Document:

Document

EXECUTION VERSION

AMENDMENT NO. 1 TO
RIGHTS AGREEMENT
This AMENDMENT NO. 1 TO RIGHTS AGREEMENT (this “Amendment”) is dated as of November 16, 2020 (the “Effective Date”) and amends that certain Rights Agreement, dated as of April 3, 2020 (the “Rights Agreement”), by and between Commvault Systems, Inc., a Delaware corporation (the “Company”), and Computershare Trust Company, N.A., a federally chartered trust company, as rights agent (the “Rights Agent”).  Capitalized terms used in this Amendment and not otherwise defined herein have the meaning(s) given to them in the Rights Agreement.
RECITALS
WHEREAS, in accordance with Section 27 of the Rights Agreement, for so long as the Rights are then redeemable, the Company may in its sole and absolute discretion amend the Rights Agreement in any respect without the approval of any holders of the Rights; and
WHEREAS, the Rights Agent is hereby directed by the Company to join in this Amendment.
AGREEMENT
NOW, THEREFORE, in consideration of the premises and the mutual agreements set forth herein, the parties hereto hereby agree as follows:
1. Amendment of the Rights Agreement.
(a) Section 1(a) of the Rights Agreement is hereby amended by replacing such Section 1(a) in its entirety with the following:
“Acquiring Person” shall mean any Person (as such term is hereinafter defined) who or which, together with all Affiliates and Associates of such Person, shall be the Beneficial Owner (as such term is hereinafter defined) of 10% or more of the shares of Common Stock then outstanding, but shall not include (i) an Exempt Person (as such term is hereinafter defined), (ii) a Passive Institutional Investor (as such term is hereinafter defined), so long as, in the case of this clause (ii), such Person is not the Beneficial Owner of 20% or more of the shares of Common Stock then outstanding, but subject to the provisions in the definition of “Passive Institutional Investor” or (iii) Starboard (as such term is hereinafter defined), so long as, in the case of this clause (iii), Starboard is not the Beneficial Owner of 15% or more of the shares of Common Stock then outstanding; provided, however, that

2

(i)    if the Board of Directors of the Company determines that a Person who would otherwise be an “Acquiring Person” became the Beneficial Owner of a number of shares of Common Stock such that the Person would otherwise qualify as an “Acquiring Person” inadvertently (including because (A) such Person was unaware that it beneficially owned that number of shares of Common Stock that would otherwise cause such Person to be an “Acquiring Person” or (B) such Person was aware of the extent of its Beneficial Ownership of Common Stock but had no actual knowledge of the consequences of such Beneficial Ownership under this Agreement) and without any intention of obtaining, changing or influencing control of the Company, then such Person shall not be deemed to be or to have become an “Acquiring Person” for any purposes of this Agreement unless and until such Person shall have failed to divest itself, as soon as practicable (as determined by the Board of Directors of the Company), of Beneficial Ownership of a sufficient number of shares of Common Stock so that such Person would no longer otherwise qualify as an “Acquiring Person”; 
(ii)    if, as of the date hereof or prior to the first public announcement of the adoption of this Agreement, any Person (together with its Affiliates and Associates) is or becomes the Beneficial Owner of 10% (20% in the case of a Passive Institutional Investor) or more of the shares of Common Stock outstanding, such Person shall not be deemed to be or to become an “Acquiring Person” unless and until such time as such Person shall, after the first public announcement of the adoption of this Agreement, become the Beneficial Owner of any additional shares of Common Stock (other than pursuant to a dividend or distribution paid or made by the Company on the outstanding Common Stock or pursuant to a split or subdivision of the outstanding Common Stock) that would cause such Person’s Beneficial Ownership of the Common Stock outstanding to exceed by any amount such Person’s Beneficial Ownership as of the date of this Agreement, in which case such Person will become an Acquiring Person;
(iii)    no Person shall become an “Acquiring Person” solely as a result of any unilateral grant of any security by the Company or through the exercise of any options, warrants, rights or similar interests (including restricted stock) granted by the Company to its directors, officers and employees; 
(iv)    no Person shall become an “Acquiring Person” solely as the result of an acquisition of shares of Common Stock by 

3

the Company which, by reducing the number of shares of Common Stock outstanding, increases the proportion of the shares of Common Stock beneficially owned by such Person to 10% (15% in the case of Starboard or 20% in the case of a Passive Institutional Investor) or more of the Common Stock then outstanding; provided, however, that if a Person shall become the Beneficial Owner of 10% (15% in the case of Starboard or 20% in the case of a Passive Institutional Investor) or more of the shares of Common Stock then outstanding by reason of such share acquisitions by the Company and shall thereafter become the Beneficial Owner of any additional shares of Common Stock (other than pursuant to a dividend or distribution paid or made by the Company on the outstanding Common Stock or pursuant to a split or subdivision of the outstanding Common Stock), then such Person shall be deemed to be an “Acquiring Person” unless, upon becoming the Beneficial Owner of such additional shares of Common Stock, such Person does not beneficially own 10% (15% in the case of Starboard or 20% in the case of a Passive Institutional Investor) or more of the shares of Common Stock then outstanding; and
(v)    no Person shall become an “Acquiring Person” solely as the result of the acquisition by such Person of Beneficial Ownership of shares of Common Stock from an individual who, on the later of the date hereof and the first public announcement of this Agreement, is the Beneficial Owner of 10% (15% in the case of Starboard or 20% in the case of a Passive Institutional Investor) or more of the Common Stock then outstanding if such shares of Common Stock are received by such Person upon such individual’s death pursuant to such individual’s will or pursuant to a charitable trust created by such individual for estate planning purposes unless and until such time as such Person shall become the Beneficial Owner of any additional shares of Common Stock (other than pursuant to a dividend or distribution paid or made by the Company on the outstanding Common Stock or pursuant to a split or subdivision of the outstanding Common Stock), unless, upon becoming the Beneficial Owner of such additional shares of Common Stock, such Person is not then the Beneficial Owner of 10% (15% in the case of Starboard or 20% in the case of a Passive Institutional Investor) or more of the shares of Common Stock then outstanding. 
With respect to any Person, for all purposes of this Agreement, any calculation of the number of shares of Common Stock outstanding at any particular time, including for purposes of determining the particular percentage of the outstanding shares of Common Stock of which such Person is the Beneficial Owner, shall include the number of shares of 

4

Common Stock not outstanding at the time of such calculation that such Person is otherwise deemed to beneficially own for purposes of this Agreement, but the number of shares of Common Stock not outstanding that such Person is otherwise deemed to beneficially own for purposes of this Agreement shall not be included for the purpose of computing the percentage of the outstanding shares of Common Stock beneficially owned by any other Person (unless such other Person is also otherwise deemed to beneficially own for purposes of this Agreement such shares of Common Stock not outstanding).
(b) Section 1 of the Rights Agreement is hereby amended by adding the following new defined term:
“Starboard” shall mean, collectively, (i) Starboard Value and Opportunity Master Fund Ltd, (ii) Starboard Value and Opportunity S LLC, (iii) Starboard Value and Opportunity C LP, (iv) Starboard Value R LP, (v) Starboard Value and Opportunity Master Fund L LP, (vi) Starboard Value L LP, (vii) Starboard Value LP, (viii) Starboard Value GP LLC, (ix) Starboard Principal Co LP, (x) Starboard Principal Co GP LLC, (xi) Starboard Value R GP LLC, (xii) Starboard X Master Fund Ltd, (xiii) Jeffrey C. Smith, (xiv) Peter A. Feld, and (xv) any Starboard managed affiliate or Starboard managed account that may join the Starboard Schedule 13D group following the date of this Amendment.
2. Amendment of Exhibits.  The exhibits to the Rights Agreement shall be deemed to be amended to reflect this Amendment, including all conforming changes.
3. Other Amendment; Effect of Amendment.  Except as, and to the extent, expressly modified by this Amendment, the Rights Agreement and the exhibits thereto remain in full force and effect in all respects without any modification.  This Amendment will be deemed an amendment to the Rights Agreement and will become effective on the Effective Date.  In the event of a conflict or an inconsistency between this Amendment and the Rights Agreement and the exhibits thereto, the provisions of this Amendment will govern.
4. Counterparts.  This Amendment may be executed in any number of counterparts and each of such counterparts will for all purposes be deemed to be an original, and all such counterparts will together constitute one and the same instrument, it being understood that all parties need not sign the same counterpart.  A signature to this Amendment executed and/or transmitted electronically (including by .pdf) will have the same authority, effect and enforceability as an original signature.  No party hereto may raise the use of such electronic transmission to deliver a signature, or the fact that any signature or agreement or instrument was transmitted or communicated through such electronic transmission, as a defense to the formation of a contract, and each party hereto forever waives any such defense, except to the extent that such defense relates to lack of authenticity. 

5

5. Severability.  If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Amendment will remain in full force and effect and will in no way be affected, impaired or invalidated.
6. Descriptive Headings; Interpretation.  The descriptive headings of the several Sections of this Amendment are inserted for convenience only and will not control or affect the meaning or construction of any of the provisions hereof. The words “include,” “includes” and “including” shall be deemed to be followed by the phrase “without limitation.”
7. Further Assurances.  Each of the parties to this Amendment will reasonably cooperate and take such action as may be reasonably requested by the other party in order to carry out the provisions and purposes of this Amendment, the Rights Agreement and the transactions contemplated hereunder and thereunder.
8. Governing Law.  This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts made and to be performed entirely within such State.
[Signature page follows.]
 

IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed as of the Effective Date.
 
									
			
	COMMVAULT SYSTEMS, INC.
		
	By:		/s/ Warren H. Mondschein
		 	Name: Warren H. Mondschein
		 	Title: VP, General Counsel and Secretary

 
									
			
	COMPUTERSHARE TRUST COMPANY, N.A.
		
	By:		/s/ Kathleen Whelpy
		 	Name: Kathleen Whelpy
		 	Title: Manager, Relationship Management

[Signature Page to Amendment No. 1 to Rights Agreement]Exhibit
10.8

 

ASSIGNMENT
AGREEMENT

 

THIS
ASSIGNMENT AGREEMENT (this “Agreement”) is made and entered into on the 20th day of July, 2020 (the
“Effective Date”), by and between GEH Capital, LLC a Delaware limited liability company (“Assignor”),
and Adara Enterprises Corp. (f/k/a Imation Enterprises Corp.), a Delaware corporation (“Assignee”).

 

In
consideration of the mutual covenants contained herein, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree as follows:

 

ARTICLE
I

DEFINITIONS

 

In
addition to the terms defined elsewhere in this Agreement, the following terms shall have the meanings set forth in this
Article I for the purposes of this Agreement:

 

1.1.
“Encumbrance” means any mortgage or deed of trust, pledge, hypothecation, assignment, deposit arrangement,
lien, charge, claim, security interest, easement or encumbrance, or preference, priority or other security agreement or preferential
arrangement of any kind or nature whatsoever (including, without limitation, any title retention agreement, any financing lease
having substantially the same economic effect as any of the foregoing, and the filing of, or agreement to give, any financing
statement perfecting a security interest as to assets owned by the relevant person or entity under the Uniform Commercial Code
or comparable law of any jurisdiction).

 

1.2.
“Intellectual Property Rights” means, collectively, (a) all patent rights and all rights, title and
interest in all letters patent, design patents, utility models, or equivalent or similar rights and applications, including any
reissue, continuation, division, continuation-in-part, revision, extension applications thereof; (b) all copyrights, and all rights,
title and interest in all copyrights, copyright registrations and applications for copyright registration, certificates of copyright
and copyrighted interests; (c) all mask work rights, and all rights, title and interest in all mask work rights, mask work right
registrations, and applications for mask work right registration, certificate of mask work rights; (d) all right, title and interest
in all trade secrets and trade secret rights; and (e) all other intellectual property, proprietary and moral rights, including
without limitation all trademarks, trade names, brands and logos, together with any associated business goodwill.

 

1.3.
“Proprietary Software” means Assignor’s proprietary quantitative trading software in object code
and source code form, and all related operating systems and specifications, databases, database management code, utilities, applications,
menus, images, icons, forms, engines, platforms, algorithms, compilers, applets, subroutines, development tools, design tools,
user interfaces and documentation, including all developer notes, comments and annotations.

 

ARTICLE
II

ASSIGNMENT
AND OWNERSHIP

 

2.1.
Assignment. Assignor hereby irrevocably and unconditionally transfers, conveys and assigns to Assignee, free and clear
of all Encumbrances, all rights, title and interest in, to and under (a) the Proprietary Software together with all Intellectual
Property Rights therein or thereto, whether or not registered or registrable, including, without limitation, the right to modify,
translate, arrange, transform, revise or adapt the Proprietary Software to create derivative works and the right to utilize such
derivative works; (b) all causes of action (whether known or unknown or whether currently pending, filed, or otherwise) and other
enforcement rights under, or on account of, any of the foregoing whether before or hereafter accrued, including, without limitation,
all causes of action and other enforcement rights for (i) damages, (ii) injunctive relief, and (iii) any other remedies of any
kind for past, current and future infringement; and (c) all benefits and privileges under or on account of any of the foregoing,
including the right to collect royalties or other payments due or payable on or after the Effective Date, all of the foregoing
to be held by Assignee for Assignee’s own use and enjoyment, and for the use and enjoyment of Assignee’s successors,
assigns and other legal representatives, as fully and entirely as the same would have been held and enjoyed by such Assignor if
this Assignment had not been made. Assignor shall not retain any rights whatsoever to use or claim ownership of the Proprietary
Software or any Intellectual Property Rights therein or thereto, and Assignor agrees not to challenge the validity of Assignee’s
exclusive ownership, file applications or registrations thereof, or take any other actions inconsistent with Assignee’s
ownership of the Proprietary Software or Intellectual Property Rights therein or thereto.

 

    	1

     

    

 

2.2.
Ownership of Derivative Works. Assignor hereby acknowledges and agrees that Assignee shall own all rights, title and interest
in and to any modifications, translations, arrangements, transformations, revisions, adaptations or other derivative works or
inventions, materials or works of authorship prepared, developed or created by Assignee based on all or any portion of the Proprietary
Software, including, without limitation, all Intellectual Property Rights therein or thereto.

 

2.3.
Further Actions; Waiver of Moral Rights. Assignor shall (a) promptly deliver to Assignee all forms and other documents
reasonably requested by Assignee to assign, and perfect the assignment of, all rights, title and interest in the Proprietary Software
including all Intellectual Property Rights therein or thereto, (b) waive, and hereby does waive, any “moral” rights
with respect to the Proprietary Software, including but not limited to rights of attribution and integrity arising from all or
any part of the copyrights included in the Proprietary Software, together with all claims for damages and other remedies asserted
on the basis of moral rights, and transfers, conveys and assigns unto Assignee any waivers granted to such Assignor of any such
moral rights, in each case, to fullest extent permitted by applicable laws, and (c) provide any cooperation and perform any other
acts as may be reasonably necessary or appropriate, in the opinion of Assignee’s counsel and at Assignee’s expense,
to assign and convey to Assignee all rights, title and interests in the Proprietary Software including all Intellectual Property
Rights therein or thereto.

 

ARTICLE
III

PAYMENT

 

3.1.
In consideration of the rights, title and interests assigned herein by Assignor, Assignee shall pay to Assignor one million seven
hundred fifty thousand dollars ($1,750,000) in full satisfaction of Assignee’s monetary obligations under this Agreement.

 

ARTICLE
IV

REPRESENTATIONS
AND WARRANTIES OF ASSIGNOR

 

Assignor
hereby represents, warrants and covenants to Assignee as follows:

 

4.1.
Organization, Standing and Power. Assignor is duly organized, validly existing and in good standing under the laws of the
State of Delaware and has all necessary power and authority to carry on its business as now owned and operated by it.

 

4.2.
Authority. Assignor has all requisite power and authority to execute and deliver this Agreement and all other agreements
and documents to be executed and delivered by Assignor in connection with the consummation of the transactions contemplated by
this Agreement and to perform the transactions contemplated hereby and thereby. The execution, delivery and performance of, and
the consummation of the transactions contemplated by, this Agreement, have been duly and validly authorized by all necessary action
on the part of Assignor. This Agreement has been duly executed and delivered by or on behalf of Assignor and constitutes the valid
and binding obligation of Assignor, enforceable against Assignor.

 

4.3.
No Conflict or Breach. The execution, delivery and performance of this Agreement and the consummation of the transactions
contemplated hereby do not and will not: (a) conflict with or constitute a violation of the certificate of formation, limited
liability company agreement, operating agreement or other organizational documents of Assignor; (b) conflict with or violate any
law, statute, judgment, order, decree or regulation of any legislative body, court or administrative agency, governmental authority
or arbitrator applicable to or relating to either Assignor; or (c) conflict with or constitute a breach or default under any agreement
or contract by which either Assignor is bound.

 

    	2

     

    

 

4.4.
Good Faith. Assignor is acting in good faith and is not entering into this Agreement and the transactions contemplated
hereunder with the intent to hinder, delay or defraud any person to which it is, or may become, indebted. 

 

4.5.
Intellectual Property Rights.

 

4.5.1.
Assignor is not legally bound by any agreement: (a) assigning, or granting any licenses under, any Proprietary Software or
any Intellectual Property Rights related thereto; or (b) limiting, restricting, or prohibiting in any manner the use of the
Proprietary Software or any Intellectual Property Rights related thereto; or (c) imposing any other obligations or
liabilities of any type or in any manner with respect to all or any part of the Proprietary Software or any Intellectual
Property Rights related thereto.

 

4.5.2.
The Proprietary Software is original and does not violate, infringe, or misappropriate any rights owned or held by a third
party.

 

4.5.3.
As the result of the transactions contemplated hereby, Assignee will, immediately after the completion thereof, own all
right, title and interest in and to the Proprietary Software and all Intellectual Property Rights therein, free and clear of
any Encumbrances whatsoever.

 

ARTICLE
V

GENERAL

 

5.1.
Indemnification. Assignor shall indemnify, defend, and hold harmless Assignee, its affiliates, and its and their officers,
directors, employees, attorneys, consultants and agents (collectively, the “Indemnitees”) from and against
any and all claims, losses, damages, liabilities, obligations, penalties, fees, costs and expenses (including, without limitation,
reasonable attorneys’ fees, costs and expenses) incurred by such Indemnitees, whether prior to or from and after the date
hereof, whether direct, indirect or consequential, as a result of or arising from or relating to the Proprietary Software, or
any acts or omissions of Assignor or its officers, directors, employees, attorneys, consultants or agents in breach of any representation,
warranty, covenant, obligation or agreement of Assignor set forth in the Agreement.

 

5.2.
Effect of Headings. The subject headings of the Articles and Sections of this Agreement are included for purposes of convenience
only, and shall not affect the construction or interpretation of any of the provisions hereof.

 

5.3.
Entire Agreement; Modification. This Agreement, together with any Exhibits furnished hereunder (which are hereby incorporated
into and made part of this Agreement), constitute the sole and entire agreement among the parties pertaining to the subject matter
contained herein, and supersedes all prior and contemporaneous agreements, representations, negotiations and understandings of
the parties. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing by both parties.

 

5.4.
Waiver. Each party hereto may waive, in writing, compliance by the other party with any of the covenants or conditions
contained in this Agreement, except those conditions imposed by law. No act, failure to act, practice or custom shall constitute
an implied waiver of full compliance with any of the provisions hereof. The granting of a written waiver pursuant to this Section
shall apply, unless expressly set forth therein to the contrary, only to the specific incident of noncompliance with the specific
provisions of this Agreement set forth therein.

 

5.5.
Counterparts. This Agreement may be executed simultaneously in one or more counterparts, each of which shall be deemed
an original, but all of which together shall constitute one and the same instrument. A party may execute this Agreement and transmit
its signature by facsimile, which shall be fully binding, and the party taking such actions shall deliver a manually signed original
as soon as is practicable.

 

5.6.
Binding Effect. This Agreement shall be binding on, and shall inure to the benefit of, the parties hereto and their respective
successors and permitted assigns. 

 

    	3

     

    

 

5.7.
Successors and Assigns. Assignee may assign this Agreement to a third party without the express permission of either Assignor;
provided, however, that any such assignment is binding on any such third party. Assignor may not assign this Agreement without
Assignee’s prior consent (not to be unreasonably withheld).

 

5.8.
Further Assurances. Each party shall cooperate and take such action as may be reasonably requested by the other party in
order to carry out the provisions and purposes of this Agreement and the transactions contemplated hereby.

 

5.9.
Choice of Law; Forum. This Agreement shall be governed by, and construed in accordance with, the internal laws of the State
of New York, without regard to principles of conflicts of law. Each of Assignor and Assignee hereby submits to the exclusive jurisdiction
of any New York State or Federal court sitting in New York City in any action or proceeding arising out of or relating to this
Agreement.

 

IN
WITNESS WHEREOF, each of the parties hereto has signed this Agreement or has caused the same to be signed by its duly
authorized officer to be effective as of the Effective Date.

 

	 	GEH
    Capital (“Assignor”)
	 	 
	 	By:	 
	 	Name:	George
    Hall
	 	Title:	President
	 	Date:	July
    20, 2020
	 	 	 
	 	Adara
    Enterprises Corp. (“Assignee”)
	 	 	 
	 	By:	
	 	Name:	Daniel
    Strauss
	 	Title:	President
	 	Date:	July
    20, 2020

 

    	4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00317-of-00352.parquet"}]]