Document:

exv10w14

 

Exhibit 10.14

________________, 2005

Ad.Venture Partners, Inc.

18 W. 18th Street, 11th Floor

New York, NY 10011

Re: Warrant Purchase Commitment of Managing Underwriters

Gentlemen:

     This letter is being delivered to you in connection with the Registration Statement on Form
S-1 (File No. 333-124141) (as may be amended and supplemented from time to time, the “Registration
Statement") that was initially filed by Ad.Venture Partners, Inc., a Delaware corporation (the
“Company"), with the Securities and Exchange Commission (the “SEC”) on April 18, 2005, which
relates to an underwritten initial public offering (the “IPO”) of the Company’s units (the
“Units"), each comprised of one share of the Company’s common stock, par value $0.0001 per share
(the “Common Stock"), and two warrants, each of which are exercisable for one share of Common Stock
(each, a “Warrant"). Capitalized terms used but not otherwise defined herein shall have the meaning
set forth on Schedule 1 hereto.

     In order to induce the Company to engage in the IPO and to take all steps necessary to effect
the IPO, including the filing of amendments to the Registration Statement with the SEC, and in
recognition of the benefit that such IPO will confer upon the undersigned as managing underwriters,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the undersigned hereby agrees with the Company as follows:

     (1) The undersigned shall, within the forty-five (45) calendar days commencing on the date
separate trading of the Warrants commences (the “Separation Date") pursuant to provisions set forth
in the warrant agreement governing the terms and conditions of such Warrants (the “Warrant
Agreement"), purchase for the undersigned’s own account up to $        of Warrants in the
public marketplace at prices not to exceed $0.70 per Warrant.

     (2) The
undersigned shall not offer, pledge, sell, transfer or otherwise dispose of, either directly or
indirectly, any Warrants purchased pursuant to this letter agreement until the Business Combination
Date.

     This letter agreement shall be binding on the undersigned and his respective successors and
assigns.

     This letter agreement shall be governed by and interpreted and construed in accordance with
the laws of the State of New York applicable to contracts formed and to be performed entirely
within the State of New York, without regard to the conflicts of law provisions thereof to the
extent such principles or rules would require or permit the application of the laws of another
jurisdiction.

     No term or provision of this letter agreement may be amended, changed, waived, altered or
modified except by written instrument executed and delivered by the party against whom such
amendment, change, waiver, alteration or modification is to be enforced.

 

 

	 	 	 	 	 
	 	Very truly yours,

 	 
	 	By:  	 	 
	 	 	Title: 	 
	 	 	 	 
	 

Accepted and agreed as of the date hereof:

Ad.Venture Partners, Inc.

	 	 	 
	By:
	 	 
	 

	 	 
	Title:
	 	 

 

 

Schedule 1

SUPPLEMENTAL COMMON DEFINITIONS

     Unless the context shall otherwise require, the following terms shall have the following
respective meanings for all purposes, and the following definitions are equally applicable to both
the singular and the plural forms and the feminine, masculine and neuter forms of the terms
defined.

     “Business Combination” shall mean the acquisition by the Company, whether by merger, capital
stock exchange, asset acquisition or other similar type of combination, of one or more operating
businesses in the technology, media or telecommunications industries, having, collectively, a fair
market value (as calculated in accordance with the Company’s Amended and Restated Certificate of
Incorporation) of at least 80% of the Company’s net assets at the time of such merger, capital
stock exchange, asset acquisition or other similar type of combination.

     "Business Combination Date” shall mean the date upon which a Business Combination is
consummated.

     "Effective Date” shall mean the date upon which the Registration Statement is declared
effective under the Securities Act of 1933, as amended, by the SEC.Form of Director's Option Certificate

 

FORRESTER RESEARCH, INC.

1996 STOCK OPTION PLAN FOR NON-EMPLOYEE DIRECTORS

Option Certificate

Stock option granted by Forrester Research, Inc., a Delaware corporation (the “Company”),
to___[name of non-employee director], a director of the Company (the “Optionee”),
pursuant to the Company’s 1996 Stock Option Plan for Non-Employee Directors (the “Plan”).

Grant of Option

This certificate evidences the grant by the Company on ___, 200___(“Grant Date”) [following
each annual meeting of stockholders] to the Optionee of an option to purchase, in whole or in part,
on the terms provided herein and in the Plan, a total of 12,500 shares of common stock of the
Company (the “Shares”) at $      per Share [fair market value at date of grant]. The latest date
on which this option may be exercised (the “Final Exercise Date”) is ___, 20___[ten years from
date of grant].

The option evidenced by this certificate is a nonqualified stock option.

This option is exercisable in the following installments prior to the Final Exercise Date:

     3,125 Shares on and after the first anniversary of the Grant Date;

     3,125 Shares on and after the second anniversary of the Grant Date;

     3,125 Shares on and after the third anniversary of the Grant Date;

and

     An additional 3,125 Shares on and after the fourth anniversary of the Grant Date.

Exercise of Option

Each election to exercise this option shall be in writing, signed by the Optionee or by his/her
executor or administrator or by the person or persons to whom this option is transferred by will or
the applicable laws of descent and distribution (the “Legal Representative”), and received by the
Company at its principal office, accompanied by payment in full and by such additional
documentation evidencing the right to exercise (or, in the case of a Legal Representative, of the
authority of such person) as the Company may require. The purchase price may be paid in cash or by
check (acceptable to the Company in accordance with the guidelines established for this purpose),
bank draft, or money order payable to the order of the Company; or (b) by delivery of

 

 

an unconditional and irrevocable undertaking by a broker to deliver promptly to the Company
sufficient funds to pay the exercise price.

Restrictions on Transfer

If at the time this option is exercised the Company is a party to any agreement restricting the
transfer of any outstanding shares of its Common Stock, this option may be exercised only if the
Shares so acquired are made subject to the transfer restrictions set forth in that agreement (or if
more than one such agreement is then in effect, the agreement specified by the Committee).

Withholding

No Shares will be transferred pursuant to the exercise of this option unless and until, in the
opinion of the Company’s counsel, the person exercising this option shall have remitted to the
Company an amount sufficient to satisfy any federal, state, or local withholding tax requirements,
or shall have made other arrangements satisfactory to the Company with respect to such taxes.

Death; Status Change

(a) Except as the Committee shall otherwise provided, upon the death of the Optionee, all options
not then exercisable shall terminate. All options held by the director that are exercisable
immediately prior to death may be exercised by his or her Legal Representative, at any time within
one year after the director’s death but in no event beyond the Final Exercise Date. After
completion of that one-year period, such options shall terminate to the extent not previously
exercised or terminated.

(b) Except as the Committee shall otherwise provide, if a director’s service with the Company
terminates for any reason other than death, all options held by the director that are not then
exercisable shall terminate. Options that are exercisable on the date of termination shall
continue to be exercisable for a period of three months but in no event beyond the Final Exercise
Date. After completion of that three-month period, such options shall terminate to the extent not
previously exercised, expired or terminated.

Nontransferability of Option

Except as the Committee shall otherwise provide, this option is not transferable by the Optionee
other than by will or the laws of descent and distribution, and is exercisable during the
Optionee’s lifetime only by the Optionee.

 

 

Provisions of the Plan

This option is subject in its entirety to the provisions of the Plan, a copy of which is furnished
to the Optionee with this option. All initially capitalized terms not otherwise defined herein
shall have the meaning provided in the Plan.

IN WITNESS WHEREOF, the Company has caused this option to be executed under its corporate seal by
its duly authorized officer. This option shall take effect as a sealed instrument.

	 	 	 	 	 
	 	 	FORRESTER RESEARCH, INC.
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	[Authorized Officer]
	 
	 	 	 	 
	Dated: ___, 200_<PAGE>
                             AGREEMENT TO TERMINATE
                          REGISTRATION RIGHTS AGREEMENT

     This Agreement to Terminate Registration Rights Agreement (this
"Agreement"), dated as of August 5, 2005, by and between The Alfred I. DuPont
Testamentary Trust (the "Trust") and The St. Joe Company, a Florida corporation
(the "Company").

     1.   Introduction. The Trust and the Company have entered into a
Registration Rights Agreement, dated as of December 16, 1997, an Amendment No. 1
thereto, dated as of January 26, 1998, an Amendment No. 2 thereto, dated May 24,
2002, an Amendment No. 3 thereto, dated September 5, 2003, and an Amendment No.
4, dated as of December 30, 2003 (as amended, the "Registration Rights
Agreement"), which governs, among other things, certain terms and conditions of
the sale of Shares of the Company's Common Stock Beneficially Owned by the
Trust, from time to time, in registered public offerings. The Trust currently
owns less than five percent (5%) of the Company's outstanding Common Stock. As a
result, the Trust and the Company believe that it is in their best interests to
terminate the Registration Rights Agreement, as prescribed below.

     2.   Definitions. Capitalized terms used but not otherwise defined herein
shall have the respective meanings ascribed to them in the Registration Rights
Agreement.

     3.   Termination of Registration Rights Agreement. The Registration Rights
Agreement is hereby terminated effective August 5, 2005; provided, however, the
provisions contained in Section 2.7 of the Registration Rights Agreement shall
survive and remain in effect notwithstanding such termination.

     4.   Counterparts. This Agreement may be executed simultaneously in any
number of counterparts, each of which shall be deemed an original, but all of
such counterparts shall together constitute one and the same instrument.

                  [Remainder of page intentionally left blank]

<PAGE>

     IN WITNESS WHEREOF, the parties have caused this Agreement to be executed
and delivered by the respective officers thereunto duly authorized as of the
date first written above.

                                                     THE ALFRED I. DUPONT TESTA-
                                                     MENTARY TRUST

                                                     By: /s/ Winfred L. Thornton
                                                             Trustee

                                                     THE ST. JOE COMPANY

                                                     By: /s/ Peter S. Rummell
                                                             Peter S. Rummell
                                                             Chairman and CEO

                                       2

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