Document:

QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 4.8  

 
 

ANTI-DILUTION AGREEMENT
  AMONG
  MDMI HOLDINGS, INC.
  and
  the parties named herein
  Dated as of May 31, 2000  
  

  

 
 

TABLE OF CONTENTS(1)    
    

	(1)
	This
Table of Contents does not constitute a part of this Agreement or have any bearing upon the interpretation of any of its terms or provisions. 

	 
	 	 
	 	Page

	SECTION 1.	 	Reservation of Shares	 	2
	SECTION 2.	 	Payment of Taxes	 	3
	SECTION 3.	 	Obtaining Stock Exchange Listings	 	3
	SECTION 4.	 	Adjustment of Number of Preferred Shares	 	3
	SECTION 5.	 	Fractional Interests	 	9
	SECTION 6.	 	Adjustment Right Notices to Holders	 	9
	SECTION 7.	 	Notices to Company and Holder	 	9
	SECTION 8.	 	Supplements and Amendments	 	9
	SECTION 9.	 	Successors	 	10
	SECTION 10.	 	Termination	 	10
	SECTION 11.	 	Governing Law	 	10
	SECTION 12.	 	Benefits of This Agreement	 	10
	SECTION 13.	 	Counterparts	 	10

i

   
        ANTI-DILUTION AGREEMENT (the "Anti-Dilution Agreement" or this "Agreement") dated as of May 31, 2000 (the "Issue Date") between MDMI Holdings, Inc., a Colorado corporation
(the "Company"), and the parties named herein (together with their successors and assigns, the "Holders"). 

        Terms
defined in the Securities Purchase Agreement (the "Securities Purchase Agreement") dated as of May 31, 2000 among the Company, Medical Device Manufacturing, Inc., a
Colorado corporation and a wholly owned subsidiary of the Company ("MDM"), the guarantors named therein (the "Guarantors") and the purchasers named therein (the "Purchasers") unless defined herein are
used as therein defined. 

        WHEREAS,
the Company proposes to issue shares (the "Preferred Shares") of Class AA Convertible Preferred Stock, as hereinafter described (the "Convertible Preferred Stock"), to purchase
up to 5% of the fully diluted common equity of the Company (which is the sum of the total number of-, shares of Common Stock (the "Common Stock") of the Company and the total number of
shares of Common Stock into which securities of the Company are convertible and outstanding on the Issue Date) (the Common Stock issuable on exercise of the Preferred Shares being referred to herein
as the "Convertible Shares") in connection with a private placement of the Company's Senior Notes due 2008, each Preferred Share entitling the holder thereof to acquire one Convertible Share; and 

        WHEREAS,
the Company proposes to issue shares of Preferred Shares to purchase up to 3% of the fully diluted common equity of the Company in connection with a private placement of MDM's
13.5% Senior Subordinated Notes due 2007, unconditionally guaranteed on an unsecured senior subordinated basis by each of the Guarantors, each Preferred Share entitling the holder thereof to acquire
one Convertible Share. 

        NOW,
THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereto agree as follows: 

        SECTION
1.    Reservation of Shares.    (a)    The Company or, if appointed, the transfer agent for the
Company's capital stock (the "Transfer Agent") and every subsequent transfer agent for any shares of the Company's capital stock will be irrevocably authorized and directed at all times to reserve
such number of authorized shares as shall be required for the purpose of issuing additional Convertible Preferred Shares upon adjustments pursuant to Section 4 hereof. The Company will keep a
copy of this Agreement on file with the Transfer Agent and with every subsequent transfer agent for any shares of the Company's capital stock. The Company will furnish such Transfer Agent a copy of
all notices of adjustments and certificates related thereto, transmitted to each Holder pursuant to Section 7 hereof. 

        The
Company covenants that all Preferred Shares which may be issued and paid for as provided in the Securities Purchase Agreement will, upon issue, be fully paid, nonassessable, free of
preemptive rights and free from all taxes, liens, charges and security interests with respect to the issue thereof. 

        (b)   The
Company will at all times reserve and keep available, free from preemptive rights, out of the aggregate of its authorized but unissued Common Stock or its authorized
and issued Common Stock held in its treasury, for the purpose of enabling it to satisfy any obligation to issue Convertible Shares upon conversion of Preferred Shares, the maximum number of shares of
Common Stock which may then be deliverable upon the exercise of all outstanding Convertible Preferred Shares. 

        SECTION
2.    Payment of Taxes.    The Company will pay all documentary stamp taxes attributable to the initial
issuance of Preferred Shares, and Convertible Shares upon the exercise of Preferred Shares. 

        SECTION
3.    Obtaining Stock Exchange Listings.    The Company will from time to time take all action which may be
necessary so that the Convertible Shares, immediately upon their issuance upon 

2

 

the
exercise of the Preferred Shares, will be listed on the principal securities exchanges and markets within the United States of America, if any, on which other shares of Common Stock are then
listed. 

        SECTION
4.    Adjustment of Number of Preferred Shares.    In the event an adjustment is required under the terms of
this Section 4, each Holder of Shares shall have the right (the "Adjustment Right") to purchase, at a price equal to their par value, any or all of that number of Preferred Shares determined
pursuant to the formulas set out in this Section 4. For purposes of this Section 4, "Common Stock" means shares now or hereafter authorized of any class of common stock of the Company
and any other stock of the Company, however designated, that has the right (subject to any prior rights of any class or series of preferred stock) to participate in any distribution of the assets or
earnings of the Company without preference or limit as to per share amount, and "Preferred Shares", if the Company has no outstanding shares of preferred stock at the time as a result of a mandatory
conversion of all shares of preferred stock by the Company, means the Convertible Shares until such Convertible Shares cease to be Registrable Shares (as defined in the Second Amended and Restated
Registration Rights Agreement dated as of May 31, 2000 among the Company, KRG Capital Fund I, L.P., KRG Capital Fund I (FF), L.P., KRG Capital Fund I (PA), L.P., KRG Co-Investment,
L.L.C., the Purchasers and the other Holders listed on Schedule I thereto, except that clause (ii) shall be inapplicable). Any securities acquired by a Holder of Preferred Shares
pursuant to the adjustment provisions set forth below shall constitute Preferred Shares for purposes of this Agreement. 

        (a)   Adjustment for Common Stock Issue.

        If
the Company issues shares of Common Stock for a consideration per share less than the current market price per share on the date the Company fixes the offering price of such
additional shares, the number of Preferred Shares which would be held by a Holder of Preferred Shares upon exercise in full of such Holder's Adjustment Right shall be determined in accordance with the
formula: 

	N1 = N ×	A

	 	O + P
 M

where:

	N1	 	=	 	the adjusted number of Preferred Shares which would be held by such Holder upon exercise in full of such Holder's Adjustment Right.
	N	 	=	 	the then current number of Preferred Shares held by such Holder.
	0	 	=	 	the number of shares of Common Stock outstanding on a fully diluted basis immediately prior to the issuance of such additional shares.
	P	 	=	 	the aggregate consideration received for the issuance of such additional shares.
	M	 	=	 	the current market price per share of Common Stock on the date of sale of such additional shares.
	A	 	=	 	the number of shares of Common Stock outstanding on a fully diluted basis immediately prior to the issuance of such additional shares, plus the number of shares issued in connection with such issuance.

        The
adjustment shall be made successively whenever any such issuance is made, and shall become effective immediately after such issuance. 

        This
subsection (a) does not apply to: 

        (1)   the
conversion or exchange of securities convertible or exchangeable for Common Stock, 

3

 

        (2)   Common
Stock issued to shareholders of any per son which merges into the Company, or with a subsidiary of the Company, in connection with the acquisition of such person,
or 

        (3)   Common
Stock issued in a bona fide public offering pursuant to a firm commitment underwriting. 

        (b)   Adjustment for Convertible Securities Issue.

        If
the Company issues any securities convertible into or exchangeable for Common Stock for a consideration per share of Common Stock initially deliverable upon conversion or exchange of
such securities less than the current market price per share on the date of issuance of such securities, the number of Preferred Shares which would be held by a Holder of Preferred Shares upon
exercise in full of such Holder's Adjustment Right shall be determined in accordance with this formula: 

	N1 = N ×	O + D

	 	O +	 	P
	 	 	 	
 M × C

where:

	N1	 	=	 	the adjusted number of Preferred Shares which would be held by such Holder upon exercise in full of such Holder's Adjustment Right.
	N	 	=	 	the then current number of Preferred Shares held by such Holder.
	0	 	=	 	the number of shares of Common Stock outstanding on a fully diluted basis immediately prior to the issuance of such securities.
	P	 	=	 	the aggregate consideration received for the issuance of such securities.
	M	 	=	 	the current market price per share of Common Stock on the date of sale of such securities.
	D	 	=	 	the maximum number of shares of Common Stock deliverable upon conversion or in exchange for such securities at the initial conversion or exchange rate.
	C	 	=	 	the maximum number of shares of Common Stock into which one share of each such security is convertible into.

        The
adjustment shall be made successively whenever any such issuance is made, and shall become effective immediately after such issuance. 

        If
all of the Common Stock deliverable upon conversion or exchange of such securities have not been issued when such securities are no longer outstanding, then the number of Preferred
Shares shall promptly be readjusted to the number of Preferred Shares which would then be in effect had the adjustment upon the issuance of such securities been made on the basis of the actual number
of shares of Common Stock issued upon conversion or exchange of such securities. 

        This
subsection (b) does not apply to: 

        (1)   convertible
securities issued to shareholders of any person which merges into the Company, or with a subsidiary of the Company, in connection with the acquisition of
such person; provided that such securities are substantially similar to the Class A-l Convertible Preferred Stock of the Company (except as to liquidation preference), 

        (2)   convertible
securities issued in a bona fide public offering pursuant to a firm commitment underwriting, 

        (3)   convertible
securities issued as dividends on the Company's Class A-l 5% Convertible Preferred Stock or such other classes of the Company's
convertible preferred stock; provided that such other convertible preferred stock and convertible securities issued as dividends thereon shall have substantially similar terms to the
Class A-l 5% Convertible Preferred Stock 

4

 

other
than with respect to liquidation preference thereon; provided, further, that this clause (3) shall not apply to such dividends paid in excess of 5% per annum, 

        (4)   the
issuance of convertible securities substantially similar to the Company's Class B-l Convertible Preferred Stock; provided that no such securities
are issued to a person who was a shareholder or an affiliate of the Company prior to such issuance, or 

        (5)   options
granted to the Company' employees under bona fide employee benefit plans adopted by the Board of Directors and approved by the holders of Common Stock when
required by law (but only to the extent that the aggregate number of options excluded hereby and granted on or after Issue Date shall not exceed 10% of the Common Stock out standing on a fully diluted
basis on the Issue Date, exclusive of antidilution adjustments thereunder). 

        (c)   Current Market Price.

        In
subsections (a) and (b) of this Section 4, the current market price per share of Common Stock on any date is the average of the Quoted Prices of the Common Stock
for 30 consecutive trading days commencing 45 trading days before the date in question. The "Quoted Price" of the Common Stock is the last reported sales price of the Common Stock as reported by
NASDAQ, National Market System, or if the Common Stock is listed on a securities exchange, the last reported sales price of the Common Stock on such exchange which shall be- for
consolidated trading if applicable to such exchange, or if neither so reported or listed, the last reported bid price of the Common Stock. In the absence of one or more such quotations, the Board of
Directors of the Company shall determine the current market price (i) based on the most recently completed arm's-length transaction between the Company and a person other than an Affiliate of
the Company and the closing of which occurs on such date or shall have occurred within the six months preceding such date, (ii) if no such transaction shall have occurred on such date or within
such six-month period, the value of the security most recently determined as of a date within the six months preceding such date by a nationally recognized investment banking firm or
appraisal firm which is not an Affiliate of the Company (an "Independent Financial Advisor") or (iii) if neither clause (i) nor (ii) is applicable, the value of the security
determined as of such date by an Independent Financial Advisor. 

        (d)   Consideration Received.

        For
purposes of any computation respecting consideration received pursuant to subsections (a) and (b) of this Section 4, the following shall apply: 

        (1)   in
the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any deduction be made
for any commissions, discounts or other expenses incurred by the Company for any underwriting of the issue or otherwise in connection therewith; 

        (2)   in
the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be deemed to be
the fair market value thereof as determined in good faith by the Board of Directors (irrespective of the ac counting treatment thereof), whose determination shall be described in a Board resolution; 

        (3)   in
the case of the issuance of securities convertible into or exchangeable for shares, the aggregate consideration received therefor shall be deemed to be the
consideration received by the Company for the issuance of such securities plus the additional minimum consideration, if any, to be received by the Company upon the conversion or exchange thereof (the
consideration in each case to be determined in the same manner as provided in clauses (1) and (2) of this subsection). 

5

 

        (e)   When De Minimis Adjustment May Be Deferred.

        No
adjustment in the number of Preferred Shares need be made unless the adjustment would require an increase or decrease of at least 1% in the number of Preferred Shares held by each
Holder. Any adjustments that are not made shall be carried forward and taken into account in any subsequent adjustment. 

        All
calculations under this Section shall be made to the nearest 1/100th of a share. 

        (f)    When No Adjustment Required.

        No
adjustment need be made for a change in the par value or no par value of the Common Stock. 

        (g)   Notice of Adjustment.

        Whenever
the number of Preferred Shares may be adjusted, the Company shall provide notice to the Holder as set forth in Section 6 hereof. 

        (h)   No Dilution or Impairment.

        If
any event shall occur as to which the provisions of this Section 4 are not strictly applicable but the failure to make any adjustment would adversely affect the Adjustment
Rights represented by the Preferred Shares in accordance with the essential intent and principles of this Section, then, in each such case, the Company shall appoint an investment banking firm of
recognized national standing, or any other financial expert that does not (or whose directors, officers, employees, affiliates or
stockholders do not) have a direct or material indirect financial interest in the Company or any of its subsidiaries, who has not been, and, at the time it is called upon to give independent financial
advice to the Company, is not (and none of its directors, officers, employees, affiliates or stockholders are) a promoter, director or officer of the Company or any of its subsidiaries, which shall
give their opinion upon the adjustment, if any, on a basis consistent with the essential intent and principles established in this Section 4, necessary to preserve, without dilution, the
purchase rights represented by the Preferred Shares. Upon receipt of such opinion, the Company will promptly mail a copy thereof to the holders of the Preferred Shares and shall make the adjustments
described therein. 

        The
Company will not, by amendment of its certificate of incorporation or through any consolidation, merger, reorganization, transfer of assets, dissolution, issue or sale of securities
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms of the Preferred Shares, but will at all times in good faith assist in the carrying out of all
such terms and in the taking of all such action as may be necessary or appropriate in order to protect the rights of the holder of the Preferred Shares against dilution or other impairment. Without
limiting the generality of the foregoing, the Company (1) will take all such action as may be necessary or appropriate in order that the Company may validly and legally issue fully paid and
nonassessable shares of Common Stock on the exercise of the Preferred Shares from time to time outstanding and (2) will not take any action which results in any adjustment of the number of
Preferred Shares if the total number of Preferred Shares, or Convertible Shares issuable after the action upon the exercise of all of the Preferred Shares, would exceed the total number of Preferred
Shares or shares of Common Stock, as the case may be, then authorized by the Company's certificate of incorporation and available for the purposes of issue. 

        (i)    Reorganization of Company.

        If
the Company consolidates or merges with or into, or transfers or leases all or substantially all its assets to, any person, upon consummation of such transaction the Adjustment Right
shall automatically become exercisable for the kind and amount of securities, cash or other assets which the Holder of Preferred Shares would have owned immediately after the consolidation, merger,
transfer or lease if the Holder had exercised the Adjustment Right immediately before the effective date of the transaction. Concurrently with the consummation of such transaction, the corporation
formed by or surviving any 

6

 

such
consolidation or merger if other than the Company, or the person to which such sale or conveyance shall have been made, shall enter into a supplemental Agreement so providing and further
providing for adjustments which shall be as nearly equivalent as may be practical to the adjustments provided for in this Agreement. The successor company shall mail to Holders of Preferred Shares a
notice describing the supplemental Agreement. 

        If
the issuer of securities deliverable upon exercise of Adjustment Rights under the supplemental Agreement is an affiliate of the formed, surviving, transferee or lessee corporation,
that issuer shall join in the supplemental Agreement. 

        If
this subsection (i) applies, subsections (a) and (b) of this Section 4 do not apply. 

        (j)    Exercise of Adjustment Right.

        In
the event that a Holder of Preferred Shares is granted an Adjustment Right pursuant to this Section 4, such Holder shall have 30 days from the later of the date of any
action requiring an adjustment and the date notice of such action is provided pursuant to Section 6 hereof to exercise such Adjustment Right. Any Adjustment Right may be exercised by delivery
of a notice to the Company a certified check payable to the order of the Company in an amount equal to the aggregate par value of the additional Preferred Shares to be issued to such Holder pursuant
to its exercise of the Adjustment Right. Upon delivery of such Notice, such payment, the Company shall promptly cause the additional Preferred Shares to be issued and delivered to such Holder or to
another person or address specified in writing by such Holder. 

        SECTION
5.    Fractional Interests.    Any Adjustment Rights may be exercised in full or in part;  provided that the Company
shall not be required to issue fractional Preferred Shares on the exercise of Adjustment Rights. If more than one Adjustment
Right shall be exercised at the same time by the same Holder, the number of full Preferred Shares which shall be issuable upon the exercise thereof shall be computed on the basis of the aggregate
number of Preferred Shares purchasable on exercise of the Adjustment Rights so requested to be exercised. If any fraction of a Preferred Share would, except for the provisions of this
Section 5, be issuable on the exercise of any Adjustment Rights (or specified portion thereof), the Company shall pay an amount in cash equal to the product of (i) such fraction of an
Adjustment Right Preferred Share and (ii) the current market price of a share of Preferred Stock. 

        SECTION
6.    Adjustment Right Notices to Holders.    Upon any event which may require adjustment of the number of
Preferred Shares pursuant to Section 4, the Company shall promptly thereafter (i) cause to be filed with the Company a certificate which includes the report of a firm of independent
public accountants of recognized standing selected by the Board of Directors of the Company (who may be the regular auditors of the Company) setting forth the number of Preferred Shares issuable upon
exercise of the Adjustment Right in respect of each Preferred Share and setting forth in reasonable detail the method of calculation and the facts upon which such calculations are based, which
certificate shall be conclusive evidence of the correctness of the matters set forth therein, and (ii) cause to be given to each of the registered Holders of the Preferred Shares at his or her
address appearing on the share register written notice of such adjustments by first-class mail, postage prepaid. Where appropriate, such notice may be given in advance and included as a part of the
notice required to be mailed under the other provisions of this Section 7. 

        SECTION
7.    Notices to Company and Holders.    Any notice or demand authorized by this Agreement to be given or made
by the registered holder of any Preferred Share to or on the Company shall be sufficiently given or made when and if deposited in the mail, first class or registered, postage prepaid, addressed to the
office of the Company expressly designated by the Company at its office for 

7

 

purposes
of this Agreement (until the Holders are otherwise notified in accordance with this Section by the Company), as follows: 

MDMI
Holdings, Inc.

200 West 7th Avenue

Collegeville, Pennsylvania 19426

Facsimile: (610) 409-2470

Attention: Chief Financial Officer 

        Any
notice pursuant to this Agreement to be given by the Company to the registered holder(s) of any Preferred Share shall be sufficiently given when and if deposited in the mail, first
class or registered, postage prepaid, addressed (until the Company is otherwise notified in accordance with this Section by such holder) to such holder at the address appearing on the Preferred Share
register of the Company. 

        SECTION
8.    Supplements and Amendments.    The Company may from time to time supplement or amend this Agreement with
the written consent of Holders of a majority of the then outstanding Preferred Shares and Convertible Shares. 

        SECTION
9.    Successors.    All the covenants and provisions of this Agreement by or for the benefit of the Company
and the Holders shall bind and inure to the benefit of their respective successors and assigns hereunder. 

        SECTION
10.    Termination.    This Agreement shall terminate at 5:00 p.m., New York City time on
June 1, 2010. 

        SECTION
11.    Governing Law.    THIS AGREEMENT SHALL BE DEEMED TO BE A CONTRACT MADE UNDER THE LAWS OF THE STATE OF
NEW YORK AND FOR ALL PURPOSES SHALL BE CONSTRUED IN ACCORDANCE WITH THE INTERNAL LAWS OF SAID STATE. 

        SECTION
12.    Benefits of This Agreement.    Nothing in this Agreement shall be construed to give to any person or
corporation other than the Company and the registered holders of the Preferred Shares any
legal or equitable right, remedy or claim under this Agreement; but this Agreement shall be for the sole and exclusive benefit of the Company and the registered holders of the Preferred Shares and the
Preferred Shares. Nothing herein shall prohibit or limit the Company from entering into an agreement providing holders of securities which may hereafter be issued by the Company with such registration
rights exercisable at such time or times and in such manner as the Board of Directors shall deem in the best interests of the Company so long as the performance by the Company of its obligations under
such other agreement will not cause the Company to breach its obligations hereunder to the Holders. 

        SECTION
13.    Counterparts.    This Agreement may be executed in any number of counterparts and each of such
counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument. 

8

 

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

	 	 	MDMI HOLDINGS, INC.
	

 	
 	

By:	
 	

/s/  BRUCE L. ROGERS      

	 	 	 	 	Name:	Bruce L. Rogers
	 	 	 	 	Title:	Vice President
	

 	
 	

DLJ INVESTMENT PARTNERS II, L.P.
	

 	
 	

By:	
 	

DLJ INVESTMENT PARTNERS II, INC., as managing general partner
	

 	
 	

By:	
 	

/s/  IVY DODES      

	 	 	 	 	Name:	Ivy Dodes
	 	 	 	 	Title:	Vice President
	

 	
 	

DLJ INVESTMENT FUNDING II, INC.
	

 	
 	

By:	
 	

/s/  IVY DODES      

	 	 	 	 	Name:	Ivy Dodes
	 	 	 	 	Title:	Vice President
	

 	
 	

DLJ ESC II L.P.
	

 	
 	

By:	
 	

DLJ LBO PLANS MANAGEMENT CORPORATION, as general partner
	

 	
 	

By:	
 	

/s/  IVY DODES      

	 	 	 	 	Name:	Ivy Dodes
	 	 	 	 	Title:	Vice President
	

 	
 	

DLJ INVESTMENT PARTNERS, L.P.
	

 	
 	

By:	
 	

DLJ INVESTMENT PARTNERS, INC., as managing general partner
	

 	
 	

By:	
 	

/s/  IVY DODES      

	 	 	 	 	Name:	Ivy Dodes
	 	 	 	 	Title:	Vice President
	 	 	 	 	 	 

9

 

	

 	
 	

RELIASTAR FINANCIAL CORP.
	

 	
 	

By:	
 	

/s/  MARK S. JORDAHL      

	 	 	 	 	Name:	MARK S. JORDAHL
	 	 	 	 	Title:	SENIOR VICE PRESIDENT

10

QuickLinks

ANTI-DILUTION AGREEMENT AMONG MDMI HOLDINGS, INC. and the parties named herein Dated as of May 31, 2000

TABLE OF CONTENTS(1)QuickLinks
 -- Click here to rapidly navigate through this document

Exhibit 4.9  

 
 

THIRD AMENDED & RESTATED
  REGISTRATION RIGHTS AGREEMENT    
    

        This THIRD AMENDED & RESTATED REGISTRATION RIGHTS AGREEMENT dated as of June 30, 2004 (this "Agreement") is made by and among UTI Corporation, a
Maryland corporation, successor to MDMI Holdings, Inc., a Colorado corporation formerly known as Medical Device Manufacturing, Inc. (the "Company"), KRG/CMS L.P. (as
successor-in-interest to KRG Capital Fund I, L.P., KRG Capital Fund I (FF), L.P., KRG Capital Fund I (PA), L.P., KRG Capital Fund I (GER), L.P., KRG Co-Investment,
L.L.C., CMS Diversified Partners, CMS Co-Investment Subpartnership and CMS PEP XIV Co-Investment Subpartnership), DLJ Merchant Banking Partners III, L.P., DLJ Offshore Partners
III-1, C.V., DLJ Offshore Partners III-2, C.V., DLJ Offshore Partners III, C.V., DLJ MB Partners III GmbH & Co. KG, Millennium Partners II, L.P. and MBP III Plan
Investors, L.P. (together, "DLJMBP"), and the other Holders listed on Schedule I hereto, as such schedule may be amended from time to time. This
Agreement shall amend, supersede and replace that certain Registration Rights Agreement dated July 6, 1999 and subsequently amended and restated January 11, 2000 and May 31, 2000
(this last being referred to herein as the "Existing Registration Rights Agreement"). 

        WHEREAS,
in connection with the investment by DLJMBP in 7,568,980 shares of the Company's Class A-8 Convertible Preferred Stock (the "Class A-8
Shares") and warrants to purchase additional shares of such class of preferred stock (the shares of Class A-8 Stock issuable upon exercise of the Class A-8
Warrants, the "Class A-8 Warrant Shares"), the parties to the Existing Registration Rights Agreement desire to (1) amend the Existing Registration Rights Agreement to admit
DLJMBP as a party, to provide DJLMBP with certain registration rights with respect to its investment and to make certain other modifications (collectively, the "DLJMBP Amendments") and (2) to
restate the Existing Registration Rights Agreement incorporating the DLJMBP Amendments solely for purposes of clarity; 

        WHEREAS,
pursuant to Section 9(e) of the Existing Registration Rights Agreement, Holders of a majority of the Registrable Shares have consented to the DLJMBP Amendments in
writing (a copy of which written consent is attached hereto); 

        NOW,
THEREFORE, in consideration of the premises and the mutual promises set forth in this Agreement, the parties agree as follows: 

AGREEMENT  

        Section 1. Definitions. As used in this Agreement: 

        (a)   Common Stock. The term "Common Stock" shall mean the voting common stock, par value $.01 per share, of the Company. 

        (b)   DLJ Holders. The term "DLJ Holders" shall mean collectively DLJ Investment Partners II, L.P., DLJ Investment Funding
II, Inc., DLJ ESC II L.P. and DLJ Investment Partners, L.P. and their permitted successors and transferees that are holders of the Company's Class AA Convertible Preferred Stock (the
"DLJ Preferred") issued in conjunction with the Company's senior subordinated notes and the senior notes of Medical Device Manufacturing, Inc., a Colorado corporation and a wholly owned
subsidiary of the Company. 

        (c)   DLJMBP Holders. The term "DLJMBP Holders" shall mean DLJMBP and its permitted successors and transferees that are holders
of the Class A-8 Shares or the Class A-8 Warrant Shares issued to DLJMBP as of the date hereof (the "DLJMBP Preferred"). 

        (d)   Exchange Act. The term "Exchange Act" shall mean the Securities Exchange Act of 1934, as amended, and the rules and
regulations promulgated thereunder. 

        (e)   Holder. The term "Holder" or "Holders" means any person or entity that is a party to this Agreement and to which or whom
Registrable Shares, or rights to issuance of Registrable 

 

Shares
have been issued, assigned or transferred, in accordance with the Shareholders' Agreement and this Agreement. 

        (f)    Initial Public Offering. The term "Initial Public Offering" shall mean a firm commitment underwritten initial public
offering of Common Stock of the Company that is effected pursuant to a registration statement filed and declared effective by the SEC under the Securities Act. 

        (g)   Prospectus. The term "Prospectus" shall mean the prospectus included in any Registration Statement (including, without
limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A promulgated under the
Securities Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Shares covered by such Registration Statement and
all other amendments and supplements to the Prospectus, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 

        (h)   Register. The term "register," "registered" and "registration" refer to a registration effected by preparing and filing a
Registration Statement or similar document in compliance with the Securities Act and the declaration or ordering of effectiveness of such Registration Statement or document; 

        (i)    Registrable Shares. The term "Registrable Shares" shall mean the shares of Common Stock held by the Holders, whether
owned on the date hereof or acquired hereafter, including any rights, options or warrants to purchase Common Stock and securities of any type whatsoever that are, or may become, convertible into
Common Stock and any capital stock for which such Common Stock is exchanged or into which it is converted until such time as such shares (i) are effectively registered under the Securities Act
and disposed of in accordance with the Registration Statement covering such shares, (ii) at any time after the third anniversary of a Initial Public Offering are salable pursuant to
Rule 144(k) by the holder thereof, provided that such holder owns, in the aggregate, less than one percent of the outstanding Common Stock on an as converted and fully diluted basis or
(iii) are distributed for resale pursuant to Rule 144. 

        (j)    Registration Statement. The term "Registration Statement" shall mean any registration statement of the Company filed with
the SEC for the purpose of facilitating the public offering and sale of equity securities of the Company, including the Prospectus, amendments and supplements to such Registration Statement (including
post-effective amendments), all exhibits and all material incorporated by reference in such Registration Statement. 

        (k)   SEC. The term "SEC" shall mean the Securities and Exchange Commission or any successor thereof. 

        (l)    Securities Act. The term "Securities Act" shall mean the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder. 

        (m)  Shareholders' Agreement. The term "Shareholders' Agreement" shall mean the Amended and Restated Shareholders' Agreement
dated as of the date hereof among the Company and the parties listed on Schedule I thereto, as amended from time to time. 

        (n)   Underwritten. The term "underwritten registration" or "underwritten offering" shall pertain to a registration or an
offering in which securities of the Company are sold to an underwriter for reoffering to the public. 

        Section 2.  Registration Rights. 

        (a)   At
any time subsequent to the earlier to occur of (i) May 31, 2008 or (ii) the six-month anniversary of the Initial Public Offering,
either (1) Holders (other than the DLJMBP Holders) 

2

 

who,
in the aggregate, own 20% of the total number of Registrable Shares or (2) the DLJMBP Holders may request that the Company prepare and file a Registration Statement on
Form S-1 or any similar long-form registration ("Long-Form Registration") to permit the public offering and sale of the Registrable Shares. Either (1) Holders
(other than the DLJMBP Holders) who, in the aggregate, own 20% of the total number of Registrable Shares or (2) the DLJMBP Holders may also request that the Company prepare and file a
Registration Statement on Form S-2 or S-3, if available, to permit the public offering and sale of Registrable Shares (each, a
"Short-Form Registration" and, together with Long-Form Registrations, each a "Registration"). The Holders (other than the DLJMBP Holders) may request a maximum of
two Registrations. The DLJMBP Holders may request a maximum of four Registrations, no more than two of which may be Superior Demands (as defined in Section 2(d) below). A request for a
registration shall specify the approximate number of Registrable Shares requested to be registered and the anticipated per share price range for such offering. Within ten days after receipt of
any such request, the Company will give written notice of such requested registration to all other Holders and will include in such registration all Registrable Securities with respect to which the
Company has received written requests for inclusion therein within 15 days after the receipt of the Company's notice. 

        (b)   In
addition to the rights of the Holders set forth in Section 2(a), at any time subsequent to the earlier to occur of (i) May 31, 2008 or
(ii) the six-month anniversary of the Initial Public Offering, the DLJ Holders who, in the aggregate, own 50% of the total number of DLJ Preferred (the "DLJ Demand Investors") may
request that the Company prepare and file a Registration to permit the public offering and sale of the Registrable Shares. The DLJ Holders, as a class, may request a maximum of one
Registration. A request for a registration by the DLJ Holders shall specify the approximate number of Registrable Shares requested to be registered and the anticipated per share price range for such
offering. Within ten days after receipt of any such request, the Company will give written notice of such requested registration to all other Holders and will include in such registration all
Registrable Securities with respect to which the Company has received written requests for inclusion
therein within 15 days after the receipt of the Company's notice. Nothing set forth in this Section 2(b) shall be interpreted as limiting the rights of the DLJ Holders as Holders
generally. 

        (c)   Any
such registration of Registrable Shares requested pursuant to this Section 2 shall be referred to as a "Demand Registration." No Demand Registration shall be
deemed to have been effected if (i) such Registration Statement, after it has become effective, is the subject of any stop order, injunction or other order or requirement of the SEC or other
governmental agency or court for any reason not primarily attributable to the selling Holders, (ii) the conditions to closing specified in the purchase agreement or underwriting agreement
entered into in connection with such Registration Statement are not satisfied, other than by reason of a failure on the part of the selling Holders; or (iii) the Holders (or, in the event of a
Demand Registration pursuant to Section 2(a), the Holders other than the DLJ Holders) are not able to register and sell at least fifty percent (50%) of the Registrable Shares requested to be
included in such registration. 

        (d)   Whenever
the Company shall effect a registration pursuant to this Section 2 (except for a case in which the DLJMBP Holders request a Superior Demand or a Demand
Registration requested by the DLJ Holders) in connection with a public offering of Registrable Shares, then any reduction of securities to be included in such offering shall be made based on the
following criteria: (i) first, to the extent necessary, securities other than the Registrable Shares shall be reduced pro rata on the basis of the number of shares to be registered by all
shareholders (other than Holders) participating in such offering, and (ii) second, to the extent necessary, the Registrable Shares shall be reduced pro rata on the basis of the number of
Registrable Shares to be registered by all such Holders participating in such offering, in each case to the extent 

3

 

determined
necessary by the managing underwriter of such offering if such managing underwriter shall have advised the selling Holders in writing (with a copy to the Company) that, in their opinion,
the number of securities requested to be included in such registration exceeds the number which can be sold within a price range acceptable to the selling Holders of a majority of the Registrable
Shares requested to be included in such registration. If no such notice or letter of reduction is provided by such managing underwriter, the Company may include Common Stock for its own account or for
the account of other shareholders of the Company, if and to the extent consented to by the Holders of at least a majority of the Registrable Shares included in such offering. 

        Notwithstanding
the foregoing, if the DLJMBP Buyers request a "Superior Demand" (provided that the DLJMBP Buyers shall have no right to request a Superior Demand until after the
completion of the first public offering of Registrable Shares following the completion of the Initial Public Offering), then any reduction of securities to be included in such offering (to the extent
such reduction is determined necessary by the managing underwriter of such offering if such managing underwriter shall have advised the selling Holders in writing (with a copy to the Company) that, in
their opinion, the number of securities requested to be included in such registration exceeds the number which can be sold within a price range acceptable to the selling Holders of a majority of the
Registrable Shares requested to be included in such registration) shall be made based on the following criteria: (i) first, to the extent necessary, securities other than the Registrable Shares
shall be reduced pro rata on the basis of the number of shares to be registered by all shareholders (other than Holders) participating in such
offering, and (ii) second, to the extent necessary, the Registrable Shares offered by Holders shall be reduced in a manner such that (1) the DLJMBP Buyers are able to offer a number of
shares equal to their Superior Percentage multiplied by the total number of shares to be offered after such reduction and (2) the other Holders share pro rata, on the basis of the number of
shares requested to be registered by such other Holders, in the remaining number of shares to be offered. The DLJMBP Buyers' "Superior Percentage" shall be equal to the percentage of the number of
shares originally offered by the DLJMBP Buyers as compared to the total number of shares originally offered by all of the Holders (including the DLJMBP Buyers) multiplied by two. 

        Notwithstanding
any of the foregoing in this Section 2(d), in the event the managing underwriter of an offering in connection with either (i) the first Demand Registration
effected under this Section 2 or (ii) a Demand Registration initiated by the DLJ Demand Investors in accordance with Section 2(b) advises the selling Holders in writing that a
reduction in the number of securities requested to be included in such registration is necessary, then any reduction of securities to be included in such offering shall be made based on the following
criteria: (x) first, to the extent necessary, securities other than the Registrable Shares shall be reduced pro rata with all other holders (other than the Holders) participating in such
offering on the basis of the number of shares to be registered by all shareholders participating in such offering; (y) second, to the extent necessary, Registrable Shares other than Registrable
Shares underlying or otherwise resulting from the conversion of the DLJ Preferred shall be reduced pro rata with all other Holders participating in such offering other than the DLJ Holders on the
basis of the number of shares to be registered by all such Holders of Registrable Shares other than the DLJ Preferred or any Registrable Shares underlying or otherwise resulting from the conversion
thereof participating in such offering; and (z) third, to the extent necessary, Registrable Shares underlying or otherwise resulting from the conversion of the DLJ Preferred shall be reduced
pro rata with all other DLJ Holders participating in such offering on the basis of the number of shares to be registered by all such DLJ Holders of Registrable Shares participating in such offering. 

        (e)   In
connection with an Initial Public Offering, the Company (i) shall agree not to, and shall cause its executive officers and directors not to, effect any public
sale or distribution of the Common Stock held by the Company or similar securities or securities convertible into, or exchangeable or exercisable for, Common Stock during the 180-day
period following the effective 

4

 

date
of the Registration Statement relating to the Initial Public Offering if the managing underwriter or underwriters determine such public sale or distribution would have a material adverse effect
on such offering and (ii) shall use its reasonable best efforts to (x) cause each security holder of the Company's privately placed equity securities issued in connection with a
financing transaction involving at least 5% of the Company's then outstanding equity securities at any time after the date hereof and (y) cause each other security holder of the Company owning
at least 10% of the Company's then outstanding equity securities (other than a security holder permitted to file a Schedule 13G under the Exchange Act) to agree, not to effect a public
sale or distribution of the Common Stock during the 180-day period following the effective date of the Registration Statement relating to the Initial Public Offering if the managing
underwriter or underwriters determine such public sale or distribution would have a material adverse effect on such offering. 

        Section 3.
Piggyback Registration. 

        (a)   Participation. Subject to Section 3(b) below, if at any time from and after the date hereof, the Company
proposes to file or files a Registration Statement under the Securities Act with respect to any offering of securities of the same type as the Registrable Shares for its own account (other than a
Registration Statement in connection with an initial public offering of the Company or a Registration Statement on Form S-8 or Form S-4 or any successor form
thereto), or for the account of any security holder of securities of the same type as the Registrable Shares, then, as promptly as practicable, the Company shall give written notice of such proposed
filing to each Holder and such notice shall offer the Holders the opportunity to include in such registration such number of Registrable Shares as each such Holder may request (a "Piggyback
Registration"). The Company shall include in such Registration Statement all Registrable Shares requested within 20 days after the receipt of any such notice (which request shall specify the
Registrable Shares intended to be disposed of by such Holder) to be included in the registration for such offering pursuant to a Piggyback Registration. Each Holder electing to participate in such
Piggyback Registration shall do so pursuant to the terms of such proposed registration and shall execute such usual and customary custody agreements, powers of attorney, underwriting agreements or
other documents as are reasonably requested or required by the Company and any underwriter of such offering; provided, however, that such Holders shall not be required to represent and warrant to, or
to indemnify, any party with respect to any matters other than as to the Holder's ownership of the Registrable Shares and with respect to any other information provided by Holder and required to be
included in the Registration Statement pursuant to SEC rules and regulations. Each Holder of Registrable Shares shall be permitted to withdraw all or part of such Holder's Registrable Shares from a
Piggyback Registration at any time prior to the effective date thereof. 

        (b)   Underwriter's Cutback. The Company shall use its best efforts to cause the managing underwriter or underwriters of a
proposed public offering to permit the Registrable Shares requested to be included in the registration for such offering under Section 3(a) (collectively, the "Piggyback Securities") to
be included on the same terms and conditions as any similar securities included therein. Notwithstanding the foregoing, if the managing underwriter or underwriters participating in such offering
advises each of the Holders in writing (with a copy to the Company) that the total amount of securities requested to be included in such Piggyback Registration exceeds the amount which can be sold in
(or during the time of) such offering without delaying or jeopardizing the success of the offering (including the price per share of the securities to be sold), then, (i) in the case of a
Company-initiated registration for which participation is sought by the Holders pursuant to Section 3(a), after including all shares proposed to be sold by the Company, the amount of securities
to be offered for the account of the Holders shall be reduced pro rata with all other holders participating in such offering on the basis of the number of shares to be registered by all stockholders
participating in such offering, or (ii) in the case of a Demand 

5

 

Registration
pursuant to Section 2, the reductions shall be governed by the provisions of Section 2(d). 

        Section 4.
Registration Procedure. Whenever required under this Agreement to effect the registration of any Registrable Shares, the
Company shall, as expeditiously as is reasonably possible: 

        (a)   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 required by the rules, regulations or instructions applicable to the registration form utilized by the Company or by the Securities Act or rules and regulations otherwise necessary to keep the
Registration Statement effective for a period of not less than 180 days (or such shorter period which will terminate when all Registrable Shares covered by such Registration Statement have been
sold or withdrawn); and cause the Prospectus as so supplemented to be filed pursuant to Rule 424 under the Securities Act; and comply with the provisions of the Securities Act and the Exchange
Act of 1934 with respect to the disposition of all securities covered by such Registration Statement during the applicable period in accordance with the intended methods of disposition by the selling
Holders thereof set forth in such Registration Statement or supplement to the Prospectus. 

        (b)   Furnish
to the Holders covered by such Registration Statement 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 the Registrable Shares owned by them. 

        (c)   Use
its best efforts to register and qualify the securities covered by such Registration Statement under such jurisdictions as shall be reasonably requested by the
Holders, provided that the Company has no obligation to qualify Registrable Shares where such qualification would cause any unreasonable delay or expenditure by the Company, but the Company may be
required to file a consent to service substantially in the form of the Uniform Consent to Service of Process Form U-2. 

        (d)   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 of such offering. 

        (e)   Notify
each Holder of Registrable Shares covered by such Registration Statement, (i) at any time when a Prospectus relating thereto covered by such Registration
Statement 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; (ii) of the issuance by the SEC of any stop order suspending the effectiveness of the Registration Statement or the initiation of any proceedings for that purpose; and (iii) of
the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Shares for sale in any jurisdiction or the initiation or threatening of any
proceeding for such purpose. 

        (f)    Furnish
to each Holder of Registrable Shares on the date that such Registrable Shares are delivered to the underwriters for sale in connection with a registration
pursuant to this Agreement, if such securities are being sold through underwriters, or, if such securities are not being sold through underwriters, on the date that the Registration Statement with
respect to such securities becomes effective (i) an opinion, dated 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, if any, and to the 

6

 

Holders
requesting registration of Registrable Shares and (ii) a letter dated 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, if any, and to the Holders requesting registration of
Registrable Shares. 

        (g)   Make
every reasonable effort to obtain the withdrawal of any order suspending the effectiveness of any Registration Statement covering Registrable Shares. 

        (h)   Cooperate
with the selling Holders of Registrable Shares and the managing underwriters, if any, to facilitate the timely preparation and delivery of certificates
representing Registrable Shares to be sold and not bearing any restrictive legends; and enable such Registrable Shares to be in such denominations and registered in such names as the managing
underwriters may request at least two business days prior to any sale of Registrable Shares to the underwriters. 

        (i)    Use
its best efforts to cause the Registrable Shares covered by the applicable Registration Statement to be registered with or approved by such other foreign
governmental agencies or authorities, and the NASD or any other applicable exchange or regulatory authority, as may be necessary to enable the seller or selling Holders thereof or the underwriters, if
any, to consummate the disposition of such Registrable Shares. 

        (j)    Cause
all Registrable Shares covered by the Registration Statement to be listed on each securities exchange on which similar securities issued by the Company are then
listed. 

        (k)   Cooperate
and assist in any filings required to be made with the NASD in the performance of any due diligence investigation by any underwriter (including any "qualified
independent underwriter" that is required to be retained in accordance with the rules and regulations of the NASD). 

        (l)    Make
available for inspection by any seller of Registrable Shares, any underwriter participating in any disposition pursuant to such Registration Statement, and any
attorney, accountant or other agent retained by any such seller or underwriter, all financial and other records, pertinent corporate
documents and properties of the Company, and cause the Company's officers, directors, employees and independent accountants to supply all information reasonably requested by any such seller,
underwriter, attorney, accountant or agent in connection with such Registration Statement. 

        (m)  Permit
any holder of Registrable Shares, which holder, in the Company's reasonable judgment, might be deemed to be an underwriter or a controlling Person of the Company,
to participate in the preparation of such registration or comparable statement and to require the insertion therein of material furnished to the Company in writing, which in the reasonable judgment of
such holder and its counsel should be included. 

        Section 5.  Furnish Information. The selling Holders shall promptly furnish to the Company in writing such reasonable information
regarding themselves, the Registrable Shares held by them, and the intended method of disposition of such securities as shall be required to effect the registration of their Registrable Shares. 

        Section 6.
Underwriting Requirements. The Company shall select the investment bankers and managing underwriters in any
registration, to administer any offering pursuant to which the Company files a Registration Statement in which any Holder is entitled to participate pursuant to this Agreement. In connection with any
underwritten offering of shares of Common Stock being issued by the Company, the Company shall not be required to include any Registrable Shares in such underwritten offering unless the Holders
thereof accept the terms of the underwriting as agreed upon between the Company and the underwriters selected by the Company. No Holder may participate in 

7

 

any
underwritten registration pursuant to this Agreement unless such Holder agrees to the inclusion of the Registrable Shares of such Holder on the basis provided in any underwriting arrangements
approved by the Company, and completes and executes all questionnaires, powers of attorney, indemnities, underwriting agreements and other documents reasonably required by the terms of such
underwriting arrangements. 

        Section 7.
Registration Expenses. 

        (a)   All
expenses incident to the Company's performance of or compliance with this Agreement, including without limitation all registration and filing fees, fees and expenses
of compliance with securities or blue sky laws, printing expenses, messenger and delivery expenses, the expense of any annual audit or quarterly review, the expense of any liability insurance and the
expenses and fees for listing the securities to be registered on each securities exchange on which similar securities issued by the Company are then listed or on, the NASD automated quotation system,
fees and disbursements of custodians, and fees and disbursements of counsel for the Company and all independent certified public accountants, underwriters (excluding discounts and commissions) and
other persons and/or
entities retained by the Company (all such expenses being herein called "Registration Expenses"), shall be borne by the Company, 

        (b)   In
connection with each Demand Registration and each Piggyback Registration, the Company shall reimburse the holders of Registrable Shares included in such registration
for the reasonable fees and disbursements of one counsel chosen by the Holders of a majority of the Registrable Shares included in such registration. 

        Section 8.
Indemnification. 

        (a)   The
Company shall, without limitation as to time, indemnify and hold harmless, to the fullest extent permitted by law, each Holder whose Registrable Shares are
registered pursuant to this Agreement, the officers, directors, agents and employees of each of them, each Person who controls such Holder (within the meaning of Section 15 of the Securities
Act or Section 20 of the Exchange Act) and the officers, directors, agents and employees of any such controlling person, from and against all losses, claims, damages, liabilities, costs
(including, without limitation, the costs of preparation and reasonable attorneys' fees) and expenses (collectively, "Losses") to be reimbursed promptly, as incurred, arising out of or based upon any
untrue or alleged untrue statement of a material fact contained in any Registration Statement, Prospectus or form of Prospectus or in any amendment or supplement thereto or in any preliminary
prospectus, or arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein not misleading,
except insofar as the same are based solely upon information furnished in writing to the Company by such Holder expressly for use therein; provided, however, that the Company shall not be liable to
any Holder to the extent that (A) any such Losses arise out of or are based upon an untrue statement or alleged untrue statement or omission or alleged omission made in any preliminary
prospectus if (i) such Holder failed to send or deliver a copy of the Prospectus with or prior to the delivery of written confirmation of the sale by such Holder to the Person asserting the
claim from which such losses arise and (ii) the Prospectus would have corrected in all material respects such untrue statement or alleged untrue statement or such omission or alleged omission;
or (B) any such Losses arise out of or are based upon an untrue statement or alleged untrue statement or omission or alleged omission in the Prospectus, if (x) such untrue statement or
alleged untrue statement, omission or alleged omission is corrected in all material respects in an amendment or supplement to the Prospectus and (y) having previously been furnished by or on
behalf of the Company with copies of the Prospectus as so amended or supplemented, such Holder thereafter fails to deliver such Prospectus as so amended and supplemented, prior to or concurrently with
the sale of a Registrable Share to the Person asserting the claim from which such Losses arise. 

8

 

        (b)   In
connection with any Registration Statement in which a Holder is participating, such Holder shall furnish to the Company in writing such information relating to such
Holder, as such, or the Registrable Shares being sold by such Holder (the "Holder Information") as the Company reasonably requests for use in connection with any Registration Statement or Prospectus
and agrees to indemnify, to the fullest
extent permitted by law, the Company, its directors, officers, agents and employees, each Person who controls the Company (within the meaning of Section 15 of the Securities Act and
Section 20 of the Exchange Act), and the directors, officers, agents or employees of such controlling persons, from and against all Losses arising out of or based upon any untrue statement of a
material fact contained in any Registration Statement, Prospectus or preliminary prospectus or arising out of or based upon any omission of a material fact required to be stated therein or necessary
to make the statements therein not misleading, to the extent, but only to the extent, that such untrue statement or omission is contained in any Holder Information so furnished in writing by such
Holder to the Company expressly for use in such Registration Statement or Prospectus and that such Holder Information was solely relied upon by the Company in preparation of such Registration
Statement, Prospectus or preliminary prospectus. In no event shall the liability of any selling Holder hereunder be greater in amount than the dollar amount of the proceeds (net of payment of all
expenses) received by such Holder directly from the sale of the Registrable Shares giving rise to such indemnification obligation. The Company shall be entitled to receive indemnities from
underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution to the same extent as provided above with respect to information so
furnished in writing by such persons and/or entities expressly for use in any Prospectus or Registration Statement. 

        (c)   If
any person or entity shall be entitled to indemnity hereunder (an "indemnified party"), such indemnified party shall give prompt notice to the party from which such
indemnity is sought (the "indemnifying party") of any claim or of the commencement of any proceeding with respect to which such indemnified party seeks indemnification or contribution pursuant hereto;
provided, however, that the delay or failure to so notify the indemnifying party shall not relieve the indemnifying party from any obligation or liability except to the extent that the indemnifying
party has been prejudiced materially by such delay or failure. The indemnifying party shall have the right, exercisable by giving written notice to an indemnified party promptly after the receipt of
written notice from such indemnified party of such claim or proceeding, to assume, at the indemnifying party's expense, the defense of any such claim or proceeding, with counsel reasonably
satisfactory to such indemnified party; provided, however, that an indemnified party shall have the right to employ separate counsel in any such claim or proceeding and to participate in the defense
thereof, but the fees and expenses of such counsel shall be at the expense of such indemnified party unless: (1) the indemnifying party agrees to pay such fees and expenses; (2) the
indemnifying party fails promptly to assume the defense of such claim or proceeding or fails to employ counsel reasonably satisfactory to such indemnified party; or (3) counsel for the
indemnified party advises the indemnifying party in writing that there are issues that raise conflicts of interest between the indemnified party and the indemnifying party; in which case the
indemnified party shall have the right to employ counsel and to assume the defense of such claim or proceeding; provided, however, that the indemnifying party shall not, in connection with any one
such claim or proceeding or separate but substantially similar or related claims or proceedings in the same jurisdiction, arising out of the same general allegations or circumstances, be liable for
the fees and expenses of more than one firm of attorneys (together with appropriate local counsel) at any time for all of the indemnified parties, or for fees and expenses that are not reasonable. 

        Whether
or not such defense is assumed by the indemnifying party, such indemnified party will not be subject to any liability for any settlement made without its consent (but such
consent will not be unreasonably withheld). All such fees and expenses (including any reasonable fees and expenses incurred in connection with investigating or preparing to defend such action or
proceeding) shall be 

9

 

paid
to the indemnified party, as incurred, within five days of written notice thereof to the indemnifying party (regardless of whether it is ultimately determined that an indemnified party is
not entitled to indemnification hereunder). The indemnifying party shall not consent to entry of any judgment or enter into any settlement or otherwise seek to terminate any proceeding in which any
indemnified party is or could be a party and as to which indemnification or contribution could be sought by such indemnified party under this Section 8, unless such judgment, settlement or
other termination includes as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release, in form and substance reasonably satisfactory to the
indemnified party, from all liability in respect of such claim or litigation for which such indemnified party would be entitled to indemnification hereunder. 

        (d)   If
the indemnification provided for in this Section 8 is unavailable to an indemnified party under Section 8(a) or 8(b) hereof in respect of
any Losses or is insufficient to hold such indemnified party harmless, then each applicable indemnifying party, in lieu of indemnifying such indemnified party, shall, jointly and severally, contribute
to the amount paid or payable by such indemnified party as a result of such Losses, in such proportion as is appropriate to reflect the relative fault of the indemnifying party or indemnifying
parties, on the one hand, and such indemnified party, on the other hand, in connection with the actions, statements or omissions that resulted in such Losses as well as any other relevant equitable
considerations. The relative fault of such indemnifying party or indemnifying parties, on the one hand, and such indemnified party, on the other hand, shall be determined by reference to, among other
things, whether any action in questions, including any untrue or alleged untrue statement of a material fact or omission or alleged omission of a material fact, has been taken or made by, or relates
to information supplied by, such indemnifying party or indemnified party, and the parties' relative intent, knowledge, access to information and opportunity to correct or prevent such action,
statement or omission. The amount paid or payable by a party as a result of any Losses shall be deemed to include any legal or other fees or expenses incurred by such party in connection with any
proceeding. 

        Notwithstanding
the provision of this Section 8(d), an indemnifying party that is a selling Holder shall not be required to contribute any amount in excess of the amount by which
the net proceeds (after deducting the aggregate underwriters' discount) received by such indemnifying party from the sale of such Registrable Shares exceeds the amount of any damages that such
indemnifying party has otherwise been required to pay (including, without limitation, pursuant to any other indemnification or contribution obligation such indemnifying party may have) by reason of
such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act)
shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. 

        The
indemnity, contribution and expense reimbursement obligations of the Company hereunder shall be in addition to any liability the Company may otherwise have hereunder or otherwise.
The provisions
of this Section 8 shall survive so long as Registrable Shares remain outstanding, notwithstanding any transfer of the Registrable Shares by any Holder or any termination of this Agreement. 

        Section 9.
Miscellaneous. 

        (a)   Binding Effect. This Agreement shall be binding upon and shall inure to the benefit of the original parties hereto and
each person who becomes a party hereto, and their respective successors and assigns. 

        (b)   Notices. Except as otherwise provided herein, all notices, demands or other communications to be given or delivered under
or by reason of the provisions of this Agreement shall be in writing and shall be deemed to have been given when delivered personally to the recipient, sent to the recipient by reputable overnight
courier service (charges prepaid), mailed to 

10

 

the
recipient by certified or registered mail, return receipt requested and postage prepaid, or transmitted by facsimile or electronic mail (with request for immediate confirmation of receipt in a
manner customary for communications of such type and with physical delivery of the communication being made by one of the other means specified in this Section 9(b) as promptly as
practicable thereafter). Such notices, demands and other communications shall be addressed (i) in the case of a Holder, to his address as is designated in writing from time to time by such
Holder, (ii) in the case of the Company, to its principal office, and (iii) in the case of any transferee of a party to this Agreement or its transferee, to such transferee at its
address as designated in writing by such transferee to the Company from time to time. 

        (c)   Integration. This instrument contains the entire understanding of the parties with respect to the subject matter hereof,
supersedes all other agreements between or among any of the parties with respect to the subject matter hereof and cannot be altered or otherwise amended except pursuant the terms of
Section 9(e) below. The section and paragraph headings contained in this Agreement are for the reference purposes only and shall not affect in any way the meaning or
interpretation of this Agreement. 

        (d)   Counterparts. This Agreement may be executed in counterparts, which need not contain the signatures of more than one
party, but both such counterparts taken together will constitute one and the same Agreement. This Agreement may be executed and delivered by facsimile transmission. 

        (e)   Amendment. Except as otherwise provided herein, any term of this Agreement may be amended and the observance thereof may
be waived (either generally or in a particular instance and either retroactively or prospectively), only with the written consent of the Company and the Holders of a
majority of all Registrable Shares; provided, however, that no amendment hereto shall be made that adversely impacts the rights of a specific Holder without the prior written consent of such Holder.
Any amendment or waiver effected in accordance with this Section 9(e) shall be binding upon the Company and the Holders. 

        (f)    Governing Law. This Agreement shall be interpreted under the laws of the State of Colorado without reference to its
principles of conflicts of laws. 

        (g)   Specific Performance. Each of the parties acknowledges and agrees that the other parties would be damaged irreparably in
the event any of the provisions of this Agreement are not performed in accordance with their specific terms or otherwise are breached. Accordingly, each of the parties agrees that the other Parties
shall be entitled to an injunction or injunctions to prevent breaches of the provisions of this Agreement and to enforce specifically this Agreement and the terms and provisions hereof in any action
instituted in any court of the United States or any state thereof having jurisdiction over the parties and the matter, in addition to any other remedy to which they may be entitled, at law or in
equity. 

        (h)   Rule 144. The Company covenants that it will file the reports required to be filed by it under the Exchange Act of
1934 and the rules and regulations adopted by the SEC thereunder, all to the extent required from time to time to enable such Holder to sell Registrable Shares without registration under the
Securities Act within the limitation of the exemptions provided by (a) Rule 144 under the Securities Act, as such rule may be amended from time to time, or (b) any similar rule or
regulation hereafter adopted by the SEC. Upon the request of any Holder of Registrable Shares, the Company will deliver to such Holder a written statement as to whether it has complied with such
information and requirements. 

        (i)    Transfer of Registration Rights. The rights of each Holder (other than the right of DLJMBP Holders to request a Demand
Registration) under this Agreement may be assigned to a transferee or assignee of at least fifty thousand (50,000) shares (as adjusted for stock splits, stock 

11

 

dividends,
recapitalizations and the like) of a Holder's Registrable Securities not sold to the public; provided, however, that the Company is given written notice by such Holder at or within a
reasonable time after said transfer, stating the name and address of such transferee or assignee and identifying the securities with respect to which such registration rights are being transferred or
assigned. Notwithstanding the foregoing, any Holder may transfer rights to a transferee of fewer than fifty thousand (50,000) shares (as adjusted for stock splits, stock dividends, recapitalizations
and the like) of a Holder's Registrable Securities if such transfer is a Permitted Transfer under Section 2 of the Amended and Restated Shareholders' Agreement, date of even date herewith. The
DLJMBP Holders may assign its right to (i) one Demand Registration to any transferee acquiring at least 25% (but in no event less than 500,000 shares) of the aggregate
Class A-8 Shares (or converted common stock equivalent) held by the DLJMBP Holders on the date of such transfer, (ii) up to two Demand Registrations to any transferee
acquiring at least 50% (but in no event less than 500,000 shares) of the aggregate Class A-8 Shares (or converted common stock equivalent) held by the DLJMBP Holders on the date of
such transfer, (iii) up to three Demand Registrations to any transferee acquiring at least 75% (but in no event less than 500,000 shares) of the aggregate Class A-8 Shares
(or converted common stock equivalent) held by the DLJMBP Holders on the date of such transfer, or (iv) all of the remaining DLJMBP Demand Registrations to any transferee acquiring all of the
remaining Class A-8 Shares (or converted common stock equivalent) held by the DLJMBP Holders on the date of such transfer. 

        (j)    No Inconsistent Agreements. The Company shall not hereafter enter into any agreement with respect to its securities which
is inconsistent with or violates the rights granted to the holders of Registrable Shares in this Agreement. 

        (k)   Other Registration Rights. Except as provided in this Agreement, the Company shall not grant to any persons or entities
the right to request the Company to register any equity securities of the Company, or any securities convertible or exchangeable into or exercisable for such securities, without the prior written
consent of the Holders of a majority of the Registrable Shares; provided, that any person or entity to which or whom Registrable Shares, or rights to issuance of Registrable Shares have been issued,
assigned or transferred, in accordance with or as otherwise permitted by the Shareholders' Agreement and this Agreement, shall be allowed to become a Holder with respect to Registrable Shares held by
such person or entity that are an authorized series of stock designated as (i) Class A which (A) has a per share purchase price equal to the per share liquidation value thereof
(where the purchase price and liquidation value are as determined in the reasonable good faith judgment of the Board of Directors of the Company) or is issued in connection with bona fide debt
financing and (B) (1) is otherwise identical with respect to priority, voting powers and conversion features and (2) is otherwise identical or inferior with respect to dividend
rights to the then outstanding series of Class A Convertible Preferred Shares or (ii) Class AA which (A) has been issued in connection with obtaining debt financing from a
recognized financial institution, whether issued to a lender, guarantor, or other person (where the purchase price and liquidation value are as determined in the reasonable good faith judgment of the
Board of Directors of the Company) and (B) is otherwise identical to the then
outstanding series of Class AA Convertible Preferred Shares with respect to priority, voting powers, dividend rights and conversion features. 

        (l)    Adjustments Affecting Registrable Shares. The Company shall not take any action, or permit any change to occur, with
respect to its securities which would adversely affect the ability of the holders of Registrable Shares to include such Registrable Shares in a registration undertaken pursuant to this Agreement or
which would adversely affect the marketability of such Registrable Shares in any such in any such registration (including, without limitation, effecting a stock split or a combination of shares that
would preclude the exercise rights hereunder on a fully-adjusted basis). 

        This
amendment and restatement of the Existing Registration Rights Agreement has been effected by the written consent of the holders of a majority of the Registrable Shares pursuant to
Section 9(e) thereof. A copy of such written consent is attached hereto. 

12

QuickLinks

THIRD AMENDED & RESTATED REGISTRATION RIGHTS AGREEMENT

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]