Document:

Certificate of Designation of the Series A-2 Preferred Stock

 Exhibit 4.4 
  
 CERTIFICATE OF DESIGNATION 
  
 OF SERIES A-2 CONVERTIBLE PREFERRED STOCK OF 
  
 OCCAM NETWORKS, INC. 
  

  
 Pursuant to Section 151 of the General 
 Corporation Law of the State of Delaware 
  

  
 I, Howard M. Bailey, do hereby certify:

  
 1. That I am the duly elected and acting Chief Financial
Officer and Secretary of Occam Networks, Inc., a Delaware corporation (the “Corporation”). 
  
 2. That pursuant to the authority conferred upon the Board of Directors by the Corporation’s Amended and Restated Certificate of Incorporation (the
“Certificate of Incorporation”), the Board of Directors of the Corporation formed a Special Committee of the Board of Directors which, on November 18, 2003, adopted the following resolution creating a series of 3,000,000 shares of
Preferred Stock designated as Series A-2 Convertible Preferred Stock as required by Section 151 of the General Corporation Law of the State of Delaware: 
  
 RESOLVED, that pursuant to the authority granted to and vested in the Special Committee of the Board of Directors of the Corporation in accordance
with the provisions of the Certificate of Incorporation, the Special Committee hereby creates a series of Preferred Stock of the Corporation, par value $0.001 per share, and hereby states the designation and number of shares and fixes the relative
rights, preferences, privileges, and limitations thereof, as follows: 
  
 1. Definitions. 
  
 (a) “Closing
Price” shall mean (A) if the Common Stock is then listed for trading on a national securities exchange or the Nasdaq National Market, the closing sales price for one share of Common Stock on a measurement date or (B) if the Common Stock is
actively traded over-the-counter, the average of the closing bid and ask prices for one share of the Corporation’s Common Stock on a measurement date. 
  
 (b) “Conversion Price” shall mean $0.11 (as adjusted in accordance with Section 6 below). 
  
 (c) “Series A-2 Liquidation Preference” shall mean an amount
equal to $15.00 per share of Series A-2 Preferred Stock (as adjusted for any stock split, stock dividend or distribution, recapitalization, or similar event with respect to the Series A-2 Preferred Stock) plus an amount equal to all declared but
unpaid dividends on each share of Series A-2 Preferred Stock. 
  
 (d) “Series A-2 Price” shall mean $10.00 (as adjusted for any stock split, stock dividend or distribution, or similar event with respect to the Series A-2 Preferred Stock). 

 (e) “Stockholder Approval” shall mean approval by the Corporation’s stockholders of
an amendment to the Certificate of Incorporation to increase the number of authorized shares of Common Stock such that, upon such approval, the Corporation would then have authorized and available for issuance a sufficient number of shares of Common
Stock to permit the conversion of all then outstanding shares of Series A-2 Preferred Stock into Common Stock at the Conversion Price and the exercise and/or conversion of all other options, warrants and convertible securities of the Corporation
(outstanding or reserved). 
  
 (f) “Stockholder Approval
Date” shall mean the first Trading Day after the date Stockholder Approval has been obtained. 
  
 (g) “Trading Day” shall mean a day on which the New York Stock Exchange is open for trading. 
  
 2. Designation and Amount. The shares of such series shall be
designated as “Series A-2 Convertible Preferred Stock” (the “Series A-2 Preferred Stock”) and the number of shares constituting Series A-2 Preferred Stock shall be 3,000,000. Such number of shares may be increased or
decreased by resolution of the Board of Directors; provided, however, that no such decrease shall reduce the number of shares of Series A-2 Preferred Stock to a number less than the number of shares then outstanding plus the number of
shares reserved for issuance upon the exercise of outstanding options, rights or warrants, or upon the conversion of any outstanding securities issued by the Corporation, that are exercisable for or convertible into shares of Series A-2 Preferred
Stock. 
  
 3. Dividends. No dividends shall accrue or be
payable in respect of the Series A-2 Preferred Stock; provided, however, in the event the Corporation shall pay any dividend on the Common Stock (other than a dividend payable solely in shares of Common Stock or other securities and
rights solely convertible into or entitling the holder thereof to receive, directly or indirectly, additional shares of Common Stock), the holders of Series A-2 Preferred Stock (as of the record date fixed for the determination of holders of Common
Stock entitled to receive such dividend) shall be entitled to receive an equivalent dividend based on the number of shares Common Stock then issuable upon conversion of the Series A-2 Preferred Stock pursuant to Section 6(a) below, which dividend
shall be paid to the holders of the Series A-2 Preferred Stock at the same time that the corresponding dividend is paid on the Common Stock. 
  
 4. Liquidation Preference. 
  
 (a) In the event of any liquidation, dissolution, or winding up of the Corporation (a “Liquidation”), either voluntary or involuntary,
distributions to the stockholders of the Corporation shall be made in the following manner: 
  
 (i) The holders of the Series A-2 Preferred Stock shall be entitled to receive for each share of Series A-2 Preferred Stock then held by them, prior and in preference to any distribution of any of the assets or
surplus funds of the Corporation to the holders of Common Stock, by reason of their ownership thereof, an amount equal to the Series A-2 Liquidation Preference. If, upon occurrence of such event, the assets and funds distributed among the holders of
the Series A-2 Preferred Stock are insufficient to permit the payment to such holders of the full 

  

 -2- 

 
Series A-2 Liquidation Preference, then the entire assets and funds of the Corporation legally available for distribution shall be distributed pro rata among
the holders of the Series A-2 Preferred Stock based on the number of shares of Series A-2 Preferred Stock held by each such holder. 
  
 (ii) After giving effect to the provisions of Section 4(a)(i), all of the remaining assets of the Corporation shall be distributed among the holders of
Common Stock and Series A-2 Preferred Stock pro-rata based on the number of shares of Common Stock held by each such holder (assuming conversion into Common Stock of all outstanding Series A-2 Preferred Stock) until the holders of Series A-2
Preferred Stock shall have received $30.00 per share of Series A-2 Preferred Stock (as adjusted for any stock split, stock dividend or distribution, recapitalization, or similar event with respect to the Series A-2 Preferred Stock) then held by
them; thereafter if assets of the Corporation remain, the holders of the Common Stock of the Corporation shall receive all of the remaining assets of the Corporation pro rata based on the number of shares of Common Stock held by each. 
  
 (iii) Notwithstanding the above, for purposes of determining the amount each
holder of shares of Series A-2 Preferred Stock is entitled to receive with respect to a Liquidation, each such holder of shares of Series A-2 Preferred Stock shall be deemed to have converted (regardless of whether such holder actually converted or
whether there are sufficient shares of authorized Common Stock to permit the actual conversion of all shares of Series A-2 Preferred Stock into Common Stock) such holder’s shares of such series into shares of Common Stock immediately prior to
the Liquidation if, as a result of an actual conversion, such holder would receive, in the aggregate, an amount greater than the amount that would be distributed to such holder if such holder did not convert such shares of Series A-2 Preferred Stock
into shares of Common Stock. If any such holder shall be deemed to have converted shares of Series A-2 Preferred Stock into Common Stock pursuant to this paragraph, then such holder shall not be entitled to receive any distribution that would
otherwise be made to holders of Series A-2 Preferred Stock that have not converted (or have not been deemed to have converted) into shares of Common Stock. 
  
 (iv) In connection with any distribution upon a Liquidation hereunder, distributions to holders of Common Stock and Series A-2 Preferred Stock shall
consist of equivalent forms of consideration, and in the event such form of consideration consists of cash and consideration other than cash, the proportion of cash and non-cash consideration shall be equivalent with respect to distributions to
holders of Common Stock and Series A-2 Preferred Stock. 
  
 (b)
For purposes of this Section 4, either of the following shall be treated as a Liquidation: (i) a reorganization, consolidation, merger or similar transaction of the Corporation with or into any other entity or entities (but excluding any merger
effected solely for purposes of reincorporating the Corporation in another jurisdiction), or the merger or other similar transaction of any other entity or entities into the Corporation (including such a transaction with an existing stockholder of
the Corporation), in which the stockholders of the Corporation, immediately prior to such merger or other transaction hold in the aggregate and on a substantially pro rata basis, immediately after such merger or other transaction, less than a
majority of the outstanding voting securities of the surviving or successor corporation or its parent or (ii) a sale of all or substantially all of the assets of the Corporation. The vote or written consent of the holders of at least two-thirds of
the outstanding shares of Series A-2 Preferred Stock may waive the treatment as a Liquidation for purposes of this Section 4 of any event or transaction that would otherwise constitute a Liquidation. 
  

 -3- 

 (c) If any assets of the Corporation distributed to stockholders in connection with a Liquidation of the
Corporation are other than cash, then the value of such assets shall be their fair market value as reasonably determined in good faith by the Board of Directors, except that any publicly-traded securities to be distributed to stockholders in a
Liquidation of the Corporation shall be valued as follows: 
  
 (i) If the securities are then traded on a national securities exchange or the Nasdaq Stock Market (or a similar national quotation system), then the value of the securities shall be deemed to be to the average of the closing prices of the
securities on such exchange or system over the ten trading day period ending five trading days prior to the distribution; 
  
 (ii) if the securities are actively traded over-the-counter, then the value of the securities shall be deemed to be the average of the closing bid prices
of the securities over the ten trading day period ending five trading days prior to the distribution. 
  
 (iii) if there is no public market, the value shall be the fair market value thereof, as determined in good faith by the Board. 
  
 In the event of a merger or other acquisition of the Corporation by another
entity, the date of the distribution shall be deemed to be the date such transaction closes. 
  
 5. Redemption. The Corporation shall not have the right to call or redeem at any time any shares of Series A-2 Preferred Stock. 
  
 6. Conversion. 
  
 (a) Right to Convert. Subject to Section 6(b) below, each share of Series A-2 Preferred Stock shall be convertible, at the option of the holder
thereof, at any time after the Stockholder Approval Date at the office of the Corporation or any transfer agent for the Series A-2 Preferred Stock, into such number of fully paid and nonassessable shares of Common Stock as is determined by dividing
the Series A-2 Price by the then-effective Conversion Price (the “Conversion Rate”) 
  
 (b) Automatic Conversion. Each outstanding share of Series A-2 Preferred Stock shall be automatically converted into shares of Common Stock at the
then-effective Conversion Rate upon the written consent of holders of not less than 66 2/3% of the
then-outstanding Series A-2 Preferred Stock. 
  
 (c)
Mechanics of Conversion. No fractional shares of Common Stock shall be issued upon conversion of Series A-2 Preferred Stock. In lieu of any fractional share to which a holder would otherwise be entitled, the Corporation shall (after
aggregating all shares held by such holder) pay cash equal to such fraction (rounded to the nearest second decimal) multiplied by the average of all Closing Prices over the ten Trading Days immediately prior to (but not including) the effective date
of conversion (determined as set forth herein). Before any holder of Series A-2 Preferred Stock shall be entitled to convert the same into full shares of Common Stock and to receive certificates therefor, he shall surrender the certificate or
certificates therefor, duly endorsed, at the office of the Corporation or of any transfer agent for the Series A-2 Preferred, and shall give written notice to the Corporation at such office that he elects to convert the same; provided,

  

 -4- 

 
however, that in the event of an automatic conversion pursuant to Section 6(b), the outstanding shares of Series A-2 Preferred shall be converted
automatically without any further action by the holders of such shares and whether or not the certificates representing such shares are surrendered to the Corporation or its transfer agent, and provided further that the Corporation shall not be
obligated to issue certificates evidencing the shares of Common Stock issuable upon such automatic conversion unless the certificates evidencing such shares of Series A-2 Preferred are either delivered to the Corporation or its transfer agent as
provided above, or the holder notifies the Corporation or its transfer agent that such certificates have been lost, stolen, or destroyed and executes an agreement satisfactory to the Corporation to indemnify the Corporation (which may include a
requirement of bond) from any loss incurred by it in connection with such certificates. The Corporation shall, as soon as practicable after such delivery, or such agreement and indemnification in the case of a lost certificate, issue and deliver at
such office to such holder of Series A-2 Preferred, a certificate or certificates for the number of shares of Common Stock to which he shall be entitled as aforesaid and a check payable to the holder in the amount of any cash amounts payable as the
result of a conversion into fractional shares of Common Stock. Any elective conversion pursuant to Section 6(a) shall be deemed to be effective immediately prior to the close of business on the date of surrender of the certificate(s) representing
the shares of Series A-2 Preferred Stock to be converted together with the written notice electing the conversion thereof. Any automatic conversion pursuant to Section 6(b) shall be deemed to be effective immediately prior to the close of business
on the date the requisite written consent described in Section 6(b) has been executed and delivered to the Corporation. 
  
 (d) Adjustments to Conversion Price for Diluting Issues. 
  

(i) Special Definitions. For purposes of this Section 6(d), the following definitions shall apply: 
  
 (1) “Options” shall mean rights, options or warrants to
subscribe for, purchase or otherwise acquire either Common Stock or Convertible Securities. 
  
 (2) “Original Issue Date” shall mean the date on which the first share of Series A-2 Preferred Stock was first issued. 
  
 (3) “Convertible Securities” shall mean any securities of the Corporation (other than Common Stock)
convertible into or exchangeable for Common Stock. 
  
 (4)
“Additional Shares of Common Stock” shall mean all shares of Common Stock issued (or pursuant to Section 6(d)(iii), deemed to be issued) by the Corporation after the Original Issue Date; provided, however, that
“Additional Shares of Common Stock” shall not mean shares of Common Stock issued, issuable or, pursuant to Section 6(d)(iii), deemed to be issued: 
  
 (a) upon conversion of the Series A-2 Preferred Stock authorized herein or upon conversion of Convertible Securities, provided that such Convertible
Securities shall be deemed to be Additional Shares of Common Stock; 
  

 -5- 

 (b) to employees, directors, consultants and other service providers for the primary purpose of
soliciting or retaining their services pursuant to plans or agreements approved by the Corporation’s Board of Directors; 
  
 (c) as a dividend or distribution on the Series A-2 Preferred Stock; 
  
 (d) to customers, commercial partners (including technology partners, marketing partners, or distribution partners), and
vendors of the Company on terms approved by the Board of Directors, provided that any securities so issued shall be deemed to be Additional Shares of Common Stock in the event their value, in any single transaction and as determined in good faith by
the Board of Directors, exceeds $1,000,000; 
  
 (e) to banks,
commercial lenders, equipment lessors, and other financial institutions in connection with commercial leasing or debt financing transactions, the terms of which are approved by the Board of Directors, provided that any securities so issued shall be
deemed to be Additional Shares of Common Stock in the event their value, in any single transaction and as determined in good faith by the Board of Directors, exceeds $1,000,000; 
  
 (f) in connection with or pursuant to the acquisition by the Corporation of another corporation or business, whether by
merger, asset purchase, consolidation, reorganization, or similar transaction, on terms approved by the Board of Directors, provided that any securities so issued shall be deemed to be Additional Shares of Common Stock in the event their value, in
any single transaction and as determined in good faith by the Board of Directors, exceeds $1,000,000; 
  
 (g) in connection with a firm commitment underwritten public offering pursuant to a registration statement filed with the U.S. Securities and Exchange
Commission; and 
  
 (h) in connection with any transaction for
which adjustment is made pursuant to Sections 6(e) hereof. 
  
 (ii) Adjustment of Conversion Price. In the event the Corporation shall issue Additional Shares of Common Stock without consideration or for a consideration per share less than the Series A-2 Conversion Price in effect on the date of
and immediately prior to such issuance (a “Dilutive Event”), then and in such event, the then-effective Series A-2 Conversion Price shall be adjusted as follows: 
  
 (A) in the case of a Dilutive Event occurring on or before the date six months after the Original Issue Date (the
“Six Month Anniversary Date”), the Series A-2 Conversion Price shall be reduced, concurrently with such Dilutive Event, to a price (calculated to the nearest cent) equal to the consideration per share for which such Additional
Shares of Common Stock are so issued; and 
  
 (B) in the case of
a Dilutive Event occurring after the Six Month Anniversary Date, the Series A-2 Conversion Price shall be reduced, concurrently with such Dilutive Event, to a price (calculated to the nearest cent) determined by multiplying the Series A-2 

  

 -6- 

 
Conversion Price then in effect by a fraction, the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such
issuance plus the number of shares of Common Stock which the aggregate consideration received by the Company for the total number of Additional Shares of Common Stock so issued would purchase at such Series A-2 Conversion Price; and the denominator
of which shall be the number of shares of Common Stock outstanding immediately prior to such issuance plus the number of Additional Shares of Common Stock so issued; provided, however, that for purposes of this Section 6(d)(ii)(B), all
shares of Common Stock issued or issuable upon conversion of the then-outstanding Series A-2 Preferred Stock, conversion of other then outstanding Convertible Securities, and upon exercise of then-outstanding Options with an exercise price of $0.25
or less shall be deemed to be outstanding. 
  
 (C) In the event
that the Company issues or sells, or is deemed to have issued or sold, Additional Shares of Common Stock in a Dilutive Event (the “First Dilutive Event”), then in the event that the Company issues or sells, or is deemed to have
issued or sold, Additional Shares of Common Stock in a Dilutive Event other than the First Dilutive Event as a part of the same transaction or series of related transactions as the First Dilutive Event (a “Subsequent Dilutive
Event”), then and in each such case upon a Subsequent Dilutive Event the Series A-2 Conversion Price shall be adjusted to the Series A-2 Conversion Price that would have been in effect had the First Dilutive Event and each Subsequent
Dilutive Event all occurred on the closing date of the First Dilutive Event. 
  
 (iii) Determination of Consideration. For purposes of this Section 6(d), the consideration received by the Company for the issue or sale of any Additional Shares of Common Stock shall be computed as follows:

  
 (A) Cash and Property: Such consideration shall:

  
 (1) insofar as it consists of cash, be computed at the
aggregate amount of cash received by the Company without any deduction for commissions and excluding amounts paid or payable for accrued interest or accrued dividends; 
  
 (2) insofar as it consists of property other than cash, be computed at the fair value thereof at the time of such issue, as
determined in good faith by the Board; and 
  
 (3) in the event
Additional Shares of Common Stock are issued together with other shares or securities or other assets of the Company for consideration which covers both, be the proportion of such consideration so received, computed as provided in clauses (1) and
(2) above, as determined in good faith by the Board. 
  
 (B)
Options and Convertible Securities. In the case of issuance of Options or Convertible Securities, the following provisions shall apply for all purposes of Section 6(d): 
  
 (1) The aggregate maximum number of shares of Common Stock deliverable upon exercise of such Options shall be deemed to be
Additional Shares of Common Stock issued at the time such Options were issued and for a consideration equal to the 

  

 -7- 

 
consideration (determined in the manner provided in subparagraph 6(d)(iii)(A)), if any, received by the Company upon the issuance of such Options plus the
exercise price provided in such Options for the Common Stock covered thereby. 
  
 (2) The aggregate maximum number of shares of Common Stock deliverable upon conversion of or in exchange for such Convertible Securities or upon the exercise or conversion of any Convertible Securities issued upon
exercise or conversion of such Convertible Securities shall be deemed to be Additional Shares of Common Stock issued at the time such Convertible Securities were issued and for a consideration equal to the consideration, if any, received by the
Company for any such Convertible Securities plus the additional consideration, if any, to be received by the Company upon the conversion or exchange of such securities or the exercise of any Convertible Securities (the consideration in each case to
be determined in the manner provided in subparagraph 6(d)(iii)(A)). 
  
 (3) In the event of any change in the number of shares of Common Stock deliverable or in the consideration payable to the Company upon exercise or conversion of such Options or Convertible Securities, including, but not limited to, a change
resulting from the antidilution provisions thereof, the Series A-2 Conversion Price, to the extent in any way affected by or computed using such Options or Convertible Securities, shall be recomputed to reflect such change, but no further adjustment
shall be made for the actual issuance of Common Stock or any payment of such consideration upon the exercise of any such Options or Convertible Securities. 
  
 (4) Upon the expiration or termination of any such Options or Convertible Securities, the Series A-2 Conversion Price to the extent in any way affected
by or computed using such Options or Convertible Securities, shall be recomputed to reflect the issuance of only the number of shares of Common Stock (and Options and Convertible Securities which remain in effect) actually issued upon the conversion
or exchange of such securities or upon the exercise of the Options (but without affecting shares of Common Stock already issued upon conversion of any shares of Preferred already converted). 
  
 (5) The number of shares of Common Stock deemed issued and the consideration
deemed paid therefor pursuant to subparagraphs 6(d)(iii)(B)(1) and (2) shall be appropriately adjusted to reflect any change, termination or expiration of the type described in either subparagraph 6(d)(iii)(B)(3) or (4). 
  
 (e) Other Adjustments to Conversion Price 
  
 (i) Adjustments for Subdivisions or Combinations of or Stock Dividends on
Common Stock. In the event the outstanding shares of Common Stock shall be subdivided (by stock split or otherwise) at any time after the filing of this Certificate of Designation of Series A-2 Preferred Stock, into a greater number of shares of
Common Stock, or the Corporation shall at any time or from time to time after the date of such filing, declare or pay any dividend on the Common Stock payable in shares of Common Stock, the Series A-2 Conversion Price then in effect shall,
concurrently with the effectiveness of such subdivision or stock dividend, be proportionately decreased based on the ratio of (A) the number of shares of Common Stock outstanding immediately after such subdivision or stock dividend to (B) the number
of shares of Common Stock outstanding 
  

 -8- 

 
immediately prior to such subdivision or stock dividend. In the event the outstanding shares of Common Stock shall be combined or consolidated, by
reclassification or otherwise, into a lesser number of shares of Common Stock, the Series A-2 Conversion Price then in effect shall, concurrently with the effectiveness of such combination or consolidation, be proportionately increased based on the
same basis. 
  
 (ii) Adjustments for Other Distributions.
In the event the Corporation at any time or from time to time after the filing of this Certificate of Designation of Series A-2 Preferred Stock, makes, or fixes a record date for the determination of holders of Common Stock entitled to receive, any
distribution payable in (A) securities of the Corporation or other entities (other than shares of Common Stock and other than as otherwise adjusted in this Section 6 or as otherwise provided in Section 3), (B) evidences of indebtedness issued by the
Corporation or other persons, or (C) assets (excluding cash dividends) or options or rights not referred to in subparagraph 6(d)(iii)(B), then and in each such event provision shall be made so that the holders of Series A-2 Preferred Stock shall
receive upon conversion thereof, in addition to the number of shares of Common Stock receivable thereupon, the amount of such distribution which they would have received had their Series A-2 Preferred Stock been converted into Common Stock on the
date of such event and had they thereafter, during the period from the date of such event to and including the date of conversion, retained such securities receivable by them as aforesaid during such period, subject to all other adjustments called
for during such period under this Section 6 with respect to the rights of the holders of the Series A-2 Preferred Stock. 
  
 (iii) Adjustments for Recapitalization, Reclassification, Exchange and Substitution. If at any time or from time to time after the filing of this
Certificate of Designation of Series A-2 Preferred Stock, the Common Stock issuable upon conversion of the Series A-2 Preferred Stock shall be changed into the same or a different number of shares of any other class or classes of stock, whether by
recapitalization, capital reorganization, reclassification or otherwise (other than a subdivision, combination of shares or merger or sale of assets transaction provided for above or in Section 6(b)), the Series A-2 Conversion Price then in effect
shall, concurrently with the effectiveness of such recapitalization, reorganization or reclassification, be proportionately adjusted such that the Series A-2 Preferred Stock shall be convertible into, in lieu of the number of shares of Common Stock
which the holders thereof would otherwise have been entitled to receive, a number of shares of such other class or classes of stock equivalent to the number of shares of Common Stock that would have been subject to receipt by the holders upon
conversion of Series A-2 Preferred Stock immediately before that change. In addition, to the extent applicable in any reorganization or recapitalization, provision shall be made so that the holders of the Series A-2 Preferred Stock shall thereafter
be entitled to receive upon conversion of the Series A-2 Preferred Stock the number of shares of stock or other securities or property of the Corporation or otherwise, to which a holder of Common Stock deliverable upon conversion would have been
entitled on such reorganization or recapitalization. 
  
 (f) No
Impairment. Except as authorized by the affirmative vote or written consent of the holders of not less than a majority of the then outstanding shares of the Series A-2 Preferred Stock, the Corporation will not, by amendment of the Certificate of
Incorporation or through any reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed
or performed hereunder by the Corporation, but will at all times in good 

  

 -9- 

 
faith assist in the carrying out of all the provisions of this Section 6 and in the taking of all such action as may be necessary or appropriate in order to
protect the conversion rights of the holders of Series A-2 Preferred Stock. 
  
 (g) Certificate as to Adjustments. Upon the occurrence of each adjustment or readjustment of the Conversion Price pursuant to this Section 6, the Corporation at its expense shall promptly compute such
adjustment or readjustment in accordance with the terms hereof and furnish to each holder of Series A-2 Preferred Stock a certificate setting forth such adjustment or readjustment and showing in detail the facts upon which such adjustment or
readjustment is based. The Corporation shall, upon the written request at any time of any holder of Series A-2 Preferred Stock, furnish or cause to be furnished to such holder a like certificate setting forth (i) such adjustments and readjustments,
(ii) the respective Conversion Price at the time in effect, and (iii) the number of shares of Common Stock and the amount, if any, of other property which at the time would be received upon the conversion of the Series A-2 Preferred Stock.

  
 7. Voting Rights. Except as otherwise required by law,
the holders of Series A-2 Preferred Stock shall be entitled to notice of any stockholders’ meeting and to vote together with the holders of Common Stock as a single class upon any matter submitted to the stockholders for a vote. Each holder of
Series A-2 Preferred Stock shall have one vote for each full share of Common Stock into which the Series A-2 Preferred Stock would be convertible pursuant to Section 6(a) hereof as of the record date fixed for the determination of the holders of
Common Stock of the Corporation entitled to such vote (assuming the Stockholder Approval Date has occurred). 
  
 8. Reacquired Shares. Any shares of Series A-2 Preferred Stock purchased or otherwise acquired by the Corporation in any manner whatsoever shall be
retired and cancelled promptly after the acquisition thereof. All such shares shall upon their cancellation become authorized but unissued shares of preferred stock of the Corporation and may be reissued as part of a new series of preferred stock
subject to the conditions and restrictions on issuance set forth herein, in the Certificate of Incorporation, or in any other Certificate of Designation creating a series of preferred stock of the Corporation or any similar stock or as otherwise
required by applicable law. 
  
 9. Residual Rights. All
rights accruing to the outstanding shares of the Corporation not expressly provided for to the contrary herein shall be vested in the Common Stock. 
  
  

 -10- 

 IN WITNESS WHEREOF, Occam Networks, Inc. has caused this Certificate of Designation to be executed by
Howard M. Bailey, its Secretary and Chief Financial Officer, this 19th day of November, 2003. 
  

	 OCCAM NETWORKS, INC.

	
	 /s/ Howard M. Bailey

	 Howard M. Bailey

  

 [Signature Page to Certificate of Designation of Series A-2 Convertible Preferred Stock of Occam
Networks, Inc.]First Amended and Restated Investors' Rights Agreement 11/19/2003

 Exhibit 4.5 
  
 OCCAM NETWORKS, INC. 
  
 FIRST AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT 
  
 This First Amended and Restated Investors’ Rights Agreement (this “Agreement”) is made and entered
into as of November 19, 2003 by and among Occam Networks, Inc., a Delaware corporation (the “Company”), and the undersigned purchasers of the Company’s Series A Preferred Stock (as defined herein) originally issued pursuant to
the Series A Preferred Stock Purchase Agreement dated as of December 19, 2002 (the “2002 Purchase Agreement”) and shares of the Company’s Series A-2 Preferred Stock (as defined herein) issued pursuant to the Series A-2
Preferred Stock Purchase Agreement (the “2003 Purchase Agreement”) of even date herewith (the “Investors”). This Agreement amends and restates in its entirety the Investors’ Rights Agreement dated as of
December 19, 2002 (the “Prior Agreement”) in accordance with Section 19(e) thereof and shall become effective at such time as it has been executed and delivered by the Company and the requisite Investors (as constituted pursuant to
the Prior Agreement) specified in such Section 21(e). 
  
 Recitals 
  
 WHEREAS, certain of the Investors
propose to purchase, and the Company proposes to issue and sell to such Investors, shares of Series A-2 Preferred in accordance with the 2003 Purchase Agreement; 
  
 WHEREAS, the Company and the Investors as then constituted entered the Prior Agreement in connection with the sale and
issuance of the Series A Preferred pursuant to the 2002 Purchase Agreement, such shares of Series A Preferred have since converted into shares of Common Stock (as defined herein), and the Prior Agreement remains in effect with respect to such
Investors and the Common Stock issued upon conversion of the Series A Preferred; 
  
 WHEREAS, as an inducement to the Investors purchasing shares of Series A-2 Preferred pursuant to the 2003 Purchase Agreement, the Company has agreed to grant the Investors certain rights as set forth in this
Agreement. 
  
 NOW THEREFORE, in consideration of the
mutual promises and covenants hereinafter set forth, the Investors and the Company agree that the Prior Agreement is hereby amended and restated, and replaced in its entirety, as follows: 
  
 1. Definitions. As used in this Agreement: 
  
 (a) “Common Stock” shall mean the Company’s common
stock, par value $0.001 per share. 
  
 (b)
“Closing” shall mean the date of the initial sale of shares of Series A-2 Preferred pursuant to the 2003 Purchase Agreement. 

 (c) “Exchange Act” shall mean the United States Securities Exchange Act of 1934, as
amended. 
  
 (d) “Holder” shall mean (i) an
Investor or (ii) a transferee to whom registration rights granted under this Agreement are assigned in accordance with this Agreement. 
  
 (e) “New Securities” shall mean any capital stock (including Common Stock and/or Preferred Stock) of the Company whether now authorized
or not, and rights, options or warrants to purchase such capital stock, and securities of any type whatsoever that are, or may become, convertible into such capital stock and that are issued after the Closing, provided, however, that
“New Securities” shall in no event be deemed to include: (i) any shares of capital stock, including any rights, options, or warrants to purchase shares of capital stock, that have been subject to the rights contained in Section 12 of this
Agreement where such rights have either been exercised or waived or have expired in accordance with this Agreement; (ii) any securities issued pursuant to the 2003 Purchase Agreement; (iii) rights to acquire shares of Series A-2 Preferred offered
pursuant to the Rights Offering and any shares of Series A-2 Preferred sold and issued in accordance therewith; (iv) any shares of the Company’s capital stock issued or issuable upon conversion of the Series A-2 Preferred or any other right,
option, or warrant outstanding as of the date of this Agreement (provided such other right, option, or warrant is described in Section 3.3 of the 2003 Purchase Agreement) to acquire shares of the Company’s capital stock; (v) securities issued
by the Company in one or more transactions where the securities issued in the transaction or transactions have been unanimously approved by directors present at a properly noticed meeting of the board of directors or unanimously approved by a
written consent of the directors as securities that should not be deemed to be “New Securities”; (vi) securities offered to the public by the Company pursuant to a registration statement filed under the Securities Act; (vii) securities
issued to customers, commercial partners (including technology partners, marketing partners or distribution partners), vendors, lenders, and equipment lessors of the Company, other than in a transaction whose principal purpose is to raise additional
working capital for the Company, provided that such issuance is unanimously approved by directors present at a properly noticed meeting of the board of directors or unanimously approved by a written consent of the directors; (viii) securities issued
in connection with the Company’s acquisition of any business, product, or technology by way of merger, asset purchase, reorganization, or other means, provided that such issuance is unanimously approved by directors present at a properly
noticed meeting of the board of directors or unanimously approved by a written consent of the directors; (ix) shares of Common Stock (or options, warrants or rights therefor) granted or issued hereafter to employees, officers, directors,
contractors, consultants or advisers to, the Company or any subsidiary pursuant to incentive agreements, stock purchase or stock option plans, stock bonuses or awards, warrants, contracts or other arrangements that are approved by the Company’s
board of directors or by the compensation committee of the board of directors; and (x) securities issued in connection with any proportionate stock split, stock dividend or distribution, recapitalization, or similar event by the Company. 

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

  

 -2- 

 (g) “Registration Expenses” shall mean all expenses incurred in effecting any
registration pursuant to this Agreement, including, without limitation, all registration, qualification, and filing fees, printing expenses, escrow fees, fees and disbursements of counsel for the Company, blue sky fees and expenses, expenses of any
regular or special audits incident to or required by any such registration, and the reasonable fees and disbursements of one special counsel for the Holders. 
  
 (h) “Registrable Securities” shall mean for each Holder, (i) shares of Common Stock of the Company issued to such Holder upon conversion
of the Series A Preferred; (ii) shares of Common Stock of the Company issued or issuable to such Holder upon conversion of the Series A-2 Preferred; and (iii) any Common Stock issued as a dividend or other distribution with respect to or in exchange
for or in replacement of the shares referenced in (i) or (ii) above; provided, however, that such shares of Common Stock shall cease to be Registrable Securities at such time as (i) they have been registered for resale pursuant to a
prospectus included in the effective registration statement contemplated pursuant to Section 2 hereof, which registration statement has been effective for the periods specified in Section 2(b) and 2(c), or (ii) they are otherwise available for
resale under Rule 144 of the Securities Act within a single 90 day period. 
  
 (i) “Rights Offering” shall mean the offer, sale, and/or issuance of rights to purchase shares of Series A-2 Preferred to stockholders of the Company pursuant to a registration statement filed with
and declared effective by the SEC, as contemplated by Section 2.1(f) of the 2003 Purchase Agreement, such Rights Offering to be effected after the Closing on terms and conditions to be approved by the Company’s Board of Directors. 

 
 (j) “SEC” shall mean the United States Securities and
Exchange Commission. 
  
 (k) “Securities Act”
shall mean the United States Securities Act of 1933, as amended. 
  
 (l) “Series A Preferred Stock” or “Series A Preferred” shall mean the Series A Convertible Preferred Stock of the Company, par value $0.001 per share, issued pursuant to the 2002 Purchase Agreement, which
Series A Preferred is no longer outstanding and of which no shares of authorized Preferred Stock of the Company are currently designated. 
  
 (m) “Series A-2 Preferred Stock” or “Series A-2 Preferred” shall mean the Series A-2 Convertible Preferred Stock of the
Company, par value $0.001 per share. 
  
 (n) “Selling
Expenses” shall mean all underwriting discounts, selling commissions and stock transfer taxes applicable to the sale of Registrable Securities. 
  
 (o) “Significant Holder” shall mean a Holder who holds at least at least 100,000 shares of Series A-2 Preferred (subject to adjustments
for stock splits, stock dividends, reverse stock splits and the like), or at least such number of shares of Common Stock as were issued upon conversion of 100,000 shares of Series A-2 Preferred Stock (each subject to adjustments for stock splits,
stock dividends, reverse stock splits and the like). 
  

 -3- 

 2. Holder Registration. 
  
 (a) If at any time after the first anniversary of the Closing, the Company shall receive from any Holder or Holders who in
the aggregate hold not less than 50% of the outstanding Registrable Securities a written request that the Company effect any registration for the Registrable Securities, the Company will use commercially reasonable efforts to cause the Registrable
Securities held by the Holders to be registered under the Securities Act so as to permit the resale thereof, and in connection therewith shall prepare and file with the SEC within 60 days of its receipt of such request a registration statement on
such form as may then be available to effect the registration of the Registrable Securities. The offering made pursuant to such registration shall not be underwritten. 
  
 (b) The Company shall (i) prepare and file with the SEC the registration statement in accordance with Section 2 hereof with
respect to the Registrable Securities and shall use commercially reasonable efforts to cause such registration statement to become effective as promptly as practicable after filing and to keep such registration statement effective until the sooner
to occur of (A) the date on which all Registrable Securities included within such registration statement have been sold; (B) the date on which Holders of all Registrable Securities are able to sell such Registrable Securities immediately without
restriction pursuant to the volume limitation provisions of Rule 144 under the Securities Act within a single 90 day period, provided, however, that the Company shall provide each Holder with 10 trading days’ notice before
rescinding the effectiveness of such registration statement pursuant to this subparagraph 2(b)(i)(B); or (C) two years following the effective date of the registration statement; (ii) prepare and file with the SEC such amendments to such
registration statement and amendments or supplements to the prospectus used in connection therewith as may be necessary to comply with the provisions of the Securities Act with respect to the sale or other disposition of all Registrable Securities
to be registered by such registration statement; (iii) furnish to each Holder such number of copies of any prospectus (including any amended or supplemented prospectus) in conformity with the requirements of the Securities Act, and such other
documents, as such Holder may reasonably request in order to effect the offering and sale of the Registrable Securities to be offered and sold, but only while the Company shall be required under the provisions hereof to cause the registration
statement to remain effective; (iv) use commercially reasonable efforts to register or qualify the Registrable Securities covered by such registration statement under the securities or blue sky laws of such jurisdictions as each Holder shall
reasonably request (provided that the Company shall not be required in connection therewith or as a condition thereto to qualify to do business or to file a general consent to service of process in any such jurisdiction where it has not been
qualified), and do any and all other acts or things which may be necessary or advisable to enable each Holder to consummate the public sale or other disposition of such Registrable Securities in such jurisdictions; and (v) notify each Holder,
promptly after it shall receive notice thereof, of the date and time the registration statement and each post-effective amendment thereto has become effective or a supplement to any prospectus forming a part of such registration statement has been
filed; provided, further, that the Company shall not be obligated to take any action to effect any such registration, qualification or compliance pursuant to this Section 2 after the Company has effected one such registration pursuant to this
Section 2 and such registration has been declared or ordered effective. 
  

 -4- 

 (c) Notwithstanding subsection (b) above, if upon a termination of the effectiveness of the registration
statement pursuant to Section 2(b), any Holder(s) would not otherwise be able to sell all Registrable Securities then held by such Holder within a single 90-day period under Rule 144, the Company shall take such actions as may be necessary, whether
by filing a new registration statement or amending an existing registration statement, extend the effectiveness of such registration statement and keep such registration statement effective until such time as all such shares may be sold by such
Holder under Rule 144 within a single 90-day period. 
  
 3.
Piggyback Registration. 
  
 (a) The Company may from time
to time determine to register for sale shares of Common Stock for its own account, other than (i) a registration relating solely to employee benefit plans or (ii) a registration relating solely to a transaction pursuant to Rule 145 promulgated under
the Securities Act, and in connection with such determination, shall file with the SEC a registration statement to register such Common Stock (a “Registered Sale”). In the event of such determination, the Company will give to each
Holder written notice thereof at least 20 days (but not more than 60 days) prior to the filing of such registration statement, and will include in the Registered Sale (and any related qualification under blue sky laws or other related compliance)
all the Registrable Securities specified by the Holders in their written request or requests to the Company, made within 15 days after receipt of such written notice from the Company, subject, however, to the marketing limitation set forth in
subsection (b) below. If the registration statement under which the Company gives notice under this subsection (a) is for an underwritten offering, the Company shall so advise the Holders. A Registered Sale, including (if applicable) the form of
underwriting agreement to be entered into by the Company, the underwriter(s) and any selling stockholders, shall be on customary terms. The underwriter(s) for an underwritten offering shall be selected by the Company in its sole discretion.

  
 (b) The right of any Holder to registration pursuant to this
section shall be conditioned upon such Holder’s participation in the Registered Sale and the inclusion of Registrable Securities in the Registered Sale to the extent provided herein. All Holders shall (together with the Company and the other
holders distributing their securities through the Registered Sale) enter into an underwriting agreement in customary form with the managing underwriter. Notwithstanding any other provision of this section, if the managing underwriter determines that
marketing factors require a limitation of the number of shares to be underwritten, the managing underwriter may limit the Registrable Securities to be included in such registration and underwriting; provided, however, that (i) all
shares that are not Registrable Securities and are held by other selling stockholders, including, without limitation, persons who are employees or directors of the Company (or any subsidiary of the Company), shall first be excluded from such
registration and underwriting before any Registrable Securities are so excluded (ii) all securities requested to be included by the Holders shall share pro rata in the number of shares to be excluded from such registration, such sharing to be based
on the respective numbers of shares owned by each stockholder and (iii) any such limitation shall not prevent the Holders of Registrable Securities requesting to be included in such registration from including Registrable Securities representing up
to 30% of the total number of shares registered thereby. In such event, the Company shall so advise all Holders of Registrable Securities which would otherwise be registered pursuant hereto, and the number of shares of Registrable Securities that
may be included in the registration shall be allocated among the Holders in proportion, as nearly 

  

 -5- 

 
as practicable, to the respective amounts of Registrable Securities requested to be included by such Holders in accordance with subsection (a) above. To
facilitate the allocation of shares in accordance with the above provision, the Company or the underwriters may round the number of shares allocated to any Holder to the nearest 100 shares. If any Holder disapproves of the terms of the Registered
Sale, he or she may elect to withdraw therefrom by written notice to the Company and the managing underwriter. If a Holder decides not to include all of its Registrable Securities in any registration statement filed by the Company, such Holder shall
nevertheless continue to have the right to include any Registrable Securities in any subsequent registration statement as may be filed by the Company, all upon the terms hereof. 
  
 (c) Termination of Piggyback Rights. Notwithstanding any other provision of this Agreement, the Company’s
obligations pursuant to this Section 3 shall terminate at such time as it has effected two (2) registrations in accordance herewith. 
  
 4. Right to Terminate Registration. The Company shall have the right to terminate or withdraw any registration initiated by it under Section 3
prior to the effectiveness of the registration whether or not any Holder has elected to include securities in such registration. 
  
 5. Notice to the Company; Suspension of Prospectus. Each Holder shall provide the compliance officer designated by the Company with written notice
at least two business days prior to any transfer, sale or other disposition of Registrable Securities under any registration statement filed pursuant to Section 2 of this Agreement (a “Requesting Holder”). The Company may by written
notice to such Requesting Holder delivered within two business days of receipt of such notice restrict the proposed offer, sale, transfer, or disposition of such Registrable Securities if the Company, in its reasonable judgment, has determined that
such transactions would require public disclosure by the Company of material non-public information that is not included in such registration. The notice referred to in the preceding sentence shall set forth the Company’s good faith estimate of
the number of days during which the Requesting Holder is to refrain from the proposed offer, sale, transfer of disposition of Registrable Securities. Upon receipt of such notice, the Requesting Holder agrees not to effect any offer, sale, transfer,
or other disposition of Registrable Securities pursuant to such registration statement for the period of days set forth in the Company’s notice. In the event the Requesting Holder is able to effect a transfer, sale or other disposition as
requested prior to the date the Company estimated, the Company shall provide an updated notice to the Requesting Holder. In any event, in the event of a delivery of the note described above by the Company, for a period of 15 trading days following
the expiration of the time period stated in the notice, a Holder may effect an offer, sale, transfer or other disposition of Registrable Securities without restriction under this Section 5. Notwithstanding the foregoing, the Company may not, without
the consent of the holders of a majority of the then-outstanding Registrable Securities, restrict the transfer, sale or other disposition of the Registrable Securities under any registration statement filed pursuant to this Agreement for more than
20 consecutive trading days or 90 trading days during any 365-day period. 
  

 -6- 

 6. Indemnification. 
  
 (a) The Company will indemnify and hold harmless each Holder, each of its officers, directors, partners, members,
stockholders, legal counsel and any underwriter (as defined in the Securities Act) for the Holder, and each person controlling such Holder or underwriter within the meaning of Section 15 of the Securities Act, with respect to which registration,
qualification or compliance has been effected pursuant to this Agreement against all expenses, claims, losses, damages or liabilities (or actions in respect thereof), including any of the foregoing incurred in settlement of any litigation, commenced
or threatened, arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any registration statement, prospectus, offering circular or other document, or any amendment or supplement thereto,
incident to any such registration, qualification or compliance, or based on any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances
in which they were made, not misleading, or any violation by the Company of the Securities Act or the Exchange Act or any rule or regulation promulgated thereunder applicable to the Company or any state securities law applicable to the Company in
connection with any such registration, qualification or compliance, and the Company will reimburse (on an as incurred basis), each Holder, each of its officers, directors, partners, members, and each person controlling such Holder, for any
reasonable legal and other expenses incurred in connection with investigating, preparing or defending any such claim, loss, damage, liability or action; provided, however, that the Company will not be liable in any such case to the
extent that any such claim, loss, damage, liability or expense arises out of or is based on any untrue statement or omission or alleged untrue statement or omission, made in reliance upon and in conformity with written information with regard to a
Holder furnished to the Company by such Holder for use by the Company in connection with a registration as required by Section 8 hereof; and provided further, however, that the Company will not be liable to any such person or
entity with respect to any such untrue statement or omission or alleged untrue statement or omission made in any preliminary prospectus that is corrected in the final prospectus filed with the SEC pursuant to Rule 424(b) promulgated under the
Securities Act (or any amendment or supplement to such prospectus) if the person asserting any such loss, claim, damage or liability purchased securities but was not sent or given a copy of the prospectus (as amended or supplemented) at or prior to
the written confirmation of the sale of such securities to such person in any case where such delivery of the prospectus (as amended or supplemented) is required by the Securities Act, unless such failure to deliver the prospectus (as amended or
supplemented) was a result of the Company’s failure to provide such prospectus (as amended or supplemented). 
  
 (b) Each Holder shall indemnify the Company, each of its directors and officers and each person who controls the Company within the meaning of Section 15
of the Securities Act against all claims, losses, damages, and liabilities (or actions in respect thereof) arising out of or based on any untrue statement (or alleged untrue statement) of a material fact contained in any such registration statement,
prospectus, offering circular or other document, or any omission (or alleged omission) to state therein a material fact required to be stated therein or necessary to make the statements therein, in light of the circumstances in which they were made,
not misleading, and will reimburse the Company and such directors, officers and partners and members, persons, or control persons of the Company for any reasonable legal or other expenses incurred in connection with investigating or defending any
such claim, loss, damage, liability or action, in each case to the 

  

 -7- 

 
extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such registration
statement, prospectus, offering circular or other document in reliance upon and in conformity with written information with regard to the Holder furnished to the Company by such Holder for use by the Company in connection with a registration as
required by Section 8 hereof. The liability of a Holder under this Section 6(b) shall not exceed the proceeds from the offering received by such Holder, prior to deduction of any commissions, transfer taxes or other selling expenses incurred with
respect to such sale. 
  
 (c) Each party entitled to
indemnification under this Section 6 (the “Indemnified Party”) shall give notice to the party required to provide indemnification (the “Indemnifying Party”) promptly after such Indemnified Party has actual knowledge
of any claim as to which indemnity may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim or any litigation resulting therefrom, provided, that counsel for the Indemnifying Party, who shall conduct the
defense of such claim or litigation, shall be approved by the Indemnified Party (whose approval shall not unreasonably be withheld), and the Indemnified Party may participate in such defense at such party’s expense, and provided
further, however, that the failure of any Indemnified Party to give notice as provided herein shall not relieve the Indemnifying Party of its obligations under this Section 6 unless the failure to give such notice is materially
prejudicial to an Indemnifying Party’s ability to defend such action (and then only to the extent of such prejudice). No Indemnifying Party, in the defense of any such claim or litigation, shall, except with the consent of each Indemnified
Party, consent to entry of any judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in respect to such claim
or litigation. Any Indemnified Party shall reasonably cooperate with the Indemnifying Party in the defense of any claim or litigation brought against such Indemnified Party. 
  
 (d) If the indemnification provided for in this Section 6 is for any reason not available to an Indemnified Party with
respect to any loss, liability, claim, damage, or expense referred to therein, then the Indemnifying Party, in lieu of indemnifying such Indemnified Party hereunder, shall contribute to the amount paid or payable by such Indemnified Party as a
result of such loss, liability, claim, damage or expense in such proportion as is appropriate to reflect the relative fault of the Indemnifying Party on the one hand and of the Indemnified Party on the other in connection with the statements or
omissions that resulted in such loss, liability, claim, damage or expense as will as any other relevant equitable considerations. The relative fault of the Indemnifying Party and of the Indemnified Party shall be determined by reference to, among
other things, whether the untrue or the alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by the Indemnifying Party or by the Indemnified Party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. The liability of a Holder under this Section 6(d) shall not exceed the proceeds from the offering received by such Holder less any amounts paid
pursuant to Section 6(b), prior to deduction of any commissions, transfer taxes or other selling expenses incurred with respect to such sale. 
  
 7. Expenses. The Company shall bear all Registration Expenses incurred in connection with (i) a registration declared effective by the SEC pursuant
to Section 2 here and (ii) of any registration, qualification or compliance pursuant to Section 3 hereof. All Selling Expenses relating 

  

 -8- 

 
to securities so registered shall be borne by the holders of such securities pro rata on the basis of the number of shares of securities so registered on
their behalf, provided, that any applicable taxes with respect to stock sold by a particular Holder shall be borne entirely by such Holder. 
  
 8. Information by Holder. Each Holder shall furnish to the Company such information regarding such Holder, the Registrable Securities held by it,
the manner in which such Holder holds any securities of the Company and the distribution proposed by such Holder as the Company may reasonably request in writing and as shall be reasonably required in connection with any registration, qualification
or compliance referred to in this Agreement. 
  
 9. Reports
Under the Exchange Act. With a view to making available to the Holders the benefits of Rule 144 and any other rule or regulation of the SEC that may at any time permit a Holder to sell securities of the Company to the public without
registration, the Company agrees to use commercially reasonable efforts to: 
  
 (a) make and keep public information available, as those terms are understood and defined in Rule 144, at all times after the date hereof; 
  
 (b) file with the SEC in a timely manner all reports and other documents required of the Company under the Securities Act
and the Exchange Act; and 
  
 (c) furnish to any Holder, so long
as the Holder owns any Registrable Securities, forthwith upon request (i) a written statement by the Company that it has complied with the reporting requirements of Rule 144, the Securities Act and the Exchange Act, (ii) a copy of the most recent
annual or quarterly report of the Company and such other reports and documents so filed by the Company, and (iii) such other information as may be reasonably requested to avail any Holder of any rule or regulation of the SEC that permits the selling
of any such securities without registration or pursuant to such form. 
  
 10. Limitation on Assignment of Registration Rights. The rights to cause the Company to register Registrable Securities pursuant to this Agreement may not be assigned or transferred, except that such right is assignable by each
Holder to (i) an “affiliate” of such Holder (as defined in Rule 12b-2 under the Exchange Act), or (ii) to a partner, active or retired of such Holder. As a condition to any permitted transfer hereunder, such transferee shall agree in
writing for the benefit of the Company to be bound by this Agreement. 
  
 11. Limitation on Subsequent Registration Rights. 
  
 (a) From and after the date of this Agreement, the Company shall not, without the prior written consent of the Holders of a majority of the Registrable Securities then outstanding, enter into any agreement with any holder or prospective
holder of any securities of the Company which would allow such holder or prospective holder (i) to include such securities in any registration filed under Section 2 or Section 3 hereof, unless under the terms of such agreement, such holder or
prospective holder may include such securities in any such registration only to the extent that the inclusion of his securities will not reduce the amount of the Registrable Securities of the Holders which are included, or (ii) to make a demand
registration which could result in such registration statement being declared effective prior to the date that is 120 days after the effective date of a registration effected pursuant to Section 2 hereof. 
  

 -9- 

 (b) Notwithstanding the foregoing, each Holder acknowledges and agrees that the Company has granted
Silicon Valley Bank pari passu registration rights pursuant to Section 3.3 of the Warrant to Purchase Stock dated as of June 16, 2003. Each Holder acknowledges and agrees that such registration rights shall remain effective after the date
hereof and hereby waives any breach, default, or other violation that may exist under the Prior Agreement in connection with the grant of such registration rights and any remedy or remedies that may exist with respect thereto. 
  
 12. Right of Participation. The Company hereby grants to each
Significant Holder the right to purchase its pro rata share of any New Securities which the Company may, from time to time, propose to sell and issue. A Significant Holder’s pro rata share, for purposes of this right of participation, is the
ratio that the number of shares of Common Stock issued or issuable upon conversion of the Series A Preferred Stock or the Series A-2 Preferred Stock owned by such Significant Holder immediately prior to the issuance of New Securities, bears to the
total number of shares of Common Stock outstanding as reported in the Company’s most recent Form 10-K or Form 10-Q, as the case may be, filed with the SEC under the Exchange Act. This right to participate shall be subject to the following
provisions: 
  
 (a) In the event the Company proposes to
undertake an issuance of New Securities, it shall give each Significant Holder written notice of its bona fide intention, describing the type of New Securities, and their price and the general terms upon which the Company proposes to issue the same.
Each Significant Holder shall have ten days after any such notice is effective as determined pursuant to Section 21(b) hereof to agree to purchase such Significant Holder’s pro rata share of such New Securities for the price and upon the terms
specified in the notice by giving written notice to the Company and stating therein the quantity of New Securities to be purchased. 
  
 (b) In the event the Significant Holders fail to exercise fully the right to participate within said ten day period, the Company shall have 90 days
thereafter to sell or enter into an agreement (pursuant to which the sale of New Securities covered thereby shall be closed, if at all, within 30 days from the date of said agreement) to sell the New Securities respecting which the Significant
Holders’ right to participate set forth herein was not exercised, at a price and upon terms no more favorable to the purchasers thereof than specified in the Company’s notice to Significant Holders pursuant to subsection (a) above. In the
event the Company has not sold within such 90 day period or entered into an agreement to sell the New Securities in accordance with the foregoing within 30 days from the date of said agreement, the Company shall not thereafter issue or sell any New
Securities, without first again offering such securities to the Significant Holders in the manner provided in subsection (a) above. 
  
 (c) Each Significant Holder (as constituted pursuant to the Prior Agreement) hereby waives the application of this provision pursuant to the Prior
Agreement, and waives all applicable notice provisions relating thereto, in connection with the sale and issuance of Series A-2 Preferred pursuant to the 2003 Purchase Agreement. 
  

 -10- 

 13. Limitation on Assignment of Right to Participate. The rights of the Significant Holders to
participate in sales of New Securities may not be assigned or transferred, except that such right is assignable by each Significant Holder to (i) an “affiliate” of such Significant Holder (as defined in Rule 12b-2 under the Exchange Act)
or (ii) to a partner (active or retired), parent, child or spouse of such Holder, or to a trust for the direct or indirect benefit of any of the foregoing, provided, that in the case of either (i) or (ii) such transferee together with its
affiliates holds after such transfer at least 66,667 shares of Series A Preferred Stock or 50,000 shares of Series A-2 Preferred Stock or at least the number of shares of Common Stock as were issued upon conversion of 66,667 shares of Series A
Preferred Stock or 50,000 shares of Series A-2 Preferred Stock (subject, in each case, to adjustments for stock splits, stock dividends, reverse stock splits and the like). 
  
 14. Termination of Right to Participate. The rights of the Significant Holders to participate in sales of New
Securities shall terminate upon the earlier of (i) the second anniversary of this Agreement, or (ii) when such Holder ceases to be a Significant Holder. 
  
 15. Transfer Restrictions of the Series A Preferred Stock and the Registrable Securities. Each Holder further agrees not to sell or otherwise make
any disposition or transfer of all or any portion of the Registrable Securities held by such Holder except (i) to an “affiliate” of such Holder (as defined in Rule 12b-2 under the Exchange Act), or (ii) to a partner (active or retired),
parent, child or spouse of such Holder, or to a trust for the direct or indirect benefit of any of the foregoing (and in each case under subsection (i) and (ii) hereof, as a condition to transfer, such transferee shall agree in writing for the
benefit of the Company to be bound by this Agreement), or unless: 
  
 (a) There is then in effect a registration statement under the Securities Act covering such proposed disposition and such disposition is made in accordance with such registration statement; or 
  
 (b) Such Holder shall have notified the Company of the proposed disposition
and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and, such Holder shall have furnished the Company with an opinion of counsel, reasonably satisfactory to the Company, that such
disposition will not require registration of such shares under the Securities Act. 
  
 Notwithstanding the foregoing, a Holder may, without restriction, transfer all or any portion of such Holder’s Registrable Securities (i) pursuant to a statutory merger or statutory consolidation of the Company
with or into another corporation or corporations in which the stockholders of the Company receive distributions in cash or securities of another entity or entities as a result of such transaction, and in which the stockholders of the Company,
immediately prior to such merger or consolidation hold, immediately after such merger or consolidation, less than a majority of the outstanding voting securities of the surviving or successor corporation or its parent, (ii) pursuant to the winding
up and dissolution of the Company, (iii) pursuant to a registration effected in accordance with Section 2 or Section 3 hereof, or (iv) in compliance with Rule 144. 
  
 16. Restrictive Legends. Each certificate representing Registrable Securities shall (unless otherwise permitted by
the provisions of this Agreement) be stamped or otherwise imprinted with a 

  

 -11- 

 
legend substantially similar to the following (in addition to any legend required under applicable state securities laws): 
  
 THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE
SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION OTHERWISE COMPLIES WITH THE ACT. 
  
 COPIES OF THE AGREEMENT COVERING THE PURCHASE OF THESE SHARES AND RESTRICTING THEIR VOTING AND TRANSFER MAY BE OBTAINED AT NO COST BY WRITTEN REQUEST MADE
BY THE HOLDER OF RECORD OF THIS CERTIFICATE TO THE SECRETARY OF THE COMPANY AT THE PRINCIPAL EXECUTIVE OFFICE OF THE COMPANY. 
  
 17. Market Stand-Off Agreement. Each Investor and Prior Investor and any permitted transferee hereunder agrees, in connection with the first
registration of the Company’s securities in connection with an underwritten public offering following the date hereof, upon request of the Company or the underwriters managing any underwritten offering of the Company’s securities, not to
sell, make any short sale of, loan, grant any option for the purchase of or otherwise dispose of any securities of the Company without the prior written consent of the Company or such underwriters, as the case may be, for such period of time (not to
exceed 180 days) from the effective date of such registration as the Company or the underwriters may specify; provided that (i) all officers and directors of the Company then holding capital stock of the Company and (ii) all stockholders holding in
the aggregate at least 5% of the fully-diluted equity of the Company are bound by similar agreements. The foregoing restriction shall not apply to any securities of the Company held by an Investor or Prior Investor that are included in such
registration. Each Investor and Prior Investor agrees that the Company may instruct its transfer agent to place stop-transfer notations in its records to enforce the provisions of this Section. This Section 17 shall not apply to the sale of any
shares to an underwriter pursuant to an underwriting agreement. Notwithstanding any other provision of this Agreement, the Company may assign the obligations of each Investor or Prior Investor under this Section 17 to any underwriter of the
Company’s securities. 
  

 -12- 

 18. Covenant Against Indebtedness. The Company agrees, that prior to December 19, 2005, the
approval of the Holders of two-thirds of the then outstanding “Investor Securities” (as defined below) will be required for: (i) any debt financing, including convertible debt financings, in excess of $750,000, in the aggregate, other than
(a) financing for the purchase or lease of capital equipment that is secured by the capital equipment, (b) accounts receivable financing that is secured by the accounts receivable of the Company, (c) normal trade debt, or (d) borrowings under the
Loan and Security Agreement dated as of June 16, 2003 between the Company and Silicon Valley Bank (the “Loan Agreement”); or (ii) any grant of a security interest in the intellectual property of the Company. “Investor
Securities” shall mean the Series A Preferred Stock and Series A-2 Preferred Stock issued pursuant to the 2002 Purchase Agreement and 2003 Purchase Agreement, respectively, and any Common Stock issued upon conversion thereof, or as a
dividend, distribution, exchange or replacement in respect thereof; provided, however, that “Investor Securities” shall not include any shares of Common Stock that are transferred to a person or entity that is not an
“Investor” under the 2002 Purchase Agreement or the 2003 Purchase Agreement or a partner (including former partners) or affiliate of the same. Each holder of Investor Securities hereby waives any breach, default, or other violation that
may exist under the Prior Agreement with respect to the Loan Agreement and any remedy or remedies that may exist with respect thereto. 
  
 19. Negative Covenants. 
  
 (a) The Company agrees that the approval of the Holders of two-thirds of the then outstanding A-2 Securities will be required to (i) increase to the
number of shares designated by the Company’s Certificate of Designation as Series A-2 Preferred Stock; (ii) designate, authorize, or issue, or obligate itself to designate, authorize, or issue, any equity security (including any other security
convertible into or exercisable for any such equity security) having a preference over, or being on a parity with, the Series A-2 Preferred Stock with respect to dividends, liquidation or redemption (other than issuances of Series A-2 Preferred
Stock pursuant to the 2003 Purchase Agreement or in accordance with the Rights Offering (as defined in the 2003 Purchase Agreement)); (iii) pay any dividend or make any distribution upon any share or shares of Preferred Stock or Common Stock of the
Company; (iv) redeem, purchase or otherwise acquire (or pay into or set aside for a sinking fund for such purpose) any share or shares of Preferred Stock or Common Stock of the Company; provided, however, that this restriction shall
not apply to the repurchase of shares of Common Stock from employees, officers, directors, consultants or other persons performing services for this corporation or any subsidiary pursuant to agreements under which the Company has the option to
repurchase such shares upon the occurrence of certain events, such as the termination of employment or service, or pursuant to a right of first refusal. 
  
 (b) “A-2 Securities” shall mean shares of Series A-2 Preferred Stock issued pursuant to the 2003 Purchase Agreement. 
  
 (c) The Company acknowledges and agrees that it would be impossible to
measure in money the damages a holder of A-2 Securities may incur in the event the Company fails to comply with its obligations under this Section 19, and in the event of such failure to comply, a holder of A-2 Securities will not have an adequate
remedy at law for damages. Accordingly, with respect only to compliance with this Section 19, the Company hereby agrees that injunctive relief or other equitable relief, in addition to remedies at law for damages, is the appropriate remedy for any

  

 -13- 

 
such failure, and the Company will not oppose the granting of such relief on the basis that such holders have an adequate remedy at law. 
  
 20. Covenant About Investment Advisors Act. The Company agrees that it
will take such actions as may from time to time be necessary to insure that the Company does not become subject to the Investment Advisors Act of 1940, as amended. 
  
 21. Miscellaneous. 
  
 (a) Third Parties. Nothing in this Agreement, express or implied, is intended to confer upon any party, other than the parties to this Agreement,
and their respective successors and assigns, any rights, remedies, obligations or liabilities under or by reason of this Agreement. 
  
 (b) Governing Law. This Agreement shall be construed in accordance with, and governed in all respects by, the laws of the State of California,
regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof. With respect to any disputes arising out of or related to this Agreement, the parties consent to the exclusive jurisdiction of, and venue
in, the state courts in the County of Santa Clara in the State of California (or in the event of exclusive federal jurisdiction, the courts of the Northern District of California). 
  
 (c) Severability. If one or more provisions of this Agreement are held to be unenforceable under applicable law,
portions of such provisions, or such provisions in their entirety, to the extent necessary, shall be severed from this Agreement, and the balance of this Agreement shall be enforceable in accordance with its terms. 
  
 (d) Notices. All notices and other communications required or
permitted hereunder shall be in writing and shall be mailed by registered or certified mail, postage prepaid, sent by facsimile, or otherwise delivered by hand or by messenger addressed: 
  
 (i) if to an Investor or Prior Investor, at the Investor’s or Prior Investor’s address or facsimile number as
shown on Exhibit A to the Purchase Agreement; or 
  
 (ii)
if to the Company, at its address at 77 Robin Hill Road, Santa Barbara, California 93117 or facsimile number at (805) 692-2999 and addressed to the attention of the President, or at such other address or facsimile number as the Company shall have
furnished to the Investors ad Prior Investors; with a copy to Wilson Sonsini Goodrich & Rosati, Professional Corporation at 650 Page Mill Road, Palo Alto, California 94304-1050 and addressed to the attention to Thomas C. DeFilipps and Robert F.
Kornegay. 
  
 Each such notice or other communication shall for
all purposes of this Agreement be treated as effective or having been given when delivered if delivered personally, or, if sent by mail, at the earlier of its receipt or 72 hours after the same has been deposited in a regularly maintained receptacle
for the deposit of the United States mail, addressed and mailed as aforesaid or, if sent by facsimile, upon confirmation of facsimile transfer. Any party may amend its address for receipt of notice by delivering written instructions to the other
party in accordance with this Section 21(d). 
  

 -14- 

 (e) Amendment and Waiver. This Agreement may be amended, or any provision waived, only upon the
written consent of the Company and two-thirds in interest of the Holders, provided, however, that any amendment to, or waiver under, (i) Sections 12, 13 or 14 shall require the written consent of the Company and a majority-in-interest
of the Significant Holders; (ii) Section 18 shall require the written consent of the Company and holders of two-thirds of the then-outstanding Investor Securities; and (iii) Section 19 shall require the written consent of holders of two-thirds of
the then-outstanding A-2 Securities; and provided further, however, that any amendment adversely affecting one or more Holders or Significant Holders, as applicable, that does not so affect all Holders or Significant Holders, as
applicable, shall require the written consent of such adversely affected Holder or Significant Holder. Each of the parties hereto acknowledges and agrees that the Company proposes to issue and sell additional shares of Series A-2 Preferred Stock
pursuant to the 2003 Purchase Agreement and that any such purchaser of such Series A-2 Preferred Stock shall become a Holder pursuant to this Agreement and a party hereto upon execution of an additional signature page by the Company and such
purchaser, without any requirement on the part of the Company to seek consent or approval of the Holders. 
  
 (f) Confidentiality. Anything in this Agreement to the contrary notwithstanding, no Holder by reason of this Agreement shall have access to any
trade secrets or classified information of the Company. Each Holder acknowledges that the information received by them pursuant to this Agreement may be confidential and for its use only, and it will not use such confidential information in
violation of the Exchange Act or reproduce, disclose or disseminate such information to any other person (other than its employees or agents having a need to know the contents of such information who are subject to confidentiality obligations to
such Holder, and its attorneys), except in connection with the exercise of rights under this Agreement, unless the Company has made such information available to the public generally or such Holder is required to disclose such information by a
governmental authority. 
  
 (g) Counterparts. This
Agreement may be executed in counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
  
 (h) Telecopy Execution and Delivery. A facsimile, telecopy or other reproduction of this Agreement may be executed by
one or more parties hereto, and an executed copy of this Agreement may be delivered by one or more parties hereto by facsimile or similar electronic transmission device pursuant to which the signature of or on behalf of such party can be seen, and
such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party hereto, all parties hereto agree to execute an original of this Agreement as well as any facsimile, telecopy or other
reproduction hereof. 
  

 -15- 

 IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Investors’ Rights
Agreement effective as of the day and year first above written. 
  

	 OCCAM NETWORKS, INC.
 a Delaware corporation

		
	 By:
	 	 /s/ Howard M. Bailey

	 Name:
	 	 Howard M. Bailey

	 Title:
	 	 Chief Financial Officer

  

 [Signature Page to Investors’ Rights Agreement] 

	“INVESTOR”
	
	 U.S. Venture Partners VII, L.P.

	 2180 Associates Fund VII, L.P.

	 USVP Entrepreneur Partners VII-A, L.P.

	 USVP Entrepreneur Partners VII-B, L.P.

	 By Presidio Management Group VII, L.L.C.

	 The General Partner of Each

		
	 By:
	 	 /s/    Michael P. Maher

	 Name:
	 	 Michael P. Maher

	 Title:
	 	 Attorney-In-Fact

	
	 U.S. Venture Partners V, L.P.

	 USVP V International, L.P.

	 2180 Associates Fund V, L.P.

	 USVP V Entrepreneur Partners, L.P.

	 By Presidio Management Group V, L.L.C.

	 The General Partner of Each

		
	 By:
	 	 /s/    Michael P. Maher

	 Name:
	 	 Michael P. Maher

	 Title:
	 	 Attorney-In-Fact

  

 [Signature Page to Investors’ Rights Agreement] 

	“INVESTOR”
	
	 Norwest Venture Partners VIII, L.P.

	 By: Itasca VC Partners VIII, LLP

	 Its: General Partner

		
	 By:
	 	 /s/    Promod
Hague        

	 Name:
	 	 Promod Hague

	 Title:
	 	  

	
	 NVP Entrepreneurs Fund VIII, L.P.

	 By: Itasca VC Partners VIII, LLP

	 Its: General Partner

		
	 By:
	 	 /s/    Promod
Hague        

	 Name:
	 	 Promod Hague

	 Title:
	 	  

  

 [Signature Page to Investors’ Rights Agreement] 

	“INVESTOR”
	
	 Hook Partners V, L.P.

		
	 By:
	 	 /s/ David Hook

	 	 	 David Hook, General Partner

  

 [Signature Page to Investors’ Rights Agreement] 

	“INVESTOR”
	
	 New Enterprise Associates 9, L.P.

	 By: NEA Partners 9, L.P.

	 Its General Partner

		
	 By:
	 	 /s/    Thomas C. McConnell

	 Name:
	 	 Thomas C. McConnell

	 Title:
	 	 General Partner

  

 [Signature Page to Investors’ Rights Agreement]

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00058-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00058-of-00352.parquet"}]]