Document:

Exhibit 4.2

 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

BY AND AMONG

 

THE INVESTORS SET FORTH ON SCHEDULE A HERETO,

 

THE HOLDERS SET FORTH ON SCHEDULE B HERETO

 

AND

 

CROWDSTRIKE HOLDINGS, INC.

 

Dated as of June 21, 2018

 

 

TABLE OF CONTENTS

 

	
 
    	
 
    	
Page
    
	
 
    	
 
    	
 
    
	
ARTICLE I                                DEFINITIONS
    	
1
    
	
 
    	
 
    	
 
    
	
SECTION 1.01.
    	
Defined Terms
    	
1
    
	
SECTION 1.02.
    	
Other Interpretive   Provisions
    	
7
    
	
 
    	
 
    	
 
    
	
ARTICLE II                           REGISTRATION   RIGHTS
    	
7
    
	
 
    	
 
    	
 
    
	
SECTION 2.01.
    	
Demand Registration
    	
7
    
	
SECTION 2.02.
    	
Shelf Registration
    	
10
    
	
SECTION 2.03.
    	
Piggyback Registration
    	
13
    
	
SECTION 2.04.
    	
Black-out Periods
    	
15
    
	
SECTION 2.05.
    	
Registration Procedures
    	
16
    
	
SECTION 2.06.
    	
Underwritten Offerings
    	
20
    
	
SECTION 2.07.
    	
No Inconsistent   Agreements; Additional Rights
    	
22
    
	
SECTION 2.08.
    	
Registration Expenses
    	
22
    
	
SECTION 2.09.
    	
Indemnification
    	
23
    
	
SECTION 2.10.
    	
Rules 144 and 144A   and Regulation S
    	
26
    
	
SECTION 2.11.
    	
Limitation on   Registrations and Underwritten Offerings
    	
26
    
	
SECTION 2.12.
    	
Clear Market
    	
26
    
	
SECTION 2.13.
    	
In-Kind Distributions
    	
27
    
	
 
    	
 
    	
 
    
	
ARTICLE III                      MISCELLANEOUS
    	
27
    
	
 
    	
 
    	
 
    
	
SECTION 3.01.
    	
Term
    	
27
    
	
SECTION 3.02.
    	
Injunctive Relief
    	
27
    
	
SECTION 3.03.
    	
Attorneys’ Fees
    	
27
    
	
SECTION 3.04.
    	
Notices
    	
28
    
	
SECTION 3.05.
    	
Publicity and Confidentiality
    	
28
    
	
SECTION 3.06.
    	
Amendment
    	
28
    
	
SECTION 3.07.
    	
Successors, Assigns and   Transferees
    	
28
    
	
SECTION 3.08.
    	
Binding Effect
    	
29
    
	
SECTION 3.09.
    	
Third Party   Beneficiaries
    	
29
    
	
SECTION 3.10.
    	
Governing Law;   Jurisdiction
    	
29
    
	
SECTION 3.11.
    	
Waiver of Jury Trial
    	
29
    
	
SECTION 3.12.
    	
Severability
    	
30
    
	
SECTION 3.13.
    	
Counterparts
    	
30
    
	
SECTION 3.14.
    	
Headings
    	
30
    
	
SECTION 3.15.
    	
Joinder
    	
30
    

 

i

 

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT

 

This Amended and Restated Registration Rights Agreement (the “Agreement”) is made, entered into and effective June 21, 2018, by and among the investors set forth on Schedule A hereto (the “Investors”), the Holders other than the Investors (each as defined herein) set forth on Schedule B hereto and CrowdStrike Holdings, Inc., a Delaware corporation (including any of its successors by merger, acquisition, reorganization, conversion or otherwise (the “Company”)).

 

WITNESSETH:

 

WHEREAS, the Company and certain of the Holders and Investors previously entered into an Amended and Restated Registration Rights Agreement dated as of October 13, 2017 (the “Prior Agreement”); and

 

WHEREAS, in connection with the Company’s sale of shares of Series E Convertible Preferred Stock and Series E-1 Convertible Preferred Stock, the parties hereto, including certain of the Holders and Investors, desire to amend and restate the Prior Agreement in its entirety to set forth certain registration rights applicable to the Registrable Securities.

 

NOW, THEREFORE, in consideration of the foregoing and the mutual promises, covenants and agreements of the parties hereto, and for other good and valuable consideration the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree to amend and restate the Prior Agreement in its entirety as follows:

 

ARTICLE I

 

DEFINITIONS

 

SECTION 1.01.                                            Defined Terms. As used in this Agreement, the following terms shall have the following meanings:

 

“Accel” means Accel Leaders Fund L.P., Accel Leaders Fund Investors 2016 L.L.C., Accel London III L.P., Accel London Investors 2012 L.P., Accel Growth Fund II L.P., Accel Growth Fund II Strategic Partners L.P. and Accel Growth Fund Investors 2013 L.L.C.

 

“Adverse Disclosure” means public disclosure of material non-public information that, in the Board of Directors’ good faith judgment, after consultation with independent outside counsel to the Company, would be required to be made in any Registration Statement filed with the SEC by the Company so that such Registration Statement would not be materially misleading and would not be required to be made at such time but for the filing of such Registration Statement, but which information the Company has a bona fide business purpose for not disclosing publicly.

 

“Affiliate” has the meaning specified in Rule 12b-2 under the Exchange Act and, if the Holder is a venture capital fund or similar fund, shall include the affiliated funds of such Holder; provided that no Holder shall be deemed an Affiliate of the Company or its Subsidiaries for purposes of this Agreement; provided further that neither portfolio companies (as such term is commonly used in the private equity industry) of an Institutional Investor nor limited partners, non-managing members or other similar direct or indirect investors in an Institutional Investor shall be deemed to be Affiliates of such Institutional Investor. The term “Affiliated” has a correlative meaning.

 

“Agreement” has the meaning set forth in the preamble.

 

 

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

 

“Business Day” means any day other than a Saturday, Sunday or a day on which commercial banks located in New York, New York are required or authorized by law or executive order to be closed.

 

“CapitalG” means CapitalG LP and CapitalG 2015 LP.

 

“Change of Control” means the occurrence of any of the following: (i) the sale, lease or transfer, in a single transaction or in a series of related transactions, of all or substantially all of the assets of the Company and its Subsidiaries, taken as a whole, to any Person or (ii) the acquisition by any Person or group (within the meaning of Section 13(d)(3) or Section 14(d)(2) of the Exchange Act, or any successor provision) (other than the Institutional Investors and their Affiliates), including any group acting for the purpose of acquiring, holding or disposing of securities (within the meaning of Rule 13d-5(b)(1) under the Exchange Act, or any successor provision), in a single transaction or in a series of related transactions, by way of merger, consolidation or other business combination or purchase of beneficial ownership (within the meaning of Rule 13d-3 under the Exchange Act, or any successor provision) of 50% or more of the total voting power of the Company or any of its direct or indirect parent companies holding directly or indirectly 100% of the total voting power of the Company.

 

“Company” has the meaning set forth in the preamble.

 

“Company Public Sale” has the meaning set forth in Section 2.03(a).

 

“Company Share Equivalent” means, without duplication, securities exercisable, exchangeable or convertible into Company Shares.

 

“Company Shares” means the shares of common stock, par value $0.0005 per share, of the Company, and without duplication, any securities into which such shares of common stock shall have been changed, or any securities resulting from any reclassification, recapitalization or similar transactions with respect to such shares of common stock.

 

“Demand Company Notice” has the meaning set forth in Section 2.01(d).

 

“Demand Notice” has the meaning set forth in Section 2.01(a).

 

“Demand Party” has the meaning set forth in Section 2.01(a).

 

“Demand Period” has the meaning set forth in Section 2.01(c).

 

“Demand Registration” has the meaning set forth in Section 2.01(a).

 

“Demand Registration Statement” has the meaning set forth in Section 2.01(a).

 

“Demand Suspension” has the meaning set forth in Section 2.01(e).

 

“Eligibility Notice” has the meaning set forth in Section 2.02(a)(i).

 

“Exchange Act” means the Securities Exchange Act of 1934, as amended, and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time.

 

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“FINRA” means the Financial Industry Regulatory Authority.

 

“Form S-1” means a registration statement on Form S-1 under the Securities Act, or any comparable or successor form or forms thereto.

 

“Form S-3” means a registration statement on Form S-3 under the Securities Act, or any comparable or successor form or forms thereto.

 

“General Atlantic” means General Atlantic (CS), L.P.

 

“Holder” means any holder of Registrable Securities that is a party hereto or that succeeds to rights hereunder pursuant to Section 3.07 and shall include, with respect to an Other Investor that is not an Individual, such Management Individual that would be a Permitted Transferee (as such term is defined in the Stockholders Agreement) of such Other Investor.

 

“Initial S-3 Holder” has the meaning set forth in Section 2.02(a)(i).

 

“Initiating Holder” has the meaning set forth in Section 2.02(a)(ii).

 

“Initiating Shelf Take-Down Holder” has the meaning set forth in Section 2.02(e)(i).

 

“Institutional Investor” or “Institutional Investors” means Accel, CapitalG, General Atlantic, IVP, March Capital, Rackspace, Telstra, WPX and WPXP, any successor funds thereto, and their respective Affiliates that are direct or indirect equity investors in the Company; provided, however, that March Capital shall not be deemed an Institutional Investor (and shall be deemed a Holder other than the Investors) (i) at such time the Company reasonably determines such Person to be engaged in Competitive Activities (as such term is defined in the Stockholders Agreement) or (ii) at such time such Person becomes a holder of securities of a Person engaged in Competitive Activities (as such term is defined in the Stockholders Agreement); provided, further, that Telstra shall not be deemed an Institutional Investor (and shall be deemed a Holder other than the Investors) at such time Telstra becomes a holder of securities of any one or more of the Specified Competitors (as such term is defined in the Stockholders Agreement).

 

“Institutional Investor Registration Demands” has the meaning set forth in Section 2.11(c).

 

“Investor” or “Investors” means the Institutional Investors and the Other Investors.

 

“IPO” means the first underwritten public offering and sale of Company Shares for cash pursuant to an effective registration statement (other than on Form S-4, S-8 or a comparable form) under the Securities Act.

 

“Issuer Free Writing Prospectus” means an issuer free writing prospectus, as defined in Rule 433 under the Securities Act, relating to an offer of Registrable Securities.

 

“IVP” means Institutional Venture Partners XVI, L.P.

 

“Long-Form Registration” has the meaning set forth in Section 2.01(a).

 

“Loss” or “Losses” has the meaning set forth in Section 2.09(a).

 

3

 

“Management Individual” means George Kurtz, Dmitri Alperovitch and D. Gregg Marston.

 

“March Capital” means March Capital Opportunity Fund, L.P. and March Capital Partners Fund I, L.P.

 

“Marketed Underwritten Offering” means any Underwritten Offering (including a Marketed Underwritten Shelf Take-Down, but, for the avoidance of doubt, not including any Shelf Take-Down that is not a Marketed Underwritten Shelf Take-Down) that involves a customary “road show” (including an “electronic road show”) or other substantial marketing effort by the Company and the underwriters over a period of at least 48 hours.

 

“Marketed Underwritten Shelf Take-Down” has the meaning set forth in Section 2.02(e).

 

“Marketed Underwritten Shelf Take-Down Notice” has the meaning set forth in Section 2.02(e).

 

“Other Investors” means the parties set forth as such on Schedule A.

 

“Participating Holder” means, with respect to any Registration, any Holder of Registrable Securities covered by the applicable Registration Statement.

 

“Participating Institutional Investor” means, with respect to any Registration, any Institutional Investor that is a Holder of Registrable Securities covered by the applicable Registration Statement.

 

“Participating Investor” means, with respect to any Registration, any Investor that is a Holder of Registrable Securities covered by the applicable Registration Statement.

 

“Permitted Assignee” has the meaning set forth in Section 3.07.

 

“Person” means any individual, partnership, corporation, limited liability company, unincorporated organization, trust or joint venture, or a governmental agency or political subdivision thereof or any other entity.

 

“Piggyback Registration” has the meaning set forth in Section 2.03(a).

 

“Pro Rata Investor Shelf Percentage” means, as of the date that an Initiating Holder delivers a Shelf Notice to the Company pursuant to Section 2.02(a), any other Participating Investor delivers a written notice to the Company with respect to such Shelf Notice pursuant to Section 2.02(c) or the Initial S-3 Holders deliver S-3 Shelf Notices to the Company pursuant to Section 2.02(a), an amount equal to the fraction (expressed as a percentage) determined by dividing (i) the number of Registrable Securities held by such Initiating Holder (and its Affiliates and Permitted Assignees), any other Participating Investor (and its Affiliates and Permitted Assignees) or the Initial S-3 Holders, respectively, requested by such Initiating Holder, other Participating Investor or Initial S-3 Holders, respectively, to be registered on the applicable Shelf Registration Statement as of such date by (ii) the total number of Registrable Securities held as of such date by such Initiating Holder (and its Affiliates and Permitted Assignees), any other Participating Investor (and its Affiliates and Permitted Assignees) or Initial S-3 Holders, respectively.

 

4

 

“Pro Rata Shelf Percentage” means, as of any date, with respect to a Holder, a number of Registrable Securities equal to (i) the number of Registrable Securities held by such Holder as of such date multiplied by (ii) the largest Pro Rata Investor Shelf Percentage with respect to the Participating Investor(s) for the applicable Shelf Registration Statement.

 

“Prospectus” means the prospectus included in any Registration Statement, all amendments and supplements to such prospectus, including pre- and post-effective amendments to such Registration Statement, and all other material incorporated by reference in such prospectus.

 

“Rackspace” means Rackspace US, Inc.

 

“Registrable Securities” means any Company Shares and any securities that may be issued or distributed or be issuable or distributable in respect of, or in substitution for, any Company Shares by way of conversion, exercise, dividend, stock split or other distribution, merger, consolidation, exchange, recapitalization or reclassification or similar transaction, in each case whether now owned or hereinafter acquired; provided, however, that any such Registrable Securities shall cease to be Registrable Securities to the extent (i) a Registration Statement with respect to the sale of such Registrable Securities has been declared effective under the Securities Act and such Registrable Securities have been disposed of in accordance with the plan of distribution set forth in such Registration Statement, (ii) such Registrable Securities have been distributed pursuant to Rule 144 or Rule 145 of the Securities Act (or any successor rule) and new certificates for them not bearing a legend restricting transfer shall have been delivered by the Company, (iii) a Registration Statement on Form S-8 (or any successor form) covering such securities is effective or (iv) such security ceases to be outstanding. For the avoidance of doubt, it is understood that, with respect to any Registrable Securities for which a Holder holds vested but unexercised options or other Company Share Equivalents at such time exercisable for, convertible into or exchangeable for Company Shares, to the extent that such Registrable Securities are to be sold pursuant to this Agreement, such Holder must exercise the relevant option or exercise, convert or exchange such other relevant Company Share Equivalent and transfer the underlying Registrable Securities (in each case, net of any amounts required to be withheld by the Company in connection with such exercise).

 

“Registration” means a registration with the SEC of the Company’s securities for offer and sale to the public under a Registration Statement. The terms “Register” and “Registered” shall have correlative meanings.

 

“Registration Expenses” has the meaning set forth in Section 2.08.

 

“Registration Statement” means any registration statement of the Company that covers Registrable Securities pursuant to the provisions of this Agreement filed with, or to be filed with, the SEC under the rules and regulations promulgated under the Securities Act, including the related Prospectus, amendments and supplements to such registration statement, including pre- and post-effective amendments, and all exhibits and all material incorporated by reference in such registration statement.

 

“Representatives” means, with respect to any Person, any of such Person’s officers, directors, employees, agents, attorneys, accountants, actuaries, consultants, equity financing partners or financial advisors or other Person associated with, or acting on behalf of, such Person.

 

“Rule 144” means Rule 144 (or any successor provisions) under the Securities Act.

 

“S-3 Eligibility Date” has the meaning set forth in Section 2.02(a)(i).

 

“S-3 Shelf Notice” has the meaning set forth in Section 2.02(a)(i).

 

5

 

“SEC” means the Securities and Exchange Commission.

 

“Securities Act” means the Securities Act of 1933, as amended, and any successor thereto, and any rules and regulations promulgated thereunder, all as the same shall be in effect from time to time.

 

“Securities Purchase Agreements” means (i) the Securities Purchase Agreement, dated as of November 18, 2011, as amended, among the investors identified therein and the Company, (ii) the Securities Purchase Agreement dated as of August 21, 2013, among the investors identified therein and the Company, (iii) the Securities Purchase Agreement dated as of June 11, 2015, among the investors identified therein and the Company, (iv) the Securities Purchase Agreement dated as of May 11, 2017, among the investors identified therein and the Company, (v) the Securities Purchase Agreement dated as of October 13, 2017, among the investors identified therein and the Company, and (vi) the Series E & E-1 Securities Purchase Agreement.

 

“Series E & E-1 Purchase Agreement” means the Securities Purchase Agreement dated of even date herewith, among the investors identified therein and the Company.

 

“Shelf Holder” has the meaning set forth in Section 2.02(c).

 

“Shelf Notice” has the meaning set forth in Section 2.02(a)(ii).

 

“Shelf Period” has the meaning set forth in Section 2.02(b).

 

“Shelf Registration” means a Registration effected pursuant to Section 2.02.

 

“Shelf Registration Statement” means a Registration Statement of the Company filed with the SEC on either (i) Form S-3 or (ii) if the Company is not permitted to file a Registration Statement on Form S-3, an evergreen Registration Statement on Form S-1, in each case for an offering to be made on a continuous basis pursuant to Rule 415 under the Securities Act (or any successor provision) covering all or any portion of the Registrable Securities, as applicable.

 

“Shelf Suspension” has the meaning set forth in Section 2.02(d).

 

“Shelf Take-Down” has the meaning set forth in Section 2.02(e).

 

“Short-Form Registration” has the meaning set forth in Section 2.01(a).

 

“Special Registration” has the meaning set forth in Section 2.12.

 

“Specified Competitors” has the meaning set forth in the Stockholders Agreement.

 

“Stockholders Agreement” means the Amended and Restated Stockholders Agreement of the Company, dated of even date herewith, by and among the institutional investors listed on Schedule I thereto, the other initial investors whose names and addresses appear from time to time on Schedule II thereto, the other non-initial investors whose names and addresses appear from time to time on Schedule III thereto and the Company, as amended, modified or supplemented from time to time.

 

“Telstra” means Telstra Ventures Pty Ltd (ACN 125 607 454).

 

“Underwritten Offering” means a Registration in which securities of the Company are sold to an underwriter or underwriters on a firm commitment basis for reoffering to the public.

 

6

 

“Underwritten Shelf Take-Down Notice” has the meaning set forth in Section 2.02(e).

 

“WPX” means Warburg Pincus Private Equity X, L.P.

 

“WPXP” means Warburg Pincus X Partners, L.P.

 

SECTION 1.02.                                            Other Interpretive Provisions. (a) In this Agreement, except as otherwise provided:

 

(i)                                     A reference to an Article, Section, Schedule or Exhibit is a reference to an Article or Section of, or Schedule or Exhibit to, this Agreement, and references to this Agreement include any recital in or Schedule or Exhibit to this Agreement.

 

(ii)                                  The Schedules and Exhibits form an integral part of and are hereby incorporated by reference into this Agreement.

 

(iii)                               Headings and the Table of Contents are inserted for convenience only and shall not affect the construction or interpretation of this Agreement.

 

(iv)                              Unless the context otherwise requires, words importing the singular include the plural and vice versa, words importing the masculine include the feminine and vice versa, and words importing persons include corporations, associations, partnerships, joint ventures and limited liability companies and vice versa.

 

(v)                                 Unless the context otherwise requires, the words “hereof” and “herein”, and words of similar meaning refer to this Agreement as a whole and not to any particular Article, Section or clause. The words “include”, “includes” and “including” shall be deemed to be followed by the words “without limitation.”

 

(vi)                              A reference to any legislation or to any provision of any legislation shall include any amendment, modification or re-enactment thereof and any legislative provision substituted therefor.

 

(b)                                 The parties hereto have participated jointly in the negotiation and drafting of this Agreement. In the event an ambiguity or question of intention or interpretation arises, this Agreement shall be construed as if drafted jointly by the parties hereto, and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Agreement.

 

ARTICLE II

 

REGISTRATION RIGHTS

 

SECTION 2.01.                                            Demand Registration.

 

(a)                                 Demand by Institutional Investor or Other Investor. At any time following the six (6) month anniversary of the IPO, any Institutional Investor or Other Investor (such Institutional Investor or Other Investor, a “Demand Party”) may, subject to Section 2.11, make a written request (a “Demand Notice”) to the Company for Registration of all or part of the Registrable Securities held by such Demand Party (i) on Form S-1 (a “Long-Form Registration”) or (ii) on Form S-3 (a “Short-Form Registration”) if the Company qualifies to use such short form (any such requested Long-Form Registration or Short-Form Registration, a “Demand Registration”). Each Demand Notice shall specify the aggregate amount of

 

7

 

Registrable Securities of the Demand Party to be registered and the intended methods of disposition thereof. Subject to Section 2.11, after delivery of such Demand Notice, the Company (x) shall file promptly (and, in any event, within (i) ninety (90) days in the case of a request for a Long-Form Registration or (ii) thirty (30) days in the case of a request for a Short-Form Registration, in each case, following delivery of such Demand Notice) with the SEC a Registration Statement relating to such Demand Registration (a “Demand Registration Statement”), and (y) shall use its reasonable best efforts to cause such Demand Registration Statement to promptly be declared effective under (x) the Securities Act and (y) the “Blue Sky” laws of such jurisdictions as any Participating Holder or any underwriter, if any, reasonably requests.

 

(b)                                 Demand Withdrawal. A Demand Party may withdraw its Registrable Securities from a Demand Registration at any time prior to the effectiveness of the applicable Demand Registration Statement. Upon delivery of a notice by the Demand Party to such effect, the Company shall cease all efforts to secure effectiveness of the applicable Demand Registration Statement, and such Registration shall not be deemed to be a Demand Registration with respect to such Demand Party for purposes of Section 2.11.

 

(c)                                  Effective Registration. The Company shall be deemed to have effected a Demand Registration with respect to the applicable Demand Party for purposes of Section 2.11 if the Demand Registration Statement is declared effective by the SEC and remains effective for not less than 180 days (or such shorter period as shall terminate when all Registrable Securities covered by such Registration Statement have been sold or withdrawn), or if such Registration Statement relates to an Underwritten Offering, such longer period as, in the opinion of counsel for the underwriter or underwriters, a Prospectus is required by law to be delivered in connection with sales of Registrable Securities by an underwriter or dealer (the applicable period, the “Demand Period”). No Demand Registration shall be deemed to have been effected for purposes of Section 2.11 if (i) during the Demand Period such Registration is interfered with by any stop order, injunction or other order or requirement of the SEC or other governmental agency or court, (ii) the conditions to closing specified in the underwriting agreement, if any, entered into in connection with such Registration are not satisfied other than by reason of a wrongful act, misrepresentation or breach of such applicable underwriting agreement by a Demand Party or (iii) there is a Demand Suspension.

 

(d)                                 Demand Company Notice. Subject to Section 2.11, promptly upon delivery of any Demand Notice (but in no event more than five (5) Business Days thereafter), the Company shall deliver a written notice (a “Demand Company Notice”) of any such Registration request to all Holders (other than the Demand Party), and the Company shall include in such Demand Registration all such Registrable Securities of such Holders which the Company has received written requests for inclusion therein within ten (10) Business Days after the date that such Demand Company Notice has been delivered. All requests made pursuant to this Section 2.01(d) shall specify the aggregate amount of Registrable Securities of such Holder to be registered.

 

(e)                                  Delay in Filing; Suspension of Registration. If the Company shall furnish to the Participating Holders a certificate signed by the Chief Executive Officer or equivalent senior executive officer of the Company stating that the filing, effectiveness or continued use of a Demand Registration Statement would require the Company to make an Adverse Disclosure, then the Company may delay the filing (but not the preparation of) or initial effectiveness of, or suspend use of, the Demand Registration Statement (a “Demand Suspension”); provided, however, that the Company, unless otherwise approved in writing by the Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors, shall not be permitted to exercise aggregate Demand Suspensions and Shelf Suspensions more than twice, or for more than an aggregate of 90 days, in each case, during any 12-month period; provided, further, that in the event of a Demand Suspension, such Demand Suspension

 

8

 

shall terminate at such earlier time as the Company would no longer be required to make any Adverse Disclosure. Each Participating Holder shall keep confidential the fact that a Demand Suspension is in effect, the certificate referred to above and its contents unless and until otherwise notified by the Company, except (A) for disclosure to such Participating Holder’s employees, agents and professional advisers who reasonably need to know such information for purposes of assisting the Participating Holder with respect to its investment in the Company Shares and agree to keep it confidential, (B) for disclosures to the extent required in order to comply with reporting obligations to its limited partners or other direct or indirect investors who have agreed to keep such information confidential, (C) if and to the extent such matters are publicly disclosed by the Company or any of its Subsidiaries or any other Person that, to the actual knowledge of such Participating Holder, was not subject to an obligation or duty of confidentiality to the Company and its Subsidiaries and (D) as required by law, rule or regulation. In the case of a Demand Suspension, the Participating Holders agree to suspend use of the applicable Prospectus and any Issuer Free Writing Prospectus in connection with any sale or purchase of, or offer to sell or purchase, Registrable Securities, upon delivery of the notice referred to above. The Company shall immediately notify the Participating Holders upon the termination of any Demand Suspension, amend or supplement the Prospectus and any Issuer Free Writing Prospectus, if necessary, so it does not contain any untrue statement or omission and furnish to the Participating Holders such numbers of copies of the Prospectus and any Issuer Free Writing Prospectus as so amended or supplemented as the Participating Holders may reasonably request. The Company agrees, if necessary, to supplement or make amendments to the Demand Registration Statement if required by the registration form used by the Company for the applicable Registration or by the instructions applicable to such registration form or by the Securities Act or the rules or regulations promulgated thereunder, or as may reasonably be requested by any Demand Party.

 

(f)                                   Underwritten Offering. If a Demand Party so requests, an offering of Registrable Securities pursuant to a Demand Registration shall be in the form of an Underwritten Offering, and such Demand Party shall have the right to select the managing underwriter or underwriters to administer the offering. If the Demand Party intends to sell the Registrable Securities covered by its demand by means of an Underwritten Offering, such Demand Party shall so advise the Company as part of its Demand Notice, and the Company shall include such information in the Demand Company Notice.

 

(g)                                  Priority of Securities Registered Pursuant to Demand Registrations. If the managing underwriter or underwriters of a proposed Underwritten Offering of the Registrable Securities included in a Demand Registration advise the Board of Directors in writing that, in its or their opinion, the number of securities requested to be included in such Demand Registration exceeds the number which can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, the securities to be included in such Demand Registration (i) first, shall be allocated to the Demand Party that has initiated such Demand Registration, (ii) second, and only if all the securities referred to in clause (i) have been included in such Registration, shall be allocated pro rata among the Investors (other than the Demand Party) that have requested to participate in such Demand Registration based on the number of Registrable Securities then held by each such Investor relative to the number of Registrable Securities then held by all Investors (other than the Demand Party) (provided that any securities thereby allocated to an Investor (other than the Demand Party) that exceed such Investor’s request shall be reallocated among the remaining requesting Investors (other than the Demand Party) in like manner), (iii) third, and only if all the securities referred to in clauses (i) and (ii) have been included in such Registration, shall be allocated pro rata among the Holders (excluding the Investors, as applicable) that have requested to participate in such Demand Registration based on the relative number of Registrable Securities then held by each such Holder (provided that any securities thereby allocated to a Holder that exceed such Holder’s request shall be reallocated among the remaining requesting Holders in like manner), (iv) fourth, and only if all the securities referred to in clauses (i), (ii) and (iii) have been included in such Registration, the number of

 

9

 

securities that the Company proposes to include in such Registration that, in the opinion of the managing underwriter or underwriters, can be sold without having such adverse effect and (v) fifth, and only if all of the securities referred to in clause (iii) have been included in such Registration, any other securities eligible for inclusion in such Registration that, in the opinion of the managing underwriter or underwriters, can be sold without having such adverse effect.

 

SECTION 2.02.                                            Shelf Registration.

 

(a)                                 Filing.

 

(i)                                     Following the IPO, the Company shall use its reasonable best efforts to qualify for Registration on Form S-3 for secondary sales. Promptly following the date on which the Company becomes eligible to Register on Form S-3 (the “S-3 Eligibility Date”), the Company shall notify, in writing, the Investors of such eligibility and its intention to file and maintain a Shelf Registration Statement on Form S-3 covering the Registrable Securities held by the Investors (the “Eligibility Notice”). Promptly following receipt of such Eligibility Notice (but in no event more than ten (10) days after receipt of such Eligibility Notice), the Investors shall deliver a written notice to the Company, which notice shall specify the aggregate amount of Registrable Securities held by such Investor to be covered by such Shelf Registration Form and the intended methods of distribution thereof (the “S-3 Shelf Notice” and such Investors, the “Initial S-3 Holders”). Following delivery of the S-3 Shelf Notices, the Company (x) shall file promptly (and, in any event, within the earlier of (i) thirty (30) days of receipt of the S-3 Shelf Notices and (ii) forty (40) days after delivery of the Eligibility Notice) with the SEC such Shelf Registration Statement (which shall be an automatic Shelf Registration Statement if the Company qualifies at such time to file such a Shelf Registration Statement) relating to the offer and sale of all Registrable Securities requested for inclusion therein by the Initial S-3 Holders and, to the extent requested under Section 2.02(c), the other Holders from time to time in accordance with the methods of distribution elected by such Holders (to the extent permitted in this Section 2.02) and set forth in the Shelf Registration Statement and (y) shall use its reasonable best efforts to cause such Shelf Registration Statement to be promptly declared effective under the Securities Act (including upon the filing thereof if the Company qualifies to file an automatic Shelf Registration Statement); provided, however, that if an Institutional Investor reasonably believes that the Company will become S-3 eligible and delivers a S-3 Shelf Notice following the IPO but prior to the S-3 Eligibility Date, the Company shall not be obligated to file (but shall be obligated to prepare) such Shelf Registration Statement on Form S-3.

 

(ii)                                  Subject to the right to deliver a Shelf Notice in the manner contemplated by the first proviso below, at any time following the first anniversary of the IPO, to the extent that the Company is not eligible to file or maintain a Shelf Registration Statement on Form S-3 as contemplated by Section 2.02(a)(i), any Institutional Investor (such Institutional Investor, the “Initiating Holder”) may, subject to Section 2.11, make a written request to the Company to file a Shelf Registration Statement on Form S-1 (a “Shelf Notice”), which Shelf Notice shall specify the aggregate amount of Registrable Securities of the Initiating Holder to be registered therein and the intended methods of distribution thereof. Following the delivery of a Shelf Notice, the Company (x) shall file promptly (and, in any event, within ninety (90) days following delivery of such Shelf Notice) with the SEC such Shelf Registration Statement relating to the offer and sale of all Registrable Securities requested for inclusion therein by the Initiating Holder and, to the extent requested under Section 2.02(c), the other Holders from time to time in accordance with the methods of distribution elected by such Holders (to the extent permitted in this Section 2.02) and set forth in the Shelf Registration Statement (provided, however, that if a Shelf Notice is delivered prior to the first anniversary of the IPO, the Company shall not be obligated to file (but shall be obligated to prepare) such Shelf Registration Statement prior to the first anniversary of the IPO) and (y) shall use its reasonable best efforts to cause such Shelf Registration Statement to be promptly declared effective under the Securities Act; provided, however, that any such Shelf Registration Statement request

 

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shall be deemed to be, for purposes of Section 2.11, a Demand Registration effected by the Initiating Holder and subject to the limitations set forth therein. If, on the date of any such request (or, in the event of a request that is delivered prior to the first anniversary of the IPO, on the date following the first anniversary of the IPO), the Company does not qualify to file a Shelf Registration Statement under the Securities Act, the provisions of this Section 2.02 shall not apply, and the provisions of Section 2.01 shall apply instead.

 

(b)                                 Continued Effectiveness. The Company shall use its reasonable best efforts to keep any Shelf Registration Statement filed pursuant to Section 2.02(a) continuously effective under the Securities Act in order to permit the Prospectus forming a part thereof to be usable by Shelf Holders until the earliest of (i) the date as of which all Registrable Securities have been sold pursuant to the Shelf Registration Statement or another Registration Statement filed under the Securities Act (but in no event prior to the applicable period referred to in Section 4(3) of the Securities Act and Rule 174 thereunder), (ii) the date as of which each of the Shelf Holders is permitted to sell its Registrable Securities without Registration pursuant to Rule 144 without volume limitation or other restrictions on transfer thereunder and (iii) such shorter period as the Institutional Investors with respect to such Shelf Registration shall agree in writing (such period of effectiveness, the “Shelf Period”). Subject to Section 2.02(d), the Company shall not be deemed to have used its reasonable best efforts to keep the Shelf Registration Statement effective during the Shelf Period if the Company voluntarily takes any action or omits to take any action that would result in Shelf Holders not being able to offer and sell any Registrable Securities pursuant to such Shelf Registration Statement during the Shelf Period, unless such action or omission is (x) a Shelf Suspension permitted pursuant to Section 2.02(d) or (y) required by applicable law, rule or regulation.

 

(c)                                  Company Notices. Promptly upon delivery of any Shelf Notice pursuant to Section 2.02(a)(ii) (but in no event more than five (5) Business Days thereafter), the Company shall deliver a written notice of such Shelf Notice to the Investors (other than the Initiating Holder) and the Company shall include in such Shelf Registration all such Registrable Securities of such other Investors which the Company has received a written request for inclusion therein within five (5) Business Days after such written notice is delivered to such other Investors. Promptly after (i) delivery of any such written request by the other Investors or (ii) after delivery of the S-3 Shelf Notices pursuant to Section 2.02(a) (but in no event more than ten (10) Business Days after delivery of the S-3 Shelf Notices or the Shelf Notice, as applicable), the Company shall deliver a written notice of the S-3 Shelf Notices or the Shelf Notice, as applicable, to all Holders other than the Investors (which notice shall specify the Pro Rata Investor Shelf Percentage applicable to such Shelf Registration) and the Company shall include in such Shelf Registration all such Registrable Securities of such Holders which the Company has received written requests for inclusion therein within five (5) Business Days after such written notice is delivered to such Holders (each such Holder delivering such a request and the other Investors if Participating Investors, together with the Initiating Holder, if applicable, a “Shelf Holder”); provided, that, the Company shall not include in such Shelf Registration Registrable Securities of any Holder (other than an Investor) in an amount in excess of such Holder’s Pro Rata Shelf Percentage. If the Company is permitted by applicable law, rule or regulation to add selling stockholders to a Shelf Registration Statement without filing a post-effective amendment, a Holder may request the inclusion of an amount of such Holder’s Registrable Securities not to exceed, in the case of a Holder that is not an Investor, such Holder’s Pro Rata Shelf Percentage in such Shelf Registration Statement at any time or from time to time after the filing of a Shelf Registration Statement, and the Company shall add such Registrable Securities to the Shelf Registration Statement as promptly as reasonably practicable, and such Holder shall be deemed a Shelf Holder.

 

(d)                                 Suspension of Registration. If the Company shall furnish to the Shelf Holders a certificate signed by the Chief Executive Officer or equivalent senior executive officer of the Company

 

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stating that the continued use of a Shelf Registration Statement filed pursuant to Section 2.02(a) would require the Company to make an Adverse Disclosure, then the Company may suspend use of the Shelf Registration Statement (a “Shelf Suspension”); provided, however, that the Company, unless otherwise approved in writing by the Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors, shall not be permitted to exercise aggregate Demand Suspensions and Shelf Suspensions more than twice, or for more than an aggregate of 90 days, in each case, during any 12-month period; provided further that in the event of a Shelf Suspension, such Shelf Suspension shall terminate at such earlier time as the Company would no longer be required to make any Adverse Disclosure. Each Shelf Holder shall keep confidential the fact that a Shelf Suspension is in effect, the certificate referred to above and its contents unless and until otherwise notified by the Company, except (A) for disclosure to such Shelf Holder’s employees, agents and professional advisers who reasonably need to know such information for purposes of assisting the Holder with respect to its investment in the Company Shares and agree to keep it confidential, (B) for disclosures to the extent required in order to comply with reporting obligations to its limited partners or other direct or indirect investors who have agreed to keep such information confidential, (C) if and to the extent such matters are publicly disclosed by the Company or any of its Subsidiaries or any other Person that, to the actual knowledge of such Shelf Holder, was not subject to an obligation or duty of confidentiality to the Company and its Subsidiaries and (D) as required by law, rule or regulation. In the case of a Shelf Suspension, the Holders agree to suspend use of the applicable Prospectus and any Issuer Free Writing Prospectus in connection with any sale or purchase of, or offer to sell or purchase, Registrable Securities, upon delivery of the notice referred to above. The Company shall immediately notify the Shelf Holders upon the termination of any Shelf Suspension, amend or supplement the Prospectus and any Issuer Free Writing Prospectus, if necessary, so it does not contain any untrue statement or omission and furnish to the Shelf Holders such numbers of copies of the Prospectus and any Issuer Free Writing Prospectus as so amended or supplemented as the Shelf Holders may reasonably request. The Company agrees, if necessary, to supplement or make amendments to the Shelf Registration Statement if required by the registration form used by the Company for the applicable Registration or by the instructions applicable to such registration form or by the Securities Act or the rules or regulations promulgated thereunder, or as may reasonably be requested by any Initiating Holder.

 

(e)                                  Shelf Take-Downs.

 

(i)                                     An offering or sale of Registrable Securities pursuant to a Shelf Registration Statement (each, a “Shelf Take-Down”) may be initiated only by an Institutional Investor (an “Initiating Shelf Take-Down Holder”). Except as set forth in Section 2.02(e)(iii) with respect to Marketed Underwritten Shelf Take-Downs, each such Initiating Shelf Take-Down Holder shall not be required to permit the offer and sale of Registrable Securities by other Shelf Holders in connection with any such Shelf Take-Down initiated by such Initiating Shelf Take-Down Holder.

 

(ii)                                  Subject to Section 2.11, if the Initiating Shelf Take-Down Holder elects by written request to the Company, a Shelf Take-Down shall be in the form of an Underwritten Offering (an “Underwritten Shelf Take-Down Notice”) and the Company shall amend or supplement the Shelf Registration Statement for such purpose as soon as practicable. Such Initiating Shelf Take-Down Holder shall have the right to select the managing underwriter or underwriters to administer such offering. The provisions of Section 2.01(g) shall apply to any Underwritten Offering pursuant to this Section 2.02(e).

 

(iii)                               If the plan of distribution set forth in any Underwritten Shelf Take-Down Notice includes a customary “road show” (including an “electronic road show”) or other substantial marketing effort by the Company and the underwriters over a period expected to exceed 48 hours (a “Marketed Underwritten Shelf Take-Down”), promptly upon delivery of such Underwritten Shelf Take-Down Notice (but in no event more than three (3) Business Days thereafter), the Company shall promptly

 

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deliver a written notice (a “Marketed Underwritten Shelf Take-Down Notice”) of such Marketed Underwritten Shelf Take-Down to all Shelf Holders (other than the Initiating Shelf Take-Down Holder), and the Company shall include in such Marketed Underwritten Shelf Take-Down all such Registrable Securities of such Shelf Holders that are Registered on such Shelf Registration Statement for which the Company has received written requests, which requests must specify the aggregate amount of such Registrable Securities of such Holder to be offered and sold pursuant to such Marketed Underwritten Shelf Take-Down, for inclusion therein within three (3) Business Days after the date that such Marketed Underwritten Shelf Take-Down Notice has been delivered.

 

SECTION 2.03.                                            Piggyback Registration.

 

(a)                                 Participation. If the Company at any time proposes to file a Registration Statement with respect to any offering of its equity securities for its own account or for the account of any other Persons (other than (i) a Registration under Section 2.01 or 2.02, it being understood that this clause (i) does not limit the rights of Holders to make written requests pursuant to Sections 2.01 or 2.02 or otherwise limit the applicability thereof, (ii) a Registration Statement on Form S-4 or S-8 (or such other similar successor forms then in effect under the Securities Act), (iii) a registration of securities solely relating to an offering and sale to employees, directors or consultants of the Company or its Subsidiaries pursuant to any employee stock plan or other employee benefit plan arrangement, (iv) a registration not otherwise covered by clause (ii) above pursuant to which the Company is offering to exchange its own securities for other securities, (v) a Registration Statement relating solely to dividend reinvestment or similar plans or (vi) a Shelf Registration Statement pursuant to which only the initial purchasers and subsequent transferees of debt securities of the Company or any of its Subsidiaries that are convertible or exchangeable for Company Shares and that are initially issued pursuant to Rule 144A and/or Regulation S (or any successor provisions) of the Securities Act may resell such notes and sell the Company Shares into which such notes may be converted or exchanged) (a “Company Public Sale”), then, (A) as soon as practicable (but in no event less than 30 days prior to the proposed date of filing of such Registration Statement), the Company shall give written notice of such proposed filing to the Investors, and such notice shall offer each Investor the opportunity to Register under such Registration Statement such number of Registrable Securities as such Investor may request in writing delivered to the Company within ten (10) days of delivery of such written notice by the Company, and (B) subject to Section 2.03(c), as soon as practicable after the expiration of such 10-day period (but in no event less than fifteen (15) days prior to the proposed date of filing of such Registration Statement), the Company shall give written notice of such proposed filing to the Holders (other than the Investors), and such notice shall offer each such Holder the opportunity to Register under such Registration Statement such number of Registrable Securities as such Holder may request in writing within ten (10) days of delivery of such written notice by the Company. Subject to Sections 2.03(b) and (c), the Company shall include in such Registration Statement all such Registrable Securities that are requested by Holders to be included therein in compliance with the immediately foregoing sentence (a “Piggyback Registration”); provided that if at any time after giving written notice of its intention to Register any equity securities and prior to the effective date of the Registration Statement filed in connection with such Piggyback Registration, the Company shall determine for any reason not to Register or to delay Registration of the equity securities covered by such Piggyback Registration, the Company shall give written notice of such determination to each Holder that had requested to Register its, his or her Registrable Securities in such Registration Statement and, thereupon, (1) 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 (but not from its obligation to pay the Registration Expenses in connection therewith, to the extent payable), without prejudice, however, to the rights of the Investors to request that such Registration be effected as a Demand Registration under Section 2.01, and (2) in the case of a determination to delay Registering, in the absence of a request by the Investors to request that such Registration be effected as a Demand Registration under Section 2.01, shall be permitted to delay Registering any Registrable Securities, for the same period as the delay in

 

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Registering the other equity securities covered by such Piggyback Registration. If the offering pursuant to such Registration Statement is to be underwritten, the Company shall so advise the Holders as a part of the written notice given pursuant this Section 2.03(a), and each Holder making a request for a Piggyback Registration pursuant to this Section 2.03(a) must, and the Company shall make such arrangements with the managing underwriter or underwriters so that each such Holder may, participate in such Underwritten Offering, subject to the conditions of Section 2.03(b) and (c). If the offering pursuant to such Registration Statement is to be on any other basis, the Company shall so advise the Holders as part of the written notice given pursuant to this Section 2.03(a), and each Holder making a request for a Piggyback Registration pursuant to this Section 2.03(a) must, and the Company shall make such arrangements so that each such Holder may, participate in such offering on such basis, subject to the conditions of Section 2.03(b) and (c). Each Holder shall be permitted to withdraw all or part of its Registrable Securities from a Piggyback Registration at any time prior to the effectiveness of such Registration Statement.

 

(b)                                 Priority of Piggyback Registration. If the managing underwriter or underwriters of any proposed Underwritten Offering of Registrable Securities included in a Piggyback Registration informs the Company and the Holders that have requested to participate in such Piggyback Registration in writing that, in its or their opinion, the number of securities which such Holders and any other Persons intend to include in such offering exceeds the number which can be sold in such offering without being likely to have a significant adverse effect on the price, timing or distribution of the securities offered or the market for the securities offered, then the securities to be included in such Registration shall be (i) first, in the case of the IPO, 100% of the securities that the Company proposes to sell, and in the case of any other proposed Underwritten Offering, such number of securities that the Company proposes to sell so long as the number of Registrable Securities sold by Investors pursuant to clause (ii) are not reduced below 30% of the total number of securities included in the Underwritten Offering, (ii) second, and in the case of the IPO only if all the securities referred to in clause (i) have been included, the number of Registrable Securities that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect in such Registration (the “Determined Number”), which such Determined Number shall be allocated pro rata among the Investors that have requested to participate in such Registration based on the relative number of Registrable Securities then held by each such Investor (provided that any securities thereby allocated to an Investor that exceed such Investor’s request shall be reallocated among the remaining requesting Investors in like manner) and such Determined Number of Registrable Securities is not reduced below 30% of the total number of securities included in such Underwritten Offering (other than the IPO), (iii) third, and only if all the securities referred to in clause (ii) have been included, the number of Registrable Securities that, in the opinion of such managing underwriter or underwriters, can be sold without having such adverse effect in such Registration, which such number shall be allocated pro rata among the Holders (excluding the Investors) that have requested to participate in such Registration based on the relative number of Registrable Securities then held by each such Holder (provided that any securities thereby allocated to a Holder that exceed such Holder’s request shall be reallocated among the remaining requesting Holders in like manner) and (iv) fourth, and only if all of the Registrable Securities referred to in clause (iii) have been included in such Registration, any other securities eligible for inclusion in such Registration that, in the opinion of the managing underwriter or underwriters, can be sold without having such adverse effect in such Registration.

 

(c)                                  Restrictions on Non-Institutional Investor Holders. Notwithstanding any provisions contained herein, Holders other than the Institutional Investors shall not be able to exercise the right to a Piggyback Registration unless at least one Institutional Investor exercises its rights with respect to such Piggyback Registration.

 

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(d)                                 No Effect on Demand Registrations. No Registration of Registrable Securities effected pursuant to a request under this Section 2.03 shall be deemed to have been effected pursuant to Section 2.01 or 2.02 or shall relieve the Company of its obligations under Section 2.01 or 2.02.

 

SECTION 2.04.                                            Black-out Periods.

 

(a)                                 Black-out Periods for Holders. In the event of a Company Public Sale of the Company’s equity securities in an Underwritten Offering, each of the Holders agrees, if requested by the managing underwriter or underwriters in such Underwritten Offering, not to (1) offer for sale, sell, pledge, or otherwise dispose of (or enter into any transaction or device that is designed to, or could be expected to, result in the disposition by any Person at any time in the future of) any Company Shares (including Company Shares that may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations of the SEC and Company Shares that may be issued upon exercise of any options or warrants) or securities convertible into or exercisable or exchangeable for Company Shares, (2) enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of Company Shares, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Company Shares or other securities, in cash or otherwise, (3) make any demand for or exercise any right or cause to be filed a Registration Statement, including any amendments thereto, with respect to the registration of any Company Shares or securities convertible into or exercisable or exchangeable for Company Shares or any other securities of the Company or (4) publicly disclose the intention to do any of the foregoing, in each case, during the period beginning seven (7) days before and ending 180 days (in the event of the IPO) or 90 days (in the event of any other Company Public Sale) (or, in each case, such other period as may be reasonably requested by the Company or the managing underwriter or underwriters to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in the FINRA rules or any successor provisions or amendments thereto) after the date of the underwriting agreement entered into in connection with such Company Public Sale, to the extent timely notified in writing by the Company or the managing underwriter or underwriters; provided, that no Holder shall be subject to any such black-out period of longer duration than that applicable to any Investor or any director or executive officer who holds Registrable Securities. If requested by the managing underwriter or underwriters of any such Company Public Sale (and, with respect to any such Company Public Sale other than the IPO, if and only if the Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors agree to such request), the Holders shall execute a separate agreement to the foregoing effect. The Company may impose stop-transfer instructions with respect to the Company Shares (or other securities) subject to the foregoing restriction until the end of the period referenced above.

 

(b)                                 Black-out Period for the Company and Others. In the case of an offering of Registrable Securities pursuant to Section 2.01 or 2.02 that is a Marketed Underwritten Offering, the Company and each of the Holders agree, if requested by a Participating Institutional Investor or the managing underwriter or underwriters with respect to such Marketed Underwritten Offering, not to (1) offer for sale, sell, pledge, or otherwise dispose of (or enter into any transaction or device that is designed to, or could be expected to, result in the disposition by any Person at any time in the future of) any Company Shares (including Company Shares that may be deemed to be beneficially owned by the undersigned in accordance with the rules and regulations of the SEC and Company Shares that may be issued upon exercise of any options or warrants) or securities convertible into or exercisable or exchangeable for Company Shares, (2) enter into any swap or other derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of Company Shares, whether any such transaction described in clause (1) or (2) above is to be settled by delivery of Company Shares or other securities, in cash or otherwise, (3) make any demand for or exercise any right or cause to

 

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be filed a Registration Statement, including any amendments thereto, with respect to the registration of any Company Shares or securities convertible into or exercisable or exchangeable for Company Shares or any other securities of the Company or (4) publicly disclose the intention to do any of the foregoing, in each case, during the period beginning seven (7) days before, and ending 90 days (or such lesser period as may be agreed by a Participating Institutional Investor or, if applicable, the managing underwriter or underwriters) (or such other period as may be reasonably requested by a Participating Institutional Investor or the managing underwriter or underwriters to accommodate regulatory restrictions on (i) the publication or other distribution of research reports and (ii) analyst recommendations and opinions, including, but not limited to, the restrictions contained in the FINRA rules or any successor provisions or amendments thereto) after, the date of the underwriting agreement entered into in connection with such Marketed Underwritten Offering, to the extent timely notified in writing by a Participating Institutional Investor or the managing underwriter or underwriters, as the case may be; provided that no Holder shall be subject to any such black-out period of longer duration than that applicable to any Participating Institutional Investor. Notwithstanding the foregoing, the Company may effect a public sale or distribution of securities of the type described above and during the periods described above if such sale or distribution is made pursuant to Registrations on Form S-4 or S-8 or any successor form to such Forms or as part of any Registration of securities for offering and sale to employees, directors or consultants of the Company and its Subsidiaries pursuant to any employee stock plan or other employee benefit plan arrangement. The Company agrees to use its reasonable best efforts to obtain from each of its directors and officers and each other holder of restricted securities of the Company which securities are the same as or similar to the Registrable Securities being Registered, or any restricted securities convertible into or exchangeable or exercisable for any of such securities, an agreement not to effect any public sale or distribution of such securities during any such period referred to in this paragraph, except as part of any such Registration, if permitted. Without limiting the foregoing (but subject to Section 2.07), if after the date hereof the Company or any of its Subsidiaries grants any Person (other than a Holder) any rights to demand or participate in a Registration, the Company shall, and shall cause its Subsidiaries to, provide that the agreement with respect thereto shall include such Person’s agreement to comply with any black-out period required by this Section as if it were a Holder hereunder. If requested by the managing underwriter or underwriters of any such Marketed Underwritten Offering, the Holders shall execute a separate agreement to the foregoing effect. The Company may impose stop-transfer instructions with respect to the Company Shares (or other securities) subject to the foregoing restriction until the end of the period referenced above.

 

SECTION 2.05.                                            Registration Procedures.

 

(a)                                 In connection with the Company’s Registration obligations under Sections 2.01, 2.02 and 2.03 and subject to the applicable terms and conditions set forth therein, the Company shall use its reasonable best efforts to effect such Registration to permit the sale of such Registrable Securities in accordance with the intended method or methods of distribution thereof as expeditiously as reasonably practicable, and in connection therewith the Company shall:

 

(i)                                     prepare the required Registration Statement including all exhibits and financial statements required under the Securities Act to be filed therewith, and before filing a Registration Statement, Prospectus or any Issuer Free Writing Prospectus, or any amendments or supplements thereto, (x) furnish to the underwriters, if any, and the Participating Investors, if any, copies of all documents prepared to be filed, which documents shall be subject to the review of such underwriters and the Participating Investors and their respective counsel and (y) except in the case of a Registration under Section 2.03, not file any Registration Statement or Prospectus or amendments or supplements thereto to which any Participating Investor or the underwriters, if any, shall reasonably object;

 

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(ii)                                  as promptly as practicable file with the SEC a Registration Statement relating to the Registrable Securities including all exhibits and financial statements required by the SEC to be filed therewith, and use its reasonable best efforts to cause such Registration Statement to become effective under the Securities Act as soon as practicable;

 

(iii)                               prepare and file with the SEC such pre- and post-effective amendments to such Registration Statement, supplements to the Prospectus and such amendments or supplements to any Issuer Free Writing Prospectus as may be (x) reasonably requested by any Participating Investor, (y) reasonably requested by any other Participating Holder (to the extent such request relates to information relating to such Participating Holder), or (z) necessary to keep such Registration effective for the period of time required by this Agreement, and comply with provisions of the applicable securities laws with respect to the sale or other disposition of all securities covered by such Registration Statement during such period in accordance with the intended method or methods of disposition by the sellers thereof set forth in such Registration Statement;

 

(iv)                              promptly notify the Participating Holders and the managing underwriter or underwriters, if any, and (if requested) confirm such advice in writing and provide copies of the relevant documents, as soon as reasonably practicable after notice thereof is received by the Company (A) when the applicable Registration Statement or any amendment thereto has been filed or becomes effective, and when the applicable Prospectus or Issuer Free Writing Prospectus or any amendment or supplement thereto has been filed, (B) of any written comments by the SEC or any request by the SEC or any other federal or state governmental authority for amendments or supplements to such Registration Statement, Prospectus or Issuer Free Writing Prospectus or for additional information, (C) of the issuance by the SEC of any stop order suspending the effectiveness of such Registration Statement or any order by the SEC or any other regulatory authority preventing or suspending the use of any preliminary or final Prospectus or any Issuer Free Writing Prospectus or the initiation or threatening of any proceedings for such purposes, (D) if, at any time, the representations and warranties of the Company in any applicable underwriting agreement cease to be true and correct in all material respects, (E) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities for offering or sale in any jurisdiction and (F) of the receipt by the Company of any notification with respect to the initiation or threatening of any proceeding for the suspension of the qualification of the Registrable Securities for offering or sale in any jurisdiction;

 

(v)                                 promptly notify the Participating Holders and the managing underwriter or underwriters, if any, when the Company becomes aware of the happening of any event as a result of which the applicable Registration Statement, the Prospectus included in such Registration Statement (as then in effect) or any Issuer Free Writing Prospectus contains any untrue statement of a material fact or omits to state a material fact necessary to make the statements therein (in the case of such Prospectus, any preliminary Prospectus or any Issuer Free Writing Prospectus, in light of the circumstances under which they were made) not misleading, when any Issuer Free Writing Prospectus includes information that may conflict with the information contained in the Registration Statement, or, if for any other reason it shall be necessary during such time period to amend or supplement such Registration Statement, Prospectus or Issuer Free Writing Prospectus in order to comply with the Securities Act and, in either case as promptly as reasonably practicable thereafter, prepare and file with the SEC, and furnish without charge to the Participating Holders and the managing underwriter or underwriters, if any, an amendment or supplement to such Registration Statement, Prospectus or Issuer Free Writing Prospectus which shall correct such misstatement or omission or effect such compliance;

 

(vi)                              use its reasonable best efforts to prevent, or obtain the withdrawal of, any stop order or other order suspending the use of any preliminary or final Prospectus or any Issuer Free Writing Prospectus;

 

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(vii)                           promptly incorporate in a Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment to the applicable Registration Statement such information as the managing underwriter or underwriters and the Participating Investor(s) agree should be included therein relating to the plan of distribution with respect to such Registrable Securities, and make all required filings of such Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment as soon as reasonably practicable after being notified of the matters to be incorporated in such Prospectus supplement, Issuer Free Writing Prospectus or post-effective amendment;

 

(viii)                        furnish to each Participating Holder and each underwriter, if any, without charge, as many conformed copies as such Participating Holder or underwriter may reasonably request of the applicable Registration Statement and any amendment or post-effective amendment thereto, including financial statements and schedules, all documents incorporated therein by reference and all exhibits (including those incorporated by reference);

 

(ix)                              deliver to each Participating Holder and each underwriter, if any, without charge, as many copies of the applicable Prospectus (including each preliminary Prospectus), any Issuer Free Writing Prospectus and any amendment or supplement thereto as such Participating Holder or underwriter may reasonably request (it being understood that the Company consents to the use of such Prospectus, any Issuer Free Writing Prospectus and any amendment or supplement thereto by such Participating Holder and the underwriters, if any, in connection with the offering and sale of the Registrable Securities thereby) and such other documents as such Participating Holder or underwriter may reasonably request in order to facilitate the disposition of the Registrable Securities by such Participating Holder or underwriter;

 

(x)                                 on or prior to the date on which the applicable Registration Statement is declared effective, use its reasonable best efforts to register or qualify, and cooperate with the Participating Holders, the managing underwriter or underwriters, if any, and their respective counsel, in connection with the registration or qualification of such Registrable Securities for offer and sale under the securities or “Blue Sky” laws of each state and other jurisdiction of the United States as any Participating Holder or managing underwriter or underwriters, if any, or their respective counsel reasonably request in writing and do any and all other acts or things reasonably necessary or advisable to keep such registration or qualification in effect for such period as required by Section 2.01(c) or 2.02(b), whichever is applicable, provided that the Company shall not be required to qualify generally to do business in any jurisdiction where it is not then so qualified or to take any action which would subject it to taxation or general service of process in any such jurisdiction where it is not then so subject;

 

(xi)                              cooperate with the Participating Holders and the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold and not bearing any restrictive legends, and enable such Registrable Securities to be in such denominations and registered in such names as the managing underwriters may request at least two (2) Business Days prior to any sale of Registrable Securities to the underwriters;

 

(xii)                           use its reasonable best efforts to cause the Registrable Securities covered by the applicable Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the seller or sellers thereof or the underwriter or underwriters, if any, to consummate the disposition of such Registrable Securities;

 

(xiii)                        not later than the effective date of the applicable Registration Statement, provide a CUSIP number for all Registrable Securities and provide the applicable transfer agent with printed certificates for the Registrable Securities which are in a form eligible for deposit with The Depository Trust Company;

 

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(xiv)                       make such representations and warranties to the Participating Holders and the underwriters or agents, if any, in form, substance and scope as are customarily made by issuers in secondary underwritten public offerings;

 

(xv)                          enter into such customary agreements (including underwriting and indemnification agreements) and take all such other actions as any Participating Investor or the managing underwriter or underwriters, if any, reasonably request in order to expedite or facilitate the registration and disposition of such Registrable Securities;

 

(xvi)                       obtain for delivery to the Participating Holders and to the underwriter or underwriters, if any, an opinion or opinions from counsel for the Company dated the effective date of the Registration Statement or, in the event of an Underwritten Offering, the date of the closing under the underwriting agreement, in customary form, scope and substance, which opinions shall be reasonably satisfactory to such Participating Holders or underwriters, as the case may be, and their respective counsel;

 

(xvii)                    in the case of an Underwritten Offering, obtain for delivery to the Company and the managing underwriter or underwriters, with copies to the Participating Holders, a cold comfort letter from the Company’s independent certified public accountants in customary form and covering such matters of the type customarily covered by cold comfort letters as the managing underwriter or underwriters reasonably request, dated the date of execution of the underwriting agreement and brought down to the closing under the underwriting agreement;

 

(xviii)                 cooperate with each Participating Holder and each underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the FINRA;

 

(xix)                       use its reasonable best efforts to comply with all applicable securities laws and make available to its security holders, as soon as reasonably practicable, an earnings statement satisfying the provisions of Section 11(a) of the Securities Act and the rules and regulations promulgated thereunder;

 

(xx)                          provide and cause to be maintained a transfer agent and registrar for all Registrable Securities covered by the applicable Registration Statement from and after a date not later than the effective date of such Registration Statement;

 

(xxi)                       use its reasonable best efforts to cause all Registrable Securities covered by the applicable Registration Statement to be listed on each securities exchange on which any of the Company Shares are then listed or quoted and on each inter-dealer quotation system on which any of the Company Shares are then quoted;

 

(xxii)                    make available upon reasonable notice at reasonable times and for reasonable periods for inspection by any Participating Investor, by any underwriter participating in any disposition to be effected pursuant to such Registration Statement and by any attorney, accountant or other agent retained by such Participating Investor(s) or any such underwriter, all pertinent financial and other records, pertinent corporate documents and properties of the Company, and cause all of the Company’s officers, directors and employees and the independent public accountants who have certified its financial statements to make themselves available to discuss the business of the Company and to supply all information reasonably requested by any such Person in connection with such Registration Statement as shall be necessary to enable them to exercise their due diligence responsibility; provided, that, any such Person gaining access to information regarding the Company pursuant to this Section

 

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2.05(a)(xxii) shall agree to hold in strict confidence and shall not make any disclosure or use any information regarding the Company that the Company determines in good faith to be confidential, and of which determination such Person is notified, unless (w) the release of such information is requested or required by law or by deposition, interrogatory, requests for information or documents by a governmental entity, subpoena or similar process, (x) such information is or becomes publicly known other than through a breach of this or any other agreement of which such Person has actual knowledge, (y) such information is or becomes available to such Person on a non-confidential basis from a source other than the Company or (z) such information is independently developed by such Person; and

 

(xxiii)                 in the case of an Underwritten Offering, cause the senior executive officers of the Company to participate in the customary “road show” presentations that may be reasonably requested by the managing underwriter or underwriters in any such Underwritten Offering and otherwise to facilitate, cooperate with, and participate in each proposed offering contemplated herein and customary selling efforts related thereto.

 

(b)                                 The Company may require each Participating Holder to furnish to the Company such information regarding the distribution of such securities and such other information relating to such Participating Holder and its ownership of Registrable Securities as the Company may from time to time reasonably request in writing. Each Participating Holder agrees to furnish such information to the Company and to cooperate with the Company as reasonably necessary to enable the Company to comply with the provisions of this Agreement.

 

(c)                                  Each Participating Holder agrees that, upon delivery of any notice by the Company of the happening of any event of the kind described in Section 2.05(a)(iv)(C), (D), or (E) or Section 2.05(a)(v), such Participating Holder will forthwith discontinue disposition of Registrable Securities pursuant to such Registration Statement until (i) such Participating Holder’s receipt of the copies of the supplemented or amended Prospectus or Issuer Free Writing Prospectus contemplated by Section 2.05(a)(v), (ii) such Participating Holder is advised in writing by the Company that the use of the Prospectus or Issuer Free Writing Prospectus, as the case may be, may be resumed, (iii) such Participating Holder is advised in writing by the Company of the termination, expiration or cessation of such order or suspension referenced in Section 2.05(a)(iv)(C) or (E) or (iv) such Participating Holder is advised in writing by the Company that the representations and warranties of the Company in such applicable underwriting agreement are true and correct in all material respects. If so directed by the Company, such Participating Holder shall deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Participating Holder’s possession, of the Prospectus or any Issuer Free Writing Prospectus covering such Registrable Securities current at the time of delivery of such notice. In the event the Company shall give any such notice, the period during which the applicable Registration Statement is required to be maintained effective shall be extended by the number of days during the period from and including the date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration Statement either receives the copies of the supplemented or amended Prospectus or Issuer Free Writing Prospectus contemplated by Section 2.05(a)(v) or is advised in writing by the Company that the use of the Prospectus or Issuer Free Writing Prospectus may be resumed.

 

SECTION 2.06.                                            Underwritten Offerings.

 

(a)                                 Demand and Shelf Registrations. If requested by the underwriters for any Underwritten Offering requested by any Participating Investor pursuant to a Registration under Section 2.01 or Section 2.02, the Company shall enter into an underwriting agreement with such underwriters for such offering, such agreement to be reasonably satisfactory in substance and form to the Company, each Participating Investor and the underwriters, and to contain such representations and warranties by the

 

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Company and such other terms as are generally prevailing in agreements of that type, including indemnities no less favorable to the recipient thereof than those provided in Section 2.09. Each Participating Investor shall cooperate with the Company in the negotiation of such underwriting agreement and shall give consideration to the reasonable suggestions of the Company regarding the form thereof. The Participating Holders shall be parties to such underwriting agreement, which underwriting agreement shall (i) contain such representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such Participating Holders as are customarily made by issuers to selling stockholders in secondary underwritten public offerings and (ii) provide that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also shall be conditions precedent to the obligations of such Participating Holders. Any such Participating Holder shall not be required to make any representations or warranties to or agreements with the Company or the underwriters in connection with such underwriting agreement other than representations, warranties or agreements regarding such Participating Holder, such Participating Holder’s title to the Registrable Securities, such Participating Holder’s authority to sell the Registrable Securities, such Participating Holder’s intended method of distribution, absence of liens with respect to the Registrable Securities, enforceability of the applicable underwriting agreement as against such Participating Holder, receipt of all consents and approvals with respect to the entry into such underwriting agreement and the sale of such Registrable Securities and any other representations required to be made by such Participating Holder under applicable law, rule or regulation, and the aggregate amount of the liability of such Participating Holder in connection with such underwriting agreement shall not exceed such Participating Holder’s net proceeds from such Underwritten Offering.

 

(b)                                 Piggyback Registrations. If the Company proposes to register any of its securities under the Securities Act as contemplated by Section 2.03 and such securities are to be distributed in an Underwritten Offering through one or more underwriters, the Company shall, if requested by any Holder pursuant to Section 2.03 and subject to the provisions of Sections 2.03(b) and (c), use its reasonable best efforts to arrange for such underwriters to include on the same terms and conditions that apply to the other sellers in such Registration all the Registrable Securities to be offered and sold by such Holder among the securities of the Company to be distributed by such underwriters in such Registration. The Participating Holders shall be parties to the underwriting agreement between the Company and such underwriters, which underwriting agreement shall (i) contain such representations and warranties by, and the other agreements on the part of, the Company to and for the benefit of such Participating Holders as are customarily made by issuers to selling stockholders in secondary underwritten public offerings and (ii) provide that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement also shall be conditions precedent to the obligations of such Participating Holders. Any such Participating Holder shall not be required to make any representations or warranties to, or agreements with the Company or the underwriters in connection with such underwriting agreement other than representations, warranties or agreements regarding such Participating Holder, such Participating Holder’s title to the Registrable Securities, such Participating Holder’s authority to sell the Registrable Securities, such Holder’s intended method of distribution, absence of liens with respect to the Registrable Securities, enforceability of the applicable underwriting agreement as against such Participating Holder, receipt of all consents and approvals with respect to the entry into such underwriting agreement and the sale of such Registrable Securities or any other representations required to be made by such Participating Holder under applicable law, rule or regulation, and the aggregate amount of the liability of such Participating Holder in connection with such underwriting agreement shall not exceed such Participating Holder’s net proceeds from such Underwritten Offering.

 

(c)                                  Participation in Underwritten Registrations. Subject to the provisions of Sections 2.06(a) and (b) above, no Person may participate in any Underwritten Offering hereunder unless such Person (i) agrees to sell such Person’s securities on the basis provided in any underwriting arrangements approved by the Persons entitled to approve such arrangements and (ii) completes and executes all

 

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questionnaires, powers of attorney, indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements.

 

(d)                                 Price and Underwriting Discounts. In the case of an Underwritten Offering under Section 2.01 or 2.02, the price, underwriting discount and other financial terms for the Registrable Securities shall be determined by the Institutional Investors holding at least 55% of the Registrable Securities held by all Institutional Investors in such Registration.

 

SECTION 2.07.                                            No Inconsistent Agreements; Additional Rights. The Company is not currently a party to, and shall not hereafter enter into without the prior written consent of the Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors, any agreement with respect to its securities that is inconsistent with the rights granted to the Holders by this Agreement, including allowing any other holder or prospective holder of any securities of the Company (a) registration rights in the nature or substantially in the nature of those set forth in Section 2.01, Section 2.02 or Section 2.03 that would have priority over the Registrable Securities with respect to the inclusion of such securities in any Registration (except to the extent such registration rights are solely related to registrations of the type contemplated by Section 2.03(a)(ii) through (iv)) or (b) demand registration rights in the nature or substantially in the nature of those set forth in Section 2.01 or Section 2.02 that are exercisable prior to such time as the Investors can first exercise their rights under Section 2.01 or Section 2.02.

 

SECTION 2.08.                                            Registration Expenses. All expenses incident to the Company’s performance of or compliance with this Agreement shall be paid by the Company, including (i) all registration and filing fees, and any other fees and expenses associated with filings required to be made with the SEC, FINRA and if applicable, the fees and expenses of any “qualified independent underwriter,” as such term is defined in FINRA Rule 5121 (or any successor provision), and of its counsel, (ii) all fees and expenses in connection with compliance with any securities or “Blue Sky” laws (including fees and disbursements of counsel for the underwriters in connection with “Blue Sky” qualifications of the Registrable Securities), (iii) all printing, duplicating, word processing, messenger, telephone, facsimile and delivery expenses (including expenses of printing certificates for the Registrable Securities in a form eligible for deposit with The Depository Trust Company and of printing Prospectuses and Issuer Free Writing Prospectuses), (iv) all fees and disbursements of counsel for the Company and of all independent certified public accountants of the Company (including the expenses of any special audit and cold comfort letters required by or incident to such performance), (v) Securities Act liability insurance or similar insurance if the Company so desires or the underwriters so require in accordance with then-customary underwriting practice, (vi) all fees and expenses incurred in connection with the listing of Registrable Securities on any securities exchange or quotation of the Registrable Securities on any inter-dealer quotation system, (vii) all applicable rating agency fees with respect to the Registrable Securities, (viii) all reasonable fees and disbursements, not to exceed $25,000, of one legal counsel and one accounting firm as selected by the holders of at least 55% of the Registrable Securities included in such Registration, (ix) any reasonable fees and disbursements of underwriters customarily paid by issuers or sellers of securities, (x) all fees and expenses of any special experts or other Persons retained by the Company in connection with any Registration, (xi) all of the Company’s internal expenses (including all salaries and expenses of its officers and employees performing legal or accounting duties), (xii) all expenses related to the “road-show” for any Underwritten Offering, including all travel, meals and lodging and (xiii) any other fees and disbursements customarily paid by the issuers of securities. All such expenses are referred to herein as “Registration Expenses.” In the event any Demand Registration is withdrawn at the request of a Demand Party or due to the withdrawal of the Registrable Securities of a Demand Party from such registration at the request of such Demand Party, such Demand Party shall reimburse the Company for reasonably documented Registration Expenses up to $25,000. The Company

 

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shall not be required to pay any underwriting discounts and commissions and transfer taxes, if any, attributable to the sale of Registrable Securities.

 

SECTION 2.09.                                            Indemnification.

 

(a)                                 Indemnification by the Company. The Company agrees to indemnify and hold harmless, to the full extent permitted by law, each of the Holders, each of their respective direct or indirect partners, members or shareholders and each of such partner’s, member’s or shareholder’s partners, members or shareholders and, with respect to all of the foregoing Persons, each of their respective Affiliates, employees, directors, officers, trustees or agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective Representatives from and against any and all losses, penalties, judgments, suits, costs, claims, damages, liabilities and expenses, joint or several (including reasonable costs of investigation and legal expenses) (each, a “Loss” and collectively, “Losses”) arising out of or based upon (i) any untrue or alleged untrue statement of a material fact contained in any Registration Statement under which such Registrable Securities were Registered under the Securities Act (including any final, preliminary or summary Prospectus contained therein or any amendment or supplement thereto or any documents incorporated by reference therein), any Issuer Free Writing Prospectus or amendment or supplement thereto, or any other disclosure document produced by or on behalf of the Company or any of its Subsidiaries including reports and other documents filed under the Exchange Act, (ii) any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, preliminary Prospectus or Issuer Free Writing Prospectus, in light of the circumstances under which they were made) not misleading, (iii) any violation or alleged violation by the Company of any federal, state or common law rule or regulation applicable to the Company or any of its Subsidiaries in connection with any such registration, qualification, compliance or sale of Registrable Securities, (iv) any failure to register or qualify Registrable Securities in any state where the Company or its agents have affirmatively undertaken or agreed in writing that the Company (the undertaking of any underwriter being attributed to the Company) will undertake such registration or qualification on behalf of the Holders of such Registrable Securities (provided, that, in such instance the Company shall not be so liable if it has undertaken its reasonable best efforts to so register or qualify such Registrable Securities) or (v) any actions or inactions or proceedings in respect of the foregoing whether or not such indemnified party is a party thereto, and the Company will reimburse, as incurred, each such Holder and each of their respective direct or indirect partners, members or shareholders and each of such partner’s, member’s or shareholder’s partners members or shareholders and, with respect to all of the foregoing Persons, each of their respective Affiliates, employees, directors, officers, trustees or agents and controlling Persons and each of their respective Representatives, for any legal and any other expenses reasonably incurred in connection with investigating or defending any such claim, loss, damage, liability or action; provided, that, the Company shall not be liable to any particular indemnified party to the extent that any such Loss arises out of or is based upon (A) an untrue statement or alleged untrue statement or omission or alleged omission made in any such Registration Statement or other document in reliance upon and in conformity with written information furnished to the Company by such indemnified party expressly for use in the preparation thereof or (B) an untrue statement or omission in a preliminary Prospectus relating to Registrable Securities, if a Prospectus (as then amended or supplemented) that would have cured the defect was furnished to the indemnified party from whom the Person asserting the claim giving rise to such Loss purchased Registrable Securities at least five (5) days prior to the written confirmation of the sale of the Registrable Securities to such Person and a copy of such Prospectus (as amended and supplemented) was not sent or given by or on behalf of such indemnified party to such Person at or prior to the written confirmation of the sale of the Registrable Securities to such Person. This indemnity shall be in addition to any liability the Company may otherwise have. Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such Holder or any indemnified party and shall survive the transfer of such securities by such Holder. The Company shall also indemnify

 

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underwriters, selling brokers, dealer managers and similar securities industry professionals participating in the distribution, their officers and directors and each Person who controls such Persons (within the meaning of the Securities Act and the Exchange Act) to the same extent as provided above with respect to the indemnification of the indemnified parties.

 

(b)                                 Indemnification by the Participating Holders. Each Participating Holder agrees (severally and not jointly) to indemnify and hold harmless, to the fullest extent permitted by law, the Company, its directors and officers and each Person who controls the Company (within the meaning of the Securities Act or the Exchange Act), and each other Holder, each of such other Holder’s respective direct or indirect partners, members or shareholders and each of such partner’s, member’s or shareholder’s partners, members or shareholders and, with respect to all of the foregoing Persons, each of their respective Affiliates, employees, directors, officers, trustees or agents and each Person who controls (within the meaning of the Securities Act or the Exchange Act) such Persons and each of their respective Representatives from and against any Losses resulting from (i) any untrue statement of a material fact in any Registration Statement under which such Registrable Securities were Registered under the Securities Act (including any final, preliminary or summary Prospectus contained therein or any amendment or supplement thereto or any documents incorporated by reference therein) or any Issuer Free Writing Prospectus or amendment or supplement thereto, or (ii) any omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of a Prospectus, preliminary Prospectus or Issuer Free Writing Prospectus, in light of the circumstances under which they were made) not misleading, in each case to the extent, but only to the extent, that such untrue statement or omission is contained in any information furnished in writing by such Holder to the Company specifically for inclusion in such Registration Statement and has not been corrected in a subsequent writing prior to or concurrently with the sale of the Registrable Securities to the Person asserting the claim, in each case to the extent, but only to the extent, that such untrue statement (or alleged untrue statement) or omission (or alleged omission) was made in such Registration Statement, Prospectus, offering circular, Issuer Free Writing Prospectus or other document, in reliance upon and in conformity with written information furnished to the Company by such Holder expressly for use therein. In no event shall the liability of such Holder hereunder be greater in amount than the dollar amount of the net proceeds received by such Holder under the sale of Registrable Securities giving rise to such indemnification obligation.

 

(c)                                  Conduct of Indemnification Proceedings. Any Person entitled to indemnification under this Section 2.09 shall (i) give prompt written notice to the indemnifying party of any claim with respect to which it seeks indemnification (provided, that, any delay or failure to so notify the indemnifying party shall relieve the indemnifying party of its obligations hereunder only to the extent, if at all, that it is actually and materially prejudiced by reason of such delay or failure) and (ii) permit such indemnifying party to assume the defense of such claim with counsel reasonably satisfactory to the indemnified party; provided, that, any Person entitled to indemnification hereunder shall have the right to select and employ separate counsel and to participate in the defense of such claim, but the fees and expenses of such counsel shall be at the expense of such Person unless (A) the indemnifying party has agreed in writing to pay such fees or expenses, (B) the indemnifying party shall have failed to assume the defense of such claim within a reasonable time after delivery of notice of such claim from the Person entitled to indemnification hereunder and employ counsel reasonably satisfactory to such Person, (C) the indemnified party has reasonably concluded (based upon advice of its counsel) that there may be legal defenses available to it or other indemnified parties that are different from or in addition to those available to the indemnifying party, or (D) in the reasonable judgment of any such Person (based upon advice of its counsel) a conflict of interest may exist between such Person and the indemnifying party with respect to such claims (in which case, if the Person notifies the indemnifying party in writing that such Person elects to employ separate counsel at the expense of the indemnifying party, the indemnifying party shall not have the right to assume the defense of such claim on behalf of such Person). If the indemnifying party assumes the defense, the indemnifying party shall not have the right to settle such action, consent to entry

 

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of any judgment or enter into any settlement, in each case without the prior written consent of the indemnified party, unless the entry of such judgment or settlement (i) includes as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of an unconditional release from all liability in respect to such claim or litigation and (ii) does not include a statement as to or an admission of fault, culpability or a failure to act by or on behalf of such indemnified party, and provided, that, any sums payable in connection with such settlement are paid in full by the indemnifying party. If such defense is not assumed by the indemnifying party, the indemnifying party will not be subject to any liability for any settlement made without its prior written consent, but such consent may not be unreasonably withheld. It is understood that the indemnifying party or parties shall not, except as specifically set forth in this Section 2.09(c), in connection with any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees, disbursements or other charges of more than one separate firm admitted to practice in such jurisdiction at any one time unless (x) the employment of more than one counsel has been authorized in writing by the indemnifying party or parties, (y) an indemnified party has reasonably concluded (based on the advice of counsel) that there may be legal defenses available to it that are different from or in addition to those available to the other indemnified parties, or (z) a conflict or potential conflict exists or may exist (based upon advice of counsel to an indemnified party) between such indemnified party and the other indemnified parties, in each of which cases the indemnifying party shall be obligated to pay the reasonable fees and expenses of such additional counsel or counsels.

 

(d)                                 Contribution. If for any reason the indemnification provided for in paragraphs (a) and (b) of this Section 2.09 is unavailable to an indemnified party or insufficient in respect of any Losses referred to therein, then the indemnifying party shall contribute to the amount paid or payable by the indemnified party as a result of such Loss in such proportion as is appropriate to reflect the relative fault of the indemnifying party on the one hand and the indemnified party or parties on the other hand in connection with the acts, statements or omissions that resulted in such losses, as well as any other relevant equitable considerations. In connection with any Registration Statement filed with the SEC by the Company, the relative fault of the indemnifying party on the one hand and the indemnified party on the other hand shall be determined by reference to, among other things, whether any untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the indemnifying party or by the indemnified party and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that it would not be just or equitable if contribution pursuant to this Section 2.09(d) were determined by pro rata allocation or by any other method of allocation that does not take account of the equitable considerations referred to in this Section 2.09(d). No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The amount paid or payable by an indemnified party as a result of the Losses referred to in Sections 2.09(a) and 2.09(b) shall be deemed to include, subject to the limitations set forth above, any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 2.09(d), in connection with any Registration Statement filed by the Company, a Participating Holder shall not be required to contribute any amount in excess of the dollar amount of the net proceeds received by such Holder under the sale of Registrable Securities giving rise to such contribution obligation less any amount paid by such Holders pursuant to Section 2.09(b). If indemnification is available under this Section 2.09, the indemnifying parties shall indemnify each indemnified party to the full extent provided in Sections 2.09(a) and 2.09(b) hereof without regard to the provisions of this Section 2.09(d).

 

(e)                                  No Exclusivity. The remedies provided for in this Section 2.09 are not exclusive and shall not limit any rights or remedies which may be available to any indemnified party at law or in equity or pursuant to any other agreement.

 

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(f)                                   Survival. The indemnities provided in this Section 2.09 shall survive the transfer of any Registrable Securities by such Holder.

 

SECTION 2.10.                                            Rules 144 and 144A and Regulation S. The Company covenants that it will file the reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it will, upon the reasonable request of an Institutional Investor, make publicly available such necessary information for so long as necessary to permit sales pursuant to Rules 144, 144A or Regulation S under the Securities Act), and it will take such further action as any Institutional Investor may reasonably request, all to the extent required from time to time to enable the Holders, following the IPO, to sell Registrable Securities without Registration under the Securities Act within the limitation of the exemptions provided by (i) Rules 144, 144A or Regulation S under the Securities Act, as such Rules may be amended from time to time, or (ii) any similar rule or regulation hereafter adopted by the SEC. Upon the reasonable request of a Holder, the Company will deliver to such Holder a written statement as to whether it has complied with such requirements and, if not, the specifics thereof.

 

SECTION 2.11.                                            Limitation on Registrations and Underwritten Offerings.

 

(a)                                 Notwithstanding the rights and obligations set forth in Sections 2.01 and 2.02, in no event shall the Company be obligated to take any action to effect any Demand Registration at the request of (i) an Institutional Investor (or its Affiliates and Permitted Assignees) after the Company has effected such number of Demand Registrations at the request of the Institutional Investors and their Affiliates and Permitted Assignees equal to the number of Institutional Investor Registration Demands or (ii) an Other Investor (or its Affiliates and Permitted Assignees) after the Company has effected one Demand Registration (including any Short-Form Registration) at the request of one or more of the Other Investors and their Affiliates and Permitted Assignees.

 

(b)                                 Notwithstanding the rights and obligations set forth in Sections 2.01 and 2.02, in no event shall the Company be obligated to take any action to (i) effect more than two (2) Short Form Registrations or Marketed Underwritten Offerings in any 12-month period, (ii) effect any Underwritten Offering unless the Demand Party initiating such Underwritten Offering proposes to sell Registrable Securities in such Underwritten Offering having a reasonably anticipated gross aggregate price (before deduction of underwriter commissions and offering expenses) of at least $20,000,000 or (iii) effect any Demand Registration or Short-Form Registration initiated by an Other Investor if such Other Investor holds less than 25% of the Registrable Securities issued to such Other Investor pursuant to the Securities Purchase Agreements at the time such Other Investor initiates such Demand Registration or Short-Form Registration.

 

(c)                                  For purposes of this Agreement “Institutional Investor Registration Demands” means three (3); provided, however, that with respect to Registrations pursuant to Section 2.02(a), if the Company is eligible to file a Short-Form Registration, such Short Form Registrations (and any Shelf Take-Downs, including any Marketed Underwritten Shelf Take-Downs) shall not be limited and shall not count as one of the three (3) Institutional Investor Registration Demands for purposes of Section 2.11(a).

 

SECTION 2.12.                                            Clear Market. With respect to any Underwritten Offerings of Registrable Securities by an Investor, the Company agrees not to effect (other than pursuant to the Registration applicable to such Underwritten Offering or pursuant to a Special Registration or pursuant to the exercise by another Investor of any of its rights under Section 2.01 or Section 2.02) any public sale or distribution, or to file any Registration Statement (other than pursuant to the Registration applicable to such Underwritten Offering or pursuant to a Special Registration or pursuant to the exercise by an Investor of any of its rights under Section 2.01 or Section 2.02) covering any of its equity securities or

 

26

 

any securities convertible into or exchangeable or exercisable for such securities, during the period not to exceed ten (10) days prior and sixty (60) days following the effective date of such offering or such longer period up to ninety (90) days as may be requested by the managing underwriter for such Underwritten Offering. “Special Registration” means the registration of (A) equity securities and/or options or other rights in respect thereof solely registered on Form S-4 or Form S-8 (or successor form) or (B) shares of equity securities and/or options or other rights in respect thereof to be offered to directors, employees, consultants, customers, lenders or vendors of the Company or its Subsidiaries or in connection with dividend reinvestment plans.

 

SECTION 2.13.                                            In-Kind Distributions. If any Holder seeks to effectuate an in-kind distribution of all or part of its Company Shares to its direct or indirect equityholders, the Company will reasonably cooperate with and assist such Holder, such equityholders and the Company’s transfer agent to facilitate such in-kind distribution in the manner reasonably requested by such Holder (including the delivery of instruction letters by the Company or its counsel to the Company’s transfer agent, the delivery of customary legal opinions by counsel to the Company and the delivery of Company Shares without restrictive legends, to the extent no longer applicable).

 

ARTICLE III

 

MISCELLANEOUS

 

SECTION 3.01.                                            Term. This Agreement shall terminate (a) with respect to all Holders (i) in connection with the consummation of a Change of Control (including any Deemed Liquidation Event (as defined in the Company’s Amended and Restated Certificate of Incorporation)) or (ii) with the prior written consent of the Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors, (b) for those Holders that beneficially own less than three percent (3%) of the Company’s outstanding Company Shares, if all of the Registrable Securities then owned by such Holder could be sold in any ninety (90)-day period pursuant to Rule 144 (assuming for this purpose that such Holder is an Affiliate of the Company), (c) as to any Holder, if all of the Registrable Securities held by such Holder have been sold in a Registration pursuant to the Securities Act or pursuant to an exemption therefrom, or (d) with respect to any Holder that is an officer, director, employee or consultant of the Company or any of its Subsidiaries, on the date on which such Holder ceases to be an employee of the Company or its Subsidiaries. Notwithstanding the foregoing, the provisions of Sections 2.09, 2.10 and 2.13 and all of this Article III shall survive any such termination. Upon the written request of the Company, each Holder agrees to promptly deliver a certificate to the Company setting forth the number of Registrable Securities then beneficially owned by such Holder.

 

SECTION 3.02.                                            Injunctive Relief. It is hereby agreed and acknowledged that it will be impossible to measure in money the damage that would be suffered if the parties fail to comply with any of the obligations herein imposed on them and that in the event of any such failure, an aggrieved Person will be irreparably damaged and will not have an adequate remedy at law. Any such Person shall, therefore, be entitled (in addition to any other remedy to which it may be entitled in law or in equity) to injunctive relief, including specific performance, to enforce such obligations, and if any action should be brought in equity to enforce any of the provisions of this Agreement, none of the parties hereto shall raise the defense that there is an adequate remedy at law.

 

SECTION 3.03.                                            Attorneys’ Fees. In any action or proceeding brought to enforce any provision of this Agreement or where any provision hereof is validly asserted as a defense, the successful party shall, to the extent permitted by applicable law, be entitled to recover reasonable attorneys’ fees in addition to any other available remedy.

 

27

 

SECTION 3.04.                                            Notices. Unless otherwise specified herein, all notices, consents, approvals, reports, designations, requests, waivers, elections and other communications authorized or required to be given pursuant to this Agreement shall be in writing and shall be deemed to have been given (a) when personally delivered, (b) when transmitted via facsimile to the number set out below or on Schedule A or Schedule B, as applicable, if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid), (c) the day following the day (except if not a Business Day then the next Business Day) on which the same has been delivered prepaid to a reputable national overnight air courier service, (d) when transmitted via email (including via attached pdf document) to the email address set out below or on Schedule A or Schedule B, as applicable, if the sender on the same day sends a confirming copy of such notice by a recognized overnight delivery service (charges prepaid) or (e) the third Business Day following the day on which the same is sent by certified or registered mail, postage prepaid, in each case to the respective parties as applicable, at the address, facsimile number or email address set forth on Schedule A or Schedule B, as applicable (or such other address, facsimile number or email address as such Holder may specify by notice to the Company in accordance with this Section 3.04), and the Company at the following address:

 

CrowdStrike Holdings, Inc.

150 Mathilda Place, Suite 300

Sunnyvale, CA 94086

Attention: Chief Executive Officer

 

SECTION 3.05.                                            Publicity and Confidentiality. Each of the parties hereto shall keep confidential this Agreement and the transactions contemplated hereby, and any nonpublic information received pursuant hereto, and shall not disclose, issue any press release or otherwise make any public statement relating hereto or thereto without the prior written consent of the Company and the Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors unless so required by applicable law or any governmental authority; provided that no such written consent shall be required (and each party shall be free to release such information) for disclosures (a) to each party’s partners, members, advisors, employees, agents, accountants, trustee, attorneys, Affiliates and investment vehicles managed or advised by such party or the partners, members, advisors, employees, agents, accountants, trustee or attorneys of such Affiliates or managed or advised investment vehicles, in each case so long as such Persons agree to keep such information confidential or (b) to the extent required by law, rule or regulation.

 

SECTION 3.06.                                            Amendment. The terms and provisions of this Agreement may only be amended, modified or waived at any time and from time to time by a writing executed by the Company and the Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors; provided, that, any amendment, modification or waiver that would affect the rights, benefits or obligations of any Investor shall require the written consent of such Investor only if each of the following is applicable: (i) such amendment, modification or waiver would materially and adversely affect such rights, benefits or obligations of such Investor and (ii) such amendment, modification or waiver would treat such Investor in a materially worse manner than the manner in which such amendment or waiver treats the other Investors.

 

SECTION 3.07.                                            Successors, Assigns and Transferees. The rights and obligations of each party hereto may not be assigned, in whole or in part, without the written consent of (i) the Company and (ii) the Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors; provided, however, that notwithstanding the foregoing, the rights and obligations set forth herein may be assigned, in whole or in part, (a) by any Institutional Investor to any Affiliate of such Institutional Investor, or to any transferee of Registrable Securities that holds (after giving effect to such transfer) in excess of one percent (1%) of the then-outstanding Registrable

 

28

 

Securities, and such transferee shall, with the consent of the transferring Institutional Investor, be treated as an Institutional Investor for all purposes of this Agreement or (b) by any Other Investor to any Permitted Transferee (as such term is defined in the Stockholders Agreement) to whom such Other Investor has transferred Registerable Securities pursuant to the terms and conditions of the Stockholders Agreement, and such transferee shall, with the consent of the transferring Other Investor, be treated as an Other Investor for all purposes of this Agreement (each Person to whom the rights and obligations are assigned in compliance with this Section 3.07 is a “Permitted Assignee” and all such Persons, collectively, are “Permitted Assignees”); provided further, that any such transferee shall only be admitted as a party hereunder upon its, his or her execution and delivery of a joinder agreement, in form and substance acceptable to each Institutional Investor, agreeing to be bound by the terms and conditions of this Agreement as if such Person were a party hereto (together with any other documents the Institutional Investors determine are necessary to make such Person a party hereto), whereupon such Person will be treated as a Holder for all purposes of this Agreement, with the same rights, benefits and obligations hereunder as the transferring Holder with respect to the transferred Registrable Securities (except that if the transferee was a Holder prior to such transfer, such transferee shall have the same rights, benefits and obligations with respect to the such transferred Registrable Securities as were applicable to Registrable Securities held by such transferee prior to such transfer). Nothing herein shall operate to permit a transfer of Registrable Securities otherwise restricted by the Stockholders Agreement or any other agreement to which any Holder may be a party.

 

SECTION 3.08.                                            Binding Effect. Except as otherwise provided in this Agreement, the terms and provisions of this Agreement shall be binding on and inure to the benefit of each of the parties hereto and their respective successors.

 

SECTION 3.09.                                            Third Party Beneficiaries. Nothing in this Agreement, express or implied, is intended or shall be construed to confer upon any Person not a party hereto (other than those Persons entitled to indemnity or contribution under Section 2.09, each of whom shall be a third party beneficiary thereof) any right, remedy or claim under or by virtue of this Agreement.

 

SECTION 3.10.                                            Governing Law; Jurisdiction. THIS AGREEMENT SHALL BE GOVERNED AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF. ANY ACTION OR PROCEEDING AGAINST THE PARTIES RELATING IN ANY WAY TO THIS AGREEMENT MAY BE BROUGHT AND ENFORCED EXCLUSIVELY IN THE COURTS OF THE STATE OF DELAWARE OR (TO THE EXTENT SUBJECT MATTER JURISDICTION EXISTS THEREFOR) THE U.S. DISTRICT COURT FOR THE DISTRICT OF DELAWARE, AND THE PARTIES IRREVOCABLY SUBMIT TO THE JURISDICTION OF BOTH SUCH COURTS IN RESPECT OF ANY SUCH ACTION OR PROCEEDING.

 

SECTION 3.11.                                            Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY WAIVES TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY WITH RESPECT TO ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER OR IN CONNECTION WITH THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY. EACH OF THE PARTIES HEREBY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF THE OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, AS APPLICABLE, BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 3.11.

 

29

 

SECTION 3.12.                                            Severability. If any provision of this Agreement shall be held to be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby.

 

SECTION 3.13.                                            Counterparts. This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, and all of which shall constitute one and the same agreement.

 

SECTION 3.14.                                            Headings. The heading references herein and in the table of contents hereto are for convenience purposes only, do not constitute a part of this Agreement and shall not be deemed to limit or affect any of the provisions hereof.

 

SECTION 3.15.                                            Joinder. Any Person purchasing shares of the Company’s Series E Convertible Preferred Stock or Series E-1 Convertible Preferred Stock in a Closing after the Initial Closing (each as defined in the Series E & E-1 Purchase Agreement) pursuant to the Series E & E-1 Purchase Agreement may become a party to this Agreement by executing a counterpart of this Agreement without any amendment of this Agreement or any consent or approval of any other party; provided that such Person (other than an Institutional Investor or Affiliate thereof) shall be deemed an Other Investor unless provided otherwise by the prior written consent of each Institutional Investor. Any other Person that holds Company Shares may, with the prior written consent of Institutional Investors holding at least 55% of the then-outstanding Registrable Securities held by all Institutional Investors, be admitted as a party to this Agreement upon its execution and delivery of a joinder agreement, in form attached hereto as Exhibit A, whereupon such Person will be treated as a Holder for all purposes of this Agreement; provided that such Person shall not be treated as an Institutional Investor or Other Investor other than with the prior written consent of each Institutional Investor.

 

(Remainder of Page Intentionally Blank)

 

30

 

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

 

 

	
 
    	
CROWDSTRIKE   HOLDINGS, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ George Kurtz
    
	
 
    	
Name: George Kurtz
    
	
 
    	
Title: President and Chief Executive Officer
    

 

(Signature Page to Amended and Restated Registration Rights Agreement)

 

 

	
INSTITUTIONAL INVESTORS:
    	
 
    
	
 
    	
 
    
	
CAPITALG LP
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
CapitalG GP LLC,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Jeremiah Gordon
    	
 
    
	
Name:
    	
Jeremiah Gordon
    	
 
    
	
Title:
    	
General Counsel and   Secretary
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
CAPITALG 2015 LP
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
CapitalG 2015 GP LLC,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Jeremiah Gordon
    	
 
    
	
Name:
    	
Jeremiah Gordon
    	
 
    
	
Title:
    	
General Counsel and   Secretary
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
INSTITUTIONAL VENTURE PARTNERS   XVI, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:    Institutional Venture Management Holdings XVI, LLC
    	
 
    
	
Its:    General Partner
    	
 
    
	
By:    Institutional Venture Management XVI, LLC
    	
 
    
	
Its:    Manager
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Stephen Harrick
    	
 
    
	
 
    	
Managing   Director
    	
 
    
	
 
    	
 
    	
 
    
	
Address:
    	
3000   Sand Hill Road
    	
 
    
	
 
    	
Building   2, Suite 250
    	
 
    
	
 
    	
Menlo   Park, CA  94025
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
GENERAL ATLANTIC (CS), L.P.
    	
 
    
	
 
    	
 
    
	
By:   General Atlantic (SPV) GP, LLC, its General Partner
    	
 
    
	
By:   General Atlantic LLC, its Sole Member
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ J. Frank Brown
    	
 
    
	
Name:
    	
J. Frank Brown
    	
 
    
	
Title:
    	
Managing Director
    	
 
    
				

 

(Signature Page to Amended and Restated Registration Rights Agreement)

 

 

	
INSTITUTIONAL INVESTORS:
    	
 
    
	
 
    	
 
    
	
WARBURG PINCUS PRIVATE EQUITY X, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Warburg Pincus X, L.P.,   its general partner
    	
 
    
	
By:
    	
Warburg Pincus X GP   L.P., its general partner
    	
 
    
	
By:
    	
WPP GP LLC, its general   partner
    	
 
    
	
By:
    	
Warburg Pincus   Partners, L.P., its managing member
    	
 
    
	
By:
    	
Warburg Pincus Partners   GP LLC, its general partner
    	
 
    
	
By:
    	
Warburg   Pincus & Co., its managing member
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Cary Davis
    	
 
    
	
Name:
    	
Cary Davis
    	
 
    
	
Title:
    	
Managing Director
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
WARBURG PINCUS X PARTNERS, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Warburg Pincus X, L.P.,   its general partner
    	
 
    
	
By:
    	
Warburg Pincus X GP   L.P., its general partner
    	
 
    
	
By:
    	
WPP GP LLC, its general   partner
    	
 
    
	
By:
    	
Warburg Pincus   Partners, L.P., its managing member
    	
 
    
	
By:
    	
Warburg Pincus Partners   GP LLC, its general partner
    	
 
    
	
By:
    	
Warburg   Pincus & Co., its managing member
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Cary Davis
    	
 
    
	
Name:
    	
Cary Davis
    	
 
    
	
Title:
    	
Managing Director
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
ACCEL LONDON III L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Accel London Management   Limited,
    	
 
    
	
 
    	
Its Manager
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Kris Allen
    	
 
    
	
Name:
    	
Kris Allen
    	
 
    
	
Title:
    	
Director
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
ACCEL LONDON INVESTORS 2012 L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Accel London Management   Limited,
    	
 
    
	
 
    	
Its Manager
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Kris Allen
    	
 
    
	
Name:
    	
Kris Allen
    	
 
    
	
Title:
    	
Director
    	
 
    

 

(Signature Page to Amended and Restated Registration Rights Agreement)

 

 

	
INSTITUTIONAL INVESTORS:
    	
 
    
	
 
    	
 
    
	
ACCEL GROWTH FUND II L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Accel Growth Fund II   Associates L.L.C.,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Tracy L. Sedlock
    	
 
    
	
 
    	
Attorney-in-Fact
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
ACCEL GROWTH FUND II STRATEGIC PARTNERS L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Accel Growth Fund II   Associates L.L.C.,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Tracy L. Sedlock
    	
 
    
	
 
    	
Attorney-in-Fact
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
ACCEL GROWTH FUND INVESTORS 2013 L.L.C.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Tracy L. Sedlock
    	
 
    
	
 
    	
Attorney-in-Fact
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
ACCEL LEADERS FUND L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
Accel Leaders Fund   Associates L.L.C.,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Tracy L. Sedlock
    	
 
    
	
 
    	
Attorney-in-Fact
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
ACCEL LEADERS FUND INVESTORS 2016 L.L.C.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Tracy L. Sedlock
    	
 
    
	
 
    	
Attorney-in-Fact
    	
 
    
				

 

(Signature Page to Amended and Restated Registration Rights Agreement)

 

 

	
INSTITUTIONAL INVESTORS:
    	
 
    
	
 
    	
 
    
	
MARCH CAPITAL OPPORTUNITY FUND, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
March Capital   Opportunity Fund GP, LLC,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ James Montgomery
    	
 
    
	
Name:
    	
James Montgomery
    	
 
    
	
Title:
    	
Member
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
MARCH CAPITAL OPPORTUNITY FUND II, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
March Capital   Opportunity Fund GP, LLC,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ James Montgomery
    	
 
    
	
Name:
    	
James Montgomery
    	
 
    
	
Title:
    	
Member
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
MARCH CAPITAL PARTNERS FUND I, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
March Capital   Partners GP, LLC,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ James Montgomery
    	
 
    
	
Name:
    	
James Montgomery
    	
 
    
	
Title:
    	
Member
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
MARCH CAPITAL PARTNERS FUND II, L.P.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
March Capital   Partners GP, LLC,
    	
 
    
	
 
    	
Its General Partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ James Montgomery
    	
 
    
	
Name:
    	
James Montgomery
    	
 
    
	
Title:
    	
Member
    	
 
    

 

(Signature Page to Amended and Restated Registration Rights Agreement)

 

 

	
HOLDER:
    	
 
    
	
 
    	
 
    
	
HSBC INVESTMENT BANK HOLDINGS LIMITED
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Oreoluwa Adeyemi
    	
 
    
	
Name:
    	
Oreoluwa Adeyemi
    	
 
    
	
Title:
    	
Attorney
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
JAMES MONTGOMERY FAMILY TRUST
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ James Montgomery
    	
 
    
	
Name:
    	
James Montgomery
    	
 
    
	
Title:
    	
Trustee
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
JAMES MONTGOMERY 2012 FAMILY TRUST
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ James Montgomery
    	
 
    
	
Name:
    	
James Montgomery
    	
 
    
	
Title:
    	
Trustee
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
BAYSIDE INVESTMENTS, GP
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Richard Sandler
    	
 
    
	
Name:
    	
Richard Sandler
    	
 
    
	
Title:
    	
Manager
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
CENTRAL VALLEY ADMINISTRATORS, INC.
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Richard Merkin
    	
 
    
	
Name:
    	
Richard Merkin
    	
 
    
	
Title:
    	
President
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
CLOUD APPS CAPITAL PARTNERS, LP
    	
 
    
	
By: Cloud Apps Capital   Partners GP, LLC, its general partner
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ Matthew Holleran
    	
 
    
	
 
    	
Matthew Holleran,   Managing Member
    	
 
    
				

 

(Signature Page to Amended and Restated Registration Rights Agreement)

 

 

	
HOLDERS:
    	
 
    
	
 
    	
 
    
	
SP   FALCON PARTNERS, LP
    	
 
    
	
 
    	
 
    
	
By:  Its General Partner, Section Partners   Associates III, LLC
    	
 
    
	
 
    	
 
    
	
By:  Its Managing Member, Crowder Ventures Management, LLC
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ David V. Crowder
    	
 
    
	
 
    	
David V. Crowder, President
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
SECTION CAPITAL   SERIES, LP, SOLELY WITH RESPECT TO SERIES FUND III
    	
 
    
	
 
    	
 
    	
 
    
	
By:  Its General Partner,   Section Capital Series LP Associates, LLC
    	
 
    
	
 
    	
 
    	
 
    
	
By:  Its Managing Member, Crowder   Ventures Management, LLC
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/ David V. Crowder
    	
 
    
	
 
    	
David V. Crowder, President
    	
 
    

 

(Signature Page to Amended and Restated Registration Rights Agreement)

 

 

Schedule A

 

INSTITUTIONAL INVESTORS

 

	
HOLDER
    	
 
    	
FOR PURPOSES OF SECTION 3.04, WITH A COPY
   (WHICH SHALL NOT CONSTITUTE NOTICE) TO:
    
	
Warburg Pincus Private Equity X, L.P.

c/o Warburg   Pincus & Co.
   450 Lexington Avenue
   New York, NY 10019
   Attn: Cary Davis
    	
 
    	
Willkie Farr & Gallagher LLP
   787 Seventh Avenue
   New York, NY 10019
   Attention: Steven J. Gartner, Esq.
    
	
 
    	
 
    	
 
    
	
Warburg Pincus X Partners, L.P.

c/o Warburg   Pincus & Co.
   450 Lexington Avenue
   New York, NY 10019
   Attn: Cary Davis
    	
 
    	
Willkie Farr & Gallagher LLP
   787 Seventh Avenue
   New York, NY 10019
   Attention: Steven J. Gartner, Esq.
    
	
 
    	
 
    	
 
    
	
Accel Growth Fund II L.P.

Attn: Sameer Gandhi and   Rich Zamboldi
   Accel Partners
   500 University Avenue
   Palo Alto, CA 94301
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accel Growth Fund II Strategic Partners L.P.

Attn: Sameer Gandhi and   Rich Zamboldi
   Accel Partners
   500 University Avenue
   Palo Alto, CA 94301
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accel Growth Fund Investors 2013 L.L.C.

Attn: Sameer Gandhi and   Rich Zamboldi
   Accel Partners
   500 University Avenue
   Palo Alto, CA 94301
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accel Leaders Fund Investors 2016 L.L.C.

Attn: Sameer Gandhi and   Rich Zamboldi
   Accel Partners
   500 University Avenue
   Palo Alto, CA 94301
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accel Leaders Fund L.P.

Attn: Sameer Gandhi and   Rich Zamboldi
   Accel Partners
   500 University Avenue
   Palo Alto, CA 94301
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Accel London III L.P.

Attn: Rich Zamboldi
   Accel Partners
   500 University Avenue
   Palo Alto, CA 94301
    	
 
    	
Accel Partners
   6th Floor, 1 New Burlington Palace
   London W1S 2HR
   United Kingdom
    

 

 

	
HOLDER
    	
 
    	
FOR PURPOSES OF SECTION 3.04, WITH A COPY
   (WHICH SHALL NOT CONSTITUTE NOTICE) TO:
    
	
Accel London Investors 2012 L.P.

Attn: Rich Zamboldi
   Accel Partners
   500 University Avenue
   Palo Alto, CA 94301
    	
 
    	
Accel Partners
   6th Floor, 1 New Burlington Palace
   London W1S 2HR
   United Kingdom
    
	
 
    	
 
    	
 
    
	
CapitalG 2015 LP

1600 Amphitheatre   Parkway
   Mountain View, CA 94043
   Attention: Jeremiah Gordon
    	
 
    	
Wilmer Cutler Pickering Hale and Dorr LLP 350 South   Grand Avenue, Suite 2100
   Los Angeles, CA 90071
   Attention: Christopher A. Rose
    
	
 
    	
 
    	
 
    
	
CapitalG LP

1600 Amphitheatre   Parkway
   Mountain View, CA 94043
   Attention: Jeremiah Gordon
    	
 
    	
Wilmer Cutler Pickering Hale and Dorr LLP 350 South   Grand Avenue, Suite 2100
   Los Angeles, CA 90071
   Attention: Christopher A. Rose
    
	
 
    	
 
    	
 
    
	
General Atlantic (CS), L.P.

55 East 52nd Street, 33rd Floor
   New York, NY 10055
   Attention: Gordon Cruess
    	
 
    	
Cooley LLP
   101 California Street, 5th Floor
   San Francisco, CA 94111
   Attention: Craig D. Jacoby
    
	
 
    	
 
    	
 
    
	
IVP - Institutional Venture Partners XVI, L.P.

3000 Sand Hill Road
   Building 2, Suite 250
   Menlo Park, CA 94025
    	
 
    	
Cooley LLP
   101 California Street, 5th Floor
   San Francisco, CA 94111
   Attention: Craig D. Jacoby
    
	
 
    	
 
    	
 
    
	
March Capital Opportunity Fund, L.P.

725 Arizona,   Suite 304
   Santa Monica, CA 90401
   Attn: James Montgomery
    	
 
    	
Gibson, Dunn & Crutcher LLP
   333 South Grand Avenue
   Los Angeles, CA 90071-3197
   Attention: Bradford P. Weirick
    
	
 
    	
 
    	
 
    
	
March Capital Opportunity Fund II, L.P.

725 Arizona,   Suite 304
   Santa Monica, CA 90401
   Attn: James Montgomery
    	
 
    	
Gibson, Dunn & Crutcher LLP
   333 South Grand Avenue
   Los Angeles, CA 90071-3197
   Attention: Bradford P. Weirick
    
	
 
    	
 
    	
 
    
	
March Capital Partners Fund I, L.P.

725 Arizona,   Suite 304
   Santa Monica, CA 90401
   Attn: James Montgomery
    	
 
    	
Gibson, Dunn & Crutcher LLP
   333 South Grand Avenue
   Los Angeles, CA 90071-3197
   Attention: Bradford P. Weirick
    
	
 
    	
 
    	
 
    
	
March Capital Partners Fund II, L.P.

725 Arizona,   Suite 304
   Santa Monica, CA 90401
   Attn: James Montgomery
    	
 
    	
Gibson, Dunn & Crutcher LLP
   333 South Grand Avenue
   Los Angeles, CA 90071-3197
   Attention: Bradford P. Weirick
    

 

 

	
HOLDER
    	
 
    	
FOR PURPOSES OF SECTION 3.04, WITH A COPY
   (WHICH SHALL NOT CONSTITUTE NOTICE) TO:
    
	
Rackspace US, Inc.

1 Fanatical Place
   City of Windcrest
   San Antonio, TX 78218
   Attn: Taylor Rhodes, CEO
    	
 
    	
Rackspace US, Inc.
   1 Fanatical Place
   City of Windcrest
   San Antonio, TX 78218
   Attn: Office of the General Counsel
    
	
 
    	
 
    	
 
    
	
Telstra Ventures Pty Ltd

(ACN 125 607 454)
   TV Company Secretary
   c/o Level 41
   242 Exhibition Street
   Melbourne, Victoria
   Australia 3000
    	
 
    	
Gunderson Dettmer Stough Villeneuve   Franklin & Hachigian, LLP
   1200 Seaport Boulevard
   Redwood City, CA 94063
   Attention: Trevor S. Knapp
    

 

 

OTHER INVESTORS

 

	
HOLDER
    	
 
    	
FOR PURPOSES OF SECTION 3.04, WITH A COPY
   (WHICH SHALL NOT CONSTITUTE NOTICE) TO:
    
	
Alexander Kurtz Irrevocable Gift Trust dated   December 14, 2011
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    
	
Allegra Kurtz Irrevocable Gift Trust dated   December 14, 2011
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
    
	
D. Gregg Marston
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    
	
Dmitri Alperovitch
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    
	
Donald Gregg Marston and Marilyn Jane Marston
    Revocable Trust Dated 12/29/2004
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    
	
George Kurtz
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    
	
Kurtz 2009 Spendthrift Trust, Dated 4/2/2009
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    

 

 

Schedule B

 

HOLDERS (OTHER THAN THE INVESTORS)

 

	
HOLDER
    	
 
    	
FOR PURPOSES OF SECTION 3.04, WITH A COPY
   (WHICH SHALL NOT CONSTITUTE NOTICE) TO:
    
	
Arnulf Damerau
    	
 
    	
 
    
	
Avid Park Ventures, LP
   Rob Chandra
   555 Mission Street, Suite #3325
   San Francisco, CA 94105
    	
 
    	
Avid Park Ventures, LP
   Robin White
   555 Bryant Street, Suite #310
   Palo Alto, CA 94301
    
	
Bayside Investments, GP
   1250 Fourth Street, 5th Floor
   Santa Monica, CA 90401
   Attn: Diane Kim
    	
 
    	
 
    
	
Central Valley Administrators, Inc.
   3115 Ocean Front Walk, Suite 301
   Marina del Rey, CA 90292
   Attention: Richard Merkin
    	
 
    	
 
    
	
Clavius Capital LLC
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    
	
Cloud Apps Capital Partners, LP
   Attn: Matt Holleran, General Partner
   1 Sutter Street, Suite 900
   San Francisco, CA 94104
    	
 
    	
 
    
	
Denis O’Leary
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    
	
HSBC Investment Bank Holdings Limited
   8 Canada Square
   London E14 5HQ
   United Kingdom
    	
 
    	
 
    
	
InstantScale XIX LLC
   3021 Via La Selva
   Palos Verdes Estates, CA 90274
    	
 
    	
 
    
	
James Montgomery 2012 Family Trust
    	
 
    	
 
    
	
John Thompson
    	
 
    	
 
    
	
Okapi Ventures II, LP
   1590 S. Coast Hwy, Suite 10
   Laguna Beach, CA 92651
    	
 
    	
 
    

 

 

	
HOLDER
    	
 
    	
FOR PURPOSES OF SECTION 3.04, WITH A COPY
   (WHICH SHALL NOT CONSTITUTE NOTICE) TO:
    
	
Ronnie Wiessbrod
    	
 
    	
 
    
	
Marc vc, LLC
   5106 Braeburn Drive
   Bellaire TX 77401
    	
 
    	
 
    
	
Section 32 Fund 1, LP
   2033 San Elijo Avenue, #565
   Cardiff-by-the-Sea, CA 92007
    	
 
    	
 
    
	
Section Capital Series, LP, solely with   respect to Series Fund III
   Attn.: Dave Crowder
   855 El Camino Real, Bldg. 5, Ste. 316
   Palo Alto, CA 94301
    	
 
    	
 
    
	
SP Falcon Partners, LP
   Attn.: Dave Crowder
   855 El Camino Real, Bldg. 5, Ste. 316
   Palo Alto, CA 94301
    	
 
    	
 
    
	
Stephen E. Schmidt
    	
 
    	
 
    
	
Sven Krasser
    	
 
    	
 
    
	
The Board of Trustees of the Leland Stanford   Junior University (SBST)
   Stanford Management Company
   Attn: Jeffrey Sefa-Boakye
   635 Knight Way
   Stanford, CA 94305-7297
    	
 
    	
 
    
	
TriplePoint Venture Growth BDC Corp.
   2755 Sand Hill Road, Suite 150
   Menlo Park, CA 94025
   Attn: Legal Dept.
    	
 
    	
 
    
	
WS Investment Company, LLC
   650 Page Mill Road
   Palo Alto, CA 94304
    	
 
    	
Wilson Sonsini Goodrich & Rosati, P.C.
   650 Page Mill Road
   Palo Alto, CA 94304
   Attention: Yoichiro Taku
    

 

 

Exhibit A

 

JOINDER AGREEMENT TO REGISTRATION RIGHTS AGREEMENT

 

THIS JOINDER AGREEMENT TO REGISTRATION RIGHTS AGREEMENT (the “Agreement”) is made as of the      day of              by                  , having an address at                              (the “Joining Party”).

 

W I T N E S S E T H

 

WHEREAS, CrowdStrike Holdings, Inc., a Delaware corporation (the “Company”), is a party to that certain Amended and Restated Registration Rights Agreement, dated as of June 21, 2018 (as the same may be amended from time to time, the “Registration Agreement”) (Capitalized terms used but not defined herein shall have the meanings ascribed to them in the Registration Agreement);

 

WHEREAS, the Registration Agreement provides that any Person that holds Company Shares may, with the prior written consent of each Institutional Investor be admitted as a party to the Registration Agreement upon the execution and delivery of a joinder agreement, in form and substance acceptable to the Institutional Investors, agreeing to be bound by the terms and conditions of the Registration Agreement as if such Person were a party thereto, whereupon such Person will be treated as a Holder for all purposes of the Registration Agreement;

 

WHEREAS, the Joining Party desires to become a party to the Registration Agreement to be treated as a Holder thereunder by executing a copy of this Agreement; and

 

WHEREAS, the Joining Party has reviewed the terms of the Registration Agreement and determined that it is desirable and in the Joining Party’s best interests to execute this Joinder Agreement.

 

NOW, THEREFORE, the Joining Party hereby agrees as follows:

 

1.                                      Joinder of Stockholders Agreement.

 

(i)                                     By executing this Joinder Agreement, the Joining Party (a) accepts and agrees to be bound by all of the terms and provisions of the Registration Agreement as if he, she or it were an original signatory thereto, (b) shall be deemed to be, and, subject to clause (ii) below, shall be entitled to all of the rights and subject to all of the obligations of a Holder thereunder and (c) shall be added to either Schedule A or Schedule B, as applicable, of the Registration Agreement.

 

(ii)                                  For the avoidance of doubt, the Joining Party shall not be deemed as an Investor under the terms of the Registration Agreement.

 

2.                                      Representations and Warranties.

 

(i)                                     This Agreement constitutes a valid and binding obligation enforceable against the Joining Party in accordance with its terms.

 

(ii)                                  The Joining Party has received a copy of the Registration Agreement. The Joining Party has read and understands the terms of the Registration Agreement and has been afforded the opportunity to ask questions concerning the Company and the Registration Agreement.

 

 

3.                                      Full Force and Effect. Except as expressly modified by this Agreement, all of the terms, covenants, agreements, conditions and other provisions of the Registration Agreement shall remain in full force and effect in accordance with its terms.

 

4.                                      Notices. All notices provided to the Joining Party shall be sent or delivered to the Joining Party at the address set forth on the signature page hereto unless and until the Company has received written notice from the Joining Party of a changed address.

 

5.                                      Governing Law. This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware applicable to contracts made and to be performed entirely within such state.

 

(Signature page follows)

 

 

IN WITNESS WHEREOF, the Joining Party has executed and delivered this Agreement as of the date first above written.

 

	
 
    	
 
    	
JOINING PARTY
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Address:
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Facsimile:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Resident of the State   of:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Acknowledged and   Accepted:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
CROWDSTRIKE   HOLDINGS, INC.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
 
    	
 
    	
 
    
	
Name:
    	
 
    	
 
    	
 
    
	
Title:Exhibit 4.4

 

THIS WARRANT AND THE SECURITIES ISSUABLE UPON EXERCISE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED (THE “1933 ACT”), OR ANY STATE SECURITIES LAWS.  THEY MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO YOU THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE 1933 ACT, OR ANY APPLICABLE STATE SECURITIES LAWS.

 

PLAIN ENGLISH WARRANT AGREEMENT

 

This is a PLAIN ENGLISH WARRANT AGREEMENT dated December 29, 2016 by and between CROWDSTRIKE HOLDINGS, INC., a Delaware corporation, and TRIPLEPOINT VENTURE GROWTH BDC CORP., a Maryland corporation.

 

The words “We”, “Us”, or “Our” refer to the warrant holder, which is TRIPLEPOINT VENTURE GROWTH BDC CORP.  The words “You” or “Your” refers to the issuer, which is CROWDSTRIKE HOLDINGS, INC., and not to any individual.  The words “the Parties” refers to both TRIPLEPOINT VENTURE GROWTH BDC CORP. and CROWDSTRIKE HOLDINGS, INC.  This Plain English Warrant Agreement may be referred to as the “Warrant Agreement”.

 

The Parties, CrowdStrike, Inc. and CrowdStrike Services, Inc. have entered into a Plain English Growth Capital Loan and Security Agreement dated as of December 29, 2016, the “Loan Agreement”.

 

In consideration of such Loan Agreement, the Parties agree to the following mutual agreements and conditions set forth below:

 

WARRANT INFORMATION

 

	
Effective   Date
   December 29, 2016
    	
 
    	
Warrant   Number
   0987-W-01
    	
 
    	
Loan   Facility Number
   Part 1: 0987-GC-01
    

 

	
Warrant Coverage

Part 1:  $600,000 (1.50% of   $40,000,000)
    	
Number of Shares

Part 1:  132,459
    	
Price Per Share

$4.529715
    	
Type of Stock

Series C Preferred Stock
    

 

OUR CONTACT INFORMATION

 

	
Name
   TriplePoint Venture Growth BDC Corp.
    	
 
    	
Address   For Notices
   2755 Sand Hill Road, Ste. 150
   Menlo Park, CA 94025
    	
 
    	
Contact   Person
   Sajal Srivastava, President
    

 

YOUR CONTACT INFORMATION

 

	
Name
   CrowdStrike Holdings, Inc.
    	
 
    	
Address   For Notices
   15440 Laguna Canyon Road, #250
   Irvine, CA 92618
    	
 
    	
Contact   Person
   Burt Podbere, CFO
    

 

 

1.                                      WHAT YOU AGREE TO GRANT US

 

Part 1: You grant to Us and We are entitled, upon the terms and subject to the conditions set forth in this Warrant Agreement, to purchase from You, at a price per share equal to the Exercise Price, that number of fully paid and non-assessable shares of Your Warrant Stock equal to Six Hundred Thousand Dollars ($600,000), divided by the Exercise Price.

 

The number of shares of Warrant Stock and the Exercise Price of such Warrant Stock are subject to adjustment as provided in Section 4 hereof.

 

For purposes of this Warrant Agreement, the following capitalized terms have the meanings given below:

 

“Exercise Price” means $4.529715.

 

“Warrant Stock” means Your Series C Preferred Stock.

 

The Parties agree that this Warrant Agreement to purchase the Warrant Stock has a fair market value equal to $100 and that $100 of the issue price of the investment will be allocable to the Warrant Agreement and the balance shall be allocable to the Loan Agreement for income tax purposes and the original issue discount on the Loan Agreement shall be considered to be zero.

 

2.                                      WHEN ARE WE ENTITLED TO PURCHASE YOUR WARRANT STOCK.

 

The term of this Warrant Agreement and Our right to purchase Warrant Stock will begin on the Effective Date, and shall be available for the greater of (i) seven (7) years from the Effective Date or (ii) two (2) years from the effective date of Your initial public offering.

 

Notwithstanding the foregoing, Our right to purchase the Warrant Stock shall be automatically and fully exercised via the net issuance method described below (without surrender of the Warrant Agreement) upon the occurrence of a Merger Event, as defined below, with a Person that is not one of Your affiliates, in which Your common stock is exchanged for cash and/or stock that is traded on a recognized public exchange or on the NASDAQ National Market, provided that, upon consummation of the Merger Event, the consideration payable to Us pursuant to such exercise and on account of the Warrant Stock consists of (i) cash or (ii) stock that is traded on a recognized public exchange or on the NASDAQ National Market and the total per share consideration is equal to or greater than two (2) times the aggregate Exercise Price (as adjusted).  No less than ten (10) business days prior to any Merger Event, You shall provide Us with written notice of the proposed Merger Event together with a copy of the executed merger agreement, or other definitive documentation (and all schedules and exhibits thereto) and information concerning Your expected capitalization immediately prior to the Merger Event.  Upon consummation of the Merger Event, You shall promptly provide Us with (a) a copy of any modifications or amendments to the executed merger agreement, (b) any other documents in connection therewith, (c) updated information, if any, concerning Your capitalization immediately prior to the Merger Event, and, (d) upon request, by Us any other information reasonably necessary to an informed evaluation of Our rights under this Agreement.

 

3.                                      HOW WE MAY PURCHASE YOUR WARRANT STOCK.

 

We may exercise Our purchase rights, in whole or in part, at any time, or from time to time, prior to the expiration of the term of this Warrant Agreement, by giving You, except as provided in the last paragraph of this Section 3, a completed and executed Notice of Exercise in the form attached as Exhibit I.  Promptly upon receipt of the Notice of Exercise and in any event no later than twenty-one (21) days after you have received Our Notice of Exercise and payment of the aggregate Exercise Price for the shares purchased, You will issue to Us a certificate for the number of shares of Warrant Stock that We have purchased and You will execute the Acknowledgment of Exercise in the form attached hereto as Exhibit II indicating the number of shares which will be available to Us for future purchases, if any.

 

2

 

We may pay for the Warrant Stock by either (i) cash or check, or (ii) by the net issuance method as determined below.  If We elect the Net Issuance method, You will issue Warrant Stock using the following formula:

 

X = Y(A-B)

A

 

Where:  X =                             the number of shares of Warrant Stock to be issued to Us.

Y =                             the number of shares of Warrant Stock We request to be exercised under this Warrant Agreement.

A =                             the fair market value of one share of Warrant Stock.

B =                             the Exercise Price.

 

For purposes of the above calculation, current fair market value of Warrant Stock shall mean with respect to each share of Warrant Stock:

 

If the exercise is in connection with but not after the initial public offering of Your Common Stock, and if Your registration statement relating to such public offering has been declared effective by the SEC, then the fair market value per share shall be the product of (x) the initial “Price to Public” specified in the final prospectus of the offering and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise;

 

If this Warrant Agreement is exercised after, and not in connection with Your initial public offering, and:

 

·                                          if traded on a securities exchange, the fair market value shall be the product of (x) the average of the closing prices over a five (5) day period ending three (3) days before the day the current fair market value of the securities is being determined and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise; or

 

·                                          if actively traded over-the-counter, the fair market value shall be the product of (x) the average of the closing bid and asked prices quoted on the NASDAQ system (or similar system) over the five (5) day period ending three (3) days before the day the current fair market value of the securities is being determined and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise.

 

If this Warrant Agreement is exercised prior to or after Your initial public offering, and:

 

·                                          Your common stock is not listed on any securities exchange or quoted in the NASDAQ system or the over-the-counter market, the current fair market value of Warrant Stock shall be the product of (x) the fair market value of a share of Your common stock for shares of common stock sold, from authorized but unissued shares), as determined in good faith by Your Board of Directors, and (y) the number of shares of common stock into which each share of Warrant Stock is convertible at the time of such exercise.  Notwithstanding the foregoing, however, if You shall become subject to a merger, acquisition or other consolidation pursuant to which holders of Warrant Stock shall be entitled to receive cash, securities or other property, then the fair market value of the Warrant Stock shall be deemed to be the value received by the holders of the Warrant Stock (on a common equivalent basis) pursuant to such merger or acquisition or other consolidation.

 

During the term of this Warrant Agreement, You will at all times from and after the Effective Date have authorized and reserved a sufficient number of shares of (a) Warrant Stock to provide for the exercise of our rights to purchase Warrant Stock, and (b) common stock to provide for the conversion of the Warrant Stock.

 

If We elect to exercise part of the Warrant Agreement, You will promptly issue to Us an amended Warrant Agreement stating the remaining number of shares that are available.  All other terms and conditions of that amended Warrant Agreement shall be identical to those contained in this Warrant Agreement.

 

3

 

If at the end of the term of this Warrant Agreement, the fair market value of one share of Warrant Stock (or other security issuable upon the exercise hereof) as determined in accordance herewith is greater than the Exercise Price in effect on such date, then this Warrant Agreement shall automatically be deemed on and as of such date to be converted pursuant hereto as to all shares of Warrant Stock (or such other securities) for which it shall not previously have been exercised or converted, and You shall promptly deliver a certificate representing the shares of Warrant Stock (or such other securities) issued upon such conversion to Us.

 

4.                                      WHEN WILL THE NUMBER OF SHARES AND EXERCISE PRICE CHANGE.

 

·                                          If You are Acquired.  If at any time: (i) there is a reorganization of Your stock (other than a reclassification, exchange or subdivision of Your stock otherwise provided for in this Warrant Agreement); (ii) You merge or consolidate with or into another entity, whether or not You are the surviving entity; (iii) You sell or convey, or grant an exclusive license with respect to, all or substantially all of Your assets to any other person; or (iv) there occurs any transaction or series of related transactions that result in the transfer of fifty percent (50%) or more of the outstanding voting power of Your capital stock (each of the foregoing events are referred to as a “Merger Event”), then, as a part of such Merger Event, lawful provision shall be made so that We shall thereafter be entitled to receive, upon exercise of Our rights under this Warrant Agreement, the number of shares of preferred stock or other securities of the successor or surviving person resulting from such Merger Event, that would have been issuable if We had exercised Our rights under this Warrant Agreement immediately prior to the Merger Event.  In any such case, appropriate adjustment (as determined in good faith by Your Board of Directors) shall be made in the application of the provisions of this Warrant Agreement with respect to Our rights and interest after the Merger Event so that the provisions of this Warrant Agreement (including adjustments of the Exercise Price and number of shares of Warrant Stock purchasable) shall be applicable to the greatest extent possible.

 

·                                          If You Reclassify Your Stock.  If at any time You reclassify or subdivide Your securities or otherwise change any of the securities as to which purchase rights under this Warrant Agreement exist into the same or a different number of securities of any other class or classes, this Warrant Agreement will thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities which were subject to the purchase rights under this Warrant Agreement immediately prior to such combination, reclassification, exchange, subdivision or other change.

 

·                                          If You Subdivide or Combine Your Shares.  If at any time You combine or subdivide the Warrant Stock, the Exercise Price will be proportionately decreased in the case of a subdivision, or proportionately increased in the case of a combination.

 

·                                          If You Pay Stock Dividends.  If at any time You pay a dividend payable in, or make any other distribution (except any distribution specifically provided for in the above paragraphs) of the Warrant Stock, then the Exercise Price shall be adjusted, from and after the record date of such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such record date by a fraction (i) the numerator of which shall be the total number of all shares of the Warrant Stock outstanding immediately prior to such dividend or distribution, and (ii) the denominator of which shall be the total number of all shares of the Warrant Stock outstanding immediately after such dividend or distribution.  We will thereafter be entitled to purchase, at the Exercise Price resulting from such adjustment, the number of shares of Warrant Stock (calculated to the nearest whole share) obtained by multiplying the Exercise Price in effect immediately prior to such adjustment by the number of shares of Warrant Stock issuable upon the exercise hereof immediately prior to such adjustment and dividing the product thereof by the Exercise Price resulting from such adjustment.

 

·                                          “Pay to Play” Rights.  In the event that any “pay to play” terms or conditions (i.e. terms or conditions that require a holder of shares of Your preferred stock (the “Preferred Stock”) to purchase securities in a future round of equity financing or else lose the benefit of anti-dilution protections applicable to shares of Preferred Stock or have such shares of Preferred Stock automatically convert into common stock or another class or series of capital stock) in Your Certificate of Incorporation are triggered in connection with any sale or issuance of securities (a “Trigger Event”), then, in each such event the purchase rights under this Warrant Agreement shall automatically adjust to provide Us, upon the later exercise hereof, with the same securities and/or rights that We

 

4

 

would have received had We (x) exercised this Warrant Agreement prior to such Trigger Event, and (y) participated in the applicable equity financing in an amount sufficient to be deemed to have fully participated for purposes of such “pay to play” provision.

 

·                                          If You Change the Antidilution Rights of the Warrant Stock or Issue New Preferred or Convertible Stock.  All antidilution rights applicable to the Warrant Stock purchasable under this Warrant Agreement are as set forth in Your Certificate of Incorporation, as amended through the Effective Date.  You will promptly provide Us with any restatement, amendment, modification of or waiver of any right under Your Certificate of Incorporation.  You will provide Us with copies of any notices that You send to Your stockholders with respect to any issuance of Your stock or other equity security to occur after the Effective Date (other than issuances of stock or equity securities pursuant to customary employee stock plans).

 

5.                                      WE CAN TRANSFER THIS PLAIN ENGLLISH WARRANT AGREEMENT.

 

Subject to the terms and conditions contained in Section 7, We (or any successor transferee) may transfer in whole or in part this Warrant Agreement and all its rights, provided that as a condition of any such transfer, the transferee agrees to be bound by the terms of this Warrant Agreement.  You will record the transfer on Your books when You receive Our Notice of Transfer in the form attached hereto as Exhibit III, and Our payment of all transfer taxes and other governmental charges involved in such transfer.

 

6.                                      REPRESENTATIONS, WARRANTIES, AND COVENANTS FROM YOU.

 

·                                          Reservation of Warrant Stock.  The Warrant Stock issuable upon exercise of Our rights under this Warrant Agreement will be duly and validly reserved and when issued in accordance with the provisions of this Warrant Agreement will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances of any nature whatsoever (other than liens or encumbrances created by or imposed by Us); provided, however, that the Warrant Stock issuable pursuant to this Warrant Agreement may be subject to restrictions on transfer under state and/or Federal securities laws.  Upon Our exercise, You will issue to Us certificates for shares of Warrant Stock without charging Us any tax, or other cost incurred by You in connection with such exercise and the related issuance of shares of Warrant Stock.  You will not be required to pay any tax, which may be payable in respect of any transfer involved and the issuance and delivery of any certificate in a name other than TriplePoint Venture Growth BDC Corp.

 

·                                          Due Authority.  Your execution and delivery of this Warrant Agreement and the performance of Your obligations hereunder, including the issuance to Us of the right to acquire the shares of Warrant Stock, have been duly authorized by all necessary corporate action on Your part and this Warrant Agreement is not inconsistent with Your Certificate of Incorporation or Bylaws, do not contravene any law or governmental rule, regulation or order applicable to it, do not and will not contravene any material provision of, or constitute a material default under, any indenture, mortgage, material contract or other instrument to which You are a party or by which You are bound, and this Warrant Agreement constitutes a legal, valid and binding agreement, enforceable in accordance with its respective terms, subject to laws of general application relating to bankruptcy, insolvency and the relief of debtors and the rules of law or principles at equity governing specific performance, injunctive relief and other equitable remedies.

 

·                                          Consents and Approvals.  No consent or approval of, giving of notice to, registration with, or taking of any other action in respect of any state, Federal or other governmental authority or agency is required with respect to execution, delivery and Your performance of Your obligations under this Warrant Agreement, except for the filing of any required notices pursuant to Federal and state securities laws, which filings will be effective by the times required thereby.

 

·                                          Issued Securities.  All of Your issued and outstanding shares of common stock, Warrant Stock or any other securities have been duly authorized and validly issued and are fully paid and nonassessable.  All outstanding

 

5

 

shares of common stock and Warrant Stock were issued in full compliance with all Federal and state securities laws. In addition as of the Effective Date:

 

Your authorized capital consists of (A) 160,000,000 shares of common stock, of which 39,987,959 shares of common stock are issued and outstanding, and (B) 96,032,021 shares of preferred stock, of which 95,728,744 shares are issued and outstanding.

 

You have reserved 61,216,408 shares of common stock for issuance under Your Stock Incentive Plan, under which 19,926,759 options have been granted and are currently outstanding. Silicon Valley Bank holds a warrant to purchase 170,818 shares of Series B Preferred Stock.  Except as otherwise provided in this Warrant Agreement and as noted above, there are no other options, warrants, conversion privileges or other rights presently outstanding to purchase or otherwise acquire any authorized but unissued shares of Your capital stock or other of Your securities.

 

Except as set forth in the Rights Agreement (as defined below), a true, correct and complete copy of which has been delivered to Us prior to the issuance of this Warrant, Your stockholders do not have preemptive rights to purchase new issuances of Your capital stock.

 

·                                          Other Commitments to Register Securities.  Except as set forth in this Warrant Agreement and the Rights Agreement (as defined below), You are not, pursuant to the terms of any other agreement currently in existence, under any obligation to register under the 1933 Act any of Your presently outstanding securities or any of Your securities which may hereafter be issued.

 

·                                          Exempt Transaction.  Subject to the accuracy of Our representations in Section 7 hereof, the issuance of the Warrant Stock upon exercise of this Warrant Agreement will constitute a transaction exempt from (i) the registration requirements of Section 5 of the 1933 Act, in reliance upon Section 4(2) thereof, and (ii) the qualification requirements of the applicable state securities laws.

 

·                                          Compliance with Rule 144.  Subject to the other restrictions set forth in this Warrant Agreement, We may sell the Warrant Stock issuable hereunder in compliance with Rule 144 promulgated by the Securities and Exchange Commission. Within ten (10) days of Our request, You agree to furnish Us, a written statement confirming Your compliance with the filing requirements of the Securities and Exchange Commission as set forth in such Rule 144, as may be amended.

 

·                                          No Impairment.  You agree not to, by amendment of Your Certificate of Incorporation, by-laws or other organizational or charter documents or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed under this Warrant by You, but shall at all times in good faith assist in carrying out of all the provisions of this Warrant and in taking all such action as may be necessary or appropriate to protect Our rights under this Warrant against impairment.  However, You shall not be deemed to have impaired Our rights if You amend Your Certificate of Incorporation, or the holders of Your preferred stock waive their rights thereunder, in a manner that does not (individually or when considered in the context of any other actions being taken in connection with such amendments or waivers) affect Us in a manner different from the effect that such amendments or waivers have on the rights of other holders of the same series and class as the Warrant Stock; provided, however, that, notwithstanding the foregoing, You shall not impose any restrictions on the transferability or alienability of the Warrant Stock other than in effect as of the Effective Date without the express written consent of Us.

 

7.                                      OUR REPRESENTATIONS AND COVENANTS TO YOU.

 

·                                          Investment Purpose.  The right to acquire Warrant Stock or the Warrant Stock issuable upon exercise of Our rights contained herein and the common stock issuable upon conversion will be acquired for investment purposes and not with a view to the sale or distribution of any part thereof, and We have no present intention of selling or engaging in any public distribution of the same in violation of the 1933 Act.

 

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·                                          Private Issue.  We understand (i) that this Warrant Agreement, the Warrant Stock issuable upon exercise of this Warrant Agreement and the common stock issuable upon conversion of the Warrant Stock are not registered under the 1933 Act or qualified under applicable state securities laws on the ground that the issuance contemplated by this Warrant Agreement will be exempt from the registration and qualifications requirements thereof, and (ii) that Your reliance on such exemption is predicated on the representations set forth in this Section 7.

 

·                                          Disposition of Our Rights.  In no event will We make a disposition of any of Our rights to acquire Warrant Stock or Warrant Stock issuable upon exercise of such rights or the common stock issuable upon conversion of the Warrant Stock unless and until (i) We shall have notified You in writing of the proposed disposition, and (ii) the transferee agrees to be bound in writing to the applicable terms and conditions of this Warrant Agreement, and (iii) if You request, We shall have furnished You with an opinion of counsel satisfactory to You and Your counsel to the effect that (A) appropriate action necessary for compliance with the 1933 Act has been taken, or (B) an exemption from the registration requirements of the 1933 Act is available.  Notwithstanding the foregoing, the restrictions imposed upon the transferability of any of Our rights to acquire Warrant Stock or Warrant Stock issuable on the exercise of such rights or the common stock issuable upon conversion of the Warrant Stock do not apply to transfers from the beneficial owner of any of the aforementioned securities to its nominee or from such nominee to its beneficial owner, and shall terminate as to any particular share of Warrant Stock when (1) such security shall have been effectively registered under the 1933 Act and sold by the holder thereof in accordance with such registration or (2) such security shall have been sold without registration in compliance with Rule 144 under the 1933 Act, or (3) a letter shall have been issued to You at Our request by the staff of the Securities and Exchange Commission or a ruling shall have been issued to You at Our request by such Commission stating that no action shall be recommended by such staff or taken by such Commission, as the case may be, if such security is transferred without registration under the 1933 Act in accordance with the conditions set forth in such letter or ruling and such letter or ruling specifies that no subsequent restrictions on transfer are required.  Whenever the restrictions imposed hereunder shall terminate, as hereinabove provided, the holder of a share of Warrant Stock then outstanding as to which such restrictions have terminated shall be entitled to receive from You, without expense to such holder, one or more new certificates for the Warrant or for such shares of Warrant Stock not bearing any restrictive legend referring to 1933 Act registration or exemption.

 

·                                          Financial Risk.  We have such knowledge and experience in financial and business matters and knowledge of Your business affairs and financial condition as to be capable of evaluating the merits and risks of Our investment, and have the ability to bear the economic risks of Our investment.

 

·                                          Risk of No Registration.  We understand that if You do not register with the Securities and Exchange Commission pursuant to Section 12 of the Securities Exchange Act of 1934 (the “1934 Act”), or file reports pursuant to Section 15(d), of the 1934 Act, or if a registration statement covering the securities under the 1933 Act is not in effect when We desire to sell (i) the rights to purchase Warrant Stock pursuant to this Warrant Agreement, or (ii) the Warrant Stock issuable upon exercise of the right to purchase, or (iii) the common stock issuable upon conversion of the Warrant Stock, We may be required to hold such securities for an indefinite period.  We also understand that any sale of Our right to purchase Warrant Stock or Warrant Stock or common stock issuable upon conversion of the Warrant Stock, which might be made by it in reliance upon Rule 144 under the 1933 Act may be made only in accordance with the terms and conditions of that Rule.

 

·                                          Accredited Investor.  We are an “accredited investor” within the meaning of the Securities and Exchange Rule 501 of Regulation D of the 1933 Act, as presently in effect.

 

·                                          Market Standoff.  We agree to be bound by Section 2.04 (“Black Out Periods”) of the Amended and Restated Registration Rights Agreement dated as of June 11, 2015, by and among You and the investors party thereto (as amended from time to time, the “Rights Agreement”).  We also agree to sign the form of lock-up letter requested by Your underwriters in Your initial public offering, provided all other stockholders bound by the market stand-off language in the Rights Agreement are similarly bound.  Notwithstanding the foregoing, in no event shall such market stand-off provisions or lock-up letter restrict Our ability to exercise Our purchase rights

 

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under this Warrant Agreement, including the transfer of Common Stock to You solely to satisfy the exercise price pursuant to the Net Issuance Method.

 

8.                                      NOTICES YOU AGREE TO PROVIDE US.

 

You agree to give Us at least ten (10) days prior written notice of the following events:

 

·                                          If You pay a Dividend or distribution declaration upon Your stock.

 

·                                          If You offer for subscription pro-rata to the existing stockholders additional stock or other equity rights.

 

·                                          If You consummate or sign definitive documents providing for a Merger Event.

 

·                                          If You consummate an initial public offering.

 

·                                          If You dissolve or liquidate.

 

All notices in this Section must set forth details of the event, how the event adjusts either Our number of shares or Our Exercise Price and the method used for such adjustment.

 

No less than ten (10) business days prior to any Merger Event, You shall provide Us with written notice of the proposed Merger Event together with a copy of the executed merger agreement, or other definitive documentation (and all schedules and exhibits thereto) and information concerning Your expected capitalization immediately prior to the Merger Event.  Upon consummation of the Merger Event, You shall promptly provide Us with (a) a copy of any modifications or amendments to the executed merger agreement, (b) any other documents in connection therewith, (c) updated information, if any, concerning Your capitalization immediately prior to the Merger Event, and, (d) upon request, by Us any other information reasonably necessary to an informed evaluation of Our rights under this Warrant Agreement.

 

Timely Notice.  Your failure to timely provide such notice required above shall entitle Us to retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by Us.

 

9.                                      DOCUMENTS YOU WILL PROVIDE US.

 

Upon signing this Warrant Agreement You will provide Us with:

 

·                                          Executed originals of this Warrant Agreement, and all other documents and instruments that We may reasonably require

 

·                                          Secretary’s certificate of incumbency and authority

 

·                                          Certified copy of resolutions of Your board of directors approving this Warrant Agreement

 

·                                          Certified copy of Your Certificate of Incorporation and by-laws as amended through the Effective Date

 

·                                          Current Rights Agreement

 

So long as this Warrant Agreement is in effect, You shall provide Us with the following:

 

·                                          Within ten (10) Business Days after the closing of any equity financing, or extension of an existing round of equity financing, occurring after the Effective Date, in which You issue preferred stock or other securities You will provide Us with copies of the fully executed equity financing documents, including without limitation the related stock purchase agreement, investors rights agreement, voting agreement, amended or restated

 

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Certificates of Incorporation, current capitalization table and other related documents.  Notwithstanding any term or condition contained in this Warrant Agreement to the contrary, Your failure to comply with this paragraph shall not constitute a default unless You have not provided the information requested within ten (10) days of Our request.

 

·                                          Within thirty (30) days after completion You shall provide Us with any 409A Valuation Reports or other similar reports prepared for You.  Notwithstanding any term or condition contained in this Warrant Agreement to the contrary, Your failure to comply with this paragraph shall not constitute a default unless You have not provided the information requested within ten (10) days of Our request.

 

·                                          After all obligations under the Loan Agreement have been finally paid in full, within thirty (30) days after the end of each quarter, You will provide Us with (1) an unaudited income statement, statement of cash flows, and an unaudited balance sheet prepared in accordance with GAAP accompanied by a report detailing any material contingencies, and (2) within one hundred eighty (180) days of the end of each fiscal year end, You will provide Us with audited financial statements accompanied by an audit report and an unqualified opinion of the independent certified public accountants.  Notwithstanding any term or condition contained in this Warrant Agreement to the contrary, Your failure to comply with this paragraph shall not constitute a default unless You have not provided the information requested within ten (10) days of Our request.

 

·                                          You shall submit to Us any other documents and other information that We may reasonably request from time to time and are necessary to implement the provisions and purposes of this Warrant Agreement.

 

10.                               REGISTRATION RIGHTS UNDER THE 1933 ACT.

 

The shares of Your common stock into which the Warrant Stock is convertible shall be entitled to “piggyback” and S-3 registration rights on the same terms, conditions, limitations and obligations imposed upon other holders of Your Preferred Stock, all as set forth in the Rights Agreement.  The provisions set forth in the Rights Agreement relating to such registration rights in effect as of the date of this Warrant Agreement may not be amended, modified or waived without Our prior written consent unless such amendment, modification or waiver affects the rights associated with the shares of common stock into which the Warrant Stock is convertible in the same manner as such amendment, modification, or waiver affects the rights associated with all other shares of the same series and class of stock as the Warrant Stock.

 

11.                               OTHER LEGAL PROVISIONS THE PARTIES WILL ABIDE BY.

 

Effective Date.  This Warrant Agreement shall be construed and shall be given effect in all respects as if it had been executed and delivered by the Parties on the date hereof.  This Warrant Agreement shall be binding upon any of the successors or assigns of the Parties.

 

Attorney’s Fees.  In any litigation, arbitration or court proceeding between the Parties relating to this Warrant Agreement, the prevailing party shall be entitled to reasonable attorneys’ fees and expenses and all reasonable costs of proceedings incurred in enforcing this Warrant Agreement.

 

Governing Law.  This Warrant Agreement shall be governed by and construed for all purposes under and in accordance with the laws of the State of California without giving effect to that body of law pertaining to conflicts of laws.

 

Consent to Jurisdiction and Venue.  All judicial proceedings arising in or under or related to this Warrant Agreement may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Warrant Agreement, each party hereto generally and unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of California; and (c) agrees not to assert any defense based on lack of jurisdiction or venue in the aforesaid courts.  Service of process on any party hereto in any action arising out of or relating to this Warrant Agreement shall be effective if given in accordance with the requirements for notice set forth in this Section, and shall be

 

9

 

deemed effective and received as set forth therein.  Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction.

 

Mutual Waiver of Jury Trial; Judicial Reference.  Because disputes arising in connection with complex financial transactions are most quickly and economically resolved by an experienced and expert person and the Parties wish applicable state and federal laws to apply (rather than arbitration rules), the Parties desire that their disputes be resolved by a judge applying such applicable laws.  EACH OF THE PARTIES SPECIFICALLY WAIVES ANY RIGHT THEY MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY YOU AGAINST US OR OUR ASSIGNEE OR BY US OR OUR ASSIGNEE AGAINST YOU WITH RESPECT TO THIS WARRANT AGREEMENT.  IN THE EVENT THAT THE FOREGOING JURY TRIAL WAIVER IS NOT ENFORCEABLE, ALL CLAIMS, INCLUDING ANY AND ALL QUESTIONS OF LAW OR FACT RELATING THERETO, SHALL, AT THE WRITTEN REQUEST OF ANY PARTY, BE DETERMINED BY JUDICIAL REFERENCE PURSUANT TO THE CALIFORNIA CODE OF CIVIL PROCEDURE.  THE PARTIES SHALL MUTUALLY SELECT A SINGLE NEUTRAL REFEREE, WHO SHALL BE A RETIRED STATE OR FEDERAL JUDGE. IN THE EVENT THAT THE PARTIES CANNOT AGREE UPON A REFEREE, THE REFEREE SHALL BE APPOINTED BY THE COURT.  THE REFEREE SHALL REPORT A STATEMENT OF DECISION TO THE COURT. NOTHING IN THIS SECTION SHALL LIMIT THE RIGHT OF ANY PARTY AT ANY TIME TO EXERCISE LAWFUL SELF-HELP REMEDIES, FORECLOSE AGAINST COLLATERAL OR OBTAIN PROVISIONAL REMEDIES.  THE PARTIES SHALL BEAR THE FEES AND EXPENSES OF THE REFEREE EQUALLY UNLESS THE REFEREE ORDERS OTHERWISE.  THE REFEREE SHALL ALSO DETERMINE ALL ISSUES RELATING TO THE APPLICABILITY, INTERPRETATION, AND ENFORCEABILITY OF THIS SECTION.  THE PARTIES ACKNOWLEDGE THAT THE CLAIMS WILL NOT BE ADJUDICATED BY A JURY.  This waiver extends to all such Claims, including Claims that involve persons other than You and Us; Claims that arise out of or are in any way connected to the relationship between You and Us; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, in each case arising out of this Warrant Agreement.

 

Counterparts.  This Warrant 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.

 

Notices.  Any notice required or permitted under this Warrant Agreement shall be given in writing and shall be deemed effectively given upon the earlier of (1) actual receipt or 3 days after mailing if mailed postage prepaid by regular or airmail to Us or You or (2) one day after it is sent by overnight mail via nationally recognized courier or (3) on the same day as sent via confirmed facsimile transmission, provided that the original is sent by personal delivery or mail by the sending party.

 

Remedies.  In the event of any default hereunder, the non-defaulting party may proceed to protect and enforce its rights either by suit in equity and/or by action at law, including but not limited to an action for damages as a result of any such default, and/or an action for specific performance for any default where such party will not have an adequate remedy at law and where damages will not be readily ascertainable.  Each party expressly acknowledges and agrees that there is no adequate remedy at law for any breach of this Warrant Agreement and that in the event of any breach of this Warrant Agreement, the injured party shall be entitled to specific performance of any or all provisions hereof or an injunction prohibiting the other party from continuing to commit any such breach of this Warrant Agreement.

 

Survival.  The representations, warranties, covenants, and conditions of the Parties contained herein or made pursuant to this Warrant Agreement shall survive the execution and delivery of this Warrant Agreement.

 

Severability.  In the event any one or more of the provisions of this Warrant Agreement shall for any reason be held invalid, illegal or unenforceable, the remaining provisions of this Warrant Agreement shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable provision, which comes closest to the intention of the Parties underlying the invalid, illegal or unenforceable provision.

 

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Entire Agreement.  This Warrant Agreement constitutes the entire agreement between the Parties pertaining to the subject matter contained in it and supersedes all prior and contemporaneous agreements, representations and undertakings of the Parties, whether oral or written, with respect to such subject matter.

 

Amendments.  Any provision of this Warrant Agreement may only be amended by a written instrument signed by the Parties.

 

Lost Warrants or Stock Certificates.  You covenant to Us that, upon receipt of evidence reasonably satisfactory to Us of the loss, theft, destruction or mutilation of this Warrant Agreement or any stock certificate and, in the case of any such loss, theft or destruction, upon receipt of an indemnity reasonably satisfactory to You, or in the case of any such mutilation upon surrender and cancellation of such Warrant Agreement or stock certificate, You will make and deliver a new Warrant Agreement or stock certificate, of like tenor, in lieu of the lost, stolen, destroyed or mutilated Warrant Agreement or stock certificate.

 

Rights as Stockholders.  We shall not, as a party to this Warrant Agreement, be entitled to vote or receive dividends or be deemed the holder of Warrant Stock or any of Your other securities which may at any time be issuable upon the exercise hereof for any purpose, nor shall anything contained herein be construed to confer upon Us any of the rights of one of Your stockholders or any right to vote for the election of directors or upon any matter submitted to stockholders at any meeting thereof, or to receive dividends or subscription rights or otherwise until this Warrant Agreement is exercised and the shares purchasable upon the exercise hereof shall have become deliverable, as provided herein.

 

Signatures.  This Warrant Agreement may be executed and delivered by facsimile or transmitted electronically in either Tagged Image Format Files (“TIFF”) or Portable Document Format (“PDF”) and, upon such delivery, the facsimile, TIFF or PDF signature, as applicable, will be deemed to have the same effect as if the original signature had been delivered to the other party.

 

(Signature Page to Follow)

 

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IN WITNESS WHEREOF, each of the Parties have caused this Warrant Agreement to be executed by its officers who are duly authorized as of the Effective Date.

 

	
 
    	
You:
    	
CROWDSTRIKE HOLDINGS, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
Signature:
    	
/s/ George Kurtz
    
	
 
    	
 
    	
 
    
	
 
    	
Print Name:
    	
George Kurtz
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Us:
    	
TRIPLEPOINT VENTURE GROWTH BDC   CORP.
    
	
 
    	
 
    	
 
    
	
 
    	
Signature:
    	
/s/ Sajal Srivastava
    
	
 
    	
 
    	
 
    
	
 
    	
Print Name:
    	
Sajal Srivastava
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
President
    

 

[SIGNATURE PAGE TO WARRANT AGREEMENT 0987-W-01]

 

 

EXHIBIT I

 

NOTICE OF EXERCISE

 

To:                             [                                    ]

 

1.                                      We hereby elect to purchase [              ] shares of the Series [              ] Preferred Stock of [                     ], pursuant to the terms of the Plain English Warrant Agreement dated the [              ] day of [              ], [20    ] (the “Plain English Warrant Agreement”) between You and Us, We hereby tender here payment of the purchase price for such shares in full, together with all applicable transfer taxes, if any.

 

2.                                      Method of Exercise (Please initial the applicable blank)

 

a.                                             The undersigned elects to exercise the Plain English Warrant Agreement by means of a cash payment, and gives You full payment for the purchase price of the shares being purchased, together with all applicable transfer taxes, if any.

 

b.                                             The undersigned elects to exercise the Plain English Warrant Agreement by means of the Net Issuance Exercise method of Section 3 of the Plain English Warrant Agreement.

 

3.                                      In exercising Our rights to purchase the Series [          ] Preferred Stock of [                 ], We hereby confirm and acknowledge the investment representations, warranties and covenants made in Section 7 of the Plain English Warrant Agreement.

 

Please issue a certificate or certificates representing these purchased shares of Series           Preferred Stock in Our name or in such other name as is specified below.

 

	
 
    	
 
    	
 
    
	
 
    	
(Name)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
(Address)
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
US:
    	
TRIPLEPOINT VENTURE GROWTH BDC   CORP.
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Date:
    	
 
    	
 
    
					

 

 

EXHIBIT II

 

ACKNOWLEDGMENT OF EXERCISE

 

[                                                 ], hereby acknowledges receipt of the “Notice of Exercise” from TRIPLEPOINT VENTURE GROWTH BDC CORP., to purchase [              ] shares of the Series [         ] Preferred Stock of [                    ], pursuant to the terms of the Plain English Warrant Agreement, and further acknowledges that [           ] shares remain subject to purchase under the terms of the Plain English Warrant Agreement.

 

	
 
    	
YOU:
    	
CROWDSTRIKE HOLDINGS, INC.
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Date:
    	
 
    	
 
    

 

 

EXHIBIT III

 

TRANSFER NOTICE

 

FOR VALUE RECEIVED, the foregoing Plain English Warrant Agreement and all rights evidenced thereby are hereby transferred and assigned to

 

	
 
    	
 
    
	
(Please Print)
    	
 
    
	
 
    	
 
    
	
Whose address is
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
Dated:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Holder’s Signature:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Holder’s Address:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Transferee’s Signature:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Transferee’s Address:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Signature Guaranteed:
    	
 
    	
 
    
				

 

NOTE:  The signature to this Transfer Notice must correspond with the name as it appears on the face of the Plain English Warrant Agreement, without alteration or enlargement or any change whatever.  Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Plain English Warrant Agreement.

 

By signature hereto, Transferee agrees to be subject to and bound by the terms and conditions of (i) the Plain English Warrant Agreement, and hereby makes and agrees to be bound by the investment representations, warranties and covenants contained in Section 7 thereof and (ii) Section 2.04 (“Black Out Periods”) of the Rights Agreement. Transferee also agrees to execute the form of lock-up letter requested by the underwriters of CrowdStrike Holdings, Inc.’s initial public offering.  Notwithstanding the foregoing, in no event shall such market stand-off provisions or lock-up letter restrict Our ability to exercise Our purchase rights under this Warrant Agreement, including the transfer of Common Stock to You solely to satisfy the exercise price pursuant to the Net Issuance Method.

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