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Exhibit 4.04    
    


OMNEON VIDEO NETWORKS, INC.  


 
  AMENDMENT AGREEMENT TO THE FOURTH AMENDED AND RESTATED
  INVESTOR RIGHTS AGREEMENT    
    


        THIS AMENDMENT AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (this "Amendment Agreement")
is made as of this 8th day of December 2007, by and among Omneon Video Networks, Inc., a Delaware corporation (the
"Company") and the undersigned parties hereto. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them in the Rights
Agreement (as defined below). 


RECITALS  


        WHEREAS, the Company is a party to the Fourth Amended and Restated Investor Rights Agreement dated as of March 26, 2004 attached hereto as  Exhibit A, as the same may have been amended to date, including pursuant to the Amendment Agreement to the Fourth Amended and Restated Investor
Rights Agreement dated as of September 28, 2007, by and among the Company, the Founders, Comerica and the Investors (the "Rights Agreement"). 


        WHEREAS,
pursuant to, and subject to the conditions set forth in, that certain Share Contribution Agreement dated as of December 8, 2007 (the "Contribution
Agreement") by and among the Company, Castify Holdings Limited ("Castify"), the parties listed on Exhibit A thereto (the
"Castify Shareholders") and Alta Berkeley LLP as representative of the Castify Shareholders, the Castify Shareholders shall sell to the Company,
and the Company shall purchase from the Castify Shareholders, all of the issued and
outstanding share capital of Castify and, as consideration therefor, shall receive shares of the Company's Series C Preferred Stock (the
"Shares"). 


        WHEREAS,
the transaction described in the preceding paragraph (the "Transaction") is conditioned upon each Castify Shareholder becoming a
party to the Rights Agreement. 


        WHEREAS,
the Company and all required individual parties to the Rights Agreement (the "Amending Parties") have agreed, pursuant to  Section 4.8 of the
Rights Agreement, to amend the Rights Agreement in the manner set forth herein. 


        WHEREAS,
each Castify Shareholder agrees to become a party to the Rights Agreement. 


        NOW,
THEREFORE, in consideration of the mutual agreements set forth, the parties hereto agree as follows: 


        1.    Rights Agreement.    The Company represents to the Castify Shareholders that a true and complete copy of the
Rights Agreement is attached as Exhibit A hereto. 


        2.    Amendments to Rights Agreement.    



        (a)   Effective
as of the Closing (as defined in the Contribution Agreement), each Castify Shareholder shall be an Investor as defined in the Rights Agreement solely for the
purposes of Sections 1 and 4 of the Rights Agreement (in all cases only to the extent related to a registration pursuant to Sections 1.6 and 1.7 of the Rights Agreement), as the same may
be amended and/or restated from time to time. 


        (b)   Effective
as of the Closing (as defined in the Contribution Agreement), each Castify Shareholder agrees to become a party to and be bound by, and that the Shares shall
be subject to, the terms and provisions of the Rights Agreement, to the same extent as if such Castify Shareholder was an original party thereto, solely for the purposes of Sections 1 and 4 of
the Rights 



1







 




Agreement
(in all cases only to the extent related to a registration pursuant to Sections 1.6 and 1.7 of the Rights Agreement), as the same may be amended and/or restated from time to time. 




        3.    Effectiveness.    This Amendment Agreement shall become effective when signed by (i) the Company,
(ii) each Castify Shareholder, (iii) the holders of a majority of the aggregate outstanding Registrable Securities held by the Investors and (iv) the holders of a majority of the
aggregate outstanding Shares held by the Founders. 



        4.    Governing Law.    This Amendment Agreement shall be governed by and construed under the laws of the State of
California without regard to choice of laws or conflict of laws provisions thereof. 


        5.    Counterparts.    This Amendment Agreement may be executed in two or more counterparts and signature pages may be
delivered by facsimile, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 



        6.    Effect on Rights Agreement.    The provisions of this Amendment Agreement amend and supersede the rights or
obligations under the Rights Agreement only to the extent provided herein; all other provisions of the Rights Agreement, to the extent not modified herein, remain in full force and effect. 


        7.    Entire Agreement.    The Rights Agreement, as amended hereby, together with this Amendment Agreement constitute
the full and entire understanding and agreement between the parties regarding the subject matter hereof and thereof and supersede and cancel all prior agreements, negotiations, correspondence,
undertakings and communications of the parties, oral or written, respecting such subject matter. 


[Signature Page Follows]


2










        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	THE COMPANY:	 	 
	
OMNEON VIDEO NETWORKS, INC.	
 	

 
	

By:	
 	

/s/  JOSEPH KENNEDY      
 Joseph Kennedy

President and Chief Executive Officer	
 	

 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

    
 (duly authorized signature)	
 	

Kiwi II Venture Services S.A.
 (please print or type complete name of entity)
	

Name:	
 	

    
 (please print or type full name)	
 	

By:	
 	

[ILLEGIBLE]
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

[ILLEGIBLE]
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

Director
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

M. Ankli
 (duly authorized signature)	
 	

    
 (please print or type complete name of entity)
	

Name:	
 	

M. Ankli
 (please print or type full name)	
 	

By:	
 	

    
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

    
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

    
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

B. Pfister
 (duly authorized signature)	
 	

    
 (please print or type complete name of entity)
	

Name:	
 	

B. Pfister
 (please print or type full name)	
 	

By:	
 	

    
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

    
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

    
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

Steiger Georg
 (duly authorized signature)	
 	

    
 (please print or type complete name of entity)
	

Name:	
 	

Steiger Georg
 (please print or type full name)	
 	

By:	
 	

    
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

    
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

    
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

    
 (duly authorized signature)	
 	

Invision Capital III L.P.
 (please print or type complete name of entity)
	

Name:	
 	

    
 (please print or type full name)	
 	

By:	
 	

David Hall
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

David Hall
 (please print or type full name)
	

 	
 	

 	
 	

Title: Director of Aureus Capital Partners Ltd.

As General Partner of Invision Capital III L.P.

	 	 	 	 	 	 	(please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

    
 (duly authorized signature)	
 	

Invision III L.P.
 (please print or type complete name of entity)
	

Name:	
 	

    
 (please print or type full name)	
 	

By:	
 	

David Hall
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

David Hall
 (please print or type full name)
	

 	
 	

 	
 	

Title: Director of Aureus Capital Partners Ltd.

As General Partner of Invision Capital III L.P.

As General Partner of Invision III L.P.

	 	 	 	 	 	 	(please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

Lukas Anliker
 (duly authorized signature)	
 	

    
 (please print or type complete name of entity)
	

Name:	
 	

Lukas Anliker
 (please print or type full name)	
 	

By:	
 	

    
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

    
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

    
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

Jorg Nonnenmacher
 (duly authorized signature)	
 	

    
 (please print or type complete name of entity)
	

Name:	
 	

Jorg Nonnenmacher
 (please print or type full name)	
 	

By:	
 	

    
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

    
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

    
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

    
 (duly authorized signature)	
 	

Alta-Berkeley VI SbyS CV
 (please print or type complete name of entity)
	

Name:	
 	

    
 (please print or type full name)	
 	

By:	
 	

Alistair Hugh Smith
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

Alistair Hugh Smith
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

Attorney-in-Fact
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

    
 (duly authorized signature)	
 	

Alta-Berkeley VI CV
 (please print or type complete name of entity)
	

Name:	
 	

    
 (please print or type full name)	
 	

By:	
 	

Alistair Hugh Smith
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

Alistair Hugh Smith
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

Attorney-in-Fact
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  










        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

Hans-Dieter Cleven
 (duly authorized signature)	
 	

    
 (please print or type complete name of entity)
	

Name:	
 	

Hans-Dieter Cleven
 (please print or type full name)	
 	

By:	
 	

    
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

    
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

    
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

Jakob Hummes
 (duly authorized signature)	
 	

    
 (please print or type complete name of entity)
	

Name:	
 	

Jakob Hummes
 (please print or type full name)	
 	

By:	
 	

    
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

    
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

    
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	CASTIFY SHAREHOLDERS:	 	 	 	 
	

IF AN INDIVIDUAL:	
 	

IF AN ENTITY:
	

By:	
 	

Peter Titz
 (duly authorized signature)	
 	

    
 (please print or type complete name of entity)
	

Name:	
 	

Peter Titz
 (please print or type full name)	
 	

By:	
 	

    
 (duly authorized signature)
	

 	
 	

 	
 	

Name:	
 	

    
 (please print or type full name)
	

 	
 	

 	
 	

Title:	
 	

    
 (please print or type full title)




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	FOUNDERS:	 	 
	

    
 Donald M. Craig	
 	

 
	

    
 Michael M. Gilbert	
 	

 
	

    
 Edward P. Hobson, II	
 	

 
	

/s/ Lawrence R. Kaplan
 Lawrence R. Kaplan	
 	

 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	EXECUTIVE OFFICERS:	 	 
	

    
 Donald M. Craig	
 	

 
	

/s/ Lawrence R. Kaplan
 Lawrence R. Kaplan	
 	

 
	

/s/ Joseph Kennedy
 Joseph Kennedy	
 	

 
	

    
 Dan Marshall	
 	

 
	

    
 Laura Perrone	
 	

 
	

    
 Rod Sinks	
 	

 
	

    
 Geoffrey Stedman	
 	

 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	INVESTORS:	 	 
	
ADVANCED TECHNOLOGY VENTURES VII, L.P.
	

By:	
 	

Wes Raffel
	
 	

 
	Name:	 	Wes Raffell
	 	 
	Title:	 	Managing Director
	 	 
	
ADVANCED TECHNOLOGY VENTURES VII (B), L.P.
	

By:	
 	

Wes Raffel
	
 	

 
	Name:	 	Wes Raffell
	 	 
	Title:	 	Managing Director
	 	 
	
ADVANCED TECHNOLOGY VENTURES VII (C), L.P.
	

By:	
 	

Wes Raffel
	
 	

 
	Name:	 	Wes Raffell
	 	 
	Title:	 	Managing Director
	 	 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	INVESTORS:	 	 
	
ATV ENTREPRENEURS VII, L.P.
	

By:	
 	

Wes Raffel
	
 	

 
	Name:	 	Wes Raffell
	 	 
	Title:	 	Managing Director
	 	 
	
ATV ALLIANCE 2001, L.P.
	

By:	
 	

Wes Raffel
	
 	

 
	Name:	 	Wes Raffell
	 	 
	Title:	 	Managing Director
	 	 
	
ATV ALLIANCE 2002, L.P.
	

By:	
 	

Wes Raffel
	
 	

 
	Name:	 	Wes Raffell
	 	 
	Title:	 	Managing Director
	 	 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	INVESTORS:
	
CHANCELLOR V, L.P.
	

By:	
 	

Esfandiar Lohrasbpour
	
 	

 
	Name:	 	Esfandiar Lohrasbpour
	 	 
	Title:	 	General Partner
	 	 
	
CHANCELLOR V-A, L.P.
	

By:	
 	

Esfandiar Lohrasbpour
	
 	

 
	Name:	 	Esfandiar Lohrasbpour
	 	 
	Title:	 	General Partner
	 	 
	
CITIVENTURE 2000, L.P.
	

By:	
 	

Esfandiar Lohrasbpour
	
 	

 
	Name:	 	Esfandiar Lohrasbpour
	 	 
	Title:	 	General Partner
	 	 
	
EUROMEDIA VENTURE FUND
	

By:	
 	

    
	
 	

 
	Name:	 	    
	 	 
	Title:	 	    
	 	 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	INVESTORS:
	
NORWEST VENTURE PARTNERS VII-A, L.P.
	

By:	
 	

[ILLEGIBLE]
	
 	

 
	Name:	 	    
	 	 
	Title:	 	    
	 	 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	INVESTORS:
	
NORWEST VENTURE PARTNERS VII, LP
	

By:	
 	

[ILLEGIBLE]
	
 	

 
	Name:	 	    
	 	 
	Title:	 	    
	 	 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first above written. 



	INVESTORS:
	
ACCEL VI L.P.

By: Accel VI Associates L.L.C

Its General Manager
	

By:	
 	

/s/ [ILLEGIBLE]
 ATTORNEY-IN-FACT	
 	

 
	
ACCEL VI-S L.P.

By: Accel VI Associates L.L.C

Its General Manager
	

By:	
 	

/s/ [ILLEGIBLE]
 ATTORNEY-IN-FACT	
 	

 
	
ACCEL INTERNET FUND II L.P.

By: Accel Internet Fund II Associates L.L.C

Its General Manager
	

By:	
 	

/s/ [ILLEGIBLE]
 ATTORNEY-IN-FACT	
 	

 
	
ACCEL KEIRETSU VI L.P.

By: Accel Keiretsu VI Associates L.L.C

Its General Manager
	

By:	
 	

/s/ [ILLEGIBLE]
 ATTORNEY-IN-FACT	
 	

 
	
ACCEL INVESTORS '98 L.P.
	

By:	
 	

/s/ [ILLEGIBLE]
 ATTORNEY-IN-FACT	
 	

 
	
ACCEL INVESTORS '98-S L.P.

By: Accel VI Associates L.L.C

Its General Manager
	

By:	
 	

/s/ [ILLEGIBLE]
 ATTORNEY-IN-FACT	
 	

 




[SIGNATURE PAGE TO THE OMNEON VIDEO NETWORKS, INC. AMENDMENT

AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT]  








Exhibit A  


 Fourth Amended and Restated Investor Rights Agreement  









 
 

OMNEON VIDEO NETWORKS, INC.    
    


AMENDMENT AGREEMENT TO THE FOURTH AMENDED AND RESTATED

INVESTOR RIGHTS AGREEMENT  


        THIS AMENDMENT AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (this "Amendment Agreement")
is made as of this 28th day of September 2007, by and among Omneon Video Networks, Inc., a Delaware corporation
(the "Company") and the undersigned parties hereto. All capitalized terms not otherwise defined herein shall have the meanings ascribed to them
in the Rights Agreement (as defined below). 


 
 

RECITALS    
    


        WHEREAS, the Company is a party to the Fourth Amended and Restated Investor Rights Agreement dated as of March 26, 2004, as the same may have been amended
to date, attached hereto as Exhibit A (the "Rights Agreement"), by and among (i) the Company,
(ii) Donald M. Craig, Michael M. Gilbert, Edward P. Hobson, II and Lawrence R. Kaplan (each a "Founder" and
collectively the "Founders"), (iii) Comerica Bank (f/k/a Imperial Bank) ("Comerica"), as the
holder of a warrant to purchase Common Stock, (iv) holders of outstanding shares of the Company's Series A-1 Preferred Stock
(the "Series A-1 Holders") acquired pursuant to the Company's Series A-1, Series A-2.1
and Series A-2.2 Preferred Stock Purchase Agreement dated October 29, 2002, (v) the Former Preferred Holders (as defined in the Rights Agreement),
(vi) holders of outstanding shares of the Company's Series A-2.1 Preferred Stock
(the "Series A-2.1 Holders") acquired pursuant to the Series A Stock Purchase Agreement and the Company's Loan
Restructuring Agreement dated October 29, 2002 with Lighthouse Capital Partners II, L.P. and Lighthouse Capital Partners III, L.P., (vii) purchasers of the Company's
Series B-1 Preferred Stock ("Series B-1 Investors") pursuant to the Company's Series B-1
Preferred Stock Purchase Agreement dated March 26, 2004, and (viii) BMC Software, Inc. ("BMC" and together with the
Series B-1 Investors, the Series A-1 Holders and the Series A-2.1 Holders, the
"Investors"), as the holder of a warrant to purchase Series A-6 Preferred Stock. 


        WHEREAS,
pursuant to, and subject to the conditions set forth in, that certain Series C-1 Preferred Stock Purchase Agreement of even date herewith
(the "Stock Purchase Agreement") between the Company and Sony Electronics Inc. ("Sony"),
the Company shall sell
to Sony, and Sony shall purchase, up to 1,042,390 shares of the Company's Series C-1 Preferred Stock, par value $0.001 per share
(the "Shares"), at a per share price of $14.39 (the "Per Share Price"). 


        WHEREAS,
the transaction described in the preceding paragraph (the "Transaction") is conditioned upon Sony becoming a party to the
Rights Agreement. 


        WHEREAS,
the Company and all required individual parties to the Rights Agreement (the "Amending Parties") have agreed, pursuant to  Section 4.8 of
the Rights Agreement, to amend the Agreement in the manner set forth herein. 



        WHEREAS,
Sony agrees to become a party to the Rights Agreement. 


        NOW,
THEREFORE, in consideration of the mutual agreements set forth, Sony and the Amending Parties hereto agree as follows: 


        1.     Effective
as of the Closing (as defined in the Stock Purchase Agreement), Sony shall be an Investor as defined in the Rights Agreement for all purposes. 


        2.     Effective
as of the Closing (as defined in the Stock Purchase Agreement), Sony agrees to become a party to and be bound by, and that the Shares shall be subject
to, the terms and provisions of the Rights Agreement, to the same extent as if Sony were an original party thereto, for all purposes. 







 

        3.     Effective
as of the Closing (as defined in the Stock Purchase Agreement), the definition of Conversion Shares set forth in  Section 1.1 of the Rights Agreement shall be amended in its entirety to instead
read as follows: 



"Conversion Shares" shall mean the Common Stock issued or issuable upon conversion of the Former Preferred Stock and the Company's
Series A-1 Preferred Stock, Series A-2.1 Preferred Stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock,
Series A-5 Preferred Stock, Series A-6 Preferred Stock, Series B-1 Preferred Stock and Series C-1 Preferred Stock. 




        4.     Effective
as of the Closing (as defined in the Stock Purchase Agreement), the second sentence of  Section 2.1(a) of the Rights Agreement shall be amended in its entirety to instead read as follows:




An
Investor's "Pro Rata Portion" for purposes of this Section 2.1 is the ratio that
(x) the sum of the number of shares of the Company's Common Stock held by the Investor or issuable upon conversion of the Series C-1 Preferred Stock,
Series B-1 Preferred Stock, Series A-1 Preferred Stock, Series A-2.1 Preferred Stock, Series A-2.2 Preferred
Stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock, Series A-5 Preferred Stock and Series A-6 Preferred Stock
then held by such Investor bears to (y) the sum of the total number of shares of Common Stock then outstanding and the number of shares of the Company's Common Stock issuable upon conversion of
any then outstanding Preferred Stock of the Company. 




        5.     Effective
as of the Closing (as defined in the Stock Purchase Agreement), the fourth sentence of  Section 2.1(c) of the Rights Agreement shall be amended in its entirety to instead read as follows:




For
purposes of this Section 2.1(c), a Fully Exercising Investor's pro rata portion of Unsubscribed Shares is the ratio that
(x) the sum of the number of shares of the Company's Common Stock held by the Fully Exercising Investor or issuable upon conversion of the Series C-1 Preferred Stock,
Series B-1 Preferred Stock, Series A-1 Preferred Stock, Series A-2.1 Preferred Stock, Series A-2.2 Preferred
Stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock, Series A-5 Preferred Stock and Series A-6 Preferred Stock
then held by such Fully Exercising Investor bears to (y) the sum of the number of shares of the Company's Common Stock held by all Fully Exercising Investors or issuable upon conversion of the
Series C-1 Preferred Stock, Series B-1 Preferred Stock, Series A-1 Preferred Stock, Series A-2.1 Preferred Stock,
Series A-2.2 Preferred Stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock, Series A-5 Preferred Stock and
Series A-6 Preferred Stock then held by all Fully Exercising Investors. 




        6.     Waiver of Right of First Refusal and Limitations on Subsequent Registration Rights. The undersigned Investors hereby waive
on behalf of all Investors all rights set forth in Sections 1.8 and 2.1 of the Rights
Agreement respecting the Transaction, including, without limitation, the restriction on subsequent registration rights, the rights of first offer and notice rights set forth therein. 


        7.     Effectiveness.    This Amendment Agreement shall become effective when signed by (i) the Company,
(ii) Sony, (iii) the holders of a majority of the aggregate outstanding Registrable Securities held by the Investors and (iv) the holders of a majority of the aggregate
outstanding Shares held by the Founders. 


        8.     Governing Law.    This Amendment Agreement shall be governed by and construed under the laws of the State of
California without regard to choice of laws or conflict of laws provisions thereof. 


        9.     Counterparts.    This Amendment Agreement may be executed in two or more counterparts and signature pages may be
delivered by facsimile, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 


        10.   Termination of Prior Amendment.    That certain Amendment of the Fourth Amended and Restated Investor Rights
Agreement entered into by the Company and the other parties thereto, dated as of February 13, 2007, is hereby terminated and of no further force and effect. 


2







 

        11.   Effect on Rights Agreement; Entire Agreement. 



        (a)   Effect on Rights Agreement.    The provisions of this Amendment Agreement amend and supersede the rights or
obligations under the Rights Agreement only to the extent provided herein; all other provisions of the Rights Agreement, to the extent not modified herein, remain in full force and effect. 



        (b)   Entire Agreement.    The Rights Agreement, as amended hereby, together with this Amendment Agreement constitute
the full and entire understanding and agreement between the parties regarding the subject matter hereof and thereof and supersede and cancel all prior agreements, negotiations, correspondence,
undertakings and communications of the parties, oral or written, respecting such subject matter. 



[Signature Page Follows]


3










        IN WITNESS WHEREOF, the parties have executed this Amendment Agreement as of the date first written above. 



	

 	
 	
THE COMPANY:
	

 	
 	
OMNEON VIDEO NETWORKS, INC.
	

 	
 	

By:	

/s/  JOSEPH S. KENNEDY      
 Joseph Kennedy
 President and Chief Executive Officer





	

 	
 	
SONY ELECTRONICS INC.:
	

 	
 	

By:	

/s/  GEN TSUCHIKAWA      

	

 	
 	

Name:	

Gen Tsuchikawa
	

 	
 	

Title:	
Sr. VP & Corporate Treasurer





Exhibit A:    Fourth
Amended and Restated Investor Rights Agreement 


[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	FOUNDERS:
	

 	

/s/  DONALD M. CRAIG      
 Donald M. Craig
	

 	

/s/  LAWRENCE R. KAPLAN      
 Lawrence R. Kaplan




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	INVESTORS:
	

 	
 	
ACCEL VI L.P.
	 	 	By:	Accel VI Associates L.L.C

Its General Manager
	

 	
 	

By:	

/s/  [ILLEGIBLE]      
ATTORNEY-IN-FACT
	

 	
 	
ACCEL VI-S L.P.
	 	 	By:	Accel VI Associates L.L.C

Its General Manager
	

 	
 	

By:	

/s/  [ILLEGIBLE]      
ATTORNEY-IN-FACT
	

 	
 	
ACCEL INTERNET FUND II L.P.
	 	 	By:	Accel Internet Fund II Associates L.L.C

Its General Manager
	

 	
 	

By:	

/s/  [ILLEGIBLE]      
ATTORNEY-IN-FACT
	

 	
 	
ACCEL KEIRETSU VI L.P.
	 	 	By:	Accel Keiretsu VI Associates L.L.C

Its General Manager
	

 	
 	

By:	

/s/  [ILLEGIBLE]      
ATTORNEY-IN-FACT
	

 	
 	
ACCEL INVESTORS '98 L.P.
	

 	
 	

By:	

/s/  [ILLEGIBLE]      
ATTORNEY-IN-FACT
	

 	
 	
ACCEL INVESTORS '98-S L.P.
	 	 	By:	Accel VI Associates L.L.C

Its General Manager
	

 	
 	

By:	

/s/  [ILLEGIBLE]      
ATTORNEY-IN-FACT




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	ADVANCED TECHNOLOGY VENTURES VII, L.P.
	

 	
 	

By:	

/s/  W. RAFFEL      

	

 	
 	

Name:	

Wes Raffel
	

 	
 	

Title:	
Managing Director
	

 	
 	
ADVANCED TECHNOLOGY VENTURES VII (B), L.P.
	

 	
 	

By:	

/s/  W. RAFFEL      

	

 	
 	

Name:	

Wes Raffel
	

 	
 	

Title:	
Managing Director
	

 	
 	
ADVANCED TECHNOLOGY VENTURES VII (C), L.P.
	

 	
 	

By:	

/s/  W. RAFFEL      

	

 	
 	

Name:	

Wes Raffel
	

 	
 	

Title:	
Managing Director




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	ATV ENTREPRENEURS VII, L.P.
	

 	
 	

By:	

/s/  W. RAFFEL      

	

 	
 	

Name:	

Wes Raffel
	

 	
 	

Title:	
Managing Director
	

 	
 	
ATV ALLIANCE 2001, L.P.
	

 	
 	

By:	

/s/  W. RAFFEL      

	

 	
 	

Name:	

Wes Raffel
	

 	
 	

Title:	
Managing Director
	

 	
 	
ATV ALLIANCE 2002, L.P.
	

 	
 	

By:	

/s/  W. RAFFEL      

	

 	
 	

Name:	

Wes Raffel
	

 	
 	

Title:	
Managing Director




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	PALISADES VENTURES, L.P.
	

 	
 	

By:	

/s/  PAUL D'ADDARIO      

	

 	
 	

Name:	

Paul D'Addario
	

 	
 	

Title:	
Senior Managing Director
	

 	
 	
PALISADES QUALIFIED INVESTORS, L.P.
	

 	
 	

By:	

/s/  PAUL D'ADDARIO      

	

 	
 	

Name:	

Paul D'Addario
	

 	
 	

Title:	
Senior Managing Director
	

 	
 	
PALISADES NON-QUALIFIED INVESTORS, L.P.
	

 	
 	

By:	

/s/  PAUL D'ADDARIO      

	

 	
 	

Name:	

Paul D'Addario
	

 	
 	

Title:	
Senior Managing Director




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	CHANCELLOR V, L.P.
	

 	
 	

By:	

/s/  E. LOHRASBPOUR      

	

 	
 	

Name:	

E. Lohrasbpour
	

 	
 	

Title:	
General Partner
	

 	
 	
CHANCELLOR V-A, L.P.
	

 	
 	

By:	

/s/  E. LOHRASBPOUR      

	

 	
 	

Name:	

E. Lohrasbpour
	

 	
 	

Title:	
General Partner
	

 	
 	
CITIVENTURE 2000, L.P.
	

 	
 	

By:	

/s/  E. LOHRASBPOUR      

	

 	
 	

Name:	

E. Lohrasbpour
	

 	
 	

Title:	
General Partner




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	INTEL CAPITAL (CAYMAN) CORPORATION
	

 	
 	

By:	

/s/  DOUG LUSK      

	

 	
 	

Name:	

Doug Lusk
	

 	
 	

Title:	
Assistant Treasurer
	

 	
 	
INTEL CORPORATION
	

 	
 	

By:	

/s/  DOUG LUSK      

	

 	
 	

Name:	

Doug Lusk
	

 	
 	

Title:	
Assistant Treasurer




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	MERITECH CAPITAL AFFILIATES II, L.P.
	

 	
 	

By:	

/s/  MICHAEL B. GORDON      

	

 	
 	

Name:	

Michael B. Gordon
	

 	
 	

Title:	
a managing member
	

 	
 	
MERITECH CAPITAL PARTNERS II, L.P.
	

 	
 	

By:	

/s/  MICHAEL B. GORDON      

	

 	
 	

Name:	

Michael B. Gordon
	

 	
 	

Title:	
a managing member
	

 	
 	
MCP ENTERPRENEUR PARTNERS II, L.P.
	

 	
 	

By:	

/s/  MICHAEL B. GORDON      

	

 	
 	

Name:	

Michael B. Gordon
	

 	
 	

Title:	
a managing member




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	NORWEST VENTURE PARTNERS VII-A, L.P.
	 	 	By:	Itasca VC Partners VII-A, LLC

General Partner
	

 	
 	

By:	

/s/  KURT BETCHER      

	

 	
 	

Name:	

Kurt Betcher
	 	 	Title:	Admin Partner + CFO




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  









	 	 	NORWEST VENTURE PARTNERS VII, LP
	 	 	By:	Itasca VC Partners VII, LLP

General Partner
	

 	
 	

By:	

/s/  KURT BETCHER      

	

 	
 	

Name:	

Kurt Betcher
	 	 	Title:	Admin Partner + CFO




[Signature Page to the Amendment Agreement to the Fourth Amended and Restated Investor

Rights Agreement of Omneon Video Networks, Inc.]  








OMNEON VIDEO NETWORKS, INC.



FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT



March 26, 2004  








   TABLE OF CONTENTS  



	 
	 	 
	 	Page

	SECTION 1. Restrictions on Transferability; Registration Rights	 	2
	1.1.	 	Certain Definitions	 	2
	1.2.	 	Restrictions	 	3
	1.3.	 	Restrictive Legend	 	3
	1.4.	 	Notice of Proposed Transfers	 	4
	1.5.	 	Requested Registration	 	4
	1.6.	 	Company Registration	 	6
	1.7.	 	Registration on Form S-3	 	7
	1.8.	 	Limitations on Subsequent Registration Rights	 	9
	1.9.	 	Expenses of Registration	 	9
	1.10.	 	Registration Procedures	 	9
	1.11.	 	Indemnification	 	10
	1.12.	 	Information by Holder	 	12
	1.13.	 	Rule 144 Reporting	 	12
	1.14.	 	Transfer of Registration Rights	 	13
	1.15.	 	Standoff Agreement	 	13
	1.16.	 	Termination of Rights	 	13
	

SECTION 2. Right of First Offer	
 	

14
	2.1.	 	Right of First Offer	 	14
	2.2.	 	Termination of Right of First Offer	 	16
	

SECTION 3. Affirmative Covenants of the Company	
 	

16
	3.1.	 	Financial Information	 	16
	3.2.	 	Operating Plan and Budget	 	17
	3.3.	 	Inspection	 	17
	3.4.	 	Assignment of Rights to Financial Information	 	18
	3.5.	 	Termination of Covenants	 	18
	3.6.	 	Delivery of Qualified Small Business Stock Representations	 	18
	3.7.	 	Definition of Investor	 	18
	3.8.	 	Certain Covenants Relating to SBA Matters	 	18
	

SECTION 4. Miscellaneous	
 	

19
	4.1.	 	Assignment	 	19
	4.2.	 	Third Parties	 	19
	4.3.	 	Governing Law	 	19
	4.4.	 	Aggregation of Shares	 	19
	4.5.	 	Counterparts	 	19
	4.6.	 	Notices	 	19
	4.7.	 	Severability	 	19
	4.8.	 	Amendment and Waiver	 	20
	4.9.	 	Rights of Parties	 	20
	4.10.	 	Delays or Omissions	 	20
	4.11.	 	Entire Agreement; Effect on Prior Rights Agreement; Attorneys' Fees; Waiver of Rights	 	20
	4.12.	 	Specific Performance	 	21




i







 
EXHIBITS  


Exhibit A    Certificate
of Representations Regarding Qualified Small Business Stock 


ii








  



 
 

FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT    
    


        THIS FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (this "Agreement") is entered into as of the 26th day
of March 2004 ("Effective Date"), by and among (i) OMNEON VIDEO NETWORKS, INC., a Delaware corporation (the
"Company"), (ii) Donald M. Craig, Michael M. Gilbert, Edward P. Hobson, II and Lawrence R. Kaplan (each a
"Founder" and collectively the "Founders"), (iii) Comerica Bank (f/k/a Imperial Bank)
("Comerica"), as the holder of a warrant to purchase Common Stock, (iv) holders of outstanding shares of the Company's
Series A-1 Preferred Stock (the "Series A-1 Holders") acquired pursuant to the Company's
Series A-1, Series A-2.1 and Series A-2.2 Preferred Stock Purchase Agreement dated October 29, 2002 (the
"Series A Stock Purchase Agreement"), (v) the Former Preferred Holders (as defined below), (vi) holders of outstanding shares of
the Company's Series A-2.1 Preferred Stock (the "Series A-2.1 Holders") acquired pursuant to the Series A
Stock Purchase Agreement and the Company's Loan Restructuring Agreement dated October 29, 2002 with Lighthouse Capital Partners II, L.P. and Lighthouse Capital Partners III, L.P.,
(vii) purchasers of the Company's Series B-1 Preferred Stock ("Series B-1 Investors") pursuant to the
Company's Series B-1 Preferred Stock Purchase Agreement dated March 26, 2004 (the "Stock Purchase Agreement"), and
(viii) BMC Software, Inc. ("BMC" and together with the Series B-1 Investors, the Series A-1 Holders
and the Series A-2.1 Holders, the "Investors"), as the holder of a warrant to purchase Series A-6 Preferred Stock. 


 
 

RECITALS    
    


        A.    Certain
stockholders of the Company (collectively, the "Former Preferred Holders") held shares of the Company's
Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock, which they acquired pursuant to the Company's Series A Preferred Stock Purchase Agreement
dated May 22, 1998, Series B Preferred Stock Purchase Agreement dated June 30, 1999, and Series C Preferred Stock Purchase Agreement dated October 10, 2000,
respectively. 


        B.    Such
Former Preferred Holders had such shares of Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock (the
"Former Preferred Stock") converted into shares of Common Stock, Series A-3 Preferred Stock, Series A-4 Preferred
Stock and/or Series A-5 Preferred Stock of the Company pursuant to the Company's certificate of incorporation, as amended and restated on October 28, 2002 in connection with
the Company's sale of shares of its Series A-1 Preferred Stock pursuant to the Series A Stock Purchase Agreement. 


        C.    The
Company shall as of the Effective Date sell to certain entities and individuals shares of the Company's Series B-1 Preferred Stock, and execution
of this Agreement is a condition precedent to the purchase and sale of such Series B-1 Preferred Stock. 


        D.    The
Founders, Comerica, the Series A-1 Holders, the Series A-2.1 Holders, the Former Preferred Holders, and BMC are parties to the
Company's Third Amended and Restated Investor Rights Agreement dated as of October 29, 2002 (the "Prior Rights Agreement"), pursuant to which
such parties were granted certain rights. 


        E.    Those
Former Preferred Holders who acquired Series A-1 Preferred Stock pursuant to the Series A-1 Stock Purchase Agreement,
continued as parties to the Prior Rights Agreement, and, as such, have the right to enter into this Agreement. 


        F.     The
Company and Series B-1 Investors have requested and the holders of a majority of the aggregate outstanding Registrable Securities (as defined in
the Prior Rights Agreement) held by the Investors (as defined in the Prior Rights Agreement) and of a majority of the aggregate outstanding Shares (as defined in the Prior Rights Agreement) held by
the Founders (such holders, the "Amending Parties") have agreed, pursuant to Section 4.8 of the
Prior Rights Agreement, to amend and restate in its entirety the Prior Rights Agreement in the manner set forth herein. 


1







 

        G.    The
Company and Comerica are parties to that certain Amended and Restated Loan Agreement dated January 28, 2000 pursuant to which Comerica was granted a warrant to
purchase 6,875 shares of Common Stock (the "Comerica Shares"), which shares have registration rights contained in  Section 1.6 herein. Comerica
is a party to this Agreement for purposes of Sections 1 (with the
exception of Sections 1.5 and 1.7) and 4 only. The
Founders are parties to this Agreement for purposes of Sections 1 and 4 only. 



        NOW,
THEREFORE, the parties agree as follows: 


 
 

SECTION 1.    



 
  Restrictions on Transferability; Registration Rights    
    



        1.1.    Certain Definitions.    As used in this Agreement, the following terms shall have the following respective
meanings: 


        "Commission" shall mean the Securities and Exchange Commission or any other federal agency at the time administering the Securities Act. 


        "Common Stock" shall mean the Company's common stock, par value $0.001 per share. 



        "Conversion Shares" shall mean the Common Stock issued or issuable upon conversion of the Former Preferred Stock, the
Series B-1 Preferred Stock and the Company's Series A-1 Preferred Stock, Series A-2.1 Preferred Stock, Series A-3 Preferred
Stock, Series A-4 Preferred Stock, Series A-5 Preferred Stock and Series A-6 Preferred Stock. 


        "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended, or any similar successor federal statute, and the rules and
regulations thereunder, all as the same shall be in effect from time to time. 



        "Holder" shall mean (i) any Founder, Former Preferred Holder or Investor holding Registrable Securities and (ii) any person
holding Registrable Securities to whom the rights under this Agreement have been transferred in accordance with Section 1.14 hereof, provided,
however, that for purposes of this Agreement, a record holder of shares of Preferred Stock (or warrants to purchase Preferred Stock) of the Company that is convertible into such Registrable Securities
shall be deemed to be the Holder of such Registrable Securities; and provided, further, that the Company shall in no event be obligated
to register shares of Preferred Stock or warrants of the Company, and that Holders of Registrable Securities will not be required to exercise their warrants or convert their shares of Preferred Stock
into Common Stock in order to exercise the registration rights granted hereunder, until immediately before the closing of the offering to which the registration relates. "Holder" shall also mean
Comerica except with respect to Sections 1.5 and 1.7 hereof. 


        "Initiating Holders" shall mean (i) any Investors (or transferees of Investors under  Section 1.14 hereof) who in the aggregate are Holders of not less than
twenty percent (20%) of the Registrable Securities then held (or deemed
held) by all Investors (or transferees of Investors under Section 1.14 hereof) and (ii) who propose to register securities the aggregate
offering price of which, net of underwriting discounts and commissions, exceeds $10,000,000. 


        The
terms "register", "registered" and
"registration" refer to a registration effected by preparing and filing a registration statement in compliance with the Securities Act, and the
declaration or ordering of the effectiveness of such registration statement. 



        "Registrable Securities" shall mean (i) Common Stock held by the Founders free of any right of repurchase in favor of the Company,
(ii) the Conversion Shares, (iii) any Common Stock of the Company issued or issuable in respect of the Conversion Shares upon any stock split, stock dividend, recapitalization, or
similar event, or any Common Stock otherwise issued or issuable with respect to the 


2







 



Conversion
Shares and (iv) the Comerica Shares for the purposes of Section 1, with the exception of Sections
1.5 and 1.7, only; provided, however, that shares of Common Stock or other
securities shall only be treated as Registrable Securities if and so long as they have not been (A) sold to or through a broker or dealer or underwriter in a public distribution or a public
securities transaction, (B) sold in a transaction exempt from the registration and prospectus delivery requirements of the Securities Act under Section 4(1) thereof so that all transfer
restrictions and restrictive legends with respect thereto are removed upon the consummation of such sale, or (C) transferred in a transaction pursuant to which the registration rights are not
also assigned in accordance with Section 1.14 hereof. 



        "Registration Expenses" shall mean all expenses incurred by the Company in complying with Sections
1.5, 1.6 and 1.7 hereof, including, without limitation, all registration,
qualification, listing and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company, blue sky fees and expenses, and the expense of any special audits incident to
or required by any such registration (but excluding the compensation of regular employees of the Company which shall be paid in any event by the Company) and excluding the Selling Expenses. 



        "Restricted Securities" shall mean the securities of the Company required to bear the legend set forth in  Section 1.3(a) hereof. 


        "Securities Act" shall mean the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder or any similar
federal statute and the rules and regulations of the Commission thereunder, all as the same shall be in effect at the time. 


        "Selling Expenses" shall mean all underwriting discounts, selling commissions and stock transfer taxes applicable to the securities
registered by the Holders and all fees and disbursements of counsel for the Holders (other than as specified in Section 1.9). 


        "Shares" shall mean any shares of capital stock of the Company or any securities of the Company convertible into or exchangeable for such
capital stock held by any Founder, Investor or Comerica as of the date of this Agreement. 


        1.2.    Restrictions.    None of the Founders, Investors, Former Preferred Holders and Comerica shall sell, assign,
transfer or pledge any Shares except upon the conditions specified in this Agreement, which conditions are intended to ensure compliance with the provisions of the Securities Act. Each Founder,
Investor and Former Preferred Holder and Comerica will cause any proposed purchaser, assignee, transferee or pledgee of any Shares held by such Founder, Investor, Former Preferred Holder or Comerica
to agree to take and hold such Shares subject to the provisions and upon the conditions specified in this Agreement. 


        1.3.    Restrictive Legend.    Each certificate representing the Shares held by the Founders, Investors, Former
Preferred Holders and Comerica and any other securities issued in respect of such Shares upon any stock split, stock dividend, recapitalization, merger, consolidation or similar event, shall (unless
otherwise permitted by the provisions of Section 1.4 below) be stamped or otherwise imprinted with legends in substantially the following form (in addition to any legend required under
applicable state securities laws): 



	(a)
	"THE
SHARES REPRESENTED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED. SUCH SHARES MAY NOT BE SOLD,
TRANSFERRED OR PLEDGED IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS THE COMPANY RECEIVES AN OPINION OF COUNSEL (WHICH MAY BE COUNSEL FOR THE COMPANY) STATING THAT SUCH SALE OR TRANSFER IS EXEMPT FROM
THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF SAID ACT." 



3







 



	(b)
	"THE
SHARES REPRESENTED BY THIS CERTIFICATE MAY BE TRANSFERRED ONLY IN ACCORDANCE WITH THE TERMS OF ONE OR MORE AGREEMENTS BETWEEN THE COMPANY AND THE STOCKHOLDER, COPIES OF WHICH ARE
ON FILE WITH THE SECRETARY OF THE COMPANY." 




        Each
Founder, Investor and Former Preferred Holder and Comerica consents to the Company making a notation on its records and giving instructions to any transfer agent of the Restricted
Securities in order to implement the restrictions on transfer established in this Section 1. 


        1.4.    Notice of Proposed Transfers.    The holder of each certificate representing Restricted Securities, by
acceptance thereof, agrees to comply in all respects with the provisions of this Section 1. Prior to any proposed sale, assignment, transfer or pledge of any Restricted Securities, unless there
is in effect a registration statement under the Securities Act covering the proposed transfer, the holder thereof shall give written notice to the Company of such holder's intention to effect such
transfer, sale, assignment or pledge. Each such notice shall describe the manner and circumstances of the proposed transfer, sale, assignment or pledge in sufficient detail, and if reasonably
requested by the Company shall be accompanied at such holder's expense by either (i) an unqualified written opinion of legal counsel who shall, and whose legal opinion shall, be satisfactory to
the Company, addressed to the Company to the effect that the proposed transfer of the Restricted Securities may be effected without registration under the Securities Act, or (ii) a "no action"
letter from the Commission to the effect that the transfer of such securities without registration will not result in a recommendation by the staff of the Commission that action be taken with respect
thereto, or (iii) any other evidence satisfactory to counsel to the Company, whereupon the holder of such Restricted Securities shall be entitled to transfer such Restricted Securities in
accordance with the terms of the notice delivered by the holder to the Company. The Company will not require such a legal opinion, "no action" letter or other evidence satisfactory to counsel to the
Company (a) in any transaction in compliance with Rule 144 under the Securities Act ("Rule 144"), (b) in any transaction in
which an Investor which is a corporation distributes Restricted Securities solely to its majority owned subsidiaries or affiliates for no consideration, or (c) in any transaction in which an
Investor which is a partnership or limited liability company distributes Restricted Securities solely to partners, affiliates (as defined in the Securities Act) or members thereof for no
consideration; provided that each transferee agrees in writing to be subject to the terms of this Section 1.4. Each certificate evidencing the Restricted Securities transferred as above
provided shall bear, except if such transfer is made pursuant to Rule 144, the restrictive legends set forth in Section 1.3 above, except that such certificate shall not bear the
restrictive legend set forth in Section 1.3(a) above if, in the opinion of counsel for such holder and the Company, such legend is not required in order to establish compliance with any
provisions of the Securities Act. In either such case, the Company shall be obligated to reissue promptly legended or unlegended certificates at the request of any holder thereof. 


        1.5.    Requested Registration.    



        (a)    Request for Registration.    If the Company shall receive from the Initiating Holders a written request with
respect to the Registrable Securities held by such Initiating Holders that the Company effect any registration, qualification or compliance, the Company will: 



          (i)  promptly
give written notice of the proposed registration, qualification or compliance to all other Holders; and 


         (ii)  as
soon as practicable thereafter, use its best efforts to effect such registration, qualification or compliance (including, without limitation, the execution of an
undertaking to file post-effective amendments, appropriate qualification under applicable blue sky or other state securities laws and appropriate compliance with applicable regulations
issued under the Securities Act and any other governmental requirements or regulations) as may be so requested and as would permit or facilitate the sale and distribution of all or such portion of
such Registrable 



4







 




Securities
as are specified in such request, together with all or such portion of the Registrable Securities of any Holder or Holders joining in such request as are specified in a written request
received by the Company within thirty (30) days after the deemed receipt of such written notice from the Company; provided,  however, that the Company
shall not be obligated to take any action to effect any such registration, qualification or compliance pursuant to this  Section 1.5: 



	(1)
	In
any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such registration, qualification or compliance
unless the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act;



	(2)
	Prior
to the earlier of (A) six (6) months following the effective date of the first public offering of the Common Stock of the Company to the general public which is
effected pursuant to a registration statement filed with, and declared effective by, the Commission under the Securities Act (the "IPO") or
(B) three (3) years following the closing of the sale and issuance of the Series B-1 Preferred Stock pursuant to the Series B-1 Purchase Agreement;



	(3)
	During
the period starting with the date sixty (60) days prior to the Company's estimated date of filing of, and ending on the later of (A) six months from the date
sixty (60) days prior to the Company's estimated date of filing of any registration statement pertaining to securities of the Company (other than a registration of securities in a
Rule 145 transaction or with respect to an employee benefit plan), provided that the registration statement has not become effective during such time period or (B) the date six
(6) months immediately following the effective date of, any registration statement pertaining to securities of the Company (other than a registration of securities in a Rule 145
transaction or with respect to an employee benefit plan), provided in the case of clauses (A) or (B) that the Company is actively employing in good faith all reasonable efforts to cause
such registration statement to become effective and that the Company's estimate of the date of filing such registration statement is made in good faith;



	(4)
	After
the Company has effected two (2) such registrations pursuant to this subparagraph 1.5(a), such registrations having been declared or ordered effective and the securities
offered pursuant to such registrations having been sold; or



	(5)
	If
the Company shall furnish to such Holders a certificate, signed by the President or Chief Executive Officer of the Company, stating that in the good faith judgment of the board of
directors of the Company (the "Board of Directors") it would be seriously detrimental to the Company or its stockholders for a registration statement to
be filed in the near future, then the Company's obligation to use its best efforts to register, qualify or comply under this Section 1.5 shall be
deferred for a period not to exceed one-hundred and twenty (120) days from the date of receipt of written request from the Initiating Holders;  provided, however, that the Company may not utilize this right more than once in any twelve
(12) month period; provided further that the Company shall not register any securities for the account of itself or any other stockholder during
such one hundred twenty (120) day period (other than a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate
reorganization or transaction under Rule 145 of the Act, a registration on any form that does not include substantially the same information as would be required to be included in a
registration statement covering the sale of the Registrable Securities, or a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities
that are also being registered). 




5







 





        Subject
to the foregoing clauses (1) through (5), the Company shall file a registration statement covering the Registrable Securities so requested to be registered as soon
as practicable after receipt of the request or requests of the Initiating Holders. 


        (b)    Underwriting.    In the event that a registration pursuant to  Section 1.5 is for a registered public offering involving
an underwriting, the Company shall so advise the Holders as part of the notice given
pursuant to Section 1.5(a)(i). The right of any Holder to registration pursuant to  Section 1.5 shall be conditioned upon such Holder's
participation in the underwriting arrangements required by this  Section 1.5 and the inclusion of such Holder's Registrable Securities in the underwriting, to the extent requested, to the extent
provided
herein. 


        The
Company shall (together with all Holders proposing to distribute their securities through such underwriting) enter into and perform its obligations under an underwriting agreement in
customary form with the managing underwriter selected for such underwriting by the Company (which managing underwriter shall be reasonably acceptable to the Holders of a majority of the Registrable
Securities to be registered). Notwithstanding any other provision of this Section 1.5, if the managing underwriter advises the Initiating Holders
that marketing factors require a limitation of the number of shares to be underwritten, then the Company shall so advise all Holders of Registrable Securities and the number of shares of Registrable
Securities that may be included in the registration and underwriting shall be allocated among all Holders desiring to participate in such registration and underwriting in proportion, as nearly as
practicable, to the respective amounts of Registrable Securities held by all such Holders at the time of filing the registration statement; provided,  however, that the number of shares of Registrable Securities to be included in such underwriting and registration shall not be reduced unless all other
securities to be registered by the Company for its own account or by any other holders of the Company's securities are first entirely excluded from the underwriting and registration. No Registrable
Securities excluded from the underwriting by reason of the underwriter's marketing limitation shall be included in such registration. To facilitate the allocation of shares in accordance with the
above provisions, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. The Company may include in such registration (and any related
qualification under blue sky laws or other compliance), and in any underwriting involved therein, (i) authorized but unissued shares of Common Stock or shares of Common Stock held by the
Company or (ii) shares of Common Stock held by holders other than the Holders of Registrable Securities but only to the extent that such inclusion of securities in  Sections 1.5(b)(i) and
(ii) will not diminish the number of securities included by the Holders of
Registrable Securities who have requested their securities to be included in such registration. 



        If
any Holder of Registrable Securities disapproves of the terms of the underwriting, such person may elect to withdraw therefrom by written notice to the Company, the managing
underwriter and the Initiating Holders. The Registrable Securities and/or other securities so withdrawn shall also be withdrawn from registration, and such Registrable Securities shall not be
transferred in a public distribution prior to ninety (90) days after the effective date of such registration. 


        1.6.    Company Registration.    



        (a)   Notice of Registration. If at any time or from time to time, the Company shall determine to register any of its
securities, either for its own account or the account of a security holder or holders other than (i) a registration relating solely to employee benefit plans, (ii) a registration
relating solely to a Commission Rule 145 transaction, or (iii) a registration on any registration form that does not permit secondary sales, the Company will: 



          (i)  promptly
give to each Holder written notice thereof; and 


         (ii)  include
in such registration (and any related qualification under blue sky laws or other compliance), and in any underwriting involved therein, all the Registrable
Securities 




6







 





specified
in a written request or requests made within fifteen (15) days after the deemed receipt of such written notice from the Company by any Holder, but only to the extent set forth in  Section 1.6(b) herein. 




        (b)   Underwriting. If the registration of which the Company gives notice is for a registered public offering involving an
underwriting, the Company shall so advise the Holders as a part of the written notice given pursuant to Section 1.6(a)(i). In such event, the
right of any Holder to registration pursuant to Section 1.6 shall be conditioned upon such Holder's participation in such underwriting and the
inclusion of Registrable Securities in the underwriting to the extent provided herein. All Holders proposing to distribute their securities through such underwriting shall (together with the Company
and the other holders distributing their securities through such underwriting) enter into and perform their obligations under an underwriting agreement in customary form with the managing underwriter
selected for such underwriting by the Company. Notwithstanding any other provision of this Section 1.6, if the managing underwriter determines
that marketing factors require a limitation of the number of shares to be underwritten, the managing underwriter may limit the number of Registrable Securities to be included in the registration and
underwriting on a pro rata basis based on the total number of securities (including, without limitation, Registrable Securities) entitled to
registration pursuant to registration rights granted to the participating Holders by the Company; provided, that, (i) with respect to the IPO,
the managing underwriter may exclude all of such Registrable Securities and (ii) with respect to any registration following the IPO, the managing underwriter may exclude only such number of
Registrable Securities as would provide the Holders requesting registration with at least thirty percent (30%) of the total number of shares to be registered and sold pursuant to such registration;  provided
further that (X) in no event shall any Registrable Securities be excluded from such offering unless all other shareholders' securities
are first excluded and (Y) any Registrable Securities held by a Founder shall be excluded before any other Registrable Securities are excluded. To facilitate the allocation of shares in
accordance with the above provisions, the Company or the underwriters may round the number of shares allocated to any Holder or other holder to the nearest 100 shares. For purposes of the preceding
sentence concerning apportionment, for any selling stockholder that is a Holder of Registrable Securities and that is a venture capital fund, partnership or corporation, the affiliated venture capital
funds, partners, retired partners and stockholders of such Holder, or the estates and family members of any such partners and retired partners and any trusts for the benefit of any of the foregoing
persons shall be deemed to be a single "selling Holder," and any pro rata reduction with respect to such "selling Holder" shall be based upon the
aggregate amount of Registrable Securities owned by all such related entities and individuals. 



If
any Holder or other holder disapproves of the terms of any such underwriting, he or she may elect to withdraw therefrom by written notice to the Company and the managing underwriter. Any securities
excluded or withdrawn from such underwriting shall be withdrawn from such registration, and shall not
be transferred in a public distribution prior to ninety (90) days after the effective date of the registration statement relating thereto. 


        (c)   Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by
it under this Section 1.6 prior to the effectiveness of such registration, whether or not any Holder has elected to include Registrable
Securities in such registration. The expenses of such withdrawn registration shall be born by the Company in accordance with Section 1.9 hereof. 




        1.7.    Registration on Form S-3.    



        (a)   The
Company shall use its best efforts to qualify for registration on Form S-3 or any comparable or successor form. To that end the Company shall
register (whether or not required by law to do so) its Common Stock under the Exchange Act in accordance with the provisions of the 



7







 

Exchange
Act following the effective date of the first registration of any securities of the Company on Form S-1 or any comparable or successor form or forms. 


        (b)   If,
at any time after the Company is entitled to use Form S-3 (or any successor form to Form S-3) for a public offering of
Registrable Securities, any Holder or Holders request that the Company file a registration statement on Form S-3, the reasonably anticipated aggregate price to the public of
which, net of underwriting discounts and commissions, would exceed $500,000, the Company shall use its best efforts to cause such Registrable Securities to be registered for the offering on such form.
The Company will (i) promptly give written notice of the proposed registration to all other Holders, and (ii) as soon as practicable, use its best efforts to effect such registration
(including, without limitation, the execution of an undertaking to file post-effective amendments, appropriate qualification under applicable blue sky or other state securities laws and
appropriate compliance with applicable regulations issued under the Securities Act and any other governmental requirements or regulations) as may be so requested and as would permit or facilitate the
sale and distribution of all or such portion of such Registrable Securities as are specified in such request, together with all or such portion of the Registrable Securities of any Holder or Holders
joining in such request as are specified in a written request received by the Company within thirty (30) days after the deemed receipt of the written notice from the Company referred in the
preceding clause (i). The applicable substantive provisions of Section 1.5(b) shall be applicable to each registration initiated under
this Section 1.7. 


        (c)   Notwithstanding
the foregoing, the Company shall not be obligated to take any action pursuant to this Section 1.7:
(i) in any particular jurisdiction in which the Company would be required to execute a general consent to service of process in effecting such registration, qualification or compliance unless
the Company is already subject to service in such jurisdiction and except as may be required by the Securities Act; (ii) during the period starting with the date sixty (60) days prior to
the filing of, and ending on the later of (x) six months from the date sixty (60) days prior to the Company's estimated date of filing of any registration statement pertaining to
securities of the Company (other than a registration
of securities in a Rule 145 transaction or with respect to an employee benefit plan), provided that the registration statement has not become effective during such time period, or (y) a
date six (6) months following the effective date of any registration statement (other than with respect to a registration statement relating to a Rule 145 transaction, an offering solely
to employees or any other registration which is not appropriate for the registration of Registrable Securities), provided in the case of clauses (A) or (B) that the Company is actively
employing in good faith all reasonable efforts to cause such registration statement to become effective; or (iii) if the Company shall furnish to such Holder a certificate signed by the
President or Chief Executive Officer of the Company stating that, in the good faith judgment of the Board of Directors, it would be seriously detrimental to the Company or its stockholders for
registration statements to be filed in the near future, then the Company's obligation to use its best efforts to file a registration statement shall be deferred for a period not to exceed
one-hundred twenty (120) days from the receipt of the request to file such registration by such Holder or Holders; provided,  however, that the Company
may not utilize this right more than once in any twelve (12) month period; and provided
further that the Company shall not register any securities for the account of itself or any other stockholder during such one hundred twenty (120) day period (other than
a registration relating solely to the sale of securities of participants in a Company stock plan, a registration relating to a corporate reorganization or transaction under Rule 145 of the Act,
a registration on any form that does not include substantially the same information as would be required to be included in a registration statement covering the sale of the Registrable Securities, or
a registration in which the only Common Stock being registered is Common Stock issuable upon conversion of debt securities that are also being registered). 



8







 

        (d)   Registrations
effected pursuant to this Section 1.7 shall not be counted as a request for registration pursuant to  Section 1.5. 




        1.8.    Limitations on Subsequent Registration Rights.    From and after the date hereof, the Company shall not,
without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement granting any holder or prospective holder of any securities of
the Company registration rights with respect to such securities unless such new registration rights, including standoff obligations, are on a pari passu
basis or are subordinate to the registration rights granted to the Holders hereunder. 


        1.9.    Expenses of Registration.    All Registration Expenses incurred in connection with any registration pursuant
to Sections 1.5, 1.6 and 1.7 and the reasonable cost of one special legal counsel to represent all of the Holders together in any such registration shall be borne by the Company, provided that the
Company shall not be required to pay the Registration Expenses of any registration proceeding begun pursuant to Section 1.5, the request of which has been subsequently withdrawn by the
Initiating Holders, unless the withdrawal is based upon material adverse information concerning the Company of which the Initiating Holders were not aware at the time of such request, in which case
the Company shall pay all Registration Expenses. In such case, (i) the Holders of Registrable Securities to have been registered shall bear all such Registration Expenses pro rata on the basis
of the number of shares to have been registered, and (ii) the Company shall be deemed not to have effected a registration pursuant to
subparagraph 1.5(a) of this Agreement. Unless otherwise agreed, all Selling Expenses relating to securities registered on behalf of the Holders shall be borne by the Holders of the registered
securities included in such registration pro rata on the basis of the number of shares so registered. 


        1.10.    Registration Procedures.    In the case of each registration, qualification or compliance effected by the
Company pursuant to this Section 1, the Company will keep each Holder advised in writing as to the initiation of each registration, qualification and compliance and as to the completion thereof
and, at its expense, the Company will: 



        (a)   Prepare
and file with the Commission a registration statement with respect to such securities and use its best efforts to cause such registration statement to become and
remain effective for at least ninety (90) days or until the distribution described in the registration statement has been completed; provided,  however,
 that in the case of any registration of Registrable Securities on Form S-3 which are intended to be offered on a continuous
or delayed basis, such period shall be extended, if necessary, to keep the registration statement effective until all such Registrable Securities are sold, provided that if Rule 415, or any
successor rule under the Securities Act, permits an offering on a continuous or delayed basis, and provided further that if applicable rules under the Securities Act governing the obligation to
file a post-effective amendment permit, in lieu of filing a post-effective amendment which (y) includes any prospectus required by Section 10(a)(3) of the
Securities Act or (z) reflects facts or events representing a material or fundamental change in the information set forth in the registration statement, the incorporation by reference of
information required to be included in (y) and (z) above shall be contained in periodic reports filed pursuant to Section 13 or 15(d) of the Exchange Act in the registration
statement; 


        (b)   In
the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing
underwriter of such offering; 


        (c)   Furnish
to the Holders participating in such registration and to the underwriters of the securities being registered such reasonable number of copies of the registration
statement, preliminary prospectus, final prospectus and such other documents as such underwriters may reasonably request in order to facilitate the public offering of such securities; 



9







 

        (d)   Prepare
and file with the Commission such amendments and supplements to such registration statement and the prospectus used in connection with such registration
statements as may be necessary to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by such registration statement; 


        (e)   Notify
each seller of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the
Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary to make the statements therein not misleading or incomplete in the light of the circumstances then existing, and at the request of any
such seller, prepare and furnish to such seller a reasonable number of copies of supplement to or an amendment of such prospectus as may be necessary so that, as thereafter delivered to the purchaser
of such shares, such prospectus shall not include an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein not
misleading or incomplete in light of the circumstances then existing; 



        (f)    Use
its best efforts to register and qualify the securities covered by such registration statement under such other securities or blue sky laws of such jurisdictions as
shall be reasonably requested by the Holders, provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions; 


        (g)   Cause
all such Registrable Securities to be listed on each securities exchange or trading system on which similar securities issued by the Company are then listed; 



        (h)   Provide
a transfer agent and registrar for all Registrable Securities and a CUSIP number for all such Registrable Securities, in each case not later than the effective
date of such registration; 


        (i)    Make
available for inspection by any Holder participating in such registration, any underwriter participating in any disposition pursuant to such registration, and any
attorney or accountant retained by any such Holder or underwriter, all financial and other records, pertinent corporate documents and properties of the Company, and cause the Company's officers and
directors to supply all information reasonably requested by any such Holder, underwriter, attorney or accountant in connection with such registration statement; provided, however, that such Holder,
underwriter, attorney or accountant shall agree in writing to hold in confidence and trust all non-public information so provided. 




        1.11.    Indemnification.    



        (a)   The
Company will indemnify each Holder, each of its officers and directors and partners, and each person controlling such Holder within the meaning of Section 15
of the Securities Act, with respect to which registration, qualification or compliance has been effected pursuant to this Section 1, and each
underwriter, if any, and each person who controls any underwriter within the meaning of Section 15 of the Securities Act, against all expenses, claims, losses, damages or liabilities (or
actions in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus, offering circular or
other document, or any amendment or supplement thereto, incident to any such registration, qualification or compliance, or based on any omission (or alleged omission) to state therein a material fact
required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made, not misleading, or any violation by the Company of any rule or
regulation promulgated under the Securities Act or any state securities laws, rules or regulations applicable to the Company in connection with any such registration, qualification or compliance, and
the Company will reimburse each such Holder, each of its 



10







 

officers,
directors and partners, and each person controlling such Holder, each such underwriter and each person who controls any such underwriter, for any legal and any other expenses reasonably
incurred in connection with investigating, preparing or defending any such claim, loss, damage, liability or action, as such expenses are incurred, provided that the Company will not be liable in any
such case to the extent that any such claim, loss, damage, liability or expense arises out of or is based on any untrue statement or omission or alleged untrue statement or omission, made in reliance
upon and in conformity with written information furnished to the Company by an instrument duly executed by such Holder, controlling person or underwriter and stated to be specifically for use therein. 


        (b)   Each
Holder will, if Registrable Securities held by such Holder are included in the securities as to which such registration, qualification or compliance is being
effected, indemnify the Company, each of its directors and officers, each underwriter, if any, of the Company's securities covered by such a registration statement, each person who controls the
Company or such underwriter within the meaning of Section 15 of the Securities Act, and each other such Holder, each of its officers, directors and partners and each person controlling such
Holder within the meaning of Section 15 of the Securities Act, against all claims, losses, damages and liabilities (or actions in respect thereof) arising out of or based on any untrue
statement (or alleged untrue statement) of a material fact contained in any such registration statement, prospectus, offering circular or other document, or any omission (or alleged omission) to state
therein a material fact required to be stated therein or necessary to make the statements therein not misleading, and will reimburse the Company, such Holders, such directors, partners, officers,
persons, underwriters or control persons for any legal or any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action, as
such expenses are incurred, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration
statement, prospectus, offering circular or other document in reliance upon and in conformity with written information furnished to the Company by an instrument duly executed by such Holder and stated
to be specifically for use therein; provided that in no event shall any indemnity under this subparagraph 1.11(b) exceed the net proceeds received by such Holder in such registration. 


        (c)   Each
party entitled to indemnification under this Section 1.11 (the "Indemnified
Party") shall give notice to the party required to provide indemnification (the "Indemnifying Party") promptly after such
Indemnified Party has actual knowledge of any claim as to which indemnity may be sought, and shall
permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided that counsel for the Indemnifying Party, who shall conduct the defense of such
claim or litigation, shall be approved by the Indemnified Party (whose approval shall not unreasonably be withheld), and the Indemnified Party may participate in such defense at such party's expense;
provided, however, that an Indemnified Party (together with all other Indemnified Parties which may be represented without conflict by one counsel) shall have the right to retain one separate counsel,
with the fees and expenses to be paid by the Indemnifying Party, if representation of such Indemnified Party by the counsel retained by the Indemnifying Party would be inappropriate due to actual or
potential differing interests between such Indemnified Party and any other party represented by such counsel in such proceeding. The failure of any Indemnified Party to give notice as provided herein
shall not relieve the Indemnifying Party of its obligations under this Section 1.11 unless the failure to give such notice is materially prejudicial to an Indemnifying Party's ability to defend
such action (and then only to the extent of such prejudice). No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified Party, consent to
entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all
liability in respect to such claim or litigation. 



11







 

        (d)   If
the indemnification provided for in this Section 1.11 is held by a court of competent jurisdiction to be
unavailable to an Indemnified Party with respect to any claim, loss, damage, liability or action referred to herein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party
hereunder, shall contribute to the amount paid or payable to such Indemnified Party as a result of such claim, loss, damage, liability or action in such proportion as is appropriate to reflect the
relative fault of the Indemnifying Party on the one hand and the Indemnified Party on the other in connection with the actions that resulted in such claims, loss, damage, liability or action, as well
as any other relevant equitable considerations. The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission to state a material fact related to information supplied by the Indemnifying Party or by the Indemnified Party and the parties' relative
intent, knowledge, access to information and opportunity to correct or prevent such statement or omission, provided that in no event shall any contribution by a Holder under this  Section 1.11(d) exceed the net proceeds received by such Holder in such registration. The Company and the Holders agree that it would not be just
and equitable if contribution pursuant to this Section 1.11(d) were based solely upon the number of entities from whom contribution was requested
or by any other method of allocation which does not take account of the equitable considerations referred to above in this Section 1.11(d). 


        (e)   The
amount paid or payable to an Indemnified Party as a result of the losses, claims, damages and liabilities referred to above in this  Section 1.11 shall be deemed to include any legal or other
expenses reasonably incurred by such Indemnified Party in connection with
investigating or defending any such action or claim, subject to the provisions of Section 1.11 hereof. Notwithstanding the provisions of this  Section 1.11, no Holder shall be required to contribute any amount or make any other payments under this Agreement which in the aggregate exceed
the net proceeds (after selling expenses) received by such Holder. No person guilty of fraudulent misrepresentation (within the meaning of the Securities Act) shall be entitled to contribution from
any person who was not guilty of such fraudulent misrepresentation. 


        (f)    The
obligations of the Company and any Holders under this Section 1.11 shall survive the completion of any
offering of Registrable Securities in a registration statement under this Section 1. 




        1.12.    Information by Holder.    The Holder or Holders of Registrable Securities included in any registration shall
furnish to the Company such information regarding such Holder or Holders, the Registrable Securities held by them and the distribution proposed by such Holder or Holders as the Company may reasonably
request in writing and as shall be required in connection with any registration, qualification or compliance referred to in this Section 1. 


        1.13.    Rule 144 Reporting.    With a view to making available the benefits of certain rules and regulations
of the Commission which may at any time permit the sale of the Restricted Securities to the public without registration or pursuant to Form S-3, after such time as a public market
exists for the Common Stock of the Company, the Company agrees to: 



        (a)   Make
and keep public information available, as those terms are understood and defined in Rule 144 under the Securities Act, at all times after the effective date
that the Company becomes subject to the reporting requirements of the Securities Act or the Exchange Act; 


        (b)   File
with the Commission in a timely manner all reports and other documents required of the Company under the Securities Act and the Exchange Act (at any time after it
has become subject to such reporting requirements); and 



        (c)   So
long as a Holder owns any Restricted Securities, to furnish to such Holder forthwith upon request a written statement by the Company as to its compliance with the
reporting 



12







 




requirements
of said Rule 144 (at any time after ninety (90) days after the effective date of the first registration statement filed by the Company for an offering of its securities to
the general public), and of the Securities Act and the Exchange Act (at any time after it has become subject to such reporting requirements) or that it qualifies as a registrant whose securities may
be resold pursuant to Form S-3 (at any time it so qualifies), a copy of the most recent annual or quarterly report of the Company, and such other reports and documents of the
Company and other information in the possession of or reasonably obtainable by the Company as a Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing a
Holder to sell any such securities without registration or pursuant to such Form S-3. 




        1.14.    Transfer of Registration Rights.    The rights to cause the Company to register securities granted to any
party hereto under Sections 1.5, 1.6 and 1.7 may be assigned to a transferee or assignee in connection
with any transfer or assignment of Registrable Securities by such party (together with any affiliate); provided that (a) such transfer may otherwise be effected in accordance with applicable
securities laws, (b) prior written notice of such assignment is given to the Company and (c) such transferee or assignee (i) is a wholly-owned subsidiary or constituent partner or
limited liability company member (including limited partners, retired partners, spouses and ancestors, lineal descendants and siblings of such partners or spouses who acquire Registrable Securities by
gift, will or intestate succession) or affiliate of such party, or (ii) acquires from such party at least 500,000 of the Registrable Securities (as appropriately adjusted for any stock splits,
consolidations, reorganizations and the like). Notice must be given to the Company and the Company must give its consent in writing for any other assignment to occur and such consent shall not be
unreasonably withheld. 


        1.15.    Standoff Agreement.    Each party hereto agrees in connection with the Company's IPO that, upon request of
the underwriters managing any underwritten offering of the Company's securities, not to sell, make any short sale of, loan, pledge or otherwise hypothecate or encumber, grant any option for the
purchase of, or otherwise dispose of any Shares (other than those included in the registration) without the prior written consent of such underwriters, as the case may be, for such period of time (not
to exceed one hundred eighty (180) days from the effective date of such registration) as may be requested by such managing underwriters, provided, however, that this Section 1.15 shall
apply only as long as all officers, directors and 1% stockholders of the Company enter into similar agreements. For purposes of this Section 1.15, the term "Company" shall include any
wholly-owned subsidiary of the Company into which the Company merges or consolidates. In order to enforce the foregoing covenant, the Company shall have the right to place restrictive legends on the
certificates representing the shares subject to this section and to impose stop transfer instructions with respect to the Registrable Securities and such other shares of stock of each Holder (and the
shares or securities of every other person subject to the foregoing restriction) until the end of such period. Each Holder further agrees to enter into any agreement reasonably required by the
underwriters to implement the foregoing within any reasonable timeframe so requested. 


        1.16.    Termination of Rights.    The rights of any particular Holder to cause the Company to register securities
under Sections 1.5, 1.6 and 1.7 shall terminate with respect to such Holder on the earlier of (i) the five (5) year anniversary of the effective date of the Company's IPO and
(ii) such time at which all Registrable Securities held by such Holder (and any affiliate of the Holder with whom such Holder must aggregate its sales under Rule 144) can be sold in any
three (3)-month period without registration in compliance with Rule 144 of the Act and such Holder owns less than one percent (1%) of the Company's outstanding stock, and the Company's Common
Stock is listed on Nasdaq or other similar stock market. 


13







 
 
 

SECTION 2.    



 
  Right of First Offer


        2.1.    Right of First Offer.    



        (a)   Right of First Offer. Subject to the terms and conditions contained in this  Section 2.1, the Company hereby grants to each Investor the right of first offer to
purchase such Investor's Pro Rata Portion of any New
Securities (as defined in subsection 2.1(b)) which the Company may, from time to time, propose to sell and issue. An Investor's "Pro Rata Portion" for
purposes of this Section 2.1 is the ratio that (x) the sum of the number of shares of the Company's Common Stock held by the Investor or
issuable upon conversion of the Series B-1 Preferred Stock, Series A-1 Preferred Stock, Series A-2.1 Preferred Stock,
Series A-2.2 Preferred Stock, Series A-3 Preferred Stock, Series A-4 Preferred Stock, Series A-5 Preferred Stock and
Series A-6 Preferred Stock then held by such Investor bears to (y) the sum of the total number of shares of Common Stock then outstanding and the number of shares of the
Company's Common Stock issuable upon conversion of any then outstanding Preferred Stock of the Company. An Investor purchasing in full its Pro Rata Portion is hereinafter referred to as a
"Fully Exercising Investor". The sum of the Pro Rata Portions for all Investors equals the "Aggregate Pro Rata
Portion". 


        (b)   Definition of New Securities. Except as set forth below, "New Securities"
shall mean any shares of capital stock of the Company, including Common Stock and Preferred Stock, whether authorized or not, and rights, options or warrants to purchase said shares of Common Stock or
Preferred Stock, and securities of any type whatsoever that are, or may become, convertible into said shares of Common Stock or Preferred Stock. Notwithstanding the foregoing, New Securities does not
include: (i) shares of Common Stock issued or issuable upon conversion of outstanding shares of Preferred Stock; (ii) any shares of Common Stock or Preferred Stock (or options, warrants
or rights therefor) granted or issued hereafter to employees, officers, directors, contractors, consultants or advisers to, the Company or any subsidiary of the Company pursuant to incentive
agreements, stock purchase or stock option plans, stock bonuses or awards, warrants, contracts or other arrangements that are approved by the Board of Directors of the Company; (iii) any shares
of Common Stock or Preferred Stock (and/or options or warrants therefore) issued to parties that are (A) strategic partners investing in connection with a commercial relationship with the
Company or (B) providing the Company with equipment leases, real property leases, loans, credit lines, guaranties of indebtedness, cash price reductions or similar transactions, under
arrangements, in each case, approved by the Board of Directors of the Company; (iv) shares of Common Stock or Preferred Stock issued pursuant to the acquisition of another corporation or entity
by the Company by consolidation, merger, purchase of all or substantially all of the assets, or other reorganization in which the Company acquires, in a single transaction or series of related
transactions, all or substantially all of the assets of such other corporation or entity or fifty percent (50%) or more of the voting power of such other corporation or entity or fifty percent (50%)
or more of the equity ownership of such other entity; provided that such transaction or series of transactions has been approved by the Company's Board of Directors; (v) shares of Common Stock
or Preferred Stock issuable upon exercise of any options, warrants or rights to purchase any securities of the Company outstanding as of the date hereof and any securities issuable upon the conversion
thereof; (vi) shares of Common Stock issued pursuant to (A) the issue by the Company of additional shares of Common Stock as a dividend or other distribution on outstanding Common Stock,
(B) a subdivision of the outstanding shares of Common Stock into a greater number of shares of Common Stock, or (C) a combination of the outstanding shares of Common Stock into a smaller
number of shares of Common Stock, provided that for the purpose of clauses (A), (B) and (C), such issue, dividend or combination shall have been approved by the Board of Directors of the
Company; and (vii) shares of Common Stock issued or issuable in a public offering prior to or 



14







 




in
connection with which all outstanding shares of Preferred Stock are converted to Common Stock pursuant to the Company's certificate of incorporation. 


        (c)   Notice of Right. In the event the Company proposes to undertake an issuance of New Securities, it shall give each
Investor written notice of its intention, describing the type of New Securities and the price and terms upon which the Company proposes to issue the same. Each Investor shall have fifteen
(15) days from the date of the deemed receipt of any such notice to agree to purchase shares of such New Securities (up to the amount referred to in subsection 2.1(a) and, subject to the limits
described in this subsection (c), additional shares (if and to the extent available) of Unsubscribed Shares (as defined below)), for the price and upon the terms specified in the notice, by giving
written notice to the Company and stating therein the quantity of New Securities to be purchased. In the event that a Fully Exercising Investor's notice includes notice of such Fully Exercising
Investor's intent to purchase additional New Securities, should not all Investors choose to purchase their Pro Rata Portion set forth in subsection 2.1(a) (such number of New Securities, which
Investors have the right, but elect not, to purchase hereunder is referenced as the "Unsubscribed Shares"), each such Fully Exercising Investor shall be
entitled to purchase that number of Unsubscribed Shares equal to its pro rata portion of such Unsubscribed Shares. For purposes of this  Section 2.1(c), a Fully Exercising Investor's pro rata
portion
of Unsubscribed Shares is the ratio that (x) the sum of the number of shares of the Company's Common Stock held by the Fully Exercising Investor or issuable upon conversion of the
Series B-1 Preferred Stock, Series A-1 Preferred Stock, Series A-2.1 Preferred Stock, Series A-2.2 Preferred Stock,
Series A-3 Preferred Stock, Series A-4 Preferred Stock, Series A-5 Preferred Stock and Series A-6 Preferred Stock then held
by such Fully Exercising Investor bears to (y) the sum of the number of shares of the Company's Common Stock held by all Fully Exercising Investors or issuable upon conversion of the
Series B-1 Preferred Stock, Series A-1 Preferred Stock, Series A-2.1 Preferred Stock, Series A-2.2 Preferred Stock,
Series A-3 Preferred Stock, Series A-4 Preferred Stock, Series A-5 Preferred Stock and Series A-6 Preferred Stock then held
by all Fully Exercising Investors. For the sake of clarity, the maximum amount of the New Securities that the Investors have the right hereunder to purchase shall not exceed the Aggregate Pro Rata
Portion of the New Securities. 


        (d)   Exercise of Right. If any Investor exercises its right of first offer hereunder, the closing of the purchase of the New
Securities by such Investor with respect to which such right has been exercised shall take place within ninety (90) calendar days after the Investor gives notice of such exercise, which period
of time shall be extended in order to comply with applicable laws and regulations. Upon exercise of such right of first offer, the Company and such Investor shall be legally obligated to consummate
the purchase contemplated thereby and shall use their best efforts to secure any approvals required in connection therewith. 



        (e)   Lapse and Reinstatement of Right. In the event the Investors fail to exercise the right of first offer provided in this  Section 2.1 for all the New Securities
proposed to be sold by the Company within said fifteen (15) day period, the Company shall have
ninety (90) days thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within sixty (60) days from the
date of said agreement) to sell the New Securities not elected to be purchased by such Investors at the price and upon the terms no more favorable to the purchasers of such securities than specified
in the Company's notice. In the event the Company has not sold the New Securities or entered into an agreement to sell the New Securities within said ninety (90) day period (or sold and issued
New Securities in accordance with the foregoing within sixty (60) days from the date of said agreement), the Company shall not thereafter issue or sell any New Securities without first offering
such securities to the Investors in the manner provided under this Section 2.1. 


        (f)    Assignment. The rights granted pursuant to Sections 2.1 may be assigned to a transferee or assignee in connection with
any transfer or assignment of Registrable Securities by such party 



15







 




(together
with any affiliate); provided that (a) such transfer may otherwise be effected in accordance with applicable securities laws, (b) prior written notice of such assignment is
given to the Company and (c) such transferee or assignee (i) is a wholly-owned subsidiary or constituent partner or limited liability company member (including limited partners, retired
partners, spouses and ancestors, lineal descendants and siblings of such partners or spouses who acquire Registrable Securities by gift, will or intestate succession) or affiliate of such party, or
(ii) acquires from such party at least 500,000 of the Registrable Securities (as appropriately adjusted for any stock splits, consolidations, reorganizations and the like). Notice must be given
to the Company and the Company must give its consent in writing for any other assignment to occur and such consent shall not be unreasonably withheld. 




        2.2.    Termination of Right of First Offer.    The right of first offer granted under Section 2.1 of this
Agreement shall terminate and be of no further force or effect immediately prior to the earliest of the following: 



        (a)   immediately
prior to the closing of a firm commitment underwritten public offering pursuant to an effective registration statement filed under the Securities Act of
1933, as amended, covering the offer and sale of Common Stock for the account of the Company in which (i) the per share price to the public is at least $4.10 (before deduction of underwriters'
discounts and commissions and which price shall be adjusted for any stock splits, combinations, reorganizations and the like), and (ii) the aggregate public offering price (before deduction of
underwriters' discounts and commissions) is at least $25,000,000; or 


        (b)   the
acquisition of the Company by any person or entity by means of any transaction or series of related transactions by the Company or its stockholders in which the
stockholders of the Company immediately prior to such transaction or series of related transactions own less than 50% of the Company's voting power immediately after such transaction or series of
related transactions (including, without limitation, any reorganization, merger or consolidation but excluding any merger effected exclusively for the purpose of changing the domicile of the Company);
(ii) the closing of the transfer (whether by merger, consolidation or otherwise), in one transaction or a series of related transactions, by stockholders of the Company to a person or group of
affiliated persons (other than an underwriter of the Company's securities), of the Company's then outstanding securities if, after such closing, such person or group of affiliated persons would hold
50% or more of the outstanding voting stock of the Company; or (iii) the sale, lease, assignment, transfer, conveyance, or disposal of all or substantially all of the assets of the Company or
the license of the Company's technology that would constitute a sale of all or substantially all of the assets of the Company (each of the foregoing, a "Liquidation Event"). 



 
 

SECTION 3.    



 
  Affirmative Covenants of the Company


        The
Company hereby covenants and agrees as follows: 


        3.1.    Financial Information.    The Company will maintain true books and records of account in which full and
correct entries will be made of all its business transactions pursuant to a system of accounting established and administered in accordance with generally accepted accounting principles consistently
applied, and will set aside on its books all such proper accruals and reserves as shall be required under generally accepted accounting principles consistently applied. So long as an Investor is a
holder of at least 400,000 shares of the Series B-1 Preferred Stock (as adjusted for any stock splits, consolidations, reorganizations and the like) or a number of Shares equal to
at least 1,000,000 of the 


16







 



Registrable
Securities (as appropriately adjusted for any stock splits, consolidations, reorganizations and the like), the Company will furnish to such Investor the following reports: 



        (a)   As
soon as practicable after the end of each fiscal year, and in any event within ninety (90) days thereafter, consolidated balance sheets of the Company and its
subsidiaries, if any, as of the end of such fiscal year, and consolidated statements of income and cash flows of the Company and its subsidiaries, if any, for such year, prepared in accordance with
generally accepted accounting principles and setting forth in each case in comparative form the figures for the previous fiscal year, all in reasonable detail and certified by independent public
accountants of national standing selected by the Company; and 


        (b)   As
soon as practicable, but in any event within forty-five (45) days after the end of each of the first three (3) quarters of each fiscal year
of the Company, an unaudited profit or loss statement, schedule as to the sources and application of funds for such fiscal quarter and an unaudited balance sheet of the Company and its subsidiaries,
if any, prepared in accordance with generally accepted accounting principles, with the exception that no notes need be attached and year-end audit adjustments may not have been made, and a
statement of stockholder's equity, all for such quarter and for the current year to date and a statement showing the number of shares of each class and series of capital stock and securities
convertible into or exercisable for shares of capital stock outstanding at the end of the period, the number of common shares issuable upon conversion or exercise of any outstanding securities
convertible or exercisable for common shares and the exchange ratio or exercise price applicable thereto, all in sufficient detail as to permit the Investor to calculate its percentage equity
ownership in the Company. 


        (c)   No
later than sixty (60) days prior to the end of each fiscal year, an annual budget for the upcoming fiscal year. 


        (d)   As
soon as practicable after the end of each calendar month, and in any event within 30 days thereafter, unaudited consolidated balance sheets of the Company and
its subsidiaries, if any, as of the end of each calendar month, and unaudited consolidated statements of profit or loss and of cash flow for such period and for the current fiscal year to date and
setting forth in each case in comparative form the figures for the corresponding periods of the previous fiscal year. 



        (e)   Such
other information relating to the financial condition, business or corporate affairs of the Company as the Investor may from time to time request,  provided, however, that the Company shall not be obligated under this subsection (e) or any other
subsection of Section 3.1 to provide information that it deems in good faith to be a trade secret or similar confidential information. 




        3.2.    Operating Plan and Budget.    So long as an Investor holds at least 400,000 shares of the
Series B-1 Preferred Stock (as adjusted for any stock splits, consolidations, reorganizations and the like) or a number of Shares equal to at least 1,000,000 of the Registrable
Securities (as appropriately adjusted for any stock splits, consolidations, reorganizations and the like), as soon as practicable upon approval or adoption by the Board of Directors, the Company will
furnish such Investor with the Company's budget and operating plan (including projected balance sheets and profit and loss and cash flow statements) for such fiscal year. 


        3.3.    Inspection.    The Company shall permit each Investor, for so long as such Investor holds at least 400,000
shares of the Series B-1 Preferred Stock (as adjusted for any stock splits, consolidations, reorganizations and the like) or a number of Shares equal to at least 1,000,000 of the
Registrable Securities (as appropriately adjusted for any stock splits, consolidations, reorganizations and the like), at such Investor's expense, to visit and inspect the Company's properties, to
examine its books of account and records and to discuss the Company's affairs, finances and accounts with its officers, all at such reasonable times as may be requested by the Investor; provided,
however, that the Company shall 


17







 



not
be obligated pursuant to this Section 3.3 to provide access to any information which it reasonably considers to be a trade secret or similar confidential information. 


        3.4.    Assignment of Rights to Financial Information.    The rights granted pursuant to Sections 3.1, 3.2 and 3.3 may
be assigned to a transferee or assignee in connection with any transfer or assignment of Registrable Securities by such party (together with any affiliate); provided that (a) such transfer may
otherwise be effected in accordance with applicable securities laws, (b) prior written notice of such assignment is given to the Company, (c) such transferee or assignee (i) is a
wholly-owned subsidiary or constituent partner or limited liability company member (including limited partners, retired partners, spouses and ancestors, lineal descendants and siblings of such
partners or spouses who acquire
Registrable Securities by gift, will or intestate succession) or affiliate of such party, or (ii) acquires from such party at least 500,000 of the Registrable Securities (as appropriately
adjusted for any stock splits, consolidations, reorganizations and the like) and (d) such transferee or assignee is not a competitor, or affiliated within the meaning of Rule 144 under
the Securities Act with a competitor, of the Company in the good faith judgment of the Company. Notice must be given to the Company and the Company must give its consent in writing for any other
assignment to occur and such consent shall not be unreasonably withheld. 



        3.5.    Termination of Covenants.    The covenants set forth in Sections 3.1 through 3.4 shall terminate on, and be of
no further force or effect after the earliest of the following: 



        (a)   the
date on which the Company is required to file reports with the Commission pursuant to Section 13 or 15(d) of the Exchange Act; or 


        (b)   the
date of the closing of any Liquidation Event. 




        3.6.    Delivery of Qualified Small Business Stock Representations.    The Company covenants and agrees, on the
reasonable request of any Investor, to conduct a reasonable investigation into the question of whether the Shares or Conversion Shares are "qualified small business stock" within the meaning of the
Internal Revenue Code of 1986, as amended, and to thereafter deliver to such Investor a duly executed Certificate of Representations in the form attached hereto as Exhibit A (the
"QSBS Certificate"). If the Company is unable to deliver an executed QSBS Certificate because representation statement 2 in the QSBS Certificate is
inaccurate, the Company covenants and agrees to deliver a statement explaining the reasons for such inaccuracy. 



        3.7.    Definition of Investor.    For purposes of determining the amount of Shares held by an Investor, all Investors
affiliated with, or controlling, controlled by or under common control with, any Investor shall be treated as a single Investor. 


        3.8.    Certain Covenants Relating to SBA Matters.    



        (a)   Use of Proceeds. The proceeds from the issuance and sale of the Series B-1 Preferred Stock pursuant to
the Stock Purchase Agreement (the "Proceeds") shall be used by the Company for its growth, modernization or expansion. The Company shall provide each
Investor which is a licensed Small Business Investment Company (an "SBIC Investor") and the Small Business Administration reasonable access to the
Company's books and records for the purpose of confirming the use of Proceeds. 


        (b)   Business Activity. For a period of one year following the Initial Closing, as defined in the Stock Purchase Agreement,
the Company shall not change the nature of its business activity if such change would render the Company ineligible as provided in Section 107.720 of Title 13 of the Code of Federal Regulations
(the "Federal Regulations"). 


        (c)   Compliance. So long as any SBIC Investor holds any securities of the Company, the Company will at all times comply with
the non-discrimination requirements of Parts 112, 113 and 117 of Title 13 of the Federal Regulations. 



18







 

        (d)   Information for SBIC Investor. Upon reasonable request, the Company agrees to promptly provide each SBIC Investor with
sufficient information to permit such SBIC Investor to comply with their obligations under the Small Business Investment Act of 1958, as amended, and the regulations promulgated thereunder and related
thereto; provided, however, each SBIC Investor agrees that it will protect any information which the Company labels as confidential to the extent permitted by law. Any submission of any financial
information to an SBIC Investor under this Section shall include a certificate of the Company's president, chief executive officer, treasurer or chief financial officer as to the accuracy of such
information. 



 
 

SECTION 4.    



 
  Miscellaneous


        4.1.    Assignment.    Except as otherwise provided herein, the terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the respective successors and assigns of the parties hereto. 



        4.2.    Third Parties.    Nothing in this Agreement, express or implied, is intended to confer upon any party, other
than the parties hereto, and their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided herein. 


        4.3.    Governing Law.    This Agreement shall be governed by and construed under the laws of the State of California
without regard to choice of laws or conflict of laws' provisions thereof. 



        4.4.    Aggregation of Shares.    For the purposes of determining the availability of any rights under this Agreement,
the holdings of (i) any transferee and assignee of an individual who is a spouse, ancestor, lineal descendant, adopted child, parent, grandparent or sibling of such individual, (ii) any
partnership and partners or retired partners of such partnership, any corporation or other business organization to which such partnership shall sell all or substantially all of its assets or with
which it shall be merged or affiliates of such partnership (including spouses and ancestors, lineal descendants and siblings of such partners or spouses who acquire Common Stock or Preferred Stock by
gift, will or intestate succession), (iii) any limited liability company and any of its members, any corporation or other business organization to which such limited liability company shall
sell all or substantially all of its assets or with which it shall be merged or any affiliate of such limited liability company, or (iv) any corporation and any corporation or other business
organization to which such corporation shall sell or transfer all or substantially all of its assets or with which it shall be merged and any affiliate of such corporation shall be aggregated together
with the individual, partnership, limited liability company or corporation as the case may be, for the purpose of exercising any rights or taking any action under this Agreement. 



        4.5.    Counterparts.    This Agreement may be executed in two or more counterparts and signature pages may be
delivered by facsimile, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 


        4.6.    Notices.    Any notice required or permitted by this Agreement shall be in writing and shall be sent by
prepaid registered or certified mail, return receipt requested, or otherwise delivered by hand or by messenger, or sent by facsimile or e-mail, addressed to the other party, in the case of
the Company or the Founders, to the Company, and in the case of the Investors, to the address set forth on the records of the Company, or at such other address or facsimile number for which such party
gives notice hereunder. Such notice shall be deemed to have been given three (3) days after deposit in the mail. 


        4.7.    Severability.    If one or more provisions of this Agreement are held to be unenforceable under applicable
law, portions of such provisions, or such provisions in their entirety, to the extent 


19







 



necessary,
shall be several from this Agreement, and the balance of this Agreement shall be enforceable in accordance with its terms. 


        4.8.    Amendment and Waiver.    Any provision of this Agreement may be amended or waived with the written consent of
(i) the Company, (ii) the holders of a majority of the aggregate outstanding Registrable Securities held by the Investors and (iii) the holders of a majority of the aggregate
outstanding Shares held by the Founders; provided that (i) no such amendment shall impose or increase
any liability or obligation on a party hereto without the consent of such party and (ii) no such amendment having a disproportionately adverse effect on any party in relation to the other
parties may be made without consent of such party. Any amendment or waiver effected in accordance with this paragraph shall be binding upon each party to this Agreement. Notwithstanding anything
herein to the contrary, if pursuant to Section 1.2 of the Stock Purchase Agreement, additional parties may purchase shares of the Series B-1 Preferred Stock in any
"Additional Closing" thereunder, then each such new "Investor" thereunder shall become a party to this Agreement as a "Series B-1 Investor" hereunder, without the need for any
consent, approval or signature of any Investor or any Founder when such new "Investor" thereunder has both: (a) purchased shares of Series B-1 Preferred Stock under the Stock
Purchase Agreement and paid the Company all consideration payable for such shares and (b) executed one or more counterpart signature pages to this Agreement. 


        4.9.    Rights of Parties.    Each party to this Agreement shall have the absolute right to exercise or refrain from
exercising any right or rights that such party may have by reason of this Agreement, including, without limitation, the right to consent to the waiver or modification of any obligation under this
Agreement, and such party shall not incur any liability to any other party or other holder of any securities of the Company as a result of exercising or refraining from exercising any such right or
rights. 


        4.10.    Delays or Omissions.    No delay or omission to exercise any right, power or remedy accruing to any party to
this Agreement, upon any breach or default of the other party, shall impair any such right, power or remedy of such non-breaching party nor shall it be construed to be a waiver of any such
breach or default, or an acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any waiver of any single breach or default be deemed a waiver of any other
breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or character on the part of any party of any breach or default under this Agreement, or any
waiver on the part of any party of any provisions or conditions of this Agreement, must be made in writing and shall be effective only to the extent specifically set forth in such writing. All
remedies, either under this Agreement, or by law or otherwise afforded to any holder, shall be cumulative and not alternative. 


        4.11.    Entire Agreement; Effect on Prior Rights Agreement; Attorneys' Fees; Waiver of Rights.    



        (a)   Entire Agreement. This Agreement constitutes the full and entire understanding and agreement between the parties
regarding the subject matter hereof and supersedes and cancels all prior agreements, negotiations, correspondence, undertakings and communications of the parties, oral or written, respecting such
subject matter. 


        (b)   Effect on Prior Rights Agreement. The provisions of this Agreement amend and supersede any rights or obligations under
the Prior Rights Agreement. 


        (c)   Attorneys' Fees. In the event that any suit or action is instituted to enforce any provision of this Agreement, the
prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this
Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. 


        (d)   Waiver of Right of First Refusal. The undersigned Amending Parties hereby waive the right of first refusal set forth in  Section 2.1 of the Prior Rights Agreement
on behalf of all Investors 



20







 




otherwise
entitled to exercise such right of first refusal under the Prior Rights Agreement, including without limitation the 15-day response period thereunder, with respect to the
issuance of the Series B-1 Preferred Stock issued pursuant to the Stock Purchase Agreement, as it may be amended from time to time. 




        4.12.    Specific Performance.    Without limiting the rights of each party hereto to pursue all other legal and
equitable rights available to such party for any other party's failure to perform its obligations under this Agreement, each such party acknowledges and agrees that the remedy at law for any failure
to perform obligations hereunder would be inadequate and all such parties shall be entitled to specific performance, injunctive relief or other equitable remedies in the event of any such failure. 


***** 


21









   
IN WITNESS WHEREOF, the parties have executed this Agreement as of the date and year first written above. 



	 	 	THE COMPANY:
	

 	
 	

OMNEON VIDEO NETWORKS, INC.
	
 	
 	

By:	

/s/  JOSEPH KENNEDY      
 Joseph Kennedy

President and Chief Executive Officer
	
 	
 	
THE INVESTORS:
	

 	
 	

CHANCELLOR V, L.P.
	
 	
 	

By:	

IPC Direct Associates V, LLC, its general partner
	
 	
 	

By:	

INVESCO Private Capital, Inc., its managing member
	
 	
 	

By:	

/s/  ESFANDIAR LOHRASBPOUR      
 Name: Esfandiar Lohrasbpour

Title:
	

 	
 	
CHANCELLOR V-A, L.P.
	
 	
 	

By:	

IPC Direct Associates V, LLC, its general partner
	
 	
 	

By:	

INVESCO Private Capital, Inc., its managing member
	
 	
 	

By:	

/s/  ESFANDIAR LOHRASBPOUR      
 Name: Esfandiar Lohrasbpour

Title:
	

 	
 	
CITIVENTURE 2000, L.P.
	

 	
 	

By:	

IPC Direct Associates V, LLC, its general partner
	

 	
 	

By:	

INVESCO Private Capital, Inc., its managing member
	
 	
 	

By:	

/s/  ESFANDIAR LOHRASBPOUR      
 Name: Esfandiar Lohrasbpour

Title:



22







 

	

 	
 	
EUROMEDIA VENTURE FUND (cotenancy of IPC Direct Associates V, LLC and EuroMedia Venture Belgique, S.A.)
	

 	
 	

By:	

IPC Direct Associates V, LLC, its general partner
	

 	
 	

By:	

INVESCO Private Capital, Inc., its managing member
	
 	
 	

By:	

/s/  ESFANDIAR LOHRASBPOUR      
 Name: Esfandiar Lohrasbpour

Title:
	

 	
 	
CENTRE PALISADES NON-QUALIFIED INVESTORS, L.P.
	

 	
 	

By:	

/s/  PAUL D'ADDARIO      
 Name: Paul D'Addario

Title: Senior Managing Director
	

 	
 	
CENTRE PALISADES QUALIFIED INVESTORS, L.P.
	

 	
 	

By:	

/s/  PAUL D'ADDARIO      
 Name: Paul D'Addario

Title: Senior Managing Director
	

 	
 	
CENTRE PALISADES VENTURES, L.P.
	

 	
 	

By:	

/s/  PAUL D'ADDARIO      
 Name: Paul D'Addario

Title: Senior Managing Director
	

 	
 	
ACCEL VI-S L.P.
	

 	
 	

By:	

Accel VI Associates L.L.C., its General Partner
	

 	
 	

By:	

/s/ [Illegible]
 Title: Attorney-in-Fact
	

 	
 	
ACCEL KEIRETSU VI L.P.
	

 	
 	

By:	

Accel Keiretsu VI L.L.C., its General Partner
	

 	
 	

By:	

/s/ [Illegible]
 Title: Attorney-in-Fact





23







 

	

 	
 	
ACCEL INVESTORS '98 L.P.
	

 	
 	

By:	

/s/ [Illegible]
 Title: Attorney-in-Fact
	

 	
 	
ACCEL INVESTORS '98-S L.P.
	

 	
 	

By:	

Accel VI Associates L.L.C., its General Partner
	

 	
 	

By:	

/s/ [Illegible]
 Title: Attorney-in-Fact
	

 	
 	
NORWEST VENTURE PARTNERS VII-A, LP
	

 	
 	

By:	

Itasca VC Partners VII-A, LLP, its Managing Partner
	

 	
 	

By:	

/s/  PROMOD HAQUE      
 Name: Promod Haque

Title: Managing Director
	

 	
 	
ATV ENTREPRENEURS VII, L.P.
	

 	
 	

By:	

ATV Associates VII, L.L.C., its General Partner
	

 	
 	

By:	

/s/  WES RAFFEL      
 Print Name: Wes Raffel

Title: Managing Director
	

 	
 	
ATV ALLIANCE 2001, L.P.
	

 	
 	

By:	

ATV Alliance Associates, L.L.C., its General Partner
	

 	
 	

By:	

/s/  WES RAFFEL      
 Print Name: Wes Raffel

Title: Director
	

 	
 	
ATV ALLIANCE 2002, L.P.
	

 	
 	

By:	

ATV Alliance Associates, L.L.C., its General Partner
	

 	
 	

By:	

/s/  WES RAFFEL      
 Print Name: Wes Raffel

Title: Director



24







 

	

 	
 	
ADVANCED TECHNOLOGY VENTURES VII, L.P.
	

 	
 	

By:	

ATV Associates VII, L.L.C., its General Partner
	

 	
 	

By:	

/s/  WES RAFFEL      
 Print Name: Wes Raffel

Title: Managing Director
	

 	
 	
ADVANCED TECHNOLOGY VENTURES VII (B), L.P.
	

 	
 	

By:	

ATV Associates VII, L.L.C., its General Partner
	

 	
 	

By:	

/s/  WES RAFFEL      
 Print Name: Wes Raffel

Title: Managing Director
	

 	
 	
ADVANCED TECHNOLOGY VENTURES VII (C), L.P.
	

 	
 	

By:	

ATV Associates VII, L.L.C., its General Partner
	

 	
 	

By:	

/s/  WES RAFFEL      
 Print Name: Wes Raffel

Title: Managing Director
	

 	
 	
IGNITE VENTURES I, L.P.
	

 	
 	

By:	

Ignite Venture Partners LLC—General Partner
	

 	
 	

By:	

/s/  NOBUO MII      
 Print Name: Nobuo Mii

Title: Managing Member
	

 	
 	
LUCENT VENTURE PARTNERS I LLC
	

 	
 	

By:	

/s/  PETER ROKKOS      
 Print Name: Peter Rokkos

Title: V.P.





25







 

	

 	
 	
MERITECH CAPITAL PARTNERS II L.P.
	

 	
 	

By:	

/s/  MICHAEL B. GORDON      
 Print Name: Michael B. Gordon

Title: Managing Member
	

 	
 	
MERITECH CAPITAL AFFILIATES II L.P.
	

 	
 	

By:	

/s/  MICHAEL B. GORDON      
 Print Name: Michael B. Gordon

Title: Managing Member
	

 	
 	
MCP ENTREPRENEUR PARTNERS II
	

 	
 	

By:	

/s/  MICHAEL B. GORDON      
 Print Name: Michael B. Gordon

Title: Managing Member
	

 	
 	
ALFRED & GLADY'S PRATT TISCH TRUST FBO THOMAS TISCH
	

 	
 	

By:	

/s/  THOMAS A. TISCH      
 Print Name: Thomas A. Tisch

Title: Trustee
	

 	
 	
THOMAS A. & ROSEMARY S. TISCH TRUST
	

 	
 	

By:	

/s/  THOMAS A. TISCH      
 Print Name: Thomas A. Tisch

Title: Trustee
	

 	
 	
GC&H INVESTMENTS LLC
	

 	
 	

By:	

/s/  JOHN L. CARDOZA      
 Print Name: John L. Cardoza

Title: Managing Member
	

 	
 	
LIGHTHOUSE CAPITAL PARTNERS II, L.P.
	

 	
 	

By:	

Lighthouse Management Partners II, L.P., its General Partner
	

 	
 	

By:	

Lighthouse Capital Partners Inc., its General Partner
	

 	
 	

By:	

/s/  THOMAS CONNEELY      
 Name: Thomas Conneely

Title: Vice President



26







 

	

 	
 	
LIGHTHOUSE CAPITAL PARTNERS III, L.P.
	

 	
 	

By:	

Lighthouse Management Partners III, L.L.C., its General Partner
	

 	
 	

By:	

/s/  THOMAS CONNEELY      
 Name: Thomas Conneely

Title: Vice President
	

 	
 	
INTEL CAPITAL CORPORATION
	

 	
 	

By:	

/s/  RAVI JACOB      
 Print Name: Ravi Jacob

Title: Vice President, Finance & Enterprise Services

Group Asst Treasurer, M & A
	

 	
 	
JP MORGAN PARTNERS (BHCA), L.P.
	

 	
 	

By:	

JPMP Master Fund Manager, L.P.

Its General Partner
	

 	
 	

By:	

JPMP Capital Corp.,

Its General Partner
	

 	
 	

By:	

/s/  THOMAS SZYMONIAK      
 Print Name: Thomas Szymoniak

Title: Assistant Secretary
	

 	
 	
MICHAEL GRANT WATTERS AND TERRI LYNN WATTERS TRUSTEES OF THE WATTERS FAMILY TRUST U/D/T DATED DECEMBER 17, 1999
	

 	
 	

By:	

/s/  MICHAEL WATTERS      
 Print Name: Michael Watters

Title: Trustee






27







 

	

 	
 	
COMERICA INCORPORATED
	

 	
 	

By:	

/s/  ANTHONY G. MORROW      
 Print Name: Anthony G. Morrow

Title: Vice President, Corporate Counsel & Assistant Secretary
	

 	
 	
FOUNDERS:
	

 	
 	

 	

/s/  DONALD M. CRAIG      
 Donald M. Craig
	

 	
 	

 	

 Michael M. Gilbert
	

 	
 	

 	

 Edward P. Hobson, II
	

 	
 	

 	

/s/  LAWRENCE R. KAPLAN      
 Lawrence R. Kaplan




28








  



EXHIBIT A  


OMNEON VIDEO NETWORKS, INC.,

a Delaware corporation

CERTIFICATE OF REPRESENTATIONS

REGARDING QUALIFIED SMALL BUSINESS STOCK  


        THIS CERTIFICATE OF REPRESENTATIONS REGARDING QUALIFIED SMALL BUSINESS STOCK (this "Certificate") is executed as
of                        ,            by Omneon
Video Networks, Inc., a Delaware corporation (the "Company"), for the benefit
of                        (the
"Stockholder"). As used herein, the term "Stock" means those shares of Company stock issued by the Company to the Stockholder and described more fully
on Schedule A hereto. 


Representations  


        Subject to the limitations and qualifications set forth below, the Company hereby represents as follows: 



        1.     The
Company has conducted a reasonable investigation into the question of whether the Stock is "qualified small business stock"
("QSBS") within the meaning of Section 1202(c) of the Internal Revenue Code of 1986, as amended (the "Code"); and 


        2.     As
of the date first above written, and assuming that the Stockholder has not sold, distributed, or otherwise transferred the Stock, all of the Stock is QSBS. 


Qualifications and Limitations  



        1.     Qualification
of the Stock as QSBS is based, in part, on the value of Company stock or other assets at certain relevant times. For purposes of the representations made in
this Certificate, the Company has made a good faith determination of such values, taking into account all material facts and circumstances, but cannot guarantee that the Internal Revenue Service will
not successfully assert that such determination is incorrect. 


        2.     Qualification
of the Stock as QSBS is based, in part, on whether the Company has been engaged in the active conduct of one or more qualified trades or businesses. The
term "qualified trade or business" set forth in Section 1202(e)(3) of the Code is not clearly defined in all respects. For purposes of the representations made in this Certificate, the Company
has made a good faith effort to apply the definition of qualified trade or business set forth in Section 1202(e)(3) of the Code, but cannot guarantee that the Internal Revenue Service will not
successfully assert a contrary definition. 


        3.     Qualification
of the Stock as QSBS is based, in part, on whether at least eighty percent (by value) of the Company's assets have been used in the active conduct of one or
more qualified trades or businesses. For this purpose, assets held as "working capital" of a qualified trade or business within the meaning of Section 1202(e)(6) of the Code are treated as used
in the active conduct of such trade or business. The term "working capital" set forth in Section 1202(e)(6) of the Code is not clearly defined in all respects. For purposes of the
representations made in this Certificate, the Company has made a good faith effort to apply the definition of working capital set forth in Section 1202(e)(6) of the Code, but cannot guarantee
that the Internal Revenue Service will not successfully assert a contrary definition. 


        4.     Qualification
of the Stock as QSBS is based, in part, on whether the Company purchased any of its stock from a person related to the Stockholder during a relevant testing
period. For purposes of the representations made in this Certificate, the Company has made a good faith determination that such purchases did not occur, but cannot guarantee that the Internal Revenue
Service will not successfully assert that such determination is incorrect. 


29







 

        5.     While
the representations contained herein are made in good faith, the Company assumes no liability for the failure of the Stock to qualify as QSBS. 


        IN
WITNESS WHEREOF, the Company has executed this Certificate as of the date first above written. 



	 	 	BY:	 	

	
 	
 	

TITLE:	
 	






30







 
 
 

SCHEDULE A    
    



	Class/Type of Stock
	 	Certificate Number
	 	Number of Shares
	 	Issue Date

	
 	
 	

 	
 	

 	
 	

 




31











QuickLinks



Exhibit 4.04


AMENDMENT AGREEMENT TO THE FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT



OMNEON VIDEO NETWORKS, INC.

RECITALS


FOURTH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

RECITALS

SECTION 1.

Restrictions on Transferability; Registration Rights

SECTION 2.

Right of First Offer

SECTION 3.

Affirmative Covenants of the Company

SECTION 4.

Miscellaneous


SCHEDULE A