Document:

Exhibit 10.4

Exhibit 10.4

AMENDMENT NO. 1 TO REGISTRATION RIGHTS AGREEMENT

This AMENDMENT NO. 1 TO REGISTRATION RIGHTS AGREEMENT (this “Amendment”) is dated as of April
23, 2009, between Westwood One, Inc. (the “Company”), and Gores Radio Holdings, LLC (together with
its designees that are affiliates of The Gores Group, LLC, the “Purchasers”). Capitalized terms
used herein and not otherwise defined shall have the meaning ascribed to them in the Registration
Rights Agreement (as defined below).

W I T N E S S E T H:

WHEREAS, the Company and the Purchasers previously entered into a Registration Rights
Agreement dated as of March 3, 2008 (the “Registration Rights Agreement”);

WHEREAS, the Purchasers are the Holders of a majority of the Registrable Securities as of the
date of this Amendment; and

WHEREAS, the parties desire to amend certain provisions of the Registration Rights Agreement
in accordance with Section 10(b) thereof.

NOW THEREFORE, the parties, intending to be legally bound, do hereby agree as follows:

1. The definition of “Registrable Securities” is hereby amended and restated in its entirety
as follows:

“Registrable Securities” means any Common Stock (including any Common Stock issuable upon
the conversion of any outstanding shares of preferred stock or the exercise of any warrants of
the Company) issued or issuable to the Purchasers pursuant to the transactions contemplated by
(i) the Purchase Agreement, and (ii) the 2009 Purchase Agreement, together, in each case, with
any securities issued or issuable upon any stock split, stock dividend or other distribution or
in connection with a combination of shares, recapitalization, merger, consolidation or similar
event with respect to the foregoing; provided, however, that Registrable Securities shall not
include any securities a Holder is permitted to sell pursuant to Rule 144 without volume
limitations or any other restrictions.

2. The following definitions are hereby added to Section 1 in the appropriate alphabetical
order:

“2009 Purchase Agreement” means the Purchase Agreement, dated April 23, 2009, between the
Company and the Purchasers.

“Investor Rights Agreement” means the Investor Rights Agreement, dated April 23, 2009,
among the Company, the Purchasers and the other investors party thereto.

“Investor Stockholder Registrable Securities” means “Registrable Securities” as defined in
the Investor Rights Agreement.

“Investor Stockholders” has the meaning given to it in the Investor Rights Agreement.

 

 

 

3. Section 10(d) is hereby amended and restated in its entirety as follows:

(d) No Piggyback on Registrations. Except as and to the extent specified in (i)
Schedule 3.1(g) to the Purchase Agreement and (ii) the Investor Rights Agreement, neither the
Company nor any of its security holders (other than the Holders in such capacity pursuant
hereto) may include securities of the Company in a Registration Statement other than the
Registrable Securities, and the Company shall not after the date hereof enter into any contract
providing any such right to any of its security holders. In addition, the Purchasers agree that
should any Investor Stockholder properly exercise its registration rights in accordance with the
terms of the Investor Rights Agreement, the cut back provisions of the Investor Rights Agreement
shall supercede the cutback provisions set forth in Sections 3(b), 5(b) and 5(c) hereof with
respect to the relative participation of the Purchasers and the Investor Stockholders.

4. Miscellaneous.

(a) Effect of Amendment. Except as specifically amended hereby, the Registration
Rights Agreement is in all respects acknowledged, ratified and confirmed, and shall continue in
full force and effect in accordance with the terms thereof as amended and supplemented by this
Amendment. This Amendment is limited as expressly specified, and shall not constitute an
amendment, modification, acceptance or waiver of any other provision of the Registration Rights
Agreement. The Registration Rights Agreement and this Amendment, shall be read, taken and
construed as one and the same agreement, and the Registration Rights Agreement is hereby amended
accordingly. From and after the effectiveness of this Amendment, all references to the
Registration Rights Agreement in any other document, instrument, agreement or writing shall be
deemed to be references to the Registration Rights Agreement as amended hereby.

(b) Execution. This Amendment may be executed in two or more counterparts, all of
which when taken together shall be considered one and the same agreement and shall become effective
when counterparts have been signed by each party and delivered to the other party, it being
understood that both parties need not sign the same counterpart. If any signature is delivered by
facsimile or electronic transmission, such signature shall create a valid and binding obligation of
the party executing (or on whose behalf such signature is executed) the same with the same force
and effect as if such facsimile or electronically transmitted signature page were an original
thereof.

(c) Severability. If any provision of this Amendment is held to be invalid or
unenforceable in any respect, the validity and enforceability of the remaining terms and provisions
of this Amendment shall not in any way be affected or impaired thereby and the parties will attempt
in good faith to agree upon a valid and enforceable provision that is a reasonable substitute
therefor and effects the original intent of the parties as closely as possible, and upon so
agreeing, shall incorporate such substitute provision in this Amendment.

(d) Governing Law; Venue. All questions concerning the construction, validity,
enforcement and interpretation of this Amendment shall be governed by and construed and enforced in
accordance with the internal laws of the State of New York.

 

- 2 -

 

IN WITNESS WHEREOF, the parties have executed this Amendment as of the date first written
above.

	 	 	 	 	 
	 	WESTWOOD ONE, INC.

 	 
	 	By:  	/s/
David Hillman
 	 
	 	 	Name:  	David Hillman 	 
	 	 	Title:  	Chief Administrative Officer, Secretary and

General Counsel 	 

 

- 3 -

 

	 	 	 	 	 
	 	GORES RADIO HOLDINGS, LLC

 	 
	 	By:  	THE GORES GROUP, LLC, its Manager
 	 
	 	 	 	 
	 	By:  	/s/ Steven G. Eisner
 	 
	 	 	Name:  	Steven G. Eisner 	 
	 	 	Title:  	Vice President 	 

 

- 4 -Exhibit 10.5

Exhibit 10.5

 

INVESTOR RIGHTS AGREEMENT

Among

WESTWOOD ONE, INC.,

GORES RADIO HOLDINGS, LLC

AND

CERTAIN OTHER INVESTORS

 

Dated as of April 23, 2009

 

 

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I.

	 
	 	 	 	 
	DEFINITIONS; RULES OF CONSTRUCTION

	 
	 	 	 	 
	SECTION 1.01. Definitions
	 	 	1	 
	SECTION 1.02. Rules of Construction
	 	 	5	 
	 
	 	 	 	 
	ARTICLE II.

	 
	 	 	 	 
	REPRESENTATIONS AND WARRANTIES

	 
	 	 	 	 
	ARTICLE III.

	 
	 	 	 	 
	SHARE TRANSFERS

	 
	 	 	 	 
	SECTION 3.01. Restrictive Legend
	 	 	6	 
	SECTION 3.02. Transfers / Securities Laws
	 	 	7	 
	SECTION 3.03. Improper Transfer; Joinder Agreements
	 	 	7	 
	SECTION 3.04. Public Company Listing
	 	 	7	 
	 
	 	 	 	 
	ARTICLE IV.

	 
	 	 	 	 
	RIGHTS OF CERTAIN STOCKHOLDERS

	 
	 	 	 	 
	SECTION 4.01. Tag-Along Rights
	 	 	7	 
	SECTION 4.02. Drag-Along Rights
	 	 	9	 
	SECTION 4.03. Preemptive Notice
	 	 	10	 
	SECTION 4.04. Board of Directors
	 	 	11	 
	SECTION 4.05. Charter Amendment
	 	 	11	 
	SECTION 4.06. Piggyback Registration Rights
	 	 	12	 
	SECTION 4.07. ADTV
	 	 	13	 
	 
	 	 	 	 
	ARTICLE V.

	 
	 	 	 	 
	MISCELLANEOUS

	 
	 	 	 	 
	SECTION 5.01. Notices
	 	 	14	 
	SECTION 5.02. Binding Effect; Benefits
	 	 	14	 
	SECTION 5.03. Amendment
	 	 	14	 
	SECTION 5.04. Assignability
	 	 	14	 
	SECTION 5.05. Governing Law; Venue; Waiver of Jury Trial
	 	 	15	 
	SECTION 5.06. Enforcement
	 	 	15	 
	SECTION 5.07. Severability
	 	 	15	 
	SECTION 5.08. Section and Other Headings
	 	 	15	 
	SECTION 5.09. Counterparts
	 	 	15	 
	SECTION 5.10. Entire Agreement
	 	 	16	 
	SECTION 5.11. Termination of Certain Provisions
	 	 	16	 
	SECTION 5.12. Information
	 	 	16	 
	 

 

i

 

INVESTOR RIGHTS AGREEMENT

THIS INVESTOR RIGHTS AGREEMENT (the “Agreement”), dated as of April 23, 2009, among
Westwood One, Inc., a Delaware corporation (the “Company”), Gores Radio Holdings, LLC
(“Gores”), and the other investors identified on the signature pages hereto (the
“Original Investor Stockholders”) and the parties executing a Joinder Agreement (as
defined below) in accordance with the terms hereof.

WHEREAS, the parties hereto desire to enter into this Agreement to provide for certain rights
and restrictions with respect to the Capital Stock (as defined below).

NOW, THEREFORE, the parties mutually agree as follows:

ARTICLE I.

DEFINITIONS; RULES OF CONSTRUCTION

SECTION 1.01. Definitions. The following terms, as used herein, have the following
meanings:

“Affiliate” of any specified Person means any other Person directly or indirectly controlling,
controlled by or under direct or indirect common control with such specified Person. For the
purposes of this definition, “control” when used with respect to any Person means the power to
direct the management and policies of such Person, directly or indirectly, whether through the
ownership of voting securities, by contract or otherwise; and the terms “controlling” and
“controlled” have meanings correlative to the foregoing. No Person shall be deemed an Affiliate of
another Person solely by virtue of the fact that both Persons own shares of the Company’s Capital
Stock.

“Board” means the Board of Directors of the Company.

“Business Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is not a day
on which banking institutions in The City of New York are authorized or obligated by law or
executive order to close.

“Capital Stock” means any and all shares, interests, participations, rights in or other
equivalents (however designated) of the Company’s capital stock, and any rights, warrants or
options exercisable or exchangeable for or convertible into such capital stock.

“CBS” means CBS Radio Inc.

“CBS Registration Rights Agreement” means the Amended and Restated Registration Rights
Agreement, dated as of March 3, 2008, by and between the Company and CBS.

“Commission” means the Securities and Exchange Commission.

“Common Stock” means the Common Stock of the Company, par value $0.01 per share.

 

 

 

“Conditions” means any required material third-party or governmental approvals, compliance
with applicable laws and the absence of any injunction or similar legal order preventing such
transaction.

“Eligible Offering” means an offer by the Company after the date hereof to sell to any Person
or Persons (including any of the Stockholders) for cash, any Capital Stock (or debt convertible
into Capital Stock) of the Company, other than:

(i) in an underwritten public offering registered under the 1933 Act or
pursuant to a Rule 144A offering under the 1933 Act;

(ii) pursuant to any stock option, stock purchase or other benefit plan, or
agreement approved by the Board to independent contractors, employees, officers,
directors, consultants, service providers and/or advisors to the Company or its
subsidiaries; provided, that at the time such plan or agreement was
approved, the total amount of Common Stock issuable under all stock option, stock
purchase or other benefit plans or agreements of the Company (including such plan or
agreement approved by the Board) does not exceed 20% of the Company’s then
outstanding Common Stock (including the Preferred Stock on an as-converted basis);

(iii) as consideration to any third party seller in connection with the bona
fide acquisition by the Company or any subsidiary of the Company of the assets or
securities of any Person in any transaction approved by the Board;

(iv) in connection with a stock split or recapitalization;

(v) as an inducement to a third party investor (in its capacity as a lender) in
connection with any bona fide debt financing, subject to terms and conditions
approved by the Board (but only if there are no Stockholders or Affiliates of the
Company who are providing any portion of such debt financing); and

(vi) pursuant to the transactions contemplated by each of the Securities
Purchase Agreement and the Purchase Agreement.

“Gores Investors” means Gores and its Related Persons that sign a Joinder Agreement in
accordance with the terms hereof.

“Gores Registration Rights Agreement” means the Registration Rights Agreement between the
Company and The Gores Group, LLC, dated as of March 3, 2008.

“Investor Stockholders” means each Original Investor Stockholder and each direct or indirect
transferee of such Original Investor Stockholder (other than any Gores Investor) that signs a
Joinder Agreement in accordance with the terms hereof; provided, that a Person shall cease
to be an Investor Stockholder (other than in connection with the sale by the Gores Investors of all
of their shares of Capital Stock to a third party, in which case such Persons shall continue to be
subject to the provisions of Sections 3.01, 3.02, 3.03, 4.01, 4.02 and Article V) on the first date
on which the applicable Investor Stockholder, together with its Related Persons that have executed
a Joinder Agreement, owns less than 20% of the Common Stock (including any shares of Preferred
Stock on an as-converted basis) owned by
the Investor Stockholder, together with its Related Persons that have executed a Joinder
Agreement , at the time such Person became an Investor Stockholder and counting only those shares
of Common Stock or Preferred Stock issued on the date hereof (or upon conversion of the Preferred
Stock) to the applicable Original Investor Stockholder.

 

2

 

“Joinder Agreement” means a joinder agreement, a form of which is attached hereto as
Exhibit A.

“Minimum Number” on any date means 60% of the Common Stock (including the Preferred Stock on
an as-converted basis) owned by the Original Investor Stockholders on the date hereof immediately
after giving effect to the transactions contemplated by the Securities Purchase Agreement.

“NASDAQ Global Market” has the meaning ascribed thereto in NASDAQ Rule 4200(a)(25).

“1933 Act” means the Securities Act of 1933, as amended, or any similar federal statute, and
the rules and regulations of the Commission thereunder, all as the same shall be in effect at the
time.

“1934 Act” means the Securities Exchange Act of 1934, as amended, or any similar federal
statute, and the rules and regulations of the Commission thereunder, all as the same shall be in
effect at the time.

“Offered Shares” has the meaning set forth in Section 4.01.

A Person is deemed to “Own” or to have acquired “Ownership” of a security if such Person (i)
is the record owner of such security, (ii) is the beneficial owner (within the meaning of Rule
13d-3 under the 1934 Act) of such security or (iii) has the authority or right to vote such
security.

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

“Preemptive Notice” has the meaning set forth in Section 4.03.

“Preferred Stock” means the Series A-1 Preferred Stock and Series B Preferred Stock.

“Pro Rata Portion” means, with respect to any Stockholder on any date, a fraction, the
numerator of which is the number of shares of Common Stock (including shares of Preferred Stock on
an as-converted basis) owned by such Stockholder and (b) the denominator of which is the number of
shares of Common Stock (including shares of Preferred Stock on an as-converted basis) owned by all
Stockholders.

“Prospectus” means the prospectus included in a Registration Statement (including a prospectus
that includes any information previously omitted from a prospectus filed as part of an effective
registration statement in reliance upon Rule 430A promulgated under the 1933 Act), as amended or
supplemented by any prospectus supplement, with respect to the terms of the offering of any portion
of the Registrable Securities covered by a Registration Statement, and all other amendments and
supplements to the Prospectus, including post-effective amendments, and all material incorporated
by reference in such Prospectus.

 

3

 

“Purchase Agreement” means the Purchase Agreement, dated as of April 23, 2009, among the
Company and the purchasers signatory thereto.

“Purchaser” has the meaning set forth in Section 4.01.

“Registrable Securities” means any Common Stock issuable to the Investor Stockholders pursuant
to the Securities Purchase Agreement, together with any securities issued or issuable upon any
stock split, stock dividend or other distribution or in connection with a combination of shares,
recapitalization, merger, consolidation or similar event with respect to the foregoing, in each
case until such securities are no longer held by an Investor Stockholder.

“Registration Statement” means any registration statement to be filed under the 1933 Act, that
covers any of the Registrable Securities pursuant to the provisions of this Agreement, including
the Prospectus included therein, all amendments and supplements to such Registration Statement,
including pre- and post-effective amendments, all exhibits and all material incorporated by
reference in such Registration Statement.

“Related Person” means, with respect to any Person, (a) an Affiliate of such Person, (b) any
investment manager, investment advisor or general partner of such Person, and (c) any investment
fund, investment account or investment entity whose investment manager, investment advisor or
general partner is such Person or a Related Person of such Person; provided, that no Person
shall be deemed an Affiliate of another Person solely by virtue of the fact that both Persons own
shares of the Capital Stock of the Company.

“Requisite Stockholders” means Gores and the holders of a majority of the Common Stock
(including Preferred Stock on an as-converted basis) owned by all Investor Stockholders.

“Rule 144” and “Rule 144A” means Rule 144 and Rule 144A, respectively, promulgated by the
Commission pursuant to the 1933 Act, as such Rules may be amended from time to time, or any similar
rule or regulation hereafter adopted by the Commission having substantially the same effect as such
Rule.

“Sale” means (i) the Transfer in one or a series of related transactions by the Gores
Investors of at least 50% of all shares of Common Stock (including any shares of Preferred Stock
counted on an as-converted basis) outstanding on the date of such Sale to any Person or “group” of
Persons (other than Gores Investors) whether direct or indirect or by way of any merger,
consolidation or other business combination or purchase of beneficial ownership or otherwise;
(ii) the sale of all or substantially all of the assets of the Company and its consolidated
subsidiaries, whether by merger, consolidation, business combination or purchase of beneficial
ownership or otherwise.

“Securities Purchase Agreement” means the Securities Purchase Agreement, dated as of the date
hereof, among the Company, the Original Investor Stockholders and Gores.

“Series A-1 Preferred Stock” means the Series A-1 Convertible Preferred Stock of the Company,
par value $0.01 per share.

“Series B Preferred Stock” means the Series B Convertible Preferred Stock of the Company, par
value $0.01 per share.

 

4

 

“Spousal Consent” means a spousal consent, a form of which is attached hereto as
Exhibit B.

“Stockholder Representations” has the meaning set forth in Section 4.01.

“Stockholders” means Gores, any Gores Investor executing a Joinder Agreement and the Investor
Stockholders.

“Tag-Along Notice” has the meaning set forth in Section 4.01.

“Tag-Along Sale” has the meaning set forth in Section 4.01.

“Tag-Along Stockholder” means a Stockholder that elects to participate in a Tag-Along Sale
pursuant to Section 4.01 hereof.

“Transfer” means the offer, sale, donation, assignment (as collateral or otherwise), mortgage,
pledge, grant, hypothecation, encumbrance, gift, bequest or transfer or disposition of any security
(including transfer by reorganization, merger, sale of substantially all of the assets or by
operation of law).

“Transferee” means any Person who acquires shares of Capital Stock from a Stockholder.

SECTION 1.02. Rules of Construction. (a) Any provision of this Agreement that refers to
the words “include,” “includes,” or “including” shall be deemed to be followed by the words
“without limitation.”

(b) In the event that any claim is made by any Person relating to any conflict, omission or
ambiguity in this Agreement, no presumption or burden of proof or persuasion shall be implied by
virtue of the fact that this Agreement was prepared by or at the request of a particular Person or
its counsel.

(c) References to numbered or letter articles, sections, and subsections refer to articles,
sections and subsections, respectively, of this Agreement unless expressly stated otherwise. All
references to this Agreement include, whether or not expressly referenced, the exhibits and
appendices attached hereto.

ARTICLE II.

REPRESENTATIONS AND WARRANTIES

Each of the parties hereby severally represents and warrants to each of the other parties as
follows:

(a) Authority; Enforceability. Such party (i) has the legal capacity or
organizational power and authority to execute, deliver and perform its obligations under this
Agreement and (ii) (in the case of parties that are not natural persons) is duly organized and
validly existing and in good standing under the laws of its jurisdiction of organization. This
Agreement has been duly executed and delivered
by such party and constitutes a legal, valid and binding obligation of such party, enforceable
against it in accordance with the terms of this Agreement, subject to applicable bankruptcy,
insolvency, reorganization, moratorium and other laws affecting the rights of creditors generally
and to the exercise of judicial discretion in accordance with general principles of equity (whether
applied by a court of law or of equity).

 

5

 

(b) Consent. No consent, waiver, approval, authorization, exemption, registration,
license or declaration is required to be made or obtained by such party, other than those that have
been made or obtained on or prior to the date hereof, in connection with (i) the execution or
delivery of this Agreement or (ii) the consummation of any of the transactions contemplated hereby.
To the extent the Stockholder is a natural person and is married, no Spousal Consent is required
in connection with the transactions contemplated hereby or such Stockholder has delivered a Spousal
Consent executed by his spouse.

ARTICLE III.

SHARE TRANSFERS

SECTION 3.01. Restrictive Legend. Each certificate representing shares of Series A-1
Preferred Stock, Series B Preferred Stock and Common Stock issued upon the conversion of the
Preferred Stock held by a Stockholder will bear a legend in substantially the following form (with
such additions thereto or changes therein as the Company may be advised by counsel are required by
law or necessary to give full effect to this Agreement):

(i) With respect to such Common Stock:

“These securities have not been registered under the Securities Act of 1933, as
amended, or under the securities laws of any state, and, accordingly cannot be offered, sold
or transferred unless and until they are so registered under such Act and applicable state
securities laws or unless exemption is then available under such Act and such laws.”

(ii) With respect to the Series A-1 Preferred Stock and the Series B Preferred Stock:

“Neither these securities nor the shares of Common Stock issuable upon conversion have
been registered under the Securities Act of 1933, as amended, or under the securities laws
of any state, and, accordingly cannot be offered, sold or transferred unless and until they
are so registered under such Act and applicable state securities laws or unless exemption is
then available under such Act and such laws.”

(iii) With respect to such Common Stock, the Series A-1 Preferred Stock and the Series B
Preferred Stock:

“The securities represented by this certificate are also subject to the terms and
conditions of an Investor Rights Agreement dated as of April 23, 2009, as it may be
amended from time to time. The Investor Rights Agreement contains, among other
things, certain tag-along and drag-along rights and restrictions applicable to the
securities. A copy of the Investor Rights Agreement is available upon request from
the Company.”

 

6

 

SECTION 3.02. Transfers / Securities Laws. Each Stockholder agrees not to make any
Transfer of all or any portion of any Series B Preferred Stock or Common Stock issued upon the
conversion thereof unless and until:

(a) such Stockholder shall have notified the Company of the proposed Transfer and shall have
furnished the Company with a reasonable description of the circumstances surrounding the proposed
Transfer; and

(b) either (i) there is in effect a registration statement under the 1933 Act covering such
proposed Transfer and such Transfer is made in accordance with such registration statement, or (ii)
such Stockholder shall furnish the Company with an opinion of counsel (which counsel may be an
employee of such Stockholder), reasonably satisfactory to the Company, that such Transfer shall not
require registration of such shares under the 1933 Act.

For the avoidance of doubt, each Investor Stockholder may transfer Series B Preferred Stock or
Common Stock without simultaneously transferring any Notes (as defined in the Securities Purchase
Agreement).

SECTION
3.03. Improper Transfer; Joinder Agreements. (a) Any attempt to Transfer any
shares of Series B Preferred Stock or Common Stock issued upon the conversion thereof not in
accordance with this Agreement shall be null and void and no right, title or interest in or to such
shares shall be Transferred to the purported transferee, buyer, donee, assignee or encumbrance
holder. The Company will not give, and will not authorize the Company’s transfer agent to give,
any effect to such attempted Transfer in its stock records. (b) Only Transferees who are
purchasing or receiving all of the shares of Common Stock (including shares of Preferred Stock
counted on an as converted basis) held by a Stockholder on the date hereof in a private sale or
transfer will be entitled to execute and deliver a Joinder Agreement.

SECTION 3.04. Public Company Listing. The Company shall use commercially reasonable
efforts to remain subject to the reporting requirements of Section 13 or 15(d) of the 1934 Act
regardless of whether it could satisfy the conditions that would permit it to cease to be subject
to said reporting requirements.

ARTICLE IV.

RIGHTS OF CERTAIN STOCKHOLDERS

SECTION 4.01. Tag-Along Rights. (a) If any Gores Investor proposes to Transfer
shares of Common Stock after such time as the Gores Investors, collectively, have already
Transferred 10% or more of the Common Stock outstanding on the date hereof (including any shares of
Preferred Stock counted on an as-converted basis) to a Person other than a Related Person (the
“Purchaser”), other than pursuant to (1) Section 4.02, (2) an
effective registration statement under the 1933 Act or (3) a sale pursuant to Rule 144 under
the 1933 Act for so long as such Gores Investor is an Affiliate of the Company as set forth in such
rule, Gores shall give written notice (a “Tag-Along Notice”) of such proposed Transfer (a
“Tag-Along Sale”) to the Investor Stockholders at least 7 Business Days prior to the consummation
of such proposed Transfer, setting forth: (i) the total number of shares of Common Stock offered to
be Transferred to the Purchaser (the “Offered Shares”) and the purchase price per share,

 

7

 

(ii) any other material terms and conditions of the proposed Transfer, including whether the
Purchaser will purchase all shares proffered,

(iii) the expected date of the proposed Transfer, and

(iv) an undertaking that each such Investor Stockholder shall have the right to elect to sell
up to its Pro Rata Portion of such Offered Shares in accordance with the procedures set forth in
Section 4.01(b).

(b) Upon delivery of a Tag-Along Notice, each Investor Stockholder shall have the right, but
not the obligation, to sell up to its Pro Rata Portion of the Offered Shares at the same price per
share of Capital Stock for the same form of consideration and pursuant to the same terms and
conditions as set forth in the Tag-Along Notice by sending written notice to Gores not less than 7
Business Days after the date of the Tag-Along Notice, indicating its election to sell up to its Pro
Rata Portion of such Offered Shares in the same transaction. Each Tag-Along Stockholder shall be
permitted to sell to the Purchaser on the same terms and conditions as are applicable to the
proposed Transfer by such Gores Investor that number of shares of its Common Stock as to which it
has validly made its election and Gores shall be permitted to concurrently sell the balance of the
shares of Common Stock that are the subject of the Tag-Along Notice that are not sold by the
Tag-Along Stockholders.

(c) No Tag-Along Stockholder shall be required to make representations and warranties in
connection with such sale, other than representations and warranties, on a several basis, with
respect to (i) the Company, to the extent also given by Gores, any such representations and
warranties to be made only to the extent of the knowledge, without any investigation, of the
individual employees of such Tag-Along Stockholder responsible for management of such Tag-Along
Stockholder’s investment in the Preferred Stock or Common Stock, as the case may be,
provided that the Person or Persons in whose favor the representations and warranties run
acknowledges in writing that such Stockholder’s liability for a breach of any such representations
and warranties (whether made by such Tag-Along Stockholder or by Gores) is limited with respect to
the Tag-Along Stockholder as provided in the second and third sentences of this Section 4.01(c) or
the fourth and fifth sentences of Section 4.02(d), as applicable, (ii) such Tag-Along Stockholder’s
due organization, power and authority, (iii) such Tag-Along Stockholder’s ownership of the shares
and ability to freely convey such shares without liens or encumbrances (other than those that arise
under federal or state securities laws or by virtue of this Agreement), (iv) non-contravention of
such Tag-Along Stockholder’s charter, bylaws or other organizational documents or material
agreements of such Tag-Along Stockholder and (v) the enforceable nature of such Tag-Along
Stockholder’s obligations under the documents for such sale to which it is a party (subject in each
case to customary qualifications) (collectively, the “Stockholder Representations”). No
Tag-Along Stockholder shall be required to participate in any escrow or indemnity obligations
relating to such Tag-Along Sale in excess of such Tag-Along Stockholder’s pro rata participation in
the Tag-Along Sale (based on proceeds
to be received). Any indemnity obligation of a Tag-Along Stockholder in connection with a
Tag-Along Sale in which it will participate will be several and not joint and will be limited to
its pro rata share of the actual amount of such indemnification obligation and in no event shall
its payment (or deemed payment) in respect thereof, together with all other indemnification
payments (or deemed payments) in respect of such Tag-Along Sale, be greater than (A) the amount of
consideration actually received by it at or before the time such indemnification payment is made
and (B) the forfeit by such Tag-Along Stockholder of any consideration to which it is entitled but
has not yet received (including, without limitation, as a result of an escrow agreement, earn-out
or similar arrangement) in the Tag-Along Sale. Notwithstanding anything to the contrary herein, a
Stockholder participating in a Tag-Along Sale or a Sale will have an indemnity obligation (subject
to the limitations provided in the second and third sentences of this Section 4.01(c) or the fourth
and fifth sentences of Section 4.02(d), as applicable) for breaches of representations and
warranties made by Gores in respect of the Company even if such Stockholder did not itself make the
representations or warranties or made a more limited representation or warranty.

 

8

 

(d) If no Investor Stockholder elects to sell shares of Common Stock pursuant to this Section
4.01, such Gores Investor shall have the right for a period of 120 days (which period may be
extended to 180 days to the extent necessary to satisfy any Conditions) after the expiration of the
7 Business Day period referred to in Section 4.01(b) to Transfer the Offered Shares subject to the
Tag-Along Notice to the Purchaser at a price not greater than the price contained in, and otherwise
on terms and conditions no more favorable to such Gores Investor than those set forth in, the
Tag-Along Notice. After the end of the 120-day period referred to in this Section 4.01(d)
(including any permitted extension thereof), such Gores Investor will not effect any transaction in
any shares of Common Stock that are the subject of the Tag-Along Notice without commencing
de novo the procedures set forth in this Section 4.01.

SECTION 4.02. Drag-Along Rights. (a) If a Gores Investor desires to effect a Sale, it
shall have the right to require the Investor Stockholders to:

(i) sell all Common Stock and Preferred Stock held by them at the same price per share, for
the same form of consideration (which shall be cash) and pursuant to the same terms and conditions
as are applicable to the Gores Investor;

(ii) vote such Common Stock and Preferred Stock in favor of the transactions constituting a
Sale;

(iii) tender their shares of Common Stock and Preferred Stock;

(iv) waive their appraisal or dissenters’ rights with respect to such transaction; and

(v) otherwise participate in such Sale on the same terms and conditions as are applicable to
Gores.

Each Investor Stockholder agrees to take any and all action in furtherance of the foregoing
reasonably requested by the Gores Investor.

(b) Each Investor Stockholder agrees to vote for the approval of the transaction constituting
a Sale under this Section 4.02 and such agreement is given as a condition of this Agreement and as
such is coupled with an interest and is irrevocable. This voting agreement shall remain in full
force and effect throughout the time that this Section 4.02 is in effect.

(c) The Gores Investors will give each Investor Stockholder at least 7 Business Days advance
notice of a Sale.

 

9

 

(d) Not later than 7 Business Days following the date a Gores Investor delivers a written
notice to each of the Investor Stockholders that it has entered into or will enter into a
definitive agreement with a purchaser in connection with a Sale within 10 Business Days of the date
of such notice, each Investor Stockholder shall deliver one or more certificates representing the
shares held by such Investor Stockholder to be transferred, accompanied by duly executed stock
powers to an escrow agent pursuant to escrow arrangements reasonably acceptable to the Gores
Investor and the Investor Stockholders providing for release concurrently with the consummation of
such Sale and requiring the return thereof to each Investor Stockholder on the date 60 days after
the date of such notice if such Sale has not been consummated by such 60th day. If any Investor
Stockholder fails to deliver such certificates to the Gores Investor, then the Gores Investor shall
provide written notice of such failure to the Company in accordance with Section 5.01. Upon
receipt of such notice, the Company agrees that it shall not record the transfer of such shares on
the books and records of the Company and shall promptly direct the Company’s transfer agent, if
any, that the transfer agent shall also not record the transfer of such shares on the books and
records of the Company. In connection with such Sale, no such Investor Stockholder shall be
required to (i) make any representations other than Stockholder Representations or (ii) participate
in any escrow or indemnity obligation relating to such Sale in excess of such Investor
Stockholder’s pro rata participation in the Sale (based on proceeds to be received). Any indemnity
obligation of an Investor Stockholder in connection with a Sale in which it will participate will
be several and not joint and will be limited to its pro rata share of the actual amount of such
indemnification obligation and in no event shall its payment (or deemed payment) in respect
thereof, together with all other indemnification payments (or deemed payments) in respect of such
Sale, be greater than (A) the amount of consideration actually received by it at or before the time
such indemnification payment is made and (B) the forfeit by such Investor Stockholder of any
consideration to which it is entitled but has not yet received (including, without limitation, as a
result of an escrow agreement, earn-out or similar arrangement). (Upon such return, each
Stockholder Investor shall be able to Transfer freely the Common Stock and Preferred Stock held by
it, subject to Section 3.02 and subject to a new notice delivered pursuant to this Section
4.02(d).)

(e) The Company shall take all actions necessary or reasonably requested to consummate any
Sale and shall use its reasonable best efforts to facilitate the Sale, including:

(1) securing the services of an investment bank, selected by the Gores Investor and
reasonably acceptable to the Company to assist in procuring a purchaser;

(2) preparing or assisting in the preparation of due diligence materials;

(3) making such due diligence materials available to prospective purchasers;

(4) making its directors, officers and employees available to prospective purchasers
for presentations and due diligence interviews; and

(5) entering into customary agreements with respect to the Sale.

SECTION 4.03. Preemptive Notice. (a) If securities are issued pursuant to an Eligible
Offering, the Company shall give written notice (a “Preemptive Notice”) thereof to each
Stockholder. The Preemptive Notice shall:

(1) specify the security or securities issued, the purchasers, the date of issuance
(which date shall not be more than fifteen (15) days prior to the date of delivery of the
Preemptive Notice), the consideration that the Company received therefor and all other
material terms and conditions of such issuance, and

 

10

 

(2) contain an offer to sell to each Stockholder at the same price and for the same
consideration paid or to be paid by the purchaser, an amount sufficient for such Stockholder
to maintain its Pro Rata Portion of Common Stock prior to the issuance in the Eligible
Offering.

(b) For a period of ten (10) Business Days following the delivery of such Preemptive Notice,
each such Stockholder shall be entitled, by written notice to the Company, to elect to purchase all
or part of the securities described therein. To the extent that elections pursuant to this Section
4.03 shall not be made with respect to any offered securities within such ten-Business Day period,
then the Company shall not be obligated to issue to such Stockholder such securities for which such
Stockholder has elected not to purchase. In the event that any such offer is accepted by any
Stockholder, the Company shall sell to such Stockholder, and such Stockholder shall purchase from
the Company for the consideration and on the terms set forth in the Preemptive Notice the
securities that such Stockholder has elected to purchase within ten (10) Business Days of such
Stockholder’s election to purchase such securities (subject to delay for satisfaction of any
Conditions); provided that in no event shall such securities be purchased by an electing
Stockholder prior to the issuance of the securities in the Eligible Offering triggering such
Preemptive Notice.

(c) The Company shall in respect of any issuance of securities required to be issued pursuant
to this Section 4.03 effect such increases in the authorized securities of the Company as may be
necessary to permit such issuance. The Company shall comply with any applicable securities laws
before issuing any securities pursuant to this Section 4.03 and shall not be in violation of the
provisions hereof by reason of such compliance; provided, that it uses commercially reasonable
efforts to so comply.

SECTION 4.04. Board of Directors. So long as the Original Investor Stockholders in
the aggregate own the Minimum Number, the Board shall nominate for election as director, one
nominee designated in writing to Gores and the Company by the holders of a majority of the Common
Stock (including Preferred Stock on an as-converted basis) held by such Original Investor
Stockholders. If such director is not reasonably acceptable to Gores, Gores shall notify the
Original Investor Stockholders and they shall nominate replacement nominees until a replacement
nominee is reasonably acceptable to Gores (the “Investor Nominee”). Gores agrees to vote
or otherwise give Gores’ consent in respect of all shares of Common Stock owned by Gores for the
election to the Board of the Investor Nominee. At such time as the Original Investor Stockholders
in the aggregate own less than the Minimum Number, they shall request the Investor Nominee to
resign and, if the Investor Nominee shall not resign, shall vote the Capital Stock held by them in
favor of removal of the Investor Nominee.

SECTION 4.05. Charter Amendment. Each Stockholder hereby irrevocably agrees that at
every meeting of the stockholders of the Company called, and at every postponement or adjournment
thereof, and on every action or approval by written consent of the stockholders of the Company, it
will vote all shares of Capital Stock owned by it in favor of the approval of the Charter Amendment
(as defined in the Purchase Agreement), and any action in furtherance of the foregoing. From and
after the date of this Agreement for a period of 9 months or, if earlier, the date of approval of
the Charter Amendment by the stockholders of the Company, no Stockholder shall Transfer any shares
of Capital Stock directly or indirectly without obtaining an agreement in writing from the
Transferee whereby the Transferee agrees with the Company and the other Stockholders party hereto
to be bound by the terms and provisions of this Section 4.05.

 

11

 

SECTION 4.06. Piggyback Registration Rights. If (but without any obligation to do so)
the Company proposes to register any of its stock or other securities under the 1933 Act in
connection with the public offering of such securities solely for cash (other than a registration
on Form S-8 (or similar or successor form) relating solely to the sale of securities to
participants in a Company stock plan or to other compensatory arrangements to the extent includable
on Form S-8 (or similar or successor form), or a registration on Form S-4 (or similar or successor
form)), the Company shall, at such time, promptly give each Investor Stockholder written notice of
such registration. Upon the written request of each Investor Stockholder given within 15 days
after mailing of such notice by the Company, the Company shall use its reasonable best efforts to
cause to be registered under the 1933 Act all of the Registrable Securities that each such
Stockholder has requested to be registered. The Company shall have no obligation under this
Section 4.06 to make any offering of its securities, or to complete an offering of its securities
that it proposes to make. If the registration of which the Company gives notice is for a
registered public offering involving an underwriting, the Company shall so advise the Investor
Stockholders as a part of the written notice given pursuant to this Section 4.06. All Investor
Stockholders requesting to distribute their securities through such underwriting shall, together
with the Company, enter into an underwriting agreement in customary form with the underwriter or
underwriters for such underwriting; provided, however, that the Investor
Stockholders shall not be required by the Company to make any representations, warranties or
indemnities except as they relate to such Investor Stockholder’s ownership of shares and authority
to enter into the underwriting agreement and to such Investor Stockholder’s intended method of
distribution, and the liability of such Investor Stockholder shall be limited to an amount equal to
the net proceeds from the offering received by such Investor Stockholder.

(a) If the registration under this Section 4.06 is an underwritten registration on behalf of
holders of securities of the Company, and if the underwriter advises the Company that marketing
factors require a limitation of the number of shares to be underwritten, the underwriter may limit
the number of Registrable Securities to be included in the registration and underwriting. The
Company shall so advise all Investor Stockholders that would otherwise be underwritten pursuant
hereto. The number of shares, including Registrable Securities, that may be included in the
registration and underwriting shall be allocated as follows: (i) first, among holders of
securities requesting such registration and CBS, if CBS is not the holder requesting such
registration, to the extent, but only to the extent, CBS elects to participate in such underwritten
offering pursuant to the CBS Registration Rights Agreement, in each case in proportion (as nearly
as practicable) to the amount of registrable securities held by such holders, (ii) second, among
(A) all of the Investor Stockholders that have elected to participate in such underwritten offering
and (B) the Gores Investors, if the Gores Investors are not the holders requesting such
registration, to the extent, but only to the extent, the Gores Investors elect to participate
in such underwritten offering pursuant to the Gores Registration Rights Agreement, in each case in
proportion (as nearly as practicable) to the amount of Registrable Securities held by such
participating Investor Stockholders and the amount of shares of Common Stock (including the
Preferred Stock on an as converted basis) held by the Gores Investors (iii) thereafter, among all
other holders of Common Stock, if any, that have the right and have elected to participate in such
underwritten offering, in proportion (as nearly as practicable) to the amount of shares of Common
Stock owned by such holders.

 

12

 

(b) If the registration under this Section 4.06 is an underwritten registration on behalf of
the Company and if the underwriter advises the Company that marketing factors require a limitation
of the number of shares to be underwritten, the underwriter may limit the number of Registrable
Securities to be included in the registration and underwriting. The Company shall so advise all
Investor Stockholders that would otherwise be underwritten pursuant hereto. The number of shares,
including Registrable Securities, that may be included in the registration and underwriting shall
be allocated as follows: (i) first, the securities that the Company proposes to sell, (ii) second,
among (A) all of the Investor Stockholders that have elected to participate in such underwritten
offering, (B) the Gores Investors, if the Gores Investors are not the holders requesting such
registration, to the extent, but only to the extent, the Gores Investors elect to participate in
such underwritten offering pursuant to the Gores Registration Rights Agreement and (C) CBS, if CBS
is not the holder requesting such registration, to the extent, but only to the extent, CBS elects
to participate in such underwritten offering pursuant to the CBS Registration Rights Agreement, in
each case in proportion (as nearly as practicable) to the amount of Registrable Securities held by
such participating Investor Stockholders and the amount of shares of Common Stock (including the
Preferred Stock on an as converted basis) held by the Gores Investors and CBS and (iii) thereafter,
among all other holders of Common Stock, if any, that have the right and have elected to
participate in such underwritten offering, in proportion (as nearly as practicable) to the amount
of shares of Common Stock owned by such holders.

(c) Each Investor Stockholder agrees that if a managing underwriter reasonably determines it
is necessary in order to effect such underwritten public offering, at such managing underwriter’s
request, such Investor Stockholder will agree not to publicly sell any shares of Registrable
Securities that are not included in an underwritten public offering described in this Section 4.06
for a period, not to exceed the lesser of (a) 120 days and (b) the number of days that the Company,
any director or officer or any other selling stockholder is similarly restricted; provided
that if any such Person is released from its obligations to not publicly sell, then all Investor
Stockholders shall be released from their obligations under this Section 4.06(c) to the same
extent.

(d) Each Investor Stockholder covenants and agrees that it will comply with the prospectus
delivery requirements of the 1933 Act as applicable to it in connection with sales of Registrable
Securities pursuant to a Registration Statement.

(e) Each Investor Stockholder agrees by its acquisition of such Registrable Securities that,
upon receipt of a notice from the Company, such Investor Stockholder will forthwith discontinue
disposition of such Registrable Securities under a Registration Statement until such Investor
Stockholder’s receipt of the copies of the supplemented Prospectus and/or amended Registration
Statement or until it is advised in writing by the Company that the use of the applicable
Prospectus may be resumed, and, in either case, has received copies of any additional or
supplemental filings that are incorporated or deemed to be incorporated by reference in such
Prospectus or Registration Statement. The Company may provide appropriate stop orders to enforce
the provisions of this paragraph.

SECTION 4.07. ADTV. The Gores Investors agree to provide the Board with all relevant
information with respect to transactions by the Gores Investors that are required to be deducted
from the calculation of “ADTV” as such term is defined in the Certificate of Designations for the
Series B Preferred Stock.

 

13

 

ARTICLE V.

MISCELLANEOUS

SECTION 5.01. Notices. Except as otherwise specified herein, all notices and other
communications required or permitted hereunder shall be in writing and shall be mailed by
registered or certified mail, return receipt requested, postage prepaid or otherwise delivered by
hand, messenger, facsimile transmission or by other means of electronic communication and shall be
given to such party at its address, facsimile number or e-mail address, as the case may be, as set
forth on the signature pages hereof or in the relevant Joinder Agreement or such other address,
facsimile number or e-mail address as such party may hereafter specify in writing to the Secretary
of the Company for the purpose by notice to the party sending such communication. Any and all
notices or other communications or deliveries required or permitted to be provided hereunder shall
be deemed given and effective on the earliest of (i) the date of transmission, if such notice or
communication is delivered via facsimile or by other means of electronic communication before 5:30
p.m. (New York City time) on a Business Day and the sender on the same Business Day sends a
confirming copy of such notice by U.S. mail or a recognized overnight delivery service, (ii) the
Business Day after the date of transmission, if such notice or communication is delivered via
facsimile or by other means of electronic communication later than 5:30 p.m. (New York City time)
on any date and earlier than 11:59 p.m. (New York City time) on such date and if on such next
Business Day, the sender sends a confirming copy of such notice by U.S. mail or a recognized
overnight delivery service, (iii) the Business Day following the date of sending, if sent by
nationally recognized overnight courier service, specifying next business day delivery or (iv) upon
actual receipt by the party to whom such notice is required to be given if mailed by registered or
certified mail, return receipt requested, postage prepaid or otherwise delivered by hand.

SECTION 5.02. Binding Effect; Benefits. This Agreement shall be binding upon and
inure to the benefit of the parties to this Agreement and their respective successors and permitted
assigns. Nothing in this Agreement, express or implied, is intended or shall be construed to give
any person other than the parties to this Agreement or their respective successors or assigns any
legal or equitable right, remedy or claim under or in respect of any agreement or any provision
contained herein.

SECTION 5.03. Amendment. Other than as a result of the execution and delivery of a
Joinder Agreement, this Agreement may not be amended, restated or modified in any respect except by
a written instrument executed by Requisite Stockholders and the Company. The failure at any time to
enforce any of the provisions of this Agreement shall in no way be construed as a waiver of such
provisions and shall not
affect the right of any of the parties thereafter to enforce each and every provision hereof
in accordance with its terms.

SECTION 5.04. Assignability. Neither this Agreement nor any right, remedy, obligation
or liability arising hereunder or by reason hereof shall be assignable by either the Company or any
Stockholder except as otherwise expressly stated hereunder or with the prior written consent of
each other party. A transferee who is not a Related Person of a transferring Stockholder, shall
not be entitled to execute a Joinder and such transferee shall not have, nor be subject to, the
rights and obligations contained in this Agreement. Notwithstanding anything in this Agreement to
the contrary, the rights set forth in Section 4.04 may not be assigned.

 

14

 

SECTION 5.05. Governing Law; Venue; Waiver of Jury Trial. All questions concerning
the construction, validity, enforcement and interpretation of this Agreement shall be governed by
and construed and enforced in accordance with the internal laws of the State of New York. Each
party agrees that all legal proceedings concerning the interpretations, enforcement and defense of
the Agreement (whether brought against a party hereto or its respective Affiliates, directors,
officers, stockholders, employees or agents) shall be commenced exclusively in the state and U.S.
federal courts sitting in The City of New York, Borough of Manhattan. Each party hereto hereby
irrevocably submits to the exclusive jurisdiction of the state and U.S. federal courts sitting in
The City of New York, Borough of Manhattan for the adjudication of any dispute hereunder or in
connection herewith or discussed herein (including with respect to the enforcement of any of this
Agreement), and hereby irrevocably waives, and agrees not to assert in any suit, action or
proceeding, any claim that it is not personally subject to the jurisdiction of any such court, that
such suit, action or proceeding is improper. Each party hereto hereby irrevocably waives personal
service of process and consents to process being served in any such suit, action or proceeding by
mailing a copy thereof via registered or certified mail or overnight delivery (with evidence of
delivery) to such party at the address in effect for notices to it under this Agreement and agrees
that such service shall constitute good and sufficient service of process and notice thereof.
Nothing contained herein shall be deemed to limit in any way any right to serve process in any
manner permitted by law. Each party hereto hereby irrevocably waives, to the fullest extent
permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out
of or relating to this Agreement or the transactions contemplated hereby. If either party shall
commence a proceeding to enforce any provisions of this Agreement, then the prevailing party in
such action or proceeding shall be reimbursed by the other party for its reasonable attorneys fees
and other reasonable costs and expenses incurred with the investigation, preparation and
prosecution of such proceeding.

SECTION 5.06. Enforcement. The parties expressly agree that the provisions of this
Agreement may be specifically enforced against each of the parties hereto in any court of competent
jurisdiction.

SECTION 5.07. Severability. If any provision of this Agreement is held to be invalid
or unenforceable in any respect, the validity and enforceability of the remaining terms and
provisions of this Agreement shall not in any
way be affected or impaired thereby and the parties will attempt in good faith to agree upon a
valid and enforceable provision that is a reasonable substitute therefor and effects the original
intent of the parties as closely as possible, and upon so agreeing, shall incorporate such
substitute provision in this Agreement.

SECTION 5.08. Section and Other Headings. The section and other headings contained in
this Agreement are for reference purposes only and shall not affect the meaning or interpretation
of this Agreement.

SECTION 5.09. Counterparts. This Agreement may be executed in two or more
counterparts, all of which when taken together shall be considered one and the same agreement and
shall become effective when counterparts have been signed by each party and delivered to the other
party, it being understood that both parties need not sign the same counterpart. If any signature
is delivered by facsimile transmission, such signature shall create a valid and binding obligation
of the party executing (or on whose behalf such signature is executed) the same with the same force
and effect as if such facsimile signature page were an original thereof.

 

15

 

SECTION 5.10. Entire Agreement. This Agreement, together with the Exhibits hereto,
contain the entire understanding of the parties with respect to the subject matter hereof and
supersede all prior agreements and understandings, both oral or written.

SECTION 5.11. Termination of Certain Provisions. All rights and obligations under
this Agreement will terminate and be of no force and effect upon the earlier of (a) the date that
is ten (10) years from the date hereof and (b) and the first date on which Gores and the Gores
Investors own less than 15% of the Company’s Common Stock (including Preferred Stock on an
as-converted basis).

SECTION 5.12. Information. The Company shall permit the representatives of each
Original Investor Stockholder for so long as such Original Investor Stockholder owns at least 1% of
the Common Stock outstanding on the date thereof (including any shares of Preferred Stock counted
on an as-converted basis), at the Original Investor Stockholder’s expense and upon reasonable prior
notice to the Company, to visit the principal executive offices of the Company, to discuss the
affairs, finances and accounts of the Company and its Subsidiaries with the Company’s officers and,
with the consent of the Company (which consent will not be unreasonably withheld), to visit the
other offices and property of the Company and each Subsidiary, all at such reasonable times and as
often as may be reasonably requested in writing. In addition, the Company will deliver to each
Original Investor Stockholder such data and information relating to the business, operations,
affairs, financial condition, assets or property of the Company or any of its Subsidiaries as from
time to time may be reasonably requested by any such Original Investor Stockholder (including
without limitation consolidated quarterly and annual financial statements of the Company and its
Subsidiaries). Each Original Investor Stockholder hereby agrees to comply with the provisions of
Section 19 “Confidential Information” of the Securities Purchase Agreement as if it was a New
Noteholder subject to such agreement and such section is hereby incorporated herein mutatis
mutandis.

[Signature Pages Follow]

 

16

 

IN WITNESS WHEREOF, the Company and each Stockholder have executed this Agreement as of the
day and year first above written.

	 	 	 	 	 
	 	 	WESTWOOD ONE, INC.
	 
	 	 	 	 
	 

	 	By:	 	/s/ David Hillman
	 

	 	 	 	 
	 

	 	 	 	Name: David Hillman
	 

	 	 	 	Title: Chief Administrative Officer, Secretary
and 
General Counsel
	 
	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 
	 	 	Westwood One, Inc.
	 	 	40 West 57th Street
	 	 	5th Floor
	 	 	New York, New York 10019
	 	 	Attn: General Counsel
	 	 	Phone: (212) 641-2000
	 	 	Fax: (212) 641-2191
	 	 	Email: dhillman@westwoodone.com
	 
	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 
	 	 	Skadden, Arps, Slate, Meagher & Flom LLP
	 	 	300 South Grand Avenue
	 	 	Suite 3400
	 	 	Los Angeles, California 90071
	 	 	Attn: Brian J. McCarthy
	 	 	Phone: (213) 687-5000
	 	 	Fax: (213) 687-5600
	 	 	Email: brian.mccarthy@skadden.com

Investor Rights Agreement — Signature Page

 

S-1

 

	 	 	 	 	 
	 	 	GORES RADIO HOLDINGS, LLC
	 
	 	 	 	 
	 

	 	By:
	 	The Gores Group, LLC,

its Manager
	 
	 	 	 	 
	 

	 	By:	 	/s/ Steven G. Eisner
	 

	 	 	 	 
	 

	 	 	 	Name: Steven G. Eisner
	 

	 	 	 	Title: Vice President
	 
	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 
	 	 	Gores Radio Holdings, LLC

10877 Wilshire Boulevard

18th Floor

Los Angeles, California 90024

Attn: General Counsel

Phone: (310) 209-3010

Fax: (310) 209-3310

Email: ehattler@gores.com
	 
	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 
	 	 	Gores Radio Holdings, LLC

10877 Wilshire Boulevard

18th Floor

Los Angeles, California 90024

Attn: Ian Weingarten

Phone: (310) 209-3010
	 	 	Fax: (310) 209-310

Email: iweingarten@gores.com
	 
	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 
	 	 	Proskauer Rose LLP

2049 Century Park East

32nd Floor

Los Angeles, California 90067

Attn: Michael A. Woronoff, Esq.

Phone: (310) 557-2900
	 	 	Fax: (310) 557-2193

Email: mworonoff@proskauer.com

Investor Rights Agreement — Signature Page

 

S-2

 

	 	 	 	 	 	 	 	 	 
	 	 	ING LIFE INSURANCE AND ANNUITY COMPANY
	 	 	RELIASTAR LIFE INSURANCE COMPANY
	 	 	SECURITY LIFE OF DENVER INSURANCE COMPANY
	 	 	(successor by merger
to Southland Life Insurance Company)
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	ING Investment Management LLC,
	 	 	 	 	as Agent
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Christopher P. Lyons
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Christopher P. Lyons
	 

	 	 	 	 	 	Title:
	 	Senior Vice President
	 
	 	 	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 	 	 
	 	 	c/o ING Investment Management LLC
	 	 	5780 Powers Ferry Road NW, Suite 300
	 	 	Atlanta, Georgia 30327-4347
	 	 	Attn: Private Placements
	 	 	Fax: (770) 690-5057
	 
	 	 	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	NEW YORK LIFE INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Gail A. McDermott	 	 
	 	 	 	 	 	 	 
	 	 	 	 	Name:	 	Gail A. McDermott	 	 
	 	 	 	 	Title:	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	NEW YORK LIFE
INSURANCE AND ANNUITY CORPORATION	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	New York Life Investment Management LLC,	 	 
	 	 	 	 	its Investment Manager	 	 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Gail A. McDermott	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Gail A. McDermott	 	 
	 

	 	 	 	 	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	NEW YORK LIFE INSURANCE AND ANNUITY	 	 
	 	 	CORPORATION INSTITUTIONALLY OWNED	 	 
	 	 	LIFE INSURANCE SEPARATE ACCOUNT (BOLI 3)	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	New York Life Investment Management LLC,	 	 
	 	 	 	 	its Investment Manager	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Gail A. McDermott	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Gail A. McDermott	 	 
	 

	 	 	 	 	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	Notices:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	c/o New York Life Investment Management LLC	 	 
	 	 	51 Madison Avenue	 	 
	 	 	New York, New York 10010	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP	 	 
	 	 	One State Street	 	 
	 	 	Hartford, CT 06103	 	 
	 	 	Attn: Chip Fisher	 	 

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	ALLSTATE LIFE INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Breege Farrell	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Breege Farrell	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Allen Dick	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Allen Dick	 	 
	 

	 	 	 	 	 	Authorized Signatories	 	 
	 	 	Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Allstate Investments LLC	 	 
	 	 	Private Placements Department	 	 
	 	 	3075 Sanders Road, STE G3A	 	 
	 	 	Northbrook, Illinois 60062-7127	 	 
	 	 	Fax: (847) 402-3092	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP	 	 
	 	 	One State Street	 	 
	 	 	Hartford, CT 06103	 	 
	 	 	Attn: Chip Fisher	 	 

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	MONUMENTAL LIFE INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	/s/ Bill Henricksen	 	 
	 	 	 	 	 	 	 
	 

	 	 	 	Name:
	 	Bill Henricksen	 	 
	 

	 	 	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Notices:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	c/o AEGON USA Investment Management, LLC	 	 
	 	 	Attn: Director of Private Placements	 	 
	 	 	4333 Edgewood Road N.E.	 	 
	 	 	Cedar Rapids, IA 52499-5335	 	 
	 	 	Fax: 319-355-2666	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:	 	 
	 
	 	 	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP	 	 
	 	 	One State Street	 	 
	 	 	Hartford, CT 06103	 	 
	 	 	Attn: Chip Fisher	 	 

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	MASSACHUSETTS MUTUAL
LIFE INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC	 	 
	 	 	 	 	as Investment Adviser	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Elisabeth A. Perenick	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Elisabeth A. Perenick	 	 
	 

	 	 	 	 	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	C.M. LIFE INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC	 	 
	 	 	 	 	as Investment Adviser	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Elisabeth A. Perenick	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Elisabeth A. Perenick	 	 
	 

	 	 	 	 	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	MASSMUTUAL ASIA LIMITED	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Babson Capital Management LLC	 	 
	 	 	 	 	as Investment Adviser	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Elisabeth A. Perenick	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Elisabeth A. Perenick	 	 
	 

	 	 	 	 	 	Title:
	 	Managing Director	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	Notices:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	c/o Babson Capital Management LLC	 	 
	 	 	1500 Main Street — Suite 2200	 	 
	 	 	P.O. Box 15189	 	 
	 	 	Springfield, MA 01115-5189	 	 
	 	 	Attn: Securities Investment Divison	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP	 	 
	 	 	One State Street	 	 
	 	 	Hartford, CT 06103	 	 
	 	 	Attn: Chip Fisher	 	 

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	NATIONWIDE LIFE INSURANCE COMPANY
	 	 	NATIONWIDE MUTUAL INSURANCE COMPANY
	 	 	NATIONWIDE LIFE AND ANNUITY INSURANCE COMPANY
	 	 	NATIONWIDE LIFE
INSURANCE COMPANY OF AMERICA
	 	 	SCOTTSDALE INSURANCE COMPANY
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Thomas A. Gleason
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Thomas A. Gleason
	 

	 	 	 	Title:
	 	Authorized Signatory
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	One Nationwide Plaza (1-33-07)
	 	 	Columbus, Ohio 43215-2220 Attention: Corporate
	 	 	Fixed-Income Securities
	 	 	Facsimile:(614) 249-4553
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 	 	 	 	 
	 	 	HARTFORD FIRE INSURANCE COMPANY	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	By:	 	Hartford Investment Management Company,	 	 
	 	 	 	 	Its Agent and Attorney-in-Fact	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Ralph D. Witt	 	 
	 	 	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Ralph D. Witt	 	 
	 

	 	 	 	 	 	Title:
	 	Vice President	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	Notices:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	c/o Hartford Investment Management Company	 	 
	 	 	c/o Portfolio Support	 	 
	 	 	P. O. Box 1744	 	 
	 	 	Hartford, Connecticut 06144-1744	 	 
	 	 	Fax: (860) 297-8875/8876	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:	 	 
	 
	 	 	 	 	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP	 	 
	 	 	One State Street	 	 
	 	 	Hartford, CT 06103	 	 
	 	 	Attn: Chip Fisher	 	 

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	PRUDENTIAL
RETIREMENT INSURANCE AND
 ANNUITY COMPANY
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Prudential Investment Management, Inc.,
	 	 	 	 	as investment manager
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Paul H. Procyk
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Paul H. Procyk
	 

	 	 	 	 	 	Title:
	 	Vice President
	 
	 	 	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 	 	 
	 	 	c/o Prudential Capital Group
	 	 	Three Gateway Center, 18th Floor
	 	 	100 Mulberry Street
	 	 	Newark, NJ 07102
	 	 	Attention: Managing Director
	 	 	Fax: 212-626-2079
	 
	 	 	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 	 	 
	 	 	AMERITAS LIFE INSURANCE CORP.
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Summit Investment Partners, as Agent
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Andrew S. White
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Andrew S. White
	 

	 	 	 	 	 	Title:
	 	Managing Director — Private Placements
	 
	 	 	 	 	 	 	 	 
	 	 	ACACIA LIFE INSURANCE COMPANY
	 
	 	 	 	 	 	 	 	 
	 	 	By:	 	Summit Investment Partners, as Agent
	 
	 	 	 	 	 	 	 	 
	 	 	 	 	By:	 	/s/ Andrew S. White
	 	 	 	 	 	 	 
	 

	 	 	 	 	 	Name:
	 	Andrew S. White
	 

	 	 	 	 	 	Title:
	 	Managing Director — Private Placements
	 
	 	 	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 	 	 
	 	 	c/o Summit Investment Partners
	 	 	390 North Cotner Blvd.
	 	 	Lincoln, NE 68505
	 	 	Fax: (402) 467-6970
	 
	 	 	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	JPMORGAN CHASE BANK, N.A.,
	 	 	as Administrative Agent and Lender
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Neil R. Boylan
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Neil R. Boylan
	 

	 	 	 	Title:
	 	Managing Director
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF AMERICA, N.A.
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ F.A. Zagar
	 	 	 	 	 
	 

	 	 	 	Name:
	 	F.A. Zagar
	 

	 	 	 	Title:
	 	SVP
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	Fred Zagar
	 	 	Bank of America
	 	 	335 Madison Avenue, NY1-503-05-06
	 	 	New York, NY 10017
	 	 	Fax: 704-602-3697
	 
	 	 	 	 	 	 
	 	 	and
	 
	 	 	 	 	 	 
	 	 	Pamela Tsao
	 	 	Bank of America
	 	 	335 Madison Avenue, NY1-503-05-06
	 	 	New York, NY 10017
	 	 	Fax: 704.602.3694
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	SUNTRUST BANK
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Kip Hurd
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Kip Hurd
	 

	 	 	 	Title:
	 	First Vice President
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	Kip Hurd, First Vice President
	 	 	SunTrust Bank
	 	 	919 E. Main St., 22nd Floor
	 	 	Richmond, VA 23219
	 	 	Fax: 804-782-7548
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	E.SUN COMMERCIAL BANK, LTD.,
	 	 	LOS ANGELES BRANCH
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Homer Hou
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Homer Hou
	 

	 	 	 	Title:
	 	AVP & Credit Manager
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	Edward Chen
	 	 	E.Sun Commercial Bank, Ltd., Los Angeles Branch
	 	 	17700, Castleton Street, Suite 500
	 	 	City of Industry, CA 91748
	 	 	Fax: 626-839-5531
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	THE BANK OF NEW YORK MELLON
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Gordon B. Berger
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Gordon B. Berger
	 

	 	 	 	Title:
	 	Managing Director
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	Gordon Berger
	 	 	The Bank of New York Mellon
	 	 	One Wall Street
	 	 	New York, NY 10286
	 	 	Fax 212-635-7290
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	UNION BANK, N.A.
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Daniel J. Isenberg
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Daniel J. Isenberg
	 

	 	 	 	Title:
	 	Vice President
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	UNION BANK — Special Assets
	 	 	445 South Figueroa St. Ste 403
	 	 	Los Angeles, CA 90071
	 	 	Attn: Daniel Isenberg
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	BANK OF
TOKYO-MITSUBISHI UFJ TRUST COMPANY
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ David Noda
	 	 	 	 	 
	 

	 	 	 	Name:
	 	David Noda
	 

	 	 	 	Title:
	 	VP and Manager
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	Bank of Tokyo-Mitsubishi UFJ Trust Company
	 	 	Special Assets Department
	 	 	1251 Avenue of the Americas
	 	 	New York, NY 10020
	 	 	T: 212-782-4838
	 	 	F: 212-782-4971
	 	 	Attn: Monique Morreale
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

	 	 	 	 	 	 	 
	 	 	FIRST COMMERCIAL BANK, NEW YORK AGENCY
	 
	 	 	 	 	 	 
	 	 	By:	 	/s/ Jenn-Hwa Wang
	 	 	 	 	 
	 

	 	 	 	Name:
	 	Jenn-Hwa Wang
	 

	 	 	 	Title:
	 	VP & General Manager
	 
	 	 	 	 	 	 
	 	 	Notices:
	 
	 	 	 	 	 	 
	 	 	First Commercial Bank, New York Agency
	 	 	750 3rd Ave, 34th FL
	 	 	New York, NY 11375
	 	 	Attn: Wayne Lu
	 	 	Fax: 212-599-6133
	 
	 	 	 	 	 	 
	 	 	With a copy (which shall not constitute notice) to:
	 
	 	 	 	 	 	 
	 	 	Bingham McCutchen LLP
	 	 	One State Street
	 	 	Hartford, CT 06103
	 	 	Attn: Chip Fisher

[Signature Page for Investor Rights Agreement]

 

 

 

EXHIBIT A

JOINDER AGREEMENT

WHEREAS, simultaneously with the execution of this Agreement, the undersigned is acquiring
[Common Stock (the “Common Stock”), par value $0.01 per share of Westwood One, Inc. (the
“Company”)] [and] [Series A-1 Convertible Preferred Stock, par value $0.01 per share, of
the Company (the “Series A-1 Preferred Stock”)] [and] [Series B Convertible Preferred
Stock, par value $0.01 per share, of the Company (the “Series B Preferred Stock”)] [and,
together with the Common Stock [and the Series A-1 Preferred Stock], the “Stock”)]; and

WHEREAS, as a condition to the acquisition of the Stock, the undersigned has agreed to join in
a certain Investor Rights Agreement (the “Investor Rights Agreement”) dated as of April 23,
2009 among Westwood One, Inc. and the Stockholders (as such term is defined in the Investor Rights
Agreement) party thereto; and

WHEREAS, the undersigned understands that execution of this Agreement is a condition precedent
to the acquisition of the Stock;

NOW, THEREFORE, as an inducement to both the transferor of the Stock and the other
Stockholders (as such term is defined in the Investor Rights Agreement), to Transfer (as such term
is defined in the Investor Rights Agreement) and to allow the Transfer of the Stock to the
undersigned, the undersigned agrees as follows:

1. The undersigned hereby represents and warrants that it purchased or received all of the
shares of Common Stock (including shares of Preferred Stock counted on an as converted basis) held
by an Original Stockholder as of the date of the Investor Rights Agreement in a private sale or
transfer.

2. The undersigned hereby joins in the Investor Rights Agreement and agrees to be bound by the
terms and provisions of the Investor Rights Agreement as an Investor Stockholder.

3. The undersigned hereby consents that the certificate or certificates to be issued to the
undersigned representing the Stock shall be legended as follows:

(i) With respect to the Common Stock:

“These securities have not been registered under the Securities Act of 1933, as
amended, or under the securities laws of any state, and, accordingly cannot be offered, sold
or transferred unless and until they are so registered under such Act and applicable state
securities laws or unless exemption is then available under such Act and such laws. ”

(ii) With respect to the Series A-1 Preferred Stock and the Series B Preferred Stock:

“Neither these securities nor the shares of Common Stock issuable upon conversion have
been registered under the Securities Act of 1933, as amended, or under the securities laws
of any state, and, accordingly cannot be offered, sold or transferred unless and until they
are so registered under such Act and applicable state securities laws or unless exemption is
then available under such Act and such laws. ”

 

 

 

(iii) With respect to the Common Stock, the Series A-1 Preferred Stock and the Series B
Preferred Stock:

“The securities represented by this certificate are also subject to the terms and
conditions of an Investor Rights Agreement dated as of April 23, 2009, as it may be
amended from time to time. The Investor Rights Agreement contains, among other
things, certain tag-along and drag-along rights and restrictions applicable to the
securities. A copy of the Investor Rights Agreement is available upon request from
the Company.”

IN WITNESS WHEREOF, the undersigned has executed this Agreement this
 _____ 

day of

 _____, 20
 _____.

	 	 	 
	 

	 	 
	 

	 	Name:

Title:
	 
	 	 
	 

	 	Notices:
	 
	 	 
	 

	 	With a copy (which shall not constitute notice) to:

 

 

 

EXHIBIT B

Consent of Spouse

I,
 _____, spouse of
 _____, have read and hereby approve the
Investor Rights Agreement, dated as of April 23, 2009, among Westwood One, Inc., a Delaware
corporation (the “Company”) and Gores Radio Holdings, LLC and the other parties signatory
thereto (the “Investor Rights Agreement”). I agree to be bound by the provisions of the
Investor Rights Agreement insofar as I may have any rights in said Investor Rights Agreement or any
shares of Capital Stock covered thereby under the community property laws or similar laws relating
to marital property in effect in the state of our residence as of the date of the signing of the
Investor Rights Agreement.

Dated: ________________, 20__

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00157-of-00352.parquet"}]]