Document:

Exhibit
4.2

EXECUTION
COPY

AECOM TECHNOLOGY CORPORATION

 

INVESTOR RIGHTS AGREEMENT

Dated as of February 9, 2006

                 

 

	
  1.

  	
  Definitions

  	
   

  	
  1

  
	
   

  	
   

  	
   

  	
   

  
	
  2.

  	
  Registrations

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.1

  	
  Demand Registrations

  	
   

  	
  7

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.2

  	
  Piggyback Registrations

  	
   

  	
  9

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.3

  	
  Form S-3 Registration

  	
   

  	
  10

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.4

  	
  Right to Defer Registration

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.5

  	
  Hold-Back Agreements

  	
   

  	
  12

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.6

  	
  Registration Procedures

  	
   

  	
  13

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.7

  	
  Registration Expenses

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.8

  	
  Indemnification

  	
   

  	
  18

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.9

  	
  Requirements for Participation in Underwritten
  Offerings

  	
   

  	
  20

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.10

  	
  Treatment of Acquisition Securities

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.11

  	
  Exchange Act Reporting Requirements

  	
   

  	
  21

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  2.12

  	
  Termination of Registration Rights

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  3.

  	
  Drag-Along Rights

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  
	
  4.

  	
  Investors’ Right of First Offer

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.1

  	
  ROFO Notice

  	
   

  	
  22

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.2

  	
  Class F Preferred Shelf Offered Shares

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.3

  	
  Offered Shares

  	
   

  	
  23

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.4

  	
  Non-Cash Consideration

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.5

  	
  Delivery of Shares

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.6

  	
  Subsequent Offers

  	
   

  	
  24

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.7

  	
  Right of First Offer Adjustments

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  4.8

  	
  Termination

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  5.

  	
  Preemptive Rights

  	
   

  	
  25

  
	
   

  	
   

  	
   

  	
   

  
	
  6.

  	
  Transfer Restrictions; Company’s Right of First
  Refusal

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.1

  	
  Securities Law Compliance

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.2

  	
  Non-Transferability

  	
   

  	
  26

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.3

  	
  Void Transfers

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.4

  	
  Company Right of First Refusal

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.5

  	
  Company Right of First Refusal Procedures

  	
   

  	
  27

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.6

  	
  Non-Cash Consideration

  	
   

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.7

  	
  Delivery of Shares

  	
   

  	
  28

  

 

 i
 

                 

 

	
  

  	
  6.8

  	
  Subsequent Offers

  	
   

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  6.9

  	
  Termination

  	
   

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  7.

  	
  Delivery of Financial Statements

  	
   

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  7.1

  	
  Annual Financial Statements

  	
   

  	
  28

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  7.2

  	
  Quarterly Financial Statements and Annual Budget

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  8.

  	
  Investigations and Access

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.1

  	
  Access to Information

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  8.2

  	
  Confidentiality

  	
   

  	
  29

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  9.

  	
  Investor Matters

  	
   

  	
  30

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  9.1

  	
  Investor Representation

  	
   

  	
  30

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  9.2

  	
  Investor Covenant

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  9.3

  	
  Company Covenant

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  9.4

  	
  Survival

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  10.

  	
  Investor Group Directors

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.1

  	
  Right to Elect Investor Group Directors

  	
   

  	
  31

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.2

  	
  Nomination Procedures

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  10.3

  	
  Director Indemnification

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  11.

  	
  Miscellaneous

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.1

  	
  Mandatory Redemption True-Up

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.2

  	
  Future Registration Rights Agreement

  	
   

  	
  32

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.3

  	
  Remedies

  	
   

  	
  33

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.4

  	
  Amendments and Waivers

  	
   

  	
  33

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.5

  	
  Notices

  	
   

  	
  33

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.6

  	
  Counterparts

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.7

  	
  Table of Contents and Headings

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.8

  	
  Governing Law

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.9

  	
  Severability

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.10

  	
  Forms

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.11

  	
  Entire Agreement

  	
   

  	
  34

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.12

  	
  Recapitalizations, etc.

  	
   

  	
  35

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.13

  	
  Inspection

  	
   

  	
  35

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.14

  	
  Legend

  	
   

  	
  35

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.15

  	
  Further Assurances

  	
   

  	
  35

  

 

 ii
 

                 

 

	
  

  	
  11.16

  	
  No Inconsistent Agreements

  	
   

  	
  36

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.17

  	
  Successors and Assigns

  	
   

  	
  36

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.18

  	
  Delays or Omissions

  	
   

  	
  36

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.19

  	
  Submission to Jurisdiction; Waiver of Service and Venue

  	
   

  	
  36

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  11.20

  	
  Submission to Jurisdiction; Waiver of Service and
  Venue

  	
   

  	
  37

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  (1)

  	
   

  	
   

  
						

 

 iii

INVESTOR RIGHTS AGREEMENT

This
Investor Rights Agreement (this “Agreement”) is made and entered into as
of February 9, 2006, by and among AECOM Technology Corporation, a Delaware
corporation (the “Company”), and the investors on the signature page
hereto (together with any of their Permitted Transferees and any other
stockholders of the Company who from time to time become party to this
Agreement by execution of a Joinder Agreement (a “Joinder Agreement”) in
substantially the form attached hereto as Exhibit A, herein referred to
collectively as the “Investors” and individually as an “Investor”).  In order to induce the Investors to enter
into the Purchase Agreement (as defined herein), the Company has agreed to
provide the registration and other rights set forth in this Agreement. 
The execution of this Agreement is a condition to the closing under the
Purchase Agreement.  Capitalized terms
used herein and not otherwise defined shall have the meaning assigned to them
in the Purchase Agreement.

The
parties hereby agree as follows:

1.                                      Definitions

As
used in this Agreement, the following capitalized terms shall have the
following meanings:

“Acceptable
Valuation Firm”:  Shall have the
meaning ascribed to it in the Class F Certificate of Designations.

“Acquisition
Securities”:  Shall have the meaning
set forth in Section 2.10 hereof.

“Affiliate”:
Of a Person, shall mean any entity controlling, controlled by or under common
control with such Person.  For the
purposes of this definition, “control” shall have the meaning presently
specified for that word in Rule 405 promulgated by the SEC under the Securities
Act.

“Board
of Directors”:  The board of
directors of the Company.

“Business
Day”:  A day other than a Saturday or
Sunday or any day that commercial banks are permitted to be closed in New York,
New York or Los Angeles, California.

“Cash
Value”:  In the case of securities
which are quoted on any national securities exchange, an amount equal to the
last reported sales price on such exchange for such securities on the date of
the Drag-Along Sale, ROFO Notice or Transfer Notice, and in the case of
securities or other property for which there is no such readily available
market price, an amount equal to the fair market value of such securities or
property as determined in good faith by the Board of Directors.  If a determination is to be made by the Board
of Directors pursuant to this definition, then the Board of Directors shall
promptly make such determination and advise the subject Holder(s) of its
conclusion in writing.  Within five (5)
Business Days of receipt of any such notice, if Holders of a majority of the
New Preferred Shares (on an as-converted basis) and Registrable Securities
which are the subject of such a determination, voting together, advise the
Company that it or they object to such determination, which objection shall not
be unreasonable, then the fair market value shall be 

 1
 

determined by
agreement of the Company and the Holders of a majority of the New Preferred
Shares (on an as-converted basis) and Registrable Securities, which are the
subject of such a determination, voting together, or in the absence of such
agreement within a period of 15 days, by an Acceptable Valuation Firm.

“Claim”: 
Any loss, claim, damages, liability or expense (including the reasonable costs
of investigation and reasonable legal fees and expenses).

“Class
D Investor Rights Agreement”:  Shall
mean that certain Investor Rights Agreement, dated as of June 24, 2003, by and
among the Company and the holders of the Class D Preferred Stock named therein
as in effect as of the date hereof.

“Class
D Preferred Stock”:  The Class D
Convertible Preferred Stock, $.01 par value per share, of the Company.

“Class
D Registrable Stock”:  The shares of
Common Stock issued or issuable upon conversion of the Class D Preferred Stock
and the Exchange Notes, if any, and upon exercise of the Class D Warrants, and
any securities issued or issuable in respect thereof by way of a stock dividend
or stock split or in connection with a combination of shares, recapitalization,
merger, consolidation or reorganization (including, without limitation any
shares of Common Stock issued or issuable upon conversion of any additional
Class D Preferred Stock issued as dividends on the outstanding Class D
Preferred Stock).

“Class
D Warrants”: The warrants issued to the Holders of Class D Preferred Stock
to purchase an aggregate of 500,000 shares of Common Stock of the Company.

“Class
F Certificate of Designations”:  The
Certificates of Designations, collectively, with respect to the class or
sub-series of Preferred Stock of the Company designated as Convertible Class F
Preferred Stock, $0.01 par value per share, filed with the Secretary of State
of the State of Delaware from time to time.

“Class
F Preferred Shares”:  The Convertible Class F Preferred Stock, $.01 par
value per share, such class being issued in one or more series, of the Company
having the rights, designations and preferences set forth in the Class F
Certificate of Designations.

“Class
F Preferred Shelf”:  Shall have the
meaning set forth in Section 4.2 hereof.

“Closing
Date”:  February 9, 2006.

“Common
Equity”:  All shares now or hereafter
authorized of any class of common stock of the Company, including the Common
Stock, and any other stock of the Company, howsoever designated, authorized
after the Effective Date, which has the right (subject always to prior rights
of any class or series of Preferred Stock) to participate in the distribution
of the assets and earnings of the Company without limit as to per share amount.

“Common Stock”: 
The common stock, par value $.01 per share, of the Company.

“D-A
Sale Price”:  Shall have the meaning
set forth in Section 3(a) hereof.

 2
 

“Demand
Registration”:  A registration
pursuant to Section 2.1 hereof.

“Direct
Competitor”:  Shall have the meaning
set forth in Section 6.2(a) hereof.

“Drag-Along
Sale”:  Shall have the meaning set
forth in Section 3 hereof.

“Effective
Date” means the date on which the Certificate of Designations for the
Series 1 Stock is filed with and accepted by the Secretary of State of the
State of Delaware and becomes effective.

“Equity
Security”:  Any capital stock of the
Company or any security convertible, with or without the payment of additional
consideration, into any such stock or a security convertible into any such
stock or any security carrying any warrant or right to subscribe to or purchase
any such stock, or any such warrant or right.

“Exchange
Act”:  The Securities Exchange Act of
1934, as amended.

“Exchange
Notes”:  The convertible notes of the
Company that may be issued in exchange for the Class D Preferred Stock under
certain circumstances.

“Fully
Exercising Investor”:  Shall have the
meaning set forth in Section 4.2(b) hereof.

“Holder”: 
The beneficial owner of a security.  For all purposes of this Agreement,
the Company shall be entitled to treat the record owner of a security as the
beneficial owner of such security unless the Company has been given written
notice of the existence and identity of a different beneficial owner.  A
Holder of New Preferred Shares shall be deemed to be the Holder of the Common
Stock into which such New Preferred Shares could be converted.

“Indemnified
Holder”:  Any Holder of Registrable Securities and any officer,
director, employee or agent, heir, successor or assign, or Affiliate of any
such Holder and any Person who controls any such Holder within the meaning of
either Section 15 of the Securities Act or Section 20 of the Exchange Act and
the officers, directors, agents, Affiliates, and employees of any such controlling
Person.

“Initial
Public Offering”:  The date of the
initial underwritten offering of Common Stock made pursuant to the Securities
Act on Form S-1 or Form S-3 if applicable (as defined in the Securities Act) or
any successor form and following which the Common Stock is trading on the New
York Stock Exchange, the American Stock Exchange or Nasdaq.

“Investor
Group”:  Shall mean an Investor and
each Affiliate of such Investor, collectively, that acquired New Preferred
Shares with an aggregate Liquidation Preference of at least $100,000,000 on the
first date that any New Preferred Shares were purchased by such Investor or its
Affiliates.  For purposes of
clarification, such Investor and its Affiliates shall be considered one
Investor Group and shall only be entitled collectively to elect one director
pursuant to Section 10.1. 
Notwithstanding the foregoing, the Investor Group of an Investor shall
include any Person that acquires New Preferred Shares after the Closing Date,
so long as all voting, inspection,
information, disposition and other significant matters pertaining to such New
Preferred Shares 

 3
 

are controlled by the Investor in such Investor Group that first
purchased New Preferred Shares or, in the alternative, the Person that controls
all voting and other significant matters of such Investor, if applicable.

“Investor
Group Director”:  Shall mean any
individual elected to the Board of Directors of the Company by an Investor
Group pursuant to Section 10.1.

“Investor
Group Holder”:  Shall mean an Investor
that is part of an Investor Group.

“Investors”:  Shall have the meaning set forth in the
preamble to this Agreement.

“Joinder
Agreement”:  Shall have the meaning
set forth in the preamble to this Agreement.

“Liquidation
Preference”:  Shall mean $2,500 per
share of New Preferred Shares.

“Mandatory
Redemption Price”:  Shall have the
meaning ascribed to it in the applicable New Parity Stock Certificate of
Designations.

“Misstatement”: 
An untrue statement of a material fact or an omission to state a material fact
required to be stated in a Registration Statement or Prospectus or necessary to
make the statements in a Registration Statement, Prospectus or preliminary
prospectus, as amended or supplemented from time to time, in light of the
circumstances under which they were made, not misleading.

“NASD”:
Shall mean the National Association of Securities Dealers, Inc. and any
successor thereto.

“Nasdaq”:
Shall mean the Nasdaq Stock Market, Inc., and any successor thereto.

“New
Parity Stock”:  Shall have the meaning
set forth in the Class F Certificate of Designations.

“New
Parity Stock Certificate of Designations”: 
Shall have the meaning set forth in Section 11.9 hereof.

“New
Preferred Shares”:  Shall mean the
Class F Preferred Shares and New Parity Stock.

“New
Securities” shall mean any Common Equity, or any debt or equity security
convertible or exchangeable, with or without consideration, into or for any
Common Equity, or any security carrying any option, warrant or right to
subscribe for or purchase any Common Equity, or any such option, warrant or
right, of the Company whether now authorized or not, provided that the term “New
Securities” does not include any New Parity Stock or Common Equity or any debt
or equity security convertible or exchangeable, with or without consideration,
into or for any Common Equity, or any security carrying any option, warrant or
right to subscribe for or purchase any Common Equity, or any such option,
warrant or right, of the Company issued (i) upon conversion of the shares of
New Parity Stock, Parity Preferred Stock, UMA Class Y Exchangeable Shares, UMA 

 4
 

Class YY
Exchangeable Shares, shares of AECOM Global Holdings, Ltd. or other Convertible
Securities (as defined in the Class F Certificate of Designations), (ii) upon
the exercise of the warrants outstanding on the Effective Date issued in
connection with the Company’s Class D Convertible Preferred Stock, par value
$.01 per share, (iii) pursuant to the Company’s Stock Plans, (iv) as a result
of any stock matches granted by the Company under the Stock Plans (including
the Company’s 401(k) plans) approved by the Board of Directors, (v) in
connection with any stock split, stock dividend or recapitalization of the
Company, or (vi) in connection with an acquisition transaction, building or
equipment lease transaction, strategic alliance or partnership arrangement that
is approved by the Board of Directors.

“Non-Purchasing
Holder”:  Shall have the meaning set
forth in Section 5.1 hereof.

“Offered
Shares”:  Shall have the meaning set forth
in Section 4.3 hereof.

“Parity
Preferred Stock” means the series of Preferred Stock of the Company known
as Convertible Preferred Stock, par value $.01 per share, the series of
Preferred Stock of the Company known as Class C Preferred Stock, par value $.01
per share, and the series of Preferred Stock of the Company known as Class E
Preferred Stock, par value $.01 per share, each as issued pursuant to Article
Fourth of the Company’s Certificate of Incorporation.

“Participating
Holders”:  Shall have the meaning set
forth in Section 5.1 hereof.

“Permitted
Transferee”:  Shall have the meaning
set forth in Section 6.2(a) hereof.

“Person”:  A natural person, partnership, corporation,
business trust, association joint venture, limited liability company or other
entity or a government or agency or political subdivision thereof.

“Piggyback
Registration”:  A registration pursuant to Section 2.2 hereof.

“Preferred Stock”: The preferred stock, par value $0.01 per
share, of the Company, including any series or sub-series thereof.

“Prospectus”: 
The prospectus included in any Registration Statement, as supplemented by any
and all prospectus supplements and including all material incorporated by
reference in such prospectus.

“Purchase
Agreement”:  The Preferred Stock Purchase
Agreement by and among the Company and certain purchasers identified therein,
dated January 25, 2006, and any securities purchase agreements entered into
after such date by Investors (other than Affiliates of Investors at such time)
that become a party to this Agreement pursuant to a Joinder Agreement in
substantially the form of Exhibit A attached hereto.

“Qualified
Public Offering”:  Shall mean one or
more underwritten public offerings of Common Stock made pursuant to the
Securities Act on Form S-1 or Form S-3 (as defined in the Securities Act) or
any successor forms, which shall not include a registration relating solely to
a transaction under Rule 145 under the Securities Act or to an employee benefit
plan of the Company; provided, however, that the aggregate gross proceeds in
such offering or offerings are at least 

 5
 

$50,000,000 and
the offered Common Stock is trading on the New York Stock Exchange, the
American Stock Exchange or Nasdaq.

“Registrable
Securities”:  The shares of Common
Stock issued or issuable upon conversion of the New Preferred Shares and any
securities issued or issuable in respect thereof by way of a stock dividend or
stock split or in connection with a combination of shares, recapitalization,
merger, consolidation or reorganization (including, without limitation any
shares of Common Stock issued or issuable upon conversion of any additional New
Preferred Shares issued as dividends on the outstanding New Preferred Shares).

“Registration”: 
A Demand Registration, S-3 Registration or Piggyback Registration.

“Registration
Expenses”: Any reasonable expenses (excluding underwriting discounts and
commissions for the selling Holders of Registrable Securities, which shall be
paid by the selling Holders of Registrable Securities) incident to the Company’s
performance of or compliance with Section 2 of this Agreement, including
without limitation all registration and filing fees, fees and expenses of
compliance with securities or blue sky laws (including without limitation
reasonable fees and disbursements of counsel for the underwriters in connection
with “blue sky” qualifications of the Registrable Securities and determination
of the eligibility of the Registrable Securities for investment under the laws
of such jurisdictions as the managing underwriters may designate), fees and
expenses with respect to filings required to be made with the NASD, all
reasonable printing expenses, messenger, telephone and delivery expenses,
reasonable fees and expenses of counsel for the Company, reasonable fees and
expenses of one special counsel for the selling Holders of Registrable
Securities (as selected in the sole discretion of such selling Holders),
reasonable fees and disbursements of all independent certified public
accountants (including the expenses of any special audit and “comfort” letters
required by or incident to such performance), and any other Persons retained by
the Company.

“Registration Statement”:  Any
registration state­ment under the Securities Act on an appropriate form
(which form shall be available for the sale of the Registrable Securities in
accordance with the intended method or methods of distribution thereof and
shall include all financial statements required by the SEC to be filed
therewith) which covers Registrable Securities pursuant to the provisions of
this Agreement, including the Prospectus included in such registration
statement, amendments (including post-effective amendments) to such
registration statement, and all exhibits to and all material incorporated by
reference in such registration statement.

“Rejected
Class F Preferred Shelf”:  Shall have
the meaning set forth in Section 4.2 hereof.

“ROFO
Notice”:  Shall have the meaning set
forth in Section 4.1.

“ROFO
Price”:  Shall have the meaning set
forth in Section 4.1.

“S-3
Registration”:  A registration
pursuant to Section 2.3 hereof.

“SEC”:
The Securities and Exchange Commission.

“Securities
Act”:  The Securities Act of 1933, as
amended.

 6
 

“Senior
Credit Facility”:  The Amended and
Restated Credit Agreement, dated as of December 30, 2003, by and among the
Company, the other borrowers named therein, Bank of America, N.A., as the
administrative agent, the letter of credit issuing lenders, and the other
financial institutions party thereto, as amended, modified, extended or replaced
from time to time.

“Series
1 Stock”:  The series of the
Preferred Stock designated as Class F Convertible Preferred Stock, Series 1.

“Stock
Plans” means all stock, stock unit, stock purchase/loan, option and option
loan plans, Save As You Earn and similar employee benefit trusts and schemes in
the United Kingdom and other non-U.S. jurisdictions, and stock repurchase
programs of the Company for the benefit of past, present and future employees,
directors and consultants of the Company (as such) approved by the Board of
Directors and as such plans may be amended, restated or replaced from time to
time.

“Transfer”:
(in either the noun or the verb form, including with respect to the verb form,
all conjugations thereof within their correlative meanings) With respect to any
security, the direct or indirect gift, sale, assignment, transfer, pledge,
distribution, donation, conveyance, hypothecation or other disposition (whether
for or without consideration, whether directly or indirectly, and whether
voluntary, involuntary or by operation of law) of such security or any interest
therein.

“Transfer
Notice”: Shall have the meaning set forth in Section 6.4 hereof.

“Transfer
Price”: Shall have the meaning set forth in Section 6.4 hereof.

“Transferring
Shares”: Shall have the meaning set forth in Section 6.4 hereof.

2.                                      Registrations

2.1          Demand Registrations

(a)           Timing
of Demand Registrations

Beginning
six (6) months after the completion of a Qualified Public Offering, any
Investor Group that holds at least 50% of the New Preferred Shares such
Investor Group initially acquired (or Registrable Securities converted
therefrom) may request in writing at any time and from time to time that the
Company file a Registration Statement under the Securities Act on an appropriate
form (which form shall be available for the sale of the Registrable Securities
in accordance with the intended method or methods of distribution thereof and
shall include all financial statements required by the SEC to be filed
therewith) providing for the resale of all of the shares of Registrable
Securities that are the subject of such request within one hundred twenty (120)
days from the effective date of such Registration Statement.  Following such request, the Company shall
file with the SEC, as soon as possible but in any event within sixty (60) days
of receipt of such request, such a Registration Statement covering the
Registrable Securities requested to be included in such registration.  The Company shall use its commercially
reasonable efforts to cause the Registration Statement to become effective as
soon as reasonably possible, as determined in good faith by the Company.  The Company shall effect such registration of
such Holders’ Registrable 

 7
 

Securities as are
specified in such request, together with all or such portion of the Registrable
Securities of any other Holder or Holders of Registrable Securities joining in
such request pursuant to Section 2.1(d). 
The Company shall keep any Registration Statement required by this Section
2.1(a) continuously effective, supplemented, amended and current as
required by and subject to the provisions of Section 2.5 hereof and in
conformity with the requirements of this Agreement, the Securities Act and the
policies, rules and regulations of the SEC as announced from time to time,
until the earlier of (x) the date on which all Registrable Securities
registered pursuant to such Registration Statement have been sold pursuant to
such Registration Statement and (y) one hundred twenty (120) days from the
effective date of the Registration Statement, provided that such one
hundred twenty (120) day period shall be extended on a day-for-day basis for
each day that the Registration Statement and related Prospectus were not
available for use by the Holders.

(b)           Number
of Demand Registrations

No
more than two (2) requests per Investor Group for registration pursuant to Section
2.1(a) above, shall be required to be provided by the Company; provided,
however, that any such Demand Registration shall not be counted as one
of the two (2) Demand Registrations unless (i) the Registration Statement for
such Demand Registration becomes effective, and (ii) the Registration Statement
includes at least 75% of the Registrable Securities requested to be registered
pursuant to such Demand Registration after the underwriter’s cutback pursuant
to Section 2.1(e); and provided, further, that the Company
shall not be required to comply with a request for Demand Registration (x)
until 90 days after any public offering of the Company’s Common Stock
registered under the Securities Act or (y) if the Company delivers notice to
the Holders of Registrable Securities, within thirty (30) days after such
request is received, of its intent in good faith to file a Registration
Statement that would allow Holders of Registrable Securities to participate
under Section 2.2 within sixty (60) days after such notice from the
Company is sent (it being understood that such requests shall not count as one
of the two (2) Demand Registrations, nor affect any rights to Piggyback
Registrations, allowed hereunder); provided that, for the avoidance of doubt,
if the Company does not file a Registration Statement based on clause (x)
or (y) above, the Holders’ requests which were rejected shall not count
towards the total number of requests permitted by this Section 2.1(b)
and shall be deemed not to have been “made” for purposes of the next
sentence.  No more than one request for
Demand Registration per Investor Group may be made during any consecutive
twelve (12) month period.

(c)           Required
Thresholds

The
Company shall not be obligated to prepare, file and cause to become effective
pursuant to this Section 2.1 a Registration Statement unless the request
for such Demand Registration provides for the resale of Registrable Securities with
a proposed aggregate offering price, net of underwriting discounts and
commissions, of the securities to be resold by the Holders in such Demand
Registration of at least $50,000,000.

(d)           Participation

The
Company shall give written notice to all Holders of Registrable Securities and
Class D Registrable Stock within five (5) Business Days upon receipt of a
request for a Demand Registration pursuant to Section 2.1(a) above. The
Company shall, subject to Section 2.1(e) below, 

 8
 

include in such
Demand Registration such shares of Registrable Securities for which it has
received written requests to register such shares within fifteen (15) days
after such written notice has been given. 
No shares of Common Stock or other securities (other than, to the extent
required by the Class D Investor Rights Agreement, Class D Registrable Stock)
to be sold by the Company or any Holder of shares of Common Stock or other
securities of the Company (other than the Holders of Registrable Securities or
Class D Registrable Stock) shall be included in any Registration effected
pursuant to this Section 2.1.

(e)           Underwriter’s
Cutback

If
the public offering of Registrable Securities pursuant to this Section 2.1
is to be underwritten and, in the good faith judgment of the managing underwriter,
the inclusion of all the Class D Registrable Stock and the Registrable
Securities requested to be registered hereunder would interfere with the
successful marketing of such underwritten offering, the Company will include in
such registration, prior to the inclusion of Registrable Securities, to the
extent required by the Class D Investor Rights Agreement, any shares of Class D
Registrable Stock and then, prior to the inclusion of any securities that are
not shares of Class D Registrable Stock or Registrable Securities, the number
of shares of Registrable Securities requested to be included that in the
opinion of such underwriters can be sold in an orderly manner within the price
range of such offering, pro rata among
the respective Holders thereof on the basis of the number of shares of
Registrable Securities that each such Holder of Registrable Securities has
requested the Company to include in such registration.

(f)            Managing
Underwriter

The
managing underwriter or underwriters of any underwritten public offering
covered by a Demand Registration or an S-3 Registration shall be an underwriter
selected by the Company, subject to the prior approval of the Holders of a
majority of the shares of Registrable Securities of the requesting Investor
Group, not to be unreasonably withheld or delayed.  Without limiting the foregoing, it is
expressly acknowledged that the Holders may withhold their approval in any
event that the underwriter proposed by the Company proposes compensation that
is not competitive with other comparable underwriters.

2.2          Piggyback Registrations

(a)           Participation

Each
time the Company decides to file a registration statement under the Securities
Act (other than an Initial Public Offering that is not a Qualified Public
Offering (unless the proposed aggregate gross offering price of the securities
to be sold by selling stockholders participating in such Initial Public
Offering is greater than $1,000,000), a Qualified Public Offering,
registrations on Forms S-4 or S-8 or any successor form thereto, dividend or
interest reinvestment plans on Forms S-1 or S-3 or any successor form thereto,
and a Demand Registration) covering the offer and sale by the Company or any of
its stockholders of any of its equity securities for cash (a “Piggyback
Registration”), the Company shall give written notice thereof to all
Holders of outstanding Registrable Securities promptly, but in any event at
least ten (10) Business Days before the anticipated filing date.  Subject to Section 2.2(b),
the Company shall include in such Registration 

 9
 

Statement such
shares of Registrable Securities for which it has received written requests to
register such shares within fifteen (15) days after such written notice has
been given.  If the Registration Statement is to cover an underwritten
offering, such Registrable Securities shall be included in the underwriting on
the same terms and conditions as the securities otherwise being sold through
the underwriters.  The Holders of
Registrable Securities will be permitted to withdraw all or part of the
Registrable Securities from a Piggyback Registration at any time prior to the
effective date of such Piggyback Registration.

(b)           Underwriter’s
Cutback

If
in the good faith judgment of the managing underwriter of such offering the
inclusion of all of the shares of Registrable Securities and any other Common
Stock requested to be registered would interfere with the successful marketing
of such offering, then the number of shares of Registrable Securities and other
Common Stock to be included in the offering shall be reduced to such smaller
number with the participation in such offering to be in the following order of
priority:  (i) first, the shares of
Common Stock which the Company proposes to sell for its own account, if any,
(ii) second, the shares of Class D Registrable Stock and Acquisition Securities
requested to be included in such registration, if any, each as required under
the Class D Investor Rights Agreement, (iii) third, the shares of
Registrable Securities requested to be included in such registration, pro rata among the respective Holders thereof on the basis
of the number of shares of Registrable Securities that each such Holder of
Registrable Securities has requested the Company to include in such
registration, and (iv) fourth, any other shares of Common Stock requested to be
included.

2.3          Form S-3
Registration

(a)           Initiation

If
the Company shall receive from any Investor Group a written request that the Company effect a registration on
Form S-3 with respect to all or a part of the Registrable Securities
owned by such Investor Group Holder(s), the Company shall use its commercially
reasonable efforts to effect such registration of such Holders’ Registrable
Securities as are specified in such request, together with all or such portion
of the Registrable Securities of any other Holder or Holders of Registrable
Securities joining in such request pursuant to Section 2.3(e).  The Company shall keep such Form S-3
Registration Statement required by this Section 2.3(a) continuously
effective, supplemented, amended and current as required by and subject to the
provisions of Section 2.5 hereof and in conformity with the requirements
of this Agreement, the Securities Act and the policies, rules and regulations
of the SEC as announced from time to time, until the first to occur of (i) the
date on which the Registrable Securities registered on such Form S-3
Registration Statement have been sold pursuant to such Form S-3 Registration
Statement or (ii) 180 days from the date the Form S-3 Registration Statement
was declared effective by the SEC, provided that such 180-day period
shall be extended on a day-for-day basis for each day that the Registration
Statement and related Prospectus were not available for use by the Holders.

(b)           Number
of S-3 Registrations

No
more than two (2) requests for an S-3 Registration per Investor Group shall be
required to be provided by the Company, and no more than one request for an S-3
Registration may 

 10
 

be made pursuant
to Section 2.3(a) during any consecutive twelve (12) month period; provided,
however, that any such registration shall not be counted as one of the
two (2) S-3 Registrations unless the Registration Statement includes at least
75% of the Registrable Securities requested to be registered pursuant to an S-3
Registration after the underwriter’s cutback pursuant to Section 2.3(f).

(c)           Limitations

Notwithstanding
Section 2.3(a), the Company shall not be obligated to effect any such
S-3 Registration pursuant to this Section 2.3:  (i) if Form S-3 is not
available for such offering by the Holders of Registrable Securities or
(ii) if the requesting Investor Group and the Holders participating in
such registration in accordance with Section 2.3(e), collectively,
propose to sell Registrable Securities at an aggregate gross offering price to
the public of less than $15,000,000.  The Company, however, shall not be required
to comply with a demand for Registration pursuant to Section 2.3(a) if
the Company is, at the time such request is received, intends in good faith to
file a Registration Statement that would allow Holders of Registrable
Securities to participate under Section 2.2 within sixty (60) days
after such request, provided that if the Company does not file a Registration
Statement based on the foregoing, or if less than 75% of the Registrable
Securities requested by such Holders to be registered are included in such
Registration Statement, the Holders’ requests which were rejected shall not
count towards the total number of requests permitted by Section 2.3(b).

(d)           S-3
Registrations Not Demand Registrations

Registrations
effected pursuant to this Section 2.3 shall not be counted as
Demand Registrations effected pursuant to Section 2.1.

(e)           Participation

The Company shall
give written notice to all Holders of Registrable Securities and Class D
Registrable Stock within five (5) Business Days upon receipt of a request for
an S-3 Registration pursuant to Section 2.3(a) above.  The Company shall, subject to Section
2.3(f) below, include in such S-3 Registration such shares of Registrable
Securities for which it has received written requests to register such shares
within fifteen (15) days after such written notice has been given.  No shares of Common Stock or other securities
(other than, to the extent required by the Class D Investor Rights Agreement,
the Class D Registrable Stock) to be sold by the Company or any Holder of
shares of Common Stock or other securities of the Company (other than the
Holders of Registrable Securities and Class D Registrable Stock) shall be
included in any Registration effected pursuant to this Section 2.3.

(f)            Underwriter’s
Cutback

If
the public offering of Registrable Securities pursuant to this Section 2.3
is to be underwritten and, in the good faith judgment of the managing
underwriter, the inclusion of all the Registrable Securities and Class D
Registrable Stock requested to be registered in such offering would interfere
with the successful marketing of such offering, then the Company will include
in such registration, prior to the inclusion of Registrable Securities, to the
extent required by the Class D Investor Rights Agreement, any shares of Class D
Registrable Stock and then, prior to the 

 11
 

inclusion of any
securities that are not shares of Class D Registrable Stock or Registrable Securities,
the number of shares of Registrable Securities requested to be included that in
the opinion of such underwriters can be sold in an orderly manner within the
price range of such offering, pro rata among
the respective holders thereof on the basis of the number of shares of
Registrable Securities that each such Holder has requested the Company to
include in such registration.

2.4          Right to Defer
Registration

Notwithstanding
anything set forth in this Agreement, the Company shall have the right once per
calendar year to delay the filing of a Registration Statement pursuant to this
Agreement and to suspend the effectiveness of any such Registration Statement
for a reasonable period of time (not to exceed one hundred twenty (120) days)
if the Company furnishes to the selling Holders a certificate signed by an
officer of the Company stating that the Company has determined in good faith
that effecting such registration or offering at such time would adversely
affect a financing, acquisition or disposition of assets, distribution rights
or stock, merger or other comparable transaction or would require the Company
to make public disclosure of information the public disclosure of which would
have a material adverse effect upon the Company; provided that in either case
the Company had actively employed in good faith commercially reasonable efforts
to cause such Registration Statement to be declared effective prior to the
occurrence of such event; provided further, that such one hundred twenty (120)
day period shall terminate on such earlier time as such transaction is
consummated or no longer proposed or the material information has been made
public.  If the Company postpones or
suspends the filing of a Registration Statement, it will notify the holders of
Registrable Securities in writing of the postponement and the proposed length
of the postponement or suspension and shall promptly notify such holders in
writing when the events or circumstances permitting such postponement or
suspension have ended.  Should the Company
avail itself of the right to so delay filing or suspend effectiveness of a
Registration Statement, such delay or suspension shall apply only so long as
the condition or other circumstance that gave rise to the Company’s
determination regarding the material adverse effect is continuing, but in no
event shall such period exceed one hundred twenty (120) days.

2.5          Hold-Back Agreements

(a)           The
Company agrees not to effect any public sale or distribution of its Common
Stock during the 30-day period prior to, and during the ninety (90) day
period after, the effective date of each underwritten offering made pursuant to
a Registration, if so requested in writing by the managing underwriter of any
offering effected pursuant to this Agreement (except as part of such
underwritten offering or pursuant to registrations on Forms S-4 or S-8).

(b)           For
so long as a Holder of Registrable Securities and any of its Affiliates own,
directly or indirectly, Registrable Securities representing 50% or more of the
Company’s outstanding Common Stock (on an as-converted basis), the Holders of
Registrable Securities agree not to offer, sell, transfer or otherwise dispose
of the Registrable Securities other than to any of their Permitted Transferees,
or make any demand for, or exercise any right with respect to, the Registration
of Registrable Securities:  (i) with
respect to an Initial Public Offering, for a period of up to one hundred eighty
(180) days (or such shorter period applicable to executive officers, directors
or 5% or greater stockholders of the Company who collectively hold 50% or more
of the Equity Securities collectively held by the entire group of executive
officers, directors and 5% or greater stockholders of the Company) following
the effective date of a registration statement relating to any Initial Public
Offering, if requested in writing by the managing underwriter of such offering,
or (ii) with respect to any public offering of Common Stock of the Company
(other than the Initial Public Offering), for a period of up to ninety (90)
days (or such shorter period applicable to executive officers, directors or 5%
or greater stockholders of the Company who collectively hold 50% or more of the
Equity Securities collectively held by the entire group of executive officers, directors
and 5% or 

 12
 

greater stockholders of the Company) after any such public offering of
Common Stock of the Company, if requested in writing by the managing
underwriter of such offering; provided, however, that if such managing
underwriter or other party with the requisite authority waives any of the
foregoing restrictions for executive officers, directors or 5% or greater
stockholders of the Company who collectively hold 50% or more of the Equity
Securities collectively held by the entire group of executive officers,
directors and 5% or greater stockholders of the Company as a group following
such Initial Public Offering or other public offering, as applicable, the
Holders of Registrable Securities shall immediately be released from the
restrictions set forth in this Section 2.5(b) to the same extent that
such restrictions are waived for such group of executive officers, directors
and 5% or greater stockholders of the Company.

(c)           The
Holders of Registrable Securities that are excluded from any Registration
pursuant to this Agreement as a result of the preferences of the Class D
Registrable Stock also agree not to publicly offer or sell such excluded
Registrable Securities for a period (not to exceed at least 30 days prior to
the effective date of the applicable Registration Statement and 180 days
thereafter) that the managing underwriter reasonably determines is necessary in
order to effect the underwritten public offering of the Class D Registrable
Stock in which such Registrable Securities were excluded from Registration.

2.6          Registration Procedures

In
connection with any Registration Statement and any related Prospectus required
by this Agreement, the Company shall prepare and file with the SEC as soon as
practicable a Registration Statement with respect to such Registrable
Securities and shall:

(a)           use
its commercially reasonable efforts to keep such Registration Statement
continuously effective and provide all requisite financial statements for the
periods specified in Sections 2.1(a) or 2.3(a) of this Agreement,
as applicable; provided, however, that before filing a Registration Statement
or Prospectus or any amendments or supplements thereto (other than any
amendments or supplements resulting from the incorporation by reference in such
Registration Statement or Prospectus to the Company’s periodic and current
reports filed with the SEC under the Exchange Act), the Company will furnish to
the holders of the Registrable Securities covered by such Registration
Statement and the managing underwriters, if any, copies of all such documents
proposed to be filed, and will provide such holders and such underwriters a
reasonable period of time to review and comment on such documents.  The Company will not file any such Registration
Statement or amendment thereto or Prospectus or any supplement thereto (other
than any amendments or supplements resulting from the incorporation by
reference in such Registration Statement or Prospectus to the Company’s
periodic and current reports filed with the SEC under the Exchange Act) that
contains disclosure regarding the Holders of an Investor Group that such
Investor Group reasonably objects to on a timely basis after delivery of the
form and substance of such disclosure to such Investor Group.  Upon the occurrence of any event that would
cause any 

 13
 

such Registration Statement or the Prospectus contained therein (A) to
contain an untrue statement of material fact or omit to state any material fact
necessary to make the statements therein, in light of the circumstances under
which they were made, not misleading or (B) not to be effective and usable for
resale of Registrable Securities during the period required by this Agreement,
the Company shall file promptly an appropriate amendment to such Registration
Statement curing such defect, and, if SEC review is required, use its
commercially reasonable efforts to cause such amendment to be declared
effective by the SEC as soon as practicable;

(b)           prepare
and file with the SEC such amendments and post-effective amendments to the
applicable Registration Statement as may be necessary to keep such Registration
Statement effective for the applicable period set forth in Sections 2.1(a)
or 2.3(a) hereof, as the case may be; cause the Prospectus to be
supplemented by any required prospectus supplement, and as so supplemented to
be filed pursuant to Rule 424 (or any similar provision then in effect) under
the Securities Act, and comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such Registration
Statement during the applicable period in accordance with the intended method
or methods of distribution by the sellers thereof set forth in such
Registration Statement as so amended or supplement to the Prospectus;

(c)           promptly
notify the selling Holders of Registrable Securities and the managing
underwriter, if any, and (if requested by any such Person) confirm such advice
in writing,

(1)           when
the Prospectus or any supplement or post-effective amendment has been filed,
and, with respect to the Registration Statement or any post-effective
amendment, when the same has become effective,

(2)           of
any request by the SEC for amendments or supplements to the Registration
Statement or the Prospectus or for additional information,

(3)           of
the issuance by the SEC or any other federal or state governmental authority of
any stop order suspending the effectiveness of the Registration Statement or
the initiation of any proceedings for that purpose,

(4)           of
the receipt by the Company of any notification with respect to the suspension
of the qualification of the Registrable Securities for sale in any jurisdiction
or the initiation or threatening of any proceeding for such purpose, and

(5)           of
the existence of any fact or the happening of any event which results in the Registration
Statement, the Prospectus or any amendment or supplement thereto, or any
document incorporated therein by reference containing a Misstatement, and

(6)           of
the Company’s determination that a post-effective amendment to a Registration
Statement would be appropriate;

(d)           make
every commercially reasonable effort to obtain the withdrawal or lifting of any
order suspending the effectiveness of the Registration Statement at the
earliest possible time;

 14
 

(e)           if
requested by the managing underwriter or a Holder of Registrable Securities
being sold in connection with an underwritten offering, promptly incorporate in
a supplement or post-effective amendment such information as the managing
underwriter and the Holders of a majority of the Registrable Securities being
sold agree should be included therein relating to the sale of the Registrable
Securities, including, without limitation, information with respect to the
number of shares of Registrable Securities being sold to underwriters, the
purchase price being paid therefor by such underwriters and with respect to any
other terms of the underwritten offering of the Registrable Securities to be
sold in such offering; and make all required filings of such supplement or
post-effective amendment as soon as notified of the matters to be incorporated
in such supplement or post-effective amendment;

(f)            furnish
to each selling Holder of Registrable Securities and the managing underwriter,
without charge, before filing with the SEC, copies of any Registration
Statement or any Prospectus included therein or any amendments or supplements
to any such Registration Statement or Prospectus (not including any Form 8-K,
Form 10-Q, Form 10-K, Proxy Statement or other documents incorporated by
reference after the initial filing of such Registration Statement), which
documents will be subject to the review and comment of such Holders in
connection with such sale, if any, for a period of three (3) Business Days, and
the Company will not file any such Registration Statement or Prospectus or any
amendment or supplement to any such Registration Statement or Prospectus (not
including any Form 8-K, Form 10-Q, Form 10-K, Proxy Statement or other
documents incorporated by reference after the initial filing of such
Registration Statement) to which such Holders shall reasonably object within
three (3) Business Days after the receipt thereof;

(g)           furnish
to each selling Holder of Registrable Securities and the managing underwriter,
without charge, at least one copy of the Registration Statement, as first filed
with the SEC, and of each amendment thereto, including all documents
incorporated by reference therein and all exhibits (including exhibits
incorporated therein by reference);

(h)           deliver
to each selling Holder of Registrable Securities and the underwriters, if any,
without charge, as many copies of each Prospectus (and each preliminary
prospectus) and any amendment or supplement thereto as such Persons may
reasonably request (the Company hereby consenting to the use of each such
Prospectus (or preliminary prospectus) by each of the selling Holders of
Registrable Securities and the underwriters, if any, in connection with the
offering and sale of the Registrable Securities covered by such Prospectus (or
preliminary prospectus) in accordance with applicable law and the disclosure
set forth in such Prospectus);

(i)            prior
to any public offering of Registrable Securities, register or qualify or
cooperate with the selling Holders of Registrable Securities, the underwriters,
if any, and their respective counsel in connection with the registration,
exemption from registration or qualification of such Registrable Securities for
offer and sale under the securities or blue sky laws of such jurisdictions as
such selling Holders or underwriters may designate in writing, keep each such
registration or qualification (or exemption therefrom) effective during the
period such Registration Statement is required to be kept effective and do
anything else reasonably necessary or advisable to enable the disposition in
such jurisdictions of the Registrable Securities covered by the Registration
Statement; provided that the Company shall not be required to qualify generally
to do business in any jurisdiction where it is not then so qualified or to take
any action which would subject it to general service of process in any such
jurisdiction where it is not then so subject;

 15

                 

(j)            cooperate
with the selling Holders of Registrable Securities and the managing
underwriter, if any, to facilitate the timely preparation and delivery of
certificates not bearing any restrictive legends representing the Registrable
Securities to be sold and cause such Registrable Securities to be in such
denominations and registered in such names as the managing underwriter may
reasonably request at least three (3) Business Days prior to any sale of
Registrable Securities to the underwriters;

(k)           cause
the Registrable Securities covered by the Registration Statement to be
registered with or approved by such other governmental agencies or authorities
as may be necessary to enable the selling Holders of Registrable Securities
thereof or the underwriters, if any, to consummate the disposition of such
Registrable Securities;

(l)            if
the Registration Statement or the Prospectus contains a Misstatement, or if the
Company determines that a post-effective amendment to the Registration
Statement would be appropriate, prepare a supplement or post-effective
amendment to the Registration Statement or the related Prospectus or any
document incorporated therein by reference or file any other required document
so that, as thereafter delivered to the purchasers of the Registrable
Securities, the Prospectus will not contain a Misstatement; the Company will
use its commercially reasonable efforts to cause any post-effective amendment
so filed to be declared effective by the SEC;

(m)          cause
all Registrable Securities covered by the Registration Statement to be listed
on the New York Stock Exchange, Nasdaq or any other comparable exchange or
trading market, consistent with the listing of the Company’s Common Stock;

(n)           provide
a transfer agent and registrar for all Registrable Securities registered
pursuant hereunder and a CUSIP number for all Registrable Securities, in each
case not later than the effective date of the Registration Statement; and
provide the transfer agent, if necessary, with printed certificates for
Registrable Securities in a form eligible for deposit with The Depository Trust
Company;

(o)           in
the event of any underwritten public offering, enter into and perform its
obligations under an underwriting agreement in customary form with the managing
underwriter of such offering and perform all other action as are customary in
such an underwritten public offering, including reasonable participation of
senior management in a “road show”;

(p)           enter
into such agreements (including an underwriting agreement, if such offering is
underwritten) and do anything else reasonably necessary or advisable in order
to expedite or facilitate the disposition of such Registrable Securities in
accordance with applicable law and the disclosure set forth in the applicable
Registration Statement, and in such connection:

(1)           make
such representations and warranties to the Holders of such Registrable
Securities and the underwriters, if any, with respect to the business of the
Company and its subsidiaries, the Registration Statement, Prospectus and
documents incorporated by reference or deemed incorporated by reference, if
any, in each case, in form, substance and scope as are customarily made by
issuers in the same type of offering;

(2)           obtain
opinions of counsel to the Company and updates thereof (which counsel and
opinions (in form, scope and substance) shall be reasonably satisfactory 

 16
 

                 

to the managing underwriter and the Holders of a majority of the
Registrable Securities being sold), addressed to each selling Holder and the
underwriter covering the matters customarily covered in opinions delivered to
underwriters in underwritten offer­ings and such other matters as may be
reasonably requested by such Holders or underwriters (except that the opinion
shall include a 10b-5 negative assurance letter only in connection with an
underwritten offering);

(3)           for
an underwritten registration only, obtain “comfort” letters and updates thereof
from the Company’s independent certified public accountants (and, if necessary,
any other certified public accountants of any subsidiary of the Company or of
any business acquired by the Company for which financial statements and
financial data is, or is required to be, included in the Registration
Statement) addressed to the selling Holders of Registrable Securities registered
thereunder and the underwriters, if any, such letters to be in customary form
and covering matters of the type customarily covered in “comfort” letters by
underwriters in connection with underwritten offerings; and

(4)           deliver
such documents and certificates as may be reasonably requested by the Holders
of a majority of the Registrable Securities being sold and the managing
underwriter, if any, to evidence compliance with clause (1) above and with any
customary conditions contained in the underwriting agreement or other agreement
entered into by the Company.

The above shall be
done at each closing under such underwriting or similar agreement, and upon
effectiveness of the Registration Statement if such registration is not
underwritten;

(q)           following
reasonable advance notice, make available for inspection by representatives of
the Holders of a majority of the Registrable Securities being sold, any
underwriter participating in any disposition pursuant to such Registration
Statement, and any attorney or accountant retained by the selling Holders of
Registrable Securities or any such underwriter, all relevant financial and
other records and pertinent corporate documents and properties of the Company,
as shall be reasonably deemed necessary the such Holder, and cause the Company’s
officers, directors and employees to supply all relevant information,
reasonably requested by any such selling Holder, underwriter, attorney or
accountant in connection with the Registration as is customary for similar due
diligence examinations during normal business hours at the offices where such
information is normally kept; provided that any records, information or
documents that are designated by the Company in writing as confidential shall
be kept confidential by such Persons unless disclosure of such records,
information or documents is required by court or administrative order;

(r)            comply
with all applicable rules and regulations of the SEC, and make generally
available to its security Holders earnings statements satisfying the provisions
of Section 11(a) of the Securities Act, and Rule 158 thereunder (or any similar
rule promulgated under the Securities Act), no later than forty-five (45) days
after the end of any twelve (12) month period (or ninety (90) days, if such period
is a fiscal year) (x) commencing at the end of any fiscal quarter in which
Registrable Securities are sold to underwriters in an underwritten offering,
or, if not sold to underwriters in such an offering, (y) beginning with the
first month of the Company’s first fiscal 

 17
 

                 

quarter commencing after the effective date of the Registration
Statement, which statements shall cover said twelve (12) month periods.

(s)           Cooperate
and assist in any filings required to be made with NASD and in the performance
of any due diligence investigation by any underwriter (including any “qualified
independent underwriter” that is required to be retained in accordance with the
rules and regulations of the NASD).

2.7          Registration Expenses

Pursuant to a Registration, all Registration Expenses incurred in
connection with the Company’s performance of or compliance with this Agreement
will be borne by the Company, regardless of whether a Registration Statement
becomes effective.

2.8          Indemnification

(a)           Indemnification
by Company

The
Company agrees to indemnify and hold harmless each Indemnified Holder from and
against all Claims arising out of or based upon any Misstatement or alleged
Misstatement in the Registration Statement as it is declared effective, any
issuer free-writing prospectus (as defined in Rule 433(h) of the Securities
Act) or any Prospectus included in such effective Registration Statement or
prospectus supplement used to sell the Registrable Securities by such
Indemnified Holder, except insofar as such Misstatement or alleged Misstatement
was based upon or reliance upon information furnished in writing to the Company
by such Indemnified Holder expressly for use in the document containing such
Misstatement or alleged Misstatement.  The
foregoing notwithstanding, the Company shall not be liable to the extent that
any such Claim arises out of or is based upon a Misstatement or alleged
Misstatement made in any preliminary prospectus if:  (i) such Indemnified Holder failed to send or
deliver a copy of the Prospectus with or prior to the delivery of written
confirmation of the sale of Registrable Securities giving rise to such Claim
and (ii) the Prospectus would have corrected such untrue statement or
omission.  In addition, the Company shall
not be liable to the extent that any such Claim arises out of or is based upon
a Misstatement or alleged Misstatement in a Prospectus, (x) if such
Misstatement or alleged Misstatement is corrected in an amendment or supplement
to such Prospectus and (y) having previously been furnished by or on behalf of
the Company with copies of the Prospectus as so amended or supplemented, such
Indemnified Holder thereafter fails to deliver such Prospectus as so amended or
supplemented prior to or concurrently with the sale to the person who purchased
a Registrable Security from such Indemnified Holder and who is asserting such
Claim.

The
rights of any Holder of Registrable Securities hereunder will not be exclusive
of the rights of any Holder of Registrable Securities under applicable law or
any other agreement or instrument of any Holder of Registrable Securities to
which the Company is a party.  Nothing in
such other agreement or instrument will be interpreted as limiting or otherwise
adversely affecting a Holder of Registrable Securities hereunder and nothing in
this Agreement will be interpreted as limiting or otherwise adversely affecting
the Holder of Registrable Securities’ rights under any such other agreement or
instrument; provided, however, that no Indemnified Holder will be entitled
hereunder to recover more than its indemnified Claims.  The indemnity agreement contained in this 

 18
 

                 

Section 2.8(a)
shall not apply to amounts paid in settlement of any such loss, claim, damage,
liability or action if such settlement is effected without the consent of the
Company (not to be unreasonably withheld or delayed).

(b)           Indemnification
Procedures

If
any action or proceeding (including any governmental investigation or inquiry)
shall be brought or asserted against an Indemnified Holder in respect of which
indemnity may be sought from the Company, such Indemnified Holder shall
promptly notify the Company in writing, and the Company shall assume the
defense thereof, including the employment of counsel reasonably satisfactory to
such Indemnified Holder and the payment of all reasonable expenses. Such
Indemnified Holder shall have the right to employ separate counsel in any such
action and to participate in the defense thereof, but the fees and expenses of
such separate counsel shall be the expense of such Indemnified Holder unless
(i) the Company has agreed to pay such fees and expenses, (ii) the Company
shall have failed to assume the defense of such action or proceeding within
thirty (30) days of receipt of notice of a claim from such Indemnified Holder
or (iii) the named parties to any such action or proceeding (including any
impleaded parties) include both such Indemnified Holder and the Company, and
such Indemnified Holder shall have been advised by counsel that there may be
one or more legal defenses available to such Indemnified Holder that are
different from or additional to those available to the Company.  If such Indemnified Holder notifies the
Company in writing that it elects to employ separate counsel at the reasonable expense
of the Company as permitted by the provisions of the preceding sentence, the
Company shall not have the right to assume the defense of such action or
proceeding on behalf of such Indemnified Holder.  The foregoing notwithstanding, the Company
shall not be liable for the reasonable fees and expenses of more than one
separate firm of attorneys at any time for such Indemnified Holder any other
Indemnified Holders (which firm shall be designated in writing by such
Indemnified Holders) in connection with any one such action or proceeding or separate
but substantially similar or related actions or proceedings in the same
jurisdiction arising out of the same general allegations or circumstances.  The Company shall not be liable for any
settlement of any such action or proceeding effected without its written
consent, but if settled with its written consent, or if there be a final
judgment for the plaintiff in any such action or proceeding, the Company agrees
to indemnify and hold harmless such Indemnified Holders from and against any
loss or liability by reason of such settlement or judgment to the extent such
Indemnified Holder is entitled to indemnification under Section 2.8(a).

(c)           Indemnification
by Holder of Registrable Securities

Each
Holder of Registrable Securities agrees severally and not jointly to indemnify
and hold harmless the Company, its directors and officers and each Person, if
any, who controls the Company within the meaning of either Section 15 of the
Securities Act or Section 20 of the Exchange Act to the same extent as the foregoing
indemnity from the Company to such Holder, but only with respect to information
relating to such Holder furnished in writing by such Holder expressly for use
in any Registration Statement, Prospectus or preliminary prospectus; provided,
however, that the indemnity agreement contained in this Section 2.8(b)
shall not apply to amounts paid in settlement of any such Claim if such
settlement is effected without the consent of the Holder of Registrable
Securities (not to be unreasonably withheld or delayed).  In no event, however, shall the liability
hereunder of any selling Holder of Registrable Securities be greater than the
dollar 

 19
 

                 

amount of the net
proceeds received by such Holder upon the sale of the Registrable Securities
giving rise to such indemnification obligation. 
In case any action or proceeding shall be brought against the Company or
its directors or officers or any such controlling person, in respect of which
indemnity may be sought against a Holder of Registrable Securities, such Holder
shall have the rights and duties given the Company and the Company or its
directors or officers or such controlling person shall have the rights and
duties given to each Holder by Sections 2.8(a) and 2.8(b) above.

(d)           Contribution

If
the indemnification provided for in this Section 2.8 is unavailable to
an indemnified party under Section 2.8(a) or Section 2.8(c) above
(other than by reason of exceptions provided in those Sections) in respect of
any Claims referred to in such Sections, then each applicable 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 Claims in
such proportion as is appropriate to reflect the relative fault of the Company
on the one hand and of the indemnified party on the other in connection with
the statements or omissions which resulted in such Claims as well as any other
relevant equitable considerations.  The amount paid or payable by a party
as a result of the Claims referred to above shall be deemed to include, subject
to the limitations set forth in Section 2.8(b), any legal or other fees
or expenses reasonably incurred by such party in connection with investigating
or defending any action or claim.  The
relative fault of the indemnifying party on the one hand and of the indemnified
party on the other shall be determined by reference to, among other things,
whether the Misstatement or alleged Misstatement 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 Misstatement or alleged Misstatement.  The Company and each Holder of Registrable
Securities agree that it would not be just and equitable if contribution
pursuant to this Section 2.8(d) were determined by pro rata
allocation or by any other method of allocation which does not take account of
the equitable considerations referred to above. 
Notwithstanding the provisions of this Section 2.8(d), a selling
Holder of Registrable Securities shall not be required to contribute any amount
in excess of the amount by which the net proceeds of the securities sold by
such selling Holder of Registrable Securities to the public exceeds the amount
of any damages which such selling Holder of Registrable Securities has
otherwise been required to pay by reason of such Misstatement or alleged
Misstatement.  No party guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any party who was not
guilty of such fraudulent misrepresentation.

The
provision of this Section 2.8 shall survive the completion of any
offering of Registrable Securities on a Registration Statement.

2.9          Requirements for
Participation in Underwritten Offerings

No
Person may participate in any underwritten offering pursuant to a Registration
hereunder unless such Person (a) agrees to sell such Person’s Registrable
Securities on the basis provided in any underwriting arrangements approved by
the Persons entitled hereunder to approve such arrangements and (b) completes
and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such
underwriting arrangements.

 20
 

                 

2.10        Treatment of Acquisition Securities

The Company may agree to register, upon the limited
basis specified herein, up to 5% of the outstanding shares of Common Stock (on
a fully-diluted basis giving effect to the conversion or exercise of all
outstanding derivative securities) issued to unrelated third parties as
consideration for acquisitions of assets and businesses (the “Acquisition
Securities”), provided that the Company shall not agree to register
any such Acquisition Securities unless such agreement specifically
provides that:

(a)           the Holders of such Acquisition Securities
may not participate in any S-3 Registration or Demand Registration without the
consent of the Holders of a majority of the shares of the Registrable
Securities requesting such registration; provided, however, that
such consent shall not be required if the Holders of such Acquisition
Securities agree in any S-3 Registration or Demand Registration that the
Holders of Registrable Securities have absolute priority over them to be
included in such an offering if the offering is subject to an underwriter’s
cutback;

(b)           the Holders of such Acquisition Securities
may not participate in any Piggyback Registration if the sale of Registrable
Securities is to be underwritten unless, if the managing underwriter limits the
total number of shares to be sold, the Holders of such Acquisition Securities
agree that in any S-3 Registration or Demand Registration the Holders of
Registrable Securities have absolute priority over them to be included in such
an offering if the offering is subject to an underwriter’s cutback;

(c)           all Acquisition Securities excluded from any
Registration as a result of the foregoing limitations may not be publicly
offered or sold for a period (not to exceed at least 30 days prior to the
effective date of the Registration Statement and (i) 180 days thereafter for
the Initial Public Offering or (ii) 90 days thereafter for any public offering
other than the Initial Public Offering) that the managing underwriter
reasonably determines is necessary in order to effect the underwritten public
offering of Registrable Securities registered pursuant to this Agreement; and

(d)           the Company may grant to the Holders of
Acquisition Securities in any such agreement the right, beginning twelve (12)
months after the completion of a Qualified Public Offering, to have such
Acquisition Securities be covered by a registration statement providing for the
resale of such shares on a non-underwritten basis, provided that any
such agreement shall specifically (i) permit the Holders of Registrable
Securities to participate in such resale registration at the discretion of such
Holders and (ii) provide that no more than one such request for registration
may be made by the holders of Acquisition Securities considered together during
any consecutive twelve (12) month period.

2.11        Exchange Act Reporting Requirements

The Company shall use its commercially reasonable efforts to
take such action and file such information, documents and reports, as shall
hereafter be required by the SEC as a condition to the availability of Rule 144
under the Securities Act (or any successor provision).  The Company will reasonably cooperate with
any Holder of Registrable Securities (including without limitation by making
such representations as any such Holder may reasonably request), all to the
extent required from time to time to enable such Holder to sell Registrable
Securities 

 21
 

                 

without registration under the Securities Act within the limitations of the
exemptions provided by Rules 144 and 144A (including without limitation the
requirements of Rule 144A(d)(4)).

2.12        Termination of
Registration Rights

With
respect to each Holder of Registrable Securities, the registration and other
rights set forth in this Agreement shall expire upon the earlier of (a) the
third anniversary of a Qualified Public Offering, (b) the date such Holder
sells all Registrable Securities owned by such Holder pursuant to an effective
Registration Statement or (c) the date such Holder, without registration under
the Securities Act, is able to sell all Registrable Securities owned by such
Holder in any ninety (90) day period pursuant to Rule 144 without reliance on
Rule 144(k).

3.                                      Drag-Along Rights

(a)           In
connection with a sale of substantially all of the Company’s voting securities
to a third party (a “Drag-Along Sale”), at the Company’s election
and in its sole discretion, the Company shall have the right to cause all
Holders of New Preferred Shares or Registrable Securities to sell their
securities in such sale to such third party upon the same terms and conditions
and at a price equal to the per share price paid to the other stockholders in
such sale as determined with reference to the Common Stock equivalent of such
shares (the “D-A Sale Price”); provided, however, that if
the D-A Sale Price is less than the Liquidation Preference, then the Holders of
New Preferred Shares shall be entitled to the Liquidation Preference rather
than the D-A Sale Price; and provided, further, that if the
Drag-Along Sale is for securities (other than securities that are publicly
traded and not subject to any restrictions on transfer by law, agreement or
otherwise) or other property for which there is no readily available market
price, the Holders of New Preferred Shares shall be entitled to an amount equal
to the Cash Value of such securities or property.

(b)           In
connection with any Drag-Along Sale, (i) the Company shall bear all reasonable
costs and expenses incurred by the Holders of New Preferred Shares or
Registrable Securities, including, without limitation, reasonable fees of their
counsel, (ii) the Holders shall not be required to make any representations or
warranties in any such Drag-Along Sale other than representations relating to
title and due authority, and (iii) the Holders shall not be responsible for any
indemnification obligations in such Drag-Along Sale other than indemnification
obligations related to breaches of any representations or warranties relating
to title and due authority.

(c)           The
obligations of the Holders of the New Preferred Shares and Registrable  Securities set forth in this Section 3 shall
terminate upon the completion of an Initial Public Offering.

4.                                      Investors’ Right of First Offer

4.1          ROFO Notice

Only after the Company has issued New
Preferred Shares with an aggregate Liquidation Preference of $260,000,000, if
the Company desires to issue or sell any shares of New Preferred Shares, the
Company shall give at least twenty-five (25) days’ prior written notice to the
Investor Group Holders (the “ROFO Notice”) to such effect identifying
the amount of New 

 22
 

                 

Preferred Shares to be sold, the price at which the Company proposes to
sell the New Preferred Shares (the “ROFO Price”) and the proposed
closing date for such proposed sale and describing any other material terms and
conditions of such proposed sale, including the conversion price.  Each Investor Group Holder shall be entitled
to apportion the right of first offer hereby granted to it among itself and its
Affiliates in such proportions as it deems appropriate, provided that such
Affiliate is neither a Direct Competitor of the Company nor was at any time a
holder of the Class D Preferred Stock.

4.2          Class F Preferred Shelf
Offered Shares

During
the first year after the initial issuance of the Class F Preferred Shares, if
the Company desires to issue or sell any shares of New Preferred Shares, the
Company must offer the first $25,000,000 of the additional issuance to the
Investor Group Holders of the Class F Preferred Shares (the “Class F
Preferred Shelf”).  If the Investor
Group Holders of the Class F Preferred Shares elects not to purchase any or all
of the shares from the Class F Preferred Shelf that the Company desires to sell
(the “Rejected Class F Preferred Shelf”), then the Company must provide
the Investor Group Holders (other than the Investor Group Holders of the Class
F Preferred Shares) a ROFO Notice containing the same terms initially offered
to the Investor Group Holders of the Class F Preferred Shares.  Upon receipt of the ROFO Notice, such
Investor Group Holders and their respective Affiliates (provided that such
Affiliate is neither a Direct Competitor of the Company nor was at any time a
holder of the Class D Preferred Stock) shall initially have the first right and
option to purchase all of the shares of the Rejected Class F Preferred Shelf
offered for the same consideration, at the same purchase price and on the same
terms as specified in the ROFO Notice (and as the terms were originally offered
to the Investor Group Holders of the Class F Preferred Shares), exercisable for
twenty-five (25) Business Days after receipt of the ROFO Notice.  Failure of such Investor Group Holders to
respond to the ROFO Notice within such twenty-five (25) Business Day period
shall be deemed to constitute a notification to the Company of such Investor
Group Holder’s decision not to exercise the first right and option to purchase
the shares pursuant to the Rejected Class F Preferred Shelf under this Section
4.2.  Such Investor Group Holders may
exercise their right and option to purchase the Rejected Class F Preferred
Shelf shares pursuant to the procedures set forth in Section 4.3.

4.3          Offered Shares

(a)           Upon
receipt of the ROFO Notice, the Investor Group Holders and their respective
Affiliates (provided that such Affiliate is neither a Direct Competitor of the
Company nor was at any time a holder of the Class D Preferred Stock) shall
initially have the first right and option to purchase on a pro rata
basis (based on each Investor Group’s relative ownership of the outstanding New
Preferred Shares, and within each Investor Group, as determined by the Investor
Group Holders)  that portion of New
Preferred Shares to be offered (the “Offered Shares”) for the same
consideration, at the same purchase price and on the same terms as specified in
the ROFO Notice, exercisable for twenty-five (25) Business Days after receipt
of the Notice.  Failure of an Investor
Group Holder to respond to the Notice within such twenty-five (25) Business Day
period shall be deemed to constitute a notification to the Company of such
Investor Group Holder’s decision not to exercise the first right and option to
purchase the Offered Shares under this Section 4.  Any Investor Group Holder, or any of the
Investor Group Holder’s Affiliate (provided that such Affiliate is neither a
Direct Competitor of the Company nor was at any time a holder of the Class D 

 23
 

                 

Preferred Stock) may exercise its right and option to purchase such
Offered Shares by giving written notice of exercise to the Company within such
twenty-five (25) Business Day period, specifying the date (not later than three
(3) Business Days from the date of expiration of all applicable first rights
and options to purchase shares under this Section 4.3(a) upon which
payment of the purchase price for the shares purchased pursuant to this
paragraph shall be made.

(b)           At
the expiration of such twenty-five (25) Business Day period, the Company shall
promptly notify each Investor Group Holder that elects to purchase or acquire all
the shares available to it (each, a “Fully Exercising Investor”) of any
other Investor Group Holder’s failure to do likewise.  During the five (5) Business Day period
commencing after the Company has given such notice, each Fully Exercising
Investor may, by giving notice to the Company, elect to purchase or acquire, in
addition to the number of shares specified above on a pro rata
basis (based on the proportion of outstanding New Preferred Shares held by the
Investor Group of such Fully Exercising Investor to the outstanding New
Preferred Shares held by all Fully Exercising Investors of other Investor
Groups who wish to purchase such unsubscribed shares) that portion of the
Offered Shares for which the Investor Group Holders were entitled to subscribe but
that were not subscribed for by the Investor Group Holders.  Any Investor Group Holder, or any of the
Investor Group Holder’s Affiliates (provided that such Affiliate is neither a
Direct Competitor of the Company nor was at any time a holder of the Class D
Preferred Stock) may exercise its right and option to purchase such Offered
Shares by giving written notice of exercise to the Company within such five (5)
Business Day period, specifying the date (not later than three (3) Business
Days from the date of expiration of all applicable first rights and options to
purchase shares under this Section 4.3(b) upon which payment of the
purchase price for the shares purchased pursuant to this paragraph shall be
made.

4.4          Non-Cash Consideration

If the ROFO Price, or a portion of the ROFO
Price, involves consideration other than cash, the Investor Group Holders shall
have the right to purchase all or a portion of the Offered Shares for a cash
amount equal to the sum of the portion of such consideration which is cash plus
the Cash Value of the non-cash consideration.

4.5          Delivery of Shares

At the closing of the purchase by the
Investor Group Holder(s) of all or a portion of the Offered Shares, the Company
shall deliver to each purchasing Investor Group Holder or its Affiliates
certificates evidencing the Offered Shares, against payment of the purchase
price therefor in cash.

4.6          Subsequent Offers

The Company may, during the 150-day period
following the latest applicable expiration of the notice period in Section
4.3, offer the remaining unsubscribed portion of such Offered Shares to any
person or persons at a price not less than, and upon terms no more favorable to
the offeree than those specified in the ROFO Notice.  If the Company does not enter into an
agreement for the sale of the remaining Offered Shares within such period, or
if such agreement is not consummated within forty-five (45) days of the
execution thereof, the right provided in this 

 24
 

                 

Section 4 shall be deemed to be revived and
such remaining Offered Shares shall not be sold unless first reoffered to the
Investor Group Holders in accordance with this Section 4.

4.7          Right of First Offer
Adjustments

An
Investor Group Holder that exercises its right of first offer pursuant to this Section
4 (including pursuant to the Class F Preferred Shelf) shall receive shares
of the same class of Preferred Stock initially acquired by the Investor Group
of such Investor Group Holder, regardless of the class of New Preferred Shares
that the Company desires to issue.

4.8          Termination

The rights and obligations set forth in this Section
4 shall terminate upon the completion of a Qualified Public Offering.

5.                                      Preemptive Rights

5.1          So long as an Investor Group holds New Preferred Shares with an
aggregate liquidation preference of at least $50.0 million, if the Company
proposes to issue or sell any New Securities at a price less than the then Cash
Value of the New Securities, each Holder in such Investor Group shall have a
preemptive right to purchase a pro
rata share of such New
Securities proposed to be issued or sold in accordance with the terms of this Section
5.  For purposes of this Section
5.1, an Investor Group Holder’s pro
rata share is the ratio of
the number of shares of Common Stock held by such Investor Group Holder
immediately prior to the issuance or sale of New Securities (assuming the
conversion into the largest number of shares of Common Stock into which all
shares of New Preferred Shares held by such Investor could then be converted)
to the total number of shares of Common Stock outstanding immediately prior to
the issuance or sale of New Securities (assuming the conversion into the
largest number of shares of Common Stock into which all shares of capital stock
of the Company outstanding at such time could then be converted and including
all shares of Common Stock issued or issuable upon the exercise of any
outstanding warrants or options).  If any
Investor Group Holder fails to exercise his, her or its preemptive right to
purchase his, her or its full pro
rata share of New
Securities under this Section 5.1 (each, a “Non-Purchasing Holder”),
the other Investor Group Holders of eligible Investor Groups who exercise their
preemptive rights to purchase their full pro rata share of
New Securities (the “Participating Holders”) shall also have a right of
over-allotment to purchase New Securities not purchased by the Non-Purchasing
Holders, pro rata according to the shares of Common Stock
held by all such Participating Holders (assuming the conversion into the
largest number of shares of Common Stock into which all shares of New Preferred
Shares held by such Participating Holders could then be converted) or in such
other proportions as they may agree, within ten (10) Business Days after the
date such Non-Purchasing Holders fail to exercise their preemptive rights
hereunder to purchase his, her or its full pro rata share of
New Securities.

5.2          In the event the Company proposes to issue or sell New Securities, it
shall give each Investor Group Holder of an eligible Investor Group written
notice of its intention, describing the New Securities, their price and the
terms upon which the Company proposes to issue or sell the same.  Each such Investor Group Holder shall have
twenty-five (25) days after such notice is given (unless the Cash Value is
disputed, in which case the twenty-five (25) day period will be 

 25
 

                 

suspended until the Cash Value
is determined pursuant to the definition of Cash Value) to agree to purchase
such Investor Group 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.

5.3          In the event that the Investor Group
Holders of eligible Investor Groups fail to exercise fully all preemptive
rights within said twenty-five (25)-day period and after the expiration of the
ten (10)-day period for the exercise of the over-allotment provisions of
Section 5.1, the Company shall have ninety (90) days thereafter to sell the
remaining New Securities that the Investor Group Holders of eligible Investor
Groups do not elect to purchase upon exercise of the preemptive rights pursuant
to this Section 5, at a price and upon terms no more favorable to the
purchasers thereof than specified in the Company’s notice to the Investor Group
Holders pursuant to Section 5.2.  In the
event the Company has not sold all such remaining New Securities within such
ninety (90)-day period, the Company shall not thereafter issue or sell any New
Securities, without first again offering such securities to the Investor Group
Holders of eligible Investor Groups in the manner provided in Section 5.2.

5.4          The
rights and obligations set forth in this Section 5 shall terminate upon the
completion of a Qualified Public Offering.

6.                                      Transfer
Restrictions; Company’s Right of First Refusal

6.1          Securities Law
Compliance

No New Preferred Shares or Registrable
Securities may be Transferred by a Holder of such securities (other than
pursuant to an effective Registration Statement under the Securities Act)
unless such Holder first delivers to the Company an opinion of counsel, which
opinion and counsel shall be reasonably satisfactory to the Company (it being
agreed that the opinion of such Holder’s in-house counsel shall be satisfactory
to the Company), to the effect that such Transfer is not required to be
registered under the Securities Act.

6.2          Non-Transferability

(a)           Notwithstanding
Section 6.1, an Investor may not Transfer or cause to be transferred all
or any portion of such Investor’s New Preferred Shares or Registrable
Securities, except (i) to the extent required by law for regulatory purposes,
(ii) to any Person so long as (x) all voting, inspection, information, disposition and other significant matters
pertaining to the New Preferred Shares and Registrable Securities are
controlled by such Investor or the Person that controls all voting and other
significant matters of such Investor, if applicable, provided that (A) the
Investor transferring New Preferred Shares or Registrable Securities originally
purchased the New Preferred Shares or Registrable Securities directly from the
Company or (B) the voting and other significant matters of the Person to whom
such shares are being transferred are controlled by a Person that controls the
voting and other significant matters of New Preferred Shares or Registrable
Securities of another Investor that originally purchased the New Preferred
Shares or Registrable Securities directly from the Company, and (y) such Person
is neither (A) a Person that directly competes with the Company and derives a
substantial portion of its revenue directly (and not through the ownership of
any securities) from architecture, engineering, project/construction 

 26
 

                 

management, operating and maintenance and planning/consulting in the
transportation, facilities, environmental and/or government services markets (a
“Direct Competitor”), nor (B) was at any time a holder of the Class D
Preferred Stock, or (iii) to transferees mutually acceptable to such Investor
and the Company (it being understood that no Person described in clause (y)
above shall be acceptable to the Company). 
Any permitted transferee described in this Section 6.2(a) will be
referred to herein as a “Permitted Transferee.”

(b)           Subject
to compliance with the other provisions of this Section 6, a Holder of
New Preferred Shares or Registrable Securities can only Transfer any New
Preferred Shares or Registrable Securities held by such Holder if the
transferee consents in writing to be bound by the terms of this Agreement by
execution of a Joinder Agreement in substantially the form attached hereto as
Exhibit A.

6.3          Void Transfers

Any Transfer or attempted Transfer of any New
Preferred Shares or Registrable Securities in violation of any provision of
this Agreement shall be void, and the Company shall not record such Transfer on
its books nor treat any purported transferee of such New Preferred Shares or
Registrable Securities as the owner of such New Preferred Shares or Registrable
Securities for any purpose.

6.4          Company Right of First
Refusal

If a Holder desires to sell any New Preferred
Shares or Registrable Securities in compliance with this Section 6,
other than a sale to any of its Permitted Transferees, such Holder shall give
at least twenty (20) Business Days’ prior written notice to the Company (the “Transfer
Notice”) to such effect identifying the amount of New Preferred Shares to
be sold (the “Transferring Shares”), the price at which the Holder
proposes to sell the Transferring Shares (the “Transfer Price”), the
proposed closing date for such proposed sale, the identity of the transferee,
and a description of  any other material
terms and conditions of such proposed sale.

6.5          Company Right of First
Refusal Procedures

Upon receipt of the Transfer Notice, the
Company shall initially have the first right and option to purchase all and not
less than all of the Transferring Shares for the same consideration, at the
same purchase price and on the same terms as specified in the Transfer Notice,
exercisable for twenty-five (25) days after receipt of the Transfer
Notice.  Failure of the Company to
respond to the Transfer Notice within such twenty-five (25) day period
shall be deemed to constitute a notification to the Investor of such Company’s
decision not to exercise the first right and option to purchase the
Transferring Shares under this Section 6.  The Company may exercise its right and option
to purchase such Transferring Shares by giving written notice of exercise to
the Investor within such twenty-five (25) day period, specifying the date
(not later than three (3) Business Days from the date of expiration of all
applicable first rights and options to purchase shares under this Section 6)
upon which payment of the purchase price for the shares purchased pursuant to
this paragraph shall be made.

 27
 

                 

6.6          Non-Cash Consideration

If the Transfer Price, or a portion of the
Transfer Price, involves consideration other than cash, the Company shall have
the right to purchase all of the Transferring Shares for a cash amount equal to
the sum of the portion of such consideration which is cash plus the Cash Value
of the non-cash consideration.

6.7          Delivery of Shares

At the closing of the purchase by the Company
of all of the Transferring Shares, the Holder shall deliver to the Company
certificates evidencing the Transferring Shares, against payment of the
purchase price therefor in cash.

6.8          Subsequent Offers

The Holder may, during the 90-day period
following the closing of the purchase of a portion of the Transferring Shares,
offer the remaining unsubscribed portion of such Transferring Shares to any
person or persons identified in the Transfer Notice in compliance with Section
6.2 at a price not less than, and upon terms no more favorable to the
offeree than those specified in the Transfer Notice.  If the Holder does not enter into an
agreement for the sale of the remaining Transferring Shares within such period,
or if such agreement is not consummated within thirty (30) days of the execution
thereof, the right provided in this Section 6 shall be deemed to be
revived and such remaining Transferring Shares shall not be sold unless first
reoffered to the Company in accordance with this Section 6.

6.9          Termination

The
rights and obligations set forth in Sections 6.2 to 6.8 shall terminate
upon the completion of a Qualified Public Offering; provided that the Holders
of any New Preferred Shares or Registrable Securities that are Transferred
after the Qualified Public Offering shall no longer be entitled to the rights
granted to the initial Holders of such New Preferred Shares or Registrable
Securities pursuant to this Agreement, including the rights pursuant to Section
2 and 10 hereof; provided that the covenant in Section 8.2
shall remain in effect indefinitely on the Holders of such New Preferred Stock.

7.                                      Delivery
of Financial Statements

7.1          Annual Financial
Statements

Until the earlier of (i) the completion of an
Initial Public Offering and (ii) the date on which the Company becomes subject
to the reporting requirements under the Securities Exchange Act of 1934, as
amended, the Company shall deliver to each Investor Group Holder, an audited
consolidated balance sheet of the Company and its subsidiaries as at the end of
each fiscal year and audited consolidated statements of operations and of cash
flows of the Company and its subsidiaries for each fiscal year, including all
notes to such financial statements, at the same time the Company delivers such
financial statements to the borrowers under the Senior Credit Facility.  In the event that the Senior Credit Facility
is terminated, the Company shall deliver such financial statements pursuant to
the requirements of the Senior Credit Facility as of the date of termination.

 28
 

                 

7.2          Quarterly Financial
Statements and Annual Budget

Until the earlier of (i) the completion of an
Initial Public Offering and (ii) the date on which the Company becomes subject
to the reporting requirements under the Securities Exchange Act of 1934, as
amended, the Company shall deliver to each Investor Group Holder (so long as
such Holder’s Investor Group holds New Preferred Shares with a Liquidation
Preference of at least $10,000,000), a consolidated balance sheet of the
Company and its subsidiaries as at the end of each of the first three fiscal
quarters, consolidated statements of operations and of cash flows of the
Company and its subsidiaries for each of the first three fiscal quarters,
including all notes to such financial statements, and an annual operating
budget for the Company for the following fiscal year, at the same time the
Company delivers such financial statements and budget to the borrowers under
the Senior Credit Facility.   In the
event that the Senior Credit Facility is terminated, the Company shall deliver
such financial statements pursuant to the requirements of the Senior Credit
Facility as of the date of termination.

8.                                      Investigations
and Access

8.1          Access to Information

Until the earlier of (i) the completion of an
Initial Public Offering and (ii) the date on which the Company becomes subject
to the reporting requirements under the Exchange Act, the Company (A) agrees to
permit the Investor Group Holders and their agents and representatives, upon
reasonable advance notice to an officer of the Company, reasonable access
during normal business hours to (1) the premises of the Company and its
subsidiaries and (2) all the books, computer software application systems,
files and records of the Company and its subsidiaries, including, but not
limited to, lease, loan, real estate, financial, tax and personnel files and
records, and to furnish the Investor Group Holders such financial and operating
data, reports and other information with respect to the business, assets and
properties of the Company as the Investor Group Holders shall reasonably
request; and (B) will provide the Investor Group Holders and their
representatives and agents, reasonable access during normal business hours to
the Company’s executives, officers and other key employees for the discussion
of the materials described above in Sections 7 and 8 and other
matters relating to the Company’s business; provided that such
inspection and access shall not (1) extend to information that is the subject
of government “classified,” security or similar restrictions, (2) unreasonably
disrupt the day-to-day business operations of the Company and its Subsidiaries,
(3) violate a confidentiality agreement between the Company and a third party,
or (4) result in the waiver of any attorney-client, attorney work product or
other similar legal privilege asserted by the Company in good faith.

8.2          Confidentiality

(a)           Each
Investor agrees to keep confidential any records, documents or other
confidential information received on or after the date hereof by such Investor
(in its capacity as such) under Sections 7 and 8 herein or
otherwise, other than any such confidential information that becomes generally
available to the public other than as a result of a breach by the Investors of
their obligations hereunder or that is or becomes available to such Investor
from a source other than the Company or any of its Subsidiaries, or any of
their authorized representatives, and that is not, to the actual knowledge of
the recipient thereof, subject to obligations of confidentiality with 

 29
 

                 

respect thereto; provided that each such
Investor may disclose such confidential materials or information to:

(1)           its
directors, officers, trustees, partners, employees, rating agencies,
representatives, accountants, attorneys and other agents in their capacity as
such;

(2)           its
Affiliates, and the directors, officers, trustees, partners, employees,
accountants, attorneys and other agents of each of the foregoing; provided
that, in the case of Affiliates, such Person agrees to keep such information
confidential on terms similar to those set forth in this Section 8.2;
and provided further that the confidentiality provisions set forth in that
certain partnership agreement of J.H. Whitney VI, L.P. are deemed to be on
terms similar to those set forth in this Section 8.2 and Section 6.3 of
the Purchase Agreement, as such terms exist on the Initial Closing Date;

(3)           the
SEC and any other federal or state regulatory authority or examiner which
regulates or has jurisdiction over such Investor and any rating agency; and

(4)           any
other Person to which such delivery or disclosure may be necessary or
appropriate (A) in order to comply with any applicable law, rule, regulation or
order, (B) in response to any subpoena or other legal process, or (C) in
connection with the enforcement of the rights and remedies of such Investor
Group Holder under this Agreement and the other Transaction Documents (with
respect to clauses (A) and (B) of this subparagraph (5), in each case upon
prior written notice to the Company to the extent reasonably practicable and
not prohibited by law or court order, so that the Company may, at its sole cost
and expense, contest such disclosure or seek confidential treatment thereof).

Notwithstanding
anything contained in this Section 8.2(a) to the contrary, this
provision shall not limit the rights or obligations of any Affiliate of an
Investor in his or her capacity as a member of the Board of Directors of the
Company.

(b)           Notwithstanding any other provision contained
herein, each Investor Group Holder, with the prior review and written consent of
the Company, which consent shall not be unreasonably withheld or delayed, shall
have the right to issue a press release or other public statement, with respect
to the transactions contemplated by this Agreement and the Transaction
Documents.  Each Investor Group or
Investor Group Holder shall also have the right to list the Company as a
portfolio company of such Investor Group or Investor Group Holder on the web
site or sites owned and maintained by such Person and, with the written consent
of the Company, which consent shall not be unreasonably withheld or delayed, in
any other marketing materials as such Investor Group or Investor Group Holder
shall determine.

9.                                      Investor
Matters

9.1          Investor Representation

As
of the date of this Agreement, each Investor represents severally as to itself
(and not jointly) as of the date hereof as follows:

 30
 

                 

(i)            GSO Special Situations
Fund LP is a Delaware limited partnership, the general partner of which is GSO
Associates LLC, which is a Delaware limited liability company;

(ii)           GSO Special Situations
Overseas Fund Ltd. is a Cayman Islands exempted company, of which no single
entity holds 50% or more of the voting securities;

(iii)          GSO Special Situations
Overseas Benefit Plan Fund Ltd. is a Cayman Islands exempted company, of which
no single entity holds 50% or more of the voting securities; and

(iv)          GSO Credit Opportunities
Fund (Helios), L.P., is a Cayman Islands exempted limited partnership, the
general partner of which is GSO Assocaties LLC, which is a Delaware limited liability
company, and the sole limited partner of which is Custom Investment PCC
Limited, Acting for and on behalf of its Cell CI-2, the sole investor of which
is Pluris Alternative Investment Strategies Limited, an open-ended investment
company which is registered with limited liability in Guernsey.

9.2          Investor Covenant

Upon
written request by the Company annually, or more frequently if reasonably
required to assist the Company in its compliance with applicable laws, each
Investor will update the information about it provided in Section 9.1
herein and promptly respond to informational requests for similar information
(such as information relating to the Investor’s limited partners, shareholders,
management and other related information) in each case to the best of its
information and belief;  provided,
however, that nothing herein shall be construed as a restriction or
limitation of any sort on the ability of any Investor to change its
organizational structure or ownership, which an Investor may do in its sole
discretion.

9.3          Company Covenant

Subject
to compliance with the other provisions of this Agreement, the Company may not
issue any New Preferred Shares without requiring that all Holders of New
Preferred Shares be bound by the terms of this Agreement by execution of a
Joinder Agreement.

9.4          Survival

This
Section 9 shall apply so long as any New Preferred Shares remain
outstanding.

10.                               Investor
Group Directors

10.1        Right to Elect Investor
Group Directors

(a)           Notwithstanding the Class F Certificate of
Designations (or any New Parity Stock Certificate of Designations), the right
to elect an Investor Group Director by an Investor Group shall be effective (i)
for so long as permitted under the applicable New Parity Stock Certificate of
Designations and (ii) in the event there is no right to elect directors for
such Investor Group pursuant to the applicable New Parity Stock Certificate of
Designations, for so long as such Investor Group holds Common Stock
representing more than fifty-percent (50%) of the Registrable 

 31
 

                 

Securities initially issued to such Investor
Group.  Notwithstanding the foregoing,
any Investor Group Director or nominee must be a U.S. citizen.

(b)           Notwithstanding the foregoing, any Investor
Group, in its sole discretion, may determine at any time (A) not to designate
any person to serve on the Board of Directors of the Company or (B) to forfeit
temporarily or permanently all of its rights with respect to the nomination and
election of directors of the Company pursuant to this Agreement, the Class F
Certificate of Designations, any New Parity Stock Certificate of Designations
or any other agreement.

10.2        Nomination Procedures

(a)           Should an Investor Group Director cease to
serve as a director of the Company for any reason, the proposed successor nominated
by the respective Investor Group shall be a U.S. citizen and shall be subject
to the prior consultation with the Company’s Nominating and Governance
Committee (such committee, or a replacement committee performing the same
function, being the “Nominating Committee”) and the results of such
consultation must be taken into consideration in good faith by the respective
Investor Group, which approval shall not be unreasonably withheld or delayed.

(b)           The Company shall nominate as an element of
management’s slate of directors at each annual or special meeting at which
directors are elected, the persons identified in accordance with the procedures
specified in this Article IX to be directors of the Company.

10.3        Director Indemnification

The
Company shall within
ten (10) Business Days following the appointment of each Investor Group
Director provide for and maintain indemnification of each Investor Group
Director on terms no less favorable than the indemnification, including,
without limitation, directors’ and officers’ liability insurance, in
effect as of such date in respect of the then sitting members of the Company’s
Board of Directors.  The obligation of the Company pursuant to this Section
10.3 shall continue so long as an Investor Group Director serves on the
Board of Directors of the Company;
provided however, only as it solely relates to indemnification by the Company
and not to maintenance of directors’ and officers’ liability insurance,
coverage for matters based on, or arising out of, any matter existing or
occurring while such Investor Group Director was a director, even though such
Investor Group Director may no longer be a director at the time any claim for
indemnification is made, shall continue following such director’s service on
the Board of Directors.

11.                               Miscellaneous

11.1        Mandatory Redemption
True-Up

The
Company agrees to pay any Contingent Mandatory Redemption Price, as such term
is defined in the Class F Certificate of Designations (or any similar provision
in any New Parity Stock Certificate of Designations), notwithstanding the fact
that the New Preferred Shares may have been redeemed and such Class F
Certificate of Designations or New Parity Stock Certificate of Designations is
no longer in effect.

 32

  11.2        Future Registration Rights
Agreement
  Except
for (a) the rights granted in the Class D Investor Rights Agreement,
(b) the rights granted to the Holders of Registrable Securities in this
Agreement and (c) the limited rights granted to the Holders of Acquisition
Securities pursuant to Section 2.10, the Company shall not agree to
register any Equity Securities under the Securities Act unless such agreement
specifically provides that the Holders of Registrable Securities have absolute
priority over them to be included in an offering if the offering is subject to
an underwriter’s cut-back.
  11.3        Remedies
  Each
Holder of Registrable Securities, in addition to being entitled to exercise all
rights provided herein, in the Purchase Agreement and granted by law, including
recovery of damages, shall be entitled to specific performance of its rights
under this Agreement.  The Company agrees that monetary damages would not
be adequate compensation for any loss incurred by reason of a breach by it of
the provisions of this Agreement and hereby agrees to waive the defense in any
action for specific performance that a remedy at law would be adequate.  It is accordingly agreed that the parties shall be entitled to an
injunction or injunctions to prevent breaches of the provisions of this
Agreement, and shall be entitled to enforce specifically the provisions of this
Agreement, in any court of the United States or any state thereof having
jurisdiction, in addition to any other remedy to which the parties may be
entitled under this Agreement or at law or in equity, without posting bond or
other security, and without the necessity of proving actual damages.
  11.4        Amendments and Waivers
  The
provisions of this Agreement, including the provisions of this sentence, may
not be amended, modified or sup­plemented, and waivers or consents to
departures from the provisions hereof may not be given unless the Company
consents in writing and obtains the written consent of  (a) a majority of the holders of New
Preferred Shares and Registrable Securities then outstanding and (b) any
Investor Group, so long as such Investor Group holds New Preferred Shares with
a Liquidation Preference of at least $50,000,000 (or shares of Common Stock
into which such New Preferred Shares have been converted).  The foregoing notwithstanding, a waiver or
consent to departure from the provisions hereof that relates exclusively to the
rights of Holders of shares of Registrable Securities whose shares are being
sold pursuant to a Registration Statement and that does not directly or
indirectly affect the rights of other Holders of shares of Registrable
Securities may be given by the Holders of a majority of the shares of
Registrable Securities being sold.
  11.5        Notices
  All
notices and other communications provided for or permitted hereunder shall be
made in writing by hand-delivery, registered first-class mail,
telecopier, or air courier guaranteeing overnight delivery:
  (a)           if to a Holder of Registrable Securities, at
the most current address given by such Holder to the Company in accordance with
the provisions hereof, which address initially is, with respect to each
Investor, the address set forth in the Purchase Agreement, with a copy to
counsel of such Investor as provided by the Investor to the Company; and

 33
 

    (b)           if to the Company, initially at its address
set forth in the Purchase Agreement and thereafter at such other address,
notice of which is given in accordance with the provisions hereof, with a copy
to O’Melveny & Myers LLP, 400 South Hope Street, Los Angeles, California
90071, Attention: Richard A. Boehmer, Esq.
  All
such notices and communications shall be deemed to have been duly given: 
at the time delivered by hand, if personally delivered; five (5) Business Days
after being deposited in the mail, postage prepaid, if mailed; when receipt
acknowledged, if telecopied; and on the next Business Day, if timely delivered
to an air courier guaranteeing overnight delivery. The Company shall promptly
provide a list of the most current addresses of the Holders of Registrable
Securities given to it in accordance with the provisions hereof to any such
Holder for the purpose of enabling such Holder to communicate with other
Holders in connection with this Agreement.
  11.6        Counterparts
  This
Agreement may be executed in any number of counterparts and by the parties
hereto in separate counterparts, each of which when so executed shall be deemed
to be an original and all of which taken together shall constitute one and the
same agreement.  Delivery of an executed
counterpart of a signature page of this Agreement by telecopy or other
electronic means shall be effective as delivery of a manually executed
counterpart of this Agreement Delivery of manually executed counterparts of
this Agreement shall immediately follow delivery by telecopy or other
electronic means, but the failure to so deliver a manually executed counterpart
shall not affect the validity, enforceability, or binding effect hereof.
  11.7        Table of Contents and
Headings
  The
table of contents and headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.
  11.8        Governing Law
  This
Agreement shall be governed by and construed in accordance with the internal
laws of the State New York (without regard to
its principles of conflicts of laws, except for New York General Obligations
Law Section 5-1401).
  11.9        Severability
  In
the event that any one or more of the provisions contained herein, or the
application thereof in any circumstance, is held invalid, illegal or unenforceable,
the validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions contained herein shall not be affected
or impaired thereby.
  11.10      Forms
  All
references in this Agreement to particular forms of registration statements are
intended to include all successor forms which are intended to replace, or to
apply to similar transactions as, the forms herein referenced.

 34
 

    11.11      Entire Agreement
  This
Agreement, the Purchase Agreement (including the exhibits thereto), the Class F
Certificate of Designations, and, with respect to any other holders of New
Preferred Shares other than the Class F Preferred Shares who from time to time
become party to this Agreement by execution of a Joinder Agreement, the related
Certificate of Designations establishing such class or series of New Preferred
Shares (each such Certificate, a “New Parity Stock Certificate of
Designations”), are intended by the parties as the final expression of
their agreement and intended to be a complete and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject
matter contained herein.  This Agreement, the Purchase Agreement, the
Class F Certificate of Designations and any New Parity Stock Certificate of
Designations, supersede all prior agreements and understandings between the
parties with respect to such subject matter.
  11.12      Recapitalizations, etc.
  The
provisions of this Agreement (including any calculation of share ownership)
shall apply, to the full extent set forth herein with respect to the
Registrable Securities, to any and all shares of capital stock of the Company
that may be issued in respect of, in exchange for, or in substitution of the
Common Stock by reason of any stock dividend, split, reverse split,
recapitalization or liquidation.
  11.13      Inspection
  Copies
of this Agreement will be available for inspection or copying by any
stockholder at the offices of the Company through the Secretary of the Company.
  11.14      Legend
  (a)           In
addition to any other legend required by the Purchase Agreement, the
certificates representing the Registrable Securities shall contain a legend
(the “Legend”) substantially as set forth below:
  CERTAIN RIGHTS AND
OBLIGATIONS ATTACHING TO THIS CERTIFICATE ARE AS SPECIFIED IN AN INVESTOR
RIGHTS AGREEMENT WITH RESPECT TO THE SECURITIES REPRESENTED HEREBY.
  (b)           The
Legend shall be removed from any such certificate if (i) the securities
represented thereby are sold pursuant to an effective Registration Statement
under the Securities Act or in accordance with Rule 144, or (ii) there is
delivered to the Company such satisfactory evidence, which may include an
opinion of counsel, as reasonably may be requested by the Company, to confirm
that neither such legend nor the restrictions on transfer set forth therein are
required to ensure that transfers of such securities will not violate the
registration and prospectus delivery requirements of the Securities Act.

 35
 

    11.15      Further Assurances
  Each
party to this Agreement hereby covenants and agrees without the necessity of
any further consideration, to execute and deliver any and all such further
documents and take any and all such other actions as may be reasonably
necessary or appropriate to carry out the intent and purposes of this Agreement
and to consummate the transactions contemplated hereby.
  11.16      No Inconsistent Agreements
  (a)           The Company shall not
on or after the date of this Agreement enter into any agreement with respect to
its securities that is inconsistent with the rights granted to the Holders of
Registrable Securities in this Agreement or otherwise conflicts with the
provisions hereof.
  (b)           Other than the Class D
Investor Rights Agreement, the Company has not previously entered into any
agreement with respect to its Common Stock granting any registration rights for
Common Stock to any Person.
  11.17      Successors and Assigns
  This
Agreement will be binding upon and inure to the benefit of the respective
successors and permitted assigns of the parties hereto as contemplated
herein.  The rights of the Holders of
Registrable Securities hereunder will be assignable to Permitted
Transferees.  This Agreement may not be
assigned by the Company without the prior written consent of the Holders of a
majority of the New Preferred Shares and Registrable Securities and the holders
of a majority of the number of shares of Common Stock then held by Investors at
the relevant time (assuming the conversion of the then outstanding New
Preferred Shares in accordance with the Class F Certificate of Designations or
any New Preferred Shares Certificate of Designations), voting together as a
single class.
  11.18      Delays or Omissions
  No
delay or omission to exercise any right, power or remedy accruing to any party
under this Agreement, upon any breach or default of any other party under this
Agreement, shall impair any such right, power or remedy of such non-breaching
or non-defaulting party nor shall it be construed to be a waiver of any such
breach or default, or an acquiescence therein, or of or in any similar breach
or default thereafter occurring; nor shall any waiver of any single breach or
default be deemed a waiver of any other breach or default theretofore or
thereafter occurring.  Any waiver,
permit, consent or approval of any kind or character on the part of any party
of any breach or default under this Agreement, or any waiver on the part of any
party of any provisions or conditions of this Agreement, must be in writing and
shall be effective only to the extent specifically set forth in such writing.  All remedies, either under this Agreement or
by law or otherwise afforded to any party, shall be cumulative and not
alternative.

 36
 

    11.19      Submission to Jurisdiction;
Waiver of Service and Venue
  (a)           THE COMPANY CONSENTS
AND AGREES TO THE NON-EXCLUSIVE JURISDICTION OF ANY STATE OR FEDERAL COURT
SITTING IN THE COUNTY OF NEW YORK, STATE OF NEW YORK, AND WAIVES ANY OBJECTION
BASED ON VENUE OR FORUM NON CONVENIENS WITH RESPECT TO ANY ACTION INSTITUTED
THEREIN.
  (b)           THE COMPANY HEREBY
WAIVES PERSONAL SERVICE OF ANY AND ALL PROCESS UPON IT AND CONSENTS THAT ALL
SUCH SERVICE OF PROCESS MAY BE MADE BY HAND DELIVERY OR BY REGISTERED OR
CERTIFIED UNITED STATES MAIL TO THE COMPANY AT ITS ADDRESS SET FORTH IN SECTION
11.5.  A COPY OF ANY SUCH PROCESS SO
SERVED SHALL BE MAILED BY REGISTERED OR CERTIFIED UNITED STATES MAIL TO THE
COMPANY AT ITS ADDRESS PROVIDED IN SECTION 11.5 EXCEPT THAT UNLESS OTHERWISE
PROVIDED BY APPLICABLE LAW, ANY FAILURE TO MAIL SUCH COPY SHALL NOT AFFECT THE
VALIDITY OF SERVICE OF PROCESS.
  (c)           NOTHING IN THIS SECTION
11.19 SHALL AFFECT THE RIGHT OF THE INVESTORS TO SERVE LEGAL PROCESS IN ANY
OTHER MANNER PERMITTED BY LAW OR AFFECT THE RIGHT OF THE INVESTORS TO BRING ANY
ACTION OR PROCEEDING AGAINST THE COMPANY OR ITS PROPERTY IN THE COURTS OF ANY
OTHER JURISDICTION.
  11.20      Submission to Jurisdiction;
Waiver of Service and Venue
  EACH OF THE COMPANY AND INVESTORS HEREBY WAIVES
ANY RIGHT TO TRIAL BY JURY OF ANY CLAIM, DEMAND, ACTION OR CAUSE OF ACTION (i)
ARISING UNDER THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT
EXECUTED OR DELIVERED IN CONNECTION HEREWITH OR (ii) IN ANY WAY CONNECTED WITH
OR RELATED OR INCIDENTAL TO THE DEALINGS OF THE PARTIES HERETO OR ANY OF THEM
IN RESPECT TO THIS AGREEMENT OR ANY OTHER INSTRUMENT, DOCUMENT OR AGREEMENT EXECUTED
OR DELIVERED IN CONNECTION HEREWITH OR THE TRANSACTIONS RELATED HERETO, IN EACH
CASE WHETHER NOW EXISTING OR HEREAFTER ARISING, AND WHETHER SOUNDING IN
CONTRACT OR TORT OR OTHERWISE.  THE
COMPANY AND EACH INVESTOR HEREBY AGREE AND CONSENT THAT ANY SUCH CLAIM, DEMAND,
ACTION OR CAUSE OF ACTION SHALL BE DECIDED BY COURT TRIAL WITHOUT A JURY AND
THAT ANY PARTY MAY FILE AN ORIGINAL COUNTERPART OR A COPY OF THIS AGREEMENT
WITH ANY COURT AS WRITTEN EVIDENCE OF THE CONSENT OF THE PARTIES HERETO TO THE
WAIVER OF THEIR RIGHT TO TRIAL BY JURY.
  (Signature Pages Follow)

 37

IN WITNESS WHEREOF, the parties hereto have caused
this Agreement to be duly executed as of the day and year first above written.

	
  

  	
   

  	
  AECOM
  TECHNOLOGY CORPORATION

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
  By:

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	
  Name:

  	
   

  	
  Eric Chen

  
	
   

  	
   

  	
   

  	
   

  	
  Title:

  	
   

  	
  Senior Vice President,
  Corporate

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
  Finance, and
  General Counsel

  
									

 

 

Signature Page to
Investor Rights Agreement

 S-1
 

 

	
  

  	
  GSO SPECIAL SITUATIONS FUND LP

  
	
   

  	
   

  
	
   

  	
  By: GSO Capital Partners LP

  
	
   

  	
  Its: Investment Advisor

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  	 

	
   

  	
  Name: George Fan

  
	
   

  	
  Title: Authorized Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GSO SPECIAL SITUATIONS

  OVERSEAS FUND LTD.

  
	
   

  	
   

  
	
   

  	
  By: GSO Capital Partners LP

  
	
   

  	
  Its: Investment Advisor

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name: George Fan

  
	
   

  	
  Title: Authorized Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GSO
  SPECIAL SITUATIONS

  OVERSEAS BENEFIT PLAN FUND

  LTD.

  
	
   

  	
   

  
	
   

  	
  By: GSO Capital Partners LP

  
	
   

  	
  Its: Investment Advisor

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name: George Fan

  
	
   

  	
  Title: Authorized Signatory

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GSO
  CREDIT OPPORTUNITIES FUND

  (HELIOS), L.P.

  
	
   

  	
   

  
	
   

  	
  By: GSO Capital Partners LP

  
	
   

  	
  Its: Investment Advisor

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name: George Fan

  
	
   

  	
  Title: Authorized Signatory

  

 

 S-2

EXHIBIT A

Form of
Joinder Agreement

The undersigned
hereby agrees, effective as of the date hereof, to become a party to that
certain Investor Rights Agreement (the “Agreement”) dated as of [                     ],
2006 by and among AECOM Technology Corporation (the “Company”) and the parties
named therein and for all purposes of the Agreement, the undersigned shall be
included within the term “Investor” (as defined in the Agreement).  As of the date hereof the undersigned
represents and warrants that [          
Fund] is a [Delaware limited partnership], the sole [general partner] of which
is [               ],
a [Delaware limited liability company], the sole [managing members] of which
are each a natural person who is a citizen of the United States.  The address and facsimile number to which
notices may be sent to the undersigned is as follows:

	
   

  	
   

  	
   

  	
   

  	 

	
  

  	
  Address:

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  Facsimile No.:

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  with a copy to:

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  [                                                        ]

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By: [                 ]

  	 

	
   

  	
   

  	
  Its:  [                 ]

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
   

  	
   

  	
  By:

  	 

	
   

  	
   

  	
   

  	
  Name:

  	 

	
   

  	
   

  	
   

  	
  Title:

  	 

	
   

  	
   

  	
   

  	
   

  	 

	
  Acknowledged by:

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
  AECOM Technology
  Corporation

  	
   

  	
   

  	 

	
   

  	
   

  	
   

  	 

	
  By:

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  Name: 

  	
   

  	
   

  	
   

  	
   

  	 

	
   

  	
  Title:

  	
   

  	
   

  	
   

  	
   

  
												

 

 A-1Exhibit
4.3

JOINDER
AGREEMENT

The undersigned hereby agrees, effective as of the
date hereof, to become a party to that certain Investor Rights Agreement, dated
as of February 9, 2006, by and among AECOM Technology Corporation (the “Company”)
and the parties named therein, as amended by that certain Amendment No. 1 to
the Investor Rights Agreement, dated as of February 14, 2006, by and among the
Company and the parties named therein (collectively, the “Agreement”),
and for all purposes of the Agreement, the undersigned shall be included within
the term “Investor” (as defined in the Agreement).  As of the date hereof the undersigned
represents and warrants that J.H. Whitney VI, L.P. is a Delaware limited
partnership, the sole general partner of which is J.H. Whitney Equity Partners
VI, LLC, a Delaware limited liability company, the managing members of which
are each a natural person who is a citizen of the United States.  For purposes of clarification, J.H. Whitney VI,
L.P. constitutes an “Investor” for purposes of, and as defined in, the
Agreement.  The address and facsimile
number to which notices may be sent to the undersigned is as follows:

	
   

  	
  Address:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  J.H. Whitney VI, L.P.

  	
   

  
	
   

  	
  177 Broad Street

  	
   

  
	
   

  	
  Stamford, CT 06901

  	
   

  
	
   

  	
  Attention: Kevin J. Curley

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Facsimile No.:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  (203) 873-1442

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  with a copy to:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Gibson, Dunn & Crutcher LLP

  	
   

  
	
   

  	
  2029 Century Park East, Suite 4000

  	
   

  
	
   

  	
  Los Angeles, CA 90067

  	
   

  
	
   

  	
  Attention: Jonathan Layne

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  J.H. Whitney VI, L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  J.H. Whitney Equity Partners VI, LLC

  
	
   

  	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
   

  	
  By: 

  	
   

  	
   

  
	
   

  	
   

  	
  Name: Michael C. Salvator

  
	
   

  	
   

  	
  Title: Managing Member

  
						

 

Whitney Joinder
Agreement to Investor Rights Agreement

 

	
  Acknowledged and agreed to by:

  
	
   

  
	
  AECOM Technology Corporation

  
	
   

  
	
  By:

  	
   

  	
   

  	
   

  	 

	
   

  	
  Name:

  	
   

  	
   

  	
   

  	 

	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00116-of-00352.parquet"}]]