Document:

EX-10.2

Exhibit 10.2

AMENDMENT NO. 4

to the

AMENDED AND RESTATED OPERATING AGREEMENT

of

AMERICAN PROCESSING COMPANY, LLC

     THIS AMENDMENT NO. 4 (this “Amendment”) to that certain Amended and Restated Operating
Agreement, dated as of March 14, 2006, as amended by that certain Amendment No. 1 to the Amended
and Restated Operating Agreement, dated as of January 9, 2007, that certain Amendment No. 2 to the
Amended and Restated Operating Agreement, dated as of November 30, 2007 and that certain Amendment
No. 3 to the Amended and Restated Operating Agreement, dated as of February 28, 2008 (the
“Operating Agreement”), of American Processing Company, LLC, a Michigan limited liability company
(the “Company”), is made and entered into to be effective for all purposes as of August 15, 2008,
by and among the Company, the Manager and the Members listed on the signature pages hereto.
Capitalized terms used but not otherwise defined herein shall have meanings specified in the
Operating Agreement.

RECITALS

     A. On July 29, 2008, the Manager sent a Call Notice to each Member (the “NDEx Notice”) whereby
the Manager requested that each Member contribute to the capital of the Company its pro rata share
of an amount equal to $17,941,000, which such amount is being raised in connection with the
purchase by the Company, directly and indirectly, of (i) all the outstanding capital stock of
THP/NDEx AIV Corp., a Delaware corporation (“THP Corp.”), (ii) all the general partnership
interests in THP/NDEx AIV, LP, a Delaware limited partnership (“THP LP”), (iii) all the limited
partnership interests in National Default Exchange Holdings, L.P., a Delaware limited partnership
(“NDEx Holdings”), other than those limited partnership interests held by THP LP, and (iv) all the
outstanding capital stock of National Default Exchange Management, Inc., a Delaware corporation
which is the general partner of NDEx Holdings (“Management”), other than the capital stock held by
THP LP. NDEx Holdings, Management, THP Corp. and THP LP are collectively referred to herein as
“NDEx”.

     B. Dolan has elected to make capital contributions to the Company in connection with the NDEx
Notice and Dolan has agreed to make an additional contribution to the Company in the amount equal
to the sum of Trott & Trott’s Optional Capital Contribution Amount and Feiwell & Hannoy’s Optional
Capital Contribution Amount set forth in the NDEx Notice.

     C. A portion of the capital contribution to be made by Dolan will be in the form of 825,528
shares of Dolan Common Stock with an agreed fair market value of $15,947,964.

     D. The Company is a party to that certain Equity Purchase Agreement, dated as of July 28,
2008, by and among the Company and each of the other parties a party thereto (the “NDEx Equity
Purchase Agreement”) pursuant to which the Company has agreed to purchase all the outstanding
equity interests of NDEx.

     E. As a portion of the consideration being paid by the Company for the acquisition of the
equity interests of NDEx, the Company has agreed to issue an aggregate of 84,137

 

 

Common Units (the “NDEx Seller Units”) to the Persons, and in the amount, set forth on
Schedule A attached hereto (such Persons, the “NDEx Sellers”).

     F. Pursuant to Section 10.4 of the Operating Agreement, the Manager and a
Supermajority-in-Interest of the Members have agreed to amend the terms of the Operating Agreement
as provided in this Amendment in order to, among other things, reflect (i) the additional Common
Units issued to Dolan in connection with the additional capital contributions made by Dolan
described above, (ii) the issuance of the NDEx Seller Units to the NDEx Sellers and (iii) the
liquidity right agreed to be granted to the NDEx Sellers.

AGREEMENT

1. AMENDMENTS

     1.1 The following definitions shall be added to, or amended in, as appropriate, Article
I of the Operating Agreement:

“Formula Value Per Common Unit” means, as of a specified date (such date, the
“Valuation Date”), an amount equal to the quotient of (x) the difference between (i)
the product of (A) the Company’s Adjusted EBITDA for the most recently completed
twelve (12) calendar months prior to the Valuation Date (the “Valuation Period”) and
(B) 6.25 and (ii) the aggregate amount of any interest bearing indebtedness of the
Company as of the Valuation Date and (y) the number of Common Units of the Company
outstanding as of the Valuation Date (determined on a Common Equivalent Basis). For
purposes of calculating the foregoing, if the Company incurs interest bearing
indebtedness from any Person, including, but not limited to, an Affiliate of the
Company, during the Valuation Period for purposes of funding in part or in whole one
or more Acquisitions, then the Company’s Adjusted EBITDA shall include the
annualized Adjusted EBITDA for each such Acquisition, calculated as follows: an
amount equal to the sum of (A) the product of (x) the quotient of (i) Adjusted
EBITDA attributable to such Acquisition since the closing of such Acquisition that
is included in the Company’s Adjusted EBITDA for the Valuation Period (the
“Annualized Acquisition Adjusted EBITDA”), divided by (ii) the number of days since
the closing of such Acquisition during the Valuation Period, multiplied by (y) three
hundred sixty-five (365), minus (B) the Annualized Acquisition Adjusted EBITDA for
such Acquisition.

     “NDEx Sellers” means Michael C. Barrett, Jacqueline M. Barrett, Robert F. Frappier,
James C. Frappier, Mary A. Daffin, Barry Tiedt, Abbe L. Patton and Barrett Daffin Frappier
Turner & Engel, LLP, a Texas limited liability partnership (formerly known as Barrett Burke
Wilson Castle Daffin & Frappier, LLP).

     “Minority Members” means Trott & Trott, Feiwell & Hannoy and each of the NDEx Sellers.

     “Put Closing” is defined in Section 7.7(c).

 

 

     “Put Note” is defined in Section 7.7(c).

     “Put Securities” is defined in Section 7.7(c).

     1.2 Section 7.7 of the Operating Agreement is hereby amended and restated in its
entirety as follows:

7.7 Liquidity Right.

(a) (i) For a period of six (6) months after August 2, 2009 with respect to Trott &
Trott and Feiwell & Hannoy only, or (ii) for a period of six (6) months after the
fourth anniversary of the Closing Date (as defined in the NDEx Equity Purchase
Agreement) with respect to the NDEx Sellers only, each Minority Member will have the
right to require the Company to repurchase all or any portion of such Minority
Member’s Common Units or other Membership Interests in the Company for a purchase
price equal to the Repurchase Price by delivering written notice of the exercise of
such right to the Manager (the “Put Notice”). The date on which the Manager
receives a Put Notice hereinafter is referred to as the “Put Delivery Date”. The
parties acknowledge and agree that, for purposes of calculating the Repurchase
Price, the specified date with respect to the Formula Value Per Common Unit shall be
the date of the Put Closing (as defined below).

(b) The Company shall be obligated to purchase all of each applicable Minority
Member’s Common Units or other Membership Interests in the Company requested to be
repurchased by such Minority Member in the Put Notice pursuant to Section
7.7(a) hereof (the “Put Securities”), at a closing (the “Put Closing”) on such
date as mutually agreed to by the Manager and the applicable Minority Members, which
date shall not be prior to thirty (30) days after the Put Delivery Date. At the Put
Closing, (i) each Minority Member shall (A) endorse and deliver any certificates
representing the Put Securities held by such Minority Member to be repurchased by
the Company, (B) execute and deliver any other instruments requested by the Company
to evidence the repurchase of the Put Securities by the Company, and (C) execute and
deliver definitive documentation containing customary representations, warranties
and indemnifications satisfactory to the Manager (including that such Minority
Member has good and marketable title to the Put Securities free and clear of all
liens, hypothecations, mortgages, charges, security interests, pledges and other
encumbrances and claims of any nature), and (ii) the Manager shall deliver to such
Minority Member a promissory note issued by the Company (a “Put Note”) in the
aggregate principal amount equal to the Repurchase Price. Prior to the Put Closing,
a Minority Member and the Manager shall in good faith negotiate the terms and
conditions of the Put Note; provided, however, that such Put Note
will (i) be unsecured, (ii) be for a term of three years with level payments of
principal and interest during the term thereof, (iii) bear interest at a rate equal
to the then prevailing prime rate plus two percent (2%) and (iv) be subject to the
terms and

 

 

conditions of any subordination agreement requested by the Senior Agent and the
Senior Lenders.

     1.3 A new Section 3.3(c) is added to the Operating Agreement to read in its entirety
as follows:

(c) In-Kind Capital Contributions; Issuance of Additional Common Units. If
acceptable to the Manager, Optional Capital Contributions may be made in property
other than cash and the amount of such Optional Capital Contributions (which shall
be the fair market value of such property) shall be as determined by a
Supermajority-in-Interest of the Members. Dolan and each Minority Member who makes
Optional Capital Contributions shall receive additional Common Units in the Company
in an amount equal to the amount of Optional Capital Contributions so made divided
by the Formula Value Per Common Unit.

     1.4 Pursuant to Section 3.4 of the Operating Agreement, upon the closing of the acquisition of
NDEx by the Company, the Manager hereby authorizes the issuance of the NDEx Common Units to each of
the NDEx Sellers in the amounts set forth on Schedule A.

     1.5 Section 3.4(b)(ii) and Section 3.4(b)(iii) are hereby amended to read in
their entirety as follows:

(ii) If some, but not all of the Eligible Investors, do not exercise their rights
under this Section 3.4(b) (in such capacity, each a “Declining Investor”),
the Company shall so advise the other Eligible Investor(s) which are exercising
their rights under this Section 3.4(b) (in such capacity, a “Participating
Investor(s)”) by providing the Participating Investor(s) with written notice (the
“Participating Notice”) within ten (10) Business Days after the expiration of the
fifteen (15) Business Day period in which such rights could have been exercised.
The Participating Investor(s) shall thereupon for a period of five (5) Business Days
from the date of such Participating Notice be entitled to purchase the share of the
New Securities which could have been purchased by the Declining Investor(s). The
Participating Investor(s) shall close on the purchase of the New Securities within
thirty (30) days after the expiration of the 5-Business Day period.

(iii) The Company shall have one hundred twenty (120) days after the date of the
Preemptive Notice to sell or enter into an agreement (pursuant to which the sale of
New Securities covered thereby shall be closed, if at all, within sixty (60) days
from the date of such agreement) to sell the remaining New Securities not purchased
by the Eligible Investors or the Participating Investor(s), as the case may be, at a
price no less and upon the same terms and conditions as those specified in the
Preemptive Notice. If the price of the New Securities decreases or the terms and
conditions change, the provisions of this Section 3.4(b) shall again apply
de novo.

     1.6 Exhibit A of the Operating Agreement is hereby replaced with Exhibit A
attached hereto.

 

 

     1.7 Distributions. The parties agree that Distributable Cash related to the month in
which the Closing (as defined in the NDEx Equity Purchase Agreement) occurs shall be calculated by
computing the Member’s Participating Percentages for such month on a daily basis.

2. REFERENCE TO AND EFFECT ON THE OPERATING AGREEMENT

     2.1 Each reference in the Operating Agreement to “this Agreement”, “hereunder”, “hereof”,
“herein”, or words of like import shall mean and be a reference to the Operating Agreement as
amended hereby.

     2.2 Except as specifically amended above, the Operating Agreement shall remain in full force
and effect and is hereby ratified and confirmed.

3. MISCELLANEOUS

     3.1 This Amendment may be executed in any number of counterparts and by different parties
hereto in separate counterparts, each of which when so executed and delivered shall be deemed to be
an original and all of which taken together shall constitute one and the same instrument. In
accordance with the Operating Agreement, this Amendment shall be effective upon execution by the
Company, the Manger and a Supermajority-in-Interest of the Members. This Amendment, to the extent
signed and delivered by means of a facsimile machine or other electronic transmission (including
transmission in portable document format by electronic mail), shall be treated in all manner and
respects and for all purposes as an original agreement and shall be considered to have the same
binding legal effect as if it were the original signed version thereof delivered in person. At the
request of any party hereto, each other party hereto shall re-execute original forms hereof and
deliver them to all other parties, except that the failure of any party to comply with such a
request shall not render this Amendment invalid or unenforceable. No party hereto shall raise the
use of a facsimile machine or other electronic transmission to deliver a signature, or the fact
that any signature was transmitted or communicated through the use of a facsimile machine or other
electronic transmission, as a defense to the formation or enforceability of a contract and each
such party forever waives any such defense.

     3.2 Section headings in this Amendment are included herein for convenience of reference only
and shall not constitute a part of this Amendment for any other purpose.

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

     3.4 The language used in this Amendment will be deemed to be the language chosen by the
parties to express their mutual intent, and no rules of strict construction will be applied against
any party.

     3.5 If and to the extent there are any inconsistencies between the Operating Agreement and
this Amendment, the terms of this Amendment shall control.

 

 

     IN WITNESS WHEREOF, the undersigned have executed this Amendment as of the date first written
above.

	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	AMERICAN PROCESSING COMPANY, LLC	 	 
	 
	 	 	 	 	 	 
	 	 	By: DOLAN APC LLC

Its: Manager	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 	/s/ Scott J. Pollei
 

	 	 
	 

	 	Name: Scott J. Pollei	 	 
	 	 	Its: Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	MANAGER:	 	 
	 
	 	 	 	 	 	 
	 	 	DOLAN APC LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 	/s/ Scott J. Pollei
 

	 	 
	 

	 	Name: Scott J. Pollei	 	 
	 	 	Its: Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	MEMBERS:	 	 
	 
	 	 	 	 	 	 
	 	 	DOLAN APC LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 	/s/ Scott J. Pollei
 

	 	 
	 

	 	Name: Scott J. Pollei	 	 
	 	 	Its: Vice President	 	 
	 
	 	 	 	 	 	 
	 	 	APC INVESTMENTS, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 	/s/ David A. Trott
 

	 	 
	 

	 	Name: David A. Trott		 	 
	 	 	Its: Manager	 	 
	 
	 	 	 	 	 	 
	 	 	FEIWELL & HANNOY PROFESSIONAL CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By: 	/s/ Authorized Signer
 

	 	 
	 

	 	Name: 
	 	 
	 

	 	Its:	 	 	 

 

 

SCHEDULE A

NDEx SELLERS

	 	 	 	 	 
	Name	 	NDEX Seller Units
	Michael C. Barrett and Jacqueline M. Barrett, JTWROS
	 	 	34,609	 
	 
	 	 	 	 
	Mary A. Daffin and Maynard Samuel Daffin, Sr., Tenants
in Common
	 	 	14.899	 
	 
	 	 	 	 
	Robert F. Frappier
	 	 	14,899	 
	 
	 	 	 	 
	James C. Frappier and Judith A. Frappier, JTWROS
	 	 	5,714	 
	 
	 	 	 	 
	Abbe L. Patton and Lisle D. Patton, JTWROS
	 	 	5,714	 
	 
	 	 	 	 
	Barry Tiedt and Terri Tiedt, JTWROS
	 	 	5,714	 
	 
	 	 	 	 
	Brian S. Engel
	 	 	393	 
	 
	 	 	 	 
	Steve P. Turner and Marsha L. Turner, Tenants in Common
	 	 	394	 
	 
	 	 	 	 
	Barrett Daffin Frappier Turner & Engel, LLP
	 	 	1,801	 
	 
	 	 	 	 
	TOTAL:
	 	 	84,137	 

 

 

EXHIBIT A

List of Members, Capital Contributions, Capital Accounts

Common Units and
Participating Percentages

As of August 15, 2008

	 	 	 	 	 	 	 	 	 
	Name, Address, Phone	 	 	 	 	 	Participating	 
	and Fax of Member	 	Common Units	 	 	Percentage	 
	Dolan APC, LLC
	 	 	1,173,952	 	 	 	90.14	%
	c/o Dolan Media Company

1200 Baker Building

706 Second Avenue South

Minneapolis, Minnesota 55402

Phone: (612) 317-9425

Fax: (612) 317-9434

Attention: James P. Dolan
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	APC Investments, LLC
	 	 	104,905	 	 	 	8.05	%
	31440 Northwestern Highway Suite 200

Farmington Hills, MI 48334

Phone: (248) 642-2515

Fax: (248) 642-3628

Attention: David A. Trott
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Feiwell & Hannoy Professional Corporation
	 	 	23,560	 	 	 	1.81	%
	251 North Illinois Street, Suite 1700

Indianapolis, Indiana 46204

Phone: (317) 237-2727

Fax: (317) 237-2722

Attention: Douglas Hannoy and Michael
Feiwell
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	TOTAL:
	 	 	1,302,417	 	 	 	100.000	%

 

 

EXHIBIT A

List of Members, Capital Contributions, Capital Accounts

Common Units and
Participating Percentages

As of Closing of the NDEx Acquisition

	 	 	 	 	 	 	 	 	 
	Name, Address, Phone 	 	 	 	 	 	Participating	 
	and Fax of Member	 	Common Units	 	 	Percentage	 
	Dolan APC, LLC
	 	 	1,173,952	 	 	 	84.67	%
	c/o Dolan Media Company

1200 Baker Building

706 Second Avenue South

Minneapolis, Minnesota 55402

Phone: (612) 317-9425

Fax: (612) 317-9434

Attention: James P. Dolan
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	APC Investments, LLC
	 	 	104,905	 	 	 	7.57	%
	31440 Northwestern Highway Suite 200

Farmington Hills, MI 48334

Phone: (248) 642-2515

Fax: (248) 642-3628

Attention: David A. Trott
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Feiwell & Hannoy Professional Corporation
	 	 	23,560	 	 	 	1.70	%
	251 North Illinois Street, Suite 1700

Indianapolis, Indiana 46204

Phone: (317) 237-2727

Fax: (317) 237-2722

Attention: Douglas Hannoy and Michael Feiwell
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Barrett Daffin Frappier Turner & Engel, LLP
	 	 	1,801	 	 	 	0.13	%
	15000 Surveyor Blvd., Suite 100

Addison, Texas 75001

Phone: (972) 386-5040

Fax: (972) 341-5024

Attention: Michael C. Barrett, Chairman
	 	 	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 
	Name, Address, Phone 	 	 	 	 	 	Participating	 
	and Fax of Member	 	Common Units	 	 	Percentage	 
	Michael C.
Barrett and Jacqueline M. Barrett,
	 	 	34,609	 	 	 	2.50	%
	JTWROS

5941 Club Oaks Drive

Dallas, Texas 75248

Phone: (972) 341-0512

Fax: (972) 341-0601
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Robert F. Frappier
	 	 	14,899	 	 	 	1.07	%
	1735 North Blvd.

Houston, Texas 77098

Phone: (713) 693-2002

Fax: (713) 621-2179
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	James C. Frappier and Judith A. Frappier,
	 	 	5,714	 	 	 	0.41	%
	JTWROS

4308 Mossey Oak Court

Flower Mound, Texas 75022

Phone: (214) 668-0303

Fax: (972) 341-5024
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Mary A. Daffin
and Maynard Samuel Daffin, Sr.,
	 	 	14,899	 	 	 	1.07	%
	Tenants in Common

11750 Gallant Ridge Lane

Houston, Texas 77082

Phone: (281) 596-8733

Fax: (281) 596-8462
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Barry Tiedt and Terri Tiedt, JTWROS
	 	 	5,714	 	 	 	0.41	%
	921 Genoa Court

Argyle, Texas 76226

Phone: (972) 341-0572

Fax: (972) 341-0679
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Abbe L. Patton and Lisle D. Patton, JTWROS
	 	 	5,714	 	 	 	0.41	%
	6016 Pinnacle Cr.

Little Elm, Texas 75068

Phone: (972) 341-0506

Fax: (972) 341-0678
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	Brian S. Engel
	 	 	393	 	 	 	0.03	 
	P.O. Box 76

Driftwood, TX 78619

Phone: (512) 477-0008

Fax: (512) 477-1112
	 	 	 	 	 	 	 	 

 

 

	 	 	 	 	 	 	 	 	 
	Name, Address, Phone 	 	 	 	 	 	Participating	 
	and Fax of Member	 	Common Units	 	 	Percentage	 
	Steve P. Turner and Marsha L. Turner,
	 	 	394	 	 	 	0.03	 
	Tenants in Common

10002 Brandywine Circle

Austin, TX 78750

Phone: (512) 477-0008

Fax: (512) 477-1112
	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	TOTAL:
	 	 	1,386,554	 	 	 	100.000	%exv10w1

    Exhibit 10.1

 

    STOCKHOLDERS’
    AGREEMENT

 

    This STOCKHOLDERS’ AGREEMENT (this “Agreement”),
    is dated as of September 1, 2008, by and between Teradyne,
    Inc., a Massachusetts corporation (“Parent”) and the
    stockholders listed on the signature pages hereto (each a
    “Stockholder” and collectively, the
    “Stockholders”).

 

    W I T N E
    S S E T H: 

 

    WHEREAS, Parent, Turin Acquisition Corp., a Delaware corporation
    and a direct wholly owned subsidiary of Parent (“Merger
    Sub”), and Eagle Test Systems, Inc., a Delaware corporation
    (the “Company”), are entering into an Agreement and
    Plan of Merger, dated as of the date hereof (as it may be
    amended from time to time in accordance with its terms, the
    “Merger Agreement”), providing for, among other
    things, the merger of Merger Sub with and into the Company with
    the Company surviving the merger as a wholly owned subsidiary of
    Parent, in each case, on the terms and subject to the conditions
    set forth in therein (capitalized terms used herein and not
    otherwise defined shall have the meanings ascribed to such terms
    in the Merger Agreement); and

 

    WHEREAS, as of the date hereof, each Stockholder is the record
    and beneficial owner of the number of shares of Common Stock set
    forth, and in the manner reflected, on Attachment A
    hereto (the “Owned Shares”); and

 

    WHEREAS, as a condition to each of Parent and Merger Sub’s
    willingness to enter into and perform their respective
    obligations under the Merger Agreement, Parent and Merger Sub
    have required that each Stockholder agree, and each Stockholder
    has agreed, (i) to vote all of such Stockholder’s
    Owned Shares as well as any shares of Common Stock acquired by
    such Stockholder after the execution of this Agreement (all of
    which, after so acquired, shall constitute “Owned
    Shares”), whether upon the exercise of options, conversion
    of convertible securities or otherwise, and any other voting
    securities of the Company (whether acquired heretofore or
    hereafter) that are beneficially owned by such Stockholder or
    over which such Stockholder has, directly or indirectly, the
    right to vote (collectively, the “Voting Shares”) in
    favor of any proposal in furtherance of the Merger Agreement or
    the transactions contemplated thereby, including the Merger, and
    (ii) to take the other actions described herein; and

 

    WHEREAS, each Stockholder desires to express its support for the
    Merger Agreement and the transactions contemplated thereby,
    including the Merger, by executing this Agreement; and

 

    NOW, THEREFORE, in consideration of the foregoing and for other
    good and valuable consideration given to each party hereto, the
    receipt of which is hereby acknowledged, the parties agree as
    follows:

 

    1. Agreement to Vote; Irrevocable Proxy.

 

    1.1 Agreement to Vote.  Each
    Stockholder hereby agrees that, during the time this Agreement
    is in effect, at any meeting of the stockholders of the Company,
    however called, or any adjournment or postponement thereof, such
    Stockholder shall be present (in person or by proxy) and vote
    (or cause to be voted) all of its Voting Shares (a) in
    favor of the adoption of the Merger Agreement and
    (b) against any Alternative Proposal and against any action
    or agreement that would delay, prevent, impede or impair the
    ability of Parent and Merger Sub to complete the Merger or the
    ability of the Company to consummate the Merger or the
    transactions contemplated by the Merger Agreement.

 

    1.2 Irrevocable Proxy.  Solely with
    respect to the matters described in Section 1.1, for so
    long as this Agreement has not terminated in accordance with
    Section 5.1, each Stockholder hereby irrevocably appoints
    Parent (or any nominee of Parent) as its attorney and proxy with
    full power of substitution and resubstitution, to the full
    extent of such Stockholder’s voting rights with respect to
    such Stockholder’s Voting Shares (which proxy is
    irrevocable and which appointment is coupled with an interest,
    including for purposes of Section 212 of the Delaware
    General Corporation Law) to vote all such Stockholder’s
    Voting Shares solely

 

    on the matters described in Section 1.1, and in accordance
    therewith. Each Stockholder hereby revokes any proxies
    previously granted that would otherwise conflict with the proxy
    contemplated pursuant to this Section 1.2 and agrees to
    execute any further agreement or form reasonably necessary or
    appropriate to confirm and effectuate the grant of the proxy
    contained herein. Such proxy shall automatically terminate upon
    the valid termination of this Agreement in accordance with
    Section 5.1.

 

    2. Representations and Warranties of
    Stockholders.  Each Stockholder hereby
    represents and warrants to Parent as follows:

 

    2.1 Due Organization.  Such
    Stockholder, if a corporation or other entity, has been duly
    organized, is validly existing and is in good standing under the
    laws of the state of its formation or organization.

 

    2.2 Power; Due Authorization; Binding
    Agreement.  Such Stockholder has full legal
    capacity, power and authority to execute and deliver this
    Agreement, to perform its obligations hereunder and to
    consummate the transactions contemplated hereby. This Agreement
    has been duly and validly executed and delivered by such
    Stockholder and constitutes a valid and binding agreement of
    such Stockholder, enforceable against Stockholder in accordance
    with its terms, except to the extent that enforceability may be
    subject to the effect of any applicable bankruptcy,
    reorganization, insolvency, moratorium or other similar laws
    affecting or relating to the enforcement of creditors rights
    generally and to general principles of equity.

 

    2.3 Ownership of Shares.  On the
    date hereof, the Owned Shares set forth opposite such
    Stockholder’s name on Attachment A hereto are owned
    of record or beneficially by such Stockholder in the manner
    reflected thereon and include all of the Voting Shares owned of
    record or beneficially by such Stockholder, free and clear of
    any claims, liens, encumbrances and security interests, except
    (if applicable) as set forth on Attachment A hereto,
    which encumbrances or other items do not affect in any respect
    the ability of such Stockholder to perform such
    Stockholder’s obligations hereunder. As of the date hereof
    such Stockholder has, and at all times prior to the valid
    termination of this Agreement in accordance with
    Section 5.1 such Stockholder will have (except as otherwise
    permitted by this Agreement), sole voting power (to the extent
    such securities have voting power) and sole dispositive power
    with respect to all of the Owned Shares, except as otherwise
    reflected on Attachment A.

 

    2.4 No Conflicts.  The execution
    and delivery of this Agreement by such Stockholder does not, and
    the performance of the terms of this Agreement by such
    Stockholder will not, (a) require such Stockholder to
    obtain the consent or approval of, or make any filing with or
    notification to, any governmental or regulatory authority,
    domestic or foreign, (b) require the consent or approval of
    any other person or entity pursuant to any agreement, obligation
    or instrument binding on such Stockholder or its properties and
    assets, (c) conflict with or violate any organizational
    document or law, rule, regulation, order, judgment or decree
    applicable to such Stockholder or pursuant to which any of its
    or its affiliates’ respective properties or assets are
    bound or (d) violate any other agreement to which such
    Stockholder or any of its affiliates is a party including,
    without limitation, any voting agreement, stockholders
    agreement, irrevocable proxy or voting trust. The Voting Shares
    are not, with respect to the voting or transfer thereof, subject
    to any other agreement, including any voting agreement,
    stockholders agreement, irrevocable proxy or voting trust.

 

    2.5 Acknowledgment.  Such
    Stockholder understands and acknowledges that each of Parent and
    Merger Sub is entering into the Merger Agreement in reliance
    upon such Stockholder’s execution, delivery and performance
    of this Agreement.

 

    3. Representations and Warranties of
    Parent.  Parent hereby represents and warrants
    to the Stockholders as follows:

 

    3.1 Power; Due Authorization; Binding
    Agreement.  Parent is a corporation duly
    organized, validly existing and in good standing under the laws
    of the Commonwealth of Massachusetts. Parent has full corporate
    power and authority to execute and deliver this Agreement, to
    perform its obligations hereunder and to consummate the
    transactions contemplated hereby. The execution and delivery of
    this Agreement and the consummation by Parent of the
    transactions contemplated hereby have been duly and validly
    authorized by all necessary corporate action on the part of
    Parent, and no other proceedings on the part of Parent are
    necessary to authorize this Agreement or to consummate the
    transactions contemplated hereby. This Agreement has been

    

    2

 

    duly and validly executed and delivered by Parent and
    constitutes a valid and binding agreement of Parent, except that
    enforceability may be subject to the effect of any applicable
    bankruptcy, reorganization, insolvency, moratorium or other
    similar laws affecting or relating to the enforcement of
    creditors rights generally and to general principles of equity.

 

    3.2 No Conflicts.  The execution
    and delivery of this Agreement by Parent does not, and the
    performance of the terms of this Agreement by Parent will not,
    (a) require Parent to obtain the consent or approval of, or
    make any filing with or notification to, any governmental or
    regulatory authority, domestic or foreign or (b) conflict
    with or violate any organizational document or law, rule,
    regulation, order, judgment or decree applicable to Parent or
    pursuant to which any of its or its subsidiaries’
    respective assets are bound.

 

    4. Certain Covenants of the
    Stockholders.  Each Stockholder hereby
    covenants and agrees with Parent as follows:

 

    4.1 Restriction on Transfer, Proxies and
    Non-Interference.  Each Stockholder hereby
    agrees, while this Agreement is in effect, at any time prior to
    the Effective Time, and otherwise as is contemplated by the
    Merger Agreement, not to (a) other than as may be
    specifically required by a court order, which such Stockholder
    shall use its reasonable best efforts to avoid (including by
    offering substitute consideration or property) and provided
    further that such Stockholder shall use reasonable best efforts
    to cause any such Voting Shares to be transferred subject to
    this Agreement, sell, transfer, pledge, encumber (except as set
    forth on Attachment A or due to this Agreement), assign
    or otherwise dispose of (including, without limitation, by gift,
    merger, consolidation or reorganization), or enter into any
    contract, option or other arrangement or understanding with
    respect to the sale, transfer, pledge, encumbrance, assignment
    or other disposition of, or limitation on the voting rights of,
    any of the Voting Shares (any such action, a
    “Transfer”), provided that nothing in this Agreement
    shall prohibit the exercise by such Stockholder of any options
    to purchase Voting Shares, (b) grant any proxies or powers
    of attorney, deposit any Voting Shares into a voting trust or
    enter into a voting agreement with respect to any Voting Shares,
    (c) take any action that would cause any representation or
    warranty of such Stockholder contained herein to become untrue
    or incorrect or have the effect of preventing or disabling
    Stockholder from performing its obligations under this
    Agreement, or (d) commit or agree to take any of the
    foregoing actions. Any action taken in violation of the
    foregoing sentence shall be null and void ab initio and each
    Stockholder agrees that any such prohibited action may and
    should be enjoined. If any involuntary Transfer of any of the
    Voting Shares shall occur (including, but not limited to, a sale
    by a Stockholder’s trustee in any bankruptcy, or a sale to
    a purchaser at any creditor’s or court sale or any sale or
    transfer by operation of law, including, without limitation, by
    will or intestacy), the transferee (which term, as used herein,
    shall include any and all transferees and subsequent transferees
    of the initial transferee) shall take and hold such Voting
    Shares subject to all of the restrictions, liabilities and
    rights under this Agreement, which shall continue in full force
    and effect until valid termination of this Agreement.

 

    4.2 Additional Shares.  Each
    Stockholder hereby agrees, while this Agreement is in effect,
    that any shares of Common Stock acquired by such Stockholder
    after the date hereof shall be subject to the terms of this
    Agreement as though owned by such Stockholder on the date hereof.

 

    4.3 No Limitations on
    Actions.  Each Stockholder signs this
    Agreement solely in its capacity as the record
    and/or
    beneficial owner, as applicable, of the Owned Shares; any
    trustee who signs this Agreement on behalf of a Stockholder that
    is a trust is signing only in his fiduciary capacity and not as
    an individual; this Agreement shall not limit or otherwise
    affect the actions of such Stockholder or any affiliate,
    employee or designee of such Stockholder or any of its
    affiliates in any other capacity, including such person’s
    capacity, if any, as an officer of the Company or a member of
    the board of directors of the Company; and nothing herein shall
    limit or affect the Company’s rights in connection with the
    Merger Agreement.

 

    4.4 No Solicitation.  Each
    Stockholder agrees, while this Agreement is in effect, not to
    directly or indirectly engage in any activity which would be
    prohibited pursuant to Section 5.2(a) of the Merger
    Agreement if engaged in by the Company.

 

    4.5 Disclosure.  Each Stockholder
    hereby permits Parent or the Company to publish and disclose in
    any proxy materials (including, but not limited to, all
    documents and schedules filed with the Securities and

    

    3

 

    Exchange Commission) its identity and ownership of shares of
    Common Stock and the terms of this Agreement.

 

    4.6 Further Assurances.  From time
    to time, at the request of Parent and without further
    consideration, each Stockholder shall execute and deliver such
    additional documents and take all such further action as may be
    necessary or reasonably desirable to consummate and make
    effective the transactions contemplated by this Agreement.

 

    5. Miscellaneous.

 

    5.1 Termination of this
    Agreement.  This Agreement shall terminate
    upon the earlier to occur of (i) the termination of the
    Merger Agreement in accordance with its terms, or (ii) the
    consummation of the Merger.

 

    5.2 Effect of Termination.  In the
    event of termination of this Agreement pursuant to
    Section 5.1, this Agreement shall become void and of no
    effect with no liability on the part of any party hereto;
    provided, however, no such termination shall relieve any party
    hereto from any liability for any breach of this Agreement
    occurring prior to such termination; and provided, further, that
    upon payment of the Termination Fee (as defined in the Merger
    Agreement) Stockholder shall have no further liability with
    respect to this Agreement or the transactions contemplated
    hereby.

 

    5.3 Non-Survival.  The
    representations and warranties made herein shall not survive the
    termination of this Agreement.

 

    5.4 Entire Agreement;
    Assignment.  This Agreement constitutes the
    entire agreement among the parties with respect to the subject
    matter hereof and supersedes all other prior agreements and
    understandings, both written and oral, among the parties with
    respect to the subject matter hereof. Nothing in this Agreement,
    express or implied, is intended to or shall confer upon any
    other person or entity any right, benefit or remedy of any
    nature whatsoever under or by reason of this Agreement. This
    Agreement shall not be assigned by operation of law or otherwise
    and shall be binding upon and inure solely to the benefit of
    each party hereto.

 

    5.5 Amendments.  This Agreement may
    not be modified, amended, altered or supplemented, except upon
    the execution and delivery of a written agreement executed by
    each of the parties hereto.

 

    5.6 Notices.  Any notice required
    to be given hereunder shall be sufficient if in writing, and
    sent by facsimile transmission (provided that any notice
    received by facsimile transmission or otherwise at the
    addressee’s location on any Business Day after
    5:00 p.m. (addressee’s local time) shall be deemed to
    have been received at 9:00 a.m. (addressee’s local
    time) on the next Business Day), by reliable overnight delivery
    service (with proof of service), hand delivery or certified or
    registered mail (return receipt requested and first-class
    postage prepaid), addressed as follows:

 

    If to the Stockholders:

 

    TA Associates, Inc.

    John Hancock Tower, 56th Floor

    200 Clarendon Street

    Boston, MA 02116

    Fax:
    (617) 574-6728

 

    If to Parent:

 

    Teradyne, Inc.

    700 Riverpark Drive

    North Reading, Mass. 01864

    Attention: Eileen Casal, V.P. & General Counsel

    Fax:
    (978) 370-2290

    

    4

 

 

    with copy to:

 

    WilmerHale LLP

    60 State Street

    Boston, Mass 02109

    Attention: Jay E. Bothwick, Esq.

    Fax:
    617-526-5000

 

    or to such other address as any party shall specify by written
    notice so given, and such notice shall be deemed to have been
    delivered as of the date so telecommunicated, personally
    delivered or received. Any party to this Agreement may notify
    any other party of any changes to the address or any of the
    other details specified in this paragraph; provided, however,
    that such notification shall only be effective on the date
    specified in such notice or two Business Days after the notice
    is given, whichever is later. Rejection or other refusal to
    accept or the inability to deliver because of changed address of
    which no notice was given shall be deemed to be receipt of the
    notice as of the date of such rejection, refusal or inability to
    deliver.

 

    5.7 Governing Law; Venue.  

 

    (a) This Agreement shall be governed by, and construed in
    accordance with, the Laws of the State of Delaware, without
    giving effect to conflicts of laws principles that would result
    in the application of the Law of any other state.

 

    (b) Each of the parties hereto hereby irrevocably and
    unconditionally submits, for itself and its property, to the
    exclusive jurisdiction of the Delaware Court of Chancery, or, if
    no such state court has proper jurisdiction, the Federal court
    of the United States of America, sitting in Delaware, and any
    appellate court from any thereof, in any action or proceeding
    arising out of or relating to this Agreement or the transactions
    contemplated hereby or for recognition or enforcement of any
    judgment relating thereto, and each of the parties hereby
    irrevocably and unconditionally (i) agrees not to commence
    any such action or proceeding except in such courts;
    (ii) agrees that any claim in respect of any such action or
    proceeding may be heard and determined in such Delaware Court of
    Chancery or, if no such state court has proper jurisdiction,
    then in such Federal court; (iii) waives, to the fullest
    extent it may legally and effectively do so, any objection which
    it may now or hereafter have to the laying of venue of any such
    action or proceeding in any such Delaware Court of Chancery or
    Federal court; and (iv) waives, to the fullest extent
    permitted by Law, the defense of an inconvenient forum to the
    maintenance of such action or proceeding in any such Delaware
    Court of Chancery or Federal court. Each of the parties hereto
    agrees that a final judgment in any such action or proceeding
    shall be conclusive and may be enforced in other jurisdictions
    by suit on the judgment or in any other manner provided by Law.
    Each party to this Agreement irrevocably consents to service of
    process in the manner provided for notices in Section 5.6.
    Nothing in this Agreement will affect the right of any party to
    this Agreement to serve process in any other manner permitted by
    Law. Each party hereto agrees not to commence any legal
    proceedings relating to or arising out of this Agreement or the
    Transactions in any jurisdiction or courts other than as
    provided herein.

 

    5.8 WAIVER OF JURY TRIAL.  EACH
    PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT
    MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION
    DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS
    AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT:
    (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY
    HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY
    WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE SUCH
    WAIVER; (B) IT UNDERSTANDS AND HAS CONSIDERED THE
    IMPLICATIONS OF SUCH WAIVER; (C) IT MAKES SUCH WAIVER
    VOLUNTARILY; AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS
    AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND
    CERTIFICATIONS IN THIS SECTION 5.8.

 

    5.9 Specific Performance.  The
    parties agree that irreparable damage would occur in the event
    that any of the provisions of this Agreement were not performed
    in accordance with its specific terms or were otherwise
    breached. Each Stockholder agrees that, in the event of any
    breach or threatened breach by such

    

    5

 

    Stockholder of any covenant or obligation contained in this
    Agreement, Parent shall be entitled (in addition to any other
    remedy that may be available to it, including monetary damages)
    to seek and obtain (a) a decree or order of specific
    performance to enforce the observance and performance of such
    covenant or obligation, and (b) an injunction restraining
    such breach or threatened breach. Each Stockholder further
    agrees that neither Parent nor any other person or entity shall
    be required to obtain, furnish or post any bond or similar
    instrument in connection with or as a condition to obtaining any
    remedy referred to in this Section 5.9, and each
    Stockholder irrevocably waives any right it may have to require
    the obtaining, furnishing or posting of any such bond or similar
    instrument.

 

    5.10 Counterparts.  This Agreement
    may be executed in two or more counterparts, each of which shall
    be deemed an original but all of which together shall be
    considered one and the same agreement and shall become effective
    when counterparts have been signed by each of the parties hereto
    and delivered to the other parties, it being understood that all
    parties need not sign the same counterpart. This Agreement may
    be executed and delivered by facsimile transmission.

 

    5.11 Descriptive Headings.  The
    descriptive headings used herein are inserted for convenience of
    reference only and are not intended to be part of or to affect
    the meaning or interpretation of this Agreement.

 

    5.12 Severability.  Any term or
    provision of this Agreement that is invalid or unenforceable in
    any situation in any jurisdiction shall not affect the validity
    or enforceability of the remaining terms and provisions hereof
    or the validity or enforceability of the offending term or
    provision in any other situation or in any other jurisdiction.
    If the final judgment of a court of competent jurisdiction
    declares that any term or provision hereof is invalid or
    unenforceable, the parties hereto agree that the court making
    such determination shall have the power to limit the term or
    provision, to delete specific words or phrases, or to replace
    any invalid or unenforceable term or provision with a term or
    provision that is valid and enforceable and that comes closest
    to expressing the intention of the invalid or unenforceable term
    or provision, and this Agreement shall be enforceable as so
    modified. In the event such court does not exercise the power
    granted to it in the prior sentence, the parties hereto agree to
    replace such invalid or unenforceable term or provision with a
    valid and enforceable term or provision that will achieve, to
    the extent possible, the economic, business and other purposes
    of such invalid or unenforceable term.

 

    [Remainder
    of Page Intentionally Blank]

    

    

    6

 

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

 

    TERADYNE, INC.

 

			
	 	    By: 
	
    /s/  Michael
    A. Bradley

    Name:     Michael A. Bradley

			
	 	    Title: 
	
    President and CEO

 

    TA IX L.P.

 

			
	 	    By: 
	
    TA Associates IX
    LLC, its General Partner

    By: TA Associates, Inc., its Manager

 

			
	 	    By: 
	
    /s/  Michael
    C. Child

    Name:     Michael C. Child

			
	 	    Title: 
	
    Managing Director

 

    TA/ATLANTIC AND PACIFIC IV L.P.

 

    By: TA
    Associates AP IV L.P., its General Partner

			
	 	    By: 
	
    TA Associates,
    Inc., its General Partner

	 
	 	    By: 
	
    /s/  Michael
    C. Child

    Name:     Michael C. Child

			
	 	    Title: 
	
    Managing Director

 

    TA STRATEGIC PARTNERS FUND A L.P.

 

			
	 	    By: 
	
    TA Associates SPF
    L.P., its General Partner

	 	    By: 
	
    TA Associates,
    Inc., its General Partner

	 
	 	    By: 
	
    /s/  Michael
    C. Child

    Name:     Michael C. Child

			
	 	    Title: 
	
    Managing Director

 

    TA STRATEGIC PARTNERS FUND B L.P.

 

			
	 	    By: 
	
    TA Associates SPF
    L.P., its General Partner

    By: TA Associates, Inc., its General Partner

 

			
	 	    By: 
	
    /s/  Michael
    C. Child

    Name:     Michael C. Child

			
	 	    Title: 
	
    Managing Director

 

    TA INVESTORS LLC

 

			
	 	    By: 
	
    TA Associates,
    Inc., its Manager

	 
	 	    By: 
	
    /s/  Michael
    C. Child

    Name:     Michael C. Child

			
	 	    Title: 
	
    Managing Director

 

    TA SUBORDINATED DEBT FUND, L.P.

 

			
	 	    By: 
	
    TA Associates SDF
    LLC, its General Partner

	 	    By: 
	
    TA Associates,
    Inc., its Manager

	 
	 	    By: 
	
    /s/  Michael
    C. Child

    Name:     Michael C. Child

			
	 	    Title: 
	
    Managing Director

 

    ATTACHMENT
    A

 

    Details
    of Ownership

 

	 	 	 
	

    Shares

	
 
	

    Entity or Individual Name

	 

	

    4,372,014

	
 
	
    TA IX L.P.

	

    1,234,603

	
 
	
    TA/Atlantic and Pacific IV L.P.

	

    89,492

	
 
	
    TA Strategic Partners Fund A L.P.

	

    16,060

	
 
	
    TA Strategic Partners Fund B L.P.

	

    347,527

	
 
	
    TA Investors LLC

	

    94,388

	
 
	
    TA Subordinated Debt Fund, L.P.

	

    6,154,084

	
 
	
    TOTAL

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00147-of-00352.parquet"}]]