Document:

Exhibit 10.12

 

Restricted Stock Agreement

under the GHP Acquisition Corp.

2003 Stock Option and Grant Plan

 

	
  Name of Grantee:

  	
   

  	
  Kenneth
  Keller (the “Grantee”)

  
	
   

  	
   

  	
   

  
	
  No. of Shares:

  	
   

  	
  23,800
  Shares of Common Stock

  
	
   

  	
   

  	
   

  
	
  Grant Date:

  	
   

  	
  August 28,
  2003 (the “Grant Date”)

  
	
   

  	
   

  	
   

  
	
  Per Share Purchase Price:

  	
   

  	
  $.01
  (the “Per Share Purchase Price”)

  

 

Pursuant
to the GHP Acquisition Corp. 2003 Stock Option and Grant Plan (the “Plan”), GHP
Acquisition Corp., a Delaware corporation (together with its successors, the
“Company”), hereby grants, sells and issues to the individual named above, who
is an officer, employee, director, consultant or other key person of the
Company or any of the Subsidiaries, the Shares (as defined below) at the Per
Share Purchase Price, which represents the fair market value per share on the
Grant Date, subject to the terms and conditions set forth herein and in the
Plan.  The Grantee agrees to the provisions set forth herein and
acknowledges that each such provision is a material condition of the Company’s
agreement to issue and sell the Shares to him or her.  The Company hereby
acknowledges receipt of $238 in full payment for the Shares.  All
references to share prices and amounts herein shall be equitably adjusted to
reflect stock splits, stock dividends, recapitalizations, mergers,
reorganizations and similar changes affecting the capital stock of the Company,
and any shares of capital stock of the Company received on or in respect of
Shares in connection with any such event (including any shares of capital stock
or any right, option or warrant to receive the same or any security convertible
into or exchangeable for any such shares or received upon conversion of any
such shares) shall be subject to this Agreement on the same basis and extent at
the relevant time as the Shares in respect of which they were issued, and shall
be deemed Shares as if and to the same extent they were issued at the date
hereof.

 

1.                                     
Definitions.  For the purposes of this
Agreement, the following terms shall have the following respective
meanings.  All capitalized terms used herein and not otherwise defined
shall have the respective meanings set forth in the Plan.

 

An
“Affiliate” of any Person means a Person that directly or indirectly,
through one or more intermediaries, controls, is controlled by or is under
common control with the first mentioned Person.  A Person shall be deemed
to control another Person if such first Person possesses directly or indirectly
the power to direct, or cause the direction of, the management and policies of
the second Person, whether through the ownership of voting securities, by
contract or otherwise.

 

 

“Bankruptcy”
shall mean (i) the filing of a voluntary petition under any bankruptcy or insolvency
law, or a petition for the appointment of a receiver or the making of an
assignment for the benefit of creditors, with respect to the Grantee or any
Permitted Transferee, or (ii) the Grantee or any Permitted Transferee being
subjected involuntarily to such a petition or assignment or to an attachment or
other legal or equitable interest with respect to the Grantee’s or the
Permitted Transferee’s assets, which involuntary petition or assignment or
attachment is not discharged within 60 days after its date, and (iii) the
Grantee or any Permitted Transferee being subject to a transfer of Shares by
operation of law (including by divorce, even if not insolvent), except by
reason of death.

 

“Cause”
shall mean (i) dishonest statements or acts of the Grantee with respect to the
Company or any affiliate of the Company where such act causes material harm to
the Company; (ii) the conviction of the Grantee for (A) any felony, or (B) any
misdemeanor involving moral turpitude, deceit, dishonesty or fraud; or (iii) gross
negligence, willful misconduct or insubordination of the Grantee with respect
to the Company or any affiliate of the Company where such act causes material
harm to the Company.

 

“Common
Stock” shall mean the Company’s Common Stock, par value $0.01 per share,
together with any shares into which Common Stock may be converted or exchanged,
as provided above and herein.

 

“Constructive
Termination” shall mean (i) a reduction in the Grantee’s salary; or (ii)
the relocation of the Grantee’s principal Company office to a location more
that sixty (60) miles from Brisbane, California.

 

“Permitted
Transferees” shall mean any of the following to whom the Grantee may
transfer Shares hereunder (as set forth in Section 4):  the Grantee’s
spouse, children (natural or adopted), stepchildren or a trust for their sole
benefit of which the Grantee is the settlor; provided, however,
that any such trust does not require or permit distribution of any Shares
during the term of this Agreement unless subject to its terms.  Upon the
death of the Grantee (or a Permitted Transferee to whom shares have been
transferred hereunder), the term Permitted Transferees shall also include such
deceased Grantee’s (or such deceased Permitted Transferee’s) estate,
executions, administrations, personal representations, heirs, legatees and
distributees, as the case may be.

 

“Person”
shall mean any individual, corporation, partnership (limited or general),
limited liability company, limited liability partnership, association, trust,
joint venture, unincorporated organization or any similar entity.

 

“Restricted
Shares” shall initially mean 20,000 Shares being purchased by the Grantee
on the date hereof, provided that on each of the dates listed below, the
respective number of Shares indicated below shall become Vested Shares if
Grantee remains an employee on each such date.  Three Thousand Eight
Hundred (3,800) Shares shall be Vested Shares as of the date hereof and not
subject to the restrictions of Restricted Shares.

 

2

 

	
  Vesting
  Date

  	
   

  	
  Number
  of Shares

  Becoming

  Vested

  	
   

  	
  Cumulative

  Number Vested

  	
   

  
	
  August 28, 2004

  	
   

  	
  5,000

  	
   

  	
  8,800

  	
   

  	
   

  
	
  August 28, 2005

  	
   

  	
  5,000

  	
   

  	
  13,800

  	
   

  	
   

  
	
  August 28, 2006

  	
   

  	
  5,000

  	
   

  	
  18,800

  	
   

  	
   

  
	
  August 28, 2007

  	
   

  	
  5,000

  	
   

  	
  23,800

  	
   

  	
   

  

 

Notwithstanding the
foregoing, as of the effective date of any Sale Event (as defined in the
Stockholders Agreement), the remainder of the Restricted Shares listed above
which is then unvested shall vest and be deemed Vested Shares.

 

“Shares”
shall mean the number of shares of Common Stock being purchased by the Grantee
on the date hereof and any additional shares of Common Stock or other
securities received in respect of the Shares, as a dividend on, or otherwise on
account of, the Shares.

 

“Termination
Event” shall mean the termination of the Grantee’s employment with the
Company and its subsidiaries for any reason whatsoever, except for a
termination of Grantee’s employment with the Company with or without Cause or a
Constructive Termination.

 

“Vested
Shares” shall mean all Shares which are not Restricted Shares.

 

2.                                     
Purchase and Sale
of Shares; Investment Representations.

 

(a)                                 
Purchase
and Sale.  On the date hereof, the Company hereby sells to the
Grantee, and the Grantee hereby purchases from the Company, the number of
Shares set forth above for the Per Share Purchase Price.

 

(b)                                
Investment
Representations.  In connection with the purchase and sale of the
Shares contemplated by Section 2(a) above, the Grantee hereby represents
and warrants to the Company as follows:

 

(i)                                    
The
Grantee is purchasing the Shares for the Grantee’s own account for investment
only, and not for resale or with a view to the distribution thereof.

 

(ii)                                 
The
Grantee has had such an opportunity as he or she has deemed adequate to obtain
from the Company such information as is necessary to permit him or her to
evaluate the merits and risks of the Grantee’s investment in the Company and
has consulted with the Grantee’s own advisers with respect to the Grantee’s
investment in the Company.

 

(iii)                              
The
Grantee has sufficient experience in business, financial and investment matters
to be able to evaluate the risks involved in the purchase of the Shares and to
make an informed investment decision with respect to such purchase.

 

(iv)                             
The
Grantee can afford a complete loss of the value of the Shares and is able to
bear the economic risk of holding such Shares for an indefinite period.

 

3

 

(v)                                
The
Grantee understands that the Shares are not registered under the Act (it being
understood that the Shares are being issued and sold in reliance on the
exemption provided in Rule 701 thereunder) or any applicable state securities
or “blue sky” laws and may not be sold or otherwise transferred or disposed of
in the absence of an effective registration statement under the Act and under
any applicable state securities or “blue sky” laws (or exemptions from the
registration requirements thereof).  The Grantee further acknowledges that
certificates representing the Shares will bear restrictive legends reflecting
the foregoing.

 

3.                                     
Repurchase Right.

 

(a)                                 
Termination
Event.  Upon the occurrence of a Termination Event, the Company or its
assigns shall have the right and option to repurchase all or any portion of the
Restricted Shares held by the Grantee or any Permitted Transferee as of the
date of such Termination Event.  The per share purchase price of the
Restricted Shares subject to repurchase in accordance with this
Section 3(a) shall be the Per Share Purchase Price.

 

(b)                                
Bankruptcy
of the Grantee.  Upon the occurrence of a Bankruptcy of the Grantee,
the Company or its assigns shall have the right and option to repurchase all or
any portion of the Shares held by the Grantee or any Permitted Transferee as of
the date of such Bankruptcy.  In addition, upon the Bankruptcy of any of
the Grantee’s Permitted Transferees, the Company or its assigns shall have the
right and option to repurchase all or any portion of the Shares held by such
Permitted Transferee as of the date of such Bankruptcy.  The per share
purchase price of the Shares subject to repurchase in accordance with this
Section 3(b) shall be the fair market value of the Shares.

 

(c)                                 
Constructive
Termination and Termination Without Cause.  Upon the termination of the
Grantee’s employment with the Company (i) without Cause, or (ii) as a result of
a Constructive Termination, the Company or its assigns shall have the right and
option to repurchase all or any portion of the Restricted Shares held by the
Grantee or any Permitted Transferees as of the date of such termination. 
The per share purchase price of the Restricted Shares subject to repurchase in
accordance with this Section 3(c) shall be the Per Share Purchase Price.

 

(d)                                
Termination
With Cause.  Upon the termination of the Grantee’s employment
with the Company with Cause the Company or its assigns shall have the right and
option to repurchase all or any portion of the Shares held by the Grantee or
any Permitted Transferees as of the date of such termination.  The per
share purchase price of the Shares subject to repurchase in accordance with
this Section 3(d) shall be the Per Share Purchase Price.

 

(e)                                 
Closing
Procedure.  The Company or its assigns shall effect the
Repurchase (if so elected) by delivering or mailing to the Grantee (and/or, if
applicable, any Permitted Transferees) written notice within six (6) months
after the Termination Event or Bankruptcy, specifying a date within such
six-month period in which the Repurchase shall be effected.  Upon such
notification, the Grantee and any Permitted Transferees shall promptly
surrender to the Company any certificates representing the Shares being
purchased, together with

 

4

 

a duly executed stock power
for the transfer of such Shares to the Company or the Company’s assignee or
assignees.  Upon the Company’s or its assignee’s receipt of the
certificates from the Grantee or any Permitted Transferees, the Company or its
assignee or assignees shall deliver to him, her or them a check for the Repurchase
Price of the Shares being purchased, provided, however, that the
Company may pay the Repurchase Price for such shares by offsetting and
canceling any indebtedness then owed by the Grantee to the Company.  At
such time, the Grantee and/or any holder of the Shares shall deliver to the
Company the certificate or certificates representing the Shares so repurchased,
duly endorsed for transfer, free and clear of any liens or encumbrances. 
The Repurchase right specified herein shall survive and remain in effect as to
Restricted Shares following and notwithstanding any public offering by or
merger or other transaction involving the Company and certificates representing
such Restricted Shares shall bear legends to such effect, subject to
Section 10(b) below.

 

4.                                     
Restrictions on
Transfer of Shares.  The Grantee and
each Permitted Transferee, as applicable, and the Shares owned by the Grantee
and each Permitted Transferee, as applicable, shall be subject to the
restrictions on transfer of the Shares set forth in Section III of that
certain Stockholders Agreement, dated as of the date hereof, by and among the
Company, the Grantee and the parties named therein (the “Stockholders
Agreement”).

 

5.                                     
Drag Along Right.  The Grantee and each Permitted
Transferee, as applicable, and the Shares owned by the Grantee and each
Permitted Transferee, as applicable, shall be subject to the Drag-Along
obligation set forth in Section 4.1 of the Stockholders Agreement.

 

6.                                     
Legend.  Any certificate(s) representing the
Shares shall carry substantially the following legend:

 

“The transferability of this
certificate and the shares of stock represented hereby are subject to the restrictions,
terms and conditions (including repurchase and restrictions against transfers)
contained in a certain Restricted Stock Agreement dated August 28, 2003
between the Company and the holder of this certificate (a copy of which is
available at the offices of the Company for examination).”

 

“The shares represented by
this certificate have not been registered under the Securities Act of 1933 or
the securities laws of any state.  The shares may not be sold or
transferred in the absence of such registration or an exemption from
registration.”

 

7.                                     
Escrow Arrangement.

 

(a)                                 
Escrow.  In order to
carry out the provisions of Sections 3, 4 and 5 of this Agreement more
effectively, the Company shall hold the Shares in escrow together with separate
stock powers executed by the Grantee in blank for transfer, and any Permitted
Transferee shall, as an additional condition to any transfer of Shares, execute
a like stock power as to such Shares.  The Company shall not dispose of
the Shares except as otherwise provided in this Agreement.  In

 

5

 

the event of any repurchase
by the Company (or any of its assigns), the Company is hereby authorized by the
Grantee and any Permitted Transferee, as the Grantee’s and each such Permitted
Transferee’s attorney-in-fact, to date and complete the stock powers necessary
for the transfer of the Shares being purchased and to transfer such Shares in
accordance with the terms hereof.  At such time as any Shares are no
longer subject to the Company’s repurchase, first refusal and drag along
rights, the Company shall, at the written request of the Grantee, deliver to
the Grantee (or the relevant Permitted Transferee) a certificate representing
such Shares with the balance of the Shares (if any) to be held in escrow
pursuant to this Section 7.

 

(b)                                
Remedy.  Without
limitation of any other provision of this Agreement or other rights, in the event
that the Grantee, any Permitted Transferees or any other person or entity is
required to sell the Grantee’s Shares pursuant to the provisions of
Section 3, 4 and 5 of this Agreement and in the further event that he or
she refuses or for any reason fails to deliver to the designated purchaser of
such Shares the certificate or certificates evidencing such Shares together
with a related stock power, such designated purchaser may deposit the
applicable purchase price for such Shares with a bank designated by the
Company, or with the Company’s independent public accounting firm, as agent or
trustee, or in escrow, for the Grantee, any Permitted Transferees or other
person or entity, to be held by such bank or accounting firm for the benefit of
and for delivery to him, her, them or it, and/or, in its discretion, pay such
purchase price by offsetting any indebtedness then owed by the Grantee as
provided above.  Upon any such deposit and/or offset by the designated
purchaser of such amount and upon notice to the person or entity who was
required to sell the Shares to be sold pursuant to the provisions of
Section 3, 4 and 5, such Shares shall at such time be deemed to have been
sold, assigned, transferred and conveyed to such purchaser, the holder thereof
shall have no further rights thereto (other than the right to withdraw the
payment thereof held in escrow, if applicable), and the Company shall record
such transfer in its stock transfer book or in any appropriate manner.

 

8.                                     
Withholding Taxes.  The Grantee acknowledges and agrees
that the Company or any of its Subsidiaries have the right to deduct from
payments of any kind otherwise due to the Grantee, or from the Shares held
pursuant to Section 7 hereof, the minimum federal, state or local taxes of
any kind required by law to be withheld with respect to the purchase of the
Shares by the Grantee.  In furtherance of the foregoing the Grantee agrees
to elect, in accordance with Section 83(b) of the Internal Revenue Code of
1986, as amended, to recognize ordinary income in the year of acquisition of
the Shares, and to pay to the Company all withholding taxes shown as due on his
or her Section 83(b) election form, or otherwise ultimately determined to
be due with respect to such election, based on the excess, if any, of the fair
market value of such Shares as of the date of the purchase of such Shares by
the Grantee over the purchase price for such Shares.

 

9.                                     
Assignment.  At the discretion of the
Board, the Company shall have the right to assign the right to exercise its
rights with respect to the Repurchase or pursuant to Section 4(c) to any
Person or Persons, in whole or in part in any particular instance, upon the
same terms and conditions applicable to the exercise thereof by the Company,
and such assignee or assignees of the Company shall then take and hold any
Shares so acquired subject to such terms as may be specified by the Company in
connection with any such assignment.

 

6

 

10.                              
Miscellaneous
Provisions.

 

(a)                                 
Lockup
provision.  The Grantee and each Permitted Transferee agree, to
be bound by the lockup provision of Section 12 of that certain
Registration Rights Agreement, dated as of the date hereof, by and among the
Company, the Grantee and the parties named therein (the “Registration Rights
Agreement”) as if such Grantee or Permitted Transferee, as applicable, were a
Stockholder (as defined in the “Registration Rights Agreement”).

 

(b)                                
Termination.  The Company’s
repurchase right with respect to Vested Shares under Section 3, the
restrictions on transfer of Shares under Section 4 and the Grantee’s Drag
Along obligations under Section 5 shall terminate upon the closing of the
Company’s Initial Public Offering or upon consummation of any Sale Event (as
defined in the Stockholders Agreement), in either case as a result of which
shares of the Company (or successor entity) of the same class as the Shares are
registered under Section 12 of the Exchange Act of 1934 and publicly
traded on NASDAQ/NMS or any national security exchange; provided, however,
that all other provisions shall remain in effect following the same until all
of the Shares have become Vested Shares.

 

(c)                                 
Record
Owner; Dividends.  The Grantee and any Permitted Transferees, during
the duration of this Agreement, shall be considered the record owners of and
shall be entitled to vote the Shares if and to the extent the Shares are
entitled to voting rights.  The Grantee and any Permitted Transferees
shall be entitled to receive all dividends and any other distributions declared
on the Shares; provided, however, that the Company is under no
duty to declare any such dividends or to make any such distribution.

 

(d)                                
Equitable
Relief.  The parties hereto agree and declare that legal remedies are
inadequate to enforce the provisions of this Agreement and that equitable
relief, including specific performance and injunctive relief, may be used to
enforce the provisions of this Agreement.

 

(e)                                 
Change
and Modifications.  This Agreement may not be orally changed, modified
or terminated, nor shall any oral waiver of any of its terms be effective. This
Agreement may be changed, modified or terminated only by an agreement in
writing signed by the Company and the Grantee.

 

(f)                                   
Governing
Law.  This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware without regard to conflict of law
principles.

 

(g)                                
Headings.  The headings
are intended only for convenience in finding the subject matter and do not
constitute part of the text of this Agreement and shall not be considered in
the interpretation of this Agreement.

 

(h)                                
Saving
Clause.  If any provision(s) of this Agreement shall be determined to be
illegal or unenforceable, such determination shall in no manner affect the
legality or enforceability of any other provision hereof.

 

7

 

(i)                                    
Notices.  All notices,
requests, consents and other communications shall be in writing and be deemed
given when delivered personally, by telex or facsimile transmission or when
received if mailed by first class registered or certified mail, postage prepaid. 
Notices to the Company or the Grantee shall be addressed as set forth
underneath their signatures below, or to such other address or addresses as may
have been furnished by such party in writing to the other.  Notices to any
holder of the Shares other than the Grantee shall be addressed to the address
furnished by such holder to the Company.

 

(j)                                    
Benefit
and Binding Effect.  This Agreement shall be binding upon and shall
inure to the benefit of the parties hereto, their respective successors,
assigns, and legal representatives.  Without limitation of the foregoing,
upon any stock-for-stock merger in which the Company is not the surviving
entity, shares of the Company’s successor issued in respect of the Shares shall
remain subject to vesting and the Repurchase right of first refusal
hereunder.  The Company has the right to assign this Agreement, and such
assignee shall become entitled to all the rights of the Company hereunder to
the extent of such assignment.

 

(k)                                 
Dispute
Resolution.  Except as provided below, any dispute arising out
of or relating to this Agreement or the breach, termination or validity hereof
shall be finally settled by binding arbitration conducted expeditiously in
accordance with the J.A.M.S./Endispute Comprehensive Arbitration Rules and
Procedures (the “J.A.M.S. Rules”).  The arbitration shall be governed by
the United States Arbitration Act, 9 U.S.C. §§1-16, and judgment upon the award
rendered by the arbitrators may be entered by any court having jurisdiction
thereof.  The place of arbitration shall be Delaware.

 

The
parties covenant and agree that the arbitration shall commence within 60 days
of the date on which a written demand for arbitration is filed by any party
hereto.  In connection with the arbitration proceeding, the arbitrator
shall have the power to order the production of documents by each party and any
third-party witnesses.  In addition, each party may take up to three
depositions as of right, and the arbitrator may in his or her discretion allow
additional depositions upon good cause shown by the moving party. 
However, the arbitrator shall not have the power to order the answering of
interrogatories or the response to requests for admission.  In connection
with any arbitration, each party shall provide to the other, no later than
seven (7) business days before the date of the arbitration, the identity of all
persons that may testify at the arbitration and a copy of all documents that
may be introduced at the arbitration or considered or used by a party’s witness
or expert.  The arbitrator’s decision and award shall be made and
delivered within six (6) months of the selection of the arbitrator.  The
arbitrator’s decision shall set forth a reasoned basis for any award of damages
or finding of liability.  The arbitrator shall not have power to award
damages in excess of actual compensatory damages and shall not multiply actual
damages or award punitive damages or any other damages that are specifically
excluded under this Agreement, and each party hereby irrevocably waives any
claim to such damages.

 

The
parties covenant and agree that they will participate in the arbitration in
good faith.  This Section 10(k) applies equally to requests for
temporary, preliminary or permanent injunctive relief, except that in the case
of temporary or preliminary injunctive relief any party

 

8

 

may proceed in court without
prior arbitration for the limited purpose of avoiding immediate and irreparable
harm.

 

Each
of the parties hereto (i) hereby irrevocably submits to the jurisdiction of any
United States District Court of competent jurisdiction for the purpose of
enforcing the award or decision in any such proceeding, (ii) hereby waives, and
agrees not to assert, by way of motion, as a defense, or otherwise, in any such
suit, action or proceeding, any claim that it is not subject personally to the
jurisdiction of the above-named courts, that its property is exempt or immune from
attachment or execution (except as protected by applicable law), that the suit,
action or proceeding is brought in an inconvenient forum, that the venue of the
suit, action or proceeding is improper or that this Agreement or the subject
matter hereof may not be enforced in or by such court, and hereby waives and
agrees not to seek any review by any court of any other jurisdiction which may
be called upon to grant an enforcement of the judgment of any such court. 
Each of the parties hereto hereby consents to service of process by registered
mail at the address to which notices are to be given.  Each of the parties
hereto agrees that its, his or her submission to jurisdiction and its, his or
her consent to service of process by mail is made for the express benefit of
the other parties hereto.  Final judgment against any party hereto in any
such action, suit or proceeding may be enforced in other jurisdictions by suit,
action or proceeding on the judgment, or in any other manner provided by or
pursuant to the laws of such other jurisdiction.

 

(l)                                    
Counterparts.  For the
convenience of the parties and to facilitate execution, this Agreement may be
executed in two or more counterparts, each of which shall be deemed an original,
but all of which shall constitute one and the same document.

 

[SIGNATURE PAGE FOLLOWS]

 

9

 

IN
WITNESS WHEREOF, the Company and the Grantee have executed this Restricted
Stock Agreement as of the date first above written.

 

	
   

  	
  COMPANY

  
	
   

  	
   

  
	
   

  	
  GHP
  ACQUISITION CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  CHRISTOPHER S. GAFFNEY

  
	
   

  	
   

  	
  Name:
  Christopher S. Gaffney

  
	
   

  	
   

  	
  Title:
  President

  
	
   

  	
   

  
	
   

  	
  GRANTEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/
  KENNETH H. KELLER

  
	
   

  	
  Kenneth
  Keller

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  3386
  Royal Meadow Ln

  
	
   

  	
   

  
	
   

  	
  San
  Jose, CA 95135

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  SPOUSE’S
  CONSENT

  	
   

  
	
  I
  acknowledge that I have read the

  	
   

  
	
  foregoing
  Restricted Stock Agreement

  	
   

  
	
  and
  understand the contents thereof.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  /s/
  KRISTINE KELLER

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

10

 

STOCK REPURCHASE AGREEMENT

 

This Stock Repurchase
Agreement (the “Agreement”)
is entered into as of June 29, 2004 by and among IGN Entertainment, Inc.,
a Delaware corporation (the “Company”), and Kenneth Keller (“Seller”).

 

RECITALS

 

WHEREAS, the Seller
purchased from the Company, and the Company issued to the Seller, 476,000
shares of the Company’s Common Stock, as adjusted for a twenty-to-one stock
split, of which 400,000 remain unvested (the “Repurchased Shares”) pursuant to that
certain Restricted Stock Agreement dated August 28, 2003 by and between
the Company and the Seller (the “Purchase Agreement”); and

 

WHEREAS, Seller wishes to
sell to the Company, and the Company wishes to purchase from Seller, the
Repurchased Shares.

 

NOW, THEREFORE, in consideration
of the foregoing and the agreements set forth below, the parties hereby agree
as follows:

 

1.                                      
Purchase and Sale of
Repurchased Shares.

 

1.1                                
Purchase. Seller hereby sells, transfers, assigns and
delivers to the Company, and the Company hereby purchases from Seller, the
Repurchased Shares free and clear of all liens, encumbrances, security
interests, equities, claims, options, licenses, charges and assessments, for
the Purchased Price.  The per share purchase price of the Repurchased
Shares is $0.0005 (the “Per
Share Price”).  The Company shall deliver concurrently
herewith to Seller the aggregate purchase price of the Repurchased Shares in
the amount of $200.00 (the “Purchase Price”) in cash by check or by wire
transfer.  Seller shall deliver concurrently herewith to the Company the
stock certificate representing the Repurchased Shares together with the stock
power and assignment separate from certificate attached hereto as Exhibit A,
duly executed by Seller.  The stock certificate representing the
Repurchased Shares shall be duly canceled by the Company, and the Company shall
issue to Seller a stock certificate for any shares represented by such canceled
stock certificate in excess of the Repurchased Shares.

 

2.                                      
Consideration.

 

2.1                                
Full Consideration.  The parties agree that the full
consideration for the transfer and sale hereunder of the Repurchased Shares is
the delivery of the Purchase Price by the Company to Seller.

 

2.2                                
No Additional
Consideration.  Except
for the Purchase Price, Seller acknowledges and agrees that Seller is neither
owed nor entitled to any additional compensation or consideration from the
Company or its officers, agents, representatives or shareholders with respect
to the purchase and sale of the Repurchased Shares.

 

 

3.                                      
Representations and
Warranties of Seller. 
Seller hereby represents and warrants to the Company as follows:

 

3.1                                
Ownership of the
Repurchased Shares. 
Seller is the lawful record and beneficial owner of, and has good and
marketable title to, the Repurchased Shares.  The Repurchased Shares are
owned by Seller free and clear of all liens, encumbrances, security interests,
equities, claims, options, licenses, charges and assessments, and are subject
to no restrictions with respect to transferability by Seller to the Company
except compliance with applicable securities laws.  Pursuant to this
Agreement, Seller shall convey to the Company good and marketable title in and
to the Repurchased Shares.

 

3.2                                
Authority. Seller represents that this Agreement is a
legal, valid and binding obligation of Seller enforceable in accordance with
its terms, except as may be limited by (i) applicable bankruptcy, insolvency,
reorganization or other laws of general application relating to or affecting
the enforcement of creditors’ rights generally and (ii) the effect of rules of
law governing the availability of equitable remedies.  The execution and
delivery of, and the performance of the obligations under, this Agreement by
Seller do not and will not contravene or result in any breach of any law or of
any regulation, order, writ, injunction or decree of any court, tribunal,
governmental body, authority, agency or instrumentality applicable to Seller or
the Repurchased Shares, nor do or will such execution, delivery or performance
violate, conflict with or result in (or with notice or lapse of time or both
result in) a breach of or default under any term or provision of any agreement
or contract, oral or written, to which Seller is a party or is bound or to which
the Repurchased Shares are subject.

 

3.3                                
Access to Information.  Seller has had an opportunity to seek
the advice of, and has sought and consulted with, legal counsel and such other
advisors, including investment experts, as he deems appropriate with regard to
the sale of the Repurchased Shares and with regard to the other terms of this
Agreement.  Seller has had access to all information regarding the Company
and its present and prospective business, assets, liabilities and financial
condition that Seller reasonably considers important in making the decision to
sell the Repurchased Shares, and Seller and Seller’s advisors have had ample
opportunity to ask questions of the Company’s representatives and to obtain
from the Company additional information, to the extent possessed by the Company
or obtainable by the Company without unreasonable effort or expense.  To
the best of Seller’s knowledge and belief all information requested has been
provided to the full satisfaction of Seller.

 

3.4                                
Brokers.  No broker, finder or other person is
entitled to any broker’s, finder’s or other fee or commission in connection
with this Agreement or the transactions contemplated hereby by reason of any
claim arising by, through or under Seller.

 

3.5                                
Adequacy of
Consideration.  The
consideration Seller is receiving in exchange for the consideration Seller is
giving under this Agreement is fair, just and reasonable.  Seller believes
that the Company’s business is subject to high risks and Seller is aware that
the value of the Repurchased Shares is subject to considerable potential
fluctuation and may now, or in the future, have an actual value substantially
above, or below, the valuation ascribed to such Repurchased Shares by the
parties under this Agreement and it is possible that Seller might realize a
higher value for the Repurchased Shares if he held them for an additional
period.  In making Seller’s determination to enter into this Agreement
Seller has relied on Seller’s own advisors and their judgments and diligence,
and on the representations and warranties of the

 

2

 

Company contained herein and not on any advice or
other information provided by the Company or its advisors.

 

3.6                                
No Public Market,
Differing Valuations. 
Seller understands and acknowledges that no public market now exists for the
Repurchased Shares and that Seller and the Company may have differing views of
the current and likely future value of the Repurchased Shares.  Seller
further acknowledges that, except for the representations and warranties
explicitly set forth herein, the Company is not and has not made any statement,
representation or warranty to Seller concerning:  (i) the fairness or
adequacy of the consideration given or received under this Agreement; (ii) the
current or likely future value of the Repurchased Shares; (iii) the markets,
business, products, management, technical or marketing capabilities, financial
affairs or prospects of the Company; or (iv) any other matter that has been
relied upon by Seller or Seller’s legal counsel or advisors in assessing the
value of the Repurchased Shares or determining whether to enter into this
Agreement upon the terms and conditions set forth herein.

 

3.7                                
Miscellaneous
Representations.

 

(a)                                 
Seller has a preexisting
business relationship with the Company sufficient to make Seller aware of the
character, business acumen and general business and financial circumstances of
the Company and/or its officers and directors.  By reason of Seller’s
business or financial experience, Seller is capable of evaluating the merits and
risks of the sale of the Repurchased Shares and has the ability to protect
Seller’s own interests in this transaction.

 

(b)                                
Seller and his advisors
have such knowledge and experience in financial, tax, legal and business
matters to enable Seller to evaluate the merits and risks of the transactions
contemplated hereunder and to make an informed decision with respect thereto to
assess the value of the Repurchased Shares and the consideration he is
receiving hereunder and the advisability of such transactions.

 

(c)                                 
Seller understands that
the tax and accounting consequences to Seller of the transactions contemplated
hereunder depends on his own circumstances and Seller has consulted Seller’s own
legal counsel and accountants with respect thereto and has not received or
relied on any advice from the Company or its agents or representatives.

 

4.                                      
Representations and
Warranties of the Company. 
The Company hereby represents and warrants to Seller as follows:

 

4.1                                
Authority.  The Company represents and warrants
that all action, corporate or otherwise, required by the Company, including by
its directors, shareholders and officers, necessary for the authorization,
execution, delivery of and performance of all obligations of the Company under
this Agreement, has been taken or will have been taken by the date
hereof.  The Company further represents that this Agreement is a legal,
valid and binding obligation of the Company enforceable in accordance with its
terms, except as may be limited by (i) applicable bankruptcy, insolvency,
reorganization or other laws of general application relating to or affecting
the enforcement of creditors’ rights generally and (ii) the effect of rules of
law governing the availability of equitable remedies.  The execution and
delivery of, and the performance of the obligations under, this Agreement by
the Company do not and will not contravene or result in any breach of any law
or of any regulation, order, writ, injunction or

 

3

 

decree of any court, tribunal, governmental body,
authority, agency or instrumentality applicable to, the Company, nor do or will
such execution, delivery or performance violate, conflict with or result in (or
with notice or lapse of time or both result in) a breach of or default under
any term or provision of any agreement or contract, oral or written, to which
the Company is a party or is bound.

 

4.2                                
Brokers.  No broker, finder or other person is
entitled to any broker’s, finder’s or other fee or commission in connection
with this Agreement or the transactions contemplated hereby by reason of any
claim arising by, through or under the Company.

 

4.3                                
Organization, Good
Standing and Qualification. 
The Company is a corporation duly organized, validly existing and in good
standing under the laws of the State of Delaware.

 

1.             
5.                                      
Mutual Release.  The Seller and the Company each
hereby releases and forever discharges the other party, and such other party’s
directors, officers, employees, affiliates, stockholders, predecessors, heirs,
successors and assigns (collectively the “Released Parties”), of and from any and all
claims, demands, actions, losses, costs, expenses, causes of action,
obligations, liabilities, suits, debts, sums of money, accounts, bonds, bills,
covenants, contracts, controversies, agreements, promises, damages, judgments
of every nature, kind and description whatsoever, state or federal, in law or
in equity, asserted or unasserted, whether or not now known or ascertained,
which heretofore do or may exist (collectively, “Claims”) which such party may now have
or claim to have against the Released Parties, for, upon, or by reason of any
matter, event, cause or thing whatsoever arising out of, based in whole or in
part upon, relating to, or existing by reason of the facts, circumstances,
transactions, events, occurrences, acts, omissions, or failures to act, of
whatever kind or character whatsoever with respect to any and all matters that
were asserted or could have been asserted in connection with the offer, issue and
sale of the Repurchased Shares, or with the Purchase Agreement, including but
not limited to any alleged violation of state or federal securities laws and
any Claims relating to tax liability (the “Released Matters”), provided, however,
that this release does not release or discharge either party from its
warranties, representations or obligations under this Agreement.  The
Seller and the Company each hereby acknowledge that it is aware that it may
hereafter discover claims or facts in addition to or different from those that
it now knows or believes to exist with respect to the Released Matters, but
that it is each party’s intention hereby to fully, finally and forever settle
and release all of the Claims against the Released Parties, without regard to the
subsequent discovery or existence of different or additional facts. The Seller
and the Company each further covenants not to sue or otherwise institute or
cause to be instituted or in any way participate or assist in legal or
administrative proceedings against the Released Parties regarding any Released
Matter.  The Seller and the Company each expressly waives and releases any
and all rights and benefits under Section 1542 of the Civil Code of the
State of California, or any analogous law of any other state, country or
jurisdiction, which reads as follows:

 

“SECTION 1542.  (GENERAL RELEASE - CLAIMS EXTINGUISHED.) 
A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR
SUSPECT TO EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF
KNOWN BY HIM MUST HAVE MATERIALLY AFFECTED HIS SETTLEMENT WITH THE DEBTOR.”

 

4

 

6.                                      
Miscellaneous.

 

6.1                                
Notices.  All notices, demands, requests or
other communications referred to or required herein or permitted pursuant
hereto to a party shall be in writing, shall specifically reference this
Agreement and shall be given by personal delivery, telecopier (with
confirmation) or certified or registered U.S. mail, return receipt requested,
with postage prepaid.  All such notices, demands, requests or
communications shall be deemed delivered and received (a) in the case of
personal delivery or telecopier on the date of such delivery and (b) in the
case of mailing on the third business day following the mailing, except that
notice of a change of address shall be effective upon receipt.

 

6.2                                
Legal Advice and
Construction of Agreement. 
Each party represents that such party has received independent legal advice
with respect to the advisability of entering into this Agreement and neither
has been entitled to rely upon or has in fact relied upon the legal or other
advice of the other party or such other party’s counsel in entering into this
Agreement.  Each party has participated in the drafting and preparation of
this Agreement, and accordingly, in any construction or interpretation of this
Agreement, the same shall not be construed against any party by reason of the
source of drafting.

 

6.3                                
Parties’ Understanding.  Each party represents that such party
has carefully read this Agreement, that such party fully understands this
Agreement’s final and binding effect, that the only promises made to such party
to sign this Agreement are those stated above, and that such party is signing
this Agreement voluntarily.

 

6.4                                
Section Headings.  Captions and section headings
are used herein for convenience only, are no part of this Agreement and shall
not be used in interpreting or construing it.

 

6.5                                
Entire Agreement.  This Agreement constitutes a single
integrated contract expressing the entire agreement of the parties with respect
to the subject matter hereof and supersedes all prior and contemporaneous oral
and written agreements and discussions with respect to the subject matter
hereof, and, except as specifically set forth herein, there are no other
agreements, representations, promises or inducements, written or oral, express
or implied, between the parties hereto with respect to the subject matter
hereof.

 

6.6                                
California Law.  This Agreement was negotiated,
executed and delivered within the State of California, and the rights and
obligations of the parties hereto shall be construed and enforced in accordance
with and governed by the internal laws (and not the conflict of laws) of the
State of California applicable to the construction and enforcement of contracts
between parties resident in California which are entered into and fully
performed in California.

 

6.7                                
Counterparts.  This Agreement may be executed in two
or more counterparts, each of which shall be deemed an original, but all of
which together shall constitute one and the same instrument.

 

6.8                                
Successors and Assigns.  This Agreement shall be binding upon
and inure to the benefit of each of the parties hereto and their respective
legal successors and assigns.

 

5

 

6.9                                
Survival.  The definitions, representations and
warranties herein shall survive the execution and delivery of this Agreement
and each party hereto is estopped from making a claim which conflicts with its
respective representations and warranties hereunder.

 

IN WITNESS WHEREOF, the
undersigned have executed this Agreement as of the date set forth above.

 

 

	
  IGN
  ENTERTAINMENT, INC.,

  	
  KENNETH
  KELLER

  
	
  a Delaware corporation

  	
   

  
	
   

  
	
   

  
	
  By:

  	
    /s/ Michael J.
  Sheridan

  	
   

  	
  By:

  	
  /s/ Kenneth Keller

  	
   

  
	
   

  	
    Michael J.
  Sheridan

  	
   

  
	
  Its:

  	
    Chief
  Financial Officer

  	
  Name:

  	
   Kenneth Keller

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   CTO

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  

 

6

 

EXHIBIT A

 

Stock
Power

 

 

STOCK POWER AND ASSIGNMENT

 

SEPARATE FROM CERTIFICATE

 

FOR VALUE RECEIVED and
pursuant to that certain Stock Repurchase Agreement dated as of June 29,
2004 (the “Agreement”),
the undersigned hereby sells, transfers, assigns and delivers unto IGN
Entertainment, Inc., a Delaware corporation (the “Company”) 400,000 shares of the Common
Stock of the Company standing in the undersigned’s name on the books of the
Company represented by Certificate No.             
delivered herewith, and does hereby irrevocably constitute and appoint the
Secretary of the Company as the undersigned’s attorney-in-fact, with full power
of substitution, to transfer said stock on the books of the Company.

 

	
  Dated:

  	
  8/3/04

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  KENNETH
  KELLER

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Kenneth Keller

  	
   

  
	
   

  	
   

  
	
   

  	
  Name:

  	
   Kenneth Keller

  	
   

  
	
   

  	
   

  
	
   

  	
  Title:

  	
   CTOExhibit 10.13

 

SECURITIES PURCHASE AGREEMENT

By and Among 

GHP Acquisition Corp.,

The Investors 

and

The Management Stockholders

as defined herein

Dated as of May 2, 2003

 

 

GHP Acquisition Corp.

 

SECURITIES PURCHASE AGREEMENT

 

May 2, 2003

 

TABLE OF CONTENTS

 

	
  SECTION
  I - PURCHASE AND SALE OF SHARES

  	
   

  
	
  1.1.

  	
  Purchase and Sale
  of Shares; Closing

  	
   

  
	
  1.2.

  	
  Use of
  Proceeds

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION II - REPRESENTATIONS
  AND WARRANTIES OF THE COMPANY

  	
   

  
	
  2.1.

  	
  Organization and
  Corporate Power

  	
   

  
	
  2.2.

  	
  Authorization and
  Non-Contravention

  	
   

  
	
  2.3.

  	
  Authorized and
  Outstanding Stock

  	
   

  
	
  2.4.

  	
  Subsidiaries

  	
   

  
	
  2.5.

  	
  Absence of
  Undisclosed Liabilities

  	
   

  
	
  2.6.

  	
  Absence of Certain
  Developments

  	
   

  
	
  2.7.

  	
  Litigation

  	
   

  
	
  2.8.

  	
  Tax Matters.

  	
   

  
	
  2.9.

  	
  Title
  to Properties

  	
   

  
	
  2.10.

  	
  Intellectual Property.

  	
   

  
	
  2.11.

  	
  Certain Contracts
  and Arrangements

  	
   

  
	
  2.12.

  	
  Governmental
  Approvals; Compliance with Laws

  	
   

  
	
  2.13.

  	
  Insurance
  Coverage

  	
   

  
	
  2.14.

  	
  Employee Matters; ERISA

  	
   

  
	
  2.15.

  	
  No Brokers or Finders

  	
   

  
	
  2.16.

  	
  Transactions with
  Affiliates

  	
   

  
	
  2.17.

  	
  Environmental Matters

  	
   

  
	
  2.18.

  	
  Corporate
  Records

  	
   

  
	
  2.19.

  	
  Customers,
  Distributors and Partners

  	
   

  
	
  2.20.

  	
  Disclosures

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION III - REPRESENTATIONS AND WARRANTIES OF THE INVESTORS AND MANAGEMENT
  STOCKHOLDERS

  	
   

  
	
  3.1.

  	
  Authorization

  	
   

  
	
  3.2.

  	
  Purchase Entirely for
  Own Account

  	
   

  
	
  3.3.

  	
  Disclosure of Information

  	
   

  
	
  3.4.

  	
  Investment Experience

  	
   

  
	
  3.5.

  	
  Accredited Investor

  	
   

  
	
  3.6.

  	
  Restricted Securities

  	
   

  
	
  3.7.

  	
  Authority and
  Non-Contravention

  	
   

  

 

i

 

	
  3.8.

  	
  Investment Banking;
  Brokerage Fees

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION IV - CONDITIONS
  TO CLOSING

  	
   

  
	
  4.1.

  	
  Effectiveness of Shares
  Terms

  	
   

  
	
  4.2.

  	
  Delivery of Documents

  	
   

  
	
  4.3.

  	
  Merger
  Agreement

  	
   

  
	
  4.4.

  	
  No Actions or Proceedings

  	
   

  
	
  4.5.

  	
  Approvals and Consents

  	
   

  
	
   

  	
   

  	
   

  
	
  SECTION
  V - MISCELLANEOUS

  	
   

  
	
  5.1.

  	
  Survival of
  Representations and Warranties

  	
   

  
	
  5.2.

  	
  Entire
  Agreement

  	
   

  
	
  5.3.

  	
  Amendments Waivers and
  Consents

  	
   

  
	
  5.4.

  	
  Notices
  and Demands

  	
   

  
	
  5.5.

  	
  Severability

  	
   

  
	
  5.6.

  	
  Expenses

  	
   

  
	
  5.7.

  	
  Counterparts

  	
   

  
	
  5.8.

  	
  Effect of Headings;
  Construction

  	
   

  
	
  5.9.

  	
  Governing
  Law

  	
   

  
	
  5.10.

  	
  Dispute
  Resolution.

  	
   

  

 

EXHIBITS

 

	
  Exhibit A

  	
  Form of
  Certificate of Incorporation

  
	
  Exhibit
  B

  	
  Form of
  Stockholders Agreement

  
	
  Exhibit
  C

  	
  Form
  of Registration Rights Agreement

  
	
  Exhibit
  D

  	
  Form
  of Director Indemnification Agreement

  
	
   

  	
   

  
	
  Schedule A

  	
  List of Investors
  and Principal Stockholders

  
	
  Schedule B

  	
  Wire Transfer
  Instructions

  

 

ii

 

SECURITIES PURCHASE AGREEMENT

 

THIS SECURITIES PURCHASE AGREEMENT is made as of May 2, 2003, by and among GHP
Acquisition Corp., a Delaware corporation (the “Company”), each of the persons
listed on Schedule A hereto as an Investor (collectively, the
“Investors,” and each individually, an “Investor”), and each of the persons
listed on Schedule A hereto as a Management Stockholder (collectively,
the “Management Stockholders,” and each individually, a “Management
Stockholder”).

 

WHEREAS, the Company and IGN Entertainment, Inc., a Delaware corporation
(“IGN”) are parties to an Agreement and Plan of Merger dated as of May 2, 2003
(the “Merger Agreement”) pursuant to which the Company and IGN will merge (the
“Merger”);

 

WHEREAS, pursuant to the terms of the Merger Agreement, upon consummation of
the Merger all of the outstanding capital stock of IGN (other than shares held
by the Company) will be cancelled and the holders thereof will be entitled to
receive cash consideration based on the number of shares of capital stock held
immediately prior to the Merger;

 

WHEREAS, the Company has agreed to sell, and each Investor and Management
Stockholder has agreed to purchase (a) that number of shares (the “Common
Shares”) of the Company’s Common Stock, par value $.01 per share (the “Common
Stock”) and (b) that number of shares (the “Preferred Shares” and together
with the Common Shares, the “Shares”) of the Company’s Series A Redeemable
Preferred Stock, par value $.01 per share (the “Preferred Stock”); and

 

WHEREAS, it is a condition precedent to the consummation of the Merger and the
intention of the parties, that the purchase of Common Stock and Preferred Stock
occur simultaneously in one integrated transaction immediately prior to the
consummation of the Merger.

 

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereby agree as follows:

 

SECTION I - PURCHASE AND SALE OF SHARES

 

1.1.        
Purchase and Sale of
Shares; Closing.

 

(a)          
Subject to the terms and conditions of this Agreement and in reliance on the
representations, warranties and covenants herein set forth, the Company shall
issue and sell to each of the Investors and the Management Stockholders, and
the Investor and the Management Stockholders severally agree to purchase from
the Company, the respective number of shares of Preferred Stock set forth
opposite the name of such Investor or Management Stockholder, as applicable, on
Schedule A hereto representing an aggregate of 34,923,565 shares of
Preferred Stock, with a purchase price of $1.00, per share, for an aggregate
purchase price of $34,923,565.00.  The Preferred Stock shall have the
rights, preferences and other terms set forth in the Amended and

 

 

Restated Certificate of
Incorporation of the Company (the “Certificate”) attached as Exhibit A
hereto.

 

(b)          
Subject to the terms and conditions of this Agreement and in reliance on the
representations, warranties and covenants herein set forth, the Company shall
issue and sell to each of the Investors and the Management Stockholders, and
each Investor and Management Stockholder severally agrees to purchase from the
Company, the respective number of shares of Common Stock set forth opposite the
name of such Investor or Management Stockholder, as applicable, on Schedule
A hereto representing an aggregate of 850,000 shares of Common Stock, with
a price per share of $.01 per share, for an aggregate purchase price of
$8,500.00.  The Common Stock shall have the rights, preferences and other
terms set forth in the Certificate.

 

(c)          
Subject to the satisfaction or waiver of the conditions set forth herein, the
purchase of the Shares shall be made at a closing (the “Closing”) to be held on
the date that is no later than two (2) business days following the satisfaction
or waiver of the conditions to closing set forth in Section IV hereof or at
such other time as agreed upon by the parties hereto.  At the Closing, the
Company will deliver to each Investor or Management Stockholder, as applicable,
one or more certificates representing the Shares purchased by such Investor or
Management Stockholder, as applicable, as set forth on Schedule A hereto
against payment of the purchase price relating thereto to the Company by wire
transfer payable in immediately available funds in accordance with the wire
transfer instructions set forth on Schedule B, or by certified or bank
check made payable to the Company.

 

1.2.         Use of Proceeds.  The Company shall use the proceeds received upon the sale of the
Shares to consummate the Merger and for general working capital purposes.

 

SECTION II - REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

In
order to induce the Investors and Management Stockholders to enter into this
Agreement and consummate the transactions contemplated hereby, the Company
hereby makes to the Investors and Management Stockholders the following
representations and warranties.

 

2.1.         Organization and Corporate
Power.  The Company is a corporation duly
organized, validly existing and in good standing under the laws of the State of
Delaware.  The Company has all requisite corporate power and authority to
own its properties, to carry on its business as presently conducted, to enter
into and perform this Agreement and the agreements, documents and instruments
contemplated hereby (together, the “Transaction Documents”) to which it is a
party and to carry out the transactions contemplated hereby and thereby. 
The Company is duly licensed or qualified to do business as a foreign corporation
in each jurisdiction wherein the character of its property, or the nature of
the activities presently conducted by it, makes such qualification necessary,
except where the failure to be so licensed or qualified would not have, or be
reasonably likely to have, a material adverse effect on the assets,
liabilities, condition (financial or other), business, results of operations or
prospects of the Company (a

 

2

 

“Material Adverse Effect”).
The Company is not in violation of any term or provision of its Certificate or
by-laws (the “By-laws”), each as in effect as of this date.

 

2.2.         Authorization and
Non-Contravention.  The Transaction Documents are valid
and binding obligations of the Company, enforceable in accordance with their
terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, moratorium, reorganization or similar laws, from time to time in
effect, which affect enforcement of creditors’ rights generally.  The execution,
delivery and performance of the Transaction Documents, and the issuance, sale
and delivery of the Shares in accordance with this Agreement have been duly
authorized by all necessary corporate or other action of the Company and its
stockholders.  The execution, delivery and performance of the Transaction
Documents, including, without limitation, the sale and delivery of the Shares
in accordance with this Agreement and the performance of any transactions
contemplated by the Transaction Documents will not (i) violate, conflict with
or result in a default (whether after the giving of notice, lapse of time or
both) under any contract or obligation to which the Company is a party or by
which it or its assets are bound, or any provision of the Certificate or
By-Laws, or cause the creation of any lien or encumbrance upon any of the
assets of the Company, except for those which would not have, or be reasonably
likely to have, a Material Adverse Effect; (ii) violate, conflict with or
result in a default (whether after the giving of notice, lapse of time or both)
under, any provision of any law, regulation or rule, or any order of, or any
restriction imposed by any court or other governmental agency applicable to the
Company, except for those which would not have, or be reasonably likely to
have, a Material Adverse Effect; (iii) require from the Company any notice to,
declaration or filing with, or consent or approval of any governmental
authority or other third party other than pursuant to federal or state securities
or blue sky laws; or (iv) accelerate any obligation under, or give rise to a
right of termination of, any agreement, permit, license or authorization to
which the Company is a party or by which it is bound.

 

2.3.         Authorized and Outstanding Stock.  Immediately prior to the consummation
of the transactions to be effected at the Closing, the authorized capital stock
of the Company will consist of (i) 1,000 shares of its common stock, par value
$.01 per share (for purposes of this Section 2.3, the “Common Stock”), of which
100 shares are issued and outstanding.  Immediately prior to the
consummation of the transactions contemplated hereby, the outstanding shares of
capital stock of the Company will be held beneficially and of record by the
persons identified in Schedule 2.3 in the amounts indicated
thereon.  Schedule 2.3 sets forth the name of each holder of
options and warrants for Common Stock, the number of shares for which such
options and warrants are exercisable with respect to each holder, along with
the applicable vesting schedule, if any, and the exercise price.  Except
as disclosed in Schedule 2.3 and in the Transaction Documents, there are
no outstanding subscriptions, options, warrants, phantom rights, commitments,
agreements, arrangements or commitments of any kind for or relating to the
issuance, or sale of, or outstanding securities convertible into or
exchangeable for, any shares of capital stock of any class or other equity
interests of the Company.  Except as set forth in Schedule 2.3, the
Company has no obligation to purchase, redeem, or otherwise acquire any of its
capital stock or any interests therein.  After giving effect to the
transactions contemplated hereby, all of the outstanding shares of capital
stock of the Company will have been duly and validly authorized and issued and
will be fully paid and non-assessable.  The offer, issuance, sale and
delivery of the Shares are or will be exempt from the registration requirements
of the Securities

 

3

 

Act of 1933, as amended (the
“Act”) and the qualification or registration provisions of applicable state
securities laws.  Neither the Company nor its authorized agents will take
any action that would cause the loss of such exemption.  The relative
rights, preferences and other terms relating to the Preferred Stock are as set
forth in Exhibit A attached hereto, and such rights and preferences
are valid and enforceable under Delaware law.  There are no preemptive
rights, rights of first refusal, put or call rights or obligations or
anti-dilution rights with respect to the issuance, sale or redemption of the
Company’s capital stock, other than rights set forth herein or in the
Certificate, the Stockholders Agreement attached as Exhibit B or the
Registration Rights Agreement attached as Exhibit C.  Other than
the rights set forth in the Transaction Documents or in Schedule 2.3,
there are no rights to have the Company’s capital stock registered for sale to
the public pursuant to the laws of any jurisdiction, and there are no
agreements of which the Company is aware, other than the Transaction Documents,
relating to the voting of the Company’s voting securities or restrictions on
the transfer of the Company’s capital stock.

 

2.4.         Subsidiaries.  The Company does not own or control, directly or indirectly,
any interest in any other corporation, partnership, limited liability company,
association or other business entity.

 

2.5.         Absence of Undisclosed
Liabilities.  Except as a result of or arising out
of the transactions contemplated under the Transaction Documents, the Company
does not have any liability or obligation of any nature, whether accrued,
absolute, contingent or otherwise, asserted or unasserted, known or unknown, in
any case which has, or is reasonably likely to have, a Material Adverse
Effect.  The Company has not assumed, guaranteed, endorsed or otherwise
become directly or contingently liable on or for any indebtedness of any other
person.

 

2.6.         Absence of Certain
Developments.  Since its formation, the Company has
conducted its business only in the ordinary course consistent with past
practice and except for general industry and economic conditions, there has
been (i) no change in the condition (financial or otherwise) of the Company or
in the assets, liabilities, business or prospects of the Company that has or is
reasonably likely to have a Material Adverse Effect; (ii) no declaration,
setting aside or payment of any dividend or other distribution with respect to,
or any direct or indirect redemption or acquisition of, any of the capital
stock of the Company; (iii) no waiver of any valuable right of the Company or
cancellation of any material debt or claim held by the Company; (iv) no
material increase in the compensation paid or payable to any officer, director,
employee or agent of the Company; (v) no material loss, destruction or damage
to any property of the Company, whether or not insured; (vi) no material labor
dispute involving the Company and no material change in the personnel of the
Company or the terms and conditions of their employment; (vii) no
acquisition or disposition of any assets (or any contract or arrangement
therefor), except in the ordinary course of business nor any other transaction
by the Company otherwise than for fair value in the ordinary course of
business; (viii) no change in accounting methods or practices of the Company;
(ix) no loss, or any development that is expected to result in a loss, of any
significant supplier, customer, distributor or account of the Company (other
than the completion in the ordinary course of business of specific projects for
customers); (x) no amendment or termination of any contract or agreement to
which the Company is a party or by which it is bound; and (xi) no commitment
(contingent or otherwise) to do any of the foregoing.

 

4

 

2.7.         Litigation.  There is no litigation or governmental proceeding or
investigation pending or, to the knowledge of the Company, threatened, by or
against the Company or affecting any of the Company’s properties or assets, or
against any officer, key employee or stockholder of the Company in his or her
capacity as such, nor, to the knowledge of the Company, has there occurred any
event nor does there exist any condition on the basis of which any litigation,
proceeding or investigation might properly be instituted with any substantial
chance of recovery where such recovery would likely have a Material Adverse
Effect.  Neither the Company nor any officer, key employee or stockholder
in his or her capacity as such is, to the knowledge of the Company, a party to
or in default with respect to any order, writ, injunction, decree, ruling or
decision of any court, commission, board or other government agency which may
have a Material Adverse Effect.  Schedule 2.7 includes a
description of all material litigation, claims, proceedings or, to the
Company’s knowledge, investigations involving the Company or any of its
officers, directors, stockholders or key employees in connection with the
business of the Company occurring, arising or existing since its formation.

 

2.8.        
Tax Matters.

 

(a)          
The Company has paid all federal, state, local, foreign or other taxes,
including, without limitation, income taxes, estimated taxes, excise taxes,
sales taxes, use taxes, gross receipts taxes, franchise taxes, employment and
payroll related taxes, withholding taxes, stamp taxes, transfer and property
taxes, or other tax of any kind whatsoever, whether or not measured in whole or
in part by net income, including any interest, penalty, or addition thereto,
whether disputed or not (collectively, “Taxes”) required to be paid by it
through the date hereof.

 

(b)          
All Taxes and other assessments and levies which the Company is required to
withhold or collect have been withheld and collected and have been paid over to
the proper governmental authorities when due.

 

(c)          
The Company has, in accordance with applicable law, timely and properly filed
all federal, state, local and foreign tax returns, declarations, reports,
claims for refund, information returns or statements relating to Taxes
(collectively, “Tax Returns”) required to be filed by it through the date
hereof.  All such Tax Returns were correct and complete in all
respects.  The Company is not currently the beneficiary of any extension
of time within which to file any Tax Return.

 

(d)          
neither the Internal Revenue Service nor any other governmental authority is
now asserting or, to the knowledge of the Company, threatening to assert
against the Company any deficiency or claim for additional Taxes.

 

(e)          
No claim has ever been made in writing by an authority in a jurisdiction where
the Company does not file Tax Returns that the Company is or may be subject to
taxation by that jurisdiction.

 

5

 

(f)           
The Company has not waived any statute of limitations in respect of Taxes or
agreed to any extension of time with respect to a Tax assessment or deficiency.

 

(g)          
There are no liens or other security interests encumbering any of the assets of
the Company that arose in connection with any failure (or alleged failure) to
pay any Taxes (except where such security interests arise as a matter of law
prior to the due date for paying the related Taxes).

 

(h)          
There has never been any audit of any Tax Return filed by the Company, no such
audit is in progress and the Company has not been notified by any Tax authority
that any such audit is contemplated or pending.

 

(i)           
The Company has not made any payments, is not obligated to make any payments,
and is not a party to any contract, plan or agreement, including, but not
limited to, this Agreement, that could obligate it to make any payments that
could be treated as an excess parachute payment subject to Section 280G of the
Internal Revenue Code of 1986, as amended (the “Code”).

 

(j)           
The Company is not a party to any Tax allocation, Tax sharing or similar
agreement.

 

(k)          
The Company is not and has not been a member of an affiliated group filing a
consolidated federal income Tax Return.  The Company does not have any
liability for the Taxes of any other Person under Treasury Regulations Section
1.1502-6 (or any similar provision of state, local or foreign law).  The
Company does not have any liability for the Taxes of any other Person as a
transferee or successor, by contract, or otherwise.

 

(l)           
The Company is and has been at all times an accrual method taxpayer. The
Company has not been and will not be required to include any adjustment in
income subject to Tax for any Tax period (or portion thereof) pursuant to
Section 481 of the Code or any comparable provision under state or foreign Tax
laws as a result of transactions, events or accounting methods employed prior
to Closing.

 

2.9.         Title to Properties.  Schedule 2.9 lists all real
and personal property used in or necessary to the conduct of the Company’s
business.  The Company has good and marketable title of record to all of
its owned real property and a valid and enforceable leasehold interest in all
of its leased real property, free and clear of all liens, restrictions and
encumbrances.  The Company has good title to or a valid and enforceable
leasehold interest in all personal property used in or necessary to the
business of the Company and the same is in good condition and repair in all
material respects (ordinary wear and tear excepted).  The Company is not
in violation of any zoning, building or safety ordinance, regulation or
requirement or other law or regulation applicable to the operation of its owned
or leased properties, except for violations which, singly or in the aggregate,
would not have a Material Adverse Effect nor has the Company received written
notice of any violation with which it has not complied in all material
respects.

 

6

 

2.10.      
Intellectual Property.

 

(a)          
Schedule 2.10 hereto contains a complete and accurate list of all Marks
owned by the Company or used or held for use by the Company.  Except as
set forth on Schedule 2.10 hereto:

 

(i)           
the Company exclusively owns or possesses adequate and enforceable rights to
use, without payment to a third party, all of the Intellectual Property Assets
necessary for the operation of its business, free and clear of all Liens;

 

(ii)          
all the Company Intellectual Property Assets which are issued by or registered
with the U.S. Patent and Trademark Office, U.S. Copyright Office or in any
similar office or agency anywhere in the world are currently in compliance with
formal legal requirements (including without limitation, as applicable, payment
of filing, examination and maintenance fees, proofs of working or use, timely
post-registration filing of affidavits of use and incontestability and renewal
applications) and are valid and enforceable;

 

(iii)         
there are no pending, or, to the Company’s knowledge, threatened claims against
the Company or any of its employees alleging that any of the Company
Intellectual Property Assets or the operation of the Company’s business,
infringes or conflicts with the rights of others under any Intellectual Property
Assets (“Third Party
Rights”);

 

(iv)         
neither the operation of the Company’s business nor the Company Intellectual
Property Assets infrings or conflicts with any Third Party Right;

 

(v)          
the Company has not received any communications alleging that the Company has
violated or, by conducting its business, would violate any Third Party Rights
or that any of the Company Intellectual Property Assets is invalid or
unenforceable;

 

(vi)         
to the knowledge of the Company, no third party is violating or infringing any
of the Company Intellectual Property Assets;

 

(vii)        
the Company has taken reasonable security measures to protect the secrecy,
confidentiality and value of all Trade Secrets owned by the Company or used or
held for use by the Company;

 

(b)          
For purposes of this Agreement,

 

(i)           
“Company Intellectual
Property Assets”
means all Intellectual Property Assets owned by the Company or used or held for
use by the Company in the Business.

 

7

 

(ii)          
“Intellectual
Property Assets”
means, collectively:

 

(A)         
patents, patent applications, patent rights, and inventions and discoveries and
invention disclosures (whether or not patented);

 

(B)          
trade names, trade dress, logos, packaging design, slogans, Internet domain
names, registered and unregistered trademarks and service marks and related
registrations and applications for registration (collectively, “Marks”);

 

(C)          
copyrights in both published and unpublished works, including without
limitation all databases and computer programs, manuals and other documentation
and all copyright registrations and applications, and all derivatives,
translations, adaptations and combinations of the above;

 

(D)         
know-how, trade secrets, confidential or proprietary information, data,
designs, processes, drawings, schematics, blueprints, flow charts, models,
prototypes, and techniques (collectively, “Trade Secrets”); and

 

(E)          
goodwill, franchises, licenses, permits, consents, approvals, and claims of
infringement against third parties.

 

2.11.       Certain Contracts and
Arrangements.  Except as set forth in the
Transaction Documents or in Schedule 2.11 (with true and correct copies
provided to the Investors), the Company is not a party or subject to or bound
by:

 

(a)          
any contract or agreement (i) involving a potential commitment or payment by
the Company in excess of $50,000 or (ii) which is otherwise material and not
entered into in the ordinary course of business;

 

(b)          
any contract, lease or agreement which is not cancelable by the Company without
penalty on less than ninety (90) days notice;

 

(c)          
any contract containing covenants directly or explicitly limiting in any
material respect the freedom of the Company to compete in any line of business
or with any person or entity;

 

(d)          
any contract or agreement relating to the licensing, distribution, development,
purchase, sale or servicing of its products except in the ordinary course of
business consistent with past practices;

 

(e)          
any indenture, mortgage, promissory note, loan agreement, guaranty or other
agreement or commitment for borrowing or any pledge or security arrangement;

 

8

 

(f)           
any employment contracts, noncompetition agreements or other agreements with
present or former officers, directors, employees or stockholders of the Company
or persons related to or affiliated with such persons;

 

(g)          
any stock redemption or purchase agreements or other agreements affecting or
relating to the capital stock of the Company, including, without limitation,
any agreement with any stockholder of the Company which includes anti-dilution
rights, registration rights, voting arrangements, operating covenants or
similar provisions;

 

(h)          
any pension, profit sharing, bonus, retirement, severance or stock option
plans;

 

(i)           
any royalty, dividend or similar arrangement based on the revenues or profits
of the Company or any contract or agreement involving fixed price or fixed
volume arrangements;

 

(j)           
any joint venture, partnership, manufacturer, development or supply agreement;

 

(k)          
any acquisition, merger or similar agreement;

 

(l)           
any contract with any governmental entity; or

 

(m)         
any other material contract not executed in the ordinary course of business.

 

All
contracts, agreements, leases and instruments set forth on Schedule 2.11
are valid and are in full force and effect and constitute legal, valid and
binding obligations of the Company and, to the knowledge of the Company, of the
other parties, and are enforceable in accordance with their respective
terms.  The Company has no knowledge of any notice or threat to terminate
any such contracts, agreements, leases or instruments, which termination would
reasonably be expected to have a Material Adverse Effect.  Neither the
Company nor, to the knowledge of the Company, any other party, is in default in
complying with any provisions of any such contract, agreement, lease or
instrument, and no condition or event or fact exists which, with notice, lapse
of time or both, would constitute a default thereunder on the part of the
Company, except for any such default, condition, event or fact that,
individually or in the aggregate, would not reasonably be expected to have a
Material Adverse Effect.

 

2.12.       Governmental Approvals;
Compliance with Laws.  The Company is in compliance in all respects with all
applicable laws and regulations, except where the failure to be in compliance
would not have a Material Adverse Effect.  The Company has all of the
permits, licenses, orders, franchises and other rights and privileges of all
federal, state, local or foreign governmental or regulatory bodies necessary
for the Company to conduct its business as presently conducted and as
contemplated to be conducted, except for those the absence of which would cause
a Material Adverse Effect.  All such permits, licenses, orders, franchises
and other rights and privileges are in full force and effect and, to the
knowledge of the Company, no suspension or cancellation of any of them is
threatened, and none of such permits, licenses,

 

9

 

orders, franchises or other
rights and privileges will be affected by the consummation of the transactions
contemplated by the Transaction Documents.  The Company has never entered
into or been subject to any judgment, consent decree, compliance order or
administrative order with respect to any aspect of the business, affairs,
properties or assets of the Company or received any request for information,
notice, demand letter, administrative inquiry or formal or informal complaint
or claim from any regulatory agency with respect to any aspect of the business,
affairs, properties or assets of the Company.

 

None
of the Company, the Company’s officers or directors, or, to the Company’s
knowledge, any holders of 5% or more of the Company’s securities:

 

(a)          
Filed a petition under the federal bankruptcy laws or any state insolvency law
or had a filing against, or had a receiver, fiscal agent or similar officer
appointed by a court for the business or property of such person, or any
partnership in which he or it was a general partner;

 

(b)          
Been convicted in a criminal proceeding or been a named subject of a pending
criminal proceeding (excluding traffic violations and other minor offenses);

 

(c)          
Been the subject of any order, judgment, or decree, not subsequently reversed,
suspended or vacated, of any court of competent jurisdiction, permanently or
temporarily enjoining him from, or otherwise limiting, the following
activities:

 

(i)           
Acting as a futures commission merchant, introducing broker, commodity trading
advisor, commodity pool operator, floor broker, leverage transaction merchant,
any other person regulated by the Commodity Futures Trading Commission (the
“CFTC”), or an associated person of any of the foregoing, or as an investment
adviser, underwriter, broker or dealer in securities, or as an affiliated
person, director or employee of any investment company, bank, savings and loan
association or insurance company, or engaging in or continuing any conduct or
practice in connection with such activity;

 

(ii)          
Engaging in any type of business practice; or

 

(iii)         
Engaging in any activity in connection with the purchase or sale of any
security or commodity or in connection with any violation of federal or state
securities laws or federal commodities laws;

 

(d)          
Been the subject of any order, judgment or decree, not subsequently reversed,
suspended or vacated, of any federal or state authority barring, suspending or
otherwise limiting for more than 60 days the right of such person to engage in
any activity described in paragraph (c)(i), or to be associated with persons
engaged in any such activity; or

 

(e)          
Been found by a court of competent jurisdiction in a civil action or by the SEC
or the CFTC to have violated any federal or state securities law, or any
federal

 

10

 

commodities law and the judgment in such civil action or
finding by the SEC or CFTC has not been subsequently reversed, suspended, or
vacated.

 

2.13.       Insurance Coverage.  Schedule 2.13 hereto contains
an accurate summary of the insurance policies currently maintained by the
Company.  There are currently no claims pending against the Company under
any insurance policies currently in effect and covering the property, business
or employees of the Company, and all premiums due and payable with respect to
the policies maintained by the Company have been paid to date.  To the
Company’s knowledge, there is no threatened termination of any such policies or
arrangements.

 

2.14.       Employee Matters; ERISA.  Except as set forth on Schedule
2.14, the Company does not have in effect any employment agreements,
consulting agreements, deferred compensation, pension or retirement agreements
or arrangements, bonus, severance, incentive or profit-sharing plans or
arrangements, or labor or collective bargaining agreements, written or
oral.  The Company has no knowledge that any of the officers or other key
employees of the Company presently intends to terminate his or her
employment.  The Company is in compliance in all material respects with
all applicable laws and regulations relating to labor, employment, fair
employment practices, terms and conditions of employment, and wages and
hours.  Upon termination of the employment of any employees, the Company
will not be obligated to provide advance notice of termination of employment or
be liable to any such employees for so-called “severance pay” or retiree health
benefits.  The Company is in material compliance with the terms of all
plans, and programs, including, without limitation, those and agreements listed
on Schedule 2.14, and each such plan, program or agreement is in
compliance with all of the requirements and provisions of the Employee
Retirement Income Security Act of 1974, as amended (“ERISA”) and the Code and
is terminable in the discretion of the Company without liability to the Company
upon or following such termination.  No such plan, or program has engaged
in any “prohibited transaction” as defined in Section 4975 of the Code or has
incurred any “accumulated funding deficiency” as defined in Section 302 of
ERISA, nor has any reportable event as defined in Section 4043(b) of ERISA
occurred with respect to any such plan or program.  The Company has never
maintained, sponsored or contributed to any plan which is subject to Title IV
of ERISA or Section 412 of the Code.  At no time has the Company
contributed to or been obligated to contribute to any “multi-employer plan” as
defined in Section 3(37) of ERISA.  With respect to each plan listed on Schedule
2.14, all required filings, including all filings required to be made with
the United States Department of Labor and Internal Revenue Service, have been
timely filed.

 

2.15.       No Brokers or Finders.  No person has or will have, as a
result of the transactions contemplated by this Agreement, any right, interest
or claim against or upon the Company for any commission, fee or other
compensation as a finder or broker because of any act or omission by the
Company or its stockholders or its affiliates.

 

2.16.       Transactions with Affiliates.  Except as set forth on Schedule
2.16, there are no loans, leases or other continuing arrangements between
the Company on the one hand, and any officer, director or stockholder of the
Company or any respective family member or affiliate of such officer, director
or stockholder on the other hand.

 

11

 

2.17.       Environmental Matters.  No hazardous waste, substances or
materials, or oil or petroleum products have been generated, transported, used,
disposed, stored or treated by the Company, except in material compliance with
applicable environmental laws.  No hazardous wastes, substances or
materials, or oil or petroleum products have been released, discharged,
disposed, or otherwise caused to enter the soil or water in, under or upon any
real property owned, leased or operated by the Company, except in material
compliance with applicable environmental laws.  The Company is in
compliance in all material respects with all applicable environmental, health
and safety laws and regulations, except where such violation has not or will
not have a Material Adverse Effect on the Company.

 

2.18.       Corporate Records.  The corporate record books of the Company accurately record all
corporate action taken by its stockholders and board of directors and
committees.  The copies of the corporate records of the Company, as made
available to the Investors for review, are true and complete copies of the
originals of such documents.

 

2.19.       Customers, Distributors and
Partners.  Schedule 2.19 sets forth the
name of each customer and distributor of the Company who accounted for more
than five percent (5%) of the revenues of the Company since its formation (the
“Customers” and “Distributors”, respectively) together with the
names of any persons or entities with which the Company has a material
strategic partnership or similar relationship (“Partners”).  No
Customer, Distributor or Partner of the Company has canceled or otherwise
terminated its relationship with the Company, or has decreased materially its
usage or purchases of the services or products of the Company.  No
Customer, Distributor or Partner has, to the knowledge of the Company, any plan
or intention to terminate, to cancel or otherwise materially and adversely
modify its relationship with the Company or to decrease materially or limit its
usage, purchase or distribution of the services or products of the Company.

 

2.20.       Disclosures.  Neither the Transaction Documents, nor any other agreement,
document or written statement made by the Company and furnished by the Company
to the Investors in connection with the transactions contemplated hereby,
contains any untrue statement of a material fact or omits to state any material
fact necessary to make the statements contained herein or therein not
misleading in the light of the circumstances in which they were made.  To
the Company’s knowledge, there is no material fact directly relating to the
business, operations, condition or prospects of the Company (including any
competitive developments, but other than facts which relate to general economic
or industry trends or conditions) that could reasonably be expected to have a
Material Adverse Effect that has not been set forth in this Agreement or in any
Schedule hereto.

 

SECTION III - REPRESENTATIONS AND WARRANTIES OF THE INVESTORS AND
MANAGEMENT STOCKHOLDERS

 

Each
Investor (which for purposes of this Section III only shall include the
Management Stockholders), severally and not jointly, hereby represents,
warrants and covenants that (other than Section 3.5 with respect to the
Management Stockholders):

 

12

 

3.1.         Authorization.  Such Investor has full power and authority to enter into each
of the Transaction Documents, and each such agreement constitutes its valid and
legally binding obligation, enforceable in accordance with its terms.

 

3.2.         Purchase Entirely for Own
Account.  This Agreement is made with such
Investor in reliance upon such Investor’s representation to the Company, which
by such Investor’s execution of this Agreement such Investor hereby confirms,
that the Shares to be received by such Investor will be acquired for investment
for such Investor’s own account (or the account of their respective
affiliates), not as a nominee or agent, and not with a view to the resale or
distribution of any part thereof in violation of any applicable law, and that
such Investor has no present intention of selling, granting any participation
in or otherwise distributing the same to any other person.  By executing
this Agreement, such Investor further represents that such Investor does not
have any contract, undertaking, agreement or arrangement with any person to
sell, transfer or grant participation to such person or to any third person,
with respect to any of the Securities.

 

3.3.         Disclosure of Information.  Such Investor represents that it has
had an opportunity to ask questions and receive answers from the Company
regarding the terms and conditions of the offering of the Shares and the
business, properties, prospects and financial condition of the Company. 
The foregoing, however, does not limit or modify the representations and
warranties of the Company in Section 2 of this Agreement or the right of the
Investors to rely thereon.

 

3.4.         Investment Experience.  Such Investor is an investor in
securities of companies in the development stage and acknowledges that it is
able to fend for itself, can bear the economic risk of its investment, and has
such knowledge and experience in financial or business matters that it is
capable of evaluating the merits and risks of the investment in the
Shares.  If other than an individual, such Investor also represents
it has not been organized for the purpose of acquiring the Shares.

 

3.5.         Accredited Investor.  Such Investor is an “accredited
investor” within the meaning of SEC Rule 501 of Regulation D, as presently in
effect.

 

3.6.         Restricted Securities.  Such Investor understands that the
Securities it is purchasing are characterized as “restricted securities” under
the federal securities laws inasmuch as they are being acquired from the
Company in a transaction not involving a public offering and that under such
laws and applicable regulations such Securities may be resold without
registration under the Act only in certain limited circumstances.  In the
absence of any effective registration statement covering the Shares or an
available exemption from registration under the Act, the Shares must be held
indefinitely.  In this connection, such Investor represents that it is familiar
with Rule 144, as presently in effect, and understands the resale limitations
imposed thereby and by the Act, including without limitation the Rule 144
condition that current information about the Company be available to the
public.  Such information is not now available and the Company has no
present plans to make such information available.

 

13

 

3.7.         Authority and
Non-Contravention.  The Transaction Documents are valid
and binding obligations of the Investors, enforceable in accordance with their
terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, moratorium, reorganization or similar laws, from time to time in
effect, which affect enforcement of creditors’ rights generally.  The
execution, delivery and performance of the Transaction Documents have been duly
authorized by all necessary corporate or other action of such Investor. 
The execution, delivery and performance of this Agreement and the performance
of any transactions contemplated by the Transaction Documents will not (i)
violate, conflict with or result in a default (whether after the giving of
notice, lapse of time or both) under any material contract or obligation to
which such Investor is a party or by which their or its assets are bound, or
any provision of such Investors’ organizational documents, or cause the
creation of any encumbrance upon any of the material assets of such Investors;
(ii) violate, conflict with or result in a default (whether after the giving of
notice, lapse of time or both) under, any provision of any law, regulation or
rule, or any order of, or any restriction imposed by any court or other
governmental agency applicable to the Investors; (iii) require from such
Investor any notice to, declaration or filing with, or consent or approval of
any governmental authority or other third party other than pursuant to federal
or state securities or blue sky laws; or (iv) accelerate any obligation under,
or give rise to a right of termination of, any agreement, permit, license or
authorization to which such Investor is a party or by which it is bound.

 

3.8.         Investment Banking;
Brokerage Fees.  No Investor has incurred or taken any
action so that the Company is liable for or become liable for any investment
banking fees, brokerage commissions, broker’s or finder’s fees or similar
compensation (exclusive of professional fees to lawyers and accountants) in
connection with the transactions contemplated by this Agreement.

 

SECTION IV - CONDITIONS TO CLOSING

 

The
obligations of each of the Investors and Management Stockholders to purchase
and pay for their pro rata portion of the Shares shall be subject to the
fulfillment to the Investors’ and Management Stockholders’ reasonable
satisfaction or waiver on or before the Closing of the following conditions:

 

4.1.         Effectiveness of Shares Terms.  The terms of the Shares as set forth
in Exhibit A hereto shall have become effective by the filing of the
Certificate with the Secretary of State of the State of Delaware.

 

4.2.         Delivery of Documents. The Company shall have executed and/or
delivered to the Investors and Management Stockholders (or shall have caused to
be executed and delivered to the Investors by the appropriate persons) the following:

 

(a)          
Certificates representing the Shares;

 

14

 

(b)          
Copies of resolutions of the Board of Directors and, as applicable, the
stockholders of the Company authorizing the execution and delivery of the
Transaction Documents, as certified by the Company’s Secretary;

 

(c)          
A copy of the Certificate certified as of a recent date by the Secretary of
State of the State of Delaware;

 

(d)          
A copy of the By-Laws of the Company certified by the Company’s Secretary;

 

(e)          
Certificates issued by the Secretary of State of the State of Delaware and such
states in which the Company is qualified as a foreign corporation, certifying
that the Company is in good standing in their respective states; and

 

(f)           
The Stockholders Agreement in the form attached hereto as Exhibit B.

 

(g)          
Registration Rights Agreement in the form attached hereto as Exhibit C.

 

(h)          
Director Indemnification Agreements for each member of the Company’s Board of
Directors in the form attached hereto as Exhibit D.

 

(i)           
Such other supporting documents and certificates as the Investors may
reasonably request.

 

4.3.         Merger Agreement.  The transactions contemplated by the Merger Agreement shall
have been consummated or shall consummate concurrently with the Closing
hereunder.

 

4.4.         No Actions or Proceedings. No action or proceeding by or before any
court, administrative body or governmental agency shall have been instituted or
threatened which seeks to enjoin, restrain or prohibit, or might result in
damages in respect of, this Agreement or the complete consummation of the
transactions contemplated by this Agreement, and which would in the reasonable
judgment of the Investors make it inadvisable to consummate such
transactions.  No law or regulation shall be in effect and no court order
shall have been entered in any action or proceeding instituted by any party
which enjoins, restrains or prohibits this Agreement or the complete
consummation of the transactions contemplated by this Agreement.

 

4.5.         Approvals and Consents. The Company shall have made all filings
with and notifications of governmental authorities, regulatory agencies and
other entities required to be made by them in connection with the execution and
delivery of this Agreement and the performance by them of the transactions
contemplated hereby, and the Investors shall have received copies of all
required authorizations, waivers, consents and permits to permit the
consummation of the transactions contemplated by this Agreement, in form and
substance reasonably satisfactory to the Investors, from all third parties.

 

15

 

SECTION V - MISCELLANEOUS

 

5.1.         Survival of Representations
and Warranties.  The representations, warranties, covenants and agreements made
herein or in any certificates or documents executed in connection herewith
shall survive the execution and delivery hereof and the Closing contemplated
hereby and shall bind the successors and assigns of the relevant party, whether
so expressed or not, and all such covenants, agreements, representations and
warranties shall inure to the benefit of the successors and assigns of the
parties hereto and to transferees of the Shares, whether so expressed or not.

 

5.2.         Entire Agreement.  The Transaction Documents constitute the full and entire
understanding and agreement among the parties hereto with respect to the subject
matters hereof and thereof, and any and all other written or oral agreements
existing prior to or contemporaneously herewith are expressly superseded and
canceled.

 

5.3.         Amendments Waivers and
Consents.  For the purposes of this Agreement
and all agreements, documents and instruments executed pursuant hereto, except
as otherwise specifically set forth herein or therein, no course of dealing
between the Company on the one hand and any Investor on the other and no delay
on the part of any party hereto in exercising any rights hereunder or
thereunder shall operate as a waiver of the rights hereof and thereof. 
Any term or provision hereof may be amended, terminated or waived (either
generally or in a particular instance and either retroactively or prospectively)
with the written consent of the Company and the holders of a majority interest
of the voting power of the Shares.  Any amendment or waiver effected in
accordance with this Section 5.3 shall be binding upon each holder of Shares
purchased under this Agreement at the time outstanding each future holder of
all such securities and the Company.

 

5.4.         Notices and Demands.  All notices, requests, demands and
other communications hereunder shall be in writing and shall be deemed to have
been duly given if faxed (with transmission acknowledgment received), delivered
personally or mailed by certified or registered mail (return receipt requested)
as follows:

 

	
  To
  the Company:

  	
  c/o
  Great Hill Partners, L.P.

  
	
   

  	
  1
  Liberty Square

  
	
   

  	
  Boston,
  MA 02109

  
	
   

  	
  Fax:
  (617) 790-9401

  
	
   

  	
  Attn:
  Christopher S. Gaffney

  
	
   

  	
   

  
	
  With
  a copy to:

  	
  Goodwin
  Procter LLP

  
	
   

  	
  Exchange
  Place

  
	
   

  	
  Boston,
  MA 02109

  
	
   

  	
  Attn: 
  David F. Dietz, P.C.

  
	
   

  	
  Facsimile
  Number (617) 523-1231

  

 

16

 

	
  To
  the

  Management

  Stockholders:

  	
  At
  the addresses listed in the signature pages hereto

  
	
   

  	
   

  
	
  With
  a copy to:

  	
  Cooley
  Godward LLP

  
	
   

  	
  3175
  Hanover Street

  
	
   

  	
  Palo
  Alto, CA 94304-1130

  
	
   

  	
  Fax
  No. (650) 849-7400

  
	
   

  	
  Attention: 
  Craig E. Dauchy

  

 

or to such other address or
fax number of which any party may notify the other parties as provided
above.  Notices shall be effective as of the date of such delivery,
mailing or fax.

 

5.5.         Severability.  Whenever possible, each provision of this Agreement shall be interpreted
in such a manner as to be effective and valid under applicable law, but if any
provision of this Agreement shall be deemed prohibited or invalid under such
applicable law, such provision shall be ineffective to the extent of such
prohibition or invalidity, and such prohibition or invalidity shall not
invalidate the remainder of such provision or the other provisions of this
Agreement.

 

5.6.         Expenses.  The Company agrees to pay all reasonable fees and disbursements
of counsel to the Investors in connection with the negotiation, preparation and
consummation of the Transaction Documents, and any subsequent amendment,
waiver, consent or enforcement thereof.

 

5.7.         Counterparts.  This Agreement and any Exhibit or Schedule hereto may be
executed in multiple counterparts, each of which shall constitute an original
but all of which shall constitute but one and the same instrument.  One or
more counterparts of this Agreement or any Exhibit or Schedule hereto may be
delivered via telecopier, with the intention that they shall have the same
effect as an original counterpart hereof.

 

5.8.         Effect of Headings;
Construction.  The descriptive headings in this
Agreement have been inserted for convenience only and shall not be deemed to
limit or otherwise affect the construction of any provision thereof or
hereof.  The parties have participated jointly in the negotiation and
drafting of the Transaction Documents with counsel sophisticated in investment
transactions.  In the event an ambiguity or question of intent or
interpretation arises, this Agreement and the agreements, documents and
instruments executed and delivered in connection herewith shall be construed as
if drafted jointly by the parties and no presumption or burden of proof shall
arise favoring or disfavoring any party by virtue of the authorship of any
provisions of this Agreement and the agreements, documents and instruments
executed and delivered in connection herewith..

 

5.9.         Governing Law.  This Agreement shall be deemed a contract made under the laws
of the State of Delaware and all disputes, claims or controversies arising out
of this Agreement, or the negotiation, validity or performance hereof or the
transactions contemplated herein, shall be construed under and governed by the
laws of such state, without giving effect to its conflicts of laws principles.

 

17

 

5.10.       Dispute Resolution.

 

(a)          
All disputes, claims, or controversies arising out of or relating to this
Agreement, or any other agreement executed and delivered pursuant to this
Agreement, or the negotiation, validity or performance hereof and thereof or
the transactions contemplated hereby and thereby, that are not resolved by
mutual agreement shall be resolved solely and exclusively by binding
arbitration to be conducted before J.A.M.S./Endispute, Inc. or its
successor.  The parties understand and agree that this arbitration
provision shall apply equally to claims of fraud or fraud in the inducement. 
The arbitration shall be held in Delaware before a single arbitrator and shall
be conducted in accordance with the rules and regulations promulgated by
J.A.M.S./Endispute, Inc. unless specifically modified herein.

 

The
parties covenant and agree that the arbitration shall commence within one
hundred twenty (120) days of the date on which a written demand for arbitration
is filed by any party hereto.  In connection with the arbitration
proceeding, the arbitrator shall have the power to order the production of
documents by each party and any third-party witnesses.  In addition, each
party may take up to three depositions as of right, and the arbitrator may in
his or her discretion allow additional depositions upon good cause shown by the
moving party.  However, the arbitrator shall not have the power to order
the answering of interrogatories or the response to requests for
admission.  In connection with any arbitration, each party shall provide
to the other, no later than fourteen (14) business days before the date of the
arbitration, the identity of all persons that may testify at the arbitration, a
copy of all documents that may be introduced at the arbitration or considered
or used by a party’s witness or expert, and a summary of the expert’s opinions
and the basis for said opinions.  The arbitrator’s decision and award
shall be made and delivered within sixty (60) days of the conclusion of the
arbitration.  The arbitrator’s decision shall set forth a reasoned basis
for any award of damages or finding of liability.  The arbitrator shall
not have power to award damages in excess of actual compensatory damages and
shall not multiply actual damages or award punitive damages or any other
damages that are specifically excluded under this Agreement, and each party
hereby irrevocably waives any claim to such damages.

 

The
parties covenant and agree that they will participate in the arbitration in
good faith and that they will share equally its costs, except as otherwise
provided herein.  Any party
unsuccessfully refusing to comply with an order of the arbitrators shall be
liable for costs and expenses, including attorneys’ fees, incurred by the other
party in enforcing the award.  This Section 5.10 applies equally to
requests for temporary, preliminary or permanent injunctive relief, except that
in the case of temporary or preliminary injunctive relief any party may proceed
in court without prior arbitration for the limited purpose of avoiding
immediate and irreparable harm.  The provisions of this Section 5.10 shall
be enforceable in any court of competent jurisdiction.

 

Subject
to the second sentence of the immediately preceding paragraph, the parties
shall bear their own attorneys’ fees, costs and expenses in connection with the
arbitration.  The parties will share equally in the fees and expenses
charged by J.A.M.S.

 

18

 

(b)          
Each of the parties hereto irrevocably and unconditionally consents to the
exclusive jurisdiction of J.A.M.S./Endispute, Inc. to resolve all disputes,
claims or controversies arising out of or relating to this Agreement or any
other agreement executed and delivered pursuant to this Agreement or the
negotiation, validity or performance hereof and thereof or the transactions contemplated
hereby and thereby and further consents to the jurisdiction of the courts of
Delaware for the purposes of enforcing the arbitration provisions of Section
5.10(a) of this Agreement.  Each party further irrevocably waives any
objection to proceeding before J.A.M.S./Endispute, Inc. based upon lack of
personal jurisdiction or to the laying of venue and further irrevocably and
unconditionally waives and agrees not to make a claim in any court that
arbitration before J.A.M.S./Endispute, Inc. has been brought in an inconvenient
forum.  Each of the parties hereto hereby consents to service of process
by registered mail at the address to which notices are to be given.  Each
of the parties hereto agrees that its or his submission to jurisdiction and its
or his consent to service of process by mail is made for the express benefit of
the other parties hereto.

 

[SIGNATURE PAGES FOLLOW NEXT]

 

19

 

IN WITNESS WHEREOF, the undersigned have executed this Securities Purchase Agreement as
of the day and year first above written.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  GHP
  ACQUISITION CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  CHRISTOPHER S. GAFFNEY

  	
   

  
	
   

  	
   

  	
  Name:    
  Christopher S. Gaffney

  
	
   

  	
   

  	
  Title:      
  President

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  c/o
  Great Hill Partners, L.P.

  
	
   

  	
  1
  Liberty Square

  
	
   

  	
  Boston,
  MA 02109

  
	
   

  	
  Fax:
  (617) 790-9401

  
	
   

  	
  Attn:
  Christopher S. Gaffney

  

 

[Signature Page to Purchase Agreement]

 

 

	
   

  	
  INVESTORS:

  
	
   

  	
   

  
	
   

  	
  GREAT
  HILL EQUITY PARTNERS II

  LIMITED PARTNERSHIP,

  
	
   

  	
   

  
	
   

  	
  By: 
  Great Hill Partners GP II, LLC, its

  General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  CHRISTOPHER S. GAFFNEY

  	
   

  
	
   

  	
   

  	
  Name:    
  Christopher S. Gaffney

  
	
   

  	
   

  	
  Title:      
  Manager

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  c/o
  Great Hill Partners, L.P.

  
	
   

  	
  1
  Liberty Square

  
	
   

  	
  Boston,
  MA 02109

  
	
   

  	
  Fax:
  (617) 790-9401

  
	
   

  	
  Attn:
  Christopher S. Gaffney

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  GREAT
  HILL AFFILIATE PARTNERS II

  LIMITED PARTNERSHIP,

  
	
   

  	
   

  
	
   

  	
  By: 
  Great Hill Partners GP II, LLC, its

  General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  CHRISTOPHER S. GAFFNEY

  	
   

  
	
   

  	
   

  	
  Name:    
  Christopher S. Gaffney

  
	
   

  	
   

  	
  Title:      
  Manager

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
  c/o
  Great Hill Partners, L.P.

  
	
   

  	
  1
  Liberty Square

  
	
   

  	
  Boston,
  MA 02109

  
	
   

  	
  Fax:
  (617) 790-9401

  
	
   

  	
  Attn:
  Christopher S. Gaffney

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

	
   

  	
  MANAGEMENT STOCKHOLDERS:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/
  CHRISTOPHER ANDERSON

  	
   

  
	
   

  	
  Christopher
  Anderson

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
  PO
  Box 620952

  	
   

  
	
   

  	
  Woodside

  	
   

  
	
   

  	
  CA 94062

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/
  MARK JUNG

  	
   

  
	
   

  	
  Mark
  Jung

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
  12720
  Dianne Drive

  	
   

  
	
   

  	
  Los
  Altos Hills, CA 94022

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/
  KENNETH KELLER

  	
   

  
	
   

  	
  Kenneth
  Keller

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
  3386
  Royal Meadow Ln

  	
   

  
	
   

  	
  San
  Jose, CA 95135

  	
   

  
	
   

  	
   

  	
   

  

 

 

EXHIBIT A

 

FORM OF CERTIFICATE OF INCORPORATION

 

Exhibit A

 

AMENDED AND RESTATED

CERTIFICATE OF INCORPORATION

 

OF

 

GHP ACQUISITION CORP.

 

GHP Acquisition Corp. a
corporation organized and existing under the General Corporation Law of the
State of Delaware (the “Corporation”), DOES HEREBY CERTIFY:

 

FIRST: The original
Certificate of Incorporation of the Corporation was filed with the Secretary of
State of Delaware on April 28, 2003.

 

SECOND: This Amended and
Restated Certificate of Incorporation of the Corporation in the form attached
hereto as Exhibit A has been duly adopted in accordance with the provisions of
Sections 242 and 245 of the General Corporation Law of the State of Delaware by
the directors and stockholders of the Corporation.

 

THIRD: The Amended and
Restated Certificate of Incorporation so adopted reads in full as set forth in Exhibit
A attached hereto and is hereby incorporated herein by this reference.

 

IN WITNESS WHEREOF, the
Corporation has caused this Certificate to be signed by its Chief Executive
Officer this
                           
day of
                         ,
2003.

 

	
   

  	
  GHP
  ACQUISITION CORP.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/

  	
   

  

 

 

AMENDED AND RESTATED

 

CERTIFICATE OF INCORPORATION

 

OF

 

GHP ACQUISITION CORP.

 

ARTICLE I

 

The name of the Corporation
is GHP Acquisition Corp.

 

ARTICLE II

 

The address of the
Corporation’s registered office in the State of Delaware is 1209 Orange Street
in the City of Wilmington, County of New Castle.  The name of its
registered agent at such address is The Corporation Trust Company..

 

ARTICLE III

 

The purpose of the
Corporation is to engage in any lawful act or activity for which corporations
may be organized under the General Corporation Law of the State of Delaware.

 

ARTICLE IV

 

The total number of shares
of capital stock which the Corporation shall have authority to issue is
72,000,000, consisting of (a) 70,500,000 shares of preferred stock, par value
$0.01 per share, of which (i) 70,273,074 shares shall be designated Series A
Redeemable Preferred Stock, par value $0.01 per share (the “Series A
Redeemable Preferred Stock”), and (ii) 226,926 shares shall be undesignated
preferred stock, par value $.01 per share (the “Undesignated Preferred Stock”
and, together with the Series A Redeemable Preferred Stock, the “Preferred
Stock”) and (b) 1,500,000 shares shall be designated Common Stock, par
value $.01 per share (the “Common Stock”).

 

The voting powers,
designations, preferences, powers and relative, participating, optional or
other special rights, and the qualifications, limitations or restrictions of
each class of capital stock of the Corporation, shall be as provided in this
Article IV.

 

A.   SERIES A REDEEMABLE PREFERRED STOCK

 

1.            
Designation.  A total of 71,791,546 shares of the Corporation’s
Preferred Stock shall be designated as a series known as Series A Redeemable
Preferred Stock.

 

2.            
Dividends.  The holders of outstanding shares of Series A
Redeemable Preferred Stock shall be entitled to receive, when, as and if
declared by the Board of Directors out of funds legally available therefor,
prior to the payment of any dividends on the Common Stock or any

 

 

other class or series of
capital stock ranking with respect to the payment of dividends junior to the
Series A Redeemable Preferred Stock, dividends at the rate of six per cent (6%)
of the per share purchase price of One Dollar ($1.00) per annum per share of
Series A Redeemable Preferred Stock (as adjusted for subsequent stock
dividends, stock splits, combinations, recapitalizations or the like with
respect to such share) from the date of original issuance of such share, which
dividends shall be cumulative and accrue daily in arrears and be compounded
annually, whether or not such dividends are declared by the Board of Directors
or paid.

 

3.            
Liquidation; Merger, etc.

 

(a)          
Liquidation Preference.  Upon any liquidation, dissolution or
winding up of the Corporation, whether voluntary or involuntary (a “Liquidation
Event”), each holder of outstanding shares-of Series A Redeemable Preferred
Stock shall be entitled to be paid in cash, before any amount shall be paid or
distributed to the holders of Common Stock or any other class or series of
capital stock ranking on liquidation junior to the Series A Redeemable
Preferred Stock, an amount per share of Series A Redeemable Preferred Stock
equal to (i) One Dollar ($1.00), plus (ii) an amount equal to all
accumulated but unpaid dividends on such share, of Series A Redeemable
Preferred Stock (such amount to be adjusted appropriately for stock splits,
stock dividends, recapitalizations and the like with respect to the Series A
Redeemable Preferred Stock) (the “Series A Redeemable Liquidation Preference
Amount”).  If the amounts available for distribution by the
Corporation to holders of Series A Redeemable Preferred Stock upon a
Liquidation Event are not sufficient to pay the aggregate Series A Redeemable
Liquidation Preference Amount due to such holders, such holders of Series A
Redeemable Preferred Stock shall share ratably in any distribution in
proportion to the full respective preferential amounts to which they are
entitled.

 

(b)          
Remaining Assets.  In connection with a Liquidation Event, after
the prior payment in full of the aggregate Series A Redeemable Liquidation
Preference Amount and, thereafter, any amount payable upon a Liquidation Event
to the holders of any other class or series of capital stock ranking on
liquidation senior to the Common Stock, the remaining assets and funds of the
Corporation available for distribution to its stockholders, if any, shall be
distributed among the holders of Common Stock then outstanding.

 

(c)          
Amount Payable in Mergers, etc.  The holders of not less than a
majority of the outstanding shares of Series A Redeemable Preferred Stock (a “Series
A Redeemable, Majority Interest”) may elect to have treated as a
Liquidation Event: (i) any merger or consolidation of the Corporation into or
with another corporation (except one in which the holders of capital stock of
the Corporation immediately prior to such merger or consolidation continue to
hold, in substantially the same relative proportions, at least a majority of
the voting power of the capital stock of the surviving corporation), (ii) any
sale, lease or transfer of all or substantially all of the assets of the
Corporation, or (iii) any other transaction pursuant to or as a result of which
a single person (or group of affiliated persons) acquires or holds capital
stock of the Corporation representing a majority of the Corporation’s
outstanding voting power (a “Change of Control Transaction”).  If
such election is made, all consideration payable to the stockholders of the
Corporation in connection with any such merger, consolidation, or Change of
Control Transaction, or all consideration payable to the Corporation and
distributable to its stockholders, together with all other available assets of
the Corporation (net of obligations owed

 

2

 

by the Corporation that are
senior to any outstanding Series A Redeemable Preferred Stock), in connection
with any such asset sale, shall be, paid by the purchaser to the holders of, or
distributed by the Corporation in redemption (out of funds legally available
therefor) of, the capital stock of the Corporation in accordance with the
preferences and priorities set forth in Section A.3(a) and Section A.3(b),
above, with such preferences and priorities specifically intended to be
applicable in any such merger, consolidation, asset sale, or Change of Control
Transaction as if such transaction were a Liquidation Event.  In
furtherance of the foregoing, the Corporation shall take such actions as are
necessary to give effect to the provisions of this Section A.3(c), including
without limitation, (i) in the case of a merger, consolidation or Change of
Control Transaction, causing the definitive agreement relating to such merger,
consolidation or Change of Control Transaction to provide for a rate at which
the shares of capital stock of the Corporation are converted into or exchanged
for cash, new securities or other property which gives effect to the
preferences and priorities-of the capital stock of the Corporation as set forth
in Section A.3(a) and Section A.3(b) above, or (ii) in the case of an asset
sale, redeeming in full the Series A Redeemable Preferred Stock on the terms
provided herein.  The Corporation shall promptly provide to the holders of
shares of Series A Redeemable Preferred Stock such information concerning the
terms of such merger, consolidation, asset sale, or Change of Control
Transaction and the value of the assets of the Corporation as may reasonably be
requested by the holders of the Series A Redeemable Preferred Stock.  The
amount deemed distributed to the holders of shares of capital stock of the
Corporation upon any such transaction shall be the cash or the value of the
property, rights or securities distributed to such holders by the Corporation
or the acquiring person, firm or other entity.  Any election pursuant to
this Section A.3(c) by a Series A Redeemable Majority Interest shall be made by
written notice to the Corporation at least five (5) days prior to the closing
of the relevant transaction.  Upon any such election, all holders of
Series A Redeemable Preferred Stock, shall be deemed to have made such election
and such election shall bind all such holders.

 

(d)          
Valuation of Securities or Other Non-Cash Consideration.  For
purposes of valuing any securities or other noncash consideration to be
delivered to the holders of the Series A Redeemable Preferred Stock in
connection with any transaction to which Section A.3(c) is applicable, the
following shall apply:

 

(i)           
If any such securities are traded on a nationally recognized securities
exchange or inter-dealer quotation system, the value shall be deemed to be the
average of the closing prices of such securities on such exchange or system
over the 30-day period ending three (3) business days prior to the closing;

 

(ii)          
If any such securities are traded over-the-counter, the value shall be deemed
to be the average of the closing bid prices of such securities over the 30-day
period ending three (3) business days prior to the closing; and

 

(iii)         
If there is no active public market for such securities or other noncash
consideration, the value shall be the fair market value thereof, as mutually
determined in good faith by the Corporation and the holders of not less than a
Series A Redeemable Majority Interest, provided that if the Corporation and the
holders of such applicable majority interest are unable to reach agreement,
then by independent appraisal

 

3

 

by a mutually agreed to
investment banker, the fees of which shall be paid by the Corporation.

 

4.            
Redemption.  The Series A Redeemable Preferred Stock shall be
entitled to the redemption rights set forth in this Section A.4.

 

(a)          
Optional Redemption.  The holders of a Series A Redeemable Majority
Interest may elect to have all (but not less than all) of the outstanding
shares of Series A Redeemable Preferred Stock redeemed (A) on or at any time
after the fifth (5t) anniversary of the date of original issuance of the Series
A Redeemable Preferred Stock (the “Series A, Redeemable Closing Date”),
or (B) upon the closing of the Corporation’s initial public offering of common
equity securities pursuant to an effective registration statement under the
Securities Act of 1933, as amended.  In such event, the Corporation shall
redeem all (but not less than all) of the outstanding shares of Series A
Redeemable Preferred Stock in cash, out of funds legally available therefor, at
the Series A Redeemable Redemption Price specified in Section A.4(b).  Any
election by a Series A Redeemable Majority Interest pursuant to this Section
A.4(a) shall be made by written notice to the Corporation and the other holders
of Series A Redeemable Preferred Stock at least fifteen (15) days prior to the
date elected by the Series A Redeemable Majority Interest for redemption (the “Series
A Redeemable Redemption Date”).  Upon such election, all holders of
Series A Redeemable Preferred Stock shall be deemed to have elected to have
their shares of Series A Redeemable Preferred Stock redeemed pursuant to this
Section A.4(a) and such election shall bind all holders of Series A Redeemable
Preferred Stock.

 

(b)          
Redemption Price.  The price for each share of Series A Redeemable
Preferred Stock redeemed pursuant to this Section A.4 shall be an amount equal
to the Series A Redeemable Liquidation Preference Amount, (such amount to be
adjusted appropriately for stock splits, stock dividends, combinations,
recapitalizations (the “Series A Redeemable Redemption Price”)). 
The aggregate Series A Redeemable Redemption Price shall be payable, out of
funds legally available therefor, in cash in immediately available funds to the
respective holders of the Series A Redeemable Preferred Stock on the Series A
Redeemable Redemption Date.

 

(c)          
Insufficient Funds.  If the funds of the Corporation legally
available to redeem shares of Series A Redeemable Preferred Stock on the Series
A Redeemable Redemption Date, are insufficient to redeem the total number of
such shares required to be redeemed on such date, the Corporation shall take
any action necessary or appropriate, to the extent reasonably within its
control, to remove promptly any impediments to its ability to redeem the total
number of shares of Series A Redeemable Preferred Stock required to be so
redeemed, and, in any event, shall use any funds that are legally available to
redeem the maximum possible number of such shares from the holders of such
shares to be redeemed in proportion to the respective number of such shares
that otherwise would have been redeemed if all such shares had been 
redeemed in full.  At any time thereafter when additional funds of the
Corporation are legally available to redeem such shares of Series A Redeemable
Preferred Stock, the Corporation shall immediately use such funds to redeem the
balance of the shares which the Corporation has become obligated to redeem on
the Series A Redeemable Redemption Date, (but which it has not redeemed), at
such Series A Redeemable Redemption Price.

 

4

 

(d)          
Dividend After Redemption Date.  In the event that shares of Series
A Redeemable Preferred Stock, required to be redeemed are not redeemed and
continue to be outstanding, such shares shall continue to be entitled to
dividends thereon as provided in Section A.2 until the date on which the
Corporation actually redeems such shares.

 

(e)          
Surrender of Certificates.  Each holder of shares of Series A
Redeemable Preferred Stock to be redeemed shall surrender the certificate or
certificates representing such shares to the Corporation, duly assigned or
endorsed for transfer to the Corporation (or accompanied by duly executed stock
powers relating thereto), or, in the event the certificate or certificates are
lost, stolen or missing, shall deliver an affidavit of loss, at the principal
executive office of the Corporation or such other place as the Corporation may
from time to time designate by notice to the holders of Series A Redeemable
Preferred Stock, and each surrendered certificate shall be canceled and retired
and the Corporation shall thereafter make payment of the applicable redemption
price by certified check or wire transfer, provided, however,
that if the Corporation has insufficient funds legally available to redeem all
shares of Series A Redeemable Preferred Stock, , required to be redeemed, each
holder shall, in addition to receiving the payment of the portion of the
aggregate redemption price that the Corporation is not legally prohibited from
paying to such holder by certified check or wire transfer, receive a new stock
certificate for those shares of Series A Redeemable Preferred Stock not so
redeemed.

 

5.            
Covenants.

 

(a)          
The Corporation shall not, without first having provided written notice of such
proposed action to each holder of outstanding shares of Series A Redeemable
Preferred Stock and having obtained the affirmative vote or written consent of
the holders of a Series A Redeemable Majority Interest:

 

(i)           
declare or pay any dividends on, or make any distributions of cash, property or
securities of the Corporation in respect of, or apply any of its assets to the
redemption, retirement, purchase or other acquisition of, the Common Stock or
any other class or series of capital stock ranking with respect to dividends
and upon liquidation and redemption junior to the Series A Redeemable Preferred
Stock, directly or indirectly, through subsidiaries or otherwise, except for
the redemption or repurchase of any Excluded Shares pursuant to the terms of
any agreements entered into between the Corporation and any holders of such
Excluded Shares which have been approved by the Corporation’s Board of
Directors; or

 

(ii)          
amend or alter the designations, preferences, powers and/or the relative,
participating, optional or other special rights, or the restrictions provided
for the benefit of, the Series A Redeemable Preferred Stock.

 

Further, the Corporation
shall not, by amendment, alteration or repeal of Article N, Section A of this
Amended and Restated Certificate of Incorporation (whether by merger,
consolidation, operation of law, or otherwise) or through any Liquidation Event
or any reorganization, recapitalization, transfer of assets, consolidation,
merger, dissolution, issue or sale of securities, agreement or any other
voluntary action, avoid or seek to avoid the observance or performance of any
of the terms to be observed or performed hereunder by the Corporation

 

5

 

and shall at all times in
good faith assist in the carrying out of all the provisions of Article N,
Section A of this Amended and Restated Certificate of Incorporation and in the
taking of all such action as may be necessary or appropriate in order to
protect the rights of the holders of the Series A Redeemable Preferred Stock
under Article IV, Section A of this Amended and Restated Certificate of
Incorporation against impairment.  Any successor to the Corporation shall
agree in writing, as a condition to such succession, to carry out and observe
the obligations of the Corporation hereunder with respect to the Series A
Redeemable Preferred Stock.

 

6.            
Notice.

 

(a)          
Liquidation Events, Etc.  In the event (i) the Corporation
establishes a record date to determine the holders of any class of securities
who are entitled to receive any dividend or other distribution or who are
entitled to vote at a meeting (or by written consent) in connection with any of
the transactions identified in clause (ii) hereof, or (ii) any Liquidation
Event, event deemed a Liquidation Event pursuant to Section A.3(c) hereof, or
initial public offering becomes reasonably likely to occur, the Corporation
shall mail or cause to be mailed by first class mail (postage prepaid) to each
holder of Series A Redeemable Preferred Stock at least ten (10) days prior to
such record date specified therein or the expected effective date of any such
transaction, whichever is earlier, a notice specifying (A) the date of such
record date for the purpose of such dividend or distribution or meeting or
consent and a description of such dividend or distribution or the action to be
taken at such meeting or by such consent, (B) the date on which any such
Liquidation Event, event deemed a Liquidation Event pursuant to Section A.4(c)
hereof, or public offering is expected to become effective, and (C) the date on
which the books of the Corporation shall close or a record shall be taken with
respect to any such event.  Such notice shall be accompanied by a
certificate prepared by the chief financial officer of the Corporation
describing in detail (1) the facts of such transaction, (2) the amount per
share of Series A Redeemable Preferred Stock each holder of Series A Redeemable
Preferred Stock, would receive pursuant to the applicable provisions of this
Amended and Restated Certificate of Incorporation, if any, and (3) the facts
upon which such amounts were determined.

 

(b)          
Waiver of Notice.  The holder or holders of a Series A Redeemable
Majority Interest, , may, at any time upon written notice to the Corporation,
waive any notice provisions specified herein for the benefit of such holders,
and any such waiver shall be binding upon all holders of such securities.

 

(c)          
Other Waivers.  The holder or holders of a Series A Redeemable
Majority Interest, , may, at any time upon written notice to the Corporation,
waive compliance by the Corporation with any term or provision herein, provided
that any such waiver does not affect any holder of outstanding shares of Series
A Redeemable Preferred Stock, , in a, manner materially different than any
other holder thereof, and any such waiver shall be binding upon all holders of
Series A Redeemable Preferred Stock, and their respective transferees.

 

(d)          
General.  In the event that the Corporation provides any notice,
report or statement to any holder of Common Stock, the Corporation shall at the
same time provide a copy of any such notice, report or statement to each holder
of outstanding shares of Series A Redeemable Preferred Stock.

 

6

 

7.            
No Reissuance of Redeemable Preferred Stock.  No share or shares of
Series A Redeemable Preferred Stock acquired by the Corporation by reason of
redemption or otherwise shall be reissued, and all such shares shall be
canceled, retired and eliminated from the shares which the Corporation shall be
authorized to issue.

 

8.            
Contractual Rights of Holders.  The various provisions set forth
herein for the benefit of the holders of the Series A Redeemable Preferred
Stock shall be deemed contract rights enforceable by them, including, without
limitation, by one or more actions for specific performance.

 

B.   UNDESIGNATED PREFERRED STOCK

 

Undesignated Preferred Stock
may be issued from time to time in one or more series, each of such series to
have such terms as stated or expressed herein and in the resolution or
resolutions providing for the issue of such series adopted by the Board of
Directors of the Corporation as hereinafter provided.  Any shares of
Undesignated Preferred Stock that may be redeemed, purchased or otherwise
acquired by the Corporation may be reissued except as otherwise provided by law
or this Amended and Restated Certificate of Incorporation.  Different
series of Undesignated Preferred Stock shall not be construed to constitute
different classes of shares for the purposes of voting by classes unless
expressly provided.

 

Subject to any limitation in
such authority contained in this Amended and Restated Certificate of
Incorporation, as the same may be amended and/or amended and restated from time
to time, authority is hereby expressly granted to the Board of Directors from
time to time to issue the Undesignated Preferred Stock in one or more series,
and in connection with the creation of any such series, by resolution or
resolutions providing for the issue of the shares thereof, to determine and fix
such voting powers, whether full, limited, or none, and such designations,
preferences and relative participating, optional or other special rights, and
qualifications, limitations or restrictions thereof, including, without
limitation thereof, dividend rights, conversion rights, redemption privileges
and liquidation preferences, as shall be stated and expressed in such
resolutions, all to the full extent now or hereafter permitted by the General
Corporation Law of Delaware and the terms of this Amended and Restated
Certificate of Incorporation, as the same may be amended and/or amended and
restated from time to time.  Without limiting the generality of the
foregoing, the resolutions providing for the issuance of, and the terms of, any
series of Undesignated Preferred Stock may provide that such series shall be
superior or rank equally or be junior to the Preferred Stock of any other
series, other than the Series A Preferred Stock, to the extent permitted by law
and the terms of this Amended and Restated Certificate of Incorporation, as the
same may be amended and/or amended and restated from time to time.  Except
as otherwise specifically provided in this Amended and Restated Certificate of
Incorporation, as the same may be amended and/or amended and restated from time
to time, no vote of the holders of the Preferred Stock or Common Stock shall be
required for the issuance of any shares of any series of the Undesignated
Preferred Stock authorized by and complying with the conditions of the Amended
and Restated Certificate of Incorporation, as the same may be amended and/or,
amended and restated from time to time, the right to have such vote being
expressly waived by all present and future holders of the capital stock of the
Corporation.

 

7

 

C.   COMMON STOCK

 

1.            
Voting.

 

(a)          
Election of Directors.  The holders of Common Stock shall be
entitled to elect all of the Directors of the Corporation other than those
directors that, under this Amended and Restated Certificate of Incorporation,
as the same may be amended and/or amended and restated from time to time, are
to be specifically designated or elected by the holders of any particular class
or series of capital stock of the Corporation.  Such Director(s) shall be
elected by a plurality vote, with the elected candidates being the candidates
receiving the greatest number of affirmative votes (with each holder entitled
to cast one vote for or against each candidate with respect to each share held
by such holder), with votes cast against such candidates and votes withheld
having no legal effect.  The election of such Directors shall occur at the
annual meeting of holders of capital stock or at any special meeting called and
held in accordance with the by-laws of the Corporation, or by consent in lieu
thereof in accordance with this Amended Restated Certificate of Incorporation,
as the same may be amended and/or amended and restated from time to time, the
by-laws of the Corporation and applicable law.

 

(b)          
Voting Generally.  Except as otherwise expressly provided herein or
required by law, each holder of outstanding shares of Common Stock shall be
entitled to one (1) vote in respect of each share of Common Stock held thereby
of record on the books of the Corporation for the election of directors and on
all matters submitted to a vote of stockholders of the Corporation.

 

2.            
Dividends.  Subject to the payment in full of all preferential
dividends to which the holders of the Series A Redeemable Preferred Stock or
any other class or series of capital stock ranking with respect to the payment
of dividends senior to the Common Stock are entitled hereunder, the holders of
Common Stock shall be entitled to receive dividends out of funds legally
available therefor at such times and in such amounts as the Board of Directors
may determine in its sole discretion.

 

3.            
Liquidation.  Upon any Liquidation Event, including any event
deemed to be a Liquidation Event pursuant to Section A.3(c) above, after the
payment or provision for payment of all debts and liabilities of the
Corporation and all preferential amounts to which the holders of the Series A
Redeemable Preferred Stock and any other class or series of capital stock
ranking on liquidation senior to the Common Stock are entitled with respect to
the distribution of assets in liquidation, the holders of Common Stock shall be
entitled to share ratably in the remaining assets of the Corporation available
for distribution, as contemplated by Section A.3.

 

ARTICLE V

 

In furtherance of and not in
limitation of powers conferred by statute, it is further provided:

 

1.            
Election of Directors need not be by written ballot unless the by-laws of the
Corporation so provide.

 

8

 

2.            
Except as otherwise specifically provided in this Amended and Restated
Certificate of Incorporation, as the same may be amended and/or amended and
restated from time to time, the Board of Directors is expressly authorized to
adopt, amend or repeal the by-laws of the Corporation to the extent specified
therein.

 

ARTICLE VI

 

Meetings of stockholders may
be held within or without the State of Delaware, as the by-laws may provide.

 

ARTICLE VII

 

To the extent permitted by
law, the books of the Corporation may be kept outside the State of Delaware at
such place or places as may be designated in the by-laws of the Corporation or
from time to time by its Board of Directors.

 

ARTICLE VIII

 

A Director of the
Corporation shall not be personally liable to the Corporation or its
stockholders for monetary damages for breach of his or her fiduciary duty as a
Director of the Corporation, except for liability (a) for any breach of the
Director’s duty of loyalty to the Corporation or its stockholders, (b) for acts
or omissions not in good faith or which involve intentional misconduct or a
knowing violation of law, (c) under Section 174 of the Delaware General
Corporation Law, or (d) for any transaction from which the Director derived an
improper personal benefit.  If the Delaware General Corporation Law is
amended after the effective date of this Amended and Restated Certificate of
Incorporation to authorize corporate action further eliminating or limiting the
personal liability of directors, then the liability of a Director of the
Corporation shall be eliminated or limited to the fullest extent permitted by
the Delaware General Corporation Law.

 

Any repeal or modification
of this Article VIII by the stockholders of the Corporation or by an amendment
to the Delaware General Corporation Law shall not adversely affect any right or
protection existing at the time of such repeal or modification with respect to
any acts or omissions occurring either before or after such repeal or
modification, of a person serving as a Director prior to or at the time of such
repeal or modification.

 

ARTICLE IX

 

Except as otherwise provided
herein, the Corporation reserves the right to amend, alter, change or repeal
any provision contained in this Amended and Restated Certificate of
Incorporation, in the manner now or hereafter prescribed by statute, and all
rights conferred upon stockholders herein are granted subject to this reservation.

 

9

 

 

EXHIBIT B

 

FORM OF STOCKHOLDERS AGREEMENT

 

 

 

STOCKHOLDERS AGREEMENT

 

By and Among

 

GHP Acquisition Corp.,

 

The Management Stockholders

 

and

 

The Investors

 

as defined herein

 

Dated as of
                
     , 2003   

 

 

Table of Contents

 

	
  SECTION 1.

  	
  DEFINITIONS

  	
   

  
	
  Section 1.1

  	
  Constriction of Terms

  	
   

  
	
  Section
  1.2

  	
  Terms
  Not Defined

  	
   

  
	
  Section 1.3

  	
  Number of Shares of Stock

  	
   

  
	
  Section 1.4

  	
  Defined Term

  	
   

  
	
  SECTION 2.

  	
  REPRESENTATIONS AND
  WARRANTIES

  	
   

  
	
  Section 2.1

  	
  Representations
  and Warranties of the Investors

  	
   

  
	
  Section 2.2

  	
  Representations
  and Warranties of the Management Stockholders

  	
   

  
	
  Section
  2.3

  	
  Representations
  and Warranties of the Company

  	
   

  
	
  SECTION 3.

  	
  RESTRICTIONS ON
  TRANSFER; RIGHT OF REFUSAL; CO-SALE PROVISIONS

  	
   

  
	
  Section 3.1

  	
  Restrictions on Transfer

  	
   

  
	
  Section
  3.2

  	
  Permitted
  Transfers

  	
   

  
	
  Section
  3.3

  	
  Right
  of Refusal

  	
   

  
	
  Section 3.4

  	
  Co-Sale Option of
  Stockholders

  	
   

  
	
  Section 3.5

  	
  Contemporaneous Transfers

  	
   

  
	
  Section 3.6

  	
  Assignment

  	
   

  
	
  Section 3.7

  	
  Effect of Prohibited
  Transfers

  	
   

  
	
  SECTION 4.

  	
  RIGHTS AND OBLIGATIONS
  TO SELL

  	
   

  
	
  Section
  4.1

  	
  Drag-Along-Right

  	
   

  
	
  Section
  4.2

  	
  Tag-Along
  Right

  	
   

  
	
  Section 4.3

  	
  Procedure

  	
   

  
	
  SECTION
  5.

  	
  RIGHTS
  TO PURCHASE

  	
   

  
	
  Section
  5.1

  	
  Right
  to Participate in Certain Sales of Additional Securities

  	
   

  
	
  Section 5.2

  	
  Stockholder Acceptance

  	
   

  
	
  Section 5.3

  	
  Calculation of Pro Rata
  Allot

  	
   

  
	
  Section
  5.4

  	
  Sale
  to Third Party

  	
   

  
	
  Section 5.5

  	
  Exceptions to
  Pre-emptive Rights

  	
   

  
	
  Section
  5.6

  	
  Assignment
  of Rights

  	
   

  
				

 

i

 

	
  SECTION 6.

  	
  ELECTION OF DIRECTORS

  	
   

  
	
  Section
  6.1

  	
  Board
  Composition

  	
   

  
	
  Section 6.2

  	
  Termination

  	
   

  
	
  Section 6.3

  	
  Assignment

  	
   

  
	
  SECTION 7.

  	
  COVENANTS OF THE COMPANY

  	
   

  
	
  Section 7.1

  	
  Financial
  Statements, Reports, Etc

  	
   

  
	
  Section
  7.2

  	
  Corporate
  Existence

  	
   

  
	
  Section 7.3

  	
  Properties, Business
  Insurance

  	
   

  
	
  Section
  7.4

  	
  Key
  Person Insurance

  	
   

  
	
  Section 7.5

  	
  Inspection,
  Consultation and Advice

  	
   

  
	
  Section 7.6

  	
  Compensation of Directors

  	
   

  
	
  Section 7.7

  	
  Board of Directors Meetings

  	
   

  
	
  Section 7.8

  	
  By-laws

  	
   

  
	
  Section 7.9

  	
  Restrictive
  Agreements Prohibited

  	
   

  
	
  Section
  7.10

  	
  Compliance
  with Laws

  	
   

  
	
  Section 7.11

  	
  Keeping of
  Records and Books of Account

  	
   

  
	
  Section 7.12

  	
  Qualified Small Business
  Stock

  	
   

  
	
  Section
  7.13

  	
  Lock-Up
  Agreements

  	
   

  
	
  Section 7.14

  	
  Affiliated Transactions

  	
   

  
	
  Section 7.15

  	
  Management Compensation

  	
   

  
	
  Section 7.16

  	
  Financings

  	
   

  
	
  Section 7.17

  	
  Expenses

  	
   

  
	
  Section 7.18

  	
  Indemnification

  	
   

  
	
  Section
  7.19

  	
  Term

  	
   

  
	
  SECTION 8.

  	
  MISCELLANEOUS PROVISIONS

  	
   

  
	
  Section 8.1

  	
  Survival of Covenants

  	
   

  
	
  Section
  8.2

  	
  Legend
  on Securities

  	
   

  
	
  Section 8.3

  	
  Amendment
  and Waiver: Actions of the Board

  	
   

  
	
  Section
  8.4

  	
  Notices

  	
   

  
	
   

  	
   

  	
   

  	
   

  

 

ii

 

	
  Section
  8.5

  	
  Headings

  	
   

  
	
  Section 8.6

  	
  Counterparts

  	
   

  
	
  Section 8.7

  	
  Remedies;
  Severability

  	
   

  
	
  Section 8.8

  	
  Entire Agreement

  	
   

  
	
  Section 8.9

  	
  Adjustments

  	
   

  
	
  Section 8.10

  	
  Law Governing

  	
   

  
	
  Section 8.11

  	
  Successors and
  Assigns

  	
   

  
	
  Section 8.12

  	
  Dispute Resolution

  	
   

  
	
   

  	
   

  	
   

  
	
  EXHIBITS

  	
   

  	
   

  
	
  Exhibit A —

  	
  Form of Joinder Agreement

  	
   

  
	
   

  	
   

  	
   

  
	
  SCHEDULES

  	
   

  	
   

  
	
  Schedule A —

  	
  Investors
  and Management Stockholders

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  

 

iii

 

STOCKHOLDERS AGREEMENT

 

THIS STOCKHOLDERS AGREEMENT
(the “Agreement”) is made as of
                     ,
2003, by and among GHP Acquisition Corp., a Delaware corporation
(the “Company”), the individuals identified on Schedule A hereto as
Management Stockholders (collectively, the “Management Stockholders,” and each
individually, a “Management Stockholder”), the Persons identified on Schedule
A hereto as the Investors (each, an “Investor” and collectively, the
“Investors”) and any other stockholder or option holder who from time to time
becomes party to this Agreement by execution of a Joinder Agreement in
substantially the form attached hereto as Exhibit A.  The
Management Stockholders and the Investors are sometimes referred to herein
collectively as the “Stockholders,” and each individually,
a “Stockholder.”

 

WHEREAS, on the date hereof,
the Investors are purchasing shares of the Company’s Series A Redeemable
Preferred Stock, par value $.01 per share (the “Series A Preferred Stock”), and
shares of the Company’s Common Stock, par value $.01 per share, (the “Common
Stock” and together with the Series A Preferred Stock, the “Securities”)
pursuant to that certain Securities Purchase Agreement dated May
      , 2003 between the Company and the
Investors (the “Purchase Agreement”);

 

WHEREAS, on the date hereof,
the Management Stockholders are purchasing the Shares as set forth in the
Purchase Agreement;

 

WHEREAS, it is a condition
to the obligations of the Stockholders under the Purchase Agreement that this
Agreement be executed by the parties hereto, and the parties are willing to
execute this Agreement and be bound by the provisions hereof; and

 

WHEREAS, the parties hereto
desire to agree upon the terms on which the securities of the Company, now or
hereafter outstanding and held by them, will be held, transferred and voted.

 

NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants and agreements
hereinafter set forth, the parties hereto agree as follows:

 

SECTION
1.         DEFINITIONS

 

Section 1.1  Constriction
of Terms.  As used herein, the masculine, feminine
or neuter gender, and the singular or plural number, shall be deemed to be or
to include the other genders or number, as the case may be, whenever the
context so indicates or requires.

 

Section 1.2  Terms Not
Defined.  Capitalized terms used herein and not
otherwise defined shall have the meanings ascribed to them in the Purchase
Agreement.

 

Section 1.3  Number
of Shares of Stock.  Whenever any provision of this
Agreement calls for any calculation based on a number of shares of capital
stock issued and outstanding or held by a Stockholder, the number of shares
deemed to be issued and outstanding or held by that

 

 

Stockholder, as applicable,
shall be the total number of shares of Common Stock then issued and outstanding
or owned by the Stockholder, as applicable.

 

Section 1.4  Defined Term.  The following capitalized terms, as used in this Agreement,
shall have the meanings set forth below.

 

An “Affiliate” of any Person
means a Person that, directly or indirectly, through one or more intermediaries,
controls, is controlled by or is under common control with the first mentioned
Person.  A Person shall be deemed to control another Person if such first
Person possesses, directly or indirectly, the power to direct, or cause the
direction of, the management and policies of the second Person, whether through
the ownership of voting securities, by contract or otherwise.

 

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

 

“Charter” means Company’s
Amended and Restated Certificate of Incorporation in effect as of the date
hereof.

 

“Code” means the Internal
Revenue Code of 1986, as amended.

 

“Common Stock” means the
Common Stock and any other common equity securities issued by the Company, and
any other shares of stock issued or issuable with respect thereto (whether by
way of a stock dividend or stock split or in exchange for or upon conversion of
such shares or otherwise in connection with a combination of shares,
recapitalization, merger, consolidation or other corporate reorganization).

 

“Company” shall mean GHP
Acquisition Corp., a Delaware corporation and any successors thereto.

 

“Equity Incentive Plan”
means the Company’s 2003 Stock Option and Grant Plan, as amended from time to
time.

 

“Exchange Act” means the
Securities Exchange Act of 1934, as amended.

 

“Majority Interest” means
the Stockholders holding not less than a majority of the outstanding shares of
Common Stock held by all of the Stockholders, calculated in accordance with
Section 1.3 hereof.

 

“Person” means an individual,
a corporation, an association, a joint venture, a partnership, a limited
liability company, an estate, a trust, an unincorporated organization and .any
other entity or organization, governmental or otherwise.

 

“Preferred Stock” means the
Series A Preferred Stock, together with any shares issued or issuable with
respect thereto (whether by way of a stock dividend or stock split or in
exchange for or in replacement of such shares or otherwise in connection with a
combination of shares, recapitalization, merger, consolidation or other
corporate reorganization).

 

2

 

“QPO” means the Company’s
first underwritten public offering on a firm commitment basis by a nationally
recognized investment banking organization or organizations pursuant to an
effective registration statement under the Securities Act, covering the offer
and sale of Common Stock (i) at a price per share of Common Stock of not less
than $[25.00] (appropriately adjusted for stock splits, stock dividends,
combinations, recapitalizations and the like), (ii) with respect to which the
Company receives aggregate net proceeds attributable to sales for the account
of the Company (after deduction of underwriting discounts and commissions) of
not less than $50,000,000 million, and (iii) with respect to which such Common
Stock is listed for trading on either the New York Stock Exchange or the
NASDAQ National Market.

 

“Securities Act” means the
Securities Act of 1933, as amended.

 

“Shares” means, at any time,
shares of (i) Common Stock, (ii) Preferred Stock, and (iii) any other
equity securities now or hereafter issued by the Company, together with any
options thereon and any other shares of stock issued or issuable with respect
thereto (whether by way of a stock dividend, stock split or in exchange
for or upon conversion of such shares or otherwise in connection with a
combination of shares, recapitalization, merger, consolidation or other
corporate reorganization).  At all times, the number of Shares deemed
issued and outstanding or held or to be voted by any Stockholder shall be
calculated in accordance with Section 1.3.

 

“Transfer” means any direct
or indirect transfer, donation, sale, assignment, pledge, hypothecation, grant
of a security interest in or other disposal or attempted disposal of all or any
portion of a security, any interest or rights in a security, or any rights
under this Agreement.  “Transferred” means the accomplishment of a
Transfer, and “Transferee” means the recipient of a Transfer.

 

SECTION
2.         REPRESENTATIONS AND WARRANTIES

 

Section 2.1  Representations and
Warranties of the Investors. 
Each of the Investors, individually and not jointly, hereby represents,
warrants and covenants to the Company and the Management Stockholders as
follows: (a) such Investor has full authority, power and capacity to enter into
this Agreement and perform its obligations hereunder; (b) this Agreement
constitutes the valid and binding obligation of such Investor enforceable
against it in accordance with its terms, except: (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally,
(ii) as limited by laws relating to the availability of specific
performance, injunctive relief, or other equitable remedies, and (iii) to the
extent the indemnification provisions may be limited by applicable federal or
state securities laws; and (c) the execution, delivery and performance by such
Investor of this Agreement: (i) does not and will not violate any laws, rules
or regulations of the United States or any state or other jurisdiction
applicable to such Investor, or require such Investor to obtain any approval,
consent or waiver of, or to make any filing with, any Person that has not been
obtained or made; and (ii) does not and will not result in a breach of,
constitute a default under, accelerate any obligation under or give rise to a
right of termination of any indenture or loan or credit agreement or any other
material agreement, contract, instrument, mortgage, lien, lease, permit,
authorization, order, writ, judgment, injunction, decree, determination or
arbitration award to which such Investor is a party or by which the property of

 

3

 

such Investor is bound or
affected, or result in the creation or imposition of any mortgage, pledge,
lien, security interest or other charge or encumbrance on any of the assets or
properties of such Investor.

 

Section 2.2  Representations and
Warranties of the Management Stockholders.  Each of the Management Stockholders, individually and not
jointly, hereby represents, warrants and covenants to the Company and the
Investors as follows: (a) such Management Stockholder has full authority, power
and capacity to enter into this Agreement and perform its obligations
hereunder; (b) this Agreement constitutes the valid and binding obligation of
such Management Stockholder enforceable against him in accordance with its terms,
except: (i) as limited by applicable bankruptcy, insolvency, reorganization,
moratorium and other laws of general application affecting enforcement of
creditors’ rights generally, (ii) as limited by laws relating to the
availability of specific performance, injunctive relief, or other equitable
remedies, and (iii) to the extent the indemnification provisions may be
limited by applicable federal or state securities laws; and (c) the execution,
delivery and performance by such Management Stockholder of this Agreement: (i)
does not and will not violate any laws, rules or regulations of the United
States or any state or other jurisdiction applicable to such Management
Stockholder, or require such Management Stockholder to obtain any approval,
consent or waiver of, or to make any filing with, any Person that has not been
obtained or made; and (ii) does not and will not result in a breach of,
constitute a default under, accelerate any obligation under or give rise to a
right of termination of any indenture or loan or credit agreement or any other
material agreement, contract, instrument, mortgage, lien, lease, permit,
authorization, order, writ, judgment, injunction, decree, determination or
arbitration award to which such Management Stockholder is a party or by which
the property of such Management Stockholder is bound or affected, or result in
the creation or imposition of any mortgage, pledge, lien, security interest or
other charge or encumbrance on any of the assets or properties of such
Management Stockholder.

 

Section 2.3  Representations and Warranties
of the Company.  The Company hereby represents,
warrants and covenants to the Management Stockholders and the Investors as
follows: (a) the Company has full corporate authority and power to enter into
this Agreement and perform its obligations hereunder; (b) this Agreement
constitutes the valid and binding obligation of the Company enforceable against
it in accordance with its terms, except:  (i) as limited by applicable
bankruptcy, insolvency, reorganization, moratorium and other laws of general
application affecting enforcement of creditors’ rights generally, (ii) as
limited by laws relating to the availability of specific performance,
injunctive relief, or other equitable remedies, and (iii) to the extent the
indemnification provisions may be limited by applicable federal or state
securities laws; and (c) the execution, delivery and performance by the Company
of this Agreement: (i) does not and will not violate any laws, rules or
regulations of the United States or any state or other jurisdiction applicable
to the Company, or require the Company to obtain any approval, consent or
waiver of, or to make any filing with, any Person that has not been obtained or
made; and (ii) does not and will not result in a breach of, constitute a
default under, accelerate any obligation under or give rise to a right of
termination of any indenture or loan or credit agreement or any other material
agreement, contract, instrument, mortgage, lien, lease, permit, authorization,
order, writ, judgment, injunction, decree, determination or, arbitration award
to which the Company is a party or by which the property of the Company is
bound or affected, or result in the creation or imposition of any mortgage,
pledge, lien, security interest or other charge or encumbrance on any of the
assets or properties of the Company.

 

4

 

SECTION 3.        
RESTRICTIONS
ON TRANSFER; RIGHT OF REFUSAL; CO-SALE PROVISIONS

 

Section 3.1  Restrictions
on Transfer.  Each Management Stockholder agrees
that such Management Stockholder will not, without the prior written consent of
a Majority Interest, Transfer all or any portion of the Shares now owned or
hereafter acquired by such Management Stockholder, except in connection with,
and strictly in compliance with the conditions of this Section III.

 

Section 3.2  Permitted
Transfers.  Notwithstanding anything herein to
the contrary, the provisions of Sections 3.3 and 3.4 shall not apply to
either of the Transfers listed below, provided that in each case the Transferee
shall have entered into a Joinder Agreement in substantially the form attached
hereto as Exhibit A providing that all Shares so Transferred shall
continue to be subject to all provisions of this Agreement as if such Shares
were still held by such Management Stockholder, except that no further Transfer
shall thereafter be permitted hereunder except in compliance with Sections 3.3
and 3.4:

 

(a)          
Transfers by any Management Stockholder to the spouse, children or siblings of
such Management Stockholder or to a trust or family limited partnership for the
benefit of any of them; and

 

(b)          
Transfers upon the death of any Management Stockholder to such Management
Stockholder’s heirs, executors or administrators or to a trust under such
Management Stockholder’s will, or Transfers between such Management Stockholder
and such Management Stockholder’s guardian or conservator.

 

Notwithstanding anything to
the contrary in this Agreement or any failure by a Transferee under this
Section 3.2 to execute a Joinder Agreement, such Transferee shall take
any Shares so Transferred subject to all provisions of this Agreement as
if such Shares were still held by the Management Stockholder making such
Transfer, whether or not they so agree in writing.

 

Section 3.3  Right of
Refusal.  In the event that any of the
Management Stockholders entertains a bona fide offer to purchase all or any
portion of the Shares held by such Management Stockholder (a “Transaction
Offer”) from any other Person (a “Buyer”), such Management Stockholder (a
“Transferor”) may, subject to the provisions of Section 3.4 hereof, Transfer
such Shares pursuant to and in accordance with the following provisions of this
Section 3.3:

 

(a)          
Offer Notice.  The Transferor shall cause the Transaction Offer and
all of the terms thereof to be reduced to writing and shall promptly notify the
Company and each of the Investors of such Transferor’s desire to effect the
Transaction Offer and otherwise comply with the provisions of this Section 3.3
and, if applicable, Section 3.4 (such notice, the “Offer Notice”).  The
Transferor’s Offer Notice shall constitute an irrevocable offer to sell all but
not less than all of the Shares which are the subject of the Transaction Offer
(the “Offered Shares”) first to the Company and then, in the event that the
Company fails to purchase all of the Offered Shares, to the Investors, on the
basis described below, at a purchase price equal to the price contained in,

 

5

 

and on the same terms and
conditions of, the Transaction Offer.  The Offer Notice shall be
accompanied by a true copy of the Transaction Offer (which shall identify the
Buyer and all relevant information in connection therewith).

 

(b)          
Company Option.  The Company shall have the first option to
purchase all but not less than all of the Offered Shares.  At any
time within ten (10) days after receipt by the Company of the Offer Notice (the
“Company Option Period”), the Company may elect to accept the offer to purchase
with respect to any or all of the Offered Shares and shall give written notice
of such election (the “Company Acceptance Notice”) to the Transferor within the
Company Option Period.  The Company Acceptance Notice shall constitute a
valid, legally binding and enforceable agreement for the sale and purchase of
the Shares covered by the Company Acceptance Notice.  If the Company
accepts the offer to purchase all of the Offered Shares, the closing for such
purchase of the Offered Shares by the Company under this Section 3.3(b) shall
take place within thirty (30) days following the expiration of the Company
Option Period, at the offices of the Company or on such other date or at such
other place as may be agreed to by the Transferor and the Company.  If the
Company fails to purchase all of the Offered Shares by exercising its option
under this Section 3.3(b) within the period provided, the Transferor shall so
notify the Investors promptly (the “Additional Offer Notice”) and the Remaining
Shares shall be subject to the options granted to the Investors pursuant to
Section 3.3(c) below.

 

(c)          
Investors’ Option.  If the Company fails to purchase the Offered
Shares under Section 3.3(b) above, at any time within fifteen (15) days after
receipt by the Investors of the Additional Offer Notice (the “Investor Option
Period”), each Investor may elect to accept the offer to purchase with respect
to any or all of the Remaining Shares and shall give written notice of such
election (the “Investor Acceptance Notice”) to the Transferor and each Investor
within the Investor Option Period, which notice shall indicate the maximum
number of Shares that the Investor is willing to purchase, including the number
of Shares it would purchase if one or more other Investors do not elect to
purchase their Pro Rata Fractions (as defined in paragraph (d) below). 
If, and only if, the Investor Acceptance Notices delivered pursuant to this
Section 3.3(c) taken together indicate a desire to purchase all but not less
than all of the Offered Shares, the Investor Acceptance Notice shall constitute
a valid, legally binding and enforceable agreement for the sale and purchase of
the Shares covered by the Investor Acceptance Notice.  The closing for any
purchase of Shares by the Investors under this Section 3.3(c) shall take place
within thirty (30) days following the expiration of Investor Option Period, at
the offices of the Company or on such other date or at such other place as may
be agreed to by the Transferor and such Investors.  The Transferor shall
notify the Investors promptly if any Investor fails to offer to purchase all of
its Pro Rata Fraction.

 

(d)          
Allocation of Shares among Investors.  Upon the expiration of the
Investor Option Period, the number of Shares to be purchased by each Investor
shall be determined as follows: (i) first, there shall be allocated to
each Investor electing to purchase, a number of Shares equal to the lesser of
(A) the number of Shares as to which such Investor accepted as set forth in its
respective Investor Acceptance Notice or (B) such Investor’s Pro Rata Fraction
(as defined below), and (ii) second, the balance, if any, not allocated
under clause (i) above, shall be allocated to those Investors who within
the Investor Option Period delivered an Investor Acceptance Notice that set
forth a number of Shares that exceeded their respective Pro Rata

 

6

 

Fractions, in each case on a
pro rata basis in proportion to the number of Shares held by each such Investor
up to the amount of such excess.  An Investor’s “Pro Rata Fraction” shall
be equal to the product obtained by multiplying the total number of Offered
Shares by a fraction, the numerator of which is the total number of Shares
owned by such Investor, and the denominator of which is the total number of
Shares held by all Investors, in each case as of the date of the Offer Notice.

 

(e)          
Valuation of Property.  In the event that the price set forth in
the Offer Notice is stated in consideration other than cash or cash
equivalents, the Transferor, the Company and a Majority Interest shall mutually
determine the fair market value of such consideration, reasonably and in good faith,
and the Company and/or the Investors, as the case may be, may effect their
purchase under this Section 3.3 by payment of such fair market value
in cash or cash equivalents.

 

(f)           
Sale to Third Party.  In the event that the Company and the Investors
do not elect to exercise the rights to purchase under this Section 3.3 with
respect to all of the Shares proposed to be sold, the Transferor may sell all
such Shares to the Buyer on the terms and conditions set forth in the Offer
Notice, subject to the provisions of Section 3.4.  Promptly after such
Transfer, the Transferor shall notify the Company, which in turn shall promptly
notify all the Investors, of the consummation thereof and shall furnish such
evidence of the completion and time of completion of the Transfer.  Prior
to the effectiveness of any Transfer to a Buyer hereunder, such Buyer shall
have entered into a Joinder Agreement in substantially the form attached hereto
as Exhibit A, and such Buyer shall have all the rights and obligations hereunder
as if such Buyer were a Management Stockholder.  If the Transferor’s sale
to a Buyer is not consummated in accordance with the terms of the Transaction
Offer on or before sixty (60) calendar days after the latest of: (i) the
expiration of the Company Option Period, (ii) the expiration of the Investor
Option Period, (iii) the expiration of the Co-Sale Election Period set forth in
Section 3.4 below, if applicable, and (iv) the satisfaction of all governmental
approval or filing requirements, the Transaction Offer shall be deemed to
lapse, and any Transfers of Shares pursuant to such Transaction Offer shall be
in violation of the provisions of this Agreement unless the Transferor sends a
new Offer Notice and once again complies with the provisions of this Section
3.3 with respect to such Transaction Offer.

 

Section 3.4  Co-Sale
Option of Stockholders.  In the event that the Company and the
Investors do not exercise their rights under Section 3.3 with respect to all of
the Shares proposed to be so Transferred in connection with any Transaction
Offer, the Transferor may Transfer such Shares only pursuant to and in
accordance with the following provisions of this Section 3.4:

 

(a)          
Co-Sale Notice.  As soon as practicable following the expiration of
the Investor Option Period, and in no event later than five (5) days
thereafter, the Transferor shall provide notice to each of the Stockholders
(the “Co-Sale Notice”) of its right to participate in the Transaction Offer on
a pro rata basis with the Transferor (the “Co-Sale Option”).  To the
extent one or more Stockholders exercise their Co-Sale Option in accordance
with this Section 3.4, the number of Shares that the Transferor may Transfer in
the Transaction Offer shall be correspondingly reduced.

 

7

 

(b)          
Stockholder Acceptance.  Each of the Stockholders shall have the
right to exercise its Co-Sale Option by giving written notice of such
intent to participate (the “Co-Sale Acceptance Notice”) to the Transferor
within ten (10) days after receipt by such Stockholder of the Co-Sale Notice
(the “Co-Sale Election Period”).  Each Co-Sale Acceptance Notice shall
indicate the maximum number of Shares subject thereto which the Stockholder
wishes to sell, including the number of Shares it would sell if one or more
other Stockholders do ‘not elect to participate in the sale on the terms and
conditions stated in the Offer Notice.

 

(c)          
Allocation of Shares.  Each Stockholder shall have the right to
sell a portion of its Shares pursuant to the Transaction Offer which is equal
to or less than the product obtained by multiplying the total number of Shares
available for sale to the Buyer subject to the Transaction Offer by a fraction,
the numerator of which is the
total number of Shares owned by such Stockholder and the denominator of which is the total number
of Shares held by all Stockholders and the Transferor, in each case as of the
date of the Offer Notice, subject to increase as hereinafter provided.  In
the event any Stockholder does not elect to sell the full amount of such Shares
which such Stockholder is entitled to sell pursuant to this Section 3.4, then
any Stockholders who have elected to sell Shares shall have the right to sell,
on a pro-rata basis (based on the number of Shares held by each such
Stockholder) with any other Stockholders and up to the maximum number of Shares
stated in each such Stockholder’s Co-Sale Acceptance Notice, any Shares not
elected to be sold by such Stockholder.

 

(d)          
Co-Sale Closing.  Within ten (10) calendar days after the end of
the Co-Sale Election Period, the Transferor shall promptly notify each
participating Stockholder of the number of Shares held by such Stockholder that
will be included in the sale and the date on which the Transaction Offer will
be consummated, which shall be no later than the later of (i) thirty (30)
calendar days after the end of the Co-Sale Election Period and (ii) the
satisfaction of any governmental approval or filing requirements, if any. 
Each participating Stockholder may effect its participation in any
Transaction Offer hereunder by delivery to the Buyer, or to the Transferor for
delivery to the Buyer, of one or more instruments or certificates, properly
endorsed for transfer, representing the Shares it elects to sell pursuant
thereto.  At the time of consummation of the Transaction Offer, the Buyer
shall remit directly to each participating Stockholder that portion of the sale
proceeds to which the participating Stockholder is entitled by reason of its
participation with respect thereto.  No Shares may be purchased by the
Buyer from the Transferor unless the Buyer simultaneously purchases from the
participating Stockholders all of the Shares that they have elected to sell pursuant
to this Section 3.4.

 

(e)          
Liability of Stockholders.  Each participating Stockholder shall be
liable to the Buyer only to the same extent as the Transferor with respect
to representations and warranties regarding the Company or its business, on a
several basis for each such Stockholder’s pro rata portion, provided that each
such Stockholder’s liability with respect to such representations and
warranties shall not exceed the value of the proceeds received by such
Stockholder upon the consummation of the Transaction Offer and, provided
further, that no Stockholder shall be required to make any other
representations or warranties or to provide any indemnities in connection
therewith other than with respect to title to the shares being conveyed.

 

(f)           
Sale to Third Party.  Any Shares held by a Transferor that are the
subject of the Transaction Offer and that the Transferor desires to Transfer
following compliance with

 

8

 

this Section 3.4, may be
sold to the Buyer only during the period specified in Section 3.4(d) and only
on terms no more favorable to the Transferor than those contained in the Offer
Notice.  Promptly after such Transfer, the Transferor shall notify the
Company, which in turn shall promptly notify all the Stockholders, of the
consummation thereof and shall furnish such evidence of the completion and time
of completion of the Transfer and of the terms thereof as may reasonably be
requested by a Majority Interest.  Prior to the effectiveness of any
Transfer to a Buyer hereunder, such Buyer shall have entered into a Joinder
Agreement in substantially the form attached hereto as Exhibit A, and
such Buyer shall have all the rights and obligations hereunder as if such Buyer
were a Management Stockholder.  In the event that the Transaction Offer is
not consummated within the period required by this Section 3.4 or the Buyer
fails timely to remit to each participating Stockholder its respective portion
of the sale proceeds, the Transaction Offer shall be deemed to lapse, and any
Transfer of Shares pursuant to such Transaction Offer shall be in violation of
the provisions of this Agreement unless the Transferor sends a new Offer Notice
and once again complies with the provisions of Sections 3.3 and 3.4 with
respect to such Transaction Offer.

 

Section 3.5  Contemporaneous
Transfers.  If two or more Management
Stockholders propose concurrent Transfers that are subject to this Section III,
then the relevant provisions of Sections 3.3 and 3.4, as applicable, shall
apply separately to each such proposed Transfer.

 

Section 3.6  Assignment.  Subject to Section 8.11 hereof, each Stockholder shall have
the right to assign its rights hereunder to any Transferee of such
Stockholder’s Shares, and shall further have the right to assign and transfer
such Stockholder’s right to accept any particular Transaction Offer, and any
such Transferee shall be deemed within the definition of a “Stockholder” and,
where applicable, an “Investor” for purposes of this Section III.

 

Section 3.7  Effect of Prohibited Transfers.  If any Transfer is made or attempted
contrary to the provisions of this Agreement, such purported Transfer shall be
void ab initio; the Company
and the other parties hereto shall have, in addition to any other legal or
equitable remedies which they may have, the right to enforce the provisions of
this Agreement by actions for specific performance (to the extent permitted by
law); and the Company shall have the right to refuse to recognize any
Transferee as one of its Stockholders for any purpose.

 

SECTION
4.         RIGHTS AND OBLIGATIONS TO SELL.

 

Section 4.1  Drag-Along-Right.  In the event of a Sale Event (as defined below), the Management
Stockholders shall be obligated to and shall upon the written request of a
Majority Interest: (i) sell, transfer and deliver, or cause to be sold,
transferred and delivered, to the Buyer a pro rata portion of, his, her or
its Shares on substantially the same terms applicable to the Investors; and
(ii) execute and deliver such instruments of conveyance and transfer and take
such other action, including voting such Shares in favor of any Sale Event
proposed by a Majority Interest and executing any purchase agreements, merger
agreements, indemnity agreements, escrow agreements or related documents, as
such Investors or Buyer may reasonably require in order to carry out the terms
and provisions of this Section 4.1 (the “Drag-Along Right”).

 

For purposes of this Section
IV, a “Sale Event” shall mean a bona fide negotiated transaction in which the
Majority Interest has determined (i) to sell or otherwise dispose of all

 

9

 

or substantially all of
the assets of the Company, or (ii) to sell sufficient capital stock of the
Company to constitute a change in control of the Company or (iii) to cause the
Company to merge with or into or consolidate with any non-Affiliate(s) of the
Company or any of the Investors.

 

Section 4.2  Tag-Along
Right.  In the event of a Sale Event, the
Management Stockholders shall, in the event that the Investors do not exercise
the Drag-Along Right set forth in Section 4.1 above, have the right to
require the Investors to include the Management Stockholders’ Shares in the
Sale Event on the same terms and conditions, as the Investors’ Shares (the
“Tag-Along Right”); provided that the Management Stockholders undertake all
obligations undertaken by the Investors in connection with such Sale Event,
including without limitation, all indemnification and escrow obligations.

 

Section 4.3  Procedure.  Not less than thirty (30) days prior to the date proposed for
the closing of any Sale Event, the Investors shall give notice to the
Management Stockholders, setting forth in reasonable detail the name or names
of the Buyer, the terms and conditions of the Sale Event, including the
purchase price, and the proposed closing date.  The Tag-Along Right set
forth in Section 4.2 above, shall be exercisable by the Investors by providing
notice to the Management Stockholders at least fifteen (15) days prior to the
date proposed for the closing of the Sale Event.

 

SECTION
5.         RIGHTS TO PURCHASE

 

Section 5.1  Right to Participate in Certain
Sales of Additional Securities.  The Company agrees that it will not sell or issue: (a) any
shares of capital stock of the Company, (b) securities convertible into or
exercisable or exchangeable for capital stock of the Company or
(c) options, warrants or rights carrying any rights to purchase capital
stock of the Company (other than sales or issuances pursuant to the Equity
Incentive Plan) (each an “Issuance”), unless the Company first submits a
written notice to each Stockholder identifying the terms of the proposed sale
(including price, number or aggregate principal amount of securities and all
other material terms), and offers to each Stockholder the opportunity to
purchase its Pro Rata Allotment (as hereinafter defined) of the securities
(subject to increase for over-allotment if some Stockholders do not fully exercise
their rights) on terms and conditions, including price, not less favorable
than those on which the Company proposes to sell such securities to a third
party or parties (the “Right to Participate”).  The-Company’s offer
pursuant to this Section 5.1 shall remain open and irrevocable for a period of
thirty (30) days following receipt by the Stockholders of such written notice.

 

Section 5.2  Stockholder
Acceptance.  Each Stockholder may elect to
purchase the securities so offered by giving written notice thereof to the
Company within such 30-day period, including in such written notice the maximum
number of shares of capital stock or other securities of the Company that the
Stockholder wishes to purchase, including the number of such shares it
would purchase if one or more other Stockholders do not elect to purchase their
respective Pro Rata Allotments.

 

Section 5.3  Calculation
of Pro Rata Allot.  Each Stockholder’s “Pro Rata
Allotment” of such securities shall be based on the ratio which the number
of Shares owned by such

 

10

 

Stockholder bears to all of
the issued and outstanding Shares as of the date of such written offer. 
If one or more Stockholders do not elect to purchase their respective Pro Rata
Allotment, each of the electing Stockholders may purchase such shares on a pro
rata basis, based upon the relative holdings of Shares of each of the electing
Stockholders in the case of over-subscription.

 

Section 5.4  Sale to
Third Party.  Any securities so offered that are
not purchased by the Stockholders pursuant to the offer set forth in Section
5.1 above, may be sold by the Company, but only on terms and conditions not
more favorable than those set forth in the notice to Stockholders, at any time
within sixty (60) calendar days following the termination of the
above-referenced 30-day period, but may not be sold to any other Person or on
terms and conditions, including price, that are more favorable to the purchaser
than those set forth in such offer or after such 60-day period without renewed
compliance with this Section V.

 

Section 5.5  Exceptions to Pre-emptive Rights.  Notwithstanding the foregoing, the
right to purchase granted under this Section V shall be inapplicable with
respect to:  (i) the issuance of up to an aggregate of 126,200 shares of
Common Stock (as appropriately adjusted for any stock split, combination,
reorganization, recapitalization, reclassification, stock distribution, stock
dividend or similar event) issued or issuable in connection with, or upon the
exercise of, options or other awards granted or to be granted to employees,
officers or directors of the Company pursuant to the Company’s Equity Incentive
Plan, including shares of Common Stock issued in replacement of shares of such
Common Stock repurchased or issuable upon the exercise of any options to
purchase shares of such Common Stock, to the extent permitted under the Equity
Incentive Plan; (ii) securities issued as a result of any stock split, stock
dividend, reclassification or reorganization or similar event with respect to
the Shares; or (iii) securities issued in connection with any acquisition or
merger that is approved by a Majority Interest.

 

Section 5.6  Assignment
of Rights.  Subject to Section 8.11 hereof, each
Stockholder shall have the right to assign its rights under this Section V to
any Transferee of such Stockholder’s Shares, and shall further have the right
to assign and transfer such Stockholder’s right to accept any particular offer
under Section 5.1 hereof, and any such Transferee shall be deemed within the
definition of a “Stockholder” for purposes of this Section V.

 

SECTION
6.         ELECTION OF DIRECTORS

 

Section 6.1  Board
Composition.  Each Stockholder agrees to vote all
of his, her or its Shares having voting power (and any other Shares over which
he, she or it exercises voting control), to elect and continue in office as
Directors the following:

 

(a)          
Mark Jung (“Mr. Jung”);

 

(b)          
Christopher Anderson (“Mr. Anderson”);

 

(c)          
Christopher Gaffney;

 

(d)          
Michael Kumin; and

 

(e)          
One person to be nominated by Great Hill Partners, LLC

 

11

 

Section 6.2  Termination.

 

(a)          
The obligations of the Stockholders set forth in Section 6.1 (a) shall
terminate upon:  (i) any breach by Mr. Jung of the Employment Agreement,
dated as of the date hereof by and between the Company and Mr. Jung (the
“Employment Agreement”); (ii) termination by either party of the Employment
Agreement; (iii) the termination, withdrawal, resignation or removal of Mr.
Jung from the position of chief executive officer of the Company; (iv) any
material breach by Mr. Jung of any agreement to which each of the Company and
Mr. Jung is a party; or (v) Mr. Jung is the holder of less than five
percent (5%) of the Common Stock on a fully-diluted basis.

 

(b)           
The obligations of the Stockholders set forth in Section 6.1(b) shall terminate
upon: (i) any breach by Mr. Anderson of any agreement to which each
of the Company and Mr. Anderson is a party; or (ii) Mr. Anderson is the
holder of less than five percent (5%) of the Common Stock on a
fully-diluted basis.

 

Section
6.3  Assignment.  Each Stockholder agrees, as a
condition to any Transfer of his, her or its Shares, to cause the Transferee to
agree to the provisions of this Section VI, whereupon such Transferee shall be
subject to the provisions hereof to the same extent as the Stockholders in
connection with its ownership of the Shares Transferred.

 

SECTION
7.         COVENANTS OF THE COMPANY

 

The Company covenants and
agrees with each of the Stockholders that:

 

Section 7.1  Financial Statements, Reports, Etc.  The Company shall furnish to each
Investor the following reports:

 

(a)          
Annual Financial Statements.  Within ninety (90) days after the end
of each fiscal year of the Company, a consolidated balance sheet of the
Company and its subsidiaries, if any, as of the end of such fiscal year
and the related consolidated statements of income, stockholders’ equity and
cash flows for the fiscal year then ended, prepared in accordance with
generally accepted accounting principles and certified by a firm of independent
public accountants of recognized national standing selected by the Board of
Directors of the Company;

 

(b)          
Quarterly Financial Statements.  Within thirty (30) days after the
end of each quarter in each fiscal year (other than the last month in each
fiscal year), a consolidated balance sheet of the Company and its subsidiaries,
if any, and the related consolidated statements of income, stockholders’ equity
and cash flows, unaudited but prepared in accordance with generally accepted
accounting principles and certified by the Chief Financial Officer of the Company,
such consolidated balance sheet to be as of the end of such quarter and such
consolidated statements of income, stockholders’ equity and cash flows to be
for such quarter and for the period from the beginning of the fiscal year to
the end of such quarter, in each case with comparative statements for the
prior fiscal year;

 

(c)          
Budget.  No later than thirty (30) days prior to the start of each
fiscal year, consolidated capital and operating expense budgets, cash flow
projections and income and loss

 

12

 

projections for the Company
and its subsidiaries in respect of such fiscal year, all itemized in reasonable
detail and prepared on a monthly basis, and, promptly after preparation, any
revisions to any of the foregoing;

 

(d)          
Accountant’s Letters.  Promptly following receipt by the Company,
each audit response letter, accountant’s management letter and other written
report submitted to the Company by its independent public accountants in connection
with an annual or interim audit of the books of the Company or any of its
subsidiaries;

 

(e)          
Notices.  Promptly after the commencement thereof, notice of all
actions, suits, claims, proceedings, investigations and inquiries that could
materially and adversely affect the Company or any of its subsidiaries, if any;
and

 

(f)           
Other Information.  Promptly, from time to time, such other
information regarding the business, prospects, financial condition, operations,
property or affairs of the Company and its subsidiaries as such Investor
reasonably may request.

 

Section 7.2  Corporate
Existence.  The Company shall maintain and cause
each of its subsidiaries, if any, to maintain, their respective corporate
existence.

 

Section 7.3  Properties, Business Insurance.  The Company shall obtain and maintain
and cause each of its subsidiaries, if any, to maintain as to their respective
properties and business, with financially sound and reputable insurers,
insurance against such casualties and contingencies and of such types and in
such amounts as is customary for companies similarly situated.

 

Section 7.4  Key
Person Insurance.  The Company shall obtain, as soon as
reasonably practicable following the closing, “key person” term life insurance
policies on the life of Mr. Jung in such amounts as may be approved by the
Board of Directors, which shall name the Company as beneficiary. The Company
will use its best efforts to maintain in effect such “key person” term life
insurance policies.

 

Section 7.5  Inspection, Consultation and
Advice.  The Company shall permit and cause
each of its subsidiaries, if any, to permit each Investor and such persons as
each Investor may designate, at such Investor’s expense, to visit and inspect
any of the properties of the Company and its subsidiaries, examine their books
and take copies and extracts therefrom, discuss the affairs, finances and
accounts of the Company and its subsidiaries with their officers, employees and
public accountants (and the Company hereby authorizes said accountants to
discuss with such Investor and such designees such affairs, finances and
accounts), and consult with and advise the management of the Company and its
subsidiaries as to their affairs, finances and accounts, all at reasonable
times and upon reasonable notice during normal business hours and provided that
such Investor or designee has executed a confidentiality agreement in substance
and form reasonably acceptable to the Company.

 

Section 7.6  Compensation
of Directors.  The Company shall promptly reimburse
in full each Director of the Company who is not an employee of the Company
for all of his or her reasonable out-of-pocket expenses incurred in attending
each meeting of the Board of Directors or any Committee thereof.  After
the initial public offering of the Company’s capital stock, the

 

13

 

Company shall pay or provide
to any director of the Company who is nominated by the Investors, fees, options
and other compensation in amounts at least equal to the fees, options or other
compensation paid to all other non-management directors of the Company.

 

Section 7.7  Board
of Directors Meetings.  The Company shall use its reasonable
best efforts to ensure that meetings of its Board of Directors are held at
least four times each year and at least once each quarter.

 

Section 7.8  By-laws.  The Company shall at all times cause its By-laws to provide
that unless otherwise required by the laws of the State of Delaware, any one
director shall have the right to call a meeting of the Board of
Directors.  The Company shall at all times maintain provisions in its
By-laws indemnifying all directors against liability and absolving all
directors from liability to the Company and its stockholders to the maximum
extent permitted under the laws of the State of Delaware.

 

Section 7.9  Restrictive Agreements
Prohibited.  Neither the Company nor any of its
subsidiaries shall become a party to any agreement which by its terms expressly
restricts the Company’s performance of this Agreement.

 

Section 7.10  Compliance
with Laws.  The Company shall comply, and cause
each subsidiary to comply, with all applicable laws, rules, regulations and
orders, noncompliance with which could materially adversely affect its
business or condition, financial or otherwise.

 

Section 7.11  Keeping of Records and Books of
Account.  The Company shall keep, and cause
each subsidiary, if any, to keep, adequate records and books of account, in
which complete entries will be made in accordance with generally accepted
accounting principles consistently applied, reflecting all financial
transactions of the Company and such subsidiary, and in which, for each fiscal
year, all proper reserves for depreciation, depletion, obsolescence,
amortization, taxes, bad debts and other purposes in connection with its
business shall be made.

 

Section 7.12  Qualified Small Business Stock.  The Company shall use commercially
reasonable efforts to cooperate with any request for information from any
Investor regarding whether such Investor’s interest in the Company constitutes
“qualified small business stock” as defined in Section 1202(c) of the
Code, and the Company shall use commercially reasonable efforts to assist such
Investor with completing any documents necessary for such determination. 
The Company’s obligation to furnish any requested information pursuant to this
Section shall continue notwithstanding the fact that a class of the Company’s
stock may be traded on an established securities market.

 

Section 7.13  Lock-Up
Agreements.  The Company will obtain agreements in
writing from each holder of stock or options of the Company, as a condition to
any issuance of stock or grant of options, agreeing not to directly or
indirectly offer, sell, contract to sell, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option, right or
warrant for the sale of or otherwise dispose of or transfer any shares of stock
without the consent of the Company’s underwriters, in connection with any
public offering of the Company’s capital stock, consistent with the provisions
of Section 12 of that certain Registration Rights Agreement by and among the
Company and the Investors.

 

14

 

Section 7.14  Affiliated
Transactions.  All transactions by and between the
Company and any officer, employee, director or stockholder of the Company or
persons controlling, controlled by, under common control with or otherwise
affiliated with such officer, employee, director or stockholder shall be
conducted on an arm’s-length basis, shall be on terms and conditions no less
favorable to the Company than could be obtained from non-related persons and
shall be approved in advance by a Majority Interest.

 

Section 7.15  Management
Compensation.  Compensation paid by the Company to
its management and other employees will be both reasonably comparable to
compensation paid to similarly situated employees in companies in the same. or
similar businesses of similar size and maturity and with comparable financial
performance and reasonable in relation to the Company’s overall compensation
structure.  Any grants of capital stock or options to employees, officers,
directors or consultants of the Company shall be made pursuant to the Equity
Incentive Plan, and conditioned upon the grantee agreeing to be bound by
the terms of an option and/or stock agreement containing first refusal rights
of the Company with respect to the transfer of such stock or options and such other
provisions as are approved or requested by a Majority Interest.

 

Section 7.16  Financings.  The Company will promptly provide to the Investors the details
and terms of, and any brochures or investment memoranda prepared by the Company
related to, any possible financing of any nature for the Company, whether
initiated by the Company or any other person or entity.

 

Section
7.17  Expenses.  The Company agrees to pay and hold
the Investors harmless against liability for payment of all reasonable out-of-pocket
costs and expenses incurred by them in connection with their ongoing investment
in the Company, including, without limitation, the fees and disbursements of
counsel and other professionals in connection with any modification, waiver,
consent or amendment requested in connection with any Transaction Document (as
defined in the Purchase Agreement). In addition, the Company agrees to pay any
and all stamp, transfer, and other similar taxes, if any, payable or determined
to be payable in connection with the execution and delivery of the Transaction
Documents.

 

Section
7.18  Indemnification.

 

(a)          
Without limitation of any other provision of this Agreement or any agreement
executed in connection herewith, the Company agrees to defend, indemnify and
hold each Investor, its respective affiliates and direct and indirect partners
(including partners of partners and stockholders and members of partners),
members, stockholders, directors, officers, employees and agents and each
person who controls any of them within the meaning of Section 15 of the
Securities Act, or Section 20 of the Exchange Act (collectively, the “Investor
Indemnified Parties” and, individually, an “Investor Indemnified Party”)
harmless from and against any and all damages, liabilities, losses, Taxes,
fines, penalties, reasonable costs and expenses (including, without limitation,
reasonable fees of a single counsel representing the Investor Indemnified
Parties), as the same are incurred, of any kind or nature whatsoever (whether
or not arising out of third-party claims and including all amounts paid in
investigation, defense or settlement of the foregoing) which may be sustained
or suffered by any such Investor Indemnified Party (“Losses”), based upon,
arising out of, or by reason of (i) any breach of any representation or
warranty made by the Company in this Agreement or any other Transaction 

 

15

 

Document, (ii) any breach of
any covenant or agreement made by the Company in this Agreement, in any other
Transaction Document or in any other agreement executed in connection herewith
or therewith, or (iii) any third party or governmental claims relating in any
way to such Investor Indemnified Party’s status as a security holder, creditor,
director, agent, representative or controlling person of the Company or
otherwise relating to such Investor Indemnified Party’s involvement with the
Company (including, without limitation, any and all Losses under the Securities
Act, the Exchange Act or other federal or state statutory law or regulation, at
common law or otherwise, which relate directly or indirectly to the
registration, purchase, sale or ownership of any securities of the Company or
to any fiduciary obligation owed with respect thereto), including, without
limitation, in connection with any third party or governmental action or claim
relating to any action taken or omitted to be taken or alleged to have been
taken or omitted to have been taken by any Investor Indemnified Party as
security holder, director, agent, representative or controlling person of the
Company or otherwise, alleging so-called control person liability or securities
law liability; provided, however, that-the Company will not be liable to
the extent that such Losses arise from and are based on (A) an untrue statement
or omission or alleged untrue statement or omission in a registration statement
or prospectus which is made in reliance on and in conformity with written
information furnished to the Company by or on behalf of such Investor
Indemnified Party, or (B) conduct by an Investor Indemnified Party which
constitutes fraud or willful misconduct.

 

(b)          
If the indemnification provided for in Section 7.18(a) above for any reason is
held by a court of competent jurisdiction to be unavailable to an Investor
Indemnified Party in respect of any Losses referred to therein, then the
Company, in lieu of indemnifying such Investor Indemnified Party thereunder,
shall contribute to the amount paid or payable by such Investor Indemnified
Party as a result of such Losses (i) ,in such proportion as is appropriate to
reflect the relative benefits received by the Company and the Investors, or
(ii) if the allocation provided by clause (i) above is not permitted by
applicable law, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) above but also the relative fault
of the Company and the Investors in connection with the action or inaction
which resulted in such Losses, as well as any other relevant equitable
considerations.  The relative fault of the Company and the Investors shall
be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission
to state a material fact relates to information supplied by the Company and the
Investors and the parties’ relative intent, knowledge, access to information
and opportunity to correct or prevent such statement or omission.

 

(c)          
Each of the Company and the Investors agrees that it would not be just
and equitable if contribution pursuant to Section 7.18(b) were determined
by pro rata or per capita allocation or by any other method of allocation which
does not take account of the equitable considerations referred to in the
immediately preceding paragraph.

 

Section
7.19  Term.

 

(a)          
This Agreement shall terminate upon the consummation of a QPO.

 

(b)          
The rights granted under Section IV and Section V of this Agreement
to each Management Stockholder shall terminate upon: (i) any material
breach by such

 

16

 

Management Stockholder of
any agreement to which each of such Management Stockholder and the Company
is a party; or (ii) such Management Stockholder is the holder of less than five
percent (5%) of the Common Stock on a fully-diluted basis.

 

SECTION
8.         MISCELLANEOUS PROVISIONS

 

Section 8.1  Survival
of Covenants.  Each of the parties hereto agrees
that each covenant and agreement made by it in this Agreement or in any
certificate, instrument or other document delivered pursuant to this Agreement
is material, shall be deemed to have been relied upon by the other parties and
shall remain operative and in full force and effect after the date hereof
regardless of any investigation.  This Agreement shall not be construed so
as to confer any right or benefit upon any Person other than the parties hereto
and their respective successors and permitted assigns to the extent contemplated
herein.

 

Section 8.2  Legend
on Securities.  The Company and the Stockholders
acknowledge and agree that in addition to any other legend on the certificates
representing Shares held by them, substantially the following legend shall be
typed on each certificate evidencing any of the, Shares held at any time by any
of the Stockholders:

 

THE SECURITIES REPRESENTED
HEREBY ARE SUBJECT TO THE PROVISIONS OF A CERTAIN STOCKHOLDERS AGREEMENT, DATED
AS OF
                    ,
2003, INCLUDING CERTAIN RESTRICTIONS ON TRANSFER SET FORTH THEREIN. 
A COMPLETE AND CORRECT COPY OF SUCH AGREEMENT IS AVAILABLE FOR INSPECTION
AT THE PRINCIPAL OFFICE OF THE COMPANY AND WILL BE FURNISHED UPON WRITTEN
REQUEST AND WITHOUT CHARGE.

 

Section 8.3  Amendment and Waiver: Actions
of the Board.  Any party may waive any provision
hereof intended for its benefit in writing.  No failure or delay on the
part of any party hereto in exercising any right, power or remedy hereunder
shall operate as a waiver thereof.  The remedies provided for herein are
cumulative and are not exclusive of any remedies that may be available to any
party hereto at law or in equity or otherwise.  This Agreement may be
amended with the prior written consent of the Company, a majority in interest
of the Management Stockholders (based upon the number of Shares held by each
Management Stockholder and a Majority Interest.  Any consent given as
provided in the preceding sentence shall be binding on all Stockholders; provided
that any amendment that would materially and adversely affect any
Management Stockholder or Investor disproportionately more than any other
Management Stockholders or Investor shall not be effective against such
Management Stockholders or Investor, as the case may be, without such
Management Stockholder’s or Investor’s written consent with respect thereto.

 

Section
8.4  Notices.  All notices and other communications
provided for herein shall be in writing and shall be deemed to have been duly
given, delivered and received (a) if delivered personally or (b) if sent by
facsimile, registered or certified mail (return receipt requested) postage
prepaid, or by courier guaranteeing next day delivery, in each case. to the
party to whom it is directed, which if to the Company, shall be at c/o Great
Hill Partners, L.P., 1 Liberty Square, Boston, MA 02109, Attn: Christopher S.
Gaffney, with a copy to Goodwin Procter LLP, Exchange Place, Boston, MA 02109,
Attn: David F. Dietz, P.C., and if to any Management 

 

17

 

Stockholder, at the
addresses set forth below such party’s signature hereto, (or at such other
address for any party as shall be specified by notice given in accordance with
the provisions hereof, provided that notices of a change of address shall be
effective only upon receipt thereof) with a copy to Cooley Godward LLP, 3175
Hanover Street, Palo Alto, CA 94304-1130, Attn: Craig E. Dauchy. 
Notices delivered personally shall be effective on the day so delivered,
notices sent by registered or certified mail shall be effective five days after
mailing, notices sent by facsimile shall be effective when receipt is
acknowledged, and notices sent by courier guaranteeing next day delivery shall
be effective on the earlier of the second business day after timely delivery to
the courier or the day of actual delivery by the courier.

 

Section
8.5  Headings.  The Section headings used or
contained in this Agreement are for convenience of reference only and shall not
affect the construction of this Agreement.  The parties have participated
jointly in the negotiation and drafting of this Agreement and the other
agreements, documents and instruments executed and delivered in connection
herewith with counsel sophisticated in investment transactions.  In the
event an ambiguity or question of intent or interpretation arises, this
Agreement and the agreements, documents and instruments executed and delivered
in connection herewith shall be construed as if drafted jointly by the parties
and no presumption or burden of proof shall arise favoring or disfavoring any
party by virtue of the authorship of any provisions of this Agreement and the
agreements, documents and instruments executed and delivered in connection
herewith.

 

Section
8.6  Counterparts.  This Agreement may be executed in one
or more counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which
together shall be deemed to constitute one and the same agreement.

 

Section 8.7  Remedies; Severability.  It is specifically understood and
agreed that any breach of the provisions of this Agreement by any Person
subject hereto will result in irreparable injury to the other parties hereto,
that the remedy at law alone will be an inadequate remedy for such breach, and
that, in addition to any other legal or equitable remedies which they may have,
such other parties may enforce their respective rights by actions for specific
performance (to the extent permitted by law) and the Company may refuse to recognize
any unauthorized Transferee as one of its Stockholders for any purpose,
including, without limitation, for purposes of dividend and voting rights,
until the relevant party or parties have complied with all applicable
provisions of this Agreement.

 

In the event that any one or
more of the provisions contained herein, or the application thereof in any
circumstances, is held invalid, illegal or unenforceable in any respect for any
reason, the validity, legality and enforceability of any such provision in
every other respect and of the remaining provisions contained herein shall not
be in anyway impaired thereby, it being intended that all of the rights and
privileges of the parties hereto shall be enforceable to the fullest extent
permitted by law.

 

Section
8.8  Entire Agreement.  This Agreement is intended by the
parties as a final expression of their agreement and intended to be complete
and exclusive statement of the agreement and understanding of the parties
hereto in respect of the subject matter contained herein.

 

18

 

Section
8.9  Adjustments.  All references to share prices and
amounts herein shall be equitably adjusted to reflect stock splits, stock
dividends, recapitalizations and similar changes affecting the capital stock of
the Company.

 

Section
8.10  Law Governing.  This Agreement shall be construed and
enforced in accordance with and governed by the laws of the State of Delaware
(without giving effect to principles of conflicts of law).

 

Section 8.11  Successors and Assigns.  This Agreement shall be binding upon
and inure to the benefit of the respective successors and permitted assigns of
the parties hereto as contemplated herein, and any successor to the Company by
way of merger or otherwise shall specifically agree to be bound by the terms
hereof as a condition of such successor.  The rights of the Investors
hereunder shall be assignable to Transferees of their Shares as contemplated
herein.  This Agreement may not be assigned by any Management Stockholder
except as provided herein without the prior written consent of the Company and
a Majority Interest, and without such prior written consent any attempted
Transfer shall be null and void.

 

Section 8.12  Dispute Resolution.  All disputes, claims, or
controversies arising out of or relating to this Agreement, or any other
agreement executed and delivered pursuant to this Agreement, or the
negotiation, validity or performance hereof and thereof or the transactions
contemplated hereby and thereby, that are not resolved by mutual agreement
shall be resolved solely and exclusively by binding arbitration to be conducted
before J.A.M.S./Endispute, Inc. or its successor.  The parties understand
and agree that this arbitration provision shall apply equally to claims of
fraud or fraud in the inducement.  The arbitration shall be held in
Delaware before a single arbitrator and shall be conducted in accordance with
the rules and regulations promulgated by J.A.M.S. Endispute, Inc. unless
specifically modified herein.

 

The parties covenant and
agree that the arbitration shall commence within one hundred twenty (120) days
of the date on which a written demand for arbitration is filed by any party
hereto.  In connection with the arbitration proceeding, the arbitrator
shall have the power to order the production of documents by each party and any
third-party witnesses. In addition, each party may take up to three depositions
as of right, and the arbitrator may in his or her discretion allow additional
depositions upon good cause shown by the moving party.  However, the
arbitrator shall not have the power to order the answering of interrogatories
or the response to requests for admission.  In connection with any
arbitration, each party shall provide to the other, no later than fourteen (14)
business days before the date of the arbitration, the identity of all persons
that may testify at the arbitration, a copy of all documents that may be
introduced at the arbitration or considered or used by a party’s witness or expert,
and a summary of the expert’s opinions and the basis for said opinions. 
The arbitrator’s decision and award shall be made and delivered within sixty
(60) days of the conclusion of the arbitration.  The arbitrator’s decision
shall set forth a reasoned basis for any award of damages or finding of
liability.  The arbitrator shall not have power to award damages in excess
of actual compensatory damages and shall not multiply actual damages or award
punitive damages or any other damages that are specifically excluded under this
Agreement, and each party hereby irrevocably waives any claim to such damages.

 

The parties covenant and
agree that they will participate in the arbitration in good faith and that they
will share equally its costs, except as otherwise provided herein.  The
arbitrator

 

19

 

may in his or her discretion
assess costs and expenses (including the reasonable legal fees and expenses of
the prevailing party) against any party to a proceeding.  Any party
unsuccessfully refusing to comply with an order of the arbitrators shall be
liable for costs and expenses, including attorneys’ fees, incurred by the other
party in enforcing the award.  This Section applies equally to requests for
temporary, preliminary or permanent injunctive relief, except that in the case
of temporary or preliminary injunctive relief any party may proceed in court
without prior arbitration for the limited purpose of avoiding immediate and
irreparable harm.  The provisions of this Section shall be enforceable in
any court of competent jurisdiction.

 

Subject to the second
sentence of the immediately preceding paragraph, the parties shall bear their
own attorneys’ fees, costs and expenses in connection with the
arbitration.  The parties will share equally in the fees and expenses
charged by J.A.M.S./Endispute, Inc.

 

(a)          
Each of the parties hereto irrevocably and unconditionally consents to the
exclusive jurisdiction of J.A.M.S./Endispute, Inc. to resolve all disputes,
claims or controversies arising out of or relating to this Agreement or any
other agreement executed and delivered pursuant to this Agreement or the
negotiation, validity or performance hereof and thereof or the transactions
contemplated hereby and thereby and further consents to the jurisdiction of the
courts of Delaware for the purposes of enforcing the arbitration provisions of
Section 7.8(a) of this Agreement.  Each party further irrevocably waives
any objection to proceeding before J.A.M.S./Endispute, Inc. based upon lack of
personal jurisdiction or to the laying of venue and further irrevocably and
unconditionally waives and agrees not to make a claim in any court that
arbitration before J.A.M.S./Endispute, Inc. has been brought in an inconvenient
forum.  Each of the parties hereto hereby consents to service of process
by registered mail at the address to which notices are to be given.  Each
of the parties hereto agrees that its or his submission to jurisdiction and its
or his consent to service of process by mail is made for the express benefit of
the other parties hereto.

 

[SIGNATURE PAGE FOLLOWS] 

 

20

 

IN WITNESS WHEREOF, the
parties hereto have caused this Stockholders Agreement to be duly executed as
of the date first set forth above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  GHP ACQUISITION CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  INVESTORS:

  
	
   

  	
   

  
	
   

  	
  GREAT HILL EQUITY PARTNERS II

  LIMITED PARTNERSHIP,

  
	
   

  	
   

  
	
   

  	
  By:  Great Hill Partners GP II, LLC,

  
	
   

  	
      its General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  GREAT HILL EQUITY PARTNERS II

  LIMITED PARTNERSHIP,

  
	
   

  	
   

  
	
   

  	
  By:  Great Hill Partners GP II, LLC,

  
	
   

  	
      its General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

21

 

	
   

  	
  MANAGEMENT STOCKHOLDERS:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Christopher Anderson

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Mark Jung

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Kenneth Keller

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

 

EXHIBIT A

 

Form of Joinder Agreement

 

The undersigned hereby
agrees, effective as of the date hereof, to become. a party to that certain
Stockholders Agreement (the “Agreement”) dated as of
                              ,
2003, by and among GHP Acquisition Corp. (the “Company”) and the parties named
therein and for all purposes of the Agreement, the undersigned shall be
included within the term [“Management Stockholder”/ “Investor”] (as
defined in the Agreement).  The undersigned further confirms that the representations
and warranties contained in Section II of the Agreement are true and correct as
to the undersigned as of the date hereof.  The address and facsimile
number to which notices may be sent to the undersigned is as follows:

 

	
  Facsimile
  No.

  	
   

  	
   

  
	
   

  
	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [NAME OF UNDERSIGNED]

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 

EXHIBIT C

 

Form of Registration Rights Agreement

 

 

Exhibit C

REGISTRATION RIGHTS AGREEMENT

 

By and Among

 

GHP Acquisition Corp.,

 

The Management Stockholders

 

and

 

The Investors

as defined herein

 

Dated as of
                 
    , 2003

 

 

TABLE OF CONTENTS

 

	
  1.

  	
  Certain
  Definitions

  	
   

  
	
  2.

  	
  Demand
  Registration

  	
   

  
	
  3.

  	
  Form S-3

  	
   

  
	
  4.

  	
  Piggyback
  Registration

  	
   

  
	
  5.

  	
  Registration
  Procedures

  	
   

  
	
  6.

  	
  Expenses

  	
   

  
	
  7.

  	
  Indemnification

  	
   

  
	
  8.

  	
  Compliance with
  Rule 144

  	
   

  
	
  9.

  	
  Rule 144A Information

  	
   

  
	
  10.

  	
  Amendments

  	
   

  
	
  11.

  	
  Postponement

  	
   

  
	
  12.

  	
  Market Stand-Off

  	
   

  
	
  13.

  	
  Transferability
  of Registration Rights

  	
   

  
	
  14.

  	
  Rights
  Which May Be Granted to Subsequent Investors

  	
   

  
	
  15.

  	
  Damages

  	
   

  
	
  16.

  	
  Miscellaneous

  	
   

  

 

i

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (the “Agreement”) is dated as of this
        day of
                      
2003, by and among GHP Acquisition Corp., Inc., a Delaware corporation (the
“Company”), the persons identified on the signature pages hereto as Investors
(collectively, the “Investors,” and each individually, an “Investor”) and the
persons identified on the signature pages hereto as Management Stockholders
(collectively, the “Management Stockholders,” and each individually, a
“Management Stockholder”).  The Management Stockholders and the Investors
are sometimes referred to herein collectively as the “Stockholders,” and each
individually as a “Stockholder.”

 

WHEREAS, the parties to this
Agreement entered into a certain Securities Purchase Agreement, dated as of May
     , 2003 (the “Purchase Agreement”), whereby the
Stockholders agreed to purchase (i) shares of Series A Preferred Stock, par
value $.01 per share (the “Series A Preferred Stock”) from the Company for an
aggregate purchase price of $34,923,565, and (ii) shares of Common Stock, par
value $.01 per share (the “Common Stock” and together with the Series A
Preferred Stock, the “Securities”) from the Company for an aggregate purchase
price of $8,500; and

 

WHEREAS, the execution of
this Agreement is an inducement and a condition precedent to the purchase by
the Stockholders of the Securities under the Purchase Agreement;

 

NOW, THEREFORE, in
consideration of the premises, as an inducement to the Stockholders to
consummate the transactions contemplated by the Purchase Agreement, and for
other good and valuable consideration, the receipt and sufficiency of which is
hereby acknowledged, the Company and the Stockholders hereby covenant and agree
with each other as follows:

 

1.            
Certain Definitions.  As used in this Agreement, the following terms shall have the
following respective meanings:

 

“Commission” shall
mean the United States Securities and Exchange Commission, or any other federal
agency administering the Securities Act and the Exchange Act at the time.

 

“Common Stock” shall
mean the Common Stock and any other common equity securities issued by the
Company, and any other shares of, stock issued or issuable with respect thereto
(whether by way of a stock dividend or stock split or in exchange for or upon
conversion of such shares or otherwise in connection with a combination of shares,
recapitalization, merger: consolidation or other corporate reorganization).

 

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

 

“Person” shall mean
an individual, a corporation, a partnership, a joint venture, a trust, an
unincorporated organization, a limited liability company or partnership, a
government and any agency or political subdivision thereof.

 

1

 

“Registrable Securities”
shall mean (i) any shares of Common Stock held by the Stockholders at any time,
and (ii) any other securities issued and issuable with respect to any such
shares described in clause (i) above by way of a stock dividend or stock split
or in connection with a combination of shares, recapitalization, merger,
consolidation or other reorganization (it being understood that for purposes of
this Agreement, a Person will be deemed to be a holder of Registrable
Securities whenever such Person has the right to then acquire or obtain from
the Company any Registrable Securities, whether or not such acquisition has
actually been effected).

 

“Registration Expenses”
shall mean the expenses so described in Section 6 hereof.

 

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

 

All other capitalized terms
not defined herein shall have the meaning set forth in the Purchase Agreement
unless otherwise indicated.

 

2.            
Demand Registration.

 

(a)          
At any time after 180 days after the initial public offering of the Common
Stock pursuant to an effective registration under the Securities Act, the
holders of at least a majority of the Registrable Securities may notify the
Company that they intend to offer or cause to be offered for public sale all or
any portion of their Registrable Securities in the manner specified in such
request.  Upon receipt of such request, the Company shall promptly deliver
notice of such request to all Stockholders holding Registrable Securities who
shall then have thirty (30) days to notify the Company in writing of their
desire to be included in such registration.  If the request for
registration contemplates an underwritten public offering, the Company shall
state such in the written notice and in such event the right of any Person to
participate in such registration shall be conditioned upon such Person’s
participation in such underwritten public offering and the inclusion of such
Person’s Registrable Securities in the underwritten public offering to the
extent provided herein.  The Company will use its best efforts to
expeditiously effect (but in any event no later than forty-five (45) days after
such request) the registration of all Registrable Securities whose holders
request participation in such registration under the Securities Act, but only
to the extent provided for in this Agreement; provided, however, that the
Company shall not be required to effect registration pursuant to a request
under this Section 2 more than three (3) times for the holders of the Registrable
Securities as a group.  Notwithstanding anything to the contrary contained
herein, no request may be made under this Section 2 within ninety (90) days
after the effective date of a registration statement filed by the Company
covering a firm commitment underwritten public offering in which the holders of
Registrable Securities shall have been entitled to join pursuant to Section 4
and in which there shall have been effectively registered all Registrable
Securities as to which registration shall have been requested.  A
registration will not count as a requested registration under this section 2(a)
unless and until the registration statement relating to such registration has
been declared effective by the Commission at the request of the initiating shareholders;
provided, however, that a majority in interest of the participating holders of
Registrable Securities may request, in writing, that the Company withdraw a
registration statement which has been filed under this

 

2

 

Section 2(a) but has not yet
been declared effective, and a majority in interest of such holders may
thereafter request the Company to reinstate such registration statement, if
permitted under the Securities Act, or to file another registration statement,
in accordance with the procedures set forth herein and without reduction in the
number of demand registrations permitted under this Section 2(a).

 

(b)          
If a requested registration involves an underwritten public offering and the
managing underwriter of such offering determines in good faith that the number
of securities sought to be offered should be limited due to market conditions,
then the number of securities to be included in such underwritten public
offering shall be reduced to a number deemed satisfactory by such managing
underwriter, provided, that the shares to be excluded shall be determined in
the following order of priority: (i) persons not having any contractual or
other right to include such securities in the registration statement, (ii)
securities held by any other Persons (other than the holders of Registrable
Securities) having a contractual, incidental “piggy back” right to include such
securities in the registration statement, (iii) securities to be registered by
the Company pursuant to such registration statement, (iv) Registrable
Securities of holders who did not make the original request for registration
and, if necessary, (v) Registrable Securities of holders who requested such
registration pursuant to Section 2(a).  If there is a reduction of the
number of Registrable Securities pursuant to clauses (iv) or (v), such
reduction shall be made on a pro rata basis (based upon the aggregate number of
Registrable Securities held by such holders).

 

(c)          
With respect to a request for registration pursuant to Section 2(a) which is
for an underwritten public offering, the managing underwriter shall be chosen
by the holders of a majority of the Registrable Securities to be sold in such
offering (which approval will not be unreasonably withheld or delayed). 
The Company may not cause any other registration of securities for sale for its
own account (other than a registration effected solely to implement an employee
benefit plan or a transaction to which Rule 145 of the Securities Act is
applicable) to become effective within one hundred twenty (120) days following
the effective date of any registration required pursuant to this Section 2.

 

3.            
Form S-3.  After the first public offering of
its securities registered under the Securities Act, the Company shall use its
best efforts to qualify and remain qualified to register securities pursuant to
a registration statement on Form S-3 (or any successor form) under the
Securities Act.  A Stockholder or Stockholders holding Registrable
Securities anticipated to have an aggregate sale price (net underwriting
discounts and commissions, if any) in excess of $500,000 shall have the right
to request any number of registrations on Form S-3 (or any successor form) for
the Registrable Securities held by such requesting holders.  Such requests
shall be in writing and shall state the number of shares of Registrable
Securities to be disposed of and the intended method of disposition of such
shares by such holder or holders.  The Company shall give notice to all
other holders of the Registrable Securities of the receipt of a request for
registration pursuant to this Section 3 and such holders of Registrable
Securities shall then have thirty (30) days to notify the Company in writing of
their desire to participate in the registration.  The Company shall uses
its best efforts to effect promptly the registration of all shares on Form S-3
(or a comparable successor form) to the extent requested by such holders. 
The Company shall use its best efforts to keep such registration statement
effective until the earlier of 90 days or until such holders have completed the
distribution described in such registration statement.

 

3

 

4.            
Piggyback Registration.  If the Company at any time proposes
to register any of its securities under the Securities Act for sale to the
public (except with respect to registration statements on Forms S-4, S-8 or
another form not available for registering the Registrable Securities for sale
to the public), each such time it will give written notice at the applicable
address of record to each holder of Registrable Securities of its intention to
do so.  Upon the written request of any of such holders of the Registrable
Securities, given within twenty (20) days after receipt by such Person of such
notice, the Company will, subject to the limits contained in this Section 4,
use its best efforts to cause all such Registrable Securities of said
requesting holders to be registered under the Securities Act and qualified for
sale under any state blue sky law, all to the extent required to permit such
sale or other disposition of said Registrable Securities; provided, however,
that if the Company is advised in writing in good faith by any managing
underwriter of the Company’s securities being offered in a public offering
pursuant to such registration statement that the amount to be sold by persons
other than the Company (collectively, “Selling Stockholders”) is greater than
the amount which can be offered without adversely affecting the offering, the
Company may reduce the amount offered for the accounts of Selling Stockholders
(including such holders of shares of Registrable Securities) to a number deemed
satisfactory by such managing underwriter; and provided further, that (a) in no
event shall the amount of Registrable Securities of selling Stockholders be
reduced below ten percent (10%) of the total amount of securities included in
such offering, unless such offering is the initial public offering of the
Company’s securities; and (b) any shares to be excluded shall be determined in
the following order of priority: (i) securities held by any Persons not having
any such contractual, incidental registration rights, (ii) securities held by
any Persons having contractual, incidental registration rights pursuant to an
agreement which is not this Agreement, and (iii) the Registrable Securities
sought to be included by the holders thereof as determined on a pro rata basis
(based upon the aggregate number of Registrable Securities held by such
holders).

 

5.            
Registration Procedures.  If and whenever the Company is
required by the provisions of this Agreement to use its best efforts to
promptly effect the registration of any of its securities under the Securities
Act, the Company will:

 

(a)          
use its best efforts diligently to prepare and file with the Commission a
registration statement on the appropriate form under the Securities Act with
respect to such securities, which form shall comply as to form in all material
respects with the requirements of the applicable form and include all financial
statements required by the Commission to be filed therewith, and use its best
efforts to cause such registration statement to become and remain effective
until completion of the proposed offering;

 

(b)          
use its best efforts to diligently prepare and file with the Commission such
amendments and supplements to such registration statement and the prospectus
used in connection therewith as may be necessary to keep such registration
statement effective until the Holder or Holders have completed the distribution
described in such registration statement and to comply with the provisions of
the Securities Act with respect to the sale or other disposition of all
securities covered by such registration statement whenever the seller or
sellers of such securities shall desire to sell or otherwise dispose of the
same, but only to the extent provided in this Agreement;

 

4

 

(c)          
furnish to each selling holder and the underwriters, if any, such number of
copies of such registration statement, any amendments thereto, any documents
incorporated by reference therein, the prospectus, including a preliminary
prospectus, in conformity with the requirements of the Securities Act, and such
other documents as such selling holder may reasonably request in order to
facilitate the public sale or other disposition of the securities owned by such
selling holder;

 

(d)          
use its best efforts to register or qualify the securities covered by such
registration statement under such other securities or state blue sky laws of
such jurisdictions as.  each selling holder shall request, and do any and
all other acts and things which may be necessary under such securities or blue
sky laws to enable such selling holder to consummate the public sale or other
disposition in such jurisdictions of the securities owned by such selling
holder, except that the Company shall not for any such purpose be required to
qualify to do business as a foreign corporation in any jurisdiction wherein it
is not so qualified;

 

(e)          
within a reasonable time before each filing of the registration statement or
prospectus or amendments or supplements thereto with the Commission, furnish to
counsel selected by the holders of Registrable Securities copies of such
documents proposed to be filed, which documents shall be subject to the
approval of such counsel;

 

(f)           
immediately notify each selling holder of Registrable Securities, such selling
holder’s counsel and any underwriter and (if requested by any such Person)
confirm such notice in writing, of the happening of any event which makes any
statement made in the registration statement or related prospectus untrue or
which requires the making of any changes in such registration statement or
prospectus so that they will not contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein in the light of the circumstances
under which they were made not misleading; and, as promptly as practicable
thereafter, prepare and file with the Commission and furnish a supplement or
amendment to such prospectus so that, as thereafter deliverable to the
purchasers of such Registrable Securities, such prospectus will not contain any
untrue statement of a material fact or omit to state a material fact necessary
to make the statements therein, in the light of the circumstances under which
they were made, not misleading;

 

(g)          
use its best efforts to prevent the issuance of any order suspending the
effectiveness of a registration statement, and if one is issued use its best efforts
to obtain the withdrawal of any order suspending the effectiveness of a
registration statement at the earliest possible moment;

 

(h)          
if requested by the managing underwriter or underwriters (if any), any selling
holder, or such selling holder’s counsel, promptly incorporate in a prospectus
supplement or post-effective amendment such information as such Person requests
to be included therein, including, without limitation, with respect to the
securities being sold by such selling holder to such underwriter or
underwriters, the purchase price being paid therefor by such underwriter or
underwriters and with respect to any other terms of an underwritten offering of
the securities to be sold in such offering, and promptly make all required filings
of such prospectus supplement or post-effective amendment;

 

5

 

(i)           
make available to each selling holder, any underwriter participating in any
disposition pursuant to a registration statement, and any attorney, accountant
or other agent or representative retained by any such selling holder or
underwriter (collectively, the “Inspectors”), all financial and other records,
pertinent corporate documents and properties of the Company (collectively, the
“Records”), as shall be reasonably necessary to enable them to exercise their
due diligence responsibility, and cause the Company’s officers, directors and
employees to supply all information requested by any such Inspector in
connection with such registration statement;

 

(j)           
enter into any reasonable underwriting agreement required by the proposed
underwriter(s) for the selling holders, if any, and use its best efforts to
facilitate the public offering of the securities;

 

(k)          
furnish to each prospective selling holder a signed counterpart, addressed to
the prospective selling holder, of (A) an opinion of counsel for the Company,
dated the effective date of the registration statement, and (B) a “comfort”
letter signed by the independent public accountants who have certified the
Company’s financial statements included in the registration statement, covering
substantially the same matters with respect to the registration statement (and
the prospectus included therein) and (in the case of the accountants’ letter)
with respect to events subsequent to the date of the financial statements, as
are customarily covered (at the time of such registration) in opinions of the
Company’s counsel and in accountants’ letters delivered to the underwriters in
underwritten public offerings of securities;

 

(l)           
cause the securities covered by such registration statement to be listed on the
securities exchange or quoted on the quotation system on which the Common Stock
of the Company is then listed or quoted (or if the Common Stock is not yet
listed or quoted, then on such exchange or quotation system as the selling
holders of Registrable Securities and the Company shall determine);

 

(m)         
otherwise use its best efforts to comply with all applicable rules and
regulations of the Commission and make generally available to its security
holders, in each case as soon as practicable, but not later than 30 days after
the close of the period covered thereby, an earnings statement of the Company which
will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158
thereunder (or any comparable successor provisions);

 

(n)          
otherwise cooperate with the underwriter(s), the Commission and other
regulatory agencies and take all actions and execute and deliver or cause to be
executed and delivered all documents necessary to effect the registration of
any securities under this Agreement; and

 

(o)          
during the period when the prospectus is required to be delivered under the
Securities Act, promptly file all documents required to be filed with the
Commission pursuant to Sections 13(a), 13(c), 14, or 15(d) of the Exchange Act.

 

6.            
Expenses.  All expenses incurred by the Company or the Stockholders in
effecting the registrations provided for in Sections 2, 3 and 4, including,
without limitation, all registration and filing fees, printing expenses, fees
and disbursements of counsel for the

 

6

 

Company, and one counsel for
the Stockholders participating in such registration as a group (selected by a
majority-in-interest of the holders of Registrable Securities who participate
in the registration) underwriting expenses (other than fees, commissions or
discounts), expenses of any audits incident to or required by any such
registration and expenses of complying with the securities or blue sky laws of
any jurisdictions (all of such expenses referred to as “Registration
Expenses”), shall be paid by the Company.

 

7.            
Indemnification.

 

(a)          
The Company shall indemnify and hold harmless each Stockholder that is a
selling holder of Registrable Securities (including its partners (including
partners of partners and shareholders of such partners)), each underwriter (as
defined in the Securities Act), and directors, officers, employees and agents
of any of them, and each other Person who participates in the offering of such
securities and each other Person, if any, who controls (within the meaning of
the Securities Act) such seller, underwriter or participating Person
(individually and collectively, the “Indemnified Person”) against any losses,
claims, damages or liabilities (collectively, the “liability”), joint or
several, to which such Indemnified Person may become subject under the
Securities Act or any other statute or at common law, insofar as such liability
(or action in respect thereof) arises out of or is based upon (i) any untrue
statement or alleged untrue statement of any material fact contained, on the
effective date thereof, in any registration statement under which such
securities were registered under the Securities Act, any preliminary prospectus
or final prospectus contained therein, or any amendment or supplement thereto,
or (ii) 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 (iii) any violation by the Company of the Securities Act, any
state securities or “blue sky” laws or any sale or regulation thereunder in
connection with such registration.  Except as otherwise provided in
Section 7(d), the Company shall reimburse each such Indemnified Person in
connection with investigating or defending any such liability; provided ,
however, that the Company shall not be liable to any Indemnified Person in
any such case to the extent that any such liability arises out of or is based
upon any untrue statement or alleged untrue statement or omission or alleged
omission made in such registration statement, preliminary or final prospectus,
or amendment or supplement thereto in reliance upon and in conformity with
information furnished in writing to the Company by such Person specifically for
use therein; and provided further, that the Company shall not be
required to indemnify any Person against any liability arising from any untrue
or misleading statement or omission contained in any preliminary prospectus if
such deficiency is corrected in the final prospectus or for any liability which
arises out of the failure of any Person to deliver a prospectus as required by
the Securities Act regardless of any investigation made by or on behalf of such
Indemnified Person and shall survive transfer of such securities by such
seller.

 

(b)          
Each Stockholder holding of any securities included in such registration being
effected shall indemnify and hold harmless each other selling holder of any
securities, the Company, its directors and officers, each underwriter and each
other Person, if any, who controls (within the meaning of the Securities Act)
the Company or such underwriter (individually and collectively also the
“Indemnified Person”), against any liability, joint or several, to which any
such Indemnified Person may become subject under the Securities Act or any
other statute or at common law, insofar as such liability (or actions in
respect thereof) arises out of or is based upon (i) any untrue statement or
alleged untrue statement of any material fact contained, on the

 

7

 

effective date thereof, in
any registration statement under which securities were registered under the
Securities Act at the request of such selling Stockholder, any preliminary
prospectus or final prospectus contained therein, or any amendment or
supplement thereto, or (ii) any omission or alleged omission by such selling
Stockholder to state therein a material fact required to be stated therein or
necessary to make the statements therein not misleading, in the case of (i) and
(ii) to the extent, but only to the extent, that such untrue statement or
alleged untrue statement or omission or alleged omission was made in such
registration statement, preliminary or final prospectus, amendment or
supplement thereto in reliance upon and in conformity with information
furnished in writing to the Company by such selling Stockholder specifically
for use therein.  Such selling Stockholder shall reimburse any Indemnified
Person for any legal fees incurred in investigating or defending any such liability;
provided, however, that in no event shall the liability of any
Stockholder for indemnification under this Section 7 in its capacity as a
seller of Registrable Securities exceed the lesser of (i) that proportion of
the total of such losses, claims, damages, expenses or liabilities indemnified
against equal to the proportion of the total securities sold under such
registration statement which is being held by such Stockholder, or (ii) the
amount equal to the proceeds to such Stockholder of the securities sold in any
such registration; and provided further, however, that no selling
Stockholder shall be required to indemnify any Person against any liability
arising from any untrue or misleading statement or omission contained in any
preliminary prospectus if such deficiency is corrected in the final prospectus
or for any liability which arises out of the failure of any Person to deliver a
prospectus as required by the Securities Act.

 

(c)          
Indemnification similar to that specified in Sections 7(a) and (b) shall be
given by the Company and each selling holder (with such modifications as may be
appropriate) with respect to any required registration or other qualification
of their securities under any federal or state law, or regulation of
governmental authority other than the Securities Act.

 

(d)          
In the event the Company, any selling holder or other Person receives a
complaint, claim or other notice of any liability or action, giving rise to a
claim for indemnification under Sections 7(a), (b) or (c) above, the Person
claiming indemnification under such paragraphs shall promptly notify the Person
against whom indemnification is sought of such complaint, notice, claim or
action, and such indemnifying Person shall have the right to investigate and
defend any such loss, claim, damage, liability or action.

 

(e)          
If the indemnification provided for in this Section 7 for any reason is held by
a court of competent jurisdiction to be unavailable to an Indemnified Person in
respect of any losses, claims, damages expenses or liabilities referred to
therein, then each indemnifying party under this Section 7, in lieu of
indemnifying such indemnified party thereunder, shall contribute to the amount
paid or payable by such indemnified party as a result of such losses, claims,
damages, expenses or liabilities (i) in such proportion as is appropriate to
reflect the relative benefits received by the Company, the Stockholder, or
Stockholders and the underwriters from the offering of Registrable Securities
or (ii) if the allocation provided by clause (i) above is not permitted by
applicable law,, in such proportion as is appropriate to reflect not only the
relative benefits referred to in clause (i) above but also the relative fault
of the Company, the other Stockholders and the underwriters in connection with
the statements or omissions which resulted in such losses, claims, damages
expenses or liabilities, as well as any other relevant equitable
considerations.  The relative benefits received by the Company, the
Stockholders and the underwriters shall be deemed to be in the same respective
proportions that the net proceeds from the offering (before deducting expenses)
received by the Company, the Stockholders, and the underwriting discount
received by the underwriters, in each case as set forth in the table on the
cover page of the applicable prospectus, bear to the aggregate public offering
price of the Registrable Securities.  The relative fault of the Company,
the Stockholders and the

 

8

 

underwriters shall be
determined by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission or alleged omission to
state a material fact relates to information supplied by the Company, the
Stockholders, or the underwriters and the parties’ relative intent, knowledge,
access to information and opportunity to correct or prevent such statement or
omission.

 

The Company, the
Stockholders and the Underwriters agree that it would not be just and equitable
if contribution to this Section 7 were determined by pro rata or per capita
allocation or by any other method of allocation which does not take account the
equitable considerations referred to in the immediately preceding
paragraph.  In no event, however, shall an Stockholder be required to
contribute under this Section 7(e) in excess of the lesser of (i) that
proportion of the total of such losses, claims, damages expenses or liabilities
indemnified against equal to the proportion of the total Registrable Securities
sold under such registration statement which are being sold by such Stockholder
or (ii) the net proceeds received by such Stockholder from its sale of
Registrable Securities under such registration statement.  No Person found
guilty of fraudulent representation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not
found guilty of such fraudulent misrepresentation.

 

(f)           
The amount paid by an indemnifying party or payable to an Indemnified Person as
a result of the losses, claims, damages, expenses and liabilities referred to
in this Section 7 shall be deemed to include, subject to limitations set forth
above, any legal or other expenses reasonably incurred by such indemnified
party in connection with investigating or defending any such action or claim,
payable as the same are incurred.  The indemnification and contribution
provided for in this Section 7 will remain in full force and effect regardless
of any investigation made by or on behalf of the indemnified parties or any
other officer, director, employee, agent or controlling person of the
indemnified parties.  No indemnifying party, in the defense of any such
claim or litigation, shall enter into a consent or entry of any judgment or
enter into a settlement without the consent of the Indemnified Person, which
consent will not be unreasonably withheld or delayed.

 

8.            
Compliance with Rule 144.  In the event that the Company (i)
registers a class of securities under Section 12 of the Exchange Act or (ii)
shall commence to file reports under Section 13 or 15(d) of the Exchange Act,
the Company will use its best efforts thereafter to file with the Commission
such information as is required under the Exchange Act for so long as there are
holders of Registrable Securities; and in such event, the Company shall use its
best efforts to take all action as may be required as a condition to the
availability of Rule 144 under the Securities Act (or any comparable successor
rules).  The Company shall furnish to any holder of Registrable Securities
upon request a written statement executed by the Company as to the steps it has
taken to comply with the current public information requirement of Rule 144 (or
such comparable -successor rules).  After the occurrence of the first
underwritten public offering of Common Stock of the Company pursuant to an
offering registered under the Securities Act on

 

9

 

Form S-1 or Form SB-1 (or
any comparable successor forms), subject to the limitations on transfers
imposed by this Agreement, the Company shall use its best efforts to facilitate
and expedite transfers of Registrable Securities pursuant to Rule 144 under the
Securities Act, which efforts shall include timely notice to its, transfer
agent to expedite such transfers of Registrable Securities.

 

9.            
Rule 144A Information.  The Company shall, upon written
request of any Stockholder, provide to such Stockholder and to any prospective
institutional transferee of the Common Stock designated by such Stockholder,
such financial and other information as is available to the Company or can be
obtained by the Company without material expense and as such Stockholder may
reasonably determine is required to permit such transfer to comply with the
requirements of Rule 144A promulgated under the Securities Act.

 

10.          Amendments.  The provisions of this Agreement may be amended, and the
Company may take any action herein prohibited or omit to perform any act herein
required to be performed by it, only if the Company has obtained the written
consent of the holders of at least a majority of the Registrable
Securities.  For the purposes of this Agreement and all agreements
executed pursuant hereto, no course of dealing between or among any of the
parties hereto and no delay on the part of any party hereto in exercising any
rights hereunder or thereunder shall operate as a waiver of the rights hereof and
thereof.

 

11.          Postponement.  The Company may postpone the filing of any registration
statement required hereunder for a reasonable period of time, not to exceed
ninety (90) days in the aggregate during any twelve-month period, if the
Company has been advised by legal counsel that such filing would require a
special audit or the disclosure of a material impending transaction or other
matter and the Company’s Board of Directors determines reasonably and in good
faith that such disclosure would have a material adverse effect on the Company
(a “Black-Out Period”).  Upon notice of the existence of a Black-Out
Period from the Company to any Stockholder or Stockholders with respect to any
registration statement already effective, such Stockholder or Stockholders
shall refrain from selling their Registrable Securities under such registration
statement until such Black-Out Period has ended; provided, however, that the
Company shall not impose a Black-Out Period with respect to any registration
statement that is already effective more than once during any period of twelve
(12) consecutive months and in no event shall such Black-Out Period exceed
sixty (60) days.

 

12.          Market Stand-Off.  Each Stockholder agrees, that if
requested by the Company and an underwriter of Registrable Securities of the
Company in connection with any public offering of the Company, not to directly
or indirectly offer, sell, contract to sell, sell any option or contract to
purchase, purchase any option or contract to sell, grant any option, right or
warrant for the sale of or otherwise dispose of or transfer any shares held by
it for such period, not to exceed (a) one hundred eighty (180) days following
the effective date of the relevant registration statement filed under the Securities
Act in connection with the Company’s initial public offering of Registrable
Securities, or (b) ninety (90) days following the effective date of the
relevant registration statement in connection with any other public offering of
Registrable Securities, as such underwriter shall specify reasonably and in
good faith, provided, however, that all officers and directors of the Company
and all 1 % or greater stockholders of the Company enter into similar
agreements.

 

10

 

13.          Transferability of Registration
Rights.  The
registration rights set forth in this Agreement are transferable to each
transferee of Registrable Securities.  Each subsequent holder of
Registrable Securities must consent in writing to be bound by the terms and
conditions of this Agreement in order to acquire the rights granted pursuant to
this Agreement.

 

14.          Rights Which May Be Granted to
Subsequent Stockholders.  Other than permitted transferees of Registrable Securities
under this Section, the Company shall not, without the prior written consent of
holders of at least a majority of the Registrable Securities, (a) allow
purchasers of the Company’s securities to become a party to this Agreement or
(b) grant any other registration rights other than any incidental or so called
piggyback registration rights to any third parties that are not inconsistent
with the terms of this Agreement.

 

15.          Damages.  The Company recognizes and agrees that each holder of
Registrable Securities will not have an adequate remedy if the Company fails to
comply with the terms and provisions of this Agreement and that damages will
not be readily ascertainable, and the Company expressly agrees that, in the
event of such failure, it shall not oppose an application by any holder of
Registrable Securities or any other Person entitled to the benefits of this
Agreement requiring specific performance of any and all provisions hereof or
enjoining the Company from continuing to commit any such breach of this
Agreement.

 

16.          Miscellaneous.

 

(a)          
Notices.  All notices, requests, demands and other communications
provided for hereunder shall be in writing and mailed (by first class
registered or certified mail, postage prepaid), telegraphed, sent by express
overnight courier service or electronic facsimile transmission (with a copy by
mail), or delivered to the applicable party at the addresses indicated below:

 

If to the Management Stockholders:

 

At the addresses listed in
the signature pages hereto

 

With a copy to:

 

Cooley Godward LLP

3175 Hanover Street

Palo Alto, CA 94304-1130

Fax No.: (650) 849-7400

Attention: Craig E. Dauchy

 

If to the Company:

 

GHP Acquisition Corp.

c/o Great Hill Partners, L.P.

1 Liberty Square

Boston, MA 02109

Fax: (617) 790-9401

Attn: Christopher S. Gaffney

 

11

 

With a copy to:

 

Goodwin Procter LLP

Exchange Place

53 State Street Boston, MA 02109

Attention: David F. Dietz, P.C.

Telecopy No.: (617) 523-1231

 

If to any other holder of Registrable Securities:

 

At such Person’s address for
notice as set forth in the books and records of the Company or, as to each of
the foregoing, at such other address as shall be designated by such Person in a
written notice to other parties complying as to delivery with the terms of this
subsection (a).  All such notices, requests, demands and other
communications shall, when mailed, telegraphed or sent, respectively, be
effective (i) two days after being deposited in the mails or (ii) one day after
being delivered to the telegraph company, deposited with the express overnight
courier service or sent by electronic facsimile transmission, respectively,
addressed as aforesaid.

 

(b)          
Governing Law.  This Agreement shall be governed by and construed
in accordance with the laws of the State of Delaware, without giving effect to
conflict of laws principles thereof.

 

(c)          
Dispute Resolution.

 

(i)           
All disputes, claims or controversies arising out of or relating to this
Agreement or any other agreement executed and delivered pursuant to this
Agreement or the negotiation, validity or performance hereof and thereof or the
transactions contemplated hereby and thereby that are not resolved by mutual
agreement shall be resolved solely and exclusively by binding arbitration
before JAMS/Endispute, Inc., or its successor.  The arbitration shall be
held in Delaware before a single arbitrator and shall be conducted in
accordance with the rules and regulations promulgated by JAMS/Endispute, Inc.
unless specifically modified herein.

 

The
parties covenant and agree that the arbitration shall commence within ninety
(90) days of the date on which a written demand for arbitration is filed by any
party hereto.  In connection with the arbitration proceeding, the
arbitrator shall have the power to order the production of documents by each
party and any third party witnesses.  In addition, each party may take up
to three (3) depositions as of right, and the arbitrator may in his or her
discretion allow additional depositions upon good cause shown by the moving
party.  However, the arbitrator shall not have the power to order the
answering of interrogatories or the response to requests for admission. 
In connection with any arbitration, each party shall provide to the other, no
later than (7) business days before the date of the arbitration, the identity
of all persons that may testify at the arbitration and a copy of all documents
that may be introduced at the arbitration or considered or used by a party’s
witness or expert.  The arbitrator’s decision and award shall be made and
delivered within six (6) months of the selection of the arbitrator.  The
arbitrator’s decision shall set forth a reasoned basis for any award of damages
or finding of liability.  ‘The arbitrator shall not have the power to
award damages in excess of actual

 

12

 

compensatory damages and
shall not multiply actual damages or award punitive damages or any other
damages that are specifically excluded under this Agreement, and each party
hereby irrevocably waives any claim to such damages.

 

The
parties covenant and agree that they will participate in the arbitration in
good faith and that they will share equally its costs, except as otherwise
provided herein.  The arbitrator may in his or her discretion assess costs
and expenses (including reasonable legal fees and expenses of the prevailing
party) against any party to a proceeding.  Any party unsuccessfully refusing
to comply with an order of the arbitrators shall be liable for costs and
expenses, including attorney’s fees, incurred by the other party in enforcing
the award.  This Section applies equally to requests for temporary,
preliminary or permanent injunctive relief, except that in the case of
temporary or preliminary injunctive relief any party may proceed in court
without prior arbitration for the limited purpose of avoiding immediate and
irreparable harm.  The provisions of this Section shall be enforceable in
any court of competent jurisdiction.

 

The
parties shall bear their own attorneys’ fees, costs and expenses in connection
with the arbitration.  The parties will share equally in the fees and
expenses charges by J.A.M.S.

 

(ii)          
Each of the parties hereto irrevocably and unconditionally consents to the
exclusive jurisdiction of J.A.M.S./Endispute, Inc. to resolve all disputes,
claims or controversies arising out of or relating to this Agreement or any
other agreement executed and delivered pursuant to this Agreement or the
negotiation, validity or performance hereof and thereof or the transactions
contemplated hereby and thereby and further consents to the jurisdiction of the
courts of Delaware for the purposes of enforcing the arbitration provisions of
paragraph (a) above.  Each party further irrevocably waives any objection
to proceeding before J.A.M.S./Endispute, Inc. based upon lack of personal
jurisdiction or to the laying of the venue and further irrevocably and
unconditionally waives and agrees not to make a claim in any court that
arbitration before J.A.M.S./Endispute, Inc. has been brought in an inconvenient
forum.  Each of the parties hereto hereby consents to service of process
by registered mail at the address to which notices are to be given.  Each
of the parties hereto agrees that its or his submission to jurisdiction and its
or his consent to service of process by mail is made for the express benefit of
the other parties hereto.

 

(d)          
Counterparts.  This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which
together shall constitute one and the same instrument.

 

(e)          
Severability.  If any provision of this Agreement shall be held to
be illegal, invalid or unenforceable, such illegality, invalidity or
unenforceability shall attach only to such provision and shall not in any
manner affect or render illegal, invalid or unenforceable any other provision
of this Agreement, and this Agreement shall be carried out as if any such
illegal, invalid or unenforceable provision were not contained herein.

 

(f)           
Integration.  This Agreement, including the exhibits, documents and
instruments referred to herein or therein, constitutes the entire agreement
among the parties with respect to the subject matter.

 

13

 

[SIGNATURE PAGE FOLLOWS]

 

14

 

IN WITNESS WHEREOF, the
parties hereto have caused this Registration Rights Agreement to be duly
executed as of the date first set forth above.

 

	
   

  	
  COMPANY:

  
	
   

  	
   

  
	
   

  	
  GHP
  ACQUISITION CORP.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  INVESTORS:

  
	
   

  	
   

  
	
   

  	
  GREAT
  HILL EQUITY PARTNERS II

  
	
   

  	
  LIMITED
  PARTNERSHIP,

  
	
   

  	
   

  
	
   

  	
  By:
  Great Hill Partners GP. II, LLC,

  
	
   

  	
  its
  General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  GREAT HILL EQUITY PARTNERS II

  
	
   

  	
  LIMITED PARTNERSHIP,

  
	
   

  	
   

  
	
   

  	
  By:Great
  Hill Partners GP II, LLC,

  
	
   

  	
  its
  General Partner

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  

 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

 

15

 

	
   

  	
  MANAGEMENT STOCKHOLDERS:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Christopher Anderson

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Mark Jung

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  Kenneth Keller

  
	
   

  	
   

  
	
   

  	
  Address:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  

 

[SIGNATURE PAGE TO REGISTRATION RIGHTS AGREEMENT]

 

16

 

EXHIBIT D

 

Form of Director Indemnification Agreement

 

 

 

FORM OF INDEMNIFICATION AGREEMENT

 

This Agreement made and
entered into this
            day of
                ,
2003 (the “Agreement”), by and between [Newco], Inc., a Delaware corporation (the “Company,”
which term shall include, where appropriate, any Entity (as hereinafter
defined) controlled directly or indirectly by the Company),. and [DIRECTOR]
(the “Indemnitee”):

 

WHEREAS, it is essential to
the Company that it be able to retain and attract as directors the most capable
persons available;

 

WHEREAS, increased corporate
litigation has subjected directors to litigation risks and expenses, and the
limitations on the availability of directors and officers liability insurance
have made it increasingly difficult for the Company to attract and retain such
persons;

 

WHEREAS, the Company’s
Certificate of Incorporation and Bylaws (the “Certificate” and “Bylaws,”
respectively) require it to indemnify its directors to the fullest extent
permitted by law and permit it to make other indemnification arrangements and
agreements;

 

WHEREAS, the Company desires
to provide Indemnitee with specific contractual assurance of Indemnitee’s
rights to full indemnification against litigation risks and expenses
(regardless, among other things, of any amendment to or revocation of the Certificate
or Bylaws or any change in-the ownership of the Company or the composition of
its Board of Directors);

 

WHEREAS, the Company intends
that this Agreement provide Indemnitee with greater protection than that which
is provided by the Company’s Certificate and Bylaws; and

 

WHEREAS, Indemnitee is
relying upon the rights afforded under this Agreement in becoming a director of
the Company.

 

NOW, THEREFORE, in
consideration of the promises and the covenants contained herein, the Company
and Indemnitee do hereby covenant and agree as follows:

 

1.            
Definitions.

 

(a)          
“Corporate Status” describes the status of a person who is serving or
has served (i) as a director or officer of the Company, (ii) in any capacity
with respect to any employee benefit plan of the Company, or (iii) as a
director, partner, trustee, officer, employee, or agent of any other Entity at
the request of the Company. For purposes of subsection (iii) of this
Section 1(a), if Indemnitee is serving or has served as a director,
partner, trustee, officer, employee or agent of a Subsidiary, Indemnitee shall
be deemed to be serving at the request of the Company.

 

(b)          
“Entity” shall mean any corporation, partnership, limited liability
company, joint venture, trust, foundation, association, organization or other
legal entity.

 

1

 

(c)          
“Expenses” shall mean all fees, costs and expenses incurred by
Indemnitee in connection with any Proceeding (as defined below), including,
without limitation, attorneys’ fees, disbursements and retainers (including,
without limitation, any such fees, disbursements and retainers incurred by
Indemnitee pursuant to Sections 10 and 11(c) of this Agreement), fees and
disbursements of expert witnesses, private investigators and professional
advisors (including, without limitation, accountants and investment bankers),
court costs, transcript costs, fees of experts, travel expenses, duplicating,
printing and binding costs, telephone and fax transmission charges, postage,
delivery services, secretarial services, and other disbursements and expenses.

 

(d)          
“Indemnifiable Expenses,” “Indemnifiable Liabilities” and “Indemnifiable
Amounts” shall have the meanings ascribed to those terms in Section 3(a) below.

 

(e)          
“Liabilities” shall mean judgments, damages, liabilities, losses,
penalties, excise taxes, fines and amounts paid in settlement.

 

(f)           
“Proceeding” shall mean any threatened, pending or completed claim,
action, suit, arbitration, alternate dispute resolution process, investigation,
inquiry, administrative hearing, appeal, or any other proceeding, whether
civil, criminal, administrative, arbitrative or investigative, whether formal
or informal, including a proceeding initiated by Indemnitee pursuant to Section
10 of this Agreement to enforce Indemnitee’s rights hereunder.

 

(g)          
“Subsidiary” shall mean any corporation, partnership, limited liability
company, joint venture, trust or other Entity of which the Company owns (either
directly or through or together with another Subsidiary of the Company) either
(i) a general partner, managing member or other similar interest or (ii) (A)
50% or more of the voting power of the voting capital equity interests of such
corporation, partnership, limited liability company, joint venture or other
Entity, or (B) 50% or more of the outstanding voting capital stock or other
voting equity interests of such corporation, partnership, limited liability
company, joint venture or other Entity.

 

2.            
Services of Indemnitee. 
In consideration of the Company’s covenants and commitments hereunder,
Indemnitee agrees to serve or continue to serve as a director of the Company
for so long as he or she is duly elected and qualified or until he or she
resigns in accordance with the Bylaws or applicable law.  This Agreement
shall not impose any obligation on Indemnitee or the Company to continue
Indemnitee’s service to the Company beyond any period otherwise required by law
or by other agreements or commitments of the parties, if any.

 

3.            
Agreement to Indemnify. 
The Company agrees to indemnify and hold harmless, to the fullest extent
permitted by the laws of the State of Delaware, Indemnitee as follows:

 

(a)          
Proceedings Other Than By or In the Right of the Company.  Subject
to the exceptions contained in Section 4(a) below, if Indemnitee was or is a
party or is threatened to be made a party to any Proceeding (other than an
action by or in the right of the Company) by reason of Indemnitee’s Corporate
Status, Indemnitee shall be indemnified by the Company against all Expenses and
Liabilities incurred or paid by Indemnitee in connection with such Proceeding
(referred to herein as “Indemnifiable Expenses” and “Indemnifiable
Liabilities,” respectively, and collectively as “Indemnifiable Amounts”).

 

2

 

(b)          
Proceedings By or In the Right of the Company.  Subject to the
exceptions contained in Section 4(b) below, if Indemnitee was or is a party or
is threatened to be made a party to any Proceeding by or in the right of the
Company by reason of Indemnitee’s Corporate Status, Indemnitee shall be
indemnified by the Company against all Indemnifiable Expenses.

 

(c)          
Conclusive Presumption Regarding Standard of Care.  In making any
determination required to be made under Delaware law with respect to
entitlement to indemnification hereunder, the person, persons or Entity making
such determination shall presume that Indemnitee is entitled to indemnification
under this Agreement if Indemnitee submitted a request therefor in accordance
with Section 5 of this Agreement, and the Company shall have the burden of
proof to overcome that presumption in connection with the making by any person,
persons. or Entity of any determination contrary to that presumption.

 

4.            
Exceptions to Indemnification.  Indemnitee shall be entitled to indemnification under Sections
3(a) and 3(b) above in all circumstances other than with respect to any
specific claim, issue or matter involved in the Proceeding out of which
Indemnitee’s claim for indemnification has arisen, as follows:

 

(a)          
Proceedings Other Than By or In the Right of the Company.  If
indemnification is requested under Section 3(a) and it has been finally
adjudicated by a court of competent jurisdiction that, in connection with such
specific claim, issue or matter, Indemnitee failed to act (i) in good faith and
(ii) in a manner Indemnitee reasonably believed to be in or not opposed to the
best interests of the Company, or, with respect to any criminal action or
proceeding, Indemnitee had reasonable cause to believe that Indemnitee’s
conduct was unlawful, Indemnitee shall not be entitled to payment of
Indemnifiable Amounts hereunder.

 

(b)          
Proceedings By or In the Right of the Company.  If indemnification
is requested under Section 3(b) and:

 

(i)           
it has been finally adjudicated by a court of competent jurisdiction that, in
connection with such specific claim, issue or matter, Indemnitee failed to act
(A) in good faith and (B) in a manner Indemnitee reasonably believed to be in
or not opposed to the best interests of the Company, Indemnitee shall not be
entitled to payment of Indemnifiable Expenses hereunder; or

 

(ii)          
it has been finally adjudicated by a court of competent jurisdiction that
Indemnitee is liable to the Company with respect to such specific claim, no
Indemnifiable Expenses shall be paid with respect to such claim, issue or
matter unless the Court of Chancery or another court in which such Proceeding
was brought shall determine upon application that, despite the adjudication of
liability, but in view of all the circumstances of the case, Indemnitee is fairly
and reasonably entitled to indemnification for such Indemnifiable Expenses
which such court shall deem proper; or

 

(iii)         
it has been finally adjudicated by a court of competent jurisdiction that
Indemnitee is liable to the Company for an accounting of profits made from the
purchase or sale by the Indemnitee of securities of the Company pursuant to the
provisions of Section 16 of the Securities Exchange Act of 1934, the rules and
regulations promulgated thereunder and

 

3

 

amendments thereto or
similar provisions of any federal, state or local statutory law, Indemnitee
shall not be entitled to payment of Indemnifiable Expenses hereunder.

 

(c)          
Insurance Proceeds.  To the extent payment is actually made to the
Indemnitee under a valid and collectible insurance policy in respect of
Indemnifable Expenses in connection with such specific claim, issue or matter,
Indemnitee shall not be entitled to payment of Indemnifiable Expenses hereunder
except in respect of any excess beyond the amount of payment under such
insurance.

 

5.            
Procedure for Payment of Indemnifiable Amounts.  Indemnitee shall submit to the
Company a written request specifying the Indemnifiable Amounts for which Indemnitee
seeks payment under Section 3 of this Agreement and the basis for the
claim.  The Company shall pay such Indemnifiable Amounts to Indemnitee
within sixty (60) calendar days of receipt of the request. At the request of
the Company, Indemnitee shall furnish such documentation and information as are
reasonably available to Indemnitee and necessary to establish that Indemnitee
is entitled to indemnification hereunder.

 

6.            
Indemnification for Expenses of a Party Who is Wholly or Partly Successful.  Notwithstanding any other provision
of this Agreement, and without limiting any such provision, to the extent that
Indemnitee is, by reason of Indemnitee’s Corporate Status, a party to and is
successful, on the merits or otherwise, in any Proceeding, Indemnitee shall be
indemnified against all Expenses reasonably incurred by Indemnitee or on
Indemnitee’s behalf in connection therewith.  If Indemnitee is not wholly
successful in such Proceeding but is successful, on the merits or otherwise, as
to one or more but less than all claims, issues or matters in such Proceeding,
the Company shall indemnify Indemnitee against all Expenses reasonably incurred
by Indemnitee or on Indemnitee’s behalf in connection with each successfully
resolved claim, issue or matter.  For purposes of this Agreement, the
termination of any claim, issue or matter in such a Proceeding by dismissal,
with or without prejudice, by reason of settlement, judgment, order or
otherwise, shall be deemed to be a successful result as to such claim, issue or
matter.

 

7.            
Effect of Certain Resolutions.  Neither the settlement or termination of any Proceeding nor the
failure of the Company to award indemnification or to determine that
indemnification is payable shall create a presumption that Indemnitee is not
entitled to indemnification hereunder.  In addition, the termination of
any proceeding by judgment, order, settlement, conviction, or upon a plea of
nolo contendere or its equivalent shall not create a presumption that Indemnitee
did not act in good faith and in a manner which Indemnitee reasonably believed
to be in or not opposed to the best interests of the Company or, with respect
to any criminal action or proceeding, had reasonable cause to believe that
Indemnitee’s action was unlawful.

 

8.            
Agreement to Advance Expenses; Undertaking.  The Company shall advance all
Expenses incurred by or on behalf of Indemnitee in connection with any
Proceeding, including a Proceeding by or in the right of the Company, in which
Indemnitee is involved by reason of such Indemnitee’s Corporate Status within
five (5) business days after the receipt by the Company of a written statement
from Indemnitee requesting such advance or advances from time to time, whether
prior to or after final disposition of such Proceeding.  To the extent
required by Delaware law, Indemnitee hereby undertakes to repay, without
interest, any and all of the amount of Indemnifiable Expenses paid to
Indemnitee if it is finally determined by a court of

 

4

 

competent jurisdiction that
Indemnitee is not entitled under this Agreement to indemnification with respect
to such Expenses. This undertaking is an unlimited general obligation of
Indemnitee.

 

9.            
Procedure for Advance Payment of Expenses.  Indemnitee shall submit to the
Company a written request specifying the Indemnifiable Expenses for which
Indemnitee seeks an advancement under Section 8 of this Agreement, together
with documentation evidencing that Indemnitee has incurred such Indemnifiable
Expenses. Payment of Indemnifiable Expenses under Section 8 shall be made no
later than ten (10) calendar days after the Company’s receipt of such request.

 

10.         
Remedies of Indemnitee.

 

(a)          
Right to Petition Court.  In the event that Indemnitee makes a
request for payment of Indemnifiable Amounts under Sections 3 and 5 above or a
request for an advancement of Indemnifiable Expenses under Sections 8 and 9
above and the Company fails to make such payment or advancement in a timely
manner pursuant to the terms of this Agreement or in the event that the Company
or any other person takes or threatens to take any action to declare this
Agreement void or unenforceable, or institutes any litigation or other action
or proceeding designed to deny or to recover from the Indemnitee the benefits
provided or intended to be provided to the Indemnitee under this Agreement,
Indemnitee may petition the Court of Chancery to enforce the Company’s
obligations under this Agreement and the Company irrevocably authorizes the
Indemnitee from time to time to retain counsel of Indemnitee’s choice, at the
expense of the Company as hereafter provided, to advise and represent the
Indemnitee in connection with any such interpretation,-enforcement or defense,
including without limitation, the initiation or defense of any litigation or
other legal action, whether brought by or against the Company or any director,
officer, stockholder or other person affiliated with the Company, in any
jurisdiction.  Notwithstanding any existing or prior attorney-client
relationship between the Company and such counsel, the Company irrevocably
consents to the Indemnitee’s entering into an attorney-client relationship with
such counsel, and in connection therewith, the Company and the Indemnitee agree
that a confidential relationship shall exist between the Indemnitee and such
counsel.

 

(b)          
Burden of Proof.  In any judicial proceeding brought under Section
10(a) above, the Company shall have the burden of proving that Indemnitee is
not entitled to payment of Indemnifiable Amounts hereunder.

 

(c)          
Expenses.  The Company agrees to reimburse Indemnitee in full for
any Expenses incurred by Indemnitee in connection with investigating, preparing
for, litigating, defending or settling any action brought by Indemnitee under
Section 10(a) above, or in connection with any claim or counterclaim brought by
the Company in connection therewith, whether or not Indemnitee is successful in
whole or in part in connection with any such action.

 

(d)          
Failure to Act Not a Defense.  The failure of the Company
(including its Board of Directors or any committee thereof, independent legal
counsel, or stockholders) to make a determination concerning the permissibility
of the payment of Indemnifiable Amounts or the advancement of Indemnifiable
Expenses under this Agreement shall not be a defense in any

 

5

 

action brought under Section
10(a) above, and shall not create a presumption that such payment or
advancement is not permissible.

 

11.         
Defense of the Underlying Proceeding.

 

(a)          
Notice by Indemnitee.  Indemnitee agrees to notify the Company
promptly upon being served with any summons, citation, subpoena, complaint,
indictment, information, or other document relating to any Proceeding which may
result in the payment of Indemnifiable Amounts or the advancement of
Indemnifiable Expenses hereunder; provided, however, that the failure to
give any such notice shall not disqualify Indemnitee from the right, or
otherwise affect in any manner any right of Indemnitee, to receive payments of
Indemnifable Amounts or advancements of Indemnifiable Expenses unless the
Company’s ability to defend in such Proceeding is materially and adversely
prejudiced thereby.

 

(b)          
Defense by Company.  Subject to the provisions of the last sentence
of this Section 11(b) and of Section 11(c) below, the Company shall have the
right to defend Indemnitee in any Proceeding which may give rise to the payment
of Indemnifiable Amounts hereunder; provided, however, that the Company
shall notify Indemnitee of any such decision to defend within ten (10) calendar
days of receipt of notice of any such Proceeding under Section 11(a)
above.  The Company shall not, without the prior written consent of
Indemnitee, consent to the entry of any judgment against Indemnitee or enter
into any settlement or compromise which (i) includes an admission of fault
of Indemnitee or (ii) does not include, as an unconditional term thereof, the
full release of Indemnitee from all liability in respect of such Proceeding,
which release shall be in form and substance reasonably satisfactory to
Indemnitee.  This Section 11(b) shall not apply to a Proceeding brought by
Indemnitee under Section 10(a) above or pursuant to Section 18 below.

 

(c)          
Indemnitee’s Right to Counsel.  Notwithstanding the provisions of
Section 11(b) above, if in a Proceeding to which Indemnitee is a party by
reason of Indemnitee’s Corporate Status, (i) Indemnitee reasonably concludes
that he or she may have separate defenses or counterclaims to assert with
respect to any issue which may not be consistent with the position of other
defendants in such Proceeding, (ii) a conflict of interest or potential
conflict of interest exists between Indemnitee and the Company (including an
actual or potential conflict between the Indemnitee and the counsel selected by
the Company), (iii) if the Company fails to assume the defense of such
proceeding in a timely manner, or (iv) any such representation by the Company
fails to meet any applicable standards of professional conduct then prevailing,
Indemnitee shall be entitled to be represented by separate legal counsel of
Indemnitee’s choice at the expense of the Company.  In addition, if the
Company fails to comply with any of its obligations under this Agreement or in
the event that the Company or any other person takes any action to declare this
Agreement void or unenforceable, or institutes any action, suit or proceeding
to deny or to recover from Indemnitee the benefits intended to be provided to
Indemnitee hereunder, Indemnitee shall have the right to retain counsel of
Indemnitee’s choice, at the expense of the Company, to represent Indemnitee in
connection with any such matter.

 

12.         
Representations and Warranties of the Company.  The Company hereby represents and
warrants to Indemnitee as follows:

 

6

 

(a)          
Authority.  The Company has all necessary power and authority to
enter into, and be bound by the terms of, this Agreement, and the execution,
delivery and performance of the undertakings contemplated by this Agreement
have been duly authorized by the Company.

 

(b)          
Enforceability.  This Agreement, when executed and delivered by the
Company in accordance with the provisions hereof, shall be a legal, valid and
binding obligation of the Company, enforceable against the Company in
accordance with its terms, except as such enforceability may be limited by
applicable bankruptcy, insolvency, moratorium, reorganization or similar laws
affecting the enforcement of creditors’ rights generally.

 

13.         
Contract Rights Not Exclusive.  The rights to payment of Indemnifiable Amounts and advancement
of Indemnifiable Expenses provided by this Agreement shall be in addition to,
but not exclusive of, any other rights which Indemnitee may have at any time
under applicable law, the Company’s Certificate or Bylaws or any other
agreement, vote of stockholders or directors (or a committee of directors), or
otherwise (collectively, “Other Indemnity Provisions”), both as to
action in Indemnitee’s official capacity and as to action in any other capacity
as a result of Indemnitee’s serving as a director of the Company; provided,
however, that (i) to the extent that Indemnitee otherwise would have any
greater right to indemnification under any Other Indemnity Provision,
Indemnitee will be deemed to have such greater right hereunder and (ii) to the
extent that any change is made to any Other Indemnity Provision which permits
any greater right to indemnification than that provided under this Agreement as
of the date hereof, Indemnitee will be deemed to have such greater right hereunder. 
The Company shall not adopt any amendment to either the Certificate or the
By-laws the effect of which would be to deny, diminish or encumber Indemnitee’s
right to indemnification under this Agreement or any Other Indemnity Provision.

 

14.          Successors.  This Agreement shall be (a) binding
upon all successors and assigns of the Company (including, without limitation,
any transferee of all or a substantial portion of the business, stock and/or
assets of the Company and any direct or indirect successor by merger or
consolidation or otherwise by operation of law) and (b) binding on and shall
inure to the benefit of the heirs, personal representatives, executors and
administrators of Indemnitee.  This Agreement shall continue for the
benefit of Indemnitee and such heirs, personal representatives, executors and
administrators after Indemnitee has ceased to have Corporate Status.

 

15.         
Subrogation.  In
the event of any payment of Indemnifiable Amounts under this Agreement, the
Company shall be subrogated to the extent of such payment to all of the rights
of contribution or recovery of Indemnitee against other persons, and Indemnitee
shall take, at the request of the Company, all reasonable action necessary to
secure such rights, including the execution of such documents as are necessary
to enable the Company to bring suit to enforce such rights.

 

16.         
Change in Law. 
To the extent that a change in Delaware law (whether by statute or judicial
decision) shall permit broader indemnification or advancement of expenses than
is provided under the terms of the Bylaws and this Agreement, Indemnitee shall
be entitled to such broader indemnification and advancements, and this
Agreement shall be deemed to be amended to such extent.

 

7

 

17.         
Severability. 
Whenever possible, each provision of this Agreement shall be interpreted in
such a manner as to be effective and valid under applicable law, but if any
provision of this Agreement, or any clause thereof, shall be determined by a
court of competent jurisdiction to be illegal, invalid or unenforceable, in
whole or in part, such provision or clause shall be limited or modified in its
application to the minimum extent necessary to make such provision or clause
valid, legal and enforceable, and the remaining provisions and clauses of this
Agreement shall remain fully enforceable and binding on the parties.

 

18.         
Indemnitee as Plaintiff. 
Except as provided in Section 10(c) of this Agreement and in the next sentence,
Indemnitee shall not be entitled to payment of Indemnifiable Amounts or
advancement of Indemnifiable Expenses with respect to any Proceeding brought by
Indemnitee against the Company, any Entity which it controls, any director or
officer thereof, or any third party, unless the Board of Directors of the
Company has consented to the initiation of such Proceeding. This Section shall
not apply to counterclaims or affirmative defenses asserted by Indemnitee in an
action brought against Indemnitee.

 

19.         
Modifications and Waiver. 
Except as provided in Section 16 above with respect to changes in Delaware law
which broaden the right of Indemnitee to be indemnified by the Company, no
supplement, modification or amendment of this Agreement shall be binding unless
executed in writing by each of the parties hereto. No waiver of any of the
provisions of this Agreement shall be deemed or shall constitute a waiver of
any other provisions of this Agreement (whether or not similar), nor shall such
waiver constitute a continuing waiver.

 

20.         
General Notices. 
All notices, requests, demands and other communications hereunder shall be in
writing and shall be deemed to have been duly given (a) when delivered by hand,
(b) when transmitted by facsimile and receipt is acknowledged, or (c) if
mailed by certified or registered mail with postage prepaid, on the third
business day after the date on which it is so mailed:

 

(i)           
If to Indemnitee, to:

 

At his home address as shown
on the signature page to this Agreement

 

(ii)          
If to the Company, to:

 

[Newco], Inc.

 

[Address]

 

or to such other address as
may have been furnished in the same manner by any party to the others.

 

21.         
Governing Law; Consent to Jurisdiction; Service of Process.  This Agreement shall be governed by
and construed in accordance with the laws of the State of Delaware without
regard to its rules of conflict of laws.  Each of the Company and the
Indemnitee hereby irrevocably and unconditionally consents to submit to the
exclusive jurisdiction of the Court of Chancery of the State of Delaware and
the courts of the United States of America located in the State of Delaware
(the “Delaware Courts”) for any litigation arising out of or relating to
this

 

8

 

Agreement and the
transactions contemplated hereby (and agrees not to commence any litigation
relating thereto except in such courts), waives any objection to the laying of
venue of any such litigation in the Delaware Courts and agrees not to plead or
claim in any Delaware Court that such litigation brought therein has been
brought in an inconvenient forum.  Each of the parties hereto agrees, (a)
to the extent such party is not otherwise subject to service of process in the
State of Delaware, to appoint and maintain an agent in the State of Delaware as
such party’s agent for acceptance of legal process, and (b) that service of
process may also be made on such party by prepaid certified mail with a proof
of mailing receipt validated by the United States Postal Service constituting
evidence of valid service.  Service made pursuant to (a) or (b) above
shall have the same legal force and effect as if served upon such party
personally within the State of Delaware. For purposes of implementing the
parties’ agreement to appoint and maintain an agent for service of process in
the State of Delaware, each such party does hereby appoint The Corporation
Trust Company, 1209 Orange Street, Wilmington, New Castle County, Delaware
19801, as such agent and each such party hereby agrees to complete all actions
necessary for such appointment.

 

[Signature Page Follows]

 

9

 

IN WITNESS WHEREOF, the
parties hereto have executed this Agreement as of the day and year first above
written.

 

	
   

  	
  [NEWCO], INC: 

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
  Name:

  
	
   

  	
  Title:

  
	
   

  	
   

  
	
   

  	
  INDEMNITEE:

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  [Director]

  
	
   

  	
  Address:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

10

 

Schedule A

 

List of Investors and Principal Stockholders

 

[List of Investors and
Principal Stockholders has been omitted. A copy of this schedule will be
furnished supplementally to the Commission upon request.]  

 

11

 

Schedule B

 

Wire Transfer Instructions

 

[Wire Transfer Instructions
has been omitted. A copy of this schedule will be furnished supplementally to
the Commission upon request.]

 

12

 

Disclosure Schedules

 

[Disclosure Schedules have
been omitted. A copy of these schedules will be furnished supplementally to the
Commission upon request.]

 

13

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