Document:

Exhibit 10.1

 

EXECUTION VERSION

 

SECURITIES PURCHASE AGREEMENT

 

DATED AS OF FEBRUARY 22, 2017

 

BY AND AMONG

 

INTERNAP CORPORATION

 

AND

 

THE PURCHASERS PARTY HERETO

 

     

     

    

 

TABLE OF CONTENTS

 

	ARTICLE I DEFINITIONS	1
	Section 1.1	Definitions	1
	 	 	 
	ARTICLE II PURCHASE AND SALE OF SHARES	4
	Section 2.1	Purchase and Sale of Shares	4
	Section 2.2	Closing	5
	Section 2.3	Closing Deliveries	5
	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES OF THE COMPANY	6
	Section 3.1	Subsidiaries	6
	Section 3.2	Organization and Power	6
	Section 3.3	Authorization; Enforcement	6
	Section 3.4	No Conflict	7
	Section 3.5	Government Approvals	7
	Section 3.6	Authorized and Outstanding Stock	8
	Section 3.7	SEC Documents; Financial Information	8
	Section 3.8	Material Changes; Undisclosed Events, Liabilities or Developments	9
	Section 3.9	Litigation	9
	Section 3.10	Compliance with Laws	9
	Section 3.11	Taxes	9
	Section 3.12	Intellectual Property	10
	Section 3.13	Contracts and Commitments	10
	Section 3.14	Employee Matters	10
	Section 3.15	Transactions with Affiliates	11
	Section 3.16	Insurance	11
	Section 3.17	Investment Company Act	11
	Section 3.18	Margin Regulations	11
	Section 3.19	NASDAQ	12
	Section 3.20	Issuance Exempt	12
	Section 3.21	No Integrated Offering	12
	Section 3.22	Internal Accounting and Disclosure Controls	12
	Section 3.23	Off Balance Sheet Arrangements	13
	Section 3.24	Transfer Taxes	13
	Section 3.25	Ownership of Property	13
	Section 3.26	Finders or Brokers	13
	Section 3.27	Material Non-Public Information	13
	Section 3.28	No Other Representations or Warranties	14
	 	 	 
	ARTICLE IV REPRESENTATIONS AND WARRANTIES OF THE PURCHASER	14
	Section 4.1	Organization and Power	14
	Section 4.2	Authorization; Enforcement	14
	Section 4.3	No Conflict	14
	Section 4.4	Government Approvals	15
	Section 4.5	Investment Representations	15
	Section 4.6	Finders or Brokers	16

 

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	Section 4.7	No Other Representations or Warranties	16
	 	 	 
	ARTICLE V COVENANTS OF THE PARTIES	16
	Section 5.1	Regulatory	16
	Section 5.2	Use of Proceeds	16
	Section 5.3	Purchaser Transaction Expenses	16
	Section 5.4	Placement Agent’s Fees	17
	Section 5.5	Further Assurances	17
	Section 5.6	Lock-up	17
	Section 5.7	Press Release	17
	 	 	 
	ARTICLE VI MISCELLANEOUS	18
	Section 6.1	Execution and Counterparts	18
	Section 6.2	Intentionally Omitted	18
	Section 6.3	Governing Law	18
	Section 6.4	Waiver of Jury Trial	18
	Section 6.5	Entire Agreement; No Third Party Beneficiary	18
	Section 6.6	Reliance by and Exculpation of Jefferies as Placement Agent	18
	Section 6.7	Notices	19
	Section 6.8	Successors and Assigns	20
	Section 6.9	Headings	20
	Section 6.10	Amendments and Waivers	20
	Section 6.11	Interpretation; Absence of Presumption	21
	Section 6.12	Severability	21
	Section 6.13	Enforcement	21
	Section 6.14	Remedies; Survival of Representations and Warranties	21

 

SCHEDULES

 

	Schedule 1	List of Purchasers

 

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SECURITIES PURCHASE AGREEMENT

 

This Securities Purchase
Agreement, dated as of February 22, 2017 (this “Agreement”), is by and among Internap Corporation, a Delaware
corporation (the “Company”), and the parties listed on Schedule 1 hereto as signing this Agreement on
behalf of the various purchasers hereunder (each a “Purchaser” and collectively, the “Purchasers”).

 

WHEREAS, the Purchasers
desire to purchase from the Company, and the Company desires to issue and sell to the Purchasers, an aggregate of 23,802,850 shares
(the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”)
at a price of US$1.81 per share, all in accordance with this Agreement; and

 

WHEREAS, the Shares are
being sold in a private placement, without registration under the Securities Act or any other applicable securities Laws, in reliance
on one or more exemptions from registration and other requirements thereunder.

 

In consideration of the
promises and the mutual representations, warranties, covenants and agreements contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1           Definitions.
For all purposes of this Agreement, the following terms shall have the following respective meanings:

 

“Affiliate”
of any Person means any other Person that directly, or indirectly through one or more intermediaries, controls, or is controlled
by, or is under common control with, such Person. The term “control” (including the terms “controlling,”
“controlled by” and “under common control with”) as used with respect to any Person means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through
the ownership of voting securities, by contract or otherwise.

 

“Agreement”
has the meaning set forth in the Preamble.

 

“Avenir”
means Avenir Corporation, on behalf of certain Persons for whose advisory accounts Avenir has investment discretion.

 

“Avenir Purchasers”
means the Persons for which Avenir has investment discretion over such Person’s advisory account who are purchasing Shares
pursuant to this Agreement, each of whom shall be a Purchaser for all purposes under this Agreement.

 

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

 

“Business Day”
means any day other than a Saturday, Sunday or holiday on which banks in New York City are required or permitted to be closed.

 

“By-Laws”
means the Company’s By-Laws, as amended.

 

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“Certificate of
Incorporation” means the Company’s Restated Certificate of Incorporation, as amended.

 

“Closing”
has the meaning set forth in Section 2.2.

 

“Closing Date”
has the meaning set forth in Section 2.2.

 

“Common Stock”
has the meaning set forth in the Recitals.

 

“Company”
has the meaning set forth in the Preamble.

 

“Company Related
Parties” means the Company’s Affiliates or any direct or indirect equity holders, members, managers, directors,
officers, employees, agents, or representatives of the Company or any of its Affiliates (other than the Company).

 

“Effect”
has the meaning set forth in definition of Material Adverse Effect.

 

“Engagement Letter”
has the meaning set forth in Section 6.6(c).

 

“ERISA”
means the Employee Retirement Income Security Act of 1974, as amended.

 

“ERISA Documents”
has the meaning set forth in Section 3.14.

 

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

 

“Existing Credit
Agreement” means the Credit Agreement dated as of November 26, 2013, by and among the Company, the lenders from time
to time party thereto and Jefferies Finance LLC, as administrative agent, as amended by the First Amendment to Credit Agreement
dated as of October 30, 2015, the Second Amendment to Credit Agreement dated as of April 12, 2016 and the Third Amendment to Credit
Agreement dated as of January 26, 2017.

 

“Financial Statements”
has the meaning set forth in Section 3.7.

 

“GAAP”
means generally accepted accounting principles as in effect in the United States.

 

“Governmental Entity”
means any national, federal, state, municipal, local, territorial, foreign or other government or any department, commission, board,
bureau, agency, regulatory authority or instrumentality thereof, or any court, judicial, administrative or arbitral body or public
or private tribunal.

 

“Intellectual Property
Rights” means all registered copyrights, copyright registrations and copyright applications, trademark registrations
and applications for registration, patents and patent applications, trademarks, service marks, service names, trade names, Internet
domain names and any other intellectual property rights or licenses that are used by the Company or its Subsidiaries in their businesses
as presently conducted, including all: (i) databases, computer programs and other computer software user interfaces, know-how,
trade secrets, customer lists,

 

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proprietary technology, processes
and formulae, source code, object code, algorithms, development tools, instructions and templates created by or on behalf of the
Company or its Subsidiaries; and (ii) inventions, trade dress, logos and designs created by or on behalf of the Company or any
of its Subsidiaries.

 

“Investment Company
Act” mean the Investment Company Act of 1940, as amended.

 

“Jefferies”
has the meaning set forth in Section 4.5(e).

 

“Law”
means any applicable federal, state, local, municipal, foreign or other law, statute, constitution, principle of common law, resolution,
ordinance, code, order, edict, decree, rule, regulation, ruling or other legally binding requirement issued, enacted, adopted,
promulgated, implemented or otherwise put into effect by or under the authority of any Governmental Entity.

 

“Lien”
means any mortgage, pledge, security interest or other encumbrance.

 

“Material Adverse
Effect” means any state of facts, change, event, violation, inaccuracy, effect, condition, circumstance, occurrence or
development (any such item, an “Effect”) that, individually or taken together with all other Effects that have
occurred prior to the date of determination of the occurrence of the Material Adverse Effect, (i) is materially adverse to the
business, operations, properties, results of operations, assets, liabilities or condition (including financial condition) of the
Company and its Subsidiaries, taken as a whole, or (ii) prevents the performance by the Company of any of its obligations under
this Agreement or any Related Agreement to which it is a party or the consummation of the transactions contemplated hereby or thereby;
provided, however, that none of the following shall constitute or shall be considered in determining whether there
has occurred a Material Adverse Effect: (x) changes in the national or world economy or financial markets as a whole or changes
in general economic conditions that affect the Company or its Subsidiaries, so long as such changes or conditions do not adversely
affect the Company and its Subsidiaries, taken as a whole, in a materially disproportionate manner relative to other similarly
situated participants in the industries or markets in which they operate; and (y) any change in Law or GAAP or interpretation thereof
after the date of this Agreement, so long as such changes do not adversely affect the Company and its Subsidiaries, taken as a
whole, in a materially disproportionate manner relative to other similarly situated participants in the industries or markets in
which they operate.

 

“NASDAQ”
means The NASDAQ Stock Market LLC (NASDAQ Global Market).

 

“Non-Avenir Purchasers”
means the Purchasers other than the Avenir Purchasers.

 

“Person”
means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, Governmental Entity or any other entity.

 

“Preferred Stock”
has the meaning set forth in Section 3.6(a).

 

“Purchaser”
has the meaning set forth in the Preamble.

 

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“Purchase Price”
has the meaning set forth in Section 2.1.

 

“Purchaser Related
Parties” means, with respect to any Purchaser, such Purchasers’ Affiliates or any direct or indirect equity holders,
members, managers, directors, officers, employees, agents, or representatives of such Purchaser or any of its Affiliates (other
than the Purchaser).

 

“Registration Rights
Agreement” means the Registration Rights Agreement to be entered into between the Company and the Purchasers.

 

“Related Agreements”
means, collectively, the Registration Rights Agreement and any other agreements, documents, certificates or instruments delivered
pursuant to this Agreement.

 

“SEC”
means the U.S. Securities and Exchange Commission.

 

“SEC Documents”
means all filings under the Securities Act or under Section 13 or 15(d) of the Exchange Act (including all financial statements,
amendments, exhibits and schedules thereto and the results of the Company’s operations and cash flow contained therein) filed
by the Company with, or furnished by the Company to, the SEC on or after January 1, 2015.

 

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

 

“Shares”
has the meaning set forth in the Recitals.

 

“Stock Plans”
means the Internap Corporation 2014 Stock Incentive Plan, 2005 Incentive Stock Plan as amended, 2000 Non-Officer Equity Incentive
Plan and 1999 Non-Employee Directors’ Stock Option Plan, as amended, and the equity award inducement grants made to Peter
D. Aquino upon his appointment as President and Chief Executive Officer of the Company.

 

“Subsidiary”
has the meaning set forth in Rule 1-02(x) of Regulation S-X promulgated by the SEC.

 

“Tax”
means all federal, state, local, foreign and other taxes, including income, gross receipts, franchise, property, sales, withholding,
payroll, use and employment taxes and custom duties, together with any interest or penalties thereon or other similar additions
to tax.

 

“Transfer Agent”
means American Stock Transfer & Trust Company, LLC.

 

“Transaction Expenses
Cap” means US$100,000.

 

ARTICLE II

PURCHASE AND SALE OF SHARES

 

Section 2.1           Purchase
and Sale of Shares. Subject to the terms and conditions set forth in this Agreement, at the Closing the Company agrees to
issue and sell the Shares to the Purchasers and the Purchasers agree, severally and not jointly, to purchase the Shares from the
Company at a price of US$1.81 per share for the aggregate purchase price of US$43,083,158.50 (the “Purchase

 

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Price”), as set
forth on Schedule 1 hereto; provided however that the obligations the Purchaser to purchase the Shares at the Closing are
subject to the satisfaction (or waiver of such condition by the Purchasers) at or prior to the Closing of the following conditions:

 

(a)          the
gross proceeds received by the Company for the Shares sold pursuant to this Agreement shall be no less than $40.0 million in the
aggregate;

 

(b)          the
Company shall deliver each of the items set forth in Section 2.3(b) hereof;

 

(c)          the
Common Stock shall have not been suspended from trading on NASDAQ; and

 

(d)          notice
of the issuance of the Shares shall have been delivered to NASDAQ.

 

Section 2.2           Closing.
The consummation of the purchase and sale of the Shares and other transactions contemplated hereby (the “Closing”)
shall take place (and shall be deemed to occur) electronically at 10:00 AM, New York City time on the third (3rd) business
day following the date of this Agreement, or at such other place and time as the parties may mutually agree; provided however
that if the Closing does not occur prior to the close of business on March 3, 2017, this Agreement shall automatically terminate
and be of no force and effect. The date on which the Closing occurs is referred to as the “Closing Date”.

 

Section 2.3           Closing
Deliveries. 

 

(a)          Deliveries
by the Purchaser. At the Closing, each Non-Avenir Purchaser shall deliver or cause to be delivered, and Avenir shall deliver
on behalf of the Avenir Purchasers, to the Company the following items:

 

(i)          the
Purchase Price by wire transfer of immediately available funds to an account previously designated in writing by the Company to
the Purchasers, in full satisfaction of its respective payment of the Purchase Price pursuant to Section 2.1;

 

(ii)         a
counterpart to the Registration Rights Agreement, executed on behalf of the Purchaser by a duly authorized signatory thereof; and

 

(iii)        such
information as may be required by the Transfer Agent in respect to the Purchaser in order to provide for the issuance of the applicable
Shares.

 

(b)          Deliveries
by the Company. At the Closing, the Company shall deliver or cause to be delivered to the Purchasers the following items:

 

(i)          certificates
evidencing the Shares or evidence from the Transfer Agent of the issuance of the respective Shares in such names as directed by
the Purchasers or their respective representatives on behalf of the Purchasers (including, in the case of the Avenir Purchasers,
by Avenir) by book entry on the stock ledger, as requested by the Purchasers, of the Company pursuant to Section 2.1;

 

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(ii)         a
good standing certificate of the Company from the Secretary of State of the State of Delaware dated not more than 7 days prior
to the Closing Date;

 

(iii)        a
certificate of an officer of the Company that the representations and warranties set forth in this Agreement are true and correct
as of the date of the Closing;

 

(iv)        a
certificate of the secretary or another authorized officer of the Company certifying that the Certificate of Incorporation, By-Laws
and the resolutions of the Board approving this Agreement are in full force and effect and to the incumbency of the officers of
the Company signing this Agreement; and

 

(v)         a
counterpart to the Registration Rights Agreement, executed on behalf of the Company by a duly authorized signatory thereof.

 

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents
and warrants to the Purchasers, as of the date of this Agreement (except to the extent made only as of a specified date, in which
case as of such date), except as set forth in the SEC Documents filed before the date of this Agreement (other than disclosures
in any “risk factors” or “forward looking statements” contained in the SEC Documents or any other disclosure
in the SEC Documents that is predictive or forward looking in nature), that:

 

Section 3.1           Subsidiaries.
The Company owns, directly or indirectly, all of the capital stock or other equity interests of each Subsidiary of the Company,
free and clear of all Liens, rights of first refusal, preemptive rights or other restrictions, and all of the issued and outstanding
shares of capital stock or other equity interests of such Subsidiaries are validly issued and are fully paid, non-assessable and
free of preemptive and similar rights to subscribe for or purchase securities.

 

Section 3.2           Organization
and Power. The Company is a corporation duly incorporated, validly existing and in good standing under the Laws of the state
of Delaware and has all requisite corporate power and authority to own its properties and to carry on its business as presently
conducted and as proposed to be conducted. Each of the Subsidiaries is a corporation or other entity duly incorporated or formed,
validly existing and in good standing under the Laws of the jurisdiction of its incorporation or formation and has all requisite
corporate or other entity power and authority to own its properties and to carry on its business as presently conducted and as
proposed to be conducted. Each of the Company and its Subsidiaries is duly licensed or qualified to do business as a foreign corporation
or other entity and is in good standing in each jurisdiction where the character of its property or the nature of the activities
presently conducted by it makes such qualification necessary, except where the failure to so qualify has not had and would not,
individually or in the aggregate, be reasonably expected to have a Material Adverse Effect.

 

Section 3.3           Authorization;
Enforcement. The Company has all necessary corporate power and authority and has taken all necessary corporate action required
for the due authorization, execution, delivery and performance by the Company of this Agreement and any other Related Agreement
to which it is a party and the completion by the Company of the transactions contemplated hereby and thereby and for the due authorization,
issuance, sale and delivery of the Shares. The Shares, when issued, sold, and delivered in accordance with the terms of this

 

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Agreement for the consideration
expressed herein, will be duly and validly issued, fully paid, and nonassessable, and will be free of restrictions on transfer
other than the transfer restrictions set forth in Section 4.5(b) of this Agreement and under applicable state and federal
securities Laws. The issuance of the Shares does not require any further corporate action and is not subject to any preemptive
right or rights of first refusal under the Certificate of Incorporation or any contract to which the Company is a party. This
Agreement has been duly executed and delivered by the Company, and each Related Agreement to which the Company is a party, when
executed and delivered by the Company, will be duly executed and delivered. Assuming due execution and delivery thereof by each
of the other parties thereto, this Agreement is, and each Related Agreement to which the Company is a party, when executed by
the Company will be, a 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 laws relating to bankruptcy, insolvency, reorganization, moratorium
or other similar legal requirements relating to or affecting creditors’ rights generally and except as such enforceability
is subject to general principles of equity (regardless of whether enforceability is considered in a proceeding in equity or at
law).

 

Section 3.4           No
Conflict. The authorization, execution, delivery and performance by the Company of this Agreement and the Related Agreements
to which it is a party, and the completion by the Company of the transactions contemplated hereby and thereby, including the issuance
of the Shares, do not and will not: (i) violate, conflict with or result in the breach of any provision of the Certificate of
Incorporation or By-Laws or violate any provision of Law applicable to the Company or its Subsidiaries or any of their respective
properties or assets; or (ii) with such exceptions as would not, individually or in the aggregate, be reasonably expected to have
a Material Adverse Effect, whether after the giving of notice or the lapse of time or both: (a) result in the creation of any
Lien upon any asset of the Company or its Subsidiaries or the suspension, revocation, material impairment, forfeiture or nonrenewal
of any franchise, permit, license or other right granted by a Governmental Entity to the Company or its Subsidiaries; or (b) violate
any of the terms of, constitute a breach of, or default under, or result in or permit the cancellation, termination or acceleration
of any bond, debenture, indenture, credit agreement, note or any other evidence of indebtedness, or any agreement, stock option
or other similar plan, lease, mortgage, deed of trust or other instrument (including any material contract of the Company of the
type described in the first sentence of Section 3.13) to which the Company or any of its Subsidiaries is a party, by which
the Company or any of its Subsidiaries is bound, or to which any of the properties or assets of the Company or any of its Subsidiaries
is subject.

 

Section 3.5           Government
Approvals. No consent, approval, license or authorization of, or designation, declaration or filing with, any Governmental
Entity is or will be required on the part of the Company in connection with the execution, delivery and performance by the Company
of this Agreement and the Related Agreements to which it is a party, or in connection with the issuance of the Shares, except
for: (i) those which have already been made or granted; (ii) the filing of a current report on Form 8-K with the SEC; (iii) filings
with applicable state securities commissions; (iv) those which due to their requirements can be made or obtained following the
Closing and which shall be so obtained; (v) post-Closing filings as may be required to be made with the SEC and with any state
or foreign blue sky or securities regulatory authority; and (vi) as would not, individually or in the aggregate, be reasonably
expected to have a Material Adverse Effect.

 

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Section 3.6           Authorized
and Outstanding Stock.

 

(a)          The
authorized capital stock of the Company consists of 120,000,000 shares of the Common Stock and 20,000,000 shares of Preferred Stock,
par value $0.001 per share (the “Preferred Stock”).

 

(b)          As
of February 17, 2017, the issued and outstanding capital stock of the Company consists of 57,216,361 shares of the Common Stock.
There are no outstanding shares of Preferred Stock. All of the issued and outstanding shares of capital stock of the Company are
duly and validly authorized and are validly issued, fully paid and non-assessable. The designations, powers, preferences, rights,
qualifications, limitations and restrictions in respect of each class or series of capital stock of the Company are as set forth
in the Certificate of Incorporation.

 

(c)          Except
with respect to options or other equity awards pursuant to the Stock Plans: (i) no subscription, warrant, option, convertible security
or other right issued by the Company to purchase or acquire any shares of capital stock of the Company is authorized or outstanding;
(ii) there is no option, warrant, call, right, commitment or agreement of any character to which the Company is a party or by which
the Company is bound or obligating the Company to issue, deliver, sell, repurchase or redeem, or cause to be issued, delivered,
sold, repurchased or redeemed, any shares of the capital stock of the Company or obligating the Company to grant, extend or enter
into any such option, warrant, call, right, commitment or agreement or to issue or distribute to holders of any shares of its capital
stock any evidences of indebtedness or assets of the Company; (iii) the Company has no obligation to pay any dividend or make any
other distribution in respect of its capital stock; and (iv) there are no agreements between the Company and any holder of its
capital stock relating to the acquisition, disposition or voting of the capital stock of the Company, except for this Agreement
and the Company has not entered into any agreement with any Purchaser in connection with the offer or sale of the Common Stock
other than this Agreement. No Person is entitled to any preemptive right or right of first refusal granted by the Company with
respect to the issuance of any capital stock of the Company and the issuance of the Shares issuable hereunder will not trigger
any anti-dilution or similar right that has not been properly waived.

 

Section 3.7           SEC
Documents; Financial Information. The Company has timely filed all SEC Documents required to be filed by the Company with
the SEC pursuant to the Exchange Act and the Securities Act since January 1, 2014. As of their respective filing dates (or, if
amended or superseded by a filing prior to the date of this Agreement, on the date of such amended or superseded filing), the
SEC Documents complied in all material respects with the requirements of the Securities Act, the Exchange Act and the rules and
regulations of the SEC thereunder applicable to such SEC Documents, and as of their respective dates none of the SEC Documents
contained any untrue statement of a material fact or omitted to state a material fact required to be stated therein or necessary
in order to make the statements therein, in light of the circumstances under which they were made, not misleading. The consolidated
financial statements of the Company included in the SEC Documents (including all related notes and schedules, where applicable)
(the “Financial Statements”) fairly present in all material respects the consolidated financial position of
the Company and its consolidated Subsidiaries, as at the respective dates thereof, and their consolidated results of operations
and consolidated cash flows for the respective periods then

 

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ended (subject, in the
case of the unaudited quarterly financial statements filed on Form 10-Q, to notes and normal year-end audit adjustments and to
any other adjustments described therein, as permitted by the SEC on Form 10-Q) in accordance with GAAP applied on a consistent
basis during the periods involved (except as may be indicated therein or in the notes thereto or, in the case of unaudited interim
financial statements, as permitted by the SEC on Form 10-Q).

 

Section 3.8           Material
Changes; Undisclosed Events, Liabilities or Developments. Since the date of the latest unaudited Financial Statements filed
with the SEC until the date of this Agreement, except as specifically disclosed in a subsequent SEC Document (other than disclosures
in any “risk factors” or “forward looking statements” contained therein or any other disclosure that is
predictive or forward-looking in nature) filed prior to the date hereof: (i) there has been no event, occurrence or development
that has had or that would be reasonably expected to have a Material Adverse Effect; (ii) neither the Company nor any of its Subsidiaries
has incurred any liability (contingent or otherwise) other than liabilities (a) incurred in the ordinary course of business consistent
with past practice, (b) reflected or reserved against in the most recent balance sheet included in the SEC Documents, (c) which
have been discharged or paid in full prior to the date of this Agreement or (d) incurred pursuant to the transactions contemplated
by this Agreement; and (iii) the Company has not declared or made any dividend or distribution of cash or other property to its
stockholders or purchased, redeemed or made any agreement to purchase or redeem any shares of its capital stock.

 

Section 3.9           Litigation.
As of the date of this Agreement, there is no litigation, action, suit, investigation or governmental proceeding pending or, to
the knowledge of the Company, threatened, against the Company or its Subsidiaries or affecting any of the properties or assets
of the Company or its Subsidiaries that would, individually or in the aggregate, be reasonably expected to have a Material Adverse
Effect. Neither the Company nor its Subsidiaries is in default with respect to any order, writ, injunction, decree, ruling or
decision of any Governmental Entity that is expressly applicable to the Company or its Subsidiaries or any of the properties or
assets of the Company and its Subsidiaries, except in each case as would not, individually or in the aggregate, be reasonably
expected to have a Material Adverse Effect.

 

Section 3.10         Compliance
with Laws. The business of the Company and its Subsidiaries is not being conducted in violation of any Law, ordinance or regulation
of any Governmental Entity, except for violations as would not, individually or in the aggregate, be reasonably expected to have
a Material Adverse Effect. Neither the Company nor any Subsidiary has received notification from any Governmental Entity (a) asserting
a violation of any Law, statute, ordinance or regulation or the terms of any judgments, orders, decrees, injunctions or writs
applicable to the conduct of its business, (b) threatening to revoke any license, franchise, permit or government authorization,
or (c) restricting or in any way limiting its operations as currently conducted or proposed to be conducted, except in each case
as would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect.

 

Section 3.11         Taxes.
The Company and its Subsidiaries: (i) have filed all Tax returns required to be filed within the applicable periods for such filings
(with due regard to any extension); (ii) have paid all Taxes and other governmental assessments required to be paid; and (iii)
have reserved in the Financial Statements an amount adequate for the payment of all Taxes for periods subsequent to the periods
to which such returns, reports or declarations apply, except

 

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in the case of clauses (i) and (ii) with respect to matters contested
in good faith and for which adequate reserves have been established in accordance with GAAP.

 

Section 3.12         Intellectual
Property. All Intellectual Property Rights purported to be owned by the Company or its Subsidiaries or otherwise are owned
free and clear by the Company or its Subsidiaries (as the case may be) by operation of Law or have been validly assigned to the
Company or its Subsidiaries (as the case may be) other than those Intellectual Property Rights where the failure to own or assign
such rights would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect. The Intellectual
Property Rights are sufficient in all material respects to carry on the business of the Company and its Subsidiaries as presently
conducted and as proposed to be conducted and the Company has taken commercially reasonable security measures to protect the secrecy,
confidentiality and value of all of its material Intellectual Property Rights. To the knowledge of the Company, with such exceptions
as would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect, the Intellectual Property
Rights purported to be owned by the Company or its Subsidiaries do not infringe the intellectual property rights of any third party.
Neither the Company nor any of its Subsidiaries has received any written notice or other written claim from any third party: (i)
asserting that any of the Intellectual Property Rights purported to be owned by the Company or any of its Subsidiaries infringe
any intellectual property rights of such third party; (ii) challenging the validity, effectiveness or ownership by the Company
or any of its Subsidiaries of any of the Intellectual Property Rights; or (iii) asserting that the Company or any of its Subsidiaries
is in material default with respect to any license granting Intellectual Property Rights to the Company or its Subsidiaries other
than, in each such case, if the assertion, challenge or allegation in any such notice or claim were accurate or true, would not,
individually or in the aggregate, be reasonably expected to have a Material Adverse Effect. The Company has no knowledge of any
material infringement or improper use by any third party of any of the Intellectual Property Rights, other than any such infringement
or improper use as would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect.

 

Section 3.13         Contracts
and Commitments. All of the material contracts (as such term is defined in Item 601(b)(10) of Regulation S-K of the SEC) of
the Company or its Subsidiaries in effect on the date of this Agreement that are required to be described in the SEC Documents,
or to be filed as exhibits thereto, have been so described or filed and are in full force and effect and, to the knowledge of the
Company, upon completion of the transactions contemplated by this Agreement and the Related Agreements, will continue in full force
and effect, without penalty or adverse consequence. Neither the Company nor its Subsidiaries nor, to the knowledge of the Company,
any other party is in breach of or in default under any such contract, other than, in each such case, as would not, individually
or in the aggregate, be reasonably expected to have a Material Adverse Effect.

 

Section 3.14         Employee
Matters. Except as would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect, the
Company has described in, or filed as an exhibit to, the SEC Documents filed prior to the date of this Agreement all of the following
types of documents, agreements, plans or arrangements that are required by federal securities laws to be described in, or filed
as an exhibit to, the SEC Documents: employment agreements, consulting agreements, deferred compensation, pension or retirement
agreements or arrangements (including all “employee pension benefit plans” as defined in Section 3(2) of ERISA, bonus,

 

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incentive or profit-sharing plans or arrangements, or labor or collective
bargaining agreements in effect of the Company and its Subsidiaries) (the “ERISA Documents”). Except for any
compliance failures as would not, individually or in the aggregate, be reasonably expected to have a Material Adverse Effect: (i)
the Company and its Subsidiaries are 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; and (ii) each ERISA Document
has been administered in compliance with its terms and all applicable requirements of ERISA. To the Company’s knowledge,
none of the Company’s or its Subsidiaries’ employees are obligated under any contract (including licenses, covenants
or commitments of any nature) or other agreement, or subject to any judgment, decree or order of any court or administrative agency,
that would interfere with his or her employment obligations to the Company or its Subsidiaries or that would conflict with the
Company’s and its Subsidiaries’ business as now conducted or proposed to be conducted, except for such contracts and
other agreements, judgments, decrees and orders as would not, individually or in the aggregate, be reasonably expected to have
a Material Adverse Effect. The Company is not a party to any collective bargaining agreement.

 

Section 3.15         Transactions
with Affiliates. Except for compensation arrangements with respect to which all required disclosures have been made in the
SEC Documents, since January 1, 2016, there have been no loans, leases or other agreements, understandings or continuing transactions
between the Company or its Subsidiaries, on the one hand, and any officer or director of the Company or its Subsidiaries or any
Person that the Company believes is the owner of five percent or more of the Common Stock then outstanding or any corporation,
partnership, trust or other entity in which any such officer, director, or stockholder has a substantial interest or is an officer,
director, trustee or partner, or any respective family member or Affiliate of such officer, director or stockholder, on the other
hand.

 

Section 3.16         Insurance.
Each of the Company and its Subsidiaries is insured by insurers of recognized financial responsibility against such losses and
risks and in such amounts as the Company reasonably believes are prudent and customary for the businesses in which the Company
and its Subsidiaries are engaged. All such insurance is fully in force, except where the failure to be in full force has not had
and would not be reasonably expected to have, individually or in the aggregate, a Material Adverse Effect. The Company has no reason
to believe that it will not be able to renew or extend its existing insurance coverage as and when such coverage expires or will
not be able to obtain similar coverage from similar insurers as may be necessary to continue its business without an increase in
cost significantly greater than general increases in cost experienced for similar companies in similar industries with respect
to similar coverage.

 

Section 3.17         Investment
Company Act. The Company is not, and immediately after giving effect to the sale of the Shares in accordance with this Agreement
and the application of the proceeds thereof will not be required to be registered as, an “investment company” or a
company “controlled” by an “investment company,” within the meaning of the Investment Company Act.

 

Section 3.18         Margin
Regulations. The Company is not engaged in the business of extending credit for the purpose of purchasing or carrying margin
stock (within the meaning of Regulation U issued by the Board of Governors of the Federal Reserve System), and no proceeds of any
Shares will be used in a manner as would cause the transactions contemplated hereby to violate Regulation T, U or X of the Board
of Governors of the Federal Reserve System.

 

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Section 3.19         NASDAQ.
As of the date hereof, the Common Stock is listed on NASDAQ, and no event has occurred, and the Company is not aware of any event
that is reasonably likely to occur, that would result in the Common Stock being delisted from NASDAQ. The sale and issuance of
the Shares complies with all rules and regulations of NASDAQ and the listing of the Shares on NASDAQ is not subject to any approvals
except such as have been obtained prior to Closing.

 

Section 3.20         Issuance
Exempt. Assuming the truth and accuracy of the representations and warranties of the Purchasers contained in Article IV
hereof, the offer, sale, and issuance of the Shares will be exempt from the registration requirements of the Securities Act, and
will have been registered or qualified (or are exempt from registration and qualification) under the registration, permit or qualification
requirements of all applicable state securities Laws (or qualification requirements under blue sky Laws).

 

Section 3.21         No
Integrated Offering. Assuming the truth and accuracy of the representations and warranties of the Purchasers contained in Article
IV hereof, neither the Company, nor any of its Affiliates or any other Person acting on the Company’s behalf, has directly
or indirectly engaged in any form of general solicitation or general advertising with respect to the Shares nor have any of such
Persons made any offers or sales of any security or solicited any offers to buy any security under circumstances that would require
registration of the Shares under the Securities Act or cause this offering of Shares to be integrated with any prior offering of
securities of the Company for purposes of the Securities Act or any applicable stockholder approval provisions, including, without
limitation, any applicable NASDAQ stockholder approval requirements.

 

Section 3.22         Internal
Accounting and Disclosure Controls.

 

(a)          The
Company and its Subsidiaries maintain a system of internal control over financial reporting (as such term is defined in Rule 13a-15(f)
and Rule 15d-15(f) of the Exchange Act) that has been designed by, or under the supervision of, the Company’s principal executive
and principal financial officers sufficient to provide reasonable assurance regarding the reliability of financial reporting and
the preparation of financial statements for external purposes in accordance with GAAP, including, but not limited to, internal
accounting controls sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s
general or specific authorization, (ii) transactions are recorded as necessary to permit preparation of the Company’s financial
statements in conformity with GAAP and to maintain accountability for its assets, (iii) access to the Company’s assets is
permitted only in accordance with management’s general or specific authorization, and (iv) the recorded accountability for
the Company’s assets is compared with existing assets at reasonable intervals and appropriate action is taken with respect
to any differences. There are no material weaknesses in the Company’s internal controls.

 

(b)          (i)
The Company and its Subsidiaries maintain disclosure controls and procedures (as such term is defined in Rule 13a-15(e) and Rule
15d-15(e) under the Exchange Act), (ii) such disclosure controls and procedures are designed to ensure that the information required
to be disclosed by the Company in the reports filed or to be filed or submitted under the Exchange Act is accumulated and communicated
to management of the Company, including its

 

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principal executive officer
and principal financial officer, to allow timely decisions regarding required disclosures to be made, and (iii) such disclosure
controls and procedures are effective in all material respects to perform the functions for which they were established.

 

(c)          (i)
The Company has not been advised of or become aware of (A) any significant deficiencies in the design or operation of internal
controls that has not been adequately remediated or that could adversely affect the ability of the Company or any of its Subsidiaries
to record, process, summarize and report financial data, or any material weaknesses in internal controls, and (B) any fraud, whether
or not material, that involves management or other employees who have a significant role in the internal controls of the Company
and its Subsidiaries; and (ii) since September 30, 2016 there has been no change in the Company’s internal controls over
financial reporting that has materially affected, or is reasonably likely to materially affect, the Company’s and its Subsidiaries’
internal controls over financial reporting.

 

Section 3.23         Off
Balance Sheet Arrangements. There is no transaction, arrangement or other relationship between the Company or any of its Subsidiaries
and an unconsolidated or other off balance sheet entity that is required to be disclosed by the Company in the SEC Documents and
is not so disclosed, other than as would not, individually or in the aggregate, be reasonably expected to have a Material Adverse
Effect.

 

Section 3.24         Transfer
Taxes. All stock transfer or other taxes (other than income or similar Taxes) which are required to be paid in connection with
the transactions contemplated hereby have been fully paid or provided for by the Company, and all laws imposing such taxes will
be or will have been complied with.

 

Section 3.25         Ownership
of Property. Except as set forth in the SEC Documents, the Company has: (i) good and marketable fee simple title to its owned
real property, if any, free and clear of all Liens, except for Liens that would not, individually or in the aggregate, be reasonably
expected to have a Material Adverse Effect; (ii) except as would not, individually or in the aggregate, be reasonably expected
to have a Material Adverse Effect, a valid leasehold interest in all leased real property, and each of such leases is valid and
enforceable in accordance with its terms (subject to laws of general application relating to bankruptcy, insolvency and the relief
of debtors and rules of law governing specific performance, injunctive relief or other equitable remedies, and to limitations of
public policy) and is in full force and effect, and (iii) good title to, or valid leasehold interests in, all of its other properties
and assets, free and clear of all Liens, except for Liens that would not, individually or in the aggregate, be reasonably expected
to have a Material Adverse Effect.

 

Section 3.26         Finders
or Brokers. Neither the Company nor any of its Affiliates has employed any investment banker, broker or finder in connection
with the transactions contemplated by this Agreement who might be entitled to any fee or any commission from the Purchasers or
any of their Affiliates in connection with or upon consummation of the transactions contemplated hereby.

 

Section 3.27         Material
Non-Public Information. To the extent the Company has provided any material non-public information to any Purchaser, it has
provided such information to every Purchaser.

 

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Section 3.28         No
Other Representations or Warranties. Except for the representations and warranties of the Company expressly set forth in this
Article III, with respect to the transactions contemplated by this Agreement, the Company (i) expressly disclaims any representations
or warranties of any kind or nature, express or implied, including with respect to the condition, value or quality of the Company
and its Subsidiaries or any of the assets or properties of the Company and its Subsidiaries, and (ii) specifically disclaims any
representation or warranty of merchantability, usage, suitability or fitness for any particular purpose with respect to any of
the assets or properties of the Company and its Subsidiaries. Notwithstanding the foregoing, in making the decision to invest in
the Shares the Purchasers will rely, and the Company agrees that the Purchasers may rely, on the information (A) contained in the
SEC Documents or (B) that has provided in writing to Purchasers by the Company or on behalf of the Company.

 

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

 

Each Non-Avenir Purchaser
represents and warrants, severally and not jointly, to the Company and Avenir represents and warrants on behalf of the Avenir Purchasers
to the Company as of the date of this Agreement that:

 

Section 4.1           Organization
and Power. Such Non-Avenir Purchaser is or, in the case of Avenir, Avenir is and to Avenir’s knowledge each Avenir Purchaser
is, if not a natural person, an entity duly formed, validly existing and in good standing under the laws of the jurisdiction of
its formation and has all requisite power and authority to own its properties and to carry on its business as presently conducted.

 

Section 4.2           Authorization;
Enforcement. Such Purchaser has, or in the case of Avenir each Avenir Purchaser has, all necessary power and authority and
has taken all necessary action required for the due authorization, execution, delivery and performance by the Purchaser of this
Agreement and any other Related Agreement to which it is a party and the completion by the Purchaser of the transactions contemplated
hereby and thereby. Avenir represents that it has all necessary power and authority for the due execution and delivery of this
Agreement and any Related Agreement on behalf of the Avenir Purchasers. This Agreement has been duly executed and delivered by
the Non-Avenir Purchaser, and in the case of Avenir by Avenir, and each Related Agreement to which the Purchaser is a party, when
executed and delivered by the Purchaser, or in the case of Avenir by Avenir, will be duly executed and delivered. Assuming due
execution and delivery thereof by each of the other parties thereto, this Agreement is, and each of the Related Agreement to which
the Purchaser is a party, when executed by the Purchaser, will be a valid and binding obligation of the Purchaser enforceable against
the Purchaser in accordance with its terms, except as such enforceability may be limited by applicable laws relating to bankruptcy,
insolvency, reorganization, moratorium or other similar legal requirements relating to or affecting creditors’ rights generally
and except as such enforceability is subject to general principles of equity (regardless of whether enforceability is considered
in a proceeding in equity or at law).

 

Section 4.3           No
Conflict. The authorization, execution, delivery and performance by the Purchaser of this Agreement and the Related Agreements
to which it is a party, and the completion by the Purchaser of the transactions contemplated hereby and thereby do not and will
not: (i) violate, conflict with or result in the breach of any provision of the organizational documents of

 

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the Purchaser; or (ii) with such exceptions that would not, individually
or in the aggregate, be reasonably expected to have a material adverse effect on the Purchaser’s ability to perform its obligations
under this Agreement and the Related Agreements to which it is a party, whether after the giving of notice or the lapse of time
or both: (a) violate any provision of Law applicable to the Purchaser or its property or assets; or (b) violate any provision of,
constitute a breach of, or default under, or result in or permit the cancellation, termination or acceleration of any material
contract to which the Purchaser is a party, by which the Purchaser is bound, or to which any of the property or assets of the Purchaser
is subject.         

 

Section 4.4           Government
Approvals. No consent, approval, license or authorization of, or designation, declaration or filing with, any Governmental
Entity is or will be required on the part of the Purchaser in connection with the execution, delivery and performance by the Purchaser
of this Agreement and the Related Agreements to which it is a party, except for: (i) those which have already been made or granted;
(ii) those which may be made or obtained following the Closing; or (iii) as would not, individually or in the aggregate, be reasonably
expected to have a material adverse effect on its ability to perform its obligations under this Agreement and the Related Agreements
to which it is a party.

 

Section 4.5           Investment
Representations.

 

(a)          Each
Non-Avenir Purchaser represents and warrants that it is, and Avenir represents and warrants that each Avenir Purchaser is, an “accredited
investor” as that term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act.

 

(b)          The
Purchaser understands that the Shares are “restricted securities” under applicable U.S. federal and state securities
laws. The Purchaser has been advised by the Company that the Shares have not been registered under the Securities Act, that the
Shares will be issued on the basis of the statutory exemption provided by Section 4(a)(2) under the Securities Act or Regulation
D promulgated thereunder, or both, relating to transactions by an issuer not involving any public offering and under similar exemptions
under certain state securities laws, that this transaction has not been reviewed by, passed on or submitted to any U.S. federal
or state agency or self-regulatory organization where an exemption is being relied upon, and that the Company’s reliance
thereon is based in part upon the representations made by the Purchaser in this Agreement and the Related Agreements to which the
Purchaser is a party. The Purchaser acknowledges that it has been informed by the Company of, or is otherwise familiar with, the
nature of the limitations imposed by the Securities Act and the rules and regulations thereunder on the transfer of securities.

 

(c)          The
Purchaser is purchasing the Shares for its own account and not with a view to, or for sale in connection with, any distribution
thereof in violation of U.S. federal or state securities laws.

 

(d)          The
Purchaser confirms and agrees that (i) it has independently evaluated the merits of its decision to purchase the Shares, (ii) it
has not relied on the advice of, or any representations by, Jefferies LLC, in its capacity as placement agent (“Jefferies”),
or any affiliate thereof or any representative of Jefferies or its affiliates in making such decision, and (iii) neither Jefferies
nor any of its representatives has any responsibility with respect to the completeness or

 

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accuracy of any information
or materials furnished to such Purchaser in connection with the transactions contemplated hereby.

 

Section 4.6           Finders
or Brokers. Neither the Purchaser nor any of its Affiliates has employed any investment banker, broker or finder in connection
with the transactions contemplated by this Agreement who might be entitled to any fee or any commission from the Company or any
of its Affiliates in connection with or upon consummation of the transactions contemplated hereby.

 

Section 4.7           No
Other Representations or Warranties. The Purchaser acknowledges that it (i) has received access to such books and records,
facilities, equipment, contracts and other assets of the Company and its Subsidiaries which it has desired or requested to review,
(ii) has conducted an independent investigation of the Company and its Subsidiaries and the transactions contemplated by this Agreement
and (iii) has had access to management of the Company to discuss and ask questions regarding the businesses and assets of the Company
and its Subsidiaries.

 

ARTICLE V

COVENANTS OF THE PARTIES

 

Section 5.1           Regulatory.

 

(a)          For
so long as a Purchaser or any of its Affiliates holds any portion of the Shares, the Company shall promptly, upon the request of
such Purchaser, use its commercially reasonable efforts to cooperate with, and assist the Purchaser in any regulatory consent,
filing, notification or clearance that the Purchaser, upon advice of counsel, determines is advisable as to or by reason of its
ownership or holding of the Shares. Each party shall promptly furnish to the other party all necessary information and provide
reasonable assistance as the other party may reasonably request in connection with this Section 5.1(a). Each party shall
keep the other party apprised of the status of any communication with, and any inquiries or requests for additional information
from, any Governmental Entity (or other Person regarding any of the transactions contemplated by this Agreement or the Related
Agreements) with respect to this Section 5.1(a) and shall use its respective commercially reasonable efforts to comply promptly
with any such inquiry or request (and, unless otherwise prohibited by law, provide copies of any such communications that are in
writing).

 

(b)          All
fees, costs and expenses incurred in connection with Section 5.1(a) above shall be paid by the party incurring such costs
or expenses.

 

Section 5.2           Use
of Proceeds. The Company covenants and agrees, and the Purchasers acknowledge, that the proceeds of the Shares shall be used
by the Company for (i) the payment of the fees and expenses of the transactions contemplated by this Agreement and (ii) the repayment
of indebtedness and other obligations under or with respect to the Existing Credit Agreement.

 

Section 5.3           Purchaser
Transaction Expenses. The Company shall reimburse the Purchasers (and shall be responsible for discharging) all reasonable
and invoiced out-of-pocket fees, costs and expenses incurred by the Purchasers up to the Transaction Expenses Cap, including the
fees and expenses of attorneys, accountants and other outside professionals and consultants engaged by the Purchasers and/or their
Affiliates, in connection with the preparation, negotiation

 

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and execution of this Agreement, the Related Agreements and the
transactions contemplated hereby and thereby, including any preliminary discussions or undertakings with respect to such transactions.

 

Section 5.4           Placement
Agent’s Fees. The Company acknowledges that it has engaged Jefferies in its capacity as placement agent in connection
with the sale of the Shares. The Company shall be responsible for the payment of any placement agent’s fees, financial advisory
fees, or brokers’ commissions, in each case payable to third parties retained by the Company, relating to or arising out
of the transactions contemplated by this Agreement.

 

Section 5.5           Further
Assurances. Subject to Section 6.10 hereof, after the Closing, and for no further consideration, each of the parties
shall, and shall cause its Affiliates to, execute, acknowledge and deliver such assignments, transfers, consents, assumptions and
other documents and instruments and take such other actions as may reasonably be requested to more effectively consummate the transactions
contemplated by this Agreement and the Related Agreements.

 

Section 5.6           Lock-up.
For a period commencing on the date hereof and ending on the 90th day after the date hereof, the Company agrees not to, directly
or indirectly, other than with respect to the Shares, (1) offer for sale, sell, pledge or otherwise dispose of (or enter into any
transaction or device that is designed to, or could be expected to, result in the disposition by any person at any time in the
future of) any shares of Common Stock or securities convertible into or exchangeable for Common Stock (other than the Common Stock
issued pursuant to the Stock Plans or any other employee benefit plans, qualified stock option plans or other employee or director
compensation plans or programs existing on the date hereof or pursuant to currently outstanding options, warrants or rights), or
sell or grant options, rights or warrants with respect to any shares of Common Stock or securities convertible into or exchangeable
for Common Stock (other than the grant of options pursuant to the Stock Plans or any other option or equity compensation plans
existing on the date hereof), (2) enter into any swap or other derivatives transaction that transfers to another, in whole or in
part, any of the economic benefits or risks of ownership of such shares of Common Stock, whether any such transaction described
in clause (1) or (2) above is to be settled by delivery of Common Stock or other securities, in cash or otherwise, (3) file or
cause to be filed a registration statement, including any amendments, with respect to the registration of any shares of Common
Stock or securities convertible, exercisable or exchangeable into Common Stock or any other securities of the Company (other than
with respect to any registration statement filed in connection with any amendment to the Company’s registration statement
on Form S-3 dated November 23, 2016) or (4) publicly disclose the intention to do any of the foregoing, in each case without the
prior written consent of a majority in interest of the Purchasers.

 

Section 5.7           Press
Release. The Company and the Purchasers agree to issue a joint press release announcing this Agreement, which press release
will contain all material, non-public information disclosed by the Company to the Purchasers. The Company shall issue the press
release prior to 9:30 AM, New York City time on the date of this Agreement.

 

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ARTICLE VI

MISCELLANEOUS

 

Section 6.1           Execution
and Counterparts. This Agreement may be executed in multiple counterparts, all of which when taken together shall be considered
one and the same agreement and shall become effective when counterparts have been signed by each party and delivered to the other
parties. In the event that any signature is delivered by facsimile transmission or by email delivery of a “.pdf” format
data file, such signature shall create a valid and binding obligation of the party executing (or on whose behalf such signature
is executed) with the same force and effect as if such facsimile or “.pdf” signature page were an original thereof.

 

Section 6.2           Intentionally
Omitted.

 

Section 6.3           Governing
Law. This Agreement is to be construed in accordance with and governed by the internal Laws of the State of New York without
giving effect to any choice of law rule that would cause the application of the laws of any jurisdiction other than the internal
laws of the State of New York to the rights and duties of the parties. All disputes and controversies arising out of or in connection
with this Agreement shall be resolved exclusively in (i) the Supreme Court of the State of New York, New York County, or (ii) the
United States District Court for the Southern District of New York, and each party agrees to submit to the jurisdiction of said
courts and agrees that venue shall lie exclusively with such courts.

 

Section 6.4           Waiver
of Jury Trial. Each party hereby waives, and agrees to cause each of its Affiliates to waive, to the fullest extent permitted
by applicable Law, any right it may have to a trial by jury in respect of any litigation directly or indirectly arising out of,
under or in connection with this Agreement, the Related Agreements or any transaction contemplated hereby or thereby. Each party
(i) certifies that no representative of any other party has represented, expressly or otherwise, that such other party would not,
in the event of litigation, seek to enforce the foregoing waiver and (ii) acknowledges that it and the other parties hereto and
thereto have been induced to enter into this Agreement and the Related Agreements by, among other things, the mutual waivers and
certifications in this Section 6.4.

 

Section 6.5           Entire
Agreement; No Third Party Beneficiary. This Agreement and the Related Agreements contain the entire agreement by and among
the parties with respect to the subject matter hereof and all prior negotiations, writings and understandings relating to the subject
matter of this Agreement are merged in and are superseded and canceled by, this Agreement and the Related Agreements. This Agreement
does not create any rights, claims or benefits inuring to any Person that is not a party hereto nor create or establish any third
party beneficiary hereto; provided, that Jefferies is an intended third party beneficiary of this Agreement as set forth
in Section 6.6.

 

Section 6.6           Reliance
by and Exculpation of Jefferies as Placement Agent

 

(a)          Each
Purchaser agrees and acknowledges that (i) Jefferies, its affiliates and its representatives have not made, and will not make any
representations or warranties with respect to the Company or the offer and sale of the Shares, and such Purchaser will not rely
on any statements made by Jefferies, orally or in writing, to the contrary, (ii) such Purchaser will be

 

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responsible for conducting
its own due diligence investigation with respect to the Company and the offer and sale of the Shares, (iii) such Purchaser will
be purchasing Shares based on the results of its own due diligence investigation of the Company, (iv) such Purchaser has negotiated
the offer and sale of the Shares directly with the Company, and Jefferies will not be responsible for the ultimate success of any
such investment and (v) the decision to invest in the Company will involve a significant degree of risk, including a risk of total
loss of such investment. Each Purchaser further represents and warrants to Jefferies that it, including any fund or funds that
it manages or advises that participates in the offer and sale of the Shares, is permitted under its constitutive documents (including,
without limitation, all limited partnership agreements, charters, bylaws, limited liability company agreements, all applicable
side letters with investors, and similar documents) to make investments of the type contemplated by this Agreement. In light of
the foregoing, to the fullest extent permitted by law, the Company releases Jefferies, its employees, officers, representatives
and affiliates from any liability with respect to such Purchaser’s participation in the offer and sale of the Shares including,
but not limited to, any improper payment made in accordance with the information provided by the Company, except to the extent
such liability arises out of or is based on any action of or failure to act by Jefferies that is determined, by a final, non-appealable
judgment by a court, to have resulted primarily and directly from Jefferies’ gross negligence, willful misconduct or bad
faith. This Section 6.6 shall survive any termination of this Agreement.

 

(b)          The
Company agrees and acknowledges that Jefferies may rely on its representations, warranties, agreements and covenants contained
in this Agreement and each Purchaser agrees that Jefferies may rely on such Purchaser’s representations and warranties contained
in this Agreement as if such representations, warranties, agreements and covenants, as applicable, were made directly to Jefferies.

 

(c)          The
Company agrees for the express benefit of Jefferies, that: (1) neither Jefferies, nor any of its affiliates or any of its representatives
has any duties or obligations other than those specifically set forth herein or in the engagement letter, dated as of January 10,
2017, between the Company and Jefferies (the “Engagement Letter”); and (2) Jefferies, its affiliates and its
representatives shall be entitled to be indemnified by the Company for acting as placement agent hereunder pursuant to the indemnification
provisions set forth in the Engagement Letter.

 

(d)          The
Company agrees and acknowledges that the consummation by Jefferies, as placement agent, of its obligations set forth in the Engagement
Letter, are subject to the condition that, at Closing, Jenner & Block LLP, counsel to the Company, shall have provided Jefferies
with a legal opinion in form and substance reasonably satisfactory to Jefferies.

 

Section 6.7           Notices.
All notices and other communications hereunder shall be in writing and given by certified or registered mail, return receipt requested,
nationally recognized overnight delivery service, such as Federal Express, or electronic mail or personal delivery against receipt
to the party to whom it is given, in each case, at such party’s address or electronic mail address set forth below or such
other address or electronic mail address as such party may hereafter specify by notice to the other parties given in accordance
herewith. Any such notice or other communication shall be deemed to have been given as of the date so personally delivered or transmitted
by electronic mail, on the next Business Day when sent by overnight delivery services or five days after the date so mailed if
by certified or registered mail.

 

    19

     

    

 

If to the Company, to:

 

Internap Corporation

1 Enterprise Ave. N.

Secaucus, NJ 07094

		Attention:	Richard P. Diegnan

		Email:	rdiegnan@inap.com

 

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

 

Jenner & Block LLP

353 North Clark Street

Chicago, IL 60654

		Attention:	Thomas A. Monson

		Email:	tmonson@jenner.com

 

If to any Purchaser, to the address set forth for such Purchaser
on its signature page hereto.

 

Section 6.8           Successors
and Assigns. This Agreement shall be binding upon and inure to the benefit of the parties and their respective successors and
permitted assigns, and no other Person shall have any right or obligation hereunder. Neither party hereto may assign its rights
or obligations under this Agreement without the prior written consent of the other party; provided, however, that
the rights and obligations hereunder may be assigned by any Purchaser to a controlled Affiliate of such Purchaser or any transferee
of Shares of a Purchaser (provided that any such transfer complies with the restrictions on transfer set forth in Section 4.5
hereof); provided, that, in such event, such Purchaser shall remain responsible for all obligations of such Purchaser under
this Agreement following the Closing. Any purported assignment or delegation in violation of this Agreement shall be null and void
ab initio.

 

Section 6.9           Headings.
The Section, Article and other headings contained in this Agreement are inserted for convenience of reference only and shall not
affect the meaning or interpretation of this Agreement.

 

Section 6.10         Amendments
and Waivers. This Agreement may not be modified or amended except by an instrument or instruments in writing signed by each
party; provided that if any such instrument shall be signed by less than all Purchasers (or their respective successors or assigns),
such modification or amendment shall be effective only against Purchasers (or their successors or assigns) signing the instrument.
Any party may, only by an instrument in writing, waive compliance by any other party with any term or provision hereof on the part
of such other party to be performed or complied with. No failure or delay of any party in exercising any right or remedy hereunder
shall operate as a waiver thereof, nor shall any single or partial exercise of any right or power, or any abandonment or discontinuance
of steps to enforce such right or power, preclude any other or further exercise thereof or the exercise of any other right or power.
The waiver by any party of a breach of any term or provision hereof shall not be construed as a waiver of any subsequent breach.
The rights and remedies of the parties are cumulative and are not exclusive of any rights or remedies that they would otherwise
have hereunder.

 

    20

     

    

 

Section 6.11         Interpretation;
Absence of Presumption.

 

(a)          For
the purposes hereof: (i) words in the singular shall be held to include the plural and vice versa and words of one gender shall
be held to include the other gender as the context requires; (ii) the terms “hereof,” “herein,” and “herewith”
and words of similar import shall, unless otherwise stated, be construed to refer to this Agreement as a whole (including all of
the Schedules and Exhibits) and not to any particular provision of this Agreement, and Article, Section, paragraph, Exhibit and
Schedule references are to the Articles, Sections, paragraphs, Exhibits, and Schedules to this Agreement unless otherwise specified;
(iii) the word “including” and words of similar import when used in this Agreement shall mean “including, without
limitation,” unless the context otherwise requires or unless otherwise specified; and (iv) the word “or” shall
not be exclusive.

 

(b)          With
regard to each and every term and condition of this Agreement, the Related Agreements and any agreement or instrument subject to
the terms hereof, the parties understand and agree that the same have or has been mutually negotiated, prepared and drafted, and
if at any time the parties desire or are required to interpret or construe any such term or condition or any agreement or instrument
subject hereto, no consideration shall be given to the issue of which party actually prepared, drafted or requested any term or
condition of this Agreement or any agreement or instrument subject hereto.

 

(c)          The
Company agrees that the parties have negotiated in good faith and at arms’ length concerning the transactions contemplated
herein, and that the Purchaser would not have agreed to the terms of this Agreement without each and every of the terms, conditions,
protections and remedies provided herein and in the Related Agreements.

 

Section 6.12         Severability.
Any provision hereof that is held to be invalid, illegal or unenforceable in any respect by a court of competent jurisdiction,
shall be ineffective only to the extent of such invalidity, illegality or unenforceability, without affecting in any way the remaining
provisions hereof; provided, however, that the parties shall attempt in good faith to reform this Agreement in a
manner consistent with the intent of any such ineffective provision for the purpose of carrying out such intent.

 

Section 6.13         Enforcement.
The parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement was not performed
in accordance with its specific terms or was otherwise breached. Accordingly, each of the parties shall be entitled to specific
performance of the terms hereof, including an injunction or injunctions to prevent breaches of this Agreement or the Related Agreements,
in addition to any other remedy to which each party is entitled at law or in equity. Each of the parties further hereby waives
(i) any defense in any action for specific performance that a remedy at law would be adequate and (ii) any requirement under any
Law to post security as a prerequisite to obtaining equitable relief.

 

Section 6.14         Remedies;
Survival of Representations and Warranties. Any and all remedies set forth in this Agreement or the Related Agreements: (i)
shall be in addition to any and all other remedies the Purchasers or the Company may have at law or in equity; (ii) shall be cumulative;
and (iii) may be pursued successively or concurrently as the Purchasers and the Company may elect. The exercise of any remedy by
the Purchasers or the Company shall not be

 

    21

     

    

 

deemed an election of remedies or preclude the Purchasers, on the
one hand, or the Company, on the other hand, from exercising any other remedy in the future. The representations and warranties
of the parties herein shall terminate as of, and shall not survive, or be of any further force or effect following, the Closing,
except that the representations and warranties set forth in Article III and Section 4.6 shall survive the Closing
until the expiration of the statute of limitations therefore, and, with respect to such representations and warranties that survive
the Closing, the parties shall be entitled to any right or remedy available to them relating to, or as a result of, any breach
of such representations and warranties, provided that no Purchaser shall be entitled to damages, in the aggregate, from the Company
that are in excess of the respective portion of the Purchase Price paid by such Purchaser. Under no circumstance shall any party
be entitled to exemplary or punitive damages or lost profits. The covenants set forth in this Agreement shall survive in accordance
with their terms and until fully performed at which time they shall terminate.

 

[Signature Page Follows]

 

    22

     

    

 

The parties have executed
this Securities Purchase Agreement as of the date first written above.

 

	 	INTERNAP CORPORATION
	 	 	 	 
	 	By:	 	
        /s/
        Peter         D. Aquino

	 	Name:	 	Peter D. Aquino
	 	Title:	 	President & Chief Executive Officer

 

[Signature Page to
Securities Purchase Agreement]

 

     

     

    

 

	 	PURCHASER:
	 	 
	 	THE GABELLI SMALL CAP GROWTH FUND
	 	 	 
	 	By:	 	
        /s/
        David         Goldman

	 	Name:	 	David Goldman
	 	Title:	 	Gabelli Funds, LLC

 

[Signature Page to
Securities Purchase Agreement]

 

     

     

    

 

	 	PURCHASERS:
	 	 
	 	Avenir Corporation, on behalf of certain advisory accounts
	 	 	 
	 	By:	 	
        /s/
        Peter         C. Keefe

	 	Name:	 	Peter C. Keefe
	 	Title:	 	Executive Chairman

 

[Signature Page to
Securities Purchase Agreement]

 

     

     

    

 

	 	PURCHASERS:
	 	 
	 	Park West Investors Master Fund, Limited
	 	 
	 	By: Park West Asset Management LLC
	 	Its: Investment Manager
	 	 	 
	 	By:	 	
        /s/
        Grace         Jimenez

	 	Name:	 	Grace Jimenez
	 	Title:	 	Chief Financial Officer

 

	 	Address:
	 	Park West Asset Management LLC
	 	900 Larkspur Landing Circle, Suite 165
	 	Larkspur, CA 94939
	 	Phone: (415) 524-2900

 

[Signature Page to
Securities Purchase Agreement]

 

     

     

    

 

	 	PURCHASERS:
	 	 
	 	Park West Partners International, Limited
	 	 
	 	By: Park West Asset Management LLC
	 	Its: Investment Manager
	 	 	 
	 	By:	 	
        /s/
        Grace         Jimenez

	 	Name:	 	Grace Jimenez
	 	Title:	 	Chief Financial Officer

 

	 	Address:
	 	Park West Asset Management LLC
	 	900 Larkspur Landing Circle, Suite 165
	 	Larkspur, CA 94939
	 	Phone: (415) 524-2900

 

[Signature Page to
Securities Purchase Agreement]

 

     

     

    

 

	 	PURCHASERS:
	 	 
	 	Nineteen77 Global Multi-Strategy Alpha 

(Levered) Master Limited
	 	 
	 	By: UBS O’Connor LLC, as investment advisor
	 	 	 
	 	By:	 	
        /s/
        Andrew         Hollenbeck  / Nicholas Vagra

	 	Name:	 	Andrew Hollenbeck / Nicholas Vagra
	 	Title:	 	
        Manager, General Counsel /

        Manager, Chief Operating Officer

 

[Signature Page to
Securities Purchase Agreement]

 

     

     

    

 

	 	PURCHASERS:
	 	 
	 	O’Connor Global Multi-Strategy Alpha  

Master Limited
	 	 
	 	By: UBS O’Connor LLC, as investment advisor
	 	 	 
	 	By:	 	
        /s/
        Andrew         Hollenbeck / Nicholas Vagra

	 	Name:	 	Andrew Hollenbeck / Nicholas Vagra
	 	Title:	 	
        Manager, General Counsel /

        Manager, Chief Operating Officer

 

[Signature Page to
Securities Purchase Agreement]

 

     

     

    

 

SCHEDULE 1

 

List of Purchasers

 

	Purchaser	Number of Shares	Purchase Price
	Avenir Corporation	4,990,697	$9,033,161.57
	The Gabelli Small Cap Growth Fund	5,524,861	$9,999,998.41
	
        Nineteen77 Global Multi-Strategy
 Alpha (Levered)
        Master Limited

        O’Connor Global Multi-Strategy Alpha Master
        Limited
	5,000,000	$9,050,000.00
	
        Park West Partners International, Limited

        Park West Investors Master Fund, Limited
	8,287,292	$14,999,998.52
	Total	23,802,850	$43,083,158.50Exhibit 10.2

 

EXECUTION VERSION

 

REGISTRATION RIGHTS AGREEMENT

 

Dated
as of February 22, 2017

 

by and
among

 

Internap
Corporation

 

and

 

the
Stockholders party hereto

 

     

     

    

 

TABLE OF CONTENTS

 

	1.	Certain Definitions	1
	 	 	 
	2.	Shelf Registration Statements	4
	 	 	 
	3.	Additional Demand Registrations	6
	 	 	 
	4.	Piggyback Registrations	8
	 	 	 
	5.	Selection of Underwriters	9
	 	 	 
	6.	Holdback Agreements	9
	 	 	 
	7.	Procedures	9
	 	 	 
	8.	Registration Expenses	14
	 	 	 
	9.	Indemnification	14
	 	 	 
	10.	Rule 144	16
	 	 	 
	11.	Transfer of Registration Rights	16
	 	 	 
	12.	Conversion of Other Securities	17
	 	 	 
	13.	Miscellaneous	17

  

		Exhibit A	Form of Joinder

 

     

     

    

 

REGISTRATION RIGHTS AGREEMENT

 

This Registration Rights
Agreement, dated as of February 22, 2017, is by and among Internap Corporation, a Delaware corporation (the “Company”),
and each of the stockholders of the Company listed in the signature pages hereto (each, an “Initial Stockholder”
and collectively the “Initial Stockholders”).

 

WHEREAS, the Company and
the Initial Stockholders have on the date hereof entered into that certain Securities Purchase Agreement (as defined below);

 

WHEREAS, pursuant to the
Securities Purchase Agreement, the Initial Stockholders purchased an aggregate of 23,802,850 shares (the “Purchased Shares”)
of the Company’s Common Stock (as defined below); and

 

WHEREAS, the parties hereto
wish to enter into this Agreement on the date hereof in order to set forth their relative rights with regard to the registration
of the Company’s securities and certain other matters.

 

In consideration of the
mutual covenants and agreements herein contained and other good and valid consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties to this Agreement hereby agree as follows:

 

1.            Certain
Definitions. In addition to the terms defined elsewhere in this Agreement, the following terms
shall have the following meanings:

 

“Affiliate”
of any Person means any other Person that directly, or indirectly through one or more intermediaries, controls, or is controlled
by, or is under common control with, such Person. The term “control” (including the terms “controlling,”
“controlled by” and “under common control with”) as used with respect to any Person means the possession,
direct or indirect, of the power to direct or cause the direction of the management and policies of such Person, whether through
the ownership of voting securities, by contract or otherwise.

 

“Agreement”
means this Registration Rights Agreement, including all amendments, modifications and supplements hereof and any exhibits hereto.

 

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

 

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

 

“Business Day”
means any day, except a Saturday, Sunday or legal holiday on which banking institutions in the City of New York are authorized
or obligated by law or executive order to close.

 

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

 

“Company”
has the meaning set forth in the Preamble and includes any

 

     

     

    

 

other Person referred to in the second sentence of
Section 13(c) hereof.

 

“Delay Period”
means a Demand Delay Period and a Shelf Delay Period.

 

“Demand Delay Period”
has the meaning set forth in Section 3(d) hereof.

 

“Demand Registration”
has the meaning set forth in Section 3(a) hereof.

 

“Demand Registration
Statement” has the meaning set forth in Section 3(a) hereof.

 

“Demand Stockholders”
means, as of the date of determination, any Stockholder or Stockholders holding in the aggregate shares of Common Stock that constitute
10% or more of the Purchased Shares.

 

“Effectiveness Deadline”
has the meaning set forth in Section 2(a) hereof.

 

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

 

“Full Cooperation”
means, in connection with any underwritten offering, that, in addition to the cooperation otherwise required by this Agreement,
(a) members of senior management of the Company (including the chief executive officer and chief financial officer) fully and reasonably
cooperate with the underwriter(s) in connection therewith and make themselves reasonably available to participate in “road-show”
and other customary marketing activities in such locations (domestic and foreign) as recommended by the underwriter(s) (including
one-on-one meetings with prospective purchasers of the Registrable Securities); provided that such activities shall not
unreasonably interfere with the duties of such members of senior management in the ordinary course of the Company’s business
and (b) the Company prepares preliminary and final prospectuses (preliminary and final prospectus supplements in the case of an
offering pursuant to the Shelf Registration Statement) for use in connection therewith containing such additional information as
reasonably requested by the underwriter(s) (in addition to the minimum amount of information required by law, rule or regulation).

 

“Fully Marketed
Underwritten Offering” means an underwritten offering in which there is Full Cooperation.

 

“Governmental Entity”
means any national, federal, state, municipal, local, territorial, foreign or other government or any department, commission, board,
bureau, agency, regulatory authority or instrumentality thereof, or any court, judicial, administrative or arbitral body or public
or private tribunal.

 

“Initial Stockholders”
has the meaning set forth in the Preamble.

 

“Joinder”
has the meaning set forth in Section 11(a) hereof.

 

“Permitted Transferee”
has the meaning set forth in Section 11(a) hereof.

 

    	 	2	 

     

    

 

“Person”
means any individual, sole proprietorship, partnership, limited liability company, joint venture, trust, unincorporated organization,
association, corporation, institution, public benefit corporation, Governmental Entity or any other entity.

 

“Piggyback Registration”
has the meaning set forth in Section 4(a) hereof.

 

“Prospectus”
means the prospectus or prospectuses included in any Registration Statement, as amended or supplemented by any prospectus supplement
with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and
by all other amendments and supplements to the prospectus, including post-effective amendments and all material incorporated by
reference in such prospectus or prospectuses.

 

“Purchased Shares”
has the meaning set forth in the Recitals.

 

“Registrable Securities”
means (i) the Purchased Shares, (ii) any other shares of Common Stock of the Company owned as of the date hereof by the Initial
Stockholders (including, for the avoidance of doubt, any shares of Common Stock held by Affiliates of or funds managed by the Initial
Stockholders or held in advisory accounts for which the Initial Stockholders have investment discretion) and (iii) any shares of
Common Stock issued as a distribution with respect to, in exchange for, upon exercise of, or in replacement of any such Purchased
Shares or other Common Stock, in each case held by such Stockholder; provided, however, that such securities shall
cease to be Registrable Securities when (x) a Registration Statement registering such securities under the Securities Act has been
declared effective and such securities have been sold or otherwise transferred by the holder thereof pursuant to such effective
Registration Statement or (y) such securities are sold in accordance with Rule 144.

 

“Registration Statement”
means any registration statement of the Company that covers any of the Registrable Securities pursuant to the provisions of this
Agreement, including the Prospectus, amendments and supplements to such Registration Statement, including post-effective amendments,
all exhibits and all materials incorporated by reference in such Registration Statement.

 

“Rule 144”
means Rule 144 promulgated by the SEC pursuant to the Securities Act, as such rule may be amended from time to time, or any similar
rule or regulation hereafter adopted by the SEC as a replacement thereto having substantially the same effect as such rule.

 

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

 

“SEC”
means the Securities and Exchange Commission.

 

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

 

    	 	3	 

     

    

 

“Securities Purchase
Agreement” means the Securities Purchase Agreement, dated as of February 22, 2017, by and among the Company and the Initial
Stockholders.

 

“Shelf Delay Period”
has the meaning set forth in Section 2(d) hereof.

 

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

 

“Stockholders”
means (i) the Initial Stockholders and (ii) each Permitted Transferee who becomes a party to or bound by the provisions of this
Agreement in accordance with the terms hereof.

 

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

 

2.            Shelf
Registration Statements.

 

(a)       Filing
of Registration Statement. After the Company files its annual report on Form 10-K for the year ended December 31, 2016, the
Company shall use its best efforts to promptly, but in no event later than 15 days following such Form 10-K filing, file a Registration
Statement on Form S-3 or such other form under the Securities Act then available to the Company providing for the resale pursuant
to Rule 415 from time to time by the Stockholders of the Registrable Securities beneficially owned by such Stockholders (including
the Prospectus, amendments and supplements to the Registration Statement or Prospectus, including pre- and post-effective amendments,
all exhibits thereto and all material incorporated by reference or deemed to be incorporated by reference, if any, in such shelf
registration statement, the “Shelf Registration Statement”). The Company shall use its reasonable best efforts
to cause the Shelf Registration Statement to be declared effective by the SEC as promptly as practicable following such filing,
but in no event later than 90 days following the date hereof (the “Effectiveness Deadline”). If the Shelf Registration
Statement is not declared effective by the SEC on or prior to the Effectiveness Deadline, the Company will make pro rata payments
to each Stockholder, as liquidated damages and not as a penalty, in an amount equal to 1.5% of the aggregate purchase price initially
paid for such Registrable Securities pursuant to the Securities Purchase Agreement, for each 30-day period or pro rata for any
portion thereof following the Effectiveness Deadline for which the Registration Statement has not been declared effective. Such
payments shall not be an exclusive remedy for such events and shall not affect the right of the Stockholders to seek injunctive
relief under this Agreement. Such payments shall be made to each Stockholder in cash no later than three (3) Business Days after
the end of each 30-day period. The Company shall use its reasonable best efforts to maintain the effectiveness of the Shelf Registration
Statement for a period of at least thirty-six (36) months in the aggregate plus the duration of any Blackout Period or Shelf Delay
Period, or such shorter period that shall terminate when all of the Registrable Securities covered by such Shelf Registration Statement
have been sold pursuant to such Shelf Registration Statement in accordance with the plan of distribution set forth therein.

 

    	 	4	 

     

    

 

(b)       Number
of Fully Marketed Underwritten Offerings. Each Demand Stockholder shall be entitled to request an aggregate of three (3) Fully
Marketed Underwritten Offerings pursuant to the Shelf Registration Statement. If any Demand Stockholder requests a Fully Marketed
Underwritten Offering, the Company shall provide Full Cooperation in connection therewith. An underwritten offering shall not count
as one of the permitted Fully Marketed Underwritten Offerings if the Company does not provide Full Cooperation in connection therewith
or such Demand Stockholders are not able to sell at least 50% in the aggregate of the Registrable Securities desired to be sold
in such Fully Marketed Underwritten Offering. Except as provided in this Section 2(b), there shall be no limitation on the
number of takedowns off the Shelf Registration Statement.

 

(c)       Priority
on Fully Marketed Underwritten Offerings. If in connection with a Fully Marketed Underwritten Offering pursuant to this Section
2 the managing underwriter shall advise the Company that in its opinion the number of securities requested to be included in
such offering exceeds the number that can be sold in such offering without having an adverse effect on such offering, including
the price at which such securities can be sold, then the Company shall include in such Fully Marketed Underwritten Offering the
maximum number of securities that such underwriter advises can be so sold without having such effect, allocated (i) first, to Registrable
Securities requested by the Demand Stockholders to be included in such Fully Marketed Underwritten Offering and (ii) second, among
all securities requested to be included in such registration by any other Persons (including securities to be sold for the account
of the Company) allocated among such Persons in such manner as they may agree.

 

(d)       Restrictions
on Shelf Registrations and Fully Marketed Underwritten Offerings. The Company may postpone the filing or effectiveness of a
Shelf Registration Statement or the commencement of any Fully Marketed Underwritten Offering pursuant to a Shelf Registration Statement
if, based on the good faith judgment of the Board, such postponement is necessary in order to avoid premature disclosure of a matter
that (x) would be required to be made so that such Shelf Registration Statement would not be materially misleading and (y) the
Board has determined would not be in the best interest of the Company to be disclosed at such time; provided, however,
that the Demand Stockholders requesting such Shelf Registration Statement or Fully Marketed Underwritten Offering shall be entitled,
at any time after receiving notice of such postponement, to withdraw such request and, if such request is withdrawn, such Shelf
Registration Statement or Fully Marketed Underwritten Offering thereunder shall not count as one of the permitted Fully Marketed
Underwritten Offerings contemplated in Section 2(b). The Company shall provide written notice to the Demand Stockholders
of (x) any postponement of the filing or effectiveness of the Shelf Registration Statement or a Fully Marketed Underwritten Offering
pursuant to this Section 2(d), (y) the Company’s decision to file or seek effectiveness of such Shelf Registration
Statement or commence such Fully Marketed Underwritten Offering following such postponement and (z) the effectiveness of such Shelf
Registration Statement. The Company may defer the filing or effectiveness of such Shelf Registration Statement or the commencement
of a particular Fully Marketed Underwritten Offering pursuant to this Section 2(d) only once during any 12-month period.
Notwithstanding the provisions of this Section 2(d), the Company may not postpone the filing or effectiveness of a Shelf
Registration Statement or the commencement of a Fully

 

    	 	5	 

     

    

  

Marketed Underwritten Offering
past the date that is the earliest of (a) the date upon which any disclosure of a matter the Board has determined would not be
in the best interest of the Company to be disclosed is disclosed to the public or ceases to be material, (b) thirty (30) days after
the date upon which the Board has determined such matter should not be disclosed and (c) such date that, if such postponement continued,
would result in there being more than forty-five (45) days in the aggregate in any 12-month period during which the filing or effectiveness
of the Shelf Registration Statement or the commencement of one or more Fully Marketed Underwritten Offerings has been so postponed.
The period during which filing or effectiveness of a Shelf Registration Statement or commencement of a Fully Marketed Underwritten
Offering is so postponed hereunder is referred to as a “Shelf Delay Period.” If the Shelf Delay Period exceeds
the periods permitted by this Section 2(d), the Company will make pro rata payments to each Demand Stockholder, as liquidated
damages and not as a penalty, in an amount equal to 1.5% of the aggregate purchase price initially paid for such Registrable Securities
pursuant to the Securities Purchase Agreement, for each 30-day period or pro rata for any portion thereof during which the Shelf
Delay Period exceeds the periods permitted by this Section 2(d). Such payments shall not be an exclusive remedy for such
events and shall not affect the right of the Demand Stockholders to seek injunctive relief under this Agreement. Such payments
shall be made to each Demand Stockholder in cash no later than three (3) Business Days after the end of each 30-day period.

 

3.            Additional
Demand Registrations.

 

(a)       Right
to Request Registration. If at any time during this Agreement, the Company is not then eligible to register for resale the
Registrable Securities on Form S-3 or other registration form for a shelf offering to be made from time to time pursuant to Rule
415 or if Rule 415 is otherwise not available to the Company for the offer and sale of the Registrable Securities, the Registrable
Securities may be registered separate from a Shelf Registration Statement. Any time after the date hereof and subject to the foregoing
sentence and Section 2(a), any Demand Stockholders may request registration for resale under the Securities Act of all or
part of the Registrable Securities pursuant to a Registration Statement separate from the Shelf Registration Statement (a “Demand
Registration”). As promptly as practicable after such request, but in any event within fifteen (15) days of such request
by the Demand Stockholders, the Company shall file a Registration Statement registering for resale such number of shares of Registrable
Securities held by such Demand Stockholders as requested to be so registered (including the Prospectus, amendments and supplements
to such registration statement or Prospectus, including pre- and post-effective amendments, all exhibits thereto and all material
incorporated by reference or deemed to be incorporated by reference, if any, in such registration statement, a “Demand
Registration Statement”). In connection with each such Demand Registration involving an underwritten offering, the Company
shall provide Full Cooperation.

 

(b)       Number
of Demand Registrations. Each Demand Stockholder will be entitled to request a total of three (3) Demand Registrations pursuant
to Section 3(a), minus the number of Fully Marketed Underwritten Offerings completed from the Shelf Registration Statement.
A registration shall not count as one of the permitted Demand Registrations pursuant to Section 3(a) (i) if the related
Demand Registration Statement does

 

    	 	6	 

     

    

 

not become effective, (ii)
if the Demand Stockholders are not able to register and sell at least 50% of the aggregate Registrable Securities requested to
be included in such registration, (iii) if the Company did not provide Full Cooperation in connection therewith or (iv) in the
case of a Demand Registration that would be the last permitted Demand Registration requested pursuant to Section 3(a), if
the Demand Stockholders are not able to register and sell all of the Registrable Securities requested to be included in such registration.

 

(c)       Priority
on Demand Registrations. If a Demand Registration pursuant to this Section 3 involves an underwritten offering and the
managing underwriter shall advise the Company that in its opinion the number of securities requested to be included in such registration
exceeds the number that can be sold in such offering without having an adverse effect on such offering, including the price at
which such securities can be sold, then the Company shall include in such registration the maximum number of securities that such
underwriter advises can be so sold without having such effect, allocated (i) first, to Registrable Securities requested by the
Demand Stockholders to be included in such registration and (ii) second, among all securities requested to be included in such
registration by any other Persons (including securities to be sold for the account of the Company) allocated among such Persons
in such manner as they may agree.

 

(d)       Restrictions
on Demand Registrations. The Company may postpone the filing or the effectiveness of a Demand Registration Statement if, based
on the good faith judgment of the Board, such postponement is necessary in order to avoid premature disclosure of a matter that
(x) would be required to be made so that such Demand Registration Statement would not be materially misleading and (y) the Board
has determined would not be in the best interest of the Company to be disclosed at such time; provided, however,
that the Demand Stockholder requesting such Demand Registration Statement shall be entitled, at any time after receiving notice
of such postponement and before such Demand Registration Statement becomes effective, to withdraw such request and, if such request
is withdrawn, such Demand Registration shall not count as one of the permitted Demand Registrations. The Company shall provide
written notice to the Demand Stockholders of (x) any postponement of the filing or effectiveness of a Demand Registration Statement
pursuant to this Section 3(d), (y) the Company’s decision to file or seek effectiveness of such Demand Registration
Statement following such postponement and (z) the effectiveness of such Demand Registration Statement. The Company may defer the
filing or effectiveness of a particular Demand Registration Statement pursuant to this Section 3(d) only once during any
12-month period. Notwithstanding the provisions of this Section 3(d), the Company may not postpone the filing or effectiveness
of a Demand Registration Statement past the date that is the earliest of (a) the date upon which any disclosure of a matter the
Board has determined would not be in the best interest of the Company to be disclosed is disclosed to the public or ceases to be
material, (b) forty-five (45) days after the date upon which the Board has determined such matter should not be disclosed and (c)
such date that, if such postponement continued, would result in there being more than sixty (60) days in the aggregate in any 12-month
period during which the filing or effectiveness of one or more Registration Statements has been so postponed. The period during
which filing or effectiveness is so postponed hereunder is referred to as a “Demand Delay Period.”

 

    	 	7	 

     

    

 

(e)       Effective
Period of Demand Registrations. After any Demand Registration filed pursuant to this Agreement has become effective, the Company
shall use its reasonable best efforts to keep such Demand Registration Statement effective for a period of at least one hundred
and eighty (180) days from the date on which the SEC declares such Demand Registration Statement effective plus the duration of
any Demand Delay Period and any Blackout Period, or such shorter period that shall terminate when all of the Registrable Securities
covered by such Demand Registration Statement have been sold pursuant to such Demand Registration Statement in accordance with
the plan of distribution set forth therein.

 

4.            Piggyback
Registrations.

 

(a)       Right
to Piggyback. Whenever the Company proposes to publicly sell or register for sale any of its common equity securities pursuant
to a registration statement under the Securities Act (other than a registration statement on Form S-4 or Form S-8 or any similar
successor forms thereto), whether for its own account or for the account of one or more securityholders of the Company which permits
the inclusion of a Stockholder’s Registrable Securities (a “Piggyback Registration”), the Company shall
give prompt written notice to each Stockholder of its intention to effect such sale or registration and, subject to Sections
4(b) and 4(c), shall include in such transaction all Registrable Securities with respect to which the Company has received
a written request from the Stockholders for inclusion therein within fifteen (15) days after the receipt of the Company’s
notice. The Company may postpone or withdraw the filing or the effectiveness of a Piggyback Registration at any time in its sole
discretion, without prejudice to the Stockholders’ right to immediately request a Demand Registration or Shelf Registration
Statement hereunder. A Piggyback Registration shall not be considered a Demand Registration for purposes of Section 3 of
this Agreement or a Shelf Registration Statement for purposes of Section 2 of this Agreement.

 

(b)       Priority
on Primary Registrations. If a Piggyback Registration is initiated as an underwritten primary registration on behalf of the
Company, and the managing underwriter advises the Company in writing that in its opinion the number of securities requested to
be included in such registration exceeds the number that can be sold in such offering without having an adverse effect on such
offering, including the price at which such securities can be sold, then the Company shall include in such registration the maximum
number of shares that such underwriter advises can be so sold without having such effect, allocated (i) first, to the securities
the Company proposes to sell and (ii) second, to the Registrable Securities and other securities requested to be included in such
registration by the Stockholders and other security holders of the Company, pro rata among the holders of such securities on the
basis of the number of shares, including Registrable Securities, requested to be registered by such holders.

 

(c)       Priority
on Secondary Registrations. If a Piggyback Registration is initiated as an underwritten registration on behalf of a holder
of the Company’s securities other than Registrable Securities and such registration permits the inclusion of a Stockholder’s
Registrable Securities, and the managing underwriter advises the Company in writing that in its opinion the number of securities
requested to be included in such

 

    	 	8	 

     

    

 

registration exceeds the
number that can be sold in such offering without having an adverse effect on such offering, including the price at which such securities
can be sold, then the Company shall include in such registration the maximum number of shares that such underwriter advises can
be so sold without having such effect, allocated (i) first, to the securities requested to be included therein by the holder(s)
requesting such registration and (ii) the Registrable Securities and other securities requested to be included in such registration
by the Stockholders, other security holders and the Company, pro rata among the Stockholders, such other security holders and the
Company on the basis of the number of shares requested to be registered by them.

 

5.            Selection
of Underwriters. If any of the Registrable Securities covered by a Demand Registration Statement or a Shelf Registration Statement
is to be sold in an underwritten offering, the Stockholders shall have the right to select the managing underwriter(s) to administer
the offering subject to the prior approval of the Company, which approval shall not be unreasonably withheld or delayed.

 

6.            Holdback
Agreements. The Company
agrees not to, and shall exercise its reasonable best efforts to obtain agreements (in the underwriters’ customary form)
from its directors and executive officers not to, directly or indirectly offer, sell, pledge, contract to sell (including any
short sale), grant any option to purchase or otherwise dispose of any equity securities of the Company or enter into any hedging
transaction relating to any equity securities of the Company during the ninety (90) days beginning on the pricing date of any
underwritten offering pursuant to a Registration Statement (except as part of such underwritten registration or pursuant to registrations
on Form S-4 or Form S-8 or any successor forms thereto) unless the underwriter managing the offering otherwise agrees to a shorter
period.

 

7.            Procedures.

 

(a)       Whenever
one or more Stockholders request that any Registrable Securities be registered or sold pursuant to this Agreement, the Company
shall use its reasonable best efforts to effect the registration of such Registrable Securities in accordance with the intended
methods of disposition thereof, and pursuant thereto the Company shall as promptly as reasonably possible:

 

(i)       prepare
and file with the SEC a Registration Statement with respect to such Registrable Securities and use its reasonable best efforts
to cause such Registration Statement to become effective as soon as practicable thereafter; and before filing a Registration Statement
or Prospectus or any amendments or supplements thereto (including any prospectus supplement for a shelf takedown), furnish to the
Stockholders participating in such Registration Statements and the underwriter(s), if any, copies of all such documents proposed
to be filed, including documents incorporated by reference in the Prospectus and, if requested by such Stockholders, the exhibits
incorporated by reference, provided, that any such item which is available on the SEC’s EDGAR system (or successor thereto)
need not be furnished, and such Stockholders (and the underwriter(s), if any) shall have the opportunity to review and comment
thereon (other than such documents incorporated by reference in the Prospectus), and the Company will not file such

 

    	 	9	 

     

    

 

Registration Statement or
Prospectus or any amendment or supplement thereto in a form to which the Stockholders (and the underwriter(s), if any) reasonably
objects;

 

(ii)       prepare
and file with the SEC such amendments and supplements to such Registration Statement and the Prospectus used in connection therewith
as may be necessary to keep such Registration Statement effective for a period of not less than one hundred and eighty (180) days
(plus the duration of any Delay Period and any Blackout Period), in the case of a Demand Registration Statement or a period of
three years, in the case of a Shelf Registration Statement, or in each case such shorter period as is necessary to complete the
distribution of the securities covered by such Registration Statement and comply with the provisions of the Securities Act with
respect to the disposition of all securities covered by such Registration Statement during such period in accordance with the intended
methods of disposition by such Stockholders thereof set forth in such Registration Statement and, in the case of the Shelf Registration
Statement, prepare such prospectus supplements containing such disclosures as may be reasonably requested by such Stockholders
or any underwriter(s) in connection with each shelf takedown; provided that the Company shall not have any obligation to
include such requested disclosure if the Company reasonably expects that doing so would cause the applicable Prospectus to contain
an 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;

 

(iii)       furnish
to such Stockholders such number of copies of such Registration Statement, each amendment and supplement thereto, the Prospectus
included in such Registration Statement (including each preliminary Prospectus) and such other documents as such Stockholders and
any underwriter(s) may reasonably request in order to facilitate the disposition of the Registrable Securities, provided,
however, that the Company shall have no obligation to furnish copies of a final prospectus if the conditions of Rule 172(c)
under the Securities Act are satisfied by the Company;

 

(iv)       use
its reasonable best efforts to register or qualify such Registrable Securities under such other securities or blue sky laws of
such jurisdictions (domestic or foreign) as such Stockholders and any underwriter(s) reasonably requests and do any and all other
acts and things that may be reasonably necessary or advisable to enable such Stockholders and any underwriter(s) to consummate
the disposition in such jurisdictions of the Registrable Securities (provided, that the Company will not be required to (1) qualify
generally to do business in any jurisdiction where it would not otherwise be required to qualify but for this subparagraph (iv),
(2) subject itself to taxation in any such jurisdiction or (3) consent to general service of process in any such jurisdiction);

 

(v)       notify
such Stockholders and any underwriter(s), at any time when a Prospectus relating thereto is required to be delivered under the
Securities Act, of the occurrence of any event as a result of which the Prospectus included in such Registration Statement contains
an untrue statement of a material fact or omits any material fact necessary to make the statements therein not misleading, and,
at the request of such Stockholders or any underwriter(s), the Company shall prepare a supplement or amendment to such Prospectus
so that, as thereafter delivered to the purchasers of such

 

    	 	10	 

     

    

 

Registrable Securities, such
Prospectus shall not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements
therein not misleading;

 

(vi)       in
the case of an underwritten offering, (A) enter into such customary agreements (including underwriting agreements in customary
form), (B) take all such other actions as such Stockholders or the underwriter(s) reasonably request in order to expedite or facilitate
the disposition of such Registrable Securities (including, without limitation, causing senior management and other Company personnel
to cooperate with such Stockholders and the underwriter(s) in connection with performing due diligence) and (C) cause its counsel
to issue opinions of counsel in form, substance and scope as are customary in underwritten offerings, addressed and delivered to
the underwriter(s) and such Stockholders;

 

(vii)       in
connection with each Demand Registration requested by the Demand Stockholders pursuant to Section 3 and each Fully Marketed
Underwritten Offering requested by the Stockholders pursuant to Section 2, provide Full Cooperation and, in all other cases,
cause members of senior management of the Company to be reasonably available to participate in, and to reasonably cooperate with
the underwriter(s) in connection with customary marketing activities (including select conference calls and one-on-one meetings
with prospective purchasers); provided that such activities shall not unreasonably interfere with the duties of such senior
management in the ordinary course of the Company’s business;

 

(viii)       make
available for inspection by such Stockholders, any underwriter participating in any disposition pursuant to such Registration Statement,
and any attorney, accountant or other agent retained by such Stockholders or underwriter, all financial and other records, pertinent
corporate documents and properties of the Company, and cause the Company’s officers, managers, employees and independent
accountants to supply all information reasonably requested by such Stockholders, underwriter, attorney, accountant or agent in
connection with such Registration Statement;

 

(ix)       provide
a transfer agent and registrar for all such Registrable Securities not later than the effective date of such Registration Statement;

 

(x)       if
requested by underwriter(s) in connection with an underwritten offering, cause to be delivered, immediately prior to the pricing
of such underwritten offering and at the time of closing of the sale of Registrable Securities pursuant to such underwritten offering,
letters from the Company’s independent registered public accountants and any other accountants whose reports are included
or incorporated by reference in such Registration Statement addressed to such Stockholders and each underwriter, if any, stating
that such accountants are independent public accountants within the meaning of the Securities Act and the applicable rules and
regulations adopted by the SEC thereunder, and otherwise in customary form and covering such financial and accounting matters as
are customarily covered by letters of the independent registered public accountants delivered in connection with underwritten public
offerings;

 

    	 	11	 

     

    

 

(xi)       make
generally available to its securityholders a consolidated earnings statement (which need not be audited) for the twelve (12) months
beginning after the effective date of a Registration Statement as soon as reasonably practicable after the end of such period,
which earnings statement shall satisfy the requirements of an earnings statement under Section 11(a) of the Securities Act; and

 

(xii)       promptly
notify such Stockholders and the underwriter or underwriters, if any:

 

(1)       when
the Registration Statement, any pre-effective amendment, the Prospectus or any Prospectus supplement or post-effective amendment
to the Registration Statement has been filed and, with respect to the Registration Statement or any post-effective amendment, when
the same has become effective;

 

(2)       of
any written request by the SEC for amendments or supplements to the Registration Statement or Prospectus;

 

(3)       of
the notification to the Company by the SEC of its initiation of any proceeding with respect to the issuance by the SEC of any stop
order suspending the effectiveness of the Registration Statement; and

 

(4)       of
the receipt by the Company of any notification with respect to the suspension of the qualification of any Registrable Securities
for sale under the applicable securities or blue sky laws of any jurisdiction.

 

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

 

(c)       The
Company shall make available to the Stockholders (and the underwriters, if any) (i) promptly after the same is prepared and publicly
distributed, filed with the SEC, or received by the Company, one copy of each Registration Statement and any amendment thereto,
each preliminary Prospectus and Prospectus and each amendment or supplement thereto, each letter written by or on behalf of the
Company to the SEC or the staff of the SEC (or other governmental agency or self-regulatory body or other body having jurisdiction,
including any domestic or foreign securities exchange), and each item of correspondence from the SEC or the staff of the SEC (or
other governmental agency or self-regulatory body or other body having jurisdiction, including any domestic or foreign securities
exchange), in each case relating to a Shelf Registration Statement or a Demand Registration Statement, and (ii) such number of
copies of a Prospectus, including a

 

    	 	12	 

     

    

 

preliminary Prospectus, and
all amendments and supplements thereto and such other documents as any Stockholder or any underwriter may reasonably request in
order to facilitate the disposition of the Registrable Securities. The Company will promptly notify the Stockholders of the effectiveness
of each Registration Statement or any post-effective amendment. The Company will promptly respond to any and all comments received
from the SEC, with a view towards causing each Registration Statement or any amendment thereto to be declared effective by the
SEC as soon as practicable and shall file an acceleration request as soon as practicable following the resolution or clearance
of all SEC comments or, if applicable, following notification by the SEC that any such Registration Statement or any amendment
thereto will not be subject to review.

 

(d)       The
Company may require the Stockholders to furnish to the Company any other information regarding such Stockholders and the distribution
of such securities as the Company reasonably determines, based on the advice of counsel, is required to be included in any Registration
Statement. Additionally, each Stockholder agrees to cooperate with the Company as reasonably requested by the Company in connection
with the preparation and filing of any Registration Statement hereunder. Each Stockholder agrees that it will comply with the prospectus
delivery requirements of the Securities Act as applicable to it or an exemption therefrom in connection with sales of Registrable
Securities pursuant to a Registration Statement.

 

(e)       Each
Stockholder agrees that, upon notice from the Company of the happening of any event as a result of which the Prospectus included
in such Registration Statement contains an untrue statement of a material fact or omits any material fact necessary to make the
statements therein not misleading (a “Suspension Notice”), such Stockholder will forthwith discontinue disposition
of Registrable Securities pursuant to such Registration Statement for a reasonable length of time not to exceed ten (10) days (thirty
(30) days in the case of an event described in Section 2(d) or Section 3(d)) until such Stockholder is advised in
writing by the Company that the use of the Prospectus may be resumed and is furnished with a supplemented or amended Prospectus
as contemplated by Section 7(a) hereof; provided, however, that such postponement of sales of Registrable
Securities by such Stockholder shall not exceed thirty (30) days in the aggregate in any six-month period. If the Company shall
give the Stockholders any Suspension Notice, the Company shall extend the period of time during which the Company is required to
maintain the applicable Registration Statement effective pursuant to this Agreement by the number of days during the period from
and including the date of the giving of such Suspension Notice to and including the date the Stockholders either are advised by
the Company that the use of the Prospectus may be resumed or receive copies of the supplemented or amended Prospectus contemplated
by Section 7(a) (a “Blackout Period”). In any event, the Company shall not be entitled to deliver more
than a total of two (2) Suspension Notices in any twelve (12) month period. If the Blackout Period exceeds the periods permitted
by this Section 7(e), the Company will make pro rata payments to each Stockholder, as liquidated damages and not as a penalty,
in an amount equal to 1.5% of the aggregate purchase price initially paid for such Registrable Securities pursuant to the Securities
Purchase Agreement, for each 30-day period or pro rata for any portion thereof during which the Blackout Period exceeds the periods
permitted by this Section 7(e). Such payments shall not be an exclusive remedy for such events and shall not affect the
right of

 

    	 	13	 

     

    

 

the Stockholders to seek
injunctive relief under this Agreement. Such payments shall be made to each Stockholder in cash no later than three (3) Business
Days after the end of each 30-day period.

 

(f)       The
Company shall not permit any officer, manager, underwriter, broker or any other person acting on behalf of the Company to use any
free writing prospectus (as defined in Rule 405 under the Securities Act) in connection with any Registration Statement covering
Registrable Securities, without the prior written consent of the Stockholders and any underwriter.

 

(g)       In
no event shall the Company be required to effect more than one underwritten offering hereunder within any six-month period, whether
as a Fully Marketed Underwritten Offering pursuant to the Shelf Registration Statement or, in the event the Company is not eligible
for registration under the Shelf Registration Statement, as an underwritten offering pursuant to a Demand Registration.

 

8.            Registration
Expenses.

 

(a)       All
expenses incident to the Company’s performance of or compliance with this Agreement, including, without limitation, all registration
and filing fees (including SEC registration fees and FINRA filing fees), fees and expenses of compliance with securities or blue
sky laws, listing application fees, printing expenses, transfer agent’s and registrar’s fees, cost of distributing
Prospectuses in preliminary and final form as well as any supplements thereto, and fees and disbursements of counsel for the Company
and all accountants and other Persons retained by the Company (but not including any underwriting discounts or commissions or transfer
taxes, if any, attributable to the sale of Registrable Securities), shall be borne by the Company. In addition, the Company shall
pay its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal
or accounting duties), the expense of any annual audit or quarterly review and the expenses and fees for listing the securities
to be registered on each securities exchange on which they are to be listed.

 

(b)       In
connection with each registration initiated hereunder (whether a Demand Registration, Shelf Registration Statement or a Piggyback
Registration), the Company shall pay, or shall reimburse the Stockholders for, the reasonable fees and disbursements of one law
firm chosen by the Stockholders as their counsel.

 

(c)       The
obligation of the Company to bear the expenses described in Section 8(a) and to pay or reimburse the Stockholders for the
expenses described in Section 8(b) shall apply irrespective of whether a registration, once properly demanded, if applicable,
becomes effective, is withdrawn or suspended, is converted to another form of registration and irrespective of when any of the
foregoing shall occur.

 

9.            Indemnification.

 

(a)       The
Company shall indemnify, to the fullest extent permitted by law, each Stockholder and its officers, directors, employees and Affiliates
and each Person who controls a Stockholder (within the meaning of the Securities Act) against all losses, claims,

    	 	14	 

     

    

 

damages, liabilities and
expenses arising out of or based upon any untrue or alleged untrue statement of material fact contained in any Registration Statement,
Prospectus or preliminary Prospectus or any “issuer free writing prospectus” (as defined in Securities Act Rule 433)
or any amendment thereof or supplement thereto or any omission or alleged omission of a material fact required to be stated therein
or necessary to make the statements therein not misleading or any violation or alleged violation by the Company of the Securities
Act, the Exchange Act or applicable “blue sky” laws, except insofar as the same are made in reliance and in conformity
with information relating to a Stockholder furnished in writing to the Company by such Stockholder expressly for use therein. In
connection with an underwritten offering, the Company shall indemnify such underwriter(s), their officers, employees and directors
and each Person who controls such underwriter(s) (within the meaning of the Securities Act) to the same extent as provided above
with respect to the indemnification of the Stockholders.

 

(b)       In
connection with any Registration Statement in which a Stockholder is participating, such Stockholder shall furnish to the Company
in writing such information as the Company reasonably determines, based on the advice of counsel, is required to be included in
any such Registration Statement or Prospectus, and shall indemnify, to the fullest extent permitted by law, the Company, its officers,
employees, directors, Affiliates, and each Person who controls the Company (within the meaning of the Securities Act) against all
losses, claims, damages, liabilities and expenses arising out of or based upon any untrue or alleged untrue statement of material
fact contained in the Registration Statement, Prospectus, preliminary Prospectus, any “free writing prospectus” (as
defined in Securities Act Rule 433) or any amendment thereof or supplement thereto or any omission or alleged omission of a material
fact required to be stated therein or necessary to make the statements therein not misleading, but only to the extent that the
same are made in reliance and in conformity with information relating to such Stockholder furnished in writing to the Company by
such Stockholder expressly for use therein.

 

(c)       Any
Person entitled to indemnification hereunder shall (i) give prompt written notice to the indemnifying party of any claim with respect
to which it seeks indemnification and (ii) unless in such indemnified party’s reasonable judgment a conflict of interest
between such indemnified and indemnifying parties may exist with respect to such claim, permit such indemnifying party to assume
the defense of such claim with counsel reasonably satisfactory to the indemnified party. If such defense is assumed, the indemnifying
party shall not be subject to any liability for any settlement made by the indemnified party without its consent (but such consent
will not be unreasonably withheld). An indemnifying party who is not entitled to, or elects not to, assume the defense of a claim
shall not be obligated to pay the fees and expenses of more than one counsel (in addition to any local counsel) for all parties
indemnified by such indemnifying party with respect to such claim, unless in the reasonable judgment of any indemnified party there
may be one or more legal or equitable defenses available to such indemnified party that are in addition to or may conflict with
those available to another indemnified party with respect to such claim. Failure to give prompt written notice shall not release
the indemnifying party from its obligations hereunder.

 

    	 	15	 

     

    

 

(d)       The
indemnification provided for under this Agreement shall remain in full force and effect regardless of any investigation made by
or on behalf of the indemnified party or any officer, director or controlling Person of such indemnified party and shall survive
the transfer of securities.

 

(e)       If
the indemnification provided for in or pursuant to this Section 9 is due in accordance with the terms hereof, but is held
by a court to be unavailable or unenforceable in respect of any losses, claims, damages, liabilities or expenses referred to herein,
then each applicable indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or
payable by such indemnified Person as a result of such losses, claims, damages, liabilities or expenses in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one hand and of the indemnified party on the other in
connection with the statements or omissions that result in such losses, claims, damages, liabilities or expenses as well as any
other relevant equitable considerations. The relative fault of the indemnifying party on the one hand and of the indemnified Person
on the other shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material
fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or
by the indemnified party, and by such party’s relative intent, knowledge, access to information and opportunity to correct
or prevent such statement or omission. In no event shall the liability of a Stockholder be greater in amount than the amount of
net proceeds received by such Stockholder upon such sale.

 

10.          Rule
144. The Company covenants that it will file the reports required
to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder, and
it will take such further action as the Stockholders may reasonably request to make available adequate current public information
with respect to the Company meeting the current public information requirements of Rule 144(c) under the Securities Act, to the
extent required to enable the Stockholders to sell Registrable Securities without registration under the Securities Act within
the limitation of the exemptions provided by (i) Rule 144 under the Securities Act, as such Rule 144 may be amended from time
to time, or (ii) any similar rule or regulation hereafter adopted by the SEC. Upon the request of the Stockholders, the Company
will deliver to the Stockholders a written statement as to whether it has complied with such information and requirements. 

 

11.          Transfer
of Registration Rights.

 

(a)       Each
Stockholder may in its sole discretion transfer all or any portion of its then-remaining registration rights under Sections
2 through 10 of this Agreement to (i) any Affiliate of such Stockholder or (ii) any transferee who would satisfy the
definition of a “Demand Stockholder” as a result of the acquisition of Purchased Shares (other than pursuant to an
effective Registration Statement) (each, a “Permitted Transferee”). Any transfer of registration rights pursuant
to this Section 11(a) shall be effective upon receipt by the Company of (x) written notice from the Stockholder stating
the name and address of any Permitted Transferee and identifying the amount of Registrable Securities with respect to which the
rights under this Agreement are being transferred and the nature of the rights so transferred and (y) a joinder, in the form attached

    	 	16	 

     

    

  

as Exhibit A hereto
(the “Joinder”), providing that the Permitted Transferee shall be bound by and shall fully comply with the terms
of this Agreement (including the provisions of this Section 11) or another written agreement from the transferee to be bound
by the terms of this Agreement. The Company agrees to execute any Joinder promptly upon receipt. In connection with any such transfer,
the term “Stockholders” as used in this Agreement shall, where appropriate to assign such rights to such Permitted
Transferee, be deemed to include the Permitted Transferee. The Stockholders and such Permitted Transferees may exercise the registration
rights hereunder in such proportion (not to exceed the then-remaining registration rights hereunder) as they shall agree among
themselves.

 

(b)       After
such transfer, the transferring Stockholder shall retain its rights under this Agreement with respect to all other Registrable
Securities owned by such Stockholder. Upon request of the transferring Stockholder, the Company shall execute a Joinder or another
registration rights agreement with such Permitted Transferee or a proposed transferee substantially similar to this Agreement.

 

12.          Conversion
of Other Securities. If a Stockholder offers Registrable Securities by forward sale, or any
options, rights, warrants or other securities issued by it or any other Person that are offered with, convertible into or exercisable
or exchangeable for any Registrable Securities, the Registrable Securities subject to such forward sale or underlying such options,
rights, warrants or other securities shall be eligible for registration pursuant to Sections 2, 3 and 4 of
this Agreement.

 

13.          Miscellaneous.

 

(a)       Notices.
All notices, requests, consents and other communications required or permitted hereunder shall be in writing and shall be hand
delivered or mailed postage prepaid by registered or certified mail or by e-mail:

 

If to the Company:

 

Internap Corporation

1 Enterprise Ave. N.

Secaucus, NJ 07094

Attention: Richard P. Diegnan

Email: rdiegnan@inap.com

 

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

 

Jenner & Block LLP

353 North Clark Street

Chicago, IL 60654

Attention:Thomas A. Monson

Email:tmonson@jenner.com

 

If to the Initial Stockholder, to the address set forth
for each such Initial Stockholder on its signature page hereto.

 

    	 	17	 

     

    

 

If to a Permitted Transferee,
to the address of such Permitted Transferee set forth in the transfer documentation provided to the Company;

 

or at such other address
as such party each may specify by written notice to the others, and each such notice, request, consent and other communication
shall for all purposes of the Agreement be treated as being effective or having been given when delivered personally or transmitted
by email, upon one Business Day after being deposited with a courier if delivered by courier, or, if sent by mail, at the earlier
of its receipt or 72 hours after the same has been deposited in a regularly maintained receptacle for the deposit of United States
mail, addressed and postage prepaid as aforesaid.

 

(b)       No
Waivers. No failure or delay by any party in exercising any right, power or privilege hereunder shall operate as a waiver thereof
nor shall any single or partial exercise thereof preclude any other or further exercise thereof or the exercise of any other right,
power or privilege. The rights and remedies herein provided shall be cumulative and not exclusive of any rights or remedies provided
by law.

 

(c)       Successors
and Assigns. The provisions of this Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns. If the Company’s outstanding Common Stock is converted into or exchanged or substituted
for other securities issued by any other Person, as a condition to the effectiveness of a merger, consolidation, reclassification,
share exchange or other transaction pursuant to which such conversion, exchange, substitution or other transaction takes place,
such other Person shall automatically become bound hereby with respect to such other securities constituting Registrable Securities
and, if requested by the Stockholders or a Permitted Transferee, shall further evidence such obligation by executing and delivering
to the Stockholders and Permitted Transferees a written agreement to such effect in form and substance satisfactory to such Stockholder.

 

(d)       Governing
Law. The internal laws, and not the laws of conflicts (other than Section 5-1401 of the General Obligations Law of the State
of New York), of New York shall govern the enforceability and validity of this Agreement, the construction of its terms and the
interpretation of the rights and duties of the parties.

 

(e)       Exclusive
Jurisdiction. Any suit, action or proceeding seeking to enforce any provision of, or based on any matter arising out of or
in connection with, this Agreement or the transactions contemplated hereby may only be brought in any federal or state court located
in the County and State of New York, and each of the parties hereby consents to the exclusive jurisdiction of such courts (and
of the appropriate appellate courts therefrom) in any such suit, action or proceeding and irrevocably waives, to the fullest extent
permitted by law, any objection which it may now or hereafter have to the laying of the venue of any such suit, action or proceeding
in any such court or that any such suit, action or proceeding which is brought in any such court has been brought in an inconvenient
forum. Process in any such suit, action or proceeding may be served on any party anywhere in the world, whether within or without
the jurisdiction of any such court. Without limiting the foregoing, each party agrees that service of process on such party as
provided in Section 13(a) shall be deemed effective service of process on such party.

 

    	 	18	 

     

    

 

(f)       Waiver
of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY.

 

(g)       Counterparts;
Effectiveness. This Agreement may be executed in any number of counterparts (including by facsimile) and by different parties
hereto in separate counterparts, with the same effect as if all parties had signed the same document. All such counterparts shall
be deemed an original, shall be construed together and shall constitute one and the same instrument. This Agreement shall become
effective when each party hereto shall have received counterparts hereof signed by all of the other parties hereto.

 

(h)       Entire
Agreement. This Agreement contains the entire agreement between the parties hereto with respect to the subject matter hereof
and supersedes and replaces all other prior agreements, written or oral, among the parties hereto with respect to the subject matter
hereof.

 

(i)       Captions.
The headings and other captions in this Agreement are for convenience of reference only and shall not be used in interpreting,
construing or enforcing any provision of this Agreement.

 

(j)       Severability.
If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction or other authority
to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall
remain in full force and effect and shall in no way be affected, impaired or invalidated so long as the economic or legal substance
of the transactions contemplated hereby is not affected in any manner materially adverse to any party. Upon such a determination,
the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely
as possible in an acceptable manner in order that the transactions contemplated hereby be consummated as originally contemplated
to the fullest extent possible.

 

(k)       Amendments.
The provisions of this Agreement, including the provisions of this sentence, may not be amended, modified or supplemented, and
waivers or consents to or departures from the provisions hereof may not be given, without the written consent of (i) the Company
and (ii) the Stockholders collectively then holding Purchased Shares representing more than 50% of the total number of Purchased
Shares then held by the Stockholders.

 

(l)       Equitable
Relief. The parties hereto, in addition to being entitled to exercise all rights granted by law, including recovery of damages,
will be entitled to specific performance of their respective rights under this Agreement. Each party acknowledges that a breach
by it of its obligations hereunder will cause irreparable harm to the other party. Each party acknowledges that the remedy at law
for a breach of its obligations under this Agreement will be inadequate and agrees, in the event of a breach or threatened breach
by such party of the provisions of this Agreement, that the other party hereto shall be entitled, in addition to all other available
remedies at law or in equity, to an

 

    	 	19	 

     

    

 

injunction or injunctions
restraining, preventing or curing any breach of this Agreement and to enforce specifically the terms and provisions hereof, without
the necessity of showing economic loss and without any bond or other security being required.

 

[Signature Page Follows]

 

    	 	20	 

     

    

 

IN WITNESS WHEREOF, this
Registration Rights Agreement has been duly executed by each of the parties hereto as of the date first written above.

 

	 	
        INTERNAP
        CORPORATION

	 	 	 	
 

	 	By:	 	
        /s/
        Peter         D. Aquino

	 	Name:	 	Peter D. Aquino
	 	Title:	 	President & Chief Executive Officer

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, this Registration Rights Agreement has been
duly executed by each of the parties hereto as of the date first written above.

 

	 	THE GABELLI SMALL CAP GROWTH FUND
	 	 
	 	By:	 	
        /s/
        David         Goldman

	 	Name:	 	David Goldman
	 	Title:	 	Gabelli Funds, LLC

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, this Registration Rights Agreement has been
duly executed by each of the parties hereto as of the date first written above.

 

	 	Avenir Corporation, on behalf of certain 

advisory accounts
	 	 	 
	 	By:	/s/ Peter C. Keefe
	 	Name:	Peter C. Keefe
	 	Title:	Executive Chairman

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

 

IN WITNESS WHEREOF, this Registration Rights Agreement has been
duly executed by each of the parties hereto as of the date first written above.

 

	 	Park West Partners International, Limited
	 	 
	 	By: Park West Asset Management LLC
	 	Its: Investment Manager
	 	 
	 	By:	 	
        /s/
        Grace         Jimenez

	 	Name:	 	Grace Jimenez
	 	Title:	 	Chief Financial Officer

 

	 	Address:
	 	Park West Asset Management LLC
	 	900 Larkspur Landing Circle, Suite 165
	 	Larkspur, CA 94939
	 	Phone: (415) 524-2900

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

  

IN WITNESS WHEREOF, this Registration Rights Agreement has been
duly executed by each of the parties hereto as of the date first written above.

 

	 	Park West Investors Master Fund, Limited
	 	 
	 	By: Park West Asset Management LLC
	 	Its: Investment Manager
	 	 
	 	By:	 	
        /s/
        Grace         Jimenez

	 	Name:	 	Grace Jimenez
	 	Title:	 	Chief Financial Officer

 

	 	Address:
	 	Park West Asset Management LLC
	 	900 Larkspur Landing Circle, Suite 165
	 	Larkspur, CA 94939
	 	Phone: (415) 524-2900

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

  

IN WITNESS WHEREOF, this Registration Rights Agreement has been
duly executed by each of the parties hereto as of the date first written above.

 

	 	Nineteen77 Global Multi-Strategy Alpha (Levered) Master Limited
	 	By: UBS O’Connor LLC, as investment advisor
	 	 	 
	 	By:	/s/Andrew Hollenbeck / Nicholas Vagra
	 	Name:	Andrew Hollenbeck / Nicholas Vagra
	 	Title:	Manager, General Counsel / Manager, Chief Operating Officer

 

[Signature Page to Registration Rights Agreement]

 

     

     

    

  

IN WITNESS WHEREOF, this Registration Rights Agreement has been
duly executed by each of the parties hereto as of the date first written above.

 

	 	O’Connor Global Multi-Strategy Alpha  Master Limited
	 	By: UBS O’Connor LLC, as investment advisor
	 	 	 
	 	By:	 /s/Andrew Hollenbeck / Nicholas Vagra
	 	Name:	Andrew Hollenbeck / Nicholas Vagra
	 	Title:	Manager, General Counsel /
	 	 	Manager, Chief Operating Officer

 

[Signature Page to Registration Rights Agreement]

  

     

     

    

 

Exhibit A

 

FORM OF JOINDER

JOINDER AGREEMENT

to

registration
RIGHTS AGREEMENT

 

, 20

 

Reference is made to that
certain Registration Rights Agreement, dated as of February 22, 2017, by and among Internap Corporation, a Delaware corporation
(the “Company”), and the Initial Stockholders (as amended from time to time, the “Registration Rights
Agreement”). Capitalized terms used herein but not defined herein shall have the meanings set forth in the Registration
Rights Agreement. This Joinder Agreement is being delivered to the Company in accordance with Section 11(a) of the Registration
Rights Agreement.

 

By executing and delivering
this Joinder Agreement, [●], confirms to and agrees to (i) become a party to the Registration Rights Agreement as a Stockholder
and (ii) be bound by, and comply with, the terms and provisions of the Registration Rights Agreement applicable to Stockholders
thereunder.

 

By executing and delivering
this Joinder Agreement, the Company, (i) acknowledges that this Joinder Agreement is satisfactory to fulfill all requirements for
the acceptance of [●] as Stockholder pursuant to Section 11(a) of the Registration Rights Agreement and (ii) confirms
[●] is hereby admitted as a Stockholder of the Company.

 

This Joinder Agreement may
be executed in any number of counterparts, each of which shall be considered an original and all of which shall together constitute
one and the same instrument.

 

This Joinder Agreement shall
be governed by, and construed in accordance with, the laws of the State of New York.

 

[Signature Page Follows]

 

     

     

    

 

IN WITNESS WHEREOF, the parties
hereto have caused this Joinder Agreement to be executed as of the date first above written.

 

	 	Stockholder:
	 	 	 
	 	[●]	 	 
	 	 	 
	 	By:	 	

	 	 	 	Name:
	 	 	 	Title:
	 	 
	 	Company
	 	 
	 	Internap Corporation, a Delaware corporation
	 	 	 
	 	By:	 	

	 	 	 	Name:
	 	 	 	Title:

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