Document:

Exhibit 4.3

 

Execution Copy

 

 

AMENDMENT NUMBER ONE TO SFX STOCKHOLDER AGREEMENT

 

This AMENDMENT NUMBER ONE TO SFX STOCKHOLDER AGREEMENT (this “Amendment”) is entered into as of October 18, 2013, between One of Us Holding B.V., a company organized under the laws of the Netherlands (“One of Us”), and, solely for the purposes of Articles 1, 2, 8, and 10 of the SFX Stockholder Agreement (as amended by this Amendment), the Persons listed in Exhibit A (the “ID&T Shareholders”), and, solely for the purposes of Articles 1, 2, 8, and 10 of the SFX Stockholder Agreement (as amended by this Amendment), the Persons listed in Exhibit B (the “Ultimate ID&T Shareholders” and, collectively with One of Us and the ID&T Shareholders, the “ID&T Parties”), SFX Entertainment, Inc., a Delaware corporation (“SFX”), and, solely for the purposes of Articles 1, 3, 4, and 9 of the SFX Stockholder Agreement (as amended by this Amendment), Robert F.X. Sillerman (“Sillerman” and, collectively with SFX and the ID&T Parties, the “Parties”).

 

A.           The Parties are party to the SFX Stockholder Agreement, dated August 8, 2013 (the “SFX Stockholder Agreement”).

 

B.           On September 23, 2013, SFX, One of Us, and ID&T International entered into a letter agreement (the “Letter Agreement”), on the basis of which and subject to the terms thereof and the terms of the SPA, among other things: (i) One of Us agreed to transfer to the Buyer, and SFX agreed to purchase (or cause the Buyer to purchase) from One of Us, at the Closing 100% of the outstanding capital stock of ID&T Worldwide; and (ii) SFX, One of Us, and ID&T International agreed to cause SFX to become the sole owner, directly or indirectly, of all membership interests in the NAJV (including potentially through the acquisition of all of the issued and outstanding equity interests in ID&T International).

 

C.           On the date of this Amendment, SFX and SFXE Netherlands Holdings B.V., a company organized under the laws of the Netherlands, on the one hand, and One of Us, on the other hand, amended the SPA (the SPA, as so amended, the “Amended SPA”), to reflect the terms of the Letter Agreement.

 

D.           The Parties desire to enter into this Amendment to amend certain terms of the SFX Stockholder Agreement and to implement the terms of the Letter Agreement.

 

The Parties hereby agree as follows:

 

1.            Defined Terms.

 

(a)          Capitalized terms used but not defined herein have the respective meanings given to such terms in the SFX Stockholder Agreement.

 

(b)          “Allocated Shares” means, with respect to an ID&T Party, the aggregate number of shares of SFX Common Stock that such ID&T Party is to receive pursuant to the Allocated Shares Instructions (as defined in the Amended SPA) as set forth in Schedule 2.2(c)(ii) to the Amended SPA.

 

(c)          “Existing NAJV LLC Agreement” has the meaning set forth in the SPA.

 

 

(d)          “First Amendment to Existing NAJV LLC Agreement” means the First Amendment to Amended and Restated Limited Liability Company Operating Agreement of ID&T/SFX North America LLC, dated August 8, 2013, between the NAJV, ID&T International, and SFX-IDT N.A. Holding.

 

(e)          “NAJV Documents” means the NAJV JV Agreement, the Existing NAJV LLC Agreement, and the First Amendment to Existing NAJV LLC Agreement.

 

(f)           “Regulation S” means Regulation S of the Securities Act.

 

(g)          “U.S. Person” has the meaning given to such term under Regulation S.

 

2.            Amendments.

 

(a)          Article 1 of the SFX Stockholder Agreement is hereby amended to add the following defined terms in alphabetical order:

 

“Additional Parent Shares” has the meaning set forth in the Amended SPA.

 

“Existing NAJV LLC Agreement” has the meaning set forth in the SPA.

 

“Key Employee Employment Agreement Addendum No. 2” has the meaning set forth in the Amended SPA.

 

“Management Agreement Addendum No. 2” has the meaning set forth in the Amended SPA.

 

“NAJV Documents” means the NAJV JV Agreement, the Existing NAJV LLC Agreement, and the First Amendment to Existing NAJV LLC Agreement.

 

“October Addendum” means any of the following: any Key Employee Employment Agreement Addendum No. 2, any Management Agreement Addendum No. 2 (including the Tavecchio Management Agreement Addendum No. 2), and the Stutterheim Employment Agreement.

 

“Stutterheim Employment Agreement” has the meaning set forth in the Amended SPA.

 

“Tavecchio Management Agreement Addendum No. 2” has the meaning set forth in the Amended SPA.

 

(b)          The following defined term and its definition is hereby deleted from Article 1 of the SFX Stockholder Agreement: “ID&T Worldwide Shareholders’ Agreement”.

 

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(c)          The following defined terms in Article 1 of the SFX Stockholder Agreement are hereby amended and restated in their entirety to read as follows:

 

“Competing Business” means, as of a given time, any business or activity conducted by a Person that is or that could reasonably be considered to be competitive with the ID&T Worldwide Business or the NAJV Business at such time; except that (a) use of the Non-Business Assets (as defined in the SPA), in and of itself, will not be deemed to be a Competing Business and (b) ownership of the equity interests in TL Belgium (as defined in the binding term sheet dated as of June 13, 2013, between M&M Management Vennootschap BVBA, SFX, and ID&T Holding), in and of itself, will not be deemed to be a Competing Business.

 

“ID&T Shareholders Agreement” means that certain agreement, dated as of August 8, 2013, by and among One of Us and the ID&T Shareholders, as amended, relating to the SFX Shares.

 

“SFX Shares” means the NAJV SFX Shares, the Grant Date SFX Shares, and the Additional Parent Shares.

 

(d)          Section 8.1 of the SFX Stockholder Agreement is hereby amended and restated in its entirety to read as follows:

 

8.1         Non-solicitation. Each ID&T Party, during the period commencing on the Effective Date and ending on (and including) March 20, 2014, shall not (and shall cause such ID&T Party’s Affiliates to not), directly or indirectly: (a) intentionally interfere with the relationship between any of the SFX Entities, on the one hand, and any Person that is at any time during the Lock-Up Period a Key SFX Entity Contact, on the other hand; (b) solicit, recruit, or hire (or attempt to solicit, recruit, or hire) any Person that is at any time during the Lock-Up Period an employee of any SFX Entity, except for those employees whose employment has been previously terminated by such SFX Entity and except for general solicitations for employment that are not targeted at any such employee; or (c) take any action that is intended to divert from any SFX Entity any business opportunity that is within the scope of the business as then conducted by any SFX Entity.

 

(e)          Section 8.2 of the SFX Stockholder Agreement is hereby amended and restated in its entirety to read as follows:

 

8.2         Non-competition. Each ID&T Party, during the period commencing on the Effective Date and ending on (and including) March 20, 2014, shall not (and shall cause such ID&T Party’s Affiliates to not), directly or indirectly (whether as principal, agent, officer, Director, partner, employee, independent contractor, equityholder, licensor, or otherwise, and whether separately or in concert with one or more other 

 

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Persons), engage, participate, assist in, manage, or provide any services as a consultant or in any other capacity to, any Person or business that is or that was formed with a purpose of becoming (whether before or after the Closing) or engaging in (whether before or after the Closing) a Competing Business. If an ID&T Party exercises such ID&T Party’s right, if any, under and in accordance with an October Addendum to which such ID&T Party is a party, to terminate such ID&T Party’s employment agreement or management agreement, as applicable, in respect of a Creative Default (as defined in such October Addendum) and if the Non-Competition Obligations (as defined in such October Addendum) have terminated, then this Section 8.2 will thereby cease to thereafter apply to such ID&T Party and, if the personal holding company of such ID&T Party is party to such October Addendum, then also to such personal holding company; except that such ID&T Party’s obligations under this Section 8.2 will be reinstated to the extent that the Non-Competition Obligations (as defined in such October Addendum) are reinstated in accordance with such October Addendum.

 

(f)           The first sentence of Section 9.1(a) of the SFX Stockholder Agreement is hereby amended and restated in its entirety to read as follows:

 

For so long as One of Us holds or controls, directly or indirectly, more than 40% of the ID&T Effective Date Shares (including ID&T Effective Date Shares issuable upon exercise of the NAJV Warrant), SFX shall permit a representative of One of Us (the “Observer”), as One of Us designates in One of Us’s sole discretion, to serve as an observer to the SFX Board.

 

(g)          Section 10.10 of the SFX Stockholder Agreement is hereby amended and restated in its entirety to read as follows:

 

10.10    Entire Agreement. This Agreement, the Amended SPA, the ID&T International SPA, the other Ancillary Documents (as defined in the Amended SPA), the Existing NAJV LLC Agreement Surviving Terms, and the NAJV JV Agreement Surviving Terms (a) are a final, complete, and exclusive statement of the agreement and understanding of the Parties with respect of the subject matter hereof and thereof, (b) collectively constitute the entire agreement of the Parties with respect to the subject matter hereof and thereof, and (c) except with respect to the Existing NAJV LLC Agreement, the First Amendment to Existing NAJV LLC Agreement, the Existing NAJV LLC Agreement Surviving Terms, and the NAJV JV Agreement Surviving Terms, supersede, merge, and integrate herein any prior and contemporaneous negotiations, discussions, representations, understandings, and agreements between any of the Parties (including the Option Agreement (including the Side Letter), the Letter Agreement, and the Pre-existing Confidentiality Agreements), whether oral or written, with respect to the subject matter hereof or 

 

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thereof. Notwithstanding anything in this Agreement, the Amended SPA, the ID&T International SPA, or any of the Ancillary Documents to the contrary, the NAJV Documents will survive upon the occurrence of the Closing.

 

3.            Issuance and Transfer of Parent Common Stock. Each ID&T Party represents and warrants to SFX as follows:

 

(a)          Such ID&T Party is acquiring such ID&T Party’s Allocated Shares for investment purposes only, for such ID&T Party’s own account, and not with a view to, or for resale in connection with, any distribution thereof within the meaning of the Securities Act.

 

(b)          The offer of such ID&T Party’s Allocated Shares to such ID&T Party is not being made by any public or general means or pursuant to any public or general solicitation.

 

(c)

 

(i)           Such ID&T Party is an “accredited investor” as defined in Rule 501(a) under the Securities Act; or

 

(ii)          such ID&T Party:

 

(A)                        is not a U.S. Person, was not formed under the Laws of any United States jurisdiction, and was not formed for the purpose of investing in securities not registered under the Securities Act;

 

(B)                         is not acquiring such ID&T Party’s Allocated Shares for the account or on behalf of any U.S. Person;

 

(C)                         is outside the United States and was outside the United States at the time the offer to purchase such ID&T Party’s Allocated Shares was received;

 

(D)                        is not acquiring such ID&T Party’s Allocated Shares for the purpose of sale or distribution in the United States in a manner that does not comply with the requirements of Regulation S;

 

(E)                          has not made any pre-arrangement to transfer any of such ID&T Party’s Allocated Shares to a U.S. Person or to return any of such ID&T Party’s Allocated Shares to the United States securities markets (which includes short sales and hedging transactions in the United States within the periods restricted under Regulation S); and

 

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(F)          does not have a short position in, or other hedged position with respect to, any of such ID&T Party’s Allocated Shares or any other securities in SFX;

 

(d)                           Such ID&T Party acknowledges that such ID&T Party’s Allocated Shares will bear a restrictive legend to this effect that SFX might, in order to approve removal of the restrictive legend from certificates evidencing such ID&T Party’s Allocated Shares, require from such ID&T Party (i) certain written representations to indicate that a sale of such ID&T Party’s Allocated Shares was made in a transaction that complies with the provisions of Regulation S, pursuant to a registration of such ID&T Party’s Allocated Shares under the Securities Act, or pursuant to an exemption from the registration requirements of the Securities Act and (ii) a legal opinion that removal of the legend is appropriate; and

 

(e)                             Such ID&T Party acknowledges that such ID&T Party’s Allocated Shares are not permitted to be offered or sold within the United States or to, or for the account or benefit of, U.S. Persons except in accordance with Regulation S or pursuant to an exemption from the registration requirements of the Securities Act.

 

(f)                              Such ID&T Party is not acquiring such ID&T Party’s Allocated Shares as part of any plan or scheme to evade the registration requirements of the Securities Act.

 

(g)                            Such ID&T Party is entitled to acquire such ID&T Party’s Allocated Shares under the Laws of all relevant jurisdictions that apply to such ID&T Party and has fully observed such Laws and complied with all necessary formalities.

 

4.                                    Incorporation by Reference. The following provisions of the SFX Stockholder Agreement are hereby incorporated by reference as if set forth in full herein, mutatis mutandis: Section 10.1 (Notices); Section 10.3 (Amendments; Waivers); Section 10.5 (Arbitration); Section 10.6 (Governing Law); Section 10.7 (Consent to Jurisdiction and Venue); Section 10.8 (Counterparts); Section 10.9 (No Third-Party Beneficiaries); Section 10.11 (Captions); Section 10.12 (Severability); Section 10.13 (Interpretation; Construction); Section 10.14 (Equitable Relief); and Section 10.15 (Business Days).

 

5.                                  No Other Amendments. Except as amended hereby, the terms of the SFX Stockholder Agreement remain in effect.

 

6.                                    Assignment. Each Party shall not, and shall not purport to, assign any of such Party’s rights hereunder, delegate any of such Party’s obligations hereunder, or delegate such Party’s performance in satisfaction of any conditions to any obligations of any other Party hereunder (and shall not enter into any Contract that requires any such assignment or delegation) without the prior written consent of each other Party, and any such purported assignment or delegation without obtaining such written consent will be void.

 

7.                                  Waiver of Jury Trial. To the extent permitted by Law, each Party irrevocably and unconditionally waives any right that such Party might have to a trial by jury in any Suit arising out of or relating to this Amendment or the Transactions. Each Party acknowledges that: (a) such Party has considered the implications of the waiver in this 

 

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Section 7; (b) such Party will continue to rely upon the waiver in this Section 7 in such Party’s future dealings arising out of or relating to this Amendment and the Transactions; and (c) this provision is a material inducement for such Party to enter into this Amendment and to consummate the Transactions.

 

8.            Entire Agreement. This Amendment, the Amended SPA, the SFX Stockholder Agreement, the ID&T International SPA, the other Ancillary Documents (as defined in the SPA), the Existing NAJV LLC Agreement Surviving Terms, and the NAJV JV Agreement Surviving Terms (a) are a final, complete, and exclusive statement of the agreement and understanding of the Parties with respect of the subject matter hereof and thereof, (b) collectively constitute the entire agreement of the Parties with respect to the subject matter hereof and thereof, and (c) except with respect to the Existing NAJV LLC Agreement, the First Amendment to Existing NAJV LLC Agreement, the Existing NAJV LLC Agreement Surviving Terms, and the NAJV JV Agreement Surviving Terms, supersede, merge, and integrate herein any prior and contemporaneous negotiations, discussions, representations, understandings, and agreements between any of the Parties (including the Option Agreement (including the Side Letter), the Letter Agreement, and the Pre-existing Confidentiality Agreements), whether oral or written, with respect to the subject matter hereof or thereof. Notwithstanding anything in this Amendment, the Amended SPA, the SFX Stockholder Agreement, the ID&T International SPA, or any of the Ancillary Documents to the contrary, the NAJV Documents will survive upon the occurrence of the Closing.

 

9.            Further Assurances. Each Party shall, without further consideration, prepare, execute, acknowledge, file, record, publish, and deliver such other instruments, documents, and statements, and take such other actions as might be required by Law or reasonably necessary to effectively carry out the purposes hereof.

 

[Signature page follows.]

 

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The Parties are signing this Amendment as of the date first set forth above.

 

	
 
    	
SFX ENTERTAINMENT, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Sheldon Finkel
    	
 
    
	
 
    	
 
    	
Name: Sheldon Finkel
    	
 
    
	
 
    	
 
    	
Title: Vice Chairman
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ONE OF US HOLDING B.V.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Duncan Stutterheim
    	
 
    
	
 
    	
 
    	
Name: Duncan   Stutterheim
    	
 
    
	
 
    	
 
    	
Title: Director
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wouter Tavecchio
    	
 
    
	
 
    	
 
    	
Name: Wouter Tavecchio
    	
 
    
	
 
    	
 
    	
Title: Director
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Solely for the   limited purposes of Articles 1, 3, 4, and 9 of the Stockholder Agreement (as amended by this   Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ ROBERT F.X.   SILLERMAN
    	
 
    
	
 
    	
ROBERT F.X.   SILLERMAN
    	
 
    
							

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
W.H. TIMMERMAN BEHEER   BV
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Willem   Hendrik Timmerman
    	
 
    
	
 
    	
 
    	
Name: Willem Hendrik   Timmerman
    	
 
    
	
 
    	
 
    	
Title: 
    	
 
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
STICHTING ONE OF US
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Duncan Stutterheim
    	
 
    
	
 
    	
 
    	
Name: Duncan Stutterheim
    	
 
    
	
 
    	
 
    	
Title: Director
    	
 
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
W.W. TAVECCHIO BEHEER   BV
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Wouter Tavecchio
    	
 
    
	
 
    	
 
    	
Name: Wouter Tavecchio
    
	
 
    	
 
    	
Title: 
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
MCH HOLDING BV
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Duncan Stutterheim
    	
 
    
	
 
    	
 
    	
Name: Duncan Stutterheim
    
	
 
    	
 
    	
Title: Director
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
STICHTING   ADMINISTRATIEKANTOOR MCH
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Duncan Stutterheim
    	
 
    
	
 
    	
 
    	
Name: Duncan Stutterheim
    
	
 
    	
 
    	
Title: Director
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Wouter Tavecchio
    	
 
    
	
 
    	
WOUTER TAVECCHIO
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Duncan Stutterheim
    	
 
    
	
 
    	
DUNCAN   STUTTERHEIM
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Willem Hendrik Timmerman
    	
 
    
	
 
    	
WILLEM HENDRIK   TIMMERMAN
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Irfan Van Ewijk
    	
 
    
	
 
    	
IRFAN VAN EWIJK
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Bas Meijer
    	
 
    
	
 
    	
BAS MEIJER
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Eric Keijer
    	
 
    
	
 
    	
ERIC KEIJER
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Anne Louise Stutterheim-Wiebenga
    	
 
    
	
 
    	
ANNE LOUISE   STUTTERHEIM-WIEBENGA
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Sander Vermeulen
    	
 
    
	
 
    	
SANDER VERMEULEN
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Rendert-Jan Brevoord
    	
 
    
	
 
    	
RENDERT-JAN   BREVOORD
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Jonas Schmidt
    	
 
    
	
 
    	
JONAS SCHMIDT
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Henri Robert Gerald Werver
    	
 
    
	
 
    	
HENRI ROBERT   GERALD WERVER
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Michael Hekking
    	
 
    
	
 
    	
MICHAEL HEKKING
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Tamil Van Draanen
    	
 
    
	
 
    	
TAMIL VAN   DRAANEN
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Jeroen Jansen
    	
 
    
	
 
    	
JEROEN JANSEN
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Ritty Van Straalen
    	
 
    
	
 
    	
RITTY VAN   STRAALEN
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Fatith Kahyaoglu
    	
 
    
	
 
    	
FATITH KAHYAOGLU
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Paul Brouwer
    	
 
    
	
 
    	
PAUL BROUWER
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Ibo Orgut
    	
 
    
	
 
    	
IBO ORGUT
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Marcel Elbertse
    	
 
    
	
 
    	
MARCEL ELBERTSE
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Martijn Van Daalen
    	
 
    
	
 
    	
MARTIJN VAN   DAALEN
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Jan Lok
    	
 
    
	
 
    	
JAN LOK
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Olga Zegers
    	
 
    
	
 
    	
OLGA ZEGERS
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Peter Hillebrands
    	
 
    
	
 
    	
PETER   HILLEBRANDS
    

 

Signature Page to Amendment Number One to SFX Stockholder Agreement

 

 

	
 
    	
Solely for the   purposes of Articles 1, 2,   8, and 10   of the Stockholder Agreement (as amended by this Amendment)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/ Sander Bijlstra
    	
 
    
	
 
    	
SANDER BIJLSTRA
    

 

Signature Page to Amendment Number One to SFX Stockholder AgreementExhibit 4.4

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of October 31, 2013, is made and entered into by and among SFX Entertainment, Inc., a Delaware corporation (“Parent”), Mike Bindra (“Bindra”) and Laura De Palma (“De Palma”).  Capitalized terms appearing but not defined herein have the meanings ascribed to such terms in the Amended and Restated Membership Interest Purchase Agreement, dated October 31, 2013, by and among SFX Acquisition, LLC, a Delaware limited liability company, Parent, Made Event, LLC, a Massachusetts limited liability company, Bindra, EZ Festivals, LLC, a New York limited liability company and De Palma (the “Purchase Agreement”).  Bindra and De Palma are each a “Holder” and collectively, the “Holders”.

 

RECITALS

 

WHEREAS, pursuant to the Purchase Agreement, Parent issued or will issue certain Closing Stock Consideration, which includes shares of common stock, par value $0.001 per share, of Parent (“Registrable Securities”); and

 

WHEREAS, Parent desires to grant, and the Holders desire to receive, certain rights with respect to the registration of the Registrable Securities under the Securities Act of 1933, as amended (the “Securities Act”).

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and other good and valuable consideration, the parties hereto hereby agree as follows:

 

ARTICLE I
 PIGGY BACK REGISTRATION RIGHTS

 

1.1       If, at any time after the date hereof and prior to December 31, 2014 when there is not an effective registration statement covering the Registrable Securities pursuant to this Agreement or otherwise, Parent shall determine to prepare and file with the Commission a registration statement relating to an offering for its own account (other than the initial registration statement relating to an offering solely for its own account) or the account of others under the Securities Act of any of its equity securities (other than on Form S-4 or Form S-8 (each as promulgated under the Securities Act) or their then equivalents relating to equity securities to be issued solely in connection with any acquisition of any entity or business or equity securities issuable in connection with stock option or other employee benefit plans), Parent shall send to all of the Holders of Registrable Securities written notice of such determination and, if within twenty (20) days after receipt of such notice, or within such shorter period of time as may be specified by Parent in such written notice as may be necessary for Parent to comply with its obligations with respect to the timing of the filing of such registration statement, a Holder shall so request in writing (which request shall specify the Registrable Securities intended to be disposed of by such Holder), Parent will cause the registration under the Securities Act of all Registrable Securities which Parent has been so requested to register by such Holder, to the extent requisite to permit the disposition of the Registrable Securities so to be registered, provided that if at any time after giving written notice of its intention to register any securities and prior to the effective date of

 

 

US_ACTIVE-114681468

 

 

the registration statement filed in connection with such registration, Parent shall determine for any reason not to register or to delay registration of such securities, Parent may, at its election, give written notice of such determination to such Holder and, thereupon, (i) in the case of a determination not to register, shall be relieved of its obligation to register any Registrable Securities in connection with such registration, and (ii) in the case of a determination to delay registering, shall be permitted to delay registering any Registrable Securities being registered pursuant to this Section 1.1 for the same period as the delay in registering such other securities. Parent shall include in such registration statement all or any part of such Registrable Securities that a Holder requests to be registered; provided, however, that Parent shall not be required to register any Registrable Securities pursuant to this Section 1.1 that are eligible for sale pursuant to Rule 144 of the Securities Act without volume limitations or restrictions.  In the case of an underwritten public offering, if the managing underwriter(s) or underwriter(s) should reasonably object to the inclusion of the Registrable Securities in such registration statement, then if Parent after consultation with the managing underwriter should reasonably determine that the inclusion of such Registrable Securities would materially adversely affect the offering contemplated in such registration statement (including the price at which Parent proposes to sell the securities in such offering), and based on such determination recommends inclusion in such registration statement of fewer or none of the Registrable Securities of a Holder, then (x) the number of Registrable Securities of the Holders included in such registration statement shall be reduced, pro rata based on the number of Registrable Securities that each Holder has requested be included in such registration statement and the aggregate number of Registrable Securities that the Holders and the other holders that have received shares of Parent Common Stock in connection with an Acquisition (the “Other Holders”) have requested be included in such registration statement (such proportion is referred to herein as “Pro Rata”), if Parent after consultation with the underwriter(s) recommends the inclusion of fewer Registrable Securities, or (y) none of the Registrable Securities of the Holders or Other Holders shall be included in such registration statement, if Parent after consultation with the underwriter(s) recommends the inclusion of none of such Registrable Securities; provided, however, that if securities are being offered for the account of other persons or entities (the “Non Acquisition Other Holders”) as well as Parent, such reduction shall not represent a greater fraction of the number of Registrable Securities intended to be offered by the Holders and Other Holders than the fraction of similar reductions imposed on such Non Acquisition Other Holders or entities (other than Parent).

 

1.2       Notwithstanding anything to the contrary contained in this Agreement, in the event the staff of the Commission (the “Staff”) or the Commission seeks to characterize any offering pursuant to a registration pursuant to the provisions of this Article I as constituting an offering of securities by or on behalf of Parent, or in any other manner, such that the Staff or the Commission do not permit such registration statement to become effective and used for resales in a manner that does not constitute such an offering and that permits the continuous resale at the market by the Holders participating therein (or as otherwise may be acceptable to each Holder) without being named therein as an “underwriter,” then Parent shall reduce the number of shares to be included in such registration statement by all Holders, Other Holders and Non Acquisition Other Holders until such time as the Staff and the Commission shall so permit such registration statement to become effective as aforesaid. In making such reduction, Parent shall reduce the number of shares to be included by all Holders, Other Holders and Non Acquisition Other Holders on a Pro Rata basis unless the inclusion of shares by a particular Holder, Other Holder, Non Acquisition Other Holder or a particular set of Holders, Other Holders or Non Acquisition

 

 

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Other Holders are resulting in the Staff’s or the Commission’s “by or on behalf of Parent” offering position, in which event the shares held by such Holder or Other Holder or set of Holders or Other Holders shall be the only shares subject to reduction (and if by a set of Holders or Other Holders on a Pro Rata basis by such Holders or Other Holders or on such other basis as would result in the exclusion of the least number of shares by all such Holders or Other Holders).  In addition, in the event that the Staff or the Commission requires any Holder seeking to sell securities under a registration pursuant to the provisions of this Article I to be specifically identified as an “underwriter” in order to permit such registration statement to become effective, and such Holder does not consent to being so named as an underwriter in such registration statement, then, in each such case, Parent shall reduce the total number of Registrable Securities to be registered on behalf of such Holder, until such time as the Staff or the Commission does not require such identification or until such Holder accepts such identification and the manner thereof.

 

1.3       In the event of a registration pursuant to the provisions of this Article I, Parent shall use its best efforts to cause the Registrable Securities so registered to be registered or qualified for sale under the securities or blue sky laws of such jurisdictions as a majority-in-interest of the Holders together with the Other Holders may reasonably request; provided, however, that Parent shall not by reason of this Agreement be required to qualify to do business in any state in which it is not otherwise required to qualify to do business, to subject itself to taxation in any such jurisdiction or to file a general consent to service of process.  Parent shall use commercially reasonable efforts to keep effective any registration or qualification contemplated by this Agreement and shall, from time to time, amend or supplement each applicable registration statement, preliminary prospectus, final prospectus, application, document, and communication for such period of time as shall be required to permit the Holders to complete the offer and sale of the Registrable Securities covered thereby.

 

1.4       In the event of a registration pursuant to the provisions of this Article I, Parent shall furnish to a Holder such reasonable number of copies of the registration statement and of each amendment and supplement thereto (in each case, including all exhibits), such reasonable number of copies of each prospectus contained in such registration statement and each supplement or amendment thereto (including each preliminary prospectus), all of which shall conform to the requirements of the Securities Act and the rules and regulations promulgated thereunder, and such other documents, as a Holder may reasonably request to facilitate the disposition of the Registrable Securities included in such registration.

 

1.5       In the event of a registration pursuant to the provision of this Article I, Parent, the Holders and the Other Holders shall enter into a cross-indemnity agreement and a contribution agreement, each in customary form, with each underwriter, if any, and, if requested, enter into an underwriting agreement containing conventional representations, warranties, allocation of expenses, and customary closing conditions, with any underwriter who acquires any Registrable Securities.

 

1.6       Parent agrees that, until all the Registrable Securities have been sold under a registration statement or pursuant to Rule 144 promulgated under the Securities Act, it shall keep current in filing all reports, statements and other materials required to be filed with the

 

 

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Commission to permit holders of the Registrable Securities to sell such securities under Rule 144 promulgated under the Securities Act.

 

1.7       Parent may grant piggy back registration rights to other persons (including both Other Holders and Non Acquisition Other Holders) so long as such rights are pari passu or subordinate to the rights of the Holders and nothing herein contained shall prohibit Parent from granting to any person demand registration rights.

 

ARTICLE II
 INDEMNIFICATION AND CONTRIBUTION

 

2.1       Indemnification by Parent.  Parent shall, notwithstanding any termination of this Agreement, indemnify and hold harmless each Holder, its directors, officers, agents and employees, each person or entity who controls such Holder (within the meaning of Section 15 of the Securities Act and Section 20 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), and the directors, officers, agents and employees of such controlling persons or entities, to the fullest extent permitted by applicable law, from and against any and all losses, claims, damages, liabilities, costs (including, without limitation, costs of preparation and attorneys’ fees) and expenses (collectively, “Losses”), as incurred, arising out of any untrue or alleged untrue statement of a material fact contained in a registration statement covering the Registrable Securities, any prospectus or any form of prospectus or in any amendment or supplement thereto or in any preliminary prospectus, or arising out of or relating to any omission or alleged omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus or form of prospectus or supplement thereto, in the light of the circumstances under which they were made) not misleading, except to the extent, but only to the extent, that such untrue statements or omissions are based solely upon information regarding a Holder or such other Indemnified Party (as defined below) furnished in writing to Parent by such Holder expressly for use therein.  Parent shall notify each Holder promptly of any action, claim, suit, investigation or proceeding (including, without limitation, an investigation or partial proceeding, such as a deposition), whether commenced or threatened (a “Proceeding”) of which Parent is aware in connection with the transactions contemplated by this Agreement.

 

2.2       Indemnification by Holders.  Each Holder shall, severally but not jointly, indemnify and hold harmless Parent, its directors, officers, agents and employees, each person or entity who controls Parent (within the meaning of Section 15 of the Securities Act and Section 20 of the Exchange Act), and the directors, officers, agents and employees of such controlling persons or entities, to the fullest extent permitted by applicable law, from and against all Losses (as determined by a court of competent jurisdiction in a final judgment not subject to appeal or review), as incurred, arising solely out of or based solely upon any untrue statement of a material fact contained in a registration statement applicable to the Registrable Securities, any prospectus, or any form of prospectus, or in any amendment or supplement thereto, or arising solely out of or based solely upon any omission of a material fact required to be stated therein or necessary to make the statements therein (in the case of any prospectus or form of prospectus or supplement thereto, in the light of the circumstances under which they were made) not misleading, to the extent, but only to the extent, that such untrue statement or omission is contained in any information so furnished in writing by such Holder or other Indemnifying Party to Parent

 

 

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specifically for inclusion in a registration statement applicable to the Registrable Securities or such prospectus.

 

2.3       Conduct of Indemnification Proceedings.  If any Proceeding shall be brought or asserted against any person or entity entitled to indemnity hereunder (an “Indemnified Party”), such Indemnified Party promptly shall notify the person or entity from whom indemnity is sought (the “Indemnifying Party”) in writing, and the Indemnifying Party shall assume the defense thereof, including the employment of counsel reasonably satisfactory to the Indemnified Party and the payment of all fees and expenses incurred in connection with defense thereof; provided, that the failure of any Indemnified Party to give such notice shall not relieve the Indemnifying Party of its obligations or liabilities pursuant to this Agreement, except (and only) to the extent that it shall be finally determined by a court of competent jurisdiction that such failure shall have proximately and materially adversely prejudiced the Indemnifying Party.

 

An Indemnified Party shall have the right to employ separate counsel in any such 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 or Parties unless: (1) the Indemnifying Party has agreed in writing to pay such fees and expenses; or (2) the Indemnifying Party shall have failed promptly to assume the defense of such Proceeding and to employ counsel reasonably satisfactory to such Indemnified Party in any such Proceeding; or (3) the named parties to any such Proceeding (including any impleaded parties) include both such Indemnified Party and the Indemnifying Party, and such Indemnified Party shall have been advised by counsel (which shall be reasonably acceptable to the Indemnifying Party) that a conflict of interest is likely to exist if the same counsel were to represent such Indemnified Party and the Indemnifying Party (in which case, if such Indemnified Party notifies the Indemnifying Party in writing that it elects to employ separate counsel at the expense of the Indemnifying Party, the Indemnifying Party shall not have the right to assume the defense thereof and such counsel shall be at the expense of the Indemnifying Party).  The Indemnifying Party shall not be liable for any settlement of any such Proceeding effected without its written consent.  No Indemnifying Party shall, without the prior written consent of the Indemnified Party, effect any settlement of any pending Proceeding in respect of which any Indemnified Party is a party, unless such settlement includes an unconditional release of such Indemnified Party from all liability on claims that are the subject matter of such Proceeding.

 

All fees and expenses of the Indemnified Party (including reasonable fees and expenses to the extent incurred in connection with investigating or preparing to defend such Proceeding in a manner not inconsistent with this Section 2.3) shall be paid to the Indemnified Party, as incurred, within thirty (30) business 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; provided, that the Indemnifying Party may require such Indemnified Party to undertake to reimburse all such fees and expenses to the extent it is finally judicially determined that such Indemnified Party is not entitled to indemnification hereunder).

 

2.4       Contribution.  If a claim for indemnification under Section 2.1 or 2.2 is unavailable to an Indemnified Party because of a failure or refusal of a governmental authority to enforce such indemnification in accordance with its terms (by reason of public policy or otherwise), then each Indemnifying Party, in lieu of indemnifying such Indemnified Party, shall contribute to the

 

 

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amount paid or payable by such Indemnified Party as a result of such Losses, in such proportion as is appropriate to reflect the relative benefits received by the Indemnifying Party on the one hand and the Indemnified Party on the other from the offering of the Registrable Securities.  If, but only if, the allocation provided by the foregoing sentence is not permitted by applicable law, the allocation of contribution shall be made in such proportion as is appropriate to reflect not only the relative benefits referred to in the foregoing sentence but also the relative fault, as applicable, of the Indemnifying Party and Indemnified Party 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 and Indemnified Party shall be determined by reference to, among other things, whether any action in question, 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, subject to the limitations set forth in Section 2.3, any reasonable attorneys’ or other reasonable fees or expenses incurred by such party in connection with any Proceeding to the extent such party would have been indemnified for such fees or expenses if the indemnification provided for in this Section 2.4 was available to such party in accordance with its terms.

 

The parties hereto agree that it would not be just and equitable if contribution pursuant to this Section 2.4 were determined by pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to in the immediately preceding paragraph.  No person or entity guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any person or entity who was not guilty of such fraudulent misrepresentation.

 

ARTICLE III
 GENERAL

 

3.1       Amendments and Waivers.  No amendment or waiver of any term or provision of this Agreement shall be effective unless in writing signed by Parent and the Holders of at least a majority of the Registrable Securities at the time in question (the “Majority Holders”).  The waiver by Parent or the Majority Holders of a breach of any term or provision of this Agreement shall not be construed as a waiver of any subsequent breach.

 

3.2       Notices.  Except as otherwise provided in this Agreement, notices and other communications under this Agreement shall be in writing and shall be deemed to have been duly given on the date received by hand delivery, overnight delivery, facsimile transmission or registered mail, postage prepaid, addressed as follows:

 

3.2.1    if to Parent, to:

 

SFX Holding Corporation

650 Madison Avenue

New York, NY 10022

Attention:  Mitch Nelson, Esq.

 

 

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Facsimile No.:  Fax:  (212) 750-3034

 

and

 

3.2.2                        if to a Holder, to the address set forth opposite the name of such Holder on Exhibit A.

 

Parent and each Holder, by written notice given in accordance with this Section 3.2, may change the address to which such notice or other communications are to be sent.

 

3.3                            Parent Representations.  Parent represents and warrants to each Holder that:

 

3.3.1                Parent has all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby;

 

3.3.2                The execution and delivery of this Agreement by Parent and the consummation by Parent of the transactions contemplated hereby have been duly authorized by all necessary corporate action on the part of Parent;

 

3.3.3                This Agreement has been duly executed and delivered by Parent and (assuming the due authorization, execution and delivery hereof by each Holder) constitutes a valid and binding obligation of Parent, enforceable against Parent in accordance with its terms, except that such enforceability may be subject to (i) bankruptcy, insolvency, reorganization or other similar laws affecting or relating to enforcement of creditors’ rights generally and (ii) general equitable principles;

 

3.3.4                The execution and delivery of this Agreement do not, and the consummation of the transactions contemplated hereby and compliance with the provisions hereof will not, result in any violation or default (with or without notice or lapse of time, or both) under, (i) any provision of the charter or organizational documents of Parent, (ii) any judgment, order, decree, statute, law, ordinance, rule or regulation by which Parent is bound or to which any of its properties or assets is subject, other than, in which any of its properties or assets is subject, other than, in the case of clause (ii), any such violation or default that would not reasonably be expected to have a material adverse effect on the financial condition or operations of Parent, taken as a whole, and would not impair the ability of Parent to perform its obligations under this Agreement; and

 

3.3.5                No filing or registration with, or authorization, consent or approval of, any governmental authority is required by or with respect to Parent in connection with the execution and delivery by Parent of this Agreement or the consummation by Parent of the transactions contemplated hereby, except as otherwise expressly provided herein.

 

3.4                            Holder Representations.  Each Holder represents and warrants, severally but not jointly, to Parent that:

 

3.4.1                Such Holder has all requisite power and authority to enter into this Agreement and to consummate the transactions contemplated hereby;

 

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3.4.2                This Agreement has been duly executed and delivered by such Holder and (assuming the due authorization, execution and delivery hereof by Parent) constitutes a valid and binding obligation of such Holder, enforceable against such Holder in accordance with its terms, except that such enforceability may be subject to (i) bankruptcy, insolvency, reorganization or other similar laws affecting or relating to enforcement of creditors’ rights generally and (ii) general equitable principles;

 

3.4.3                The execution and delivery of this Agreement do not, and the consummation of the transactions contemplated hereby and compliance with the provisions hereof will not, result in any violation of or default (with or without notice or lapse of time, or both) under (i) any provision of the charter or organizational documents of such Holder, (ii) any judgment, order, decree, statute, law, ordinance, rule or regulation by which such Holder is bound or to which any of its properties or assets is subject, other than, in which any of its properties or assets is subject, other than, in the case of clause (ii), any such violation or default that would not reasonably be expected to have a material adverse effect on the financial condition or operations of such Holder, taken as a whole, and would not impair the ability of such Holder to perform its obligations under this Agreement;

 

3.4.4                No filing or registration with, or authorization, consent or approval of, any governmental authority is required by or with respect to such Holder in connection with the execution and delivery by such Holder of this Agreement or the consummation by such Holder of the transactions contemplated hereby, except as otherwise expressly provided herein.

 

3.5                            This Agreement and the rights, duties and obligations of Parent hereunder may not be assigned or delegated by Parent in whole or in part.  Prior to the date that is one year from the date that the Commission declares effective a registration pursuant to the provisions of Article I, no Holder may assign or delegate their rights, duties or obligations under this Agreement in whole or in part other than to such Holder’s Affiliates.  Except as set forth in immediately preceding sentence, this Agreement and the rights, duties and obligations of the Holders of Registrable Securities hereunder may be assigned or delegated by such Holder of Registrable Securities in conjunction with and to the extent of any transfer of Registrable Securities by any such Holder.  This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement.  No assignment by any party hereto of such party’s rights, duties and obligations hereunder shall be binding upon or obligate Parent unless and until Parent shall have received (i) written notice of such assignment as provided in Section 3.2 and (ii) the written agreement of the assignee, in a form reasonably satisfactory to Parent, to be bound by the terms and provisions of this Agreement (which may be accomplished by an addendum or certificate of joinder to this Agreement).  Any transfer or assignment made other than as provided in this Section 3.5 shall be null and void.

 

3.6                            Miscellaneous.

 

3.6.1                This Agreement shall be binding upon and inure to the benefit of and be enforceable by the parties hereto and the respective successors and assigns of the parties hereto.

 

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3.6.2                This Agreement constitutes the entire understanding between the parties with respect to the subject matter hereof and supersedes any and all previous agreements among them relating to the subject matter hereof, whether written, oral or implied.

 

3.6.3                This Agreement shall be governed by, and interpreted in accordance with, the laws of the State of New York, without giving effect to the conflicts of law principles thereof.

 

3.6.4                The Section and other headings contained in this Agreement are for reference purposes only and shall not affect the meaning or interpretation hereof.

 

3.6.5                This Agreement may be executed in one or more counterparts, each of which when so executed and delivered shall be deemed to be an original and all of which together shall be deemed to be one and the same agreement.

 

3.6.6                Should any term or condition of this Agreement be determined by a court of competent jurisdiction to be unenforceable for any reason, including, without limitation, violation of statute or public policy, such provision shall, if possible, be reformed by the parties hereto, or if the parties cannot agree, by the appropriate court of competent jurisdiction to comply with applicable legal requirements in a matter that is as close in its intent and effect to the original provision as possible or, if such reformation cannot be accomplished shall be stricken without affecting the validity of any other term or condition of this Agreement.

 

3.6.7                Each party hereto shall do and perform or cause to be done and performed all such further acts and things and shall execute and deliver all such other agreements, certificates, instruments, and documents as any other party hereto reasonably may request in order to carry out the intent and accomplish the purposes of this Agreement and the consummation of the transactions contemplated hereby.

 

3.6.8                This Agreement shall not confer any rights or benefits on any persons that are not parties hereto, other than as expressly set forth in this Agreement.

 

[SIGNATURE PAGES FOLLOW]

 

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

 

	
 
    	
PARENT:
    
	
 
    	
 
    
	
 
    	
SFX   ENTERTAINMENT, INC., 
   a Delaware corporation
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/ Robert F.X.   Sillerman
    
	
 
    	
 
    	
Name: Robert F.X.   Sillerman
    
	
 
    	
 
    	
Title: Executive   Chairman
    

 

[Signature Page – Registration Rights Agreement]

 

 

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

 

 

	
 
    	
HOLDERS:
    
	
 
    	
 
    
	
 
    	
/s/ Mike Bindra
    
	
 
    	
Mike Bindra
    
	
 
    	
 
    
	
 
    	
/s/ Laura De Palma
    
	
 
    	
Laura De Palma
    

 

[Signature Page to Registration Rights Agreement]

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