Document:

Exhibit
10.11

 

AMENDED
AND RESTATED

UNIT PURCHASE AGREEMENT

 

THIS
AMENDED AND RESTATED UNIT PURCHASE AGREEMENT (this “Agreement”)
is made as of April 13, 2006, by and among Solera Holdings, LLC, a
Delaware limited liability company (the “Company”), GTCR Fund VIII,
L.P., a Delaware limited partnership (“Fund VIII”), GTCR Fund VIII/B,
L.P., a Delaware limited partnership (“Fund VIII/B”), and GTCR Co-Invest
II, L.P., a Delaware limited partnership (“GTCR Co-Invest”). Each of
Fund VIII, Fund VIII/B and GTCR Co-Invest, together with any investment fund
managed by GTCR Golder Rauner, L.L.C., a Delaware limited liability company (“GTCR I”),
or GTCR Golder Rauner II, L.L.C., a Delaware limited liability company (“GTCR II”),
that at any time executes a counterpart of this Agreement or otherwise agrees
to be bound by this Agreement shall be referred to herein as an “Investor”
and, collectively, as the “Investors”. Except as otherwise indicated
herein, capitalized terms used herein are defined in Section 6
hereof.

 

On April 1, 2005,
pursuant to the Unit Purchase Agreement, dated as of April 1, 2005, by and
among the Company and the Investors (the “Prior Unit Purchase Agreement”),
the Investors purchased from the Company (i) 1,000 of its Class B
Preferred Units (as defined in the LLC Agreement (as defined below)) (the “Class B
Preferred Units”) and (ii) 40,000,000 of its Class A Common Units
(as defined in the LLC Agreement) (the “Class A Common Units”),
each having the rights and preferences set forth in Exhibit B
attached hereto. On the date hereof, pursuant to the terms and conditions of
this Agreement, the Investors will purchase 199,640.000 Class B Preferred
Units and 43,600,000 Class A Common Units. All Class B Preferred
Units and Class A Common Units owned by the Investors or acquired by the
Investors in accordance with the terms of this Agreement are referred to herein
as “Securities”.

 

The Company and the
Investors desire to amend and restate the Prior Unit Purchase Agreement in its
entirety to reflect the transactions contemplated hereby.

 

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 Unit Purchase Agreement hereby agree to
amend and restate the Prior Unit Purchase Agreement in its entirety as follows
and all parties hereto hereby agree as follows:

 

Section  1.              Authorization and Purchase and
Sale.

 

1A.          Authorization of the Securities.
The Company shall authorize the issuance and sale to the Investors of
199,640.000Class B Preferred
Units and 43,600,000 Class A Common Units.

 

1B.          Purchase and Sale of the Securities.

 

(a)           Pursuant to the Prior Unit Purchase
Agreement, on April 1, 2005, the Investors purchased, and the Company
sold, (i) 1,000 Class B Preferred Units at a price of $1,000.00 per
unit and (ii) 40,000,000 Class A Common Units at a price of $0.10 per
unit. On such date, the Company delivered to the Investors a copy of the
certificates evidencing such

 

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Securities, and the Investors delivered to the Company
an aggregate amount equal to $5,000,000.00 as payment for such Securities.

 

(b)           On the date hereof, the Investors
will purchase, and the Company will sell, 199,640Class B Preferred Units at a price of $1,000.00 per unit
and 43,600,000 Class A Common Units at a price of $0.10 per unit. Each
Investor shall purchase the percentage of such Securities set forth next to
such Investor’s name on the Schedule of Investors attached hereto
by payment of the aggregate purchase price thereof by wire transfer of
immediately available funds to such account as is designated by the Company. The
closing of the purchase and sale of the Class B Preferred Units and the Class A
Common Units shall take place at the offices of Kirkland & Ellis LLP,
200 East Randolph Drive, Chicago, Illinois 60601 at 10:00 a.m. on the date
hereof. The proceeds from the sale of such Securities may be used by the
Company and its Subsidiaries for the consummation of the acquisition of the
Claims Services Group of Automatic Data Processing, Inc., for organic
growth and for general company purposes.

 

Section  2.              Conditions of the Investors’
Obligation. The obligation of each Investor to purchase and pay for the
Securities to be purchased by it on the date hereof is subject to the
satisfaction as of the date hereof of the following conditions:

 

2A.          Representations and Warranties;
Covenants. The representations and warranties contained in Section 5
hereof shall be true and correct on the date hereof, except to the extent of
changes caused by the transactions expressly contemplated herein, and the
Company shall have performed in all material respects all of the covenants
required to be performed by it hereunder prior to the date hereof.

 

2B.          Certificate of Formation. On or
prior to April 1, 2005, the Company’s certificate of formation, a copy of
which is attached hereto as Exhibit A (the “Certificate of
Formation”), was filed with the Secretary of State of the State of Delaware
and the Certificate of Formation shall be in full force and effect under the
laws of the State of Delaware as of the date hereof and shall not have been
amended or modified.

 

2C.          Limited Liability Company Agreement.
On April 1, 2005, the Company and the members of the Company entered into
a Limited Liability Company Agreement, a copy of which is attached hereto as Exhibit B
(as amended, the “LLC Agreement”), and the LLC Agreement shall be in
full force and effect as of the date hereof.

 

2D.          Senior Management Agreements. On
April 1, 2005, the Company and Solera, Inc. entered into a Senior
Management Agreement (the “Initial Senior Management Agreement”) with
Tony Aquila (“Executive”). On April 11, 2005, the Company and, in
certain instances, Solera, Inc. entered into Senior Management Agreements
with certain other employees and managers of the Company. On the date hereof,
the Company, Solera, Inc. and Executive shall have entered into an Amended
and Restated Senior Management Agreement, in form and substance substantially
similar to Exhibit C attached hereto (the “Restated Senior
Management Agreement”), and Executive shall have purchased the securities
proposed to be purchased by him under the Restated Senior Management Agreement.
Further, on the date hereof, the Company, Solera, Inc. (in certain
instances) and certain other employees and managers of the Company shall have
entered into amended and restated Senior Management Agreements, in form and

 

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substance substantially
satisfactory to the Investors, and such employees and managers shall have
purchased the securities proposed o be purchased by them under the such amended
and restated Senior Management Agreements.

 

2E.           Securityholders Agreement. On April 1,
2005, the Company, the Investors and Executive entered into a securityholders
agreement, a copy of which is attached hereto as Exhibit D (as
amended, the “Securityholders Agreement”), and the Securityholders
Agreement shall be in full force and effect as of the date hereof.

 

2F.           Registration Agreement. On April 1,
2005, the Company, the Investors and Executive shall have entered into a
registration rights agreement, a copy of which is attached hereto as Exhibit E
(as amended, the “Registration Agreement”), and the Registration
Agreement shall be in full force and effect as of the date hereof.

 

2G.          Professional Services Agreement.
On April 1, 2005, Solera, Inc. and GTCR II entered into a
professional services agreement, a copy of which is attached hereto as Exhibit F
(the “Professional Services Agreement”), and the Professional Services
Agreement shall be in full force and effect as of the date hereof.

 

2H.          Closing Documents. The Company
shall have delivered to the Investors all of the following documents:

 

(a)           an Officer’s Certificate, dated the
date of the date hereof, stating that the conditions specified in Section 1
and Sections 2A through 2G, inclusive, have been fully satisfied;

 

(b)           certified copies of the resolutions
duly adopted by the Board and/or the board of directors of Solera, Inc.,
as appropriate, authorizing the execution, delivery and performance of this
Agreement, the Senior Management Agreements and each of the other agreements
contemplated hereby (the “Transaction Documents”), the issuance and sale
of the Securities and the consummation of all other transactions contemplated
by this Agreement; and

 

(c)           certified copies of the Certificate
of Formation and the LLC Agreement, each as in effect on the date hereof.

 

2I.            Fees and Expenses. The
Company shall have reimbursed each Investor for its fees and expenses as
provided in Section 7A hereof.

 

2J.           Compliance with Applicable Laws.
The purchase of Securities by the Investors hereunder shall not be prohibited
by any applicable law or governmental regulation, shall not subject any such
Investor to any penalty, liability or, in each Investor’s sole judgment, other
onerous conditions under or pursuant to any applicable law or governmental
regulation, and shall be permitted by laws and regulations of the jurisdictions
to which any Investor is subject.

 

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2K.          Consents and Approvals. The
Company shall have received or obtained all governmental, regulatory and third
party consents and approvals necessary for the consummation of the transactions
contemplated by this Agreement.

 

2L.           Waiver. Any condition
specified in this Section 2 may be waived only if such waiver is
set forth in a writing executed by the Investors.

 

Section  3.              Covenants.

 

3A.          Financial Statements and Other
Information. The Company shall deliver to each Investor (so long as such
Investor holds any Securities) and to each holder of at least 15% of the
Investor Preferred and to each holder of at least 15% of the Investor Common:

 

(a)           as soon as available but in any event
within 30 days after the end of each monthly accounting period in each fiscal
year, unaudited consolidating and consolidated statements of income and cash
flows of the Company and its Subsidiaries for such monthly period and for the
period from the beginning of the fiscal year to the end of such month, and
consolidating and consolidated balance sheets of the Company and its
Subsidiaries as of the end of such monthly period, all prepared in accordance
with United States generally accepted accounting principles, consistently
applied, subject to (i) the absence of footnote disclosures and (ii) normal
year-end adjustments;

 

(b)           as soon as available but in any event
within 30 days after the end of each quarterly accounting period in each fiscal
year, unaudited consolidated statements of income and cash flows of the Company
and its Subsidiaries for such quarterly period and for the period from the
beginning of the fiscal year to the end of such quarter, and consolidated balance
sheets of the Company and its Subsidiaries as of the end of such quarterly
period, all prepared in accordance with United States generally accepted
accounting principles, consistently applied, subject to the absence of footnote
disclosures and to normal year-end adjustments, and such other modifications
from GAAP as the Board may authorize, together with a management discussion and
analysis of financial conditions and results of operations in a form reasonably
satisfactory to the Investors (an “MD&A”) and accompanied by an
Officer’s Certificate from either the chief executive officer or chief
financial officer of the Company stating the following:  “To the knowledge of the undersigned, the
information contained in the financial statements attached to this certificate
fairly presents, in all material respects, the financial condition and results
of operations of the Company and its Subsidiaries.”;

 

(c)           accompanying the financial statements
referred to in subsections (a) and (b) above, an Officer’s
Certificate stating that, to such officer’s knowledge, neither the Company nor
any of its Subsidiaries is in material default under any of its material
agreements or, if any such default exists, specifying the nature and period of
existence thereof and what actions the Company and its Subsidiaries have taken
and propose to take with respect thereto;

 

(d)           within 90 days after the end of each
fiscal year, consolidating and consolidated statements of income and cash flows
of the Company and its Subsidiaries for such fiscal year, and consolidating and
consolidated balance sheets of the Company and its Subsidiaries as of the end
of such fiscal year, setting forth in each case comparisons to the annual

 

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budget and to the preceding fiscal year, all prepared
in accordance with United States generally accepted accounting principles,
consistently applied, together with an MD&A, and accompanied by
(i) with respect to the consolidated portions of such statements (except
with respect to budget data), an opinion containing no exceptions or
qualifications (except for qualifications regarding specified contingent
liabilities) of an independent accounting firm of recognized national standing
reasonably acceptable to the Majority Holders, (ii) a copy of such
accounting firm’s annual management letter to the Board, and (iii) an
Officer’s Certificate from either the chief executive officer or chief
financial officer of the Company stating the following:  “To the knowledge of the undersigned, the
information contained in the financial statements attached to this certificate
fairly presents, in all material respects, the financial condition and results
of operations of the Company and its Subsidiaries.”;

 

(e)           promptly upon receipt thereof, any
additional reports, management letters or other detailed information concerning
significant aspects of the Company’s operations or financial affairs given to
the Company by its independent accountants (and not otherwise contained in
other materials provided hereunder);

 

(f)            at least 30 days prior to the
beginning of each fiscal year, an annual budget prepared on a monthly basis for
the Company and its Subsidiaries for such fiscal year (displaying anticipated
statements of income and cash flows), and promptly upon preparation thereof any
other significant budgets prepared by the Company and any revisions of such
annual or other budgets, and within 30 days after any monthly period in which
there is a material adverse deviation from the annual budget, an Officer’s
Certificate explaining the deviation and what actions the Company has taken and
proposes to take with respect thereto;

 

(g)           promptly (but in any event within
seven business days) after:

 

(i)            the discovery or receipt of notice
of any default under any agreement to which the Company or any of its
Subsidiaries is a party that is reasonably likely to have a Material Adverse
Effect (as defined herein);

 

(ii)           any litigation, action, investigation
or proceeding is commenced, or to the knowledge of the Company or any
Subsidiary, is threatened to be, or has a reasonable likelihood of being (based
on the existence of any material dispute with any Person or otherwise),
commenced and that is, or any pending litigation, action, investigation or
proceeding that becomes, reasonably likely to (A) have a material adverse
effect on the ability of the Company or any Subsidiary to perform its material
obligations under its agreements, (B) have a Material Adverse Effect or (C) constitute
or result in a material breach of any representation, warranty, covenant or
agreement set forth in any material agreements;

 

(iii)          any material casualty, damage,
destruction, loss or forfeiture (whether or not covered by insurance and
whether or not in the ordinary course of business or consistent with past
practice) of or to property of the Company and its Subsidiaries having a
Material Adverse Effect;

 

(iv)          any material change in the conduct of
the business of the Company or any Subsidiary, or any material change in the
manner in which the Company or any

 

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Subsidiary markets, produces, distributes or sells its
products and services, in each such case which has had or may reasonably be
expected to have a Material Adverse Effect;

 

(v)           any material change in any accounting
procedures, practices or the basis of accounting of the Company or any
Subsidiary; or

 

(vi)          any other transaction, event or
circumstance affecting the Company or any Subsidiary reasonably likely to have
a Material Adverse Effect (including any material alteration or change in the
business plan or strategy of the Company or any Subsidiary);

 

a written notice setting
forth in reasonable detail the facts and circumstances relating to any of the
above-listed items, which notice shall include a copy of any material
documentation received or obtained by the Company or its Subsidiaries in
relation thereto;

 

(h)           promptly (but in any event within 5
business days) after the discovery or receipt of notice of any default under
any material agreement to which the Company or any of its Subsidiaries is a
party or any other event or circumstance affecting the Company or any
Subsidiary that is reasonably likely to have a Material Adverse Effect
(including the filing of any material litigation against the Company or any
Subsidiary or the existence of any material dispute with any Person that
involves a reasonable likelihood of such litigation being commenced), an
Officer’s Certificate specifying the nature and period of existence thereof and
what actions the Company and its Subsidiaries have taken and propose to take
with respect thereto;

 

(i)            promptly (but in any event within 5
business days) days after transmission thereof, copies of all financial
statements, proxy statements, reports and any other general written
communications that the Company sends to its equityholders and copies of all
registration statements and all regular, special or periodic reports that it
files, or any of its officers or directors file with respect to the Company,
with the Securities and Exchange Commission or with any securities exchange on
which any of the Company’s securities are then listed, and copies of all press
releases and other statements made available generally by the Company to the
public concerning material developments in the Company’s and its Subsidiaries’
businesses; and

 

(j)            with reasonable promptness, such
other information and financial data concerning the Company and its
Subsidiaries as any Person entitled to receive information under this Section 3A
may reasonably request.

 

Each of the
financial statements referred to in subsections (a), (b) and
(d) shall be true and correct in all material respects as of the
dates and for the periods stated therein, subject in the case of the unaudited
financial statements to changes resulting from normal year-end audit
adjustments (none of which would, alone or in the aggregate, be materially
adverse to the financial condition, operating results, assets, operations or
business prospects of the Company and its Subsidiaries taken as a whole). In
connection with the Company’s annual audit, the Company shall request that the
Company’s auditors perform certain procedures regarding executive compensation
and expense reimbursements and related party transactions as the Majority
Holders reasonably request.

 

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3B.          Management Rights. The Company
shall permit any representatives designated by any Investor (so long as such
Investor holds any Securities) or any holder of at least 15% of the Investor
Preferred or at least 15% of the Investor Common, upon reasonable notice and
during normal business hours and at such other times as any such holder may
reasonably request, to (a) visit and inspect any of the properties of the
Company and its Subsidiaries, (b) examine the corporate and financial
records of the Company and its Subsidiaries and make copies thereof or extracts
therefrom and (c) discuss the affairs, finances and accounts of any such
entities with the directors, officers, key employees and independent
accountants of the Company and its Subsidiaries; provided that the
Company shall have the right to have its chief financial officer present at any
meetings with the Company’s independent accountants.

 

3C.          Restrictions. The Company shall
not, without the prior written consent of the Majority Holders:

 

(a)           directly or indirectly declare or pay
any dividends or make any distributions upon any of its equity securities,
other than distributions of unpaid yield or unreturned capital on the Class A
Preferred Units or the Class B Preferred Units pursuant to the LLC
Agreement;

 

(b)           directly or indirectly redeem,
purchase or otherwise acquire, or permit any Subsidiary to redeem, purchase or
otherwise acquire, any of the Company’s equity securities (including, without
limitation, warrants, options and other rights to acquire equity securities);

 

(c)           except as expressly contemplated by
this Agreement or the Senior Management Agreements, authorize, issue, sell or
enter into any agreement providing for the issuance (contingent or otherwise),
or permit any Subsidiary to authorize, issue, sell or enter into any agreement
providing for the issuance (contingent or otherwise) of, (i) any notes or
debt securities containing equity features (including, without limitation, any
notes or debt securities convertible into or exchangeable for equity
securities, issued in connection with the issuance of equity securities or
containing profit participation features) or (ii) any equity securities
(or any securities convertible into or exchangeable for any equity securities)
or rights to acquire any equity securities, other than the issuance of equity
securities by a Subsidiary to the Company or another Subsidiary;

 

(d)           make, or permit any Subsidiary to
make, any loans or advances to, guarantees for the benefit of, or Investments
in, any Person, except for (i) reasonable advances to employees in the
ordinary course of business as well as travel advances, (ii) relocation
loans, (iii) trade credit extended to customers in the ordinary course of
business and (iv) Investments having a stated maturity no greater than one
year from the date the Company makes such Investment in (A) obligations of
the United States government or any agency thereof or obligations guaranteed by
the United States government, (B) certificates of deposit of commercial
banks having combined capital and surplus of at least $50 million, (C) commercial
paper with a rating of at least “Prime-1” by Moody’s Investors Service, Inc.
or (D) money market accounts investing in any of the foregoing or in
substantially similar investments;

 

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(e)           merge or consolidate with any Person
or permit any Subsidiary to merge or consolidate with any Person (other than a
wholly-owned Subsidiary);

 

(f)            sell, lease or otherwise dispose of,
or permit any Subsidiary to sell, lease or otherwise dispose of, more than 5%
of the consolidated assets of the Company and its Subsidiaries (computed on the
basis of book value, determined in accordance with United States generally
accepted accounting principles consistently applied, or fair market value,
determined by the Board in its reasonable good faith judgment) in any
transaction or series of related transactions (other than sales of inventory in
the ordinary course of business);

 

(g)           except as contemplated by the LLC
Agreement and the Securityholders Agreement in connection with a Public
Offering, liquidate, dissolve or effect a recapitalization or reorganization in
any form of transaction (including, without limitation, any reorganization into
a corporation or a partnership);

 

(h)           acquire, or permit any Subsidiary to
acquire, any interest in any business (whether by a purchase of assets,
purchase of securities, merger or otherwise), or enter into any joint venture;

 

(i)            enter into the ownership, active
management or operation of any business other than the ownership of the
securities of its Subsidiaries or permit any Subsidiary to enter into the
ownership, active management or operation of any business other than a business whose principal business
activities are in, or relate to, the insurance claims processing, analytics and
outsourcing industry;

 

(j)            enter into, or permit any Subsidiary
to enter into, any transaction with any of its or any Subsidiary’s officers,
directors, employees or Affiliates or any individual related by blood, marriage
or adoption to any such Person (a “Relative”) or any entity in which any
such Person or individual owns a beneficial interest (a “Related Entity”),
except for normal employment arrangements and benefit programs on reasonable
terms and except as otherwise expressly contemplated by this Agreement, the
Senior Management Agreements and the Professional Services Agreement;

 

(k)           become subject to, or permit any of
its Subsidiaries to become subject to, any agreement or instrument that by its
terms would (under any circumstances) restrict (i) the right of any
Subsidiary to make loans or advances or pay dividends to, transfer property to,
or repay any Indebtedness owed to, the Company or any Subsidiary or (ii) the
Company’s right to perform the provisions of this Agreement, the Certificate of
Formation, the LLC Agreement or the other Transaction Documents;

 

(l)            except as expressly contemplated by
this Agreement, make any amendment to the Certificate of Formation or the LLC
Agreement that would increase the number of authorized Securities or adversely
affect or otherwise impair the rights or the relative preferences and
priorities of the holders of the Securities under this Agreement, the
Certificate of Formation, the LLC Agreement or the other Transaction Documents;
or

 

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(m)          create, incur, assume or suffer to
exist, or permit any Subsidiary to create, incur, assume or suffer to exist,
Indebtedness exceeding the amounts approved therefor by the Board in the annual
budget.

 

3D.          Affirmative Covenants. So long
as the Investors hold any Securities, the Company shall, and shall cause each
Subsidiary to:

 

(a)           comply with all applicable laws, rules and
regulations of all governmental authorities, the violation of which would
reasonably be expected to have a Material Adverse Effect, and pay and discharge
when payable all taxes, assessments and governmental charges (except to the extent
the same are being contested in good faith and adequate reserves therefor have
been established); and

 

(b)           enter into and maintain appropriate
nondisclosure and noncompete agreements with its key employees.

 

3E.           Current Public Information. At
all times after the Company (or its successor) has filed a registration
statement with the Securities and Exchange Commission pursuant to the
requirements of either the Securities Act or the Securities Exchange Act, the
Company (or its successor) shall file all reports required to be filed by it
under the Securities Act and the Securities Exchange Act and the rules and
regulations adopted by the Securities and Exchange Commission thereunder and
shall take such further action as any holder or holders of Restricted Securities
may reasonably request, all to the extent required to enable such holders to
sell Restricted Securities pursuant to (a) Rule 144 adopted by the
Securities and Exchange Commission under the Securities Act (as such rule may
be amended from time to time) or any similar rule or regulation hereafter
adopted by the Securities and Exchange Commission or (b) a registration
statement on Form S-2 or S-3 or any similar registration form hereafter
adopted by the Securities and Exchange Commission. Upon request, the Company
(or its successor) shall deliver to any holder of Restricted Securities a
written statement as to whether it has complied with such requirements.

 

3F.           Amendment of Other Agreements.
The Company shall not amend, modify or waive any provision of the Senior
Management Agreements or any other agreement with key executives of the Company
without the prior written consent of the Majority Holders. The Company shall
enforce the provisions of the Senior Management Agreements and any other
agreement with key executives of the Company and shall exercise all of its
rights and remedies thereunder (including, without limitation, any repurchase
options and first refusal rights) unless it is otherwise directed by the
Majority Holders.

 

3G.          Public Disclosures. The Company
shall not, nor shall it permit any Subsidiary to, disclose any Investor’s name
or identity as an investor in the Company in any press release or other public
announcement or in any document or material filed with any governmental entity
(other than tax filings in the ordinary course), without the prior written
consent of such Investor, unless such disclosure is required by applicable law
or governmental regulations or by order of a court of competent jurisdiction,
in which case prior to making such disclosure the Company shall give written
notice to such Investor describing in reasonable detail

 

9

 

the proposed content of
such disclosure and shall permit such Investor to review and comment upon the
form and substance of such disclosure.

 

3H.          Unrelated Business Taxable Income;
Effectively Connected Income. The Company shall not engage in any
transaction which is reasonably likely to cause any Investor or any limited
partner thereof that is exempt from income taxation under Section 501(a) of
the IRC and, if applicable, any pension plan that any such trust may be a part
of, to recognize unrelated business taxable income as defined in Section 512
and Section 514 of the IRC. The Company will use reasonable best efforts
not to engage in, or invest in any Person that is treated as a flow-through
entity for U.S. federal income tax purposes that engages in, (a) any “commercial
activity” as defined in Section 892(a)(2)(i) of the IRC or (b) transactions
which will cause the Company to incur income that is effectively connected with
a “trade or business within the United States” as defined in Section 864(b) of
the IRC.

 

3I.            Hart-Scott-Rodino Compliance.
In connection with any transaction in which the Company is involved (a “Transaction”)
that is required to be reported under the Hart-Scott-Rodino Antitrust
Improvements Act of 1976, as amended from time to time (the “HSR Act”),
the Company shall prepare and file all documents with the Federal Trade
Commission and the United States Department of Justice which may be required to
comply with the HSR Act, and shall promptly furnish all materials thereafter
requested by any of the regulatory agencies having jurisdiction over such
filings, in connection with a Transaction. The Company shall take all
reasonable actions and shall file and use reasonable best efforts to have
declared effective or approved all documents and notifications with any
governmental or regulatory bodies, as may be necessary or may reasonably be
requested under federal antitrust laws for the consummation of the Transaction.
Notwithstanding the foregoing, if any Investor, rather than the Company, is
required to make a filing under the HSR Act in connection with a Transaction,
the Company will provide to such Investor all necessary information for such
filing, will facilitate such filing and will pay all fees and expenses
associated with such filing.

 

3J.           Additional Accounting Procedures.
Upon the reasonable request of the Investors, the Company and its Subsidiaries
will cause their accounting firm to conduct additional procedures with respect
to, and monitor and evaluate, the Company’s and any Subsidiary’s executive
compensation, expense reimbursement and related-party transactions policies and
practices.

 

Section  4.              Transfer of Restricted
Securities.

 

(a)           Restricted Securities are
transferable only pursuant to (i) Public Offerings, (ii) Rule 144
of the Securities and Exchange Commission (or any similar rule or rules then
in force) if such rule or rules are available and (iii) subject
to the conditions specified in clause (b) below, any other legally
available means of transfer.

 

(b)           In connection with the transfer of
any Restricted Securities (other than a transfer described in Sections 4(a)(i) or
(ii) above or to any Affiliate of an Investor), the holder thereof
shall deliver written notice to the Company describing in reasonable detail the
transfer or proposed transfer. If the holder of the Restricted Securities
delivers to the Company an opinion of Kirkland & Ellis LLP or other
counsel that no subsequent transfer of such Restricted

 

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Securities shall require registration under the
Securities Act, the Company shall promptly upon such contemplated transfer deliver
to the prospective transferor new certificates for such Restricted Securities
that do not bear the Securities Act legend set forth in Section 7C.
If the Company is not required to deliver new certificates for such Restricted
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 4
and Section 7C.

 

(c)           Upon the request of an Investor, the
Company shall promptly supply to such Investor or its prospective transferees
all information regarding the Company required to be delivered in connection
with a transfer pursuant to Rule 144A of the Securities and Exchange
Commission.

 

Section  5.              Representations and Warranties
of the Company. As a material inducement to each Investor to enter into
this Agreement and purchase the Securities, the Company hereby represents and
warrants to each Investor that:

 

5A.          Organization and Corporate Power.
The Company is a limited liability company duly organized, validly existing and
in good standing under the laws of the State of Delaware and is qualified to do
business in every jurisdiction in which the failure to so qualify might
reasonably be expected to have a Material Adverse Effect. The Company has all
requisite limited liability company power and authority and all material
licenses, permits and authorizations necessary to own and operate its
properties, to carry on its businesses as now conducted and presently proposed
to be conducted and to carry out the transactions contemplated by this
Agreement. The copies of the Company’s Certificate of Formation and the LLC
Agreement that have been furnished to the Investors reflect all amendments made
thereto at any time prior to the date of this Agreement and are correct and
complete.

 

5B.          Equity Securities and Related
Matters.

 

(a)           As of the date hereof and immediately
hereafter, the authorized equity securities of the Company shall consist of the
following: (i) an unlimited number of units designated as Class A
Preferred Units, none of which shall be issued and outstanding and all of which
may only be issued in exchange for other equity securities of the Company
pursuant to the terms of the Senior Management Agreements; (ii) an
unlimited number of units designated as Class B Preferred Units, 204,239.345
shall be issued and outstanding; (iii) an unlimited number of units
designated as Class A Common Units, 92,946,944 of which shall be issued
and outstanding; (iv) an unlimited number of units designated as Class B
Common Units (as defined in the LLC Agreement), none of which shall be issued
and outstanding; and (v) 932,879 Common Units shall be reserved for
issuance to other executives and/or managers of the Company and its
Subsidiaries as determined by the Board. As of the date hereof, the Company
shall not have outstanding any securities convertible or exchangeable for any
equity securities of the Company or containing any profit participation
features, nor shall it have outstanding any rights or options to subscribe for
or to purchase its equity securities or any securities convertible into or
exchangeable for its equity securities or any equity appreciation rights or
phantom equity plans other than pursuant to and as contemplated by this
Agreement, the LLC Agreement and the Senior Management Agreements. As of the
date hereof, the Company shall not be subject to any

 

11

 

obligation (contingent or otherwise) to repurchase or
otherwise acquire or retire any of its equity securities or any warrants,
options or other rights to acquire its equity securities, except obligations,
if any, pursuant to this Agreement, the LLC Agreement, the Senior Management
Agreements and the Company’s Certificate of Formation. As of the date hereof,
all of the Company’s outstanding equity securities shall be validly issued,
fully paid and nonassessable.

 

(b)           There are no statutory or, to the
best of the Company’s knowledge, contractual securityholders preemptive rights
or rights of refusal with respect to the issuance of the Securities hereunder
or the issuance of the Securities pursuant to Section 1B(b), except
as expressly contemplated in the Securityholders Agreement, the LLC Agreement
or as provided herein. The Company has not violated any applicable federal or
state securities laws in connection with the offer, sale or issuance of any of
its equity securities, and the offer, sale and issuance of the Securities
hereunder and pursuant to Section 1B(b) hereof do not and will
not require registration under the Securities Act or any applicable state
securities laws. To the best of the Company’s knowledge, there are no
agreements between the Company’s securityholders with respect to the voting or
transfer of the Company’s equity securities or with respect to any other aspect
of the Company’s affairs, except for the Securityholders Agreement, the LLC
Agreement, the Senior Management Agreements, the Registration Agreement and the
Professional Services Agreement.

 

5C.          Subsidiaries; Investments. Each
of the Company’s Subsidiaries is duly organized, validly existing and in good
standing under the laws of the jurisdiction of its incorporation or
organization, possesses all requisite corporate power and authority and all
material licenses, permits and authorizations necessary to own its properties
and to carry on its business as now being conducted and as presently proposed
to be conducted and is qualified to do business in every jurisdiction in which
its ownership of property or the conduct of its business requires it to
qualify.

 

5D.          Authorization; No Breach. The
execution, delivery and performance of this Agreement, the LLC Agreement, the
Senior Management Agreements, the Securityholders Agreement, the Registration
Agreement, the Professional Services Agreement, and all other agreements
contemplated hereby or thereby to which the Company is a party, have been duly
authorized by the Company. This Agreement, the Senior Management Agreements,
the LLC Agreement, the Securityholders Agreement, the Registration Agreement,
the Professional Services Agreement, the Certificate of Formation and all other
agreements contemplated hereby or thereby each constitutes a valid and binding
obligation of the Company, enforceable in accordance with its terms. The
execution and delivery by the Company of this Agreement, the LLC Agreement, the
Senior Management Agreements, the Securityholders Agreement, the Registration
Agreement, the Professional Services Agreement, and all other agreements
contemplated hereby or thereby to which the Company is a party, the offering,
sale and issuance of the Securities hereunder (including pursuant to Section 1B(b))
and the fulfillment of and compliance with the respective terms hereof and
thereof by the Company do not and will not (a) conflict with or result in
a breach of the terms, conditions or provisions of, (b) constitute a
default under, (c) result in the creation of any lien, security interest,
charge or encumbrance upon the Company’s equity securities or assets pursuant
to, (d) give any third party the right to modify, terminate or accelerate
any obligation under, (e) result in a violation of, or (f) require
any

 

12

 

authorization, consent,
approval, exemption or other action by or notice to any court or administrative
or governmental body pursuant to, the Certificate of Formation or the LLC
Agreement, or any law, statute, rule or regulation to which the Company is
subject, or any agreement, instrument, order, judgment or decree to which the
Company is a party or by which it is bound.

 

5E.           Litigation, etc. There are no
actions, suits, proceedings, orders, investigations or claims pending or, to
the best of the Company’s knowledge, threatened against or affecting either the
Company or Solera, Inc. (or to the best of the Company’s knowledge,
pending or threatened against or affecting any of the officers, directors or
employees of the Company or Solera, Inc. with respect to their businesses
or proposed business activities) at law or in equity, or before or by any
governmental department, commission, board, bureau, agency or instrumentality
with respect to the transactions contemplated by this Agreement.

 

5F.           Brokerage. There are no claims
for brokerage commissions, finders’ fees or similar compensation in connection
with the transactions contemplated by this Agreement based on any arrangement
or agreement binding upon the Company. The Company shall pay, and hold the
Investors harmless against, any liability, loss or expense (including, without
limitation, attorneys’ fees and out-of-pocket expenses) arising in connection
with any such claim.

 

5G.          Governmental Consent, etc. No
permit, consent, approval or authorization of, or declaration to or filing
with, any governmental authority is required in connection with the execution,
delivery and performance by the Company of this Agreement or the other
agreements contemplated hereby, or the consummation by the Company of any other
transactions contemplated hereby or thereby.

 

5H.          Disclosure. Neither this
Agreement nor any of the schedules, attachments, written statements, documents,
certificates or other items prepared or supplied to the Investors by or on
behalf of the Company with respect to the transactions contemplated hereby
contain any untrue statement of a material fact or omit a material fact
necessary to make each statement contained herein or therein not misleading. There
is no fact which the Company has not disclosed to the Investors in writing and
of which any of its officers, directors, managers or executive employees is
aware and which has had or might reasonably be anticipated to have a Material
Adverse Effect.

 

5I.            Closing Date. The
representations and warranties of the Company contained in this Section 5
and elsewhere in this Agreement and all information contained in any exhibit, schedule or
attachment hereto or in any writing delivered by, or on behalf of, the Company
to the Investors shall be true and correct in all material respects on the date
hereof, except as affected by the transactions expressly contemplated by this
Agreement.

 

Section  6.              Definitions. For the
purposes of this Agreement, the following terms have the meanings set forth
below:

 

“Affiliate” of any
particular Person means any other Person controlling, controlled by or under
common control with such particular Person or entity; it being understood and
agreed that GTCR II and its Affiliates shall for all purposes hereunder be
Affiliates of GTCR

 

13

 

I. For purposes of
this Agreement, all holdings of Class B Preferred Units and Class A
Common Units by Persons who are Affiliates of each other shall be aggregated
for purposes of meeting any threshold tests under this Agreement.

 

“Board” means the
board of managers of the Company at any given time.

 

“Class A
Preferred Units” means the Class A Preferred Units, as defined in the
LLC Agreement.

 

“Indebtedness”
means all indebtedness for borrowed money (including purchase money
obligations) maturing one year or more from the date of creation or incurrence
thereof or renewable or extendible at the option of the debtor to a date one
year or more from the date of creation or incurrence thereof, all indebtedness
under revolving credit arrangements extending over a year or more, all
capitalized lease obligations and all guarantees of any of the foregoing.

 

“Investor Common”
means (i) any Class A Common Units issued pursuant to the Prior Unit
Purchase Agreement or this Agreement and (ii) any Class A Common
Units issued or issuable with respect to the Class A Common Units referred
to in clause (i) above by way of unit dividends or unit splits or
in connection with a combination of units, recapitalization, merger,
consolidation or other reorganization. As to any particular units of Investor
Common, such units shall cease to be Investor Common when they have been (a) effectively
registered under the Securities Act and disposed of in accordance with the
registration statement covering them or (b) distributed to the public
through a broker, dealer or market maker pursuant to Rule 144 under the
Securities Act (or any similar rule then in force).

 

“Investor Preferred”
means (i) the Class B Preferred Units issued pursuant to the Prior
Unit Purchase Agreement or hereunder and (ii) any Class B Preferred
Units issued or issuable with respect to the Class B Preferred Units
referred to in clause (i) above by way of unit dividends or unit splits or
in connection with a combination of units, recapitalization, merger, consolidation
or other reorganization. As to any particular units of Investor Preferred, such
units shall cease to be Investor Preferred when they have been (a) effectively
registered under the Securities Act and disposed of in accordance with the
registration statement covering them or (b) distributed to the public
through a broker, dealer or market maker pursuant to Rule 144 under the
Securities Act (or any similar rule then in force).

 

“Investor Securities”
means, collectively, the Investor Preferred and the Investor Common.

 

“Investment” as
applied to any Person means (i) any direct or indirect purchase or other
acquisition by such Person of any notes, obligations, instruments, stock,
securities or ownership interest (including partnership interests and joint
venture interests) of any other Person and (ii) any capital contribution
by such Person to any other Person.

 

“IRC” means the
Internal Revenue Code of 1986, as amended, and any reference to any particular
IRC Section shall be interpreted to include any revision of or successor
to that Section regardless of how numbered or classified.

 

14

 

“Majority Holders”
means the holders of a majority of the Investor Preferred or, if no Investor
Preferred is outstanding, the holders of a majority of the Investor Common.

 

“Material Adverse
Effect” means a material adverse effect on the business, liabilities,
operations, properties, assets, operating results, prospects or condition
(financial or otherwise) of the Company and its Subsidiaries taken as a whole.

 

“Officer’s Certificate”
means a certificate signed by the Company’s chief executive officer or its
chief financial officer, stating that (i) the officer signing such
certificate has made or has caused to be made such investigations as are
necessary in order to permit such officer to verify the accuracy of the
information set forth in such certificate and (ii) to the best of such
officer’s knowledge, such certificate does not misstate any material fact and
does not omit to state any fact necessary to make the certificate not
misleading.

 

“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, an investment fund, any other business entity and a governmental
entity or any department, agency or political subdivision thereof.

 

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

 

“Restricted Securities”
means (i) the Securities issued pursuant to the Prior Unit Purchase
Agreement or hereunder and (ii) any securities issued with respect to the
securities referred to in clause (i) above by way of a unit
dividend or unit split or in connection with a combination of units,
recapitalization, merger, consolidation or other reorganization. As to any
particular Restricted Securities, such securities shall cease to be Restricted
Securities when they have (a) been effectively registered under the
Securities Act and disposed of in accordance with the registration statement
covering them, (b) become eligible for sale pursuant to Rule 144(k)
(or any similar provision then in force) under the Securities Act or (c) been
otherwise transferred and new certificates for them not bearing the Securities
Act legend set forth in Section 7C have been delivered by the
Company in accordance with Section 4(b). Whenever any particular
securities cease to be Restricted Securities, the holder thereof shall be
entitled to receive from the Company, without expense, new securities of like
tenor not bearing a Securities Act legend of the character set forth in Section 7C.

 

“Securities Act”
means the Securities Act of 1933, as amended, or any similar federal law then
in force.

 

“Securities and
Exchange Commission” includes any governmental body or agency succeeding to
the functions thereof.

 

“Securities Exchange
Act” means the Securities Exchange Act of 1934, as amended, or any similar
federal law then in force.

 

“Senior Management
Agreement” means any Senior Management Agreement entered into from time to
time among the Company, Solera, Inc. (or any other Subsidiaries of the

 

15

 

Company) and its
executives, as the same may be amended from time to time pursuant to the terms
thereof (including, without limitation, the Amended Senior Management Agreement
and any other agreements designated as Senior Management Agreements for the sale
of equity securities between the Company and any employees or other service
providers of the Company or its Subsidiaries, as approved by the Board).

 

“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. 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.

 

Section  7.              Miscellaneous.

 

7A.          Expenses. The Company agrees to
pay, and hold the Investors and all holders of Investor Securities harmless
against liability for the payment of, (a) the reasonable fees and expenses
of their counsel arising in connection with the negotiation and execution of
this Agreement and the consummation of the transactions contemplated by this
Agreement (including, without limitation, fees and expenses arising with
respect to any subsequent purchase of Securities pursuant to Section 1B(b) hereof),
(b) the fees and expenses incurred with respect to any amendments or
waivers (whether or not the same become effective) under or in respect of this
Agreement, the LLC Agreement, the Senior Management Agreements, the Securityholders
Agreement, the Registration Agreement, the Professional Services Agreement, the
other agreements contemplated hereby or thereby and the Certificate of
Formation, (c) stamp and other taxes that may be payable in respect of the
execution and delivery of this Agreement or the issuance, delivery or
acquisition of any Securities purchased hereunder or in accordance with Section 1B(b) hereof,
(d) the fees and expenses incurred with respect to the interpretation or
enforcement of the rights granted under this Agreement, the LLC Agreement, the
Senior Management Agreements, the Securityholders Agreement, the Registration
Agreement, the Professional Services Agreement, the other agreements
contemplated hereby or thereby and the Certificate of Formation and (e) such
reasonable travel expenses, legal fees and other out-of-pocket fees and
expenses as have been or may be incurred by any Investor, its Affiliates and
its Affiliates’ directors, officers and employees in connection with any
Company-related financing

 

16

 

and in connection with
the rendering of any other services by an Investor or its Affiliates
(including, but not limited to, fees and expenses incurred in attending Board
or other Company-related meetings).

 

7B.          Remedies. Each holder of
Investor Securities shall have all rights and remedies set forth in this
Agreement, the LLC Agreement, the Securityholders Agreement, the Registration
Agreement and the Certificate of Formation and all rights and remedies that
such holders have been granted at any time under any other agreement or
contract and all of the rights that such holders have under any law. Any Person
having any rights under any provision of this Agreement shall be entitled to
enforce such rights specifically (without posting a bond or other security), to
recover damages by reason of any breach of any provision of this Agreement and
to exercise all other rights granted by law.

 

7C.          Each Investor’s Investment
Representations. Each Investor hereby represents (a) that it is
acquiring the Restricted Securities purchased hereunder or acquired pursuant
hereto for its own account with the present intention of holding such
securities for purposes of investment, and that it has no intention of selling
such securities in a public distribution in violation of the federal securities
laws or any applicable state securities laws, (b) that it is an “accredited
investor” and a sophisticated investor for purposes of applicable U.S. federal
and state securities laws and regulations, (c) that the Restricted
Securities were not offered to such Investor by any means of general
solicitation or general advertising, (d) that it believes that it has such
knowledge and experience in financial and business matters that such Investor
is capable of evaluating the merits and risks of an investment in the Company, (e) that
it is able to bear the economic risks of an investment in the Restricted
Securities and could afford a complete loss of such investment, (f) that
this Agreement and each of the other agreements contemplated hereby constitutes
(or will constitute) the legal, valid and binding obligation of such Investor,
enforceable in accordance with its terms and (g) that the execution,
delivery and performance of this Agreement and such other agreements by such
Investor does not and will not conflict with, violate or cause a breach of any
agreement, contract or instrument to which such Investor is subject. Notwithstanding
the foregoing, nothing contained herein shall prevent any Investor and
subsequent holders of Restricted Securities from transferring such securities
in compliance with the provisions of Section 4 hereof. Each
certificate for Restricted Securities issued on or after the date hereof shall
be imprinted with a legend in substantially the following form:

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE
ORIGINALLY ISSUED ON               ,
2006 AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED.
THE TRANSFER OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE IS SUBJECT TO
THE CONDITIONS SPECIFIED IN THE AMENDED AND RESTATED UNIT PURCHASE AGREEMENT,
DATED AS OF               ,
2006 BY AND AMONG THE ISSUER (THE “COMPANY”) AND CERTAIN INVESTORS, AS
AMENDED, AND THE COMPANY RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH
SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO SUCH

 

17

 

TRANSFER. A COPY OF SUCH CONDITIONS SHALL BE FURNISHED
BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE.”

 

7D.          Consent to Amendments. Except
as otherwise expressly provided herein, the provisions of this Agreement may be
amended and the Company may take any action herein prohibited, or omit to
perform any act herein required to be performed by it, only if the Company has
obtained the prior written consent of the Majority Holders. This Agreement may
not be amended without the written consent of the Company and the Majority
Holders. No other course of dealing between the Company and the holder of any
Securities or any delay in exercising any rights hereunder or under the LLC
Agreement shall operate as a waiver of any rights of any such holders. For
purposes of this Agreement, Securities held by the Company or any of its
Subsidiaries shall not be deemed to be outstanding.

 

7E.           Survival of Representations and
Warranties. All representations and warranties contained herein or made in
writing by any party in connection herewith shall survive the execution and
delivery of this Agreement and the consummation of the transactions
contemplated hereby, regardless of any investigation made by an Investor or on
its behalf.

 

7F.           Successors and Assigns. Except
as otherwise expressly provided herein, all covenants and agreements contained
in this Agreement by or on behalf of any of the parties hereto shall bind and
inure to the benefit of the respective successors and assigns of the parties
hereto whether so expressed or not. In addition, and whether or not any express
assignment has been made, the provisions of this Agreement that are for each
Investor’s benefit as a purchaser or holder of Securities are also for the
benefit of, and enforceable by, any subsequent holder of such Securities. The
rights and obligations of each Investor under this Agreement and the agreements
contemplated hereby may be assigned by such Investor at any time, in whole or
in part, to any investment fund managed by GTCR I or GTCR II or any successor
thereto.

 

7G.          Generally Accepted Accounting
Principles. Where any accounting determination or calculation is required
to be made under this Agreement or the exhibits hereto, such determination or
calculation (unless otherwise provided) shall be made in accordance with United
States generally accepted accounting principles, consistently applied, except
that if because of a change in United States generally accepted accounting
principles the Company would have to alter a previously utilized accounting
method or policy in order to remain in compliance with United States generally
accepted accounting principles, such determination or calculation shall
continue to be made in accordance with the Company’s previous accounting
methods and policies.

 

7H.          Severability. Whenever
possible, each provision of this Agreement shall 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.

 

18

 

7I.            Counterparts. This Agreement
may be executed simultaneously in two or more counterparts, any one of which
need not contain the signatures of more than one party, but all such
counterparts taken together shall constitute one and the same Agreement.

 

7J.           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.

 

7K.          Descriptive Headings;
Interpretation. The descriptive headings of this Agreement are inserted for
convenience only and do not constitute a section of this Agreement. The
use of the word “including” in this Agreement shall be by way of example rather
than by limitation.

 

7L.           Governing Law. The Delaware
Limited Liability Company Act shall govern all issues 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 and schedules hereto shall 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.

 

7M.         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 OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

7N.          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 (a) delivered personally to the recipient, (b) sent
to the recipient by reputable express courier service (charges prepaid), (c) mailed
to the recipient by certified or registered mail, return receipt requested and
postage prepaid, or (d) telecopied to the

 

19

 

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 Investors and to the Company at the
addresses indicated below (or at such other address as shall be given in
writing by one party to the others):

 

	
  If to the Company:

  
	
   

  
	
  Solera Holdings, LLC

  
	
  12230 El Camino Real

  
	
  Suite 200

  
	
  San Diego, CA 92130

  
	
  Attention:

  	
  Chief Executive
  Officer

  
	
  Telephone:

  	
  (858) 812-2870

  
	
  Facsimile:

  	
  (858) 812-3011

  
	
   

  
	
  with copies to:

  
	
   

  
	
  GTCR Golder Rauner, L.L.C.

  
	
  6100 Sears Tower

  
	
  Chicago, Illinois
  60606-6402

  
	
  Attention:

  	
  Philip A. Canfield

  
	
   

  	
  Craig A. Bondy

  
	
  Telephone:

  	
  (312) 382-2200

  
	
  Facsimile:

  	
  (312) 382-2201

  
	
   

  
	
  Kirkland &
  Ellis LLP

  
	
  200 East Randolph Drive

  
	
  Chicago, Illinois 60601

  
	
  Attention:

  	
  Stephen L.
  Ritchie, P.C.

  
	
  Telephone:

  	
  (312) 861-2000

  
	
  Facsimile:

  	
  (312) 861-2200

  
	
   

  
	
  If to any of the
  Investors:

  
	
   

  
	
  GTCR Golder Rauner, L.L.C.

  
	
  6100 Sears Tower

  
	
  Chicago, Illinois
  60606-6402

  
	
  Attention:

  	
  Philip A.
  Canfield

  
	
   

  	
  Craig A. Bondy

  
	
  Telephone:

  	
  (312) 382-2200

  
	
  Facsimile:

  	
  (312) 382-2201

  

 

20

 

	
  with a copy to:

  
	
   

  
	
  Kirkland &
  Ellis LLP

  
	
  200 East Randolph Drive

  
	
  Chicago, Illinois 60601

  
	
  Attention:

  	
  Stephen L.
  Ritchie, P.C.

  
	
  Telephone:

  	
  (312) 861-2000

  
	
  Facsimile:

  	
  (312) 861-2200

  

 

or to such other
address or to the attention of such other person as the recipient party has
specified by prior written notice to the sending party.

 

7O.          Entire Agreement. The Prior
Unit 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 Unit
Purchase Agreement and any provision so breached shall not be superseded by
this Agreement for the purposes of actions taken in connection with such breach
and liabilities related thereto. 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, that may have related to the subject matter hereof in
any way.

 

7P.           No Strict Construction. The
parties hereto have participated jointly in the negotiation and drafting of
this Agreement. In the event an ambiguity or question of intent or
interpretation arises, this Agreement shall be construed as if drafted jointly
by the parties hereto, and no presumption or burden of proof shall arise
favoring or disfavoring any party by virtue of the authorship of any of the
provisions of this Agreement.

 

*    *    *    *    *

 

21

 

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

 

	
   

  	
   

  	
  SOLERA HOLDINGS, LLC

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/
  Tony Aquila

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Tony
  Aquila

  
	
   

  	
   

  	
  Its:

  	
  Chief
  Executive Officer

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  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 THE AMENDED AND RESTATED UNIT
PURCHASE AGREEMENT

 

22Exhibit
10.12

 

AMENDED
AND RESTATED

SENIOR MANAGEMENT AGREEMENT

 

THIS AMENDED AND RESTATED SENIOR
MANAGEMENT AGREEMENT (this “Agreement”) is made as of April 13,
2006, by and among Solera Holdings, LLC, a Delaware limited liability company
(the “Company”), Solera, Inc., a Delaware corporation (“Employer”),
and Tony Aquila (“Executive”).

 

On April 1, 2005, pursuant to the Senior
Management Agreement, dated as of April 1, 2005, by and among the Company,
Employer and Executive (the “Prior Senior Management Agreement”),
Executive purchased from the Company (i) 4,040,021 Class A Common
Units (as defined below) and (ii) 16.625 Class B Preferred Units (as
defined below). On the date hereof, pursuant to the terms and conditions of
this Agreement, Executive will purchase (i) 530,551 Class A Common
Units and (ii) 1,526.318 Class B Preferred Units. All Class B Preferred
Units and Class A Common Units owned by Executive or acquired by Executive
pursuant to this Agreement or the Prior Senior Management Agreement are referred
to herein as “Executive Securities.” Certain definitions are set forth
in Section 9 of this Agreement.

 

On the date hereof, the Company and GTCR Fund VIII,
L.P., a Delaware limited partnership, GTCR Fund VIII/B, L.P., a Delaware
limited partnership, and GTCR Co-Invest II, L.P., a Delaware limited
partnership (together with any other investment fund managed by GTCR I (as
defined below) or GTCR II (as defined below) that at any time executes a
counterpart to the Purchase Agreement or otherwise agrees to be bound thereby,
collectively, the “Investors”, and each, an “Investor”) are
entering into an Amended and Restated Unit Purchase Agreement (the “Purchase
Agreement”).

 

In connection with the execution of the Purchase
Agreement, the Company, Employer and Executive desire to amend and restate the
Prior Senior Management Agreement in its entirety. Certain provisions of this
Agreement are intended for the benefit of, and will be enforceable by, the
Investors.

 

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 Senior
Management Agreement hereby agree to amend and restate the Prior Senior
Management Agreement in its entirety as follows and all parties hereto hereby
agree as follows:

 

PROVISIONS
RELATING TO EXECUTIVE SECURITIES

 

1.     Purchase and Sale of
Executive Securities.

 

(a)   Pursuant to the Prior Senior
Management Agreement, on April 1, 2005, Executive purchased, and the
Company sold, (i) 4,040,021 Class A Common Units and (ii) 16.625
Class B Preferred Units. On such date, the Company delivered to Executive
the certificates evidencing any Executive Securities that were vested at such
time, and Executive delivered to Employer, 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 $420,627.13 as payment for such Executive
Securities.

 

1

 

(b)   Upon the execution of this
Agreement, Executive will purchase, and the Company will sell, (i) 530,551
Class A Common Units at a price of $0.10 per unit and (ii) 1,526.318 Class B
Preferred Units at a price of $1,000.00 per unit. The Company will deliver to
Executive copies of the certificates representing such Executive Securities,
and Executive will deliver to the Company a cashier’s or certified check or
wire transfer of immediately available funds in the aggregate amount of
$1,579,372.87 as payment for such Executive Securities. Following such purchase
of Class A Common Units and Class B Preferred Units, Executive shall
own the following Executive Securities: (i) 3,927,679 Class A Common
Units, which units shall be referred to herein as the “Carried Common Units”;
(ii) 642,893 Class A Common Units, which units shall be referred to
herein as the “Co-Invest Common Units”; and (iii) 1,542.943 Class B
Preferred Units. The Co-Invest Common Units, together with the Class B
Preferred Units acquired by Executive pursuant to the Prior Senior Management
Agreement and hereunder, shall be referred to herein as the “Co-Invest Units”.

 

(c)   On April 22, 2005,
Executive 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 Senior Management Agreement.
Within 30 days after the purchase of any Carried Common Units hereunder
(including, without limitation, upon the execution hereof), Executive 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 any Executive Securities that are unvested shall be
held by the Company for the benefit of Executive and the other holder(s) of
Executive Securities; provided, however, that certificates representing the
Carried Common Units shall be released when all of the Carried Common Units
represented by such certificates are fully vested. Upon the occurrence of a
Sale of the Company, the Company will return all certificates in its possession
evidencing Executive 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 Vested Carried
Common Units (as defined below).

 

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

 

(i)            The Executive
Securities to be acquired by Executive pursuant to this Agreement will be
acquired for Executive’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 Executive Securities will not be disposed of in
contravention of the Securities Act or any applicable state securities laws.

 

(ii)           Executive is an
executive officer of the Company and/or Employer, is sophisticated in financial
matters and is able to evaluate the risks and benefits of the investment in the
Executive Securities.

 

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

 

2

 

(iv)          Executive is able to
bear the economic risk of his investment in the Executive Securities for an
indefinite period of time because the Executive 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)           Executive has had an
opportunity to ask questions and receive answers concerning the terms and
conditions of the offering of Executive 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 Executive, enforceable
in accordance with its terms, and the execution, delivery and performance of
this Agreement by Executive does not and will not conflict with, violate or
cause a breach of any agreement, contract or instrument to which Executive is a
party or any judgment, order or decree to which Executive is subject.

 

(vii)         Except for (A) the
Employment Agreement, dated August 16, 2001 between Executive and Mitchell
International, as amended by the Amendment to Employment Agreement dated April 22,
2003 (the “Mitchell Employment Agreement”), (B) the
Non-Solicitation and Non-Competition Agreement, dated September 18, 2001,
between Executive and Mitchell International, Inc. (together with the
Mitchell Employment Agreement, the “Mitchell Agreements”), and (C) this
Agreement, Executive is neither party to, nor bound by, any other employment
agreement, consulting agreement, noncompete agreement, non-solicitation
agreement or confidentiality agreement.

 

(viii)        Executive is a resident of
the State of California.

 

(ix)           To Executive’s
knowledge, the representations and warranties of the Company set forth in Sections
5C, 5E(b) and 5F of the Purchase Agreement are true and correct.

 

(f)    As an inducement to the
Company to issue the Executive Securities to Executive, and as a condition
thereto, Executive acknowledges and agrees that neither the issuance of the
Executive Securities to Executive nor any provision contained in this Section 1
shall entitle Executive to remain in the employment of the Company, Employer or
their respective Subsidiaries or affect the right of the Company, Employer or
their respective Subsidiaries to terminate Executive’s employment at any time
for any reason.

 

(g)   In accordance with the terms of
the Prior Senior Management Agreement, Executive has executed in blank ten
security transfer powers (the “Security Powers”) with respect to the
Executive Securities and has delivered such Security Powers to the Company. Concurrently
with the execution of this Agreement, Executive shall execute in blank ten
Security Powers in the form of Exhibit B attached hereto with
respect to the Executive Securities and shall deliver such Security Powers to
the Company. The Security Powers shall authorize the Company to assign,
transfer and deliver the Executive Securities to the appropriate acquiror

 

3

 

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 Senior Management Agreement, Executive’s spouse executed a Spousal
Consent with respect to the Executive Securities. Concurrently with the
execution of this Agreement, if Executive is lawfully married, Executive’s
spouse shall execute the Consent in the form of Exhibit C attached
hereto.

 

(i)    On April 1, 2005,
Executive became a party to the Securityholders Agreement and the Registration
Agreement, in each case, in the capacity of an Executive.

 

(j)    The Company has reserved
932,879 additional Common Units (as defined in the LLC Agreement) (the “Additional
Units”) for issuance to other executives and employees of the Company and
its Subsidiaries (including executives and employees of acquired companies)
after the date hereof; provided that, in the event any portion of such
Additional Units have not been issued prior to a Sale of the Company, the
Company shall, pursuant to Section 3.5 of the LLC Agreement, issue
an aggregate number of Class B Common Units equal to 50% of the portion of
the Additional Units that have not been issued as of such time to Executive and
the other current executives of the Company or its Subsidiaries, in the amounts
and to such executives (including Executive) as directed by Executive to the
Company in writing. This Section 1(j) shall terminate upon the
earlier to occur of a Separation and the consummation of a Sale of the Company.

 

2.     Vesting of Carried Common
Units.

 

(a)   The Co-Invest Units acquired by
Executive pursuant to the Prior Senior Management Agreement vested upon the
purchase thereof. The Carried Common Units shall be subject to vesting in the
manner specified in this Section 2. The Class B Preferred
Units acquired by Executive pursuant to Section 1(b) shall be fully
vested upon the purchase thereof.

 

(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 Executive is
employed by the Company or any of its Subsidiaries:

 

	
  Date

  	
   

  	
  Cumulative Percentage of

  Carried Common Units Vested

  	
   

  
	
  April 1, 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

  	
  %

  

 

4

 

	
  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, Executive has been continuously employed by the Company, Employer
or any of their Subsidiaries from the date of this Agreement through and
including such date. If Executive’s employment is terminated by Employer
without Cause prior to the second anniversary of the date of this Agreement,
notwithstanding Section 2(b) above, the cumulative percentage
of Carried Common Units that shall be deemed to have been vested on the date of
such termination of employment shall be 40%.

 

(d)   In the event of a Public Sale
of Class A Common Units by the Investors, if the number of Vested Common
Units then outstanding is less than the Transfer Amount (as defined in Section 4(b))
applicable to such sale by the Investors, a number of Unvested Carried Common
Units equal to such difference shall become vested in connection with such sale
by the Investors.

 

(e)   If (i) requested by Executive in a written notice to the Company
in connection with a Sale of the Company, and (ii) Executive is a “disqualified
individual” (within the meaning of Section 280G(c) of the Internal
Revenue Code, as amended (the “Code”)) entitled to receive a “parachute
payment” (within the meaning of Code Section 280G(b)) in connection with
such Sale of the Company, and (iii) Executive has waived his 280G Payment
(as defined below) subject to the Member Vote (as defined below), the Company
shall use commercially reasonable efforts prior to the closing of such Sale of
the Company to hold a vote of the Company’s members (the “Member Vote”)
seeking approval of any such parachute payment to the extent such parachute
payment exceeds 2.999 times Executive’s “base amount” (within the meaning of
Code Section 280G(b)(3)) (the “280G Payment”).

 

(f)    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 Carried Common Units (whether vested or unvested and whether held by
Executive or one or more of Executive’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

 

5

 

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) Executive’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 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
Executive’s employment is terminated with Cause, the purchase price for each
Vested Carried Common Unit will be the lesser of (A) Executive’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 Unvested Carried Common Units and/or the Vested Carried Common
Units 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
of Carried Common Units 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. The number of Carried Common Units to be repurchased by the
Company shall first be satisfied to the extent possible from the Carried Common
Units held by Executive at the time of delivery of the Repurchase Notice. If
the number of Carried Common Units then held by Executive is less than the
total number of Carried Common Units that the Company has elected to purchase,
the Company shall purchase the remaining Carried Common Units elected to be
purchased from the other holder(s) of Executive Securities under this Agreement
(i.e., Executive’s Permitted Transferees), pro rata according to the number of
Executive Securities 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 Carried Common
Units to be repurchased hereunder will be allocated among Executive and the
other holders of Executive Securities (if any) pro rata according to the number
of Carried Common Units to be purchased from such Person.

 

(d)   If for any reason the Company
does not elect to purchase all of the Carried Common Units pursuant to the
Repurchase Option, the Investors shall be entitled to exercise the Repurchase
Option for all or any portion of the Unvested Carried Common Units and/or
Vested Carried Common Units 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 of Available Securities and the
purchase price for the 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 greater than the number of Available
Securities, the Available Securities shall be allocated among the Investors
based upon the number of Class A Common Units owned by each

 

6

 

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 Executive Securities as to
the number 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 Executive Securities, the Company shall
also deliver written notice to each Investor setting forth the number 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 Carried Common Units to be repurchased
hereunder shall be allocated among the Company and the Investors pro rata
according to the number of Carried Common Units to be purchased by each of
them.

 

(e)   The closing of the purchase of
the Executive 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 Executive Securities to be purchased by it
pursuant to the Repurchase Option by first offsetting amounts outstanding under
any bona fide debts owed by Executive 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 payable in full in one lump sum on the third anniversary of the date of
issuance and 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)), which interest
shall be payable in cash on a quarterly basis, (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 Executive 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; provided that, to the extent that the Company has
readily available cash resources in excess of its working capital and other
reasonable cash needs and without imposing any obligation on the Company to
raise financing to fund the repurchases or to materially impair its financial
liquidity or condition, the Company shall use reasonable efforts to pay the
purchase price for such Executive Securities pursuant to the foregoing clause
(A). Each Investor will pay for the Executive 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.

 

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 Executive 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
Executive 400.5 Class A Preferred Units, and for purposes of the LLC
Agreement each whole Class A Preferred Unit issued to Executive would as
of its issuance be deemed to have Capital Contributions made for such Class A
Preferred Unit of

 

7

 

$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 Executive
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, provided that with respect to any such equity
financing agreements in effect on the date hereof, only such restrictions as
are set forth in such agreements as in effect on the date hereof shall apply
for purposes of this Section 3.2(f). If any such restrictions prohibit (i) the
repurchase of Executive 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 but in
no event later than 12 months after the date of the Repurchase Notice, and for
any such repurchase that is to be made at Fair Market Value, Fair Market Value
shall be determined as of the date such restrictions lapse.

 

(g)   Notwithstanding anything to the
contrary contained in this Agreement, if the Fair Market Value of Executive
Securities is finally determined to be an amount at least 20% greater than the
per unit repurchase price for such unit of Executive 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 Executive Securities elected to be
repurchased by it by delivering notice of such revocation in writing to the
holders of Executive 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 Executive Securities was finally determined to
be an amount at least 20% greater than the per unit repurchase price for
Executive 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 each Vested Carried Common Unit upon the
consummation of a Public Offering, and with respect to all Executive Securities
upon the consummation of a Sale of the Company.

 

4.     Restrictions on Transfer
of Executive Securities.

 

(a)   Transfer of Executive
Securities. The holders of Executive Securities shall not Transfer any
interest in any Executive 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 Executive 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

 

8

 

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 product of (A) the number of Class A Common Units owned by
Executive and (B) 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, Executive
chooses not to Transfer the Transfer Amount, Executive shall retain the right
to Transfer an amount of Class A Common Units at a future date equal to
the product of the number of Class A Common Units owned by Executive at
such future date and the Transfer Fraction; provided further that any
in-kind distributions of Class A Common Units by the Investors to their
limited partners shall be deemed to be a Public Sale for purposes of this Section 4(b)(ii);
provided further that the restrictions contained in this Section 4
will continue to be applicable to the Executive Securities after any Transfer
of the type referred to in clause (i) above and the transferees of
such Executive Securities must agree in writing to be bound by the provisions
of this Agreement. Any transferee of Executive 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
Executive Securities pursuant to this Section 4(b), the
transferring holder of Executive 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 Executive Securities until the earlier of (i) the
date on which such unit of Executive 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 Executive Securities.

 

(a)   Legend. The certificates
representing the Executive 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 SENIOR MANAGEMENT AGREEMENT BETWEEN THE COMPANY AND AN EXECUTIVE OF
THE COMPANY AND OTHER PARTIES, DATED AS OF APRIL 13, 2006, AS AMENDED. A
COPY OF SUCH AGREEMENT MAY BE OBTAINED BY

 

9

 

THE HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS WITHOUT
CHARGE.”

 

(b)   Opinion of Counsel. No
holder of Executive Securities may Transfer any Executive 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 at
least 10 days prior to such transfer describing in reasonable detail the
proposed Transfer, and, if requested by the Company prior to such Transfer, 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 Executive Securities delivers to the Company an
opinion of counsel that no subsequent Transfer of such Executive Securities
shall require registration under the Securities Act, the Company shall promptly
upon such contemplated Transfer deliver new certificates for such Executive
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 Executive 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.

 

PROVISIONS
RELATING TO EMPLOYMENT

 

6.     Employment.Employer agrees to employ
Executive and Executive accepts such employment for the period beginning as of
the date hereof and ending upon his separation pursuant to Section 6(c) hereof
(the “Employment Period”).

 

(a)   Position and Duties.

 

(i)            During the Employment
Period, Executive shall serve as the President and Chief Executive Officer of
Employer and shall have the normal duties, responsibilities and authority
implied by such position, including, without limitation, the responsibilities
associated with all aspects of the daily operations of Employer and the
identification, negotiation, completion and integration of any acquisitions
made by the Company, Employer or their Subsidiaries, subject to the power of
the Board to expand or limit such duties, responsibilities and authority and to
override actions of the President and Chief Executive Officer.

 

(ii)           Executive shall report
to the Board, and Executive shall devote his reasonable efforts and his full business
time and attention to the business and affairs of the Company, Employer and
their Subsidiaries; provided that in no
event shall Executive be restricted from serving on the boards of directors of
other companies (other than any companies that are in any business that is
competitive with any business of the Company or its Subsidiaries) or purely
philanthropic organizations or participating in philanthropic activities
associated with such organizations, but, in each case, only to the extent that
such service or participation does not interfere with Executive’s employment or
duties hereunder.

 

10

 

(b)   Salary, Bonus and Benefits.
During the Employment Period, Employer will pay Executive a base salary of
$450,000 per annum (as adjusted, the “Annual Base Salary”), which Annual
Base Salary shall increase to $475,000 per annum on July 1, 2007 and shall
increase to $500,000 per annum on July 1, 2008. For the fiscal year ending
June 30, 2007, Executive shall be eligible for an annual bonus (an “Annual
Bonus”) in an amount up to 87.5% of the Annual Base Salary then in effect
based upon the achievement by the Company, Employer and their Subsidiaries of
financial and other objectives set by the Board. For the fiscal year ending June 30,
2008 and for each fiscal year thereafter, Executive shall be eligible for an
Annual Bonus in an amount up to 100% of the Annual Base Salary then in effect
based upon the achievement by the Company, Employer and their Subsidiaries of
financial and other objectives set by the Board. An Annual Bonus, if any, will
be paid to Executive by Employer 120 days after the end of the fiscal year to
which such Annual Bonus relates.

 

(c)   Separation. The
Employment Period will continue until (i) Executive’s resignation,
Disability or death, or (ii) the Board decides to terminate Executive’s
employment with or without Cause. If Executive’s employment is terminated by
Employer without Cause or by Executive with Good Reason, then during the 18-month
period commencing on the date of termination subject to extension pursuant to
the following sentence (the “Severance Period”), Employer shall pay to
Executive an aggregate amount equal to 150% of his Annual Base Salary plus 75%
of any Annual Bonus paid in respect of the fiscal year preceding the date of
termination, payable in equal installments on the Employer’s regular salary
payment dates (the “Wage Severance”), and Executive shall continue to
participate in employee benefit programs for senior executive employees (other
than bonus and incentive compensation plans) to the extent permitted under the
terms of such programs and under applicable law (collectively, the “Severance
Payments”). In addition, Employer shall have the option, by delivering
written notice to the Executive within 12 months after the Separation to extend
the Severance Period for an additional six month or 12-month period during
which time the Company shall continue to make Severance Payments to Executive
at the same annual rate (pro rated as applicable). Notwithstanding the
foregoing, (A) Executive shall not be entitled to receive any payments
pursuant to this Section 6(c) unless Executive has executed
and delivered to Employer a general release in form and substance reasonably
satisfactory to Employer and which shall in no event contain restrictions on
Executive’s future employment broader than those contained in this Agreement
and (B) Executive shall be entitled to receive such payments only so long
as Executive has not breached the provisions of Sections 7 or 8
hereof.

 

7.     Confidential Information.

 

(a)   Obligation to Maintain
Confidentiality. Executive 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, Employer and their
respective Subsidiaries and Affiliates (“Confidential Information”) are
the property of the Company, Employer or such Subsidiaries and Affiliates,
including information concerning acquisition opportunities in or reasonably
related to the Company’s and Employer’s business or industry of which Executive
becomes aware during the Employment Period. Therefore, Executive 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,

 

11

 

(i) becomes generally known to and available for
use by the public other than as a result of Executive’s acts or omissions to
act, (ii) was known to Executive prior to Executive’s employment with
Employer, the Company or any of their Subsidiaries and Affiliates, or (iii) is
required to be disclosed pursuant to any applicable law or court order. Executive
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, Employer 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. Executive
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, Employer’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 Executive (either solely or jointly with others)
while employed by the Company, Employer or any of their respective Subsidiaries
or Affiliates (including any of the foregoing that constitutes any proprietary
information or records) (“Work Product”) belong to the Company, Employer
or such Subsidiary or Affiliate and Executive hereby assigns, and agrees to
assign, all of the above Work Product to the Company, Employer or to such
Subsidiary or Affiliate. Any copyrightable work prepared in whole or in part by
Executive 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,
Employer 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,”
Executive hereby assigns and agrees to assign to the Company, Employer or such
Subsidiary or Affiliate all right, title, and interest, including without
limitation, copyright in and to such copyrightable work. Executive 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 Employment Period) to establish and confirm the Company’s, Employer’s or
such Subsidiary’s or Affiliate’s ownership (including, without limitation,
assignments, consents, powers of attorney, and other instruments). Executive
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. Executive
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
his employment under this Agreement. If no such Work Product is listed,
Executive represents to the Company that he does not now nor has he ever owned,
nor has he made, any such Work Product.

 

12

 

(c)   Third Party Information.
Executive understands that the Company, Employer and their respective
Subsidiaries and Affiliates will receive from third parties confidential or
proprietary information (“Third Party Information”) subject to a duty on
the Company’s, Employer’s and their respective Subsidiaries and Affiliates’
part to maintain the confidentiality of such information and to use it only for
certain limited purposes. During the Employment Period and thereafter, and
without in any way limiting the provisions of Section 7(a) above,
Executive will hold Third Party Information in the strictest confidence and
will not disclose to anyone (other than personnel and consultants of the
Company, Employer or their respective Subsidiaries and Affiliates who need to
know such information in connection with their work for the Company, Employer
or their respective Subsidiaries and Affiliates) or use, except in connection
with his work for the Company, Employer or their respective Subsidiaries and
Affiliates, Third Party Information unless expressly authorized by a member of
the Board in writing.

 

(d)   Use of Information of Prior
Employers. During the Employment Period, Executive will not improperly use
or disclose any confidential information or trade secrets, if any, of any
former employers or any other Person to whom Executive has an obligation of
confidentiality, and will not bring onto the premises of the Company, Employer
or any of their respective Subsidiaries or Affiliates any unpublished documents
or any property belonging to any former employer or any other Person to whom
Executive has an obligation of confidentiality unless consented to in writing
by the former employer or Person. Executive will use in the performance of his
duties only information which is (i) generally known and used by persons
with training and experience comparable to Executive’s and which is (x) common
knowledge in the industry or (y) is otherwise legally in the public domain, (ii) is
otherwise provided or developed by the Company, Employer or any of their
respective Subsidiaries or Affiliates or (iii) in the case of materials,
property or information belonging to any former employer or other Person to
whom Executive has an obligation of confidentiality, approved for such use in
writing by such former employer or Person.

 

8.     Restrictive Covenants.
Executive acknowledges that in the course of his employment with Employer he
will become familiar with the Company’s, Employer’s and their respective
Subsidiaries’ trade secrets and with other confidential information concerning
the Company, Employer and such Subsidiaries and that his services will be of
special, unique and extraordinary value to the Company, Employer and such
Subsidiaries. Therefore, Executive agrees that:

 

(a)   Nonsolicitation. During
the Employment Period and (x) during the Severance Period if the Employment
Period is terminated by the Company or Employer without Cause or by Executive
with Good Reason, or (y) for a period of two years thereafter if the Employment
Period is terminated by Executive, the Company or Employer for any other
reason, Executive shall not directly or indirectly through another entity (i) induce
or attempt to induce any employee of the Company, Employer or their respective
Subsidiaries to leave the employ of the Company, Employer or such Subsidiary,
or in any way interfere with the relationship between the Company, Employer 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, Employer or their
respective Subsidiaries), (ii) hire any person who was an employee of the
Company, Employer or any of their respective Subsidiaries within

 

13

 

180 days after such person ceased to be an employee of
the Company, Employer or any of their respective Subsidiaries, (iii) induce
or attempt to induce any customer, supplier, licensee or other business
relation of the Company, Employer or any of their respective Subsidiaries to
cease doing business with the Company, Employer or such Subsidiary or in any
way interfere with the relationship between any such customer, supplier,
licensee or business relation and the Company, Employer 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, Employer’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, Employer or any of their respective
Subsidiaries and with which the Company, Employer 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, Employer or any of their
respective Subsidiaries in the two year period immediately preceding a
Separation.

 

(b)   Compliance with Prior Agreements.
During the Employment Period, Executive agrees that he will comply with, and
will take reasonable actions that are necessary or desirable in order to comply
with, his obligations under the Mitchell Agreements. Executive acknowledges
that the Company and Employer and GTCR have instructed Executive to do the
same.

 

(c)   Enforcement. If, at the
time of enforcement of Section 7 or this Section 8, 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 which shall in no circumstances be
broader in duration, scope or area than those restrictions provided for herein.
Because Executive’s services are unique and because Executive 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, Employer, 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).

 

(d)   Additional Acknowledgments.
Executive acknowledges that the provisions of this Section 8 are in
consideration of: (i) employment with the Employer, (ii) the issuance
of the Executive Securities by the Company and (iii) additional good and
valuable consideration as set forth in this Agreement. In addition, Executive
agrees and acknowledges that the restrictions contained in Section 7
and this Section 8 do not preclude Executive from earning a
livelihood, nor do they unreasonably impose limitations on Executive’s ability
to earn a living. In addition, Executive acknowledges (i) that the
business of the Company, Employer and their respective Subsidiaries will be
conducted throughout the United States and other jurisdictions where the
Company, Employer or their respective Subsidiaries conduct business during the
Employment Period, (ii) notwithstanding the state of organization or
principal office of the Company, Employer or any of their respective
Subsidiaries, or any of their respective executives or

 

14

 

employees (including the Executive), it is expected
that the Company and Employer will have business activities and have valuable
business relationships within its industry throughout the United States and
other jurisdictions where the Company, Employer or their respective
Subsidiaries conduct business during the Employment Period, and (iii) as
part of his responsibilities, Executive will be traveling throughout the United
States and other jurisdictions where the Company, Employer or their respective
Subsidiaries conduct business during the Employment Period in furtherance of
Employer’s business and its relationships. Executive agrees and acknowledges
that the potential harm to the Company and Employer of the non-enforcement of Section 7
and this Section 8 outweighs any potential harm to Executive of its
enforcement by injunction or otherwise. Executive acknowledges that he has
carefully read this Agreement and has given careful consideration to the
restraints imposed upon Executive 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 Employer now existing or to be
developed in the future. Executive 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.

 

GENERAL
PROVISIONS

 

9.     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 conviction or plea
of no contest for or indictment on a felony or a crime involving moral
turpitude or the commission of any other act or omission involving dishonesty
or fraud, which involves a material matter, with respect to the Company,
Employer or any of their respective Subsidiaries or any of their customers or
suppliers, (ii) substantial and repeated failure to perform duties of the
office held by Executive as reasonably directed by the Board, (iii) gross
negligence or willful misconduct with respect to the Company, Employer or any
of their respective Subsidiaries that is or could reasonably be expected to be
harmful to the Company, Employer or any of their respective Subsidiaries in any
material respect, (iv) conduct tending to bring the Company, Employer or
any of their respective Subsidiaries into substantial public disgrace or
disrepute, and (v) any breach by Executive of Sections 7 or 8
of this Agreement. In the case of a termination for Cause pursuant to clause (ii) above,
Employer agrees that Executive shall have the opportunity to address the Board
before such termination for Cause becomes effective.

 

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

 

15

 

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

 

“Disability” means
the disability of Executive caused by any physical or mental injury, illness or
incapacity as a result of which Executive is or will be unable to effectively
perform the essential functions of Executive’s duties for a continuous period
of more than 60 days or for 90 days (whether or not continuous) within a 180-day
period, as determined by the Board in good faith.

 

“Executive Securities” will continue to be
Executive Securities in the hands of any holder other than Executive (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 Executive
Securities will succeed to all rights and obligations attributable to Executive
as a holder of Executive Securities hereunder. Executive 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 Executive 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.

 

“Fair Market Value” of each unit of Executive
Securities means the average of the closing prices of the sales of such
Executive Securities on all securities exchanges on which such Executive
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
Executive 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 Executive 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 Executive 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 Executive
Securities as determined in good faith by the Board. If Executive reasonably
disagrees with such determination, Executive 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 Executive’s
written notice of objection, the Board and Executive 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 Executive, which appraiser shall submit to
the Board and Executive a report within 30 days of its engagement setting forth
such determination. If the parties are

 

16

 

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 Executive
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 Executive
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,
brothers or sisters, antecedents, descendants (whether natural or adopted) and
the brothers or sisters, antecedents and descendants (whether natural or
adopted) of such Person’s spouse, 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, brothers or sisters, antecedents and/or
descendants or the brothers or sisters, antecedents and/or descendants of such
Person’s spouse, that is and remains solely for the benefit of such Person
and/or such Person’s spouse, brothers or sisters, antecedents and/or
descendants or the brothers or sisters, antecedents and/or descendants or such
Person’s spouse, and any retirement plan for such Person.

 

“Good Reason” means (i) a reduction in
Executive’s Annual Base Salary, (ii) a material diminution in Executive’s
titles or duties inconsistent with his position, or (iii) a change in
Executive’s principal office to a location more than 25 miles from 12230 El
Camino Real, Suite 200, San Diego, California, in each case without the
prior written consent of Executive; provided that written notice of
Executive’s resignation must be delivered to the Company within 30 days after
his actual knowledge of any such event in order for such resignation to be with
Good Reason for any purpose hereunder.

 

“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.

 

“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 Senior Management Agreement or under this
Agreement, $0.10 (as proportionately adjusted for all subsequent unit splits,
unit dividends and other recapitalizations).

 

17

 

“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).

 

“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(c), 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 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 Executive ceasing to be
employed by the Company, Employer or any of their respective Subsidiaries for
any reason.

 

“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

 

18

 

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 Employer 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).

 

10.   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 Employer:

 

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

 

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois 60601

Attention: Stephen
L. Ritchie, P.C.

 

19

 

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 Executive:

 

Tony Aquila

7757 Doug Hill Court

San Diego, CA 92127

Facsimile: (858) 812-3011

 

with a copy to:

 

Fenwick & West
LLP

801 California St.

Mountain View, CA 94041

Attention: Mark A. Leahy

Facsimile: (650) 938-5200

 

20

 

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.

 

11.   General Provisions.

 

(a)   Transfers in Violation of
Agreement. Any Transfer or attempted Transfer of any Executive 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 Executive 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 Senior Management 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 Senior Management 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 Senior Management 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.

 

21

 

(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 Executive, the Company, Employer, the
Investors and their respective successors and assigns (including subsequent
holders of Executive Securities); provided that the rights and
obligations of Executive under this Agreement shall not be assignable except in
connection with a permitted transfer of Executive Securities hereunder.

 

(g)   Choice of Law. The law
of the State of Delaware will govern all questions concerning the relative
rights of the Company, Employer 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)    Executive’s Cooperation.
During the Employment Period and thereafter, Executive shall cooperate with the
Company, Employer 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, Executive
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 Executive’s possession, all at
times and on schedules that are reasonably consistent with Executive’s other

 

22

 

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

 

(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, Employer, Executive and the Majority Holders
(as defined in the Purchase Agreement).

 

(l)    Insurance. The Company,
at its discretion, may apply for and procure in its own name and for its own
benefit life and/or disability insurance on Executive in any amount or amounts
considered available. Executive agrees to cooperate in any reasonable medical
or other examination, supply any information, and to execute and deliver any
applications or other instruments in writing as may be reasonably necessary to
obtain and constitute such insurance. Executive hereby represents that he has
no reason to believe that his life is not insurable at rates now prevailing for
healthy men of his age.

 

(m)  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.

 

(n)   Indemnification and
Reimbursement of Payments on Behalf of Executive. 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 Executive any federal, state,
local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”)
imposed with respect to Executive’s compensation or other payments from the
Company or its Subsidiaries or Executive’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, Executive 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.

 

23

 

(o)   Reasonable Expenses. Employer
agrees to pay the reasonable fees and expenses of Executive’s counsel arising
in connection with the negotiation and execution of this Agreement and the
consummation of the transactions contemplated by this Agreement.

 

(p)   Termination. This
Agreement (except for the provisions of Sections 6(a) and (b))
shall survive a Separation and shall remain in full force and effect after such
Separation.

 

(q)   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.

 

(r)    Deemed Transfer of
Executive 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
Executive 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.

 

(s)   No Pledge or Security
Interest. The purpose of the Company’s retention of Executive’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
Executive of, or the granting of a security interest in, the underlying equity.

 

(t)    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.

 

(u)   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.

 

(v)   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

 

24

 

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.

 

*     *    
*     *     *

 

25

 

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

 

 

	
   

  	
  SOLERA
  HOLDINGS, LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  	
   

  
	
   

  	
  Name:Tony Aquila

  
	
   

  	
  Its:   Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  SOLERA,
  INC.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  	
   

  
	
   

  	
  Name:Tony Aquila

  
	
   

  	
  Its:   Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Tony Aquila

  	
   

  
	
   

  	
  TONY
  AQUILA

  

 

 

Signature Page to Amended
and Restated Senior Management Agreement of Tony Aquila

 

26

 

	
  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 Senior Management Agreement of Tony Aquila

 

27

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