Document:

exv4w1

Exhibit 4.1

 

DENBURY RESOURCES INC.

REGISTRATION RIGHTS AGREEMENT

dated as of December 18, 2009

 

 

 

DENBURY RESOURCES INC.

REGISTRATION RIGHTS AGREEMENT

          This Registration Rights Agreement (this “Agreement”), is made and entered into December 18,
2009, by and among Denbury Resources Inc., a Delaware corporation (the “Company”) and the
individuals and entities listed on Schedule A attached hereto (collectively, the
“Investors”).

          The Company and Wapiti Energy, LLC have entered into a Purchase and Sale Agreement (the “PSA”)
dated November 30, 2009 in which the Investors will acquire shares of the Common Stock (as defined
below) of the Company. The Company and the Investors deem it to be in their respective best
interests to set forth their rights in connection with public offerings and sales of the Common
Stock and are entering into this Agreement as a condition to and in connection with the PSA.

          NOW, THEREFORE, in consideration of the premises and mutual covenants and obligations
hereinafter set forth, the Company and the Investors hereby agree as follows:

     Section 1. Definitions.

          As used in this Agreement, the following terms shall have the following meanings:

          “Affiliate” has the meaning set forth in Rule 12b-2 under the Exchange Act.

          “Best Efforts” means best efforts in accordance with reasonable commercial practice and
without the incurrence of unreasonable expense.

          “Blackout Period” has the meaning set forth in Section 7 hereof.

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

          “Commission” means the Securities and Exchange Commission or any other Federal agency at the
time administering the Securities Act.

          “Common Stock” means the common stock, $.001 par value per share, of the Company.

          “Company” has the meaning set forth in the introductory paragraph.

          “Company Meeting” means the meeting of the Company’s stockholders called to approve the Merger
(as defined in the Merger Agreement as in effect on the date hereof).

          “Effectiveness Period” shall mean the period beginning on the second business day following
the S-4 Effective Date and ending on the earlier of (i) the sale pursuant to the Shelf Registration
Statement or Rule 144 of all Registrable Shares, and (ii) the later of (x) the date when all
Registrable Shares are eligible to be sold pursuant to Rule 144 without limitation

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 and (y) the first anniversary of the Closing Date (as defined in the PSA); provided, however, that
notwithstanding the foregoing, if one or more Suspension Notices is given, then the last day of the
Effectiveness Period pursuant to this clause (ii)(y) shall not occur until the date that is a
number of days after the first anniversary of the Closing Date equal to the aggregate number of
days of all Blackout Periods pursuant to Section 7.

          “Exchange Act” means the Securities Exchange Act of 1934, as amended, or any successor Federal
statute, and the rules and regulations of the Commission promulgated thereunder, all as the same
shall be in effect from time to time.

          “FINRA” means the Financial Industry Regulatory Authority, Inc.

          “Fully Marketed Underwritten Offering” has the meaning set forth in Section 4 hereof.

          “Holders” or “Holder” means the Investors, and includes any successor to, or assignee or
transferee of, any such Person which agrees in writing to be treated as an Investor hereunder and
to be bound by the terms and comply with all applicable provisions hereof.

          “Holders’ Counsel” has the meaning set forth in Section 4(c) hereof.

          “Immediate Family” has the meaning set forth in Rule 16a-1(e) under the Exchange Act.

          “Investors” is as defined above.

          “Lockup Period” means the period of time from the date of this Agreement until the earlier of
(i) the 2nd business day following the date on which the merger of Encore Acquisition
Company with and into the Company is closed, (ii) the date on which the Merger Agreement is
terminated or expires or (iii) the Outside Lockup Date.

          “Merger Agreement” means the Agreement and Plan of Merger by and between the Company and
Encore Acquisition Company dated October 31, 2009, as amended.

          “Outside Lockup Date” means May 31, 2010; provided, however, that if, as of May 31, 2010 the
Company Meeting has not occurred and the Scheduled Meeting Date is on or prior to June 30, 2010
(such Scheduled Meeting Date, without regard to any postponement or adjournment of such meeting
which occurs on or after May 31, 2010, is hereinafter referred to as the “Applicable Extension
Date”), then the Outside Lockup Date shall be extended to the trading day immediately preceding the
Applicable Extension Date; provided, further, however, that notwithstanding the foregoing, in no
event shall the Outside Lockup Date be later than June 28, 2010.

          “Permitted Transfer” has the meaning set forth in Section 18 hereof. 

          “Person” means any individual, corporation, partnership, firm, limited liability company,
unlimited liability company, joint venture, association, trust, unincorporated
organization, governmental entity (or political subdivision thereof) or other entity.

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          “Primary Shares” means at any time the authorized, but unissued, shares of Common Stock and
shares of Common Stock held by the Company in its treasury.

          “Prospectus” means the prospectus or prospectuses forming a part of, or deemed to form a part
of, or included in, or deemed included in, any registration statement, as amended or supplemented
by a prospectus supplement with respect to the terms of the offering of any portion of the
Registrable Shares covered by such registration statement and by all other amendments and
supplements to the prospectus, including post-effective amendments and all material incorporated by
reference in such prospectus or prospectuses.

          “PSA” is as defined above.

          “Registrable Shares” means (i) any shares of Common Stock issued in connection with the PSA
and (ii) any shares of Common Stock which may be issued or distributed in respect of such shares of
Common Stock by way of conversion, concession, stock dividend or stock split or other distribution,
recapitalization or reclassification or similar transaction. Any Registrable Share will cease to
be a Registrable Share when (a) a registration statement covering such Registrable Share has been
declared effective by the Commission and such Registrable Share has been sold or disposed of
pursuant to such effective registration statement; (b) such Registrable Share has been disposed of
pursuant to any section of Rule 144 or (c) such Registrable Share is held by the Company or one of
its subsidiaries.

          “Registration Date” means the date upon which the Shelf Registration Statement pursuant to
which the Company shall have initially registered the Registrable Shares under the Securities Act
for sale to the public shall have been declared effective.

          “Registration Expenses” has the meaning set forth in Section 4(c).

          “Rule 144” means Rule 144 promulgated under the Securities Act, as such rule may be amended
from time to time, or any successor rule thereto or any complementary rule thereto (such as Rule
144A).

          “Rule 415” means Rule 415 promulgated by the Commission pursuant to the Securities Act, as
such rule may be amended from time to time, or any similar rule or regulation hereafter adopted by
the Commission as a replacement thereto having substantially the same effect as such rule.

          “S-4 Effective Date” means the earlier of (i) the date on which the Company’s registration
statement on Form S-4 filed in connection with the Agreement and Plan of Merger by and between the
Company and Encore Acquisition Company is declared effective by the Commission and (ii) the last
day of the Lockup Period.

          “Scheduled Meeting Date” means the date on which the Company Meeting is scheduled to occur
based on the stockholders meeting date set forth in the Joint Proxy Statement (as defined in the
Merger Agreement as in effect on the date hereof) mailed to the Company’s stockholders prior to May
31, 2010.

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          “Securities Act” means the Securities Act of 1933, as amended, or any successor Federal
statute, and the rules and regulations of the Commission thereunder, all as the same shall be in
effect from time to time.

          “Shelf Registration Statement” has the meaning set forth in Section 2 hereof.

          “Suspension Notice” has the meaning set forth in Section 7 hereof.

          “Underwritten Registration” or “Underwritten Offering” means an offering in which securities
of the Company are sold to one or more underwriters (as defined in Section 2(a)(11) of the
Securities Act) for resale to the public.

     Section 2. Registration on Form S-3.

          (a) The Company shall, within 2 business days following the S-4 Effective Date, file a
registration statement on Form S-3 or such other form under the Securities Act then available to
the Company, providing for the resale pursuant to Rule 415 from time to time by the Holders of the
Registrable Shares (including the Prospectus, amendments and supplements to the shelf registration
statement or Prospectus, including pre- and post- effective amendments, all exhibits thereto and
all material incorporated by reference or deemed to be incorporated by reference, if any, in such
shelf registration statement, the “Shelf Registration Statement”). The Company shall use its Best
Efforts to cause the Shelf Registration Statement to be declared effective by the Commission upon
filing. The Company shall maintain the effectiveness of the Shelf Registration Statement until the
end of the Effectiveness Period. The Shelf Registration Statement when declared effective
(including the documents incorporated therein by reference) will comply as to form with all
applicable requirements of the Securities Act and the Exchange Act and will not contain an untrue
statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading.

          (b) If the Shelf Registration Statement required by Section 2(a) above is (i) not
filed within 2 business days following the S-4 Effective Date, or (ii) not declared effective by
the Commission upon filing, in addition to any other remedies available to the Holders, the Holders
shall be entitled to specific performance pursuant to Section 23(b).

     Section 3. Piggyback Rights.

          If the Company proposes to offer and sell Primary Shares pursuant to an Underwritten Offering
during the Effectiveness Period, it shall give written notice to the Holders at least 15 days
before the launch of such Underwritten Offering. Upon written notice from any Holder (such notice
to specify the number of Registrable Shares requested to be included in such Underwritten Offering
and state that such Holder of the Registrable Shares desires to sell such Registrable Shares in the
public securities markets) delivered to the Company within 5 business days after delivery of the
notice by the Company, the Company shall use commercially reasonable efforts to cause all such
Registrable Shares to be included in the Underwritten Offering on the same terms and conditions as
the Primary Shares otherwise being sold; provided, however, that if the managing
underwriter determines in good faith and advises the Company that the inclusion of some or all
Registrable Shares would interfere with the successful marketing (including pricing) of the
Underwritten Offering, the Primary Shares and Registrable Shares

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shall be included in the following order: (i) all of the Primary Shares; and (ii) the Registrable
Shares, pro rata among the Holders based upon the number of Registrable Shares
requested to be included by each Holder.

     Section 4. Requested Underwritten Offering; Registration Expenses.

          (a) If one or more Holders owning, in the aggregate, at least a majority of the Registrable
Shares at such time (the “Initiating Holder(s)”) notify the Company in writing that the intended
manner of disposition of all or part of the Registrable Shares then held by such Initiating
Holder(s) is to be made pursuant to an Underwritten Offering “take-down” under the Shelf
Registration Statement (a “Fully Marketed Underwritten Offering”), then the Company shall, within 5
business days of the receipt thereof, give written notice of such intention to all other Holders of
Registrable Shares under such Shelf Registration Statement, who must respond in writing within 15
business days requesting inclusion of such Holders’ Registrable Shares in such Fully Marketed
Underwritten Offering in order to participate in such Fully Marketed Underwritten Offering. In
such event, the right of any Holder to include its Registrable Shares in such Fully Marketed
Underwritten Offering shall be conditioned upon such Holder’s participation in such Fully Marketed
Underwritten Offering and inclusion of such Holder’s Registrable Shares in the Fully Marketed
Underwritten Offering to the extent provided herein. Notice will be deemed to have been given to a
Holder if it is mailed to the address last provided by the Holder in writing to the Company for
such Holder.

          (b) The Holder(s) of a majority of the Registrable Shares requested to be included in the
Fully Marketed Underwritten Offering (the “Participating Majority”) shall select one or more
nationally prominent firms of investment bankers reasonably acceptable to the Company to act as the
lead managing underwriter or underwriters in connection with such Fully Marketed Underwritten
Offering. All Holders proposing to distribute their securities through such underwriting shall
enter into an underwriting agreement with such underwriter or underwriters in accordance with
Section 12. The Company shall not, without the written consent of the Participating
Majority, include in such Fully Marketed Underwritten Offering any securities other than those
beneficially owned by the participating Holders. For avoidance of doubt, a piggyback registration
or offering shall not be deemed to be a Fully Marketed Underwritten Offering. Notwithstanding any
other provision of this Section 4(b), if the managing underwriter advises the Company and
the participating Holders in writing that, in its opinion, marketing factors require a limitation
of the amount of securities to be underwritten (including Registrable Shares) because the amount of
securities to be underwritten is likely to have an adverse effect on the price, timing or the
distribution of the securities to be offered, then the Company shall so advise all Holders of
Registrable Shares which would otherwise be underwritten pursuant hereto, and the amount of
Registrable Shares that may be included in the underwriting shall be allocated among participating
Holders, (i) first among the participating Holders as nearly as possible on a pro rata
basis based on the total amount of Registrable Shares held by such Holders requested to be included
in such underwriting and (ii) second to the extent all Registrable Shares requested to be
included in such underwriting by the participating Holders have been included, to any securities to
be included with the written consent of the Participating Majority pursuant to the previous
sentence allocated on such basis as the Company shall determine. The Company shall only be
required to effectuate one Fully Marketed Underwritten Offering; provided, however, that (i) for
the avoidance of doubt, subject to the provision with

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respect to payment of Registration Expenses for a withdrawn Fully Marketed Underwritten
Offering set forth in Section 4(c), the Company shall not be deemed to have effectuated any
Fully Marketed Underwritten Offering that is withdrawn at the request of the Participating Majority
and(ii) an Underwritten Offering shall not count as a Fully Marketed Underwritten Offering if the
Holders participating in such offering are not able to sell at least 50% of the Registrable Shares
desired to be sold in such Fully Marketed Underwritten Offering. The Company shall prepare
preliminary and final prospectuses (preliminary and final prospectus supplements in the case of an
offering pursuant to the Shelf Registration Statement) for use in connection with the Fully
Marketed Underwritten Offering, containing such additional information as may be reasonably
requested by the underwriter(s).

          (c) All expenses (other than underwriting discounts, commissions relating to the Registrable
Shares and fees of attorneys retained by the Holders, as provided below) incident to the Company’s
performance under or compliance with this Agreement (including without limitation in connection
with a Fully Marketed Underwritten Offering) including, without limitation, all registration and
filing fees (including all Commission registration fees and FINRA filing fees), fees and expenses
of complying with securities and blue sky laws, listing application fees, reasonable printing
expenses, transfer agent’s and registrar’s fees, costs of distributing Prospectuses in preliminary
and final form as well as supplements thereto and fees and expenses of the Company’s counsel,
accountants and other Persons retained by the Company and reasonable fees and expenses of one
counsel for the participating Holders selected by the Participating Majority (which counsel shall
be reasonably acceptable to the Company) (the “Holders’ Counsel”) incurred in connection with any
Fully Marketed Underwritten Offerings hereunder (the “Registration Expenses”) shall be paid by the
Company; provided, however, that all underwriting discounts and selling commissions
applicable to the Registrable Shares and the fees of all other attorneys retained by the Holders,
except for one Holders’ Counsel as described in this Section 4(c), shall be borne by the
Holders; provided, further that if the Fully Marketed Underwritten Offering is
withdrawn at the request of the Participating Majority, each Holder that had elected to participate
in such Fully Marketed Underwritten Offering shall pay its pro-rata share of 50% of the
Registration Expenses incurred by the Company in connection with such withdrawn Fully Marketed
Underwritten Offering, in which case the Company shall not be deemed to have effectuated a Fully
Marketed Underwritten Offering, provided, further, that if such withdrawal request
is the result of a material adverse change or event in the business, condition (financial or
otherwise), assets or prospects of the Company, the Company will pay all of the Registration
Expenses and the withdrawn Fully Marketed Underwritten Offering will not count as a Fully Marketed
Underwritten Offering.

     Section 5. Holdback Agreement.

          Each of the Holders (regardless of whether or not such Holder is a selling stockholder in any
Fully Marketed Underwritten Offering initiated pursuant to Section 4(a), and, in each case, with
respect to the Registrable Shares not included in such Fully Marketed Underwritten Offering) and
the Company agrees not to, directly or indirectly offer, sell, pledge, contract to sell (including
any short sale), grant any option to purchase or otherwise dispose of any equity securities of the
Company or enter into any hedging transaction relating to any equity securities of the Company
during the forty-five (45) days beginning on the pricing date of any Fully Marketed Underwritten
Offering initiated pursuant to Section 4(a) (except as part of such

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 underwritten registration or pursuant to registrations on Form S-8 or S-4 or any successor forms
thereto) unless the underwriter managing the offering or the Participating Majority otherwise
agrees to a shorter period; provided that the Participating Majority shall be entitled to waive the
provisions of this Section 5 with respect to any Holder or Holders; provided, further, however,
that if the Participating Majority waives this Section 5 with respect to any Affiliate of any
member of the Participating Majority, it shall not unreasonably withhold consent to a waiver of
this Section 5 with respect to any other Holder who requests such a waiver. Notwithstanding
anything herein to the contrary, the restrictions in this Section 5 do not apply either (i) to the
vesting of restricted stock, the issuance by the Company of restricted stock under any Company
stock option or stock purchase plan or director compensation plan, the grant of stock options under
any Company stock option plan or upon the exercise of stock options issued under any such plan or
(ii) to the settlement or closing by a Holder of a transaction, in accordance with its terms, that
was established or entered into prior to the commencement of such 45-day period.

     Section 6. Preparation and Filing.

          At such time as the Company is under an obligation pursuant to the provisions of this
Agreement to effect the registration of any Registrable Shares, the Company shall, as expeditiously
as practicable:

          (a) prepare and file with the Commission as promptly as possible after the S-4 Effective Date
the Shelf Registration Statement and thereafter use best reasonable efforts to cause such Shelf
Registration Statement to become and remain effective for the Effectiveness Period and as may be
necessary to comply with the provisions of the Securities Act with respect to the disposition of
the Registrable Shares covered by the Shelf Registration Statement;

          (b) furnish, at least 5 business days before filing a registration statement that registers
such Registrable Shares, a prospectus relating thereto or any amendments or supplements relating to
such a registration statement or prospectus (in each case including, without limitation, all
exhibits) to each Holder and to the Holders’ Counsel, copies of all such documents proposed to be
filed (it being understood that such 5 business day period need not apply to successive drafts of
the same document proposed to be filed so long as such successive drafts are supplied to the
Holders’ Counsel in advance of the proposed filing by a period of time that is customary and
reasonable under the circumstances); provided, however, that the Company shall not
file any part of any such documents to which the Holder shall have reasonably objected on the
grounds that it does not comply in all material respects with the requirements of the Securities
Act or of the rules or regulations thereunder; provided further that the Holders (and the
underwriter(s), if any) shall have three business days to review and comment thereon, and the
Company will make such changes and additions thereto as reasonably requested by the Holders (and
the underwriter(s), if any) prior to filing any registration statement or amendment thereto or any
Prospectus or any supplement thereto;

          (c) prepare and file with the Commission such amendments and supplements to such registration
statement and the prospectus used in connection therewith as may be necessary to keep such
registration statement effective during the Effectiveness Period, and to comply with the provisions
of the Securities Act with respect to the sale or other disposition of such Registrable Shares;

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          (d) notify in writing on a timely basis the Holders’ Counsel of the receipt by the Company of
any notification with respect to (i) any comments by the Commission with respect to such
registration statement or prospectus or any amendment or supplement thereto or any request by the
Commission for the amending or supplementing thereof or for additional information with respect
thereto, (ii) the issuance by the Commission of any stop order suspending the effectiveness of such
registration statement or prospectus or any amendment or supplement thereto or the initiation or
threatening of any proceeding for that purpose and (iii) the suspension of the qualification of
such Registrable Shares for sale in any jurisdiction or the initiation or threatening of any
proceeding for such purposes;

          (e) use commercially reasonable efforts to register or qualify such Registrable Shares under
such other securities or blue sky laws of such jurisdictions as the Holders, or in the case of a
Fully Marketed Underwritten Offering, the managing underwriter(s), reasonably request, and do any
and all other acts and things which may be reasonably necessary or advisable to enable the Holders
to consummate the disposition in such jurisdictions of the Registrable Shares owned by the Holders;
provided, however, that the Company will not be required to qualify generally to do
business, subject itself to general taxation or consent to general service of process in any
jurisdiction where it would not otherwise be required to do so but for this paragraph (e) or to
provide any material undertaking or make any changes in its Bylaws or Certificate of Incorporation
or to modify any of its then existing contractual relationships;

          (f) furnish to the Holders such number of copies of a summary prospectus, if any, or other
prospectus, including a preliminary prospectus, in conformity with the requirements of the
Securities Act, and such other documents as the Holders may reasonably request in order to
facilitate the public sale or other disposition of such Registrable Shares, provided,
however, that the Company shall have no obligation to furnish copies of a final Prospectus
if the conditions of Rule 172(c) under the Securities Act are satisfied by the Company;

          (g) in the case of a Fully Marketed Underwritten Offering or an offering in which any Holder
may be deemed an “underwriter” as defined in Section 2(a)(11) of the Securities Act, (a) enter into
and perform such customary agreements (including underwriting agreement in customary form) which
may include customary indemnification provisions, (b) take all such other actions as the
underwriter(s) reasonably request in order to expedite or facilitate the disposition of such
Registrable Shares and otherwise fully cooperate with the underwriter(s) in connection therewith,
and (c) obtain for delivery to the Holders and the underwriter(s) an opinion or opinions from
counsel for the Company in customary form and in form, substance and scope reasonably satisfactory
to the Holders, the underwriters and their counsel;

          (h) without limiting subsection (e) above, use commercially reasonable efforts to cause such
Registrable Shares to be registered with or approved by such other governmental agencies or
authorities as may be necessary by virtue of the business and operations of the Company to enable
the Holders holding such Registrable Shares to consummate the disposition of such Registrable
Shares;

          (i) notify the Holders on a timely basis at any time when a prospectus relating to such
Registrable Shares is required to be delivered under the Securities Act within the appropriate
period mentioned in subparagraph (a) of this Section 6, of the happening of any

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 event as a result of which the prospectus included in such registration statement, as then in
effect, includes an untrue statement of a material fact or omits to state a material fact required
to be stated therein or necessary to make the statements therein not misleading in light of the
circumstances then existing and, at the request of the Holders, subject to Section 7
hereof, prepare and furnish to the Holders a reasonable number of copies of a supplement to or an
amendment of such prospectus as may be necessary so that, as thereafter delivered to the offerees
of such shares, such prospectus shall not include an untrue statement of a material fact or omit to
state a material fact required to be stated therein or necessary to make the statements therein not
misleading in light of the circumstances then existing;

          (j) make available upon reasonable notice and during normal business hours, for inspection by
any attorney, accountant, underwriter or other agent retained by the Holders (collectively, the
“Inspectors”) all pertinent information as shall be reasonably necessary to enable the Inspectors
and the Holders to exercise their applicable due diligence responsibilities, and cause the
Company’s officers, directors and employees to supply such information; provided,
however, that the Holders and Inspectors execute a confidentiality and non-use agreement in
a form reasonably satisfactory to the Company;

          (k) (i) in connection with a Fully Marketed Underwritten Offering or an offering in which any
Holder may be deemed an “underwriter” as defined in Section 2(a)(11) of the Securities Act, furnish
an opinion of counsel for the Company to the underwriter(s) or Holders, as the case may be,
reasonably satisfactory in form and substance to the underwriters(s) or Holders, as the case may
be; and (ii) if requested, furnish “comfort letters” dated the effective date of the Shelf
Registration Statement and, in the case of a Fully Marketed Underwritten Offering, as of the date
of the applicable underwriting agreement and the closing date under the applicable underwriting
agreement, in each case addressed to the Holders and each underwriter, if any, and signed by the
independent certified public accountants who have certified the Company’s financial statements,
each such “comfort letter” shall be in customary form and shall cover substantially the same
matters with respect to such registration statement (and the prospectus and any prospectus
supplement included therein) as are customarily covered in accountants’ letters delivered to the
underwriters in primary underwritten public offerings of securities and such other matters as such
underwriters may reasonably request.

          (l) provide a transfer agent and registrar (which may be the same entity and which may be the
Company) for such Registrable Shares;

          (m) issue certificates evidencing such Registrable Shares to any underwriter or other Person
to which the Holders may sell the Registrable Shares in such offering free of restrictive legends
and transfer restrictions;

          (n) list such Registrable Shares on each securities market and securities exchange on which
the Company’s Common Stock are listed;

          (o) cooperate with the Holders and the underwriters, if any, and their respective counsel in
connection with any filings to be made with the FINRA;

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          (p) otherwise use its Best Efforts to comply with all applicable rules and regulations of the
Commission; and

          (q) subject to all the other provisions of this Agreement, use commercially reasonable efforts
to take all other steps reasonably necessary to effect the registration of such Registrable Shares
contemplated hereby.

     Section 7. Suspension; Blackout Period.

          Each Holder agrees that upon written notice from the Company (a “Suspension Notice”) of (i)
the happening of any event as a result of which the Prospectus included or deemed included in the
Shelf Registration Statement contains an untrue statement of a material fact or omits any material
fact necessary to make the statement therein not misleading or (ii) the Company’s reasonable
determination that the disclosure of such event at such time would materially interfere with any
proposed acquisition, disposition, financing or other material transaction involving the Company or
its subsidiaries or would otherwise cause a material harm to the Company or, as determined by the
Board, would not be in the best interest of the Company to be disclosed at such time, such Holder
will forthwith discontinue the disposition of the Registrable Shares pursuant to the Shelf
Registration Statement for only such time as reasonably necessary, after which the Company shall
give the Holders written notice that the Blackout Period has ended. If the Company gives the
Holders any Suspension Notice, the Company shall extend the period of time during which the Company
is required to maintain the applicable registration statement effective pursuant to this Agreement
by the number of days during the period from and including the date of the giving of such
Suspension Notice to and including the date the Holders either is advised by the Company that the
use of the Prospectus may be resumed or receives the copies of the supplemented or amended
Prospectus (a “Blackout Period”). Notwithstanding anything to the contrary herein, the Company
shall not exercise its rights under the preceding sentence to suspend sales of Registrable Shares
for a period in excess of 30 days consecutively or 90 days in the aggregate.

     Section 8. Lock-Up Agreement.

          Excluding Permitted Transfers, during the Lockup Period, no Holder will (i) directly or
indirectly, sell, offer to sell, contract to sell, pledge or otherwise dispose of or transfer any
Registrable Shares or (ii) enter into any swap, derivative or other transaction or arrangement that
transfers to another, in whole or in part, any economic consequence of ownership of a Registrable
Shares, whether or not such transaction is to be settled by delivery of Registrable Shares, other
securities, cash or other consideration.

     Section 9. Indemnification.

          (a) In connection with any registration of any Registrable Shares under the Securities Act
pursuant to this Agreement, the Company shall indemnify and hold harmless the Holders, their
directors, officers, managers, employees, members, partners, shareholders and advisors and their
respective affiliates, each underwriter, broker or any other person acting on behalf of the holders
of Registrable Shares and each other person, if any, who controls any of the foregoing persons
within the meaning of the Securities Act against any losses, claims, damages

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or liabilities, joint or several (or actions or proceedings, whether commenced or threatened
in respect thereof), to which any of the foregoing persons may become subject under the Securities
Act or otherwise, insofar as such losses, claims, damages or liabilities (or actions or
proceedings, whether commenced or threatened in respect thereof) arise out of or are based upon an
untrue statement or allegedly untrue statement of a material fact contained in the registration
statement under which such Registrable Shares were registered under the Securities Act, any
preliminary Prospectus or final Prospectus contained therein or otherwise filed with the
Commission, any “issuer free writing prospectus” (as defined in Securities Act Rule 433), any
amendment or supplement to any of the foregoing or any document incident to registration or
qualification of any Registrable Shares, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the
statements therein not misleading or, with respect to any prospectus, necessary to make the
statements therein in light of the circumstances under which they were made not misleading, or
arise out of or are based on any violation or alleged violation by the Company of the Securities
Act, the Exchange Act or state securities or blue sky laws applicable to the Company and relating
to action or inaction required of the Company in connection with such registration or qualification
under such state securities or blue sky laws; and shall reimburse any of the foregoing persons for
any legal or other expenses reasonably incurred by any of them in connection with investigating or
defending any such loss, claim, damage, liability or action; provided, however,
that the Company shall not be liable to a Holder (or its directors, officers, managers, employees,
members, partners, shareholders or advisors or their respective affiliates) in any such case if and
to the extent that any such loss, claim, damage, liability, action or proceeding (including any
legal or other expenses incurred) arises out of or is based upon an untrue statement or omission
made in such registration statement, preliminary prospectus, final prospectus, amendment,
supplement or document incident to registration or qualification of any Registrable Shares in
reliance upon and in conformity with written information furnished to the Company through an
instrument duly executed by such Holder or its counsel specifically for inclusion therein.

          (b) In connection with any registration of Registrable Shares under the Securities Act
pursuant to this Agreement, each Holder shall severally, and not jointly, indemnify and hold
harmless (in the same manner and to the same extent as set forth in the preceding paragraph of this
Section 9) the Company, each director of the Company, each officer of the Company, and each
person who controls any of the foregoing persons within the meaning of the Securities Act with
respect to any statement or omission from such registration statement, any preliminary prospectus
or final prospectus contained therein or otherwise filed with the Commission, any amendment or
supplement thereto or any document incident to registration or qualification of any Registrable
Shares, if such statement or omission was made in reliance upon and in conformity with written
information furnished to the Company or such underwriter specifically for use in connection with
the preparation of such registration statement, preliminary prospectus, final prospectus,
amendment, supplement or document; provided, however, that the maximum amount of
liability in respect of such indemnification shall be limited, in the case of each Holder to an
amount equal to the net proceeds actually received by such Holder from the sale of Registrable
Shares effected pursuant to such registration.

          (c) Promptly after receipt by an indemnified party of notice of the commencement of any action
involving a claim referred to in the preceding paragraphs of this Section 8, such
indemnified party will, if a claim in respect thereof is made against an

12

 

indemnifying party, give written notice to the latter of the commencement of such action. The
failure of any indemnified party to notify an indemnifying party of any such action shall not
(unless such failure shall have a material adverse effect on the indemnifying party) relieve the
indemnifying party from any liability in respect of such action that it may have to such
indemnified party on account of this Section 9. In case any such action is brought against
an indemnified party, the indemnifying party will be entitled to participate in and to assume the
defense thereof, jointly with any other indemnifying party similarly notified to the extent that it
may wish, with counsel reasonably satisfactory to such indemnified party, and after notice from the
indemnifying party to such indemnified party of its election so to assume the defense thereof, the
indemnifying party shall not be responsible for any legal or other expenses subsequently incurred
by the indemnified party in connection with the defense thereof; provided, however,
that if any indemnified party shall have reasonably concluded that there may be one or more legal
or equitable defenses available to such indemnified party which are additional to or conflict with
those available to the indemnifying party, or that such claim or litigation involves or could have
an effect upon matters beyond the scope of the indemnity agreement provided in this Section
9, the indemnifying party shall not have the right to assume the defense of such action on
behalf of such indemnified party (but shall have the right to participate therein with counsel of
its choice) and such indemnifying party shall reimburse such indemnified party and any person
controlling such indemnified party for that portion of the reasonable fees and expenses of any
counsel retained by the indemnified party which is reasonably related to the matters covered by the
indemnity agreement provided in this Section 9. If the indemnifying party is not entitled
to, or elects not to, assume the defense of a claim, it will not be obligated to pay the fees and
expenses of more than one counsel with respect to such claim. No indemnifying party shall, without
the consent of the indemnified party, consent to entry of any judgment or enter into any settlement
which does not include as an unconditional term thereof the giving by the claimant or plaintiff to
such indemnified party of a release from all liability in respect to such claim or litigation.

          (d) If the indemnification provided for in this Section 9 is held by a court of
competent jurisdiction to be unavailable to an indemnified party with respect to any loss, claim,
damage, liability or action referred to herein, then the indemnifying party, in lieu of
indemnifying such indemnified party hereunder, shall contribute to the amounts paid or payable by
such indemnified party as a result of such loss, claim, damage, liability or action in such
proportion as is appropriate to reflect the relative fault of the indemnifying party on the one
hand and of the indemnified party on the other in connection with the statements or omissions which
resulted in such loss, claim, damage, liability or action as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and of the indemnified party shall be
determined by reference to, among other things, whether the untrue or alleged untrue statement of a
material fact or the omission or alleged omission to state a material fact relates to information
supplied by the indemnifying party or by the indemnified party and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission.
The parties agree that it would not be just and equitable if contribution pursuant hereto were
determined by pro rata allocation or by any other method of allocation which does not take account
of the equitable considerations referred to herein. No person guilty of misrepresentation shall be
entitled to contribution from any person. In no event shall the liability of a Holder hereunder
exceed an amount equal to the net proceeds actually received by such Holder from the sale of
Registrable Shares effected pursuant to such registration.

13

 

          (e) Indemnification similar to that specified in Sections 9(a), (b) and
(c) above (with appropriate modifications) shall be given by the Company and each Holder of
Registrable Shares with respect to any required registration or other qualification of securities
under any Federal or state law or regulation of any governmental authority other than the
Securities Act.

          (f) The indemnification required by this Section 9 shall be made by periodic payments
of the amount thereof during the course of the investigation or defense, as and when bills are
received or expense, loss, damage or liability is incurred.

          (g) The indemnities set forth in this Section 9 shall survive the termination of this
Agreement.

     Section 10. Adjustments Affecting Registrable Shares.

           The Company will not effect or permit to occur any combination or subdivision which
would adversely affect the ability of the Holders of Registrable Shares to include such Registrable
Shares in any registration of its securities contemplated by this Agreement or the marketability of
such Registrable Shares under any such registration.

     Section 11. Mergers, etc.

           The Company shall not, directly or indirectly, enter into any merger, consolidation
or reorganization in which the Company shall not be the surviving entity unless the surviving
entity shall, prior to such merger, consolidation or reorganization, agree in writing to assume the
obligations of the Company under this Agreement, and for that purpose references hereunder to
“Registrable Shares” shall be deemed to include the common equity interests or other securities, if
any, which the Holders would be entitled to receive in exchange for Registrable Shares under any
such merger, consolidation or reorganization, provided that, to the extent the Holders receive
securities that are by their terms convertible into common equity interests of the issuer thereof,
then any such common equity interests as are issued or issuable upon conversion of said convertible
securities shall be included within the definition of “Registrable Shares.”

     Section 12. Underwriting Agreement.

          If requested by the underwriters for a Fully Marketed Underwritten Offering, the Company shall
enter into an underwriting agreement with such underwriters for such offering, such agreement to be
reasonably satisfactory in substance and form to the underwriters, and to contain such
representations and warranties by the Company and such other terms as are generally prevailing in
agreements of that type, including, without limitation, indemnities to the effect and to the extent
provided in Section 9. The Holders of Registrable Shares participating in the Fully
Marketed Underwritten Offering shall be parties to such underwriting agreement; provided,
however, that no such Holder of Registrable Shares shall be required to make any
representations or warranties to, or agreements with, the Company or the underwriters, other than
representations, warranties or agreements regarding the identity of such Holders, such Holders’
Registrable Shares and such Holders’ intended method of distribution and any other representation,
warranty or agreement required by law or as set forth in this Agreement. No Holder may participate
in the Fully Marketed Underwritten Offering unless such Holder agrees

14

 

to sell its Registrable Shares on the basis provided in such underwriting agreement and completes
and executes all questionnaires, powers of attorney, indemnities and other documents reasonably
required under the terms of such underwriting agreement, provided, however, that no
such Holder of Registrable Shares shall be required to make any representations or warranties to,
or agreements with, the Company or the underwriters, other than representations, warranties or
agreements regarding the identity of such Holders, such Holders’ Registrable Shares and such
Holders’ intended method of distribution and any other representation, warranty or agreement
required by law or as set forth in this Agreement. Each participating Holder may, at its option,
require that any or all of the representations and warranties by, and the other agreements on the
part of, the Company to and for the benefit of such underwriters also be made to and for such
participating Holder’s benefit and that any or all of the conditions precedent to the obligations
of such underwriters under such underwriting agreement also be conditions precedent to its
obligations. To the extent that the Holders selling Registrable Shares in a proposed registration
shall enter into an underwriting or similar agreement, which agreement contains provisions covering
one or more issues addressed in this Agreement, the provisions contained in this Agreement
addressing such issue or issues shall be of no force and effect with respect to such registration,
but this provision will not apply to the Company if the Company is not a party to the underwriting
or similar agreement

     Section 13. Information by Holders.

          The Holders shall furnish to the Company such written information regarding the Holders and
the distribution proposed by the Holders as the Company may reasonably request in writing and as
shall be reasonably required in connection with any registration, qualification or compliance
referred to in this Agreement.

     Section 14. Rule 144; Rule 144A.

          (a) To the extent required to enable the Holders to sell or transfer the Registrable Shares
under Rule 144, the Company shall, from time to time, timely file the reports required to be filed
by it under the Securities Act and the Exchange Act. In connection with any sale or transfer of
Registrable Shares permitted under the terms of this Agreement, the Company shall, to the extent
allowed by law, cause any restrictive legends to be removed and any transfer restrictions to be
rescinded with respect to such Registrable Shares.

          (b) In order to permit the Holders of Registrable Shares to sell the same, if they so desire,
pursuant to Rule 144A (subject to the limitations in this Agreement), the Company shall comply with
all rules and regulations of the Commission applicable in connection with use of Rule 144A.

     Section 15. No Conflict of Rights.

           The Company shall not, prior to the termination of this Agreement, grant any
registration rights that are superior to or inconsistent with the rights granted to the Holders
hereby.

15

 

     Section 16. Exchange Act Compliance.

          From the Registration Date or such earlier date as a registration statement filed by the
Company pursuant to the Exchange Act relating to any class of the Company’s securities shall have
become effective, the Company shall comply with all of the reporting requirements of the Exchange
Act applicable to it and shall comply with all other public information reporting requirements of
the Commission which are conditions to the availability of Rule 144 for the sale of the Common
Stock. The Company shall reasonably cooperate with the Holder in supplying such information as may
be necessary for the Holder to complete and file any information reporting forms presently or
hereafter required by the Commission as a condition to the availability of Rule 144.

     Section 17. Termination.

          Except as otherwise provided herein, this Agreement shall terminate and be of no further force
or effect upon expiration of the Effectiveness Period.

     Section 18. Transfer.

          During the Lockup Period, each Holder may sell or otherwise transfer all or any part of its
Registrable Shares to any other Holder or to any Affiliate or Immediate Family member of any Holder
(a “Permitted Transfer”); provided, however, that as a condition to the
effectiveness of such Permitted Transfer, the following conditions are met:

               (i) the Permitted Transfer shall be made pursuant to a valid, applicable exemption from
registration under the Securities Act, and the Holder shall have delivered an opinion of counsel to
the Company to that effect; and

               (ii) the transferee executes a counterpart to this Agreement agreeing to be treated as a
Holder whereupon such purchaser or transferee shall have the benefits of, and shall be subject to
the restrictions contained in, this Agreement as if such transferee was originally included in the
definition of Holder herein and had originally been a party hereto.

     Section 19. Successors and Assigns.

          This Agreement shall bind and inure to the benefit of the Company, the Holders and their
respective successors and permitted assigns.

     Section 20. Entire Agreement.

          This Agreement, the PSA and the other writings referred to herein or therein or delivered
pursuant hereto or thereto, contain the entire agreement between the Holders and the Company with
respect to the subject matter hereof and supersede all prior and contemporaneous arrangements or
understandings with respect thereto.

16

 

     Section 21. Notices.

          All notices, requests, consents and other communications hereunder to any party shall be
deemed to be sufficient if contained in a written instrument delivered in person or sent by
telecopy, nationally-recognized overnight courier or first class registered or certified mail,
return receipt requested, postage prepaid, addressed to such party at the address set forth below
or such other address as may hereafter be designated in writing by such party to the other parties:

If to any Holder, to the address set forth on Schedule A attached hereto, with
copies (which shall not constitute notice) to:

Wapiti Energy, LLC

800 Gessner, Suite 1000

Houston, Texas 77024

Telephone:     (713) 365-8500

Facsimile:        (713-365-8510

email:               reagee@wapitienergy.com

Attention:       Chairman of the Board

and to

Bond & Smyser, LLP

5505 Jackson

Houston, Texas 77004

Telephone:     (713) 524-4200

Facsimile:        (713) 524-1196

email:               abond@bondsmyser.com

Attention:       Adrienne Randle Bond

If to the Company:

Denbury Resources Inc.

5100 Tennyson Parkway, Suite 1200

Plano, Texas 75024

Telephone:     (972) 673-2000

Facsimile:        (972) 673-2051

email:               phil.rykhoek@denbury.com

Attention:       Phil Rykhoek, CEO

with a copy to:

Baker & Hostetler LLP

1000 Louisiana, Suite 2000

Houston, Texas 77002

Telephone:     (713) 751-1600

Facsimile:        (713) 751-1717

email:               dbrodsky@bakerlaw.com

Attention:       Donald W. Brodsky

17

 

All such notices, requests, consents and other communications shall be deemed to have been
delivered (a) in the case of personal delivery or delivery by telecopy, on the date of such
delivery, (b) in the case of dispatch by nationally-recognized overnight courier, on the next
business day following such dispatch and (c) in the case of mailing, on the third business day
after the posting thereof.

     Section 22. Modifications; Amendments; Waivers.

          The terms and provisions of this Agreement may not be modified or amended, nor may any
provision be waived, except pursuant to a writing signed by the Company and the Holders of at least
a majority of the Registrable Shares then outstanding.

     Section 23. Remedies; Specific Performance.

          (a) Each Holder shall have all rights and remedies reserved for such Holder pursuant to this
Agreement and all rights and remedies which such Holder has been granted at any time under any
other agreement or contract and all of the rights which such Holder has under any law or equity.
Any Person having any rights under any provision of this Agreement will be entitled to enforce such
rights specifically, to recover damages by reason of any breach of any provision of this Agreement
and to exercise all other rights granted by law or equity.

          (b) The parties hereto recognize and agree that money damages may be insufficient to
compensate the Holders of any Registrable Shares for breaches by the Company of the terms hereof
and, consequently, that the equitable remedies of injunctive relief and of specific performance of
the terms hereof will be available in the event of any such breach. If any action should be
brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto
shall raise the defense that there is an adequate remedy at law.

     Section 24. Severability.

          It is the desire and intent of the parties that the provisions of this Agreement be enforced
to the fullest extent permissible under the law and public policies applied in each jurisdiction in
which enforcement is sought. Accordingly, in the event that any provision of this Agreement would
be held in any jurisdiction to be invalid, prohibited or unenforceable for any reason, such
provision, as to such jurisdiction, shall be ineffective, without invalidating the remaining
provisions of this Agreement or affecting the validity or enforceability of such provision in any
other jurisdiction. Notwithstanding the foregoing, if such provision could be more narrowly drawn
so as not be invalid, prohibited or unenforceable in such jurisdiction, it shall, as to such
jurisdiction, be so narrowly drawn, without invalidating the remaining provisions of this Agreement
or affecting the validity or enforceability of such provision in any other jurisdiction.

     Section 25. Counterparts; Facsimile Signatures.

          This Agreement may be executed in any number of counterparts, and each such counterpart hereof
shall be deemed to be an original instrument, but all such counterparts together shall constitute
but one agreement. Facsimile counterpart signatures to this Agreement

18

 

shall be acceptable at the Closing (as defined in the PSA) if the originally executed counterpart
is delivered within a reasonable period thereafter.

     Section 26. Headings.

          The headings of the various sections of this Agreement have been inserted for convenience of
reference only and shall not be deemed to be a part of this Agreement.

     Section 27. Governing Law

           This Agreement shall be governed by and construed in accordance with the laws of the
State of Texas applicable to contracts made and to be performed wholly therein.

     Section 28. Other.

          (a) The Company shall not permit any officer, director, underwriter, broker or any other
person acting on behalf of the Company to use any free writing prospectus (as defined in Rule 405
under the Securities Act) in connection with any registration statement covering Registrable
Shares, without the prior written consent of each Holder and any underwriter. No Holder shall, or
permit any officer, manager, underwriter, broker or any other person acting on behalf of such
Holder to use any free-writing prospectus in connection with any registration statement covering
Registrable Shares, without the prior written consent of the Company.

          (b) The Company represents and warrants that no registration statement that registers
Registrable Shares (including any amendments or supplements thereto and Prospectuses contained
therein) shall contain any untrue statement of a material fact or omit to state a material fact
required to be stated therein, or necessary to make the statements therein not misleading (except
that the Company makes no representation or warranty with respect to information relating to the
Holders furnished to the Company by or on behalf of the Holders specifically for use therein).

[SIGNATURE PAGE TO FOLLOW]

19

 

          IN WITNESS WHEREOF, the parties hereto have executed this Registration Rights Agreement on the
date first written above.

	 	 	 	 	 
	 	 	THE COMPANY:
	 
	 	 	 	 
	 	 	DENBURY RESOURCES INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ H. Ray Dubuisson
	 

	 	 	 	 
	 

	 	Name:
	 	H. Ray Dubuisson
	 

	 	Title:
	 	Vice President — Legal

 

	 	 	 	 	 
	 	 	INVESTORS:
	 
	 	 	 	 
	 	 	WAPITI ENERGY, LLC
	 
	 	 	 	 
	 

	 	By:	 	/s/ Richard E. Agee 
	 

	 	 	 	 
	 

	 	Name:
	 	Richard E. Agee
	 

	 	Title:
	 	Chairman of the Board
	 
	 	 	 	 
	 
	 	 	AGEE FAMILY INTERESTS, L.P.

By:  Agee Holdings, L.L.C., its general partner
	 
	 	 	 	 
	 

	 	By:	 	 /s/ Richard E. Agee
	 

	 	 	 	 
	 

	 	Name:	 	Richard E. Agee, President
	 
	 
	 	 	 	 
	 	 	K & B AGEE PARTNERS, L.P.

By:  Agee Investments, L.L.C., its general partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Bart Agee 
	 

	 	 	 	 
	 

	 	Name:	 	Bart Agee, President 

	 	 	 	 	 
	 
	 	 	RICHARD E. AGEE
	 
	 	 	 	 
	 
	 	/s/ Richard E. Agee 
	 	 	 
	 

	 	Print Name:	 	Richard E. Agee 
	 
	 
	 	 	 	 
	 	 	BART AGEE
	 
	 	 	 	 
	 
	 	/s/ Bart Agee 
	 	 	 
	 

	 	Print Name:	 	Bart Agee 

 

 

	 	 	 	 	 
	 	 	JUDITH T. AGEE
	 
	 	 	 	 
	 
	 	/s/ Judith T. Agee 
	 	 	 
	 

	 	Print Name:	 	Judith T. Agee 

	 	 	 	 	 
	 
	 	 	QUANTUM ENERGY PARTNERS III, LP

By:  Quantum Energy Management III, LP

          its General Partner

By:  Quantum Energy Management III, LLC

          its General Partner

	 
	 	 	 	 
	 

	 	By:	 	/s/ S. Wil VanLoh, Jr. 
	 

	 	 	 	 
	 

	 	 	 	S. Wil VanLoh, Jr., President 
	 
	 
	 	 	 	 
	 	 	WAPITI PARALLEL PARTNERS

By:  Quantum Energy Management III, LP

          its Managing General Partner

By:  Quantum Energy Management III, LLC

          its General Partner

	 
	 	 	 	 
	 

	 	By:	 	/s/ S. Wil VanLoh, Jr. 
	 

	 	 	 	 
	 

	 	 	 	S. Wil VanLoh, Jr., President 
	 
	 
	 	 	 	 
	 	 	D.E. SHAW AQ – SP SERIES 3-02, L.L.C.

By:  D.E. Shaw & Co., L.L.C., its manager
	 
	 	 	 	 
	 

	 	By:	 	/s/ Robert T. Ladd 
	 

	 	 	 	 
	 

	 	Name:	 	Robert T. Ladd 
	 

	 	Title:	 	Authorized Signatoryexv10w1

Exhibit 10.1

SELL-DOWN REGISTRATION RIGHTS AGREEMENT

dated as of

December 23, 2009

by and among

TTM TECHNOLOGIES, INC.,

MEADVILLE HOLDINGS LIMITED

and

MTG INVESTMENT (BVI) LIMITED

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	ARTICLE I DEFINITIONS	 	 	1	 
	1.1
	 	Definitions	 	 	1	 
	1.2
	 	Table of Definitions	 	 	3	 
	ARTICLE II REGISTRATION OF REGISTRABLE SECURITIES	 	 	4	 
	2.1
	 	Registration	 	 	4	 
	2.2
	 	Expenses	 	 	7	 
	ARTICLE III INDEMNIFICATION	 	 	7	 
	3.1
	 	Indemnification by the Company	 	 	7	 
	3.2
	 	Indemnification by Underwriters	 	 	7	 
	3.3
	 	Notices of Claims, Etc.	 	 	8	 
	3.4
	 	Contribution	 	 	8	 
	3.5
	 	Other Indemnification	 	 	9	 
	3.6
	 	Non-Exclusivity	 	 	9	 
	ARTICLE IV SELECTION OF UNDERWRITERS	 	 	9	 
	4.1
	 	Selection of Underwriters	 	 	9	 
	ARTICLE V MISCELLANEOUS	 	 	9	 
	5.1
	 	Termination	 	 	9	 
	5.2
	 	Amendments; Waivers	 	 	10	 
	5.3
	 	Successors and Assigns	 	 	10	 
	5.4
	 	Notices	 	 	10	 
	5.5
	 	Headings	 	 	11	 
	5.6
	 	Severability	 	 	11	 
	5.7
	 	Counterparts	 	 	11	 
	5.8
	 	Entire Agreement	 	 	12	 
	5.9
	 	Governing Law; Consent to Jurisdiction; Waiver of Trial by Jury	 	 	12	 
	5.10
	 	Specific Performance; Injunctive Relief	 	 	13	 
	5.11
	 	Interpretation	 	 	13	 
	 
	 	 	 	 	 	 
	Exhibit A — Plan of Distribution
	 	 	A-1	 

 

 

SELL-DOWN REGISTRATION RIGHTS AGREEMENT

     This
REGISTRATION RIGHTS AGREEMENT, dated as of December 23, 2009 (this
“Agreement”), is by and among TTM Technologies, Inc., a Delaware corporation (together with
any successor entity thereto, the “Company”), Meadville Holdings Limited, an exempted
company incorporated under the laws of the Cayman Island with limited liability (the “Seller
Parent”), MTG Investment (BVI) Limited, a corporation organized under the laws of the British
Virgin Islands (the “Seller”) and a wholly owned subsidiary of Seller Parent. The Company,
Seller and Seller Parent are sometimes referred to herein as a “Party” and collectively as
the “Parties.”

RECITALS

     WHEREAS, pursuant to the transactions contemplated by that certain Stock Purchase Agreement,
dated November 16, 2009 (as it may be amended and supplemented from time to time, the
“Transaction Agreement”), between the Company, Seller Parent, Seller, and the other parties
named therein, and pursuant to certain agreements and arrangements ancillary thereto, the Company
will issue to Seller Parent, as designee of Seller, shares of Common Stock (as defined below) on
the closing date of the transaction contemplated therein (the “Closing Date”);

     WHEREAS, Seller Parent is expected to distribute by way of dividend, within 25 days of the
Closing Date approximately 26,233,000 shares (as may be adjusted pursuant to Section 2.6 of the
Transaction Agreement) of such Common Stock to Mr. Tang (in his personal capacity and in his
capacity as trustee of the The Mein et Moi Trust), TMIL, SSL, with Mr. Tang (in his personal
capacity and in his capacity as trustee of the The Mein et Moi Trust) and TMIL directing the Common
Stock entitled to be received by Mr. Tang and TMIL to be registered in the name of SSL (the date of
such distribution, the “Effective Date”) and the remaining shares of the Common Stock
are, depending upon the election of the other shareholders of Seller Parent (such shareholders, the
“Independent Shareholders”) expected to (A) either be distributed by way of dividend on the
Effective Date to such Independent Shareholders which elect to receive such distribution in Common
Stock; or (B) be sold by the Seller Parent or one of its subsidiaries in one or more transactions
registered under the Securities Act (the “Sell-Down”), with the proceeds of sales of such
shares of Common Stock (“Sell-Down Shares”) being distributed by way of dividend to such
Independent Shareholders which elect to receive such proceeds in the form of cash;

     WHEREAS, it is a condition precedent to the closing of the transactions contemplated by the
Transaction Agreement that the parties hereto execute and deliver this Agreement to enable the sale
of the Sell-Down Shares in the Sell-Down.

     NOW THEREFORE, for good and valuable consideration, the receipt of which is hereby
acknowledged, the Company desires to provide to each Holder (as defined below) upon receipt of
Sell-Down Shares, the right to register the Registrable Securities (as defined below) held by them
under the Securities Act (as defined below) on the terms and subject to the conditions set forth
herein.

ARTICLE I

DEFINITIONS

     1.1 Definitions. As used in this Agreement, the following capitalized terms shall have
the following respective meanings:

     “Action” means any action, suit, arbitration, inquiry, proceeding, or investigation by
or before any governmental entity.

 

 

     “Affiliate” means, with respect to any Person, any other Person that directly, or
indirectly through one or more intermediaries, controls, is controlled by, or is under common
control with, such specified Person, and, with respect to a natural Person, shall also include the
spouse and minor children of such natural Person who share a household with such natural Person,
together with any other Person controlled by them and any revocable trust settled by them or any
trust of which such Person is a trustee.

     “Authority” means any domestic (including federal, state, or local) or foreign court,
arbitrator, administrative, regulatory, or other governmental department, agency, official,
commission, tribunal, authority, or instrumentality, non-government authority, or Self-Regulatory
Organization.

     “Common Stock” means the common stock of the Company, US$0.001 par value per share.

     “Exchange Act” means the United States Securities Exchange Act of 1934, as amended,
and all rules and regulations promulgated thereunder.

     “Excluded Expenses” means any (i) underwriting discount and commission and (ii)
transfer taxes and stamp duties, in each case applicable to Registrable Securities offered for a
Holder’s account in accordance with this Agreement.

     “FINRA” means the Financial Industry Regulatory Authority.

     “Holder” means the Seller Parent and its subsidiaries which hold Registrable
Securities from time to time.

     “Person” means any individual, partnership, firm, corporation, limited liability
company, association, trust, unincorporated organization or other entity, as well as any syndicate
or group that would be deemed to be a person under Section 13(d)(3) of the Securities Exchange Act
of 1934, as amended.

     “Registrable Securities” means all and any Common Stock comprising Sell-Down Shares
held from time to time by any Holder (including any securities issuable or issued or distributed
in respect of any Sell-Down Shares by way of a stock dividend or stock split or in connection with
a combination of shares, recapitalization, reorganization, merger, amalgamation, consolidation or
otherwise). For purposes of this Agreement, Registrable Securities shall cease to be Registrable
Securities when a Registration Statement covering such Registrable Securities has been declared
effective under the Securities Act by the SEC and such Registrable Securities have been disposed of
pursuant to such effective Registration Statement.

     “Registration Expenses” means all expenses in connection with or incident to the
registration of Registrable Securities hereunder, including (a) all SEC and any FINRA registration
and filing fees and expenses, (b) all fees and expenses in connection with the registration or
qualification of Registrable Securities for offering and sale under the securities or “blue sky”
laws of any state or other jurisdiction of the United States of America and, in the case of an
underwritten offering, determination of their eligibility for investment under the laws of such
jurisdictions as the managing underwriter or underwriters may reasonably designate, including
reasonable fees and disbursements, if any, of counsel for the underwriters in connection with such
registrations or qualifications and determination, (c) all expenses relating to the preparation,
printing, distribution and reproduction of any Registration Statement required to be filed
hereunder, each prospectus included therein or prepared for distribution pursuant hereto, each
amendment or supplement to the foregoing, the expenses of preparing Registrable Securities in a
form for delivery for purchase pursuant to such registration or qualification and the expense of
printing or producing any underwriting agreement(s) and agreement(s) among underwriters and any
“blue sky” or legal investment

2

 

memoranda, any selling agreements and all other documents approved for use in writing by the
Company to be used in connection with the offering, sale or delivery of Registrable Securities, (d)
messenger, telephone and delivery expenses of the Company and out-of-pocket travel expenses
incurred by or for the Company’s personnel for travel undertaken for any “road show” made in
connection with the offering of securities registered thereby, (e) fees and expenses of any
transfer agent and registrar with respect to the delivery of any Registrable Securities and any
escrow agent or custodian involved in the offering, (f) fees, disbursements and expenses of counsel
of the Company and independent certified public accountants of the Company incurred in connection
with the registration, qualification and offering of the Registrable Securities (including the
expenses of any opinions or “comfort” letters required by or incident to such performance and
compliance), (g) fees, expenses and disbursements of counsel and any other persons retained by the
Company, including special experts retained by the Company in connection with such registration,
(h) Securities Act liability insurance, if the Company desires such insurance, (i) transfer agents’
and registrars’ fees and expenses and the fees and expenses of any other agent or trustee appointed
in connection with such offering, and (j) the fees and expenses incurred by the Company and its
advisers in connection with the quotation or listing of Registrable Securities on any securities
exchange or automated securities quotation system. For the avoidance of doubt, Excluded Expenses
shall not be “Registration Expenses.”

     “Registration Statement” means one or more registration statements under the
Securities Act on any form relating to all of the Registrable Securities to be registered for sale,
to the extent required to permit the disposition (in accordance with the intended method or methods
of distribution thereof as notified to the Company by Seller Parent) of the Registrable Securities
so registered..

     “Representatives” means with respect to any Party, the directors, officers, employees,
agents, attorneys, accountants, consultants, financial, and other advisors of such Party.

     “SEC” means the United States Securities and Exchange Commission, or any successor
thereto.

     “Securities Act” means the United States Securities Act of 1933, as amended, and all
rules and regulations promulgated thereunder.

     “Self-Regulatory Organization” means FINRA, any United States or non-United States
securities exchange, commodities exchange, registered securities association, the Municipal
Securities Rulemaking Board, National Futures Association, and any other board or body, whether
United States or non-United States, that regulates brokers, dealers, commodity pool operators,
commodity trading advisors, or future commission merchants.

     1.2 Table of Definitions. The following terms have the meanings set forth in the
Sections set forth below:

	 	 	 	 	 
	Term	 	Section
	 
	 	 	 	 
	Agreement

	 	Preamble

	Closing Date

	 	Recitals

	Company

	 	Preamble

	Delaware Courts

	 	5.9
	Effective Date

	 	Recitals

	Indemnified Parties

	 	3.1
	Indemnified Party

	 	3.1
	Parties

	 	Preamble

	Party

	 	Preamble

3

 

	 	 	 	 	 
	Term	 	Section
	 
	 	 	 	 
	Sell-Down

	 	Recitals

	Sell-Down Shares

	 	Recitals

	Seller

	 	Recitals

	Seller Indemnified Parties

	 	3.1
	Seller Indemnified Party

	 	3.1
	Seller Parent

	 	Recitals

	Transaction Agreement

	 	Recitals

	Underwriters

	 	2.1(a)

ARTICLE II

REGISTRATION OF REGISTRABLE SECURITIES

     2.1 Registration. The Company shall use reasonable efforts to effect the registration
of all of the Registrable Securities of the Holders, as soon as reasonably practicable after
Closing, but in no event later than 5 days after the Closing Date, on such form of Registration
Statement and in such a manner as shall be necessary or desirable to enable the plan of
distribution of the Registrable Securities set forth in Exhibit A attached hereto selected
by the Company, the Seller Parent, and any underwriter participating in the offer and sale of
Registrable Securities. Without limiting the generality of the foregoing, the Company shall:

          (a) prepare and file with the SEC a Registration Statement with respect to such securities and
use reasonable efforts to cause such Registration Statement to become effective as soon as
reasonably practicable after Closing, but in no event later than 5 days after the Closing Date and
to remain effective for a period of time required for the disposition of all the Registrable
Securities required to be sold by the Holders thereof but not to exceed ninety (90) days; provided,
however, that before filing such Registration Statement or any amendments or supplements thereto,
the Company shall, if requested, furnish to counsel of Seller Parent (and, if applicable, each
underwriter or prospective underwriter selected by Seller Parent, to underwrite the Sell-Down of
the Sell-Down Shares (such underwriters and (prior to effectiveness of such Registration Statement,
prospective underwriters, are referred to herein as the “Underwriters”)) copies of all documents
proposed to be filed, which documents shall be subject to the review of such counsel, and shall in
good faith consider incorporating in each such document such changes as such counsel to Seller
Parent (and the Underwriters, as applicable) reasonably and in a timely manner may suggest;
provided, however, that the Company shall not have any obligation to so modify any information;

          (b) prepare and file with the SEC such amendments and supplements to such Registration
Statement and the prospectus used in connection therewith as may be necessary to keep such
Registration Statement effective and to comply with the provisions of the Securities Act with
respect to the sale or other disposition of all securities covered by such Registration Statement
until the earlier of such time as all of such securities have been disposed of in a public offering
or the expiration of ninety (90) days;

          (c) furnish to such Seller Parent (and the Underwriters, as applicable) such number of
conformed copies of the applicable Registration Statement and each such amendment and supplement
thereto (including in each case all exhibits), such number of copies of the prospectus contained in
such Registration Statement (including each preliminary prospectus and any summary prospectus) and
any other prospectus, in conformity with the requirements of the Securities Act, and such other
documents, as Seller Parent (or the Underwriters, as applicable) may reasonably request;

4

 

          (d) use reasonable efforts to register or qualify the Registrable Securities or other
securities covered by such Registration Statement under such other securities or blue sky laws of
such jurisdictions within the United States and its territories and possessions as Seller Parent
(or the Underwriters, as applicable) shall reasonably request, to keep such registration or
qualification in effect until all of the Registrable Securities are sold, and to take any other
action which may be reasonably necessary or advisable to enable the Holders to consummate the
disposition in such jurisdictions of the securities owned by such Holders (provided, however, that
the Company shall not be required in connection therewith or as a condition thereto to qualify to
do business as a foreign corporation, subject itself to taxation in or to file a general consent to
service of process in any jurisdiction where it would not, but for the requirements of this
paragraph (d), be obligated to do so) and do such other reasonable acts and things as may be
required of it to enable such Holders to consummate the disposition in such jurisdiction of the
securities covered by such Registration Statement;

          (e) use reasonable efforts to furnish, on the date that the shares of Registrable Securities
are delivered to the Underwriters for sale pursuant to such registration, (1) a signed opinion
(including disclosure statement), dated such date, of the independent legal counsel representing
the Company for the purpose of such registration, addressed to Underwriters, and (2) letters dated
such date and the date the offering is priced from the independent certified public accountants of
the Company, addressed to the Underwriters, in customary form and covering such matters of the kind
customarily covered by opinions or comfort letters, as the case may be, in such a transaction;

          (f) enter into customary agreements (including if the method of distribution is by means of an
underwriting, an underwriting agreement containing representations, warranties and indemnities in
customary form) and take such other actions as are reasonably required in order to expedite or
facilitate the disposition of such Registrable Securities;

          (g) otherwise use reasonable efforts to comply with all applicable rules and regulations
promulgated by the SEC;

          (h) use reasonable efforts to cause all such Registrable Securities to be listed on each
securities exchange or quotation system on which the Common Stock are listed or traded;

          (i) give written notice to Seller Parent (and the Underwriters):

               (i) when such Registration Statement, the prospectus or any amendment or supplement thereto
has been filed with the SEC and when such Registration Statement or any post-effective amendment
thereto has become effective;

               (ii) of any request by the SEC for amendments or supplements to such Registration Statement or
the prospectus included therein or for additional information;

               (iii) of the issuance by the SEC of any stop order suspending the effectiveness of such
Registration Statement or the initiation of any proceedings for that purpose;

               (iv) of the receipt by the Company or its legal counsel of any notification with respect to
the suspension of the qualification of the Common Stock for sale in any jurisdiction or the
initiation or threatening of any proceeding for such purpose; and

               (v) of the happening of any event that requires the Company to make changes in such
Registration Statement or such prospectus in order to make the statements therein, in

5

 

light of the circumstances in which they were made, not misleading (which notice shall be
accompanied by an instruction to suspend the use of such prospectus until the requisite changes
have been made);

          (j) use reasonable efforts to obtain the withdrawal of any order suspending the effectiveness
of such Registration Statement at the earliest possible time;

          (k) furnish to each Holder, without charge, at least one copy of such Registration Statement
and any post-effective amendment thereto, including financial statements and schedules, and, if the
Holder so requests in writing, all exhibits (including those, if any, incorporated by reference);

          (l) upon the occurrence of any event contemplated by Section 2.1(i)(v) above, promptly prepare
a post-effective amendment to such Registration Statement or a supplement to the related prospectus
or file any other required document so that, as thereafter delivered to the Holders, the prospectus
shall not contain an untrue statement of a material fact or omit to state any material fact
necessary to make the statements therein, in light of the circumstances under which they were made,
not misleading. If the Company notifies the Holders in accordance with Section 2.1(i)(v) above to
suspend the use of the prospectus until the requisite changes to the prospectus have been made,
then the Holders shall suspend use of such prospectus and use reasonable efforts to return to the
Company all copies of such prospectus other than permanent file copies then in such Holder’s
possession, and the period of effectiveness of such Registration Statement provided for above shall
be extended by the number of days from and including the date of the giving of such notice to the
date the Holders shall have received such amended or supplemented prospectus pursuant to this
Section 2.1(l);

          (m) subject to the execution of confidentiality agreements satisfactory in form and substance
to the Company, pursuant to the reasonable request of Seller Parent (or the Underwriters) , make
reasonably available for inspection by representatives of Seller Parent (or the Underwriters), and
any attorney, accountant or other agent retained by such representative or any such underwriter all
relevant financial and other records, pertinent corporate documents and properties of the Company
and its subsidiaries and cause the officers, directors and employees of the Company and its
subsidiaries to supply all relevant information reasonably requested by such representative or any
such underwriter, attorney, accountant or agent in connection with the registration provided that
any such information inspected or discussions conducted shall be done in a manner so as not to
unreasonably disrupt the operation of the Company’s business;

          (n) to the extent Seller Parent (or the Underwriters) determine that the failure to do so
would have a material adverse effect on such offering, make appropriate officers and senior
executives of the Company reasonably available to the Seller Parent (and the Underwriters) for
meetings with prospective purchasers of Registrable Securities and prepare and present to potential
investors customary “road show” material in each case in accordance with the recommendations of the
underwriters and in all respects in a manner reasonably requested and consistent with other new
issuances of securities in an offering of a similar size to such offering of the Registrable
Securities;

          (o) use reasonable efforts to procure the cooperation of the Company’s transfer agent in
settling any offering or sale of Registrable Securities, including with respect to the transfer of
physical stock certificates into book-entry form in accordance with any procedures reasonably
requested by the Holders or the underwriters, if any; and

          (p) cooperate with the Seller Parent and the Underwriters and do all things and actions
necessary or desirable to effect an ordered sell down on the Sell-Down Shares by Holders through
the Underwriters.

6

 

          It shall be a condition precedent to the obligation of the Company to take any action pursuant
to this Agreement in respect of the Registrable Securities which are to be that Seller Parent shall
furnish to the Company such information regarding the Registrable Securities and the intended
method of distribution thereof as the Company shall reasonably request and as shall be required in
connection with the action taken by the Company.

     2.2 Expenses. Except as otherwise agreed or set forth herein, all Registration
Expenses shall be paid by the Company, except that Seller Parent shall bear and pay all Excluded
Expenses.

ARTICLE III

INDEMNIFICATION

     3.1 Indemnification by the Company. The Company will, and it hereby does, indemnify
and hold harmless, to the extent permitted by law, each Holder of Registrable Securities covered by
the Registration Statement, each affiliate of such Holder and their respective trustees, directors,
and officers or general and limited partners (including any director, officer, affiliate, employee,
representative, agent, and controlling Person of any of the foregoing, within the meaning of
Section 15 of the Securities Act and Section 20 of the Exchange Act), each other Person who
participates as an Underwriter in the offering or sale of such securities and each other Person, if
any, who controls such seller or any such underwriter within the meaning of the Securities Act
(each, a “Seller Indemnified Party”, and collectively, the “Seller Indemnified
Parties”), against any and all Actions (whether or not an Indemnified Party is a party
thereto), losses, claims, damages, or liabilities, joint or several, and expenses (including,
without limitation, reasonable attorney’s fees and reasonable expenses of investigation) to which
such Indemnified Party becomes subject under the Securities Act, common law, or otherwise, insofar
as such losses, claims, damages, liabilities, or expenses (or actions or proceedings in respect
thereof, whether or not such Indemnified Party is a party thereto) arise out of, relate to, or are
based upon (a) any untrue statement or alleged untrue statement of any material fact contained in
any such registration statement, any preliminary, final, or supplemental prospectus contained
therein, or any amendment or supplement thereto or any issuer free-writing prospectus relating to
any sale or distribution pursuant thereto, or (b) any omission or alleged omission to state therein
a material fact required to be stated therein or necessary to make the statements therein (in the
case of a prospectus, in light of the circumstances under which they were made) not misleading, and
the Company will reimburse such Indemnified Party for any legal or any other expenses reasonably
incurred by such Indemnified Party in connection with investigating or defending against any such
loss, claim, liability, action, or proceeding; provided, that the Company shall not be
liable to any Indemnified Party in any such case to the extent that any such loss, claim, damage,
liability (or action or proceeding in respect thereof), or expense arises out of or is based upon
any untrue statement or alleged untrue statement or omission or alleged omission made in such
registration statement or amendment or supplement thereto or in any such preliminary, final, or
supplemental prospectus or issuer free-writing prospectus in reliance upon and in conformity with
written information furnished to the Company through an instrument duly executed by such seller
specifically stating that it is for use in the preparation thereof. Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of the Company or any of
the prospective sellers, or any of their respective affiliates, directors, officers, or controlling
Persons and shall survive the transfer of such securities by such seller.

     3.2 Indemnification by Underwriters. The Company may require, as a condition to including
any Registrable Securities in any registration statement to which Article II applies, that the
Company shall have received an undertaking reasonably satisfactory to it from each Underwriter to
indemnify and hold harmless (in the same manner and to the same extent as set forth in Section 3.1)
the Company, its directors, officers, affiliates, employees, representatives, agents, and
controlling Persons (each, a “Company Indemnified Party”, and collectively, the
“Company Indemnified Parties,” and

7

 

together with the Seller Indemnified Parties, the “Indemnified Parties” and each
individually an “Indemnified Party”) with respect to any untrue statement or alleged untrue
statement in or omission or alleged omission from such registration statement, any preliminary,
final or supplemental prospectus contained therein, or any amendment or supplement, if such untrue
statement or alleged untrue statement or omission or alleged omission was made in reliance upon and
in conformity with written information furnished to the Company through an instrument duly executed
by such Underwriter specifically stating that it is for use in the preparation of such registration
statement, preliminary, final, or supplemental prospectus or amendment or supplement, or a document
incorporated by reference into any of the foregoing; provided, however, that the indemnity
agreement contained in this Section 3.2 shall not apply to amounts paid in settlement of any such
loss, claim, damage, liability or action if such settlement is effected without the consent of such
Underwriter (which consent shall not be unreasonably withheld or delayed). Such indemnity shall
remain in full force and effect regardless of any investigation made by or on behalf of the Company
or such Underwriter, or any of their respective affiliates, directors, officers, or controlling
Persons and shall survive the transfer of such securities by the Seller Parent and such
Underwriter.

     3.3 Notices of Claims, Etc. Promptly after receipt by an Indemnified Party hereunder
of written notice of the commencement of any Action with respect to which a claim for
indemnification may be sought pursuant to this Article III, such Indemnified Party will, if a claim
in respect thereof is to be made against an indemnifying party, give prompt written notice to the
latter of the commencement of such Action; provided that the failure of the Indemnified
Party to give prompt notice as provided herein (i) shall not relieve the indemnifying party of its
obligations under this Article III, except to the extent that the indemnifying party is materially
prejudiced by such failure to give prompt notice, and (ii) shall not, in any event, relieve the
indemnifying party from any obligations which it may otherwise have to any Indemnified Party in
addition to any indemnification obligation provided in Sections 3.1 and 3.2. In case any such
Action is brought against an Indemnified Party, unless in such Indemnified Party’s reasonable
judgment a conflict of interest between such Indemnified Party and indemnifying parties may exist
in respect of such Action, the indemnifying party will be entitled to participate in and to assume
the defense thereof (at its expense), jointly with any other indemnifying party similarly notified
to the extent that it may wish, with counsel reasonably satisfactory to such Indemnified Party, and
after notice from the indemnifying party to such Indemnified Party of its election so to assume the
defense thereof, the indemnifying party will not be liable to such Indemnified Party for any legal
or other expenses subsequently incurred by the latter in connection with the defense thereof other
than reasonable costs of investigation. No indemnifying party will consent to entry of any
judgment or settle any Action which (i) does not include, as an unconditional term thereof, the
giving by the claimant or plaintiff to such Indemnified Party of a release from all liability in
respect of such Action, and (ii) does not involve the imposition of equitable remedies or of any
obligations on such Indemnified Party and does not otherwise adversely affect such Indemnified
Party, other than as a result of the imposition of financial obligations for such Indemnified Party
will be indemnified hereunder.

     3.4 Contribution.

          (a) If the indemnification provided for in this Article III from the indemnifying party is
unavailable to or insufficient to fully hold harmless an Indemnified Party hereunder in respect of
any Action, losses, damages, liabilities, or expenses referred to herein, then the indemnifying
party, in lieu of indemnifying such Indemnified Party, shall contribute to the amount paid or
payable by such Indemnified Party as a result of such Action, losses, damages, liabilities, or
expenses in such proportion as is appropriate to reflect the relative fault of the indemnifying
party and such Indemnified Party in connection with the actions which resulted in such Action
losses, damages, liabilities, or expenses, as well as any other relevant equitable considerations.
The relative fault of such indemnifying party and such Indemnified Party shall be determined by
reference to, among other things, whether any action in

8

 

question, including any untrue or alleged untrue statement of a material fact or omission or
alleged omission to state a material fact, has been made by, or relates to information supplied by,
such indemnifying party or Indemnified Parties, and the parties’ relative intent, knowledge, access
to information, and opportunity to correct or prevent such action. The amount paid or payable by a
party under this Section 3.4 as a result of the Action, losses, damages, liabilities, and expenses
referred to above shall be deemed to include any legal or other fees or expenses reasonably
incurred by such party in connection with any investigation or proceeding.

          (b) The parties hereto agree that it would not be just and equitable if contribution pursuant
to this Section 3.3 were determined by pro rata allocation or by any other method of allocation
which does not take account of the equitable considerations referred to in Section 3.3(a) hereof.
No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any Person who was not guilty of such
fraudulent misrepresentation.

     3.5 Other Indemnification. Indemnification similar to that specified in the preceding
provisions of this Article III (with appropriate modifications) shall be given by the Company, on
the one hand, and any Underwriters, on the other hand, with respect to any required registration or
other qualification of securities under any federal or state law or regulation or governmental
authority other than the Securities Act.

     3.6 Non-Exclusivity. The obligations of the Parties under this Article III shall be in
addition to any liability which any Party may otherwise have to any other Party.

ARTICLE IV

SELECTION OF UNDERWRITERS

     4.1 Selection of Underwriters. The Underwriters, if selected, shall be selected by the
Company, subject to consultation with and the approval of the Holders, which approval shall not be
unreasonably withheld or delayed. In that event, (i) all of the representations and warranties by,
and the other agreements on the part of, the Company to and for the benefit of such Underwriters
shall also be made to and for the benefit of Seller Parent and the Holders of Registrable
Securities, (ii) that any or all of the conditions precedent to the obligations of such
Underwriters under such underwriting agreement shall be conditions precedent to the obligations of
Seller Parent and the Holders of Registrable Securities, and (iii) that no Holder shall be required
to make any representations or warranties to or agreements with the Company or the Underwriters
other than representations, warranties or agreements regarding such Holder, the Registrable
Securities of such Holder and any other representations customarily required or required by law.
Subject to the foregoing, all Holders proposing to distribute Registrable Securities through such
underwritten offering shall enter into an underwriting agreement in customary form with the
Underwriter or Underwriters, including representations, warranties, covenants and indemnification
customarily received by “bulge-bracket” New York based investment banks in New York law
Underwriting Agreements for U.S. registered offerings of common shares.

ARTICLE V

MISCELLANEOUS

     5.1 Termination. The registration rights set forth in this Agreement will terminate upon
the earliest to occur of the date upon which there shall be no Registrable Securities as described
in the definition of Registrable Securities.

9

 

     5.2 Amendments; Waivers.

          (a) No failure or delay on the part of any Party in exercising any right, power, or privilege
hereunder will operate as a waiver thereof, nor will any single or partial exercise thereof
preclude any other or further exercise thereof or the exercise of any other right, power, or
privilege.

          (b) Any provision of this Agreement may be amended or waived if, but only if, such amendment
or waiver is in writing and signed by all Parties.

     5.3 Successors and Assigns.

          (a) All the terms and provisions of this Agreement shall be binding upon and inure to the
benefit of and be enforceable by the Parties and the successors and assigns of each Party, whether
so expressed or not. None of the Parties may assign any of its rights or obligations hereunder, in
whole or in part, by operation of law or otherwise, without the prior written consent of the other
Parties, and any such assignment without such prior written consent shall be null and void;
provided, however, that all or any portion of the rights of each Holder under this
Agreement are transferable to each transferee of such Holder to whom the transferor transfers
Registrable Securities and each transferee of such Holder agrees to be bound by and to perform all
of the terms and provisions required by this Agreement.

     5.4 Notices. All notices and communications hereunder shall be deemed to have been
duly given and made if in writing and if served by personal delivery upon the party for whom it is
intended, or if delivered by registered or certified mail, return receipt requested, or if sent by
telecopier or email in each case, to the Person at the address set forth below, or such other
address as may be designated in writing hereafter, in the same manner, by such Person:

	 	(a)	 	if to the Company, to:
	 
	 	 	 	TTM Technologies, Inc.

2630 South Harbor Blvd.

Santa Ana, California 92704

Telephone: (714) 327-3048

Facsimile: (714) 432-7234

Email: kalder@ttmtech.com

Attention: Kent Alder
	 
	 	 	 	with a copy (which shall not constitute notice) to:
	 
	 	 	 	Greenberg Traurig, LLP

2375 East Camelback Road

Suite 700

Phoenix, Arizona 85016

Telephone: (602) 445-8000

Facsimile: (602) 445-8100

E-mail: kaplanm@gtlaw.com

Attention: Michael L. Kaplan, Esq.

10

 

	 	(b)	 	if to the Seller Parent, Seller or Holder, to:
	 
	 	 	 	Meadville Holdings Limited

No. 4 Dai Shun Street,

Tai Po Industrial Estate,

Tai Po, New Territories,

Hong Kong

Telephone: +852-2660-3120

Facsimile: +852-2660-1908

E-mail: canice.chung@meadvillegroup.com

Attention: Canice Chung
	 
	 	 	 	With copies (which shall not constitute notice) to:
	 
	 	 	 	Telephone: +852-2660-1978

Facsimile: +852-2660-1908

E-mail: tom.tang@meadvillegroup.com

             mai.tang@meadvillegroup.com

Attention: Mr. Tang Chung Yen, Tom

                    Ms. Tang Ying Ming, Mai
	 
	 	 	 	Skadden, Arps, Slate, Meagher & Flom

42/F, Edinburgh Tower, The Landmark

15 Queen’s Road Central

Hong Kong

Telephone: +852-3740-4700

Facsimile: +852-3740-4727

E-mail: Jonathan.stone@skadden.com

Attention: Jonathan Stone

The failure to provide notice in accordance with the required timing, if any, set forth herein
shall affect the rights of the party providing such notice only to the extent that such delay
actually prejudices the rights of the party receiving such notice.

     5.5 Headings. The headings in this Agreement are for convenience of reference only and
will not control or affect the meaning or construction of any provisions hereof.

     5.6 Severability. The provisions of this Agreement shall be deemed severable and the
invalidity or unenforceability of any provision shall not affect the validity or enforceability of
the other provisions hereof. If any provision of this Agreement, or the application thereof to any
Person or any circumstance, is invalid or unenforceable, (a) a suitable and equitable provision
shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the
intent and purpose of such invalid or unenforceable provision and (b) the remainder of this
Agreement and the application of such provision to other Persons or circumstances shall not be
affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability
affect the validity or enforceability of such provision, or the application thereof, in any other
jurisdiction.

     5.7 Counterparts. This Agreement may be executed in any number of counterparts
(including by facsimile), each of which will be an original with the same effect as if the
signatures thereto and hereto were upon the same instrument.

11

 

     5.8 Entire Agreement. This Agreement, together with the agreements referred to herein, is
intended by the parties to be a complete and exclusive statement of the agreement and understanding
of the parties hereto in respect of the subject matter contained herein and the registration rights
granted by the Company with respect to the Registrable Securities. This Agreement supersedes all
prior agreements and undertakings among the parties with respect to such registration rights.

     5.9 Governing Law; Consent to Jurisdiction; Waiver of Trial by Jury.

     (a) THIS AGREEMENT, THE LEGAL RELATIONSHIP BETWEEN THE PARTIES AND THE ADJUDICATION AND THE
ENFORCEMENT HEREOF AND THEREOF, SHALL BE GOVERNED BY AND INTERPRETED AND CONSTRUED IN ACCORDANCE
WITH THE INTERNAL, SUBSTANTIVE AND PROCEDURAL LAWS OF THE STATE OF DELAWARE APPLICABLE TO
AGREEMENTS MADE AND TO BE PERFORMED WHOLLY WITHIN THAT JURISDICTION, WITHOUT GIVING EFFECT TO THE
CONFLICTS OF LAW RULES AND PRINCIPLES THEREOF.

          (b) Each Party to this Agreement, by its execution hereof, hereby:

               (i) irrevocably and unconditionally submits to the exclusive jurisdiction in the Court of
Chancery of the State of Delaware or any court of the United States located in the State of
Delaware, for the purpose of any and all actions, suits or proceedings arising in whole or in part
out of, related to, based upon or in connection with this Agreement or the subject matter hereof;

               (ii) waives to the extent not prohibited by applicable law, and agrees not to assert, by way
of motion, as a defense or otherwise, in any such action, any claim that it is not subject
personally to the jurisdiction of the above-named courts, that its property is exempt or immune
from attachment or execution, that any such action brought in one of the above-named courts should
be dismissed on grounds of forum non conveniens, should be transferred to any court other than one
of the above-named courts, or should be stayed by reason of the pendency of some other proceeding
in any other court other than one of the above-named courts, or that this Agreement or the subject
matter hereof may not be enforced in or by such court, and

               (iii) agrees not to commence any such action other than before one of the above-named courts
nor to make any motion or take any other action seeking or intending to cause the transfer or
removal of any such action to any court other than one of the above-named courts whether on the
grounds of forum non conveniens or otherwise.

          (c) The Seller Parent and Seller hereby irrevocably and unconditionally designate, appoint,
and empower The Corporation Trust Company, Corporation Trust Center, 1209 Orange Street,
Wilmington, Delaware 19801, as their respective designee, appointee, and agent to receive, accept
and acknowledge for and on their behalf service of any and all legal process, summons, notices, and
documents that may be served in any action, suit, or proceeding brought against Seller Parent or
Seller, as applicable,, in any such United States federal or state court with respect to their
obligations, liabilities, or any other matter arising out of or in connection with this Agreement
and that may be made on such designee, appointee, and agent in accordance with legal procedures
prescribed for such courts. If for any reason such designee, appointee, and agent hereunder shall
cease to be available to act as such, Seller Parent and Seller each hereby agree to designate a new
designee, appointee, and agent in the State of Delaware on the terms and for the purposes of this
Section 5.9 reasonably satisfactory to the Company. Each of Seller Parent and Seller further
hereby irrevocably consent and agree to the service of any and all legal process, summons, notices,
and documents in any such action, suit or proceeding against Seller Parent and Seller by serving a
copy thereof upon the relevant agent for service of process referred to in

12

 

this Section 5.9 (whether or not the appointment of such agent shall for any reason prove to
be ineffective or such agent shall accept or acknowledge such service) or by sending copies thereof
by a recognized next day courier service to Seller Parent and Seller, as applicable, at their
address specified in or designated pursuant to this Agreement. Each of Seller Parent and Seller
agree that the failure of any such designee, appointee and agent to give any notice of such service
to them shall not impair or affect in any way the validity of such service or any judgment rendered
in any action or proceeding based thereon.

          (d) EACH OF THE PARTIES TO THIS AGREEMENT HEREBY IRREVOCABLY WAIVES ALL RIGHT TO A TRIAL BY
JURY IN ANY ACTION UNDER THIS SECTION 5.9. THE PARTIES HERETO AGREE THAT ANY OR ALL OF THEM MAY
FILE A COPY OF THIS PARAGRAPH WITH ANY COURT AS WRITTEN EVIDENCE OF THE KNOWING, VOLUNTARY, AND
BARGAINED-FOR AGREEMENT AMONG THE PARTIES IRREVOCABLY TO WAIVE TRIAL BY JURY AND THAT ANY COURT
ACTION OR PROCEEDING WHATSOEVER BETWEEN THEM THAT IS PERMITTED UNDER THIS SECTION 5.9 SHALL INSTEAD
BE TRIED IN A DELAWARE COURT BY A JUDGE SITTING WITHOUT A JURY.

     5.10 Specific Performance; Injunctive Relief. The parties hereby acknowledge and agree
that the failure of any Party to perform its agreements and covenants hereunder, including its
failure to take all actions as are necessary on its part to the consummation of the transactions
contemplated hereby, will cause irreparable injury to the other Parties, for which damages, even if
available, will not be an adequate remedy. Accordingly, each Party hereby consents to the issuance
of injunctive relief by any court of competent jurisdiction to compel performance of such Party’s
obligations, to prevent breaches of this Agreement by such Party and to the granting by any court
of the remedy of specific performance of such Party’s obligations hereunder, without bond or other
security being required, in addition to any other remedy to which any Party is entitled at law or
in equity. Each Party irrevocably waives any defenses based on adequacy of any other remedy,
whether at law or in equity, that might be asserted as a bar to the remedy of specific performance
of any of the terms or provisions hereof or injunctive relief in any action brought therefor by any
Party.

     5.11 Interpretation.

          (a) The words “hereof,” “herein,” and “herewith” and words of similar import shall, unless
otherwise stated, be construed to refer to this Agreement as a whole and not to any particular
provision of this Agreement, and article, section, paragraph, exhibit, and schedule references are
to the articles, sections, paragraphs, exhibits, and schedules of this Agreement unless otherwise
specified. Whenever the words “include,” “includes,” or “including” are used in this Agreement,
they shall be deemed to be followed by the words “without limitation.” All terms defined in this
Agreement shall have the defined meanings contained herein when used in any certificate or other
document made or delivered pursuant hereto unless otherwise defined therein. The definitions
contained in this Agreement are applicable to the singular as well as the plural forms of such
terms and to the masculine as well as to the feminine and neuter genders of such terms. In this
Agreement, all references to “$” are to United States dollars. Any agreement, instrument,
or statute defined or referred to herein or in any agreement or instrument that is referred to
herein means such agreement, instrument, or statute as from time to time, amended, qualified, or
supplemented, including (in the case of agreements and instruments) by waiver or consent and (in
the case of statutes) by succession of comparable successor statutes and all attachments thereto
and instruments incorporated therein. References to a Person are also to its permitted successors
and assigns.

          (b) The Parties have participated jointly in the negotiation and drafting of this Agreement.
In the event an ambiguity or question of intent or interpretation arises, this Agreement shall

13

 

be construed as if drafted jointly by the Parties and no presumption or burden of proof shall
arise favoring or disfavoring any Party by virtue of the authorship of any provisions of this
Agreement.

[Signature pages follow.]

14

 

     IN WITNESS WHEREOF, each of the undersigned has executed this Agreement or caused this
Agreement to be duly executed on its behalf as of the date first written above.

	 	 	 	 	 
	 	TTM TECHNOLOGIES, INC.

 	 
	 	By:  	/s/ KENTON K. ALDER
	 
	 	 	Name:  	Kenton K. Alder 	 
	 	 	Title:  	Chief Executive Officer and President 	 
	 
	 	MEADVILLE HOLDINGS LIMITED

 	 
	 	By:  	/s/
TANG CHUNG YEN, TOM	 
	 	 	Name:  	Tang Chung Yen, Tom	 
	 	 	Title:  	Director	 
	 
	 	MTG INVESTMENT (BVI) LIMITED

 	 
	 	By:  	CHUNG
TAI KEUNG, CANICE	 
	 	 	Name:  	Chung Tai Keung, Canice	 
	 	 	Title:  	Director	 
	 

15

 

Exhibit A

PLAN OF DISTRIBUTION

The TTM Shares issued to Meadville in the PCB Combination may be, subject to the election of the
holders of Meadville shares, (i) distributed by Meadville to holders of Meadville shares or (ii)
sold by Meadville or purchasers, transferees, donees, pledgees or other successors in interest,
directly or through brokers, dealers, agents or underwriters who may receive compensation in the
form of discounts, commissions or similar selling expenses paid by us, by Meadville or its
affiliates, or by a purchaser of the TTM shares on whose behalf such broker-dealer may act as
agent. Sales and transfers of the TTM shares may be effected from time to time in one or more
transactions, in private or public transactions, on the Nasdaq Global Market, in the
over-the-counter market, in negotiated transactions or otherwise, at a fixed price or prices that
may be changed, at market prices prevailing at the time of sale, at negotiated prices, without
consideration or by any other legally available means. Any or all of the TTM shares may be sold
from time to time by means of:

	•	 	a sale to one or more underwriters for resale to the public or to institutional investors
in one or more transactions;
	 
	•	 	a block trade, in which Meadville or a broker or dealer attempts to sell the TTM shares as
agent but may position and resell a portion of the TTM shares as principal to facilitate the
transaction;
	 
	•	 	purchases by a broker or dealer as principal and the subsequent sale by such broker or
dealer for its account pursuant to this prospectus;
	 
	•	 	ordinary brokerage transactions (which may include long or short sales) and transactions in
which the broker solicits purchasers;
	 
	•	 	the writing (sale) of put or call options on the TTM shares;
	 
	•	 	the pledging of the TTM Shares as collateral to secure loans, credit or other financing
arrangements and subsequent foreclosure, the disposition of the TTM shares by the lender
thereunder;
	 
	•	 	an exchange distribution in accordance with the rules of the applicable stock exchange;
	 
	•	 	privately negotiated transactions;
	 
	•	 	settlement of short sales entered into after the date of this prospectus;
	 
	•	 	a combination of any such methods of sale; and
	 
	•	 	any other legally available means.

Meadville and any broker-dealers who participate in the distribution of the TTM shares may be
deemed to be “underwriters” within the meaning of Section 2(11) of the Securities Act and any
discounts, commissions or similar selling expenses they receive and any profit on the TTM shares
acquired by them may be deemed to be underwriting commissions or discounts under the Securities
Act.

The TTM shares covered by this prospectus may become qualified for sale under Section 4(1) of the
Securities Act or Rules 144 or 145 promulgated thereunder, whereupon they may be sold pursuant to
such provisions rather than pursuant to this prospectus.

A-1

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