Document:

EXHIBIT 10.2

                       ASSIGNMENT AND ASSUMPTION AGREEMENT

      ASSIGNMENT  AND  ASSUMPTION  AGREEMENT,  dated  as of  [_______],  20-[_],
between Residential  Funding Company,  LLC, a Delaware limited liability company
("RFC") and Residential  Asset Securities  Corporation,  a Delaware  corporation
(the "Company").

                                    Recitals

      A. RFC has entered into seller contracts ("Seller Contracts") with certain
sellers and servicers.

      B. The Company  wishes to purchase  from RFC  certain  Mortgage  Loans (as
hereinafter defined) originated pursuant to the Seller Contracts.

      C. The Company, RFC, as master servicer,  and [_____________],  as trustee
(the "Trustee"), are entering into a Pooling and Servicing Agreement dated as of
[________] 1, 20[_] (the "Pooling and Servicing  Agreement"),  pursuant to which
the Trust  proposes  to issue Home  Equity  Mortgage  Asset-Backed  Pass-Through
Certificates,  Series 20[_]-[__] (the "Certificates")  consisting of [seventeen]
classes  designated as Class [A-1], Class [A-2], Class [A-3], Class [M-1], Class
[M-2],  Class [M-3],  Class [M-4],  Class [M-5], Class [M-6], Class [M-7], Class
[M-8],  Class [M-9], Class [B-1], Class [B-2], Class [SB], Class [R-I] and Class
[R-II]  representing  beneficial  ownership  interests  solely  in a trust  fund
consisting  primarily of a pool of adjustable and fixed rate one-to  four-family
first lien mortgage  loans  identified on Exhibit F to the Pooling and Servicing
Agreement (the "Mortgage Loans").

      D. In connection with the purchase of the Mortgage Loans, the Company will
assign to RFC the  Class  [R-I] and Class  [R-II]  Certificates  (the  "Retained
Certificates").

      E. In connection  with the purchase of the Mortgage Loans and the issuance
of the Certificates,  RFC wishes to make certain  representations and warranties
to the Company.

      F. The Company and RFC intend that the conveyance by RFC to the Company of
all its right,  title and interest in and to the Mortgage Loans pursuant to this
Agreement shall constitute a purchase and sale and not a loan.

      NOW THEREFORE,  in  consideration  of the recitals and the mutual promises
herein and other good and valuable consideration, the parties agree as follows:

      1. All  capitalized  terms  used but not  defined  herein  shall  have the
meanings assigned thereto in the Pooling and Servicing Agreement.

      2. Concurrently with the execution and delivery hereof, RFC hereby assigns
to the Company without  recourse all of its right,  title and interest in and to
the Mortgage  Loans,  including all interest and  principal  received on or with
respect to the  Mortgage  Loans after the Cut-off  Date (other than  payments of
principal  and interest due on the Mortgage  Loans in  [_________],  20[_]).  In
consideration  of such  assignment,  RFC  will  receive  from  the  Company,  in
immediately  available  funds,  an amount equal to  $[_______]  and the Retained
Certificates. In

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connection  with such  assignment  and at the  Company's  direction,  RFC has in
respect of each Mortgage Loan endorsed the related Mortgage Note (other than any
Destroyed  Mortgage Note,  hereinafter  defined) to the order of the Trustee and
delivered an  assignment  of mortgage in  recordable  form to the Trustee or its
agent.  A "Destroyed  Mortgage Note" means a Mortgage Note the original of which
was permanently lost or destroyed.

      The Company and RFC intend  that the  conveyance  by RFC to the Company of
all its right,  title and interest in and to the Mortgage Loans pursuant to this
Section 2 shall be, and be construed as, a sale of the Mortgage  Loans by RFC to
the Company. It is, further, not intended that such conveyance be deemed to be a
pledge of the  Mortgage  Loans by RFC to the  Company  to secure a debt or other
obligation of RFC.  Nonetheless  (a) this Agreement is intended to be and hereby
is deemed to be a security  agreement  within the meaning of Articles 8 and 9 of
the Minnesota  Uniform  Commercial  Code and the Uniform  Commercial Code of any
other applicable  jurisdiction;  (b) the conveyance provided for in this Section
shall be deemed to be a grant by RFC to the  Company of a security  interest  in
all of RFC's right  (including  the power to convey  title  thereto),  title and
interest,  whether now owned or hereafter  acquired,  in and to (A) the Mortgage
Loans,  including  the Mortgage  Notes,  the  Mortgages,  any related  insurance
policies and all other documents in the related  Mortgage Files, (B) all amounts
payable  pursuant to the Mortgage Loans in accordance with the terms thereof and
(C) any and all general  intangibles  consisting of, arising from or relating to
any  of  the  foregoing,  and  all  proceeds  of the  conversion,  voluntary  or
involuntary,  of the  foregoing  into  cash,  instruments,  securities  or other
property,  including,  without limitation, all amounts from time to time held or
invested in the  Certificate  Account or the Custodial  Account,  whether in the
form of cash,  instruments,  securities or other property; (c) the possession by
the Trustee,  the Custodian or any other agent of the Trustee of Mortgage  Notes
or such other  items of  property  as  constitute  instruments,  money,  payment
intangibles,  negotiable documents,  goods, deposit accounts, letters of credit,
advices of credit, investment property, certificated securities or chattel paper
shall be deemed to be  "possession  by the secured  party," or  possession  by a
purchaser  or a  person  designated  by such  secured  party,  for  purposes  of
perfecting the security interest  pursuant to the Minnesota  Uniform  Commercial
Code  and the  Uniform  Commercial  Code of any  other  applicable  jurisdiction
(including without limitation, Sections 8-106, 9-313 and 9-106 thereof); and (d)
notifications to persons holding such property, and acknowledgments, receipts or
confirmations from persons holding such property,  shall be deemed notifications
to,   or   acknowledgments,    receipts   or   confirmations   from,   financial
intermediaries, bailees or agents (as applicable) of the Trustee for the purpose
of perfecting  such security  interest under  applicable  law. RFC shall, to the
extent  consistent with this Agreement,  take such reasonable  actions as may be
necessary to ensure  that,  if this  Agreement  were deemed to create a security
interest in the Mortgage  Loans and the other  property  described  above,  such
security  interest would be deemed to be a perfected  security interest of first
priority under applicable law and will be maintained as such throughout the term
of this Agreement.  Without limiting the generality of the foregoing,  RFC shall
prepare  and  deliver to the  Company  not less than 15 days prior to any filing
date, and the Company shall file, or shall cause to be filed,  at the expense of
RFC, all filings necessary to maintain the effectiveness of any original filings
necessary under the Uniform  Commercial Code as in effect in any jurisdiction to
perfect  the  Company's  security  interest  in or  lien on the  Mortgage  Loans
including  without  limitation (x) continuation  statements,  and (y) such other
statements as may be occasioned by (1) any change of name of RFC or the Company,
(2) any

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change of  location  of the state of  formation,  place of business or the chief
executive  office of RFC,  or (3) any  transfer  of any  interest  of RFC in any
Mortgage Loan.

      3. Concurrently with the execution and delivery hereof, the Company hereby
assigns to RFC without  recourse all of its right,  title and interest in and to
the Retained  Certificates  as part of the  consideration  payable to RFC by the
Company pursuant to this Agreement.

      4. RFC  represents  and  warrants  to the  Company,  with  respect to each
Mortgage Loan that on the date of execution  hereof (or, if otherwise  specified
below, as of the date so specified),

            (i)  Immediately  prior to the delivery of the Mortgage Loans to the
      Company,  RFC had good title to, and was the sole owner of, each  Mortgage
      Loan free and clear of any pledge,  lien or security  interest (other than
      (a) rights to servicing and related compensation,  and (b) any senior lien
      relating  to a Mortgage  Loan  listed on  Schedule A attached  hereto (the
      "Junior Lien Mortgage Loans") and had full right and authority to sell and
      assign the Mortgage Loans pursuant to this Agreement.

            (ii) The  proceeds of the Mortgage  Loan have been fully  disbursed,
      there is no  requirement  for future  advances  thereunder and any and all
      requirements as to completion of any on-site or off-site  improvements and
      as to  disbursements  of any escrow funds  therefor  (including any escrow
      funds  held  to  make  Monthly   Payments   pending   completion  of  such
      improvements)  have been  complied  with.  All  costs,  fees and  expenses
      incurred in making, closing or recording the Mortgage Loans were paid.

            (iii) The Mortgagor  (including any party  secondarily  liable under
      the Mortgage File) has no right of set-off, defense, counterclaim or right
      of  rescission  as to any document in the  Mortgage  File except as may be
      provided under the Relief Act.

            (iv) RFC and any other originator,  servicer or other previous owner
      of  each  Mortgage  Loan  has  obtained  all  licenses  and  effected  all
      registrations required under all applicable local, state and federal laws,
      regulations and orders,  including without limitation truth in lending and
      disclosure  laws,  necessary to own or originate  the Mortgage  Loans (the
      failure to obtain such  licenses or to comply with such laws,  regulations
      and orders would make such Mortgage Loans void or voidable).

            (v) A policy of title  insurance,  in the form and amount that is in
      material  compliance  with the  Program  Guide,  was  effective  as of the
      closing of each Mortgage  Loan, is valid and binding,  and remains in full
      force and effect except for Mortgaged  Properties  located in the State of
      Iowa where an attorney's  certificate has been provided in accordance with
      the Program  Guide.  No claims  have been made under such title  insurance
      policy and no holder of the related  mortgage,  including RFC, has done or
      omitted to do  anything  which  would  impair the  coverage  of such title
      insurance policy.

            (vi) Each Mortgage Loan is a valid and enforceable first lien (or in
      the case of the Junior Lien Mortgage Loans,  junior lien) on the Mortgaged
      Property  subject  only to (1)  the  lien of  nondelinquent  current  real
      property   taxes  and   assessments,   (2)   covenants,   conditions   and
      restrictions,  rights of way, easements and other matters of public record
      as of the date of

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      recording  of such  Mortgage,  such  exceptions  appearing of record being
      acceptable  to mortgage  lending  institutions  generally or  specifically
      reflected in the appraisal made in connection  with the origination of the
      related  Mortgage Loan, and (3) other matters to which like properties are
      commonly subject that do not materially interfere with the benefits of the
      security intended to be provided by such Mortgage.

            (vii) All  improvements  which were  considered in  determining  the
      Appraised Value of the Mortgaged Property lie wholly within the boundaries
      and the  building  restriction  lines of the  Mortgaged  Premises,  or the
      policy of title insurance  affirmatively insures against loss or damage by
      reason of any violation,  variation,  encroachment or adverse circumstance
      that  either is  disclosed  or would have been  disclosed  by an  accurate
      survey.

            (viii) There are no delinquent  tax or delinquent  assessment  liens
      against the related Mortgaged Property,  and there are no mechanic's liens
      or claims for work,  labor or material or any other liens  affecting  such
      Mortgaged Property which are or may be a lien prior to, or equal with, the
      lien of the Mortgage  assigned to RFC, except those liens that are insured
      against by the policy of title insurance and described in (v) above.

            (ix) Each  Mortgaged  Property is free of material  damage and is in
      good  repair and no notice of  condemnation  has been  given with  respect
      thereto.

            (x) The improvements upon the Mortgaged Property are insured against
      loss by fire and other hazards as required by the Program Guide, including
      flood  insurance if required  under the National  Flood  Insurance  Act of
      1968,  as amended.  The Mortgage  requires the  Mortgagor to maintain such
      casualty  insurance at the  Mortgagor's  expense,  and on the  Mortgagor's
      failure  to do so,  authorizes  the holder of the  Mortgage  to obtain and
      maintain  such   insurance  at  the   Mortgagor's   expense  and  to  seek
      reimbursement therefore from the Mortgagor.

            (xi) The  appraisal  was made by an appraiser  who meets the minimum
      qualifications for appraisers as specified in the Program Guide.

            (xii) Each Mortgage Note and Mortgage constitutes a legal, valid and
      binding  obligation of the Mortgagor  enforceable  in accordance  with its
      terms except as limited by  bankruptcy,  insolvency  or other similar laws
      affecting generally the enforcement of creditors' rights.

            (xiii) Each Mortgage Loan is covered by a standard hazard  insurance
      policy.

            (xiv) The  information  set forth on the Mortgage Loan Schedule with
      respect to each Mortgage Loan is true and correct in all material respects
      as of the date or dates which such information is furnished.

            (xv)  As of the  Cut-off  Date,  [_]%  of  the  Mortgage  Loans  are
      Delinquent  in payment of principal  or interest by [_] days or more.  For
      the  purposes  of  this  representation  a  Mortgage  Loan  is  considered
      Delinquent if a Subservicer  or the Master  Servicer has made any advances
      on the Mortgage Loan that have not been  reimbursed out of payments by the
      mortgagor  or on  the  mortgagor's  behalf  from  a  source  other  than a
      Subservicer,  a Seller,  the Master  Servicer or an  affiliated  entity of
      either.

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            (xvi) [None] of the Mortgage  Loans with  Loan-to-Value  Ratios,  or
      combined  Loan-to-Value  Ratios  with  respect to Junior  Lien  Loans,  at
      origination  in  excess of 80% are  insured  by a  borrower-paid,  primary
      mortgage insurance policy.

            (xvii) The weighted average  Loan-to-Value Ratio with respect to the
      Mortgage  Loans,  by  outstanding  principal  balance at  origination,  is
      [___]%.

            (xviii) No more than  approximately  [_]% of the Mortgage  Loans, by
      outstanding  principal  balance as of the Cut-off Date, are located in any
      one zip code area in  [_______].  No more than  approximately  [_]% of the
      Mortgage Loans by outstanding principal balance as of the Cut-off Date are
      located in any one zip code area outside of [_______].

            (xix) [__]% of the  Mortgage  Loans that are  adjustable-rate  loans
      will  adjust  semi-annually  based  on  Six-Month  LIBOR,  and [_]% of the
      Mortgage Loans that are  adjustable-rate  loans will adjust annually based
      on a One-Year LIBOR.  Each of the Mortgage Loans that are  adjustable-rate
      loans will adjust on the Adjustment Date specified in the related Mortgage
      Note to a rate  equal to the sum  (rounded  as  described  in the  related
      Mortgage Note) of the related Index described in the Prospectus Supplement
      and the Note Margin set forth in the related Mortgage Note, subject to the
      limitations described in the Prospectus Supplement, and each Mortgage Loan
      has an original  term to maturity from the date on which the first monthly
      payment is due of not more than approximately 30 years. On each Adjustment
      Date,  the Mortgage Rate on each Mortgage Loan that is an  adjustable-rate
      loan will be adjusted to equal the  related  Index plus the related  Gross
      Margin,  subject in each case to the Periodic  Rate Cap, the Mortgage Rate
      and the Minimum  Mortgage Rate. The amount of the monthly  payment on each
      Mortgage  Loan that is an  adjustable-rate  loan will be  adjusted  on the
      first day of the month  following the month in which the  Adjustment  Date
      occurs  to  equal  the   amount   necessary   to  pay   interest   at  the
      then-applicable  Mortgage Rate to fully amortize the outstanding principal
      balance of such Mortgage Loan over its remaining term to stated  maturity.
      No Mortgage Loan is subject to negative amortization.

            (xx) With respect to each Mortgage  constituting  a deed of trust, a
      trustee,  duly qualified  under  applicable law to serve as such, has been
      properly designated and currently so serves and is named in such Mortgage,
      and no fees or expenses  are or will  become  payable by the holder of the
      Mortgage Loan to the trustee under the deed of trust, except in connection
      with a trustee's sale after default by the Mortgagor.

            (xxi) Approximately [_]% of the Mortgaged Properties (by outstanding
      principal  balance as of the Cut-off Date),  are units in detached planned
      unit  developments.  Approximately  [_]% of the Mortgaged  Properties  (by
      outstanding  principal  balance  as of the  Cut-off  Date),  are  units in
      attached planned unit  developments.  Approximately  [_]% of the Mortgaged
      Properties (by outstanding  principal balance as of the Cut-off Date), are
      units in townhouses.  Approximately  [_]% of the Mortgaged  Properties (by
      outstanding  principal  balance  as of the  Cut-off  Date)  are  units  in
      manufactured  housing  developments.  Approximately  [_]% of the Mortgaged
      Properties (by outstanding  principal balance as of the Cut-off Date), are
      condominium  units.  Each  Mortgaged  Property is suitable for  year-round
      occupancy.

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<PAGE>

            (xxii)   Approximately   [_]%  of  the  Mortgaged   Properties   (by
      outstanding  principal  balance as of the Cut-off Date) are secured by the
      owner's primary residence.  Approximately [_]% of the Mortgaged Properties
      (by outstanding  principal  balance as of the Cut-off Date) are secured by
      the  owner's  second  or  vacation  residence.  Approximately  [_]% of the
      Mortgaged  Properties (by outstanding  principal balance as of the Cut-off
      Date) are secured by a non-owner occupied residence.

            (xxiii)   Approximately   [_]%  of  the  Mortgaged   Properties  (by
      outstanding  principal  balance as of the  Cut-off  Date),  are secured by
      detached  one-family  dwelling units.  Approximately [_]% of the Mortgaged
      Properties (by outstanding  principal balance as of the Cut-off Date), are
      secured by two- to four-family dwelling units.

            (xxiv) The average  outstanding  principal  balance of the  Mortgage
      Loans  at  origination  was  approximately  $[___].  No  Mortgage  Loan at
      origination  had a  principal  balance  of less  than  $[___] or more than
      $[___].

            (xxv) As of the Cut-off Date,  all Mortgage Rate  adjustments on the
      Mortgage  Loans  that have  reached an  Adjustment  Date have been done in
      accordance with the terms of the related Mortgage Note.

            (xxvi)  Any  escrow  arrangements  established  with  respect to any
      Mortgage  Loan are in  compliance  with all  applicable  local,  state and
      federal laws and are in compliance with the terms of the related  Mortgage
      Note.

            (xxvii) Except as otherwise  specifically set forth herein, there is
      no default,  breach, violation or event of acceleration existing under any
      Mortgage Note or Mortgage and no event which,  with notice and  expiration
      of any grace or cure period, would constitute a default, breach, violation
      or event of acceleration,  and no such default, breach, violation or event
      of acceleration  has been waived by RFC or by any other entity involved in
      originating or servicing a Mortgage Loan.

            (xxviii) Each Mortgage Loan  constitutes a qualified  mortgage under
      Section  860G(a)(3)(A)  of  the  Code  and  Treasury  Regulations  Section
      1.860G-2(a)(1).

            (xxix) No more than [_]% of the Mortgage Loans have been  classified
      by RFC as  Credit  Grade  A4  Mortgage  Loans,  no more  than  [_]% of the
      Mortgage  Loans have been  classified  by RFC as Credit  Grade AX Mortgage
      Loans, no more than [_]% of the Mortgage Loans have been classified by RFC
      as Credit Grade AM Mortgage Loans, no more than [_]% of the Mortgage Loans
      have been classified by RFC as Credit Grade B Mortgage Loans, no more than
      [_]% of the Mortgage  Loans have been  classified by RFC as Credit Grade C
      Mortgage  Loans  and no more  than [_]% of the  Mortgage  Loans  have been
      classified  by RFC as  Credit  Grade CM  Mortgage  Loans,  in each case as
      described generally in the Prospectus Supplement.

            (xxx) [No] Mortgage Loan is a graduated payment loan or has a shared
      appreciation or contingent interest feature.

            (xxxi) With respect to each Mortgage Loan,  either (i) each Mortgage
      Loan contains a customary provision for the acceleration of the payment of
      the unpaid principal

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      balance of the Mortgage Loan in the event the related  Mortgaged  Property
      is sold without the prior consent of the mortgagee  thereunder or (ii) the
      Mortgage Loan is assumable pursuant to the terms of the Mortgage Note.

            (xxxii)  [No]  Mortgage  Loan  provides  for  deferred  interest  or
      negative amortization.

            (xxxiii) [None] of the Mortgage Loans are buydown Mortgage Loans.

            (xxxiv) [Each] Mortgaged  Property is a single parcel of real estate
      with a one- to four-unit  single family residence  thereon,  a condominium
      unit, a manufactured  housing unit, a unit in a townhouse,  a planned unit
      development,  a leasehold  or a modular  home;  and no  Mortgage  Property
      consists  of a mobile  home or a  manufactured  housing  unit  that is not
      permanently affixed to its foundation.

            (xxxv) No more than  approximately  [_]% of the  Mortgage  Loans (by
      outstanding  principal  balance  as of the  Cut-off  Date),  were  made to
      Mortgagors  with credit  scores as described  generally in the  Prospectus
      Supplement of less than 600 excluding  Mortgagors  whose credit scores are
      not  available to RFC. The weighted  average of the credit  scores for the
      Mortgage   Loans  for  which  Credit  Scores  are  available  to  RFC  was
      approximately [_] as of the Cut-off Date.

            (xxxvi) [No]  instrument  of release or waiver has been  executed in
      connection with the Mortgage Loans, and no Mortgagor has been released, in
      whole or in part from its obligations in connection with a Mortgage Loan.

            (xxxvii) The weighted  average  remaining term to stated maturity of
      the  Mortgage  Loans,  as of the cut-off  date will be  approximately  [_]
      months.  The weighted  average  original  term to maturity of the Mortgage
      Loans, as of the cut-off date will be approximately [_] months.

            (xxxviii)  [None]  of the  Mortgage  Loans are  subject  to the Home
      Ownership and Equity Protection Act of 1994 ("HOEPA").

            (xxxix) To the best of RFC's  knowledge,  the  Subservicer  for each
      Mortgage Loan has accurately and fully reported its borrower  credit files
      to each of the Credit Repositories in a timely manner.

            (xl)  [None]  of the  proceeds  of any  Mortgage  Loan  were used to
      finance the purchase of single premium credit insurance policies.

            (xli) [No] Mortgage Loan has a prepayment  penalty term that extends
      beyond five years after the date of origination.

            (xlii) [None] of the Mortgage Loans are Balloon Mortgage Loans.

            (xliii)  [None]  of  the  Mortgage  Loans  are  loans  that,   under
      applicable state or local law in effect at the time of origination of such
      Mortgage Loan, are referred to as (1) "high

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      cost" or "covered"  loans or (2) any other similar  designation if the law
      imposes greater restrictions or additional legal liability for residential
      mortgage loans with high interest rates, points and/or fees.

            (xliv) The information  set forth in the prepayment  charge schedule
      attached  hereto  as  Exhibit  A (the  "Prepayment  Charge  Schedule")  is
      complete,  true and  correct in all  material  respects  as of the Cut-off
      Date,  and each  prepayment  charge  set  forth on the  Prepayment  Charge
      Schedule  ("Prepayment  Charge")  is  enforceable  and was  originated  in
      compliance with all applicable federal, state and local laws.

            (xlv)  [Each]  Mortgage  Loan  as of the  time  of  its  origination
      complied in all material  respects with all  applicable  local,  state and
      federal  laws,  including,  but not limited to, all  applicable  predatory
      lending laws.

            (xlvi) [No] Mortgage Loan was originated on or after October 1, 2002
      and before  March 7, 2003,  which is  secured by  property  located in the
      State of Georgia.

            (xlvii) [No]  Mortgage  Loan is a High Cost Loan or Covered Loan, as
      applicable  (as such terms are  defined in the  current  Appendix E of the
      Standard & Poor's  Glossary  For File  Format For  LEVELS(R)  Version  5.7
      (attached  hereto as  Exhibit  B);  provided  that no  representation  and
      warranty  is made in  this  clause  (xlvii)  with  respect  to [_]% of the
      Mortgage  Loans and (by  outstanding  principal  balance as of the Cut off
      Date),  secured by property located in the State of Kansas or with respect
      to [_]% of the Mortgage Loans (by outstanding  principal balance as of the
      Cut off Date),  secured by property located in the State of West Virginia;
      and provided further that no Qualified Substitute Mortgage Loan shall be a
      High Cost Loan or Covered Loan (as such terms are defined in Appendix E of
      the Standard & Poor's  Glossary For File Format For LEVELS(R) in effect on
      the date of substitution), unless the Company shall have received from S&P
      written confirmation that the inclusion of any such Mortgage Loan will not
      adversely  affect  the  then  current  ratings  assigned  to  any  of  the
      Certificates by S&P.

      Upon  discovery by RFC or upon notice from the Company or the Trustee of a
breach  of the  foregoing  representations  and  warranties  in  respect  of any
Mortgage  Loan, or upon the  occurrence  of a Repurchase  Event (as described in
Section 5 below),  which  materially and adversely  affects the interests of any
holders of the  Certificates,  the  Certificate  Insurer or the  Company in such
Mortgage  Loan  (notice  of which  breach  or  occurrence  shall be given to the
Company by RFC, if it discovers the same),  RFC shall,  within 90 days after the
earlier of its discovery or receipt of notice  thereof,  either cure such breach
or Repurchase Event in all material respects or, except as otherwise provided in
Section 2.04 of the Pooling and  Servicing  Agreement,  either (i) purchase such
Mortgage  Loan from the Trustee or the  Company,  as the case may be, at a price
equal  to the  Purchase  Price  for  such  Mortgage  Loan or (ii)  substitute  a
Qualified Substitute Mortgage Loan or Loans for such Mortgage Loan in the manner
and  subject to the  limitations  set forth in Section  2.04 of the  Pooling and
Servicing Agreement. If the breach of representation and warranty that gave rise
to the  obligation  to repurchase or substitute a Mortgage Loan pursuant to this
Section 4 was the  representation  set forth in clause (xlvi) of this Section 4,
then RFC shall pay to the Trust Fund,  concurrently  with and in addition to the
remedies provided in the preceding  sentence,  an amount equal to any liability,
penalty or expense

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<PAGE>

that was actually  incurred and paid out of or on behalf of the Trust Fund,  and
that directly  resulted  from such breach,  or if incurred and paid by the Trust
Fund thereafter, concurrently with such payment.

      5. With respect to the Mortgage  Loans,  a repurchase  event  ("Repurchase
Event") shall have occurred if it is discovered that, as of the date hereof, the
related Mortgage Loan was not a valid first lien or junior lien in the case of a
Junior Lien Loan on the related Mortgaged  Property subject only to (i) the lien
of real property taxes and assessments not yet due and payable,  (ii) covenants,
conditions,  and  restrictions,  rights of way,  easements  and other matters of
public  record  as of the date of  recording  of such  Mortgage  and such  other
permissible  title exceptions as are listed in the Program Guide and (iii) other
matters to which like  properties  are commonly  subject which do not materially
adversely  affect the value,  use,  enjoyment or  marketability of the Mortgaged
Property.

      6. RFC hereby  represents and warrants to the Company that with respect to
each  Mortgage  Loan,  the  REMIC's  tax basis in each  Mortgage  Loan as of the
Closing  Date is equal to or greater than 100% of the Stated  Principal  Balance
thereof.

      7. This  Agreement  shall inure to the benefit of and be binding  upon the
parties hereto and their respective  successors and assigns, and no other person
shall have any right or obligation hereunder.

      8. RFC, as master servicer under the Pooling and Servicing  Agreement (the
"Master  Servicer"),  shall not waive (or  permit a  sub-servicer  to waive) any
Prepayment Charge unless: (i) the enforceability thereof shall have been limited
by  bankruptcy,  insolvency,  moratorium,  receivership  and other  similar laws
relating  to  creditors'  rights  generally,  (ii) the  enforcement  thereof  is
illegal,  or any local,  state or federal agency has threatened  legal action if
the prepayment penalty is enforced,  (iii) the collectability thereof shall have
been limited due to  acceleration  in  connection  with a  foreclosure  or other
involuntary  payment or (iv) such waiver is standard and  customary in servicing
similar  Mortgage  Loans and  relates to a default or a  reasonably  foreseeable
default and would, in the reasonable  judgment of the Master Servicer,  maximize
recovery  of total  proceeds  taking into  account the value of such  Prepayment
Charge and the related Mortgage Loan. In no event will the Master Servicer waive
a Prepayment  Charge in connection with a refinancing of a Mortgage Loan that is
not related to a default or a reasonably  foreseeable  default.  If a Prepayment
Charge is waived,  but does not meet the  standards  described  above,  then the
Master Servicer is required to pay the amount of such waived  Prepayment  Charge
to the holder of the Class SB  Certificates  at the time that the amount prepaid
on the related  Mortgage  Loan is required to be  deposited  into the  Custodial
Account.  Notwithstanding  any other provisions of this Agreement,  any payments
made by the Master Servicer in respect of any waived Prepayment Charges pursuant
to this  Section  shall be deemed to be paid  outside  of the Trust Fund and not
part of any REMIC.

                      [Signatures begin on following page.]

                                       9
<PAGE>

      IN WITNESS  WHEREOF,  the parties have entered  into this  Assignment  and
Assumption Agreement as of the date first above written.

                                        RESIDENTIAL FUNDING COMPANY, LLC

                                        By:
                                           -------------------------------------
                                        Name:
                                        Title:

                                        RESIDENTIAL ASSET SECURITIES CORPORATION

                                        By:
                                           -------------------------------------
                                        Name:
                                        Title:

<PAGE>

                                    EXHIBIT A

                           Prepayment Charge Schedule

                               [(see attachment)]

<PAGE>

                                    EXHIBIT B
                                    ---------

                APPENDIX E OF THE STANDARD & POOR'S GLOSSARY FOR
                      FILE FORMAT FOR LEVELS(R) VERSION 5.7

                                                          REVISED [_____], 20[_]

           APPENDIX E - Standard & Poor's Predatory Lending Categories
           -----------------------------------------------------------

      Standard & Poor's has categorized loans governed by anti-predatory lending
laws in the  Jurisdictions  listed  below  into  three  categories  based upon a
combination  of factors that include (a) the risk exposure  associated  with the
assignee  liability  and (b) the tests and  thresholds  set forth in those laws.
Note that  certain  loans  classified  by the  relevant  statute as Covered  are
included in  Standard & Poor's High Cost Loan  Category  because  they  included
thresholds and tests that are typical of what is generally  considered High Cost
by the industry.

                  Standard & Poor's High Cost Loan Categorization
                  -----------------------------------------------

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                              Category under
                                            Name of Anti-Predatory Lending                   Applicable Anti-
       State/Jurisdiction                         Law/Effective Date                      Predatory Lending Law
----------------------------------------------------------------------------------------------------------------------
<S>                                <C>                                               <C>
Arkansas                           Arkansas Home Loan Protection Act,                High Cost Home Loan
                                   Ark. Code Ann. ss.ss. 23-53-101 et seq.

                                   Effective July 16, 2003
----------------------------------------------------------------------------------------------------------------------
Cleveland Heights, OH              Ordinance No. 72-2003 (PSH), Mun.                 Covered Loan
                                   Code ss.ss. 757.01 et seq.

                                   Effective June 2, 2003
----------------------------------------------------------------------------------------------------------------------
Colorado                           Consumer Equity Protection, Colo. Stat.           Covered Loan
                                   Ann. ss.ss. 5-3.5-101 et seq.

                                   Effective   for  covered   loans  offered  or
                                   entered  into on or after  January  1,  2003.
                                   Other  provisions  of the Act took  effect on
                                   June 7, 2002
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Exhibit B-1
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                              Category under
                                            Name of Anti-Predatory Lending                   Applicable Anti-
       State/Jurisdiction                         Law/Effective Date                      Predatory Lending Law
----------------------------------------------------------------------------------------------------------------------
<S>                                <C>                                               <C>
Connecticut                        Connecticut Abusive Home Loan                     High Cost Home Loan
                                   Lending Practices Act, Conn. Gen. Stat.
                                   ss.ss. 36a-746 et seq.

                                   Effective October 1, 2001
----------------------------------------------------------------------------------------------------------------------
District of Columbia               Home Loan Protection Act, D.C. Code               Covered Loan
                                   ss.ss. 26-1151.01 et seq.

                                   Effective for loans closed on or after
                                   January 28, 2003
----------------------------------------------------------------------------------------------------------------------
Florida                            Fair Lending Act, Fla. Stat. Ann. ss.ss.              High Cost Home Loan
                                   494.0078 et seq.

                                   Effective October 2, 2002
----------------------------------------------------------------------------------------------------------------------
Georgia (Oct. 1, 2002 -            Georgia Fair Lending Act, Ga. Code                High Cost Home Loan
Mar. 6, 2003)                      Ann. ss.ss. 7-6A-1 et seq.

                                   Effective October 1, 2002 - March 6, 2003
----------------------------------------------------------------------------------------------------------------------
Georgia as amended                 Georgia Fair Lending Act, Ga. Code                High Cost Home Loan
(Mar. 7, 2003 - current)           Ann. ss.ss. 7-6A-1 et seq.

                                   Effective for loans closed on or after
                                   March 7, 2003
----------------------------------------------------------------------------------------------------------------------
HOEPA Section 32                   Home Ownership and Equity Protection              High Cost Loan
                                   Act of 1994, 15 U.S.C. ss. 1639, 12
                                   C.F.R. ss.ss. 226.32 and 226.34

                                   Effective October 1, 1995, amendments
                                   October 1, 2002
----------------------------------------------------------------------------------------------------------------------
Illinois                           High Risk Home Loan Act, Ill. Comp.               High Risk Home Loan
                                   Stat. tit. 815, ss.ss. 137/5 et seq.

                                   Effective  January  1,  2004  (prior  to this
                                   date,  regulations under Residential Mortgage
                                   License Act effective from May 14,
                                   2001)
----------------------------------------------------------------------------------------------------------------------
Indiana                            Indiana Home Loan Practices Act, Ind. Code Ann.   High Cost Home Loans
                                   ss.ss. 24-9-1-1 et seq.

                                   Effective January 1, 2005; amended by 2005 HB
                                   1179, effective July 1, 2005
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Exhibit B-2
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                              Category under
                                            Name of Anti-Predatory Lending                   Applicable Anti-
       State/Jurisdiction                         Law/Effective Date                      Predatory Lending Law
----------------------------------------------------------------------------------------------------------------------
<S>                                <C>                                               <C>
Kansas                             Consumer Credit Code, Kan. Stat. Ann.             High Loan to Value Consumer
                                   ss.ss. 16a-1-101 et seq.                              Loan (id. ss. 16a-3-207) and;

                                   Sections   16a-1-301  and  16a-3-207   became     ---------------------------------
                                   effective April 14, 1999;  Section 16a-3-308a     High APR Consumer Loan (id. ss.
                                   became effective July 1, 1999                     16a-3-308a)
----------------------------------------------------------------------------------------------------------------------
Kentucky                           2003 KY H.B. 287 - High Cost Home                 High Cost Home Loan
                                   Loan Act, Ky. Rev. Stat. ss.ss. 360.100 et seq.

                                   Effective June 24, 2003
----------------------------------------------------------------------------------------------------------------------
Maine                              Truth in Lending, Me. Rev. Stat. tit. 9-          High Rate High Fee Mortgage
                                   A, ss.ss. 8-101 et seq.

                                   Effective September 29, 1995 and as amended
                                   from time to time
----------------------------------------------------------------------------------------------------------------------
Massachusetts                      Part 40 and Part 32, 209 C.M.R. ss.ss.                High Cost Home Loan
                                   32.00 et seq. and 209 C.M.R. ss.ss.
                                   40.01 et seq.

                                   Effective March 22, 2001 and amended from time
                                   to time
----------------------------------------------------------------------------------------------------------------------
Nevada                             Assembly Bill No. 284, Nev. Rev. Stat.            Home Loan
                                   ss.ss. 598D.010 et seq.

                                   Effective October 1, 2003
----------------------------------------------------------------------------------------------------------------------
New Jersey                         New Jersey Home Ownership Security                High Cost Home Loan
                                   Act of 2002, N.J. Rev. Stat. ss.ss.
                                   46:10B-22 et seq.

                                   Effective for loans closed on or after
                                   November 27, 2003
----------------------------------------------------------------------------------------------------------------------
New Mexico                         Home Loan Protection Act, N.M. Rev.               High Cost Home Loan
                                   Stat. ss.ss. 58-21A-1 et seq.

                                   Effective as of January 1, 2004; Revised
                                   as of February 26, 2004
----------------------------------------------------------------------------------------------------------------------
New York                           N.Y. Banking Law Article 6-1                      High Cost Home Loan

                                   Effective for applications made on or after
                                   April 1, 2003
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Exhibit B-3
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                              Category under
                                            Name of Anti-Predatory Lending                   Applicable Anti-
       State/Jurisdiction                         Law/Effective Date                      Predatory Lending Law
----------------------------------------------------------------------------------------------------------------------
<S>                                <C>                                               <C>
North Carolina                     Restrictions and Limitations on High              High Cost Home Loan
                                   Cost Home Loans, N.C. Gen. Stat. ss.ss.
                                   24-1.1E et seq.

                                   Effective  July 1, 2000;  amended  October 1,
                                   2003 (adding open-end lines of credit)
----------------------------------------------------------------------------------------------------------------------
Ohio                               H.B. 386 (codified in various sections of the     Covered Loan
                                   Ohio Code), Ohio Rev. Code Ann. ss.ss.
                                   1349.25 et seq.

                                   Effective May 24, 2002
----------------------------------------------------------------------------------------------------------------------
Oklahoma                           Consumer Credit Code (codified in various         Subsection 10 Mortgage
                                   sections of Title 14A)

                                   Effective July 1, 2000; amended effective
                                   January 1, 2004
----------------------------------------------------------------------------------------------------------------------
South Carolina                     South Carolina High Cost and                      High Cost Home Loan
                                   Consumer Home Loans Act, S.C. Code
                                   Ann. ss.ss. 37-23-10 et seq.

                                   Effective for loans taken on or after
                                   January 1, 2004
----------------------------------------------------------------------------------------------------------------------
West Virginia                      West Virginia Residential Mortgage Lender,        West Virginia Mortgage Loan Act
                                   Broker and Servicer Act, W.                       Loan
                                   Va. Code Ann. ss.ss. 31-17-1 et seq.

                                   Effective June 5, 2002
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                  Standard & Poor's Covered Loan Categorization
                  ---------------------------------------------

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                             Category under
                                         Name of Anti-Predatory Lending                     Applicable Anti-
State/Jurisdiction                             Law/Effective Date                         Predatory Lending Law
----------------------------------------------------------------------------------------------------------------------
<S>                                <C>                                               <C>
Georgia (Oct. 1, 2002 -            Georgia Fair Lending Act, Ga. Code                Covered Loan
Mar. 6, 2003)                      Ann. ss.ss. 7-6A-1 et seq.

                                   Effective October 1, 2002 - March 6, 2003
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Exhibit B-4
<PAGE>

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                             Category under
                                         Name of Anti-Predatory Lending                     Applicable Anti-
State/Jurisdiction                             Law/Effective Date                         Predatory Lending Law
----------------------------------------------------------------------------------------------------------------------
<S>                                <C>                                               <C>
New Jersey                         New Jersey Home Ownership Security                Covered Home Loan
                                   Act of 2002, N.J. Rev. Stat. ss.ss.
                                   46:10B 22 et seq.

                                   Effective November 27, 2003 - July 5, 2004
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                  Standard & Poor's Home Loan Categorization
                  ------------------------------------------

<TABLE>
<CAPTION>
----------------------------------------------------------------------------------------------------------------------
                                                                                              Category under
                                         Name of Anti-Predatory Lending                     Applicable Anti-
State/Jurisdiction                             Law/Effective Date                        Predatory Lending Law
----------------------------------------------------------------------------------------------------------------------
<S>                                <C>                                               <C>
Georgia (Oct. 1, 2002 -            Georgia Fair Lending Act, Ga. Code                Home Loan
Mar. 6, 2003)                      Ann. ss.ss. 7-6A-1 et seq.

                                   Effective October 1, 2002 - March 6, 2003
----------------------------------------------------------------------------------------------------------------------
New Jersey                         New Jersey Home Ownership Security                Home Loan
                                   Act of 2002, N.J. Rev. Stat. ss.ss.
                                   46:10B-22 et seq.

                                   Effective for loans closed on or after
                                   November 27, 2003
----------------------------------------------------------------------------------------------------------------------
New Mexico                         Home Loan Protection Act, N.M. Rev.               Home Loan
                                   Stat. ss.ss. 58-21A-1 et seq.

                                   Effective as of January 1, 2004; Revised as of
                                   February 26, 2004
----------------------------------------------------------------------------------------------------------------------
North Carolina                     Restrictions and Limitations on High Cost Home    Consumer Home Loan
                                   Loans, N.C. Gen. Stat. ss.ss. 24-1.1E et seq.

                                   Effective  July 1, 2000;  amended  October 1,
                                   2003 (adding open-end lines of credit)
----------------------------------------------------------------------------------------------------------------------
South Carolina                     South Carolina High Cost and Consumer Home        Consumer Home Loan
                                   Loans Act, S.C. Code Ann. ss.ss. 37-23-10 et seq.

                                   Effective for loans taken on or after
                                   January 1, 2004
----------------------------------------------------------------------------------------------------------------------
</TABLE>

                                   Exhibit B-5exv4w2

 

Exhibit 4.2

SHORETEL, INC.

SEVENTH AMENDED AND RESTATED RIGHTS AGREEMENT

     This SEVENTH AMENDED AND RESTATED RIGHTS AGREEMENT (this “Rights Agreement”) is entered into
as of October 20, 2004, by and among ShoreTel, Inc., a California corporation (the “Company”), the
persons and entities listed on Exhibit A hereto (the “Investors”), Edwin J. Basart, Michael
Harrigan, Ray C. Combs, David P. Dix and David S. Korn (each a “Common Holder” and collectively,
the “Common Holders”) and with respect to Section 1 only, Silicon Valley Bank (“SVB”).

RECITALS

     A. Certain of the Investors have agreed to purchase shares of the Company’s Series H Preferred
Stock (the “Series H Preferred Shares”) pursuant to a Series H Preferred Stock Purchase Agreement
dated of even date herewith (such agreement, as it may be amended from time to time is referred to
herein as the “Series H Agreement”).

     B. The holders of the Company’s currently outstanding shares of Preferred Stock have certain
information and registration rights and rights of first refusal under a Sixth Amended and Restated
Rights Agreement dated March 1, 2004 by and among the Company and such persons and entities (the
“Prior Rights Agreement”).

     C. The Series H Agreement provides that, as a condition to the purchase by certain of the
Investors of Series H Preferred Shares thereunder, the Company will enter into this Agreement and
the Investors will be granted the rights set forth herein. Accordingly, the Company and the
Investors desire to enter into this Agreement in order to amend, restate and replace the rights and
obligations of the parties under the Prior Rights Agreement with the rights and obligations set
forth in this Agreement. Section 4.1 of the Prior Rights Agreement provides that the Prior Rights
Agreement may be amended by the written consent of the holders of at least a majority of the
“Registrable Securities” (as defined in the Prior Rights Agreement), and the undersigned parties to
this Agreement hold in excess of a majority of such “Registrable Securities”.

AGREEMENT

     NOW, THEREFORE, in consideration for and of the foregoing and of the mutual promises,
covenants and conditions set forth herein and other good and valuable consideration the receipt and
sufficiency of which is hereby acknowledged, the parties hereby agree as follows:

ShoreTel (Series H) – Rights Agmt

 

 

     1. Registration Rights.

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

          (a) The term “Affiliate” shall mean a person that directly, or indirectly through one or
more intermediaries, controls, or is controlled by, or is under common control with, the person
specified and includes without limitation any person meeting the definition of “affiliate” set
forth in Rule 405 of the Securities Act.

          (b) The term “Preferred Stock” shall mean the preferred stock of the Company.

          (c) The terms “register,” “registered” and “registration” refer to a registration effected
by preparing and filing a registration statement in compliance with the Securities Act of 1933,
as amended (the “Securities Act”), and the declaration or ordering of the effectiveness of such
registration statement.

          (d) The term “Registrable Securities” means (i) any and all shares of common stock of the
Company (“Common Stock”) issued or issuable upon conversion of the Company’s Preferred Stock
(the “Conversion Shares”), (ii) any and all shares of Common Stock or other securities issued or
issuable in respect of the current or previously authorized and outstanding Preferred Stock,
including without limitation a total of 3,814,741 shares of Common Stock issued to holders of
Series E Preferred Stock on October 11, 2002, (iii) the shares of Common Stock (the “SVB
Shares”) issuable upon conversion of the shares of the Company’s Series F Preferred Stock
issuable upon exercise of that certain Warrant to Purchase Stock issued by the Company to SVB in
September 2003, and (iv) any and all shares of Common Stock or other securities issued or
issuable upon any conversion of the Preferred Stock upon any stock split, stock dividend,
recapitalization or similar event, excluding in all cases, however, Registrable Securities sold
by a person in a transaction in which his rights under this Section 1 are not assigned;
provided, however, that notwithstanding anything herein to the contrary, the SVB
Shares and any shares of Common Stock described in clause (iv) of this Section 1.1(d) that are
issued in respect of any SVB Shares shall not be Registrable Securities for purposes of Section
1.2 of this Agreement; provided, further, that any and all shares described in
clauses (i)-(iv) above which have been resold to the public shall cease to be Registrable
Securities upon such resale and any shares as to which registration rights have terminated
pursuant to Section 1.14 below shall cease to be Registrable Securities upon such termination.
Registrable Securities shall also include, but solely for purposes of Sections 1.3, 1.5, 1.6,
1.7, 1.8, 1.12 and 1.14 of this Rights Agreement, any and all shares of Common Stock held, now
or hereafter, by the Common Holders.

          (e) The number of shares of “Registrable Securities” outstanding shall be determined by the
number of shares of Common Stock outstanding that are, and the
number of shares of Common Stock issuable pursuant to then exercisable or convertible
securities that are, Registrable Securities.

ShoreTel (Series H) – Rights Agmt

-2-

 

          (f) The terms “Holder” or “Holders” means the Investors and any person or persons to
whom Registrable Securities were transferred under Section 1.10 hereof who hold Registrable
Securities. The terms Holder and Holders shall also include, but solely for purposes of
Sections 1.3, 1.5, 1.6, 1.7, 1.8, 1.12 and 1.14 of this Rights Agreement, the Common Holders.

          (g) The term “Initiating Holders” means any Holder or Holders holding 50% or greater of the
aggregate of the Registrable Securities then outstanding; provided, however, the term
“Initiating Holders” shall mean any Holder or Holders holding any percentage of the aggregate of
Registrable Securities outstanding if the anticipated aggregate offering price of the securities
to be registered in the proposed registration exceeds $20,000,000.

          (h) The term “SEC” means the Securities and Exchange Commission.

          (i) The term “Registration Expenses” shall mean all expenses incurred by the Company in
complying with Sections 1.2, 1.3 and 1.4 hereof, including, without limitation, all
registration, qualification and filing fees, printing expenses, escrow fees, fees and
disbursements of counsel for the Company, reasonable fees and disbursements of one counsel for
all Holders which are selling Registrable Securities under such registration statement, blue sky
fees and expenses, and the expense of any special audits incident to or required by any such
registration (but excluding the compensation of regular employees of the Company which shall be
paid in any event by the Company).

          1.2 Demand Registration.

     (a) Request for Registration. In case the Company shall receive from Initiating
Holders a written request that the Company effect a registration with respect to Registrable
Securities, the Company will:

          (i) promptly give written notice of the proposed registration to all other Holders; and

          (ii) as soon as practicable, use its best efforts to effect all such registrations
(including, without limitation, the execution of an undertaking to file post-effective
amendments, appropriate qualifications under the applicable blue sky or other state
securities laws and appropriate compliance with exemptive regulations issued under the
Securities Act and any other governmental requirements or regulations) as may be so
requested and as would permit or facilitate the sale and distribution of all or such portion
of such Initiating Holder’s or Initiating Holders’ Registrable Securities as are specified
in such request, together with all or such portion of the Registrable Securities of any
Holder or Holders joining in such request as are specified in a written request given within
thirty (30) days after receipt of such written notice from the Company; provided,
however, that the Company shall not be obligated to take any action to effect such
registration pursuant to this Section 1.2:

          (A) at any time prior to the earlier to occur of (1) March 1, 2007 or (2) 180 days
following the effective date of the registration statement

ShoreTel (Series H) – Rights Agmt

-3-

 

under the Securities Act for the Company’s initial registered underwritten
public offering of its securities to the general public (other than a registration
statement relating either to the sale of securities to employees of the Company pursuant
to a stock option, stock purchase or similar plan or a SEC Rule 145 transaction) with a
per share price of at least $0.645 per share (as adjusted for stock splits,
combinations, and the like) and aggregate proceeds in excess of $20,000,000 (the
“Qualified IPO”);

          (B) in any particular jurisdiction in which the Company would be required to
execute a general consent to service of process in effecting such registration,
qualification or compliance unless the Company is already subject to service in such
jurisdiction and except as required by the Securities Act; or

          (C) after the Company has effected two (2) such registrations pursuant to this
Section 1.2(a) and such registrations have been declared or ordered effective.

Subject to the foregoing clauses (A) through (C), the Company shall file a registration
statement covering the Registrable Securities so requested to be registered as soon as
practicable, but in any event within ninety (90) days, after receipt of the request or requests
of the Initiating Holders; provided, however, that if the Company shall furnish
to such Initiating Holders a certificate signed by the President of the Company stating that in
the good faith judgment of the Company’s board of directors (the “Board of Directors”), it would
be detrimental to the Company and its shareholders for such registration statement to be filed
on or before the date filing would be required and it is therefore essential to defer the filing
of such registration statement, the Company shall have the right to defer such filing for a
period of not more than ninety (90) days after the receipt of the request of the Initiating
Holders; and, provided further, however, that the Board of Directors shall not exercise such
right to defer a filing more than once in any consecutive twelve (12) month period.

          (b) Underwriting. If the Initiating Holders intend to distribute the Registrable
Securities covered by their request by means of an underwriting, they shall so advise the Company
as part of their request made pursuant to Section 1.2(a) and the Company shall include such
information in the written notice referred to in Section 1.2(a)(i). In such event, the
underwriter shall be selected by a majority in interest of the Initiating Holders and shall be
reasonably acceptable to the Company. The right of any Holder to registration pursuant to Section
1.2 shall be conditioned upon such Holder’s participation in such underwriting and the inclusion of
such Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a
majority in interest of the Initiating Holders and such Holder) to the extent provided herein. The
Company shall (together with all Holders proposing to distribute their securities through such
underwriting) enter into an underwriting agreement in customary form with the underwriter or
underwriters. Notwithstanding any other provision of this Section 1.2, if the underwriter advises
the Initiating Holders in writing that marketing factors require a limitation of the number of
shares to be underwritten, the Initiating Holders shall so advise all Holders, and the number of
shares of Registrable Securities that may be included in the registration and underwriting shall be
allocated among all Holders thereof in proportion, as nearly as practicable, to the respective
amounts of Registrable Securities held by such Holders; provided, however, that the
number of shares of Registrable Securities to be included in such underwriting shall not

ShoreTel (Series H) – Rights Agmt

-4-

 

be reduced
unless all other securities are first entirely excluded from the underwriting. If any Holder of
Registrable Securities disapproves of the terms of the underwriting, such Holder may elect to
withdraw therefrom by written notice to the Company, the underwriter and the Initiating Holders.
Any Registrable Securities which are excluded from the underwriting by reason of the underwriter’s
marketing limitation or withdrawn from such underwriting shall be withdrawn from such registration.

               (c) Company Shares. If the managing underwriter has not limited the number of
Registrable Securities to be underwritten, the Company may include securities for its own account
or for the account of others in such registration if the managing underwriter so agrees and if the
number of Registrable Securities which would otherwise have been included in such registration and
underwriting will not thereby be limited.

          1.3 Company Registration.

          (a) Registration. If at any time or from time to time, the Company shall determine
to register any of its securities, for its own account or the account of any of its
shareholders, other than a registration relating solely to employee stock option or purchase
plans, or a registration relating solely to an SEC Rule 145 transaction, or a registration on
any other form (other than Form S-1, S-2, S-3 or S-18, or their successor forms) or any
successor to such forms, which does not include substantially the same information as would be
required to be included in a registration statement covering the sale of Registrable Securities,
the Company will:

          (i) promptly give to each Holder written notice thereof and

          (ii) include in such registration (and compliance), and in any underwriting involved
therein, all the Registrable Securities specified in a written request or requests, made
within twenty (20) days after receipt of such written notice from the Company, by any Holder
or Holders, except as set forth in Section 1.3(b) below.

          (b) Underwriting. If the registration of which the Company gives notice is for a
registered public offering involving an underwriting, the Company shall so
advise the Holders as a part of the written notice given pursuant to Section 1.3(a)(i). In
such event the right of any Holder to registration pursuant to Section 1.3 shall be conditioned
upon such Holder’s participation in such underwriting and the inclusion of such Holder’s
Registrable Securities in the underwriting to the extent provided herein. All Holders proposing
to distribute their securities through such underwriting shall (together with the Company and
the other shareholders distributing their securities through such underwriting) enter into an
underwriting agreement in customary form with the underwriter or underwriters selected for such
underwriting by the Company. Notwithstanding any other provision of this Section 1.3, if the
underwriter determines that marketing factors require a limitation of the number of shares to be
underwritten, and (i) if such registration is in connection with the Qualified IPO, the
underwriter may limit the number of Registrable Securities to be included in the registration
and underwriting, or may exclude Registrable Securities entirely from such registration and
underwriting, or (ii) if such registration is other than the first registered offering of the
sale of the Company’s securities to the general public, the underwriter may

ShoreTel (Series H) – Rights Agmt

-5-

 

limit the amount of securities to be included in the registration and underwriting by
the Company’s shareholders; provided, however, the number of Registrable
Securities to be included in such registration and underwriting under this Section 1.3(b)(ii)
shall not be reduced to less than 25% of the aggregate securities included in such registration
without the prior consent of the Holders of not less than a majority of the Registrable
Securities proposed to be included in such registration and underwriting. The Company shall so
advise all Holders of Registrable Securities which would otherwise be registered and
underwritten pursuant hereto, and the number of shares of Registrable Securities that may be
included in the registration and underwriting shall be allocated among Holders requesting
registration in proportion, as nearly as practicable, to the respective amounts of Registrable
Securities held by each of such Holders as of the date of the notice pursuant to Section
1.3(a)(i) above; provided, however, that in no instance shall shares of any
other selling shareholder or Registrable Securities held by the Common Holders be included in
such registration and underwriting if such inclusion would reduce the number of shares of
Registrable Securities held by other Holders able to be included in such registration and
underwriting. If any Holder disapproves of the terms of any such underwriting, he may elect to
withdraw therefrom by written notice to the Company and the underwriter. Any Registrable
Securities excluded or withdrawn from such underwriting shall be withdrawn from such
registration.

          1.4 Form S-3. In addition to the rights and obligations set forth in Section 1.2
above, if Holders holding 20% or more of the Registrable Securities then outstanding (“S-3
Holders”) request that the Company file a registration statement on Form S-3 (or any successor to
Form S-3) for a public offering of shares of Registrable Securities, the reasonably anticipated
aggregate price to the public of which (net of underwriting discounts and commissions) would exceed
$1,000,000 and the Company is then a registrant entitled to use Form S-3 (or any successor form to
Form S-3) to register the shares for such an offering, the Company shall use its
best efforts to cause such shares to be registered for the offering as soon as practicable on
Form S-3 (or any successor form to Form S-3); provided, however, the Company shall
not be required to effect a registration pursuant to this Section 1.4:

          (a) in any particular jurisdiction in which the Company would be required to execute a
general consent to service of process in effecting such registration, qualification or
compliance unless the Company is already subject to service in such jurisdiction and except as
may be required by the Securities Act;

          (b) if the Company, within ten (10) days of the receipt of the request of the S-3 Holders,
gives notice of its bona fide intention to effect the filing of a registration statement with
the SEC within forty-five (45) days of receipt of such request (other than with respect to a
registration statement relating to a Rule 145 transaction, an offering solely to employees or
any other registration which is not appropriate for the registration of Registrable Securities),
and does so file within said forty-five (45) day period and makes reasonable efforts to cause
such registration to become effective;

          (c) during a period of ninety (90) days following the effective date of a registration
statement;

ShoreTel (Series H) – Rights Agmt

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          (d) if the Company has effected two (2) registrations pursuant to this Section 1.4
within a twelve (12) month period from the date of such request; or

          (e) if the Company shall furnish to such S-3 Holders a certificate signed by the President
of the Company stating that in the good faith judgment of the Board of Directors, it would be
detrimental to the Company and its shareholders for such registration statement to be filed on
or before the date filing would be required and it is therefore essential to defer the filing of
such registration statement, in which case the Company shall have the right to defer such filing
for a period of not more than ninety (90) days after the furnishing of such a certificate of
deferral; provided, however, that the Board of Directors shall not exercise such
right to defer a filing more than once in any consecutive twelve (12) month period.

In the event such S-3 Holders propose to offer the shares of Registrable Securities pursuant to
this Section 1.4 by means of an underwriting, the proposed underwriter(s) shall be reasonably
acceptable to the Company, provided, however, that in the event such underwriter(s)
is (are) not reasonably acceptable to the Company, the Company shall be required to furnish to the
Holders, within twenty (20) days of the receipt of the request for registration from S-3 Holders
pursuant to this Section 1.4, the names of at least two (2) underwriters acceptable to the Company,
who agree to act as underwriter for the proposed offering on terms no less favorable to the Holders
than those terms proposed in writing by the underwriter(s) selected by the S-3 Holders. The
Company shall give written notice to all Holders of the receipt of a request for registration
pursuant to this Section 1.4 and shall provide a reasonable opportunity for other Holders to
participate in the registration, provided that if the registration is for an underwritten offering,
the terms of Section 1.2(b) shall apply to all participants in such offering.

          1.5 Expenses of Registration. All Registration Expenses incurred in connection with
any registration pursuant to this Section 1 shall be borne by the Company except as follows:

          (a) The Company shall not be required to pay for expenses of any registration proceeding
begun pursuant to Section 1.2 the request for which has been subsequently withdrawn by the
Initiating Holders (in which case, such expenses shall be borne by the Holders requesting such
withdrawal), unless the Initiating Holders agree to forfeit their right to one (1) registration
pursuant to Section 1.2; provided, however, that if at the time of such
withdrawal, the Holders have learned of a material adverse change in the condition, business or
prospects of the Company from that known to the Holders at the time of their request and have
withdrawn the request with reasonable promptness following disclosure by the Company of such
material adverse change, then the Holders shall not be required to pay any of such expenses and
shall retain their rights pursuant to Section 1.2 or 1.4.

          (b) The Company shall not be required to pay fees or disbursements of legal counsel of a
Holder unless the Holders holding a majority of the shares included in the registration specify
one special counsel.

ShoreTel (Series H) – Rights Agmt

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          (c) The Company shall not be required to pay underwriters’ fees, discounts or
commissions relating to Registrable Securities.

          1.6 Registration Procedures. In the case of each registration effected by the Company
pursuant to this Rights Agreement, the Company will keep each Holder participating therein advised
in writing as to the initiation of each registration, qualification and compliance and as to the
completion thereof. Except as otherwise provided in Section 1.5, at its expense the Company will:

          (a) Prepare and file with the SEC a registration statement with respect to such Registrable
Securities and use its best efforts to cause such registration statement to become effective,
and, upon the request of the Holders of a majority of the Registrable Securities registered
thereunder, keep such registration statement effective for up to one hundred twenty (120) days
or, if a shorter period, until securities included in the registration statement are sold.

          (b) Prepare and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection with such registration statement as may be
necessary to comply with the provisions of the Securities Act with respect to the disposition of
all securities covered by such registration statement.

          (c) Furnish to the Holders such numbers of copies of a prospectus, including a preliminary
prospectus, in conformity with the requirements of the Securities Act, and such other documents
as they may reasonably request in order to facilitate the disposition of Registrable Securities
owned by them.

          (d) Use its best efforts to register and qualify the securities covered by such
registration statement under such other securities or Blue Sky laws of such jurisdictions as
shall be reasonably requested by the Holders, provided that the Company shall not be required in
connection therewith or as a condition thereto to qualify to do business or to file a general
consent to service of process in any such states or jurisdictions.

          (e) In the event of any underwritten public offering, enter into and perform its
obligations under an underwriting agreement, in usual and customary form, with the managing
underwriter of such offering. Each Holder participating in such underwriting shall also enter
into and perform its obligations under such an agreement.

          (f) Notify each Holder of Registrable Securities covered by such registration statement at
any time when a prospectus relating thereto is required to be delivered under the Securities Act
or the happening of any 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 the light of the circumstances then existing.

          (g) Furnish, at the request of any Holder requesting registration of Registrable Securities
pursuant to this Section 1, on the date that such Registrable Securities are delivered to the
underwriters for sale in connection with a registration pursuant to this

ShoreTel (Series H) – Rights Agmt

-8-

 

Section 1, if such securities are being sold through underwriters, or, if such
securities are not being sold through underwriters, on the date that the registration statement
with respect to such securities becomes effective, (i) an opinion, dated such date, of the
counsel representing the Company for the purposes of such registration, in form and substance as
is customarily given to underwriters in an underwritten public offering, addressed to the
underwriters, if any, and to the Holders requesting registration of Registrable Securities and
(ii) a letter dated such date, from the independent public accountants of the Company, in form
and substance as is customarily given by independent certified public accountants to
underwriters in an underwritten public offering, addressed to the underwriters, if any, and to
the Holders requesting registration of Registrable Securities.

               (h) Cause all such Registrable Securities registered pursuant hereunder to be listed on
each securities exchange on which similar securities issued by the Company are then listed.

               (i) Provide a transfer agent and registrar for all Registrable Securities registered
pursuant hereunder and a CUSIP number for all such Registrable Securities, in each case not
later than the effective date of such registration.

          1.7 Indemnification.

               (a) The Company will indemnify and defend each Holder and each of its officers, directors,
members, managers, partners (including J.P. Morgan Investment Management Inc. or JPMorgan Chase
Bank solely in their role as advisors to J.P. Morgan Direct Venture Capital Institutional
Investors LLC, J.P. Morgan Direct Venture Capital Private Investors LLC, or 522 Fifth Avenue
Fund, L.P. referred to hereinafter as the “J.P. Morgan Partners”), and each person controlling
such Holder, with respect to which a registration has been effected pursuant to this Rights
Agreement, and each underwriter, if any, and each person who controls any underwriter of the
Registrable Securities held by or issuable to such Holder, against all claims, losses, expenses,
damages and liabilities (or actions in respect thereto) arising out of or based on any untrue
statement (or alleged untrue statement) of a material fact contained in any registration
statement or prospectus incident to such registration, or based on any 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 any violation or alleged violation by the Company of
the Securities Act, the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or any
state securities law applicable to the Company or any rule or regulation promulgated under the
Securities Act, the Exchange Act or any such state law and relating to action or inaction
required of the Company in connection with any such registration, and will reimburse each such
Holder, each of its officers, directors, members, managers, partners (including the J.P. Morgan
Partners), and each person controlling such Holder, each such underwriter and each person who
controls any such underwriter, as incurred for any reasonable legal and any other expenses
incurred in connection with investigating, defending or settling any such claim, loss, damage,
liability or action; provided, however, that the indemnity agreement contained
in this Section 1.7(a) shall not apply to amounts paid in settlement of any such claim, loss,
damage, liability, or action if such settlement is effected without the consent of the Company
(which consent shall not be unreasonably withheld); and, provided further,
however, that the

ShoreTel (Series H) – Rights Agmt

-9-

 

Company will not be liable in any such case to the extent that any such claim, loss,
damage or liability arises out of or is based on any untrue statement or omission based upon
written information furnished to the Company by an instrument duly executed by such Holder or
underwriter specifically for use therein.

          (b) Each Holder will, if Registrable Securities held by or issuable to such Holder are
included in the securities as to which such registration is being effected, indemnify and defend
the Company, each of its directors and officers, each underwriter, if any, of the Company’s
securities covered by such a registration statement, each person who controls the Company within
the meaning of the Securities Act, and each other such Holder, each of its officers, directors,
members, managers, partners (including the J.P. Morgan Partners), and each person controlling
such other Holder, against all claims, losses, expenses, damages and liabilities (or actions in
respect thereof) arising out of or based on any untrue statement (or alleged untrue statement)
of a material fact contained in any registration statement or prospectus incident to such
registration, or any omission (or alleged omission) to state therein a material fact required to
be stated therein or necessary to make the statements therein not misleading, and will reimburse
the Company, such other Holders, such directors, officers, members, managers, partners
(including the J.P. Morgan Partners), persons or underwriters for any reasonable legal or any
other expenses incurred in connection with investigating, defending or settling any such claim,
loss, damage, liability or action, in each case to the extent, but only to the extent, that such
untrue statement (or alleged untrue statement) or omission (or alleged omission) is made in such
registration statement or prospectus in reliance upon and in conformity with written information
furnished to the Company by such Holder in an instrument duly executed by such Holder
specifically for use therein; provided, however, that the indemnity agreement
contained in this Section 1.7(b) and Section 1.7(d) below shall not apply to amounts paid in
settlement of any such claim, loss, damage, liability or action if such settlement is effected
without the consent of such Holder (which consent shall not be unreasonably withheld or
delayed); and, provided further, that the total amount for which any Holder shall be liable
under this Section 1.7(b) shall not in any event exceed the aggregate proceeds received by such
Holder from the sale of Registrable Securities held by such Holder in such registration.

          (c) Each party entitled to indemnification under this Section 1.7 (the “Indemnified Party”)
shall give notice to the party required to provide indemnification (the “Indemnifying Party”)
promptly after such Indemnified Party has actual knowledge of any claim as to which indemnity
may be sought, and shall permit the Indemnifying Party to assume the defense of any such claim
or any litigation resulting therefrom; provided, however, that counsel for the
Indemnifying Party who shall conduct the defense of such claim or litigation, shall be approved
by the Indemnified Party (whose approval shall not be unreasonably withheld), and the
Indemnified Party may participate in such defense at its own expense; and, provided
further, that the failure of any Indemnified Party to give notice as provided herein shall
not relieve the Indemnifying Party of its obligations hereunder, unless such failure resulted in
prejudice to the Indemnifying Party; and, provided further, however, that an
Indemnified Party (together with all other Indemnified Parties which may be represented without
conflict by one counsel) shall have the right to retain one separate counsel, with the fees and
expenses to be paid by the Indemnifying Party, if representation of such Indemnified Party by
the counsel retained by the Indemnifying Party would be

ShoreTel (Series H) – Rights Agmt

-10-

 

reasonably inappropriate due to a conflict of interests between such Indemnified Party
and any other party represented by such counsel in such proceeding. No Indemnifying Party, in
the defense of any such claim or litigation, shall, except with the consent of each 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 1.7 is held by a court of competent
jurisdiction to be unavailable to an indemnified party with respect to any losses, claims,
damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying such
indemnified party thereunder, shall to the extent permitted by applicable law contribute to the
amount paid or payable by such indemnified party as a result of such loss, claim, damage or
liability 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
violation(s) that resulted in such loss, claim, damage or liability, as well as any other
relevant equitable considerations. The relative fault of the indemnifying party and of the
indemnified party shall be determined by a court of law by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the 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; provided, however, that in no
event shall any contribution by a Holder hereunder and any indemnification by a holder pursuant
to Section 1.7(b) in the aggregate exceed the net proceeds from the offering received by such
Holder.

          (e) Notwithstanding the foregoing, to the extent that the provisions on indemnification and
contribution combined in the underwriting agreement entered into in connection with the
underwritten public offering are in conflict with the foregoing provisions, the provisions in
the underwriting agreement shall control.

          (f) The obligations of the Company and Holders under this Section 1.7 shall survive
completion of any offering of Registrable Securities in a registration statement and the
termination of this agreement.

          1.8 Information by Holder. Any Holder or Holders of Registrable Securities included
in any registration shall promptly furnish to the Company such information regarding such Holder or
Holders and the distribution proposed by such Holder or Holders as the Company may request in
writing and as shall be required in connection with any registration, qualification or compliance
referred to herein.

          1.9 Rule 144 Reporting. With a view to making available to Holders the benefits of
certain rules and regulations of the SEC which may permit the sale of the Registrable Securities to
the public without registration, the Company agrees at all times to:

          (a) make and keep public information available, as those terms are understood and defined
in SEC Rule 144, after ninety (90) days after the effective date of the first registration filed
by the Company for an offering of its securities to the general public;

ShoreTel (Series H) – Rights Agmt

-11-

 

          (b) file with the SEC in a timely manner all reports and other documents required of
the Company under the Securities Act and the Exchange Act (at any time after it has become
subject to such reporting requirements); and

          (c) so long as a Holder owns any Registrable Securities, to furnish to such Holder
forthwith upon request a written statement by the Company as to its compliance with the
reporting requirements of said Rule 144 (at any time after ninety (90) days after the effective
date of the first registration statement filed by the Company for an offering of its securities
to the general public), and of the Securities Act and the Exchange Act (at any time after it has
become subject to such reporting requirements), a copy of the most recent annual or quarterly
report of the Company, and such other reports and documents so filed by the Company as the
Holder may reasonably request in complying with any rule or regulation of the SEC allowing the
Holder to sell any such securities without registration.

          1.10 Transfer of Registration Rights. The Holders’ rights to cause the Company to
register their securities and ancillary rights and keep information available, granted to them by
the Company under the preceding Sections of this Section 1, may be assigned to a transferee or
assignee of at least 100,000 shares (as adjusted for stock splits, stock dividends,
recapitalization and like events) of a Holder’s Registrable Securities not sold to the public,
provided in each case that (a) the Company is given written notice by such Holder at the time of or
within a reasonable time after said transfer, stating the name and address of said transferee or
assignee and identifying the securities with respect to which such registration rights are being
assigned, and (b) such transferee agrees to abide by and be bound by the terms of this Agreement.
The Company may prohibit the transfer of any Holders’ rights under this Section 1.10 to any
proposed transferee or assignee who the Company reasonably believes is a competitor of the Company.
Notwithstanding anything else in this Section 1.10, any Holder may transfer rights to a transferee
of fewer than 100,000 shares (as adjusted for stock splits, stock dividends, recapitalizations and
like events) of a Holder’s Registrable Securities if such transferee is an Affiliate of such
Holder.

          1.11 Limitations on Subsequent Registration Rights. From and after the date hereof,
the Company shall not, without the prior written consent of the Holders (which consent will not be
unreasonably withheld) of not less than a majority of the Registrable Securities then outstanding
enter into any agreement, with any holder or prospective holder of any securities of the Company
which would allow such holder or prospective holder to demand any registration or include such
securities in any registration filed under Sections 1.2, 1.3 or 1.4 hereof if such inclusion would
adversely affect the rights of any Holder (or any qualifying transferee under
Section 1.10) under such Sections, including reducing the number of shares of Registrable
Securities of a Holder able to be included in any registration.

          1.12 “Market Stand-Off” Agreement. Each Holder hereby agrees that, during the period
of duration (not to exceed one hundred eighty (180) days) specified by the Company and an
underwriter of common stock or other securities convertible into common stock of the Company
following the effective date of a registration statement of the Company filed under the Securities
Act, it shall not, to the extent requested by the Company and such underwriter, directly or
indirectly sell, offer to sell, contract to sell (including, without limitation, any short sale),
grant any option to purchase, pledge or otherwise transfer or dispose of (other than to donees who

ShoreTel (Series H) – Rights Agmt

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agree to be similarly bound) any securities of the Company held by it at any time during
such period except common stock included in such registration; provided, however, that:

               (a) such agreement shall be applicable only to the registration statement of the Company filed
in connection with the Qualified IPO; and

               (b) such agreement shall not be required unless all officers and directors of the Company and
all holders of two percent or more of the Company’s outstanding capital stock (on a
common-equivalent basis) enter into similar agreements.

     In order to enforce the foregoing covenant, the Company may impose stop-transfer instructions
with respect to the Registrable Securities of each Holder (and the shares of securities of every
other person subject to the foregoing restriction) until the end of such period.

     Notwithstanding the foregoing, in the event that the Company or the underwriters shall release
from the terms of the foregoing lockup provisions or such agreements more than (i) 25,000 shares of
Registrable Securities held by any person or entity, or (ii) 250,000 shares of Registrable
Securities in the aggregate (any such amount released, the “Excess Release Amount”), the Company
shall immediately so notify all other holders of Registrable Securities and each holder of
Registrable Securities shall automatically be released from its lockup provided for in this Section
1.12 that amount of such holder’s Registrable Securities subject thereto equal to such holder’s
pro-rata share of the Excess Release Amount, determined in according to the amount of Registrable
Securities held by such holder.

     Each Holder agrees that a legend reading substantially as follows shall be placed on all
certificates representing all Registrable Securities of each Holder (and the shares or securities
of every other person subject to the restriction contained in this Section 1.12):

THE SECURITIES REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO A LOCK-UP PERIOD OF UP
TO 180 DAYS AFTER THE EFFECTIVE DATE OF THE ISSUER’S REGISTRATION STATEMENT FILED
UNDER THE ACT, AS AMENDED, AS SET FORTH IN AN AGREEMENT BETWEEN
THE COMPANY AND THE ORIGINAL HOLDER OF THESE SECURITIES, A COPY OF WHICH MAY BE
OBTAINED AT THE ISSUER’S PRINCIPAL OFFICE. SUCH LOCK-UP PERIOD IS BINDING ON
TRANSFEREES OF THESE SHARES.

          1.13 Obligations of the Company — Cooperation. In the event of any underwritten
public offering undertaken pursuant to Sections 1.2 or 1.4, the Company shall cooperate with the
Holders requesting registration pursuant to this Section, the underwriters participating in the
offering and their counsel in any due diligence investigation reasonably requested by the Holders
or the underwriters in connection therewith, and participate, to the extent reasonably requested by
the managing underwriter for the offering or the Holders, in efforts to sell the Registrable
Securities under the offering (including without limitation, participating in “roadshow” meetings
with prospective investors) that would be customary for underwritten primary offerings of a
comparable amount of equity securities by the Company.

ShoreTel (Series H) – Rights Agmt

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          1.14 Termination of Registration Rights. The obligations of the Company pursuant
to this Section 1 shall terminate with respect to any Holder on the earlier of (i) the date five
(5) years after the closing of the Qualified IPO, or (ii) with respect to a Holder that, together
with its Affiliates, holds less than 1% of the outstanding common stock, the date on which such
Holder can sell all of his/her remaining Registrable Securities under Rule 144 during any three (3)
month period.

     2. Investors’ Right of First Offer.

          2.1 If, at any time prior to the termination of this right of first offer pursuant to Section
2.6, the Company should desire to issue in a transaction not registered under the Securities Act in
reliance upon a claimed exemption thereunder, any Equity Securities (as hereinafter defined), it
shall give each Investor the right to purchase such Investor’s pro rata share (or any part thereof)
of all of such privately offered Equity Securities on the same terms as the Company is willing to
sell such Equity Securities to any other person. Each Investor’s pro rata share of the Equity
Securities shall be equal to that percentage of the outstanding Common Stock then held by such
Investor. For purposes of this Section 2.1, the outstanding Common Stock shall include (a)
outstanding shares of Common Stock, and (b) shares of Common Stock issued or issuable upon exercise
and/or conversion of any then outstanding options (which are fully vested), warrants or shares of
the Preferred Stock.

          2.2 Prior to any sale or issuance by the Company of any Equity Securities, the Company shall
notify each Investor in writing of its intention to sell and issue such securities, setting forth
the terms under which it proposes to make such sale. Within twenty (20) days after receipt of such
notice, each Investor shall notify the Company in writing whether such Investor desires to exercise
the option to purchase such Investor’s pro rata share (or any part thereof) of

          the Equity Securities so offered. If an Investor elects to purchase such Investor’s pro rata
share, then such Investor shall have a right of over-allotment such that if any other Investor
fails to purchase such Investor’s pro rata share of the Equity Securities, such Investor(s) who
have elected to purchase their pro rata shares may purchase, on a pro rata basis, that portion of
the Equity Securities which such other Investors elected not to purchase.

          2.3 After termination of the twenty (20) day period specified in Section 2.2 above, the
Company may, during a period of ninety (90) days following the end of such twenty (20) day period,
sell and issue such Equity Securities as to which (a) the Investors have no right under this
Section 2 to purchase, and (b) the Investors do not indicate a desire to purchase, to another
person upon the same terms and conditions as those set forth in the notice to the Investors. In
the event the Company has not sold the Equity Securities, or has not entered into an agreement to
sell the Equity Securities, within said ninety (90) day period, the Company shall not thereafter
issue or sell any Equity Securities without first offering such securities to the Investors in the
manner provided above.

          2.4 If an Investor gives the Company written notice that such Investor desires to purchase any
of the Equity Securities offered by the Company, payment for the Equity Securities shall be by
check, or wire transfer, against delivery of the Equity Securities at the executive offices of the
Company within ten (10) days after giving the Company such notice, or, if later, the closing date
for the sale of such Equity Securities. The Company shall take all such

ShoreTel (Series H) – Rights Agmt

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actions as may be required by any regulatory authority in connection with the exercise by
an Investor of the right to purchase Equity Securities as set forth in this Section 2.

          2.5 The following shall not be deemed “Equity Securities”, and the right of first offer
contained in this Section 2 shall not apply to the issuance by the Company of the following: (a)
shares of Common Stock (and/or options, warrants and/or rights therefor) granted, issued or sold to
employees, consultants, advisors, directors or officers of the Company or any subsidiary of the
Company pursuant to stock grant, stock purchase and/or stock option plans, warrants, stock bonuses
or awards, or any other stock incentive program, agreement or arrangement approved by the Board of
Directors, (b) shares of Common Stock or Preferred Stock issuable upon exercise of any options,
warrants or rights to purchase any securities of the Company outstanding as of the date hereof, and
any securities issuable upon the conversion thereof, (c) shares of Common Stock or Preferred Stock
(and/or options, warrants and/or rights therefor) issued by the Company as part of bona fide
acquisitions by the Company of all or substantially all of the assets or shares of other companies
or entities whether through a merger, exchange, reorganization or the like, in each case which
transaction is approved by the Board of Directors, (d) shares of Common Stock or Preferred Stock
(and/or options, warrants and/or rights therefor) issued by the Company pursuant to financial
institutions or lessors in connection with commercial credit arrangements, equipment financing or
leasing arrangements, leases of real or personal property, or in connection with strategic
transactions involving the Company (including without limitation joint ventures, manufacturing,
marketing and distribution arrangements, and
technology transfer and development arrangements), in each case which transaction or
arrangement is approved by the Board of Directors and the principal purpose thereof is not to raise
additional equity capital for the Company, (e) shares of Series H Preferred Stock issued pursuant
to the Series H Agreement, (f) shares of Common Stock issued upon conversion of shares of the
Preferred Stock outstanding as of the date hereof, or upon conversion of shares of Series H
Preferred Stock issued pursuant to the Series H Agreement, (g) shares of Common Stock or Preferred
Stock (and/or options, warrants and/or rights therefor) issued in connection with any stock split,
stock dividend, recapitalization or similar event, or (h) shares of Common Stock (and/or options,
warrants and/or rights therefor) issued in connection with an underwritten public offering of
shares of the Company’s capital stock.

          2.6 The right of first offer contained in this Section 2 shall terminate upon the earliest to
occur of (a) the consummation of the Qualified IPO or (b) the closing of (i) a merger or
consolidation of the Company with or into any other corporation in which the Company’s shareholders
shall own less than 50% of the voting securities of the surviving corporation, (ii) a sale,
transfer, or disposition of all or substantially all of the assets of the Company, or (iii) the
grant by the Company of an exclusive license of all or substantially all of the Company’s material
intellectual property assets.

          2.7 The term “Equity Securities” shall mean (a) Common Stock or Preferred Stock, or equity
security and rights, options or warrants to purchase Common Stock or Preferred Stock or equity
security, (b) any security other than Common Stock or Preferred Stock having voting rights in the
election of the Board of Directors, not contingent upon a failure to pay dividends, (c) any
security convertible into or exchangeable for any of the foregoing, and (d) any agreement or
commitment to issue any of the foregoing.

ShoreTel (Series H) – Rights Agmt

-15-

 

          2.8 An Investor’s right to purchase any Equity Securities pursuant to this Section 2 may
be assigned by an Investor to an Affiliate of an Investor.

     3. Information Rights.

          3.1 Annual Financial Information; Business Plan; Budget. As soon as practicable after
the end of each fiscal year, and in any event within ninety (90) days thereafter, the Company will
furnish to each Investor, audited financial statements, including consolidated balance sheets of
the Company and its subsidiaries, if any, as at the end of such fiscal year and consolidated
statements of income and surplus and consolidated statements of changes in financial position of
the Company and its subsidiaries, if any, for such year, prepared in accordance with generally
accepted accounting principles. Not later than thirty (30) days prior to

          the beginning of each fiscal year of the Company, the Company will deliver to each Investor
the Company’s business plan and projected operating budget for the next fiscal year.

          3.2 Quarterly Financial Information. As soon as available and in any event within
forty-five (45) days after each quarterly accounting period, the Company will furnish to each
Investor quarterly financial statements of the Company, including a balance sheet, profit and loss
statement, cash flow analysis and a comparison to budget.

          3.3 Inspection. The Company shall permit each Investor, at such Investor’s expense,
to visit and inspect the Company’s properties, to examine its books of account and records and to
discuss the Company’s affairs, finances and accounts with its officers, all at such reasonable
times as may be requested by the Investor; provided, however, that the Company
shall not be obligated pursuant to this Section 3.3 to provide access to any information that it
reasonably considers to be a trade secret or similar confidential information.

          3.4 Other Information. For so long as any Investor holds at least 1,000,000 shares of
Preferred Stock (or an equivalent amount of Common Stock issued upon conversion thereof, as
adjusted for stock splits, combinations, and the like), the Company shall make available to such
Investor such other information relating to the Company’s financial condition, business prospects,
or corporate affairs as such Investor may from time to time reasonably request.

          3.5 Confidentiality of Information. Each Investor agrees that any information
obtained by it pursuant to Sections 3.1, 3.2, 3.3 and 3.4 will not be disclosed to any person or
entity without the prior written consent of the Company; provided, however, that
such consent shall not be unreasonably withheld and that notwithstanding the foregoing, each
Investor may disclose such information without the prior written consent of the Company to its
members, partners, shareholders, legal counsel, professional accountants, investment advisor,
associates or employees in order to evaluate this investment and as may be necessary to continue to
evaluate the Company and provided further, that any Investor may provide financial information to
its partners or members as required by any partnership agreement or limited liability operating
agreement. Each Investor agrees that any recipient of information obtained by the Investor
pursuant to Sections 3.1, 3.2, 3.3 and 3.4 shall agree to be bound by the provisions of this
Section 3.5 respect to such information. Each Investor’s obligations under this Section 3.5 shall
not apply to any information which:

ShoreTel (Series H) – Rights Agmt

-16-

 

          (a) was in the public domain at the time it was communicated to the Investor by the
Company;

          (b) entered the public domain subsequent to the time it was communicated to the Investor
through no fault of the Investor;

          (c) was in the Investor’s possession free of any obligation of confidence at the time it
was communicated to the Investor by the Company;

          (d) was rightfully communicated to the Investor by a third party free of any obligation of
confidence subsequent to the time it was communicated to the Investor by the Company;

          (e) was disclosed by the Investor in response to a valid order by a court or other
governmental body, was otherwise required to be disclosed by law, or was necessary to establish
the rights of either party under this Rights Agreement; or

          (f) was independently developed by the Investor without using the confidential information
of the Company.

          3.6 Termination of Covenants. The covenants set forth in Sections 3.1, 3.2, 3.3 and
3.4 shall terminate and be of no further force and effect upon the earlier to occur of (a) the
Qualified IPO or (b) upon any merger or consolidation of the Company with any other corporation in
which the shareholders of the Company immediately prior to such transaction shall own less than 50%
of the voting securities of the surviving corporation.

     4. General.

          4.1 Waivers and Amendments. With the written consent of the record or beneficial
holders of at least a majority of the Registrable Securities (other than Registrable Securities
consisting of Common Stock held by the Common Holders), the obligations of the Company and the
rights of the parties under this agreement may be waived (either generally or in a particular
instance, either retroactively or prospectively, and either for a specified period of time or
indefinitely), and with the same consent the Company, when authorized by resolution of its Board of
Directors, may enter into a supplementary agreement for the purpose of adding any provisions to or
changing in any manner or eliminating any of the provisions of this Rights Agreement;
provided, however, that no such modification, amendment or waiver shall adversely
affect the rights of the Common Holders under this Rights Agreement with respect to shares of
Common Stock held by such Common Holders without the prior written consent of the record or
beneficial holders of at least a majority of the shares of outstanding Common Stock then held by
the Common Holders. Upon the effectuation of each such waiver, consent, agreement of amendment or
modification, the Company shall promptly give written notice thereof to the record holders of the
Registrable Securities who have not previously consented thereto in writing. This Rights Agreement
or any provision hereof may be changed, waived, discharged or terminated only by a statement in
writing signed by the party against which enforcement of the change, waiver, discharge or
termination is sought, except to the extent provided in this Section 4.1.

ShoreTel (Series H) – Rights Agmt

-17-

 

          4.2 Employee Agreements. Unless otherwise approved by the Board of Directors,
all current and future officers and employees of (except for the Common Holders) and consultants to
the Company who shall purchase (other than by exercise of stock options meeting the requirements of
this Section 4.2), or receive options to purchase, shares of Common Stock following the date hereof
shall be required to (i) execute stock purchase or option agreements providing for (x) in the case
of initial grants to individuals, vesting of shares over a four-year period with the first 25% of
such shares vesting following twelve (12) months of continued employment or services, and the
remaining shares vesting thereafter at the rate of 1/48 at the end of each month until all of the
shares are vested; or (y) in the case of merit grants vesting at the rate of 1/48 at the end of
each month; or (z) as otherwise approved by the Board of Directors, and (ii) enter into a “market
stand-off” agreement as provided in Section 1.12 hereof.

          4.3 Aggregation of Stock. All Registrable Securities held or acquired by Affiliates
shall be aggregated together for the purpose of determining the availability of any rights under
this Agreement.

          4.4 Governing Law. This Rights Agreement shall be governed in all respects by the
laws of the State of California as such laws are applied to agreements between California residents
entered into and to be performed entirely within California.

          4.5 Successors and Assigns. Except as otherwise expressly provided herein, the
provisions hereof shall inure to the benefit of, and be binding upon, the successors, assigns,
heirs, executors and administrators of the parties hereto.

          4.6 Entire Rights Agreement. Except as set forth below, this Rights Agreement and the
other documents delivered pursuant hereto constitute the full and entire understanding and
agreement between the parties with regard to the subjects hereof and thereof, and this Rights
Agreement shall supersede and cancel all prior agreements between the parties hereto with regard to
the subject matter hereof, including but not limited to the Prior Rights Agreement.

          4.7 Notices. All notices and other communications required or permitted hereunder
shall be in writing and shall be delivered by overnight courier service or mailed by first class
mail, postage prepaid, certified or registered mail, return receipt requested, addressed (a) if to
any Investor, at such party’s address as set forth in the Company’s records, or at such other
address as such party shall have furnished to the Company in writing, or (b) if to the Company,
attention Chief Financial Officer, ShoreTel, Inc., 960 Stewart Drive, Sunnyvale, California 94085,
Facsimile: (408) 331-3333, or at such other address as the Company shall have furnished to the
Investor in writing.

          4.8 Severability. In case any provision of this Rights Agreement shall be invalid,
illegal, or unenforceable, the validity, legality and enforceability of the remaining
provisions of this Rights Agreement or any provision of the other agreements among the
Investors and the Company shall not in any way be affected or impaired thereby.

ShoreTel (Series H) – Rights Agmt

-18-

 

          4.9 Titles and Subtitles. The titles of the sections and Sections of this Rights
Agreement are for convenience of reference only and are not to be considered in construing this
Rights Agreement.

          4.10 Counterparts and Facsimile Signature. This Rights Agreement may be executed in
any number of counterparts, each of which shall be an original, but all of which together shall
constitute one instrument. This Agreement may be executed and delivered by facsimile or electronic
mail and upon such delivery the facsimile or electronic signature will be deemed to have the same
effect as if the original signature had been delivered to the other party.

[Signature Page Follows]

ShoreTel (Series H) – Rights Agmt

-19-

 

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

THE COMPANY:

SHORETEL, INC.

	 	 	 	 	 
	By:

	 	/s/ John W. Combs
	 	 
	 

	 	 	 	 
	 

	 	John W. Combs,
	 	 
	 

	 	Chief Executive Officer	 	 

[Signature page to Seventh Amended and Restated Rights Agreement]

ShoreTel (Series H) – Rights Agmt

 

 

INVESTORS:

	 	 	 	 	 
	 	 	CROSSPOINT VENTURE PARTNERS 2000 Q, L.P.
	 
	 	 	 	 
	 

	 	Signature:
	 	/s/ Seth D. Neiman
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Print Name:
	 	Seth Neiman
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Print Title:
	 	Managing Partner
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	CROSSPOINT VENTURE PARTNERS 2000, L.P.
	 
	 	 	 	 
	 

	 	Signature:
	 	/s/ Seth D. Neiman
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Print Name:
	 	Seth Neiman
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Print Title:
	 	Managing Partner
	 

	 	 	 	 

	 	 	 	 	 
	 	 	CROSSPOINT VENTURE PARTNERS 1996
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Seth D. Neiman
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	Seth Neiman
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:
	 	Managing Partner
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	CROSSPOINT VENTURE PARTNERS LS2000 LP
	 
	 	 	 	 
	 

	 	By: :
	 	/s/ Seth D. Neiman
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name :
	 	Seth Neiman
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:
	 	Managing Partner
	 

	 	 	 	 

[Signature page to Seventh Amended and Restated Rights Agreement]

ShoreTel (Series H) – Rights Agmt

 

 

	 	 	 	 	 
	 	 	LBI GROUP INC.
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	LEHMAN BROTHERS P.A. LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 

[Signature page to Seventh Amended and Restated Rights Agreement]

ShoreTel (Series H) – Rights Agmt

 

 

	 	 	 	 	 
	 	 	LEHMAN BROTHERS VENTURE CAPITAL PARTNERS II, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Lehman Brothers Venture Associates II LLC, its General Partner
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	LEHMAN BROTHERS PARTNERSHIP
	 	 	ACCOUNT 2000/2001, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Lehman Brothers Partnership GP 2000/2001, L.P.,

 its General Partner
	 

	 	By:
	 	LB I Group Inc., its General Partner
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	LEHMAN BROTHERS OFFSHORE 

PARTNERSHIP ACCOUNT 2000/2001, L.P.
	 

	 	By:
	 	Lehman Brothers Offshore Partnership GP

 2000/2001, L.P., its General Partner
	 

	 	By:
	 	Lehman Brothers Offshore Partners Ltd., its General Partner
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:
	 	Brian Paul
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	 
	 

	 	 	 	 

[Signature page to Seventh Amended and Restated Rights Agreement]

ShoreTel (Series H) – Rights Agmt

 

 

	 	 	 	 	 
	 	 	FOUNDATION CAPITAL, L.P.
	 

	 	By: Foundation Capital Management, LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Kathryn Gould
	 

	 	 	 	 
	 

	 	 	 	Manager
	 
	 	 	 	 
	 

	 	 	 	FOUNDATION CAPITAL
	 

	 	 	 	ENTREPRENEURS FUND, LLC

	 

	 	 	 	By: Foundation Capital Management, LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Kathryn Gould
	 

	 	 	 	 
	 

	 	 	 	Manager
	 
	 	 	 	 
	 

	 	 	 	FOUNDATION CAPITAL LEADERSHIP FUND, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	FC Leadership Management Co., LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Kathryn Gould
	 

	 	 	 	 
	 

	 	 	 	Manager
	 
	 	 	 	 
	 

	 	 	 	FOUNDATION CAPITAL LEADERSHIP 

PRINCIPALS FUND, LLC
	 

	 	By:
	 	FC Leadership Management Co., LLC
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Kathryn Gould
	 

	 	 	 	 
	 

	 	 	 	Manager

[Signature page to Seventh Amended and Restated Rights Agreement]

ShoreTel (Series H) – Rights Agmt

 

 

	 	 	 	 	 
	 	 	J.P. MORGAN DIRECT VENTURE CAPITAL
	 	 	INSTITUTIONAL INVESTORS LLC
	 

	 	By:
	 	JPMorgan Chase Bank (as investment advisor)
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Julian Shles
	 

	 	 	 	 
	 

	 	 	 	Julian Shles, Managing Director
	 
	 	 	 	 
	 	 	J.P. MORGAN DIRECT VENTURE CAPITAL
	 	 	PRIVATE INVESTORS LLC
	 

	 	By:
	 	J.P. Morgan Investment Management Inc.
	 

	 	 	 	(as investment advisor)
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Julian Shles
	 

	 	 	 	 
	 

	 	 	 	Julian Shles, Managing Director
	 
	 	 	 	 
	 	 	522 FIFTH AVENUE FUND, L.P.
	 	 	(2004 PROGRAM)
	 

	 	By:
	 	J.P. Morgan Investment Management Inc.
	 

	 	 	 	(as investment advisor)
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Julian Shles
	 

	 	 	 	 
	 

	 	 	 	Julian Shles, Managing Director

[Signature page to Seventh Amended and Restated Rights Agreement]

ShoreTel (Series H) – Rights Agmt

 

 

	 	 	 	 	 
	 	 	 
	 	                                                   /s/ Rusty Thomas
 	 
	 	Rusty Thomas 	 
	 	 	 
	 

[Signature page to Seventh Amended and Restated Rights Agreement]

ShoreTel (Series H) – Rights Agmt

 

 

EXHIBIT A

INVESTORS

Crosspoint Venture Partners 1996

Crosspoint Venture Partners LS2000 L.P.

Crosspoint Venture Partners 2000 Q L.P.

Crosspoint Venture Partners 2000 L.P.

2925 Woodside Road

Woodside, CA 94062

Attn: Mr. Seth Neiman

LB I Group Inc.

Lehman Brothers P.A. LLC

Lehman Brothers Venture Capital Partners II, L.P.

Lehman Brothers Partnership Account 2000/2001, L.P.

Lehman Brothers Offshore Partnership Account 2000/2001, L.P.

c/o Lehman Brothers

155 Linfield Drive

Menlo Park, CA 94025

Attn: Mr. Brian Paul

Foundation Capital, L.P.

Foundation Capital Entrepreneurs Fund, LLC

Foundation Capital Leadership Fund, L.P.

Foundation Capital Leadership Principals Fund, LLC

70 Willow Road, Suite 200

Menlo Park, CA 94025

Attn: Mr. Bill Elmore

J.P. Morgan Direct Venture Capital Institutional Investors LLC

J.P. Morgan Direct Venture Capital Private Investors LLC

522 Fifth Avenue Fund, L.P.

522 Fifth Avenue

New York, NY 10036

Attn: Mr. Jarrod Fong

Focus Ventures, L.P.

Focus Ventures Co-Investment Fund, L.P.

FV Investors, L.P.

525 University Avenue, Suite 1400

Palo Alto, CA 94301

Attn: Mr. Steven Bird

Matrix Partners IV, L.P.

Matrix IV Entrepreneurs Fund, L.P.

2500 Sand Hill Road, Suite 200

Menlo Park, CA 94025

Attn: Mr. Shirish Sathaye

ShoreTel (Series H) – Rights Agmt

 

 

Norwest Venture Partners VI, L.P.

525 University Avenue, Suite 800

Palo Alto, CA 94301

Attn: Mr. Matt Howard

JAFCO Co., LTD.

JAFCO R-3 Investment Enterprise Partnership

JAFCO JS-3 Investment Enterprise Partnership

JAFCO G-6(A) Investment Enterprise Partnership

JAFCO G-6(B) Investment Enterprise Partnership

JAFCO G-7(A) Investment Enterprise Partnership

JAFCO G-7(B) Investment Enterprise Partnership

JAFCO America Ventures Inc.

U.S. Information Technology No. 2 Investment Enterprise Partnership

505 Hamilton Avenue, Suite 310

Palo Alto, CA 94301

Attn: Mr. David Polifko

Silicon Valley Bank

2400 Geng Road, Suite 200

Palo Alto, CA 94303

Attn: Raelene Enos

WS Investment 97A

WS Investment 99B

650 Page Mill Road

Palo Alto, CA 94304

Attn: Mr. Jim Terranova

Thomas van Overbeek

c/o ShoreTel, Inc.

960 Stewart Drive

Sunnyvale, CA 94086

Edwin Basart

c/o ShoreTel, Inc.

960 Stewart Drive

Sunnyvale, CA 94086

Rusty Thomas

c/o ShoreTel, Inc.

960 Stewart Drive

Sunnyvale, CA 94086

John Fazio

20884 Sarahills Drive

Saratoga, CA 95070

Michael Harrigan

c/o ShoreTel, Inc.

960 Stewart Drive

Sunnyvale, CA 94086

ShoreTel (Series H) – Rights Agmt

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