Document:

exv10w17

 

Exhibit 10.17

neither this warrant nor the shares of common stock issuable upon exercise hereof have been
registered under the securities act of 1933, as amended, or any applicable state securities law and
neither may be sold or otherwise transferred until (i) a registration statement under such
securities act and such applicable state securities laws shall have become effective with regard
thereto, or (ii) the company shall have received a written opinion of counsel acceptable to the
company to the effect that registration under such securities act and such applicable state
securities laws is not required in connection with such proposed
transfer.

A SMART MOVE L.L.C

COMMON STOCK PURCHASE WARRANT

			
	Warrant #SVB1
	 	50,000 shares

Original Issue Date: April 12, 2005

     THIS CERTIFIES THAT, FOR VALUE RECEIVED, Silicon Valley Bank or its registered assigns
(“Holder”) is entitled to purchase, on the terms and conditions hereinafter set forth, at any time
or from time to time from the date hereof until 5:00 p.m., Eastern Time, on fifth anniversary of
the Original Issue Date set forth above, or if such date is not a day on which the Company (as
hereinafter defined) is open for business, then the next succeeding day on which the Company is
open for business (such date is the “Expiration Date”), but not thereafter, to purchase up to Fifty
thousand (50,000) shares of the Common Stock, $.001 par value (the “Common Stock”), of A Smart Move
L.L.C., a Colorado limited liability corporation (the “Company”), at a purchase price of one dollar
and twenty five cents ($1.75) per share (the “Exercise Price”), such number of shares and Exercise
Price being subject to adjustment upon the occurrence of the contingencies set forth in this
Warrant. Each share of Common Stock as to which this Warrant is exercisable is a “Warrant Share”
and all such shares are collectively referred to as the “Warrant Shares.”

Section 1. Exercise of Warrant; Conversion of Warrant.

     (a) This Warrant may, at the option of Holder, be exercised in whole or in part from time to
time by delivery to the Company at its principal office, Attention: President, on or before 5:00
p.m., Eastern Time, on the Expiration Date, (i) a written notice of such Holder’s election to
exercise this Warrant (the “Exercise Notice”), which notice may be in the form of the Notice of
Exercise attached hereto, properly executed and completed by Holder or an authorized officer
thereof, (ii) payment for the Warrant Shares (“Payment”), as further described in Section 1(b),
below, and (iii) this Warrant (the items specified in (i), (ii), and (iii) are collectively the
“Exercise Materials”).

     (b) Payment may be made either in (i) a check payable to the order of the Company, in an
amount equal to the product of the Exercise Price multiplied by the number of Warrant Shares
specified in the Exercise Notice, (ii) by delivery of Warrants, Common Stock and/or Common Stock
receivable upon exercise of the Warrants in accordance with Section 1(c) below, or (iii) by a
combination of any of the foregoing methods) for the number of Common Shares specified in such form
(as such exercise number shall be adjusted to reflect any adjustment in the total number of shares
of Common Stock issuable to the holder per the terms of this Warrant) and the holder shall
thereupon be entitled to receive the number of duly authorized, validly issued, fully-paid and
non-assessable shares of Common Stock (or Other Securities) determined as provided herein.

 

 

          (c) Notwithstanding any provisions herein to the contrary, if the Fair Market Value of one
share of Common Stock is greater than the Purchase Price (at the date of calculation as set forth
below), in lieu of exercising this Warrant for cash the holder may elect to receive shares equal to
the value (as determined below) of this Warrant (or the portion thereof being cancelled) by
surrender of this Warrant at the principal office of the Company together with the properly
endorsed Subscription Form in which event the Company shall issue to the holder a number of shares
of Common Stock computed using the following formula:

               X=Y (A-B)

A

         Where X= the number of shares of Common Stock to be issued to the holder

	 	 	Y= 	the number of shares of Common Stock
purchasable under the Warrant or, if only a portion of the Warrant is
being exercised, the portion of the Warrant being exercised (at the
date of such calculation)
	 
	 	 	A= 	the Fair Market Value of one share of the
Company’s Common Stock (at the date of such calculation)
	 
	 	 	B= 	Purchase Price (as adjusted to the date of such calculation)

     (d) Anything contained herein to the contrary notwithstanding, the Holder, at his option, may
exercise the Warrants, in whole or in part, during the Exercise Term by delivering to the Company a
confirmation slip issued by a brokerage firm that is a member of the National Association of
Securities Dealers, Inc. with respect to the sale of those number of Warrant Shares for which the
Warrants are being exercised, and, in such case, the Company shall deliver certificates
representing such Warrant Shares on settlement date at the office of the Company’s stock transfer
agent against payment for such Warrant Shares by such brokerage firm or its clearing broker, made
payable to the Company or made payable to the order of the Holder and endorsed by the Holder to the
Company.

     (e) As promptly as practicable, and in any event within two (2) business days after its
receipt of the Exercise Materials, Company shall execute or cause to be executed and delivered to
Holder a certificate or certificates representing the number of Warrant Shares specified in the
Exercise Notice, together with cash in lieu of any fraction of a share, and if this Warrant is
partially exercised, a new warrant on the same terms for the unexercised balance of the Warrant
Shares. The stock certificate or certificates shall be registered in the name of Holder or such
other name or names as shall be designated in the Exercise Notice. The date on which the Warrant
shall be deemed to have been exercised (the “Effective Date”), and the date the person in whose
name any certificate evidencing the Common Stock issued upon the exercise hereof is issued shall be
deemed to have become the holder of record of such shares, shall be the date the Company receives
the Exercise Materials, irrespective of the date of delivery of a certificate or certificates
evidencing the Common Stock issued upon the exercise or conversion hereof, provided, however, that
if the Exercise Materials are received by the Company on a date on which the stock transfer books
of the Company are closed, the Effective Date shall be the next succeeding date on which the stock
transfer books are open. All shares of Common Stock issued upon the exercise or conversion of this
Warrant will, upon issuance, be fully paid and nonassessable and free from all taxes, liens, and
charges with respect thereto.

     Section 2. Adjustments to Warrant Shares. The number of Warrant Shares issuable upon the
exercise hereof shall be subject to adjustment as follows:

 

 

     (a) In the event the Company is a party to a consolidation, share exchange, or merger,
or the sale of all or substantially all of the assets of the Company to, any person, or in
the case of any consolidation or merger of another corporation into the Company in which the
Company is the surviving corporation, and in which there is a reclassification or change of
the shares of Common Stock of the Company, this Warrant shall after such consolidation,
share exchange, merger, or sale be exercisable for the kind and number of securities or
amount and kind of property of the Company or the corporation or other entity resulting from
such share exchange, merger, or consolidation, or to which such sale shall be made, as the
case may be (the “Successor Company”), to which a holder of the number of shares of Common
Stock deliverable upon the exercise (immediately prior to the time of such consolidation,
share exchange, merger, or sale) of this Warrant would have been entitled upon such
consolidation, share exchange, merger, or sale; and in any such case appropriate adjustments
shall be made in the application of the provisions set forth herein with respect to the
rights and interests of Holder, such that the provisions set forth herein shall thereafter
correspondingly be made applicable, as nearly as may reasonably be, in relation to the
number and kind of securities or the type and amount of property thereafter deliverable upon
the exercise of this Warrant. The above provisions shall similarly apply to successive
consolidations, share exchanges, mergers, and sales. Any adjustment required by this
Section 2 (a) because of a consolidation, share exchange, merger, or sale shall be set forth
in an undertaking delivered to Holder and executed by the Successor Company which provides
that Holder shall have the right to exercise this Warrant for the kind and number of
securities or amount and kind of property of the Successor Company or to which the holder of
a number of shares of Common Stock deliverable upon exercise (immediately prior to the time
of such consolidation, share exchange, merger, or sale) of this Warrant would have been
entitled upon such consolidation, share exchange, merger, or sale. Such undertaking shall
also provide for future adjustments to the number of Warrant Shares and the Exercise Price
in accordance with the provisions set forth in Section 2 hereof.

     (b) In the event the Company should at any time, or from time to time after the
Original Issue Date, fix a record date for the effectuation of a stock split or subdivision
of the outstanding shares of Common Stock or the determination of holders of Common Stock
entitled to receive a dividend or other distribution payable in additional shares of Common
Stock, or securities or rights convertible into, or entitling the holder thereof to receive
directly or indirectly, additional shares of Common Stock (hereinafter referred to as
“Common Stock Equivalents”) without payment of any consideration by such holder for the
additional shares of Common Stock or the Common Stock Equivalents (including the additional
shares of Common Stock issuable upon exercise or exercise thereof), then, as of such record
date (or the date of such dividend, distribution, split, or subdivision if no record date is
fixed), the number of Warrant Shares issuable upon the exercise hereof shall be
proportionately increased and the Exercise Price shall be appropriately decreased by the
same proportion as the increase in the number of outstanding Common Stock Equivalents of the
Company resulting from the dividend, distribution, split, or subdivision. Notwithstanding
the preceding sentence, no adjustment shall be made to decrease the Exercise Price below
$.001 per Share.

     (c) In the event the Company should at any time or from time to time after the Original
Issue Date, fix a record date for the effectuation of a reverse stock split, or a
transaction having a similar effect on the number of outstanding shares of Common Stock of
the Company, then, as of such record date (or the date of such reverse stock split or
similar transaction if no record date is fixed), the number of Warrant Shares issuable upon
the exercise hereof shall be proportionately decreased and the Exercise Price shall be
appropriately increased by the same proportion as the decrease of the number of outstanding
Common Stock Equivalents resulting from the reverse stock split or similar transaction.

 

 

     (d) In the event the Company should at any time or from time to time after the Original
Issue Date, fix a record date for a reclassification of its Common Stock, then, as of such
record date (or the date of the reclassification if no record date is set), this Warrant
shall thereafter be convertible into such number and kind of securities as would have been
issuable as the result of such reclassification to a holder of a number of shares of Common
Stock equal to the number of Warrant Shares issuable upon exercise of this Warrant
immediately prior to such reclassification, and the Exercise Price shall be unchanged.

     (e) The Company will not, by amendment of its Certificate of Incorporation or through
reorganization, consolidation, merger, dissolution, issue, or sale of securities, sale of
assets or any other voluntary action, void or seek to avoid the observance or performance of
any of the terms of the Warrant, but will at all times in good faith assist in the carrying
out of all such terms and in the taking of all such actions as may be necessary or
appropriate in order to protect the rights of Holder against dilution or other impairment.
Without limiting the generality of the foregoing, the Company (x) will not create a par
value of any share of stock receivable upon the exercise of the Warrant above the amount
payable therefor upon such exercise, and (y) will take all such action as may be necessary
or appropriate in order that the Company may validly and legally issue fully paid and
non-assessable shares upon the exercise of the Warrant.

     (f) When any adjustment is required to be made in the number or kind of shares
purchasable upon exercise of the Warrant, or in the Exercise Price, the Company shall
promptly notify Holder of such event and of the number of shares of Common Stock or other
securities or property thereafter purchasable upon exercise of the Warrants and of the
Exercise Price, together with the computation resulting in such adjustment.

     (g) The Company covenants and agrees that all Warrant Shares which may be issued will,
upon issuance, be validly issued, fully paid, and non-assessable. The Company further
covenants and agrees that the Company will at all times have authorized and reserved, free
from preemptive rights, a sufficient number of shares of its Common Stock to provide for the
exercise of the Warrant in full.

     Section 3. No Stockholder Rights. This Warrant shall not entitle Holder hereof to any voting
rights or other rights as a stockholder of the Company.

     Section 4. Transfer of Securities.

     (a) This Warrant and the Warrant Shares and any shares of capital stock received in
respect thereof, whether by reason of a stock split or share reclassification thereof, a
stock dividend
thereon, or otherwise, shall not be transferable except upon compliance with the
provisions of the Securities Act of 1933, as amended (the “Securities Act”) and applicable
state securities laws with respect to the transfer of such securities. The Holder, by
acceptance of this Warrant, agrees to be bound by the provisions of Section 4 hereof and to
indemnify and hold harmless the Company against any loss or liability arising from the
disposition of this Warrant or the Warrant Shares issuable upon exercise hereof or any
interest in either thereof in violation of the provisions of this Warrant.

     (b) Each certificate for the Warrant Shares and any shares of capital stock received in
respect thereof, whether by reason of a stock split or share reclassification thereof, a stock
dividend thereon or otherwise, and each certificate for any such securities issued to subsequent
transferees of any such certificate shall (unless otherwise permitted by the provisions hereof) be
stamped or otherwise imprinted with a legend in substantially the following form:

 

 

“neither this warrant nor the shares of common stock issuable upon exercise
hereof have been registered under the securities act of 1933, as amended, or any
applicable state securities law and neither may be sold or otherwise transferred
until (i) a registration statement under such securities act and such applicable
state securities laws shall have become effective with regard thereto, or (ii) the
company shall have received a written opinion of counsel acceptable to the company
to the effect that registration under such securities act and such applicable state
securities laws is not required in connection with such proposed
transfer.”

     Section 5. Registration.

     All Warrant Shares are subject to the rights and privileges granted to the participants in the
private placement offering pursuant to which this Warrant was issued.

     Section 6. Miscellaneous.

          (a) The terms of this Warrant shall be binding upon and shall inure to the benefit of any
successors or permitted assigns of the Company and Holder.

          (b) Except as otherwise provided herein, this Warrant and all rights hereunder are
transferable by the registered holder hereof in person or by duly authorized attorney on the books
of the Company upon surrender of this Warrant, properly endorsed, to the Company. The Company may
deem and treat the registered holder of this Warrant at any time as the absolute owner hereof for
all purposes and shall not be affected by any notice to the contrary.

          (c) Notwithstanding any provision herein to the contrary, Holder may not exercise, sell,
transfer, or otherwise assign this Warrant unless the Company is provided with an opinion of
counsel satisfactory in form and substance to the Company, to the effect that such exercise, sale,
transfer, or assignment would not violate the Securities Act or applicable state securities laws.

          (d) This Warrant may be divided into separate warrants covering one share of Common Stock or
any whole multiple thereof, for the total number of shares of Common Stock then subject to this
Warrant at any time, or from time to time, upon the request of the registered holder of this
Warrant and the surrender of the same to the Company for such purpose. Such subdivided Warrants
shall be issued promptly by the Company following any such request and shall be of the same form
and tenor as this Warrant, except for any requested change in the name of the registered holder
stated herein.

          (e) Any notices, consents, waivers, or other communications required or permitted to be given
under the terms of this Warrant must be in writing and will be deemed to have been delivered (a)
upon receipt, when delivered personally, (b) upon receipt, when sent by facsimile, provided a copy
is mailed by U.S. certified mail, return receipt requested, (c) three (3) days after being sent by
U.S. certified mail, return receipt requested, or (d) one (1) day after deposit with a nationally
recognized overnight delivery service, in each case properly addressed to the party to receive the
same.

     If to Holder, to the registered address of Holder appearing on the books of the Company. Each
party shall provide five (5) days prior written notice to the other party of any change in address,
which change shall not be effective until actual receipt thereof

          (f) This Warrant shall be construed and enforced in accordance with the laws of the State of
Illinois. The Company and the Holder hereby consent to the jurisdiction of the Courts of the State
of Colorado and the United States District Courts situated therein in connection with any action
concerning the provisions of this Note instituted by the Holder against the Company.

[Signatures on the following page]

 

 

SIGNATURE PAGE

TO

COMPANY

COMMON STOCK PURCHASE WARRANT

     IN WITNESS WHEREOF, the Company, has caused this Warrant to be executed in its name by its
duly authorized officers under seal, and to be dated as of the date first above written.

	 	 	 	 	 
	 	 	A Smart Move L.L.C.
	 
	 	 	 	 
	 

	 	By:	 	/s/ Chris Sapyta
	 

	 	 	 	 
	 

	 	 	 	Name: Chris Sapyta
	 

	 	 	 	Title: Chief Executive Officer

 

 

ASSIGNMENT

     (To be Executed by the Registered Holder to effect a Transfer of the foregoing Warrant)

     FOR VALUE RECEIVED, the undersigned hereby sells, and assigns and transfers unto
                                                                                 the foregoing Warrant
and the rights represented thereto to purchase shares of Common Stock of A SMART MOVE L.L.C. in
accordance with terms and conditions thereof, and does hereby irrevocably constitute and appoint
                     Attorney to transfer the said Warrant on the books of the Company, with full power
of substitution.

	 	 	 	 	 
	 

	 	Holder:
	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Address	 	 
	 
	 	 	 	 
	 

	 	Dated:                                         , 20___	 	 
	 
	 	 	 	 
	 

	 	In the presence of:	 	 
	 
	 	 	 	 
	 

	 	 	 	 

 

 

EXERCISE OR CONVERSION NOTICE

     [To be signed only upon exercise of Warrant]

To:     A SMART MOVE L.L.C.

     The undersigned Holder of the attached Warrant hereby irrevocably elects to exercise the
Warrant for, and to purchase thereunder, ___ shares of Common Stock of A SAMRT MOVE L.L.C, upon
exercise of said Warrant and hereby surrenders said Warrant.

     The undersigned herewith requests that the certificates for such shares be issued in the name
of, and delivered to the undersigned, whose address is                                         .

If electronic book entry transfer, complete the following:

	 	 	 	 	 	 	 	 	 	 	 
	 	 	Account Number:	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	Transaction Code Number:	 	 	 	 
	 

	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 

	 	Dated:	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 

	 	 	 	 	 
	 	 	Holder:
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 

	 	 	 	Name:
	 

	 	 	 	Title:

NOTICE

     The signature above must correspond to the name as written upon the face of the within Warrant
in every particular, without alteration or enlargement or any change whatsoever.exv10w18

 

Exhibit 10.18

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AS AMENDED (THE “ACT”), OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT
TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, PLEDGED OR
HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN
THE OPINION OF LEGAL COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE SECURITIES,
SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM REGISTRATION.

WARRANT TO PURCHASE MEMBERSHIP UNITS

Company: A SMART MOVE L.L.C., a Colorado limited liability company

Number of Membership Units (herein “Shares”): 6,500

Class of Stock: Membership Units

Warrant Price per Share: $5.00, in the event that less than $500,000 is raised and received by the
Company on or prior January 9, 2006 from the sale of convertible subordinated notes, provided that
if more than $500,000 is so raised and received on or prior to January 9 2006, then the Warrant
Price per Share shall be the lesser of (i) $7.50, or (ii) 75% of the price per Share received by
the Company in the initial public offering of the Company’s equity securities, but in no event
lower than $5.00.

Issue Date: The Warrant Effective Date, which is the date on which the Holder executes this
Warrant.

Expiration Date: The seventh (7th) anniversary after the Issue Date

     THIS WARRANT CERTIFIES THAT, for the agreed upon value of $1.00 and for other good and
valuable consideration, SILICON VALLEY BANK (“Holder”) is entitled to purchase the number of fully
paid and nonassessable shares of the class of securities (the “Shares”) of the company (the
“Company”) at the Warrant Price all as set forth above and as adjusted pursuant to Article 2 of
this Warrant, subject to the provisions and upon the terms and conditions set forth in this
Warrant.

ARTICLE 1. EXERCISE.

          1.1 Method of Exercise. Holder may exercise this Warrant by delivering a duly
executed Notice of Exercise in substantially the form attached as Appendix 1 to the principal
office of the Company. Unless Holder is exercising the conversion right set forth in Article 1.2,
Holder shall also deliver to the Company a check, wire transfer (to an account designated by the
Company), or other from of payment acceptable to the Company for the aggregate Warrant Price for
the Shares being purchased.

          1.2 Conversion Right. In lieu of exercising this Warrant as specified in Article 1.1,
Holder may from time to time convert this Warrant, in whole or in part, into a number of Shares
determined by dividing (a) the aggregate fair market value of the Shares or other securities
otherwise issuable upon exercise of this Warrant minus the aggregate Warrant Price of such Shares
by (b) the fair market value of one Share. The fair market value of the Shares shall be determined
pursuant to Article 1.3.

          1.3 Fair Market Value. If the Company’s common stock is traded in a public market and
the shares are common stock, the fair market value of each Share shall be the closing price of a
Share reported for the business day immediately before Holder delivers its Notice of Exercise to
the Company (or in the instance where the Warrant is exercised immediately prior to the
effectiveness of the Company’s initial public offering, the “price to public” per share price
specified in the final prospectus relating to such offering). If the Company’s common stock is
traded in a public market and the Shares are preferred stock, the fair market value of a Share
shall be the closing price of a share of the Company’s common stock reported for the business day
immediately before Holder delivers its Notice of Exercise to the Company (or, in the instance where
the Warrant is exercised immediately prior to the effectiveness of the Company’s initial public
offering, the initial “price to public” per share price specified in the final prospectus relating
to such offering), in both cases, multiplied by the number of shares of the Company’s common stock
into which a Share is convertible. If the Company’s common stock is not traded in a public
market, the Board of Directors of the Company shall determine fair market value in its reasonable
good faith judgment.

 

 

1.4 Delivery of Certificate and New Warrant. Promptly after Holder exercises or converts
this Warrant and, if applicable, the Company receives payment of the aggregate Warrant Price, the
Company shall deliver to Holder certificates for the Shares acquired and, if this Warrant has not
been fully exercised or converted and has not expired, a new Warrant representing the Shares not so
acquired.

          1.5 Replacement of Warrants. On receipt of evidence reasonably satisfactory to the
Company of the loss, theft, destruction or mutilation of this Warrant and, in the case of loss,
theft or destruction, on delivery of an indemnity agreement reasonably satisfactory in form and
amount to the Company or, in the case of mutilation, or surrender and cancellation of this Warrant,
the Company shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor.

          1.6 Treatment of Warrant Upon Acquisition of Company.

               1.6.1 “Acquisition”. For the purpose of this Warrant, “Acquisition” means any sale,
license, or other disposition of all or substantially all of the assets of the Company, or any
reorganization, consolidation, or merger of the Company where the holders of the Company’s
securities before the transaction beneficially own less than 50% of the outstanding voting
securities of the surviving entity after the transaction.

               1.6.2 Treatment of Warrant at Acquisition.

A) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that
is not an asset sale and in which the sole consideration is cash, either (a) Holder shall exercise
its conversion or purchase right under this Warrant and such exercise will be deemed effective
immediately prior to the consummation of such Acquisition or (b) if Holder elects not to exercise
the Warrant, this Warrant will expire upon the consummation of such Acquisition. The Company shall
provide the Holder with written notice of its request relating to the foregoing (together with such
reasonable information as the Holder may request in connection with such contemplated Acquisition
giving rise to such notice), which is to be delivered to Holder not less than ten (10) days prior
to the closing of the proposed Acquisition.

B) Upon the written request of the Company, Holder agrees that, in the event of an Acquisition that
is an “arms length” sale of all or substantially all of the Company’s assets (and only its assets)
to a third party that is not an Affiliate (as defined below) of the Company (a “True Asset Sale”),
either (a) Holder shall exercise its conversion or purchase right under this Warrant and such
exercise will be deemed effective immediately prior to the consummation of such Acquisition or (b)
if Holder elects not to exercise the Warrant, this Warrant will continue until the Expiration Date
if the Company continues as a going concern following the closing of any such True Asset Sale. The
Company shall provide the Holder with written notice of its request relating to the foregoing
(together with such reasonable information as the Holder may request in connection with such
contemplated Acquisition giving rise to such notice), which is to be delivered to Holder not less
than ten (10) days prior to the closing of the proposed Acquisition.

C) Upon the closing of any Acquisition other than those particularly described in subsections (A)
and (B) above, the successor entity shall assume the obligations of this Warrant, and this Warrant
shall be exercisable for the same securities, cash, and property as would be payable for the Shares
issuable upon exercise of the unexercised portion of this Warrant as if such Shares were
outstanding on the record date for the Acquisition and subsequent closing. The Warrant Price and/or
number of Shares shall be adjusted accordingly.

As used herein “Affiliate” shall mean any person or entity that owns or controls directly
or indirectly ten (10) percent or more of the stock of Company, any person or entity that controls
or is controlled by or is under common control with such persons or entities, and each of such
person’s or entity’s officers, directors, joint venturers or partners, as applicable.

2

 

ARTICLE 2. ADJUSTMENTS TO THE SHARES.

          2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on the
Shares payable in common stock, or other securities, then upon exercise of this Warrant, for each
Share acquired, Holder shall receive, without cost to Holder, the total number and kind of
securities to which Holder would have been entitled had Holder owned the Shares of record as of the
date the dividend occurred. If the Company subdivides the Shares by reclassification or otherwise
into a greater number of shares or takes any other action which increase the amount of stock into
which the Shares are convertible, the number of shares purchasable hereunder shall be
proportionately increased and the Warrant Price shall be proportionately decreased. If the
outstanding shares are combined or consolidated, by reclassification or otherwise, into a lesser
number of shares, the Warrant Price shall be proportionately increased and the number of Shares
shall be proportionately decreased.

          2.2 Reclassification, Exchange, Combinations or Substitution. Upon any
reclassification, exchange, substitution, or other event that results in a change of the number
and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall
be entitled to receive, upon exercise or conversion of this Warrant, the number and kind of
securities and property that Holder would have received for the Shares if this Warrant had been
exercised immediately before such reclassification, exchange, substitution, or other event. Such
an event shall include any automatic conversion of the outstanding or issuable securities of the
Company of the same class or series as the Shares to common stock pursuant to the terms of the
Company’s Articles or Certificate (as applicable) of Incorporation upon the closing of a registered
public offering of the Company’s common stock. The Company or its successor shall promptly issue
to Holder an amendment to this Warrant setting forth the number and kind of such new securities or
other property issuable upon exercise or conversion of this Warrant as a result of such
reclassification, exchange, substitution or other event that results in a change of the number
and/or class of securities issuable upon exercise or conversion of this Warrant. The amendment to
this Warrant shall provide for adjustments which shall be as nearly equivalent as may be
practicable to the adjustments provided for in this Article 2 including, without limitation,
adjustments to the Warrant Price and to the number of securities or property issuable upon exercise
of the new Warrant. The provisions of this Article 2.2 shall similarly apply to successive
reclassifications, exchanges, substitutions, or other events.

          2.3 Adjustments for Diluting Issuances. The Warrant Price and the number of Shares
issuable upon exercise of this Warrant or, if the Shares are Preferred Stock, the number of shares
of common stock issuable upon conversion of the Shares, shall be subject to adjustment, from time
to time in the manner set forth in the Company’s Articles or Certificate of Organization or
Operating Agreement as if the Shares were issued and outstanding on and as of the date of any such
required adjustment. The provisions set forth for the Shares in the Company’s Articles or
Certificate (as applicable) of Organization or Operating Agreement relating to the above in effect
as of the Issue Date may not be amended, modified or waived, without the prior written consent of
Holder unless such amendment, modification or waiver affects the rights associated with the Shares
in the same manner as such amendment, modification or waiver affects the rights associated with all
other shares of the same series and class as the Shares granted to the Holder.

          2.4 No Impairment. The Company shall not, by amendment of its Articles or Certificate
(as applicable) of Organization or Operating Agreement or through a reorganization, transfer of
assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary
action, avoid or seek to avoid the observance or performance of any of the terms to be observed or
performed under this Warrant by the Company, but shall at all times in good faith assist in
carrying out of all the provisions of this Article 2 and in taking all such action as may be
necessary or appropriate to protect Holder’s rights under this Article against impairment.

          2.5 Fractional Shares. No fractional Shares shall be issuable upon exercise or
conversion of the Warrant and the number of Shares to be issued shall be rounded down to the
nearest whole Share. If a fractional share interest arises upon any exercise or conversion of the
Warrant, the

3

 

Company shall eliminate such fractional share interest by paying Holder the amount computed by
multiplying the fractional interest by the fair market value of a full Share.

          2.6 Certificate as to Adjustments. Upon each adjustment of the Warrant Price, the
Company shall promptly notify Holder in writing, and, at the Company’s expense, promptly compute
such adjustment, and furnish Holder with a certificate of its Chief Financial Officer setting forth
such adjustment and the facts upon which such adjustment is based. The Company shall, upon written
request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date
thereof and the series of adjustments leading to such Warrant Price.

ARTICLE 3. REPRESENTATIONS AND COVENANTS OF THE COMPANY.

          3.1 Representations and Warranties. The Company represents and warrants to the Holder
as follows:

               (a) The initial Warrant Price referenced on the first page of this Warrant is not greater than
(i) the price per share at which the Shares were last issued in an arms-length transaction in which
at least $500,000 of the Shares were sold and (ii) the fair market value of the Shares as of the
date of this Warrant.

               (b) All Shares which may be issued upon the exercise of the purchase right represented by this
Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance,
be duly authorized, validly issued, fully paid and nonassessable, and free of any liens and
encumbrances except for restrictions on transfer provided for herein or under applicable federal
and state securities laws.

               (c) The Capitalization Table previously provided to Holder remains true and complete as of the
Issue Date.

          3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any
dividend or distribution upon any of its stock, whether in cash, property, stock, or other
securities and whether or not a regular cash dividend; (b) to offer for sale additional shares of
any class of stock in a private equity round of financing (which shall not include issuances of
stock options, warrants or convertible debt instruments); (c) to effect any reclassification or
recapitalization of any of its stock; (d) to merge or consolidate with or into any other
corporation, or sell, lease, license, or convey all or substantially all of its assets, or to
liquidate, dissolve or wind up; or (e) offer holders of registration rights the opportunity to
participate in an underwritten public offering of the company’s securities for cash, then, in
connection with each such event, the Company shall give Holder: (1) at least 10 days prior written
notice of the date on which a record will be taken for such dividend, distribution, or subscription
rights (and specifying the date on which the holders of common stock will be entitled thereto) or
for determining rights to vote, if any, in respect of the matters referred to in (c) and (d) above;
(2) in the case of the matters referred to in (c) and (d) above at least 10 days prior written
notice of the date when the same will take place (and specifying the date on which the holders of
common stock will be entitled to exchange their common stock for securities or other property
deliverable upon the occurrence of such event); and (3) in the case of the matter referred to in
(e) above, the same notice as is given to the holders of such registration rights.

          3.3 Registration Under Securities Act of 1933, as amended. The Company agrees that
the Shares or, if the Shares are convertible into common stock of the Company, such common stock,
shall have certain incidental, or “Piggyback,” registration rights pursuant to and as set forth in
the Company’s Investor Rights Agreement or similar agreement. The provisions set forth in the
Company’s Investors’ Right Agreement or similar agreement relating to the above in effect as of the
Issue Date may not be amended, modified or waived without the prior written consent of Holder
unless such amendment, modification or waiver affects the rights associated with the Shares in the
same manner as such amendment, modification, or waiver affects the rights associated with all other
shares of the same series and class as the Shares granted to the Holder.

4

 

          3.4 No Shareholder Rights. Except as provided in this Warrant, the Holder will not
have any rights as a shareholder of the Company until the exercise of this Warrant.

          ARTICLE 4. REPRESENTATIONS, WARRANTIES OF THE HOLDER. The Holder represents and warrants
to the Company as follows:

          4.1 Purchase for Own Account. This Warrant and the securities to be acquired upon
exercise of this Warrant by the Holder will be acquired for investment for the Holder’s account,
not as a nominee or agent, and not with a view to the public resale or distribution within the
meaning of the Act. Holder also represents that the Holder has not been formed for the specific
purpose of acquiring this Warrant or the Shares.

          4.2 Disclosure of Information. The Holder has received or has had full access to all
the information it considers necessary or appropriate to make an informed investment decision with
respect to the acquisition of this Warrant and its underlying securities. The Holder further has
had an opportunity to ask questions and receive answers from the Company regarding the terms and
conditions of the offering of this Warrant and its underlying securities and to obtain additional
information (to the extent the Company possessed such information or could acquire it without
unreasonable effort or expense) necessary to verify any information furnished to the Holder or to
which the Holder has access.

          4.3 Investment Experience. The Holder understands that the purchase of this Warrant
and its underlying securities involves substantial risk. The Holder has experience as an investor
in securities of companies in the development stage and acknowledges that the Holder can bear the
economic risk of such Holder’s investment in this Warrant and its underlying securities and has
such knowledge and experience in financial or business matters that the Holder is capable of
evaluating the merits and risks of its investment in this Warrant and its underlying securities
and/or has a preexisting personal or business relationship with the Company and certain of its
officers, directors or controlling persons of a nature and duration that enables the Holder to be
aware of the character, business acumen and financial circumstances of such persons.

          4.4 Accredited Investor Status. The Holder is an “accredited investor” within the
meaning of Regulation D promulgated under the Act.

          4.5 The Act. The Holder understands that this Warrant and the Shares issuable upon
exercise or conversion hereof have not been registered un the Act in reliance upon a specific
exemption therefrom, which exemption depends upon, among other things, the bona fide nature of the
Holder’s investment intent as expressed herein. The Holder understands that this Warrant and the
Shares issued upon any exercise or conversion hereof must be held indefinitely unless subsequently
registered under the 1933 Act and qualified under applicable state securities laws, or unless
exemption from such registration and qualification are otherwise available.

ARTICLE 5. MISCELLANEOUS.

          5.1 Term: This Warrant is exercisable in whole or in part at any time and from time
to time on or before the Expiration Date. 

          5.2 Legends. This Warrant and the Shares (and the securities issuable, directly or
indirectly, upon conversion of the Shares, if any) shall be imprinted with a legend in
substantially the following form:

THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED
UNDER THE ACT, OR THE SECURITIES LAWS OF ANY STATE AND, EXCEPT AND PURSUANT
TO THE PROVISIONS OF ARTICLE 5 BELOW, MAY NOT BE OFFERED, SOLD OR OTHERWISE
TRANSFERRED, PLEDGED OR HYPOTHECATED UNLESS AND UNTIL REGISTERED UNDER

5

 

SAID ACT AND APPLICABLE STATE SECURITIES LAW OR, IN THE OPINION OF LEGAL
COUNSEL IN FORM AND SUBSTANCE SATISFACTORY TO THE ISSUER OF THESE
SECURITIES, SUCH OFFER, SALE OR TRANSFER, PLEDGE OR HYPOTHECATION IS EXEMPT
FROM REGISTRATION.

          5.3 Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable
upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion
of the Shares, if any) may not be transferred or assigned in whole or in part without compliance
with applicable federal and state securities laws by the transferor and the transferee (including,
without limitation, the delivery of investment representation letters and legal opinions reasonably
satisfactory to the Company, as reasonably requested by the Company). The Company shall not
require Holder to provide an opinion of counsel if the transfer is to Holder’s parent company, SVB
Financial Group (formerly Silicon Valley Bancshares), or any other affiliate of Holder.
Additionally, the Company shall also not require an opinion of counsel if there is no material
question as to the availability of current information as referenced in Rule 144(c), Holder
represents that it has complied with Rule 144(d) and (e) in reasonable detail, the selling broker
represents that it has complied with Rule 144(f), and the Company is provided with a copy of
Holder’s notice of proposed sale.

          5.4 Transfer Procedure. Upon receipt by Holder of the executed Warrant, Holder will
transfer all of this Warrant to Holder’s parent company, SVB Financial Group, by execution of an
Assignment substantially in the form of Appendix 2. Subject to the provisions of Article 5.3 and
upon providing Company with written notice, SVB Financial Group and any subsequent Holder may
transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the
Shares issuable directly or indirectly, upon conversion of the Shares, if any) to any transferee,
provided, however, in connection with any such transfer, SVB Financial Group or any subsequent
Holder will give the Company notice of the portion of the Warrant being transferred with the name,
address and taxpayer identification number of the transferee and Holder will surrender this Warrant
to the Company for reissuance to the transferee(s) (and Holder if applicable). The Company may
refuse to transfer this Warrant or the Shares to any person who directly competes with the Company,
unless, in either case, the stock of the Company is publicly traded.

          5.5 Notices. All notices and other communications from the Company to the Holder, or
vice versa, shall be deemed delivered and effective when given personally or mailed by first-class
registered or certified mail, postage prepaid, at such address as may have been furnished to the
Company or the Holder, as the case may (or on the first business day after transmission by
facsimile) be, in writing by the Company or such holder from time to time. Effective upon receipt
of the fully executed Warrant and the initial transfer described in Article 5.4 above, all notices
to the Holder shall be addressed as follows until the Company receives notice of a change of
address in connection with a transfer or otherwise:

SVB Financial Group

Attn: Treasury Department

3003 Tasman Drive, HA 200

Santa Clara, CA 95054

Telephone: 408-654-7400

Facsimile: 408-496-2405

     Notice to the Company shall be addressed as follows until the Holder receives notice of a
change in address:

A SMART MOVE L. L. C.

Attn:                     

5350 Roslyn Street, Suite 380

Greenwood Village, CO 80111

Telephone: 720-488-0204

Facsimile:                    

6

 

          5.6 Waiver. This Warrant and any term hereof may be changed, waived, discharged or
terminated only by an instrument in writing signed by the party against which enforcement of such
change, waiver, discharge or termination is sought.

          5.7 Attorney’s Fees. In the event of any dispute between the parties concerning the
terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to
collect from the other party all costs incurred in such dispute, including reasonable attorney’s
fees.

          5.8 Automatic Conversion upon Expiration. In the event that, upon the Expiration
Date, the fair market value of one Share (or other security issuable upon the exercise hereof) as
determined in accordance with Section 1.3 above is greater than the Exercise Price in effect on
such date, then this Warrant shall automatically be deemed on and as of such date to be converted
pursuant to Section 1.2 above as to all Shares (or such other securities) for which it shall not
previously have been exercised or converted, and the Company shall promptly deliver a certificate
representing the Shares (or such other securities) issued upon such conversion to the Holder.

          5.9 Counterparts. This Warrant may be executed in counterparts, all of which together
shall constitute one and the same agreement.

          5.10 Governing Law. This Warrant shall be governed by and construed in accordance
with the laws of the State of Colorado, without giving effect to its principles regarding conflicts
of law.

	 	 	 	 	 	 	 
	 	 	“COMPANY”

A SMART MOVE L.L.C.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Chris Sapyta	 	 
	 

	 	 	 	 

	 	 
	 	 	Name: Chris Sapyta	 	 
	 	 	Title: Manager	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Steven M. Bathgate	 	 
	 

	 	 	 	 	 	 
	 	 	Name: Steven M. Bathgate	 	 
	 	 	Title: Manager	 	 
	 
	 	 	 	 	 	 
	 	 	“HOLDER”

Silicon Valley Bank	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Kevin Grossman	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

	 	 	 	 	 	 	 
	 

	 	Warrant Effective Date:
	 	 	 	 
	 

	 	 	 	 

	 	 

7

 

APPENDIX 1

NOTICE OF EXERCISE

     1. Holder
elects to purchase
                     shares of the Common/Series ___ Preferred [strike
one] Stock of A SMART MOVE L.L.C. pursuant to the terms of the attached Warrant, and tenders
payment of the purchase price of the shares in full.

          [or]

     1. Holder elects to convert the attached Warrant into Shares/cash [strike one] in the manner
specified in the Warrant. This conversion is exercised for                                          of the Shares
covered by the Warrant.

     [Strike paragraph that does not apply.]

     2. Please issue a certificate or certificates representing the shares in the name specified
below:

	 	 	 	 	 
	 

	 	 

	 	 
	 

	 	           Holders Name	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	           (Address)	 	 

     3. By its execution below and for the benefit of the Company, Holder hereby restates each of
the representations and warranties in Article 4 of the Warrant as the date hereof.

	 	 	 	 	 
	 	 	HOLDER:
	 
	 	 	 	 
	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	(Date):	 	 
	 

	 	 	 	 

8

 

APPENDIX 2

ASSIGNMENT

     For value received, Silicon Valley Bank hereby sells, assigns and transfers unto

	 	 	 	 	 
	 

	 	Name:
	 	SVB Financial Group
	 

	 	Address:
	 	3003 Tasman Drive (HA-200)
	 

	 	 	 	Santa Clara, CA 95054
	 
	 	 	 	 
	 

	 	Tax ID:
	 	 91-1962278 

     that certain Warrant to Purchase Stock issued by A SMART MOVE L.L.C.

     (the “Company”), on ___, 2005 (the “Warrant”) together with all rights,
title and interest therein.

	 	 	 	 	 
	 	 	SILICON VALLEY BANK
	 
	 	 	 	 
	 

	 	By:___	 	 
	 

	 	Name:	 	 
	 

	 	Title:	 	 

Date: [insert Issue Date]

By its execution below, and for the benefit of the Company, SVB Financial Group makes each of the
representations and warranties set forth in Article 4 of the Warrant as of the date hereof.

	 	 	 	 	 	 	 
	 	 	SVB FINANCIAL GROUP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Title:	 	 	 	 
	 

	 	 	 	 	 	 

9

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00111-of-00352.parquet"}]]