Document:

Form of Warrant

 EXHIBIT 4.5 
 THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE OF THIS WARRANT HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED (THE “SECURITIES ACT”), AND MAY NOT BE SOLD, OFFERED
FOR SALE ASSIGNED, TRANSFERRED OR OTHERWISE DISPOSED OF, UNLESS REGISTERED PURSUANT TO THE PROVISIONS OF THE SECURITIES ACT AND THE SECURITIES LAWS OF ANY APPLICABLE STATES OR AN OPINION OF COUNSEL IS OBTAINED STATING THAT SUCH DISPOSITION IS IN
COMPLIANCE WITH AN AVAILABLE EXEMPTION FROM SUCH REGISTRATION REQUIREMENTS. THIS WARRANT IS ALSO SUBJECT TO TRANSFER RESTRICTIONS CONTAINED IN THIS WARRANT 
  

			
	NO.     	  	 WARRANT TO PURCHASE
              SHARES OF
 COMMON STOCK

 WARRANT TO PURCHASE 

COMMON STOCK OF 
 ACTIVE SPORTS USA, INC. 
 This certifies that, for value received,
                    , or his registered permitted assigns (collectively, the “Holder”), is entitled to purchase from Active Sports
USA, Inc., a Florida corporation (the “Company”), subject to the terms and conditions set forth below’ at any time on or after the date of an IPO (as hereinafter defined) or simultaneously with a Sale of the Company (as hereinafter
defined) and prior to the Expiration Date (as hereinafter defined),              shares of Common Stock (as hereinafter defined) at a purchase price of $1.00 per share (the
“Purchase Price”). The Purchase Price and the number of shares purchasable hereunder are subject to adjustment as provided below. 
 ARTICLE I 
 DEFINITIONS 

SECTION I.1 As used in this Warrant, the following terms shall have the respective meanings set forth herein. 

(a) “Business Day” means a day other than a Saturday, Sunday or other day on which banks located in the State of Florida are
authorized by law to remain closed. 
 (b) “Common Stock” means the common stock, par value $.01 per share, of the
Company. 
 (c) “Expiration Date” means (i) with respect to an IPO, 5:00 p.m., Eastern time, on the date
which is ninety (90) days after the date of the IPO or (ii) with respect to a Sale of the Company, the date and time of consummation of such transaction. 
 (d) “IPO” means the initial underwritten offer and sale of Common Stock pursuant to a registration statement on Form S-l, SB-1 or similar form that has been declared effective by the
Securities and Exchange Commission (or any successor agency) pursuant to the Securities Act (or any successor statute). 

 (e) “Sale of the Company” means any transaction pursuant to which all or
substantially all of the business or operations of the Company are directly or indirectly sold, assigned or transferred to an arms-length purchaser through the sale, exchange or other transfer! by purchase, merger or otherwise, of the assets or
equity of the Company. 
 ARTICLE II 
 DURATION AND EXERCISE OF THE WARRANT 
 SECTION II.1 This Warrant may be
exercised simultaneously with a Sale of the Company or at any time on or after the date of an IPO and prior to the Expiration Date. 
 SECTION II.2 This Warrant shall be exercised in accordance with the terms set forth herein. 
 (a) The Holder may exercise this Warrant in whole or in part (but not in denominations of fewer than five thousand (5,000) shares of Common Stock except upon an exercise of the Warrant with respect
to the remaining balance of shares of Common Stock purchasable hereunder at the time of exercise) by surrender of this Warrant, with the Subscription Form (attached hereto) duly executed, to the Company at its principal office at 4300 S.W.
73rd Ave., Suite 107B, Miami, Florida 33155, together
with payment of the aggregate Purchase Price in lawful money of the United States, or by certified check or official bank check payable in immediately available United States dollars to the order of the Company, subject to compliance with all the
other terms and conditions set forth in this Warrant. 
 (b) Upon receipt of this Warrant with the Subscription Form duly
executed and accompanied by payment of the aggregate Purchase Price for the shares of Common Stock for which this Warrant is being exercised, the Company shall cause to be issued to the Holder certificates representing the aggregate number of whole
shares (as provided in Section 2.2(e) hereof) of Common Stock issuable upon such exercise. The stock certificate or certificates so issued shall be in such denominations as are required for delivery to the Holder, and the Company will deliver
those certificates to the Holder as soon as practicable after the exercise of this Warrant. 
 (c) If the Holder exercises this
Warrant with respect to fewer than all of the shares of Common Stock that may be purchased by the exercise of this Warrant, and such exercise occurs prior to the Expiration Date, then the Company shall execute and deliver to the Holder a new Warrant
for the balance of the unpurchased shares of Common Stock called for by this Warrant, which new Warrant shall in all other respects be identical to this Warrant. 
 (d) The Company covenants and agrees that it will pay when due any and all taxes which may be payable with respect to the issue of any shares of Common Stock upon the exercise of this Warrant other than
income or similar taxes of any kind imposed upon the Holder of this Warrant. 
 (e) The Company shall not be required to issue a
fractional share of Common Stock upon the exercise of this Warrant. As to any fraction of a share which the Holder would otherwise be entitled to purchase upon such exercise, the Company shall round down to the nearest whole number of shares of
Common Stock and shall not be required to issue a fractional share of Common Stock or to make any payment in lieu of issuing a fractional share of Common Stock. 

  
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 ARTICLE III 
 ADJUSTMENTS UPON CERTAIN EVENTS; NOTICE OF CERTAIN EVENTS 
 SECTION III.1
The Purchase Price and the number and type of securities issuable on the exercise of this Warrant shall be subject to adjustment from time to time as follows. 
 (a) If the Company issues any shares of Common Stock as a dividend on the Common Stock, the Purchase Price then in effect will be proportionately reduced at the opening of business on the day following
the date fixed for the determination of shareholders entitled to receive the dividend or other distribution. For example, if the Company distributes one share of Common Stock as a dividend on each outstanding share of Common Stock the Purchase Price
would be reduced by 50%. 
 (b) If by reason of a stock split or reclassification (i) the outstanding shares of Common
Stock are subdivided into a greater number of shares of Common Stock, then the Purchase Price will be proportionately reduced at the opening of business on the day following the day when the subdivision becomes effective or (ii) the outstanding
shares of Common Stock are combined into a smaller number of shares of Common Stock, then the Purchase Price will be proportionately increased at the opening of business on the day following the day when the combination becomes effective.

 (c) If by reason of a merger, consolidation, recapitalization or similar corporate event (which does not constitute a Sale of
the Company), the holders of Common Stock receive securities or assets other than Common Stock, then effective upon the effective date of such event, the Holder shall have the right to receive, upon the exercise of this Warrant, the kind and amount
of securities or assets which the Holder would have owned or have been entitled to receive after such event if the Warrant had been exercised immediately prior to such event. 
 SECTION III.2 Upon each adjustment of the Purchase Price pursuant to Section 3.1 hereof, this Warrant will after the adjustment evidence the right to purchase, at the adjusted Purchase Price, the
number of shares (calculated to the nearest hundredth) obtained by (i) multiplying the number of shares issuable on exercise of this Warrant immediately prior to the adjustment by the Purchase Price in effect immediately prior to the adjustment
and (ii) dividing the resulting product by the Purchase Price in effect immediately after the adjustment. However, the Company will not be required to issue a fractional share or to make any payment in lieu of issuing a fractional share.

 SECTION III.3 In any case in which Section 3.1 hereof shall require that an adjustment become effective as of a record
date for an event, the Company may defer until the occurrence of such event issuing to the Holder who exercised the Warrant after such record date and before the occurrence of such event the additional shares of Common Stock issuable upon such
exercise by reason of the adjustment which was required by such event over and above the shares of Common Stock issuable upon such exercise before giving effect to such adjustment. 

  
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 SECTION III.4 Upon any adjustment of the Purchase Price or the number of shares of Common
Stock issuable on the exercise of this Warrant, the Company shall give written notice thereof on the effective date of such adjustment, by first class mail, postage prepaid, to the Holder at the address of the Holder as shown on the records of the
Company, which notice shall state the Purchase Price resulting from such adjustment and the adjustment in the number of shares of Common Stock resulting from such adjustment and set forth in reasonable detail the method of calculation and the facts
upon which such calculation is based. 
 SECTION III.5 If at any time when this Warrant is outstanding the Company: 

(a) intends to consummate an IPO; 
 (b) declares a dividend (or authorizes any other distribution) on its Common Stock payable otherwise than in cash; 
 (c) authorizes a reclassification, stock split or recapitalization of the Common Stock, or a consolidation or merger to which the Company is a party or a sale or transfer of all or substantially all the
assets of the Company (including a Sale of the Company); or 
 (d) authorizes a voluntary or involuntary dissolution,
liquidation or winding up of the Company; 
 the Company will mail written notice of such action to the Holder at least 20 days prior to the
intended consummation date of the IPO or Sale of the Company or the record date, or other date, for determining the shareholders entitled to receive the dividend or distribution, or the securities or other property deliverable as a result of such
action. 
 SECTION III.6 The form of this Warrant need not be changed because of any adjustment to the Purchase Price or to the
number of shares of Common Stock issuable on the exercise of this Warrant. Warrants issued after such adjustment may continue to describe the Purchase Price and the number of shares of Common Stock which were described in this Warrant as initially
issued. 
 ARTICLE IV 
 OTHER PROVISIONS RELATING TO THE RIGHTS OF THE HOLDER 
 SECTION IV.1 If
this Warrant is duly exercised, then the Holder will for all purposes be deemed to become the holder of record of the shares of Common Stock as to which this Warrant is exercised on, the certificate for such shares will be dated, and this Warrant
will be deemed to have been exercised on, the date this Warrant is surrendered for exercise and the aggregate Purchase Price paid in accordance with Section 2.2 hereof, except that if that date is not a Business Day, then the Holder will be
deemed to become the record holder of the shares of Common Stock on, the certificate will be dated, and this Warrant will be deemed to have been exercised on the next succeeding Business Day. The Holder will not be entitled to any rights whatsoever
as a holder of the shares of Common Stock, including the right to vote and to receive dividends, until the Holder becomes or is deemed to become the holder of such shares pursuant to the terms hereof. 

  
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 SECTION IV.2 The Company covenants and agrees that it will at all times reserve and keep
available for the exercise of this Warrant a sufficient number of authorized but unissued shares of Common Stock to permit the exercise in full of this Warrant. 
 SECTION IV.3 The Company covenants and agrees that all shares of Common Stock issued upon the exercise of this Warrant and against payment of the aggregate Purchase Price in accordance with
Section 2.2 hereof will be validly issued, fully paid and nonassessable. 
 SECTION IV.4 The Company covenants and agrees
that it will from time to time take all such action as may be required to assure that the par value per share of the Common Stock is at all times not greater than the current Purchase Price. 

ARTICLE V 

RESTRICTIONS ON TRANSFERABILITY; OTHER AGREEMENTS OF HOLDER 

SECTION V.1 The Holder shall not sell, transfer, assign, convey, pledge, donate, hypothecate, grant an option to, or otherwise encumber
or dispose of this Warrant, without the prior written consent of the Company which may be withheld at the sole discretion of the Company. 
 SECTION V.2 Any transfer permitted under this Warrant will be made by surrender of this Warrant to the Company at its principal office with the Form of Assignment (attached hereto) duly executed and funds
sufficient to pay any transfer tax. In such event the Company will, without charge, execute and deliver a new Warrant to and in the name of the assignee named in the instrument of assignment and this Warrant will promptly be canceled, and if the
assignor does not transfer all of its Warrants hereunder, the Company will execute and deliver a new Warrant to and in the name of the assignor representing the remaining Warrants held by the assignor. 

SECTION V.3 The Holder agrees, if requested by the Company and the managing underwriter of a firm-commitment initial public offering of
Common Stock, not to sell, transfer, assign, convey, pledge, donate, hypothecate, grant an option to or otherwise encumber or dispose of whether in privately negotiated or open market transactions, any Common Stock held by the Holder during the
ninety (90) day period following the effective date of the IPO or such other period requested by the managing underwriter but in no event for a period in excess of two hundred seventy (270) days following such effective date. 

ARTICLE VI 

REPLACEMENT OF WARRANTS 
 SECTION VI.1 Upon receipt by the Company of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of this Warrant, and, in the case of loss, theft or destruction, of
reasonably satisfactory indemnification of the Company by the Holder, or, in the case of mutilation, upon surrender of the mutilated Warrant, the Company will execute and deliver a new Warrant bearing the same terms and date as the lost, stolen or
destroyed Warrant, which will thereupon become void. 

  
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 ARTICLE VII 
 MISCELLANEOUS 
 SECTION VII.1 Unless the shares of Common Stock issuable
upon exercise of this Warrant have been registered under the Securities Act, upon exercise of the Warrant and the issuance of the shares of Common Stock issuable thereon, all certificates representing such shares shall bear on the face thereof
substantially the following legend: 
 The securities represented by this certificate have not been registered under the
Securities Act of 1933, as amended, and may not be sold, offered for sale, assigned, transferred or otherwise disposed of, unless registered pursuant to the provisions of that Act or unless an opinion of counsel satisfactory to the issuer is
obtained stating that such disposition is in compliance with an available exemption from such registration. 
 SECTION VII.2 All
notices and other communications under this Warrant must be in writing. Any notice or communication to the Company will be effective upon the earlier of actual receipt or the third business day after mailing by first-class mail (which shall be
certified or registered, return receipt requested), postage prepaid, addressed (until another address is designated by the Company) as follows: 
 Active Sports USA, Inc. 
 4300 S.W. 73rd Ave.. Suite 107B 

Miami, Florida 33155 
 Attention: James M. Woodman, IV, President 
 Any notice or demand authorized
by this Warrant to be given or made by the Company to the Holder must be given in accordance with Section 3.5. 
 SECTION
VII.3 All the covenants and provisions of this Warrant by or for the benefit of the Company or the Holder will bind and inure to the benefit of their respective successors and permitted assigns, if any. This Warrant shall be binding upon any
corporation or other such entity succeeding to the Company by consolidation, merger or acquisition of all or substantially all of the Company’s assets or like transaction. 

SECTION VII.4 The validity, interpretation and performance of this Warrant will be governed by the laws of the State of Florida without
regard to the principles of conflicts of laws thereof. This Warrant shall be subject to the exclusive jurisdiction of the courts of Miami-Dade County, Florida. The parties irrevocably and expressly agree to submit to the jurisdiction of the courts
of the State of Florida located in Miami-Dade County for the purpose of resolving any disputes among the parties relating to this Warrant or the transactions contemplated hereby. The parties irrevocably waive, to the fullest extent permitted by law,
any objection which they may now or hereafter have to such exclusive jurisdiction. 
 SECTION VII.5 Nothing in this Warrant will
give any person, corporation or other entity other than the Company and the Holder any right or claim under this Warrant, and all agreements in this Warrant will be for the sole benefit of the Company, the Holder and their respective successors and
permitted assigns, if any. 

  
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 SECTION VII.6 This Warrant may be modified or amended or the provisions hereof waived only
with the written consent of the Company and the Holder, except that modifications may be made by the Company which give effect to the adjustment provisions of Article III hereof. 

SECTION VII.7 The Article headings in this Warrant are for convenience only, are not part of this Warrant and will not affect the
interpretation of its terms. 
 IN WITNESS WHEREOF, this Warrant has been duly executed by the Company as of the
    day of                     , 1999. 

 

			
	 ACTIVE SPORTS USA, INC.

		
	By:	 	  

	Name:	 	James Monroe Woodman, IV
	Title:	 	President

  
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 SUBSCRIPTION FORM 

To Be Executed By The Warrant Holder 
 In Order To Exercise The Warrant 
 To:   Active Sports USA, Inc. 

The undersigned
                     (Social Security, Passport, or Tax Identification Number
                    ), hereby irrevocably elects to exercise the right of purchase represented by the within Warrant for and to purchase
thereunder,                      shares of Common Stock of Active Sports USA, Inc., in the amount of
$            . The undersigned requests that certificates for those shares of Common Stock be issued as follows: 

 

			
	 Full Name of

Undersigned:
	  	 _______________________________

		
	 Address of

Undersigned:
	  	 _______________________________

		
	 Name to

Deliver to:
	  	 _______________________________

		
	 Address to

Deliver to:
	  	 _______________________________

 IN WITNESS WHEREOF, this Subscription Form has been duly executed by the undersigned as of the      day of
                ,                 . 

 

			
	Signature:	 	  

  
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 FORM OF ASSIGNMENT 

(To Be Executed Only Upon An Assignment) 
 FOR VALUE RECEIVED, the undersigned hereby sells, assigns, and transfers unto
                         the right to purchase
             shares of Common Stock of Active Sports USA, Inc. evidenced by the within Warrant. 

 

			
	 Signature:
	 	  

 

			
	 Signature Guaranteed:
	  	
		
	  
	  	

  
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 SCHEDULE A 
  

					
	Warrantholder	  	Number of Shares	 
	 Jane Townsend
	  	 	78	  
	 David Raucher
	  	 	3,948	  
	 Jonathan Malone
	  	 	78	  
	 Ruth and Michael Sember
	  	 	3,158	  
	 Jeffrey Tompkins
	  	 	394	  
	 James Monroe Woodman III
	  	 	394Note Purchase Agreement

 EXHIBIT 4.6 
 NOTE PURCHASE AGREEMENT 
 THIS NOTE PURCHASE AGREEMENT (the
“Agreement”) is made as of September 29, 2009, by and among The Active Network, Inc., a Delaware corporation (the “Company”), and the investors (collectively, the “Lenders”) identified on the
Schedule of Lenders attached hereto (the “Schedule of Lenders”). 
 WHEREAS, certain of the Lenders
and the Company have negotiated a non-binding letter of intent which contemplates an investment by the Lenders in the Company (the “Investment”): 
 WHEREAS, the Lenders intend to provide the Company the amounts set forth next to their names on the Schedule of Lenders; 
 WHEREAS, the parties intend for the Company to issue in return for such consideration promissory notes convertible into shares of the Company’s common stock; 

NOW, THEREFORE, in consideration of the mutual promises and covenants set forth herein, the parties hereby agree as follows: 

1. Amount and Terms of the Notes. 
 1.1 Promissory Notes. The Lenders agree severally and not jointly, on the terms and subject to the conditions specified in this Agreement, to lend to the Company the amounts set forth opposite each
Lender’s name in the Schedule of Lenders. In return for the consideration provided by each Lender, the Company shall sell and issue to each of the Lenders a convertible promissory note in the form attached hereto as Exhibit A
(each a “Note,” and collectively the “Notes”). Each such Note shall have a principal balance equal to one hundred percent (100%) of the aggregate amount of consideration provided by such Lender (i.e., the
aggregate amount paid for the Note) and shall be dated as of the date such consideration is provided to the Company. 
 1.2 Closing. (a) The purchase and sale of the Notes hereunder shall take place at two closings (each of which is referred to in this Agreement as a “Closing”). The initial
Closing (the “Initial Closing”) shall take place on or before September 29, 2009 or such other date as the Company and the Purchasers purchasing Notes in such Initial Closing shall agree and the subsequent Closing shall take
place on such date as the Company and the Purchasers purchasing Notes in such subsequent Closing shall agree; provided, that such second Closing shall not occur later than the one (1) month anniversary of the Initial Closing (each such
closing date is referred to in this Agreement as a “Closing Date,” and the Initial Closing hereunder is referred to in this Agreement as the “Initial Closing Date”). The Initial Closing shall consist of the purchase
and sale of Notes in an aggregate principal amount of at least three million dollars ($3,000,000) and the second Closing shall consist of the purchase and sale of Notes in an aggregate principal amount which, when taken together with the Notes
issued at the Initial Closing, shall not exceed ten million dollars ($10,000,000). Each such Closing shall be held at the offices of the Company located at 10182 Telesis Court, Suite 300, San Diego, California, at 11:00 a.m. local time, on such
Closing Date, or at such other time and place upon which the Company and the Lenders purchasing Notes in such Closing shall agree. At the Closing, each Lender shall deliver the consideration to the Company and the Company shall deliver to each
Lender one or more executed Notes in return for the respective consideration provided to the Company. 

 2. Representations and Warranties of the Company. In connection with the transactions
provided for herein, the Company hereby represents and warrants to the Lenders that: 
 2.1 Organization, Good
Standing, and Qualification. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite corporate power and authority to carry on its business as now conducted
and as proposed to be conducted. The Company is duly qualified to transact business and is in good standing in each jurisdiction in which the failure so to qualify would have a material adverse effect on the business, prospects, financial position
or results of operations of the Company (each a “Material Adverse Effect”). 
 2.2
Authorization. All corporate action on the part of the Company, its officers, directors and stockholders necessary for the authorization, execution and delivery of this Agreement, the performance of all obligations of the Company hereunder
has been taken or will be taken prior to the Closing. This Agreement and the Notes, when executed and delivered by the Company, shall constitute valid and legally binding obligations of the Company, enforceable in accordance with their terms, except
(i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of creditors’ rights generally and (ii) as limited by laws relating to the availability of
specific performance, injunctive relief or other equitable remedies. 
 2.3 Non-Contravention. The
execution, delivery and performance of this Agreement by the Company and the consummation by the Company of the transactions contemplated hereby do not, with or without the giving of notice or the lapse of time, or both, violate, conflict with,
result in the breach of or a default under, or accelerate the performance required by or result in any change, development or occurrence which, individually or in the aggregate, have materially adversely affected or would have a Material Adverse
Effect under any of the terms, conditions or provisions of the charter or organizational documents of the Company or any covenant, agreement, commitment or understanding to which the Company is a party, or any permit, authorization, order, ruling,
decree, judgment or arbitration award, or any law, rule, regulation or stipulation, to which the Company is subject, or result in the creation of any encumbrance upon any of the properties or assets of the Company except as contemplated by this
Agreement or the Notes. 
 2.4 Consents and Approvals. Except as has been made or obtained, no consent,
approval or authorization of, or declaration, filing or registration with, any federal, state, local, foreign or other governmental or regulatory authority, or any other person, is required to be made or obtained by the Company or its stockholders
in connection with the execution, delivery and performance of this Agreement and the consummation of the transactions contemplated hereby. 

  
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 2.5 Litigation. There is no action, investigation, suit or other
proceeding pending or, to the knowledge of the Company, overtly threatened against the Company. The Company is not in default with respect to any judgment, order, writ, injunction or decree of any court or governmental agency. There is no
outstanding order, ruling, decree, judgment or stipulation by or with any court, administrative agency, arbitration panel or other similar authority to which the Company is subject, which (a) adversely affects or is reasonably likely to
adversely affect the ability of the Company to perform its obligations under this Agreement or (b) has or is reasonably likely to have a Material Adverse Effect on the Company. 

3. Representations and Warranties of the Lenders. In connection with the transactions provided for herein, each Lender hereby
represents and warrants to the Company that: 
 3.1 Authorization. This Agreement constitutes such
Lender’s valid and legally binding obligation, enforceable in accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency, reorganization, moratorium and other laws of general application affecting enforcement of
creditors’ rights generally and (ii) as limited by laws relating to the availability of specific performance, injunctive relief or other equitable remedies. 

3.2 Purchase Entirely for Own Account. The Lender acknowledges that this Agreement is made with such Lender in
reliance upon the Lender’s representation to the Company that the Note and any shares of capital stock issued upon conversion thereof (the “Shares”) will be acquired for investment for the Lender’s own account, not as a
nominee or agent, and not with a view to the resale or distribution of any part thereof, and that the Lender has no present intention of selling, granting any participation in, or otherwise distributing the same. By executing this Agreement, the
Lender further represents that such Lender does not have any contract, undertaking, agreement or arrangement with any person to sell, transfer or grant participations to such person or to any third person, with respect to the Note and the Shares.
The Notes and the Shares are sometimes referred to herein collectively as the “Securities.” The Lender represents that it has full power and authority, and has taken all action necessary, to enter into and perform its obligations
under this Agreement. 
 3.3 Investment Experience. The Lender is an investor in securities of companies
in the development stage and acknowledges that it is able to fend for itself, can bear the economic risk of its investment and has such knowledge and experience in financial or business matters that it is capable of evaluating the merits and risks
of the investment in the Securities. The Lender also represents it has not been organized solely for the purpose of acquiring the Securities. 
 3.4 Accredited Investor. The Lender is an “accredited investor” within, the meaning of Rule 501 of Regulation D of the Securities and Exchange Commission (the
“SEC”), as presently in effect. 
 3.5 Disclosure of Information. The Lender believes it
has received all the information necessary or appropriate for deciding whether to purchase the Notes. The Lender has received and reviewed information about the Company and has had an opportunity to discuss the Company’s business, management
and financial affairs with its management. The foregoing, however, does not limit or modify the representations and warranties of the Company in Section 2 of this Agreement or the right of the Lenders to rely thereon. The Lender
acknowledges that the Company makes no representations or warranties except as expressly set forth herein. 

  
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 3.6 Restricted Securities. The Lender understands that the Securities
are characterized as “restricted securities” under the federal securities laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering and that under such laws and applicable regulations such
securities may be resold without registration under the Securities Act of 1933, as amended (the “Act”), only in certain limited circumstances. In this connection, the Lender represents that it is familiar with SEC Rule 144, as
presently in effect, and understands the resale limitations imposed thereby and by the Act. 
 4. Conditions to Closing.

 4.1 Conditions to the Lenders’ Obligations to Close. A Lender’s obligation to purchase Notes
at a Closing is subject to the fulfillment on or before the Closing of each of the following conditions, unless waived in accordance with Section 7.8 below. 

(a) The representations and warranties made by the Company in Section 2 hereof shall be true and correct in
all material respects as of such Closing Date; 
 (b) All covenants, agreements and conditions contained in the
Agreements to be performed by the Company on or prior to the Closing shall have been performed or complied with in all material respects; 
 (c) The Company shall have obtained all necessary Blue Sky law permits and qualifications, or have the availability of exemptions therefrom, required by any state for the offer and sale of the Notes and
the Common Stock issuable upon conversion of the Notes; 
 4.2 Conditions to the Company’s Obligation to
Close. The Company’s obligation to sell and issue the Notes at a Closing is subject to the fulfillment on or before the Closing of the following conditions, unless waived by the Company. 

(a) The representations and warranties made by the Lenders in Section 3 hereof shall be true and correct as of
such Closing Date; 
 (b) All covenants, agreements and conditions contained in the Agreements to be performed by
the Lenders on or prior to the Closing Date shall have been performed or complied with in all material respects; 

(c) The Company shall have obtained all necessary Blue Sky law permits and qualifications, or have the availability of
exemptions therefrom, required by any state for the offer and sale of the Notes and the Common Stock issuable upon conversion of the Notes; 

  
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 (d) The transactions contemplated hereby shall have been approved by any
stockholder approval required by law. 
 5. Further Limitations on Disposition. 

5.1 Without in any way limiting the representations set forth above, the Lender agrees not to make any disposition of, and
not to pledge or otherwise encumber, all or any portion of the Securities unless such transaction complies with the terms of any stockholder or similar agreement then in effect by which the Lenders are bound and: 

(a) there is then in effect a Registration Statement under the Act covering such proposed disposition and such disposition
is made in accordance with such Registration Statement; or 
 (b) (i) the Lender shall have notified the
Company of the proposed disposition and shall have furnished the Company with a detailed statement of the circumstances surrounding the proposed disposition, and (ii) if reasonably requested by the Company, the Lender shall have furnished the
Company with an opinion of counsel, reasonably satisfactory to the Company, that such disposition will not require registration of such securities under the Act. 

5.2 Legends. It is understood that the Securities may bear the following legend: 

“THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”).
THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED OR ENCUMBERED EXCEPT PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE COMPANY THAT REGISTRATION IS NOT
REQUIRED UNDER THE ACT OR UNLESS SOLD PURSUANT TO RULE 144 UNDER THE ACT.” 
 5.3 Right of First
Refusal. 
 (a) Restriction on Transfer. No Lender nor any permitted transferee thereof (a
“Transferring Lender”) may at any time transfer any Note to any person (other than in a transaction otherwise permitted hereunder) without first offering in writing to sell such Note to the Company first, at the same price and upon
the same terms that are proposed from the transferee (Notes which are offered pursuant to this Section 5.3 are referred to as the “Offered Notes”). The restriction on transfer set forth in this Section 5.3
shall not apply to (i) a transfer of title to the Note effected pursuant will or the laws of intestate succession following such Lender’s death, (ii) a gratuitous transfer by any Lender that is a limited partnership or limited
liability company, to its constituent partners or members on a pro rata basis or any retired partner or retired member of such partnership or limited liability company, or to the estate of any such person, (iii) a transfer by a Lender to a
corporation, limited partnership or limited liability company that is an affiliate (as defined in Rule 144 of the Securities Act) of the Lender making such 

  
 5 

 
transfer or (iv) any gratuitous transfer to the ancestors, descendants or spouse of a Lender, or to trusts, family limited partnerships or similar estate planning entities for the benefit of
such persons, including such Lender; provided each such transferee or donee furnishes the Company with a written agreement to be bound by and comply with the provisions of this Agreement. 

(b) Procedure for Offer. The offer to the Company shall be in writing and remain open for a period of twenty
(20) days from the date such offer is received by the Company. If the Company does not give the Transferring Lender notice of its intent to accept such offer as to any or all of the Offered Notes within that time period, the Transferring Lender
shall have ninety (90) days following termination of the offer period within which to consummate the sale of all of the Offered Notes specified in the original offer, on the terms and for the price and to the person specified in the original
offer, provided such person executes an agreement in form and substance reasonably satisfactory to the Company and pursuant to which such person agrees that the Note it acquires from the Transferring Lender is subject to the provisions of this
Agreement. If such sale is not consummated within such ninety (90)-day period, the Transferring Lender may not sell any of the Offered Notes without again complying with the provisions of this Section 5.3. The Company may, in its sole
discretion, transfer its rights under this Section 5.3 to a third party. 
 6. California Corporate Securities
Law. THE SALE OF THE SECURITIES WHICH ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE
CONSIDERATION FOR SUCH SECURITIES PRIOR TO SUCH QUALIFICATION IS UNLAWFUL, UNLESS THE SALE OF SECURITIES IS EXEMPT FROM QUALIFICATION BY SECTION 25100, 25102 OR 25105 OF THE CALIFORNIA CORPORATIONS CODE. THE RIGHTS OF ALL PARTIES TO THIS
AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION BEING OBTAINED, UNLESS THE SALE IS SO EXEMPT. 
 7.
Miscellaneous. 
 7.1 Successors and Assigns. Except as otherwise provided herein and subject to
the restrictions on transfer set forth in Section 6 hereof, the terms and conditions of this Agreement shall inure to the benefit of and be binding upon the respective successors and assigns of the parties. Nothing in this Agreement,
express or implied, is intended to confer upon any party other than the parties hereto or their respective successors and assigns any rights, remedies, obligations or liabilities under or by reason of this Agreement, except as expressly provided in
this Agreement. 
 7.2 Governing Law. This Agreement shall be governed by and construed under the internal
laws of the State of California without application of the conflict of laws provisions thereof. 

  
 6 

 7.3 Counterparts. This Agreement may be executed in two or more
counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 
 7.4 Titles and Subtitles. The titles and subtitles used in this Agreement are used for convenience only and are not to be considered in construing or interpreting this Agreement. 

7.5 Notices. Unless otherwise provided, any notice required or permitted under this Agreement shall be given in
writing and shall be deemed effectively given upon personal delivery to the party to be notified or upon deposit with the United States Post Office, by registered or certified mail, postage prepaid and addressed to such party at the address set
forth below, or at such other address as such party may designate by ten (10) days’ advance written notice to the other parties, or upon receipt of confirmation of successful transmission if sent by facsimile to the number set forth below,
or at such other address as such party may designate by ten (10) days’ advance written notice to the other parties. 

If to the Company to: 
 The Active Network, Inc. 
 10182 Telesis Court Suite 300 

San Diego, CA 92121 
 Fax: (858) 658-0034 
 Attn: Kory Vossoughi, Esq. 

If to the Lenders to: 
 The addresses shown on the signature pages hereto 
 7.7 Legal
Fees and Expenses. The Company and each Lender shall bear its own legal and other expenses in connection with this Agreement, the Note, and the Closing. 
 7.8 Entire Agreement: Amendments and Waivers. This Agreement and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with
regard to the subjects hereof and thereof. Any term of this Agreement may be amended and the observance of any term of this Agreement may be waived (either generally or in a particular instance and either retroactively or prospectively), only with
the written consent of the Company and Lenders holding at least a majority of the principal amount of the Notes outstanding. Any waiver or amendment effected in accordance with this Section shall be binding upon each holder of any securities
purchased under this Agreement at the time outstanding (including securities into which such securities have been converted), each future holder of all such securities and the Company. 

  
 7 

 7.9 Severability. If one or more provisions of this Agreement are
held to be unenforceable under applicable law, such provision shall be excluded from this Agreement and the balance of the Agreement shall be interpreted as if such provision were so excluded and shall be enforceable in accordance with its terms.

 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 

  
 8 

 IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first above
written. 
  

			
	COMPANY:
	
	THE ACTIVE NETWORK, INC., a Delaware corporation
		
	By:	 	/s/ Matt Landa
	Name:	 	Matt Landa
	Title:	 	President
		
	Address:	 	10182 Telesis Court, Suite 300 San Diego, CA 92121

  
 COUNTERPART
SIGNATURE PAGE TO NOTE PURCHASE AGREEMENT 

 
			
	LENDERS:
	
	ABS VENTURES IX, L.P.
	By Calvert Capital V LLC, its general partner
		
	By:	 	/s/ Bruns Grayson
	Name:	 	Bruns Grayson
	Its:	 	Managing Member
	Address:	 	 950 Winter Street, Suite 2600

Waltham, MA 02541

	Fax:	 	(                            
                                         
                           

 

			
	ABS VENTURES IT, L.P.
	 By Calvert Capital VI LLC, its general partner

		
	 By:
	 	/s/ Bruns Grayson
	Name:	 	Bruns Grayson
	Its:	 	Managing Member
	Address:	 	950 Winter Street, Suite 2600
		 	Waltham, MA 02541
	Fax:	 	(                            
                                         
                           

 

			
	 DAVID ALBERGA

		
	Sign:	 	 David A. Alberga

	Print:	 	 David A. Alberga

	Address:	 	 1448 Torrey Pines Road

		 	 La Jolla, CA 92037

	Fax:	 	(                            
                                         
                           

  
 COUNTERPART
SIGNATURE PAGE TO NOTE PURCHASE AGREEMENT 

 SCHEDULE OF LENDERS 

 

					
	LENDER	  	AMOUNT	 
	 ABS Ventures IX, L.P.
	  	$	2,000,000	  
	 ABS Ventures IT, L.P.
	  	$	1,000,000	  
	 Dave Alberga
	  	$	1,000,000	  
	 TOTAL:
	  	$	4,000,000	  

 EXHIBIT A 

FORM OF NOTE 
 Filed
separately as an exhibit to this Registration Statement 

  
 A-1

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