Document:

Exhibit 10.17

AMENDED
AND RESTATED

SECURITIES PURCHASE AGREEMENT

 

THIS AMENDED AND RESTATED SECURITIES
PURCHASE AGREEMENT (this “Agreement”) is made as of
April 13, 2006, by and between Solera Holdings, LLC, a Delaware limited
liability company (the “Company”), and Garen Staglin (“Purchaser”).

 

On April 11, 2005, pursuant to the Securities Purchase
Agreement, dated as of April 11, 2005, by and between the Company and Purchaser
(the “Prior Securities Purchase Agreement”), Purchaser purchased from
the Company (i) 216,589 of the Company’s Class A Common Units (as defined
below) and (ii) 2.379 of the Company’s Class B Preferred Units (as defined
below). On the date hereof, pursuant to the terms and conditions of this
Agreement, Purchaser will purchase from the Company (i) 23,622 Class A Common
Units and (ii) 223.600 Class B Preferred Units. All Class A Common Units and
Class B Preferred Units owned by Purchaser or acquired by Purchaser pursuant to
this Agreement or the Prior Securities Purchase Agreement are referred to
herein as “Securities.”  Certain
definitions are set forth in Section 8 of this Agreement.

 

The Company and Purchaser desire to amend and restate
the Prior Securities Purchase Agreement in its entirety. Certain provisions of
this Agreement are intended for the benefit of, and will be enforceable by, the
Investors (as defined below).

 

NOW, THEREFORE, in consideration of the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to the
Prior Securities Purchase Agreement hereby agree to amend and restate the Prior
Securities Purchase Agreement in its entirety as follows and all parties hereto
hereby agree as follows:

 

PROVISIONS RELATING TO SECURITIES

 

1.             Purchase and Sale
of Securities.

 

(a)           Pursuant
to the Prior Securities Purchase Agreement, on April 11, 2005, Purchaser
purchased, and the Company sold, (i) 216,589 Class A Common Units and (ii)
2.379 Class B Preferred Units. On such date, the Company delivered to Purchaser
a copy of the certificates evidencing such Securities, and Purchaser delivered
to Solera, Inc., for the benefit of the Company, a cashier’s or certified check
or wire transfer of immediately available funds in an aggregate amount equal to
$24,037.50 as payment for such Securities.

 

(b)           Upon
the execution of this Agreement, Purchaser will purchase, and the Company will
sell, (i) 23,622 Class A Common Units  at
a price of $0.10 per unit and (ii) 223.600 Class B Preferred Units at a price
of $1,000.00 per unit. On the date hereof, the Company will deliver to
Purchaser copies of the certificates representing such Securities, and
Purchaser will deliver to the Company a cashier’s or certified check or wire
transfer of immediately available funds in an aggregate amount equal to
$225,962.50 as payment for such Securities. Following such purchase of Class A
Common Units and Class B Preferred Units, Purchaser will own the following
Securities: (i) 146,053 Class A Common Units, which units

 

 

shall be referred to herein as the “Carried Common
Units”; (ii) 94,158 Class A Common Units, which units shall be referred to
herein as the “Co-Invest Common Units”; and (iii) 225.979 Class B
Preferred Units. The Co-Invest Common Units, together with the Class B Preferred
Units acquired by Purchaser pursuant to the Prior Securities Purchase Agreement
and/or hereunder, shall be referred to herein as the “Co-Invest Units”.

 

(c)           On
April 22, 2005, Purchaser made an effective election with the Internal Revenue
Service under Section 83(b) of the Internal Revenue Code and the
regulations promulgated thereunder in the form of Exhibit A
attached to the Prior Securities Purchase Agreement. Within 30 days after the
purchase of any Carried Common Units hereunder (including, without limitation,
upon the execution hereof), Purchaser will make an effective election with the
Internal Revenue Service under Section 83(b) of the Internal Revenue Code
and the regulations promulgated thereunder in the form of Exhibit A
attached hereto.

 

(d)           Until
released upon the occurrence of a Sale of the Company or a Public Offering as
provided below, all certificates evidencing Securities shall be held by the
Company for the benefit of Purchaser and the other holder(s) of Securities. Upon
the occurrence of a Sale of the Company, the Company will return all
certificates in its possession evidencing Securities to the record holders
thereof. Upon the consummation of a Public Offering, the Company will return to
the record holders thereof certificates in its possession evidencing the
Co-Invest Units and the Vested Carried Common Units (as defined below).

 

(e)           In
connection with the purchase and sale of the Securities, Purchaser represents
and warrants to the Company that:

 

(i)            The
Securities to be acquired by Purchaser pursuant to this Agreement will be
acquired for Purchaser’s own account and not with a view to, or intention of,
distribution thereof in violation of the Securities Act, or any applicable
state securities laws, and the Securities will not be disposed of in
contravention of the Securities Act or any applicable state securities laws.

 

(ii)           Purchaser
is sophisticated in financial matters and is able to evaluate the risks and
benefits of the investment in the Securities.

 

(iii)          Purchaser is an “accredited investor” within
the meaning of Rule 501 of Regulation D of the Securities and Exchange
Commission.

 

(iv)          Purchaser
is able to bear the economic risk of his investment in the Securities for an
indefinite period of time because the Securities have not been registered under
the Securities Act and, therefore, cannot be sold unless subsequently
registered under the Securities Act or an exemption from such registration is
available.

 

(v)           Purchaser
has had an opportunity to ask questions and receive answers concerning the
terms and conditions of the offering of Securities and has had full access to
such other information concerning the Company as he has requested.

 

(vi)          This
Agreement constitutes the legal, valid and binding obligation of Purchaser,
enforceable in accordance with its terms, and the execution, delivery and 

 

2

 

performance of
this Agreement by Purchaser does not and will not conflict with, violate or
cause a breach of any agreement, contract or instrument to which Purchaser is a
party or any judgment, order or decree to which Purchaser is subject.

 

(vii)         Purchaser is a resident of the State of
California.

 

(f)            As
an inducement to the Company to issue the Securities to Purchaser, and as a condition
thereto, Purchaser acknowledges and agrees that neither the issuance of the
Securities to Purchaser nor any provision contained in this Section 1
shall entitle Purchaser to serve as a manager of the Company or a director of
any of its Subsidiaries or affect the right of the Investors to remove
Purchaser as a manager of the Company or a director of any of its Subsidiaries
for any reason.

 

(g)           In
accordance with the terms of the Prior Securities Purchase Agreement, Purchaser
has executed in blank ten security transfer powers (the “Security Powers”)
with respect to the Securities acquired pursuant to the Prior Securities
Purchase Agreement and has delivered such Security Powers to the Company. Concurrently
with the execution of this Agreement, Purchaser shall execute in blank ten
Security Powers in the form of Exhibit B attached hereto with respect to
the Securities and shall deliver such Security Powers to the Company. The
Security Powers shall authorize the Company to assign, transfer and deliver the
Securities to the appropriate acquiror thereof pursuant to Section 3
below or Section 4 of the Securityholders Agreement and under no other
circumstances.

 

(h) In accordance with the terms of the Prior
Securities Purchase Agreement, Purchaser’s spouse executed a Spousal Consent
with respect to the Securities acquired pursuant to the Prior Securities
Purchase Agreement. Concurrently with the execution of this Agreement, if
Purchaser is lawfully married, Purchaser’s spouse shall execute the Consent in
the form of Exhibit C attached hereto.

 

(i)            On
April 11, 2005, Purchaser shall became a party to the LLC Agreement and a party
to the Securityholders Agreement and the Registration Agreement, in each case,
in the capacity of an Other Securityholder.

 

2.             Vesting of Carried
Common Units.

 

(a)           The
Co-Invest Units shall be fully vested upon the execution of this Agreement. The
Carried Common Units shall be subject to vesting in the manner specified in
this Section 2.

 

(b)           Except
as otherwise provided in this Section 2, the Carried Common Units shall
become vested, in accordance with the following schedule, if as of each such
date Purchaser continues to serve as a manager of the Company and/or a director
of any of its Subsidiaries:

 

3

 

	
  Date

  	
   

  	
  Cumulative

  Percentage of Carried Common

  Units Vested

  	
   

  
	
  April 11, 2006

  	
   

  	
  20.00

  	
  %

  
	
  June 30, 2006

  	
   

  	
  25.00

  	
  %

  
	
  September 30, 2006

  	
   

  	
  30.00

  	
  %

  
	
  December 31, 2006

  	
   

  	
  35.00

  	
  %

  
	
  March 31, 2007

  	
   

  	
  40.00

  	
  %

  
	
  June 30, 2007

  	
   

  	
  45.00

  	
  %

  
	
  September 30, 2007

  	
   

  	
  50.00

  	
  %

  
	
  December 31, 2007

  	
   

  	
  55.00

  	
  %

  
	
  March 31, 2008

  	
   

  	
  60.00

  	
  %

  
	
  June 30, 2008

  	
   

  	
  65.00

  	
  %

  
	
  September 30, 2008

  	
   

  	
  70.00

  	
  %

  
	
  December 31, 2008

  	
   

  	
  75.00

  	
  %

  
	
  March 31, 2009

  	
   

  	
  80.00

  	
  %

  
	
  June 30, 2009

  	
   

  	
  85.00

  	
  %

  
	
  September 30, 2009

  	
   

  	
  90.00

  	
  %

  
	
  December 31, 2009

  	
   

  	
  95.00

  	
  %

  
	
  March 31, 2010

  	
   

  	
  100.00

  	
  %

  

 

(c)           Upon
the occurrence of a Sale of the Company, all Carried Common Units which have
not yet become vested shall become vested as of the date of consummation of the
Sale of the Company, if, as of such date, Purchaser has continuously served as
a manager of the Company and/or a director of any of its Subsidiaries from the
date of this Agreement through and including such date.

 

(d)           Carried
Common Units that have become vested (“Vested Carried Common Units”) and
the Co-Invest Units that are Class A Common Units are referred to herein as “Vested
Common Units.”  The Vested Common
Units and the Class B Preferred Units are collectively referred to herein as “Vested
Units.”  All Carried Common Units
that have not vested are referred to herein as “Unvested Carried Common
Units.”

 

3.             Repurchase Option.

 

(a)           In
the event of a Separation, the Securities (whether vested or unvested and
whether held by Purchaser or one or more of Purchaser’s transferees, other than
the Company and the Investors) will be subject to repurchase, in each case by
the Company and the Investors pursuant to the terms and conditions set forth in
this Section 3 (the “Repurchase Option”). The Company may
assign its repurchase rights set forth in this Section 3 to any Person; provided
that if there is a Subsidiary Public Offering and the securities of such
Subsidiary are distributed to the members of the Company, then such Subsidiary
will be treated as the Company for purposes of this Section 3 with
respect to any repurchase of the securities of such Subsidiary.

 

(b)           In
the event of a Separation, (i) the purchase price for each Unvested Carried
Common Unit will be the lesser of (A) Purchaser’s Original Cost for such unit
and (B) the Fair Market Value of such unit as of the delivery date of the
Repurchase Notice or Supplemental

 

4

 

Repurchase Notice, as the case may be, in either case
first delivered pursuant to Section 3(c) and (ii) the purchase price for
each Vested Carried Common Unit and Co-Invest Unit will be the Fair Market
Value of such unit as of the delivery date of the Repurchase Notice or
Supplemental Repurchase Notice, as the case may be, in either case delivered
pursuant to Section 3(c); provided, however, that if Purchaser’s
service as a manager of the Company or a director of any of its Subsidiaries is
terminated with Cause, the purchase price for each Vested Carried Common Unit
will be the lesser of (A) Purchaser’s Original Cost for such unit and (B) the
Fair Market Value of such unit as of the delivery date of the Repurchase Notice
or Supplemental Repurchase Notice, as the case may be.

 

(c)           In
the event of a Separation, the Company (with the approval of the Board) may
elect to purchase all or any portion of the Securities pursuant to this Section
3 by delivering written notice (the “Repurchase Notice”) to the
holder or holders of such securities within six months and 10 days after the
Separation. The Repurchase Notice will set forth the number and type (i.e.,
Unvested Carried Common Unit, Vested Carried Common Unit, Co-Invest Common Unit
or Class B Preferred Unit) of Securities to be acquired from each holder, the
aggregate consideration to be paid for such units and the time and place for
the closing of the transaction. Securities to be repurchased by the Company
shall first be satisfied to the extent possible from the Securities held by
Purchaser at the time of delivery of the Repurchase Notice. If the number of
Securities of the type(s) to be repurchased by the Company then held by
Purchaser is less than the total number of such type(s) of the applicable
Securities that the Company has elected to purchase, the Company shall purchase
the remaining Securities elected to be purchased from the other holder(s) of
Securities under this Agreement (i.e., Purchaser’s Permitted Transferees), pro
rata according to the number of Securities of such type held by such other
holder(s) at the time of delivery of such Repurchase Notice (determined as
nearly as practicable to the nearest unit). The number of Unvested Carried
Common Units and Vested Common Units to be repurchased hereunder will be
allocated among Purchaser and the other holders of Securities (if any) pro rata
according to the number of Class A Common Units to be purchased from such Person.

 

(d)           If
for any reason the Company does not elect to purchase all of the Securities
pursuant to the Repurchase Option, the Investors shall be entitled to exercise
the Repurchase Option for all or any portion of the Securities that the Company
has not elected to purchase (the “Available Securities”). As soon as
practicable after the Company has determined that there will be Available
Securities, but in any event within five months after the Separation, the
Company shall give written notice (the “Option Notice”) to the Investors
setting forth the number and type (i.e., Unvested Carried Common Unit, Vested
Carried Common Unit, Co-Invest Common Unit or Class B Preferred Unit) of
Available Securities and the purchase price(s) for such Available Securities. The
Investors may elect to purchase any or all of the Available Securities by
giving written notice to the Company within six months and 10 days after the
Separation. If the Investors elect to purchase an aggregate number of any type
of the Available Securities that is greater than the number of such type of
Available Securities, the Available Securities of such type shall be allocated
among the Investors based upon the number of Securities owned by each Investor.
As soon as practicable, and in any event within ten days, after the expiration
of the six-month and ten-day period set forth above, the Company shall notify
each holder of Securities as to the number and type of units being purchased
from such holder by the Investors (the “Supplemental Repurchase Notice”).
At the time the Company delivers the Supplemental Repurchase Notice to the
holder(s) of Securities, the Company shall also deliver written notice to

 

5

 

each Investor setting forth the number and type of
units such Investor is entitled to purchase, the aggregate purchase price and
the time and place of the closing of the transaction. The number of Unvested
Carried Common Units and Vested Common Units to be repurchased hereunder shall
be allocated among the Company and the Investors pro rata according to the
number of Class A Common Units to be purchased by each of them.

 

(e)           The
closing of the purchase of the Securities pursuant to the Repurchase Option
shall take place on the date designated by the Company in the Repurchase Notice
or Supplemental Repurchase Notice, which date shall not be more than one month
nor less than five days after the delivery of the later of either such notice
to be delivered. The Company will pay for the Securities to be purchased by it
pursuant to the Repurchase Option by first offsetting amounts outstanding under
any bona fide debts owed by Purchaser to the Company, and will pay the
remainder of the purchase price by, at its option, (A) a check or wire transfer
of funds, (B) if the purchase is being made by a corporate successor to the
Company, the issuance of a subordinated promissory note of the Company bearing
interest at a rate equal to such rate as may be determined by the Board
(provided that such rate may not be less than the prime rate (as published in The
Wall Street Journal from time to time)) and having such maturity provisions
as the Company shall determine in good faith, (C) issuing in exchange for such
securities a number of the Company’s Class A Preferred Units (having the rights
and preferences set forth in the LLC Agreement) equal to (x) the aggregate
portion of the repurchase price for such Securities determined in accordance
with this Section 3 to be paid by the issuance of Class A Preferred
Units divided by (y) 1,000, and for purposes of the LLC Agreement each
such Class A Preferred Unit shall as of its issuance be deemed to have Capital
Contributions (as defined in the LLC Agreement) made with respect to such Class
A Preferred Unit equal to $1,000, or (D) any combination of (A), (B) and (C) as
the Board may elect in its discretion. Each Investor will pay for the
Securities purchased by it by a check or wire transfer of funds. The Company
and the Investors will be entitled to receive customary representations and warranties
from the sellers regarding such sale and require that all sellers’ signatures
be guaranteed.

 

By way of example only for the purpose of clarifying
the mechanics of clause (C) of Section 3(e), if the Company intends to
repurchase Securities consisting of 3,000,000 Class A Common Units by issuance
of Class A Preferred Units and the aggregate repurchase price for such Class A
Common Units determined in accordance with this Section 3 is $400,500,
then the Company would issue to Purchaser 400.5 Class A Preferred Units, and
for purposes of the LLC Agreement each whole Class A Preferred Unit issued to
Purchaser would as of its issuance be deemed to have Capital Contributions made
for such Class A Preferred Unit of $1,000, and the Capital Contributions made
for the one-half Class A Preferred Unit would be $500.

 

(f)            Notwithstanding
anything to the contrary contained in this Agreement, all repurchases of
Securities by the Company pursuant to the Repurchase Option shall be subject to
applicable restrictions contained in the Delaware Limited Liability Company
Act, the Delaware General Corporation Law or such other governing corporate or
limited liability company law, and in the Company’s and its Subsidiaries’ debt
and equity financing agreements. If any such restrictions prohibit (i) the
repurchase of Securities hereunder which the Company is otherwise entitled or
required to make or (ii) dividends or other transfers of funds from one or more
Subsidiaries to the Company to enable such repurchases, then the Company may
make such

 

6

 

repurchases as soon as it is permitted to make
repurchases or receive funds from Subsidiaries under such restrictions.

 

(g)           Notwithstanding
anything to the contrary contained in this Agreement, if the Fair Market Value
of Securities is finally determined to be an amount at least 10% greater than
the per unit repurchase price for such unit of Securities in the Repurchase
Notice or in the Supplemental Repurchase Notice, each of the Company and the
Investors shall have the right to revoke its exercise of the Repurchase Option
for all or any portion of the Securities elected to be repurchased by it by
delivering notice of such revocation in writing to the holders of Securities
during the thirty-day period beginning on the date that the Company and/or the
Investors are given written notice that the Fair Market Value of a unit of
Securities was finally determined to be an amount at least 10% greater than the
per unit repurchase price for Securities set forth in the Repurchase Notice or
in the Supplemental Repurchase Notice.

 

(h)           The
provisions of this Section 3 will terminate with respect to all
Securities upon the consummation of a Public Offering or a Sale of the Company.

 

4.             Restrictions on
Transfer of Securities.

 

(a)           Transfer
of Securities. The holders of Securities shall not Transfer any interest in
any Securities, except pursuant to (i) the provisions of Section 3
hereof, (ii) the provisions of Section 2 of the
Securityholders Agreement (a “Participating Sale”), (iii) an
Approved Sale (as defined in Section 4 of the Securityholders
Agreement), or (iv) the provisions of Section 4(b) below.

 

(b)           Certain
Permitted Transfers. The restrictions in this Section 4 will
not apply with respect to any Transfer of Securities made (i) pursuant to
applicable laws of descent and distribution or to such Person’s legal guardian
in the case of any mental incapacity or among such Person’s Family Group, or
(ii) subject to the restrictions on transfer set forth in the Registration
Agreement (including, without limitation, in Section 3 thereof) or any
agreement entered into pursuant thereto, of Class A Common Units at such time
as the Investors sell Class A Common Units in a Public Sale, but in the
case of this clause (ii) only an amount of Class A Common Units (the “Transfer
Amount”) equal to the lesser of (A) the sum of the number of Vested Carried
Common Units and Co-Invest Common Units owned by Purchaser and (B) the product
of (I) the number of Class A Common Units owned by Purchaser and (II) a
fraction (the “Transfer Fraction”), the numerator of which is the number
of Class A Common Units sold by the Investors in such Public Sale and the
denominator of which is the total number of Class A Common Units held by the
Investors prior to such Public Sale; provided that, if at the time of a
Public Sale of units by the Investors, Purchaser chooses not to Transfer the
Transfer Amount, Purchaser shall retain the right to Transfer an amount of
Class A Common Units at a future date equal to the lesser of (x) the sum of the
number of Vested Carried Common Units and Co-Invest Common Units owned by
Purchaser at such future date and (y) the product of the number of Class A
Common Units owned by Purchaser at such future date and the Transfer Fraction; provided
further that the restrictions contained in this Section 4 will
continue to be applicable to the Securities after any Transfer of the type
referred to in clause (i) above and the transferees of such Securities
must agree in writing to be bound by the provisions of this Agreement. Any
transferee of Securities pursuant to a Transfer in accordance with the

 

7

 

 provisions of clause
(i) of this Section 4(b) is herein referred to as a “Permitted
Transferee.”  Upon the Transfer of
Securities pursuant to this Section 4(b), the transferring holder of
Securities will deliver a written notice (a “Transfer Notice”) to the
Company. In the case of a Transfer pursuant to clause (i) hereof, the Transfer
Notice will disclose in reasonable detail the identity of the Permitted
Transferee(s).

 

(c)           Termination
of Restrictions. The restrictions set forth in this Section 4
will continue with respect to each unit of Securities until the earlier of
(i) the date on which such unit of Securities has been transferred in a
Public Sale permitted by this Section 4, or (ii) the consummation
of a Sale of the Company.

 

5.             Additional
Restrictions on Transfer of Securities.

 

(a)           Legend.
The certificates representing the Securities will bear a legend in
substantially the following form:

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE
ORIGINALLY ISSUED AS OF APRIL 13, 2006, HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD OR
TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT
OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER,
CERTAIN REPURCHASE OPTIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN AN AMENDED
AND RESTATED SECURITIES PURCHASE AGREEMENT BETWEEN THE COMPANY, THE PURCHASER
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE AND OTHER PARTIES, DATED AS
OF APRIL 13, 2006, AS AMENDED. A COPY OF SUCH AGREEMENT MAY BE OBTAINED BY THE
HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.”

 

(b)           Opinion
of Counsel. No holder of Securities may Transfer any Securities (except
pursuant to Section 3 or 4(b) of this Agreement, Section 4 of the
Securityholders Agreement or an effective registration statement under the
Securities Act) without first delivering to the Company a written notice
describing in reasonable detail the proposed Transfer, together with an opinion
of counsel (reasonably acceptable in form and substance to the Company) that
neither registration nor qualification under the Securities Act and applicable
state securities laws is required in connection with such transfer. In
addition, if the holder of the Securities delivers to the Company an opinion of
counsel that no subsequent Transfer of such Securities shall require
registration under the Securities Act, the Company shall promptly upon such
contemplated Transfer deliver new certificates for such Securities that do not
bear the Securities Act portion of the legend set forth in Section 5(a).
If the Company is not required to deliver new certificates for such Securities
not bearing such legend, the holder thereof shall not Transfer the same until
the prospective transferee has confirmed to the Company in writing its
agreement to be bound by the conditions contained in this Section 5.

 

8

 

GENERAL PROVISIONS

 

6.             Confidential
Information.

 

(a)           Obligation
to Maintain Confidentiality. Purchaser acknowledges that the information,
observations and data (including trade secrets) of a confidential, proprietary
or secret nature obtained by him during the course of his performance under
this Agreement concerning the business or affairs of the Company, Solera, Inc.
and their respective Subsidiaries and Affiliates (“Confidential Information”)
are the property of the Company, Solera, Inc. or such Subsidiaries and
Affiliates, including information concerning acquisition opportunities in or
reasonably related to the Company’s and Solera, Inc.’s business or industry of
which Purchaser becomes aware during the period in which Purchaser serves as a
manager of the Company and/or a director of any of its Subsidiaries (the “Service
Period”). Purchaser agrees that he will not disclose to any unauthorized
Person or use for his own account any Confidential Information without the
Board’s written consent, unless and to the extent that the Confidential
Information, (i) becomes generally known to and available for use by the public
other than as a result of Purchaser’s acts or omissions to act, (ii) was known
to Purchaser prior to Purchaser’s service for the Company, Solera, Inc. or any
of their Subsidiaries and Affiliates, or (iii) is required to be disclosed
pursuant to any applicable law or court order. Purchaser shall deliver to the
Company at a Separation, or at any other time the Company may request, all
memoranda, notes, plans, records, reports, computer tapes, printouts and
software and other documents and data (and copies thereof) relating to the
Confidential Information, Work Product (as defined below) or the business of
the Company, Solera, Inc. and their respective Subsidiaries and Affiliates
(including, without limitation, all acquisition prospects, lists and contact
information) which he may then possess or have under his control.

 

(b)           Ownership
of Property. Purchaser acknowledges that all discoveries, concepts, ideas,
inventions, innovations, improvements, developments, methods, processes,
programs, designs, analyses, drawings, reports, patent applications,
copyrightable work and mask work (whether or not including any confidential
information) and all registrations or applications related thereto, all other
proprietary information and all similar or related information (whether or not
patentable) that relate to the Company’s, Solera, Inc.’s or any of their
respective Subsidiaries’ or Affiliates’ actual or anticipated business,
research and development, or existing or future products or services and that
are conceived, developed, contributed to, made, or reduced to practice by
Purchaser (either solely or jointly with others) while he serves as a manager
of the Company and/or a director of any of its Subsidiaries (including any of
the foregoing that constitutes any proprietary information or records) (“Work
Product”) belong to the Company, Solera, Inc. or such Subsidiary or
Affiliate and Purchaser hereby assigns, and agrees to assign, all of the above
Work Product to the Company, Solera, Inc. or to such Subsidiary or Affiliate. Any
copyrightable work prepared in whole or in part by Purchaser in the course of
his work for any of the foregoing entities shall be deemed a “work made for
hire” under the copyright laws, and the Company, Solera, Inc. or such
Subsidiary or Affiliate shall own all rights therein. To the extent that any
such copyrightable work is not a “work made for hire,” Purchaser hereby assigns
and agrees to assign to the Company, Solera, Inc. or such Subsidiary or
Affiliate all right, title, and interest, including without limitation,
copyright in and to such copyrightable work. Purchaser shall promptly disclose
such Work Product and copyrightable work to the Board and perform all actions
reasonably requested by the Board (whether during or after the

 

9

 

Service Period) to establish and confirm the Company’s,
Solera, Inc.’s or such Subsidiary’s or Affiliate’s ownership (including,
without limitation, assignments, consents, powers of attorney, and other
instruments). Purchaser understands, however, that there is no obligation being
imposed on him to assign to the Company or any Subsidiary or Affiliate, any
invention falling within the definition of Work Product for which no equipment,
supplies, facility, or trade secret information of the Company or any of its
Subsidiaries or Affiliates was used and that was developed entirely on his own
time, unless:  (i) such Work Product
relates (A) to the Company’s, or its Subsidiaries’ or Affiliates’ businesses or
(B) to their actual or demonstrably anticipated research or  development, or (ii) the Work Product results
from any work performed by him for them under this Agreement. Purchaser has
identified on the signature page to this Agreement all Work Product that is or
was owned by him or was written, discovered, made, conceived or first reduced
to practice by him alone or jointly with another person prior to the date
hereof. If no such Work Product is listed, Purchaser represents to the Company
that he does not now nor has he ever owned, nor has he made, any such Work
Product.

 

7.             Restrictive
Covenants. Purchaser acknowledges that in the course of his service for the
Company and/or any of its Subsidiaries he will become familiar with the Company’s,
Solera, Inc.’s and their respective Subsidiaries’ trade secrets and with other
confidential information concerning the Company, Solera, Inc. and such
Subsidiaries and that his services will be of special, unique and extraordinary
value to the Company, Solera, Inc. and such Subsidiaries. Therefore, Purchaser
agrees that:

 

(a)           Nonsolicitation.
During the Service Period and for a period of two years thereafter, Purchaser
shall not directly or indirectly through another entity (i) induce or
attempt to induce any employee of the Company, Solera, Inc. or their respective
Subsidiaries to leave the employ of the Company, Solera, Inc. or such
Subsidiary, or in any way interfere with the relationship between the Company,
Solera, Inc. and any of their respective Subsidiaries and any employee thereof
(which restriction shall not preclude placing advertisements in trade
publications or similar general solicitations for employment, so long as such
advertisements or solicitations do not target any employee of the Company, Solera,
Inc. or their respective Subsidiaries), (ii) hire any person who was an
employee of the Company, Solera, Inc. or any of their respective Subsidiaries
within 180 days after such person ceased to be an employee of the Company,
Solera, Inc. or any of their respective Subsidiaries, (iii) induce or
attempt to induce any customer, supplier, licensee or other business relation
of the Company, Solera, Inc. or any of their respective Subsidiaries to cease
doing business with the Company, Solera, Inc. or such Subsidiary or in any way
interfere with the relationship between any such customer, supplier, licensee
or business relation and the Company, Solera, Inc. and any Subsidiary, in each
case, if any such inducement, attempted inducement or interference would involve,
use or rely upon any of the Company’s, Solera, Inc.’s or any of their
respective Subsidiaries’ trade secrets or other confidential information or
(iv) directly or indirectly acquire or attempt to acquire an interest in
any business relating to the business of the Company, Solera, Inc. or any of
their respective Subsidiaries and with which the Company, Solera, Inc. and any
of their respective Subsidiaries has engaged in discussions regarding the
acquisition of an interest in such business or has requested and received
information relating to the acquisition of such business by the Company,
Solera, Inc. or any of their respective Subsidiaries in the two year period
immediately preceding a Separation.

 

10

 

(b)           Enforcement.
If, at the time of enforcement of Section 6 or this Section 7,
a court holds that the restrictions stated herein are unreasonable under
circumstances then existing, the parties hereto agree that the maximum
duration, scope or geographical area reasonable under such circumstances shall
be substituted for the stated period, scope or area and that the court shall be
allowed to revise the restrictions contained herein to cover the maximum
duration, scope and area permitted by law. Because Purchaser’s services are
unique and because Purchaser has access to confidential information, the
parties hereto agree that money damages would be an inadequate remedy for any
breach of this Agreement. Therefore, in the event a breach or threatened breach
of this Agreement, the Company, Solera, Inc., their respective Subsidiaries or
their successors or assigns may, in addition to other rights and remedies
existing in their favor, apply to any court of competent jurisdiction for
specific performance and/or injunctive or other relief in order to enforce, or
prevent any violations of, the provisions hereof (without posting a bond or
other security).

 

(c)           Additional
Acknowledgments. Purchaser acknowledges that the provisions of this Section
7 are in consideration of:  (i) his
service for the Company and/or any of its Subsidiaries, (ii) the issuance
of the Purchaser Securities by the Company and (iii) additional good and
valuable consideration as set forth in this Agreement. In addition, Purchaser
agrees and acknowledges that the restrictions contained in Section 6 and
this Section 7 do not preclude Purchaser from earning a livelihood,
nor do they unreasonably impose limitations on Purchaser’s ability to earn a
living. In addition, Purchaser acknowledges (i) that the business of the
Company, Solera, Inc. and their respective Subsidiaries will be conducted
throughout the United States and other jurisdictions where the Company, Solera,
Inc. or their respective Subsidiaries conduct business during the Service
Period and (ii) notwithstanding the state of organization or principal office
of the Company, Solera, Inc. or any of their respective Subsidiaries, or any of
their respective executives or employees (including Purchaser), it is expected
that the Company and Solera, Inc. will have business activities and have
valuable business relationships within its industry throughout the United
States and other jurisdictions where the Company, Solera, Inc. or their
respective Subsidiaries conduct business during the Service Period. Purchaser
agrees and acknowledges that the potential harm to the Company and Solera, Inc.
of the non-enforcement of Section 6 and this Section 7
outweighs any potential harm to Purchaser of its enforcement by injunction or
otherwise. Purchaser acknowledges that he has carefully read this Agreement and
has given careful consideration to the restraints imposed upon Purchaser by
this Agreement, and is in full accord as to their necessity for the reasonable
and proper protection of confidential and proprietary information of the
Company and Solera, Inc. now existing or to be developed in the future. Purchaser
expressly acknowledges and agrees that each and every restraint imposed by this
Agreement is reasonable with respect to subject matter, time period and
geographical area.

 

8.             Definitions.

 

“Affiliate” means, (i) with respect to any
Person, any Person that controls, is controlled by or is under common control
with such Person or an Affiliate of such Person, and (ii) with respect to any
Investor, any general or limited partner of such Investor, any employee or
owner of any such partner, or any other Person controlling, controlled by or
under common control with such Investor; it being understood and agreed that
GTCR I and its Affiliates shall for all purposes hereunder shall be Affiliates
of GTCR II.

 

11

 

“Board” means the Company’s board of managers.

 

“Cause” means (i) the commission of a
felony or a crime involving moral turpitude or the commission of any other act
or omission involving dishonesty or fraud with respect to the Company, Solera,
Inc. or any of their respective Subsidiaries or any of their customers or
suppliers, (ii) conduct tending to bring the Company, Solera, Inc. or any of
their respective Subsidiaries into substantial public disgrace or disrepute and
(iii) any breach by Purchaser of Sections 6 or 7 of
this Agreement.

 

“Class A Common Units” means the Class A Common
Units of the Company having the rights and obligations set forth in the LLC
Agreement.

 

“Class B Preferred Units” means the Class B
Preferred Units of the Company having the rights and obligations set forth in
the LLC Agreement.

 

“Fair Market Value” of each unit of Securities
means the average of the closing prices of the sales of such Securities on all
securities exchanges on which such Securities may at the time be listed, or, if
there have been no sales on any such exchange on any day, the average of the
highest bid and lowest asked prices on all such exchanges at the end of such
day, or, if on any day such Securities are not so listed, the average of the
representative bid and asked prices quoted in the NASDAQ System as of
4:00 P.M., New York time, or, if on any day such Securities are not quoted
in the NASDAQ System, the average of the highest bid and lowest asked prices on
such day in the domestic over-the-counter market as reported by the National
Quotation Bureau Incorporated, or any similar successor organization, in each
such case averaged over a period of 21 days consisting of the day as of which
the Fair Market Value is being determined and the 20 consecutive business days
prior to such day. If at any time such Securities are not listed on any
securities exchange or quoted in the NASDAQ System or the over-the-counter
market, the Fair Market Value will be the fair value of such Securities as
determined in good faith by the Board. If Purchaser reasonably disagrees with
such determination, Purchaser shall deliver to the Board a written notice of
objection within ten days after delivery of the Repurchase Notice (or if no
Repurchase Notice is delivered, then within ten days after delivery of the
Supplemental Repurchase Notice). Upon receipt of Purchaser’s written notice of
objection, the Board and Purchaser will negotiate in good faith to agree on
such Fair Market Value. If such agreement is not reached within 30 days after
the delivery of the Repurchase Notice (or if no Repurchase Notice is delivered,
then within 30 days after the delivery of the Supplemental Repurchase Notice),
Fair Market Value shall be determined by an appraiser jointly selected by the
Board and Purchaser, which appraiser shall submit to the Board and Purchaser a
report within 30 days of its engagement setting forth such determination. If
the parties are unable to agree on an appraiser within 45 days after delivery
of the Repurchase Notice or the Supplemental Repurchase Notice, within seven
days, each party shall submit the names of four nationally recognized firms
that are engaged in the business of valuing non-public securities, and each
party shall be entitled to strike two names from the other party’s list of
firms, and the appraiser shall be selected by lot from the remaining four
appraisal firms. The expenses of such appraiser shall be borne by Purchaser
unless the appraiser’s valuation is more than 10% greater than the amount
determined by the Board, in which case the expenses of the appraiser shall be
borne by the Company. In making such appraisal, the appraiser shall determine
the fair value of the Company as a whole without discount for either lack of
control or contractual

 

12

 

restrictions on transfer
applicable to the Securities. The determination of such appraiser as to Fair
Market Value shall be final and binding upon all parties.

 

“Family Group” means a Person’s spouse and
descendants (whether natural or adopted), and any trust, family limited
partnership, limited liability company or other entity wholly owned, directly
or indirectly, by such Person or such Person’s spouse and/or descendants that
is and remains solely for the benefit of such Person and/or such Person’s
spouse and/or descendants and any retirement plan for such Person.

 

“GTCR I” means GTCR Golder Rauner, L.L.C., a
Delaware limited liability company.

 

“GTCR II” means GTCR Golder Rauner II, L.L.C.,
a Delaware limited liability company.

 

“GTCR Co-Invest II” means GTCR Co-Invest II,
L.P., a Delaware limited partnership.

 

“GTCR Fund VIII” means GTCR Fund VIII, L.P., a
Delaware limited partnership.

 

“GTCR Fund VIII/B” means GTCR Fund VIII/B,
L.P., a Delaware limited partnership.

 

“Investors” means GTCR Fund VIII, GTCR Fund
VIII/B, GTCR Co-Invest II, and any other investment fund managed by GTCR I or
GTCR II that at any given time owns securities of the Company.

 

“Letter Agreement” means that certain letter
agreement, dated as of February 7, 2006, among the Company and each of the
individuals party to a Senior Management Agreement (as defined in the LLC
Agreement).

 

“LLC Agreement” means the Limited Liability Company
Agreement of the Company, as amended from time to time pursuant to its terms.

 

“Original Cost” means, with respect to each
Common Unit purchased under the Prior Securities Purchase Agreement or
hereunder, $0.10 (as proportionately adjusted for all subsequent unit splits,
unit dividends and other recapitalizations).

 

“Person” means an individual, a partnership, a
limited liability company, a corporation, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization, investment
fund, any other business entity and a governmental entity or any department,
agency or political subdivision thereof.

 

“Public Offering” means the sale in an
underwritten public offering registered under the Securities Act of equity
securities of the Company or a corporate successor to the Company.

 

13

 

“Public Sale” means (i) any sale pursuant
to a registered public offering under the Securities Act or (ii) any sale
to the public pursuant to Rule 144 promulgated under the Securities Act
effected through a broker, dealer or market maker (other than pursuant to Rule
144(k) prior to a Public Offering).

 

“Purchase Agreement” means the Amended and
Restated Unit Purchase Agreement, to be dated as of April 13, 2006, between the
Company and the Investors, as amended from time to time pursuant to its terms.

 

“Registration Agreement” means the Registration
Rights Agreement, dated as of April 1, 2005, among the Company and certain of
its securityholders, as amended from time to time pursuant to its terms.

 

“Sale of the Company” means any transaction or
series of related transactions pursuant to which any Person or group of related
Persons other than, except for purposes of Section 2(d), the Investors
or their Affiliates in the aggregate acquire(s) (i) equity securities of
the Company possessing the voting power (other than voting rights accruing only
in the event of a default, breach or event of noncompliance) to elect a
majority of the Board (whether by merger, consolidation, reorganization,
combination, sale or transfer of the Company’s equity, securityholder or voting
agreement, proxy, power of attorney or otherwise) or (ii) all or
substantially all of the Company’s assets determined on a consolidated basis; provided
that a Public Offering shall not constitute a Sale of the Company.

 

“Securities” will continue to be Securities in
the hands of any holder other than Purchaser (except for the Company and the
Investors and except for transferees in a Public Sale), and except as otherwise
provided herein, each such other holder of Securities will succeed to all
rights and obligations attributable to Purchaser as a holder of Securities
hereunder. Securities will also include equity of the Company (or a corporate
successor to the Company or a Subsidiary of the Company) issued with respect to
Securities (i) by way of a unit split, unit dividend, conversion, or other
recapitalization, (ii) by way of reorganization or recapitalization of the
Company in connection with the incorporation of a corporate successor prior to
a Public Offering or (iii) by way of a distribution of securities of a
Subsidiary of the Company to the members of the Company following or with
respect to a Subsidiary Public Offering. Notwithstanding the foregoing, all
Unvested Carried Common Units shall remain Unvested Carried Common Units after
any Transfer thereof.

 

“Securities Act” means the Securities Act of
1933, as amended from time to time.

 

“Securityholders Agreement” means the
Securityholders Agreement, dated as of April 1, 2005, among the Company and
certain of its securityholders, as amended from time to time pursuant to its
terms.

 

“Separation” means Purchaser ceasing to serve
as a manager of the Company or a director of any of its Subsidiaries for any
reason.

 

“Solera, Inc.” means Solera, Inc., a Delaware
corporation.

 

14

 

“Subsidiary” means, with respect to any Person,
any corporation, limited liability company, partnership, association, or
business entity of which (i) if a corporation, a majority of the total
voting power of shares of stock entitled (without regard to the occurrence of
any contingency) to vote in the election of directors, managers, or trustees
thereof is at the time owned or controlled, directly or indirectly, by that
Person or one or more of the other Subsidiaries of that Person or a combination
thereof, or (ii) if a limited liability company, partnership, association,
or other business entity (other than a corporation), a majority of  partnership or other similar ownership
interest thereof is at the time owned or controlled, directly or indirectly, by
that Person or one or more Subsidiaries of that Person or a combination thereof.
For purposes hereof, a Person or Persons shall be deemed to have a majority
ownership interest in a limited liability company, partnership, association, or
other business entity (other than a corporation) if such Person or Persons
shall be allocated a majority of limited liability company, partnership, association,
or other business entity gains or losses or shall be or control any managing
director or general partner of such limited liability company, partnership,
association, or other business entity. For purposes hereof, references to a “Subsidiary”
of any Person shall be given effect only at such times that such Person has one
or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary”
refers to a Subsidiary of the Company.

 

“Subsidiary Public Offering” means the sale in
an underwritten public offering registered under the Securities Act of equity
securities of Solera, Inc. or another Subsidiary of the Company.

 

“Transfer” means to sell, transfer, assign,
pledge or otherwise dispose of (whether with or without consideration and
whether voluntarily or involuntarily or by operation of law).

 

9.             Notices. All
notices, demands or other communications to be given or delivered under or by
reason of the provisions of this Agreement shall be in writing and shall be
deemed to have been given when (i) delivered personally to the recipient, (ii)
sent to the recipient by reputable express courier service (charges prepaid),
(iii) mailed to the recipient by certified or registered mail, return receipt
requested and postage prepaid, or (iv) telecopied to the recipient (with hard
copy sent to the recipient by reputable overnight courier service (charges
prepaid) that same day) if telecopied before 5:00 p.m. Chicago, Illinois time
on a business day, and otherwise on the next business day. Such notices, demands
and other communications shall be sent to the parties at the addresses
indicated below:

 

If to Solera, Inc.:

 

Solera, Inc.

12230 El Camino
Real, Suite 200

San Diego, CA  92130

Attention:  Chief
Executive Officer

Facsimile:  (858) 812-3011

 

15

 

with copies to:

 

GTCR Fund VIII, L.P.,
GTCR Fund VIII/B, L.P., and

GTCR Co-Invest II, L.P.

c/o GTCR Golder Rauner
II, L.L.C.

6100 Sears Tower

Chicago, Illinois  60606-6402

Attention:  Philip
A. Canfield

Craig A. Bondy

Facsimile: (312)
382-2201

 

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois  60601

Attention:  Stephen
L. Ritchie, P.C.

Facsimile: (312)
861-2200

 

If to the Company:

 

Solera Holdings, LLC

12230 El Camino Real,
Suite 200

San
Diego, CA  92130

Attention:  Chief
Executive Officer

Facsimile:  (858) 812-3011

 

with copies to:

 

GTCR Golder Rauner II,
L.L.C.

6100 Sears Tower

Chicago, Illinois  60606-6402

Attention:  Philip
A. Canfield

Craig A. Bondy

Facsimile: (312)
382-2201

 

and

 

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois  60601

Attention:  Stephen
L. Ritchie, P.C.

Facsimile: (312)
861-2200

 

16

 

If to Purchaser:

 

Garen Staglin

P.O. Box 680

Napa, CA 94573

Facsimile:  (707) 963-8786

 

If to the Investors:

 

GTCR Golder Rauner II,
L.L.C.

6100 Sears Tower

Chicago, Illinois  60606-6402

Attention:  Philip
A. Canfield

Craig A. Bondy

Facsimile: (312)
382-2201

 

with a copy to:

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois  60601

Attention:  Stephen
L. Ritchie, P.C.

Facsimile: (312)
861-2200

 

or such other address or
to the attention of such other Person as the recipient party shall have
specified by prior written notice to the sending party.

 

10.           General Provisions.

 

(a)           Transfers
in Violation of Agreement. Any Transfer or attempted Transfer of any
Securities in violation of any provision of this Agreement shall be void, and
the Company shall not record such Transfer on its books or treat any purported
transferee of such Securities as the owner of such equity for any purpose.

 

(b)           Severability.
Whenever possible, each provision of this Agreement will be interpreted in such
manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid, illegal or unenforceable in any
respect under any applicable law or rule in any jurisdiction, such invalidity,
illegality or unenforceability will not affect any other provision or any other
jurisdiction, but this Agreement will be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provision had
never been contained herein.

 

(c)           Complete
Agreement. The Prior Securities Purchase Agreement is amended, restated and
superseded by this Agreement in its entirety; provided that, notwithstanding
the foregoing or anything else to the contrary in this Agreement, nothing
herein shall relieve any party from any liability for any breach prior to the
date hereof of the Prior Securities Purchase Agreement and any provision so
breached shall not be superseded by this Agreement for

 

17

 

purposes of actions taken in connection with such
breach and liabilities related thereto and the rights of the parties hereto
under Section 1(e) of the Prior Securities Purchase Agreement shall
survive this amendment and restatement. This Agreement, those documents
expressly referred to herein and other documents of even date herewith embody
the complete agreement and understanding among the parties and supersede and
preempt any prior understandings, agreements or representations by or among the
parties, written or oral, which may have related to the subject matter hereof
in any way, including, but not limited to, the Letter Agreement.

 

(d)           No
Strict Construction. The language used in this Agreement shall be deemed to
be the language chosen by the parties hereto to express their mutual intent,
and no rule of strict construction shall be applied against any party.

 

(e)           Counterparts.
This Agreement may be executed in separate counterparts (including by means of
facsimile), each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

 

(f)            Successors
and Assigns. Except as otherwise provided herein, this Agreement shall bind
and inure to the benefit of and be enforceable by Purchaser, the Company, the
Investors and their respective successors and assigns (including subsequent
holders of Securities); provided that the rights and obligations of
Purchaser under this Agreement shall not be assignable except in connection
with a permitted transfer of Securities hereunder.

 

(g)           Choice
of Law. The law of the State of Delaware will govern all questions
concerning the relative rights of the Company and its securityholders. All
other questions concerning the construction, validity and interpretation of
this Agreement and the exhibits hereto will be governed by and construed in
accordance with the internal laws of the State of Delaware, without giving
effect to any choice of law or conflict of law provision or rule (whether of
the State of Delaware or any other jurisdiction) that would cause the
application of the laws of any jurisdiction other than the State of Delaware.

 

(h)           MUTUAL
WAIVER OF JURY TRIAL. BECAUSE
DISPUTES ARISING IN CONNECTION WITH COMPLEX TRANSACTIONS ARE MOST QUICKLY AND
ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH
APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE
PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH
APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF
THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS AGREEMENT HEREBY
WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT
TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE PARTIES HERETO, WHETHER
ARISING IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH,
RELATED OR INCIDENTAL TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY
AND/OR THE RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER.

 

(i)            Purchaser’s
Cooperation. During the Service Period and thereafter, Purchaser shall
cooperate with the Company, Solera, Inc. and their respective Subsidiaries and
Affiliates in

 

18

 

any disputeswith
third parties, internal investigation or administrative, regulatory or judicial
proceeding as reasonably requested by the Company (including, without
limitation, Purchaser being available to the Company upon reasonable notice for
interviews and factual investigations, appearing at the Company’s request to
give testimony without requiring service of a subpoena or other legal process,
volunteering to the Company all pertinent information and turning over to the
Company all relevant documents which are or may come into Purchaser’s
possession, all at times and on schedules that are reasonably consistent with
Purchaser’s other permitted activities and commitments). In the event the
Company requires Purchaser’s cooperation in accordance with this paragraph
during the Service Period, the Company shall reimburse Purchaser solely for
reasonable travel expenses (including lodging and meals, upon submission of
receipts). In the event the Company requires Purchaser’s cooperation in
accordance with this paragraph after the Service Period, the Company shall
reimburse Purchaser for reasonable travel expenses (including lodging and
meals, upon submission of receipts) and compensate Purchaser at a reasonable
rate for such cooperation, as determined by mutual agreement of the Company and
Purchaser.

 

(j)            Remedies.
Each of the parties to this Agreement (and the Investors as third-party
beneficiaries) will be entitled to enforce its rights under this Agreement
specifically, to recover damages and costs (including attorney’s fees) caused
by any breach of any provision of this Agreement and to exercise all other
rights existing in its favor. The parties hereto agree and acknowledge that
money damages may not be an adequate remedy for any breach of the provisions of
this Agreement and that any party may in its sole discretion apply to any court
of law or equity of competent jurisdiction (without posting any bond or
deposit) for specific performance and/or other injunctive relief in order to
enforce or prevent any violations of the provisions of this Agreement.

 

(k)           Amendment
and Waiver. The provisions of this Agreement may be amended and waived only
with the prior written consent of the Company, Purchaser and the Majority Holders
(as defined in the Purchase Agreement).

 

(l)            Business
Days. If any time period for giving notice or taking action hereunder
expires on a day which is a Saturday, Sunday or holiday in the state in which
the Company’s chief executive office is located, the time period shall be
automatically extended to the business day immediately following such Saturday,
Sunday or holiday.

 

(m)          Indemnification
and Reimbursement of Payments on Behalf of Purchaser. The Company and its
Subsidiaries shall be entitled to deduct or withhold from any amounts owing
from the Company or any of its Subsidiaries to Purchaser any federal, state,
local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”)
imposed with respect to Purchaser’s compensation or other payments from the
Company or its Subsidiaries or Purchaser’s ownership interest in the Company,
including, without limitation, wages, bonuses, dividends, the receipt or
exercise of equity options and/or the receipt or vesting of restricted equity. In
the event the Company or its Subsidiaries does not make such deductions or
withholdings, Purchaser shall indemnify the Company and its Subsidiaries for
any amounts paid with respect to any such Taxes, together with any interest,
penalties and related expenses thereto.

 

(n)           Termination.
This Agreement shall survive a Separation and shall remain in full force and
effect after such Separation.

 

19

 

(o)           Adjustments
of Numbers. All numbers set forth herein that refer to unit prices or
amounts will be appropriately adjusted to reflect unit splits, unit dividends,
combinations of units and other recapitalizations affecting the subject class
of equity.

 

(p)           Deemed
Transfer of Securities. If the Company (and/or the Investors and/or any
other Person acquiring securities) shall make available, at the time and place
and in the amount and form provided in this Agreement, the consideration for
the Securities to be repurchased in accordance with the provisions of this
Agreement, then from and after such time, the Person from whom such units are
to be repurchased shall no longer have any rights as a holder of such units
(other than the right to receive payment of such consideration in accordance
with this Agreement), and such units shall be deemed purchased in accordance
with the applicable provisions hereof and the Company (and/or the Investors
and/or any other Person acquiring securities) shall be deemed the owner and
holder of such units, whether or not the certificates therefor have been
delivered as required by this Agreement.

 

(q)           No
Pledge or Security Interest. The purpose of the Company’s retention of
Purchaser’s certificates and executed security powers is solely to facilitate
the provisions set forth in Section 3 herein and Section 4 of the
Securityholders Agreement and does not by itself constitute a pledge by
Purchaser of, or the granting of a security interest in, the underlying equity.

 

(r)            Rights
Granted to GTCR and its Affiliates. Any rights granted to GTCR and its
Affiliates hereunder may also be exercised (in whole or in part) by their
designees.

 

(s)           Subsidiary
Public Offering. If, after consummation of a Subsidiary Public Offering,
the Company distributes securities of such Subsidiary to members of the
Company, then such securities will be treated in the same manner as (but
excluding any “preferred” features of the units with respect to which they were
distributed) the units with respect to which they were distributed for purposes
of Sections 1, 2, 3, 4 and 5 hereof.

 

(t)            Delivery
by Facsimile. This Agreement, the agreements referred to herein, and each
other agreement or instrument entered into in connection herewith or therewith
or contemplated hereby or thereby, and any amendments hereto or thereto, to the
extent signed and delivered by means of a facsimile machine, shall be treated
in all manner and respects as an original agreement or instrument and shall be
considered to have the same binding legal effect as if it were the original
signed version thereof delivered in person. At the request of any party hereto
or to any such agreement or instrument, each other party hereto or thereto
shall reexecute original forms thereof and deliver them to all other parties. No
party hereto or to any such agreement or instrument shall raise the use of a
facsimile machine to deliver a signature or the fact that any signature or
agreement or instrument was transmitted or communicated through the use of a
facsimile machine as a defense to the formation or enforceability of a contract
and each such party forever waives any such defense.

 

(u)           Deemed
Senior Management Agreement. Notwithstanding anything in the LLC Agreement,
the Purchase Agreement, the Securityholders Agreement or the Registration
Agreement to the contrary, this Agreement shall be deemed to be a “Senior
Management Agreement” for the purposes of such agreements.

 

20

 

*     *    
*     *     *

 

21

 

IN WITNESS WHEREOF, the parties hereto have executed
this Amended and Restated Securities Purchase Agreement on the date first above
written.

 

	
   

  	
  SOLERA
  HOLDINGS, LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  
	
   

  	
  Name:

  	
  Tony Aquila

  
	
   

  	
  Its:

  	
  Chief Executive
  Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Garen Staglin

  
	
   

  	
  GAREN
  STAGLIN

  

 

 

Signature Page to Amended
and Restated Securities Purchase Agreement of Garen Staglin

 

22

 

Agreed and Accepted:

THE INVESTORS:

 

	
  GTCR FUND VIII, L.P.

  
	
   

  	
   

  
	
  By:

  	
  GTCR Partners VIII,
  L.P.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  
	
  Its:

  	
  Principal

  
	
   

  	
   

  
	
   

  	
   

  
	
  GTCR FUND VIII/B, L.P.

  
	
   

  	
   

  
	
  By:

  	
  GTCR Partners VIII,
  L.P.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  
	
  Its:

  	
  Principal

  
	
   

  	
   

  
	
   

  	
   

  
	
  GTCR CO-INVEST II, L.P.

  
	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  
	
  Its:

  	
  Principal

  

 

Signature Page to Amended
and Restated Securities Purchase Agreement of Garcn Staglin

 

23Exhibit 10.18

 

AMENDED
AND RESTATED

SECURITIES PURCHASE AGREEMENT

 

THIS AMENDED AND RESTATED SECURITIES
PURCHASE AGREEMENT (this “Agreement”) is made as of
April 13, 2006, by and between Solera Holdings, LLC, a Delaware limited
liability company (the “Company”), and Roxani Gillespie (“Purchaser”).

 

On April 11, 2005, pursuant to the Securities Purchase
Agreement, dated as of April 11, 2005, by and between the Company and Purchaser
(the “Prior Securities Purchase Agreement”), Purchaser purchased from
the Company (i) 121,447 of the Company’s Class A Common Units (as defined
below) and (ii) none of the Company’s Class B Preferred Units (as defined
below). On the date hereof, pursuant to the terms and conditions of this
Agreement, Purchaser will purchase from the Company 24,606 Class A Common Units.
All Class A Common Units and Class B Preferred Units owned by Purchaser or
acquired by Purchaser pursuant to this Agreement or the Prior Securities
Purchase Agreement are referred to herein as “Securities.”  Certain definitions are set forth in Section 8
of this Agreement.

 

The Company and Purchaser desire to amend and restate
the Prior Securities Purchase Agreement in its entirety. Certain provisions of
this Agreement are intended for the benefit of, and will be enforceable by, the
Investors (as defined below).

 

NOW, THEREFORE, in consideration of the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to the
Prior Securities Purchase Agreement hereby agree to amend and restate the Prior
Securities Purchase Agreement in its entirety as follows and all parties hereto
hereby agree as follows:

 

PROVISIONS RELATING TO SECURITIES

 

1.             Purchase and Sale
of Securities.

 

(a)           Pursuant
to the Prior Securities Purchase Agreement, on April 11, 2005, Purchaser
purchased and the Company sold, (i) 121,447 Class A Common Units and (ii) 0
Class B Preferred Units. On such date, the Company delivered to Purchaser a
copy of the certificates evidencing such Securities, and Purchaser delivered to
Solera, Inc., for the benefit of the Company, a cashier’s or certified check or
wire transfer of immediately available funds in an aggregate amount equal to
$12,144.74 as payment for such Securities.

 

(b)           Upon
the execution of this Agreement, Purchaser will purchase, and the Company will
sell, 24,606 Class A Common Units at a price of $0.10 per unit. On the dated
hereof, the Company will deliver to Purchaser a copy of the certificate
representing such Class A Common Units, and Purchaser will deliver to the
Company a cashier’s or certified check or wire transfer of immediately
available funds in an aggregate amount equal to $2,460.64 as payment for such
Class A Common Units. Following such purchase of Class A Common Units,
Purchaser will own the following Securities: (i) 146,053 Class A Common Units,
which units shall be referred to herein as the “Carried Common Units”;
(ii) 0 Class A Common Units, which units shall be referred to herein as the “Co-Invest
Common Units”; and (iii) 0 Class B Preferred 

 

 

Units. The Co-Invest Common Units, together with the
Class B Preferred Units, shall be referred to herein as the “Co-Invest Units”.

 

(c)           On
April 27, 2005, Purchaser made an effective election with the Internal Revenue
Service under Section 83(b) of the Internal Revenue Code and the
regulations promulgated thereunder in the form of Exhibit A
attached to the Prior Securities Purchase Agreement. Within 30 days after the
purchase of any Carried Common Units hereunder (including, without limitation,
upon the execution hereof), Purchaser will make an effective election with the
Internal Revenue Service under Section 83(b) of the Internal Revenue Code
and the regulations promulgated thereunder in the form of Exhibit A
attached hereto.

 

(d)           Until
released upon the occurrence of a Sale of the Company or a Public Offering as
provided below, all certificates evidencing Securities shall be held by the
Company for the benefit of Purchaser and the other holder(s) of Securities. Upon
the occurrence of a Sale of the Company, the Company will return all
certificates in its possession evidencing Securities to the record holders
thereof. Upon the consummation of a Public Offering, the Company will return to
the record holders thereof certificates in its possession evidencing the
Co-Invest Units and the Vested Carried Common Units (as defined below).

 

(e)           In
connection with the purchase and sale of the Securities, Purchaser represents
and warrants to the Company that:

 

(i)            The
Securities to be acquired by Purchaser pursuant to this Agreement will be
acquired for Purchaser’s own account and not with a view to, or intention of,
distribution thereof in violation of the Securities Act, or any applicable
state securities laws, and the Securities will not be disposed of in
contravention of the Securities Act or any applicable state securities laws.

 

(ii)           Purchaser
is sophisticated in financial matters and is able to evaluate the risks and
benefits of the investment in the Securities.

 

(iii)          Purchaser is an “accredited investor” within
the meaning of Rule 501 of Regulation D of the Securities and Exchange
Commission.

 

(iv)          Purchaser
is able to bear the economic risk of her investment in the Securities for an
indefinite period of time because the Securities have not been registered under
the Securities Act and, therefore, cannot be sold unless subsequently
registered under the Securities Act or an exemption from such registration is
available.

 

(v)           Purchaser
has had an opportunity to ask questions and receive answers concerning the
terms and conditions of the offering of Securities and has had full access to
such other information concerning the Company as she has requested.

 

(vi)          This
Agreement constitutes the legal, valid and binding obligation of Purchaser,
enforceable in accordance with its terms, and the execution, delivery and
performance of this Agreement by Purchaser does not and will not conflict with,
violate or cause a breach of any agreement, contract or instrument to which
Purchaser is a party or any judgment, order or decree to which Purchaser is
subject.

 

2

 

(vii)         Purchaser is a resident of the State of
California.

 

(f)            As
an inducement to the Company to issue the Securities to Purchaser, and as a
condition thereto, Purchaser acknowledges and agrees that neither the issuance
of the Securities to Purchaser nor any provision contained in this Section 1
shall entitle Purchaser to serve as a manager of the Company or a director of
any of its Subsidiaries or affect the right of the Investors to remove
Purchaser as a manager of the Company or a director of any of its Subsidiaries
for any reason.

 

(g)           In
accordance with the terms of the Prior Securities Purchase Agreement, Purchaser
has executed in blank ten security transfer powers (the “Security Powers”)
with respect to the Securities acquired pursuant to the Prior Securities
Purchase Agreement and has delivered such Security Powers to the Company. Concurrently
with the execution of this Agreement, Purchaser shall execute in blank ten
Security Powers in the form of Exhibit B attached hereto with respect to
the Securities and shall deliver such Security Powers to the Company. The
Security Powers shall authorize the Company to assign, transfer and deliver the
Securities to the appropriate acquiror thereof pursuant to Section 3
below or Section 4 of the Securityholders Agreement and under no other
circumstances.

 

(h)           Concurrently
with the execution of this Agreement, if Purchaser is lawfully married,
Purchaser’s spouse shall execute the Consent in the form of Exhibit C
attached hereto.

 

(i)            On
April 13, 2005, Purchaser shall became a party to the LLC Agreement and a party
to the Securityholders Agreement and the Registration Agreement, in each case,
in the capacity of an Other Securityholder.

 

2.             Vesting of Carried
Common Units.

 

(a)           The
Carried Common Units shall be subject to vesting in the manner specified in
this Section 2.

 

(b)           Except
as otherwise provided in this Section 2, the Carried Common Units shall
become vested, in accordance with the following schedule, if as of each such
date Purchaser continues to serve as a manager of the Company and/or a director
of any of its Subsidiaries:

 

	
  Date

  	
   

  	
  Cumulative

  Percentage of Carried Common

  Units Vested

  	
   

  
	
  April 11, 2006

  	
   

  	
  20.00

  	
  %

  
	
  June 30, 2006

  	
   

  	
  25.00

  	
  %

  
	
  September 30, 2006

  	
   

  	
  30.00

  	
  %

  
	
  December 31, 2006

  	
   

  	
  35.00

  	
  %

  
	
  March 31, 2007

  	
   

  	
  40.00

  	
  %

  
	
  June 30, 2007

  	
   

  	
  45.00

  	
  %

  
	
  September 30, 2007

  	
   

  	
  50.00

  	
  %

  
	
  December 31, 2007

  	
   

  	
  55.00

  	
  %

  

 

3

 

	
  March 31, 2008

  	
   

  	
  60.00

  	
  %

  
	
  June 30, 2008

  	
   

  	
  65.00

  	
  %

  
	
  September 30, 2008

  	
   

  	
  70.00

  	
  %

  
	
  December 31, 2008

  	
   

  	
  75.00

  	
  %

  
	
  March 31, 2009

  	
   

  	
  80.00

  	
  %

  
	
  June 30, 2009

  	
   

  	
  85.00

  	
  %

  
	
  September 30, 2009

  	
   

  	
  90.00

  	
  %

  
	
  December 31, 2009

  	
   

  	
  95.00

  	
  %

  
	
  March 31, 2010

  	
   

  	
  100.00

  	
  %

  

 

(c)           Upon
the occurrence of a Sale of the Company, all Carried Common Units which have
not yet become vested shall become vested as of the date of consummation of the
Sale of the Company, if, as of such date, Purchaser has continuously served as
a manager of the Company and/or a director of any of its Subsidiaries from the
date of this Agreement through and including such date.

 

(d)           Carried
Common Units that have become vested (“Vested Carried Common Units”) and
the Co-Invest Units that are Class A Common Units are referred to herein as “Vested
Common Units.”  The Vested Common
Units and the Class B Preferred Units are collectively referred to herein as “Vested
Units.”  All Carried Common Units
that have not vested are referred to herein as “Unvested Carried Common
Units.”

 

3.             Repurchase Option.

 

(a)           In
the event of a Separation, the Securities (whether vested or unvested and
whether held by Purchaser or one or more of Purchaser’s transferees, other than
the Company and the Investors) will be subject to repurchase, in each case by
the Company and the Investors pursuant to the terms and conditions set forth in
this Section 3 (the “Repurchase Option”). The Company may
assign its repurchase rights set forth in this Section 3 to any Person; provided
that if there is a Subsidiary Public Offering and the securities of such
Subsidiary are distributed to the members of the Company, then such Subsidiary
will be treated as the Company for purposes of this Section 3 with
respect to any repurchase of the securities of such Subsidiary.

 

(b)           In
the event of a Separation, (i) the purchase price for each Unvested Carried
Common Unit will be the lesser of (A) Purchaser’s Original Cost for such unit
and (B) the Fair Market Value of such unit as of the delivery date of the
Repurchase Notice or Supplemental Repurchase Notice, as the case may be, in
either case first delivered pursuant to Section 3(c) and (ii) the
purchase price for each Vested Carried Common Unit and Co-Invest Unit will be
the Fair Market Value of such unit as of the delivery date of the Repurchase
Notice or Supplemental Repurchase Notice, as the case may be, in either case
delivered pursuant to Section 3(c); provided, however, that if
Purchaser’s service as a manager of the Company or a director of any of its
Subsidiaries is terminated with Cause, the purchase price for each Vested
Carried Common Unit will be the lesser of (A) Purchaser’s Original Cost for
such unit and (B) the Fair Market Value of such unit as of the delivery date of
the Repurchase Notice or Supplemental Repurchase Notice, as the case may be.

 

4

 

(c)           In
the event of a Separation, the Company (with the approval of the Board) may
elect to purchase all or any portion of the Securities pursuant to this Section
3 by delivering written notice (the “Repurchase Notice”) to the
holder or holders of such securities within six months and 10 days after the
Separation. The Repurchase Notice will set forth the number and type (i.e.,
Unvested Carried Common Unit, Vested Carried Common Unit, Co-Invest Common Unit
or Class B Preferred Unit) of Securities to be acquired from each holder, the
aggregate consideration to be paid for such units and the time and place for
the closing of the transaction. Securities to be repurchased by the Company
shall first be satisfied to the extent possible from the Securities held by
Purchaser at the time of delivery of the Repurchase Notice. If the number of
Securities of the type(s) to be repurchased by the Company then held by
Purchaser is less than the total number of such type(s) of the applicable
Securities that the Company has elected to purchase, the Company shall purchase
the remaining Securities elected to be purchased from the other holder(s) of
Securities under this Agreement (i.e., Purchaser’s Permitted Transferees), pro
rata according to the number of Securities of such type held by such other
holder(s) at the time of delivery of such Repurchase Notice (determined as
nearly as practicable to the nearest unit). The number of Unvested Carried
Common Units and Vested Common Units to be repurchased hereunder will be
allocated among Purchaser and the other holders of Securities (if any) pro rata
according to the number of Class A Common Units to be purchased from such
Person.

 

(d)           If
for any reason the Company does not elect to purchase all of the Securities
pursuant to the Repurchase Option, the Investors shall be entitled to exercise
the Repurchase Option for all or any portion of the Securities that the Company
has not elected to purchase (the “Available Securities”). As soon as
practicable after the Company has determined that there will be Available
Securities, but in any event within five months after the Separation, the
Company shall give written notice (the “Option Notice”) to the Investors
setting forth the number and type (i.e., Unvested Carried Common Unit, Vested
Carried Common Unit, Co-Invest Common Unit or Class B Preferred Unit) of
Available Securities and the purchase price(s) for such Available Securities. The
Investors may elect to purchase any or all of the Available Securities by
giving written notice to the Company within six months and 10 days after the
Separation. If the Investors elect to purchase an aggregate number of any type
of the Available Securities that is greater than the number of such type of
Available Securities, the Available Securities of such type shall be allocated
among the Investors based upon the number of Securities owned by each Investor.
As soon as practicable, and in any event within ten days, after the expiration
of the six-month and ten-day period set forth above, the Company shall notify
each holder of Securities as to the number and type of units being purchased
from such holder by the Investors (the “Supplemental Repurchase Notice”).
At the time the Company delivers the Supplemental Repurchase Notice to the
holder(s) of Securities, the Company shall also deliver written notice to each
Investor setting forth the number and type of units such Investor is entitled
to purchase, the aggregate purchase price and the time and place of the closing
of the transaction. The number of Unvested Carried Common Units and Vested
Common Units to be repurchased hereunder shall be allocated among the Company
and the Investors pro rata according to the number of Class A Common Units to
be purchased by each of them.

 

(e)           The
closing of the purchase of the Securities pursuant to the Repurchase Option
shall take place on the date designated by the Company in the Repurchase Notice
or Supplemental Repurchase Notice, which date shall not be more than one month
nor less than five days after the delivery of the later of either such notice
to be delivered. The Company will pay 

 

5

 

for the Securities to be purchased by it pursuant to
the Repurchase Option by first offsetting amounts outstanding under any bona
fide debts owed by Purchaser to the Company, and will pay the remainder of the
purchase price by, at its option, (A) a check or wire transfer of funds, (B) if
the purchase is being made by a corporate successor to the Company, the
issuance of a subordinated promissory note of the Company bearing interest at a
rate equal to such rate as may be determined by the Board (provided that such
rate may not be less than the prime rate (as published in The Wall Street
Journal from time to time)) and having such maturity provisions as the
Company shall determine in good faith, (C) issuing in exchange for such
securities a number of the Company’s Class A Preferred Units (having the rights
and preferences set forth in the LLC Agreement) equal to (x) the aggregate
portion of the repurchase price for such Securities determined in accordance
with this Section 3 to be paid by the issuance of Class A Preferred
Units divided by (y) 1,000, and for purposes of the LLC Agreement each
such Class A Preferred Unit shall as of its issuance be deemed to have Capital
Contributions (as defined in the LLC Agreement) made with respect to such Class
A Preferred Unit equal to $1,000, or (D) any combination of (A), (B) and (C) as
the Board may elect in its discretion. Each Investor will pay for the
Securities purchased by it by a check or wire transfer of funds. The Company
and the Investors will be entitled to receive customary representations and
warranties from the sellers regarding such sale and require that all sellers’
signatures be guaranteed.

 

By way of example only for the purpose of clarifying
the mechanics of clause (C) of Section 3(e), if the Company intends to
repurchase Securities consisting of 3,000,000 Class A Common Units by issuance
of Class A Preferred Units and the aggregate repurchase price for such Class A
Common Units determined in accordance with this Section 3 is $400,500,
then the Company would issue to Purchaser 400.5 Class A Preferred Units, and
for purposes of the LLC Agreement each whole Class A Preferred Unit issued to
Purchaser would as of its issuance be deemed to have Capital Contributions made
for such Class A Preferred Unit of $1,000, and the Capital Contributions made
for the one-half Class A Preferred Unit would be $500.

 

(f)            Notwithstanding
anything to the contrary contained in this Agreement, all repurchases of
Securities by the Company pursuant to the Repurchase Option shall be subject to
applicable restrictions contained in the Delaware Limited Liability Company
Act, the Delaware General Corporation Law or such other governing corporate or
limited liability company law, and in the Company’s and its Subsidiaries’ debt
and equity financing agreements. If any such restrictions prohibit (i) the
repurchase of Securities hereunder which the Company is otherwise entitled or
required to make or (ii) dividends or other transfers of funds from one or more
Subsidiaries to the Company to enable such repurchases, then the Company may
make such repurchases as soon as it is permitted to make repurchases or receive
funds from Subsidiaries under such restrictions.

 

(g)           Notwithstanding
anything to the contrary contained in this Agreement, if the Fair Market Value
of Securities is finally determined to be an amount at least 10% greater than
the per unit repurchase price for such unit of Securities in the Repurchase
Notice or in the Supplemental Repurchase Notice, each of the Company and the
Investors shall have the right to revoke its exercise of the Repurchase Option
for all or any portion of the Securities elected to be repurchased by it by
delivering notice of such revocation in writing to the holders of Securities
during the thirty-day period beginning on the date that the Company and/or the
Investors are given written notice that the Fair Market Value of a unit of
Securities was finally determined to 

 

6

 

be an amount at least 10% greater than the per unit
repurchase price for Securities set forth in the Repurchase Notice or in the
Supplemental Repurchase Notice.

 

(h)           The
provisions of this Section 3 will terminate with respect to all
Securities upon the consummation of a Public Offering or a Sale of the Company.

 

4.             Restrictions on
Transfer of Securities.

 

(a)           Transfer
of Securities. The holders of Securities shall not Transfer any interest in
any Securities, except pursuant to (i) the provisions of Section 3
hereof, (ii) the provisions of Section 2 of the
Securityholders Agreement (a “Participating Sale”), (iii) an
Approved Sale (as defined in Section 4 of the Securityholders
Agreement), or (iv) the provisions of Section 4(b) below.

 

(b)           Certain
Permitted Transfers. The restrictions in this Section 4 will
not apply with respect to any Transfer of Securities made (i) pursuant to
applicable laws of descent and distribution or to such Person’s legal guardian
in the case of any mental incapacity or among such Person’s Family Group, or
(ii) subject to the restrictions on transfer set forth in the Registration
Agreement (including, without limitation, in Section 3 thereof) or any
agreement entered into pursuant thereto, of Class A Common Units at such time
as the Investors sell Class A Common Units in a Public Sale, but in the
case of this clause (ii) only an amount of Class A Common Units (the “Transfer
Amount”) equal to the lesser of (A) the sum of the number of Vested Carried
Common Units and Co-Invest Common Units owned by Purchaser and (B) the product
of (I) the number of Class A Common Units owned by Purchaser and (II) a
fraction (the “Transfer Fraction”), the numerator of which is the number
of Class A Common Units sold by the Investors in such Public Sale and the
denominator of which is the total number of Class A Common Units held by the
Investors prior to such Public Sale; provided that, if at the time of a
Public Sale of units by the Investors, Purchaser chooses not to Transfer the
Transfer Amount, Purchaser shall retain the right to Transfer an amount of
Class A Common Units at a future date equal to the lesser of (x) the sum of the
number of Vested Carried Common Units and Co-Invest Common Units owned by
Purchaser at such future date and (y) the product of the number of Class A
Common Units owned by Purchaser at such future date and the Transfer Fraction; provided
further that the restrictions contained in this Section 4 will
continue to be applicable to the Securities after any Transfer of the type
referred to in clause (i) above and the transferees of such Securities
must agree in writing to be bound by the provisions of this Agreement. Any
transferee of Securities pursuant to a Transfer in accordance with the
provisions of clause (i) of this Section 4(b) is herein referred
to as a “Permitted Transferee.” 
Upon the Transfer of Securities pursuant to this Section 4(b),
the transferring holder of Securities will deliver a written notice (a “Transfer
Notice”) to the Company. In the case of a Transfer pursuant to clause
(i) hereof, the Transfer Notice will disclose in reasonable detail the
identity of the Permitted Transferee(s).

 

(c)           Termination
of Restrictions. The restrictions set forth in this Section 4
will continue with respect to each unit of Securities until the earlier of
(i) the date on which such unit of Securities has been transferred in a
Public Sale permitted by this Section 4, or (ii) the consummation
of a Sale of the Company.

 

7

 

5.             Additional
Restrictions on Transfer of Securities.

 

(a)           Legend.
The certificates representing the Securities will bear a legend in
substantially the following form:

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE
ORIGINALLY ISSUED AS OF APRIL 13, 2006, HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT BE SOLD OR
TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT
OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES REPRESENTED BY
THIS CERTIFICATE ARE ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER,
CERTAIN REPURCHASE OPTIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN AN AMENDED
AND RESTATED SECURITIES PURCHASE AGREEMENT BETWEEN THE COMPANY, THE PURCHASER
OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE AND OTHER PARTIES, DATED AS
OF APRIL 13, 2006, AS AMENDED. A COPY OF SUCH AGREEMENT MAY BE OBTAINED BY THE
HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT CHARGE.”

 

(b)           Opinion
of Counsel. No holder of Securities may Transfer any Securities (except
pursuant to Section 3 or 4(b) of this Agreement, Section 4 of the
Securityholders Agreement or an effective registration statement under the
Securities Act) without first delivering to the Company a written notice
describing in reasonable detail the proposed Transfer, together with an opinion
of counsel (reasonably acceptable in form and substance to the Company) that
neither registration nor qualification under the Securities Act and applicable
state securities laws is required in connection with such transfer. In
addition, if the holder of the Securities delivers to the Company an opinion of
counsel that no subsequent Transfer of such Securities shall require
registration under the Securities Act, the Company shall promptly upon such
contemplated Transfer deliver new certificates for such Securities that do not
bear the Securities Act portion of the legend set forth in Section 5(a).
If the Company is not required to deliver new certificates for such Securities
not bearing such legend, the holder thereof shall not Transfer the same until
the prospective transferee has confirmed to the Company in writing its
agreement to be bound by the conditions contained in this Section 5.

 

GENERAL PROVISIONS

 

6.             Confidential
Information.

 

(a)           Obligation
to Maintain Confidentiality. Purchaser acknowledges that the information,
observations and data (including trade secrets) of a confidential, proprietary
or secret nature obtained by her during the course of her performance under
this Agreement concerning the business or affairs of the Company, Solera, Inc.
and their respective Subsidiaries and Affiliates (“Confidential Information”)
are the property of the Company, Solera, Inc. or such Subsidiaries and
Affiliates, including information concerning acquisition opportunities in or 

 

8

 

reasonably related to the Company’s and Solera, Inc.’s
business or industry of which Purchaser becomes aware during the period in
which Purchaser serves as a manager of the Company and/or a director of any of
its Subsidiaries (the “Service Period”). Purchaser agrees that she will
not disclose to any unauthorized Person or use for her own account any
Confidential Information without the Board’s written consent, unless and to the
extent that the Confidential Information, (i) becomes generally known to and
available for use by the public other than as a result of Purchaser’s acts or
omissions to act, (ii) was known to Purchaser prior to Purchaser’s service for
the Company, Solera, Inc. or any of their Subsidiaries and Affiliates, or (iii)
is required to be disclosed pursuant to any applicable law or court order. Purchaser
shall deliver to the Company at a Separation, or at any other time the Company
may request, all memoranda, notes, plans, records, reports, computer tapes,
printouts and software and other documents and data (and copies thereof)
relating to the Confidential Information, Work Product (as defined below) or
the business of the Company, Solera, Inc. and their respective Subsidiaries and
Affiliates (including, without limitation, all acquisition prospects, lists and
contact information) which she may then possess or have under her control.

 

(b)           Ownership
of Property. Purchaser acknowledges that all discoveries, concepts, ideas,
inventions, innovations, improvements, developments, methods, processes,
programs, designs, analyses, drawings, reports, patent applications,
copyrightable work and mask work (whether or not including any confidential
information) and all registrations or applications related thereto, all other
proprietary information and all similar or related information (whether or not
patentable) that relate to the Company’s, Solera, Inc.’s or any of their
respective Subsidiaries’ or Affiliates’ actual or anticipated business,
research and development, or existing or future products or services and that are
conceived, developed, contributed to, made, or reduced to practice by Purchaser
(either solely or jointly with others) while she serves as a manager of the
Company and/or a director of any of its Subsidiaries (including any of the
foregoing that constitutes any proprietary information or records) (“Work
Product”) belong to the Company, Solera, Inc. or such Subsidiary or
Affiliate and Purchaser hereby assigns, and agrees to assign, all of the above
Work Product to the Company, Solera, Inc. or to such Subsidiary or Affiliate. Any
copyrightable work prepared in whole or in part by Purchaser in the course of
her work for any of the foregoing entities shall be deemed a “work made for
hire” under the copyright laws, and the Company, Solera, Inc. or such Subsidiary
or Affiliate shall own all rights therein. To the extent that any such
copyrightable work is not a “work made for hire,” Purchaser hereby assigns and
agrees to assign to the Company, Solera, Inc. or such Subsidiary or Affiliate
all right, title, and interest, including without limitation, copyright in and
to such copyrightable work. Purchaser shall promptly disclose such Work Product
and copyrightable work to the Board and perform all actions reasonably
requested by the Board (whether during or after the Service Period) to
establish and confirm the Company’s, Solera, Inc.’s or such Subsidiary’s or
Affiliate’s ownership (including, without limitation, assignments, consents,
powers of attorney, and other instruments). Purchaser understands, however,
that there is no obligation being imposed on her to assign to the Company or
any Subsidiary or Affiliate, any invention falling within the definition of
Work Product for which no equipment, supplies, facility, or trade secret
information of the Company or any of its Subsidiaries or Affiliates was used
and that was developed entirely on her own time, unless:  (i) such Work Product relates (A) to the
Company’s, or its Subsidiaries’ or Affiliates’ businesses or (B) to their
actual or demonstrably anticipated research or 
development, or (ii) the Work Product results from any work performed by
her for them under this Agreement. Purchaser has identified on the signature
page to this Agreement all 

 

9

 

Work Product that is or was owned by her or was
written, discovered, made, conceived or first reduced to practice by her alone
or jointly with another person prior to the date hereof. If no such Work
Product is listed, Purchaser represents to the Company that she does not now
nor has she ever owned, nor has she made, any such Work Product.

 

7.             Restrictive
Covenants. Purchaser acknowledges that in the course of her service for the
Company and/or any of its Subsidiaries she will become familiar with the
Company’s, Solera, Inc.’s and their respective Subsidiaries’ trade secrets and
with other confidential information concerning the Company, Solera, Inc. and
such Subsidiaries and that her services will be of special, unique and
extraordinary value to the Company, Solera, Inc. and such Subsidiaries. Therefore,
Purchaser agrees that:

 

(a)           Nonsolicitation.
During the Service Period and for a period of two years thereafter, Purchaser
shall not directly or indirectly through another entity (i) induce or
attempt to induce any employee of the Company, Solera, Inc. or their respective
Subsidiaries to leave the employ of the Company, Solera, Inc. or such
Subsidiary, or in any way interfere with the relationship between the Company,
Solera, Inc. and any of their respective Subsidiaries and any employee thereof
(which restriction shall not preclude placing advertisements in trade
publications or similar general solicitations for employment, so long as such
advertisements or solicitations do not target any employee of the Company,
Solera, Inc. or their respective Subsidiaries), (ii) hire any person who
was an employee of the Company, Solera, Inc. or any of their respective
Subsidiaries within 180 days after such person ceased to be an employee of the
Company, Solera, Inc. or any of their respective Subsidiaries,
(iii) induce or attempt to induce any customer, supplier, licensee or
other business relation of the Company, Solera, Inc. or any of their respective
Subsidiaries to cease doing business with the Company, Solera, Inc. or such
Subsidiary or in any way interfere with the relationship between any such
customer, supplier, licensee or business relation and the Company, Solera, Inc.
and any Subsidiary, in each case, if any such inducement, attempted inducement
or interference would involve, use or rely upon any of the Company’s, Solera,
Inc.’s or any of their respective Subsidiaries’ trade secrets or other
confidential information or (iv) directly or indirectly acquire or attempt
to acquire an interest in any business relating to the business of the Company,
Solera, Inc. or any of their respective Subsidiaries and with which the
Company, Solera, Inc. and any of their respective Subsidiaries has engaged in
discussions regarding the acquisition of an interest in such business or has
requested and received information relating to the acquisition of such business
by the Company, Solera, Inc. or any of their respective Subsidiaries in the two
year period immediately preceding a Separation.

 

(b)           Enforcement.
If, at the time of enforcement of Section 6 or this Section 7,
a court holds that the restrictions stated herein are unreasonable under
circumstances then existing, the parties hereto agree that the maximum
duration, scope or geographical area reasonable under such circumstances shall
be substituted for the stated period, scope or area and that the court shall be
allowed to revise the restrictions contained herein to cover the maximum
duration, scope and area permitted by law. Because Purchaser’s services are
unique and because Purchaser has access to confidential information, the
parties hereto agree that money damages would be an inadequate remedy for any
breach of this Agreement. Therefore, in the event a breach or threatened breach
of this Agreement, the Company, Solera, Inc., their respective Subsidiaries or
their successors or assigns may, in addition to other rights and remedies
existing in their favor, 

 

10

 

apply to any court of competent jurisdiction for
specific performance and/or injunctive or other relief in order to enforce, or
prevent any violations of, the provisions hereof (without posting a bond or
other security).

 

(c)           Additional
Acknowledgments. Purchaser acknowledges that the provisions of this Section
7 are in consideration of: 
(i) her service for the Company and/or any of its Subsidiaries,
(ii) the issuance of the Purchaser Securities by the Company and
(iii) additional good and valuable consideration as set forth in this
Agreement. In addition, Purchaser agrees and acknowledges that the restrictions
contained in Section 6 and this Section 7 do not preclude
Purchaser from earning a livelihood, nor do they unreasonably impose
limitations on Purchaser’s ability to earn a living. In addition, Purchaser
acknowledges (i) that the business of the Company, Solera, Inc. and their
respective Subsidiaries will be conducted throughout the United States and
other jurisdictions where the Company, Solera, Inc. or their respective
Subsidiaries conduct business during the Service Period and (ii) notwithstanding
the state of organization or principal office of the Company, Solera, Inc. or
any of their respective Subsidiaries, or any of their respective executives or
employees (including Purchaser), it is expected that the Company and Solera,
Inc. will have business activities and have valuable business relationships
within its industry throughout the United States and other jurisdictions where
the Company, Solera, Inc. or their respective Subsidiaries conduct business
during the Service Period. Purchaser agrees and acknowledges that the potential
harm to the Company and Solera, Inc. of the non-enforcement of Section 6
and this Section 7 outweighs any potential harm to Purchaser of its
enforcement by injunction or otherwise. Purchaser acknowledges that she has
carefully read this Agreement and has given careful consideration to the
restraints imposed upon Purchaser by this Agreement, and is in full accord as
to their necessity for the reasonable and proper protection of confidential and
proprietary information of the Company and Solera, Inc. now existing or to be
developed in the future. Purchaser expressly acknowledges and agrees that each
and every restraint imposed by this Agreement is reasonable with respect to
subject matter, time period and geographical area.

 

8.             Definitions.

 

“Affiliate” means, (i) with respect to any
Person, any Person that controls, is controlled by or is under common control
with such Person or an Affiliate of such Person, and (ii) with respect to any
Investor, any general or limited partner of such Investor, any employee or
owner of any such partner, or any other Person controlling, controlled by or
under common control with such Investor; it being understood and agreed that
GTCR I and its Affiliates shall for all purposes hereunder shall be Affiliates
of GTCR II.

 

“Board” means the Company’s board of managers.

 

“Cause” means (i) the commission of a
felony or a crime involving moral turpitude or the commission of any other act
or omission involving dishonesty or fraud with respect to the Company, Solera,
Inc. or any of their respective Subsidiaries or any of their customers or
suppliers, (ii) conduct tending to bring the Company, Solera, Inc. or any of
their respective Subsidiaries into substantial public disgrace or disrepute and
(iii) any breach by Purchaser of Sections 6 or 7 of
this Agreement.

 

11

 

“Class A Common Units” means the Class A Common
Units of the Company having the rights and obligations set forth in the LLC
Agreement.

 

“Class B Preferred Units” means the Class B
Preferred Units of the Company having the rights and obligations set forth in
the LLC Agreement.

 

“Fair Market Value” of each unit of Securities
means the average of the closing prices of the sales of such Securities on all
securities exchanges on which such Securities may at the time be listed, or, if
there have been no sales on any such exchange on any day, the average of the
highest bid and lowest asked prices on all such exchanges at the end of such
day, or, if on any day such Securities are not so listed, the average of the
representative bid and asked prices quoted in the NASDAQ System as of
4:00 P.M., New York time, or, if on any day such Securities are not quoted
in the NASDAQ System, the average of the highest bid and lowest asked prices on
such day in the domestic over-the-counter market as reported by the National
Quotation Bureau Incorporated, or any similar successor organization, in each
such case averaged over a period of 21 days consisting of the day as of which
the Fair Market Value is being determined and the 20 consecutive business days
prior to such day. If at any time such Securities are not listed on any
securities exchange or quoted in the NASDAQ System or the over-the-counter
market, the Fair Market Value will be the fair value of such Securities as
determined in good faith by the Board. If Purchaser reasonably disagrees with
such determination, Purchaser shall deliver to the Board a written notice of
objection within ten days after delivery of the Repurchase Notice (or if no
Repurchase Notice is delivered, then within ten days after delivery of the
Supplemental Repurchase Notice). Upon receipt of Purchaser’s written notice of
objection, the Board and Purchaser will negotiate in good faith to agree on
such Fair Market Value. If such agreement is not reached within 30 days after
the delivery of the Repurchase Notice (or if no Repurchase Notice is delivered,
then within 30 days after the delivery of the Supplemental Repurchase Notice),
Fair Market Value shall be determined by an appraiser jointly selected by the
Board and Purchaser, which appraiser shall submit to the Board and Purchaser a
report within 30 days of its engagement setting forth such determination. If
the parties are unable to agree on an appraiser within 45 days after delivery
of the Repurchase Notice or the Supplemental Repurchase Notice, within seven
days, each party shall submit the names of four nationally recognized firms
that are engaged in the business of valuing non-public securities, and each
party shall be entitled to strike two names from the other party’s list of
firms, and the appraiser shall be selected by lot from the remaining four
appraisal firms. The expenses of such appraiser shall be borne by Purchaser
unless the appraiser’s valuation is more than 10% greater than the amount
determined by the Board, in which case the expenses of the appraiser shall be
borne by the Company. In making such appraisal, the appraiser shall determine
the fair value of the Company as a whole without discount for either lack of
control or contractual restrictions on transfer applicable to the Securities. The
determination of such appraiser as to Fair Market Value shall be final and
binding upon all parties.

 

“Family Group” means a Person’s spouse and
descendants (whether natural or adopted), and any trust, family limited
partnership, limited liability company or other entity wholly owned, directly
or indirectly, by such Person or such Person’s spouse and/or descendants that
is and remains solely for the benefit of such Person and/or such Person’s
spouse and/or descendants and any retirement plan for such Person.

 

12

 

“GTCR I” means GTCR Golder Rauner, L.L.C., a
Delaware limited liability company.

 

“GTCR II” means GTCR Golder Rauner II, L.L.C.,
a Delaware limited liability company.

 

“GTCR Co-Invest II” means GTCR Co-Invest II,
L.P., a Delaware limited partnership.

 

“GTCR Fund VIII” means GTCR Fund VIII, L.P., a
Delaware limited partnership.

 

“GTCR Fund VIII/B” means GTCR Fund VIII/B,
L.P., a Delaware limited partnership.

 

“Investors” means GTCR Fund VIII, GTCR Fund
VIII/B, GTCR Co-Invest II, and any other investment fund managed by GTCR I or
GTCR II that at any given time owns securities of the Company.

 

“Letter Agreement” means that certain letter
agreement, dated as of February 7, 2006, among the Company and each of the
individuals party to a Senior Management Agreement (as defined in the LLC
Agreement).

 

“LLC Agreement” means the Limited Liability
Company Agreement of the Company, as amended from time to time pursuant to its
terms.

 

“Original Cost” means, with respect to each
Common Unit purchased under the Prior Securities Purchase Agreement or
hereunder, $0.10 (as proportionately adjusted for all subsequent unit splits,
unit dividends and other recapitalizations).

 

“Person” means an individual, a partnership, a
limited liability company, a corporation, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization, investment
fund, any other business entity and a governmental entity or any department,
agency or political subdivision thereof.

 

“Public Offering” means the sale in an
underwritten public offering registered under the Securities Act of equity
securities of the Company or a corporate successor to the Company.

 

“Public Sale” means (i) any sale pursuant
to a registered public offering under the Securities Act or (ii) any sale
to the public pursuant to Rule 144 promulgated under the Securities Act
effected through a broker, dealer or market maker (other than pursuant to Rule
144(k) prior to a Public Offering).

 

“Purchase Agreement” means the Amended and
Restated Unit Purchase Agreement, to be dated as of April 13, 2006, between the
Company and the Investors, as amended from time to time pursuant to its terms.

 

13

 

“Registration Agreement” means the Registration
Rights Agreement, dated as of April 1, 2005, among the Company and certain of
its securityholders, as amended from time to time pursuant to its terms.

 

“Sale of the Company” means any transaction or
series of related transactions pursuant to which any Person or group of related
Persons other than, except for purposes of Section 2(d), the Investors
or their Affiliates in the aggregate acquire(s) (i) equity securities of
the Company possessing the voting power (other than voting rights accruing only
in the event of a default, breach or event of noncompliance) to elect a
majority of the Board (whether by merger, consolidation, reorganization,
combination, sale or transfer of the Company’s equity, securityholder or voting
agreement, proxy, power of attorney or otherwise) or (ii) all or
substantially all of the Company’s assets determined on a consolidated basis; provided
that a Public Offering shall not constitute a Sale of the Company.

 

“Securities” will continue to be Securities in
the hands of any holder other than Purchaser (except for the Company and the
Investors and except for transferees in a Public Sale), and except as otherwise
provided herein, each such other holder of Securities will succeed to all
rights and obligations attributable to Purchaser as a holder of Securities
hereunder. Securities will also include equity of the Company (or a corporate
successor to the Company or a Subsidiary of the Company) issued with respect to
Securities (i) by way of a unit split, unit dividend, conversion, or other
recapitalization, (ii) by way of reorganization or recapitalization of the
Company in connection with the incorporation of a corporate successor prior to
a Public Offering or (iii) by way of a distribution of securities of a
Subsidiary of the Company to the members of the Company following or with
respect to a Subsidiary Public Offering. Notwithstanding the foregoing, all
Unvested Carried Common Units shall remain Unvested Carried Common Units after
any Transfer thereof.

 

“Securities Act” means the Securities Act of
1933, as amended from time to time.

 

“Securityholders Agreement” means the
Securityholders Agreement, dated as of April 1, 2005, among the Company and
certain of its securityholders, as amended from time to time pursuant to its
terms.

 

“Separation” means Purchaser ceasing to serve
as a manager of the Company or a director of any of its Subsidiaries for any reason.

 

“Solera, Inc.” means Solera, Inc., a Delaware
corporation.

 

“Subsidiary” means, with respect to any Person,
any corporation, limited liability company, partnership, association, or
business entity of which (i) if a corporation, a majority of the total
voting power of shares of stock entitled (without regard to the occurrence of
any contingency) to vote in the election of directors, managers, or trustees
thereof is at the time owned or controlled, directly or indirectly, by that
Person or one or more of the other Subsidiaries of that Person or a combination
thereof, or (ii) if a limited liability company, partnership, association,
or other business entity (other than a corporation), a majority of  partnership or other similar ownership
interest thereof is at the time owned or controlled, directly or indirectly, by
that Person or one or more Subsidiaries of that Person or a combination thereof.

 

14

 

For purposes hereof, a
Person or Persons shall be deemed to have a majority ownership interest in a
limited liability company, partnership, association, or other business entity
(other than a corporation) if such Person or Persons shall be allocated a
majority of limited liability company, partnership, association, or other
business entity gains or losses or shall be or control any managing director or
general partner of such limited liability company, partnership, association, or
other business entity. For purposes hereof, references to a “Subsidiary”
of any Person shall be given effect only at such times that such Person has one
or more Subsidiaries, and, unless otherwise indicated, the term “Subsidiary”
refers to a Subsidiary of the Company.

 

“Subsidiary Public Offering” means the sale in
an underwritten public offering registered under the Securities Act of equity
securities of Solera, Inc. or another Subsidiary of the Company.

 

“Transfer” means to sell, transfer, assign,
pledge or otherwise dispose of (whether with or without consideration and
whether voluntarily or involuntarily or by operation of law).

 

9.             Notices. All
notices, demands or other communications to be given or delivered under or by
reason of the provisions of this Agreement shall be in writing and shall be
deemed to have been given when (i) delivered personally to the recipient, (ii)
sent to the recipient by reputable express courier service (charges prepaid),
(iii) mailed to the recipient by certified or registered mail, return receipt
requested and postage prepaid, or (iv) telecopied to the recipient (with hard
copy sent to the recipient by reputable overnight courier service (charges
prepaid) that same day) if telecopied before 5:00 p.m. Chicago, Illinois time
on a business day, and otherwise on the next business day. Such notices,
demands and other communications shall be sent to the parties at the addresses
indicated below:

 

If to Solera, Inc.:

 

Solera, Inc.

12230 El Camino
Real, Suite 200

San Diego, CA  92130

Attention:  Chief
Executive Officer

Facsimile:  (858) 812-3011

 

with copies to:

 

GTCR Fund VIII, L.P.,
GTCR Fund VIII/B, L.P., and

GTCR Co-Invest II, L.P.

c/o GTCR Golder Rauner
II, L.L.C.

6100 Sears Tower

Chicago, Illinois  60606-6402

Attention: Philip A. Canfield

Craig A. Bondy

Facsimile: (312) 382-2201

 

15

 

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois  60601

Attention:  Stephen
L. Ritchie, P.C.

Facsimile: (312) 861-2200

 

If to the Company:

 

Solera Holdings, LLC

12230 El Camino
Real, Suite 200

San Diego, CA  92130

Attention:  Chief
Executive Officer

Facsimile:  (858) 812-3011

 

with copies to:

 

GTCR Golder Rauner II,
L.L.C.

6100 Sears Tower

Chicago, Illinois  60606-6402

Attention: Philip A.
Canfield

Craig A. Bondy

Facsimile: (312) 382-2201

 

and

 

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois  60601

Attention: Stephen L.
Ritchie, P.C.

Facsimile: (312) 861-2200

 

If to Purchaser:

 

Roxani Gillespie

2450 Hyde Street

San Francisco, CA  94109

Facsimile:  (415) 434-2533

 

16

 

If to the Investors:

 

GTCR Golder Rauner II,
L.L.C.

6100 Sears Tower

Chicago, Illinois  60606-6402

Attention: Philip A.
Canfield

Craig A. Bondy

Facsimile: (312) 382-2201

 

with a copy to:

 

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois  60601

Attention: Stephen L.
Ritchie, P.C.

Facsimile: (312) 861-2200

 

or such other address or
to the attention of such other Person as the recipient party shall have
specified by prior written notice to the sending party.

 

10.           General Provisions.

 

(a)           Transfers
in Violation of Agreement. Any Transfer or attempted Transfer of any
Securities in violation of any provision of this Agreement shall be void, and
the Company shall not record such Transfer on its books or treat any purported
transferee of such Securities as the owner of such equity for any purpose.

 

(b)           Severability.
Whenever possible, each provision of this Agreement will be interpreted in such
manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be invalid, illegal or unenforceable in any
respect under any applicable law or rule in any jurisdiction, such invalidity,
illegality or unenforceability will not affect any other provision or any other
jurisdiction, but this Agreement will be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provision had
never been contained herein.

 

(c)           Complete
Agreement. The Prior Securities Purchase Agreement is amended, restated and
superseded by this Agreement in its entirety; provided that, notwithstanding
the foregoing or anything else to the contrary in this Agreement, nothing
herein shall relieve any party from any liability for any breach prior to the
date hereof of the Prior Securities Purchase Agreement and any provision so
breached shall not be superseded by this Agreement for purposes of actions
taken in connection with such breach and liabilities related thereto and the
rights of the parties hereto under Section 1(e) of the Prior Securities
Purchase Agreement shall survive this amendment and restatement. This
Agreement, those documents expressly referred to herein and other documents of
even date herewith embody the complete agreement and understanding among the
parties and supersede and preempt any prior understandings, agreements or
representations by or among the parties, written or oral, which may have
related to the subject matter hereof in any way, including, but not limited to,
the Letter Agreement.

 

17

 

(d)           No
Strict Construction. The language used in this Agreement shall be deemed to
be the language chosen by the parties hereto to express their mutual intent,
and no rule of strict construction shall be applied against any party.

 

(e)           Counterparts.
This Agreement may be executed in separate counterparts (including by means of
facsimile), each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

 

(f)            Successors
and Assigns. Except as otherwise provided herein, this Agreement shall bind
and inure to the benefit of and be enforceable by Purchaser, the Company, the
Investors and their respective successors and assigns (including subsequent
holders of Securities); provided that the rights and obligations of
Purchaser under this Agreement shall not be assignable except in connection
with a permitted transfer of Securities hereunder.

 

(g)           Choice
of Law. The law of the State of Delaware will govern all questions
concerning the relative rights of the Company and its securityholders. All
other questions concerning the construction, validity and interpretation of
this Agreement and the exhibits hereto will be governed by and construed in
accordance with the internal laws of the State of Delaware, without giving effect
to any choice of law or conflict of law provision or rule (whether of the State
of Delaware or any other jurisdiction) that would cause the application of the
laws of any jurisdiction other than the State of Delaware.

 

(h)           MUTUAL
WAIVER OF JURY TRIAL. BECAUSE
DISPUTES ARISING IN CONNECTION WITH COMPLEX TRANSACTIONS ARE MOST QUICKLY AND
ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH
APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE
PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH
APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF
THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS AGREEMENT HEREBY
WAIVES ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT
TO RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE PARTIES HERETO, WHETHER
ARISING IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH,
RELATED OR INCIDENTAL TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY
AND/OR THE RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER.

 

(i)            Purchaser’s
Cooperation. During the Service Period and thereafter, Purchaser shall
cooperate with the Company, Solera, Inc. and their respective Subsidiaries and
Affiliates in any disputeswith
third parties, internal investigation or administrative, regulatory or judicial
proceeding as reasonably requested by the Company (including, without
limitation, Purchaser being available to the Company upon reasonable notice for
interviews and factual investigations, appearing at the Company’s request to
give testimony without requiring service of a subpoena or other legal process,
volunteering to the Company all pertinent information and turning over to the
Company all relevant documents which are or may come into Purchaser’s
possession, all at times and on schedules that are reasonably consistent with
Purchaser’s other permitted activities and commitments). In the event the
Company requires Purchaser’s cooperation in accordance 

 

18

 

with this paragraph during the Service Period, the
Company shall reimburse Purchaser solely for reasonable travel expenses
(including lodging and meals, upon submission of receipts). In the event the
Company requires Purchaser’s cooperation in accordance with this paragraph
after the Service Period, the Company shall reimburse Purchaser for reasonable
travel expenses (including lodging and meals, upon submission of receipts) and
compensate Purchaser at a reasonable rate for such cooperation, as determined
by mutual agreement of the Company and Purchaser.

 

(j)            Remedies.
Each of the parties to this Agreement (and the Investors as third-party
beneficiaries) will be entitled to enforce its rights under this Agreement specifically,
to recover damages and costs (including attorney’s fees) caused by any breach
of any provision of this Agreement and to exercise all other rights existing in
its favor. The parties hereto agree and acknowledge that money damages may not
be an adequate remedy for any breach of the provisions of this Agreement and
that any party may in its sole discretion apply to any court of law or equity
of competent jurisdiction (without posting any bond or deposit) for specific
performance and/or other injunctive relief in order to enforce or prevent any
violations of the provisions of this Agreement.

 

(k)           Amendment
and Waiver. The provisions of this Agreement may be amended and waived only
with the prior written consent of the Company, Purchaser and the Majority
Holders (as defined in the Purchase Agreement).

 

(l)            Business
Days. If any time period for giving notice or taking action hereunder
expires on a day which is a Saturday, Sunday or holiday in the state in which
the Company’s chief executive office is located, the time period shall be
automatically extended to the business day immediately following such Saturday,
Sunday or holiday.

 

(m)          Indemnification
and Reimbursement of Payments on Behalf of Purchaser. The Company and its
Subsidiaries shall be entitled to deduct or withhold from any amounts owing
from the Company or any of its Subsidiaries to Purchaser any federal, state,
local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”)
imposed with respect to Purchaser’s compensation or other payments from the
Company or its Subsidiaries or Purchaser’s ownership interest in the Company,
including, without limitation, wages, bonuses, dividends, the receipt or
exercise of equity options and/or the receipt or vesting of restricted equity. In
the event the Company or its Subsidiaries does not make such deductions or
withholdings, Purchaser shall indemnify the Company and its Subsidiaries for
any amounts paid with respect to any such Taxes, together with any interest,
penalties and related expenses thereto.

 

(n)           Termination.
This Agreement shall survive a Separation and shall remain in full force and
effect after such Separation.

 

(o)           Adjustments
of Numbers. All numbers set forth herein that refer to unit prices or
amounts will be appropriately adjusted to reflect unit splits, unit dividends,
combinations of units and other recapitalizations affecting the subject class
of equity.

 

(p)           Deemed
Transfer of Securities. If the Company (and/or the Investors and/or any
other Person acquiring securities) shall make available, at the time and place
and in the amount and form provided in this Agreement, the consideration for
the Securities to be 

 

19

 

repurchased in accordance with the provisions of this
Agreement, then from and after such time, the Person from whom such units are
to be repurchased shall no longer have any rights as a holder of such units
(other than the right to receive payment of such consideration in accordance
with this Agreement), and such units shall be deemed purchased in accordance
with the applicable provisions hereof and the Company (and/or the Investors
and/or any other Person acquiring securities) shall be deemed the owner and
holder of such units, whether or not the certificates therefor have been
delivered as required by this Agreement.

 

(q)           No
Pledge or Security Interest. The purpose of the Company’s retention of
Purchaser’s certificates and executed security powers is solely to facilitate
the provisions set forth in Section 3 herein and Section 4 of the
Securityholders Agreement and does not by itself constitute a pledge by
Purchaser of, or the granting of a security interest in, the underlying equity.

 

(r)            Rights
Granted to GTCR and its Affiliates. Any rights granted to GTCR and its
Affiliates hereunder may also be exercised (in whole or in part) by their
designees.

 

(s)           Subsidiary
Public Offering. If, after consummation of a Subsidiary Public Offering,
the Company distributes securities of such Subsidiary to members of the Company,
then such securities will be treated in the same manner as (but excluding any “preferred”
features of the units with respect to which they were distributed) the units
with respect to which they were distributed for purposes of Sections 1, 2,
3, 4 and 5 hereof.

 

(t)            Delivery
by Facsimile. This Agreement, the agreements referred to herein, and each
other agreement or instrument entered into in connection herewith or therewith
or contemplated hereby or thereby, and any amendments hereto or thereto, to the
extent signed and delivered by means of a facsimile machine, shall be treated
in all manner and respects as an original agreement or instrument and shall be
considered to have the same binding legal effect as if it were the original
signed version thereof delivered in person. At the request of any party hereto
or to any such agreement or instrument, each other party hereto or thereto
shall reexecute original forms thereof and deliver them to all other parties. No
party hereto or to any such agreement or instrument shall raise the use of a
facsimile machine to deliver a signature or the fact that any signature or
agreement or instrument was transmitted or communicated through the use of a
facsimile machine as a defense to the formation or enforceability of a contract
and each such party forever waives any such defense.

 

(u)           Deemed
Senior Management Agreement. Notwithstanding anything in the LLC Agreement,
the Purchase Agreement, the Securityholders Agreement or the Registration
Agreement to the contrary, this Agreement shall be deemed to be a “Senior
Management Agreement” for the purposes of such agreements.

 

*     *    
*     *     *

 

20

 

IN WITNESS WHEREOF, the parties hereto have executed
this Amended and Restated Securities Purchase Agreement on the date first above
written.

 

 

	
   

  	
  SOLERA
  HOLDINGS, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  
	
   

  	
  Name:

  	
  Tony Aquila

  
	
   

  	
  Its:

  	
  Chief Executive
  Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  /s/ Roxani Gillespie

  
	
   

  	
  ROXANI
  GILLESPIE

  

 

 

Signature Page to Amended
and Restated Securities Purchase Agreement of Roxani Gillespie

 

21

 

Agreed and Accepted:

THE INVESTORS:

 

	
  GTCR FUND VIII, L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  GTCR Partners VIII,
  L.P.

  	
   

  
	
  Its:

  	
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  	
   

  
	
  Its:

  	
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  	
   

  
	
  Its:

  	
  Principal

  	
   

  
	
   

  	
   

  	
   

  
	
  GTCR FUND VIII/B, L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  GTCR Partners VIII,
  L.P.

  	
   

  
	
  Its:

  	
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  	
   

  
	
  Its:

  	
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  	
   

  
	
  Its:

  	
  Principal

  	
   

  
	
   

  	
   

  	
   

  
	
  GTCR CO-INVEST II, L.P.

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  	
   

  
	
  Its:

  	
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  	
   

  
	
  Its:

  	
  Principal

  	
   

  

 

 

Signature Page to Amended
and Restated Securities Purchase Agreement of Roxani Gillespie

 

22

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