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Exhibit 10.1    
  

 
 

CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENT    
  

        THIS AGREEMENT, dated as of June 26, 2002, is entered into by and among  PERFICIENT, INC., a Delaware corporation (the "Corporation"), and the persons listed on  Schedule 1 attached hereto (the "Investors"). 

        The
Corporation and the Investors are desirous of providing for the issuance of shares of Series B Preferred Stock and Warrants (each, as hereinafter defined), as more
specifically set forth hereinafter. 

        NOW, THEREFORE, in consideration of the mutual covenants and agreements herein contained, the parties hereto, intending to be legally
bound, hereby agree as follows: 

        SECTION
1. Filing of Certificate of Designation; Shareholder Meeting. (a) Prior to the Initial Closing (as defined in
Section 4 hereof), the Corporation shall have filed a Certificate of Designation, Rights and Preferences to the Certificate of Incorporation of the Corporation (the "Certificate of
Designation") setting forth, among other things, the terms, designations, powers, preferences, and relative, participating, optional, and other special rights, and the qualifications, limitations and
restrictions of the Series B Preferred Stock, in the form attached hereto as Exhibit A. Pursuant to the Certificate of Designation, the
Corporation shall be authorized to issue up to 2,777,500 shares of Series B Convertible Preferred Stock, par value $.001 per share ("Series B Preferred Stock"). The Series B
Preferred Stock shall have the terms set forth in the Certificate of Designation. 

        (b)
The Corporation shall submit to the stockholders of the Corporation for approval at either its next annual meeting of shareholders or a special meeting (the "Meeting") to be called
and held as promptly as practicable after the date hereof, but by no later than September 30, 2002, the sale and issuance of the Option Shares (as hereinafter defined) and the issuance of the
Warrants (and the Common Stock issuable upon the exercise thereof) contemplated by this Agreement. In connection with such Meeting, the Corporation shall prepare and file with the SEC a preliminary
proxy statement (the "Proxy Statement") by which the Corporation's shareholders will be asked to approve the transactions referred to herein, including the issuance of the Option Shares, the
authorization and issuance of the Warrants
(as defined below), the issuance of the Corporation's Common Stock underlying the Option Shares and the Warrants (including authorization of additional shares of the Corporation's Common Stock, if
necessary), any required amendments to the Company's Certificate of Incorporation and, if necessary, any required amendments to the Certificate of Designation, Rights and Preferences of the
Series A Preferred Stock (collectively, the "Required Shareholder Approvals"). The Proxy Statement as initially filed with the SEC, as it may be amended and refiled with the SEC and as it may
be mailed to the Corporation's shareholders, shall be in form and substance reasonably satisfactory to Investors. The Corporation shall use its best efforts to respond to any comments of the SEC, and
to cause the Proxy Statement to be mailed to the Corporation's shareholders at the earliest practicable time. The Corporation will notify Investors promptly of the receipt of any comments from the SEC
or its staff and of any request by the SEC or its staff or any other government officials for amendments or supplements to the Proxy Statement or for additional information and will supply Investors
with copies of all correspondence between the Corporation or any of its representatives, on the one hand, and the SEC, or its staff or any other government officials, on the other hand, with respect
to the Proxy Statement. The Proxy Statement shall comply in all material respects with all applicable requirements of law. Investors shall provide the Corporation all information about Investors
required to be included or incorporated by reference in the Proxy Statement and shall otherwise cooperate with the Company in taking the actions described in this paragraph. Whenever any event occurs
which is required to be set forth in an amendment or supplement to the Proxy Statement, the Corporation or Investors, as the case may be, shall promptly inform the other party of such occurrence and
cooperate in filing with the SEC or its staff or any other government officials, and/or mailing to shareholders of the Corporation, such amendment or supplement. The Proxy Statement shall include the
recommendation of the Board of Directors of the Corporation that the shareholders of the Corporation vote in favor of and approve the transactions contemplated by, and the issuance of the 

 

Corporation's Common stock pursuant to, this Agreement; provided, however, that the Board of Directors may withdraw or modify its recommendation in a
manner adverse to the Investors only in the event that the Board of Directors determines in good faith, after consultation with and after considering the advice of outside counsel, that in order to
comply with its fiduciary duties to stockholders under applicable law it is necessary for the Board of Directors to so withdraw or modify its recommendation. 

        SECTION
2. Authorization of Issuance and Sale of Series B Preferred Shares; Reservation of Reserved Common Shares; Closings. 

        (a)
Subject to the terms and conditions hereof, and in the case of clause (ii) subject to receipt of the Required Shareholder Approval, the Corporation has authorized
(i) the issuance on the Initial Closing Date (as defined in Section 4 hereof) of an aggregate of 1,111,000 shares of Series B Preferred Stock (such shares of Series B
Preferred Stock being sometimes hereinafter referred to as the "Series B Preferred Shares") and (ii) the issuance, as soon as practicable after receipt of the Required Shareholder
Approval as set forth above, of warrants in the form attached hereto as Exhibit B (the "Warrants") to purchase up to 555,500 shares of the common
stock, par value $.001 per share, of the
Corporation (the "Common Stock") for $2.00 per share, as adjusted pursuant to the terms of the Warrants. 

        (b)
Subject to the terms and conditions hereof, and subject to receipt of the Required Shareholder Approval as set forth above, the Corporation has authorized the issuance on the Option
Closing Date (as defined in Section 4 hereof) of an aggregate of (i) 1,666,500 Series B Preferred Shares (the "Option Shares") and (ii) Warrants to purchase up to 833,250
shares of the Common Stock for $2.00 per share, as adjusted pursuant to the terms of the Warrants. 

        (c)
Subject to the terms and conditions hereof, the Corporation has reserved up to 1,666,500 shares of Common Stock for issuance upon conversion of the Series B Preferred Shares
sold by the Corporation at the Initial Closing and exercise of the related Warrants and will reserve, as necessary and upon receipt of the Required Shareholder Approval, an additional 2,499,750 shares
of Common Stock for issuance upon conversion of any Series B Preferred Shares sold by the Corporation at the Option Closing, if any, and exercise of the related Warrants (such reserved Common
Stock being sometimes hereinafter referred to as the "Reserved Shares"). If at any time after the date of the receipt of the Required Shareholder Approval there are not sufficient shares of Common
Stock reserved for issuance upon conversion of all of the issued and outstanding Series B Preferred Shares and related Warrants (whether sold at the Initial Closing, the Option Closing or
otherwise), the Corporation shall reserve such additional shares of Common Stock as are necessary therefor. 

        SECTION
3. Sale and Delivery of Preferred Shares and Warrants; Sale of Common Stock by Selling Shareholders to 2M Arranged by the Corporation; Right of First
Refusal of 2M. 

        3.1
Agreement to Sell and Purchase the Preferred Shares. Subject to the terms and conditions hereof, the Corporation has authorized the
following: 

        (a)
the Corporation shall sell to each Investor at the Initial Closing (as defined in Section 4 hereof) and each Investor, severally and not jointly, shall purchase from the
Corporation, subject to the satisfaction of the conditions precedent set forth in Sections 7.1 and 7.2 hereof and subject to the terms and other conditions hereinafter set forth, at the Initial
Closing, the number of Series B Preferred Shares set forth opposite the name of such Investor on Schedule 1 hereto for a purchase price of
$0.900090009 per share of Series B Preferred Stock (subject to adjustment to reflect stock splits, stock dividends, stock combinations, recapitalizations and like occurrences), representing an
aggregate purchase price of $1,000,000 for such Series B Preferred Shares purchased by all Investors. Upon receipt of the Required Shareholder Approval, each Investor will receive within five
(5) business days 

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after such receipt, one Warrant to purchase one share of Common Stock for every two Series B Preferred Shares that such Investor purchases pursuant to this Section 3.1(a); and 

        (b)
for a period of twelve (12) months from the date of the Initial Closing, at the option (the "2M Option") of 2M Technology Ventures, L.P. ("2M"), and subject to receipt of the
Required Shareholder Approval as set forth above, the Corporation shall sell to 2M and 2M shall be entitled to purchase from the Corporation, subject to the satisfaction of the conditions precedent
set forth in Sections 7.1 and 7.3 hereof and subject to the terms and other conditions hereinafter set forth, at the Option Closing (as defined in Section 4 hereof), up to 1,666,500 shares of
Series B Preferred Stock for a purchase price of $0.900090009 per share of Series B Preferred Stock (subject to adjustment to reflect stock splits, stock dividends, stock combinations,
recapitalizations and like occurrences), representing an aggregate purchase price of up to $1,500,000 for such Series B Preferred Shares purchased by 2M. 2M will receive a Warrant to purchase
one share of Common Stock for every two Series B Preferred Shares that 2M purchases pursuant to the 2M Option. 

        The
Investors acknowledge and agree that if the Required Stockholder Approval is not received, then the Corporation will not issue to the Investors the Warrants, nor will it sell or
issue any Series B Preferred Shares in accordance with the 2M Option. 

        3.2
Delivery of Preferred Shares and Warrants. 

        (a)
At the Initial Closing, the Corporation shall deliver to the Investors certificates, registered in the name of each Investor as set forth on  Schedule 1, representing that number of Series B
Preferred Shares being purchased by such Investor at the Initial Closing. At the Initial
Closing, each Investor shall deliver to the Corporation a check payable to Perficient, Inc. or a wire transfer to an account designated by the Corporation in the full amount of the purchase
price for the Series B Preferred Shares being purchased by such Investor at the Initial Closing. 

        (b)
At the Option Closing, if any, the Corporation shall deliver to 2M certificates, registered in the name of 2M, representing (i) that number of Series B Preferred Shares
being purchased by 2M at the Option Closing, and (ii) that number of Warrants being purchased by 2M at the Option Closing. At the Option Closing, 2M shall deliver to the Corporation a check
payable to Perficient, Inc. or a wire transfer to an account designated by the Corporation in the full amount of the purchase price for such Series B Preferred Shares being purchased by
2M at the Option Closing. 

        (c)
Within five business days following receipt of the Required Shareholder Approval, the Corporation shall deliver to each Investor one Warrant for every two Series B Preferred
Shares purchased by such Investor at the Initial Closing. 

        3.3
Sale of Common Stock by Selling Shareholders to 2M Arranged by the Corporation. The Corporation will arrange for the current
Stockholders listed on Schedule 3 (the "Selling Shareholders") to sell to 2M, and 2M will purchase from such Selling Shareholders, the number of
shares of Common Stock set forth next to each such Selling Shareholder's name on Schedule 3 at a price of $0.75 per share. 

        3.4
Right of First Refusal of 2M. 2M shall have a right of first refusal (the "2M Right") to purchase all of the shares of capital stock
(or options, warrants or other securities convertible into or exchangeable or exercisable for capital stock of the Corporation) to be sold by the Corporation (the "Offered Securities") (other than
(i) any issuance of shares of capital stock or Warrants contemplated to be issued in connection with the Option Closing, if any, (ii) any shares of capital stock issuable upon conversion
of any Series B Preferred Shares or upon exercise of any Warrants, (iii) any securities subject to warrants or options outstanding on the date hereof, and (iv) any securities
subject to options granted to officers, directors, employees or consultants of the Corporation under compensatory or employee benefit plans or agreements generally), whether in a registered or
unregistered offering of securities and whether in a single offering or a series of related or unrelated offerings, up to (and 

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including) an aggregate of the next $1,000,000 in consideration to be received by the Corporation following the Initial Closing. In each such case, the Corporation shall deliver to 2M written notice
of the offer to sell the Offered Securities and granting to 2M the 2M Right (each, an "Offer"), specifying the price and terms and conditions of the offer and all other information concerning the
Corporation material to a person's decision to invest in the Offered Securities. Each Offer by its terms shall remain open and, unless the Corporation determines not to issue or sell such Offered
Securities, irrevocable for a period of thirty (30) days from the date of its delivery to 2M (the "30-Day Period"). 2M shall evidence its intention to accept any such Offer by
delivering a written notice signed by 2M (the "Notice of Acceptance"). The Notice of Acceptance must be delivered to the Corporation prior to the end of the 30-Day Period. If a Notice of
Acceptance is not so delivered by 2M prior to the end of the 30-Day Period, the Corporation may proceed to offer the Offered Securities, at the same price and on the same terms and
conditions as specified in the Offer, to any other investors. Following the date that an aggregate of $1,000,000 in securities has been offered to the Investors or purchased by the Investors in
accordance with this Section 3.4, the 2M Right shall terminate. 

        SECTION
4. The Closings. 

        (a)
The closing with respect to the transactions contemplated by Section 3.1(a) hereof (the "Initial Closing") will take place by delivery of executed copies of the documents
contemplated hereby, delivered no later than June 26, 2002 (or such later date as may be mutually agreed upon by the parties), at the offices of Perficient, Inc., 7600-B
North Capital of Texas Highway, Suite 340, Austin, Texas 78731, (such date sometimes being referred to herein as the "Initial Closing Date"). 

        (b)
The closing, if any, with respect to the transactions contemplated by Section 3.1(b) hereof (the "Option Closing" and, together with the Initial Closing, the "Closings") will
take place by delivery of executed copies of the documents contemplated hereby, delivered on a mutually acceptable business day within 12 months after the Initial Closing (or such later date as
may be mutually agreed upon by the parties), at the offices of Perficient, Inc., 7600-B North Capital of Texas Highway, Suite 340, Austin, Texas 78731, (such date sometimes being
referred to herein as the "Option Closing Date" or, together with the Initial Closing Date, the "Closing Dates"). 

        SECTION
5. Representations and Warranties of the Corporation to the Investors. 

        The
Corporation hereby represents and warrants to the Investors as follows: 

        5.1
Organization. The Corporation 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 own and lease its property and to carry on its business as presently conducted. The Corporation is duly qualified to do business as a
foreign corporation, or has taken substantially all actions necessary such that it will be duly qualified to do business as a foreign corporation, in the states set forth on  Schedule 5.1. The
Corporation does not own or lease property or engage in any activity in any other jurisdiction which would require its
qualification in such jurisdiction and in which the failure to be so qualified would have a material adverse effect on the business, properties, financial condition, results of operations, or
prospects of the Corporation (a "Material Adverse Effect"). 

        5.2  Capitalization. As more fully described in the capitalization table set forth in  Schedule 5.2 attached hereto, the authorized capital stock of the Corporation immediately following the Initial Closing shall consist of: 

        (a)
20,000,000 shares of Common Stock, of which: 

                (i)
10,517,510 shares shall be validly issued and outstanding, fully paid and nonassessable; 

                (ii)
1,984,000 shares shall have been duly reserved for issuance upon conversion of outstanding shares of Series A Preferred Stock and exercise of the related
Warrants; 

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                (ii)
4,583,700 shares shall have been duly reserved for issuance upon conversion of the Series B Preferred Shares and exercise of the related Warrants; and 

                (iii)
3,886,618 shares (the "Option Shares") shall have been duly reserved for issuance in connection with the options available under the Corporation's Stock Option Plan
and options and warrants issued outside the Stock Option Plan. 

        (b)
5,000,000 shares of Preferred Stock, (i) up to 2,777,500 of which shall have been designated the Series B Preferred Stock, all of which shall be validly issued and
outstanding and, pursuant to the terms
of this Agreement, fully paid and nonassessable, and (ii) 1,984,000 shares of which have been designated the Series A Convertible Preferred Stock, $.001 par value per share (the
"Series A Shares"), all of which is validly issued and outstanding and fully paid and nonassessable. 

        Except
pursuant to the terms of this Agreement, the First Amended and Restated Investor Rights Agreement between the Investors and the Corporation in the form attached hereto as  Exhibit C (the "Investor
Rights Agreement"), the Warrants and as set forth in Schedule 5.2
attached hereto, there are, and immediately following the Closings, if any, there will be: (1) no outstanding warrants, options, rights, agreements, convertible securities or other commitments
or instruments pursuant to which the Corporation is or may become obligated to issue, sell, repurchase or redeem any shares of capital stock or other securities of the Corporation (other than the
Series A Shares and the Option Shares); (2) no preemptive, contractual or similar rights to purchase or otherwise acquire shares of capital stock of the Corporation pursuant to any
provision of law, the Certificate of Incorporation of the Corporation (the "Certificate of Incorporation"), the By-laws of the Corporation (the "By-laws") or any agreement to
which the Corporation is a party or may otherwise be bound; (3) no restrictions on the transfer of capital stock of the Corporation imposed by the Certificate of Incorporation or the
By-laws, any agreement to which the Corporation is a party, any order of any court or any governmental agency to which the Corporation is subject, or any statute other than those imposed
by relevant state and federal securities laws; (4) no cumulative voting rights for any of the Corporation's capital stock; (5) no registration rights under the Securities Act of 1933, as
amended, with respect to shares of the Corporation's capital stock; (6) to the best of the Corporation's knowledge and belief, no options or other rights to purchase shares of capital stock
from stockholders of the Corporation granted by such stockholders; and (7) no agreements, written or oral, between the Corporation and any holder of its securities, or, to the best of the
Corporation's knowledge and belief, among holders of its securities, relating to the acquisition, disposition or voting of the securities of the Corporation. 

        5.3
Authorization of this Agreement, the Warrants and the Investor Rights Agreement. The execution, delivery and performance by the
Corporation of this Agreement, the Warrants and the Investor Rights Agreement and the consummation of the transactions contemplated hereby and thereby have been duly authorized by all requisite action
on the part of the Corporation and its shareholders, except for the Required Shareholder Approval. Each of this Agreement, the Warrants and the Investor Rights Agreement has been duly executed and
delivered by the Corporation and constitutes a valid and binding obligation of the Corporation, enforceable in accordance with its respective terms. The execution, delivery and performance by the
Corporation of this Agreement, the Warrants and the Investor Rights Agreement, the filing of the Certificate of Designation and the compliance with the provisions hereof and thereof by the
Corporation, will not: 

        (a)
violate any provision of law, statute, ordinance, rule or regulation or any ruling, writ, injunction, order, judgment or decree of any court, administrative agency or other
governmental body; 

        (b)
conflict with or result in any breach of any of the terms, conditions or provisions of, or constitute (with due notice or lapse of time, or both) a default (or give rise to any right
of termination, cancellation or acceleration) under (i) any agreement, document, instrument, contract, understanding, arrangement, note, indenture, mortgage or lease to which the Corporation is
a party or under which the Corporation or any of its assets is bound or affected (including but not limited to the Certificate of 

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Designation, Rights and Preferences of Series A Preferred Stock authorizing the issuance by the Corporation of the Series A Shares), (ii) the Certificate of Incorporation, or
(iii) the By-laws; or 

        (c)
result in the creation of any lien, security interest, charge or encumbrance upon any of the properties or assets of the Corporation. 

        5.4
Authorization of Preferred Shares, Warrants and Reserved Shares. 

        (a)
The issuance, sale and delivery of the Series B Preferred Shares to be sold and issued at the Initial Closing have been duly authorized by all requisite action of the
Corporation, and, when issued, sold and delivered in accordance with this Agreement, will be validly issued and outstanding and, pursuant to the terms of this Agreement, fully paid and nonassessable,
with no personal liability attaching to the ownership thereof, and not subject to preemptive or any other similar rights of the stockholders of the Corporation or others. When issued following the
receipt of the Required Shareholder Approval, each of (i) the Warrants related to the Series B Preferred Shares to be sold at the Initial Closing and (ii) the Series B
Preferred Shares and the related Warrants to be sold and issued at the Option Closing, shall have been duly authorized by all requisite action of the Corporation, and, when issued, sold and delivered
in accordance with this Agreement, validly issued and outstanding and, pursuant to the terms of this Agreement, fully paid and nonassessable, with no personal liability attaching to the ownership
thereof, and not subject to preemptive or any other similar rights of the stockholders of the Corporation or others. 

        (b)
Except for the Required Shareholder Approval, the reservation, issuance, sale and delivery by the Corporation of the Reserved Shares have been duly authorized by all requisite action
of the Corporation. Upon the issuance and delivery of the Reserved Shares in accordance with the terms of this Agreement and the Warrants, the Reserved Shares will be validly issued and outstanding,
fully paid and nonassessable, with no personal liability attaching to the ownership thereof, and not subject to preemptive or any other similar rights of the stockholders of the Corporation or others. 

        5.5
Consents and Approvals. Except as set forth on Schedule 5.5 attached hereto, no
authorization, consent, approval or other order of, or declaration to or filing with, any governmental agency or body (other than filings required to be made under applicable federal and state
securities laws) or any other person, entity or association is required for: (a) the valid authorization, execution, delivery and performance by the Corporation of this Agreement, the Warrants
and the Investor Rights Agreement; (b) the valid authorization, issuance, sale and delivery of the Series B Preferred Shares; or (c) the valid authorization, reservation,
issuance, sale and delivery of the Reserved Shares. The Corporation has obtained all other consents that are necessary to permit the consummation of the transactions contemplated hereby. 

        5.6
Business of Corporation. 

        (a)
Except as provided in Schedule 5.6(a) attached hereto: (i) there are no actions, suits, arbitrations, claims,
investigations or legal or administrative proceedings pending or, to the best of the Corporation's knowledge and belief, threatened, against the Corporation, whether at law or in equity;
(ii) there are no judgments, decrees, injunctions or orders of any court, government department, commission, agency, instrumentality or arbitrator entered or existing against the Corporation or
any of its assets or properties for any of the forgoing or otherwise; and (iii) the Corporation has not admitted in writing its inability to pay its debts generally as they become due, filed or
consented to the filing against it of a petition in bankruptcy or a petition to take advantage of any insolvency act, made an assignment for the benefit of creditors, consented to the appointment of a
receiver for itself or for the whole or any part of its property, or had a petition in bankruptcy filed against it, been adjudicated bankrupt, or filed a petition or answer seeking reorganization or
arrangement under the federal bankruptcy laws or any other laws of the United States or any other jurisdiction. 

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        (b)
The Corporation is in compliance with all obligations, agreements and conditions contained in any evidence of indebtedness or any loan agreement or other contract or agreement
(whether or not relating to indebtedness) to which the Corporation is a party or is subject (collectively, the "Obligations"), the lack of compliance with which could afford to any person the right to
accelerate any indebtedness or terminate any right of or agreement with the Corporation. To the best of the Corporation's knowledge and belief, all other parties to such Obligations are in compliance
with the terms and conditions of such Obligations. The Corporation has no reason to believe that the transactions contemplated by the Acquisition Agreements will not be consummated on the terms
described therein prior to March 31, 2002. 

        (c)
Except for employment and consulting agreements described in the reports that the Company files pursuant to the Securities Exchange Act of 1934, as amended (collectively, the "34 Act
Reports") and for agreements and arrangements relating to the Option Shares and benefit plans in which all employees of the Company may participate and except as provided in  Schedule 5.6(c)
attached hereto, this Agreement, the Warrants and the Investor Rights Agreement, there are no agreements, understandings or
proposed transactions between the Corporation and any of its officers, directors or other "affiliates" (as defined in Rule 405 promulgated under the Securities Act of 1933, as amended (the
"Securities Act")), and there are no transactions between any of such persons and the Corporation of a type required to be disclosed under Rule 404 promulgated under the Securities Act that
have not been so disclosed. 

        (d)
The Corporation does not have any collective bargaining agreements covering any of its employees or any employee benefit plans, other than the Stock Option Plan or any other plan
described on Schedule 5.6(d). 

        (e)
The Corporation is not in violation of or default under any provision of its By-Laws or Certificate of Incorporation, or any contract, instrument, judgment, order, writ
or decree to which it is a party or by which it or any of its properties are bound which violation or default, individually or in the aggregate, would have a Material Adverse Effect and the
Corporation is not in violation of any provision of any federal or state statute, rule or regulation applicable to the Corporation which violation would, individually or in the aggregate, have a
Material Adverse Effect. 

        (f)
(i) Included in the Company's 34 Act Reports and attached hereto as Schedule 5.6(f-1) is the Balance Sheet dated
March 31, 2002 (the "Balance Sheet") and Statements of Operation, Stockholders' Equity and Cash Flows for the three months then ended (collectively, the "Financial Statements"). The Financial
Statements are complete and correct, are in accordance with the books and records of the Corporation and present fairly the financial condition and results of operation of the Corporation, as at the
dates and for the periods indicated, and have been prepared in accordance with generally accepted accounting principles consistently applied, except that the Financial Statements may not be in
accordance with generally accepted accounting principles because of the absence of footnotes normally contained therein and are subject to normal year-end audit adjustments. Specifically,
but not by way of limitation, the Balance Sheet discloses all of the Corporation's material debts, liabilities and obligations of any nature, whether due or to become due, as of their respective dates
(including, without limitation, absolute liabilities, accrued liabilities, and contingent liabilities) to the extent such debts, liabilities and obligations are required to be disclosed in accordance
with generally accepted accounting principles. 

                (ii)
The financial projections provided to Investors by the Corporation and attached hereto as  Schedule 5.6(f-2) were prepared by management of the Corporation in good faith, represent their best
estimate of the Corporation's
expected performance and are based on assumptions believed by them to be reasonable at the time given, provided that no representation is made as to whether such projections will be achieved. 

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                (iii)
Except as set forth on Schedule 5.6(f-3), since the date of the Balance Sheet and other than as set
forth in the Company's filings with the SEC, there has not been: 

                        (a)
any damage, destruction or loss to any property of the Corporation, whether or not covered by insurance, that has had or will have a Material Adverse Effect; 

                        (b)
any waiver by the Corporation of a material valuable right or of a material debt owed to it except for items fully reserved for on the Balance Sheet; 

                        (c)
any satisfaction or discharge of any lien, claim or encumbrance or payment of any obligation by the Corporation, except such a satisfaction, discharge or payment made
in the ordinary course of business
that is not material to the assets, properties, financial condition, operating results, business or prospects of the Corporation; 

                        (d)
any material change or amendment to a material contract or arrangement by which the Corporation or any of its assets or properties is bound or subject; 

                        (e)
any material change in any compensation arrangement or agreement with any present or prospective employee, contractor or director of the Corporation other than as set
forth on Schedule 5.6(c); 

                        (f)
any loan to any officer, director or shareholder of the Corporation, other than advances in the ordinary course of business; 

                        (g)
any debt, obligation or liability incurred, assumed or guaranteed by the Corporation, except for those that are immaterial in amount and for current liabilities
incurred in the ordinary course of business; 

                        (h)
to the Corporation's knowledge, any other event or condition of any character which would have a Material Adverse Effect; or 

                        (i)
any agreement by the Corporation to do any of the foregoing. 

                (iv)
The Corporation has no material liabilities, contingent, accrued, unaccrued, known, unknown or otherwise, that were not reflected in the Balance Sheet, except for
liabilities incurred after the date thereof in the ordinary course of business that would not have Material Adverse Effect. 

        5.7  Payment of Taxes. Neither the Corporation, nor any entity to whose liabilities the Corporation has succeeded, has filed or been
included in a consolidated, unitary, or combined tax return with another person. Except as set forth on Schedule 5.7, the Corporation represents
and warrants that: (a) the Corporation has filed all tax returns and reports required to have been filed by or for it; (b) all material information set forth in such returns or reports
is accurate and complete; (c) the Corporation has paid or made adequate provision for all taxes, additions to tax, penalties, and interest payable by the Corporation; (d) no material
unpaid tax deficiency has been asserted against or with respect to the Corporation by any taxing authority, and the Corporation has not received written notice of any such assertion; (e) the
Corporation has collected or withheld all amounts required to be collected or withheld by it for any taxes, and to the extent required by law, all such amounts have been paid to the appropriate
governmental agencies or set aside in appropriate accounts for future payment when due; (f) the Corporation is in compliance with, and its records contain all information and documents
necessary to comply with, all applicable information reporting and tax withholding requirements; (g) the Balance Sheet fully and properly reflects, as of the date thereof, the liabilities of
the Corporation for all material accrued taxes, additions to tax, penalties, and interest; (h) for periods ending after the Balance Sheet Date, the books and records of the Corporation fully
and properly reflect its liability for all accrued taxes, additions to tax, penalties, and interest; (i) the Corporation has not granted, nor is it subject to, any waiver of the period of
limitations of the assessment of tax for any currently open taxable period; (j) the Corporation has not made or entered into, and holds no asset subject to, a 

8

 

consent filed pursuant to Section 341(f) of the U.S. Internal Revenue Code of 1986, as amended (the "Code") and the regulations thereunder or a
"safe harbor lease" subject to former Section 168(f)(8) of the Internal Revenue Code of 1954, as amended before the Tax Reform Act of 1986, and the regulations thereunder; (k) the
Corporation is not required to include in income any amount for an adjustment pursuant to Section 481 of the Code or the regulations thereunder; and (l) the Corporation is not a party,
or obligated under, any agreement or other arrangement providing for the payment of any amount that would be an "excess parachute payment" under Section 280G of the Code. The Corporation has
not elected pursuant to the Code, to be treated as an "S" corporation or a collapsible corporation pursuant to Section 341(f) or Section 1362(a) of the Code, nor has it made any other
elections pursuant to the Code (other than elections which relate solely to matters of accounting, depreciation or amortization) which would have a material effect on the Corporation, its financial
condition, its business as presently conducted or presently proposed to be conducted or any of its properties or material assets. 

        5.8
Intellectual Property Rights and Related Employee Matters. (i) All patents, patent rights, patent applications, registered
trademarks and service marks, trademark rights, trademark applications, trade names, registered copyrights, domain names and all licenses owned or possessed by the Corporation are listed on  Schedule 5.8 attached hereto (collectively, the "Listed Rights"). To the best of the Corporation's knowledge and belief, except as set forth on  Schedule 5.8, the Listed Rights comprise all of the
patents, patent rights, patent applications, registered trademarks and service marks,
trademark rights, trademark applications, trade names, registered copyrights, domain names and all licenses that are necessary for the conduct of the business of the Corporation as now being
conducted. Except as set forth on Schedule 5.8, to the best of the Corporation's knowledge and belief, the Corporation owns and possesses all of
the proprietary rights and trade secrets not included in the Listed Rights (hereinafter collectively referred to as "Intellectual Property") necessary for the Corporation's business as now being
conducted. 'The Listed Rights and Intellectual Property are valid and enforceable rights and do not infringe or conflict with the rights of any third party. There is neither pending nor threatened,
or, to the best of the Corporation's knowledge and belief, any basis for, any claim or litigation against the Corporation contesting the validity or right to use any of the Listed Rights or
Intellectual Property, and the Corporation has not received any notice of infringement upon or conflict with any asserted right of others nor, to the best of the Corporation's knowledge and belief, is
there a basis for such a notice. To the best of the Corporation's knowledge and belief, no person, corporation or other entity is infringing the Corporation's rights to the Listed Rights or
Intellectual Property. Except as otherwise provided in Schedule 5.8, the Corporation has no obligation to compensate others for the use of any
Listed Right or any Intellectual Property, nor has the Corporation granted any license or other right to use, in any manner, any of the Listed Rights or Intellectual Property, whether or not requiring
the payment of royalties. 

        (ii)
The Corporation is not aware that any of its employees is 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 their duties to the Corporation or that would conflict with the Corporation's business as currently conducted or
proposed to be conducted. Neither the execution nor delivery of this Agreement, nor the carrying on of the Corporation's business by the employees of the Corporation, nor the conduct of the
Corporation's business as currently conducted or proposed to be conducted, will, to the Corporation's knowledge, conflict with or result in a breach of the terms, conditions or provisions of, or
constitute a default under, any contract, covenant or instrument under which any employee is now obligated. The Corporation does not believe it is or will be necessary to utilize any inventions, trade
secrets or proprietary information of any of its employees made prior to their employment by the Corporation, except for inventions, trade secrets or proprietary information that have been assigned to
the Corporation. 

9

 

        (iii)
Except as otherwise provided for in his or her employment agreement, each officer of the Corporation is currently devoting substantially all of his or her business time to the
conduct of the business of the Corporation. No officer or key employee of the Corporation is planning to work less than full time at the Corporation in the future. To the best of the Corporation's
knowledge and belief, no officer or key employee is currently working or plans to work for a competitive enterprise, whether or not such officer or key employee is or will be compensated by such
enterprise. 

        5.9
Securities Laws. Neither the Corporation nor anyone acting on its behalf has offered securities of the Corporation for sale to, or
solicited any offers to buy the same from, or sold securities of the Corporation to, any person or organization, in any case so as to subject the Corporation, its promoters, directors and/or officers
to any liability under the Securities Act, the Securities and Exchange Act of 1934, as amended, or any state securities or "blue sky" law and the rules and regulations promulgated thereunder
(collectively, the "Securities Laws"). The offer, grant, sale and/or issuance of the following were not, are not, or, as the case may be, will not be, in violation of the Securities Laws when offered,
sold and issued in accordance with this Agreement: 

        (a)
the Series B Preferred Shares, as contemplated by this Agreement and the Exhibits and Schedules hereto; 

        (b)
the Warrants, as contemplated by the terms thereof and this Agreement and the Exhibits and Schedules hereto; and 

        (c)
the Common Stock issuable upon the conversion of the Series B Preferred Shares and the exercise of the Warrants. 

        5.10
Title to Properties. Except as provided on Schedule 5.10 attached hereto, the
Corporation has good, legal and merchantable title to all of its assets, including all properties and assets reflected on the Balance Sheet, free and clear of all liens, restrictions or encumbrances,
except those assets disposed of since the date of the Balance Sheet in the ordinary course of business. All machinery and equipment included in such assets that are material to the business of the
Corporation are in good condition and repair, and each lease of real or personal property to which the Corporation is a party (each, a "Lease" and collectively, the "Leases") is fully effective,
affords the Corporation peaceful and undisturbed possession of the subject matter of the lease. Each Lease constitutes a valid and binding obligation of, and is enforceable in accordance with its
terms against, the respective parties thereto. The Corporation has in all respects performed the obligations required to be performed by it to date under each lease and is not in default thereunder in
any respect, and there has not occurred any event which (whether with or without the passage of time or the giving of notice) would constitute such a default under any lease. The Corporation does not
own any real property. 

        5.11  Investments in Other Persons. Except as indicated in Schedule 5.11 attached
hereto, (a) the Corporation has not made any material loan or advance to any person or entity which is outstanding on the date hereof, nor is it committed or obligated to make any such loan or
advance, and (b) the Corporation has never owned or controlled and does not currently own or control, directly or indirectly, any subsidiaries and has never owned or controlled and does not
currently own or control any capital stock or other ownership interest, directly or indirectly, in any corporation, association, partnership, trust, joint venture or other entity. 

        5.12  ERISA. Except as set forth on Schedule 5.12, the Corporation has not made and
is not obligated to make contributions to any pension, defined benefit or defined contribution plans for its employees which are subject to the Federal Employee Retirement Income Security Act of 1974,
as amended. 

        5.13
Use of Proceeds. The net proceeds received by the Corporation from the sale of the Series B Preferred Shares is currently
intended to be used by the Corporation generally for the purposes set forth in Schedule 5.13 attached hereto. 

10

 

        5.14
Permits and Other Rights; Compliance with Laws. The Corporation has all material franchises, permits, licenses and other rights and
privileges necessary to permit it to own its properties and to conduct its business as presently conducted. The Corporation is in compliance under each, and the transactions contemplated by this
Agreement will not cause a violation under any of such franchises, permits, licenses and other rights and privileges. The Corporation is in compliance in all respects with all laws and governmental
rules and regulations applicable to its businesses, properties and assets, and to the products and services sold by it, including, without limitation, all such rules, laws and regulations relating to
fair employment practices and public or employee safety, except for such failures to so comply, individually or in the aggregate, as would not result in a Material Adverse Effect. 

        5.15
Insurance. The Company has in full force and effect fire and casualty insurance policies, with extend coverage, sufficient in amount
(subject to reasonable deductibles) to allow it to replace any of its properties that might be damaged or destroyed. Schedule 5.15 attached
hereto lists all insurance policies carried by the Corporation covering its properties and business. The Corporation is not in default with respect to its obligations under any insurance policy
maintained by it. 

        5.16
Board of Directors. Except as provided in Schedule 5.16 attached hereto, the
Corporation has not extended any offer or promise or entered into any agreement, arrangement, understanding or otherwise, whether written or oral, with any person or entity by which the Corporation
has agreed to allow such person or entity to participate, in any way, in the affairs of the Board of Directors of the Corporation, including without limitation, appointment or nomination as a member,
or right to appear at, or receive the minutes of, a meeting of the Board of Directors of the Corporation. 

        5.17
Environmental Matters. 

        (a)
The Corporation has not used, generated, manufactured, refined, treated, transported, stored, handled, disposed, transferred, produced, processed or released (together defined as
"Release") any Hazardous Materials (as hereinafter defined) in any manner or by any means in violation of any Environmental Laws (as hereinafter defined). Except as described or
Schedule 5.17(a) attached hereto, to the best of the Corporation's knowledge and belief, the Corporation has not Released any Hazardous Material or other pollutant or effluent into, on or from
the Property in a way which can pose a risk to human health or the environment, nor is there a threat of such Release. As used herein, the term "Property" shall include, without limitation, land,
buildings and other facilities owned or leased by the Corporation or as to which the Corporation now has any duties, responsibilities (for clean-up, remedy or otherwise) or liabilities
under any Environmental Laws, or as to which the Corporation or any subsidiary of the Corporation may have such duties, responsibilities or liabilities because of past acts or omissions of the
Corporation or any such subsidiary or their predecessors, or because the Corporation or any such subsidiary or their predecessors in the past was such an owner or operator of, or bore some other
relationship with, such land, buildings and/or facilities. The term "Hazardous Materials" shall include, without limitation, any flammable explosives, petroleum products, petroleum byproducts,
radioactive materials, hazardous wastes, hazardous substances, toxic substances or related materials as defined by the Environmental Laws. 

        (b)
No notice of lien under any Environmental Laws has been filed against any Property of the Corporation. 

        5.18
SEC Reports. The Corporation has made available to the Investors its registration statement, and all amendments and exhibits thereto,
filed with the SEC in connection with its initial public offering, and each other report, registration statement, proxy statement or information statement, including, without limitation the 34 Act
Reports, filed by it with the SEC under the Securities Laws since the effective date of that registration statement (the "Corporation Reports"). The Corporation has timely filed all such documents
required to be filed by it with the SEC under the Securities Laws and, as of their respective dates, the Corporation Reports (i) complied as to form in all material respects with the applicable
requirements of the Securities Laws and (ii) did not contain any untrue 

11

 

statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements made therein not misleading in light of the circumstances under which
such statements were made. Except as set forth on Schedule 5.19 and to the best of the Corporation's knowledge, none of the Corporation Reports
currently is the subject of any review or investigation by the SEC or any other government authority and there is no currently unresolved violation asserted by the SEC or any government authority with
respect to any of the Corporation Reports. 

        5.19
Listing. The Corporation's Common Stock is included in The Nasdaq SmallCap Market. The Company is in compliance with the terms of its
listing agreement with The Nasdaq Stock Market, Inc. ("Nasdaq"), the Nasdaq Marketplace Rules and Nasdaq's standards for continued listing and has complied or will timely comply with such
agreement and such Rules and standards in connection with the transactions contemplated by this Agreement. No proceeding is pending or, to the best of the Corporation's knowledge, threatened relating
to any unresolved violation of any of such items or delisting of the Corporation's Common Stock and the Corporation has no reason to believe that its Common Stock will not continue to be so listed. 

        5.20
Full Disclosure. The Corporation has provided Investors with all information requested by Investors in connection with their decision
to purchase the Series B Preferred Shares and Warrants. Neither this Agreement, the Schedules hereto, the related agreements nor any other document delivered by the Corporation to Investors or
their attorneys or agents in connection herewith or therewith or with the transactions contemplated hereby or thereby, contain any untrue statement of a material fact. As used in this
Section 5, the term "to the best of the Corporation's knowledge and belief" shall mean and include, (a) with respect to matters relating directly to the Corporation and its operations,
actual knowledge of the Corporation's executive officers or that knowledge which a prudent business person reasonably would have discovered in the management of his or her business affairs after
making reasonable inquiry and exercising due diligence with respect thereto, and (b) with respect to all other events or conditions, actual knowledge of the Corporation's executive officers. 

        SECTION
6. Representations and Warranties of the Investors to the Corporation. 

        Each
of the Investors, as to itself, severally and not jointly, represents and warrants to the Corporation as follows: 

        (a)
It is acquiring the Series B Preferred Shares and Warrants, as applicable, and, in the event it should acquire Reserved Shares upon conversion of the Series B Preferred
Shares or exercise of the Warrants, it will be acquiring such Reserved Shares or Series B Preferred Shares, as applicable, for its own account, for investment and not with a view to the
distribution thereof within the meaning of the Securities Act. 

        (b)
It is an "accredited investor" as such term is defined in Rule 501(a) promulgated under the Securities Act. 

        (c)
It agrees that the Corporation may place a legend on the certificates delivered hereunder stating that the Series B Preferred Shares and any Reserved Shares have not been
registered under the Securities Act, and, therefore, cannot be offered, sold or transferred unless they are registered under the Securities Act or an exemption from such registration is available. 

        (d)
The execution, delivery and performance by it of this Agreement have been duly authorized by all requisite action of it. 

        (e)
It further understands that the exemptions from registration afforded by Rule 144 and Rule 144A (the provisions of which are known to it) promulgated under the
Securities Act depend on the satisfaction of various conditions, and that, if applicable, Rule 144 may afford the basis for sales only in limited amounts. 

12

 

        (f)
It has such knowledge and experience in business and financial matters and with respect to investments in securities of "small cap" companies so as to enable it to understand and
evaluate the risks of its investment in the Series B Preferred Shares and Warrants, as applicable, and form an investment decision with respect thereto. It has been afforded the opportunity
during the course of negotiating the transactions contemplated by this Agreement to ask questions of, and to secure such information from, the Corporation and its officers and directors as it deems
necessary to evaluate the merits of entering into such transactions. With respect to any projections submitted to the Investors by the Corporation, the Investors acknowledge that the projections
contain forward looking statements involving risk and uncertainties and are only the best estimates of the Corporation's management of the expected performance of the business, but projections are
speculative in nature and the assumptions on which they are based can and will change. 

        (g)
If it is a natural person, it has the power and authority to enter into this Agreement. If it is not a natural person, it is duly organized and validly existing and has the power and
authority to enter into this Agreement. Any Investor which is a corporation, partnership or trust represents that it has not been organized, reorganized or recapitalized specifically for the purpose
of acquiring the securities of the Corporation. 

        (h)
It has adequate net worth and means of providing for its current needs and personal contingencies to sustain a complete loss of its investment in the Corporation. 

        SECTION
7. Closing Conditions. 

        7.1  Conditions Precedent to Each Closing. The several obligations of the Investors to purchase and pay for the Series B Preferred
Shares and Warrants at the Closings are subject to the satisfaction of the following conditions precedent: 

        (a)
All proceedings to have been taken and all waivers and consents to be obtained in connection with the transactions contemplated by this Agreement shall have been taken or obtained,
and all documents incidental thereto shall be satisfactory to each Investor (with respect to the Initial Closing) or 2M (with respect to the Option Closing) and its counsel, and each Investor (with
respect to the Initial Closing) or 2M (with respect to the Option Closing) and its counsel shall have received copies (executed or certified, as may be appropriate) of all documents which such
Investor or 2M, as applicable, or its counsel may reasonably have requested in connection with such transactions. 

        (b)
All legal matters incident to the purchase of the Series B Preferred Shares shall be satisfactory to each Investor's or 2M's counsel, as applicable, and the Investors or 2M,
as applicable, shall have received from McCarter & English, counsel for the Corporation, such firm's opinion addressed to the Investors or 2M, as applicable, and dated the date of the Initial
Closing or the Option Closing, as applicable, in the form attached hereto as Exhibit D. 

        (c)
All consents, permits, approvals, qualifications and/or registrations required to be obtained or effected under any applicable securities or "Blue Sky" laws of any jurisdiction shall
have been obtained or effected. 

        7.2
Conditions Precedent to the Initial Closing. The several obligations of the Investors to purchase and pay for the Series B
Preferred Shares to be purchased at the Initial Closing are subject to the satisfaction of the following conditions precedent: 

        (a)
The representations and warranties of the Corporation contained herein shall be true and correct on and as of the date of the Initial Closing with the same force and effect as though
such representations and warranties had been made on and as of such date. 

        (b)
A duly executed Certificate of Designation shall have been filed with and accepted by the Secretary of State of Delaware. 

13

 

        (c)
The Corporation shall have delivered to the Investors a certificate or certificates, dated the Initial Closing Date, of the Secretary of the Corporation certifying as to
(i) the resolutions of the Corporation's Board of Directors approving (A) the issuance to the Investors of the Series B Preferred Shares in accordance with the Initial Closing
and, subject to receipt of the Required Shareholder Approval, the Option Shares and the Warrants, (B) the amendment to the Perficient 1999 Stock Option/Stock Issuance Plan (the "Plan") to
increase the number of shares available for grant under the Plan by 1,000,000 shares, such shares to be reserved and made available for grant by the Compensation Committee of the Board of Directors,
to members of senior management of the Corporation, it being understood that the number of shares available for such grant shall be equal to the same percentage of 1,000,000 as the investment in
Series B Preferred Shares is of 2,777,500, (C) the execution and delivery of such other documents and instruments as may be required by this Agreement, and the consummation of the
transactions contemplated hereby, and (D) certifying that such resolutions were duly adopted and have not been rescinded or amended as of said date, and (ii) the name and the signature
of the officers of the Corporation authorized to sign, as appropriate, this Agreement and the other documents and certificates to be delivered pursuant to this Agreement by either the Corporation or
any of its officers. 

        (d)
The Corporation shall have delivered to the Investors a certificate or certificates, dated the Initial Closing Date, of the President of the Corporation certifying as to the accuracy
of the representations and warranties made by the Corporation pursuant to this Agreement. 

        (e)
The Corporation shall have duly executed and delivered an Investors Rights Agreement in the form attached hereto as Exhibit C
and such Investors Rights Agreement shall also have been duly executed by each other Investor (as defined in the Investors Rights Agreement). 

        (f)
The Investors shall have received duly executed Voting Agreements, in the form attached hereto as Exhibit E, from the holders
of such number of shares of the Corporation's Common Stock as would comprise a majority of the shares of Common Stock to be outstanding on the record date for the meeting of the Corporation's
shareholders at which the transactions contemplated by this Agreement will be presented for approval. 

        (g)
Each closing with respect to the sale of Common Stock by each of Steven Papermaster, Robert Anderson and Bryan Menell to 2M shall have occurred simultaneously with the Initial
Closing. 

        7.3  Conditions Precedent to the Option Closing. In addition to the continuing satisfaction of the conditions set forth in
Section 7.1 hereof, the obligation of 2M to purchase and pay for the Series B Preferred Shares and Warrants to be purchased pursuant to the 2M Option at the Option Closing is subject to
the satisfaction of the following conditions precedent: 

        (a)
The representations and warranties of the Corporation contained herein shall be true and correct on and as of the date of the Option Closing with the same force and effect as though
such representations and warranties had been made on and as of such date. 

        (b)
The Corporation shall have delivered to 2M a certificate or certificates, dated the Option Closing Date, of the Secretary of the Corporation certifying as to (i) the
resolutions of the Corporation's Board of Directors approving the issuance to 2M of the Series B Preferred Shares and Warrants, the execution and delivery of such other documents and
instruments as may be required by this Agreement, and the consummation of the transactions contemplated hereby, and certifying that such resolutions were duly adopted and have not been rescinded or
amended as of said date, and (ii) the name and the signature of the officers of the Corporation authorized to sign, as appropriate, this Agreement and the other documents and certificates to be
delivered pursuant to this Agreement by either the Corporation or any of its officers. 

14

 

        (c)
The Corporation shall have delivered to 2M a certificate or certificates, dated the Option Closing Date, of the President of the Corporation certifying as to the accuracy of the
representations and warranties made by the Corporation pursuant to this Agreement. 

        (d)
The Corporation shall have duly executed and delivered an Investors Rights Agreement in the form attached hereto as Exhibit C. 

        (e)
The Corporation shall have received the Required Shareholder Approval. 

        7.4
Conditions to Obligations of the Corporation. It shall be a condition precedent to the obligations of the Corporation hereunder to be
performed at each of the Closings as to each Investor severally, but not jointly, as the case may be, that (i) the representations and warranties contained herein of each of the Investors
hereunder (with respect to the Initial Closing) or 2M (with respect to the Option Closing) shall be true and correct as of the date of the Initial Closing or the Option Closing, as the case may be,
with the same force and effect as though such representations and warranties had been made on and as of such date, (ii) with respect to the Initial Closing, each Investor shall have delivered
payment of the purchase price as set forth in Section 3 and Schedule 1 and (iii) with respect to the Option Closing, 2M shall have delivered payment of the purchase price
determined pursuant to Section 3.1(b) of this Agreement. 

        SECTION
8. Expenses and Fees. 

        The
Corporation agrees to pay, in connection with the preparation, execution, delivery, filing, administration, modification and amendment of this Agreement, the Certificate of
Designation, the Warrants, the Investor Rights Agreement and the other documents to be delivered under this Agreement, all costs and expenses, not to exceed $10,000 in the aggregate, incurred by the
Investors in connection therewith, including the fees and out-of-pocket expenses of counsel for the Investors with respect thereto and with respect to advising the Investors as
to their rights and responsibilities under this Agreement, the Certificate of Designation, the Warrants and the Investor Rights Agreement, as modified from time to time. The Corporation further agrees
that it will pay, and hold each of the Investors harmless from, any and all liability with respect to any stamp or similar taxes which may be determined to be payable in connection with the execution
and delivery of this Agreement or any modification, amendment or alteration of the terms or provisions of this Agreement and that it will similarly pay, and hold each of the Investors harmless from,
all issue taxes in respect of the issuance of the Series B Preferred Shares and/or Reserved Shares to each of the Investors. 

        SECTION
9. Brokers or Finders. 

        The
Corporation represents and warrants to each of the Investors, and each of the Investors, as to itself, represents and warrants to the Corporation that, other than as listed on
Schedule 9, no person or entity has or will have, as a result of the transactions contemplated by this Agreement, any right, interest or valid claim against or upon the Corporation or the
Investors for any commission, fee or other compensation as a finder or broker because of any act or omission by the Corporation or the Investors or by any agent of the Corporation or the Investors. 

        SECTION
10. Exchanges; Lost, Stolen or Mutilated Certificates. 

        Upon
surrender by any Investor to the Corporation of Series B Preferred Shares or Reserved Shares purchased or acquired by such Investor hereunder, the Corporation, at its
expense, will issue in exchange therefor, and deliver to such Investor, a new certificate or certificates representing such shares in such denominations as may be requested by such Investor. Upon
receipt of evidence satisfactory to the Corporation of the loss, theft, destruction or mutilation of any certificate representing any shares of Common Stock or Preferred Stock purchased or acquired by
any Investor hereunder and, in case of any such loss, theft or destruction, upon delivery of any indemnity agreement satisfactory to the Corporation, or in case of any such mutilation, upon surrender
and cancellation of 

15

 

such certificate, the Corporation, at its expense, will issue and deliver to such Investor a new certificate for such shares of Common Stock or Preferred Stock, as applicable, of like tenor, in lieu
of such lost, stolen or mutilated certificate. 

        SECTION
11. Survival of Representations and Warranties. 

        The
representations and warranties set forth in Sections 5 and 6 hereof shall survive the each of the Initial Closing and the Option Closing, if any. 

        SECTION
12. Remedies. 

        In
case any one or more of the covenants and/or agreements set forth in this Agreement shall have been breached by any party hereto, the party or parties entitled to the benefit of such
covenants or agreements may proceed to protect and enforce their rights either by suit in equity and/or action at law, including, but not limited to, an action for damages as a result of any such
breach and/or an action for specific performance of any such covenant or agreement contained in this Agreement. The rights, powers and remedies of the parties under this Agreement are cumulative and
not exclusive of any other right, power or remedy which such parties may have under any other agreement or law. No single or partial assertion or exercise of any right, power or remedy of a party
hereunder shall preclude any other or further assertion or exercise thereof. 

        SECTION
13. Successors and Assigns. 

        Except
as otherwise expressly provided herein, this Agreement shall bind and inure to the benefit of the Corporation and each of the Investors and the respective permitted successors and
assigns of each of the Investors and the permitted successors and assigns of the Corporation. 

        SECTION
14. Entire Agreement. 

        This
Agreement, together with the other writings referred to herein or delivered pursuant hereto which form a part hereof, contains the entire agreement among the parties with
respect to the subject matter hereof and amends, restates and supersedes all prior and contemporaneous arrangements or understandings, whether written or oral, with respect thereto. 

        SECTION
15. Notices. 

        All
notices, requests, consents and other communications hereunder to any party shall be deemed to be sufficient if contained in a written instrument delivered in person or duly sent by
first class registered, certified or overnight mail, postage prepaid, or telecopied with a confirmation copy by regular mail, addressed or telecopied, as the case may be, to such party at the address
or telecopier number, as the case may be, set forth below or such other address or telecopier number, as the case may be, as may hereafter be designated in writing by the addressee to the addressor
listing all parties: 

        (i)
if to the Corporation, to: 

Perficient, Inc.

7600-B North Capital of Texas Highway

Suite 340

Austin, Texas 78731

Attention: John T. McDonald, Chief Executive Officer

Telecopier: (512) 531-6100 

        with
a copy to: 

McCarter &
English, LLP

Four Gateway Center

100 Mulberry Street

Newark, New Jersey 07102-4096

Attention: Jeffrey A. Baumel Esq.

Telecopier: (973) 624-7070 

16

 

        (ii)
if to Investors, at the respective addresses set forth on Schedule 1, 

        with
a copy to: 

Vinson &
Elkins L.L.P.

3700 Trammell Crow Center

2001 Ross Avenue

Dallas, TX 75201-2975

Attention: Greg Hidalgo, Esq.

Telecopier: (214) 220-7716 

        All
such notices, requests, consents and other communications shall be deemed to have been received: (a) in the case of personal delivery, on the date of such delivery;
(b) in the case of mailing, on the third business day following the date of such mailing; (c) in the case of overnight mail, on the first business day following the date of such mailing;
and (d) in the case of facsimile transmission, when confirmed by facsimile machine report. 

        SECTION
16. Changes. 

        The
terms and provisions of this Agreement may not be modified or amended, or any of the provisions hereof waived, temporarily or permanently, except pursuant to a writing executed by a
duly authorized representative of the Corporation and a majority in voting power of the outstanding Series B Preferred Shares and/or Reserved Shares with each such holder entitled to the number
of votes for each such Preferred Share that equals the number of shares of Common Stock (including fractional shares) into which each such Preferred Share is then convertible, rounded up to the
nearest one-tenth of a share. 

        SECTION
17. Counterparts. 

        This
Agreement may be executed in any number of counterparts, and each such counterpart shall be deemed to be an original instrument, but all such counterparts together shall constitute
but one agreement. 

        SECTION
18. Headings. 

        The
headings of the various sections of this Agreement have been inserted for convenience of reference only and shall not be deemed to be a part of this Agreement. 

        SECTION
19. Nouns and Pronouns. 

        Whenever
the context may require, any pronouns used herein shall include the corresponding masculine, feminine or neuter forms, and the singular form of names and pronouns shall include
the plural and vice-versa. 

        SECTION
20. Severability. 

        Any
provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in
any other jurisdiction. 

        SECTION
21. Governing Law. 

        This
Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, excluding choice of laws rules thereof. 

17

 

        IN WITNESS WHEREOF, the parties hereto have executed this Convertible Preferred Stock Purchase Agreement as of the date first above
written. 

	 	 	PERFICIENT, INC.
	

 	
 	

By:	

/s/  JOHN T. MCDONALD      
 John T. McDonald
 Chief Executive Officer
	

 	
 	
INVESTORS:
	

 	
 	
2M TECHNOLOGY VENTURES, L.P.
	

 	
 	

                By: 2M TECHNOLOGY GROUP, L.L.C., its general partner
	

 	
 	

By:	

 
	 	 	 	
 Name:

Title:

18

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Exhibit 10.1

CONVERTIBLE PREFERRED STOCK PURCHASE AGREEMENTQuickLinks
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Exhibit 10.2    
  

 
 

PERFICIENT INC.    
  

 
 

FIRST AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT    
  

        THIS FIRST AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT (the "Agreement") is entered into as of June 26,
2002, by and among Perficient, Inc., a Delaware corporation (including its successors, the "Company"), the holders of the Company's Series A Preferred Stock (the "Series A
Preferred Stock") set forth on Exhibit A hereto and the holders of the Company's Series B Preferred Stock (the "Series B Preferred Stock") set forth on Exhibit B hereto.
All of the holders of the Series A Preferred Stock and the Series B Preferred Stock shall be referred to hereinafter as the "Investors" and each individually as an "Investor." 

 
 

RECITALS    
  

        WHEREAS, the Company and each of the Investors have entered into one of the following agreements: (a) the Convertible Preferred Stock Purchase Agreement,
dated as of December 30, 2001, pursuant to which such Investors have purchased an aggregate of up to 2,200,000 shares of Series A Preferred Stock and warrants to purchase up to 1,100,000
shares of Common Stock of the Company (the "Series A Purchase Agreement") or (b) the Convertible Preferred Stock Purchase Agreement, dated as of the date hereof, pursuant to which such
Investors may purchase an aggregate of up to 2,777,500 shares of Series B Preferred Stock and warrants to purchase up to 1,388,750 shares of Common Stock of the Company (the "Series B
Purchase Agreement" and, together with the Series A Purchase Agreement, the "Purchase Agreements"); 

        WHEREAS,
the holders of Series A Preferred Stock entered into the Investor Rights Agreement dated as of December 30, 2001; 

        WHEREAS,
the Investors requested that the Company extend to them registration rights, information rights and other rights as set forth below as a condition of purchasing the shares of
Series A Preferred Stock and the Series B Preferred Stock; 

        WHEREAS,
the holders of Series A Preferred Stock wish to amend and restate the original Investor Rights Agreement to include the holders of Series B Preferred Stock, and to
provide for such additional terms as provided for herein; 

        NOW,
THEREFORE, in consideration of the mutual promises, representations, warranties, covenants and conditions set forth in this Agreement and the investment of the Investors in the
Series A Preferred Stock and the Series B Preferred Stock, the parties mutually agree as follows: 

 
 

SECTION 1. GENERAL    
  

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

        "2M" means 2M Technology Ventures, L.P. 

        (a)    "Common Stock" means common stock of the Company, par value $.001, and the capital stock of the Company into which such
common stock may be converted or changed. 

        (b)    "Exchange Act" means the Securities Exchange Act of 1934, as amended. 

        (c)    "Form S-3" means such form under the Securities Act as in effect on the date hereof or any successor
registration form under the Securities Act subsequently adopted by the SEC which permits inclusion or incorporation of substantial information by reference to other documents filed by the Company with
the SEC. 

        (d)    "Holder" means any Series A Holder or Series B Holder. 

 

        (e)    "Holders" means, collectively, the Series A Holders and the Series B Holders. 

        (f)    "Initial Closing" has the meaning given such term in the Purchase Agreement. 

        (g)    "Option Closing" has the meaning given such term in the Purchase Agreement. 

        (h)    "Option Shares" has the meaning given such term in the definition of Shares below. 

        (i)    "Purchase Agreement" has the meaning given to such term in the Recitals to this Agreement. 

        (j)    "Register," "registered," and "registration" refer to a registration
effected by preparing and filing a registration statement in compliance with the Securities Act, and the declaration or ordering of effectiveness of such registration statement or document by the SEC. 

        (k)    "Registrable Securities" means, collectively, the Series A Registrable Securities and the Series B
Registrable Securities. 

        (l)    "Registrable Securities then outstanding" shall be the number of shares determined by calculating the total number of
shares of the Company's Common Stock that are Registrable Securities and either (a) are then issued and outstanding or (b) are issuable pursuant to then exercisable or convertible
securities. 

        (m)    "Registration Expenses" shall mean all expenses incurred by the Company in complying with Sections 2.2, 2.3 and 2.4
hereof, including, without limitation, all registration and filing fees, printing expenses, fees and disbursements of counsel for the Company, reasonable fees and disbursements of a single
special counsel for the Holders, blue sky fees and expenses and the expense of any special audits incident to or required by any such registration (but excluding the compensation of regular employees
of the Company which shall be paid in any event by the Company). 

        (n)    "SEC" or "Commission" means the Securities and Exchange Commission. 

        (o)    "Securities Act" shall mean the Securities Act of 1933, as amended. 

        (p)    "Selling Expenses" shall mean all underwriting discounts and selling commissions applicable to a sale. 

        (q)    "Series A Holder" shall mean any person owning of record Series A Registrable Securities that have not been
sold to the public or any assignee of record of such Series A Registrable Securities in accordance with Section 2.7 hereof. 

        (r)    "Series B Holder" shall mean any person owning of record Series B Registrable Securities that have not been
sold to the public or any assignee of record of such Series B Registrable Securities in accordance with Section 2.7 hereof. 

        (s)    "Series A Registrable Securities" means (a) Common Stock of the Company issued or issuable upon conversion
of the Series A Shares; (b) Common Stock of the Company issued or issuable upon exercise of the Warrants sold by the Company in connection with the sale of the Series A Shares;
and (c) any Common Stock of the Company issued as (or issuable upon the conversion or exercise of any warrant, right or other security which is issued as) a dividend or other distribution with
respect to, or in exchange for or in replacement of, such above described securities. Notwithstanding the foregoing, Series A Registrable Securities shall not include any securities sold by a
person to the public pursuant to a registration statement or Rule 144 or sold in a private transaction in which the transferor's rights under Section 2 of this Agreement are not
assigned. 

        (t)    "Series B Registrable Securities" means (a) Common Stock of the Company issued or issuable upon conversion
of the Series B Shares; (b) Common Stock of the Company issued or issuable upon exercise of the Warrants sold by the Company in connection with the sale of the Series B Shares;
(c) the 300,000 shares of Common Stock of the Company purchased by 2M from Steven Papermaster 

2

 

on the date of the Initial Closing; (d) the 100,000 shares of Common Stock of the Company purchased by 2M from Robert Anderson on the date of the Initial Closing; (e) the 100,000 shares
of Common Stock of the Company purchased by 2M from Bryan Menell on the date of the Initial Closing; and (f) any Common Stock of the Company issued as (or issuable upon the conversion or
exercise of any warrant, right or other security which is issued as) a dividend or other distribution with respect to, or in
exchange for or in replacement of, such above described securities. Notwithstanding the foregoing, Series B Registrable Securities shall not include any securities sold by a person to the
public pursuant to a registration statement or Rule 144 or sold in a private transaction in which the transferor's rights under Section 2 of this Agreement are not assigned. 

        (u)    "Series A Shares" has the meaning given such term in the definition of Shares below. 

        (v)    "Series B Shares" has the meaning given such term in the definition of Shares below. 

        (w)    "Shares" shall mean (i) the shares of the Company's Series A Preferred Stock owned by the Investors listed
on Exhibit A hereto and their permitted assigns (the "Series A Shares") and (ii) the shares of the Company's Series B Preferred Stock (a) owned by the Investors
listed on Exhibit B hereto and their permitted assigns or (b) purchased at the Option Closing (the "Option Shares") by 2M (including its successors) and its affiliates and permitted
assigns (collectively, the "Series B Shares"). 

        (x)    "Stockholders" shall mean the holders of the issued and outstanding Common Stock. 

        (y)    "Warrants" shall mean the Stock Purchase Warrants to purchase initially one share of Common Stock at a price of $2.00 per
share, issued in connection with the sale of the Series A Preferred Stock and the Series B Preferred Stock. 

 
 

SECTION 2. REGISTRATION; RESTRICTIONS ON TRANSFER    
  

	2.1
	Restrictions on Transfer.

	(a)
	Each
certificate representing Shares or Registrable Securities shall (unless otherwise permitted by the provisions of the Agreement) be stamped or otherwise imprinted with a legend
substantially similar to the following (in addition to any legend required under applicable state securities laws): 

THE
SECURITIES REPRESENTED HEREBY HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 (THE "ACT") AND MAY NOT BE OFFERED, SOLD OR OTHERWISE TRANSFERRED, ASSIGNED, PLEDGED OR HYPOTHECATED UNLESS
AND UNTIL REGISTERED UNDER THE ACT OR UNLESS THE COMPANY HAS RECEIVED AN
OPINION OF COUNSEL OR OTHER EVIDENCE REASONABLY SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH REGISTRATION IS NOT REQUIRED. 

	(b)
	The
Company shall be obligated to reissue promptly unlegended certificates at the request of any holder thereof if the holder shall have obtained an opinion of counsel (which counsel
may be counsel to the Company) reasonably acceptable to the Company to the effect that the securities proposed to be unlegended may lawfully be so disposed of without registration, qualification or
legend.

	(c)
	Any
legend endorsed on an instrument pursuant to applicable state securities laws and the stop transfer instructions with respect to such securities shall be removed upon receipt by
the Company of an order of the appropriate blue sky authority authorizing such removal. 

	2.2
	Automatic Registration.
	(a)
	(i)    The
Company shall, within 5 days of the receipt of the Required Shareholder Approval, as defined in the Series B Purchase Agreement, give notice (the
"Initial Notice") to all 

3

 

Series B
Holders. Subject to the conditions of this Section 2.2, such Series B Holders shall have the right, by giving written notice to the Company within 15 days after
their receipt of the Initial Notice, to elect to have included in a Registration Statement on Form S-3 to be filed by the Company such of their Registrable Securities as such
Series B Holders may request in such notice of election, and the Company shall file, within 30 days of the date of the Initial Notice, a registration statement covering the resale of all
Registrable Securities that such Series B Holders request to be registered in such notice of election; provided, however, that the Company shall
not be required to effect a registration pursuant to this Section 2.2(a)(i) prior to the date that is 30 days following the receipt of the Required Shareholder Approval. 

(ii)    The
Company shall, within 15 days of the Option Closing, give notice (the "Option Notice") to all Series B Holders. Subject to the conditions of this
Section 2.2, such Series B Holders shall have the right, by giving written notice to the Company within 15 days after their receipt of the Option Notice, to elect to have included
in a Registration Statement on Form S-3 to be filed by the Company such of their Registrable Securities as such Series B Holders may request in such notice of election, and
the Company shall file, within 30 days of the date of the Option Notice, a registration statement covering the resale of all Registrable Securities that such Series B Holders request to
be registered in such notice of election; provided, however, that the Company shall not be required to effect a registration pursuant to this
Section 2.2(a)(ii) prior to the date that is 30 days following the Option Closing. 

	(b)
	If,
in either of the cases described in clauses (a)(i) or (a)(ii) above, the Company shall furnish to the Holders a certificate signed by the Chairman of the Board
stating that in the good faith judgment of the Board of Directors, it would be seriously detrimental to the Company and its stockholders for the Registration Statement required to be filed by the
Company pursuant to Section 2.2(a)(i) or
2.2(a)(ii) above, as applicable, to be effected at such time, the Company shall have the one-time right to defer each such filing for a period of not more than 90 days after
the date of the receipt of the Required Shareholder Approval or the Option Closing, as applicable. 

	2.3
	Expenses of Registration. Except as specifically provided herein, all Registration Expenses incurred in connection with the
registration, qualification or compliance pursuant to Section 2.2 herein shall be borne by the Company. All Selling Expenses incurred in connection with the registrations hereunder shall be
borne by the applicable Holders selling the securities, as the case may be. Notwithstanding the foregoing, the applicable Holders shall be solely responsible for the fees and expenses of any counsel
retained by the individual Holders in connection with such registration and any transfer taxes or Selling Expenses incurred by the applicable Holders in connection therewith.

	2.4
	Obligations of the Company. In connection with the registration of Registrable Securities pursuant to Section 2.2 hereunder, the
Company shall:

	(a)
	Use
its best efforts to cause such registration statement to become effective and to keep such registration statement effective until the applicable Holder or Holders have completed
the distribution thereof, including but not limited to the Company maintaining eligibility to register its securities on Form S-3.

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

4

 

above,
including such amendments and supplements as may be necessary for the applicable Holders to sell their Registrable Shares in an underwritten offering. 

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

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

	(e)
	In
the event of any underwritten public offering, enter into and perform its obligations under an underwriting agreement, in usual and customary form, with the managing underwriter(s)
of such offering, and otherwise cooperate with the applicable Holders as requested in connection with such offering, including, without limitation causing its Chief Executive Officer and Chief
Financial Officer to participate in a "road show" in connection with such underwritten offering.

	(f)
	Notify
each applicable Holder of Registrable Securities covered by such registration statement at any time when a prospectus relating thereto is required to be delivered under the
Securities Act of the happening of any event as a result of which the prospectus included in such registration statement, as then in effect, includes an untrue statement of a material fact or omits to
state a material fact required to be stated therein or necessary to make the statements therein not misleading in the light of the circumstances then existing.

	(g)
	Use
its best efforts to furnish, on the date that such Registrable Securities are delivered to the underwriters for sale, if such securities are being sold through underwriters,
(i) an opinion, dated as of such date, of the counsel representing the Company for the purposes of such registration, in form and substance as is customarily given to underwriters in an
underwritten public offering, addressed to the underwriters, and (ii) a letter dated as of such date, from the independent certified public accountants of the Company, in form and substance as
is customarily given by independent certified public accountants to underwriters in an underwritten public offering addressed to the underwriters.

	(h)
	Cause
the Registrable Securities to be listed or included on each securities exchange on which similar securities are then listed or included. 

	2.5
	Furnishing Information. It shall be a condition precedent to the obligations of the Company to take any action pursuant to
Section 2.2, that the selling Holders shall furnish to the Company such information regarding themselves, the Registrable Securities held by them and the intended method of disposition of such
securities and such other information as shall be required to effect the registration of their Registrable Securities and otherwise comply with the Securities Act.

	2.6
	Indemnification. In the event any Registrable Securities are included in a registration statement under Section 2.2:

	(a)
	To
the extent permitted by law, the Company will indemnify and hold harmless each Holder and the partners, officers, directors, member, managers and stockholders of each Holder, any
underwriter (as defined in the Securities Act) for such Holder and each person, if any, who controls such Holder or underwriter within the meaning of the Securities Act or the Exchange Act, against
any losses, claims, damages, or liabilities (joint or several) to which they may become subject under the Securities Act, the Exchange Act or other federal or state law, 

5

 

insofar
as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon any of the following statements, omissions or violations (collectively a
"Violation") by the Company: (i) any untrue statement or alleged untrue statement of a material fact contained in such registration statement, including any preliminary prospectus or final
prospectus contained therein or any amendments or supplements thereto, (ii) the omission or alleged omission to state therein a material fact required to be stated therein, or necessary to make
the statements therein not misleading, or (iii) any violation or alleged violation by the Company of the Securities Act, the Exchange Act, any state securities law or any rule or regulation
promulgated under the Securities Act, the Exchange Act or any state securities law in connection with the offering covered by such registration statement. The Company will pay as incurred to each such
Holder, partner, officer, director, member, manager, stockholder, underwriter or controlling person any legal or other expenses reasonably incurred by them in connection with investigating or
defending any such loss, claim, damage, liability or action arising from or related to a Violation (subject to recoupment if this indemnification is determined to be inapplicable); provided however,
that the indemnity agreement contained in this Section 2.6(a) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action if such settlement is effected
without the consent of the Company, which consent shall not be unreasonably withheld, nor shall the Company be liable in any such case for any such loss, claim, damage, liability or action to the
extent that it arises out of or is based upon a Violation which occurs in reliance upon and in conformity with written information furnished expressly for use in connection with such registration by
such Holder, partner, officer, director, member, manager, stockholder, underwriter or controlling person of such Holder. 

	(b)
	To
the extent permitted by law, each Holder will, if Registrable Securities held by such Holder are included in the securities as to which such registration, qualification or
compliance is being effected, severally and not jointly, indemnify and hold harmless the Company, each of its directors, its officers and each person, if any, who controls the Company within the
meaning of the Securities Act, any underwriter and any other Holder selling securities under such registration statement or any of such other Holder's partners, members, managers, directors, officers
or stockholders or any person who controls such Holder, against any losses, claims, damages or liabilities to which the Company or any such person may become subject under the Securities Act, the
Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities (or actions in respect thereto) arise out of or are based upon any Violation, in each case to the
extent (and only to the extent) that such Violation occurs in reliance upon and in conformity with written information furnished by such Holder under an instrument duly executed by such Holder and
stated to be specifically for use in connection with such registration; and each such Holder will pay as incurred any legal or other expenses reasonably incurred by the Company or any such person in
connection with investigating or defending any such loss, claim, damage, liability or action if it is judicially determined that there was such a Violation; provided,
however, that the indemnity agreement contained in this Section 2.6(b) shall not apply to amounts paid in settlement of any such loss, claim, damage, liability or action
if such settlement is effected without the consent of the Holder, which consent shall not be unreasonably withheld; provided further, that in no event
shall any indemnity under this Section 2.6 exceed the net proceeds from the offering received by such Holder.

	(c)
	Promptly
after receipt by an indemnified party under this Section 2.6 of notice of the commencement of any action (including any governmental action), such indemnified party
will, if a claim in respect thereof is to be made against any indemnifying party under this Section 2.6, deliver to the indemnifying
party a written notice of the commencement thereof and the indemnifying party shall have the right to participate in, and, to the extent the 

6

 

indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume the defense thereof with counsel mutually satisfactory to the parties;  provided, however, that an indemnified
party shall have the right to retain its own counsel, with the fees and expenses to be paid by the indemnifying
party, if representation of such indemnified party by the counsel retained by the indemnifying party would be inappropriate due to actual or potential differing interests between such indemnified
party and any other party represented by such counsel in such proceeding. The failure to deliver written notice to the indemnifying party within a reasonable time of the commencement of any such
action, if materially prejudicial to its ability to defend such action, shall relieve such indemnifying party of any liability to the indemnified party under this Section 2.6, but the omission
so to deliver written notice to the indemnifying party will not relieve it of any liability that it may have to any indemnified party otherwise than under this Section 2.6. 

	(d)
	If
the indemnification provided for in this Section 2.6 is held by a court of competent jurisdiction to be unavailable to an indemnified party with respect to any losses,
claims, damages or liabilities referred to herein, the indemnifying party, in lieu of indemnifying such indemnified party thereunder, shall to the extent permitted by applicable law contribute to the
amount paid or payable by such indemnified party as a result of such loss, claim, damage or liability in such proportion as is appropriate to reflect the relative fault of the indemnifying party on
the one hand and of the indemnified party on the other in connection with the Violation(s) that resulted in such loss, claim, damage or liability, as well as any other relevant equitable
considerations. The relative fault of the indemnifying party and of the indemnified party shall be determined by a court of law by reference to, among other things, whether the untrue or alleged
untrue statement of a material fact or the omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties' relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission; provided, that in no event shall any contribution by
a Holder hereunder exceed the net proceeds from the offering received by such Holder.

	(e)
	The
obligations of the Company and Holders under this Section 2.6 shall survive completion of any offering of Registrable Securities in a registration statement and the
termination of this Agreement. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of each indemnified party, consent to entry of any judgment or
enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such
claim or litigation. 

	2.7
	Assignment of Registration Rights. The right to cause the Company to register Registrable Securities pursuant to this Section 2
may be assigned by a Holder to a transferee or assignee of Registrable Securities (and any such assignee or transferee shall thereafter be deemed a Holder under this Agreement) which (a) is a
subsidiary, parent, general partner, limited partner, retired partner, member, retired member or affiliate of a Holder, (b) is a Holder's immediate family member or trust for the benefit of an
individual Holder or immediate family members, (c) acquires at least 50,000 shares of Registrable Securities (as adjusted for stock splits, combinations and similar events), or
(d) acquires 50% or more the Registrable Securities purchased by such Holder pursuant to the Purchase Agreement; provided, however,
(i) the transferor shall, within ten (10) days after such transfer, furnish to
the Company written notice of the name and address of such transferee or assignee and the securities with respect to which such registration rights are being assigned and (ii) such transferee
shall agree to be subject to all restrictions set forth in this Agreement by executing a counterpart signature page hereto (which shall not be deemed to be an amendment hereto). 

7

 
	2.8
	Amendment of Registration Rights. Any provision of this Section 2 may be amended and the observance thereof may be waived
(either generally or in a particular instance and either retroactively or prospectively), in accordance with Section 4.6 of this Agreement. Any amendment or waiver effected in accordance herein
shall be binding upon each Holder and the Company. By acceptance of any benefits under this Section 2, Holders of Registrable Securities hereby agree to be bound by the provisions hereunder.

	2.9
	"Market Stand-Off" Agreement. Each Holder hereby agrees that such Holder shall not sell or otherwise transfer or dispose of
any Common Stock (or other securities) of the Company held by such Holder (other than those included in the registration) for a period specified by the representative of the underwriters of Common
Stock (or other securities) of the Company, if any, not to exceed one hundred eighty (180) days following the effective date of a registration statement of the Company filed under the
Securities Act in connection with a firm commitment underwritten public offering; provided that all officers and directors of the Company and each holder of at least 1% of the Company's voting
securities enter into similar agreements. Each Holder agrees to execute and deliver such other agreements as may be reasonably requested by the Company or the underwriter which are consistent with the
foregoing or which are necessary to give further effect thereto. The provisions of this Section 2.9 shall not apply to any registration statement related solely to securities offered under any
employee benefit plan, including any registration statement filed on Form S-8 and similar or successor forms, or any registration statement relating to a transaction subject to
Rule 145 under the Securities Act and filed on Form S-4 and similar or successor forms.

	2.10
	Rule 144 Reporting. With a view to making available to the Holders the benefits of certain rules and regulations of the SEC
which may permit the sale of the Registrable Securities to the public without registration under Rule 144 or any similar or analogous rule, the Company agrees to use its best efforts to file
with the SEC, in a timely manner, all reports and other documents required to be filed by the Company under the Exchange Act and to furnish each Holder, upon request, a written statement as to its
compliance with such requirements and such other reports and documents as the Holder may reasonably request in availing itself of any rule or regulation of the SEC allowing it to sell any Registrable
Securities without registration. 

 
 

SECTION 3. COVENANTS OF THE COMPANY    
  

	3.1
	Basic Financial Information and Reporting.

	(a)
	The
Company will maintain true books and records of account in which full and correct entries will be made of all its business transactions pursuant to a system of accounting
established and administered in accordance with generally accepted accounting principles consistently applied, and will set aside on its books all such proper accruals and reserves as shall be
required under generally accepted accounting principles consistently applied.

	(b)
	Within
90 days after the end of each fiscal year of the Company, the Company will furnish each Holder an audited consolidated balance sheet of the Company, as at the end of
such fiscal year, and an audited consolidated statement of income and an audited consolidated statement of cash flows of the Company, for such year, all prepared in accordance with generally accepted
accounting principles consistently applied.

	(c)
	If
the following information is not made available generally by the Company in filings with the SEC, the Company will furnish each Holder within 45 days after the end of the
first three quarterly accounting periods in each fiscal year, a balance sheet of the Company as of the end of each such quarterly period, and statements of income, cash flows and stockholders equity
of the Company for such period and for the current fiscal year to date, prepared in accordance 

8

 

with
GAAP, with the exception that no notes need be attached and year end audit adjustments may not have been made. 

	(d)
	Upon
the request of an Investor who beneficially owns in excess of 250,000 Shares, the Company will furnish to such Investor, prior to the beginning of a fiscal year an annual budget
and operating plans for such fiscal year (and if so requested, any subsequent revisions thereto) 

	3.2
	Inspection Rights. Each Holder shall have the right to visit and inspect any of the properties of the Company or any of its
subsidiaries, and to discuss the affairs, finances and accounts of the Company or any of its subsidiaries with its officers, and to review such information as is reasonably requested all at such
reasonable times and as often as may be reasonably requested; provided, however, that the Company shall not be obligated under this Section with respect
to a competitor of the Company or with respect to information which the Board of Directors determines in good faith is confidential and should not, therefore, be disclosed.

	3.3
	Confidentiality of Records. Each Holder agrees to use, and to use its best efforts to insure that its authorized representatives use,
the same degree of care as such Holder uses to protect its own confidential information to keep confidential any information furnished to it which the Company
identifies in writing as being confidential or proprietary (so long as such information is not in the public domain), except that such Holder may disclose such proprietary or confidential information
to any partner, subsidiary or parent of such Holder for the purpose of evaluating its investment in the Company as long as such partner, subsidiary or parent is advised of, and agrees to comply with,
the confidentiality provisions of this Section 3.3.

	3.4
	Indemnification with respect to Holders; Advancement. Subject to Section 2.6 hereof, the Company hereby agrees to hold harmless
and indemnify the Holders, the Holders' direct and indirect subsidiaries, affiliated entities and corporations, and each of their partners, officers, directors, members, managers, employees,
stockholders, agents, and representatives (collectively, referred to as the "Holder Indemnitees") against any and all expenses (including attorneys' fees), damages, judgments, fines, amounts paid in
settlements, or any other amounts that an Holder Indemnitee incurs as a result of any claim or claims made against him or it in connection with any threatened, pending or completed action, suit,
arbitration, investigation or other proceeding arising out of, or relating to the compliance by the Company of its obligations under this Agreement. 

        The
Company's indemnity obligations set forth above are subject to the Holders providing prompt written notice of a claim. The Company shall control the defense of any such action and,
at its discretion, may enter into a stipulation of discontinuance or settlement thereof; provided that the Company may not discontinue any action or settle any claim in a manner that does not
unconditionally release the Holders without the Holders' prior written approval. The Holders shall, at the Company's expense and reasonable request, cooperate with the Company in any such defense and
shall make available to the Company at the Company's expense all persons and documents (excluding attorney/client or attorney work product materials) reasonably required by the Company in the defense
of any such action. The Holders may, at their expense, assist in such defense. 

        The
Company's liability to any Holder Indemnitee under this section shall be limited to the amount received by the Company from such Holder Indemnitee, and the Company's aggregate
cumulative liability under this Section shall be limited to the amount received by the Company pursuant to the transactions contemplated by this Agreement. 

	3.5
	Election of Director. Immediately following the Closing under the Series B Purchase Agreement, and continuing until such shares
of Series B Preferred Stock are released to the Investors purchasing such shares or the Company, the Investors purchasing such shares of Series B Preferred Stock shall have the right to
designate to the Board of Directors one member who shall be elected by the Board of Directors to fill a vacancy created therein substantially in accordance with the 

9

 

terms
of the Certificate of Designation, Rights and Preferences of Series B Preferred Stock as if the Series B Shares were outstanding. 

	3.6
	Reservation of Common Stock. Subject to obtaining approval of the Stockholders, the Company will at all times reserve and keep
available such number of shares of Common Stock as is issuable upon the
conversion of the Series A Preferred Stock, the Series B Preferred Stock and the exercise of the Warrants. 

 
 

SECTION 4. MISCELLANEOUS    
  

	4.1
	Governing Law. This Agreement shall be governed by and construed under the laws of the State of Delaware as applied to agreements among
Delaware residents entered into and to be performed entirely within Delaware.

	4.2
	Survival. Except as expressly provided herein, the representations, warranties, covenants and agreements made herein shall survive any
investigation made by any Holder and the closing of the transactions contemplated hereby. All statements as to factual matters contained in any certificate or other instrument delivered by or on
behalf of the Company pursuant hereto in connection with the transactions contemplated hereby shall be deemed to be representations and warranties by the Company hereunder solely as of the date of
such certificate or instrument.

	4.3
	Successors and Assigns. Except as otherwise expressly provided herein, the provisions hereof shall inure to the benefit of, and be
binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto and shall inure to the benefit of and be enforceable by each person who shall be a holder of
Registrable Securities from time to time; provided, however, that prior to the receipt by the Company of adequate written notice of the transfer of any
Registrable Securities specifying the full name and address of the transferee, the Company may deem and treat the person listed as the holder of such shares in its records as the absolute owner and
holder of such shares for all purposes, including the payment of dividends.

	4.4
	Entire Agreement. This Agreement, the Exhibits and Schedules hereto, the Series A Preferred Stock Purchase Agreement between the
Holders party thereto and the Company and the other documents delivered pursuant thereto, and the Series B Preferred Stock Purchase Agreement between the Holders party thereto and the Company
and the other documents delivered pursuant thereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and no party shall be liable or
bound to any other in any manner by any representations, warranties, covenants and agreements except as specifically set forth herein and therein.

	4.5
	Severability. In case any provision of the Agreement shall be invalid, illegal, or unenforceable, the validity, legality, and
enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

	4.6
	Amendment and Waiver.

	(a)
	Except
as otherwise expressly provided, this Agreement may be amended or modified only upon the consent of (i) the Company, (ii) the holders of at least a majority of
the Series A Preferred Stock and (iii) the holders of at least a majority of the Series B Preferred Stock.

	(b)
	Except
as otherwise expressly provided, the obligations of the Company and the rights of the Holders under this Agreement may be waived only with the consent of (i) the holders
of at least a majority of the Series A Preferred Stock and (ii) the holders of at least a majority of the Series B Preferred Stock. 

	4.7
	Delays or Omissions. It is agreed that no delay or omission to exercise any right, power, or remedy accruing to any Holder, upon any
breach, default or noncompliance of the Company under this 

10

 

Agreement
shall impair any such right, power or remedy, nor shall it be construed to be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of any similar breach,
default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or character on any Holder's part of any breach, default or noncompliance
under the Agreement or any waiver on such Holder's part of any provisions or conditions of this Agreement must be in writing and shall be effective only to the extent specifically set forth in such
writing. All remedies, either under this Agreement, by law or otherwise afforded to Holders, shall be cumulative and not alternative. 

	4.8
	Notices and Consents. All notices and consents required or permitted hereunder must be in writing and shall be deemed effectively
given: (a) upon personal delivery to the party to be notified, (b) when sent by facsimile if sent during normal business hours of the recipient; if not, then on the next business day,
(c) five days after having been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one business day after deposit with a nationally recognized
overnight courier, specifying next day delivery, with written verification of receipt. All communications shall be sent to the party to be notified at the address as set forth on the signature pages
hereof or Exhibit A hereto or at such other address as such party may designate by ten (10) days advance written notice to the other parties hereto.

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

	4.10
	Attorneys' Fees. In the event that any suit or action is instituted to enforce any provision in this Agreement, the prevailing party
in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this
Agreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals.

	4.11
	Counterparts. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which
together shall constitute one instrument. 

        IN WITNESS WHEREOF, the parties hereto have executed this INVESTOR RIGHTS AGREEMENT as of
the date set forth in the first paragraph hereof. 

	 	 	PERFICIENT, INC.
	

 	
 	

By:	

/s/  JOHN T. MCDONALD      
 Name: John T. McDonald

Title: Chairman

7600-B N. Capital of TX Highway

Austin, TX 78731

 
 

INVESTORS:
  
    Daniel Hilliard    
  

________________________________

 
 

Hilliard Limited Partnership    
  

        
By: ____________________________ 

11

 

____________________________

By: 

 
 

Daniel Hilliard TTEE Flint Trust Amended 6/19/98 UA DTD
  12/20/97 FBO Wallace J Hilliard    
  

By:____________________________

Name:

Title: 

 
 

Julie A. Maccoux & Neal J. Maccoux JT TEN    
  

By:____________________________

Name:

Title: 

 
 

Andrew Hilliard    
  

____________________________

 
 

Hilliard Family Foundation Inc.    
  

By:____________________________

Name:

Title: 

 
 

Daniel Hilliard TTEE Wallace J. Hilliard Irrevocable Trust UA DTD 10/25/99    
  

By:____________________________

Name:

Title: 

 
 

Paul Hilliard    
  

____________________________

 
 

Chris Cline    
  

____________________________

 
 

Richard Chernick    
  

____________________________

12

 

 
 

Frederick Seipp    
  

____________________________

 
 

Ralph Worthington    
  

____________________________

 
 

Watershed-Perficient, LLC    
  

	By:	 	/s/  DAVID S. LUNDEEN      
	 	 
	Name: David Lundeen	 	 
	Title: Managing Member	 	 
	
 WWC Capital Fund, L.P.	
 	

 
	

By:	
 	

WWC CAPITAL MANAGEMENT, LLC
	
 	

 
	

 	
 	

/s/  MICHAEL T. CROMWELL      	
 	

 
	
	 	 
	By:	 	 	 	 
	
 Samuel J. Fatigato	
 	

 
	

	
 	

 
	

John T. McDonald	
 	

 
	

/s/  JOHN T. MCDONALD      
	
 	

 
	
Eric Simone
	
 	

 
	

Jalak Investments BV	
 	

 
	
By:	
 	

	
 	

 
	Name:	 	 
	Title:	 	 
	
2M TECHNOLOGY VENTURES, L.P.	
 	

 
	

By:	
 	

2M TECHNOLOGY GROUP, L.L.C.,

its general partner	
 	

 
	

By:	
 	

	
 	

 
	 	 	Name:	 	 
	 	 	Title:	 	 

13

 
 

Exhibit A    
  

 
 

Investor    
  

Daniel
Hilliard

Hilliard Limited Partnership

Daniel Hilliard TTEE Flint Trust Amended 6/19/98 UA DTD 12/20/97 FBO Wallace J Hilliard

Julie A. Maccoux & Neal J. Maccoux JT TEN

Andrew Hilliard

Hilliard Family Foundation Inc.

Daniel Hilliard TTEE Wallace J. Hilliard Irrevocable Trust UA DTD 10/25/99

Paul Hilliard

Chris Cline

Richard Chernick

Frederick Seipp

Ralph Worthington

Watershed-Perficient, LLC

WWC Capital Fund, L.P.

Samuel J. Fatigato

John T. McDonald

Eric Simone

Jalak Investments BV 

 
 

Exhibit B    
  

 
 

Investor    
  

2M
Technology Ventures, L.P. 

QuickLinks

Exhibit 10.2

PERFICIENT INC.

FIRST AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT

RECITALS

SECTION 1. GENERAL

SECTION 2. REGISTRATION; RESTRICTIONS ON TRANSFER

SECTION 3. COVENANTS OF THE COMPANY

SECTION 4. MISCELLANEOUS

INVESTORS: Daniel Hilliard

Hilliard Limited Partnership

Daniel Hilliard TTEE Flint Trust Amended 6/19/98 UA DTD 12/20/97 FBO Wallace J Hilliard

Julie A. Maccoux & Neal J. Maccoux JT TEN

Andrew Hilliard

Hilliard Family Foundation Inc.

Daniel Hilliard TTEE Wallace J. Hilliard Irrevocable Trust UA DTD 10/25/99

Paul Hilliard

Chris Cline

Richard Chernick

Frederick Seipp

Ralph Worthington

Watershed-Perficient, LLC

Exhibit A

Investor

Exhibit B

Investor

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