Document:

fs12013a2ex4v_cambridge.htm

Exhibit 4.5

 

WARRANT AGREEMENT

 

Agreement made as of                     , 20  between Cambridge Capital Acquisition Corporation, a Delaware corporation, with offices at 525 South Flagler Drive, Suite 201 West Palm Beach, Florida 33401 (“Company”), and Continental Stock Transfer & Trust Company, a New York corporation, with offices at 17 Battery Place, New York, New York 10004 (“Warrant Agent”).

WHEREAS, the Company has received binding commitments from its sponsors (as defined in the Registration Statement) and/or its designees and EarlyBirdCapital, Inc. (“EBC”)  to purchase up to an aggregate of 472,125 units, each unit (“Unit”) comprised of one share of common stock of the Company, par value $.0001 per share (“Common Stock”), and one warrant to purchase one share of Common Stock for $11.50, subject to adjustment as described herein, and in connection therewith, will issue and deliver up to an aggregate of 472,125 warrants (“Private Warrants”) upon consummation of such private placement (“Private Offering”); and

WHEREAS, the Company is engaged in a public offering (“Public Offering”) of Units and, in connection therewith, will issue and deliver up to 8,050,000 warrants (“Public Warrants”) to the public investors and (ii) 420,000 warrants (underlying unit purchase options) to EBC or its designees (“EBC Warrants” and, together with the Private Warrants and Public Warrants, the “Warrants”); and

WHEREAS, the Company has filed with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-1, No. 333-191868 (“Registration Statement”), for the registration, under the Securities Act of 1933, as amended (“Act”) of, among other securities, the Public Warrants and the shares of Common Stock issuable upon exercise of the Public Warrants; and

WHEREAS, the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

WHEREAS, the Company desires to provide for the form and provisions of the Warrants, the terms upon which they shall be issued and exercised, and the respective rights, limitation of rights, and immunities of the Company, the Warrant Agent, and the holders of the Warrants; and

WHEREAS, all acts and things have been done and performed which are necessary to make the Warrants, when executed on behalf of the Company and countersigned by or on behalf of the Warrant Agent, as provided herein, the valid, binding and legal obligations of the Company, and to authorize the execution and delivery of this Agreement.

  

 

  

 

NOW, THEREFORE, in consideration of the mutual agreements herein contained, the parties hereto agree as follows:

1.           Appointment of Warrant Agent.  The Company hereby appoints the Warrant Agent to act as agent for the Company for the Warrants, and the Warrant Agent hereby accepts such appointment and agrees to perform the same in accordance with the terms and conditions set forth in this Agreement.

2.           Warrants.

2.1.           Form of Warrant.  Each Warrant shall be issued in registered form only, shall be in substantially the form of Exhibit A hereto, the provisions of which are incorporated herein and shall be signed by, or bear the facsimile signature of, the Chairman of the Board or Chief Executive Officer and Treasurer, Secretary or Assistant Secretary of the Company and shall bear a facsimile of the Company’s seal. In the event the person whose facsimile signature has been placed upon any Warrant shall have ceased to serve in the capacity in which such person signed the Warrant before such Warrant is issued, it may be issued with the same effect as if he or she had not ceased to be such at the date of issuance.

2.2.           Effect of Countersignature.  Unless and until countersigned by the Warrant Agent pursuant to this Agreement, a Warrant shall be invalid and of no effect and may not be exercised by the holder thereof.

2.3.           Registration.

2.3.1.           Warrant Register.  The Warrant Agent shall maintain books (“Warrant Register”) for the registration of original issuance and the registration of transfer of the Warrants.  Upon the initial issuance of the Warrants, the Warrant Agent shall issue and register the Warrants in the names of the respective holders thereof in such denominations and otherwise in accordance with instructions delivered to the Warrant Agent by the Company.

2.3.2.           Registered Holder.  Prior to due presentment for registration of transfer of any Warrant, the Company and the Warrant Agent may deem and treat the person in whose name such Warrant shall be registered upon the Warrant Register (“registered holder”) as the absolute owner of such Warrant and of each Warrant represented thereby (notwithstanding any notation of ownership or other writing on the Warrant Certificate made by anyone other than the Company or the Warrant Agent), for the purpose of any exercise thereof, and for all other purposes, and neither the Company nor the Warrant Agent shall be affected by any notice to the contrary.

2.4.           Detachability of Warrants.  The securities comprising the Units will not be separately transferable until the ninetieth (90th) day after the date hereof unless EBC informs the Company of its decision to allow earlier separate trading, but in no event will separate trading of the securities comprising the Units begin until (i) the Company files a Current Report on Form 8-K which includes an audited balance sheet reflecting the receipt by the Company of the gross proceeds of the Public Offering including the proceeds received by the Company from the exercise of the over-allotment option, if the over-allotment option is exercised on the date hereof, and (ii) the Company issues a press release and files a Current Report on Form 8-K announcing when such separate trading shall begin.

  

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2.5           Warrant Attributes.

2.5.1           Private Warrants.  The Private Warrants will be issued in the same form as the Public Warrants but they (i) will be exercisable either for cash or on a cashless basis at the holder’s option pursuant to Section 3.3.1(c) and (ii) will not be redeemable by the Company, in either case as long as such warrants are held by the initial purchasers or their affiliates and permitted transferees (as prescribed in Section 5.6 hereof).  The provisions of this Section 2.5.1 may not be modified, amended or deleted without the prior written consent of EBC.

2.5.2           EBC Warrants.  The EBC Warrants shall have the same terms and be in the same form as the Public Warrants.

3.           Terms and Exercise of Warrants

3.1.           Warrant Price.  Each Warrant shall, when countersigned by the Warrant Agent, entitle the registered holder thereof, subject to the provisions of such Warrant and of this Warrant Agreement, to purchase from the Company the number of shares of Common Stock stated therein, at the price of $11.50 per whole share, subject to the adjustments provided in Section 4 hereof and in the last sentence of this Section 3.1.  The term “Warrant Price” as used in this Warrant Agreement refers to the price per share at which shares of Common Stock may be purchased at the time a Warrant is exercised.  The Company in its sole discretion may lower the Warrant Price at any time prior to the Expiration Date (as defined below) for a period of not less than 10 business days; provided, however, that the Company shall provide at least 10 business days prior written notice of such reduction to registered holders of the Warrants; provided, further, however, that any such reduction shall be applied consistently to all of the Warrants.

3.2.           Duration of Warrants.  A Warrant may be exercised only during the period (“Exercise Period”) commencing on the consummation by the Company of a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization or other similar business combination with one or more businesses or entities (“Business Combination”) (as described more fully in the Registration Statement), and terminating at 5:00 p.m., New York City time on the earlier to occur of (i) five years from the date hereof, (ii) the liquidation of the Company, and (iii) the Redemption Date as provided in Section 6.2 of this Agreement (“Expiration Date”); provided, however, that the exercise of any Warrant shall be subject to the satisfaction of any applicable conditions, as set forth in Section 7.4 below.  Except with respect to the right to receive the Redemption Price (as set forth in Section 6 hereunder), each Warrant not exercised on or before the Expiration Date shall become void, and all rights thereunder and all rights in respect thereof under this Agreement shall cease at the close of business on the Expiration Date.  The Company in its sole discretion may extend the duration of the Warrants by delaying the Expiration Date; provided, however, that the Company will provide written notice to registered holders of the Warrants of such extension of not less than 20 days.

  

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3.3.           Exercise of Warrants.

3.3.1.           Payment.  Subject to the provisions of the Warrant and this Warrant Agreement,  a Warrant, when countersigned by the Warrant Agent, may be exercised by the registered holder thereof by surrendering it, at the office of the Warrant Agent, or at the office of its successor as Warrant Agent, in the Borough of Manhattan, City and State of New York, with the subscription form, as set forth in the Warrant, duly executed, and by paying in full the Warrant Price for each full share of Common Stock as to which the Warrant is exercised and any and all applicable taxes due in connection with the exercise of the Warrant, as follows:

(a)           in cash, good certified check or good bank draft payable to the order of the Company (or as otherwise agreed to by the Company); or

(b)           in the event of redemption pursuant to Section 6 hereof in which the Company’s management has elected to require all holders of Warrants to exercise such Warrants on a “cashless basis,” by surrendering the Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the Warrant Price and the “Fair Market Value” (defined below) by (y) the Fair Market Value. Solely for purposes of this Section 3.3.1(b), the “Fair Market Value” shall mean the average reported last sale price of the Common Stock for the 10 trading days ending on the third trading day prior to the date on which the notice of redemption is sent to holders of Warrant pursuant to Section 6 hereof; or

(c)           with respect to any Private Warrants, so long as such Private Warrants are held by the initial purchasers or their affiliates and permitted transferees (as prescribed in Section 5.6 hereof), by surrendering such Private Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the exercise price of the Warrants and the “Fair Market Value” by (y) the Fair Market Value; provided, however, that no cashless exercise shall be permitted unless the Fair Market Value is higher than the exercise price. Solely for purposes of this Section 3.3.1(c), the “Fair Market Value” shall mean the average reported last sale price of the Common Stock for the 10 trading days ending on the day prior to the Company’s receipt of the applicable exercise notice; or

(d)           in the event the post-effective amendment or registration statement required by Section 7.4 hereof is not effective and current, then during the period beginning on the 91st day after the closing of the Business Combination and ending upon the effectiveness of such post-effective amendment or registration statement, and during any other period after such date of effectiveness when the Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, by surrendering such Warrants for that number of shares of Common Stock equal to the quotient obtained by dividing (x) the product of the number of shares of Common Stock underlying the Warrants, multiplied by the difference between the exercise price of the Warrants and the “Fair Market Value” by (y) the Fair Market Value; provided, however, that no cashless exercise shall be permitted unless the Fair Market Value is higher than the exercise price. Solely for purposes of this Section 3.3.1(d), the “Fair Market Value” shall mean the average reported last sale price of the Common Stock for the 10 trading days ending on the day prior to the date of exercise.

  

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3.3.2.           Issuance of Certificates.  As soon as practicable after the exercise of any Warrant and the clearance of the funds in payment of the Warrant Price (if any), the Company shall issue to the registered holder of such Warrant a certificate or certificates for the number of full shares of Common Stock to which he is entitled, registered in such name or names as may be directed by him, her or it, and if such Warrant shall not have been exercised in full, a new countersigned Warrant for the number of shares as to which such Warrant shall not have been exercised.  Notwithstanding the foregoing, in no event will the Company be required to net cash settle the Warrant exercise.  Warrants may not be exercised by, or securities issued to, any registered holder in any state in which such exercise would be unlawful.

3.3.3.           Valid Issuance.  All shares of Common Stock issued upon the proper exercise of a Warrant in conformity with this Agreement shall be validly issued, fully paid and nonassessable.

3.3.4.           Date of Issuance.  Each person in whose name any such certificate for Common Stock is issued shall for all purposes be deemed to have become the holder of record of such shares on the date on which the Warrant was surrendered and payment of the Warrant Price was made, irrespective of the date of delivery of such certificate, except that, if the date of such surrender and payment is a date when the share transfer books of the Company are closed, such person shall be deemed to have become the holder of such shares at the close of business on the next succeeding date on which the share transfer books are open.

4.           Adjustments.

4.1.           Stock Dividends - Split Ups.  If after the date hereof, the number of outstanding shares of Common Stock is increased by a stock dividend payable in Common Stock, or by a split up of the Common Stock, or other similar event, then, on the effective date of such stock dividend, split up or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be increased in proportion to such increase in outstanding shares of Common Stock.  A rights offering to all holders of the Common Stock entitling holders to purchase Common Stock at a price less than the “Fair Market Value” (as defined below) shall be deemed a stock dividend of a number of shares of Common Stock equal to the product of (i) the number of shares of Common Stock actually sold in such rights offering (or issuable under any other equity securities sold in such rights offering that are convertible into or exercisable for the Common Stock) multiplied by (ii) one (1) minus the quotient of (x) the price per share of Common Stock paid in such rights offering divided by (y) the Fair Market Value.  For purposes of this subsection 4.1, (i) if the rights offering is for securities convertible into or exercisable for the Common Stock, in determining the price payable for the Common Stock, there shall be taken into account any consideration received for such rights, as well as any additional amount payable upon exercise or conversion and (ii) “Fair Market Value” means the volume weighted average price of the Common Stock as reported during the ten (10) trading day period ending on the trading day prior to the first date on which the Common Stock trades on the applicable exchange or in the applicable market, regular way, with the right to receive such rights.

4.2.           Aggregation of Shares.  If after the date hereof, the number of outstanding shares of Common Stock is decreased by a consolidation, combination, reverse share split or reclassification of the Common Stock or other similar event, then, on the effective date of such consolidation, combination, reverse share split, reclassification or similar event, the number of shares of Common Stock issuable on exercise of each Warrant shall be decreased in proportion to such decrease in outstanding shares of Common Stock.

  

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4.3           Extraordinary Dividends.  If the Company, at any time while the Warrants (or rights to purchase the Warrants) are outstanding and unexpired, shall pay a dividend or make a distribution in cash, securities or other assets to the holders of the Common Stock on account of such shares of Common Stock (or other shares of the Company’s capital stock into which the Warrants are convertible), other than (a) as described in subsection 4.1 above, (b) Ordinary Cash Dividends (as defined below), (c) to satisfy the conversion rights of the holders of the Common Stock in connection with a proposed initial Business Combination, (d) as a result of the repurchase of shares of Common Stock by the Company in connection with an initial Business Combination or as otherwise permitted by the Investment Management Trust Agreement between the Company and the Warrant Agent dated of even date herewith or (e) in connection with the Company’s liquidation and the distribution of its assets upon its failure to consummate a Business Combination (any such non-excluded event being referred to herein as an “Extraordinary Dividend”), then the Warrant Price shall be decreased, effective immediately after the effective date of such Extraordinary Dividend, by the amount of cash and the fair market value (as determined by the Company’s board of directors, in good faith) of any securities or other assets paid on each share of the Common Stock in respect of such Extraordinary Dividend. For purposes of this subsection 4.3, “Ordinary Cash Dividends” means any cash dividend or cash distribution which, when combined on a per share basis with the per share amounts of all other cash dividends and cash distributions paid on the Common Stock during the 365-day period ending on the date of declaration of such dividend or distribution (as adjusted to appropriately reflect any of the events referred to in other subsections of this Section 4 and excluding cash dividends or cash distributions that resulted in an adjustment to the Warrant Price or to the number of shares of Common Stock issuable on exercise of each Warrant) does not exceed $0.50 (being 5% of the offering price of the Units in the Offering).

4.4           Adjustments in Exercise Price.  Whenever the number of shares of Common Stock purchasable upon the exercise of the Warrants is adjusted, as provided in Section 4.1 and 4.2 above, the Warrant Price shall be adjusted (to the nearest cent) by multiplying such Warrant Price immediately prior to such adjustment by a fraction (x) the numerator of which shall be the number of shares of Common Stock purchasable upon the exercise of the Warrants immediately prior to such adjustment, and (y) the denominator of which shall be the number of shares of Common Stock so purchasable immediately thereafter.

4.5.           Replacement of Securities upon Reorganization, etc.  In case of any reclassification or reorganization of the outstanding shares of Common Stock (other than a change covered by Section 4.1 or 4.2 hereof or that solely affects the par value of such shares of Common Stock), or in the case of any merger or consolidation of the Company with or into another corporation (other than a consolidation or merger in which the Company is the continuing corporation and that does not result in any reclassification or reorganization of the outstanding shares of Common Stock), or in the case of any sale or conveyance to another corporation or entity of the assets or other property of the Company as an entirety or substantially as an entirety in connection with which the Company is dissolved, the Warrant holders shall thereafter have the right to purchase and receive, upon the basis and upon the terms and conditions specified in the Warrants and in lieu of the shares of Common Stock of the Company immediately theretofore purchasable and receivable upon the exercise of the rights represented thereby, the kind and amount of shares of stock or other securities or property (including cash) receivable upon such reclassification, reorganization, merger or consolidation, or upon a dissolution following any such sale or transfer, that the Warrant holder would have received if such Warrant holder had exercised his, her or its Warrant(s) immediately prior to such event; and if any reclassification also results in a change in shares of Common Stock covered by Section 4.1 or 4.2, then such adjustment shall be made pursuant to Sections 4.1, 4.2, 4.4 and this Section 4.5. The provisions of this Section 4.5 shall similarly apply to successive reclassifications, reorganizations, mergers or consolidations, sales or other transfers.

4.6.           Notices of Changes in Warrant.  Upon every adjustment of the Warrant Price or the number of shares issuable upon exercise of a Warrant, the Company shall give written notice thereof to the Warrant Agent, which notice shall state the Warrant Price resulting from such adjustment and the increase or decrease, if any, in the number of shares purchasable at such price upon the exercise of a Warrant, setting forth in reasonable detail the method of calculation and the facts upon which such calculation is based.  Upon the occurrence of any event specified in Sections 4.1, 4.2, 4.3, 4.4 or 4.5, then, in any such event, the Company shall give written notice to each Warrant holder, at the last address set forth for such holder in the warrant register, of the record date or the effective date of the event.  Failure to give such notice, or any defect therein, shall not affect the legality or validity of such event.

  

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4.7.           No Fractional Shares.  Notwithstanding any provision contained in this Warrant Agreement to the contrary, the Company shall not issue fractional shares upon exercise of Warrants.  If, by reason of any adjustment made pursuant to this Section 4, the holder of any Warrant would be entitled, upon the exercise of such Warrant, to receive a fractional interest in a share, the Company shall, upon such exercise, round up or down to the nearest whole number the number of the shares of Common Stock to be issued to the Warrant holder.

4.8.           Form of Warrant.  The form of Warrant need not be changed because of any adjustment pursuant to this Section 4, and Warrants issued after such adjustment may state the same Warrant Price and the same number of shares as is stated in the Warrants initially issued pursuant to this Agreement; provided, however, that the Company may at any time in its sole discretion make any change in the form of Warrant that the Company may deem appropriate and that does not affect the substance thereof, and any Warrant thereafter issued or countersigned, whether in exchange or substitution for an outstanding Warrant or otherwise, may be in the form as so changed.

4.9           Other Events. In case any event shall occur affecting the Company as to which none of the provisions of preceding subsections of this Section 4 are strictly applicable, but which would require an adjustment to the terms of the Warrants in order to (i) avoid an adverse impact on the Warrants and (ii) effectuate the intent and purpose of this Section 4, then, in each such case, the Company shall appoint a firm of independent public accountants, investment banking or other appraisal firm of recognized national standing, which shall give its opinion as to whether or not any adjustment to the rights represented by the Warrants is necessary to effectuate the intent and purpose of this Section 4 and, if such firm determines that an adjustment is necessary, the terms of such adjustment. The Company shall adjust the terms of the Warrants in a manner that is consistent with any adjustment recommended in such opinion.

5.           Transfer and Exchange of Warrants.

5.1.           Registration of Transfer.  The Warrant Agent shall register the transfer, from time to time, of any outstanding Warrant upon the Warrant Register, upon surrender of such Warrant for transfer, properly endorsed with signatures properly guaranteed and accompanied by appropriate instructions for transfer.  Upon any such transfer, a new Warrant representing an equal aggregate number of Warrants shall be issued and the old Warrant shall be cancelled by the Warrant Agent.  The Warrants so cancelled shall be delivered by the Warrant Agent to the Company from time to time upon request.

5.2.           Procedure for Surrender of Warrants.  Warrants may be surrendered to the Warrant Agent, together with a written request for exchange or transfer, and thereupon the Warrant Agent shall issue in exchange therefor one or more new Warrants as requested by the registered holder of the Warrants so surrendered, representing an equal aggregate number of Warrants; provided, however, that in the event that a Warrant surrendered for transfer bears a restrictive legend, the Warrant Agent shall not cancel such Warrant and issue new Warrants in exchange therefor until the Warrant Agent has received an opinion of counsel for the Company stating that such transfer may be made and indicating whether the new Warrants must also bear a restrictive legend.

5.3.           Fractional Warrants.  The Warrant Agent shall not be required to effect any registration of transfer or exchange which will result in the issuance of a warrant certificate for a fraction of a warrant.

5.4.           Service Charges.  No service charge shall be made for any exchange or registration of transfer of Warrants.

5.5.           Warrant Execution and Countersignature.  The Warrant Agent is hereby authorized to countersign and to deliver, in accordance with the terms of this Agreement, the Warrants required to be issued pursuant to the provisions of this Section 5, and the Company, whenever required by the Warrant Agent, will supply the Warrant Agent with Warrants duly executed on behalf of the Company for such purpose.

  

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5.6.           Private Warrants. The Warrant Agent shall not register any transfer of Private Warrants until after the consummation by the Company of a Business Combination, except for transfers (i) amongst the initial purchasers of the Private Warrants or to officers, directors and employees of the Company and EBC, (ii) if the registered holder is an entity, as a distribution to partners, members or shareholders of the registered holder upon the liquidation and dissolution of the registered holder, (iii) by bona fide gift to a member of the registered holder’s immediate family or to a trust, the beneficiary of which is the registered holder or a member of the registered holder’s immediate family for estate planning purposes, (iv) by virtue of the laws of descent and distribution upon death of the registered holder, (v) pursuant to a qualified domestic relations order, (vi) by private sales at prices no greater than the price at which the warrants were originally purchased, in each case on the condition that prior to such registration for transfer, the Warrant Agent shall be presented with written documentation pursuant to which each transferee or the trustee or legal guardian for such transferee agrees to be bound by the terms of the Subscription Agreement and of the Escrow Agreement among the Company, the holders of Private Warrants and the Warrant Agent.

 

6.           Redemption.

6.1.           Redemption.  Subject to Section 6.4 hereof, not less than all of the outstanding Warrants may be redeemed, at the option of the Company, at any time while they are exercisable and prior to their expiration, at the office of the Warrant Agent, upon the notice referred to in Section 6.2, at the price of $.01 per Warrant (“Redemption Price”), provided that the last sales price of the Common Stock has been at least $17.50 per share (subject to adjustment in accordance with Section 4 hereof), on each of twenty (20) trading days within any thirty (30) trading day period (“30-Day Trading Period”) ending on the third business day prior to the date on which notice of redemption is given and provided further that there is a current registration statement in effect with respect to the shares of Common Stock underlying the Warrants commencing five business days prior to the 30-Day Trading Period and continuing each day thereafter until the Redemption Date (defined below).

6.2.           Date Fixed for, and Notice of, Redemption.  In the event the Company shall elect to redeem all of the Warrants, the Company shall fix a date for the redemption (the “Redemption Date”).  Notice of redemption shall be mailed by first class mail, postage prepaid, by the Company not less than 30 days prior to the Redemption Date to the registered holders of the Warrants to be redeemed at their last addresses as they shall appear on the registration books.  Any notice mailed in the manner herein provided shall be conclusively presumed to have been duly given whether or not the registered holder received such notice.

6.3.           Exercise After Notice of Redemption.  The Warrants may be exercised, for cash (or on a “cashless basis” in accordance with Section 3 of this Agreement) at any time after notice of redemption shall have been given by the Company pursuant to Section 6.2 hereof and prior to the Redemption Date.  In the event the Company determines to require all holders of Warrants to exercise their Warrants on a “cashless basis” pursuant to Section 3.3.1(b), the notice of redemption will contain the information necessary to calculate the number of shares of Common Stock to be received upon exercise of the Warrants, including the “Fair Market Value” in such case. On and after the Redemption Date, the record holder of the Warrants shall have no further rights except to receive, upon surrender of the Warrants, the Redemption Price.

6.4           Exclusion of Certain Warrants. The Company understands that the redemption rights provided for by this Section 6 apply only to outstanding Warrants. To the extent a person holds rights to purchase Warrants, such purchase rights shall not be extinguished by redemption. However, once such purchase rights are exercised, the Company may redeem the Warrants issued upon such exercise provided that the criteria for redemption is met. Additionally, any of the Private Warrants shall not be redeemable by the Company as long as such Private Warrants continue to be held by initial purchasers and affiliates or their permitted transferees (as prescribed in Section 5.6 hereof). However, once such Private Warrants are no longer held by the initial purchasers or their affiliates or permitted transferees, such Private Warrants shall then be redeemable by the Company pursuant to Section 6 hereof.  The provisions of this Section 6.4 may not be modified, amended or deleted without the prior written consent of EBC.

  

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7.           Other Provisions Relating to Rights of Holders of Warrants.

7.1.           No Rights as Shareholder.  A Warrant does not entitle the registered holder thereof to any of the rights of a shareholder of the Company, including, without limitation, the right to receive dividends, or other distributions, exercise any preemptive rights to vote or to consent or to receive notice as shareholders in respect of the meetings of shareholders or the election of directors of the Company or any other matter.

7.2.           Lost, Stolen, Mutilated, or Destroyed Warrants.  If any Warrant is lost, stolen, mutilated, or destroyed, the Company and the Warrant Agent may on such terms as to indemnity or otherwise as they may in their discretion impose (which shall, in the case of a mutilated Warrant, include the surrender thereof), issue a new Warrant of like denomination, tenor, and date as the Warrant so lost, stolen, mutilated, or destroyed.  Any such new Warrant shall constitute a substitute contractual obligation of the Company, whether or not the allegedly lost, stolen, mutilated, or destroyed Warrant shall be at any time enforceable by anyone.

7.3.           Reservation of Common Stock.  The Company shall at all times reserve and keep available a number of its authorized but unissued shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants issued pursuant to this Agreement.

7.4.           Registration of Common Stock.  The Company agrees that as soon as practicable, but in no event later than the closing of a Business Combination, it shall use its best efforts to file with the SEC a post-effective amendment to the Registration Statement, or a new registration statement, for the registration, under the Act, of the shares of Common Stock issuable upon exercise of the Warrants, and it shall use its best efforts to take such action as is necessary to qualify for sale, in those states in which the Warrants were initially offered by the Company, the shares of Common Stock issuable upon exercise of the Warrants.  In either case, the Company will use its best efforts to cause the same to become effective and to maintain the effectiveness of such registration statement until the expiration of the Warrants in accordance with the provisions of this Agreement.  In addition, the Company agrees to use its best efforts to register such securities under the blue sky laws of the states of residence of the exercising warrant holders to the extent an exemption is not available.  If any such post-effective amendment or registration statement has not been declared effective by the 90-day anniversary following the closing of the Business Combination, holders of the Warrants shall have the right, during the period beginning on the 91st day after the closing of the Business Combination and ending upon such post-effective amendment or registration statement being declared effective by the SEC, and during any other period after such date of effectiveness when the Company shall fail to have maintained an effective registration statement covering the shares of Common Stock issuable upon exercise of the Warrants, to exercise such Warrants on a “cashless basis” as determined in accordance with Section 3.3.1(d).  The Company shall provide the Warrant Agent with an opinion of counsel for the Company (which shall be an outside law firm with securities law experience) stating that (i) the issuance of shares of Common Stock upon exercise of the Warrants on a cashless basis in accordance with this Section 7.4 is not required to be registered under the Act and (ii) the shares of Common Stock issued upon such exercise will be freely tradable under U.S. federal securities laws by anyone who is not an affiliate (as such term is defined in Rule 144 under the Act) of the Company and, accordingly, will not be required to bear a restrictive legend.  For the avoidance of any doubt, unless and until all of the Warrants have been exercised on a cashless basis, the Company shall continue to be obligated to comply with its registration obligations under the first three sentences of this Section 7.4.  The provisions of this Section 7.4 may not be modified, amended or deleted without the prior written consent of EBC.

  

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8.           Concerning the Warrant Agent and Other Matters.

8.1.           Payment of Taxes.  The Company will from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares.

8.2.           Resignation, Consolidation, or Merger of Warrant Agent.

8.2.1.           Appointment of Successor Warrant Agent.  The Warrant Agent, or any successor to it hereafter appointed, may resign its duties and be discharged from all further duties and liabilities hereunder after giving sixty (60) days’ notice in writing to the Company.  If the office of the Warrant Agent becomes vacant by resignation or incapacity to act or otherwise, the Company shall appoint in writing a successor Warrant Agent in place of the Warrant Agent.  If the Company shall fail to make such appointment within a period of 30 days after it has been notified in writing of such resignation or incapacity by the Warrant Agent or by the holder of the Warrant (who shall, with such notice, submit his Warrant for inspection by the Company), then the holder of any Warrant may apply to the Supreme Court of the State of New York for the County of New York for the appointment of a successor Warrant Agent at the Company’s cost.  Any successor Warrant Agent, whether appointed by the Company or by such court, shall be a corporation organized and existing under the laws of the State of New York, in good standing and having its principal office in the Borough of Manhattan, City and State of New York, and authorized under such laws to exercise corporate trust powers and subject to supervision or examination by federal or state authority.  After appointment, any successor Warrant Agent shall be vested with all the authority, powers, rights, immunities, duties, and obligations of its predecessor Warrant Agent with like effect as if originally named as Warrant Agent hereunder, without any further act or deed; but if for any reason it becomes necessary or appropriate, the predecessor Warrant Agent shall execute and deliver, at the expense of the Company, an instrument transferring to such successor Warrant Agent all the authority, powers, and rights of such predecessor Warrant Agent hereunder; and upon request of any successor Warrant Agent the Company shall make, execute, acknowledge, and deliver any and all instruments in writing for more fully and effectually vesting in and confirming to such successor Warrant Agent all such authority, powers, rights, immunities, duties, and obligations.

8.2.2.           Notice of Successor Warrant Agent.  In the event a successor Warrant Agent shall be appointed, the Company shall give notice thereof to the predecessor Warrant Agent and the transfer agent for the Common Stock not later than the effective date of any such appointment.

8.2.3.           Merger or Consolidation of Warrant Agent.  Any corporation into which the Warrant Agent may be merged or with which it may be consolidated or any corporation resulting from any merger or consolidation to which the Warrant Agent shall be a party shall be the successor Warrant Agent under this Agreement without any further act.

8.3.           Fees and Expenses of Warrant Agent.

8.3.1.           Remuneration.  The Company agrees to pay the Warrant Agent reasonable remuneration for its services as such Warrant Agent hereunder and will reimburse the Warrant Agent upon demand for all expenditures that the Warrant Agent may reasonably incur in the execution of its duties hereunder.

8.3.2.           Further Assurances.  The Company agrees to perform, execute, acknowledge, and deliver or cause to be performed, executed, acknowledged, and delivered all such further and other acts, instruments, and assurances as may reasonably be required by the Warrant Agent for the carrying out or performing of the provisions of this Agreement.

  

10

  

 

8.4.           Liability of Warrant Agent.

8.4.1.           Reliance on Company Statement.  Whenever in the performance of its duties under this Warrant Agreement, the Warrant Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a statement signed by the Chief Executive Officer or Chairman of the Board of the Company and delivered to the Warrant Agent.  The Warrant Agent may rely upon such statement for any action taken or suffered in good faith by it pursuant to the provisions of this Agreement.

8.4.2.           Indemnity.  The Warrant Agent shall be liable hereunder only for its own gross negligence, willful misconduct or bad faith.  The Company agrees to indemnify the Warrant Agent and save it harmless against any and all liabilities, including judgments, costs and reasonable counsel fees, for anything done or omitted by the Warrant Agent in the execution of this Agreement except as a result of the Warrant Agent’s gross negligence, willful misconduct, or bad faith.

8.4.3.           Exclusions.  The Warrant Agent shall have no responsibility with respect to the validity of this Agreement or with respect to the validity or execution of any Warrant (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant; nor shall it be responsible to make any adjustments required under the provisions of Section 4 hereof or responsible for the manner, method, or amount of any such adjustment or the ascertaining of the existence of facts that would require any such adjustment; nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any Common Stock to be issued pursuant to this Agreement or any Warrant or as to whether any Common Stock will when issued be valid and fully paid and nonassessable.

8.5.           Acceptance of Agency.  The Warrant Agent hereby accepts the agency established by this Agreement and agrees to perform the same upon the terms and conditions herein set forth and among other things, shall account promptly to the Company with respect to Warrants exercised and concurrently account for, and pay to the Company, all moneys received by the Warrant Agent for the purchase of Common Stock through the exercise of Warrants.

8.6           Waiver. The Warrant Agent hereby waives any right of set-off or any other right, title, interest or claim of any kind (“Claim”) in, or to any distribution of, the Trust Account (as defined in that certain Investment Management Trust Agreement, dated as of the date hereof, by and between the Company and the Warrant Agent as trustee thereunder) and hereby agrees not to seek recourse, reimbursement, payment or satisfaction for any Claim against the Trust Account for any reason whatsoever.

  

11

  

 

9.           Miscellaneous Provisions.

9.1.           Successors.  All the covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective successors and assigns.

9.2.           Notices.  Any notice, statement or demand authorized by this Warrant Agreement to be given or made by the Warrant Agent or by the holder of any Warrant to or on the Company shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Company with the Warrant Agent), as follows:

Cambridge Capital Acquisition Corporation

525 South Flagler Drive, Suite 201

West Palm Beach, FL 33401

Attn:  Chief Executive Officer

Any notice, statement or demand authorized by this Agreement to be given or made by the holder of any Warrant or by the Company to or on the Warrant Agent shall be sufficiently given when so delivered if by hand or overnight delivery or if sent by certified mail or private courier service within five days after deposit of such notice, postage prepaid, addressed (until another address is filed in writing by the Warrant Agent with the Company), as follows:

Continental Stock Transfer & Trust Company

17 Battery Place

New York, New York 10004

Attn:  Compliance Department

with a copy in each case to:

Graubard Miller

The Chrysler Building

405 Lexington Avenue

New York, New York 10174

Attn:  David Alan Miller, Esq.

and

Ellenoff Grossman & Schole LLP

1345 Avenue of the Americas, 11th Floor

New York, NY  10105

Attn:  Douglas S. Ellenoff, Esq.

and

EarlyBirdCapital, Inc.

275 Madison Avenue, 27th Floor

New York, New York 10016

Attn:  David M. Nussbaum, Chairman

  

12

  

 

9.3.           Applicable Law.  The validity, interpretation, and performance of this Agreement and of the Warrants shall be governed in all respects by the laws of the State of New York, without giving effect to conflicts of law principles that would result in the application of the substantive laws of another jurisdiction.  The Company hereby agrees that any action, proceeding or claim against it arising out of or relating in any way to this Agreement shall be brought and enforced in the courts of the State of New York or the United States District Court for the Southern District of New York, and irrevocably submits to such jurisdiction, which jurisdiction shall be exclusive.  The Company hereby waives any objection to such exclusive jurisdiction and that such courts represent an inconvenience forum.  Any such process or summons to be served upon the Company may be served by transmitting a copy thereof by registered or certified mail, return receipt requested, postage prepaid, addressed to it at the address set forth in Section 9.2 hereof.  Such mailing shall be deemed personal service and shall be legal and binding upon the Company in any action, proceeding or claim.

9.4.           Persons Having Rights under this Agreement.  Nothing in this Agreement expressed and nothing that may be implied from any of the provisions hereof is intended, or shall be construed, to confer upon, or give to, any person or corporation other than the parties hereto and the registered holders of the Warrants and, for the purposes of Sections 2.5, 6.4, 7.4 and 9.8 hereof, EBC, any right, remedy, or claim under or by reason of this Warrant Agreement or of any covenant, condition, stipulation, promise, or agreement hereof.  EBC shall be deemed to be a third-party beneficiary of this Agreement with respect to Sections 2.5, 6.4, 7.4 and 9.8 hereof.  All covenants, conditions, stipulations, promises, and agreements contained in this Warrant Agreement shall be for the sole and exclusive benefit of the parties hereto (and EBC with respect to the Sections 2.5, 6.4, 7.4 and 9.8 hereof) and their successors and assigns and of the registered holders of the Warrants.

9.5.           Examination of the Warrant Agreement.  A copy of this Agreement shall be available at all reasonable times at the office of the Warrant Agent in the Borough of Manhattan, City and State of New York, for inspection by the registered holder of any Warrant.  The Warrant Agent may require any such holder to submit his Warrant for inspection by it.

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

9.7.           Effect of Headings.  The Section headings herein are for convenience only and are not part of this Warrant Agreement and shall not affect the interpretation thereof.

9.8           Amendments.  This Agreement may be amended by the parties hereto without the consent of any registered holder for the purpose of curing any ambiguity, or of curing, correcting or supplementing any defective provision contained herein or adding or changing any other provisions with respect to matters or questions arising under this Agreement as the parties may deem necessary or desirable and that the parties deem shall not adversely affect the interest of the registered holders.  All other modifications or amendments, including any amendment to increase the Warrant Price or shorten the Exercise Period, shall require the written consent or vote of the registered holders of a majority of the then outstanding Warrants.  Notwithstanding the foregoing, the Company may lower the Warrant Price or extend the duration of the Exercise Period pursuant to Sections 3.1 and 3.2, respectively, without the consent of the registered holders.  The provisions of this Section 9.8 may not be modified, amended or deleted without the prior written consent of EBC.

9.9           Severability. This Warrant Agreement shall be deemed severable, and the invalidity or unenforceability of any term or provision hereof shall not affect the validity or enforceability of this Warrant Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid or unenforceable term or provision, the parties hereto intend that there shall be added as a part of this Warrant Agreement a provision as similar in terms to such invalid or unenforceable provision as may be possible and be valid and enforceable.

 

  

13

  

 

IN WITNESS WHEREOF, this Agreement has been duly executed by the parties hereto as of the day and year first above written.

 

	 	CAMBRIDGE CAPITAL ACQUISITION 

CORPORATION

	 
	 	 	 	 
	
 

	
By: 

	 	 
	 	 	Name:	 
	 	 	Title:	 
	 	 	 	 

 

	 	
CONTINENTAL STOCK TRANSFER

 & TRUST COMPANY

	 
	 	 	 	 
	
 

	
By: 

	 	 
	 	 	Name:	 
	 	 	Title:	 

 

 

14f1012g2013a4ex10xviii_ubl.htm

Exhibit 10.18

 

CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS AGREEMENT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO THE CONFIDENTIALITY REQUEST. A COMPLETE VERSION OF THIS AGREEMENT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION.

 

DATA CONTRIBUTION AND SERVICE AGREEMENT

This Data Contribution and Service Agreement (the “Agreement”) is entered into on August 21st, 2008 (the “Effective Date”) between the following parties:

	  	
Licensor

	
Licensee

	
Full Name

	
Universal Business Listings

	
infoUSA Inc.

	
State of Incorporation/Organization

	
North Carolina

	
Delaware

	
Principal Place of Business (address/city/state/zip)

	
7810 BallantyneC ommons Parkway Suite # 300

Charlotte, NC 28277

	
5711 South 86th Circle

Omaha, NE6 8127

	
Main Business Telephone Number

	
408-413-3828

	
402-593-4500

	
Main Contact Name

	
Doyle Bryant     

	
Jim DeRouchey

	
Main Contact Phone Number

	
704-400-1202

	
Same as above

	
Main Contact Email Address

	
dbryant@universalbusinesslisting.org

	
Jim.DeRouchey@infousa.com

	
Contact for Notice

	
Doyle Bryant

	
Corporate Counsel

Cc: President, infoUSA Content Group

	
Address for Notice

(address/city/state/zip)

	
7810 BallantyneC ommons Parkway Suite # 300

Charlotte, NC 28277     

	
5711 South 86th Circle

Omaha, NE6 8127

Cc:1 020 East 1st Street

P apillion, NE 68046

	
Fax Number for Notice

	
888-286-1432

	
402-537-6197

Universal Business Listings (“Licensor”) owns, produces or provides, among other products or services, information as defined in Paragraph 2 of this Agreement.i nfoUSA Inc. (“infoUSA”) desires that Licensor provide infoUSA with certain data and/or services as set forth herein, on the terms and conditions described in this Agreement.L icensor and infoUSA agree as follows:

 

	
1.

	

Term. The term of this Agreement shall begin on the Effective Date and shall extend for 1 (one) year (the “Initial Term”), unless extended or earlier terminated in accordance with the Agreement.T his Agreement shall automatically extend for additional periods of one (1) year each (a “Renewal Term”) following the conclusion of the Initial Term and each Renewal Term, if any, thereafter, unless terminated prior to such extension.E ither party may terminate this Agreement at any time with or without cause upon thirty (30) days written notice to the other party.:

 

 

	
2.

	
License Grant and Description of Licensed Data.L icensor hereby grants to infoUSA a non-exclusive, worldwide, perpetual, royalty-free license to incorporate the Licensed Data, as defined herein, into infoUSA’s database (the “infoUSA Database”) for the purpose of database enhancement and to modify, resell or otherwise use the Licensed Data as incorporated into the infoUSA Database as infoUSA determines in its sole discretion, subject to the terms of this Agreement. Licensor will provide infoUSA with the following data (collectively, the “Licensed Data”):

 

 Each Licensee location (“Record”) will include the data elements listed in Attachment A which is incorporated into this Agreement by reference.

 

  

  

  

 

	
3.

	
Data Delivery, Fees and Payment. Licensor will deliver the Licensed Data to infoUSA electronically to an FTP site provided by the Licensor in a fixed-length de-limited format. This delivery is to be made on the 1st of every month. In consideration for the Services provided in Section 6, Licensor shall pay infoUSA a fee outlined in Paragraph 3.1 and 3.2.i nfoUSA will invoice Licensor monthly for Records submitted to infoUSA.P ayment is due thirty (30) days from receipt of invoice.

 

	
  

	
3.1 Fees. Licensor will pay infoUSA on a per Record basis as outlined below:

 

[*]

 

Additional Verticals: As agreed-to by and between the parties, Licensor will update once a month list of agency contacts. Both parties agree to coordinate marketing efforts on all listed accounts opportunities.

 

	
3.2  

	
Referral Incentive. In the event that Licensor refers a database licensing prospect to InfoUSA, Licensor will be credited with an amount equal to 5% of the new licensees paid first year license fees; provided, such referred prospect: (i) was not already an infoUSA licensee at the time of referral by Licensor; or (ii) was not already engaged in discussions with infoUSA regarding a potential database license relationship.

 

	
3.3

	
M inimum Records; Fees. Notwithstanding anything in Section 3.1 to the contrary, during the Initial Term, Licensor guarantees: [*] with any shortfall to be paid in one (1) lump sum within thirty (30) days of the conclusion of the Initial Term.

 

	
4.

	
Termination for Cause. Either party may terminate this Agreement if the other party defaults in the performance of any material provision of this Agreement, which default is not cured within thirty (30) days after written notice from the non-defaulting party.

 

	
5.

	
Licensor Obligations. In the event infoUSA informs Licensor that there is a problem or mistake with the Licensed Data, Licensor shall repair or replace the defective Licensed Data.

 

	
6.

	
Description of Services. Following receipt of each delivery of the Licensed Data, infoUSA shall use the Licensed Data to update the infoUSA Database, which may result in an Updated Licensor Location Data File. infoUSA shall: (i) promote the availability of the Updated Licensor Location Data File to its clients who license the infoUSA Database for directory use; and (ii)f ollowing its receipt of each delivery of the Licensed Data, begin the review and integration process to the infoUSA Database. The parties acknowledge and understand that the Updated Licensor Location Data File may be available more frequently than certain of infoUSA’s clients have contractually agreed to receive updates to the infoUSA Database, accordingly infoUSA does not represent or guarantee the overall number of, or which infoUSA clients will agree to receive and utilize the Updated Licensor Location File.

 

	
7.

	
Representations and Warranties. Each party represents and warrant that (i) it has legally sufficient rights to enter into and perform its obligations under this Agreement free and clear of any claims of any third parties; (ii) entering into this Agreement will not in any way constitute a breach or violation of any other agreement or applicable Laws.I n addition, Licensor further represents and warrants that:( iii) it has not converted, misappropriated or otherwise wrongfully secured the Licensed Data in whole or in part from third parties; and (iv) there are no liens or encumbrances affecting the Licensed Data.

 

	
8.

	
Compliance with Laws. The parties shall comply with all applicable federal, state and local laws, statutes, rules, regulations and ordinances (“Laws”) including, but not limited to, privacy, data protection and direct marketing Laws and Laws concerning facsimile and email transmissions.

 

	
9.

	
Indemnification.

 

	
9.1  

	
Indemnification by Licensor.L icensor shall indemnify, defend, and hold harmless infoUSA, and its respective representatives, successors and permitted assigns from and against any and all claims by any third party and all related losses, expenses, damages, costs and liabilities, including reasonable attorneys' fees and expenses incurred in investigation or defense, regardless of the theory of liability or the nature of the legal proceeding (“Damages”), to the extent such Damages arise out of or relate to the following:( a) the gross negligence or willful misconduct of Licensor or its representatives in the performance of Licensor’s obligations under this Agreement; (b) any claims that infoUSA has violated or infringed the intellectual property rights of any third party in the use of any Licensed Data provided to infoUSA under this Agreement or in the use of any Licensed Data as permitted by this Agreement; (c) any claims that the Licensed Data violates applicable Laws; or (d) any material breach of Licensor’s representations and warranties.

 

[*] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portion.

 

  

2

  

 

	
9.2 

	
Indemnification by infoUSA. infoUSA shall indemnify, defend, and hold harmless Licensor and its respective representatives, successors and permitted assigns, from and against any and all claims made or threatened by any third party and all related Damages, to the extent such Damages arise out of or relate to the following:( a) the gross negligence or willful misconduct of infoUSA or its representatives in the performance of infoUSA’s or its representatives obligations under this Agreement; (b) any claims related to infoUSA’s use of the Licensed Data in violation of applicable Laws; or (c) any material breach of Licensor’s representations and warranties.

 

	
10.

	
Publicity. Neither party will, without the other party's prior written consent, use the name, service marks or trademarks of the other party or any of its affiliates; provided, however, Licensor shall be permitted to display infoUSA’s logo on its website, subject to infoUSA’s prior approval of the location of the placement and text, if any, on the website pertaining to the relationship between Licensor and infoUSA. infoUSA hereby reserves the right to revoke, at any time and without reason, any permission granted to Licensor to display infoUSA’s logo on Licensor’s website.

	
11.

	
Limitation of Liability. IN NO EVENT SHALL EITHER PARTY BE LIABLE TO THE OTHER FOR ANY INCIDENTAL, CONSEQUENTIAL, PUNITIVE, INDIRECT OR SPECIAL DAMAGES SUCH AS, BY WAY OF EXAMPLE AND NOT LIMITATION, LOST REVENUES OR LOST PROFITS, ARISING OUT OF OR IN CONNECTION WITH THIS AGREEMENT.E XCEPT WITH RESPECT TO THE INDEMNIFICATION OBLIGATIONS IN SECTION 9 OF THIS AGREEMENT, VIOLATION OF LAWS OR INTELLECTUAL PROPERTY INFRINGEMENT, EITHER PARTY’S TOTAL AGGREGATE LIABILITY UNDER ANY LEGAL THEORY (INCLUDING NEGLIGENCE) FOR DAMAGES ARISING DIRECTLY OR INDIRECTLY FROM THIS AGREEMENT SHALL NOT IN ANY EVENT EXCEED THE AMOUNT PAYABLE BY LICENSOR TO INFOUSA FOR THE SERVICES FOR THE TWELVE (12)-MONTH PERIOD IMMEDIATELY PRECEDING THE CLAIM.

 

	
12.

	

Confidentiality. Each party may receive from the other party information that relates to the other party’s business, research, development or trade secrets, including but not limited to data, mailing lists, and marketing plans (“Confidential Information”).C onfidential Information shall also include the terms of this Agreement; including, but not limited to, pricing.E ach party agrees to use at least the same degree of care, but not less than reasonable care, to prevent disclosing to other persons the Confidential Information of the other party.E ach party further agrees not to disclose or permit any other person or entity access to the other party’s Confidential Information, except such disclosure or access shall be permitted to an employee, agent, representative or independent contractor of such party requiring access in order to perform his or her employment or services as they relate to the Products provided herein. Each party shall insure that its employees, agents, representatives, and independent contractors are advised of the confidential nature of the Confidential Information and are precluded from taking any action prohibited under this Section.A  party shall immediately notify the other party in writing of all circumstances surrounding any possession, use or knowledge of Confidential Information by any person or entity other than those authorized by this Agreement.C onfidential Information shall not include the Licensed Data and/or information of the other party which (i) the receiving party rightfully possessed before it received such information from the other party; (ii) subsequently becomes publicly available through no fault of the receiving party; (iii) is subsequently furnished to the receiving party by a third party without restrictions on disclosure; or (iv) is required to be disclosed by law, provided that the receiving party will use reasonable efforts to notify the other party prior to disclosure.U pon the expiration or termination of this Agreement, each party shall, upon request of the other party, return or destroy all Confidential Information of the other party.I n the case of destruction, the receiving party shall certify such destruction to the disclosing party within thirty (30) days following request for such certification.B oth parties acknowledge that, if a party breaches (or attempts or threatens to breach) its obligations under this Section, the non-breaching party will suffer irreparable harm.A ccordingly, the parties agree that the non-breaching party shall be entitled to injunctive relief against the breaching party, its officers or employees and such other rights and remedies to which the non-breaching party may be entitled to at law, in equity or under this Agreement for any violation of this Section.

  

3

  

 

	
13.

	
Intellectual Property Rights. infoUSA shall be the sole and exclusive owner of all right, title and interest in and to infoUSA’s Database.N othing in this Agreement shall be deemed to grant to one party license rights, ownership rights or any other intellectual property rights in any materials owned by the other party or any affiliate of the other party.

	
14.

	
Relationship of the Parties. Nothing in this Agreement shall be deemed or construed to create the relationship of partnership or joint venture between the parties.N either party has any authority to enter into any contract or create any obligation or liability on behalf of or binding upon the other party.

	
15.

	
Notices. Any notices to be given hereunder to any other party, including any notice of a change of address, shall be in writing and shall be deemed validly given if (a) delivered personally; (b) sent by overnight or second day express delivery service; (c) sent by registered or certified mail, postage prepaid, return receipt requested; or (d) sent by confirmed facsimile transmission, and addressed to such party at the address or facsimile number indicated for such party on page 1 of this Agreement or at such other address as a party may indicate in a written notice to the other party.

	
16.  

	
Assignment and Binding Effect. This Agreement and the rights and obligations hereunder may not be transferred or assigned by either party without the prior written consent of the other party, except that they may be assigned to an entity with which a party merges or is acquired. This Agreement shall be binding upon and shall benefit the parties and their respective successors and permitted assigns.

	
17.

	
Amendment or Waiver. No amendment of this Agreement shall be valid unless it is in writing and signed by both parties.N o waiver of any provision of this Agreement shall be valid unless it is in writing and signed by the party making the waiver.A ny waiver of a breach or observance of any provision of this Agreement shall not be construed as a waiver of any subsequent breach.

	
18.

	
Force Majeure. Neither party shall be responsible for any failure to perform (except for payment obligations) due to unforeseen circumstances or to causes beyond its control, including but not limited to acts of God, war, riot, embargoes, acts of civil or military authorities, earthquakes, fire, floods, accidents, strikes, shortages of transportation facilities, fuel, energy, labor or materials or failures of telecommunications or electrical power supplies.A  party whose performance is affected by a force majeure event shall be excused from such performance to the extent required by the force majeure event so long as such party takes all reasonable steps to avoid or remove such causes of nonperformance and immediately continues performance whenever and to the extent such causes are removed.B oth parties shall use all reasonable efforts to overcome or work around the force majeure event as soon as reasonably practicable.

	
19.

	
Non-Solicitation. During the term of this Agreement and for twelve (12) months thereafter neither Licensor nor infoUSA shall directly or indirectly solicit for employment any person employed then or within the preceding twelve (12) months by the other party, without the other party's consent in writing.T he foregoing prohibition does not include general public solicitations for employment.

	
20.

	
Governing Law. The validity and effect of this Agreement shall be governed by and construed in accordance with the laws of the State of Nebraska without regard to its conflict of laws rules.A ll legal proceedings relating to the subject matter of this Agreement shall be maintained in the state or federal courts sitting in Douglas County, Nebraska and each party agrees that jurisdiction and venue for any such legal proceedings shall lie exclusively with such courts.

 

  

4

  

 

	
21.

	
Survival. The provisions of Sections 2-9, 11-12, 14-17, and 21, in addition to any other provisions of this Agreement or any Schedule that by their nature should survive termination, shall survive termination of this Agreement for any reason.

	
22.

	
Severability. If any provision of this Agreement shall be determined by any court of competent jurisdiction to be invalid or unenforceable, such invalidity or unenforceability shall not affect the remainder of this Agreement, which shall be construed as if such invalid or unenforceable provision had never been a part of this Agreement but in a manner so as to carry out as nearly as possible the parties’ original intent.

	
23.

	
Marketing. Licensor may inform key partners of the joint relationship. In addition, infoUSA will issue a press release mutually agreed upon by the parties regarding the parties’ relationship hereunder within thirty (30) days following the execution of this Agreement. Licensee shall first use its best efforts to provide the statement of an executive (General Manager and above) for use in the aforementioned press release. Any additional press release or additional public announcement(s) relating to the Agreement or the relationship established by this agreement can not be released without the express written consent of the other part, which consent will not be unreasonably withheld or delayed.

	
  

	 

	
24.

	
Complete Agreement. This Agreement sets forth the entire understanding of Licensor and infoUSA with respect to the subject matter hereof and supersedes all prior letters of intent, agreements, covenants, arrangements, communications, representations, or warranties, whether oral or written, by any officer employee, or representative of either party relating thereto.S ignatures received via facsimile shall be deemed originals for all purposes.

 

IN WITNESS HEREOF, the parties’ duly authorized representatives have executed this Agreement on the Effective Date.

 

	
Universal Business Listings, Licensor

 

By: /s/ Doyal Bryant                                          

 

Name:   Doyal Bryant

 

Title:P resident

 

Date:  8/22/08

	
infoUSA Inc., Licensee

 

By: /s/ Fred Vakili                                                         

 

Name: Fred Vakili

 

Title:  Chief Administrative Officer

 

Date:  8/27/08

 

  

5

  

 

ATTACHMENT A

RECORD DATA ELEMENTS

 

Each Licensee location (“Record”) provided as Licensed Data to Licensee will include the following data elements, where available:

	
ID

	
Unique Identification Number

	
20

	
This is the clients ID number per unique location.T his number should not change between deliveries.

	
Record Status

	
Transactional status for each record

	
1

	
Table of codes such as:

New Location

Deleted Location

Change

Static

	
Company Name

	
Business name for the record

	
45

	  
	
Alternative Name(s)

	
Alternative Name(s) of the business, i.e.

Also Known As (AKAs)

	
45

	  
	
Legal Name

	
Legal name of the physical location

	
45

	  
	
Location Address

	
Physical address of the business

	
45

	  
	
Location City

	
City of the physical address

	
30

	  
	
Location State

	
State of the physical address

	
2

	  
	
Location Zip Code

	
Zip code and for the physical address

	
6

	  
	
Suite

	
Suite number for the physical address

	
10

	  
	
Mailing Address

	
Mailing address of the business

	
45

	  
	
Mailing City

	
City of the Mailing address

	
30

	  
	
Mailing State

	
State of the Mailing address

	
2

	  
	
Mailing Zip Code

	
Zip code of the Mailing address

	
6

	  
	
Landmark Address

	
Landmark address of the business

	
45

	
References the general area in which the business is physically located. Typical Landmark addresses include mall and office names (Oakview Mall, World Trade Center, etc.).

	
Landmark City

	
City of the Landmark address

	
30

	  
	
Landmark State

	
State of the Landmark address

	
2

	  
	
Landmark Zip Code

	
Zip code of the Landmark address

	
6

	  
	
Location Phone

	
Main phone number for the physical location

	
10

	  
	
Alternate Phone

	
Secondary phone number for the business

	
10

	  
	
Fax

	
Main fax number for the physical location

	
10

	  
	
First Name

	
First Name of the person in charge at the

physical location

	
15

	  
	
Middle Name

	
Middle initial of the person in charge at the

physical location

	
15

	  
	
Last Name

	
Last name of the person in charge at the

physical location

	
30

	  
	
Title

	
Title of the person in charge at the

physical location

	
50

	  
	
Pro Title

	
Professional title of the person in charge at

the physical location

	
30

	
Holds multiple titles separated by semi-colons

	
Employee Size

	
Number of employees) at the physical location

	
8

	  
	
Line of Business

	
Primary yellow page heading/line of business

for the physical location

	
25

	
Where your company would list in the Yellow Pages

	
Line of Business 2

	
Additional yellow page heading/line of business

for the physical location

	
25

	  

 

  

6

  

 

	
Line of Business 3

	
Additional yellow page heading/line of business

for the physical location

	
25

	  
	
Web Address

	
Main website address for the physical location

	
50

	  
	
Toll Free

	
Toll Free number of the physical location

	
10

	  
	
Monday Open

	
The time of day the business opens on Monday

	
4

	
Stored as military time

	
Monday Close

	
The time of day the business closes on Monday

	
4

	
Stored as military time

	
Tuesday Open

	
The time of day the business opens on Tuesday

	
4

	
Stored as military time

	
Tuesday Close

	
The time of day the business closes on Tuesday

	
4

	
Stored as military time

	
Wednesday Open

	
The time of day the business opens on Wednesday

	
4

	
Stored as military time

	
Wednesday Close

	
The time of day the business closes on Wednesday

	
4

	
Stored as military time

	
Thursday Open

	
The time of day the business opens on Thursday

	
4

	
Stored as military time

	
Thursday Close

	
The time of day the business closes on Thursday

	
4

	
Stored as military time

	
Friday Open

	
The time of day the business opens on Friday

	
4

	
Stored as military time

	
Friday Close

	
The time of day the business closes on Friday

	
4

	
Stored as military time

	
Saturday Open

	
The time of day the business opens on Saturday

	
4

	
Stored as military time

	
Saturday Close

	
The time of day the business closes on Saturday

	
4

	
Stored as military time

	
Sunday Open

	
The time of day the business opens on Sunday

	
4

	
Stored as military time

	
Sunday Close

	
The time of day the business closes on Sunday

	
4

	
Stored as military time

	
AMEX

	
Does the business accept American Express?

	
1

	
T = True, F = False

	
Discover

	
Does the business accept Discover?

	
1

	
T = True, F = False

	
Visa

	
Does the business accept Visa?

	
1

	
T = True, F = False

	
Master Card

	
Does the business accept MasterCard?

	
1

	
T = True, F = False

	
Dinners Club

	
Does the business accept Diners Club?

	
1

	
T = True, F = False

	
Store Card

	
Does the business accept store cards or other cards?

	
1

	
T = True, F = False

	
Year Opened

	
The year the physical location opened for business

	
4

	  
	
Business Description

	
Description of the business

	
600

	
Company History "Founded" information.....when and by whom and how.

 Mission Statement

Distinctive Facts( what separates them from anybody else)

What they specialize in( or what they do....products/services)

Regional, local, national, international reach

Certificates or Awards" Awarded top 1000 working mother companies"," Are ISO 9000 Certified"

 

	
Company Owned

	
Is the physical location owned by the company?

	
1

	
T = True, F = False

	
Store #

	
Store number for the physical location

	
8

	  

 

  

7

  

 

	
Storefront Photo ID

	
Id number for a storefront photo in the photo file

	
9

	  
	
Video ID

	
Id number for a video in the video file

	
9

	  
	
Logo ID

	
Id number for a logo in the logo file

	
9

	  
	
Location Revenue

	
Actual revenue of the physical location

	
1

	
This field contains an alpha code corresponding to the estimated sales of the business in thousands of dollars.

	  	  	  	
A  1 - 4 99

	  	  	  	
B  500- 9 99

	  	  	  	
C  1,000- 2 ,499

	  	  	  	
D  2,500- 4 ,999

	  	  	  	
E  5,000- 9 ,999

	  	  	  	
F  10,000- 1 9,999

	  	  	  	
G  20,000- 4 9,999

	  	  	  	
H  50,000- 9 9,999

	  	  	  	
I  100,000- 4 99,999

	  	  	  	
J  500,000- 9 99,999

	  	  	  	
K 1,000,000 +

	
Sq Footage

	
Square footage of the physical location

	
7

	  
	
Banking Relationship

	
Main financial institution used by the

physical location

	
45

	  
	
Legal Entity

	
Type of legal entity of the

physical location

	
1

	
Table of codes such as:

Sole Proprietorship

General Partnership

Limited Partnership

Corporation

S Corporation

Limited Liability Company (LLC)

	
Business Status

	
The type of location within its

corporation structure

	
1

	
Table of codes such as:

1 = Headquarters

2 = Branches

3 = Subsidiary Headquarters

9 = Not Linked

	
Business Function

	
The main function of the business at

the physical location

	
1

	
Table of codes such as:

Retail

Management Office

  

8

  

 

AMENDMENT

 

TO

 

DATA CONTRIBUTION AND SERVICE AGREEMENT

 

PARTIES  (“Parties”)

 

	
infoUSA:

	
infoUSA Inc.

	 	 
	
Licensor:

	
Name Dynamics, LLC, dba UniversalBusinessListing.org.

	 	 
	
Effective Date of Agreement:

	
August 21, 2008

 

	 	 
	
Effective Date of this Amendment:

	
September 17, 2009

 

 

This Amendment to the Data Contribution and Service Agreement (“Amendment”) is entered into by and between infoUSA Inc. (“infoUSA”) and Name Dynamics, LLC (“Licensor” or “Name Dynamics”)to amend the Data Contribution and Service Agreement between infoUSA and Universal Business Listings dated August 21, 2008  (“Agreement”).

 

The Parties agree to amend the Agreement, as follows:

 

1.     Unless otherwise set forth herein, all defined terms shall have the meanings ascribed to them in the Agreement.

 

2.         Paragraph 1 (Term) of the Agreement is hereby amended and restated in its entirety, as follows:

 

“1.  Term.  The term of this Agreement shall begin on the Effective Date and shall remain in effect for three (3) years (the “Initial Term”), unless extended or earlier terminated in accordance with the Agreement.  This Agreement shall automatically extend for additional periods of one (1) year each (a “Renewal Term”) following the conclusion of the Initial Term and each Renewal Term, if any, thereafter, until terminated by either party as provided herein; provided, however, that either party may terminate this Agreement effective on the last day of any Contract Year by providing the other party written notice no less than ninety (90) days prior to the expiration of such Contract Year of its intent to terminate.  The Initial Term shall consist of three (3) Contract Years, as follows:

 

Contract Year 1 (August 21, 2008 through August 20, 2009)

 

Contract Year 2 (August 21, 2009 through August 20, 2010)

 

Contract Year 3 (August 21, 2010 through August 20, 2011)

 

  

9

  

 

3.         Paragraph 3.1 (Fees) of the Agreement is hereby amended and restated in its entirety as follows:

 

“3.1  Fees.  Licensor will pay infoUSA [*] for each Record provided by Licensor to infoUSA, unless by mutually-agreed exception.”

 

4.   Section 3.3 (Minimum Records; Fees) is hereby amended and restated in its entirety as follows:

 

3.3  Minimum Records; Fees.  Notwithstanding anything in Section 3.1 to the contrary, during the Initial Term, Licensor guarantees: [*], with any shortfall to be paid in one (1) lump sum within thirty (30) days of the conclusion of each Contract Year. 

 

5.         Both Licensor and infoUSA acknowledge and agree that that Licensor paid Licensee fees during Contract Year 1, [*].  Provided, however, that if Licensor shall become liable to pay any deficiency for Contract Year 1, then and in that event, the parties agree to negotiate in good faith to determine the precise amount owed by Licensor to infoUSA, giving due consideration to any act or omission by infoUSA that may have affected the revenues of Licensor and the consequent remittance to infoUSA as well as any act or omission of Licensor that negatively impacted revenues for Contract Year 1.   Failure by Licensor to meet the Contract Year 2 minimum by the end of Contract Year 2 may also be deemed by infoUSA as a material breach of the Agreement.  The obligation of the parties in this paragraph shall survive any termination or expiration of the Agreement.

6.         This Amendment shall be effective as of the Effective Date of this Amendment, as set forth above, and will run concurrent with the Initial Term of the Agreement.

7.        Except as set forth in this Amendment, the Agreement shall remain unchanged and in full force and effect.

 

Name Dynamics, LLC

 

	
Dba UniversalBusinessListing.org

	 	
infoUSA Inc.

	  	 	  
	
/s/ Chris Travers

	 	
/s/ Bill L. Fairfield

	
Authorized Signature

	 	
Authorized Signature

	  	 	  
	
Chris Travers

	 	
Bill L. Fairfield

	
Name

	 	
Name

	  	 	  
	
President

	 	
C.E.O.

	
Title

	 	
Title

	  	 	  
	
November 9, 2009

	 	
11/11/207

	
Date

	 	
Date

 

[*] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portion.

  

  

10

  

 

 

AMENDMENT NUMBER (2) TO

 

DATA CONTRIBUTION AND SERVICE AGREEMENT

 

PARTIES:

 

	
Infogroup:

	
Infogroup Inc.

	
Licensor:

	
UBL Interactive, Inc.

	
Effective Date of Agreement:

	
August 21, 2008 as amended on September 17, 2009

	
Effective Date of this Amendment:

	
September 5, 2012

 

This Amendment Number (2) to the Database License Agreement (this “Amendment”) is entered into by and between Infogroup and Licensor to amend the Database License Agreement (the “Agreement”) as between the parties.  Unless otherwise set forth herein, all defined terms shall have the meanings ascribed to them in the Agreement.

 

The parties agree to amend the Agreement as follows:

 

	
1.  

	
This Amendment will commence on the Effective Date of this Amendment and will run concurrent with the Term of the Agreement.

 

	
2.  

	
Paragraph 3.1 of the Agreement is hereby amended and replaced in its entirety as follows:

 

”Data Delivery, Fees and Payment. Licensor will deliver the Licensed Data to Infogroup electronically in a mutually agreed format and delivery mechanism. Licensor shall pay Infogroup an annual fee of [*]  per unique US Business Record delivered to Infogroup. Licensor shall be invoiced such fee upon initial delivery of each Record and upon annual delivery of such Record; provided, however, Licensor shall not be charged a fee for any update to such Record which is delivered to Infogroup during the course of the year.”

	
3.  

	
Except as set forth in this Amendment, the Agreement shall remain unchanged and in full force and effect.

 

	UBL INTERACTIVE, INC.	 	INFOGROUP INC.
	 	 	 	 	 
	By:	/s/ Doyal Bryant	 	By:	/s/ Jim DeRouchey
	Name: 	Doyal Bryant	 	Name: 	Jim DeRouchey
	Title:	CEO	 	Title:	President Database Licensing
	Date:	09-28-2012	 	Date:	October 4, 2012

[*] Certain information on this page has been omitted and filed separately with the Securities and Exchange Commission.  Confidential treatment has been requested with respect to the omitted portion.

 

  

11

  

AMENDMENT NUMBER (3) TO

 

DATA CONTRIBUTION AND SERVICE AGREEMENT

 

PARTIES:

 

	
Infogroup:

 

	
Infogroup Inc.

	
Licensor:

 

	
UBL Interactive, Inc.

	
Effective Date of Agreement:

 

	
August 21, 2008 as amended on September 17, 2009

	
Effective Date of this Amendment:

	
November 12, 2012

 

This Amendment Number (3) to the Data Contribution and Service Agreement (this “Amendment”) is entered into by and between Infogroup and Licensor to amend the Data Contribution and Service Agreement (the “Agreement”) as between the parties.  Unless otherwise set forth herein, all defined terms shall have the meanings ascribed to them in the Agreement.

 

The parties agree to amend the Agreement as follows:

 

	 	
1.

	

This Amendment will commence on the Effective Date of this Amendment and will run concurrent with the Term of the Agreement.

 

	
  

	
2.

	
Paragraph 1 (Term) of the Agreement is hereby amended and restated in its entirety, as follows

 

  

1. Term. The term of this Agreement shall begin on the Effective Date and shall remain in effect for six (6) years (the "Initial Term"), unless extended or earlier terminated in accordance with the Agreement. This Agreement shall automatically extend for additional periods of one (1) year each (a "Renewal Term") following the conclusion of the Initial Term and each Renewal Term, if any, thereafter, until terminated by either party as provided herein; provided, however, that either party may terminate this Agreement effective on the last day of the Initial Term, or any Renewal Term, if applicable, by providing the other party written notice no less than ninety (90) days prior to the expiration of the Initial Term, or then-current Renewal Term, as applicable, of its intent to terminate. The Initial Term shall consist of six (6) Contract Years, as follows:

Contract Year 1 (August 21, 2008 through August 20, 2009)

Contract Year 2 (August 21, 2009 through August 20, 2010)

Contract Year 3 (August 21, 2010 through August 20, 2011)

Contract Year 4 (August 21, 2011 through August 20, 2012)

Contract Year 5 (August 21, 2012 through August 20, 2013)

Contract Year 6 (August 21, 2013 through August 20, 2014)

 

	
  

	
3.

	
Section 3.1 (Fees) is hereby amended to include the following:  “Licensor will pay Infogroup [*] for each Canadian record submitted during Contract Year 6.”

 

	
  

	
4.

	
Section 3.3 (Minimum Records; Fees) is amended to include the following:  “During Contract Year 5, Contract Year 6 and any subsequent Contract Year, Licensor shall pay to Infogroup an annual minimum fee of [*]”

 

	
  

	
5.

	
Except as set forth in this Amendment, the Agreement shall remain unchanged and in full force and effect.

 

	UBL INTERACTIVE, INC.	 	
INFOGROUP INC.

	 
	 	 	 	 
	
By:  {{_es_signer1_signature}}

	 	
By:  {{_es_signer2_signature}}

	  
	
Name:  {{_es_signer1_fullname}}

	 	
Name:  {{_es_signer2_fullname}}

	  
	
Title:  {{_es_signer1_title}}

	 	
Title:  {{_es_signer2_title}}

	  
	
Date:  {{_es_signer1_date}}

	 	
Date:  {{_es_signer2_date}}

	  

 

 

12

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