Document:

exv10w2

 

EXHIBIT 10.2

EXHIBIT A

          THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF HAVE NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE PLEDGED,
SOLD, OFFERED FOR SALE, TRANSFERRED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF REGISTRATION UNDER
OR EXEMPTION FROM SUCH ACT AND ALL APPLICABLE STATE SECURITIES LAWS.

          THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREOF ARE SUBJECT TO THE TERMS AND
PROVISIONS OF THE FIRST AMENDED AND RESTATED AGREEMENT AND PLAN OF MERGER, DATED AS OF FEBRUARY 14,
2007, AMONG JK ACQUISITION CORP. (THE “COMPANY”), MULTI-SHOT, INC., MULTI-SHOT, LLC,
CATALYST HALL GROWTH CAPITAL MANAGEMENT CO., LLC, AS MEMBERS’ RESPRESENTATIVE, AND THE MEMBERS OF
MULTI-SHOT, LLC (AS SUCH AGREEMENT MAY BE SUPPLEMENTED, MODIFIED, AMENDED, OR RESTATED FROM TIME TO
TIME, THE “MERGER AGREEMENT”). A COPY OF THE AGREEMENT IS AVAILABLE AT THE EXECUTIVE
OFFICES OF THE COMPANY.

			
	[___] Shares
	 	Warrant No. [___]

WARRANT TO ACQUIRE SHARES OF COMMON STOCK OF

JK ACQUISITION CORP.

          This is to certify that, in consideration of valuable consideration, which is hereby
acknowledged as received, [                                        ], its successors and registered assigns, is entitled
at any time after the Closing Date (as defined in the Merger Agreement) to exercise this Warrant to
acquire as an Earnout Award pursuant to Section 2.06 of the Merger Agreement, [                    ]
(___) shares of common stock, par value $0.0001 per share of JK ACQUISITION CORP., a Delaware
corporation (which shall be renamed MS Energy Services, Inc. at the Effective Time)(the
“Company”), and to exercise the other rights, powers, and privileges hereinafter provided,
all on the terms and subject to the conditions specified in this Warrant and in the Merger
Agreement. All capitalized terms used herein but not otherwise defined shall have the meaning set
forth in the Merger Agreement.

	 	1.	 	Duration of Warrants. A Warrant may be exercised only during the period
(“Exercise Period”) commencing on the Effective Time and terminating at 5:00 p.m.,
New York City local time on [___] [___], 2010 (“Expiration Date”). Each Warrant
not exercised on or before the Expiration Date shall become void, and all rights thereunder
and all rights in respect thereof under this Warrant shall cease at the close of business
on the Expiration Date. The Company in its sole discretion may extend the duration of the
Warrants by delaying the Expiration Date; provided, however, that any extension of the
duration of the Warrants must apply equally to all of the Warrants.
	 
	 	2.	 	Exercise of Warrants.

     (a) Payment. A Warrant may be exercised by the registered holder thereof by
surrendering it, at the office of the Company, for the number of shares of Common Stock
which the registered holder is entitled to receive as an Earnout Award pursuant to Section
2.06 of the Merger Agreement, as well as any and all applicable taxes due in connection with
the exercise of the Warrant, the exchange of the Warrant for shares of Common Stock, and the
issuance of the
Common Stock. The registered holder shall not be required to provide any additional

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consideration upon the exercise of the Warrant or the issuance of Common Stock upon exercise
of a Warrant.

     (b) As soon as practicable after the exercise of any Warrant, the Company shall issue
to the registered holder of such Warrant a certificate or certificates for the number of
full shares of Common Stock to which he is entitled pursuant to the exercise of the Warrant,
registered in such name or names as may be directed by him, her or it, and additionally if
such Warrant shall not have been exercised in full, a new countersigned Warrant for the
number of shares as to which such Warrant shall not have been exercised. Notwithstanding
the foregoing, the Company shall not be obligated to deliver any securities pursuant to the
exercise of a Warrant unless a registration statement under the Act and all applicable state
securities laws with respect to the Common Stock is effective or an exemption under the Act
and all applicable state securities laws is available for the issuance.

     (c) All shares of Common Stock issued upon the proper exercise of a Warrant in
conformity with this Warrant shall be validly issued, fully paid and nonassessable.

     (d) Each person in whose name any such certificate for shares of Common Stock is issued
shall for all purposes be deemed to have become the holder of record of such shares on the
date on which the Warrant was surrendered, irrespective of the date of delivery of such
certificate, except that, if the date of such surrender and payment is a date when the stock
transfer books of the Company are closed, such person shall be deemed to have become the
holder of such shares at the close of business on the next succeeding date on which the
stock transfer books are re-opened, which shall be the earliest practical date available to
the Company.

	 	3.	 	No Fractional Shares. Notwithstanding any other provision of this Warrant or
the Merger Agreement, no fractional shares of Common Stock shall be issued pursuant to the
terms of this Warrant, and no Member shall be entitled to receive a fractional share of
Common Stock pursuant to the terms of this Warrant.
	 
	 	4.	 	Transfer and Exchange of Warrants.

     (a) Registration of Transfer. The Company shall register the transfer, from
time to time, of any outstanding Warrant in the Warrant register, upon the surrender of such
Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied
by appropriate instructions for transfer. Upon any such transfer, a new Warrant
representing an equal aggregate number of Warrants shall be issued and the old Warrant shall
be cancelled by the Company.

     (b) Procedure for Surrender of Warrants. Warrants may be surrendered to the
Company, together with a written request for exchange or transfer, and thereupon the Company
shall issue in exchange therefor one or more new Warrants as requested by the registered
holder of the Warrants so surrendered, representing an equal aggregate number of Warrants.

     (c) Partial Exercise. If the Warrant shall have been exercised in part, the
Company shall, at the time of delivery of the certificate or certificates representing
shares of Parent Common Stock, deliver to holder a new Warrant evidencing the unexercised
rights of holder to acquire shares of Parent Common Stock called for by the Warrant, which
new Warrant shall in all other respects be identical with the original Warrant.

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     (d) Service Charges. No service charge shall be made for any exchange of
Warrants.

	 	5.	 	Other Provisions Relating to Rights of Holders of Warrants.

     (a) No Rights as Stockholder. A Warrant does not entitle the registered holder
thereof to any of the rights of a stockholder of the Company, including, without limitation,
the right to receive dividends, or other distributions, exercise any preemptive rights to
vote or to consent or to receive notice as stockholders in respect of the meetings of
stockholders or the election of directors of the Company or any other matter. The holder
shall be entitled to all rights of a stockholder of the Company with respect to shares of
Common Stock issuable upon exercise of this Warrant immediately upon such exercise
notwithstanding that a certificate representing such shares Common Stock has not been
issued.

     (b) Lost, Stolen, Mutilated, or Destroyed Warrants. If any Warrant is lost,
stolen, mutilated, or destroyed, the Company may on such terms as to indemnity or otherwise
as they may in their discretion impose (which shall, in the case of a mutilated Warrant,
include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as
the Warrant so lost, stolen, mutilated, or destroyed. Any such new Warrant shall constitute
a substitute contractual obligation of the Company, whether or not the allegedly lost,
stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

     (c) Reservation of Common Stock. The Company shall at all times that any
Warrant is outstanding reserve and keep available a number of its authorized but unissued
            shares of Common Stock that will be sufficient to permit the exercise in full of all
outstanding Warrants.

     (d) Registration of Common Stock. The registration of the Common Stock
issuable pursuant to the terms of this Warrant shall be subject to that certain Registration
Rights Agreement, dated [                     ___], 2007 by and between the Company, the Members’
Representative and the members of Multi-Shot, LLC.

	 	6.	 	Miscellaneous Provisions.

     (a) Successors. All the covenants and provisions of this Warrant by or for the
benefit of the Company shall bind and inure to the benefit of their respective successors
and assigns.

     (b) Notices. All notices, requests, claims, demands and other communications
hereunder shall be in writing and shall be given (and shall be deemed to have been duly
given upon receipt) by delivery in person, by cable, telecopy, facsimile, telegram or telex
or by registered or certified mail (postage prepaid, return receipt requested) to the
respective parties at the following addresses (or at such other address for a party as shall
be specified in a notice given in accordance with this Section 6(b)):

if to the Company:

JK Acquisition Corp.

4400 Post Oak Parkway, Suite 2530

Houston, Texas 77027

Facsimile No.: (713) 552-9226

Attention: James P. Wilson

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with a copy to:

Patton Boggs LLP

2001 Ross Avenue, Suite 3000

Dallas, Texas 75201

Facsimile No.: (214) 758-1550

Attention: Fred S. Stovall, Esq.

if to Holder, to the address reflected on the register of Warrants kept by the
Company, with a copy to the Members’ Representative at:

Catalyst Hall Growth Capital Management Co., LLC

2 Riverway, Suite 1710

Houston, Texas 77056

Facsimile No.: (713) 623-0473

Attention: Ron Nixon and Rick Herrman

[Investor’s designee]

[address]

[address]

with a copy to:

Franklin, Cardwell & Jones, P.C.

1001 McKinney, Suite 1800

Houston, Texas 77002

Facsimile No.: (713) 227-5657

Attention: Randolph Ewing, Esq.

     (c) Applicable law. The validity, interpretation, and performance of the
Warrants shall be governed in all respects by the laws of the State of Delaware, applicable
to contracts executed in and to be performed in that state and without regard to any
applicable conflicts of law. In any action between the parties hereto arising out of or
relating to the Warrants: (i) each of the parties irrevocably and unconditionally consents
and submits to the exclusive jurisdiction and venue of either the state courts located in
Harris County, Texas or the United States District Court for the Southern District of Texas
and (ii) each of the parties irrevocably consents to service of process by first class
certified mail, return receipt requested, postage prepaid.

     (d) Persons Having Rights under this Warrant. Nothing in this Warrant expressed
and nothing that may be implied from any of the provisions hereof is intended, or shall
be construed, to confer upon, or give to, any person or corporation other than the
parties hereto and the registered holders of the Warrants. All covenants, conditions,
stipulations, promises, and agreements contained herein shall be for the sole and exclusive
benefit of the parties hereto and their successors and assigns and of the registered holders
of the Warrants.

     (e) Counterparts. This Agreement may be executed in any number of counterparts
and each of such counterparts shall for all purposes be deemed to be an original, and all
such counterparts shall together constitute but one and the same instrument.

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     (f) Effect of Headings. The Section headings herein are for convenience only
and are not part of this Warrant Agreement and shall not affect the interpretation thereof.

     (g) Other. This Warrant is issued under, and the rights represented hereby are
subject to the terms and provisions contained in the Merger Agreement, to all terms and
provisions of which the registered holder of this Warrant, by acceptance of this Warrant,
assents. Reference is hereby made to the Merger Agreement for a more complete statement of
the rights and limitations of rights of the registered holder of this Warrant and the rights
and duties of the Company under this Warrant. A copy of the Merger Agreement is on file at
the office of the Company.

[Remainder of this page intentionally left blank; signature page follows.]

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     IN WITNESS WHEREOF, the Company has caused this Warrant to be duly executed on this [___] day
of [                    ], 2007.

	 	 	 	 	 	 	 
	 	 	JK ACQUISITION CORP.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:exv10w3

 

EXHIBIT 10.3

EXHIBIT C

REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the [___] day of
[                    ] 2007, by and among JK Acquisition Corp., a Delaware corporation (the
“Company”), Catalyst/Hall Growth Capital Management Co., LLC, as members’ representative a
Texas limited liability company (“Catalyst”), and [Investor’s designee], a [                    ]
(“Designee” and together with Catalyst, each or either or both, the “Members’
Representative”), and the undersigned parties listed on the signature page hereto (each a
“Stockholder” and collectively, the “Stockholders”), each of whom was a member of
Multi-Shot, LLC prior to the Effective Time of the Merger. Unless otherwise indicated, capitalized
terms not defined herein have the meanings set forth in the Merger Agreement.

     WHEREAS, the Company and the Stockholders are parties to that certain First Amended and
Restated Agreement and Plan of Merger, dated February 14, 2007, among the Company, Multi-Shot,
Inc., Multi-Shot, LLC, Catalyst Hall Growth Capital Management Co., LLC and the members of
Multi-Shot, LLC (the “Merger Agreement”);

     WHEREAS, the Stockholders own [                    ] shares of Common Stock of the Company and
[                    ] Warrants;

     WHEREAS, as a material inducement to enter into the Merger Agreement, the Stockholders and the
Company desire to enter into this Agreement to provide the Stockholders with certain rights
relating to the registration of such shares of Common Stock and such shares of Common Stock
issuable upon the exercise of such Warrants held by them;

     NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

1. DEFINITIONS. The following capitalized terms used herein have the following meanings:

     “Agreement” means this Agreement, as amended, restated, supplemented, or otherwise
modified from time to time.

     “Commission” means the Securities and Exchange Commission, or any other federal agency
then administering the Securities Act or the Exchange Act.

     “Common Stock” means the common stock, par value $0.0001 per share, of the Company.

     “Company” is defined in the preamble to this Agreement.

     “Demand Registration” means a written demand for registration under the Securities Act
of all or part of their Registrable Securities.

     “Demanding Holder” means each holder of Registrable Securities who wishes to include
all or a portion of such holder’s Registrable Securities in a Demand Registration.

     “Disclosure Package” means the preliminary prospectus included in the Registration
Statement immediately prior to the Time of Sale and any additional materials distributed in
connection with the offering and sale of Registrable Securities.

 

 

     “Escrow Agreement” means the Escrow Agreement dated as of [___], 2007
executed and delivered by the Company, the Members’ Representative, and Zions First National Bank
pursuant to Section 2.04(b) of the Merger Agreement.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the Commission promulgated thereunder, all as the same shall be in effect at the
time.

     “Form S-3” is defined in Section 2.3.

     “Indemnified Party” is defined in Section 4.3.

     “Indemnifying Party” is defined in Section 4.3.

     “Stockholder Indemnified Party” is defined in Section 4.1.

     “Maximum Number of Shares” is defined in Section 2.1.4.

     “Merger Agreement” is defined in the recitals to this Agreement.

     “Notices” is defined in Section 6.2.

     “Piggy-Back Registration” is defined in Section 2.2.1.

     “Register,” “Registered” and “Registration” mean a registration
effected by preparing and filing a registration statement or similar document in compliance with
the requirements of the Securities Act, and the applicable rules and regulations promulgated
thereunder, and such registration statement becoming effective.

     “Registrable Securities” mean all of the shares of Common Stock and Warrants owned or
held by the Stockholders and all of the shares of Common Stock issuable upon exercise of the
Warrants, whether or not such shares of Common Stock or Warrants are then subject to the Escrow
Agreement. Registrable Securities include any warrants, shares of capital stock or other securities
of the Company issued as a dividend or other distribution with respect to or in exchange for or in
replacement of such shares of Common Stock. As to any particular Registrable Securities, such
securities shall cease to be Registrable Securities when: (a) a Registration Statement with respect
to the sale of such securities shall have become effective under the Securities Act and such
securities shall have been sold, transferred, disposed of or exchanged in accordance with such
Registration Statement; (b) such securities shall have been otherwise transferred, new certificates
for them not bearing a legend restricting further transfer shall have been delivered by the Company
and subsequent public distribution of them shall not require registration under the Securities Act;
(c) such securities shall have ceased to be outstanding, (d) the Securities and Exchange Commission
makes a definitive determination to the Company that the Registrable Securities are salable under
Rule 144(k), or (e) such securities shall no longer be entitled to registration rights pursuant to
the terms hereof.

     “Registration Statement” means a registration statement filed by the Company with the
Commission in compliance with the Securities Act and the rules and regulations promulgated
thereunder for a public offering and sale of Common Stock (other than a registration statement on
Form S-4 or Form S-8, or their successors, or any registration statement covering only securities
proposed to be issued in exchange for securities or assets of another entity).

     “Release Date” means the date that is six months after the Effective Time as defined
in the Merger Agreement.

     “Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder, all as the same shall be in effect at the
time.

     “Time of Sale” means the time and date as of which contracts for sale of Registrable
Securities are deemed made pursuant to a Registration Statement filed pursuant to this Agreement.

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     “Underwriter” means a securities dealer who purchases any Registrable Securities as
principal in an underwritten offering and not as part of such dealer’s market-making activities.

     “Warrants” means those Parent Warrants and Redemption Warrants issued by the Company
to the Stockholders as Merger Consideration pursuant to the Merger Agreement.

2. REGISTRATION RIGHTS.

     2.1 Demand Registration.

     2.1.1 Request for Registration by the Stockholders. At any time and from time to time
on or after the Release Date, Members’ Representative or, if the Members’ Representative ceases to
act as such, the holders of a majority-in-interest of the Registrable Securities held by the
Stockholders or the transferees of the Stockholders, may make up to four (4) written demands for a
Demand Registration. The Company will notify the Stockholders of its receipt of and intent to act
upon the demand, and each Stockholder shall notify the Company within fifteen (15) days after the
receipt by the holder of the notice from the Company specifying the number of Registerable
Securities that such Demanding Holder wishes to include in such Demand Registration and the
intended method(s) of distribution thereof. Upon any such request, the Demanding Holders shall be
entitled to have their Registrable Securities included in the Demand Registration, subject to
Section 2.1.4 and the provisos set forth in Section 3.1.1. The Company shall not be obligated to
effect more than an aggregate of four (4) Demand Registrations under this Section 2.1.1 in respect
of Registrable Securities.

     2.1.2 Effective Registration. A registration will not count as a Demand Registration
until the Registration Statement filed with the Commission with respect to such Demand Registration
has been declared effective and the Company has complied with all of its obligations under this
Agreement with respect thereto; provided, however, that if, after such Registration Statement has
been declared effective, the offering of Registrable Securities pursuant to a Demand Registration
is interfered with by any stop order or injunction of the Commission or any other governmental
agency or court, the Registration Statement with respect to such Demand Registration will be deemed
not to have been declared effective, unless and until, (i) such stop order or injunction is
removed, rescinded or otherwise terminated, and (ii) the Members’ Representative or a
majority-in-interest of the Demanding Holders, whichever is applicable, thereafter elect to
continue the offering; provided, further, that the Company shall not be obligated to file a second
Registration Statement until a Registration Statement that has been filed is counted as a Demand
Registration or is terminated.

     2.1.3 Underwritten Offering. If the Members’ Representative or a majority-in-interest
of the Demanding Holders, whichever is applicable, so elects and such holders so advise the Company
as part of their written demand for a Demand Registration, the offering of such Registrable
Securities pursuant to such Demand Registration shall be in the form of an underwritten offering.
In such event, the right of any holder to include its Registrable Securities in such registration
shall be conditioned upon such holder’s participation in such underwriting and the inclusion of
such holder’s Registrable Securities in the underwriting to the extent provided herein. All
Demanding Holders proposing to distribute their securities through such underwriting shall enter
into an underwriting agreement in customary form with the Underwriter or Underwriters selected for
such underwriting by the Members’ Representative or a majority-in-interest of the holders
initiating the Demand Registration, whichever is applicable.

     2.1.4 Reduction of Offering. If the managing Underwriter or Underwriters for a Demand
Registration that is to be an underwritten offering advises the Company and the Demanding Holders
in writing that the dollar amount or number of shares of Registrable Securities which the Demanding
Holders desire to sell, taken together with all other shares of Common Stock or other securities
which the Company desires to sell and the shares of Common Stock, if any, as to which registration
has been requested pursuant to written contractual piggy-back registration rights held by other
stockholders of the Company who desire to sell, exceeds the maximum dollar amount or maximum number
of shares that can be sold in such offering without adversely affecting the proposed offering
price, the timing, the distribution method, or the probability of success of such offering (such
maximum dollar amount or maximum number of shares, as applicable, the “Maximum Number of
Shares”), then the Company shall include in such registration: (i) first, the Registrable
Securities as to which such Demand Registration has been requested by the Demanding Holders (pro
rata in accordance with the number of shares that each such Person has requested be included in
such registration, regardless of the number of shares held by each such Person (such proportion is

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referred to herein as “Pro Rata”)) that can be sold without exceeding the Maximum
Number of Shares; (ii) second, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (i), the shares of Common Stock or other securities that the Company
desires to sell that can be sold without exceeding the Maximum Number of Shares; and (iii) third,
to the extent that the Maximum Number of Shares have not been reached under the foregoing clauses
(i) and (ii), the shares of Common Stock or other securities for the account of other persons that
the Company is obligated to register pursuant to written contractual arrangements with such persons
and that can be sold without exceeding the Maximum Number of Shares.

     2.1.5 Withdrawal. If the Members’ Representative or a majority-in-interest of the
Demanding Holders, whichever is applicable, disapprove of the terms of any underwriting or are not
entitled to include all of their Registrable Securities in any offering, the Members’
Representative or such majority-in-interest of the Demanding Holders, whichever is applicable, may
elect to withdraw from such offering by giving written notice to the Company and the Underwriter or
Underwriters of their request to withdraw prior to the effectiveness of the Registration Statement
filed with the Commission with respect to such Demand Registration. If the Members’ Representative
or such majority-in-interest of the Demanding Holders withdraws from a proposed offering relating
to a Demand Registration, then such registration shall be terminated and withdrawn and shall not
count as a Demand Registration provided for in Section 2.1.

     2.2 Piggy-Back Registration.

     2.2.1 Piggy-Back Rights. If at any time on or after the Release Date the Company
proposes to file a Registration Statement under the Securities Act with respect to an offering of
equity securities, or securities or other obligations exercisable or exchangeable for, or
convertible into, equity securities, by the Company for its own account or for stockholders of the
Company for their account (or by the Company and by stockholders of the Company including, without
limitation, pursuant to Section 2.1), other than a Registration Statement (i) filed in connection
with any employee stock option or other benefit plan, (ii) for an exchange offer or offering of
securities solely to the Company’s existing stockholders, (iii) for an offering of debt that is
convertible into equity securities of the Company or (iv) for a dividend reinvestment plan, then
the Company shall (x) give written notice of such proposed filing to the holders of Registrable
Securities as soon as practicable but in no event less than ten (10) days before the anticipated
filing date, which notice shall describe the amount and type of securities to be included in such
offering, the intended method(s) of distribution, and the name of the proposed managing Underwriter
or Underwriters, if any, of the offering, and (y) offer to the holders of Registrable Securities in
such notice the opportunity to register the sale of such number of shares of Registrable Securities
as such holders may request in writing within five (5) days following receipt of such notice (a
“Piggy-Back Registration”). The Company shall cause such Registrable Securities to be
included in such registration and shall use its best efforts to cause the managing Underwriter or
Underwriters of a proposed underwritten offering to permit the Registrable Securities requested to
be included in a Piggy-Back Registration on the same terms and conditions as any similar securities
of the Company and to permit the sale or other disposition of such Registrable Securities in
accordance with the intended method(s) of distribution thereof. All holders of Registrable
Securities proposing to distribute their securities through a Piggy-Back Registration that involves
an Underwriter or Underwriters shall enter into an underwriting agreement in customary form with
the Underwriter or Underwriters selected for such Piggy-Back Registration.

     2.2.2 Reduction of Offering. If the managing Underwriter or Underwriters for a
Piggy-Back Registration that is to be an underwritten offering advises the Company and the holders
of Registrable Securities in writing that the dollar amount or number of shares of Common Stock
which the Company desires to sell, taken together with shares of Common Stock, if any, as to which
registration has been demanded pursuant to written contractual arrangements with persons other than
the holders of Registrable Securities hereunder, the Registrable Securities as to which
registration has been requested under this Section 2.2, and the shares of Common Stock, if any, as
to which registration has been requested pursuant to the written contractual piggy-back
registration rights of other stockholders of the Company, exceeds the Maximum Number of Shares,
then the Company shall include in any such registration:

     (i) If the registration is undertaken for the Company’s account: (A) first, the shares of
Common Stock or other securities that the Company desires to sell that can be sold without
exceeding the Maximum Number of Shares; (B) second, to the extent that the Maximum Number of Shares
has not been reached under the foregoing clause (A), the shares of Common Stock or other
securities, if any, comprised of Registrable Securities, as to which registration has

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been requested pursuant to the applicable written contractual piggy-back registration rights
of such security holders, Pro Rata, that can be sold without exceeding the Maximum Number of
Shares; and (C) third, to the extent that the Maximum Number of shares has not been reached under
the foregoing clauses (A) and (B), the shares of Common Stock or other securities for the account
of other persons that the Company is obligated to register pursuant to written contractual
piggy-back registration rights with such persons and that can be sold without exceeding the Maximum
Number of Shares; and

     (ii) If the registration is a “demand” registration undertaken at the demand of persons other
than the holders of Registrable Securities, (A) first, the shares of Common Stock or other
securities for the account of the demanding persons that can be sold without exceeding the Maximum
Number of Shares; (B) second, to the extent that the Maximum Number of Shares has not been reached
under the foregoing clause (A), collectively the shares of Common Stock or other securities
comprised of Registrable Securities, pro rata, as to which registration has been requested pursuant
to the terms hereof, that can be sold without exceeding the Maximum Number of Shares; (C) third, to
the extent that the Maximum Number of Shares has not been reached under the foregoing clauses (A)
and (B), the shares of Common Stock or other securities that the Company desires to sell that can
be sold without exceeding the Maximum Number of Shares; and (D) fourth, to the extent that the
Maximum Number of Shares has not been reached under the foregoing clauses (A), (B) and (C), the
shares of Common Stock or other securities for the account of other persons that the Company is
obligated to register pursuant to written contractual arrangements with such persons, that can be
sold without exceeding the Maximum Number of Shares. .

     2.2.3 Withdrawal. Any holder of Registrable Securities may elect to withdraw such
holder’s request for inclusion of Registrable Securities in any Piggy-Back Registration by giving
written notice to the Company of such request to withdraw prior to the effectiveness of the
Registration Statement. The Company (whether on its own determination or as the result of a
withdrawal by persons making a demand pursuant to written contractual obligations) may withdraw a
registration statement at any time prior to the effectiveness of the Registration Statement.
Notwithstanding any such withdrawal, the Company shall pay all expenses incurred by the holders of
Registrable Securities in connection with such Piggy-Back Registration as provided in Section 3.3.

     2.3 Registrations on Form S-3. The holders of Registrable Securities may at any time
and from time to time, request in writing that the Company register the resale of any or all of
such Registrable Securities on Form S-3 or any similar short-form registration which may be
available at such time (“Form S-3”); provided, however, that the Company shall not be
obligated to effect such request through an underwritten offering. Upon receipt of such written
request, the Company will promptly give written notice of the proposed registration to all other
holders of Registrable Securities, and, as soon as practicable thereafter, effect the registration
of all or such portion of such holder’s or holders’ Registrable Securities as are specified in such
request, together with all or such portion of the Registrable Securities or other securities of the
Company, if any, of any other holder or holders joining in such request as are specified in a
written request given within fifteen (15) days after receipt of such written notice from the
Company; provided, however, that the Company shall not be obligated to effect any such registration
pursuant to this Section 2.3: (i) if Form S-3 is not available for such offering; or (ii) if the
holders of the Registrable Securities, together with the holders of any other securities of the
Company entitled to inclusion in such registration, propose to sell Registrable Securities and such
other securities (if any) at any aggregate price to the public of less than $500,000. Registrations
effected pursuant to this Section 2.3 shall not be counted as Demand Registrations effected
pursuant to Section 2.1.

3. REGISTRATION PROCEDURES.

     3.1 Filings; Information. Whenever the Company is required to effect the registration
of any Registrable Securities pursuant to Section 2, the Company shall use its best efforts to
effect the registration and sale of such Registrable Securities in accordance with the intended
method(s) of distribution thereof as expeditiously as practicable, and in connection with any such
request:

     3.1.1 Filing Registration Statement. The Company shall, as expeditiously as possible
and in any event within sixty (60) days after receipt of a request for a Demand Registration
pursuant to Section 2.1, prepare and file with the Commission a Registration Statement on any form
for which the Company then qualifies or which counsel for the Company shall deem appropriate and
which form shall be available for the sale of all Registrable Securities to be registered
thereunder in accordance with the intended method(s) of distribution thereof, and shall use its
best efforts

5

 

to cause such Registration Statement to become and remain effective for the period required by
Section 3.1.3; provided, however, that the Company shall have the right to defer any Demand
Registration for up to thirty (30) days, and any Piggy-Back Registration for such period as may be
applicable to deferment of any demand registration to which such Piggy-Back Registration relates,
in each case if the Company shall furnish to the holders a certificate signed by the Chief
Executive Officer or President of the Company stating that, in the good faith judgment of the Board
of Directors of the Company, it would be materially detrimental to the Company and its stockholders
for such Registration Statement to be effected at such time; provided further, however, that the
Company shall not have the right to exercise the right set forth in the immediately preceding
proviso more than once in any 365-day period in respect of a Demand Registration hereunder.

     3.1.2 Copies. The Company shall, prior to filing a Registration Statement or
prospectus, or any amendment or supplement thereto, furnish without charge to the holders of
Registrable Securities included in such registration, and such holders’ legal counsel, copies of
such Registration Statement as proposed to be filed, each amendment and supplement to such
Registration Statement (in each case including all exhibits thereto and documents incorporated by
reference therein), the prospectus included in such Registration Statement (including each
preliminary prospectus), and such other documents as the holders of Registrable Securities included
in such registration or legal counsel for any such holders may request in order to facilitate the
disposition of the Registrable Securities owned by such holders.

     3.1.3 Amendments and Supplements. The Company shall prepare and file with the
Commission such amendments, including post-effective amendments, and supplements to such
Registration Statement and the prospectus used in connection therewith as may be necessary to keep
such Registration Statement effective and in compliance with the provisions of the Securities Act
until all Registrable Securities and other securities covered by such Registration Statement have
been disposed of in accordance with the intended method(s) of distribution set forth in such
Registration Statement (which period shall not exceed the sum of one hundred eighty (180) days plus
any period during which any such disposition is interfered with by any stop order or injunction of
the Commission or any governmental agency or court) or such securities have been withdrawn.

     3.1.4 Notification. After the filing of a Registration Statement, the Company shall
promptly, and in no event more than two (2) business days after such filing, notify the holders of
Registrable Securities included in such Registration Statement of such filing, and shall further
notify such holders promptly and confirm such advice in writing in all events within two (2)
business days of the occurrence of any of the following: (i) when such Registration Statement
becomes effective; (ii) when any post-effective amendment to such Registration Statement becomes
effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the
Company shall take all actions required to prevent the entry of such stop order or to remove it if
entered); and (iv) any request by the Commission for any amendment or supplement to such
Registration Statement or any prospectus relating thereto or for additional information or of the
occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so
that, as thereafter delivered to the purchasers of the securities covered by such Registration
Statement, such prospectus will not contain an untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein not
misleading, and promptly make available to the holders of Registrable Securities included in such
Registration Statement any such supplement or amendment; except that before filing with the
Commission a Registration Statement or prospectus or any amendment or supplement thereto, including
documents incorporated by reference, the Company shall furnish to the holders of Registrable
Securities included in such Registration Statement and to the legal counsel for any such holders,
copies of all such documents proposed to be filed sufficiently in advance of filing to provide such
holders and legal counsel with a reasonable opportunity to review such documents and comment
thereon, and the Company shall not file any Registration Statement or prospectus or amendment or
supplement thereto, including documents incorporated by reference, to which such holders or their
legal counsel shall object.

     3.1.5 State Securities Laws Compliance. The Company shall use its best efforts to (i)
register or qualify the Registrable Securities covered by the Registration Statement under such
securities or “blue sky” laws of such jurisdictions in the United States as the holders of
Registrable Securities included in such Registration Statement (in light of their intended plan of
distribution) may request and (ii) take such action necessary to cause such Registrable Securities
covered by the Registration Statement to be registered with or approved by such other Governmental
Authorities as may be necessary by virtue of the business and operations of the Company and do any
and all other acts and things that may be necessary or advisable to enable the holders of
Registrable Securities included in such

6

 

Registration Statement to consummate the disposition of such Registrable Securities in such
jurisdictions; provided, however, that the Company shall not be required to qualify generally to do
business in any jurisdiction where it would not otherwise be required to qualify but for this
paragraph or subject itself to taxation in any such jurisdiction.

     3.1.6 Agreements for Disposition. The Company shall enter into customary agreements
(including, if applicable, an underwriting agreement in customary form) and take such other actions
as are reasonably required in order to expedite or facilitate the disposition of such Registrable
Securities. The representations, warranties and covenants of the Company in any underwriting
agreement which are made to or for the benefit of any Underwriters, to the extent applicable, shall
also be made to and for the benefit of the holders of Registrable Securities included in such
Registration Statement. No holder of Registrable Securities included in such Registration Statement
shall be required to make any representations or warranties in the underwriting agreement except,
if applicable, with respect to such holder’s organization, good standing, authority, title to
Registrable Securities, lack of conflict of such sale with such holder’s material agreements and
organizational documents, and with respect to written information relating to such holder that such
holder has furnished in writing expressly for inclusion in such Registration Statement.

     3.1.7 Cooperation. The principal executive officer of the Company, the principal
financial officer of the Company, the principal accounting officer of the Company and all other
officers and members of the management of the Company shall cooperate fully in any offering of
Registrable Securities hereunder, which cooperation shall include, without limitation, the
preparation of the Registration Statement with respect to such offering and all other offering
materials and related documents, and participation in meetings with Underwriters, attorneys,
accountants and potential investors.

     3.1.8 Records. The Company shall make available for inspection by the holders of
Registrable Securities included in such Registration Statement, any Underwriter participating in
any disposition pursuant to such Registration Statement and any attorney, accountant or other
professional retained by any holder of Registrable Securities included in such Registration
Statement or any Underwriter, all financial and other records, pertinent corporate documents and
properties of the Company, as shall be necessary to enable them to exercise their due diligence
responsibility, and cause the Company’s officers, directors and employees to supply all information
requested by any of them in connection with such Registration Statement.

     3.1.9 Opinions and Comfort Letters. The Company shall furnish to each holder of
Registrable Securities included in any Registration Statement a signed counterpart, addressed to
such holder, of (i) any opinion of counsel to the Company delivered to any Underwriter and (ii) any
comfort letter from the Company’s independent public accountants delivered to any Underwriter. In
the event no legal opinion is delivered to any Underwriter, the Company shall furnish to each
holder of Registrable Securities included in such Registration Statement, at any time that such
holder elects to use a prospectus, an opinion of counsel to the Company to the effect that the
Registration Statement containing such prospectus has been declared effective and that no stop
order is in effect.

     3.1.10 Earnings Statement. The Company shall comply with all applicable rules and
regulations of the Commission and the Securities Act, and make available to its stockholders, as
soon as practicable, an earnings statement covering a period of twelve (12) months, beginning
within three (3) months after the effective date of the registration statement, which earnings
statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158
thereunder.

     3.1.11 Listing. The Company shall use its best efforts to cause all Registrable
Securities included in any registration to be listed on such exchanges or otherwise designated for
trading in the same manner as similar securities issued by the Company are then listed or
designated or, if no such similar securities are then listed or designated, in a manner
satisfactory to the holders of a majority of the Registrable Securities included in such
registration.

     3.2 Obligation to Suspend Distribution. Upon receipt of any notice from the Company of
the happening of any event of the kind described in Section 3.1.4(iv), or, in the case of a resale
registration on Form S-3 pursuant to Section 2.3 hereof, upon any suspension by the Company,
pursuant to a written insider trading compliance program adopted by the Company’s Board of
Directors, of the ability of all “insiders” covered by such program to transact in the Company’s
securities because of the existence of material non-public information, each holder of Registrable

7

 

Securities included in any registration shall immediately discontinue disposition of such
Registrable Securities pursuant to the Registration Statement covering such Registrable Securities
until such holder receives the supplemented or amended prospectus contemplated by Section 3.1.4(iv)
or the restriction on the ability of “insiders” to transact in the Company’s securities is removed,
as applicable, and, if so directed by the Company, each such holder will deliver to the Company all
copies, other than permanent file copies then in such holder’s possession, of the most recent
prospectus covering such Registrable Securities at the time of receipt of such notice.

     3.3 Registration Expenses. The Company shall bear all costs and expenses incurred in
connection with any Demand Registration pursuant to Section 2.1, any Piggy-Back Registration
pursuant to Section 2.2, and any registration on Form S-3 effected pursuant to Section 2.3, and all
expenses incurred in performing or complying with its other obligations under this Agreement,
whether or not the Registration Statement becomes effective, including, without limitation: (i) all
registration and filing fees; (ii) fees and expenses of compliance with securities or “blue sky”
laws (including fees and disbursements of counsel in connection with blue sky qualifications of the
Registrable Securities); (iii) printing expenses; (iv) the Company’s internal expenses (including,
without limitation, all salaries and expenses of its officers and employees); (v) the fees and
expenses incurred in connection with the listing of the Registrable Securities as required by
Section 3.1.11; (vi) National Association of Securities Dealers, Inc. fees; (vii) fees and
disbursements of counsel for the Company and fees and expenses for independent certified public
accountants retained by the Company (including the expenses or costs associated with the delivery
of any opinions or comfort letters requested pursuant to Section 3.1.9); (viii) the fees and
expenses of any special experts retained by the Company in connection with such registration and
(ix) the fees and expenses of one legal counsel selected by the Members’ Representative or the
holders of a majority-in-interest of the Registrable Securities included in such registration,
whichever is applicable. The Company shall have no obligation to pay any underwriting discounts or
selling commissions attributable to the Registrable Securities being sold by the holders thereof,
which underwriting discounts or selling commissions shall be borne by such holders. Additionally,
in an underwritten offering, all selling stockholders and the Company shall bear the expenses of
the underwriter pro rata in proportion to the respective amount of shares each is selling in such
offering.

     3.4 Information. The holders of Registrable Securities shall provide such information
as may reasonably be requested by the Company, or the managing Underwriter, if any, in connection
with the preparation of any Registration Statement, including amendments and supplements thereto,
in order to effect the registration of any Registrable Securities under the Securities Act pursuant
to Section 2 and in connection with the Company’s obligation to comply with federal and applicable
state securities laws.

     3.5 Form S-3 Availability. For so long as any Registerable Securities are outstanding,
the Company will (a) not incorporation or reincorporate in any jurisdiction other than one of the
United States; (b) maintain its principal place of business in the United States; (c) maintain a
class of securities registered under Section 12(b) or 12(g) of the Exchange Act; (d) timely file
when due all reports required to be filed by it under Section 13, 14 or 15(d) of the Exchange Act
(other than reports required pursuant to Items 1.01, 1.02, 2.03, 2.04, 2.05, 2.06, 4.02(a), 6.01,
6.03 or 6.05 of Form 8-K); (e) pay when due all dividends and installments of any sinking fund
relating to preferred stock, (f) not default on (i) any installments of principal and interest on
any indebtedness or (ii) any rents under any long-term lease such that any such defaults in the
aggregate would be material to the consolidated financial position of the Company and its
subsidiaries, taken as a whole; and (g) maintain the Common Stock as listed and registered on a
national securities exchange or quoted on the automated quotation system of a national securities
association in accordance with General Instruction I.B.3. to Form S-3.

     3.6 Outstanding Agreements. The Company has provided the Stockholders with copies of
all outstanding agreements providing for the demand registration or piggyback registration of
securities issued by the Company.

4. INDEMNIFICATION AND CONTRIBUTION.

     4.1 Indemnification by the Company. The Company agrees to indemnify and hold harmless
each Stockholder and each other holder of Registrable Securities, and each of their respective
officers, employees, affiliates, directors, partners, members, attorneys and agents, and each
person, if any, who controls a Stockholder and each other holder of Registrable Securities (within
the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, an
“Stockholder Indemnified Party”), from and against any expenses, losses, judgments, claims,
damages or liabilities, whether joint or several, arising out of or based upon any untrue statement
(or allegedly untrue

8

 

statement) of a material fact contained in any Registration Statement under which the sale of
such Registrable Securities was registered under the Securities Act, any preliminary prospectus,
final prospectus, summary prospectus or Disclosure Package contained in the Registration Statement,
or any amendment or supplement to such Registration Statement or Disclosure Package, or arising out
of or based upon any omission (or alleged omission) to state a material fact required to be stated
therein or necessary to make the statements therein not misleading, or any violation by the Company
of the Securities Act or any rule or regulation promulgated thereunder applicable to the Company
and relating to action or inaction required of the Company in connection with any such
registration; and the Company shall promptly reimburse the Stockholder Indemnified Party for any
legal and any other expenses reasonably incurred by such Stockholder Indemnified Party in
connection with investigating and defending any such expense, loss, judgment, claim, damage,
liability or action; provided, however, that the Company will not be liable in any such case to the
extent that any such expense, loss, claim, damage or liability arises out of or is based upon any
untrue statement or allegedly untrue statement or omission or alleged omission made in such
Registration Statement, preliminary prospectus, final prospectus, summary prospectus or Disclosure
Package, or any such amendment or supplement, in reliance upon and in conformity with information
furnished to the Company, in writing, by such selling holder expressly for use therein. The Company
also shall indemnify any Underwriter of the Registrable Securities, their officers, affiliates,
directors, partners, members and agents and each person who controls such Underwriter on
substantially the same basis as that of the indemnification provided above in this Section 4.1.

     4.2 Indemnification by Holders of Registrable Securities. Each selling holder of
Registrable Securities will, in the event that any registration is being effected under the
Securities Act pursuant to this Agreement of any Registrable Securities held by such selling
holder, indemnify and hold harmless the Company, each of its directors and officers and each
underwriter (if any), and each other selling holder and each other person, if any, who controls
another selling holder or such underwriter within the meaning of the Securities Act, against any
losses, claims, judgments, damages or liabilities, whether joint or several, insofar as such
losses, claims, judgments, damages or liabilities (or actions in respect thereof) arise out of or
are based upon any untrue statement or allegedly untrue statement of a material fact contained in
any Registration Statement or Disclosure Package under which the sale of such Registrable
Securities was registered under the Securities Act, any preliminary prospectus, final prospectus or
summary prospectus contained in the Registration Statement or Disclosure Package, or any amendment
or supplement to the Registration Statement, or arise out of or are based upon any omission or the
alleged omission to state a material fact required to be stated therein or necessary to make the
statement therein not misleading, if the statement or omission was made in reliance upon and in
conformity with information furnished in writing to the Company by such selling holder expressly
for use therein, and shall reimburse the Company, its directors and officers, and each other
selling holder or controlling person for any legal or other expenses reasonably incurred by any of
them in connection with investigation or defending any such loss, claim, damage, liability or
action. Each selling holder’s indemnification obligations hereunder shall be several and not joint
and shall be limited to the amount of any net proceeds actually received by such selling holder.

     4.3 Conduct of Indemnification Proceedings. Promptly after receipt by any person of
any notice of any loss, claim, damage or liability or any action in respect of which indemnity may
be sought pursuant to Section 4.1 or 4.2, such person (the “Indemnified Party”) shall, if a
claim in respect thereof is to be made against any other person for indemnification hereunder,
notify such other person (the “Indemnifying Party”) in writing of the loss, claim,
judgment, damage, liability or action; provided, however, that the failure by the Indemnified Party
to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability which
the Indemnifying Party may have to such Indemnified Party hereunder, except and solely to the
extent the Indemnifying Party is actually prejudiced by such failure. If the Indemnified Party is
seeking indemnification with respect to any claim or action brought against the Indemnified Party,
then the Indemnifying Party shall be entitled to participate in such claim or action, and, to the
extent that it wishes, jointly with all other Indemnifying Parties, to assume control of the
defense thereof with counsel satisfactory to the Indemnified Party. After notice from the
Indemnifying Party to the Indemnified Party of its election to assume control of the defense of
such claim or action, the Indemnifying Party shall not be liable to the Indemnified Party for any
legal or other expenses subsequently incurred by the Indemnified Party in connection with the
defense thereof other than reasonable costs of investigation; provided, however, that in any action
in which both the Indemnified Party and the Indemnifying Party are named as defendants, the
Indemnified Party shall have the right to employ separate counsel (but no more than one such
separate counsel) to represent the Indemnified Party and its controlling persons who may be subject
to liability arising out of any claim in respect of which indemnity may be sought by the
Indemnified Party against the Indemnifying Party, with the fees

9

 

and expenses of such counsel to be paid by such Indemnifying Party if, based upon the written
opinion of counsel of such Indemnified Party, representation of both parties by the same counsel
would be inappropriate due to actual or potential differing interests between them. No Indemnifying
Party shall, without the prior written consent of the Indemnified Party, consent to entry of
judgment or effect any settlement of any claim or pending or threatened proceeding in respect of
which the Indemnified Party is or could have been a party and indemnity could have been sought
hereunder by such Indemnified Party, unless such judgment or settlement includes an unconditional
release of such Indemnified Party from all liability arising out of such claim or proceeding.

     4.4 Contribution.

     4.4.1 If the indemnification provided for in the foregoing Sections 4.1, 4.2 and 4.3 is
unavailable to any Indemnified Party in respect of any loss, claim, damage, liability or action
referred to herein, then each such 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
loss, claim, damage, liability or action in such proportion as is appropriate to reflect the
relative fault of the Indemnified Parties and the Indemnifying Parties in connection with the
actions or omissions which resulted in such loss, claim, damage, liability or action, as well as
any other relevant equitable considerations. The relative fault of any Indemnified Party and any
Indemnifying Party shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.

     4.4.2 The parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 4.4 were determined by pro rata allocation or by any other method of
allocation which does not take account of the equitable considerations referred to in the
immediately preceding Section.

     4.4.3 The amount paid or payable by an Indemnified Party as a result of any loss, claim,
damage, liability or action referred to in the immediately preceding paragraph shall be deemed to
include, subject to the limitations set forth above, any legal or other expenses incurred by such
Indemnified Party in connection with investigating or defending any such action or claim.
Notwithstanding the provisions of this Section 4.4, no holder of Registrable Securities shall be
required to contribute any amount in excess of the dollar amount of the net proceeds (after payment
of any underwriting fees, discounts, commissions or taxes) actually received by such holder from
the sale of Registrable Securities which gave rise to such contribution obligation. No person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any person who was not guilty of such fraudulent
misrepresentation.

5. UNDERWRITING AND DISTRIBUTION.

     5.1 Rule 144. The Company covenants that it shall file any reports required to be
filed by it under the Securities Act and the Exchange Act and shall take such further action as the
holders of Registrable Securities may reasonably request, all to the extent required from time to
time to enable such holders to sell Registrable Securities without registration under the
Securities Act within the limitation of the exemptions provided by Rule 144 under the Securities
Act, as such Rule may be amended from time to time, or any similar Rule or regulation hereafter
adopted by the Commission.

6. MISCELLANEOUS.

     6.1 Assignment; No Third Party Beneficiaries. This Agreement and the rights, duties
and obligations of the Company hereunder may not be assigned or delegated by the Company in whole
or in part. This Agreement and the rights, duties and obligations of the holders of Registrable
Securities hereunder may be freely assigned or delegated by such holder of Registrable Securities
in conjunction with and to the extent of any transfer of Registrable Securities by any such holder.
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of
each of the parties and their respective successors, and the permitted assigns of the Stockholder
or holder of Registrable Securities or of any assignee of the Stockholder or holder of Registrable
Securities. The Company acknowledges that the Registerable Securities may be held from time to time
by an escrow agent pursuant to the Escrow Agreement and specifically consents to the exercise of
the rights of the Stockholders under this Agreement

10

 

in the manner described in the Escrow Agreement. This Agreement is not intended to confer any
rights or benefits on any persons that are not party hereto other than as expressly set forth in
Article 4 and this Section 6.1.

     6.2 Notices. All notices, demands, requests, consents, approvals or other
communications (collectively, “Notices”) required or permitted to be given hereunder or
which are given with respect to this Agreement shall be in writing and shall be personally served,
delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery,
telegram, telex or facsimile, addressed as set forth below, or to such other address as such party
shall have specified most recently by written notice. Notice shall be deemed given on the date of
service or transmission if personally served or transmitted by telegram, telex or facsimile;
provided, that if such service or transmission is not on a business day or is after normal business
hours, then such notice shall be deemed given on the next business day. Notice otherwise sent as
provided herein shall be deemed given on the next business day following timely delivery of such
notice to a reputable air courier service with an order for next-day delivery.

     To the Company:

     JK Acquisition Corp.

     4400 Post Oak Parkway, Suite 2530

     Houston, Texas 77057

     Facsimile No.: (713) 552-9226

     Attn: President

     with a copy to:

     Patton Boggs LLP

     2001 Ross Avenue, Suite 3000

     Dallas, Texas 75201

     Facsimile No.: (214) 758-1550

     Attn: Fred S. Stovall, Esq.

     To a Stockholder, to:

     The address of such Stockholder as set forth on the signature pages hereto

     with a copy to:

     Catalyst/Hall Growth Capital Management Co., LLC

     2 Riverway, Suite 1710

     Houston, Texas 77056

     Facsimile No.: (713) 623-0473

     Attention: Ron Nixon and Rick Herrman

     [Designee]

     [Address]

     [Address]

     [Facsimile No.:]

     [Attention:]

     Franklin, Cardwell & Jones, P.C.

     1001 McKinney, Suite 1800

     Houston, Texas 77002

     Attention: Randolph Ewing, Esq.

     Facsimile: (713) 623-0478

     6.3 Severability. This Agreement shall be deemed severable, and the invalidity or
unenforceability of any term or provision hereof shall not affect the validity or enforceability of
this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that

11

 

there shall be added as a part of this Agreement a provision as similar in terms to such
invalid or unenforceable provision as may be possible that is valid and enforceable.

     6.4 Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed an original, and all of which taken together shall constitute one and the
same instrument.

     6.5 Entire Agreement. This Agreement (including all agreements entered into pursuant
hereto and all certificates and instruments delivered pursuant hereto and thereto) constitute the
entire agreement of the parties with respect to the subject matter hereof and supersede all prior
and contemporaneous agreements, representations, understandings, negotiations and discussions
between the parties, whether oral or written.

     6.6 Modifications and Amendments. No amendment, modification or termination of this
Agreement shall be binding upon any party unless executed in writing by such party.

     6.7 Titles and Headings. Titles and headings of sections of this Agreement are for
convenience only and shall not affect the construction of any provision of this Agreement.

     6.8 Waivers and Extensions. Any party to this Agreement may waive any right, breach or
default which such party has the right to waive, provided that such waiver will not be effective
against the waiving party unless it is in writing, is signed by such party, and specifically refers
to this Agreement. Waivers may be made in advance or after the right waived has arisen or the
breach or default waived has occurred. Any waiver may be conditional. No waiver of any breach of
any agreement or provision herein contained shall be deemed a waiver of any preceding or succeeding
breach thereof or of any other agreement or provision herein contained. No waiver or extension of
time for performance of any obligations or acts shall be deemed a waiver or extension of the time
for performance of any other obligations or acts.

     6.9 Remedies Cumulative. In the event that the Company fails to observe or perform any
covenant or agreement to be observed or performed under this Agreement, the Stockholder or any
other holder of Registrable Securities may proceed to protect and enforce its rights by suit in
equity or action at law, whether for specific performance of any term contained in this Agreement
or for an injunction against the breach of any such term or in aid of the exercise of any power
granted in this Agreement or to enforce any other legal or equitable right, or to take any one or
more of such actions, without being required to post a bond. None of the rights, powers or remedies
conferred under this Agreement shall be mutually exclusive, and each such right, power or remedy
shall be cumulative and in addition to any other right, power or remedy, whether conferred by this
Agreement or now or hereafter available at law, in equity, by statute or otherwise.

     6.10 Governing Law. This Agreement shall be governed by, interpreted under, and
construed in accordance with the internal laws of the State of New York applicable to agreements
made and to be performed within the State of New York, without giving effect to any choice-of-law
provisions thereof that would compel the application of the substantive laws of any other
jurisdiction.

     6.11 Waiver of Trial by Jury. Each party hereby irrevocably and unconditionally waives
the right to a trial by jury in any action, suit, counterclaim or other proceeding (whether based
on contract, tort or otherwise) arising out of, connected with or relating to this Agreement, the
transactions contemplated hereby, or the actions of the Stockholders in the negotiation,
administration, performance or enforcement hereof.

[Remainder of this page intentionally left blank; signature pages follows.]

12

 

     IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be executed
and delivered by their duly authorized representatives as of the date first written above.

	 	 	 	 	 	 	 	 	 
	 	 	JK ACQUISITION CORP.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	By: Keith D. Spickelmier, President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	CATALYST/HALL GROWTH CAPITAL MANAGEMENT CO., LLC (as
the Members’ Representative)	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	By: Rick Herrman, President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[DESIGNEE] (as the Members’ Representative)	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	By: [Name, Title]	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	STOCKHOLDERS:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[INVESTOR]	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	CATALYST/HALL GROWTH CAPITAL, LP	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Catalyst/Hall Growth Capital Management Co., LLC	 	 
	 	 	 	 	Its sole general partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Rick Herrman	 	 
	 

	 	 	 	Title:
	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 

Registration
Rights Agreement – Signature Pages

 

 

	 	 	 	 	 	 	 	 	 
	 	 	CATALYST/HALL PRIVATE EQUITY, LP	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Catalyst/Hall Private Equity Management

Company, LLC	 	 
	 

	 	 	 	Its
	 	sole general partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Rick Herrman	 	 
	 

	 	 	 	Title:
	 	President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	CATALYST CAPITAL PARTNERS I, LTD.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	The Catalyst Group, Inc.	 	 
	 	 	 	 	Its sole general partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Rick Herrman	 	 
	 

	 	 	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	CATALYST CAPITAL PARTNERS II, LTD.	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	The Catalyst Group II, Inc.	 	 
	 	 	 	 	Its sole general partner	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	 	 	By:	 	 	 	 
	 

	 	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	 Rick Herrman	 	 
	 

	 	 	 	Title:
	 	 Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 

Registration
Rights Agreement – Signature Pages

 

 

	 	 	 	 	 	 	 	 	 
	 	 	CRF AIR, LLC	 	 
	 
	 	 	 	 	 	 	 	 
	 

	 	By:	 	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	Name:	 	Jay C. Jimerson	 	 
	 	 	Title:	 	Manager	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	ROBERT P. VILYUS	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	ALLEN NEEL	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	DAVID CUDD	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 

Registration
Rights Agreement – Signature Pages

 

 

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 
	 	 	PAUL CULBRETH	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Address for Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	[Address]	 	 
	 	 	[Address]	 	 
	 	 	[Facsimile No:]	 	 

Registration
Rights Agreement – Signature Pages

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00117-of-00352.parquet"}]]