QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 4.2  



THE WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT (COLLECTIVELY, THE "SECURITIES") HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR
THE SECURITIES LAWS OF ANY STATE OF THE UNITED STATES (COLLECTIVELY, THE "ACTS"). THE SECURITIES MAY NOT BE SOLD, DISTRIBUTED, OFFERED, PLEDGED, ENCUMBERED, ASSIGNED OR OTHERWISE TRANSFERRED IN THE
ABSENCE OF THE FOLLOWING: (1) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE ACTS COVERING THE TRANSACTION, (2) THE COMPANY RECEIVES AN OPINION OF COUNSEL REASONABLY
SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE ACTS, OR (3) THE COMPANY OTHERWISE SATISFIES ITSELF THAT REGISTRATION IS NOT REQUIRED UNDER THE
ACTS.



	Warrant No.:           

Date of Issuance: June 16, 2004	 	Number of Shares:           

(subject to adjustment)
 




 
 

STOCK PURCHASE WARRANT
  
  
  To Subscribe for and Purchase
  Common Stock of
  
  
  Perficient, Inc.    
    


        THIS CERTIFIES THAT, for value received,                        
("Investor"), or registered assigns, is entitled to subscribe for and purchase from
Perficient, Inc. (the "Company"), a corporation organized and existing under the laws of the State of Delaware, at the price specified below (subject to adjustment as noted below) at any time
after the date hereof to and including June 16, 2006 (the "Expiration Date")-----fully paid and nonassessable shares of common stock (the "Common Stock") (subject to adjustment as noted below).
This Warrant has been issued pursuant to a Securities Purchase Agreement dated as of the date hereof by and among the Investor, the other Investors named on the signature pages thereto and the Company
(the "Purchase Agreement"), pursuant to which, among other things, the Company issued-----shares of Common Stock of the Company to the Investor. 


        The
warrant purchase price (subject to adjustment as noted below) shall be $4.64 per share ("Initial Exercise Price"). 


        This
Warrant is subject to the following provisions, terms and conditions: 



        1.     The
rights represented by this Warrant may be exercised by the holder hereof, in whole or in part, by written notice of exercise delivered to the Company and by the
surrender of this Warrant (properly endorsed if required) at the principal office of the Company and upon payment to it by wire transfer, certified check, bank draft or cash of the purchase price for
such shares or by cashless exercise pursuant to paragraph 10. The Company agrees that the shares so purchased shall be and are deemed to be issued to the holder hereof as the record owner of
such shares as of the close of business on the date on which this Warrant shall have been surrendered and payment made for such shares as aforesaid. Subject to the provisions of the next succeeding
paragraph, certificates for the shares of stock so purchased, together with a check in payment of any fractional share and, in the case of a partial exercise, a new warrant evidencing the shares
remaining subject to this Warrant, shall be delivered to the holder hereof within a reasonable time, not exceeding 5 business days, after the rights represented by this Warrant shall have been so
exercised. 


        2.     Notwithstanding
the foregoing, however, the Company shall not be required to deliver any certificate for shares of stock upon exercise of this Warrant except in
accordance with the provisions, and subject to the limitations, of paragraph 6 hereof. 



        3.     The
Company represents and warrants that this Warrant has been duly authorized by all necessary corporate action, has been duly executed and delivered and is a legal and
binding obligation 










of
the Company. The Company covenants and agrees that all shares which may be issued upon the exercise of the rights represented by this Warrant according to the terms hereof will, upon issuance, be
duly authorized and issued, fully paid and nonassessable. The Company further covenants and agrees that during the period within which the rights represented by this Warrant may be exercised, the
Company will at all times have authorized, and reserved for the purpose of issue or transfer upon exercise of the subscription rights evidenced by this Warrant, a sufficient number of shares of its
Common Stock to provide for the exercise of the rights represented by this Warrant. The Company further covenants and agrees that the Company will not, by amendment of its Certificate of Incorporation
or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance
of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such items and in the taking of all such action as may be necessary or appropriate in order
to protect the rights of the holder hereof against dilution or other impairment. Without limiting the generality of the foregoing, the Company will not increase the par value of any shares of stock
receivable on the exercise of this Warrant above the amount payable therefor on such exercise. 


        4.     The
above provisions are, however, subject to the following: 



        (a)   The
Initial Exercise Price shall, from and after the date of issuance of this Warrant, be subject to adjustment from time to time as hereinafter provided. Upon each
adjustment of the Initial Exercise Price, the holder of this Warrant shall thereafter be entitled to purchase, at the Initial Exercise Price resulting from such adjustment, the number of shares
obtained by multiplying the warrant purchase price in effect immediately prior to such adjustment by the number of shares purchasable pursuant hereto immediately prior to such adjustment and dividing
the product thereof by the warrant purchase price resulting from such adjustment. 


        (b)   In
case the Company shall (i) declare a dividend upon the Common Stock payable in Common Stock (other than a dividend declared to effect a subdivision of the
outstanding shares of Common Stock, as described in subparagraph (c) below) or any obligations or any shares of stock of the Company which are convertible into or exchangeable for Common Stock
(such obligations or shares of stock being hereinafter referred to as "Convertible Securities"), or in any rights or options to purchase any Common Stock or Convertible Securities, or
(ii) declare any other dividend or make any other distribution upon the Common Stock payable otherwise than out of earnings or earned surplus, then thereafter the holder of this Warrant upon
the exercise hereof will be entitled to receive the number of shares of Common Stock to which such holder shall be entitled upon such exercise, and, in addition and without further payment therefor,
such number of shares of Common Stock, such that upon exercise hereof, such holder would receive such number of shares of Common Stock as a result of each dividend described in clause (i) above
and each dividend or distribution described in clause (ii) above which such holder would have received by way of any such dividend or distribution if continuously since the record date for any
such dividend or distribution such holder (i) had been the record holder of the number of shares of Common Stock then received, and (ii) had retained all dividends or distributions in
stock or securities (including Common Stock or Convertible Securities, or in any rights or options to purchase any Common Stock or Convertible Securities) payable in respect of such Common Stock or in
respect of any stock or securities paid as dividends or distributions and originating directly or indirectly from such Common Stock. For the purposes of the foregoing, a dividend or distribution other
than in cash shall be considered payable out of earnings or surplus only to the extent that such earnings or surplus are charged an amount equal to the fair value of such dividend as determined by the
Board of Directors of the Company. 


        (c)   In
case the Company shall at any time subdivide its outstanding shares of Common Stock into a greater number of shares, the warrant purchase price in effect immediately
prior to such subdivision shall be proportionately reduced, and conversely, in case the outstanding shares of Common Stock of the Company shall be combined into a smaller number of shares, the warrant
purchase price in effect immediately prior to such combination shall be proportionately increased. 












        (d)   If
any capital reorganization or reclassification of the capital stock of the Company, or consolidation or merger of the Company with another corporation, or the sale of
all or substantially all of its assets to another corporation shall be effected in such a way that holders of Common Stock shall be entitled to receive stock, securities or assets with respect to or
in exchange for Common Stock, then, as a condition of such reorganization, reclassification, consolidation, merger or sale, lawful and adequate provision shall be made whereby the holder hereof shall
thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in this Warrant and in lieu of the shares of the Common Stock of the Company immediately
theretofore purchasable and receivable upon the exercise of the rights represented hereby, such shares of stock, securities or assets as may be issued or payable with respect to or in exchange for a
number of outstanding shares of such Common Stock equal to the number of shares of such stock immediately theretofore purchasable and receivable upon the exercise of the rights represented hereby had
such reorganization, reclassification, consolidation, merger or sale not taken place, and in any such case appropriate provision shall be made with respect to the rights and interests of the holder of
this Warrant to the end that the provisions hereof (including without limitation provisions for adjustments of the warrant purchase price and of the number of shares purchasable upon the exercise of
this Warrant) shall thereafter be applicable, as nearly as may be, in relation to any shares of stock, securities or assets thereafter deliverable upon the exercise hereof. The Company shall not
effect any such consolidation, merger or sale, unless prior to the consummation thereof the successor corporation (if other than the Company) resulting from such consolidation or merger or the
corporation purchasing such assets shall assume, by written instrument executed and mailed to the registered holder hereof at the last address of such holder appearing on the books of the Company, the
obligation to deliver to such holder such shares of stock, securities or assets as, in accordance with the foregoing provisions, such holder may be entitled to purchase. 



        (e)   Upon
any adjustment of the warrant purchase price, then and in each such case the Company shall give written notice thereof, by first-class mail, postage prepaid,
addressed to the registered holder of this Warrant at the address of such holder as shown on the books of the Company, which notice shall state the warrant purchase price resulting from such
adjustment and the increase or decrease, if any, in
the number of shares purchasable at such price upon the exercise of this Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based. 


        (f)    In
case any time: 



        (1)   the
Company shall declare any cash dividend on its capital stock at a rate in excess of the rate of the last cash dividend theretofore paid; 


        (2)   the
Company shall pay any dividend payable in stock upon its capital stock or make any distribution (other than regular cash dividends) to the holders of its capital
stock; 


        (3)   the
Company shall offer for subscription pro rata to the holders of its capital stock any additional shares of stock of any class or other rights; 



        (4)   there
shall be any capital reorganization, or reclassification of the capital stock of the Company, or consolidation or merger of the Company with, or sale of all or
substantially all of its assets to, another corporation; or 


        (5)   there
shall be a voluntary or involuntary dissolution, liquidation or winding up of the Company; 





then,
in any one or more of said cases, the Company shall give written notice, by first-class mail, postage prepaid, addressed to the registered holder of this Warrant at the address of such holder as
shown on the books of the Company, of the date on which (aa) the books of the Company shall close or a record shall be taken for such dividend, distribution or subscription rights, or (bb) such
reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation or winding up, or conversion or redemption shall, or is expected to, take place, as the case may be. Such notice
shall also 








specify
the date as of which the holders of capital stock of record shall participate in such dividend, distribution or subscription rights, or shall be entitled to exchange their capital stock for
securities or other property deliverable upon such reorganization, reclassification, consolidation, merger, sale, dissolution, liquidation or winding up, or conversion or redemption, as the case may
be. Such written notice shall be given at least 20 days prior to the action in question and not less than 20 days prior to the record date or the date on which the Company's transfer
books are closed in respect thereto. 



        (g)   If
any event occurs as to which in the opinion of the Board of Directors of the Company the other provisions of this paragraph 4 are not strictly applicable or if
strictly applicable would not fairly protect the purchase rights of the holder of this Warrant or of Common Stock in accordance with the essential intent and principles of such provisions, then the
Board of Directors shall make an adjustment in the application of such provisions, in accordance with such essential intent and principles, so as to protect such purchase rights as aforesaid. 



        (h)   No
fractional shares of Common Stock shall be issued upon the exercise of this Warrant, but, instead of any fraction of a share which would otherwise be issuable, the
Company shall pay a cash adjustment (which may be effected as a reduction of the amount to be paid by the holder hereof upon such exercise) in respect of such fraction in an amount equal to the same
fraction of the Market Price per share of Common Stock as of the close of business on the date of the notice required by paragraph l above. "Market Price" shall mean, if the Common Stock is
traded on a securities exchange or on the NASDAQ SmallCap Market System, the average of the closing prices of the Common Stock on such exchange or the NASDAQ SmallCap Market System on the 20 trading
days ending on the trading day prior to the date of determination, or, if the Common Stock is otherwise traded in the over-the-counter market, the average of the closing bid
prices on the 20 trading days ending on the trading day prior to the date of determination. If at any time the Common Stock is not traded on an exchange or the NASDAQ SmallCap Market System, or
otherwise traded in the over-the-counter market, the Market Price shall be deemed to be the higher of (i) the book value thereof as determined by any firm of independent
public accountants of recognized standing selected by the Board of Directors of the Company as of the last day of any month ending within 60 days preceding the date as of which the
determination is to be made, or (ii) the fair value thereof determined in good faith by the Board of Directors of the Company as of a date which is within 15 days of the date as of which
the determination is to be made. 




        5.     This
Warrant shall not entitle the holder hereof to any voting rights or other rights as a stockholder of the Company. 


        6.     The
holder of this Warrant, by acceptance hereof, agrees to give written notice to the Company before transferring this Warrant or transferring any Common Stock issuable
or issued upon the exercise hereof (if and only if there is no effective Registration Statement) of such holder's intention to do so, describing briefly the manner of any proposed transfer of this
Warrant or such holder's intention as to the disposition to be made of shares of Common Stock issuable or issued upon the exercise hereof. If applicable, such holder shall also provide the Company
with an opinion of counsel satisfactory to the Company to the effect that the proposed transfer of this Warrant or disposition of shares may be effected without registration or qualification (under
any federal or state law) of this Warrant or the shares of Common Stock issuable or issued upon the exercise hereof. Upon receipt of such written notice and opinion (if applicable) by the Company,
such holder shall be entitled to transfer this Warrant, or to exercise this Warrant in accordance with its terms and dispose of the shares received upon such exercise or to dispose of shares of Common
Stock received upon the previous exercise of this Warrant, all in accordance with the terms of the notice delivered by such holder to the Company, provided that an appropriate legend respecting the
aforesaid restrictions on transfer and disposition may be endorsed on this Warrant or the certificates for such shares. 


        7.     Subject
to the provisions of paragraph 6 hereof, this Warrant and all rights hereunder are transferable, in whole or in part, at the principal office of the
Company by the holder hereof in person or by duly authorized attorney, upon surrender of this Warrant properly endorsed. Each taker and holder of this Warrant, by taking or holding the same, consents
and agrees that the bearer of this 










Warrant,
when endorsed, may be treated by the Company and all other persons dealing with this Warrant as the absolute owner hereof for any purpose and as the person entitled to exercise the rights
represented by this Warrant, or to the transfer hereof on the books of the Company, any notice to the contrary notwithstanding; but until such transfer on such books, the Company may treat the
registered holder hereof as the owner for all purposes. 


        8.     This
Warrant is exchangeable, upon the surrender hereof by the holder hereof at the principal office of the Company, for new Warrants of like tenor representing in the
aggregate the right to subscribe for and purchase the number of shares which may be subscribed for and purchased hereunder, each of such new Warrants to represent the right to subscribe for and
purchase such number of shares as shall be designated by said holder hereof at the time of such surrender. 


        9.     The
Company covenants and agrees that the holder hereof shall have the rights of an Investor under the Purchase Agreement and Registration Rights Agreement, each dated as
of the date hereof among the Company and the Investors named on the signature pages thereto. 


        10.   (a)
In addition to and without limiting the rights of the holder of this Warrant under the terms of this Warrant, the holder of this Warrant shall have the right (the
"Conversion Right") to convert this Warrant or any portion thereof into shares of Common Stock as provided in this paragraph 10 at any time or from time to time prior to its expiration. Upon
exercise of the Conversion Right with respect to a particular number of shares subject to this Warrant (the "Converted Warrant Shares"), the Company shall deliver to the holder of this Warrant,
without payment by the holder of any exercise price or any cash or other consideration, that number of shares of Common Stock equal to the quotient obtained by dividing the Net Value (as hereinafter
defined) of the Converted Warrant Shares by the fair market value (as defined in paragraph (b) below) of a single share of Common Stock, determined in each case as of the Conversion Date (as
hereinafter defined). The "Net Value" of the Converted Warrant Shares shall be determined by subtracting the aggregate warrant purchase price of the Converted Warrant Shares from the aggregate fair
market value of the Converted Warrant Shares. Notwithstanding anything in this paragraph 10 to the contrary, the Conversion Right cannot be exercised with respect to a number of Converted
Warrant Shares having a Net Value below $100. No fractional shares shall be issuable upon exercise of the Conversion Right, and if the number of shares to be issued in accordance with the foregoing
formula is other than a whole number, the Company shall pay to the holder of this Warrant an amount in cash equal to the fair market value of the resulting fractional share. 



        (b)   For
purposes of this paragraph 10, the "fair market value" of a share of Common Stock as of a particular date shall be its Market Price, calculated as described
in paragraph 4(h) hereof (assuming for
this purpose that references to "date of determination" (or words of similar import) in paragraph 4(h) shall be deemed references to "Conversion Date"). 




        11.   No
holder of this Warrant shall have the right to exercise this Warrant, to the extent that after giving effect to such exercise, such holder (together with such
holder's affiliates) would beneficially own in excess of 4.99% of the shares of the Common Stock outstanding immediately after giving effect to such exercise. For purposes of the foregoing sentence,
the aggregate number of shares of Common Stock beneficially owned by such holder and its affiliates shall include the number of shares of Common Stock issuable upon exercise of this Warrant with
respect to which the determination of such sentence is being made, but shall exclude shares of Common Stock which would be issuable upon (i) exercise of the remaining, unexercised portion of
this Warrant beneficially owned by such holder and its affiliates and (ii) exercise or conversion of the unexercised or unconverted portion of any other securities of the Company beneficially
owned by such holder and its affiliates (including, without limitation, any convertible notes or convertible preferred stock or warrants) subject to a limitation on conversion or exercise analogous to
the limitation contained herein. Except as set forth in the preceding sentence, for purposes of this paragraph, beneficial ownership shall be calculated in accordance with Section 13(d) of the
Securities Exchange Act of 1934, as amended. For purposes of this Warrant, in determining the number of outstanding shares of Common Stock, a holder may rely on the number of outstanding shares of
Common Stock as reflected in (1) the Company's most recent 








Quarterly
Report on Form 10-QSB, Annual Report on Form 10-KSB or other public filing with the SEC, as the case may be, (2) a more recent public
announcement by the Company or (3) any other notice by the Company or its transfer agent setting forth the number of shares of Common Stock outstanding. For any reason at any time, upon the
written or oral request of the holder of this Warrant, the Company shall, within three (3) business days, confirm orally or in writing to the holder of this Warrant the number of shares of
Common Stock then outstanding. In any case, the number of outstanding shares of Common Stock shall be determined after giving effect to the conversion or exercise of securities of the Company by the
holder of this Warrant and its affiliates since the date as of which such number of outstanding shares of Common Stock was reported. The restriction described in this paragraph 11 may be
revoked upon 60 days prior written notice by the holder hereof to the Company. 


        12.   All
questions concerning this Warrant will be governed and interpreted and enforced in accordance with the internal law, not the law of conflicts, of the State of
Delaware. 


        13.   If
this Warrant is lost, stolen, mutilated or destroyed, the Company may, upon the making of an affidavit of the fact that the person claiming the Warrant to be lost,
stolen, mutilated or destroyed and on such terms as to indemnity or otherwise as the Company may reasonably impose (which shall, in the case of a mutilated Warrant, include the surrender thereof),
issue a new Warrant of like denomination and tenor as the Warrant so lost, stolen, mutilated or destroyed. 


        14.   Receipt
of this Warrant by the holder hereof shall constitute acceptance of and agreement to all of the terms and conditions contained herein. 


[signature page follows] 








        IN
WITNESS WHEREOF, Perficient, Inc. has caused this Warrant to be signed by its duly authorized officer and this Warrant to be dated as of the date first written above. 



	 	 	COMPANY:
	

 	
 	

PERFICIENT, INC.
	

 	
 	

By:	

 
	 	 	 	 	
 Name: John T. McDonald

Title: Chief Executive Officer and

          Chairman of the Board











SUBSCRIPTION
FORM 


To
be Executed by the Holder of this Warrant if such Holder

Desires to Exercise this Warrant in Whole or in Part: 


To:
Perficient, Inc. (the "Company") 



        The
undersigned ___________________ 


Please
insert Social Security or other

identifying number of Subscriber: 


____________________________________ 


hereby
irrevocably elects to exercise the right of purchase represented by this Warrant for, and to purchase thereunder,
                        shares of the Common Stock (the "Common Stock") provided for
therein and [Circle either (a) or (b)] (a) tenders payment herewith to the order of the Company in the amount of
$                        , such payment being made as provided on the face of this Warrant; or (b) hereby exercises the
Conversion Right as to the number of shares of Common Stock set forth above in
accordance with paragraph 10 of the Warrant. 


        By
delivering this exercise notice, the undersigned owner represents and warrants ("X" next to applicable provision): 



	[    ]	 	1.	 	that it does not now, nor after giving effect to this exercise will it, beneficially own in excess of 4.99% of the outstanding shares of Common Stock of the Company, calculated pursuant to the provisions of
Paragraph 11 of the Warrant; or
	

[    ]	
 	

2.	
 	

that it has provided, at least 60 days prior to the date of this notice of exercise, notice to the Company of its revocation of the application of Paragraph 11 of the Warrant.





        The
undersigned requests that certificates for such shares of Common Stock be issued as follows: 



	Name:	 	






	Address:	 	






	Deliver to:	 	






	Address:	 	






and,
if such number of shares of Common Stock shall not be all the shares of Common Stock purchasable hereunder, that a new Warrant for the balance remaining of the shares of Common Stock purchasable
under this Warrant be registered in the name of, and delivered to, the undersigned at the address stated above. 



	Dated:	 	 	 	 
	

 	
 	

Signature
	 	 	 	 	
 Note: The signature on this Subscription Form must correspond with the name as written upon the face of this Warrant in every particular, without alteration or enlargement or any change whatever.











FORM
OF ASSIGNMENT

(To Be Signed Only Upon Assignment) 


        FOR
VALUE RECEIVED, the undersigned hereby sells, assigns and transfers unto this Warrant, and appoints






        to
transfer this Warrant on the books of the Company with the full power of substitution in the premises. 



	Dated:	 	 	 	 
	 	 	 	
	 	 
	

In the presence of:	
 	

 
	

	
 	

 
	

 	
 	

 	
 	



(Signature must conform in all respects to the name of the holder as specified on the face of this Warrant without alteration, enlargement or any change whatsoever, and the signature must be guaranteed in the usual manner)















QuickLinks


STOCK PURCHASE WARRANT To Subscribe for and Purchase Common Stock of Perficient, Inc.