Document:

ex_101952.htm

Exhibit 10.8

 

LRAD CORPORATION

 

RESTRICTED STOCK UNIT AWARD GRANT NOTICE AND

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

 

	
			Participant:

				 
	
			Address:

				 
	 	 

 

Participant has been granted a Restricted Stock Unit of LRAD Corporation (the “Company”), subject to the terms and conditions of this Restricted Stock Unit Award Grant Notice (the “Grant Notice”), the LRAD Corporation Amended and Restated 2015 Equity Incentive Plan (the “Plan”), and the Restricted Stock Unit Agreement attached hereto as Exhibit A (the “Agreement”), as follows. 

 

	Date of Grant:	 
	 	 
	
			Number of RSUs Granted:

				
			_______________ RSUs representing an equal number of shares of Common Stock (the “Shares”)

			
	 	 
	
			Vesting Schedule:

				 
	 	 
	 	 
	 	
			The RSUs will be subject to the accelerated vesting provisions of the Plan and the Agreement.

			

 

By his or her signature below, Participant agrees to be bound by the terms and conditions of the Plan, the Agreement and this Grant Notice. Participant has reviewed the Agreement, the Plan and this Grant Notice in their entirety, has had an opportunity to obtain the advice of counsel prior to executing this Grant Notice and fully understands all provisions of this Grant Notice, Agreement and the Plan. Participant has been provided with a copy or electronic access to a copy of the prospectus for the Plan. Participant hereby agrees to accept as binding, conclusive and final all decisions or interpretations of the Administrator upon any questions arising under the Plan, this Grant Notice or the Agreement. Capitalized terms not defined herein or in the Agreement shall have the meanings ascribed to such terms in the Plan.

 

By Participant’s signature and the signature of the Company’s representative below, Participant and the Company agree that the RSUs are granted under and governed by the terms and conditions of the Plan, the Agreement and this Grant Notice, including exhibits hereto and thereto, all of which are made a part of this document. 

 

	
			PARTICIPANT

				 	
			LRAD CORPORATION

			
	
			By:

				 	 	
			By:

				 
	
			Print Name:

				 	 	
			Print

				 
	
			Title:

				 	 	
			Title:

				 

 

 

 

 

EXHIBIT A

RESTRICTED STOCK UNIT AWARD AGREEMENT

 

Pursuant to the Grant Notice to which this Restricted Stock Unit Award Agreement (this “Agreement”) is attached, the Company has granted to Participant the right to receive the number of RSUs set forth in the Grant Notice. 

 

ARTICLE I.

GENERAL

 

1.1     Defined Terms. Capitalized terms not specifically defined herein shall have the meanings specified in the Plan and the Grant Notice.

 

1.2     Incorporation of Terms of Plan. The RSU Award is subject to the terms and conditions set forth in this Agreement and the Plan, which is incorporated herein by reference. In the event of any inconsistency between the Plan and this Agreement, the terms of the Plan shall control.

 

ARTICLE II.

award of restricted stock units

 

2.1     Award of Restricted Stock Units. 

 

  (a)     Award. In consideration of Participant’s past and/or continued employment with or service to the Company or any Subsidiary and for other good and valuable consideration, the Company hereby grants to Participant the right to receive the number of RSUs set forth in the Grant Notice, subject to all of the terms and conditions set forth in this Agreement, the Grant Notice and the Plan. Prior to actual issuance of any Shares, the RSUs and the RSU Award represent an unsecured obligation of the Company, payable only from the general assets of the Company.

 

  (b)     Vesting. The RSUs subject to the RSU Award shall vest in accordance with the Vesting Schedule set forth in the Grant Notice. Unless and until the RSUs have vested in accordance with the vesting schedule set forth in the Grant Notice, Participant will have no right to any distribution with respect to such RSUs. If a Participant ceases to be a Service Provider prior to the vesting of all of the RSUs, any unvested RSUs will terminate automatically without any further action by the Company and be forfeited without further notice and at no cost to the Company. 

 

  (c)     Distribution of Shares. 

 

(i)     Shares shall be distributed to Participant (or in the event of Participant’s death, to his or her estate) with respect to such Participant’s vested RSUs within thirty (30) days following the vesting date of the RSUs as specified in the Vesting Schedule set forth in the Grant Notice, subject to the terms and provisions of the Plan and this Agreement. 

 

(ii)     All distributions shall be made by the Company in the form of whole shares of Common Stock. In lieu of any fractional share of Common Stock, the Company shall make a cash payment to Participant equal to the Fair Market Value of such fractional share on the date the RSUs are settled pursuant to this Section 2.1.

 

(iii)     Neither the time nor form of distribution of Common Stock with respect to the RSUs may be changed, except as may be permitted by the Administrator in accordance with the Plan and Section 409A of the Code and the Treasury Regulations thereunder.

 

A-1

 

 

2.2      Tax Withholding. Notwithstanding any other provision of this Agreement (including, without limitation, Section 2.1(b) hereof): 

 

(a)     The Company and its Subsidiaries have the authority to deduct or withhold, or to require Participant to remit to the Company or the applicable Subsidiary, an amount sufficient to satisfy applicable federal, state, local and foreign taxes (including the Employee’s portion of any FICA obligation) required by Applicable Laws to be withheld with respect to any taxable event arising from the vesting of the RSUs or the receipt of the Shares upon settlement of the RSUs. The Company and its Subsidiaries may withhold, or may permit Participant to satisfy, the tax withholding obligation in one or more of the forms permitted by the Plan. 

 

(b)     The Company shall not be obligated to deliver any certificate representing Shares issuable with respect to the RSUs to Participant or his legal representative unless and until Participant or his legal representative shall have paid or otherwise satisfied in full the amount of all federal, state, local and foreign taxes applicable with respect to the taxable income of Participant resulting from the grant of the RSUs, the distribution of the Shares issuable with respect thereto, or any other taxable event related to the RSUs, provided that no payment shall be delayed under this Section 2.2(b) if such delay will result in the imposition of taxes or penalties under Section 409A of the Code.

 

2.3      Conditions to Issuance of Shares. The Company shall not be required to issue or deliver any Shares issuable upon the vesting of the RSUs prior to the fulfillment of all of the following conditions: (a) the admission of the Shares to listing on all stock exchanges on which such Shares are then listed, (b) the completion of any registration or other qualification of the Shares under any state or federal law or under rulings or regulations of the U.S. Securities and Exchange Commission or other governmental regulatory body, which the Administrator shall, in its sole and absolute discretion, deem necessary and advisable, (c) the obtaining of any approval or other clearance from any state or federal governmental agency that the Administrator shall, in its absolute discretion, determine to be necessary or advisable, (d) the lapse of any such reasonable period of time following the date the RSUs vest as the Administrator may from time to time establish for reasons of administrative convenience, subject to Section 409A of the Code and the Treasury Regulations and other guidance issued thereunder; and (e) the receipt by the Company of full payment of any applicable withholding tax pursuant to Section 2.2 above. Recipients of RSUs hereunder will comply with the Company’s procedures for tracking and administration thereof, including with respect to the issuance and holding of such RSUs.

 

2.4      Forfeiture and Claw-Back Provisions. Participant hereby agrees that the Administrator may provide that the Award shall terminate and any unvested RSUs shall be forfeited, if the Participant at any time prior to the vesting of the Award engages in any activity which is inimical, contrary or harmful to the interests of the Company, as determined by the Administrator, including, without limitation, any violation of any written Company policy, or the Participant’s employment is terminated for Cause. In addition, Participant hereby acknowledges and agrees that the Award is subject to the provisions of Section 22 of the Plan.

 

ARTICLE III.

other provisions

 

3.1      Administration. The Administrator shall have the power to interpret the Plan, the Grant Notice and this Agreement and to adopt such rules for the administration, interpretation and application of the Plan, the Grant Notice and this Agreement as are consistent therewith and to interpret, amend or revoke any such rules. All actions taken and all interpretations and determinations made by the Administrator will be final and binding upon Participant, the Company and all other interested persons. To the extent allowable pursuant to Applicable Laws, no member of the Administrator will be personally liable for any action, determination or interpretation made with respect to the Plan, the Grant Notice or this Agreement. 

 

A-2

 

 

3.2     RSU Award and Interests Not Transferable. This RSU Award and the rights and privileges conferred hereby, including the RSUs awarded hereunder, shall not be liable for the debts, contracts or engagements of Participant or his or her successors in interest or shall be subject to disposition by transfer, alienation, anticipation, pledge, encumbrance, assignment or any other means whether such disposition be voluntary or involuntary or by operation of law by judgment, levy, attachment, garnishment or any other legal or equitable proceedings (including bankruptcy), and any attempted disposition thereof shall be null and void and of no effect.

 

3.3     Rights as Stockholder. Neither Participant nor any person claiming under or through Participant shall have any of the rights or privileges of a stockholder of the Company in respect of any Shares issuable hereunder unless and until certificates representing such Shares (which may be in book-entry form) shall have been issued and recorded on the books and records of the Company or its transfer agents or registrars, and delivered to Participant (including through electronic delivery to a brokerage account). No adjustment will be made for a dividend or other right for which the record date is prior to the date of such issuance, recordation and delivery, except as provided in Section 8(c) of the Plan. After such issuance, recordation and delivery, Participant shall have all the rights of a stockholder of the Company, including with respect to the right to vote the Shares and the right to receive any cash or share dividends or other distributions paid to or made with respect to the Shares. 

 

3.4     Adjustments. Participant acknowledges that the RSU Award, including the vesting of the RSU Award and the number of Shares subject to the RSU Award, is subject to adjustment in the discretion of the Administrator upon the occurrence of certain events as provided in this Agreement and Section 15 of the Plan.

 

3.5     Not a Contract of Employment or other Service Relationship. Nothing in this Agreement or in the Plan shall confer upon Participant any right to continue to serve as an employee or other service provider of the Company or any of its affiliates. Participant understands and agrees that this Award does not alter the at-will nature of his or her employment relationship with the Company and is not a promise of continued employment for the vesting period of the Award or any portion of it. 

 

3.6     Conformity to Securities Laws. Participant acknowledges that the Plan, the Grant Notice and this Agreement are intended to conform to the extent necessary with all Applicable Laws, including, without limitation, the provisions of the Securities Act and the Exchange Act and any and all regulations and rules promulgated thereunder by the Securities and Exchange Commission, and state securities laws and regulations. Notwithstanding anything herein to the contrary, the Plan shall be administered, and the RSUs are granted and may be settled, only in such a manner as to conform to Applicable Laws. To the extent permitted by Applicable Laws, the Plan, the Grant Notice and this Agreement shall be deemed amended to the extent necessary to conform to Applicable Laws.

 

3.7     Amendment, Suspension and Termination. To the extent permitted by the Plan, this Agreement may be wholly or partially amended or otherwise modified, suspended or terminated at any time or from time to time by the Administrator, provided, that, except as may otherwise be provided by the Plan, no amendment, modification, suspension or termination of this Agreement shall impair any rights or obligations under this Agreement in any material way without the prior written consent of Participant.

 

A-3

 

 

3.8     Notices. Any notice to be given under the terms of this Agreement to the Company shall be addressed to the Company in care of the Secretary of the Company at the Company’s principal office, and any notice to be given to Participant shall be addressed to Participant at Participant’s last address reflected on the Company’s records. By a notice given pursuant to this Section 3.8, either party may hereafter designate a different address for notices to be given to that party. Any notice shall be deemed duly given when sent via email (if to Participant) or when sent by certified mail (return receipt requested) and deposited (with postage prepaid) in a post office or branch post office regularly maintained by the United States Postal Service

 

3.9     Successors and Assigns. The Company may assign any of its rights under this Agreement to single or multiple assignees, and this Agreement shall inure to the benefit of the successors and assigns of the Company. Subject to the restrictions on transfer set forth herein and the Plan, this Agreement shall be binding upon and inure to the benefit of the heirs, legatees, legal representatives, successors and assigns of the parties hereto.

 

3.10     Section 409A. 

 

 (a)     Notwithstanding any other provision of the Plan, this Agreement or the Grant Notice, the Plan, this Agreement and the Grant Notice shall be interpreted in accordance with, and incorporate the terms and conditions required by, Section 409A of the Code (together with any Department of Treasury regulations and other interpretive guidance issued thereunder, including without limitation any such regulations or other guidance that may be issued after the Grant Date, “Section 409A”). The Administrator may, in its discretion, adopt such amendments to the Plan, this Agreement or the Grant Notice or adopt other policies and procedures (including amendments, policies and procedures with retroactive effect), or take any other actions, as the Administrator determines are necessary or appropriate to comply with the requirements of Section 409A. 

 

 (b)     This Agreement is not intended to provide for any deferral of compensation subject to Section 409A of the Code, and, accordingly, the Shares issuable pursuant to the RSUs hereunder shall be distributed to Participant no later than the later of: (i) the fifteenth (15th) day of the third month following Participant’s first taxable year in which such RSUs are no longer subject to a substantial risk of forfeiture, and (ii) the fifteenth (15th) day of the third month following first taxable year of the Company in which such RSUs are no longer subject to substantial risk of forfeiture, as determined in accordance with Section 409A and any Treasury Regulations and other guidance issued thereunder. 

 

 (c)     For purposes of Section 409A of the Code (including, without limitation, for purposes of Treasury Regulation Section 1.409A-2(b)(2)(iii)), each payment that Participant may be eligible to receive under this Agreement shall be treated as a separate and distinct payment. 

 

3.11     Tax Representations. Participant has reviewed with Participant’s own tax advisors the federal, state, local and foreign tax consequences of this investment and the transactions contemplated by the Grant Notice and this Agreement. Participant is relying solely on such advisors and not on any statements or representations of the Company or any of its agents. Participant understands that Participant (and not the Company) shall be responsible for Participant’s own tax liability that may arise as a result of this investment or the transactions contemplated by this Agreement. 

 

3.12     Titles. Titles are provided herein for convenience only and are not to serve as a basis for interpretation or construction of this Agreement.

 

3.13     Governing Law; Severability. The laws of the State of California shall govern the interpretation, validity, administration, enforcement and performance of the terms of this Agreement regardless of the law that might be applied under principles of conflicts of laws. Should any provision of this Agreement be determined by a court of law to be illegal or unenforceable, the other provisions shall nevertheless remain effective and shall remain enforceable.

 

A-4

 

 

3.14     Limitations Applicable to Section 16 Persons. Notwithstanding any other provision of the Plan or this Agreement, if Participant is subject to Section 16 of the Exchange Act, the RSUs, the Plan and this Agreement shall be subject to any additional limitations set forth in any applicable exemptive rule under Section 16 of the Exchange Act (including any amendment to Rule 16b-3 of the Exchange Act) that are requirements for the application of such exemptive rule. To the extent permitted by Applicable Laws, this Agreement shall be deemed amended to the extent necessary to conform to such applicable exemptive rule.

 

3.15     Entire Agreement. The Plan, the Grant Notice and this Agreement (including any exhibit hereto) constitute the entire agreement of the parties and supersede in their entirety all prior undertakings and agreements of the Company and Participant with respect to the subject matter hereof. 

 

3.16     Limitation on Participant’s Rights. Participation in the Plan confers no rights or interests other than as herein provided. This Agreement creates only a contractual obligation on the part of the Company as to amounts payable and shall not be construed as creating a trust. Neither the Plan nor any underlying program, in and of itself, has any assets. Participant shall have only the rights of a general unsecured creditor of the Company with respect to amounts credited and benefits payable, if any, with respect to the RSUs, and rights no greater than the right to receive the Shares as a general unsecured creditor.

 

3.17     Counterparts. The Grant Notice may be executed in one or more counterparts, including by way of any electronic signature, subject to Applicable Laws, each of which shall be deemed an original and all of which together shall constitute one instrument.

 

3.18     Paperless Administration. By accepting this Award, Participant hereby agrees to receive documentation related to the Award by electronic delivery, such as a system using an internet website or interactive voice response, maintained by the Company or a third party designated by the Company. 

 

 

A-5Exhibit 4.1

 

EXECUTION VERSION

 

RIMINI STREET, INC.

 

PREEMPTIVE RIGHTS AGREEMENT

 

DATED AS OF DECEMBER
7, 2017

 

     

     

    

 

PREEMPTIVE RIGHTS AGREEMENT

 

This
PREEMPTIVE RIGHTS AGREEMENT is made as of December 7, 2017 by and among Rimini Street, Inc., a Delaware corporation (the “Company”),
the entities set forth on Schedule A-1 (the “GP Holders”), and the entities set forth on Schedule
A-2 (the “Adams Street Holders,” and together with the GP Holders, the “Holders”).

 

BACKGROUND

 

		A.	Rimini Street, Inc.,
a Nevada Corporation (‘‘Pre-Closing Rimini Street’’), and the Adams Street Holders (among
other parties), were parties to that certain Amended and Restated Stockholders’ Agreement dated as of October 31, 2016 (the
“Prior Agreement”).

 

		B.	Pre-Closing Rimini Street
is a party to that certain Agreement and Plan of Merger (the “Merger Agreement”), dated as of May 16,
2017 (as amended) by and among GP Investments Acquisition Corp., a Cayman Islands exempted company (“GPIA”),
Let’s Go Acquisition Corp., GPIA’s wholly-owned subsidiary (‘‘Let’s Go’’), Pre-Closing
Rimini Street, and, solely in his capacity as the initial Holder Representative for the limited purposes set forth therein, Robin
Murray.

 

		C.	Among other things, the Merger Agreement provides for the merger of Let’s Go with and into
Pre-Closing Rimini Street, with Pre-Closing Rimini Street surviving the merger (the ‘‘First Merger’’),
with the surviving corporation then merging with and into GPIA (which was a corporation incorporated in the State of Delaware,
following its domestication, with GPIA surviving the merger (the ‘‘Second merger’’ and, together
with the First Merger, the ‘‘Mergers’’) and renamed ‘‘Rimini Street, Inc.’’
(i.e., the Company).

 

		D.	The Mergers were consummated on October 10, 2017.

 

		E.	As a result of the consummation of the Mergers, the Prior Agreement will terminate in accordance
with its terms.

 

		F.	Immediately following the consummation of the Mergers, the Adams Street Holders, collectively,
as well as the GP Holders, hold a substantial portion of the issued and outstanding capital stock of the Company.

 

NOW, THEREFORE, for
good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, parties hereto agree as follows:

 

ARTICLE
1

 

INTERPRETATION

 

1.1       Definitions.
In this Agreement, the following terms shall have the meanings set out below unless the context requires otherwise:

 

“Affiliate”
or “Affiliated” means, with respect to any Person, (i) any other Person who directly or indirectly Controls
or is under common Control with, that Person, or (ii) any other Person that owns or controls five percent (5%) or more of
any class of equity securities (including any equity securities issuable upon the exercise of any option or convertible security)
of that Person or any of its affiliates.

 

    1

     

    

 

“Agreement”
means this Agreement, as it may be amended or supplemented from time to time, and the expressions “hereof”, “herein”,
“hereto”, “hereunder”, “hereby” and similar expressions refer to this Agreement and not to
any particular Section or other portion of this Agreement.

 

“Board”
means the board of directors of the Company.

 

“Business
Day” means any day except Saturday, Sunday or any day on which banks are generally not open for business in the place
where the registered office of the Company is located.

 

“Common
Stock” means the shares of the Company’s common stock.

 

“Control”
means possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person
whether through the ownership of equity interests or voting securities, by contract, or otherwise.

 

“Governmental
Authority” means any federal, state, provincial, municipal, local or foreign government, governmental authority, regulatory
or administrative agency, governmental commission, department, board, bureau, agency or instrumentality, court or tribunal.

 

“Governmental
Order” means any order, judgment, injunction, decree, writ, stipulation, determination or award, in each case, entered
by or with any Governmental Authority.

 

“including”
means including without limitation, and “includes” means includes without limitation.

 

“Law”
means any statute, law, ordinance, rule, regulation or Governmental Order, in each case, of any Governmental Authority.

 

“Major
Holder” means each Holder who, in each case giving effect to the provisions of Section 3.15, continues
to own at least five percent (5%) of the Company’s issued and outstanding Common Stock.

 

“Person”
is to be broadly interpreted and includes an individual, a corporation, a partnership, a trust, an unincorporated organization,
the government of a country or any political subdivision thereof, or any agency or department of any such government, and the executors,
administrators or other legal representatives of an individual in such capacity.

 

“Preferred
Stock” means any shares of any series of preferred stock of the Company.

 

“Shares”
means:

 

(a)        shares
of Common Stock;

 

(b)       shares
of Preferred Stock;

 

(c)        rights,
warrants, options and other instruments issued by the Company which entitle the holder, either under all circumstances or under
some circumstances, to acquire from the Company shares in the capital stock of the Company; and

 

    2

     

    

 

(d)       instruments
which are convertible or exchangeable, either under all circumstances or under some circumstances, into any of the foregoing.

 

1.2         Headings.
The division of this Agreement into Articles and Sections and the insertion of headings are for convenience of reference only and
shall not affect the construction or interpretation of this Agreement.

 

1.3         Number
and Gender. Unless the context requires otherwise, words importing the singular include the plural and vice versa and words
importing gender include all genders.

 

1.4         Business
Days. If any payment is required to be made or other action is required to be taken pursuant to this Agreement on a day which
is not a Business Day, then such payment or action shall be made or taken on the next Business Day.

 

1.5         Currency
and Payment Obligations. Except as otherwise expressly provided in this Agreement, all dollar amounts referred to in this Agreement
are stated in United States dollars and any payment contemplated by this Agreement shall be made by cash, certified check or any
other method that provides immediately available funds.

 

1.6         Statute
References. Any reference in this Agreement to any statute or any section thereof shall, unless otherwise expressly stated,
be deemed to be a reference to such statute or section as amended, restated, re-enacted or replaced from time to time.

 

1.7         Section
References. Unless the context requires otherwise, references in this Agreement to Articles and Sections are to Articles and
Sections of this Agreement.

 

ARTICLE
2

 

PRE-EMPTIVE
RIGHTS

 

2.1         Right
of First Refusal to Major Holders. The Company hereby grants to each Major Holder the right of first refusal to purchase
its pro rata share of New Securities (as defined in Section 2.2) which the Company may, from time to time, propose
to sell and issue after the date of this Agreement. A Major Holder’s “pro rata share,” for purposes of this right
of first refusal, is equal to the ratio of (a) the number of shares of Common Stock owned by such Major Holder immediately prior
to the issuance of New Securities to (b) the total number of shares of Common Stock outstanding immediately prior to the issuance
of New Securities (assuming full conversion or exercise of all then outstanding convertible securities, rights, options and warrants).

 

2.2         New
Securities. “New Securities” shall mean any capital stock (including Common Stock and/or Preferred
Stock) and debt securities of the Company whether now authorized or not, and rights, convertible securities, options or warrants
to purchase capital stock, and securities of any type whatsoever that are, or may become, exercisable or convertible into capital
stock; provided that the term “New Securities” does not include:

 

(a)       the
Shares issued as of the date hereof;

 

(b)       securities
issued or issuable to officers, employees, directors, consultants, placement agents, and other service providers of the Company
(or any subsidiary) pursuant to stock grants, option plans, purchase plans, agreements or other employee stock incentive programs
or arrangements approved by the Board;

 

    3

     

    

 

(c)       securities
issued pursuant to the conversion or exercise of warrants outstanding as of the date of this Agreement;

 

(d)       securities
issued or issuable as a dividend or distribution on Preferred Stock of the Company;

 

(e)       securities
issued or issuable pursuant to the acquisition of another corporation by the Company by merger, purchase of substantially all of
the assets or other reorganization or to a joint venture agreement, provided, that such issuances are approved by the Board;

 

(f)        securities
issued or issuable in connection with sponsored research, collaboration, technology license, development, OEM, marketing or other
similar agreements or strategic partnerships approved by the Board;

 

(g)       any
debt obligations incurred or issued by the Company or its subsidiaries pursuant to, or in connection with, any financing facilities
or other debt instruments arranged by Colbeck Capital Management LLC or any of its Affiliates;

 

(h)       any
right, option or warrant to acquire any security convertible into the securities excluded from the definition of New Securities
pursuant to subsections (a) through (g) above; and

 

(i)       debt
obligations under credit agreements with banks, equipment lessors or other financial institutions pursuant to a commercial leasing
or debt financing transaction approved by the Board.

 

2.3         Notice
of Sale. In the event the Company proposes to undertake an issuance of New Securities, it shall give each Major Holder
written notice (in accordance with Section 3.2 hereof) of its intention, describing (i) the type of New Securities, (ii)
their price or method of determining their price and (iii) the general terms upon which the Company proposes to issue the same.
Each Major Holder shall have ten (10) days after any such notice is received (in accordance with Section 3.2 hereof) to
agree to purchase such Major Holder’s pro rata share of such New Securities for the price and upon the terms specified in
the notice by giving written notice to the Company, and stating therein the quantity of New Securities to be purchased. The parties
hereto acknowledge and agree that any such notice delivered pursuant to this Section 2.3 shall be treated confidentially
by each recipient thereof.

 

2.4         Election
Period. In the event the Holders fail to exercise the right of first refusal within said ten (10) day period (the “Election
Period”), the Company shall have ninety (90) days thereafter to sell that portion of the New Securities with respect
to which the Major Holders’ right of first refusal option set forth in this  ARTICLE 2 was not exercised, at
a price and upon terms no more favorable to the purchasers thereof than specified in the Company’s notice to Major Holders
delivered pursuant to Section 2.3. In the event the Company has not sold within such ninety (90) day period following
the Election Period, the Company shall not thereafter issue or sell any New Securities, without first again offering such securities
to the Major Holders in the manner provided in this ARTICLE 2.

 

2.5         Expiration.
The right of first refusal granted under this Agreement shall expire upon, and shall not be applicable to, any offering of securities
following the Termination Date.

 

    4

     

    

 

ARTICLE
3

 

GENERAL

 

3.1         Amendment.
Except as expressly provided herein, neither this Agreement nor any term hereof may be amended, waived, discharged or terminated
other than by a written instrument referencing this Agreement and signed by the Company and each of the Holders who are adversely
affected by such amendment, waiver, discharge or termination. Any such amendment, waiver, discharge or termination effected in
accordance with this paragraph shall be binding upon each party to this Agreement.

 

3.2         Notices.
All notices and other communications among the parties shall be in writing and shall be deemed to have been duly given when delivered
(i) in person, (ii) after posting in the United States mail having been sent registered or certified mail return receipt requested,
postage prepaid, (iii) by FedEx or other nationally recognized overnight delivery service, or (iv) by telecopy or email (in each
case in this clause (iv), solely if receipt is confirmed and, in the case of email, excluding any automated reply, such as an out-of-office
notification), addressed as follows:

 

	If to the Company:	 	Rimini Street, Inc. 
	 	 	3993 Howard Hughes Parkway, Suite 500 
	 	 	Las Vegas, NV 89169 
	 	 	Attention:	Daniel B. Winslow 
	 	 	 	Senior Vice President and General Counsel 
	 	 	Telecopy No.:	(702) 973-7491 
	 	 	Email: dwinslow@riministreet.com
	 	 	 
	With a copy (which shall not constitute notice) to:	 	Wilson Sonsini Goodrich & Rosati Professional Corporation 
	 	 	1 Market Plaza
	 	 	San Francisco, California 94105
	 	 	Attention: Mike Ringler 
	 	 	Telecopy No.:	+1 (415) 947-2099 
	 	 	Email: mringler@wsgr.com
	 	 	 
	If to the GP Holders:	 	GPIC, Ltd.
	 	 	150 E. 52nd Street, Suite 5003 
	 	 	New York, NY 10022 
	 	 	Attention: Antonio Bonchristiano 
	 	 	Telecopy No.:	+1 (212) 430-4365 
	 	 	 	+ 55 11 3556-5566
	 	 	Email:  Antonio.bonchristiano@gp-investments.com
	 	 	 
	With a copy (which shall not constitute notice) to:	 	GP Investimentos, Ltda.
	 	 	Av. Brig. Faria Lima, 3900 - 7th floor
	 	 	04538-132  São Paulo – Brazil
	 	 	Attention: Ana Roson 
	 	 	Telecopy No.:	55 11 3556-5566
	 	 	Email:  ana.roson@gp-investments.com

 

 

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	If to the Adams Street Holders:	 	To the addresses set forth on Schedule A
	 	 	 
	With a copy (which shall not constitute notice) to:	 	Adams Street Partners, Inc.
	 	 	2500 Sand Hill Road, Suite 100
	 	 	Menlo Park, CA 94025
	 	 	Attn: Robin Murray
	 	 	Facsimile: (650) 331-4861
	 	 	 
	 	 	and
	 	 	 
	 	 	DLA Piper LLP (US)
	 	 	401 Congress Avenue, Suite 2500
	 	 	Austin, TX 78701-3799
	 	 	Attn: John J. Gilluly, III
	 	 	Facsimile: (512) 721-2290

 

3.3         Governing
Law. This Agreement, and all claims or causes of action based upon, arising out of, or related to this Agreement or
the transactions contemplated hereby, shall be governed by, and construed in accordance with, the Laws of the State of Delaware,
without giving effect to principles or rules of conflict of laws to the extent such principles or rules would require or permit
the application of Laws of another jurisdiction.

 

3.4         Successors
and Assigns. This Agreement, and any and all rights, duties and obligations hereunder, shall not be assigned, transferred,
delegated or sublicensed by any Investor without the prior written consent of the Company. Any attempt by a Holder without such
permission to assign, transfer, delegate or sublicense any rights, duties or obligations that arise under this Agreement shall
be void. Subject to the foregoing and except as otherwise provided herein, the provisions of this Agreement shall inure to the
benefit of, and be binding upon, the successors, assigns, heirs, executors and administrators of the parties hereto. Notwithstanding
the foregoing provisions of this Section 3.4, (a) any Adams Street Holder shall have the right, without the need for any
consent, to assign its rights pursuant to ARTICLE 2 hereof to any of its Affiliates, which Affiliates shall, upon
the purchase of any New Securities, join this Agreement as additional Adams Street Holders, and (b) any GP Holder shall have the
right, without the need for any consent, to assign its rights pursuant to ARTICLE 2 hereof to any of its Affiliates, which
Affiliates shall, upon the purchase of any New Securities, join this Agreement as additional GP Holders.

 

3.5         Entire
Agreement. This Agreement and the exhibits hereto constitute the entire agreement among the parties relating to the
transactions contemplated hereby and supersede any other agreements, whether written or oral, that may have been made or entered
into by or among any of the parties hereto or any of their respective Subsidiaries relating to the transactions contemplated hereby.
No representations, warranties, covenants, understandings, agreements, oral or otherwise, relating to the transactions contemplated
by this Agreement exist between the parties except as expressly set forth in this Agreement.

 

3.6         Delays
or Omissions. Except as expressly provided herein, no delay or omission to exercise any right, power or remedy accruing
to any party to this Agreement upon any breach or default of any other party under this Agreement shall impair any such right,
power or remedy of such non-defaulting party, nor shall it be construed to be a waiver of any such breach or default, or an acquiescence
therein, or of or in any similar breach or default thereafter occurring, nor shall any waiver of any single breach or default be
deemed a waiver of any other breach or default theretofore or thereafter occurring. Any waiver, permit, consent or approval of
any kind or character on the part of any party of any breach or default under this Agreement, or any waiver on the part of any
party 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 or by law or otherwise afforded to any party to this Agreement,
shall be cumulative and not alternative.

 

    6

     

    

 

3.7         Severability.
If any provision of this Agreement is held invalid or unenforceable by any court of competent jurisdiction, the other provisions
of this Agreement shall remain in full force and effect. The parties further agree that if any provision contained herein is, to
any extent, held invalid or unenforceable in any respect under the Laws governing this Agreement, they shall take any actions necessary
to render the remaining provisions of this Agreement valid and enforceable to the fullest extent permitted by Law and, to the extent
necessary, shall amend or otherwise modify this Agreement to replace any provision contained herein that is held invalid or unenforceable
with a valid and enforceable provision giving effect to the intent of the parties.

 

3.8         Waiver.
A waiver of any default, breach or non-compliance under this Agreement is not effective unless in writing and signed by the parties
to be bound by the waiver. No waiver shall be inferred from or implied by any failure to act or delay in acting by a party to this
Agreement in respect of any default, breach, non-observance or by anything done or omitted to be done by another party to this
Agreement. The waiver by a party of any default, breach or non-compliance under this Agreement shall not operate as a waiver of
that party’s rights under this Agreement in respect of any continuing or subsequent default, breach or non-compliance (whether
of the same or any other nature).

 

3.9         No
Partnership. Nothing in this Agreement shall be deemed in any way or for any purpose to constitute any Holder the partner of
any other Holder.

 

3.10       Telecopy
Execution and Delivery.  A facsimile, telecopy or other reproduction of this Agreement may be executed by one or more
parties hereto and delivered by such party by facsimile or any similar electronic transmission device pursuant to which the signature
of or on behalf of such party can be seen. Such execution and delivery shall be considered valid, binding and effective for all
purposes. At the request of any party hereto, all parties hereto agree to execute and deliver an original of this Agreement as
well as any facsimile, telecopy or other reproduction hereof.

 

3.11       Captions;
Counterparts.   The captions in this Agreement are for convenience only and shall not be considered a part of or
affect the construction or interpretation of any provision of this Agreement. This Agreement may be executed in two or more counterparts,
each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.

 

3.12       Jurisdiction;
Waiver of Jury Trial.

 

(a)       Any
proceeding or action based upon, arising out of or related to this Agreement or the transactions contemplated hereby must be brought
in the Court of Chancery of the State of Delaware (or, to the extent such Court does not have subject matter jurisdiction, the
Superior Court of the State of Delaware), or, if it has or can acquire jurisdiction, in the United States District Court for the
District of Delaware, and each of the parties irrevocably submits to the exclusive jurisdiction of each such court in any such
proceeding or action, waives any objection it may now or hereafter have to personal jurisdiction, venue or to convenience of forum,
agrees that all claims in respect of the proceeding or action shall be heard and determined only in any such court, and agrees
not to bring any proceeding or action arising out of or relating to this Agreement or the transactions contemplated hereby in any
other court. Nothing herein contained shall be deemed to affect the right of any party to serve process in any manner permitted
by Law or to commence legal proceedings or otherwise proceed against any other party in any other jurisdiction, in each case, to
enforce judgments obtained in any action, suit or proceeding brought pursuant to this Section 3.12.

 

    7

     

    

 

(b)       Each
party acknowledges and agrees that any controversy which may arise under this Agreement and the transactions contemplated hereby
is likely to involve complicated and difficult issues, and therefore each such party hereby irrevocably, unconditionally and voluntarily
waives any right such party may have to a trial by jury in respect of any action, suit or proceeding directly or indirectly arising
out of or relating to this Agreement or any of the transactions contemplated hereby.

 

3.13       Further
Assurances. Each party hereto agrees to execute and deliver, by the proper exercise of its corporate, limited liability
company, partnership or other powers, all such other and additional instruments and documents and do all such other acts and things
as may be necessary to more fully effectuate this Agreement.

 

3.14       Effectiveness.
Notwithstanding anything to the contrary herein, this Agreement shall only come into effect upon the receipt by the Company of
a consent to enter into this Agreement by the Required Lenders (under and as such term is defined in the Financing Agreement, dated
as of June 24, 2016 (as amended from to time) among the Company, each subsidiary of the Company party thereto as a Guarantor (if
any), the Lenders (hereinafter, as defined therein), Cortland Capital Market Services LLC, as collateral agent and as administrative
agent for such Lenders, and CB Agent Services LLC, as origination agent for such Lenders).

 

3.15       Termination.
Notwithstanding anything to the contrary herein, this Agreement (excluding any then-existing obligations) shall terminate (the
date upon which such termination shall occur, the “Termination Date”) upon the earlier of:

 

(a)       the
acquisition of the Company by another entity by means of any transaction or series of related transactions (including, without
limitation, any stock acquisition, reorganization, merger or consolidation but excluding any sale of stock for capital raising
purposes) other than a transaction or series of transactions in which the holders of the voting securities of the Company outstanding
immediately prior to such transaction continue to retain (either by such voting securities remaining outstanding or by such voting
securities being converted into voting securities of the surviving entity), as a result of shares in the Company held by such holders
prior to such transaction, more than fifty percent (50%) of the total voting power represented by the voting securities of the
Company or such surviving entity outstanding immediately after such transaction or series of transactions;

 

(b)       a
sale, lease or other conveyance of all or substantially all of the assets or intellectual property of the Company;

 

(c)       the
date upon which there are no Major Holders; or

 

(d)       the
fifth (5th) anniversary of the date hereof.

 

3.16       Aggregation
of Stock. All securities held or acquired by Affiliated entities (including Affiliated venture capital funds) or persons
and by the partners, members or other equity owners, or retired partners, retired members or other equity owners, of a party hereto
shall be aggregated together for purposes of determining the availability of any rights under this Agreement.

 

(Remainder of Page
Intentionally Left Blank)

 

    8

     

    

 

The parties are signing
this Preemptive Rights Agreement as of the date stated in the introductory clause.

 

	 	COMPANY:
	 	 
	 	RIMINI STREET, INC.,
	 	a Delaware corporation
	 	 	 
	 	By:	/s/ Seth A. Ravin
	 	 	 
	 	Name:	Seth A. Ravin
	 	 	 
	 	Title:	Chief Executive Officer

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	GP Holders:
	 	 
	 	GPIC, Ltd.,
	 	a Bermuda company
	 	 	 
	 	By:	/s/ Antonio Bonchristiano
	 	Antonio Bonchristiano, Authorized Signatory
	 	 	 
	 	RMNI InvestCo, LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Antonio Bonchristiano
	 	Antonio Bonchristiano, Authorized Signatory
	 	 	 
	 	GPIAC, LLC,
	 	a Delaware limited liability company
	 	 	 
	 	By:	/s/ Antonio Bonchristiano
	 	Antonio Bonchristiano, Authorized Signatory

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	ADAMS STREET HOLDERS:
	 	 
	 	ADAMS STREET 2007 DIRECT FUND, L.P.
	 	 
	 	By: ASP 2007 Direct Management, LLC, its General Partner
	 	 
	 	By: Adams Street Partners, LLC, its Managing Member
	 	 	 
	 	By:	/s/ Robin P. Murray
	 	 	 
	 	Name:	Robin P. Murray
	 	 	 
	 	Title:	Partner

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	ADAMS STREET 2008 DIRECT FUND, L.P.
	 	 
	 	By: ASP 2008 Direct Management, LLC, its General Partner
	 	 
	 	By: Adams Street Partners, LLC, its Managing Member
	 	 	 
	 	By:	/s/ Robin P. Murray
	 	 	 
	 	Name:	Robin P. Murray
	 	 	 
	 	Title:	Partner

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	ADAMS STREET 2009 DIRECT FUND, L.P.
	 	 
	 	By: ASP 2009 Direct Management, LLC, its General Partner
	 	 
	 	By: Adams Street Partners, LLC, its Managing Member
	 	 	 
	 	By:	/s/ Robin P. Murray
	 	 	 
	 	Name:	Robin P. Murray
	 	 	 
	 	Title:	Partner

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	ADAMS STREET 2013 DIRECT FUND, L.P.
	 	 
	 	By: ASP 2013 Direct Management, LP, its General Partner
	 	 
	 	By: ASP 2013 Direct Management, LLC, its General Partner
	 	 
	 	By: Adams Street Partners, LLC, its Managing Member
	 	 	 
	 	By:	/s/ Robin P. Murray
	 	 	 
	 	Name:	Robin P. Murray
	 	 	 
	 	Title:	Partner

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	ADAMS STREET 2014 DIRECT FUND, L.P.
	 	 
	 	By: ASP 2014 Direct Management, LP, its General Partner
	 	 
	 	By: ASP 2014 Direct Management, LLC, its General Partner
	 	 
	 	By: Adams Street Partners, LLC, its Managing Member
	 	 	 
	 	By:	/s/ Robin P. Murray
	 	 	 
	 	Name:	Robin P. Murray
	 	 	 
	 	Title:	Partner

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	ADAMS STREET 2015 DIRECT VENTURE/GROWTH FUND, L.P.
	 	 
	 	By: ASP 2015 Direct Management, LP, its General Partner
	 	 
	 	By: ASP 2015 Direct Management, LLC, its General Partner
	 	 
	 	By: Adams Street Partners, LLC, its Managing Member
	 	 	 
	 	By:	/s/ Robin P. Murray
	 	 	 
	 	Name:	Robin P. Murray
	 	 	 
	 	Title:	Partner

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	ADAMS STREET 2016 DIRECT VENTURE/GROWTH FUND, L.P.
	 	 
	 	By: ASP 2016 Direct Management, LP, its General Partner
	 	 
	 	By: ASP 2016 Direct Management, LLC, its General Partner
	 	 
	 	By: Adams Street Partners, LLC, its Managing Member
	 	 	 
	 	By:	/s/ Robin P. Murray
	 	 	 
	 	Name:	Robin P. Murray
	 	 	 
	 	Title:	Partner

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

	 	ADAMS STREET VENTURE/GROWTH FUND VI, L.P.
	 	 
	 	By: ASP VG Management VI LP, its General Partner
	 	 
	 	By: ASP VG Management VI LLC, its General Partner
	 	 
	 	By: Adams Street Partners, LLC, its Managing Member
	 	 	 
	 	By:	/s/ Robin P. Murray
	 	 	 
	 	Name:	Robin P. Murray
	 	 	 
	 	Title:	Partner

 

Rimini Street - Signature Page to Preemptive
Rights Agreement

 

     

     

    

 

SCHEDULE A-1

 

	Holder	 	Number of Existing Shares
	 	 	 
	GPIC, Ltd.	 	Common Stock: none
	150 E. 52nd Street, Suite 5003 	 	 
	New York, NY 10022 	 	 
	Attention: Antonio Bonchristiano 	 	 
	Telecopy No.:	+1 (212) 430-4365 	 	 
	 	+ 55 11 3556-5566	 	 
	 	 	 
	RMNI InvestCo, LLC 	 	Common Stock: 3,600,000
	c/o GPIC, Ltd.	 	 
	150 E. 52nd Street, Suite 5003 	 	 
	New York, NY 10022 	 	 
	Attention: Antonio Bonchristiano 	 	 
	Telecopy No.:	+1
(212) 430-4365 	 	 
	 	+ 55 11 3556-5566	 	 
	 	 	 
	GPIAC, LLC 	 	Common Stock: 4,252,500   
	c/o GPIC, Ltd.	 	
	150 E. 52nd Street, Suite 5003 	 	Warrants for common
    stock:  6,062,500
	New York, NY 10022 	 	 
	Attention: Antonio Bonchristiano 	 	 
	Telecopy No.:	+1
(212) 430-4365 	 	 
	 	+ 55 11 3556-5566	 	 

 

     

     

    

 

SCHEDULE A-2

 

	Holder	 	Number of Existing Shares
	 	 	 
	Adams Street 2007 Direct Fund, L.P. 	 	Common Stock: 4,325,820
	c/o Adams Street Partners, LLC 	 	 
	One North Wacker Drive, 	 	 
	Suite 2200 Chicago, IL 60606	 	 
	Telecopy No..:	(312) 553-7891	 	 
	 	 	 
	Adams Street 2008 Direct Fund, L.P. 	 	Common Stock: 4,875,911
	c/o Adams Street Partners, LLC 	 	 
	One North Wacker Drive, 	 	 
	Suite 2200 Chicago, IL 60606	 	 
	Telecopy No..:	(312) 553-7891	 	 
	 	 	 
	Adams Street 2009 Direct Fund, L.P. 	 	Common Stock: 4,272,039
	c/o Adams Street Partners, LLC 	 	 
	One North Wacker Drive, 	 	 
	Suite 2200 Chicago, IL 60606	 	 
	Telecopy No..:	(312) 553-7891	 	 
	 	 	 
	Adams Street 2013 Direct Fund, L.P. 	 	Common Stock: 1,313,301
	c/o Adams Street Partners, LLC 	 	 
	One North Wacker Drive, 	 	 
	Suite 2200 Chicago, IL 60606	 	 
	Telecopy No..:	(312) 553-7891	 	 
	 	 	 
	Adams Street 2014 Direct Fund, L.P. 	 	Common Stock: 1,786,318
	c/o Adams Street Partners, LLC 	 	 
	One North Wacker Drive, 	 	 
	Suite 2200 Chicago, IL 60606	 	 
	Telecopy No..:	(312) 553-7891	 	 

 

     

     

    

 

	Holder	 	Number of Existing Shares
	 	 	 
	Adams Street 2015 Direct Venture/Growth Fund, L.P. 	 	Common Stock: 1,371,200
	c/o Adams Street Partners, LLC 	 	 
	One North Wacker Drive, 	 	 
	Suite 2200 Chicago, IL 60606	 	 
	Telecopy No..:	(312) 553-7891	 	 
	 	 	 
	Adams Street 2016 Direct Venture/Growth Fund, L.P. 	 	Common Stock: 1,353,906
	c/o Adams Street Partners, LLC 	 	 
	One North Wacker Drive, 	 	 
	Suite 2200 Chicago, IL 60606	 	 
	Telecopy No..:	(312) 553-7891 	 	 
	 	 	 
	Adams Street Venture/Growth Fund VI, L.P. 	 	Common Stock: 3,982,079
	c/o Adams Street Partners, LLC 	 	 
	One North Wacker Drive, 	 	 
	Suite 2200 Chicago, IL 60606	 	 
	Telecopy No..:	(312) 553-7891

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