Document:

exv10w1

Exhibit 10.1

PLEASE READ CAREFULLY AS THIS DOCUMENT INCLUDES

A GENERAL RELEASE OF ALL KNOWN AND UNKNOWN CLAIMS

YOU ARE ADVISED TO CONSULT WITH

AN ATTORNEY, TAX CONSULTANT AND FINANCIAL ADVISOR.

IF YOU HAVE ANY PENDING WORKERS’ COMPENSATION CLAIM(S) AGAINST

RYDER, AS DEFINED HEREIN, YOU SHOULD CONSULT A

WORKERS’ COMPENSATION ATTORNEY.

SEPARATION AGREEMENT AND RELEASE

     THIS SEPARATION AGREEMENT AND RELEASE (“Agreement and Release”), dated as of August 23, 2010
is between RYDER TRUCK RENTAL, INC. (the “Company”), and Anthony G. Tegnelia (“Employee”).

WITNESSETH:

     WHEREAS, Employee is currently employed by the Company in a managerial capacity and currently
serves as President, Global Fleet Management Solutions; and

     WHEREAS, the Employee will step down as President, Global Fleet Management Solutions,
effective September 1, 2010, and remain as an employee of the Company for a period that shall last
up to six (6) months during which time Employee will be assigned to work with the Chief Executive
Officer (“CEO”) and be responsible for valuation and execution of acquisition and other strategic
expansion opportunities in the Global Fleet Management Solutions business segment, shall represent
RYDER (as defined in Paragraph 16 hereof) within the industry associations in evaluating pending
regulatory developments affecting the industry and shall undertake such other projects as the CEO
may request until the earlier of the completion of such projects or March 1, 2011;

     NOW, THEREFORE, in consideration of the following terms, covenants and conditions, the Company
and Employee agree as follows:

     1. Term; Special Assignment. (a) The Company and Employee agree that the Amended and
Restated Severance Agreement executed on December 19, 2008 which provides severance benefits to
Employee in the event of Employee’s termination under specified circumstances (the “Agreement”) is
hereby terminated as of the date of this Agreement and Release. Neither the Company nor Employee
shall have any further obligations under the Agreement. The parties hereby agree that Employee
will cease to serve as President, Global Fleet Management Solutions, effective September 1, 2010.

     (b) For a period of up to six months commencing on September 1, 2010 and terminating on the
earlier of March 1, 2011 or such earlier date that the CEO advises Employee that his services as
set forth in this paragraph (b) below are no longer required (“Last Day Worked”), Employee will be
an “at will” employee of the Company (the “Special Assignment Period”). During the Special
Assignment Period, Employee will (1) be responsible for the valuation and execution of acquisition
and other strategic expansion opportunities in the Global Fleet Management Solutions business

 

 

segment, (2) represent RYDER within the industry associations in evaluating pending regulatory
developments affecting the industry, (3) provide all transitional support requested by the CEO and
(4) work on such other projects as the CEO may request. Employee will devote all his skills,
knowledge, commercial efforts and business time to the conscientious and good faith performance of
his duties and obligations during the Special Assignment Period. Employee acknowledges that he
will be an “at will” employee during the Special Assignment Period and that he may be terminated at
any time prior to March 1, 2011 if the CEO decides, in his sole discretion, that the Employee’s
services are no longer required. Employee acknowledges that upon termination of the Special
Assignment Period, Employee will only be entitled to those benefits set forth in this Agreement and
Release and that he will have no additional rights pursuant to any other severance program, policy.

     2. Salary During Special Assignment Period; Severance Payments. During the Special
Assignment Period, the Employee will continue to be paid a base salary equal to his base salary on
the date of this Agreement and Release. After termination of the Special Assignment Period, the
Company shall continue Employee’s current salary payments as severance pay on the fifteenth and
last day of each month for an eighteen (18) month period beginning on the day following the Last
Day Worked (the “Severance Period”), unless terminated sooner pursuant to Paragraph 27; provided
however, that except for Employee’s vacation entitlement, no severance payments pursuant to this
Paragraph or incentive compensation (discussed below in Paragraph 12) will be made under this
Agreement and Release unless Employee executes a Post-Termination Release, in the form attached
hereto, on the date immediately following the Last Worked Day and until the end of the Revocation
Period, as defined in Paragraph 34 hereof (“Effective Date”).

     Notwithstanding the foregoing, in the event Employee obtains another position with the Company
or any of its subsidiaries, affiliates, successors or assigns, during the Severance Period,
regardless of whether such position is on a temporary, part-time, full-time, or consulting basis,
Employee understands and agrees that all severance payments will cease immediately and that all of
the Company’s liabilities and obligations hereunder shall terminate, except as provided in
Paragraph 28.

     Employee is not waiving any rights to recover under any workers’ compensation claim(s)
currently active and not resolved as of the Last Day Worked. Employee is, however, waiving any
right that he/she may have to bring forth a charge, claim, lawsuit against RYDER and/or recover for
a workers’ compensation retaliation cause of action from RYDER, unless otherwise prohibited by law
to waive such right.

     3. Vacation Entitlement. Upon the Last Day Worked, Employee will receive an amount
equal to his vacation day entitlement for the calendar year in which the Last Day Worked occurs
minus a pro rata adjustment for any vacation days taken during such calendar year. Further,
Employee acknowledges and agrees that no other compensation, vacation pay, or any other money is or
will be owed to Employee by the Company, other than salary accruing from September 1, 2010 though
the Last Day Worked.

     4. Medical, Prescription, Dental, and Vision Benefits. Immediately subsequent to the
Employee’s Last Day Worked, the Company will provide Employee the Company’s health care program
benefits in accordance with the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended,
(“COBRA”) and the terms of the Company’s health care program, as it may be

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amended from time to time.

     If Employee elects such coverage, Employee shall pay a contribution, which shall be a pre-tax
contribution to the extent permitted by law, for such coverage at the then current employee
contribution rates and the Company shall pay the balance of the COBRA premiums until the first to
occur of (i) the last day of the Severance Period, (ii) the date Employee ceases the required
employee contributions, or (iii) the date Employee becomes eligible for medical, prescription,
vision, and/or dental benefits as an employee of another employer. Thereafter, if Employee is
eligible and wishes to continue Employee’s COBRA coverage, Employee shall be solely responsible for
payment of the entire COBRA premium. The benefit continuation coverage paid by the Company shall
be considered part of the Employee’s COBRA coverage period. Therefore, the Employee’s COBRA
continuation period following his benefit continuation period shall last for less than 18 months.

     5. Executive Life Insurance. Company agrees to continue Employee’s eligibility to
participate in the Company-sponsored executive life insurance program, as may be in effect from
time to time, until Employee’s Last Day Worked and commencing on the later to occur of (i) the Last
Day Worked or (ii) the Effective Date to continue to pay for Employee’s coverage in such program
until the end of the Severance Period. At the end of the Severance Period, the Employee will have
thirty-one (31) days from the last day of the Severance Period to convert his life insurance
coverage to an individual policy.

     6. Supplemental Long-term Disability Insurance. Company agrees to continue Employee’s
eligibility to participate in the Company-sponsored supplemental long-term disability insurance
program, as may be in effect from time to time, until Employee’s Last Day Worked and commencing on
the later to occur of (i) the Last Day Worked or (ii) the Effective Date to continue to pay for
Employee’s coverage in such program until the end of the Severance Period. At the end of the
Severance Period, the Employee shall be entitled to keep such policy if Employee continues to pay
the annual premiums.

     7. Business Travel Accident Insurance. Coverage under the Company’s Business Travel
Accident Insurance Plan will cease as of the Last Day Worked.

     8. Retirement Plan. Employee will continue to participate in the Company’s retirement
plan in accordance with the terms of such plan as amended from time to time. Employee has met the
vesting requirements of the Company’s retirement plan and is eligible to receive retirement
benefits in accordance with plan provisions.

     9. Health Care and Dependent Day Care Reimbursement Accounts.

     (a) Health Care Reimbursement Account. If Employee is a participant in a Health Care
Reimbursement Account as of the Last Day Worked, Employee’s participation will continue in
accordance with COBRA and the terms of the Health Care Reimbursement Account, as it may be amended
from time to time.

     (b) Dependent Day Care Reimbursement Account. If Employee is a participant in a
Dependent Day Care Reimbursement Account as of the Last Day Worked, Employee may continue to
participate until the last day of the month in which the Employee worked as an active employee.

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     (c) Claims. Claims in connection with the Health Care or Dependent Day Care
Reimbursement Accounts must be filed in accordance with those plans’ provisions. Any questions
regarding continued participation in such accounts should be directed to the Ryder BenefitsNow
Service Center at 800-280-2999.

     10. Employee Savings Plan. After the Last Day Worked, Employee will not be entitled
to defer severance pay to the Company’s Savings Plan. If the value of Employee’s account is
greater than $5,000, Employee’s account will be maintained in the Ryder System, Inc. Employee
Savings Plan unless and until the Employee requests a distribution from the Plan or a distribution
is otherwise required by plan provisions or law. Employee should direct any questions regarding
the Ryder System, Inc. Employee Savings Plan to the Ryder BenefitsNow Service Center at
800-280-2999.

     11. Stock or Equity Plans. The Company shall provide Employee with any benefits or
rights to which Employee is entitled under any of the Company’s stock or equity plans in accordance
with the terms and conditions of those plans.

     12. Incentive Compensation. Upon execution of the Post-Termination Release, Employee
shall be eligible to receive a gross lump sum bonus payment in the amount of Five Hundred Ninety
Thousand Six Hundred Twenty-five Dollars ($590,625.00) as soon as administratively possible
following the Effective Date. In addition, to the extent that Employee has satisfactorily
performed his duties and obligations under Section 1(b) during the Special Assignment Period and is
therefore employed on January 1, 2011, Employee shall also be entitled to receive those amounts
payable to the Employee pursuant to the 2010 annual incentive cash awards granted by Ryder System,
Inc. under the Ryder System, Inc. 2005 Equity Compensation Plan for the January 1, 2010 through
June 30, 2010 period and the July 1, 2010 through December 31, 2010 period on the Payment Date (as
defined in the relevant Award Documents).

     Except as set forth above, Employee shall not be eligible to receive any other bonus payments
for the year in which the termination takes place nor for any subsequent years thereafter and
hereby waives any and all claims thereto.

     13. Prior Arrangements. The Company and Employee agree that, as of the date of this
Agreement and Release, all prior employment, separation, severance, termination, change of control,
or similar agreements, arrangements, or plans whether oral or written covering the Employee are
terminated and superseded and any notice periods with respect to such terminations are deemed
satisfied or explicitly waived, except that the following Sections of the Amended and Restated
Severance Agreement, dated as of December 18, 2008, by and between the Company and Employee (“the
December 2008 Severance Agreement”) and those related definitions contained therein shall continue
to be in full force and effect: (1) those provisions set forth in Section 5(c)(ii) shall apply
during the Severance Period, each party hereby acknowledging that for purposes of such Section,
Employee’s separation will be treated as an “Involuntary Termination without Cause not due to a
Change of Control” and (2) those provisions set forth in Sections 5(e), 5(f), 7, 10, 11, 14, and 15
of the December 2008 Severance Agreement shall apply to the extent that a Change of Control occurs
prior to the Last Day Worked and Employee shall have the right to receive those benefits set forth
in such Section 5(e), pursuant to the terms of the December 2008 Severance Agreement (including,
but not limited to, execution of the Release set forth in Section 5(f)(i) and

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agreement to be bound by those other obligations set forth in Sections 5(f), 7 and 10, in lieu
of those benefits set forth in Sections 2, 4, 5, 6, 8, 9 and 12 of this Agreement.

     14. Other Benefits. Any benefits not specifically stated in this Agreement and
Release to continue beyond the Last Day Worked shall cease on the Last Day Worked, unless provided
otherwise in the relevant plan or by law.

     15. Unemployment Compensation. Should Employee apply for unemployment benefits and
should the Company be requested to complete any documents in connection therewith, the Company
shall complete such necessary documents and will not contest Employee’s receipt of such benefits.

     16. Covenant of Confidentiality. For purposes of this Agreement and Release, “RYDER”
shall be defined to include Ryder System, Inc., Ryder Truck Rental, Inc., Ryder Integrated
Logistics, Inc., and all of their subsidiaries and affiliates, their present and former agents,
employees, officers, directors, successors, and assigns, either individually or collectively as the
case may be.

     (a) Employee agrees that Employee will forever keep confidential and not divulge to any other
party, except Employee’s counsel, tax advisers and/or spouse, the terms of this Agreement and
Release.

     (b) Employee acknowledges that RYDER possesses certain Confidential Information, which may
have been revealed to or learned by Employee during his employment with the Company. Employee
agrees that Employee will not directly or indirectly use, disclose or authorize disclosure of,
Confidential Information learned while employed by the Company, unless required by law.
Confidential Information includes any and all of RYDER’s trade and business secrets, including, but
not limited to, such matters as costs, profit and loss statements, financial data, markets, sales,
products, product lines, key personnel, pricing policies, operational methods, computer programs,
knowledge management programs, processes or services, bids and quotations, customer, vendor and
supplier lists, contracts with other parties, customer requirements, suppliers, plans for future
developments, and other business affairs, methods, or other information not readily available to
the public. Confidential Information shall not include information that has entered the public
domain through no fault of Employee or with the consent of RYDER.

     (c) Employee shall not divulge any information related to projects, services, products, or
market strategies in the truck leasing, dedicated contract carriage, maintenance, and supply-chain
logistics industry that RYDER was developing during Employee’s employment with RYDER and that
Employee became aware of during his employment.

     (d) Employee agrees that upon the Last Day Worked, Employee shall promptly return to the
Company all of the Company’s property, including but not limited to, any and all confidential and
proprietary information that is in Employee’s possession.

     (e) Employee shall continue to be bound by the provisions and terms of any other
confidentiality or proprietary agreement signed by Employee or any policy regarding confidential or
trade secrets that governed employees prior to the Last Day Worked except as otherwise mandated by
law.

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     17. Covenant of Non-Solicitation. During the eighteen (18) months following the
termination of Employee’s employment, Employee shall not directly or indirectly in any manner or
capacity whatsoever:

     (a) take away from RYDER, interfere with RYDER’s relations with, divert or attempt to divert
from RYDER, any business with any customer or account which was a customer on the Last Day Worked
which (i) has been solicited or serviced by RYDER within one (1) year prior to the Last Day Worked;
and (ii) with which the Employee had any contact or association, or which was under the supervision
of Employee, or the identity of which was learned by Employee as a result of Employee’s employment
with RYDER;

     (b) induce or cause any employee or independent contractor of RYDER to leave his/her
employment or refrain from providing services to RYDER; or

     (c) hire or cause to hire any employee of RYDER.

     18. Covenant of Non-Disparagement and Cooperation. The parties to this Agreement and
Release agree not to make any remarks disparaging the conduct or character of the other, including
but not limited to, their subsidiaries or affiliates, agents, employees, officers, directors,
successors or assigns except where required by law, subpoena, or release. In addition, Employee
agrees to cooperate with RYDER in any litigation or administrative proceedings (e.g., EEOC charges)
relating to any matters with which Employee was involved during Employee’s employment with the
Company. The Company shall reimburse Employee for reasonable travel expenses approved by the
Company incurred in providing such assistance.

     19. Covenant Against Competition. (a) During the eighteen (18) months following the
Last Day Worked, Employee shall not engage or become a partner, director, officer, principal, or
employee in the same or similar capacity as Employee worked for RYDER in/for any business,
proprietorship, association, firm or corporation not owned or controlled by RYDER that is engaged
or proposes to engage or hereafter engages in a business competitive with the business conducted by
RYDER in any geographic area where Employee worked in the previous twelve (12) month period, or
conducted business on RYDER’s behalf. Employee is not prohibited from owning one percent (1%) or
less of the outstanding capital stock of any corporation whose stock is listed on a national
securities exchange. For the duration of this covenant, Employee may only compete with RYDER with
the prior written consent of the Company’s CEO.

     (b) Employee and the Company have attempted to limit the Employee’s right to compete only to
the extent necessary to protect the Company’s legitimate business interests. Employee and the
Company recognize however, that reasonable people may differ in making such a determination.
Consequently, Employee and the Company agree that if the scope or enforceability of this Agreement
and Release is in any way disputed at any time, a court may modify and enforce this Agreement and
Release to the extent it believes to be reasonable under the circumstances.

     20. Specific Remedy. Employee acknowledges and agrees that if Employee commits a
material breach of the Covenant of Confidentiality (Paragraph 16), Covenant of Non-Solicitation
(Paragraph 17), Covenant of Non-Disparagement and Cooperation (Paragraph 18) or Covenant Against
Competition (Paragraph 19), the Company shall have the right to have the obligations of

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Employee specifically enforced by any court having appropriate jurisdiction on the grounds
that any such breach will cause irreparable injury to the Company, and that money damages will not
provide an adequate remedy to the Company (although the Company does not waive the right to
monetary damages). Employee further acknowledges and agrees that the obligations contained in
Paragraphs 16, 17, 18, and 19 of this Agreement and Release are fair, do not unreasonably restrict
Employee’s future employment and business opportunities, and are commensurate with the compensation
arrangements set out in this Agreement and Release.

     Additionally, in the event that Employee or RYDER commences an action for damages, injunctive
relief, or to enforce the provisions of this Agreement and Release, the prevailing party in any
such action shall be entitled to an award of its reasonable attorney’s fees and all costs,
including appellate fees and costs, incurred in connection therewith as determined by the court in
any such action. If Employee should be determined the prevailing party, the reasonable attorney’s
fees and costs referenced herein shall be subject to a maximum cost of Ten Thousand Dollars
($10,000.00).

     21. Applicable Law. This Agreement and Release shall be governed by and construed
according to the laws of the State of Florida, notwithstanding the conflict of laws principles
applied in that jurisdiction. Any suit, action, or proceeding relating to this Agreement and
Release shall be brought in the courts of the State of Florida, in the U.S. District Court for the
Southern District of Florida. Both parties hereby accept the exclusive jurisdiction of those
courts for the purpose of any such suit, action, or proceeding. Further, both parties hereby
irrevocably waive any right to a trial by jury in any action, suit or other legal proceeding
arising under or relating to any provision of this Agreement and Release.

     22. Withholding and Taxation. All payments under this Agreement and Release shall be
less applicable withholding taxes and other proper deductions consented to in writing by Employee
or required by applicable law or regulation. Additionally, the payments and benefits under this
Agreement and Release may result in imputed income to Employee and may be included in either
Employee’s W-2 earnings statements or 1099 statements.

     (a) Construction and Interpretation. This Agreement and Release shall be construed and
interpreted in a manner so as not to trigger adverse tax consequences under Section 409A of the
Internal Revenue Code of 1986, as amended, (the “Code”) and the rulings and regulations issued
thereunder. The Company may amend this Agreement and Release in any manner necessary to comply with
Code Section 409A or any successor law, without the consent of Employee. Furthermore, to the extent
necessary to comply with Code Section 409A, the payment terms for any of the payments or benefits
payable hereunder may be delayed without Employee’s consent to comply with Code Section 409A.

     (b) Separation From Service Requirements. The parties hereby agree that the separation
will be treated as an “involuntary termination” pursuant to Section 409A of the Code.
Notwithstanding anything herein to the contrary, Employee shall not be entitled to any payments or
benefits pursuant to this Agreement and Release in the event that his termination of employment
does not constitute a “separation from service” as defined by Section 409A of the Code and the
regulations issued thereunder. For purposes of determining whether a “separation from service”, as
defined by Section 409A of the Code, has occurred, pursuant to Treas. Reg. §1.409A-1(h)(3), the
Company has elected to use “at least 80 percent” each place it appears in Sections 1563(a)(1), (2),
and (3) of the Code and in Treas. Reg. §1.414(c)-2.

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     (c) Delayed Commencement of Benefits. If Employee is a Specified Employee at the time
of his Last Day Worked, and the deferral of the commencement of any payments or benefits otherwise
payable hereunder is necessary in order to prevent any accelerated or additional tax under Section
409A of the Code, then, to the extent permitted by Section 409A of the Code, the Company will defer
the commencement of the payment of any such payments or benefits hereunder until the first day
following the six-month anniversary of the Last Day Worked (or the earliest date as is permitted
under Section 409A of the Code). If any payments or benefits are deferred due to such
requirements, (whether they would have otherwise been payable in a single sum or in installments in
the absence of such deferral) they shall be paid or reimbursed to Employee in a lump sum on the
first day following the six-month anniversary of the Last Day Worked, and any remaining payments
and benefits due under this Agreement and Release shall be paid or provided in accordance with the
normal payment dates specified for them herein.

     (d) Payments and Reimbursements. Except as otherwise provided herein, any
reimbursements or in-kind benefits provided under this Agreement and Release shall be made or
provided in accordance with the requirements of Section 409A of the Code, including, where
applicable, the requirement that (i) any reimbursement is for expenses incurred during the period
of time specified in this Agreement and Release (or, if no such period is specified, Employee’s
lifetime), (ii) the amount of expenses eligible for reimbursement, or in kind benefits provided,
during a calendar year may not affect the expenses eligible for reimbursement, or in kind benefits
to be provided, in any other calendar year, (iii) the reimbursement of an eligible expense will be
made no later than the last day of the calendar year following the year in which the expense is
incurred, and (iv) the right to reimbursement or in kind benefits is not subject to liquidation or
exchange for another benefit. In addition, for purposes of the limitations on nonqualified
deferred compensation under Section 409A, each payment of compensation under this Agreement and
Release shall be treated as a separate payment of compensation for purposes of applying the Section
409A deferral election rules and the exclusion from Section 409A for certain short-term deferral
amounts and separation pay. Notwithstanding any other provision set forth herein, any payments
which are intended to constitute separation pay due to an involuntary separation from service in
accordance with Treas. Reg. §1.409A-1(b)(9)(iii) shall be paid no later than the last day of the
second calendar year following the calendar year in which the Last Day Worked occurs.

     (e) Company Entity. For purposes of this Agreement and Release, Company Entity means
any member of a controlled group of corporations or a group of trades or businesses under common
control of which the Company is a member; for purposes of this Section 15(e), a “controlled group
of corporations” means a controlled group of corporations as defined in Section 414(b) of the Code
and a “group of trades or businesses under common control” means a group of trades or businesses
under common control as defined in Section 414(c) of the Code, without any modifications.

     23. Assignment. This Agreement and Release is personal to Employee and Employee does
not have the right to assign this Agreement and Release or any interest herein. This Agreement and
Release shall be binding on and inure to the benefit of the successors and assigns of the Company.

     24. Severability. In the event that one or more terms or provisions of this Agreement
and Release are found to be invalid or unenforceable for any reason or to any extent, each

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remaining term and provision shall continue to be valid and effective and shall be enforceable
to the fullest extent permitted by law.

     25. Unsecured, Unfunded Obligations. The payments and benefits provided to Employee
pursuant to this Agreement and Release may be unsecured, unfunded obligations of the Company.

     26. Death of Employee. If Employee dies during the Severance Period, this Agreement
and Release will end at the conclusion of the month in which the death occurs and only the payment
owed by the Company to Employee in the month of death will be paid to the estate of Employee.
Death of the Employee during the Severance Period will cause the payment in Paragraph 5 to be made,
if applicable, pursuant to the terms and conditions of the Company’s group life insurance plan.

     27. Breach of the Agreement. Except as provided in Paragraph 29 (“Survival”), all of
the Company’s duties hereunder shall terminate on the date Employee commits a material breach of
the terms of this Agreement and Release. Nevertheless, nothing in this Paragraph shall limit the
Company’s right to seek enforcement of the covenants expressed in this Agreement and Release, in
the event of breach by Employee. Challenging any Age Discrimination in Employment Act (“ADEA”)
release/waiver portion of this Agreement and Release shall not constitute a breach of this
Agreement and Release.

     If the Company determines that Employee has had at any time during or after the commencement
of this Agreement and Release breached any of the provisions set forth in this Agreement and
Release or at any time prior to his Last Day Worked breached his duties as an employee of the
Company, the Company shall immediately terminate any and all benefits and payments to Employee.
Further, to the extent allowed by applicable law, the Company shall have the right to recoup any
and all payments made to Employee in addition to all legal fees and funds associated with the
recoupment of such payment and any action associated with Employee’s breach.

     28. Employee Debts. In addition, Employee acknowledges and agrees that any monies
that he/she owes the Company may be deducted from his severance payments, unless otherwise
prohibited by law.

     29. Survival. Paragraphs 17 (“Covenant of Non-Solicitation”) and 19 (“Covenant
Against Competition”) of this Agreement and Release shall survive termination for a material breach
by Employee of the provisions of this Agreement and Release for the full period set forth in
Paragraphs 17 and 19. Paragraphs 16 (“Covenant of Confidentiality”), 18 (“Covenant of
Non-Disparagement and Cooperation”), 20 (“Specific Remedy”), and 31 (“Release”) shall survive
termination of this Agreement and Release for any reason.

     30. Counterparts. This Agreement and Release may be executed in any number of
counterparts and/or duplicate originals, any of which shall be deemed to be an original, and all of
which together shall be deemed one and the same document.

     31. RELEASE. FOR AND IN CONSIDERATION OF THE SEVERANCE AND INCENTIVE COMPENSATION
BENEFITS PROVIDED TO EMPLOYEE BY THE COMPANY, CONSIDERATION TO WHICH HE IS NOT OTHERWISE ENTITLED,
EMPLOYEE, ON

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BEHALF OF EMPLOYEE, EMPLOYEE’S HEIRS, EXECUTORS, SUCCESSORS AND ASSIGNS, HEREBY RELEASES AND
FOREVER DISCHARGES RYDER FROM ANY AND ALL CLAIMS, DEMANDS, OBLIGATIONS, LOSSES, CAUSES OF ACTION,
COSTS, EXPENSES, ATTORNEYS’ FEES AND ALL LIABILITIES WHATSOEVER, WHETHER KNOWN OR UNKNOWN,
SUSPECTED OR UNSUSPECTED, FIXED OR CONTINGENT, WHICH EMPLOYEE HAS OR MAY HAVE AGAINST RYDER AS A
RESULT OF EMPLOYEE’S EMPLOYMENT BY AND SUBSEQUENT TERMINATION AS AN EMPLOYEE OF THE COMPANY, UP TO
THE DATE OF THE EXECUTION OF THIS AGREEMENT AND RELEASE. THIS INCLUDES BUT IS NOT LIMITED TO
CLAIMS AT LAW OR EQUITY OR SOUNDING IN CONTRACT (EXPRESS OR IMPLIED) OR TORT ARISING UNDER STATE
WORKERS’ COMPENSATION CLAIMS OR STATE WORKERS’ COMPENSATION LAWS, FEDERAL, STATE, OR LOCAL LAWS
PROHIBITING RELIGION, NATIONAL ORIGIN, COLOR, AGE, SEX, RACE, DISABILITY, VETERAN OR ANY OTHER
FORMS OF DISCRIMINATION. THIS FURTHER INCLUDES ANY AND ALL CLAIMS ARISING UNDER THE LILLY
LEDBETTER FAIR PAY ACT OF 2009, THE AGE DISCRIMINATION IN EMPLOYMENT ACT (“ADEA”), THE AMERICANS
WITH DISABILITIES ACT OF 1990, THE ADA AMENDMENTS ACT OF 2008, TITLE VII OF THE CIVIL RIGHTS ACT OF
1964, OR THE EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA), AS AMENDED, OR CLAIMS GROWING OUT OF
ANY LEGAL RESTRICTIONS ON THE COMPANY’S RIGHT TO TERMINATE ITS EMPLOYEES. EMPLOYEE COVENANTS THAT
EMPLOYEE WILL NOT FILE ANY ADMINISTRATIVE CHARGES, LAWSUITS, COMPLAINTS, OR ACTIONS IN ANY STATE OR
FEDERAL AGENCY OR COURT CLAIMING THAT THE COMPANY HAS VIOLATED ANY LAW, BASED UPON ACTS, EVENTS, OR
OMISSIONS OCCURRING ON OR BEFORE THE DATE OF EXECUTION OF THIS AGREEMENT AND RELEASE; PROVIDED
HOWEVER THAT EMPLOYEE MAY CHALLENGE THE VALIDITY OF ANY ADEA RELEASE CONTAINED IN THIS AGREEMENT
AND RELEASE. IF EMPLOYEE BREACHES THIS COVENANT, EMPLOYEE AGREES THAT EMPLOYEE WILL INDEMNIFY THE
COMPANY FOR ALL DAMAGES AND EXPENSES, INCLUDING LEGAL FEES, INCURRED BY THE COMPANY IN DEFENDING,
PARTICIPATING IN, OR INVESTIGATING ANY MATTER OR PROCEEDING COVERED BY THIS PARAGRAPH; PROVIDED
HOWEVER, THAT THE INDEMNITY OBLIGATIONS OF THIS PARAGRAPH DO NOT APPLY TO A CLAIM CHALLENGING THE
KNOWING AND VOLUNTARY NATURE OF ANY ADEA RELEASE PORTION OF THIS AGREEMENT AND RELEASE. IN ANY
ADEA ACTION, THE COMPANY WILL HAVE THE RIGHT TO RECOVER ATTORNEY’S FEES AND COSTS CONSISTENT WITH
THE PROVISIONS OF THE ADEA.

     32. Non-Admission. This Agreement and Release shall not in any way be construed as an
admission by the Company of any unlawful or wrongful acts whatsoever against Employee or any other
person, and the Company specifically disclaims any liability to or wrongful acts against Employee
or any other person, on the part of RYDER.

     33. Entire Agreement. Employee understands that this document constitutes the entire
agreement concerning severance pay and related benefits between Employee and the Company, that this
document may not be modified except by a written document signed by Employee and the Company, and
that no other promises have been made concerning the subject matter covered herein. Employee
understands and agrees that the Company has no obligations to Employee beyond the terms of this
Agreement and Release and Employee acknowledges that Employee has not relied upon any
representations or statements, written or oral, not set forth in this document. Employee

10

 

further acknowledges that the severance pay and benefits set forth in this Agreement and
Release (with the exception of any accrued vacation) are not otherwise owed to Employee as a result
of Employee’s employment with the Company, and therefore are a material inducement for Employee’s
execution of this Agreement and Release.

     34. Revocation Period. Employee understands and acknowledges that Employee has seven
(7) calendar days following Employee’s execution of the Post-Termination Release to revoke
Employee’s acceptance of this Agreement and Release (the “Revocation Period”) and that this
Agreement and Release shall not become effective or enforceable until the Revocation Period has
expired. Revocation of this Agreement and Release must be made by a written notice of revocation
delivered by hand or sent by overnight mail or certified mail/return receipt requested within the
Revocation Period to Marcia Narine, Vice President, Ryder System, Inc., Law Department
4th Floor, 11690 N.W. 105th Street, Miami, Florida 33178-1103. In addition,
Employee understands and acknowledges that no severance payments or incentive compensation will be
paid under the terms of this Agreement and Release until the Effective Date, except for Employee’s
vacation entitlement, if any.

EMPLOYEE CERTIFIES THAT EMPLOYEE HAS FULLY READ, HAS RECEIVED AN EXPLANATION OF, HAS NEGOTIATED AND
COMPLETELY UNDERSTANDS THE PROVISIONS OF THIS AGREEMENT AND RELEASE, THAT EMPLOYEE HAS BEEN ADVISED
BY THE COMPANY TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS AGREEMENT AND RELEASE AND THE
POST-TERMINATION RELEASE, THAT EMPLOYEE HAS BEEN GIVEN A REASONABLE PERIOD OF AT LEAST TWENTY-ONE
(21) CALENDAR DAYS TO REVIEW AND CONSIDER THE PROVISIONS OF THIS AGREEMENT AND RELEASE, AND THAT
EMPLOYEE IS SIGNING FREELY AND VOLUNTARILY, WITHOUT DURESS, COERCION OR UNDUE INFLUENCE.

	 	 	 	 	 	 	 	 	 	 	 

	WITNESSES:
	 	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Anthony G. Tegnelia	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	     (“Employee”)	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	     /s/ Gregory Greene

	 	8/23/10
	 	 	 	/s/ Anthony Tegnelia
	 	8/23/10	 	 
	 	 	 	 	 	 	 
	Signature

	 	Date
	 	 	 	Signature
	 	Date	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	     Gregory Greene
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Print Name

	 	 	 	 	 	SAP#	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	     /s/ Marcia Narine

	 	8/23/10	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Signature

	 	Date	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	     Marcia Narine
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Print Name
	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Address
	 	 	 	 	 	 	 	 	 	 

11

 

	 	 	 	 	 	 	 	 	 	 	 	 	 

	ATTEST:	 	 	 	 	 	RYDER TRUCK RENTAL, INC.	 	 	 	 
	 	 	 	 	 	 	(“Company”)	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	     /s/ Marcia Narine

	 	8/23/10
	 	 	 	By:
	 	     /s/ Robert Fatovic
	 	8/23/10
	 	 
	 	 	 	 	 	 	 	 	 
	Signature	 	Date	 	 	 	Signature	 	Date	 	 
	 	 	 	 	 	 	Bob Fatovic, Chief Legal Officer	 	 	 	 

12

 

POST-TERMINATION RELEASE

     This Post-Termination Release is hereby executed by ______________ (“Employee”) on [ ] (the
“Release Date”).

     WHEREAS, Employee entered into a Separation Agreement and Release (“Agreement and Release”)
with Ryder Truck Rental, Inc. (the “Company”) as of August [ ], 2010;

     WHEREAS, the Agreement and Release required Employee to execution this Post-Termination
Release subsequent to the Last Day Worked (as defined in the Agreement and Release).

     NOW, THEREFORE, in consideration of the following terms, covenants and conditions, the
Employee agrees as follows:

     1. Employee hereby confirms each and every agreement set forth in the Agreement and Release as
if made on the Release Date;

     2. Employee acknowledges and agrees that upon receipt of $[ ], he will have been paid for his
full vacation and holiday entitlement and will be owed no further vacation or holiday pay by the
Company.

     3. RELEASE. FOR AND IN CONSIDERATION OF THE SEVERANCE BENEFITS AND INCENTIVE
COMPENSATION PROVIDED TO EMPLOYEE BY THE COMPANY PURSUANT TO THE AGREEMENT AND RELEASE,
CONSIDERATION TO WHICH HE IS NOT OTHERWISE ENTITLED, EMPLOYEE, ON BEHALF OF EMPLOYEE, EMPLOYEE’S
HEIRS, EXECUTORS, SUCCESSORS AND ASSIGNS, HEREBY RELEASES AND FOREVER DISCHARGES RYDER (AS DEFINED
IN THE AGREEMENT AND RELEASE) FROM ANY AND ALL CLAIMS, DEMANDS, OBLIGATIONS, LOSSES, CAUSES OF
ACTION, COSTS, EXPENSES, ATTORNEYS’ FEES AND ALL LIABILITIES WHATSOEVER, WHETHER KNOWN OR UNKNOWN,
SUSPECTED OR UNSUSPECTED, FIXED OR CONTINGENT, WHICH EMPLOYEE HAS OR MAY HAVE AGAINST RYDER AS A
RESULT OF EMPLOYEE’S EMPLOYMENT BY AND SUBSEQUENT TERMINATION AS AN EMPLOYEE OF THE COMPANY, UP TO
THE DATE OF THE EXECUTION OF THIS POST-TERMINATION RELEASE. THIS INCLUDES BUT IS NOT LIMITED TO
CLAIMS AT LAW OR EQUITY OR SOUNDING IN CONTRACT (EXPRESS OR IMPLIED) OR TORT ARISING UNDER STATE
WORKERS’ COMPENSATION CLAIMS OR STATE WORKERS’ COMPENSATION LAWS, FEDERAL, STATE, OR LOCAL LAWS
PROHIBITING RELIGION, NATIONAL ORIGIN, COLOR, AGE, SEX, RACE, DISABILITY, VETERAN OR ANY OTHER
FORMS OF DISCRIMINATION. THIS FURTHER INCLUDES ANY AND ALL CLAIMS ARISING UNDER THE LILLY
LEDBETTER FAIR PAY ACT OF 2009, THE AGE DISCRIMINATION IN EMPLOYMENT ACT (“ADEA”), THE AMERICANS
WITH DISABILITIES ACT OF 1990, THE ADA AMENDMENTS ACT OF 2008, TITLE VII OF THE CIVIL RIGHTS ACT OF
1964, OR THE EMPLOYEE RETIREMENT INCOME SECURITY ACT (ERISA), AS AMENDED, OR CLAIMS GROWING OUT OF
ANY LEGAL RESTRICTIONS ON THE COMPANY’S RIGHT TO TERMINATE ITS EMPLOYEES. EMPLOYEE COVENANTS THAT
EMPLOYEE WILL NOT FILE ANY ADMINISTRATIVE CHARGES, LAWSUITS, COMPLAINTS, OR ACTIONS IN ANY STATE OR
FEDERAL

 

 

AGENCY OR COURT CLAIMING THAT THE COMPANY HAS VIOLATED ANY LAW, BASED UPON ACTS, EVENTS, OR
OMISSIONS OCCURRING ON OR BEFORE THE DATE OF EXECUTION OF THIS POST-TERMINATION RELEASE; PROVIDED
HOWEVER THAT EMPLOYEE MAY CHALLENGE THE VALIDITY OF ANY ADEA RELEASE CONTAINED IN THIS
POST-TERMINATION RELEASE. IF EMPLOYEE BREACHES THIS COVENANT, EMPLOYEE AGREES THAT EMPLOYEE WILL
INDEMNIFY THE COMPANY FOR ALL DAMAGES AND EXPENSES, INCLUDING LEGAL FEES, INCURRED BY THE COMPANY
IN DEFENDING, PARTICIPATING IN, OR INVESTIGATING ANY MATTER OR PROCEEDING COVERED BY THIS
PARAGRAPH; PROVIDED HOWEVER, THAT THE INDEMNITY OBLIGATIONS OF THIS PARAGRAPH DO NOT APPLY TO A
CLAIM CHALLENGING THE KNOWING AND VOLUNTARY NATURE OF ANY ADEA RELEASE PORTION OF THIS
POST-TERMINATION RELEASE. IN ANY ADEA ACTION, THE COMPANY WILL HAVE THE RIGHT TO RECOVER
ATTORNEY’S FEES AND COSTS CONSISTENT WITH THE PROVISIONS OF THE ADEA.

     4. Revocation Period. Employee understands and acknowledges that Employee has seven
(7) calendar days following Employee’s execution of this Post-Termination Release to revoke
Employee’s release and Employee’s acceptance of the Agreement and Release (the “Revocation Period”)
and that the obligations of the Company and the Employee set forth in the Agreement and Release
shall not become effective or enforceable until the Revocation Period has expired (the “Effective
Date”). Revocation of this Agreement and Release must be made by a written notice of revocation
delivered by hand or sent by overnight mail or certified mail/return receipt requested within the
Revocation Period to Marcia Narine, Vice President, Ryder System, Inc., Law Department
4th Floor, 11690 N.W. 105th Street, Miami, Florida 33178-1103. In addition,
Employee understands and acknowledges that no severance payments or incentive compensation will be
paid under the terms of this Agreement and Release until the Effective Date, except for Employee’s
vacation entitlement, if any.

 

 

EMPLOYEE CERTIFIES THAT EMPLOYEE HAS FULLY READ, HAS RECEIVED AN EXPLANATION OF, HAS NEGOTIATED AND
COMPLETELY UNDERSTANDS THE PROVISIONS OF THE AGREEMENT AND RELEASE AND THIS POST-TERMINATION
RELEASE, THAT EMPLOYEE HAS BEEN ADVISED BY THE COMPANY TO CONSULT WITH AN ATTORNEY BEFORE SIGNING
THE AGREEMENT AND RELEASE AND THIS POST-TERMINATION RELEASE, THAT EMPLOYEE HAS BEEN GIVEN A
REASONABLE PERIOD OF AT LEAST TWENTY-ONE (21) CALENDAR DAYS TO REVIEW AND CONSIDER THE PROVISIONS
OF THIS POST-TERMINATION RELEASE, AND THAT EMPLOYEE IS SIGNING FREELY AND VOLUNTARILY, WITHOUT
DURESS, COERCION OR UNDUE INFLUENCE.

	 	 	 	 	 	 	 	 	 	 	 

	 

	 	 	 	 	 	Anthony G. Tegnelia
 

	 	 	 	 
	 

	 	 	 	 	 	(“Employee”)	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Signature
	 	Date	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 
	WITNESSES:
	 	 	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Signature

	 	Date	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Print Name
	 	 	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 b	 	 	 	 	 	 
	Address
	 	 	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Signature

	 	Date	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	Print Name
	 	 	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	AddressExhibit 10.1

Exhibit 10.1

REGISTRATION RIGHTS AGREEMENT

by and among

CATALYTIC SOLUTIONS, INC.

and

THE INVESTOR PARTIES HERETO

dated as of

October 15, 2010

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	 
	 	 	 	 
	1. Definitions
	 	 	1	 
	 
	 	 	 	 
	2. Demand Registrations
	 	 	3	 
	 
	 	 	 	 
	3. Piggyback Registrations
	 	 	4	 
	 
	 	 	 	 
	4. Lock-Up Arrangements
	 	 	5	 
	 
	 	 	 	 
	5. Registration Procedures
	 	 	6	 
	 
	 	 	 	 
	6. Registration Expenses
	 	 	8	 
	 
	 	 	 	 
	7. Indemnification
	 	 	9	 
	 
	 	 	 	 
	8. Participation in Underwritten Registrations
	 	 	11	 
	 
	 	 	 	 
	9. Rule 144 Reporting
	 	 	11	 
	 
	 	 	 	 
	10. Miscellaneous
	 	 	11	 

 

 

 

REGISTRATION RIGHTS AGREEMENT

This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of
October 15, 2010, by and between Catalytic Solutions, Inc., a California corporation (the
“Company”), and each other party that is a signatory hereto (each a “Purchaser”
and collectively the “Purchasers”).

Recital

The parties have agreed to enter into this Agreement in connection with, and as a condition to
the Closing under, the Securities Purchase Agreement, dated as of May 28, 2010, by and between the
Company and the Purchasers (the “Purchase Agreement”).

Agreement

NOW, THEREFORE, IN CONSIDERATION of the mutual covenants contained in this Agreement, and for
other good and valuable consideration the receipt and adequacy of which are hereby acknowledged,
the Company and the Purchaser agree as follows:

1. Definitions. In addition to the terms defined elsewhere in this Agreement,
(a) capitalized terms that are not otherwise defined herein have the meanings given to such terms
in the Purchase Agreement, and (b) the following terms have the meanings here set forth.

“1933 Act” means the Securities Act of 1933, as amended.

“1934 Act” means the Securities Exchange Act of 1934, as amended.

“Agreement” has the meaning set forth in the preamble to this Agreement.

“Closing” means the Final Closing, as defined in the Purchase Agreement.

“Company Common Stock” means the Class B Common Stock, no par value, of the Company.

“Company” has the meaning set forth in the preamble to this Agreement.

“Demand Registration” has the meaning set forth in Section 2.1.

“Market Price” means, on any Trading Day, the volume weighted average price per share
of Shares on a “regular way” basis on the NASDAQ Capital Market System (or if Shares are not then
listed on the NASDAQ Capital Market System, such other securities exchange and/or quotation system
on which Shares are then listed and/or quoted).

“Note Shares” means the shares of Company Common Stock to be issued to the holders of
the Notes to be purchased pursuant to the Purchase Agreement upon the conversion thereof.

“Offer” has the meaning set forth in Section 10.

 

 

 

“Offered Securities” has the meaning set forth in Section 10.

“Person” means any individual, partnership, joint venture, corporation, limited
liability entity, trust, joint venture, unincorporated organization or other entity (including a
governmental entity).

“Piggyback Registration” has the meaning set forth in Section 3.1.

“Purchase Agreement” has the meaning set forth in the recital to this Agreement.

“Qualified Holders” mean the holders of a majority of the Registrable Securities then
outstanding.

“Registrable Securities” means (a) the Shares and (b) any equity securities of the
Company or CDTI, as applicable, issued or issuable with respect to any of the Shares by way of a
stock dividend or stock split or in connection with a combination of shares, recapitalization,
merger, consolidation or other reorganization or similar transaction. As to any particular
Registrable Securities, such securities shall cease to be Registrable Securities when (i) they have
been distributed to the public pursuant to an offering registered under the 1933 Act, (ii) they
have been sold to the public through a broker, dealer or market maker in compliance with Rule 144
or (iii) all Registrable Securities are then eligible for resale in a single sale without
registration and without being limited to any volume, time or manner of sale limitations under
Rule 144.

“Registration Request” has the meaning set forth in Section 10.

“Rule 144” means Rule 144 under the 1933 Act (or any successor rule then in effect).

“Rule 145” means Rule 145 under the 1933 Act (or any successor rule then in effect).

“SEC” means the U.S. Securities and Exchange Commission.

“Shares” means (i) prior to the Merger Closing, the Note Shares, and (ii) from and
after the Merger Closing, the shares of CDTI Common Stock to be issued in exchange for the Note
Shares pursuant to the Merger Agreement.

“Shelf Registration” has the meaning set forth in Section 2.1.

“Stockholder” has the meaning set forth in the preamble to this Agreement.

“Suspension Period” has the meaning set forth in Section 5.2.

“Trading Day” means (a) any day on which the Shares are listed or quoted and traded on
the NASDAQ Global Market or (b) if trading ceases to occur on the NASDAQ Global Market (or any
successor thereto), any Business Day.

“Violation” has the meaning set forth in Section 7.1.

 

2

 

2. Demand Registrations.

2.1 Requests for Registration. At any time from and after the Final Closing, the
Qualified Holders may, subject to the terms hereof, including Section 2.2,
Section 2.4, Section 4.1 and Section 10, request registration under
the 1933 Act of all or any portion of their Registrable Securities (a “Demand
Registration”). Each request for a Demand Registration shall specify the approximate number of
Registrable Securities requested to be registered and the intended method of distribution. Within
ten days after receipt of any such request, the Company shall give written notice of such requested
registration to all other holders of Registrable Securities and, subject to Section 2.3,
shall include as part of such Demand Registration all Registrable Securities with respect to which
the Company has received written requests for inclusion therein within 15 days after the receipt of
the Company’s notice by such holders. If the Company is eligible to file with the SEC a
registration statement on Form S-3 (or any successor form), the holders of a majority of the
Registrable Securities which are included in a Demand Registration may require the Company to file
such Demand Registration with the SEC for an offering on a delayed or continuous basis in
accordance with and pursuant to Rule 415 promulgated under the 1933 Act (or any successor rule then
in effect) (a “Shelf Registration”).

2.2 Limitations on Demand Registrations. The holders of the Registrable Securities
shall be entitled to request three Demand Registrations with respect to Registrable Securities;
provided, however, that a Demand Registration requested pursuant to this Agreement shall not be
deemed to have been effected for purposes of this Section 2.2 unless (i) it has been
declared effective by the SEC (or becomes automatically effective upon filing with the SEC),
(ii) it has remained effective for the period set forth in Section 5.2, (iii) holders of
Registrable Securities included in such registration have not withdrawn sufficient Registrable
Securities from such registration such that the remaining holders of Registrable Securities
requesting registration would not have been able to request registration under the provisions of
Section 2.1, and (iv) the offering of Registrable Securities pursuant to such registration
is not subject to any stop order, injunction or other order or requirement of the SEC or other
applicable governmental entity.

2.3 Priority on Demand Registrations. The Company shall not include in any Demand
Registration any securities that are not Registrable Securities without the prior written consent
of the Qualified Holders. If a Demand Registration is an underwritten offering and the managing
underwriters advise the Company in writing that in their opinion the number of Registrable
Securities requested to be included in such offering, and if permitted hereunder, other securities
requested to be included in such offering, exceeds the number of securities which can be sold
therein without adversely affecting the marketability of the offering and within a price range
acceptable to the holders of a majority of the Registrable Securities requested to be registered,
the Company shall first include in such registration, prior to the inclusion of any securities
which are not Registrable Securities, the Registrable Securities requested to be included which in
the opinion of such underwriters can be sold without adversely affecting the marketability of the
offering, pro rata among the respective holders thereof on the basis of the amount of Registrable
Securities owned by each such requesting holder.

 

3

 

2.4 Restrictions on Registration. The Company shall not be obligated to effect any
Demand Registration within 90 days after the effective date of a previous Demand Registration.
The Company may postpone for up to 45 days the filing or the effectiveness of a registration
statement for a Demand Registration if the Company furnishes to the Qualified Holders a certificate
of the Company signed by the Chief Financial Officer of the Company stating that such Demand
Registration would reasonably be expected to have a material adverse effect on any proposal or plan
by the Company to engage in any material financing, acquisition of assets (other than in the
ordinary course of business) or any merger, consolidation, tender offer, reorganization or other
significant transaction; provided, that, in such event, the holders of Registrable Securities
initially requesting such Demand Registration shall be entitled to withdraw such request and, if
such request is withdrawn, such Demand Registration shall not count as one of the permitted Demand
Registrations hereunder; and provided, further, that the Company may not exercise its right to
defer the filing or effectiveness of a registration statement for a Demand Registration more than
once in any 12-month period.

2.5 Selection of Underwriters. The holders of a majority of the Registrable
Securities included in any Demand Registration shall have the right to select the investment
banker(s) and/or manager(s) to administer the offering in connection with any Demand Registration,
subject to the approval of the Company (which approval shall not be unreasonably withheld or
delayed).

3. Piggyback Registrations.

3.1 Right to Piggyback. Whenever the Company proposes to register any of its
securities under the 1933 Act (for its own account or for the account of any other holder of its
securities) (other than pursuant to (i) a Demand Registration which shall be governed by
Section 2 or (ii) a registration related solely to employee benefit plans or a Rule 145
transaction), and the registration form to be used may be used for the registration of Registrable
Securities (a “Piggyback Registration”), the Company shall give prompt written notice to
all holders of Registrable Securities of its intention to effect such a registration and, subject
to the terms hereof, including Section 10, shall include in such registration all
Registrable Securities with respect to which the Company has received written requests for
inclusion therein within 21 days after such holders receive the Company’s notice.

3.2 Priority on Primary Registrations. If a Piggyback Registration is an underwritten
primary registration on behalf of the Company, and the managing underwriters advise the Company in
writing that in their opinion the number of securities requested to be included in such
registration exceeds the number of securities which can be sold therein without adversely affecting
the marketability of the offering, the Company shall include in such registration (a) first, the
securities that the Company proposes to sell, (b) second, the Registrable Securities requested to
be included in such registration, pro rata among the respective holders thereof on the basis of the
amount of Registrable Securities owned by each such requesting holder and (c) third, other
securities requested to be included in such registration. Notwithstanding the foregoing, the
holders of Registrable Securities shall be entitled to include in any such registration of the
Company’s securities at least 20% of the aggregate amount of securities registered in such
registration.

 

4

 

3.3 Priority on Other Registrations. If a Piggyback Registration is an underwritten
secondary registration on behalf of holders of the Company’s securities other than holders of
Registrable Securities, and the managing underwriters advise the Company in writing that in their
opinion the number of securities requested to be included in such registration exceeds the number
of securities which can be sold in such offering without adversely affecting the marketability of
the offering, the Company shall include in such registration (a) first, the securities requested to
be included therein by the holders requesting such registration and the Registrable Securities
requested to be included in such registration, pro rata among the holders of all such securities
(including the securities of the requesting holders and the holders of Registrable Securities) on
the basis of the number of securities of the Company owned by each such holder and (b) second,
other securities requested to be included in such registration; provided, however, that in no event
shall the Company grant to any third party, after the date hereof, registration rights that have a
higher priority than the demand and piggyback registration rights applicable to Registrable
Securities.

3.4 Selection of Underwriters. The Company shall have the right to select the
investment banker(s) and/or manager(s) to administer the offering in connection with any Piggyback
Registration.

4. Lock-Up Arrangements.

4.1 Holders of Registrable Securities. No holder of Registrable Securities shall
effect any public sale or distribution (including sales pursuant to Rule 144) of equity securities
of the Company, or any securities convertible into or exchangeable or exercisable for such
securities, during (i) the 180-day period beginning on the date of the Closing (except as part of a
Demand Registration or a Piggyback Registration pursuant to this Agreement) and (ii) the 90-day
period beginning on the effective date of any Demand Registration or Piggyback Registration in
which Registrable Securities are included (except as part of such registration), unless (x) the
underwriters managing the registered public offering, in the case of an underwritten public
offering, or (y) the Company, in the case of a non-underwritten public offering, otherwise agree;
provided, that no holder of Registrable Securities shall be subject to the restrictions of
clause (ii) of this Section 4.1 unless all of the Company’s executive officers and
directors and all holders holding in excess of 5% of its outstanding equity securities are subject
to restrictions no less restrictive than those referred to in this Section 4.1.

4.2 The Company. The Company shall not effect any public sale or distribution of its
equity securities, or any securities convertible into or exchangeable or exercisable for such
securities, during the period beginning on the effective date of any registration statement in
which the holders of Registrable Securities are participating and ending on the earlier of (x) the
date on which all Registrable Securities registered on such registration statement are sold and (y)
90 days after the effective date of such registration statement, unless in each case (i) the
underwriters managing the registered public offering, in the case of an underwritten public
offering, or (ii) the holders of a majority of the Registrable Securities participating in such
public offering, in the case of a non-underwritten public offering, otherwise agree.

 

5

 

5. Registration Procedures. Whenever the holders of Registrable Securities have
requested that any Registrable Securities be registered pursuant to this Agreement, the Company
shall effect the registration and the sale of such Registrable Securities in accordance with the
intended method of disposition thereof, and pursuant thereto the Company shall as expeditiously as
possible:

5.1 prepare and file (not later than, in the case of a request for a Demand Registration,
30 days following such request) with the SEC a registration statement and such amendments and
supplements as may be necessary with respect to such Registrable Securities and use its
commercially reasonable efforts to cause such registration statement to become effective;
provided that before filing a registration statement or prospectus or any amendments or
supplements thereto, the Company shall furnish to counsel selected by the holders of a majority of
the Registrable Securities being registered copies of such documents proposed to be filed with an
adequate opportunity for review and comment by such counsel;

5.2 notify each holder of Registrable Securities of the effectiveness of each registration
statement filed hereunder and prepare and file with the SEC such amendments and supplements to such
registration statement and the prospectus used in connection therewith as may be necessary to keep
such registration statement effective for a period of not less than 180 days (or until the
distribution described in the registration statement has been completed) (or, in the case of a
Shelf Registration, a period ending on the earlier of the date on which all Registrable Securities
covered by such registration statement (i) have been sold or (ii) are then eligible for resale in a
single sale without registration and without being limited to any volume, time or manner of sale
limitations under Rule 144) and to comply with the provisions of the 1933 Act with respect to the
disposition of securities covered by such registration statement during such period in accordance
with the intended methods of disposition by the sellers thereof set forth in such registration
statement; provided, however, that at any time, upon written notice to the participating holders of
Registrable Securities and for a period not to exceed 45 days thereafter (the “Suspension
Period”), the Company may suspend the use or effectiveness of any registration statement (and
the holders of Registrable Securities participating in such offering shall not offer or sell any
Registrable Securities pursuant to such registration statement during the Suspension Period) if the
Company reasonably believes that the Company may, in the absence of such suspension hereunder, be
required under state or federal securities laws to disclose any corporate development the
disclosure of which could reasonably be expected to have a material adverse effect upon the
Company, its stockholders, a significant transaction or event involving the Company, or any
negotiations, discussions, or proposals directly relating thereto. No more than two such
Suspension Periods shall be permitted to occur in any 12-month period. In the event that the
Company shall exercise its rights hereunder to effect a Suspension Period, the applicable time
period during which the registration statement is to remain effective shall be extended by a period
of time equal to the duration of the Suspension Period;

5.3 furnish to each seller of Registrable Securities such number of copies of such
registration statement, each amendment and supplement thereto, the prospectus included in such
registration statement (including each preliminary prospectus) and such other documents as such
seller may reasonably request in order to facilitate the disposition of the Registrable
Securities owned by such seller;

 

6

 

5.4 register or qualify such Registrable Securities under such other securities or blue sky
laws of such jurisdictions as the holders of Registrable Securities shall reasonably request and do
any and all other acts and things that may be necessary or reasonably advisable to enable such
seller to consummate the disposition in such jurisdictions of the Registrable Securities owned by
such seller; provided, however, that the Company shall not be required to (a) qualify generally to
do business in any jurisdiction where it would not otherwise be required to qualify but for this
subsection, (b) subject itself to taxation in any such jurisdiction or (c) consent to general
service of process in any such jurisdiction;

5.5 promptly notify each seller of such Registrable Securities, at any time when a prospectus
relating thereto is required to be delivered under the 1933 Act, of the happening of any event as a
result of which the prospectus included in the registration statement relating to such Registrable
Securities contains an untrue statement of a material fact or omits to state any material fact
necessary to make the statements therein not misleading, and, at the request of any such seller,
the Company shall prepare a reasonable number of copies of a supplement or amendment to such
prospectus so that, as thereafter delivered to the sellers of such Registrable Securities, such
prospectus shall not contain an untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein not misleading, in which event the period mentioned
in Section 5.2 shall be extended by the length of the period from and including the date
when each seller of such Registrable Securities shall have received such notice to the date on
which each such seller has received the copies of the supplemented or amended prospectus
contemplated under this Section 5.5;

5.6 cause all such Registrable Securities to be listed on each securities exchange and/or
quotation system on which similar securities issued by the Company are then listed and/or quoted;

5.7 provide a transfer agent and registrar for all such Registrable Securities not later than
the effective date of such registration statement;

5.8 enter into such customary agreements (including underwriting agreements in customary form)
and take all such other actions as the underwriters, if any, reasonably request in order to
expedite or facilitate the disposition of such Registrable Securities;

5.9 make available for inspection by any seller of Registrable Securities, any underwriter
participating in any disposition pursuant to such registration statement, and any attorney,
accountant or other agent retained by any such seller or underwriter, all financial and other
records, pertinent corporate documents and properties of the Company, and cause the Company’s
officers, directors, employees and independent accountants to supply all information reasonably
requested by any such seller, underwriter, attorney, accountant or agent in connection with such
registration statement, in each case as is necessary or reasonably advisable (in the reasonable
judgment of the requesting party) to enable such seller or underwriter to exercise their due
diligence responsibilities and defenses under the 1933 Act;

 

7

 

5.10 otherwise comply with all applicable rules and regulations of the SEC, and make available
to its security holders, as soon as reasonably practicable, an earnings statement covering the
period of at least twelve months beginning with the first day of the Company’s first full calendar
quarter after the effective date of the registration statement, which earnings statement shall
satisfy the provisions of Section 11(a) of the 1933 Act and Rule 158 thereunder;

5.11 in the event of the issuance of any stop order suspending the effectiveness of a
registration statement, or of any order suspending or preventing the use of any related prospectus
or suspending the qualification of any securities included in such registration statement for sale
in any jurisdiction, the Company shall use its commercially reasonable efforts promptly to obtain
the withdrawal of such order;

5.12 obtain a cold comfort letter from the Company’s independent accountants in customary form
and covering such matters of the type customarily covered by cold comfort letters as a seller of
Registrable Securities or the underwriters, if any, may reasonably request;

5.13 furnish, at the request of any underwriter on the date the Registrable Securities are
delivered to the underwriters for sale pursuant to such registration, an opinion, dated such date,
of counsel representing the Company for the purposes of such registration, addressed to the
underwriters covering such legal matters with respect to the registration in respect of which such
opinion is being given as the underwriters may reasonably request and are customarily included in
such opinions;

5.14 use its commercially reasonable efforts to cause such Registrable Securities covered by
such registration statement to be registered with or approved by such other governmental entities
or authorities as may be necessary to enable the sellers thereof to consummate the disposition of
such Registrable Securities; and

5.15 take such other actions as are necessary or reasonably advisable in order to facilitate
and/or expedite the registration and disposition of any Registrable Securities pursuant to the
terms of this Agreement.

6. Registration Expenses. All expenses incident to the Company’s performance of or
compliance with this Agreement (whether with respect to a Demand Registration or Piggyback
Registration), including, without limitation, all registration and filing fees (including the fees
of the National Association of Securities Dealers, Inc. and the SEC’s registration fees), fees of
any transfer agent and registrar, fees and expenses of compliance with securities or blue sky laws,
printing expenses, “road show” or other marketing expenses, fees and disbursements of counsel for
the Company, fees and disbursements of one counsel chosen by the holders of a majority of the
Registrable Securities included in such registration, fees and expenses of the Company’s
independent registered public accounting firm (including the fees and expenses of any comfort
letters required by or incident to the performance and compliance with this Agreement), fees and
expenses of underwriters (excluding discounts and commissions attributable to the Registrable
Securities included in such registration), the Company’s internal expenses and the expenses and
fees for listing the securities to be registered on each securities
exchange or quotation system on which similar securities issued by the Company are then listed
or quoted, shall be borne by the Company.

 

8

 

7. Indemnification.

7.1 In connection with any Demand Registration or Piggyback Registration, the Company agrees
to indemnify, to the extent permitted by law, each holder of Registrable Securities, the partners
or officers, employees, directors and representatives of such holder, and each Person who controls
(within the meaning of the 1933 Act) such holder against all losses, claims, damages, liabilities
and expenses incurred by such party arising out of, based upon or caused by any of the following
statements, omissions or violations (each, a “Violation”): (i) any untrue or alleged
untrue statement of material fact contained in any registration statement, prospectus or
preliminary prospectus or any amendment thereof or supplement thereto, (ii) any omission or alleged
omission of 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 (iii) any
violation or alleged violation by the Company of the 1933 Act, the 1934 Act, any state securities
laws or any rule or regulation promulgated under the 1933 Act, the 1934 Act or any state securities
laws; and the Company will reimburse each such holder, each of its partners, officers, employees,
directors and representatives, and each Person controlling such holder for any legal or other
expenses reasonably incurred, as such expenses are incurred, by any of them in connection with
investigating or defending any such loss, claim, damage, liability or action; provided, however,
that the Company shall not be liable in any such case for any such loss, claim, damage, liability
or action to the extent that it is caused by a Violation that is based on, and occurs in reliance
upon and in conformity with, any information furnished in writing to the Company by such holder
stated to be specifically for use in such registration. In connection with an underwritten
offering, the Company shall indemnify such underwriters, their partners, officers, directors,
employees, representatives and each Person who controls (within the meaning of the 1933 Act) such
underwriters to the same extent as provided above with respect to the indemnification of the
holders of Registrable Securities.

7.2 In connection with any Demand Registration or Piggyback Registration in which a holder of
Registrable Securities is participating, each such holder shall indemnify, to the extent permitted
by law, the Company, its directors, officers, any other holder selling securities in such Demand
Registration or Piggyback Registration, and each Person who controls (within the meaning of
the 1933 Act) the Company against all losses, claims, damages, liabilities and expenses caused by
any Violation, but only to the extent that such Violation is based on, and occurs in reliance upon
and in conformity with, any information furnished in writing by such holder to the Company stated
to be specifically for use in such registration; and such holder will reimburse the Company and
each such Person for any legal or other expenses reasonably incurred, as such expenses are
incurred, by any of them in connection with investigating or defending any such loss, claim,
damage, liability or expense; provided, that, the obligation to indemnify shall be individual, not
joint and several, for each holder.

 

9

 

7.3 Any Person entitled to indemnification hereunder shall (a) give prompt written notice to
the indemnifying party of any claim with respect to which it seeks indemnification (provided that
the failure to give prompt notice shall not impair any Person’s right to
indemnification hereunder to the extent such failure has not materially prejudiced the
indemnifying party’s ability to defend such claim), and (b) unless in the reasonable judgment of
any indemnified party a conflict of interest between such indemnified and indemnifying parties
exists with respect to such claim, permit such indemnifying party to assume the defense of such
claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed,
the indemnifying party shall not be subject to any liability for any settlement made by the
indemnified party without the indemnifying party’s consent (but such consent shall not be
unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the
defense of a claim shall be obligated to pay the fees and expenses of one counsel (but not more
than one) for all parties indemnified by such indemnifying party with respect to such claim, unless
in the reasonable judgment (with advice of counsel) of any indemnified party a conflict of interest
may exist between such indemnified party and any other of such indemnified parties with respect to
such claim. No indemnifying party shall, without the consent of such indemnified party (which
consent shall not be unreasonably withheld), effect any settlement of any pending or threatened
proceeding in respect of which such indemnified party is a party and indemnity has been sought
hereunder by such indemnified party, unless such settlement includes an unconditional release of
such indemnified party and its affiliates from all liability for claims that are the subject matter
of such proceeding.

7.4 The indemnification provided for under this Agreement shall remain in full force and
effect regardless of any investigation made by or on behalf of any indemnified party or any
partner, officer, employee, director, representative or controlling Person of such indemnified
party and shall survive the transfer of Registrable Securities.

7.5 If the indemnification provided for under this Agreement is unavailable to an indemnified
party hereunder in respect of any losses, liabilities, claims, damages and expense referred to
herein, then the indemnifying party, in lieu of indemnifying such indemnified party, shall
contribute to the amount paid or payable by such indemnified party as a result of such losses,
claims, damages, liabilities or expenses in such proportion as is appropriate to reflect the
relative fault of the indemnifying party and indemnified parties in connection with the actions
which resulted in such losses, claims, damages, liabilities or expenses, as well as any other
relevant equitable considerations. The relative fault of such indemnifying party and indemnified
parties shall be determined by reference to, among other things, whether any Violation has been
committed by, or relates to information supplied by, such indemnifying party or indemnified
parties, and the parties’ relative intent, knowledge, access to information and opportunity to
correct or prevent such Violation. The amount paid or payable by a party as a result of the
losses, claims, damages, liabilities and expenses referred to above shall be deemed to include any
legal or other fees or expenses reasonably incurred by such party in connection with any
investigation or proceeding.

7.6 The parties agree that it would not be just and equitable if contribution pursuant to this
Section 7 were determined solely by pro rata allocation or any other method of allocation
that does not take account of the equitable considerations referred to in the immediately preceding
paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f)
of the 1933 Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

 

10

 

7.7 Notwithstanding anything in this Section 7 to the contrary, in connection with any
Demand Registration or Piggyback Registration, the indemnity and contribution obligations and
liabilities of each holder of Registrable Securities shall be limited to the net amount of proceeds
received by such holder pursuant to such registration.

8. Participation in Underwritten Registrations. No Person may participate in any
registration hereunder which is underwritten unless such Person (a) agrees to sell such Person’s
securities on the basis provided in any underwriting arrangements approved by holders of a majority
of the Registrable Securities being registered in such registration and (b) completes and executes
all questionnaires, powers of attorney and other documents reasonably required under the terms of
such underwriting arrangements; provided, that, no holder of Registrable Securities included in any
underwritten registration shall be required to make any representations or warranties to the
Company or the underwriters (other than representations and warranties regarding such holder and
such holder’s intended method of distribution) or to undertake any indemnification obligations to
the Company or the underwriters with respect thereto, except to the extent of the indemnification
provided in Section 7.

9. Rule 144 Reporting. With a view to making available the benefits of certain rules
and regulations of the SEC which may at any time permit the sale of any Registrable Securities to
the public without registration, the Company agrees to use commercially reasonable efforts to:

9.1 file, as and when applicable, with the SEC in a timely manner all reports and other
documents required of the Company under the 1934 Act;

9.2 if the Company is not required to file reports pursuant to the 1934 Act, upon the request
of any holder of Registrable Securities, the Company shall make publicly available the information
specified in subparagraph (c)(2) of Rule 144; and

9.3 so long as a holder owns any Registrable Securities, to furnish to the holder, upon
request, a written statement by the Company as to its compliance with the reporting requirements of
Rule 144 and such other reports and documents of the Company and other information in the
possession of or reasonably obtainable by the Company as the holder may reasonably request in
availing itself of any rule or regulation of the SEC allowing the holder to sell any such
securities without registration.

10. Miscellaneous.

10.1 No Inconsistent Agreements. The Company shall not hereafter enter into any
agreement with respect to its securities which is inconsistent with or violates the rights granted
to the holders of Registrable Securities in this Agreement.

10.2 Remedies. Any Person having rights under any provision of this Agreement shall be
entitled to enforce such rights specifically, to recover damages caused by reason of any breach of
any provision of this Agreement and to exercise all other rights granted by law. The parties agree
and acknowledge that money damages are not an adequate remedy for any breach of the provisions of
this Agreement and that any party may apply for specific performance and for
other injunctive relief in order to enforce or prevent violation of the provisions of this
Agreement. Notwithstanding any provision hereof to the contrary, the rights of the Purchasers to
enforce or otherwise exercise remedies hereunder shall be subject to Section 7.12(b) of the
Purchase Agreement.

 

11

 

10.3 Amendments and Waivers. Notwithstanding any provision hereof to the contrary,
the provisions of this Agreement may be amended or waived only in the manner set forth in
Section 7.3 of the Purchase Agreement.

10.4 Successors, Assigns and Subsequent Holders. (a) All covenants and agreements in
this Agreement by or on behalf of any of the parties shall bind and inure to the benefit of the
respective successors and the permitted assigns of the parties.

(b) The rights to cause the Company to register Registrable Securities pursuant
to this Agreement may be assigned (but only with all related obligations) by a
holder of Registrable Securities to a transferee of such securities.

(c) No assignment or transfer pursuant to this Section 10.4 shall be
effective unless and until (i) the Company is furnished with written notice of the
name and address of such transferee or assignee and the securities with respect to
which such registration rights are being assigned and (ii) such transferee or
assignee agrees in writing to be bound by and subject to the terms and conditions of
this Agreement.

10.5 Entire Agreement. This Agreement constitutes the entire agreement of the parties
with respect to the subject matter hereof and this Agreement supersedes all prior negotiations,
agreements or understandings of the parties of any nature, whether oral or written, relating
thereto.

10.6 Notices. Any and all notices or other communications or deliveries hereunder
shall be in writing, shall be sent to the address for such notices or communications shall be as
set forth in Section 7.2 of the Purchase Agreement and shall be deemed given and effective on the
earliest of (i) the date of transmission, if such notice or communication is delivered via
facsimile at the facsimile number specified in Section 7.2 of the Purchase Agreement prior to 18:30
(New York City time) on a Business Day, (ii) the next Business Day after the date of transmission,
if such notice or communication is delivered via facsimile at the facsimile number specified in
Section 7.2 of the Purchase Agreement on a day that is not a Business Day or later than 18:30 (New
York City time) and earlier than 24:00 (New York City time) on any Business Day, (iii) the Business
Day following the date of mailing, if sent by nationally recognized overnight courier service, or
(iv) upon actual receipt by the party to whom such notice is required to be given.

 

12

 

10.7 GOVERNING LAW; VENUE; WAIVER OF JURY TRIAL. ALL QUESTIONS CONCERNING THE
CONSTRUCTION, VALIDITY, ENFORCEMENT AND INTERPRETATION OF THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF THE STATE
OF NEW YORK WITHOUT REGARD TO CONFLICTS OF LAW PRINCIPLES OTHER THAN SECTION 5-1401 AND
SECTION 5-1402 OF THE NEW YORK GENERAL OBLIGATION LAWS. EACH PARTY HEREBY IRREVOCABLY SUBMITS TO
THE EXCLUSIVE JURISDICTION OF (i) THE SUPREME COURT OF THE STATE OF NEW YORK, NEW YORK COUNTY, AND
(ii) THE UNITED STATES DISTRICT COURT FOR THE SOUTHERN DISTRICT OF NEW YORK FOR THE ADJUDICATION OF
ANY DISPUTE HEREUNDER OR IN CONNECTION HEREWITH OR WITH ANY TRANSACTION CONTEMPLATED HEREBY OR
DISCUSSED HEREIN (INCLUDING WITH RESPECT TO THE ENFORCEMENT OF ANY OF THE TRANSACTION DOCUMENTS),
AND HEREBY IRREVOCABLY WAIVES, AND AGREES NOT TO ASSERT IN ANY SUIT, ACTION OR PROCEEDING, ANY
CLAIM THAT IT IS NOT PERSONALLY SUBJECT TO THE JURISDICTION OF ANY SUCH COURT, OR THAT SUCH SUIT,
ACTION OR PROCEEDING IS IMPROPER. EACH PARTY HEREBY IRREVOCABLY WAIVES PERSONAL SERVICE OF PROCESS
AND CONSENTS TO PROCESS BEING SERVED IN ANY SUCH SUIT, ACTION OR PROCEEDING BY MAILING A COPY
THEREOF VIA REGISTERED OR CERTIFIED MAIL OR OVERNIGHT DELIVERY (WITH EVIDENCE OF DELIVERY) TO SUCH
PARTY AT THE ADDRESS IN EFFECT FOR NOTICES TO IT UNDER THIS AGREEMENT AND AGREES THAT SUCH SERVICE
SHALL CONSTITUTE GOOD AND SUFFICIENT SERVICE OF PROCESS AND NOTICE THEREOF. NOTHING CONTAINED
HEREIN SHALL BE DEEMED TO LIMIT IN ANY WAY ANY RIGHT TO SERVE PROCESS IN ANY MANNER PERMITTED BY
LAW. THE COMPANY AND THE HOLDER HEREBY WAIVE ALL RIGHTS TO A TRIAL BY JURY.

10.8 Headings. The headings herein are for convenience only, do not constitute a part
of this Note and shall not be deemed to limit or affect any of the provisions hereof.

10.9 Severability. In case any one or more of the provisions of this Agreement shall
be invalid or unenforceable in any respect, the validity and enforceability of the remaining terms
and provisions of this Note shall not in any way be affected or impaired thereby and the parties
will attempt in good faith to agree upon a valid and enforceable provision which shall be a
commercially reasonable substitute therefor, and upon so agreeing, shall incorporate such
substitute provision in this Agreement.

10.10 Counterparts. This Agreement may be executed in one or more counterparts, each
of which will be deemed an original, but all of which together will constitute a single instrument.

[Signature Page Follows]

 

13

 

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

	 	 	 	 	 
	 	Company

CATALYTIC SOLUTIONS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Purchaser

ARAN ASSET MANAGEMENT SA

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[Signature Page to Registration Rights Agreement]

 

 

 

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

	 	 	 	 	 
	 	Company

CATALYTIC SOLUTIONS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Purchaser

CYCAD GROUP, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[Signature Page to Registration Rights Agreement]

 

 

 

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

	 	 	 	 	 	 	 
	 	 	Company
	 
	 	 	 	 	 	 
	 	 	CATALYTIC SOLUTIONS, INC.

	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Purchaser
	 
	 	 	 	 	 	 
	 	 	EMERALD ENERGY FUND I LP
	 
	 	 	 	 	 	 
	 

	 	By:
	 	EEF I Management LP,	 	 
	 

	 	 	 	Its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	Emerald Partners I Ltd.,	 	 
	 

	 	 	 	Its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

[Signature Page to Registration Rights Agreement]

 

 

 

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

	 	 	 	 	 	 	 
	 	 	Company
	 
	 	 	 	 	 	 
	 	 	CATALYTIC SOLUTIONS, INC.
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Purchasers
	 
	 	 	 	 	 	 
	 	 	ENERTECH CAPITAL PARTNERS II L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	ECP II Management L.P.,	 	 
	 

	 	 	 	Its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	ECP II Management LLC,	 	 
	 

	 	 	 	Its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	ECP II INTERFUND L.P.
	 
	 	 	 	 	 	 
	 

	 	By:
	 	ECP II Management LLC,	 	 
	 

	 	 	 	Its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

[Signature Page to Registration Rights Agreement]

 

 

 

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

	 	 	 	 	 	 	 
	 	 	Company
	 
	 	 	 	 	 	 
	 	 	CATALYTIC SOLUTIONS, INC.
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Purchaser
	 
	 	 	 	 	 	 
	 	 	LANDOLT & CIE.
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

[Signature Page to Registration Rights Agreement]

 

 

 

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

	 	 	 	 	 	 	 
	 	 	Company
	 
	 	 	 	 	 	 
	 	 	CATALYTIC SOLUTIONS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 	 	Purchasers	 	 
	 
	 	 	 	 	 	 
	 	 	ROCKPORT CAPITAL PARTNERS, L.P.	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 
	 	RockPort Capital I, LLC,	 	 
	 

	 	 	 	Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 
	 
	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	RP CO-INVESTMENT FUND I, L.P. 	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 
	 	RP Co-Investment Fund I GP, LLC,	 	 
	 

	 	 	 	Its General Partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	 	 	Name:	 	 
	 

	 	 	 	Title:	 	 

[Signature Page to Registration Rights Agreement]

 

 

 

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

	 	 	 	 	 
	 	Company

CATALYTIC SOLUTIONS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	Purchaser

SEQUOIA AGGRESSIVE GROWTH FUND

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

[Signature Page to Registration Rights Agreement]

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