Document:

Exhibit 4.1

 

CONSONUS
TECHNOLOGIES, INC.

 

REGISTRATION
RIGHTS AGREEMENT

 

REGISTRATION RIGHTS AGREEMENT (this “Agreement”),
dated as of January 22, 2007, by and among Consonus Technologies, Inc.,
a Delaware corporation (the “Company”), Knox Lawrence International,
LLC, a Delaware limited liability company (“KLI”), Michael G. Shook, an
individual resident of the State of North Carolina (“M. Shook”), and
William M. Shook, an individual resident of the State of North Carolina (“W.
Shook”) (KLI, M. Shook and W. Shook are collectively referred to as the “Investors”).

 

R  E
C  I  T  A  L  S

 

WHEREAS, pursuant to the terms of an Agreement and
Plan of Merger and Reorganization dated as of October 18, 2006, by and
among the Company, Consonus Acquisition Corp., a Delaware corporation,
Strategic Technologies, Inc., a North Carolina corporation, CAC Merger Sub, Inc.,
a Delaware corporation, and STI Merger Sub, Inc., a North Carolina
corporation (the “Purchase Agreement”), the Company has agreed to grant
the Investors certain registration rights with respect to the shares of the
Company’s common stock (the “Common Stock”) issued to the Investors in
the Mergers (as defined in the Purchase Agreement) on the terms and conditions
set forth herein; and

 

WHEREAS, the Company and the Investors desire to
define the registration rights of each such party on the terms and subject to
the conditions herein set forth.

 

NOW, THEREFORE, in consideration of the foregoing
premises and for other good and valuable consideration, the parties hereby agree
as follows:

 

SECTION 1.
DEFINITIONS

 

As used in this Agreement, the following terms have
the respective meaning set forth below:

 

Commission:  shall mean the Securities and Exchange
Commission or any other federal agency at the time administering the Securities
Act;

 

Exchange Act:  shall mean the Securities Exchange Act of
1934, as amended;

 

Initial Public Offering:  shall mean the initial public offering of
shares of Common Stock pursuant to a Registration under the Securities Act;

 

Person:  shall mean an individual, partnership,
joint-stock company, corporation, trust or unincorporated organization, and a
government or agency or political subdivision thereof;

 

Register, Registered and Registration:  shall mean a registration effected by
preparing and filing a registration statement in compliance with the Securities
Act (and any post-effective amendments filed or required to be filed) and the
declaration or ordering of effectiveness of such registration statement;

 

 

Registrable Securities:  shall mean any shares of Common Stock issued
to the Investors in connection with the Mergers, including without limitation,
any shares of capital stock of the Company issued upon exercise of convertible
securities or issued as a dividend or other distribution with respect to, or in
exchange for or in replacement of, any shares of Common Stock referred to
above;

 

Registration Expenses:  shall mean all expenses incurred by the
Company in compliance with Section 2(a), (b) and (c) hereof,
including, without limitation, all Registration and filing fees, printing
expenses, fees and disbursements of counsel for the Company, fees and expenses
of one counsel for all holders of Registrable Securities to be included in such
Registration (selected by the Demanding Investor if it is a demand Registration
and by the holders of a majority of the Registrable Securities requested to be
included in a piggyback registration), blue sky fees and expenses and the
expense of any special audits incident to or required by any such Registration
(but excluding the compensation of regular employees of the Company, which
shall be paid in any event by the Company);

 

Security, Securities:  shall have the meaning set forth in Section 2(1) of
the Securities Act;

 

Securities Act:  shall mean the Securities Act of 1933, as
amended; and

 

Selling Expenses:  shall mean all underwriting discounts and
selling commissions applicable to the sale of Registrable Securities and all
fees and disbursements of counsel for the Investors other than fees and
expenses of one counsel included in the Registration Expenses.

 

SECTION 2.
REGISTRATION RIGHTS

 

(a)                                  Requested
Registration.

 

(i)                                     Request
for Registration. If the Company shall receive from an Investor (such
Investor, the “Demanding Investor”) at any time after 180 days following
the Initial Public Offering, a written request that the Company effect any
Registration with respect to all or a part of the Registrable Securities
held by the Investor, the Company will as soon as practicable use all
commercially reasonable efforts to effect such Registration (including without
limitation, the execution of an undertaking to file post-effective amendments,
appropriate qualification under applicable blue sky or other state securities
laws and appropriate compliance with applicable regulations issued under the
Securities Act) as may be so requested and as would permit or facilitate
the sale and distribution of all or such portion of such Registrable Securities
as are specified in such request; provided that the Company shall not be
obligated to effect, or take any action to effect, any such Registration
pursuant to this Section 2(a) for any Investor:

 

(1)                                  After
the Company has effected two (2) such Registrations pursuant to this Section 2(a)
for such Investor and such Registrations have been declared or ordered
effective;

 

(2)                                  If
the Registrable Securities requested by the Investor to be Registered pursuant
to such request do not have an anticipated aggregate

 

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public offering price
(before any underwriting discounts and commissions) of at least $1,000,000; or

 

(3)                                  During
the period starting with the date thirty (30) days prior to the Company’s good
faith estimate of the date of filing of, and ending on the date ninety (90)
days immediately following the effective date of, any registration statement
pertaining to securities of the Company (other than a Registration of
securities in a Rule 145 transaction or, with respect to an employee
benefit plan), provided that the Company is actively employing in good
faith all commercially reasonable efforts to cause such registration statement
to become effective; provided, further, however, that the
Company may only delay an offering pursuant to this Section 2(a)(i)(3)
for a period of not more than ninety (90) days, if a filing of any other
registration statement is not made within that period, and the Company may only
exercise this right once in any twelve (12) month period.

 

(ii)                                  Other
Stockholders. The registration statement filed pursuant to any such request
of the Demanding Investor may, subject to the provisions of Section 2(a)(iv) below,
include other securities of the Company which are held by Persons who, by
virtue of agreements with the Company, are entitled to include their
Registrable Securities in any such Registration (“Other Stockholders”).

 

(iii)                               Assignment. The
registration rights set forth in this Section 2 may be
assigned, in whole or in part, to any Permitted Transferee of Registrable
Securities (who shall be entitled to all rights and bound by all obligations of
this Agreement). For purposes hereof, a “Permitted Transferee” shall mean such
Investor’s (A) Affiliates, spouse, parents, or lineal descendants, (B) a
trust the beneficiaries of which are such Investor, such Investor’s spouse,
parents, or lineal descendants, (C) a corporation the stockholders of
which are only such Investor, such Investor’s spouse, parents, or lineal
descendants, (D) a limited partnership, the general partner of which is (1) such
Investor, such Investor’s spouse, parents, or lineal descendants, or (2) a
corporation, limited partnership or limited liability company, the majority of
the voting power of which is owned by such Investor, such Investor’s spouse,
parents, or lineal descendants, (E) a limited liability company, the
majority of the voting power of which is owned by such Investor, such Investor’s
spouse, parents, or lineal descendants, or (F) in the case of KLI, any of
KLI’s investors. The term “Affiliate” means, with respect to any
Investor, (i) any other Person directly or indirectly, through one or more
intermediaries, controlling, controlled by, or under common control with such
Investor, and (ii) any Person directly or indirectly owning or controlling
10% or more of the outstanding voting securities of such Investor.

 

(iv)                              Underwriting.

 

(1)                                  If
the Investor(s) intend to distribute the Registrable Securities covered by
their request for Registration by means of an underwriting, it shall so advise
the Company as a part of its request made pursuant to Section 2(a).

 

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(2)                                  If
Other Stockholders request inclusion in any such Registration, the Demanding
Investor(s) shall offer to include the Registrable Securities of such Other
Stockholders in the underwriting but may condition such offer on their
acceptance of the further applicable provisions of this Section 2(a)(iv).
The Investors and the Company shall (together with all Other Stockholders
proposing to distribute their Registrable Securities through such underwriting)
enter into an underwriting agreement in customary form with the
representative of the underwriter or underwriters selected for such
underwriting by the Company and acceptable to the Demanding Investor. Notwithstanding
any other provision of this Section 2(a), if the representative of
such underwriter or underwriters advises the Company and/or the Investors in
writing that marketing factors require a limitation on the number of shares to
be underwritten, the Registrable Securities held by Other Stockholders shall be
excluded from such Registration to the extent so required by such limitation. No
Registrable Securities excluded from the underwriting by reason of the
underwriter’s marketing limitation shall be included in such Registration. If an
Investor or any Other Stockholder who has requested inclusion in such
Registration as provided above disapproves of the terms of the underwriting,
such person may elect to withdraw therefrom by written notice to the
Company, the underwriter and the Demanding Investors. The Demanding Investors may elect
to withdraw from such Registration. The first such withdraw from registration
by a Demanding Investor shall not count as a demand by the Investor for
purposes hereof (including without limitation, Section 2(a)(i)(1)).
The Registrable Securities so withdrawn shall also be withdrawn from
Registration. If the underwriter has not limited the number of Registrable
Securities to be underwritten, the Company and officers and directors of the
Company may include its or their securities for its or their own account
in such Registration if the representative of such underwriter or underwriters
so agrees and if the number of Registrable Securities which would otherwise
have been included in such Registration and underwriting will not thereby be
limited.

 

(b)                                 Company
Registration.

 

(i)                                     If
the Company shall determine to Register any of its equity securities either for
its own account or for the account of Other Stockholders, other than a
Registration relating solely to employee benefit plans, or a Registration
relating solely to a Commission Rule 145 transaction, or a Registration on
any registration form which does not permit secondary sales or does not
include substantially the same information as would be required to be included
in a registration statement covering the sale of Registrable Securities, or a
Registration relating to the Company’s Initial Public Offering, the Company
will:

 

(1)                                  promptly
give to each Investor a written notice thereof (which shall include a list of
the jurisdictions in which the Company

 

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intends to attempt to
qualify such securities under the applicable blue sky or other state securities
laws); and

 

(2)                                  include
in such Registration (and any related qualification under blue sky laws or
other compliance), and in any underwriting involved therein, all the
Registrable Securities held by an Investor specified in a written request made
by such Investor within fifteen (15) days after receipt of the written notice
from the Company described in clause (i) above, except as set forth in Section 2(b)(ii) below.
Such written request may specify all or a part of such Investor’s
Registrable Securities.

 

(ii)                                  Underwriting.
If the Registration of which the Company gives notice is for a Registered
public offering involving an underwriting, the Company shall so advise each
Investor as a part of the written notice given pursuant to Section 2(b)(i)(1).
In such event, the right of an Investor to Registration pursuant to this Section 2(b) shall
be conditioned upon such Investor’s participation in such underwriting and the
inclusion of such Investor’s Registrable Securities in the underwriting to the
extent provided herein. In such case, each such Investor shall (together with
the Company and the Other Stockholders distributing their Registrable
Securities through such underwriting) enter into an underwriting agreement in
customary form with the representative of the underwriter or underwriters
selected for underwriting by the Company. Notwithstanding any other provision
of this Section 2(b), if such representative determines that
marketing factors require a limitation on the number of shares to be
underwritten, such representative may (subject to the allocation priority
set forth below) limit the number of Registrable Securities to be included in
the Registration and underwriting. The Company shall so advise each such
Investor and any other holder of Registrable Securities requesting
Registration, and the number of shares of Registrable Securities that are
entitled to be included in the Registration and underwriting shall be allocated
in the following manner:  the Registrable
Securities held by such Investors and by Other Stockholders (other than
Registrable Securities held by any such persons who by contractual right
demanded such Registration) shall be excluded from such Registration and
underwriting to the extent required by such limitation pro rata in accordance
with the number of shares of Registrable Securities requested by such parties
to be included in such Registration, by such minimum number of shares as is
necessary to comply with such limitation. If any such holder of Registrable
Securities disapproves of the terms of any such underwriting, such holder may elect
to withdraw therefrom by written notice to the Company and the underwriter. Any
Registrable Securities or other securities excluded or withdrawn from such
underwriting shall be withdrawn from such Registration.

 

(c)                                  Over-allotment
Option. If the Registration relating to the Company’s Initial Public
Offering of the Company’s equity securities contemplates an “over-allotment
option” on the part of the underwriters, to the extent such over-allotment
is exercised, the over-allotment option shall be fulfilled through the
Registration of the Registrable Securities of KLI and M. Shook at the same
percentage of the total number of shares of Registrable Securities owned by
each of KLI and M. Shook.

 

(d)                                 Expenses
of Registration. All Registration Expenses incurred in connection with any
Registration, qualification or compliance pursuant to this Section 2
shall be borne by the

 

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Company, and all Selling Expenses shall be borne by the holders of the
Registrable Securities so Registered pro rata on the basis of the number of
their shares of Registrable Securities so Registered.

 

(e)                                  Registration
Procedures. In the case of each Registration effected by the Company
pursuant to this Section 2, the Company will keep each Investor
advised in writing as to the initiation of each Registration and as to the
completion thereof. At its expense, the Company will:

 

(i)                                     keep
such Registration effective for a period of one hundred twenty (120) days or
until each Investor has completed the distribution described in the
registration statement relating thereto, whichever first occurs; provided,
however, that (A) such one hundred twenty (120) day period shall be
extended for a period of time equal to the period during which an Investor
refrain from selling any Registrable Securities included in such Registration
in accordance with provisions in Section 2(i) hereof; and (B) in
the case of any Registration of Registrable Securities on Form S-3 which
are intended to be offered on a continuous or delayed basis, such one hundred
twenty (120) day period shall be extended until all such Registrable Securities
are sold, provided that Rule 415, or any successor rule under the
Securities Act, permits an offering on a continuous or delayed basis, and provided
further that applicable rules under the Securities Act governing
the obligation to file a post-effective amendment permit, in lieu of filing a
post-effective amendment which (y) includes any prospectus required by Section 10(a) of
the Securities Act or (z) reflects facts or events representing a material or
fundamental change in the information set forth in the registration statement,
the incorporation by reference of information required to be included in (y)
and (z) above to be contained in periodic reports filed pursuant to Section 12
or 15(d) of the Exchange Act in the registration statement;

 

(ii)                                  furnish
such number of prospectuses and other documents incident thereto as an Investor
from time to time may reasonably request;

 

(iii)                               notify each holder of
Registrable Securities covered by such Registration at any time when a
prospectus relating thereto is required to be delivered under the Securities
Act of the happening of any event as a result of which the prospectus included
in such registration statement, as then in effect, includes an untrue statement
of a material fact or omits to state a material fact required to be stated
therein or necessary to make the statements therein not misleading in the light
of the circumstances then existing; and

 

(iv)                              furnish,
on the date that such Registrable Securities are delivered to the underwriters
for sale, if such securities are being sold through underwriters (1) an
opinion, dated as of such date, of the counsel representing the Company for the
purposes of such Registration, in form and substance as is customarily
given to underwriters in an underwritten public offering and reasonably
satisfactory to the Investors, addressed to the underwriter and to the holders
of Registrable Securities participating in such Registration and (2) a
letter, dated as of such date, from the independent certified public
accountants of the Company, in form and substance as is customarily given
by independent certified public accountants to underwriters in an underwritten
public offering and reasonably satisfactory to the Investors, addressed to the
underwriters and if permitted by applicable accounting standards, to the
holders of Registrable Securities participating in such Registration.

 

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(f)                                    Indemnification.

 

(i)                                     The
Company will indemnify each Investor, each of its officers, directors, partners
and members, and each person controlling such Investor, with respect to each
Registration which has been effected pursuant to this Section 2, and
each underwriter, if any, and each person who controls any underwriter, against
all claims, losses, damages and liabilities (or actions in respect thereof)
arising out of or based on any untrue statement (or alleged untrue statement)
of a material fact contained in any prospectus, offering circular or other
document (including any related registration statement, notification or the
like) incident to any such Registration, qualification or compliance, or based
on any omission (or alleged omission) to state therein a material fact required
to be stated therein or necessary to make the statements therein not
misleading, or any violation by the Company of the Securities Act or the
Exchange Act or any rule or regulation thereunder applicable to the
Company and relating to action or inaction required of the Company in
connection with any such Registration, qualification or compliance, and will
reimburse each Investor, each of its officers, directors, partners and members,
and each person controlling such Investor, each such underwriter and each
person who controls any such underwriter, for any legal and any other expenses
reasonably incurred in connection with investigating and defending any such
claim, loss, damage, liability or action; provided, that the Company
will not be liable to such Investor in any such case to the extent that any
such claim, loss, damage, liability or expense arises out of or is based on any
untrue statement or omission based upon written information furnished to the
Company by such Investor or underwriter and stated to be specifically for use
therein.

 

(ii)                                  Each
Investor will, if Registrable Securities held by it are included in the
securities as to which such Registration, qualification or compliance is being
effected, indemnify the Company, each of its directors and officers and each
underwriter, if any, of the Company’s securities covered by such a registration
statement, and each person who controls the Company or such underwriter against
all claims, losses, damages and liabilities (or actions in respect thereof)
arising out of or based on any untrue statement (or alleged untrue statement)
of a material fact contained in any such registration statement, prospectus,
offering circular or other document made by such Investor, or any omission (or
alleged omission) to state therein a material fact required to be stated
therein or necessary to make the statements by such Investor therein not
misleading, and will reimburse the Company and such directors, officers,
underwriters and control persons for any legal or any other expenses reasonably
incurred in connection with investigating or defending any such claim, loss,
damage, liability or action, in each case to the extent, but only to the
extent, that such untrue statement (or alleged untrue statement) or omission
(or alleged omission) is made in such registration statement, prospectus,
offering circular or other document in reliance upon and in conformity with
written information furnished to the Company by such Investor and stated to be
specifically for use therein; provided, however, that the obligations of such
Investor hereunder shall be limited to an amount equal to the net proceeds to
such Investor of the Registrable Securities sold as contemplated herein.

 

(iii)                               Each party entitled to
indemnification under this Section 2(f) (the “Indemnified Party”)
shall give notice to the party required to provide indemnification (the “Indemnifying
Party”) and to the other parties hereto promptly after such Indemnified
Party has actual knowledge of any claim as to which indemnity may be
sought, and shall permit the Indemnifying Party to assume the defense of any
such claim or any litigation resulting therefrom;

 

7

 

provided that counsel for the Indemnifying Party, who shall conduct the
defense of such claim or any litigation resulting therefrom, shall be approved
by the Indemnified Party (whose approval shall not unreasonably be withheld)
and the Indemnified Party may participate in such defense at such party’s
expense (unless the Indemnified Party shall have reasonably concluded that
there may be a conflict of interest between the Indemnifying Party and the
Indemnified Party in such action, in which case the fees and expenses of
counsel shall be at the expense of the Indemnifying Party), and provided
further that the failure of any Indemnified Party to give notice as provided
herein shall not relieve the Indemnifying Party of its obligations under this Section 2
unless the Indemnifying Party is materially prejudiced thereby. No Indemnifying
Party, in the defense of any such claim or litigation shall, except with the
consent of each Indemnified Party, consent to entry of any judgment or enter
into any settlement which does not include as an unconditional term thereof the
giving by the claimant or plaintiff to such Indemnified Party of a release from
all liability in respect to such claim or litigation. Each Indemnified Party
shall furnish such information regarding itself or the claim in question as an
Indemnifying Party may reasonably request in writing and as shall be
reasonably required in connection with the defense of such claim and litigation
resulting therefrom.

 

(iv)                              If
the indemnification provided for in this Section 2(f) is held by a
court of competent jurisdiction to be unavailable to an Indemnified Party with
respect to any loss, liability, claim, damage or expense referred to herein,
then the Indemnifying Party, in lieu of indemnifying such Indemnified Party
hereunder, shall contribute to the amount paid or payable by such Indemnified
Party as a result of such loss, liability, claim, damage or expense in such
proportion as is appropriate to reflect the relative fault of the Indemnifying
Party on the one hand and of the Indemnified Party on the other in connection
with the statements or omissions which resulted in such loss, liability, claim,
damage or expense, as well as any other relevant equitable considerations. The
relative fault of the Indemnifying Party and of the Indemnified Party shall be
determined by reference to, among other things, whether the untrue (or alleged
untrue) statement of a material fact or the omission (or alleged omission) to
state a material fact relates to information supplied by the Indemnifying Party
or by the Indemnified Party and the parties’ relative intent, knowledge, access
to information and opportunity to correct or prevent such statement or
omission.

 

(v)                                 Notwithstanding
the foregoing, to the extent that the provisions on indemnification and
contribution contained in the underwriting agreement entered into in connection
with any underwritten public offering contemplated by this Agreement are in
conflict with the foregoing provisions, the provisions in such underwriting
agreement shall be controlling.

 

(vi)                              The
foregoing indemnity agreement of the Company and each Investor is subject to
the condition that, insofar as they relate to any loss, claim, liability or
damage arising out of a statement made in or omitted from a preliminary
prospectus but eliminated or remedied in the amended prospectus on file with
the Commission at the time the registration statement in question becomes
effective or the amended prospectus filed with the Commission pursuant to
Commission Rule 424(b) (the “Final Prospectus”), such
indemnity or contribution agreement shall not inure to the benefit of any
underwriter if a copy of the Final Prospectus was furnished to the underwriter
and was not furnished to the person asserting the loss, liability, claim or
damage at or prior to the time such action is required by the Securities Act.

 

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(g)                                 Information
by the Investors. To the extent the Registrable Securities held by an
Investor are included in any Registration, such Investor shall furnish to the
Company such information regarding such Investor and the distribution proposed
by such Investor as the Company may reasonably request in writing and as
shall be reasonably required in connection with any Registration, qualification
or compliance referred to in this Section 2.

 

(h)                                 Rule 144
Reporting.                                        With
a view to making available the benefits of certain rules and regulations
of the Commission which may permit the sale of restricted securities to
the public without Registration, the Company agrees to:

 

(i)                                     make
and keep public information available as those terms are understood and defined
in Rule 144 under the Securities Act (“Rule 144”), at all
times from and after ninety (90) days following the effective date of the first
Registration under the Securities Act filed by the Company for an offering of
its securities to the general public;

 

(ii)                                  use
all commercially reasonable efforts to file with the Commission in a timely
manner all reports and other documents required of the Company under the
Securities Act and the Exchange Act at any time after it has become subject to
such reporting requirements; and

 

(iii)                               so long as any Investor
owns any Registrable Securities, furnish to such Investor, upon request, a
written statement by the Company as to its compliance with the reporting
requirements of Rule 144 (at any time from and after ninety (90) days
following the effective date of the first registration statement filed by the
Company for an offering of its securities to the general public), and of the
Securities Act and the Exchange Act (at any time after it has become subject to
such reporting requirements), a copy of the most recent annual or quarterly
report of the Company, and such other reports and documents so filed as such
Investor may reasonably request in availing itself of any rule or
regulation of the Commission allowing such Investor to sell any such securities
without Registration.

 

(i)                                     In
the event that the Company notifies the each Investor participating in a
Registration (i) of any request by the Commission or any other federal or
state governmental authority during the period of effectiveness of any
Registration for amendments or supplements to a registration statement or
related prospectus or for additional information, (ii) of the issuance by
the Commission or any other federal or state governmental authority of any stop
order suspending the effectiveness of a Registration or the initiation of any
proceedings for that purpose or (iii) of the receipt by the Investor from
the Company of any notification of any event or circumstance which, upon the
advice of its counsel, necessitates the making of any changes in the
registration statement or prospectus relating to any Registration, or any
document incorporated or deemed to be incorporated therein by reference, so
that, such registration statement or prospectus will not contain any untrue
statement of a material fact or any omission to state a material fact required
to be stated therein or necessary to make the statements therein not misleading
(a “Suspension Notice”), the Investor will refrain from selling any
Registrable Securities pursuant to the Registration (a “Suspension”)
until the Investors receipt of copies of a supplemented or amended prospectus
prepared and filed by the Company, or until it is advised in writing by the
Company that the current prospectus may be used, and has received copies
of any additional or supplemental filings that are incorporated or deemed
incorporated by reference in any such prospectus. In the event of any
Suspension, the Company will use its best efforts to

 

9

 

cause the use of the prospectus so suspended to be resumed as soon as
reasonably practicable. The Company shall be entitled to exercise its right
under this Section 2(i) to suspend the availability of a Registration
for a period not to exceed 60 calendar days (which need not be consecutive
days) in any 12-month period.

 

(j)                                     Termination.
The registration rights set forth in this Section 2 shall not be
available to an Investor if all of the Registrable Securities held by such
Investor (i) have been sold in a Registration pursuant to the Securities
Act or pursuant to Rule 144, or (ii) are eligible for resale pursuant
to Rule 144 during the following ninety (90) day period.

 

(k)                                  Limitation
on Subsequent Registration Rights. The Company shall not, without the prior
written consent of the Investors holding a majority of the outstanding
Registrable Securities then held by all the Investors, enter into any agreement
with any other holder or prospective holder of any securities of the Company
that would allow such other holder or prospective holder to include securities
of the Company in any registration statement on terms more favorable than the
terms on which the Investors may include shares of Registrable Securities
in such Registration.

 

(l)                                     Holdback
Agreements.

 

(i)                                     If
and whenever the Company effects a Registration pursuant to Section 2,
each Investor that holds Registrable Securities included in such Registration
agrees not to effect any public sale or distribution, including any sale
pursuant to Rule 144 under the Securities Act, of any Registrable
Securities within seven days prior to and 90 days (unless advised in writing by
the managing underwriter that a longer period, not to exceed 180 days, is
required) after the effective date of the registration statement relating to
such Registration, except as part of such Registration; provided, however,
that each such Investor only agrees to such restriction if and to the extent
that all other holders of Registrable Securities included in such Registration
(including without limitation, officers and directors of the Company) similarly
agree not to effect any such sales or distributions during such periods.

 

(ii)                                  The
Company agrees not to effect any public sale or distribution of its equity
securities or securities convertible into or exchangeable or exercisable for
any of such securities within seven days prior to and 90 days (unless advised
in writing by the managing underwriter that a longer period, not to exceed 180
days, is required) after the effective date of any such registration statement
as described in Section 2(k)(i) (except as part of such
Registration or pursuant to a Registration on Form S-4 or S-8 or any
successor form). In addition, if requested by the managing underwriter, the
Company shall use its commercially reasonable best efforts to cause each holder
of Registrable Securities, to agree not to effect any such public sale or
distribution of such Registrable Securities during such period, except as part of
any such Registration if permitted, and to use its commercially reasonable
efforts to cause each such holder to enter into a similar agreement to such
effect with the Company.

 

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SECTION 3.
MISCELLANEOUS

 

(a)                                  Directly
or Indirectly. Where any provision in this Agreement refers to action to be
taken by any Person, or which such Person is prohibited from taking, such
provision shall be applicable whether such action is taken directly or
indirectly by such Person.

 

(b)                                 Governing Law; WAIVER OF
JURY TRIAL. This Agreement and all actions arising out of
or in connection with this Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, without regard to the
conflicts of law provisions of the State of Delaware or of any other state. EACH OF THE COMPANY AND EACH INVESTOR, BY ITS EXECUTION OF THIS
AGREEMENT, HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES TRIAL BY JURY IN ANY
LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT OR ANY CLAIM RELATING
THERETO.

 

(c)                                  Section Headings.
The headings of the sections and subsections of this Agreement are inserted for
convenience only and shall not be deemed to constitute a part thereof.

 

(d)                                 Notices.

 

(i)                                     All
communications under this Agreement shall be in writing and shall be delivered
by hand or facsimile or mailed by overnight courier or by registered or
certified mail, postage prepaid:

 

(1)                                  if
to the Company, to Consonus Technologies, Inc., 301 Gregson Drive, Cary,
North Carolina 27511 (facsimile: (919) 379-8100), Attn: Chief Executive
Officer, or at such other address or facsimile number as the Company may have
furnished to each Investor in writing in accordance with the terms hereof;

 

(2)                                  if
to KLI, to 445 Park Avenue, 20th Floor, New York, NY 10022,
(facsimile: (212) 202-4168), Attention: Nana Baffour, or at such other address
or facsimile number as KLI may have furnished to the Company and the other
Investors in writing in accordance with the terms hereof; and

 

(3)                                  if
to M. Shook, to c/o Strategic Technologies, Inc., 301 Gregson Drive, Cary,
NC 27511, (facsimile: (919) 379-8000), Attention: Mike Shook, or at such other
address or facsimile number as M. Shook may have furnished to the Company
and the other Investors in writing in accordance with the terms hereof.

 

(4)                                  if
to W. Shook, to c/o Strategic Technologies, Inc., 301 Gregson Drive, Cary,
NC 27511, (facsimile: (919) 379-8000), Attention: Will Shook, or at such other
address or facsimile number as W. Shook may have furnished to the Company
and the other Investors in writing in accordance with the terms hereof.

 

(ii)                                  Any
notice so addressed shall be deemed to be given: if delivered by hand or
facsimile, on the date of such delivery; if mailed by courier, on the first
business day

 

11

 

following the date of such mailing; and if mailed by registered or
certified mail, on the third business day after the date of such mailing.

 

(e)                                  Reproduction
of Documents. This Agreement and all documents relating thereto, including,
without limitation, any consents, waivers and modifications which may hereafter
be executed may be reproduced by the Investors by any photographic,
photostatic, microfilm, microcard, miniature photographic or other similar
process and the Investors may destroy any original document so reproduced.
The parties hereto agree and stipulate that any such reproduction shall be
admissible in evidence as the original itself in any judicial or administrative
proceeding (whether or not the original is in existence and whether or not such
reproduction was made by the Investors in the regular course of business) and
that any enlargement, facsimile or further reproduction of such reproduction
shall likewise be admissible in evidence.

 

(f)                                    Successors
and Assigns. Subject to the restrictions on transfer described in clauses (i) and
(ii) below, the rights and obligations of the Company and the Investors
hereunder shall be binding upon and benefit the successors, assigns, heirs,
administrators and transferees of such parties.

 

(i)                                     The
rights, interests or obligations hereunder may not be assigned, by
operation of law or otherwise, in whole or in part, by an Investor without the
prior written consent of the Company; provided, however, an
Investor may assign its interest to its partners, limited partners or
affiliates without the consent of the Company.

 

(g)                                 The
rights, interests or obligations hereunder may not be assigned, by
operation of law or otherwise, in whole or in part, by the Company without the
prior written consent of each Investor.

 

(h)                                 Entire
Agreement; Amendment and Waiver. This Agreement constitutes the full and
entire understanding and agreement between the parties hereto with regard to
the subject matter hereof and thereof and supersede all prior and
contemporaneous understandings, agreements, commitments and undertakings
(written or oral) of the parties hereto with respect to such subject matter. Any
term of this Agreement may be amended and, except as otherwise provided
herein, the observance of any term of the Agreement may be waived (either
generally or in a particular instance and either retroactively or
prospectively) only with the written consent of the Company and the Investors
holding a majority of the outstanding Registrable Securities then held by all
the Investors; provided, however, that if any such amendment or waiver shall
materially adversely affect an Investor in a manner different that the other
Investors then the prior written consent of such materially adversely affected
Investor shall be required in connection with such amendment or waiver.

 

(i)                                     Severability.
If any provision of this Agreement shall be judicially determined to be
invalid, illegal or unenforceable, the validity, legality and enforceability of
the remaining provisions shall not in any way be affected or impaired thereby.

 

(j)                                     Counterparts.
This Agreement may be executed in one or more counterparts, each of which
shall be deemed an original and all of which together shall be considered one
and the same agreement.

 

12

 

(k)                                  Facsimile. This Agreement may be executed via
facsimile.

 

- Signatures on following
page -

 

13

 

IN WITNESS WHEREOF, the undersigned have executed this
Registration Rights Agreement as of the date first set forth above.

 

	
   

  	
   

  	
  CONSONUS TECHNOLOGIES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Michael
  G. Shook

  	
   

  
	
   

  	
   

  	
   

  	
  Michael
  G. Shook, Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  KNOX LAWRENCE INTERNATIONAL, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Nana
  Baffour

  	
   

  
	
   

  	
   

  	
   

  	
  Nana
  Baffour, Managing Principal

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Michael
  G. Shook

  	
   

  
	
   

  	
   

  	
   

  	
  Michael
  G. Shook, Individually

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/William
  M. Shook

  	
   

  
	
   

  	
   

  	
   

  	
  William
  M. Shook, Individually

  

 

SIGNATURE PAGE TO REGISTRATION
RIGHTS AGREEMENTExhibit 4.2

 

STOCKHOLDERS AGREEMENT

 

THIS STOCKHOLDERS AGREEMENT
(the “Agreement”) is effective as of January 22, 2007, among
Consonus Technologies, Inc., a Delaware corporation (the “Company”),
Knox Lawrence International, LLC, a Delaware limited liability company (“KLI”)
and those Persons listed on Exhibit A attached hereto (each a “Significant
Stockholder”; KLI and each Significant Stockholder, a “Stockholder”).

 

WHEREAS, the Company, Consonus Acquisition Corp., a Delaware
corporation (“Consonus”), Strategic Technologies, Inc., a North
Carolina corporation (“STI”), CAC Merger Sub, Inc., a Delaware
corporation and a wholly and directly owned subsidiary of Company (“CAC
Merger Sub”), STI Merger Sub, Inc., a North Carolina corporation and a
wholly and directly owned subsidiary of Company (“STI Merger Sub”) have
entered into a merger agreement (the “Merger Agreement”)  dated  October 18,
2006 pursuant to which (i) CAC Merger Sub will be merged with and into
Consonus, the separate corporate existence of CAC Merger Sub will thereupon
cease and Consonus will continue as the surviving corporation and a wholly
owned subsidiary of the Company and (ii) STI Merger Sub will be merged
with and into STI, the separate corporate existence of STI Merger Sub will
thereupon cease and STI will continue as the surviving corporation and a wholly
owned subsidiary of the Company (together, the “Mergers”).

 

WHEREAS, KLI owned approximately 92.1% of the outstanding capital stock
of Consonus and as a result of the Mergers received 2,818,247 Shares of the
Common Stock of the Company, which represents approximately 67% of the
outstanding Common Stock of the Company on the date of this Agreement.

 

WHEREAS, the Significant Stockholders collectively owned approximately
76.5% of the outstanding capital stock of STI prior to the Mergers and as a
result of the Mergers received 874,266 Shares of the Common Stock of the
Company, which represents approximately 21% of the outstanding Common Stock of
the Company on the date of this Agreement.

 

WHEREAS, the Company and the Stockholders have agreed to enter into
this Agreement as a condition precedent for consummation of the Mergers.

 

NOW, THEREFORE, in consideration of the mutual covenants,
representations, warranties and obligations set forth in this Agreement, the
parties hereto agree as follows:

 

1.                                      Transfers
of Stock.

 

1.1                               Restrictions
on Transfers to Third Parties by any Stockholder. Subject to any
restrictions on transfer set forth in the Certificate of Incorporation of the
Company,  prior to the earlier of (a) the
closing of a Qualified Public Offering, or (b) a Change of Control of the
Company (such period, the “Restricted Period”), no shares of Stock or
any interest therein now or hereafter owned by any Stockholder may be
Transferred, except for any (i) Transfer to a Permitted Transferee
permitted under Section 1.2, (ii) sale to a third party pursuant to,
or otherwise permitted under, Section 1.3, (iii) involuntary Transfer
to a third party permitted under Section 1.3, (iv) sale to a third
party pursuant to Section 2, or (v) the pledge of Stock by Michael

 

 

G. Shook to KLI in connection with the promissory note of even date
herewith. The foregoing notwithstanding, no Stockholder shall be permitted to
Transfer any Stock pursuant to Section 1.2 or Section 1.3 hereof to
any Person that the Board determines in good faith to be a direct or indirect
competitor of the Company or an Affiliate of a direct or indirect competitor of
the Company.

 

1.2                               Permitted
Transferees. The Stockholders may Transfer any shares of Stock (i) with
the prior consent of the Board, which consent shall not be unreasonably
withheld, to (A) such Stockholder’s Affiliates, spouse, parents, lineal
descendants, or any other Person(s) approved by the Board, (B) a trust the
beneficiaries of which are such Stockholder, such Stockholder’s spouse,
parents, or lineal descendants, or any other Person(s) approved by the Board, (C) a
corporation the stockholders of which are only such Stockholder, such
Stockholder’s spouse, parents, or lineal descendants, or any other Person(s)
approved by the Board, (D) a limited partnership, the general partner of
which is (1) such Stockholder, such Stockholder’s spouse, parents, or
lineal descendants, or any other Person approved by the Board or (2) a
corporation, limited partnership or limited liability company, the majority of
the voting power of which is owned by such Stockholder, such Stockholder’s
spouse, parents, or lineal descendants, or any other Person(s) approved by the
Board, (E) a limited liability company, the majority of the voting power
of which is owned by such Stockholder, such Stockholder’s spouse, parents, or
lineal descendants, or any other Person(s) approved by the Board, or (F) in
the case of KLI, transfers of up to an aggregate of fifteen percent (15%) of
the shares of Stock issued to KLI in the Mergers to any of KLI’s investors; and
(ii) in case of such Stockholder’s death, by will or by the laws of
intestate succession to executors, administrators, testamentary trustees,
legatees or beneficiaries. In addition to the foregoing, any Permitted
Transferee of a Stockholder may Transfer shares of Stock back to such
transferring Stockholder or to another Permitted Transferee of such
transferring Stockholder, provided, however, that prior to any
Permitted Transferee ceasing to be a Permitted Transferee of the transferring
Stockholder, such Permitted Transferee shall be obligated to transfer such
Stock back to such transferring Stockholder or a Permitted Transferee of such
transferring Stockholder.

 

1.3                               Rights
of First Refusal.

 

(a)                                  Each
Stockholder may sell all or any portion of such Stockholder’s shares of
Stock to any third party who is not a Permitted Transferee or Involuntary
Transferee, provided that no such Stockholder may so sell any
shares of Stock to any such third party during the Restricted Period unless
such Stockholder shall first have complied with the provisions of this Section 1.3.

 

(b)                                 If
any of the Stockholders (for purposes of this Section 1.3, an “Offering
Stockholder”) shall have received a bona  fide offer or offers
from a third party or parties, other than a Permitted Transferee, to purchase
shares of Stock held by such Offering Stockholder as of the date hereof (other
than pursuant to a Qualified Public Offering), then prior to selling such
shares of Stock to such third party or parties, such Offering Stockholder shall
deliver to the Company a letter (the “Offer Letter”) signed by such
Offering Stockholder setting forth with respect to such Offering Stockholder
and third-party offeree(s) the following information:

 

2

 

(i)                                     the
name of such third party or parties, including with respect to a partnership or
corporation, the names of all general partners and all limited partners or stockholders
owning more than ten percent (10%) of any class of its partnership
interest, capital stock or voting power, as the case may be;

 

(ii)                                  the
prospective purchase price per share of Stock;

 

(iii)                               all
other material terms and conditions contained in the offer of such third party
or parties;

 

(iv)                              such
Offering Stockholder’s offer (irrevocable by its terms for sixty (60) days
following receipt) to sell to the Company all (but not less than all) of the
shares of Stock covered by the offer of the third party or parties (the “Offered
Stock”), for a purchase price per share of Stock, and on the same terms and
conditions contained in the offer of the third party or parties (the “Offer”);
and

 

(v)                                 closing
arrangements and a closing date (not less than sixty (60) nor more than ninety
(90) days following the date of such Offer Letter) for any purchase and sale
that may be effected by the Company or any of its assignees pursuant to
this Section 1.3.

 

For thirty (30) days following the receipt of the Offer Letter, the
Company shall have the right to purchase any or all of the Offered Stock for
the same price per share and on the same terms and conditions set forth in the
Offer.

 

If within thirty (30) days after receipt of the Offer Letter, the
Company has not elected to exercise its right of first refusal to purchase all
of the Offered Stock, the Company shall then cause to be delivered to each
Stockholder other than the Offering Stockholder (each, an “Other Stockholder”)
a copy of the Offer Letter. For thirty (30) days following the receipt of the
Offer Letter, the Other Stockholders shall have the right to purchase all, but
not less than all, of the Offered Stock not claimed for purchase by the Company
for the same price per share and on the same terms and conditions set forth in
the Offer. Each Other Stockholder may purchase the available Offered Stock
in the same proportion that the Stock owned by each Other Stockholder desiring
to purchase such Offered Stock bears to the total number of shares of Stock
owned by all Other Stockholders desiring to purchase the available Offered
Stock. Any amount of Offered Stock not so purchased by an Other Stockholder
entitled to purchase may be purchased by other Other Stockholders
proportionally to their ownership of Stock, and so on until all of the Offered
Stock has been purchased or until none of the Other Stockholders desire to
further purchase any Offered Stock.

 

(c)                                  If
the Company and/or the Other Stockholders collectively accept the Offer to
purchase all, but not less than all, of the Offered Stock, the closing of the
purchase and sale pursuant to such acceptance shall take place at the offices
of the Company on the date set forth in the Offer Letter, or at such other
place or on such other date as the applicable parties may agree or such
later date as may be necessary to obtain any required regulatory approvals.
If, upon the expiration of sixty (60) days following 

 

3

 

receipt by the
Company of the Offer Letter, less than all of the Offered Stock is claimed for
purchase by the Company and the Other Stockholders, the Offering Stockholder may sell
to such third party or parties all, but not less than all, of the Offered
Stock, for the purchase price and on the other terms and conditions contained
in such Offer. Prior to consummating any such sale, the Offering Stockholder
shall, upon request from the Company or an Offering Stockholder, provide the
Company and the Offering Stockholders with reasonable supporting documentation
with respect to the terms and conditions of any such sale to a third party so
as to demonstrate such Offering Stockholder’s compliance with the provisions of
the preceding sentence. If such sale has not been completed within ninety (90)
days after the date of the Offer Letter, the Offered Stock covered by such
Offer may not thereafter be sold by such Offering Stockholder unless the
procedures set forth in this Section 1.3 shall have again been complied
with.

 

1.4                               Involuntary
Transfers. Any Transfer of title or beneficial ownership of shares of Stock
upon default, foreclosure, forfeit, court order, or otherwise than by a
voluntary decision on the part of any Stockholder, other than any Transfer
upon death and other than a Transfer of title or beneficial ownership in accordance
with the terms of the pledge of Stock by Michael G. Shook to KLI in connection
with the promissory note of even date herewith (an “Involuntary Transfer”),
shall be void unless such Stockholder complies with this Section 1.4 and
enables the Company and all other Stockholders to exercise in full their rights
hereunder. Upon any Involuntary Transfer, the Company and the other
Stockholders shall have the right to purchase such shares pursuant to this Section 1.4
and the Person to whom such shares have been transferred (the “Involuntary
Transferee”) shall have the obligation to sell such shares in accordance
with this Section 1.4. Upon the Involuntary Transfer of any shares of
Stock, such Stockholder shall promptly (but in no event later than five days
after such Involuntary Transfer) furnish written notice to the Company and the
other Stockholders indicating that the Involuntary Transfer has occurred,
specifying the name of the Involuntary Transferee, giving a detailed
description of the circumstances giving rise to, and stating the legal basis
for, the Involuntary Transfer. Upon the receipt of such notice, and for thirty
(30) days thereafter, the Company shall have the right to purchase, and the
Involuntary Transferee shall have the obligation to sell, any or all of the
shares of Stock acquired by the Involuntary Transferee for a purchase price
equal to the Fair Market Value of such shares of Stock. If the Company fails to
exercise within such thirty (30) day period its rights hereunder to purchase
all of the shares of Stock acquired by the Involuntary Transferee, for a period
of thirty (30) days thereafter, the other Stockholders shall have the right to
purchase, and the Involuntary Transferee shall have the obligation to sell, any
of the shares of Stock acquired by the Involuntary Transferee not claimed for
purchase by the Company for a purchase price equal to the Fair Market Value of
such shares of Stock.

 

2.                                      Tag-Along
and Drag-Along Rights.

 

2.1                               Tag
Along Rights. During the Restricted Period, and  subject
to the prior right of first refusal set forth in Section 1.3, the sale of
any Stock by a Stockholder or a Permitted Transferee thereof made pursuant to Section 1.3
shall be subject to the tag-along right set forth in this Section 2.1. No
Stockholder (for purposes of this Section 2.1, the “Selling Stockholder”)
may Transfer any shares of Stock to any non-Affiliated third party (except
through a sale pursuant to a registered underwritten public offering) if such
shares, together with all shares of Stock previously Transferred by such
Selling Stockholder to third parties (except through a sale 

 

4

 

pursuant to an underwritten registered public
offering), would represent more than ten percent (10%) of the aggregate number
of shares of Stock held by the Selling Stockholder as of the date hereof, unless
each of the other Stockholders is offered the right, on a pro rata basis (based
on the number of shares of Stock owned by such Stockholder) to participate in
any such Transfer by selling to such non-Affiliated third party its pro rata
portion of Stock for a purchase price per share of Stock and on other terms and
conditions, not less favorable to such Stockholder than those applicable to the
Selling Stockholder.

 

2.2                               Drag
Along Rights.

 

(a)                                  During
the Restricted Period, if holders of shares of Stock that represent an
aggregate of eighty-six percent (86%) or more of the shares of the outstanding
Stock (the “Electing Stockholders”), propose to sell or otherwise
Transfer, shares of Stock that represents shares constituting  two-thirds  or more of
their aggregate shares of Stock to any third party in a bona fide arms-length
transaction (except through a sale pursuant to a Qualified Public Offering or
to an Affiliate or Affiliates of such Electing Stockholders) then, if requested
by the Electing Stockholders, each other holder of shares of Stock shall join
the Electing Stockholders in any such sale by selling the same percentage of
shares of Stock owned by such holder as are being sold by the Electing
Stockholders (the “Drag Percentage”) by complying fully with Section 2.2(b).
The material terms and conditions of such sale, including, without limitation,
the purchase price per share of Stock, shall be the same for all holders of
Stock.

 

(b)                                 Each
Stockholder who is required to join the Electing Stockholders in a sale
pursuant to Section 2.2(a) shall, at the request of the Electing
Stockholders, (i) Transfer, upon receipt of the purchase price therefor,
such Stockholder’s Drag Percentage to any third party purchaser or purchasers
free and clear of all security interests, liens, claims or encumbrances, (ii) execute
and deliver any agreement being executed and delivered by the Electing
Stockholders (on no less favorable terms than the one being signed by the
Electing Stockholders); provided that such Stockholder shall only be required
to make representations and warranties relating exclusively to such Stockholder’s
ownership and title to its shares of such transaction; and provided, further,
that no Stockholders shall be required to provide indemnification by such
Stockholder, in the aggregate, in an amount that is in excess of the lesser of (A) its
pro rata portion of the related liability or (B) the purchase price to be
received by such Stockholder in such sale, except in the case of such
Stockholder’s fraudulent acts, or intentional misrepresentations; (iii) vote
in favor of any such transaction of which the Electing Stockholders have voted
in favor and (iv) execute and deliver such instruments of conveyance and
assignment and take such other actions as reasonably requested by the Electing
Stockholders (and on terms no less favorable than those executed and delivered
by the Electing Stockholders) in order to consummate such transaction.

 

3.                                      Lock-Up.

 

In the event of a registered offering of the Company’s securities and
upon request of the Company or the underwriters managing any underwritten
offering of the Company’s securities, the Stockholders agree not to directly or
indirectly sell, offer to sell, contract to sell, make any

 

5

 

short sale of, loan, grant any option for the
purchase of, or otherwise dispose of any shares of Stock (other than those
included in the registration), without the prior written consent of the Company
or such underwriters, as the case may be, for such period of time (not to
exceed 180  days) from the effective date of such
registration as may be requested by the Company or such managing
underwriters (the “Lock-Up Period”). The foregoing restriction has been
expressly agreed to preclude the Stockholders from engaging in any hedging or
other transaction which is designed to or reasonably expected to lead to or
result in a Transfer of Stock during the Lock-Up Period, even if such Stock
would be disposed of by someone other than such Stockholder. Such prohibited
hedging or other transactions would include, without limitation, any short sale
(whether or not against the box) or any purchase, sale or grant of any right (including,
without limitation, any put or call option) with respect to any Stock or with
respect to any security (other than a broad-based market basket or index) that
included, relates to or derives any significant part of its value from the
Stock.

 

4.                                      Voting
Agreements and Company Covenant.

 

4.1                               Until
the closing of a Qualified Public Offering, each Stockholder agrees to vote, or
cause to be voted, all shares of Stock owned by such Stockholder, or over which
such Stockholder has voting control, from time to time and at all times, in
whatever manner as shall be necessary to ensure that the size of the Board
shall be set and remain at nine (9) directors and that the Board shall be
evenly divided in three (3) separate classes of directors (“Class I
Directors,” who shall serve until the 2007 annual meeting of stockholders and
thereafter be elected for terms of three years; “Class II Directors,” who
shall serve until the 2008 annual meeting of stockholders and thereafter be
elected for terms of three years; and “Class III Directors,” who shall
serve until the 2009 annual meeting of stockholders and thereafter be elected
for terms of three years) as set forth in the Certificate of Incorporation of
the Company, as amended to date (the “Certificate of Incorporation”).

 

4.2                               Until
the closing of a Qualified Public Offering:

 

(a) so long as KLI
continues to hold at least 65% of Stock issued to KLI in the Mergers (as
adjusted for any stock splits, stock dividends, recapitalizations and the
like), KLI may designate for nomination and election six directors, two (2) of
whom shall be Class I Directors, two (2) of whom shall be Class II
Directors and two (2) of whom shall be Class III Directors (the
directors so designated, the “KLI Directors;” effective as of the Closing of the
Mergers, the KLI Directors serving as Class I Directors shall be Justin
Beckett and Jon A. Turner, the KLI Directors serving as Class II Directors
shall be Bernard R. Wilson and Connie I. Roverto, and the KLI Directors serving
as Class III Directors shall be Nana Baffour and Johnson Kachidza);

 

(b) so long as the
Significant Stockholders, in the aggregate, continue to hold at least 65% of
Stock issued to the Significant Stockholders in Mergers (as adjusted for any
stock splits, stock dividends, recapitalizations and the like), the Significant
Stockholders shall designate for nomination and election two directors, one (i) of
whom shall be a Class II Director, and one (1) of whom shall be a Class III
Director (the directors so designated, the “Significant Stockholder Directors;”
effective as of the Closing of the

 

6

 

Mergers, the
Significant Stockholder Directors shall be Michael G. Shook (who shall be the Class III
Director) and William M. Shook (who shall be the Class II Director)); and

 

(c) so long as KLI
and the Significant Stockholders continue to hold the requisite number of
shares of Stock described in clauses (a) and (b) above, KLI and the
Significant Stockholders, acting as a group, shall mutually designate for
nomination and election one director (such director to be a Class I
Director and to be reasonably acceptable to KLI and the Significant Stockholder
Directors then in office (or if no such Significant Stockholder Directors are
then in office, by the holders of a majority of the outstanding shares of Stock
then held by all Significant Stockholders); effective as of the Closing of the
Mergers, such director shall be John E. Paget).

 

To the extent that any of clauses (a) through (c) above shall
not be applicable, any member of the Board who would otherwise have been
designated in accordance with the terms thereof shall instead be voted upon by all the stockholders of the
Company entitled to vote thereon in accordance with, and pursuant to, the
Company’s Certificate of Incorporation. So long as KLI retains the right
to designate the KLI Directors, the KLI Directors may be changed from time
to time by KLI. So long as the Significant Stockholders retain the right to
designate the Significant Stockholder Directors, and so long as each of Michael
G. Shook and William M. Shook are willing and able to serve as a director of
the Company, (i) each of Michael G. Shook and William M. Shook shall be
designated for nomination and election as the Significant Stockholder
Directors, and (ii) subject to applicable stock exchange rules, securities
laws and corporate governance policies adopted by the Board in consultation
with counsel, Michael G. Shook shall be appointed as member of each committee
of the Board. Subject to the foregoing, so long as the Significant Stockholders
retain the right to designate the Significant Stockholder Directors, the
Significant Stockholder Directors may be changed from time to time by the
Significant Stockholders.

 

4.3                               In
order to effectuate Sections 4.1 and 4.2, until the closing of a Qualified
Pubic Offering, each Stockholder (i) agrees to vote, or cause to be voted,
all shares of Stock of the Company owned by such Stockholder, or over which
such Stockholder has voting control, from time to time and at all times, in
whatever manner as shall be necessary to ensure that the size and composition
of the Board shall be in accordance with Sections 4.1 and 4.2, and (ii) hereby
grants to the Secretary of the Company an irrevocable proxy pursuant to Section 212(e) of
the General Corporation Law of the State of Delaware, coupled with an interest,
solely for the purpose of voting all of the shares of Stock of the Company
owned by the grantor of the proxy for the election of directors nominated in
accordance with Section 4.1. Each Stockholder agrees to take any further
actions necessary to effectuate Section 4.1, including, without
limitation, the calling of a special meeting of the Stockholders in order to
nominate and elect directors as set forth in Section 4.1. The Secretary of
the Company will exercise such proxy to give effect to this Section 4.1,
if necessary.

 

4.4                               The
Company covenants and agrees that, prior to the closing of a Qualified Pubic
Offering, it shall not, without the prior unanimous approval of the Board of
Directors, issue, or enter into or approve any agreement relating to the
issuance of, any shares of the preferred stock authorized under the Company’s
Certificate of Incorporation or any security or obligation convertible into or
exercisable for such preferred stock.

 

7

 

5.                                      Stock
Certificate Legends.

 

A copy of this Agreement shall be filed with the Secretary of the
Company and kept with the records of the Company. Each certificate representing
shares of Stock owned by the Stockholders shall bear the legend set forth in
subsection 5(b), and, if required by law, the legend set forth in subsection 5(a):

 

(a)                                  THE
SHARES EVIDENCED BY THIS CERTIFICATE HAVE BEEN ACQUIRED FOR INVESTMENT AND HAVE
NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED,
OR THE SECURITIES ACTS OF ANY OTHER STATE OR COUNTRY AND MAY NOT BE
OFFERED, SOLD, ASSIGNED, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS
AND UNTIL REGISTERED UNDER ANY APPLICABLE SECURITIES LAWS OR UNLESS SUCH OFFER,
SALE, ASSIGNMENT, PLEDGE, HYPOTHECATION, TRANSFER OR OTHER DISPOSITION IS
EXEMPT FROM REGISTRATION OR IS OTHERWISE IN COMPLIANCE WITH SUCH LAWS.

 

(b)                                 THE
SHARES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO RESTRICTIONS ON TRANSFER,
AND OTHER CONDITIONS AND RESTRICTIONS, AS SPECIFIED IN THE STOCKHOLDERS
AGREEMENT OF THE COMPANY, DATED AS OF JANUARY     ,
2006, AS THE SAME MAY BE AMENDED FROM TIME TO TIME, COPIES OF WHICH ARE ON
FILE AT THE OFFICE OF THE COMPANY AND WILL BE FURNISHED WITHOUT CHARGE TO THE
STOCKHOLDER OF SUCH SHARES UPON WRITTEN REQUEST.

 

In addition, certificates representing shares of Stock owned by
residents of certain States shall bear any legends required by the laws of such
States. All Stockholders shall be bound by the requirements of such legends to
the extent that such legends are applicable. Upon a registration of any shares
of Stock, the certificate representing such shares shall be replaced, at the
expense of the Company, with certificates not bearing the legends required by
this Section 5. Upon the closing of a Qualified Public Offering,
certificates representing shares of Stock shall be replaced, at the expense of
the Company, with certificates not bearing the legends required by Section 5(b).

 

6.                                      No
Other Arrangements or Agreements.

 

Except for agreements by KLI to transfer stock to its investors from
time to time, each of the Stockholders hereby represents and warrants to the
Company that such Stockholder has not entered into or agreed to be bound by any
other arrangements or agreements of any kind with any other Person (other than
the Company) with respect to his or her shares of Stock, or any interest
therein, including, but not limited to, arrangements, trusts or agreements with
respect to the acquisition, disposition or voting of shares of Stock (whether
or not such agreements and arrangements are with the Company, other
Stockholders or other Persons). Except for agreements by KLI to transfer stock
to its investors from time to time, each of the Stockholders agrees with the
Company and the other Stockholders that such Stockholder (as the case may be)
will not be a party to or enter into any such other arrangements or agreements
as described above with any other Person or grant a proxy or power of attorney
with respect to the Stock, in either

 

8

 

case, which is inconsistent with the
Stockholder’s obligations pursuant to this Agreement as long as any of the
terms of this Agreement remain in effect without the Requisite Consent.

 

7.                                      Amendment
and Modification.

 

This Agreement may be amended, modified or supplemented only upon
receipt of the Requisite Consent. The Company shall notify all Stockholders
promptly after any such amendment, modification or supplement shall take
effect.

 

8.                                      Assignment.

 

8.1                               Assignment
Generally. The provisions of this Agreement shall be binding upon and inure
to the benefit of the parties hereto and their respective heirs, legal
representatives, successors and assigns, provided that, except in connection
with Transfers explicitly permitted hereunder), neither the Company, nor any
Stockholder shall assign any of its rights pursuant to this Agreement without
the Requisite Consent.

 

8.2                               Agreements
to be Bound. Notwithstanding anything to the contrary contained in this
Agreement, any Transfer by the Stockholders to any Permitted Transferee (other
than a transfer by KLI to any of its investors) or other third party (whether
or not such third party is Affiliated with such transferor), or any Involuntary
Transfer to an Involuntary Transferee, shall be permitted under the terms of
this Agreement only if such Permitted Transferee, third party, or Involuntary
Transferee, as the case may be, shall execute and deliver to the Company
an Agreement to be Bound to this Agreement in substantially the form of Exhibit B
hereto. Upon the execution of such instrument by such third party, such third
party shall be deemed to be a Stockholder for all purposes of this Agreement,
subject to the same obligations as the Stockholders.

 

9.                                      Termination.

 

9.1                               Termination
Generally. Any party to, or Person who is subject to, this Agreement who
ceases to own any shares of Stock or any interest therein in accordance with
the terms of this Agreement shall cease to be a party to, or Person who is
subject to, this Agreement and thereafter shall have no rights or obligations
hereunder, provided that any Transfer of shares of Stock by any
Stockholder in breach of this Agreement shall not relieve such Stockholder of
liability for any such breach.

 

9.2                               Termination
of Rights and Obligations. All rights and obligations pursuant to this
Agreement, except for obligations that terminate earlier by their terms, shall
terminate upon the date on which the Stockholders all no longer own any Stock.

 

10.                               Recapitalization,
Exchanges, etc. Affecting the Stock.

 

The provisions of this Agreement shall apply to any and all shares of
capital stock of the Company or any successor or assignee of the Company
(whether by merger, consolidation, sale of assets or otherwise) which may be
issued in respect of, in exchange for, or in substitution for the shares of
Stock, by reason of any stock dividend, split, reverse split, combination,

 

9

 

recapitalization, reclassification, merger,
consolidation, or otherwise in such a manner as to reflect the intent and
meaning of the provisions hereof.

 

11.                               No
Third Party Beneficiaries.

 

Except as otherwise provided herein, this Agreement is not intended to
confer upon any Person, except for the parties hereto, any rights or remedies
hereunder.

 

12.                               Transfer
of Stock.

 

If at any time the Company or any of the Stockholders purchases any
shares of Stock pursuant to this Agreement, the Company or such Stockholders may pay
the purchase price determined under this Agreement for the shares of Stock it
purchases by wire transfer of funds or bank check in the amount of the purchase
price, and upon receipt of payment of such purchase price, the selling
Stockholder shall deliver the certificates representing the number of shares of
Stock being purchased in a form suitable for transfer, duly endorsed in
blank, and free and clear of any lien, claim or encumbrance. Notwithstanding
anything in this Agreement to the contrary, neither the Company nor any
Stockholders shall be required to make any payment for shares of Stock
purchased hereunder until delivery to it of the certificates representing such
shares. If the Company or Stockholders are purchasing less than all the shares
of Stock represented by a single certificate, the Company or Stockholders shall
deliver to the selling Stockholder a certificate for any unpurchased shares of
Stock.

 

13.                               Further
Assurances.

 

Each party hereto shall do and perform or cause to be done and
performed all such further acts and things and shall execute and deliver all
such other agreements, certificates, instruments and documents as any other
party hereto or Person subject hereto may reasonably request in order to
carry out the intent and accomplish the purposes of this Agreement and the
consummation of the transactions contemplated hereby.

 

14.                               Governing
Law.

 

This Agreement and the rights and obligations of the parties hereunder
shall be governed by, and construed and interpreted in accordance with, the
laws of the State of Delaware, without giving effect to the choice of law
principles thereof.

 

15.                               Invalidity
of Provision.

 

The invalidity or unenforceability of any provision of this Agreement
in any jurisdiction shall not affect the validity or enforceability of the
remainder of this Agreement in that jurisdiction or the validity or
enforceability of this Agreement, including that provision, in any other
jurisdiction.

 

16.                               Notices.

 

All notices, requests, demands, waivers and other communications
required or permitted to be given under this Agreement shall be in writing and
shall be deemed to have been duly

 

10

 

given if (a) delivered personally, (b) mailed,
certified or registered mail with postage prepaid, (c) sent by next-day or
overnight mail or delivery or (d) sent by facsimile as follows:

 

	
   

  	
  if to the Company:

  	
   

  	
  301 Gregson Drive

  
	
   

  	
   

  	
   

  	
  Cary, North Carolina 27511

  
	
   

  	
   

  	
   

  	
  Attn: Chief Executive Officer

  
	
   

  	
   

  	
   

  	
  Facsimile No.: (919) 379-8000

  
	
   

  	
   

  	
   

  	
  Telephone No.: (919) 379-8100

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  with a copy to:

  	
   

  	
  Greenberg Traurig, LLP

  
	
  (which shall not constitute notice)

  	
   

  	
  3290 Northside Parkway, Suite 400

  
	
   

  	
   

  	
   

  	
  Atlanta, Georgia 30327

  
	
   

  	
   

  	
   

  	
  Attn: Theodore I. Blum, Esq.

  
	
   

  	
   

  	
   

  	
  Facsimile No.: (678) 553-2621

  
	
   

  	
   

  	
   

  	
  Telephone No.: (678) 553-2620

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  If to any Stockholder:

  	
   

  	
  to his address or his facsimile number as
  listed on the signature page.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  If to any other Person who becomes a
  Stockholder after the date hereof:

  	
   

  	
  to its address or facsimile number set
  forth in the counterpart of this Agreement executed and delivered by
  such Stockholder pursuant to Sections 8.1 or 8.2;

  

 

or to such other Person or address as any
party shall specify by notice in writing to the Company. All such notices,
requests, demands, waivers and other communications shall be deemed to have
been received (w) if by personal delivery on the day after such delivery, (x)
if by certified or registered mail, on the seventh business day after the
mailing thereof, (y) if by next-day or overnight mail or delivery, on the day
delivered, (z) if by facsimile on the next day following the day on which such
telecopy was sent, provided that a copy is also sent by certified or registered
mail.

 

17.                               Defined
Terms.

 

As used in this Agreement, the following terms shall have the meanings
ascribed to them below:

 

(a)                                  Affiliate.
The term “Affiliate” means, with respect to any Person, (i) any other
Person directly or indirectly, through one or more intermediaries, controlling,
controlled by, or under common control with such Person and (ii) any
Person directly or indirectly owning or controlling 10% or more of the
outstanding voting securities of such Person.

 

(b)                                 Board. The term
“Board” means the Board of Directors of the Company.

 

(c)                                  Change
of Control. The term “Change of Control” shall mean (i) the sale of
all or substantially all of the assets of the Company, (ii) the merger or
consolidation of

 

11

 

the Company with
or into any other Person whereafter the Stockholders of the Company immediately
prior to such transaction fail to own 50% or more of the voting power of the
surviving Person or (iii) the sale (whether through one sale or multiple
sales to a single Person or group of related Persons during any period of time
after the date hereof) by the stockholders of the Company (as of the closing
date of the Mergers) of an aggregate of 50% or more of the capital stock (by
voting power) of the Company owned by such stockholders in the aggregate (as of
the closing date of the Mergers).

 

(d)                                 Fair
Market Value. The term “Fair Market Value” shall mean with respect to any
share of Stock, the per share price at which the Company last sold a share of
such class or series of Stock in an equity raising transaction;
provided, however, that if the Company has not sold any shares of such class or
series of Stock within the six month period immediately preceding the date
on which the Fair Market Value of such Stock is to be made, then the Fair
Market Value of such share of Stock shall be (i) as unanimously agreed by
the Board, or (ii) as determined by an independent valuation firm of
national standing that is reasonably acceptable to all members of the Board.

 

(e)                                  Permitted
Transferee. The term “Permitted Transferee” means any transferee permitted
under Section 1.2.

 

(f)                                    Person.
The term “Person” means an individual, corporation, partnership, limited
liability company, association, trust or other entity or organization,
including a government or political subdivision or an agency or instrumentality
thereof.

 

(g)                                 Qualified
Public Offering. The term “Qualified Public Offering” shall mean the
initial offer and sale of shares of the Company’s Stock pursuant to a
registration statement filed and made effective pursuant to the [rules of
the Toronto Stock Exchange or other national stock exchange] which shall be a
best efforts commitment public offering of the Company’s Stock by a major
bracket underwriter resulting in net proceeds to the Company of Ten Million
Dollars ($10,000,000) or more.

 

(h)                                 Requisite
Consent. The term “Requisite Consent” shall mean the prior written approval
of Stockholders holding at least eighty-six percent (86%) of the shares of
Stock then owned by all Stockholders.

 

(i)                                     Stock.
The term “Stock” the common stock of the Company, par value $0.000001 per
share.

 

(j)                                     Stockholders.
The term “Stockholders” means those stockholders listed as Stockholders on the
signature pages hereto and those other stockholders of the Company who
become a party to this Agreement pursuant to Section 8.1 hereof.

 

(k)                                  Transfer.
The term “Transfer” means any direct or indirect sale, assignment, mortgage,
transfer, pledge, hypothecation or other disposition or transfer.

 

12

 

22.                               Headings;
Execution in Counterparts.

 

The headings and captions contained herein are for convenience and
shall not control or affect the meaning or construction of any provision hereof.
This Agreement may be executed in any number of counterparts, each of
which shall be deemed to be an original and which together shall constitute one
and the same instrument.

 

23.                               Entire
Agreement.

 

This Agreement embodies the entire agreement and understanding of the
parties hereto in respect of the subject matter contained herein and supersedes
all prior agreements and understandings among the parties with respect to such
subject matter.

 

24.                               Injunctive
Relief.

 

The shares of Stock cannot readily be purchased or sold in the open
market, and for that reason, among others, the Company and Stockholders will be
irreparably damaged in the event this Agreement is not specifically enforced. Each
of the parties therefore agrees that in the event of a breach of any provision
of this Agreement the aggrieved party may elect to institute and prosecute
proceedings in any court of competent jurisdiction to enforce specific
performance or to enjoin the continuing breach of this Agreement. Such remedies
shall, however, be cumulative and not exclusive, and shall be in addition to
any other remedy which the Company or any Stockholder may have. Each
Stockholder hereby irrevocably submits to the non-exclusive jurisdiction of the
state and federal courts in [New York, New York] for the purposes of any suit,
action or other proceeding arising out of or based upon this Agreement or the
subject matter hereof. Each Stockholder hereby consents to service of process
by mail made in accordance with Section 16.

 

[Signature Page Follows]

 

13

 

IN WITNESS WHEREOF, this Agreement has been
signed by each of the parties hereto as of the date first above written.

 

 

	
   

  	
   

  	
  COMPANY

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  CONSONUS TECHNOLOGIES, INC.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/Michael G. Shook

  	
   

  
	
   

  	
   

  	
   

  	
   Michael
  G. Shook, Chief Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  STOCKHOLDERS

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  KNOX LAWRENCE INTERNATIONAL, LLC

  
	
   

  	
   

  	
   

  
	
  Knox Lawrence International, LLC

  	
   

  	
   

  
	
  445 Park Avenue, 20th Floor

  	
   

  	
  By:

  	
  /s/Nana
  Baffour

  	
   

  
	
  New York, NY 10022

  	
   

  	
   

  	
  Nana Baffour, Managing Principal

  
	
  Attn: Chairman

  	
   

  	
   

  
	
  Facsimile No.: (212) 792-0958

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  107 Avenue of the Estates

  	
   

  	
  /s/Michael
  G. Shook

  	
   

  
	
  Cary, NC 27511

  	
   

  	
  Michael G. Shook

  
	
  Facsimile No.:
  (     )

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  316 Stanley Drive 

  	
   

  	
  /s/Irvin
  Miglietta

  	
   

  
	
  Glastonbury, CT 06033

  	
   

  	
  Irvin Miglietta

  
	
  Facsimile No.:
  (      )

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
                             
                                    
  

  	
   

  	
  /s/Thomas
  Colleary

  	
   

  
	
                                         

  	
   

  	
  Thomas Colleary

  
	
                                         

  	
   

  	
   

  
	
  Facsimile No.:
  (     )                        

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  116 Bosswood Ct.

  	
   

  	
  /s/William
  M. Shook

  	
   

  
	
  Cary, NC 27511

  	
   

  	
  William M. Shook

  
	
  Facsimile No.:
  (        )

  	
   

  	
   

  
							

 

[Signature Page to
Consonus Technologies, Inc. Stockholders Agreement]

 

 

EXHIBIT A

SIGNIFICANT
STOCKHOLDERS

 

	
  Name

  	
   

  	
  Shares Owned

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Michael G.
  Shook

  	
   

  	
  387,910

  	
   

  
	
  Irvin
  Miglietta

  	
   

  	
  276,297

  	
   

  
	
  Thomas
  Colleary

  	
   

  	
  105,256

  	
   

  
	
  William M.
  Shook

  	
   

  	
  104,803

  	
   

  

 

 

EXHIBIT B

FORM OF
AGREEMENT TO BE BOUND

 

The undersigned hereby joins in and signifies adoption of and agreement
to be bound, as a Stockholder, by the terms and conditions of the Stockholders
Agreement of Consonus Technologies, Inc.
(the “Company”), dated January     , 2007 and
all amendments thereto (the “Stockholders Agreement”), and authorizes
the attachment of this signature page to a duplicate original of the
Stockholders Agreement.

 

The undersigned acknowledges receipt of a copy of the Stockholders
Agreement and all amendments thereto. The undersigned acknowledges that he
(she) has read such Stockholders Agreement and all amendments thereto and
understands that by signing this document, he (she) shall thereby assume all of
the duties and obligations of a Stockholder thereunder.

 

Capitalized terms used herein have the meanings set forth in the
Stockholders Agreement.

 

	
  Dated:

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (Signature)

  
	
   

  	
   

  	
   

  
	
  Number of Shares held:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (print name)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (address)

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00122-of-00352.parquet"}]]