Document:

exv10w25

 

Exhibit 10.25

[Eagle Test Systems, Inc. Letterhead]

September 30, 2003

[Name of Investor]

c/o TA Associates, Inc.

High Street Tower

Suite 2500

Boston, MA 02110

Attention: Michael C. Child and Jameson J. McJunkin

Ladies and Gentlemen:

     This letter is being issued in connection with the acquisition by [name of Investor] (the
“Fund”) of [shares of Series A Convertible Preferred Stock, par value $.01 per share,][Senior
Subordinated Secured Convertible Notes] of Eagle Test Systems, Inc. (the “Company”) [and Senior
Subordinated Secured Convertible Notes of the Company]. The Fund desires actively to assist the
Company in developing, reviewing and considering certain proposals and suggestions relating to the
management of the Company’s business and the Company desires such assistance. In order to
facilitate the Fund’s input with respect to the management of the business of the Company, the
Company agrees to grant to the Fund the management rights described below and further agrees that
it will give due consideration to such input as may be provided by the Fund in exercise of such
rights:

     (a) the right to discuss, and provide advice with respect to, the business operations,
properties and financial and other conditions of the Company with the Company’s officers,
employees and directors and the right to consult with and advise the Company’s senior
management on matters materially affecting the business and affairs of the Company;

     (b) the right to submit business proposals or suggestions to the Company’s senior
management from time to time with the requirement that one or more members of the Company’s
senior management discuss such proposals or suggestions with the Fund within a reasonable
period after such submission and the right to call a meeting with the Company’s senior
management in order to discuss such proposals or suggestions; and

     (c) the right (i) to visit the Company’s business premises and other properties during
normal business hours, (ii) to receive financial statements, operating reports, budgets or
other financial reports of the Company on a regular basis describing the Company’s financial
performance, significant proposals and other material aspects of the Company’s business and
operations, (iii) to examine the books and records of the Company and (iv) to request such
other information at reasonable times and intervals in light of the Company’s normal
business operations concerning the general status of the Company’s business,

 

 

financial condition and operations but only to the extent such information is
reasonably available to the Company and in a format consistent with how the Company
maintains such information.

     The Fund agrees that except as may be required by law, rule, regulation, legal process or
regulatory authority, any non-public information received from the Company hereunder (the
“Information”) will be treated as confidential and will not be disclosed by the Fund or made
available to any third party (other than any of the Fund’s partners, employees, advisers,
attorneys, accountants or agents that the Fund reasonably believes has a need to know such
information and that agrees to be bound by the confidentiality provisions set forth herein) without
the Company’s prior written approval and without safeguards for protecting such information. The
Fund agrees that it shall use its reasonable efforts to maintain the confidence of all Information
disclosed to it pursuant to this letter agreement, except that the Fund may disclose any
Information (i) to any person with whom the Fund is discussing a potential sale of any securities,
provided that such person executes a confidentiality agreement substantially similar to this
paragraph in favor of the Company and (ii) to the extent that the Fund is requested or required (by
deposition, interrogatories, subpoena or otherwise) as part of an action, suit, proceeding or
investigation by or before any court or governmental authority; provided, that the Fund
shall use its best efforts to limit such disclosure to information it is advised by counsel that it
is legally required to disclose in connection with any such action, suit, proceeding, or
investigation. Notwithstanding the foregoing, “Information” excludes any of the foregoing that has
entered the public domain through no fault of the Fund, that an authorized executive officer of the
Company has authorized for public dissemination, that was known to or possessed by the Fund prior
to its discussion with the Company of the acquisition described in the first paragraph of this
letter agreement and other than through disclosure or delivery by the Company, or that was learned
or obtained by the Fund from sources having no duty of confidentiality to the Company. The Fund
may decline to receive Information by providing written notice to the Company.

     Please acknowledge your agreement by signing below and returning the executed letter via
facsimile and regular mail to the address listed above.

     Thank you for your consideration.

	 	 	 	 	 
	 	Very truly yours,

Eagle Test Systems, Inc.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

2

 

Acknowledged and Agreed:

	 	 	 	 	 
	 	[Name of Investor]

 	 
	 	By:  	 	 
	 	 	Name:  	Michael C. Child 	 
	 	 	Its:  Managing Director 	 
	 

[Signature Page to Management Rights Letter]exv10w26

 

Exhibit 10.26

AMENDMENT NO. 1 TO MANAGEMENT RIGHTS LETTER AGREEMENTS

     This Amendment No. 1 to the Management Rights Letter Agreements, dated as of February 6, 2006
(this “Amendment”), hereby amends those certain Management Rights Letter Agreements, dated
as of September 30, 2003 (collectively, the “Management Rights Agreements”), by and among
Eagle Test Systems, Inc., an Illinois corporation (the “Company”) and each of the Investors
named herein (collectively, the “Investors”).

W I T N E S S E T H:

     WHEREAS, the Company has filed with the Securities and Exchange Commission a Registration
Statement on Form S-1 in connection with its anticipated initial public offering.

     WHEREAS, the parties hereto desire to amend the Management Rights Agreements.

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

     1. Each of the Management Rights Agreements is hereby amended by adding the following
paragraph immediately after the second paragraph:

     “This letter shall terminate upon the closing of the Company’s initial public offering.”

     2. Ratification of Agreement. Each of the Management Rights Agreements, as amended by
this Amendment, is hereby ratified, approved and confirmed in each and every respect. Except as
specifically amended or modified herein, each of the Management Rights Agreements shall continue in
full force and effect in accordance with the terms thereof.

     3. Counterparts. This Amendment may be executed by one or more of the parties to this
Amendment on any number of separate counterparts and all of said counterparts taken together shall
be deemed to constitute one and the same instrument.

[Remainder of page intentionally left blank]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed or caused this Amendment to be executed
as of the date set forth above.

	 	 	 	 	 
	 	THE COMPANY:

EAGLE TEST SYSTEMS, INC.

 	 
	 	By:  	/s/ Theodore Foxman
 	 
	 	 	Name:  	Theodore Foxman 	 
	 	 	Title:  	Chief Operating Officer and
Executive Vice President 	 
	 

	 	 	 	 	 
	 	Acknowledged and Agreed:

INVESTORS:

TA IX L.P.

By: TA Associates IX LLC, its General Partner

By: TA Associates, Inc., its Manager

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	TA/ATLANTIC AND PACIFIC IV L.P.

By: TA Associates AP IV L.P., its General Partner

By: TA Associates, Inc., its General Partner

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

 

 

	 	 	 	 	 
	 	TA STRATEGIC PARTNERS FUND A L.P.

By: TA Associates SPF L.P., its General Partner

By: TA Associates, Inc., its General Partner

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	TA STRATEGIC PARTNERS FUND B L.P.

By: TA Associates SPF L.P., its General Partner

By: TA Associates, Inc., its General Partner

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	TA INVESTORS LLC

By: TA Associates, Inc., its Manager

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

 

 

	 	 	 	 	 
	 	TA SUBORDINATED DEBT FUND, L.P.

By: TA Associates SDF LLC., its General Partner

By: TA Associates, Inc., its Manager

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officerexv10w27

 

Exhibit 10.27

AMENDMENT NO. 1 TO STOCKHOLDERS AGREEMENT

     This Amendment No. 1 to the Stockholders Agreement, dated as of February 6, 2006 (this
“Amendment”), hereby amends that certain Stockholders Agreement, dated as of September 30,
2003 (the “Stockholders Agreement”), by and among Eagle Test Systems, Inc., an Illinois
corporation (the “Company”), the Existing Shareholders named therein and the Investors
named therein. Capitalized terms used and not defined herein shall have the respective meanings
ascribed to them in the Stockholders Agreement.

W I T N E S S E T H:

     WHEREAS, the parties hereto desire to amend the Stockholders Agreement.

     WHEREAS, the Stockholders Agreement may be amended pursuant to the written consent of the
Company and a Majority Interest of the Investors.

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

     1. Section 7.12(a) of the Stockholders Agreement is hereby amended by deleting the words
“diminution in value,” in the first sentence thereof.

     2. Ratification of Agreement. The Stockholders Agreement, as amended by this
Amendment, is hereby ratified, approved and confirmed in each and every respect. Except as
specifically amended or modified herein, the Stockholders Agreement shall continue in full force
and effect in accordance with the terms thereof.

     3. Counterparts. This Amendment may be executed by one or more of the parties to this
Amendment on any number of separate counterparts and all of said counterparts taken together shall
be deemed to constitute one and the same instrument.

[Remainder of page intentionally left blank]

 

 

     IN WITNESS WHEREOF, the parties hereto have executed or caused this Amendment to be executed
as of the date set forth above.

	 	 	 	 	 
	 	THE COMPANY:

EAGLE TEST SYSTEMS, INC.

 	 
	 	By:  	     /s/ Theodore Foxman
 	 
	 	 	Name:  	Theodore Foxman 	 
	 	 	Title:  	Chief Operating Officer and
Executive Vice President 	 
	 

	 	 	 	 	 
	 	INVESTORS:

TA IX L.P.

By: TA Associates IX LLC, its General Partner

By: TA Associates, Inc., its Manager

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	TA/ATLANTIC AND PACIFIC IV L.P.

By: TA Associates AP IV L.P., its General Partner

By: TA Associates, Inc., its General Partner

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

 

 

	 	 	 	 	 
	 	TA STRATEGIC PARTNERS FUND A L.P.

By: TA Associates SPF L.P., its General Partner

By: TA Associates, Inc., its General Partner

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	TA STRATEGIC PARTNERS FUND B L.P.

By: TA Associates SPF L.P., its General Partner

By: TA Associates, Inc., its General Partner

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

	 	 	 	 	 
	 	TA INVESTORS LLC

By: TA Associates, Inc., its Manager

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer 	 
	 

 

 

	 	 	 	 	 
	 	TA SUBORDINATED DEBT FUND, L.P.

By: TA Associates SDF LLC., its General Partner

By: TA Associates, Inc., its Manager

 	 
	 	By:  	     /s/ Thomas P. Alber
 	 
	 	 	Name:  	Thomas P. Alber 	 
	 	 	Its:  	Chief Financial Officer

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