Document:

Exhibit 10.28

 

CCCI HOLDINGS, INC.

300 West Sixth Street

Suite 2300

Austin, Texas 78701

 

October  30,
2006

 

Austin
Ventures VIII, L.P.

Austin
Ventures IX, L.P.

300 West Sixth Street

Suite
2300

Austin, Texas 78701

 

Re:                   Management Rights 

 

Gentlemen:

 

This letter will confirm our agreement that pursuant to and effective as
of your purchase of Series A Convertible Redeemable Preferred Stock (the “Preferred Stock”)  of CCCI Holdings, Inc., a Delaware
corporation (the “Company”),  each
of Austin Ventures VIII, L.P. and Austin Ventures IX, L.P. (each, “Investor”),  shall be entitled, so long as Investor
holds (beneficially or otherwise) any shares of the Company’s Preferred Stock
or common stock issued upon conversion of the Preferred Stock, to the following
contractual management rights, in addition to any rights to non-public
financial information, inspection rights, and other rights specifically
provided to all investors in the financing agreements delivered in connection
with the sale of the Preferred Stock, as amended, and as otherwise required by
law:

 

1.                           Investor shall be entitled to consult with and
advise management of the Company on significant business issues, including
management’s proposed annual operating plans, and management will meet with you
regularly during each year at the Company’s facilities at mutually agreeable
times for such consultation and advice and to review progress in achieving said
plans.

 

2.                           Investor may examine the books and records of
the Company and inspect its facilities and may request information at
reasonable times and intervals concerning the general status of the Company’s
financial condition and operations, provided that access to highly confidential
proprietary information and facilities need not be provided.

 

3.                           If Investor is not represented on the Company’s
Board of Directors (the “Board”),  the Company shall invite a representative
of Investor to attend all meetings of the Board in a non-voting observer
capacity and, in this respect, shall give such representative of Investor
copies of all notices, minutes, consents and other material that the Company
provides to its directors, provided that such representative shall hold in
confidence and trust and act in a fiduciary manner with respect to all
information received and that the representative may be excluded from access to
any material or meeting or portion thereof if the Company believes, upon advice
of counsel, that such exclusion is reasonably necessary to preserve the
attorney-client privilege, to protect highly confidential proprietary
information, or for other similar reasons. Upon reasonable notice and at a
scheduled meeting of the Board or such other time, if any, as the Board may
determine in its sole discretion, such representative may address the Board
with respect to Investor’s concerns regarding significant business issues
facing the Company.

 

 

4.                           Each Investor agrees, and any representative
of Investor will agree, to hold in confidence and trust and not use or disclose
any confidential information provided to or learned by it in connection with
its rights under this letter.

 

The rights described herein shall terminate and be of no further force
or effect upon the consummation of the sale of the Company’s securities
pursuant to a registration statement filed by the Company under the Securities
Act of 1933 in connection with the firm commitment underwritten offering of its
securities to the general public. The confidentiality provisions hereof will
survive any such termination.

 

Signature
Pages Follow.

 

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  CCCI HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
     /s/
  Elisabeth DeMarse

  	
   

  
	
   

  	
   

  	
  Elisabeth DeMarse

  	
   

  
	
   

  	
   

  	
  Chief Executive Officer

  	
   

  

 

 

AGREED TO AND ACCEPTED THIS 30 DAY OF OCTOBER, 2006:

 

 

	
  AUSTIN
  VENTURES VIII, L.P.

  	
   

  
	
   

  	
   

  
	
  By:

  	
  AV
  Partners VIII, L.P.,

  	
   

  
	
   

  	
  Its
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ Kenneth P.
  DeAngelis

  	
   

  	
   

  
	
   

  	
  Kenneth P. DeAngelis

  	
   

  
	
   

  	
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  300 West Sixth Street

  	
   

  
	
   

  	
  Suite 2300

  	
   

  
	
   

  	
  Austin, Texas 78701

  	
   

  
				

 

 

	
  AUSTIN
  VENTURES IX, L.P.

  	
   

  
	
   

  	
   

  
	
  By:

  	
  AV
  Partners IX, L.P.,

  	
   

  
	
   

  	
  Its
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ Kenneth P.
  DeAngelis

  	
   

  	
   

  
	
   

  	
  Kenneth P. DeAngelis

  	
   

  
	
   

  	
  General Partner

  	
   

  
	
   

  	
   

  	
   

  
	
  Address:

  	
  300 West Sixth Street

  	
   

  
	
   

  	
  Suite 2300

  	
   

  
	
   

  	
  Austin, Texas 78701

  	
   

  
				

 

 

Signature Page to CCCI, Holdings, Inc. Management
Rights LetterExhibit 10.29

 

CCCI HOLDINGS, INC.

300 West Sixth Street

Suite 2300

Austin, Texas 78701

 

October 30, 2006

 

American
Capital Equity I, LLC

2 Bethesda Metro Center, 14th Floor

Bethesda, MD 20814

 

Re:
                Management Rights

 

Gentlemen:

 

This letter will confirm our agreement that pursuant to and effective as
of your purchase of Series A Convertible Redeemable Preferred Stock (the “Preferred Stock”) of CCCI Holdings, Inc., a Delaware
corporation (the “Company”), American
Capital Equity I, LLC (“Investor”), shall be entitled, so long as Investor
holds (beneficially or otherwise) any shares of the Company’s Preferred Stock
or common stock or Series B Redeemable Preferred Stock issued upon conversion
of the Preferred Stock, to the following contractual management rights, in
addition to any rights to non-public financial information, inspection rights,
and other rights specifically provided to all investors in the financing
agreements delivered in connection with the sale of the Preferred Stock, as
amended, and as otherwise required by law:

 

1.                           Investor shall be entitled to consult with and
advise management of the Company on significant business issues, including
management’s proposed annual operating plans, and management will meet with you
regularly during each year at the Company’s facilities at mutually agreeable
times for such consultation and advice and to review progress in achieving said
plans.

 

2.                           Investor may examine the books and records of
the Company and inspect its facilities and may request information at reasonable
times and intervals concerning the general status of the Company’s financial
condition and operations, provided that access to highly confidential
proprietary information and facilities need not be provided. Without limiting
the generality of the foregoing, subject to Section 2.8 of that certain
Investors’ Rights Agreement of even date herewith by and among the Company and
each of the holders of the Company’s capital stock listed on the Schedule of
Investors thereto (the “IRA”), Investor shall be entitled to receive the financial
statements and other information provided by the Company pursuant to Section
2.1 and 2.2 of the IRA; provided, however, that such right shall be subject to
any waiver or consent relating thereto then in effect under the IRA; provided,
further, however, that no amendment, waiver or consent under the IRA shall
eliminate, reduce, decrease or otherwise adversely affect the right of Investor
to receive such information (including, without limitation, any amendment,
waiver or consent to the IRA or the Company’s Amended and Restated Certificate
of Incorporation which would have the affect of shorting the term of, or
expanding the termination events applicable to, such rights under Section 2.8
of the IRA), other than an amendment, waiver or consent which extends the
required time period for delivery of any such financial statements or other
information by no more than thirty (30) days, will be binding on Investor
without Investor’s prior written consent.

 

3.                           If Investor is not represented on the Company’s
Board of Directors (the “Board”), the Company shall invite a
representative of Investor to attend all meetings of the Board in a non-voting
observer capacity and, in this respect, shall give such representative of
Investor copies of all

 

 

notices,
minutes, consents and other material that the Company provides to its
directors, provided that such representative shall hold in confidence and trust
and act in a fiduciary manner with respect to all information received and that
the representative may be excluded from access to any material or meeting or
portion thereof if the Company believes, upon advice of counsel, that such
exclusion is reasonably necessary to preserve the attorney-client privilege, to
protect highly confidential proprietary information, or for other similar
reasons. Upon reasonable notice and at a scheduled meeting of the Board or such
other time, if any, as the Board may determine in its sole discretion, such
representative may address the Board with respect to Investor’s concerns
regarding significant business issues facing the Company. The Company shall
reimburse Investor in connection with Investor’s exercise of its observation
rights contained herein; provided, however, that the Company shall not have an
obligation to reimburse Investor for such expenses in the event that (a)
Investors has and exercises a right to designate a member of the Board whose
expenses are reimbursed by the Company or (b) American Capital Strategies, Ltd.
sends a separate representative as an observer to the Board whose expenses are
reimbursed by the Company.

 

4.                           Investor agrees, and any representative of
Investor will agree, to hold in confidence and trust and not use or disclose
any confidential information provided to or learned by it in connection with
its rights under this letter.

 

Except to the extent the rights in paragraph 2 hereof may terminate as
of an earlier date in accordance with Section 2.8 of the IRA and the terms
hereof, the rights described herein shall terminate and be of no farther force
or effect upon the consummation of the sale of the Company’s securities
pursuant to a registration statement filed by the Company under the Securities
Act of 1933 in connection with the firm commitment underwritten offering of its
securities to the general public. The confidentiality provisions hereof will
survive any such termination.

 

[Signature Page Follows]

 

 

	
   

  	
  Very truly yours,

  
	
   

  	
   

  
	
   

  	
  CCCI
  HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   /s/ Elisabeth
  DeMarse

  	
   

  
	
   

  	
   

  	
  Elisabeth DeMarse

  	
   

  
	
   

  	
   

  	
  Chief Executive Officer

  	
   

  

 

 

AGREED
TO AND ACCEPTED THIS 30th DAY OF OCTOBER, 2006:

 

 

	
  American Capital Equity
  I, LLC

  	
   

  
	
   

  	
   

  
	
  By:

  	
     American
  Capital Equity Management, LLC,

  	
   

  
	
   

  	
     Its
  Manager

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ Kenneth L. Pollack

  	
   

  	
   

  
	
   

  	
     Name:

  	
  Kenneth L. Pollack

  	
   

  	
   

  
	
   

  	
     Title:

  	
  Vice President

  	
   

  	
   

  
	
   

  	
   

  
	
  Address:

  	
  2 Bethesda Metro
  Center, 14th Floor

  	
   

  
	
   

  	
  Bethesda, Maryland
  20814

  	
   

  

 

 

[Signature Page to CCCI Holdings
Management Rights Letter]

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