Document:

EX-4.3

 Exhibit 4.3 
  

 
  

UPLAND SOFTWARE, INC. 

AMENDED AND RESTATED VOTING AGREEMENT 

December 20, 2013 
  

 
  

 TABLE OF CONTENTS 

 

					
	 	 	Page	 
		
	 SECTION 1 VOTING
	 	 	2	  
		
	 1.1      General
	 	 	2	  
		
	 SECTION 2 ELECTION OF DIRECTORS
	 	 	2	  
		
	 2.1      Voting
	 	 	2	  
	 2.2      Designation of Directors
	 	 	2	  
	 2.3      Current Designees
	 	 	3	  
	 2.4      Vacancy; Removal
	 	 	3	  
	 2.5      Observer Rights
	 	 	4	  
	 2.6      No Liability for Election of Recommended Director
	 	 	5	  
		
	 SECTION 3 TERMINATION
	 	 	5	  
		
	 3.1      Termination
	 	 	5	  
		
	 SECTION 4 ADDITIONAL SHARES
	 	 	5	  
		
	 4.1      Additional Shares
	 	 	5	  
		
	 SECTION 5 RESTRICTIVE LEGEND
	 	 	6	  
		
	 5.1      Restrictive Legend
	 	 	6	  
		
	 SECTION 6 MISCELLANEOUS
	 	 	6	  
		
	 6.1      Certain Definitions
	 	 	6	  
	 6.2      Notices
	 	 	6	  
	 6.3      Successors and Assigns
	 	 	7	  
	 6.4      Governing Law
	 	 	7	  
	 6.5      Titles and Subtitles
	 	 	7	  
	 6.6      Further Assurances
	 	 	7	  
	 6.7      Entire Agreement
	 	 	7	  
	 6.8      No Grant of Proxy
	 	 	7	  
	 6.9      Not a Voting Trust
	 	 	7	  
	 6.10    Specific Performance
	 	 	8	  
	 6.11    Amendment
	 	 	8	  
	 6.12    No Waiver
	 	 	8	  
	 6.13    Severability
	 	 	8	  
	 6.14    Counterparts
	 	 	9	  
	 6.15    Aggregation of Stock
	 	 	9	  
	 6.16    Prior Agreement
	 	 	9	  

 UPLAND SOFTWARE, INC. 

AMENDED AND RESTATED VOTING AGREEMENT 

This Amended and Restated Voting Agreement (this “Agreement”) is made as of December 20, 2013 by and among Upland
Software, Inc. (f/k/a Silverback Enterprise Group, Inc.), a Delaware corporation (the “Company”), the persons and entities listed on Exhibit A (each an “Investor,” and collectively the
“Investors”), and the persons listed on Exhibit B (each a “Founder,” and collectively the “Founders”). The Founders and the Investors are referred to herein collectively as
the “Voting Parties.” 
 RECITALS 

This Agreement amends and restates in its entirety the Amended and Restated Voting Agreement dated November 7, 2013 (the
“Prior Agreement”) among the Company, the Founders and certain of the Investors (the “Prior Investors”). 

The Company proposes to sell shares of its Series C Preferred Stock (“Series C Preferred Stock” and together
with the Company’s Series A Preferred, Series B Preferred Stock, Series B-1 Preferred Stock and Series B-2 Preferred Stock, “Preferred Stock”) to certain of the Investors (the “Purchasers”)
pursuant to the Series C Preferred Stock Purchase Agreement of even date herewith (as may be amended from time to time, the “Purchase Agreement”). 

Pursuant to Section 6.11 of the Prior Agreement, the Prior Agreement may be amended, waived, discharged or terminated by the written
agreement of (i) the Company, (ii) Founders holding a majority of the common stock (determined on an as-converted basis) held by all Founders and (iii) Prior Investors holding a majority of the common stock (determined on an
as-converted basis) held by all Prior Investors (together with the Founders in clause (ii) above, the “Requisite Stockholders”). 

The undersigned Founders and Investors constitute the Requisite Stockholders, and such Requisite Stockholders desire to amend and restate the
Prior Agreement as set forth below so that the rights and obligations with respect to the subject matter herein of the Company, the Investors and the Founders shall, upon the effectiveness of this Agreement, be consolidated and restated herein. 

The execution and delivery of this Agreement by the Company, the Purchasers and the Requisite Stockholders is a condition to the closing of
the issuance, sale and purchase of the Series C Preferred Stock pursuant to the Purchase Agreement. 
 The Company’s Amended and
Restated Certificate of Incorporation (the “Restated Certificate”) provides that the holders of the Company’s Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock, voting together as a single
class, shall be entitled to elect one director (the “Preferred Director”) and the holders of the Company’s common stock shall be entitled to elect one director (the “Common Director”) and, subject
to the occurrence of certain events, the holders of Series C Preferred Stock shall be entitled to elect one director (the “Series C Preferred Director”), and any additional directors shall be elected by the mutual agreement
of the other directors (the “Additional Directors”). 
 The parties therefore agree as follows: 

 SECTION 1 
  

VOTING 
 1.1
General. During the term of this Agreement, the Voting Parties each agree to vote all shares of the Company’s voting securities now or hereafter owned by them, whether beneficially or otherwise, or as to which they have voting power
(the “Shares”) in accordance with the provisions of this Agreement. 
 SECTION 2 

ELECTION OF DIRECTORS 

2.1 Voting. During the term of this Agreement, each Voting Party agrees to vote all Shares in such manner as may be necessary to
(i) ensure that the size of the Company’s board of directors shall be set and remain at three (3) directors, and (ii) elect (and maintain in office) as members of the Company’s board of directors the following individuals,
subject to Section 2.2: 
 (a) One Existing Preferred Designee (as defined below) as the “Existing Preferred
Director”; 
 (b) One Common Designee (as defined below) as the Common Director; 

(c) Upon the occurrence of a Series C Director Triggering Event (as defined below), one Series C Preferred Designee (as defined below) as the
Series C Preferred Director; and 
 (d) Prior to a Series C Director Triggering Event, one Mutual Designee (as defined below) as the
“Mutual Director.” 
 2.2 Designation of Directors. The designees to the Company’s board of
directors described above (each a “Designee”) shall be selected as follows: 
 (a) The “Existing Preferred
Designee” shall be chosen by Austin Ventures IX, or its affiliates (“Austin Ventures”), so long as Austin Ventures holds at least 5,750,000 shares of Preferred Stock (or Common Stock of the Company issued upon
conversion of such shares of Preferred Stock) (the “AV Requisite Threshold”). 
 (b) The “Common
Designee” shall be chosen by Founders holding a majority of the common stock (determined on an as-converted basis) held by all Founders; provided, however, that the Common Designee shall be the Company’s Chief Executive
Officer. Such approval shall take the form of a notice signed by Founders holding the requisite voting interest; provided, however, that if no such notice has been delivered to the Secretary of the Company within ten days prior to any regular
or special meeting of stockholders or five days after receiving an Action by Written Consent, the Secretary of the Company shall deliver a ballot to each Founder. Such ballot shall contain the nominee or nominees of any Founder, the names of which
were delivered to the Secretary prior to the mailing of the ballot, and shall contain instructions that each Founder is to complete and return such ballot to the Secretary of the Company within five days of the effective date of such notice. 

(c) The “Series C Preferred Designee” shall only be chosen by the holders of Series C Preferred Stock, voting as a
separate class, following the earlier to occur of (x) immediately prior to the initial filing under the Securities Act of a registration statement contemplating the offer and sale of the Company’s Common Stock, (y) immediately prior
to the Company becoming a publicly traded corporation, whether by a reverse triangular merger or otherwise, or (z) the first anniversary of the initial sale of shares of Series C Preferred Stock (“Series C Director Triggering
Event”). Notwithstanding the foregoing, if Activant Capital Group or its affiliates (“Activant”) purchases at least $4,000,000 of the Series C Preferred Stock (excluding the conversion of any indebtedness) and
continue to hold at least 975,610 shares of Series C Preferred Stock (or common stock of the Company issued upon conversion of such shares of Series C Preferred Stock) (the “Activant Requisite Threshold”), the Series C
Preferred Designee shall be chosen by Activant. 

  
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 (d) The “Mutual Designee” shall be approved by the Existing Preferred
Director and the Common Director. 
 2.3 Current Designees. For the purpose of this Agreement, the directors of the
Company shall be deemed to include the following Designees: 
 (a) The Existing Preferred Designee shall initially be John Thornton. 

(b) The Common Designee shall initially be John T. McDonald. 

(c) The Series C Preferred Designee shall initially be vacant. 

(d) The Mutual Designee shall initially be Steve Sarracino. 

2.4 Vacancy; Removal. In the case of a vacancy in the office of a director elected pursuant to Section 2.1, any such
vacancy shall be filled as set forth in this Section 2.4. Further, any Designee may be removed during his or her term of office, with or without cause, as set forth in this Section 2.4. 

(a) Existing Preferred Director. In the case of a vacancy of a director elected pursuant to Section 2.1(a), so long as Austin
Ventures holds the AV Requisite Threshold, Austin Ventures shall choose a successor to the Existing Preferred Designee, and each Voting Party shall vote all Shares held by such Voting Party to elect the new Existing Preferred Designee pursuant to
Section 2.1(a). So long as Austin Ventures holds the AV Requisite Threshold, any director who shall have been elected pursuant to Section 2.1(a) may be removed during such director’s term of office, whether with or without cause, only
upon written direction by Austin Ventures to the Voting Parties to remove such director, following which each Voting Party agrees to vote all Shares then held by such Voting Party in favor of such removal. In the event Austin Ventures no longer
holds the AV Requisite Threshold, the holders of a majority of the Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock then outstanding, voting together as a single class, may elect to remove the Existing Preferred
Director from office, whether with or without cause, by written direction to the Voting Parties, following which each Voting Party agrees to vote all Shares then held by such Voting Party in favor of such removal. In the event Austin Ventures no
longer holds the AV Requisite Threshold and there is a vacancy in the office of a director elected pursuant to Section 2.1(a), the holders of a majority of the Series A Preferred Stock, Series B Preferred Stock and Series C Preferred Stock then
outstanding, voting together as a single class, may choose a new Existing Preferred Designee, and each Voting Party shall vote all Shares held by such Voting Party to elect the new Existing Preferred Designee pursuant to Section 2.1(a). 

(b) Common Director. 
 (i)
In the event that the Common Director is no longer the Company’s Chief Executive Officer, a majority of the other members of the board of directors, excluding the Common Director, may demand that the Common Director resign from the board of
directors (a “Demand Resignation”). In the event the Common Director does not resign within five (5) days of a Resignation Demand, the Voting Parties shall immediately call a meeting or act by written consent and shall
vote all Shares then held by them in favor of the immediate removal of the Common Director from the board of directors, which removal shall occur no later than fifteen (15) days after such Resignation Demand. 

  
 -3- 

 (ii) Subject to Section 2.2(b), in the event of the resignation, death, removal or
disqualification of the Common Director, each Voting Party shall vote all Shares then held by it in favor of the then-current Chief Executive Officer to be the new Common Director. 

(c) Series C Preferred Director. In the case of a vacancy of a director elected pursuant to Section 2.1(c) following a Series C
Director Triggering Event, and so long as Activant holds the Activant Requisite Threshold, Activant shall choose a successor to the Series C Preferred Designee, and each Voting Party shall vote all Shares held by such Voting Party to elect the new
Series C Preferred Designee pursuant to Section 2.1(c). Following a Series C Director Triggering Event, so long as Activant holds the Activant Requisite Threshold, any director who shall have been elected pursuant to Section 2.1(c) may be
removed during such director’s term of office, whether with or without cause, only upon written direction by Activant to the Voting Parties to remove such director, following which each Voting Party agrees to vote all Shares then held by such
Voting Party in favor of such removal. In the event Activant no longer holds the Activant Requisite Threshold after a Series C Director Triggering Event, the holders of a majority of the Series C Preferred Stock then outstanding, voting together as
a single class, may elect to remove the Series C Preferred Director from office, whether with or without cause, by written direction to the Voting Parties, following which each Voting Party agrees to vote all Shares then held by such Voting Party in
favor of such removal. In the event Activant no longer holds the Activant Requisite Threshold after a Series C Director Triggering Event and there is a vacancy in the office of a director elected pursuant to Section 2.1(c), the holders of a
majority of the Series C Preferred Stock then outstanding, voting together as a single class, may choose a new Series C Preferred Designee, and each Voting Party shall vote all Shares held by such Voting Party to elect the new Series C Preferred
Designee pursuant to Section 2.1(c). 
 (d) Mutual Director. Any vacancy in the seat reserved for the Mutual Director, and any
removal of the Mutual Director, shall be governed by Article V Section 5(c) of the Restated Certificate. 
 2.5 Observer
Rights. Activant shall be allowed to appoint a designee (the “Observer”) to act as a non-voting observer at meetings of the Company’s board of directors and any committees thereof; provided,
however, if a Series C Director Triggering Event has occurred, or Steve Sarracino is serving as a member of the Company’s board of directors, then any designee and such designee’s participation in any meeting of the Company’s
board of directors and any committees thereof, in each case, shall be subject to the prior approval of the Common Designee (which approval shall not be unreasonably withheld, conditined or delayed). The Company will provide the Observer notice of
all meetings of the Company’s board of directors and board committees at the time notice is given to the directors and will provide copies of any written material distributed to the directors; provided that the Company reserves the right to
exclude the Observer from access to any of such materials or meetings or portions thereof if (a) the Company believes upon advice of counsel that such exclusion is reasonably necessary to preserve the attorney-client privilege, (b) the
Company believes that such exclusion is reasonably necessary to protect the Company’s trade secrets, (c) the Observer or one of its affiliates has a direct interest in the subject matter that is adverse to that of the Company, or
(d) if a Series C Director Triggering Event has occurred, or Steve Sarracino is serving as a member of the Company’s board of directors, such participation or access has not been approved in advance by the Common Designee (which approval
shall not be unreasonably withheld, conditined or delayed). The Company will provide the Observer with copies of any minutes of the meetings of the Board, its committees or sub-committees at the same time such minutes are made available to the Board
or the committee or sub-committee members; provided, however, the Company shall not be obligated to provide such minutes to the extent that it is necessary (i) upon the advice of counsel, to protect the attorney-client privilege between the
Company and its counsel; (ii) in order to discharge the fiduciary duties of the Company’s board of directors (or any committees or sub-committees thereof); (iii) to protect the Company’s trade secrets; (iv) and in the best
interests of the Company, where the Observer or one of its affiliates has a direct interest in the subject matter that is adverse to that of the Company; or (v) if the Observor is excluded from such meeting pursuant to item (d) above.
Activant agrees, and any representative of Activant will agree, that all information provided to it or learned by it in connection with its rights under this Section 2.5 shall be held in confidence and trust and shall not disclose any such
confidential information; provided, however, it being understood and agreed that notwithstanding the foregoing, the Observer shall be permitted to disclose such information to Activant and their respective employees on an as-needed basis solely for
the purpose of managing Activant’s investment in the Company. 

  
 -4- 

 2.6 No Liability for Election of Recommended Director. None of the parties and
no officer, director, stockholder, partner, employee or agent of any party makes any representation or warranty as to the fitness or competence of the nominee of any party hereunder to serve on the board of directors by virtue of such party’s
execution of this Agreement or by the act of such party in voting for such nominee pursuant to this Agreement. 
 SECTION 3 

TERMINATION 
 3.1
Termination. This Agreement shall terminate upon the earlier of (i) the conversion of all outstanding shares of the Company’s Preferred Stock into common stock; (ii) a Change of Control Transaction; or (iii) the
agreement of a majority-in-interest of the Founders and a majority-in-interest of the Investors, acting separately. “Change of Control Transaction” means either (a) the acquisition of the Company by another entity by
means of any transaction or series of related transactions to which the Company is party (including, without limitation, any stock acquisition, reorganization, merger or consolidation but excluding any sale of stock for capital raising purposes)
that results in the voting securities of the Company outstanding immediately prior thereto failing to represent immediately after such transaction or series of transactions (either by remaining outstanding or by being converted into voting
securities of the surviving entity or the entity that controls such surviving entity) a majority of the total voting power represented by the outstanding voting securities of the Company, such surviving entity or the entity that controls such
surviving entity; or (b) a sale, lease or other disposition of all or substantially all of the assets of the Company and its subsidiaries taken as a whole by means of any transaction or series of related transactions, except where such sale,
lease or other disposition is to a wholly-owned subsidiary of the Company. 
 SECTION 4 

ADDITIONAL SHARES 
 4.1
Additional Shares. In the event that subsequent to the date of this Agreement any shares or other securities (other than pursuant to a Change of Control Transaction) are issued on, or in exchange for, any of the Shares by reason of
any stock dividend, stock split, consolidation of shares, reclassification or consolidation involving the Company, such shares or securities shall be deemed to be Shares for purposes of this Agreement. 

  
 -5- 

 SECTION 5 

RESTRICTIVE LEGEND 

5.1 Restrictive Legend. Each certificate representing any of the Shares subject to this Agreement shall be marked by the
Company with a legend reading substantially as follows: 
 THE SHARES EVIDENCED HEREBY ARE SUBJECT TO A VOTING AGREEMENT (A COPY OF WHICH MAY
BE OBTAINED FROM THE ISSUER), AND BY ACCEPTING ANY INTEREST IN SUCH SHARES THE PERSON HOLDING SUCH INTEREST SHALL BE DEEMED TO AGREE TO AND SHALL BECOME BOUND BY ALL THE PROVISIONS OF SAID VOTING AGREEMENT. 

SECTION 6 

MISCELLANEOUS 
 6.1
Certain Definitions. Shares “held” by a Voting Party shall mean any Shares directly or indirectly owned (of record or beneficially) by such Voting Party or as to which such Voting Party has voting power.
“Vote” shall include any exercise of voting rights whether at an annual or special meeting or by written consent or in any other manner permitted by applicable law. A “majority-in-interest” of either
the Founders or the Investors shall mean the holders of a majority of the common stock (determined on an as-converted basis) then held by such group. 

6.2 Notices. All notices and other communications required or permitted hereunder shall be in writing and shall be mailed
by registered or certified mail, postage prepaid, sent by facsimile or electronic mail (if to a Voting Party) or otherwise delivered by hand, messenger or courier service addressed: 

(a) if to a Voting Party, to the Voting Party’s address, facsimile number or electronic mail address as shown in the exhibits to this
Agreement or in the Company’s records, as may be updated in accordance with the provisions hereof, or, until any such Voting Party so furnishes an address, facsimile number or electronic mail address to the Company, then to the address,
facsimile number or electronic mail address of the last holder of the relevant Shares for which the Company has contact information in its records; or 

(b) if to the Company, to the attention of the Chief Executive Officer or Chief Financial Officer of the Company at 401 Congress Ave., Suite
2950, Austin, Texas 78701, or at such other current address as the Company shall have furnished to the Voting Parties, with a copy (which shall not constitute notice) to Brian K. Beard, Wilson Sonsini Goodrich & Rosati, P.C. 900 South
Capital of Texas Highway, Las Cimas IV, Fifth Floor, Austin, Texas 78746-5546. 
 Each such notice or other communication shall for all
purposes of this Agreement be treated as effective or having been given (i) if delivered by hand, messenger or courier service, when delivered (or if sent via a nationally-recognized overnight courier service, freight prepaid, specifying
next-business-day delivery, one business day after deposit with the courier), or (ii) if sent via mail, at the earlier of its receipt or five days after the same has been deposited in a regularly-maintained receptacle for the deposit of the
United States mail, addressed and mailed as aforesaid, or (iii) if sent via facsimile, upon confirmation of facsimile transfer or, if sent via electronic mail, upon confirmation of delivery when directed to the relevant electronic mail address,
if sent during normal business hours of the recipient, or if not sent during normal business hours of the recipient, then on the recipient’s next business day. In the event of any conflict between the Company’s books and records and this
Agreement or any notice delivered hereunder, the Company’s books and records will control absent fraud or error. 

  
 -6- 

 Subject to the limitations set forth in Delaware General Corporation Law §232(e), each
Voting Party consents to the delivery of any notice to stockholders given by the Company under the Delaware General Corporation Law or the Company’s certificate of incorporation or bylaws by (i) facsimile telecommunication to the facsimile
number set forth in the exhibits to this Agreement (or to any other facsimile number for the Voting Party in the Company’s records), (ii) electronic mail to the electronic mail address set forth in the exhibits to this Agreement (or to any
other electronic mail address for the Voting Party in the Company’s records if provided by such Voting Party), (iii) posting on an electronic network together with separate notice, in accordance with subsection (i) or (ii), to the
Voting Party of such specific posting or (iv) any other form of electronic transmission (as defined in the Delaware General Corporation Law) directed to the Voting Party. This consent may be revoked by a Voting Party by written notice to the
Company and may be deemed revoked in the circumstances specified in Delaware General Corporation Law §232. 
 6.3 Successors and
Assigns. The provisions of this Agreement shall inure to the benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties. The Company shall not permit the transfer of any Shares on its
books or issue a new certificate representing any Shares unless and until the person to whom such security is to be transferred shall have executed a written agreement pursuant to which such person becomes a party to this Agreement and agrees to be
bound by all the provisions hereof as if such person was a Voting Party hereunder. 
 6.4 Governing Law. This Agreement
shall be governed in all respects by the internal laws of the State of Delaware as applied to agreements entered into among Delaware residents to be performed entirely within Delaware, without regard to principles of conflicts of law. 

6.5 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be
considered in construing or interpreting this Agreement. All references in this Agreement to sections, paragraphs and exhibits shall, unless otherwise provided, refer to sections and paragraphs hereof and exhibits attached hereto. 

6.6 Further Assurances. Each party agrees to execute and deliver, by the proper exercise of its corporate, limited
liability company, partnership or other powers, all such other and additional instruments and documents and do all such other acts and things as may be necessary to more fully effectuate this Agreement. 

6.7 Entire Agreement. This Agreement and the exhibits hereto constitute the full and entire understanding and agreement
between the parties with regard to the subjects hereof. No party shall be liable or bound to any other party in any manner with regard to the subjects hereof or thereof by any warranties, representations or covenants except as specifically set forth
herein. 
 6.8 No Grant of Proxy. This Agreement does not grant any proxy and should not be interpreted as doing so.
Nevertheless, should the provisions of this Agreement be construed to constitute the granting of proxies, such proxies shall be deemed coupled with an interest and are irrevocable for the term of this Agreement. 

6.9 Not a Voting Trust. This Agreement is not a voting trust governed by Section 218 of the Delaware General
Corporation Law and should not be interpreted as such. 

  
 -7- 

 6.10 Specific Performance. It is agreed and understood that monetary damages
would not adequately compensate an injured party for the breach of this Agreement by any party, that this Agreement shall be specifically enforceable, and that any breach or threatened breach of this Agreement shall be the proper subject of a
temporary or permanent injunction or restraining order. Further, each party waives any claim or defense that there is an adequate remedy at law for such breach or threatened breach. 

6.11 Amendment. Except as expressly provided herein, neither this Agreement nor any term hereof may be amended, waived,
discharged or terminated other than by a written instrument referencing this Agreement and signed by (i) the Company, (ii) Founders holding a majority of the common stock (determined on an as-converted basis) held by all Founders and
(iii) Investors holding a majority of the common stock (determined on an as-converted basis) held by all Investors. Notwithstanding the foregoing: 

(a) This Agreement may not be amended or terminated and the observance of any term of this Agreement may not be waived with respect to any
Investor or Founder without the written consent of such Investor or Founder unless such amendment, termination, or waiver applies to all Investors or Founders, as the case may be, in the same fashion. 

(b) Exhibit A hereto may be amended from time to time with no further action on the part of the parties hereto to add subsequent holders of
Shares or transferees or assignees permitted herein (each a “New Party”), provided that such New Party shall have executed and delivered an Adoption Agreement substantially in the form attached hereto as Schedule 1. Upon the
execution and delivery of an Adoption Agreement by a New Party, such New Party shall be deemed to be a party hereto as if such New Party’s signature appeared on the signature pages hereto. 

(c) Section 2.1(c) of this Agreement shall not be amended or waived without the written consent of the holders of a majority of the then
outstanding Series C Preferred Stock. Section 2.2(c) or Section 2.4(c) of this Agreement shall not be amended or waived without the written consent of (i) the holders of a majority of the then outstanding Series C Preferred Stock, and
(ii) Activant, so long as Activant Requisite Threshold is satisfied. Section 2.5 of this Agreement shall not be amended or waived without the written consent of Activant. 

The Company shall give prompt written notice of any amendment, termination, or waiver hereunder to any party that did not consent in writing
thereto. Any such amendment, waiver, discharge or termination effected in accordance with this paragraph shall be binding upon each Voting Party that has entered into this voting agreement. Each Voting Party acknowledges that, except as otherwise
set forth herein, by the operation of this paragraph, the holders of a majority of the common stock (determined on an as-converted basis) held by all Founders and the holders of a majority of the common stock (determined on an as-converted basis)
held by all Investors will have the right and power to diminish or eliminate all rights of such Voting Party under this Agreement. 

6.12 No Waiver. The failure or delay by a party to enforce any provision of this Agreement will not in any way be construed
as a waiver of any such provision or prevent that party from thereafter enforcing any other provision of this Agreement. The rights granted both parties hereunder are cumulative and will not constitute a waiver of either party’s right to assert
any other legal remedy available to it. 
 6.13 Severability. If any provision of this Agreement becomes or is declared
by a court of competent jurisdiction to be illegal, unenforceable or void, portions of such provision, or such provision in its entirety, to the extent necessary, shall be severed from this Agreement, and such court will replace such illegal, void
or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the extent possible, the same economic, business and other purposes of the illegal, void or unenforceable provision. The balance of this
Agreement shall be enforceable in accordance with its terms. 

  
 -8- 

 6.14 Counterparts. This Agreement may be executed in one or more counterparts,
each of which will be deemed an original, but all of which together will constitute one and the same agreement. Facsimile copies of signed signature pages will be deemed binding originals. 

6.15 Aggregation of Stock. All securities held or acquired by affiliated entities (including affiliated venture capital
funds) or persons to the Voting Parties shall be aggregated together for purposes of determining the availability of any rights under this Agreement. 

6.16 Prior Agreement. Effective upon execution of this Agreement by the Company and the other parties hereto, the parties
hereto completely and irrevocably waive any and all application of the Prior Agreement and acknowledge that the Prior Agreement is hereby amended and restated to read in its entirety as set forth in this Agreement. 

(Signature pages to follow.) 

  
 -9- 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	UPLAND SOFTWARE, INC.
	a Delaware corporation
		
	By:	 	 /s/ JOHN T. MCDONALD

		 	John T. McDonald,
		 	Chief Executive Officer

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	MLPF&S AS CUST. FBO JOHN MCDONALD IRRA
		
	By:	 	 /s/ JOHN T. MCDONALD

	Name:	 	John T. McDonald
	Title:	 	Authorized Signatory

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ JOHN T. MCDONALD

	John T. McDonald

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	ACTIVANT INVESTMENT II, LLC
		
	By:	 	 /s/ STEVE SARRACINO

	Name:	 	Steve Sarracino
	Title:	 	Manager

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	ACTIVANT HOLDINGS I, LP
	
	By: Activant Capital Group, LLC
	Its: General Partner
		
	By:	 	 /s/ STEVE SARRACINO

	Name:	 	Steve Sarracino
	Title:	 	Manager

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	ACTIVANT HOLDINGS II, LP
	
	By: Activant Capital Group, LLC
	Its: General Partner
		
	By:	 	 /s/ STEVE SARRACINO

	Name:	 	Steve Sarracino
	Title:	 	Manager

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	ALTITUDE INVESTMENTS FUND I, L.P.
	
	By: Altitude Investments LLC
	Its: General Partner
		
	By:	 	 /s/ BRAD SEIDEL

	Name:	 	Brad Seidel
	Title:	 	President

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	AUSTIN VENTURES IX, L.P.
	
	By: AV Partners IX, L.P., its General Partner
	By: AV Partners IX, LLC, its General Partner
		
	By:	 	 /s/ JOHN THORNTON

	Name:	 	John Thornton
	Title:	 	Member

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	AUSTIN VENTURES X, L.P.
	
	By: AV Partners X, L.P., its General Partner
	By: AV Partners X, LLC, its General Partner
		
	By:	 	 /s/ JOHN THORNTON

	Name:	 	John Thornton
	Title:	 	Member

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ CLAYTON CHRISTOPHER

	Clayton Christopher

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	COVENANT PE I, L.P.
	
	By: Atlas Capital Management, L.P.
	Its: General partner
	
	By: RHA, Inc.
	Its: General partner
		
	By:	 	 /s/ ROBERT H. ALPERT

	Name:	 	Robert H. Alpert
	Title:	 	President

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	COZMO INVESTMENTS, LTD.
	
	By: High 4 Family, LLC
	Its: General partner
		
	By:	 	 /s/ WALTER C. REYNOLDS

	Name:	 	Walter C. Reynolds
	Title:	 	Manager

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	ESW CAPITAL LLC
		
	By:	 	 /s/ ANDREW S. PRICE

	Name:	 	Andrew S. Price
	Title:	 	CFO

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	GLOBAL UNDERVALUED SECURITIES MASTER FUND, L.P.
		
	By:	 	 /s/ JAMES K. PHILLIPS

	Name:	 	James K. Phillips
	Title:	 	Chief Financial Officer

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ ROBERT HERSCH

	Robert Hersch

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ JERALD PETERSON

	Jerald Peterson

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ JOSEPH P. PETERSON

	Joseph P. Peterson

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ JOE ROSS

	Joe Ross

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ KEVIN SINGERMAN

	Kevin Singerman

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	MARGUERITE C. KLEINHEINZ TRUST
		
	By:	 	 /s/ JOHN B. KLEINHEINZ

		 	John B. Kleinheinz,
		 	Trustee

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	JOHN BURKE KLEINHEINZ JR. TRUST
		
	By:	 	 /s/ JOHN B. KLEINHEINZ

		 	John B. Kleinheinz,
		 	Trustee

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	WILLIAM HARRISON KLEINHEINZ TRUST
		
	By:	 	 /s/ JOHN B. KLEINHEINZ

		 	John B. Kleinheinz,
		 	Trustee

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ LEO PETERSON

	Leo Peterson

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ MARK SINGERMAN

	Mark Singerman

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ JAMES PALLOTTA

	James Pallotta

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ BYRON DAVID PEARSON

	Byron David Pearson

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	RARA4 INVESTMENTS, LTD.
	
	By: Tame Coyote Management, LLC
	Its: General partner
		
	By:	 	 /s/ DONALD C. REYNOLDS

	Name:	 	Donald C. Reynolds
	Title:	 	Manager

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	THE MICHAEL M REYNOLDS TESTAMENTARY TRUST
		
	By:	 	 /s/ MIKE REYNOLDS

	Name:	 	Mike Reynolds
	Title:	 	Trustee

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

			
	INVESTOR
	
	RICHARD H. HEIN TRUST DATED JUNE 12, 1995
		
	By:	 	 /s/ RICHARD H. HEIN

	Name:	 	Richard H. Hein
	Title:	 	Trustee

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ GEORGE WOODIWISS

	George Woodiwiss

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	INVESTOR
	
	 /s/ TIMOTHY MAY

	Timothy May

  

(Signature page to the Amended and Restated Voting Agreement) 

 The parties are signing this Amended and Restated Voting Agreement as of the date stated in the
introductory clause. 
  

	
	FOUNDER
	
	 /s/ JOHN T. MCDONALD

	John T. McDonald

  

(Signature page to the Amended and Restated Voting Agreement) 

 Exhibit A - INVESTORS 

 

					
	 Austin Ventures X, L.P.

[***]
	  	 SHV Partners III, LLC

[***]
	  	
			
	 Austin Ventures IX, L.P.

[***]
	  	 ESW Capital LLC
 [***]
	  	 RARA4 Investments, Ltd.

[***]

			
	 Activant Investment II, LLC

[***]
	  	 Activant Holdings I, LP

[***]
	  	 Activant Holdings II, LP

[***]

			
	 Joe Ross
 [***]
	  	 Clayton Christopher

[***]
	  	 Cozmo Investments, Ltd.

[***]

			
	 John T. McDonald
 [***]
	  	 Michael Beaudoin
 [***]
	  	 Jerald Lawrence Peterson

[***]

			
	 Covenant PE I, L.P.

[***]
	  	 James Pallotta
 [***]
	  	 Joseph P. Peterson

[***]

			
	 WS Investment Company, LLC (2010A)

[***]
	  	 John and Tamra Gorman

[***]
	  	 Tamra I. Gorman Exempt Trust/Tamra I. Gorman, Trustee

[***]

			
	 Rodney Rice
 [***]
	  	 Richard H. Hein Trust dated June 12, 1995

[***]
	  	 Richard Schottenfeld

[***]

			
	 Marguerite C. Kleinheinz Trust

[***]
	  	 John Burke Kleinheinz Jr. Trust

[***]
	  	 William Harrison Kleinheinz Trust

[***]

			
	 MLPF&S as Cust. FBO John McDonald IRRA

[***]
	  	 Joseph Larscheid
 [***]
	  	 Cheryl Larscheid

[***]

			
	 Rex and Vicki Lamb
 [***]
	  	 Mark Creglow
 [***]
	  	 Dan Yount
 [***]

			
	 Sean Nathaniel
 [***]
	  	 Altitude Investments Fund I, L.P.

[***]
	  	 Global Undervalued Securities Master Fund, L.P.

[***]

			
	 Alan Maltz
 [***]
	  	 Timothy May
 [***]
	  	 Byron David Pearson

[***]

			
	 The Michael M Reynolds Testamentary Trust

[***]
	  	 George Woodiwiss
 [***]
	  	 Robert Hersch
 [***]

			
	 Kevin Singerman
 [***]
	  	 Mark Singerman
 [***]
	  	 Leo Peterson
 [***]

			
	 Maltz Enterprises L.P.

[***]
	  	 Estrella Solamente, LLC

[***]
	  	 Lindy Smith
 [***]

			
	 Cindy Willingham
 [***]
	  		  	

 Exhibit B—FOUNDERS 

John T. McDonald 
 [***] 

Christopher Ney 
 [***]EX-4.4

 Exhibit 4.4 

SILVERBACK ENTERPRISE GROUP, INC. 

RESTRICTED STOCK AGREEMENT 

THIS RESTRICTED STOCK AGREEMENT (this “Agreement”), dated as of November 14, 2012, is entered into by and between
Silverback Enterprise Group, Inc., a Delaware corporation (“Company”), Joseph Larscheid, an individual, and Cheryl Larscheid, an individual (each a “Stockholder” and together, the “Stockholders” and
together with the Company, collectively the “Parties” and each, individually, a “Party”). 
 RECITALS

 WHEREAS, concurrently with the execution of this Agreement, Company, LMR Solutions LLC d/b/a EPM Live, a Delaware limited liability
company, and the Stockholders, are entering into a Membership Interest Purchase Agreement (the “Purchase Agreement”). Capitalized terms that are used herein but not defined shall have the meanings ascribed to them in the Purchase
Agreement. 
 WHEREAS, a portion of the consideration payable to the Stockholders in connection with the Membership Interest Purchase is in
the form of 800,000 shares of the Company’s Series B-1 Preferred Stock, which shall be issued and delivered pursuant to the Purchase Agreement and be subject to the terms and conditions contained herein. 

WHEREAS, as a material inducement for the Company to enter into the Purchase Agreement and consummate the Membership Interest Purchase,
(i) Joseph Larscheid (the “Executive”) has agreed to become an employee of the Company (or a Subsidiary of the Company) as of the Closing Date pursuant to an executive employment agreement dated on or about the closing date
(the “Executive Agreement”) and (ii) the Stockholders have agreed to enter into this Agreement and agree to the terms set forth herein, including the Forfeiture Obligations (as defined herein) and transfer restrictions. 

AGREEMENT 
 NOW THEREFORE,
for valuable consideration, the receipt whereof is hereby acknowledged, the Parties, intending to be legally bound, hereby agree as follows: 
  

	 	1.	Certain Definitions. 

 “Cause” shall mean
(i) the Executive’s failure to substantially perform the duties and obligations under the Executive Agreement (for reasons other than death or Disability), which shall not be materially different than the duties and obligations of the
Executive as of immediately prior to the Closing as defined in the Purchase Agreement, and which failure, if curable within the discretion of the Company, is not cured to the reasonable satisfaction of the Company within thirty (30) days after
receipt of written notice from the Company of such failure; (ii) Executive’s failure or refusal to comply with reasonable written policies, standards and regulations established by the Company from time to time, which failure, if curable
in the discretion of the Company, is not cured to the reasonable satisfaction of the Company within thirty (30) days after receipt of written notice of such failure from the Company; (iii) any act of personal dishonesty, fraud,
embezzlement, misrepresentation, or other unlawful act committed by the Executive; (iv) the Executive’s violation of a federal or state law or regulation applicable to the Company’s business; (v) the Executive’s violation
of, or a plea of nolo contendere or guilty to, a felony under the laws of the United States or any state; or (vi) the Executive’s breach of the terms of the Executive Agreement or the Employee Proprietary Information Agreement
between the Company and the Executive dated on or about the date hereof. 

 “Disability” shall mean that Executive, at the time notice is given, has been
unable to substantially perform Executive’s duties under the Executive Agreement for not less than one-hundred and twenty (120) work days within a twelve (12) consecutive month period as a result of Executive’s incapacity due to
a physical or mental condition and, if reasonable accommodation is required by law, after any reasonable accommodation. 
 “Good
Reason” shall mean the occurrence of one or more of the following, without Executive’s express written consent: (i) Executive’s relocation to a facility or a location more than fifty (50) miles from Executive’s then
current location; or (ii) a material reduction in Executive’s Base Salary (except where there is a reduction applicable to the executive team generally). 

“Forfeiture Obligations” shall mean the requirement that the Purchaser Shares be forfeited and promptly surrendered to the
Company for no additional consideration (i) upon a termination of employment by the Company for Cause or (ii) a resignation by Executive without Good Reason or without fulfilling the requirements for resigning with Good Reason as required
in the Executive Agreement. 
 “Securities Act” shall mean the U.S. Securities Act of 1933, as amended. 

2. Forfeiture Obligation. The Parties acknowledge and agree that as consideration for the Membership Interest Purchase, the Company
agrees to issue and deliver 800,000 shares of the Company’s Series B-1 Preferred Stock to the Stockholders (the “Purchaser Shares”), subject to the terms of and subject to the satisfaction of the terms of the Purchase
Agreement, the Executive Agreement and this Agreement, including without limitation the Forfeiture Obligations and other transfer restrictions applicable thereto. 

(a) Subject to Section 2(b) and 2(c), the Purchaser Shares shall be released from the Forfeiture Obligations on the date that is
twenty-four (24) months following the Closing Date. 
 (b) Notwithstanding anything to the contrary herein, in the event of
Executive’s death, Disability, termination of Executive’s employment by the Company or its Subsidiary employing Executive without Cause or resignation by Executive for Good Reason pursuant to the requirements for resigning for Good Reason
set forth in the Executive Agreement, all Purchaser Shares shall be released from the Forfeiture Obligations; provided, however, that any such Purchaser Shares shall remain subject to any applicable securities laws or other restrictions to which the
Stockholders are subject under this Agreement or the Company’s applicable written policies. 
 (c) Immediately upon Executive’s
termination for Cause by the Company or its Subsidary employing Executive or Executive’s resignation without Good Reason (or without fulfilling the requirements for resigning with Good Reason as required in the Executive Agreement), the
Purchaser Shares will be forfeited and automatically surrendered to the Company for no additional consideration and the Stockholders will have no further rights to the Purchaser Shares. 

  
 -2- 

 3. Lock-Up Period. Each Stockholder hereby agrees that such Stockholder shall not offer,
pledge, sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any Common Stock (or
other securities) of the Company or enter into any swap, hedging or other arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of any Common Stock (or other securities) of the Company held by such
Stockholder (other than those included in the registration) for a period specified by the representative of the underwriters of Common Stock (or other securities) of the Company not to exceed one hundred and eighty (180) days following the
effective date of any registration statement of the Company filed under the Securities Act (or such other period as may be requested by the Company or the underwriters to accommodate regulatory restrictions on (i) the publication or other
distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in NASD Rule 2711(f)(4) or NYSE Rule 472(f)(4), or any successor provisions or amendments
thereto). 
 Each Stockholder agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the
underwriter which are consistent with the foregoing or which are necessary to give further effect thereto. In addition, if requested by the Company or the representative of the underwriters of Common Stock (or other securities) of the Company, each
Stockholder shall provide, within ten (10) days of such request, such information as may be required by the Company or such representative in connection with the completion of any public offering of the Company’s securities pursuant to a
registration statement filed under the Securities Act. The obligations described in this Section 3 shall not apply to a registration relating solely to employee benefit plans on Form S-1 or Form S-8 or similar forms that may be promulgated in
the future, or a registration relating solely to a Commission Rule 145 transaction on Form S-4 or similar forms that may be promulgated in the future. The Company may impose stop-transfer instructions with respect to the shares of Common Stock (or
other securities) subject to the foregoing restriction until the end of said one hundred and eighty (180) day (or other) period. Each Stockholder agrees that any transferee of any portion of the Purchaser Shares or shares acquired pursuant to
the Purchaser Shares shall be bound by this Section 3. 
 4. Tax Consequences. Each Stockholder has reviewed with such
Stockholder’s own tax advisors the federal, state, local and foreign tax consequences of the transactions contemplated by this Agreement. The Stockholders are relying solely on such advisors and not on any statements or representations of the
Company or any of its agents. Each Stockholder understands that such Stockholder (and not the Company) shall be responsible for such Stockholder’s tax liability that may arise as a result of the transactions contemplated by this Agreement. 

5. Restriction on Transfer. Except for the escrow described in Section 6, none of the Purchaser Shares or any beneficial interest
therein shall be transferred, encumbered or otherwise disposed of in any way until the release of such Purchaser Shares from the Forfeiture Obligations in accordance with the provisions of this Agreement. Any distribution or delivery to be made to a
Stockholder under this Agreement shall, if such Stockholder is then deceased, be made to such Stockholder’s designated beneficiary, or if no beneficiary survives such Stockholder, to the administrator or executor of the Stockholder’s
estate. Any such transferee must furnish the Company with (a) written notice of his or her status as transferee, and (b) evidence satisfactory to the Company to establish the validity of the transfer and compliance with any laws or
regulations pertaining to said transfer. 

  
 -3- 

 6. Escrow of Shares. 

(a) To ensure the availability for delivery of the Purchaser Shares in the event of forfeiture to the Company, the Stockholders will, upon
execution of this Agreement, deliver and deposit (or direct such Purchaser Shares to be delivered and deposited) with an escrow holder designated by the Company (the “Escrow Holder”) the share certificates representing the Purchaser
Shares, together with the Assignment Separate from Certificate (the “Stock Assignment”) duly endorsed in blank, a form of which is attached hereto as Exhibit A-1. The Purchaser Shares and Stock Assignment shall be held by the
Escrow Holder, pursuant to the Joint Escrow Instructions of the Company and the Stockholders attached as Exhibit A-2 hereto, until such time as the Forfeiture Obligations expire. 

(b) The Escrow Holder shall not be liable for any act it may do or omit to do with respect to holding the Purchaser Shares in escrow and while
acting in good faith and in the exercise of its judgment. 
 (c) Subject to the terms hereof, each Stockholder shall have all the rights of a
shareholder with respect to such Stockholder’s Pro Rata Portion (as defined in the Purchase Agreement) of such Purchaser Shares while they are held in escrow, including without limitation, the right to vote the Purchaser Shares and receive any
cash dividends declared thereon. 
 7. Company’s Right of First Refusal. Subject to Section 5, before any Purchaser Shares
held by a Stockholder or any transferee (either being sometimes referred to herein as the “Holder”) may be sold or otherwise transferred (including transfer by gift or operation of law), the Company or its assignee(s) shall have a
right of first refusal to purchase the Purchaser Shares being sold or otherwise transferred (the “Transfer Shares”) on the terms and conditions set forth in this Section 7 (the “Right of First Refusal”). 

(a) Notice of Proposed Transfer. The Holder of the Transfer Shares shall deliver to the Company a written notice (the
“Notice”) stating: (i) the Holder’s bona fide intention to sell or otherwise transfer such Transfer Shares; (ii) the name of each proposed purchaser or other transferee (“Proposed Transferee”);
(iii) the number of Purchaser Shares to be transferred to each Proposed Transferee; and (iv) the bona fide cash price or other consideration for which the Holder proposes to transfer the Transfer Shares (the “Offered
Price”), and the Holder shall offer the Transfer Shares at the Offered Price to the Company or its assignee(s). 
 (b) Exercise
of Right of First Refusal. At any time within thirty (30) days after receipt of the Notice, the Company and/or its assignee(s) may, by giving written notice to the Holder, elect to purchase all, but not less than all, of the Transfer Shares
proposed to be transferred to any one or more of the Proposed Transferees, at the purchase price determined in accordance with subsection (c) below. 

  
 -4- 

 (c) Purchase Price. The purchase price (“Right of First Refusal Price”)
for the Transfer Shares purchased by the Company or its assignee(s) under this Section 7 shall be the Offered Price. If the Offered Price includes consideration other than cash, the cash equivalent value of the non-cash consideration shall be
determined by the Board in good faith. 
 (d) Payment. Payment of the Right of First Refusal Price shall be made, at the option of the
Company or its assignee(s), in cash (by check), by cancellation of all or a portion of any outstanding indebtedness of the Holder to the Company (or, to its assignee), or by any combination thereof within thirty (30) days after receipt of the
Notice or in the manner and at the times set forth in the Notice. 
 (e) Holder’s Right to Transfer. If all of the Transfer
Shares proposed in the Notice to be transferred to a given Proposed Transferee are not purchased by the Company and/or its assignee(s) as provided in this Section 7, then the Holder may sell or otherwise transfer such Transfer Shares to that
Proposed Transferee at the Offered Price or at a higher price, provided that such sale or other transfer is consummated within one hundred and twenty (120) days after the date of the Notice, that any such sale or other transfer is effected in
accordance with any applicable securities laws and that the Proposed Transferee agrees in writing that the provisions of this Section 7 shall continue to apply to the Transfer Shares in the hands of such Proposed Transferee. If the Transfer
Shares described in the Notice are not transferred to the Proposed Transferee within such period, a new Notice shall be given to the Company, and the Company and/or its assignees shall again be offered the Right of First Refusal before any Transfer
Shares held by the Holder may be sold or otherwise transferred. 
 (f) Exception for Certain Family Transfers. Anything to the
contrary contained in this Section 7 notwithstanding, the transfer of any or all of the Purchaser Shares held by a Stockholder during such Stockholder’s lifetime or on such Stockholder’s death by will or intestacy to such
Stockholder’s immediate family or a trust for the benefit of the Stockholder’s immediate family shall be exempt from the provisions of this Section 7. “Immediate Family” as used herein shall mean spouse, lineal
descendant or antecedent, father, mother, brother or sister. In such case, the transferee or other recipient shall receive and hold the Purchaser Shares so transferred subject to the provisions of this Agreement, including but not limited to this
Section 7 and Section 9, and there shall be no further transfer of such Purchaser Shares except in accordance with the terms of this Section 7. 

(g) Termination of Right of First Refusal. The Right of First Refusal shall terminate as to any Purchaser Shares upon the earlier of
(i) the first sale of Common Stock of the Company to the general public, or (ii) a Change in Control in which the successor corporation has equity securities that are publicly traded. 

8. Representations and Warranties. 

(a) Accredited Investor. Each Stockholder is an “accredited investor” within the meaning of Rule 501(a) of Regulation D
promulgated by the SEC under the Securities Act. 

  
 -5- 

 (b) No Registration. Each Stockholder understands and acknowledges that the issuance by
the Company of the Purchaser Shares will not be registered under the Securities Act by reason of a specific exemption from the registration and prospectus delivery requirements of the Securities Act, the availability of which depends upon, among
other things, the bona fide nature of the investment intent and the accuracy of each Stockholder’s representations set forth in this Section 8. 

(c) Restricted Stock. Each Stockholder understands and acknowledges that the Purchaser Shares constitute “restricted stock”
and, therefore, such shares may not be sold unless they are registered under the Securities Act or an exemption from the registration and prospectus delivery requirements of the Securities Act is available. 

(d) Investment Intent. Each Stockholder is acquiring the Purchaser Shares for investment for its own account, not as a nominee or agent,
and not with the view to, or for resale in connection with, any distribution thereof, and that neither Stockholder has any present intention of selling, granting any participation in, or otherwise distributing the same. Each Stockholder further
represents that it does not have any contract, undertaking, agreement or arrangement with any person or entity to sell, transfer or grant participation to such person or entity or to any third person or entity with respect to any of the Purchaser
Shares. 
 (e) Speculative Nature of Investment. Each Stockholder understands and acknowledges that the Company has a limited
financial and operating history and that an investment in the Company is highly speculative and involves substantial risks. Each Stockholder can bear the economic risk of such Stockholder’s investment and is able, without impairing such
Stockholder’s financial condition, to hold the Purchaser Shares for an indefinite period of time and to suffer a complete loss of such Stockholder’s investment. 

(f) Access to Data. Each Stockholder has had an opportunity to ask questions of, and receive answers from, the officers of the Company
concerning the Purchaser Shares and the transactions contemplated by the Purchase Agreement, as well as the Company’s business, management and financial affairs, which questions were answered to its satisfaction. Each Stockholder believes that
it has received all the information such Stockholder considers necessary or appropriate for deciding to acquire the Purchase Shares pursuant to the Purchase Agreement. Each Stockholder understands that any information issued by the Company was
intended to describe certain aspects of the Company’s business and prospects, but was not necessarily a thorough or exhaustive description. Each Stockholder acknowledges that any business plans prepared by the Company have been, and continue to
be, subject to change and that any projections included in such business plans or otherwise are necessarily speculative in nature, and it can be expected that some or all of the assumptions underlying the projections will not materialize or will
vary significantly from actual results. Each Stockholder also acknowledges that it is relying solely on its own counsel and not on any statements or representations of the Company or its agents for legal advice with respect to this investment or the
transactions contemplated by the transactions contemplated by the Purchase Agreement. 

  
 -6- 

 9. Restrictive Legends and Stop-Transfer Orders. 

(a) Legends. Each Stockholder understands and agrees that the Company shall cause the legends set forth below or legends substantially
equivalent thereto, to be placed upon any certificate(s) evidencing ownership of the Purchaser Shares together with any other legends that may be required by the Company or by state or federal securities laws: 

THE SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE “ACT”) AND MAY NOT BE OFFERED, SOLD
OR OTHERWISE TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER THE ACT OR, IN THE OPINION OF COUNSEL SATISFACTORY TO THE ISSUER OF THESE SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS IN COMPLIANCE
THEREWITH. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO CERTAIN RESTRICTIONS ON TRANSFER AND A RIGHT OF FIRST REFUSAL HELD BY
THE ISSUER OR ITS ASSIGNEE(S) AS SET FORTH IN THE RESTRICTED STOCK AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES, A COPY OF WHICH MAY BE OBTAINED AT THE PRINCIPAL OFFICE OF THE ISSUER. SUCH TRANSFER RESTRICTIONS AND RIGHT OF
FIRST REFUSAL ARE BINDING ON TRANSFEREES OF THESE SHARES. 
 THE SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON
TRANSFER FOR A PERIOD OF TIME FOLLOWING THE EFFECTIVE DATE OF THE UNDERWRITTEN PUBLIC OFFERING OF THE COMPANY’S SECURITIES SET FORTH IN AN AGREEMENT BETWEEN THE ISSUER AND THE ORIGINAL HOLDER OF THESE SHARES AND MAY NOT BE SOLD OR OTHERWISE
DISPOSED OF BY THE HOLDER PRIOR TO THE EXPIRATION OF SUCH PERIOD WITHOUT THE CONSENT OF THE COMPANY OR THE MANAGING UNDERWRITER. 
 (b)
Stop-Transfer Notices. Each Stockholder agrees that, in order to ensure compliance with the restrictions referred to herein, the Company may issue appropriate “stop transfer” instructions to its transfer agent, if any, and that, if
the Company transfers its own securities, it may make appropriate notations to the same effect in its own records. 
 (c) Refusal to
Transfer. The Company shall not be required (i) to transfer on its books any Purchaser Shares that have been sold or otherwise transferred in violation of any of the provisions of this Agreement or (ii) to treat as owner of such
Purchaser Shares or to accord the right to vote or pay dividends to any purchaser or other transferee to whom such Purchaser Shares shall have been so transferred. 

10. Notices. Any notice, demand or request required or permitted to be given by either the Company or a Stockholder pursuant to the
terms of this Agreement shall be in writing and shall be deemed given when delivered personally or deposited in the U.S. mail, First Class with postage prepaid, and addressed to the parties at the addresses of the parties set forth at the end of
this Agreement or such other address as a party may request by notifying the other in writing. 

  
 -7- 

 Any notice to the Escrow Holder shall be sent to the Company’s address with a copy to the
other parties not sending the notice. 
 11. No Waiver. Either party’s failure to enforce any provision or provisions of this
Agreement shall not in any way be construed as a waiver of any such provision or provisions, nor prevent that party from thereafter enforcing each and every other provision of this Agreement. The rights granted both parties herein are cumulative and
shall not constitute a waiver of either party’s right to assert all other legal remedies available to it under the circumstances. 

12. Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this
Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer herein set forth, this Agreement shall be binding upon each Stockholder and his or her heirs, executors, administrators,
successors and assigns. The rights and obligations of the Stockholders under this Agreement may only be assigned with the prior written consent of the Company. 

13. Interpretation. Any dispute regarding the interpretation of this Agreement shall be submitted by the Stockholders or by the Company
forthwith to the Administrator, which shall review such dispute at its next regular meeting. The resolution of such a dispute by the Administrator shall be final and binding on all parties. 

14. Additional Documents. Each Stockholder agrees upon request to execute any further documents or instruments necessary or desirable
to carry out the purposes or intent of this Agreement. 
 15. Counterparts. This Agreement may be executed in one or more
counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, it being understood that all parties need
not sign the same counterpart. The exchange of a fully executed Agreement (in counterparts or otherwise) by electronic transmission in .PDF format or by facsimile shall be sufficient to bind the parties to the terms and conditions of this Agreement.

 16. Governing Law; Severability. This Agreement is governed by the internal substantive laws, but not the choice of law rules, of
Delaware. In the event that any provision hereof becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, this Agreement shall continue in full force and effect. 

17. Entire Agreement. This Agreement, the Purchase Agreement and the Executive Agreement (including the exhibits referenced herein)
constitute the entire agreement of the parties with respect to the subject matter hereof and supersede in their entirety all prior undertakings and agreements of the Company and the Stockholders with respect to the subject matter hereof, and may not
be modified adversely to the Stockholders’ interests except by means of a writing signed by the Company and the Stockholders. 

(Signature page(s) to follow.) 

  
 -8- 

 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be duly executed and
delivered in its name and on its behalf as of the date first above written. 
  

	
	“COMPANY”
	
	SILVERBACK ENTERPRISE GROUP, INC.
	
	/s/ JOHN T. MCDONALD
	By
	
	John T. McDonald
	Print Name
	
	Chief Executive Officer
	Title
	
	“STOCKHOLDERS”
	
	Joseph Larcsheid
	
	/s/ JOSEPH LARCSHEID
	By
	
	Joseph Larcsheid
	Print Name
	
	 
	Title
	
	Cheryl Larscheid
	
	/s/ CHERYL LARSCHEID
	By
	
	Cheryl Larscheid
	Print Name
	
	 
	Title

  
 -9- 

 EXHIBIT A-1 

ASSIGNMENT SEPARATE FROM CERTIFICATE 

FOR VALUE RECEIVED I,
                    , hereby sell, assign and transfer unto Silverback Enterprise Group, Inc.
                     shares of the Series B-1 Preferred Stock of Silverback Enterprise Group, Inc. standing in my name on the books of said
corporation represented by Certificate No.          herewith and do hereby irrevocably constitute and appoint
                     to transfer the said stock on the books of the within named corporation with full power of substitution in the premises. 

This Stock Assignment may be used only in accordance with the Restricted Stock Agreement between Silverback Enterprise Group, Inc., Joseph
Larscheid and Cheryl Larscheid dated                     ,          (the “Agreement”). 

 

							
	Dated:             ,         	 		 	Signature:	 	  

				
	Dated:             ,         	 		 	Signature:	 	  

 INSTRUCTIONS: Please do not fill in any blanks other than the signature line. 

  
 -10- 

 EXHIBIT A-2 

JOINT ESCROW INSTRUCTIONS 

            ,          

Chief Financial Officer 
 Silverback Enterprise Group, Inc. 

401 Congress Ave. 
 Suite 2950 

Austin, TX 78701 
 Dear
                    : 
 As Escrow
Agent for both Silverback Enterprise Group, Inc. (the “Company”), and the undersigned holders of stock of the Company (the “Stockholders”), you are hereby authorized and directed to hold the documents delivered to you pursuant to
the terms of that certain Restricted Stock Agreement (the “Agreement”) between the Company, Joseph Larscheid and Cheryl Larscheid, in accordance with the following instructions: 

1. In the event the shares subject to Forfeiture Obligations as set forth in the Agreement are forfeited to the Company and/or any assignee of
the Company (referred to collectively for convenience herein as the “Company”), the Company shall give to the Stockholders and you a written notice specifying the number of shares of stock being forfeited. The Stockholders and the Company
hereby irrevocably authorize and direct you to close the transaction contemplated by such notice in accordance with the terms of said notice. 

2. At the time indicated in the notice, you are directed (a) to date the stock assignments necessary for the transfer in question,
(b) to fill in the number of shares being transferred, and (c) to deliver the stock assignments, together with the certificate evidencing the shares of stock to be transferred, to the Company or its assignee. 

3. The Stockholders irrevocably authorize the Company to deposit with you any certificates evidencing shares of stock to be held by you
hereunder and any additions and substitutions to said shares as defined in the Agreement. The Stockholders do hereby irrevocably constitute and appoint you as the Stockholders’ attorney-in-fact and agent for the term of this escrow to execute
with respect to such securities all documents necessary or appropriate to make such securities negotiable and to complete any transaction herein contemplated, including but not limited to the filing with any applicable state blue sky authority of
any required applications for consent to, or notice of transfer of, the securities. Subject to the provisions of this paragraph 3, the Stockholders shall exercise all rights and privileges of a stockholder of the Company while the stock is held
by you. 
 4. Your duties hereunder may be altered, amended, modified or revoked only by a writing signed by all of the parties hereto. 

 5. You shall be obligated only for the performance of such duties as are specifically set forth
herein and may rely and shall be protected in relying or refraining from acting on any instrument reasonably believed by you to be genuine and to have been signed or presented by the proper party or parties. You shall not be personally liable for
any act you may do or omit to do hereunder as Escrow Agent or as attorney-in-fact for the Stockholders while acting in good faith, and any act done or omitted by you pursuant to the advice of your own attorneys shall be conclusive evidence of such
good faith. 
 6. You are hereby expressly authorized to disregard any and all warnings given by any of the parties hereto or by any other
person or corporation, excepting only orders or process of courts of law and are hereby expressly authorized to comply with and obey orders, judgments or decrees of any court. In case you obey or comply with any such order, judgment or decree, you
shall not be liable to any of the parties hereto or to any other person, firm or corporation by reason of such compliance, notwithstanding any such order, judgment or decree being subsequently reversed, modified, annulled, set aside, vacated or
found to have been entered without jurisdiction. 
 7. You shall not be liable in any respect on account of the identity, authorities or
rights of the parties executing or delivering or purporting to execute or deliver the Agreement or any documents or papers deposited or called for hereunder. 

8. You shall not be liable for the outlawing of any rights under the Statute of Limitations with respect to these Joint Escrow Instructions or
any documents deposited with you. 
 9. You shall be entitled to employ such legal counsel and other experts as you may deem necessary
properly to advise you in connection with your obligations hereunder, may rely upon the advice of such counsel, and may pay such counsel reasonable compensation therefor. 

10. Your responsibilities as Escrow Agent hereunder shall terminate if you shall cease to be an officer or agent of the Company or if you shall
resign by written notice to each party. In the event of any such termination, the Company shall appoint a successor Escrow Agent. 
 11. If
you reasonably require other or further instruments in connection with these Joint Escrow Instructions or obligations in respect hereto, the necessary parties hereto shall join in furnishing such instruments. 

12. It is understood and agreed that should any dispute arise with respect to the delivery and/or ownership or right of possession of the
securities held by you hereunder, you are authorized and directed to retain in your possession without liability to anyone all or any part of said securities until such disputes shall have been settled either by mutual written agreement of the
parties concerned or by a final order, decree or judgment of a court of competent jurisdiction after the time for appeal has expired and no appeal has been perfected, but you shall be under no duty whatsoever to institute or defend any such
proceedings. 
 13. Any notice required or permitted hereunder shall be given in writing and shall be deemed effectively given upon personal
delivery or upon deposit in the United States Post Office, by registered or certified mail with postage and fees prepaid, addressed to each of the other parties thereunto entitled at the following addresses or at such other addresses as a party may
designate by ten (10) days advance written notice to each of the other parties hereto. 

  
 -2- 

 14. By signing these Joint Escrow Instructions, you become a party hereto only for the purpose of
said Joint Escrow Instructions; you do not become a party to the Agreement. 
 15. This instrument shall be binding upon and inure to the
benefit of the parties hereto, and their respective successors and permitted assigns. 
 16. These Joint Escrow Instructions shall be
governed by the internal substantive laws, but not the choice of law rules, of Delaware. 
 (Signature page(s) to follow.) 

  
 -3- 

 IN WITNESS WHEREOF, each of the Parties has caused this Agreement to be duly executed and
delivered in its name and on its behalf as of the date first above written. 
  

			
	“COMPANY”
	
	SILVERBACK ENTERPRISE GROUP, INC.
	
	/s/ JOHN T. MCDONALD
	By
	
	John T. McDonald
	Print Name
	
	Chief Executive Officer
	Title
	
	“STOCKHOLDERS”
	
	Joseph Larscheid
	
	/s/ JOSEPH LARSCHEID
	By
	
	Joseph Larscheid
	Print Name
	
	Cheryl Larscheid
	
	/s/ CHERYL LARSCHEID
	By
	
	Cheryl Larscheid
	Print Name
	
	ESCROW AGENT
	
	/s/ MICHAEL HILL
	Chief Financial Officer
		
	Dated:	 	11/14/12

  
 -4-

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