Document:

Exhibit 4.1.2

 

AMENDMENT NO. 1 TO

FOURTH AMENDED AND RESTATED
STOCKHOLDERS AGREEMENT

 

This Amendment No. 1
(the “Amendment”) to the Fourth Amended and Restated Stockholders Agreement
(the “Agreement”), dated as of June 27, 2002, by and among Eschelon Telecom, Inc.,
a Delaware corporation (the “Company”), certain holders of the Company’s Series A
Preferred Stock, par value $0.01 per share, certain holders of the Company’s
common stock, par value $0.01 per share, and certain individuals identified on
the schedule of minority stockholders attached to the Agreement, is made
as of December 23, 2004, and amends the Agreement, pursuant to Section 12.2
of the Agreement, to the extent expressly set forth herein.  All capitalized terms not otherwise defined
herein shall have the meanings ascribed thereto in the Agreement.

 

1.             A
new Section 16 shall be added to the Agreement and shall state as follows:

 

The
holders of the Company’s Series B Preferred Stock, par value $0.01 per
share (the “Series B
Preferred Stock”), identified on the Schedule of Series B
Holders attached hereto and such other holders of Series B Preferred
Stock who from time to time become a party hereto by executing a counterpart
signature page (each, a “Series B Holder” and together the “Series B Holders”),
with each Series B Holder’s respective number of shares of Series B
Preferred Stock (“Series B
Shares”) listed thereon, shall be deemed parties to this
Agreement and shall have the same rights and obligations as Series A
Holders with respect to Section 3 (“Tag Along” and “Drag Along” Rights), Section 4
(Transfer Rights), Section 6 (Preemptive Rights), Section 7
(Registration Rights), Section 9 (Certain Issuances and Transfers, Etc.), Section 10
(Remedies) and Section 11 (Legends) of the Agreement as if their Series B
Shares were Series A Shares.  For
the purposes of the Agreement, the Series B Shares shall be considered
Shares and shall vote with the Series A Shares in order to determine
actions taken by the Majority Series A Holders, with each Series A
Share and each Series B Share carrying the right to cast one vote.

 

2.             This
Amendment will become effective simultaneously with the “Closing” as that term
is defined in the Series B Preferred Stock Purchase Agreement, dated as of
December 23, 2004, by and among the Company and each of the persons listed
on the schedule of purchasers attached thereto.

 

3.             Except
as modified or supplemented by this Amendment, each of the terms of the
Agreement remain unmodified and in full force and effect.

 

 

IN
WITNESS WHEREOF, each of the undersigned has duly executed this Amendment as of
the date first above written.

 

	
   

  	
  BAIN
  CAPITAL FUND VI, L.P.

  
	
   

  	
  By:

  	
    Bain Capital Partners VI, L.P., its general
  partner

  
	
   

  	
  By:

  	
    Bain Capital Investors , LLC, its general
  partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Ian Loring

  
	
   

  	
   

  	
  Name:

  	
  Ian Loring

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BCIP
  ASSOCIATES II

  
	
   

  	
  BCIP
  ASSOCIATES II-B

  
	
   

  	
  BCIP
  ASSOCIATES II-C

  
	
   

  	
  By:

  	
    Bain Capital Investors, LLC, their managing
  partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Ian Loring

  
	
   

  	
   

  	
  Name:

  	
  Ian Loring

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  

 

 

 

	
   

  	
  PEP
  INVESTMENTS PTY. LIMITED

  
	
   

  	
  By:

  	
    Bain Capital Investors, LLC, its
  attorney-in-fact

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Ian Loring

  
	
   

  	
   

  	
  Name:

  	
  Ian Loring

  
	
   

  	
   

  	
  Title:

  	
  Managing
  Director

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  RGIP,
  LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
    /s/ R. Bradford Malt

  
	
   

  	
  Name:

  	
  R. Bradford Malt

  
	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  RANDOLPH
  STREET PARTNERS IV

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
    /s/ Matthew Sternmetz

  
	
   

  	
  Name:

  	
  Matthew
  Sternmetz

  
	
   

  	
  Title:

  	
  Partner

  
					

 

 

	
   

  	
  WIND
  POINT PARTNERS IV, L.P.

  
	
   

  	
  By:

  	
    Wind Point Investor IV, L.P., as General
  Partner

  
	
   

  	
  By:

  	
    Wind Point Advisor, L.L.C., as General
  partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ James P. TenBroeck

  
	
   

  	
   

  	
  Name:

  	
  James P.
  TenBroeck

  
	
   

  	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ James E. Forrest

  
	
   

  	
   

  	
  Name:

  	
  James E. Forrest

  
	
   

  	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WIND
  POINT IV EXECUTIVE ADVISOR

  PARTNERS, L.P.

  
	
   

  	
  By:

  	
    Wind Point Investor IV, L.P., as General
  Partner

  
	
   

  	
  By:

  	
    Wind Point Advisor, L.L.C., as General
  partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ James P. TenBroeck

  
	
   

  	
   

  	
  Name:

  	
  James P.
  TenBroeck

  
	
   

  	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ James E. Forrest

  
	
   

  	
   

  	
  Name:

  	
  James E. Forrest

  
	
   

  	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  WIND
  POINT ASSOCIATES IV, L.L.C.

  
	
   

  	
  By:

  	
    Wind Point Investor IV, L.P., as General
  Partner

  
	
   

  	
  By:

  	
    Wind Point Advisor, L.L.C., as General
  partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ James P. TenBroeck

  
	
   

  	
   

  	
  Name:

  	
  James P.
  TenBroeck

  
	
   

  	
   

  	
  Title:

  	
  Managing Member

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ James E. Forrest

  
	
   

  	
   

  	
  Name:

  	
  James E. Forrest

  
	
   

  	
   

  	
  Title:

  	
  Managing Member

  

 

 

	
   

  	
  STOLBERG,
  MEEHAN & SCANO II, L.P.

  
	
   

  	
  By:

  	
    Stolberg, Meehan & Scano, L.L.C.,
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Peter VanGenderen

  
	
   

  	
   

  	
  Name:

  	
  Peter
  VanGenderen

  
	
   

  	
   

  	
  Title:

  	
  Authorized
  Representative

  
	
   

  	
   

  	
   

  
	
   

  	
  SMS
  II-A, L.P.

  
	
   

  	
  By:

  	
    Stolberg, Meehan & Scano, L.L.C.,
  General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Peter VanGenderen

  
	
   

  	
   

  	
  Name:

  	
  Peter
  VanGenderen

  
	
   

  	
   

  	
  Title:

  	
  Authorized
  Representative

  

 

 

 

	
   

  	
  YALE
  UNIVERSITY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  David F. Swensen

  
	
   

  	
   

  	
  Name:

  	
  David F. Swensen

  
	
   

  	
   

  	
  Title:

  	
  Chief Investment
  Officer

  

 

 

	
   

  	
  ESCHELON
  TELECOM, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
    /s/
  Richard A. Smith

  
	
   

  	
   

  	
  Name:

  	
  Richard A. Smith

  
	
   

  	
   

  	
  Title:

  	
  President &
  CEO

  

 

 

SCHEDULE OF SERIES B HOLDERS

 

	
  Names and Addresses

  	
   

  	
  No. of Shares of

  Series B Preferred Stock

  	
   

  
	
  Bain Capital Fund VI,
  L.P.

  	
   

  	
  7,634,294.6667

  	
   

  
	
  111 Huntington Avenue

  	
   

  	
   

  	
   

  
	
  Boston, MA 02199

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BCIP Associates II

  	
   

  	
  1,231,036.0000

  	
   

  
	
  111 Huntington Avenue

  	
   

  	
   

  	
   

  
	
  Boston, MA 02199

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BCIP Associates II-B

  	
   

  	
  337,294.6667

  	
   

  
	
  111 Huntington Avenue

  	
   

  	
   

  	
   

  
	
  Boston, MA 02199

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BCIP Associates II-C

  	
   

  	
  396,609.3333

  	
   

  
	
  111 Huntington Avenue

  	
   

  	
   

  	
   

  
	
  Boston, MA 02199

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  RGIP, LLC

  	
   

  	
  98,210.6667

  	
   

  
	
  111 Huntington Avenue

  	
   

  	
   

  	
   

  
	
  Boston, MA 02199

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Randolph Street
  Partners IV

  	
   

  	
  98,210.6667

  	
   

  
	
  200 East Randolph Drive

  	
   

  	
   

  	
   

  
	
  Chicago, IL 60601

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  PEP Investments PTY
  Ltd.

  	
   

  	
  25,448.0000

  	
   

  
	
  111 Huntington Avenue

  	
   

  	
   

  	
   

  
	
  Boston, MA 02199

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Wind Point Partners IV,
  L.P.

  	
   

  	
  7,832,947.7067

  	
   

  
	
  One Town Square

  	
   

  	
   

  	
   

  
	
  Suite 780

  	
   

  	
   

  	
   

  
	
  Southfield, MI 48076

  	
   

  	
   

  	
   

  
	
  Attn: Jim TenBroek

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Wind Point IV Executive
  Advisor Partners, L.P.

  	
   

  	
  58,857.3600

  	
   

  
	
  One Town Square

  	
   

  	
   

  	
   

  
	
  Suite 780

  	
   

  	
   

  	
   

  
	
  Southfield, MI 48076

  	
   

  	
   

  	
   

  
	
  Attn: Jim TenBroek

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Wind Point Associates
  IV, L.L.C.

  	
   

  	
  29,010.9333

  	
   

  
	
  One Town Square

  	
   

  	
   

  	
   

  
	
  Suite 780

  	
   

  	
   

  	
   

  
	
  Southfield, MI 48076

  	
   

  	
   

  	
   

  
	
  Attn: Jim TenBroek

  	
   

  	
   

  	
   

  

 

 

	
  Stolberg,
  Meehan & Scano II, L.P.

  	
   

  	
  300,000.0000

  	
   

  
	
  370 17th
  Street

  	
   

  	
   

  	
   

  
	
  Suite 3650

  	
   

  	
   

  	
   

  
	
  Denver, CO 80202

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  SMS II-A, L.P.

  	
   

  	
  900,000.0000

  	
   

  
	
  370 17th
  Street

  	
   

  	
   

  	
   

  
	
  Suite 3650

  	
   

  	
   

  	
   

  
	
  Denver, CO 80202

  	
   

  	
   

  	
   

  
	
  Attn:

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Yale University

  	
   

  	
  1,058,080.0000

  	
   

  
	
  Yale Investments Office

  	
   

  	
   

  	
   

  
	
  230 Prospect Street

  	
   

  	
   

  	
   

  
	
  New Haven, CT 06511

  	
   

  	
   

  	
   

  
	
  Attn: David SwensenExhibit 4.18

 

REDEMPTION AGREEMENT

 

THIS REDEMPTION AGREEMENT is made and entered into as of October 13, 2004 by and between NTFC
Capital Corporation, a Delaware corporation (the “Stockholder”)
and Eschelon Telecom, Inc. (the “Company”).

 

WHEREAS, the Stockholder,
the record and beneficial owner of 6,780,541 shares of the Company’s Series A
Preferred Stock, par value $0.01 per share (the “Shares”),
desires to sell to the Company, and the Company desires to purchase, the Shares
on the terms and conditions set forth hereinbelow;

 

WHEREAS, the
Company and an affiliate of the Stockholder have, concurrently with the
execution and delivery hereof, entered into a Stock Purchase Agreement pursuant
to which the Company is acquiring all of the issued and outstanding capital
stock of an affiliate of the Stockholder (the “Stock
Purchase Agreement”).

 

NOW, THEREFORE,
in consideration of the premises and the mutual covenants, representation and
warranties contained herein, and for other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the Stockholder and
the Company hereby agree as follows:

 

1.             The purchase price for the Shares is
$5,085,405.75 (the “Purchase Price”), which
amount shall be delivered by the Company to the Stockholder in immediately
available funds at the closing of the transactions contemplated herein which
shall occur concurrent with the closing of the transactions described in the
Stock Purchase Agreement (the “Closing”).

 

2.             At the Closing, the Stockholder agrees to sell,
convey, transfer, assign and deliver to the Company the Shares against the
Company’s payment to the Seller of the Purchase Price in immediately available
funds.  At the Closing, Seller shall
deliver stock certificates representing the Shares, duly endorsed to the
Company or accompanied by stock powers duly executed in blank or other duly
executed instruments of transfer, and any other documents that are reasonably
necessary to transfer to the Company good and marketable title to the Shares,
free and clear of any and all Security Interests (as defined below).

 

3.             The Stockholder represents and warrants to the
Company that it is the record and beneficial owner of the Shares, free and
clear of any and all Security Interests (as defined below) and, at Closing, the
Seller will transfer to the Company good and valid title to the Shares, free
and clear of any and all Security Interests. 
As used herein, the term “Security Interests”
shall mean any mortgage, pledge, security interest, encumbrance, charge, lien,
security interest, right of first refusal, option or other right to acquire,
transfer for security, claim, easement, conditional sale agreement, title
retention agreement, defect in title, or other interest, encumbrance or adverse
claim of any nature in respect of the Shares, whether voluntary or involuntary
and whether arising by contract, operation of law or otherwise.

 

 

4.             Each of the Stockholder and the Company has full
legal power, authority and capacity to execute, deliver and perform this Agreement.  This Agreement has been duly and validly
executed and delivered by each of the Stockholder and the Company and
constitutes a valid and binding obligation enforceable by and against each of
them in accordance with its terms.

 

5.             The Stockholder has had the opportunity to ask
questions of, and receive answers from, officers of the Company with respect to
the business and financial condition of the Company and to obtain information
necessary to verify such information. 
The Stockholder has conducted an independent evaluation and made an
independent analysis as the Stockholder deems necessary, prudent or advisable
in order to make the determination and decision to enter into this Agreement,
sell the Shares hereunder and consummate the transactions contemplated hereby.

 

6.             If, at any time after the Closing, any further
action is necessary or desirable to carry out the purposes of this Agreement
and to vest the Company with full right, title and possession to the Shares,
the Seller agrees to take, and will take, all such lawful and necessary action
required to so do.

 

7.             This agreement shall automatically terminate upon
termination of the Stock Purchase Agreement.

 

 

[signatures on next page]

 

 

IN WITNESS WHEREOF, the undersigned have executed and delivered this
Redemption Agreement as of the date first written above.

 

	
   

  	
  NTFC CAPITAL CORPORATION

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Stephen Hacela

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
    Stephen
  Hacela

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title:

  	
    President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  ESCHELON TELECOM, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ Richard A. Smith

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
    Richard A. Smith

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Title: 

  	
    President and CEO

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