Document:

Exhibit 4.2

 

Amended and Restated Investor
Rights Agreement
dated as of February 3, 2006 (this “Agreement”) among:

 

(i)                                     H&E Equipment Services, Inc., a Delaware corporation (the “Company”);

 

(ii)                                  the Persons identified on the signature pages hereto
as the “BRS Investors”,
together with such additional Persons who become BRS Investors in accordance
with the provisions of this Agreement; and

 

(iii)                               the Persons identified on the signature pages hereto
as the “CSFB-TCW Investors”.

 

The
Company, the BRS Investors and the CSFB-TCW Investors are herein together
referred to as the “Parties”.

 

Recitals

 

A.                                   On the date hereof, and pursuant to the
Agreement and Plan of Merger dated as of February 2, 2006 (the “Agreement
and Plan of Merger”) among the Company, H&E Holdings L.L.C., a Delaware
limited liability company (“H&E Holdings”), H&E Equipment
Services L.L.C., a Louisiana limited liability company, H&E Holdings will
be merged with and into the Company, with the Company as the surviving
corporation (the “Merger”).

 

B.                                     Prior to the Merger, H&E Holdings, the
BRS Investors and the CSFB-TCW Investors are the holders of “Class A
Common Units”, “Class B Common Units” “Class A Preferred Units”, “Class B
Preferred Units”, “Class C Preferred Units” and “Class D Preferred
Units” (together, the “Units”), representing membership interests in
H&E Holdings and, pursuant to the Merger, their Units will be converted
into shares of the Common Stock, par value $0.01 per share (the “Common
Stock”), of the Company. Subsequent to the Merger, the number of shares of
the Common Stock which the BRS Investors and the CSFB-TCW Investors will
receive pursuant to the Merger in respect of their Units is set forth opposite
their names on Schedule A hereto.

 

C.                                     Prior to the Merger, H&E Holdings and the
holders of the membership interests in H&E Holdings, the BRS Investors and
the CSFB-TCW Investors are parties to the Investor Rights Agreement dated as of
June 17, 2002 (the “H&E Holdings Investor Rights Agreement”).

 

D.                                    The Company, the BRS Investors and the
CSFB-TCW Investors desire that this Agreement shall amend, restate and replace
the H&E Holdings Investor Rights Agreement.

 

 

Agreement

 

Now
therefore, in consideration of the mutual covenants herein contained and for
other good and valuable consideration, the parties hereto agree as follows:

 

1.                                       Definitions. As used herein, the following terms shall have the following
meanings:

 

“Affiliate”
means, when used with reference to a specified Person, any Person that directly
or indirectly controls or is controlled by or is under common control with the
specified Person. As used in this definition, “control” (including, with its
correlative meanings, “controlled by” and “under common control with”) shall
mean possession, directly or indirectly, of power to direct or cause the
direction of management or policies (whether through ownership of securities or
partnership or other ownership interests, by contract or otherwise). With
respect to any Person who is an individual, “Affiliates” shall also include,
without limitation, any member of such individual’s Family Group.

 

“Amended
and Restated Registration Rights Agreement” means the Amended and Restated
Registration Rights Agreement dated as of the date hereof among the Company and
the Persons identified therein as “Registrable Securities Holders”.

 

“Approved
Company Sale” means if BRS Majority Holders approve a sale of all or
substantially all of the Company’s assets determined on a consolidated basis or
a sale of all (or a lesser percentage, if necessary, as determined by BRS
Majority Holders for accounting, tax or other reasons) of the Company’s
outstanding Common Stock (in either case, whether by merger, recapitalization,
consolidation, reorganization, combination or otherwise) or any other
transaction which has the same effect as any of the foregoing, to an
Independent Third Party or group of Independent Third Parties. “Approved
Company Sale” shall not include the Merger.

 

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

 

“BRS
Investor” means the Persons identified as such on the signature pages to
this Agreement as such or any of their respective Permitted Transferees.

 

“BRS
Majority Holders” means, at any time, the holders of a majority of the
number of the BRS Securities that are Common Stock which are issued to the BRS
Investors pursuant to the Merger in respect of Units held by BRS Investors
prior to the Merger, including without limitation any Common Stock issued with
respect to such Common Stock by way of a stock split or combination or
recapitalization or reclassification of such Common Stock.

 

“BRS
Securities” means all Common Stock owned by any BRS Investor which are
issued to the BRS Investors pursuant to the Merger in respect of Units held by
the BRS Investors prior to the Merger, including without limitation any Common
Stock issued with respect to such Common Stock by way of a stock split or
combination or recapitalization or reclassification of such Common Stock.

 

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“Commission”
means the Securities and Exchange Commission.

 

“Common
Stock” means collectively the Common Stock, par value $0.01 per share, of
the Company and any other equity securities of the Company (or its successors)
that are not limited to a fixed sum or percentage of par value or stated value
in respect of the rights of the holders thereof to participate in dividends or
other distributions or in the distribution of assets upon any voluntary or
involuntary liquidation, dissolution or winding up of the issuer of such
securities.

 

“Current
Registration Statement” means the Registration Statement on Form S-1
filed by the Company with the Commission and effective as of January 30,
2006.

 

“Exempt
Transfer” means (i) transfers by any BRS Investor to its Related
Parties; (ii) transfers by any BRS Investor’s Related Parties to such BRS
Investor; (iii) transfers subsequent to the H&E Holdings Merger by BRS
Investors of any shares of Common Stock not to exceed, in the aggregate, 10% of
the number of shares of Common Stock owned by them as immediately following the
H&E Holdings Merger; (iv) distributions by a BRS Investor to its
constituent partners or members proportionate to their interest in the BRS
Investor; and (v) transfers by any BRS Investor or any of its Related
Parties in a Public Sale; provided, however, that no such transfer (except as
set forth in clause (v) above) shall be an Exempt Transfer unless
the transferee agrees in writing to be bound by this Agreement as if such
transferee were a BRS Investor with respect to such transferred units or
shares, as applicable, by executing a joinder agreement in the form of Exhibit
A hereto.

 

“Family
Group” means, with respect to any Person who is an individual, (i) such
Person’s spouse, former spouse, ancestors and descendants (whether natural or adopted),
parents and their descendants and any spouse of the foregoing persons
(collectively, “Relatives”), (ii) the trustee, fiduciary or
personal representative of such Person and any trust solely for the benefit of
such Person and/or such Person’s relatives or (iii) any limited
partnership, limited liability company or trust the governing instruments of
which provide that such Person shall have the exclusive, nontransferable power
to direct the management and policies of such entity and of which the sole
owners of partnership interests, membership interests or any other equity
interests are, and will remain, limited to such Person and such Person’s
relatives.

 

“Independent
Third Party” means any Person who, immediately prior to the contemplated
transaction, does not own in excess of 5% of the number of Common Stock on a
fully diluted basis (a “5% Owner”), who is not an Affiliate of any such
5% Owner and who is not a member of the Family Group of any such 5% Owner or a
trust for the benefit of any such 5% Owner and/or such other Persons.

 

“Notes”
means the 12 1/2% Senior Subordinated Notes due 2013 of the Company (as
successor to H&E Equipment Services L.L.C.) and H&E Finance Corp.

 

3

 

“Other
Securities” means the Common Stock owned by the Other Investors which are
issued to the Other Investors pursuant to the Merger in respect of Units held
by the Other Investors prior to the Merger.

 

“Other
Investor” means any of the Persons identified as such on Schedule B
hereto or any of their respective Permitted Transferees.

 

“Permitted
Transferee” means (i) with respect to any BRS Investor, any Person who
acquires Common Stock from such BRS Investor in an Exempt Transfer, and (ii) with
respect to the CSFB-TCW Investors, any Person who acquires Common Stock from
the CSFB-TCW Investors or from any of its Permitted Transferees; provided, that
the provisions of this Agreement shall no longer apply to any shares of Common
Stock that are sold in a Public Sale.

 

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

 

“Public
Offering” means an underwritten public offering and sale of equity
securities of the Company pursuant to an effective registration statement under
the Securities Act; provided, that a Public Offering shall not include an
offering made in connection with a business acquisition or combination pursuant
to a registration statement on Form S-4 or any similar form, or an
employee benefit plan pursuant to a registration statement on Form S-8 or
any similar form; provided further that an offering shall not be deemed a
Public Offering unless the Company’s equity securities are at the time listed
for trading on a national securities exchange or are authorized for trading on
the Nasdaq National Market System.

 

“Public
Sale” means any sale of Common Stock to the public pursuant to an offering
registered under the Securities Act or, after the consummation of an initial
Public Offering, to the public pursuant to the provisions of Rule 144 (or
any similar rule or rules then in effect) under the Securities Act.

 

“Related
Party” with respect to any BRS Investor means: (i) any parent,
controlling stockholder, or a more than 80% owned subsidiary of such BRS
Investor; (ii) any member of the Family Group of such BRS Investor; or (iii) any
trust, corporation, partnership or other entity, the beneficiaries,
stockholders, partners, owners or persons holding more than a 80% controlling
interest of which consist of such BRS Transferring Investor and/or such other
persons or entities referred to in the immediately preceding clauses (i) and
(ii).

 

“Registrable
Securities” means the Common Stock held by the CSFB-TCW Investors or any of
its Permitted Transferees and any successor securities which are issued to the
CSFB-TCW Investors pursuant to the Merger in respect of Units held by the
CSFB-TCW Investors prior to the Merger, including without limitation all equity
securities issued or issuable directly or indirectly with respect to such
Common Stock by way of a stock dividend or stock 

 

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split or combination or
recapitalization, merger, consolidation, reorganization or reclassification of
such Common Stock, other than equity securities issued in any Approved Company
Sale, but only until such time as such securities (i) have been
effectively registered under the Act and disposed of in accordance with the
Registration Statement covering it or (ii) have been sold to the public
pursuant to Rule 144 (or any similar provision then in force) under the
Act and the Legend referred to in Section 3(a) has been removed
from the certificate representing such security.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“TCW”
means collectively, TCW Leveraged Income Trust IV, L.P., TCW/Crescent Mezzanine
Partners III, L.P., TCW/Crescent Mezzanine Trust III and TCW/Crescent Mezzanine
Partners III Netherlands, L.P. and their respective Affiliates.

 

“Transfer”
means any direct or indirect sale, transfer, conveyance, assignment, pledge,
hypothecation, gift, delivery or other disposition or encumbrance.

 

2.                                       Legend.

 

(a)                                  Each certificate or instrument evidencing
Common Stock originally issued to the CSFB-TCW Investors pursuant to the Merger
and each certificate or instrument issued in exchange for or upon the Transfer
of any Common Stock originally issued to the CSFB-TCW Investors pursuant to the
Merger (if such securities remain Registrable Securities after such Transfer)
shall be stamped or otherwise imprinted with a legend in substantially the
following form:

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), AND MAY NOT
BE SOLD OR TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
UNDER THE ACT OR AN EXEMPTION FROM REGISTRATION THEREUNDER. THE SECURITIES
REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO AN AMENDED AND RESTATED INVESTOR
RIGHTS AGREEMENT DATED AS OF FEBRUARY 3, 2006, AS SUCH AMENDED AND
RESTATED INVESTOR RIGHTS AGREEMENT MAY BE AMENDED FROM TIME TO TIME, BY
AND AMONG THE ISSUER AND CERTAIN HOLDERS OF THE COMMON STOCK OF THE ISSUER. THE
HOLDER HEREOF IS ENTITLED TO THE BENEFITS OF AND IS SUBJECT TO THE TERMS AND
CONDITIONS OF THE AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT. A COPY OF
SUCH AMENDED AND RESTATED INVESTOR RIGHTS AGREEMENT WILL BE FURNISHED WITHOUT
CHARGE BY THE ISSUER TO THE HOLDER HEREOF UPON WRITTEN REQUEST.”

 

(b)                                 The legend set forth above regarding this
Agreement shall be removed from the certificates evidencing any securities
which cease to be Registrable Securities. Upon the request of any holder of
Registrable Securities, the Company shall remove the Securities Act portion of
the legend set forth above from the certificate or certificates for such
Registrable Securities (if such Registrable Securities are certificated as of
such time); provided, that such Common Stock is eligible (as reasonably
determined by the Company in reliance upon an 

 

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opinion of counsel to the
holder of the Registrable Securities) for sale pursuant to Rule 144(k) (or
any similar rule or rules then in effect) under the Securities Act.

 

3.                                       Registration Rights.

 

(a)                                  Piggyback Registration Rights.

 

(i)                                     Right to Piggyback. Subject to the last sentence of this subsection (i),
whenever the Company proposes to register any equity securities (or securities
convertible into or exchangeable for, or options to acquire, equity securities)
with the Commission under the Act and the registration form to be used may be
used for the registration of the Registrable Securities (a “Piggyback
Registration”), other than pursuant to the Current Registration Statement,
the Company will give written notice to the holders of Registrable Securities,
at least 30 days prior to the anticipated filing date, of its intention to
effect such a registration, which notice will specify the proposed offering
price (if available), the kind and number of securities proposed to be
registered, the distribution arrangements and such other information that at the
time would be appropriate to include in such notice, and will, subject to subsection (a)(ii) below,
include in such Piggyback Registration all Registrable Securities with respect
to which the Company has received written requests for inclusion therein within
20 business days after the effectiveness of the Company’s notice. Except as may
otherwise be provided in this Agreement, and other than in connection with the
Current Registration Statement, Registrable Securities with respect to which
such request for registration has been received will be registered by the
Company and offered to the public in a Piggyback Registration pursuant to this Section 3
on the terms and conditions at least as favorable as those applicable to the
registration of shares of equity securities (or securities convertible into or
exchangeable or exercisable for equity securities) to be sold by the Company
and by any other person selling under such Piggyback Registration.

 

(ii)                                  Priority on Piggyback Registrations. If the managing underwriter or
underwriters, if any, advise the holders of Registrable Securities in writing
that in its or their reasonable opinion that the number or kind of securities
proposed to be sold in such registration (including Registrable Securities to
be included pursuant to subsection (a)(i) above) will
materially adversely affect the success of such offering, the Company will
include in such registration the number of securities, if any, which, in the
opinion of such underwriter or underwriters, or the Company, as the case may
be, can be sold as follows: (A) first, the securities the Company proposes
to sell, (B) second, the securities proposed to be sold by Persons
initially requesting such registration, if any (other than any BRS Investor),
and (C) third, the securities proposed to be sold by any BRS Investor and
the Registrable Securities requested to be included in such registration by the
holders of Registrable Securities and all other Persons having registration
rights with respect to such offering. To the extent that the privilege of
including Registrable Securities in any Piggyback Registration must be
allocated among the holders of Registrable Securities and other Persons
pursuant to clause (B) or (C) above, the allocation shall be made pro
rata based on the number of Registrable Securities that each such participant
shall have requested to include therein or proposed to be sold by any BRS
Investor, as the case may be. If any holder of Registrable Securities is
excluded as a result of the

 

6

 

foregoing restrictions from
registration, then such holder shall be entitled to sell, on a pro rata basis,
the excluded Registrable Securities, prior to any other Registrable Securities,
pursuant to the underwriters’ over-allotment option.

 

(iii)                               Selection of Underwriters. If any Piggyback Registration is an
underwritten offering, the Company will select a managing underwriter or
underwriters to administer the offering, which managing underwriter or
underwriters will be of nationally recognized standing.

 

(b)                                 Demand Registration Rights.

 

(i)                                     Right to Demand by the Holders of Registrable
Securities. On any two
occasions after 180 days after the first Public Offering, the holders of
Registrable Securities holding 33% or more (singly or collectively) of the
Registrable Securities (collectively, a “Demanding Group”) may, make a
written request of the Company for registration with the Commission, under and
in accordance with the provisions of the Act, of all or part of their Registrable
Securities (a “Demand Registration”); provided, that (a) the
Company need not effect a Demand Registration unless such Demand Registration
shall include at least 50% of the Registrable Securities held on the date of
such written request by the Demanding Group, (b) the Company will not be
obligated to effect any Demand Registration within 180 days of the
effectiveness of another registration statement, (c) the Company may, if
the Board unanimously determines in the exercise of its reasonable judgment that
to effect such Demand Registration at such time would have a material adverse
effect on the Company, defer such Demand Registration for a single period not
to exceed 90 days, and (c) if the Company elects to defer any Demand
Registration pursuant to the terms of this sentence, no Demand Registration
shall be deemed to have occurred for purposes of this Agreement. Within 10 days
after receipt of the request for a Demand Registration, the Company will send
written notice (the “Notice”) of such registration request and its
intention to comply therewith to each of the holders of Registrable Securities
who are holders of Registrable Securities and, subject to subsection (iii) below,
the Company will include in such registration all Registrable Securities of such
holder of Registrable Securities with respect to which the Company has received
written requests for inclusion therein within 20 business days after the
effectiveness of the Notice. All requests made pursuant to this subsection
(b)(i) will specify the aggregate number of Registrable Securities
requested to be registered and will also specify the intended methods of
disposition thereof.

 

(ii)                                  Priority on Demand Registrations. If in any Demand Registration, the managing
underwriter or underwriters thereof advise the Company in writing that in its
or their reasonable opinion the number of securities proposed to be sold in
such Demand Registration exceeds the number that can be sold in such offering
without having a material effect on the success of the offering (including,
without limitation, an impact on the selling price or the number of securities
that any participant may sell), the Company will include in such registration
only the number of securities that, in the reasonable opinion of such
underwriter or underwriters (or holders of Registrable Securities, as the case
may be) can be sold without having a material adverse effect on the success of
the offering

 

7

 

as follows: (A) first,
the Registrable Securities requested to be included in such Demand Registration
by the holders of Registrable Securities pro rata among those requesting to be
included in such Registration on the basis of the number of securities
requested to be included, (B) second, the securities requested to be
included in such Demand Registration by all other Persons having registration
rights with respect thereto pro rata among those requesting such Registration
on the basis of the number of securities requested to be included, and (C) third,
securities to be issued and sold by the Company.

 

(iii)                               Selection of Underwriters. If a Demand Registration is an underwritten
offering, the holders of a majority of the Registrable Securities to be
included in such Demand Registration held by members of the Demanding Group
that initiated such Demand Registration will select a managing underwriter or
underwriters of recognized national standing to administer the offering.

 

(iv)                              Effective Registration Statement. A demand registration requested pursuant to
this Section 3(b) shall not be deemed to have been effected (i) unless
a registration statement with respect thereto has become effective; provided,
however, that if such registration does not become effective after the Company
has filed it solely by reason of the refusal to proceed by the requesting
holders of Registrable Securities (other than a refusal to proceed based upon
the advice of counsel relating to a matter with respect to the Company), then
such registration shall be deemed to have been effected unless such requesting
holders shall have elected to pay all registration expenses referred to in Section
3(e) hereof in connection with such registration, (ii) if, after the
registration statement that relates to such registration has become effective,
such registration statement becomes subject to any stop order, injunction or
requirement of the Commission or other governmental agency or court for any
reason and such stop order, injunction or requirement is not promptly withdrawn
or lifted, or (iii) the conditions to closing specified in the purchase
agreement or underwriting agreement entered into in connection with such
registration are not satisfied, other than by reason of some act or omission by
such requesting holders.

 

(c)                                  Registration Procedures. With respect to any Piggyback Registration
or Demand Registration (generically, a “Registration”), the Company
will, subject to Sections 3(a)(ii) and 3(b)(iii), as expeditiously
as practicable:

 

(i)                                     prepare and file with the Commission, within
90 days after mailing the applicable Notice, a registration statement or
registration statements, on Form S-3, if available, (the “Registration
Statement”) relating to the applicable Registration on any appropriate form
under the Act, which form shall be available for the sale of the Registrable
Securities in accordance with the intended method or methods of distribution
thereof; provided that the Company will include in any Registration Statement
on a form other than Form S-1 all information that the holders of the
Registrable Securities so to be registered shall reasonably request, (provided
that such information is either required by Form S-1 or relevant to the
offering) and shall include all financial statements required by the Commission
to be filed therewith, cooperate and assist in any filings required to be made
with the National 

 

8

 

Association
of Securities Dealers, Inc. (“NASD”), and use all commercially
reasonable efforts to cause such Registration Statement to become effective;
provided further, that before filing a Registration Statement or prospectus
related thereto (a “Prospectus”) or any amendments or supplements thereto, the
Company will furnish to the holders of the Registrable Securities covered by such
Registration Statement and the underwriters, if any, copies of all such
documents proposed to be filed, which documents will be subject to the
reasonable review of such holders and underwriters and their respective
counsel, and the Company will not file any Registration Statement or amendment
thereto or any Prospectus or any supplement thereto to which the holders of a
majority of the Registrable Securities covered by such Registration Statement
or the underwriters, if any, shall reasonably object;

 

(ii)                                  prepare and file with the Commission such
amendments and post-effective amendments to the Registration Statement as may
be necessary to keep each Registration Statement effective for the applicable
period, or such shorter period which will terminate when all Registrable
Securities covered by such Registration Statement have been sold; cause each
Prospectus to be supplemented by any required Prospectus supplement, and as so
supplemented to be filed pursuant to Rule 424 under the Act; and comply
with the provisions of the Act with respect to the disposition of all
securities covered by such Registration Statement during the applicable period
in accordance with the intended method or methods of distribution by the
sellers thereof set forth in such Registration Statement or supplement to the
Prospectus;

 

(iii)                               notify the selling holders of Registrable
Securities and the managing underwriters, if any, promptly, and (if requested
by any such person or entity) confirm such advice in writing, (A) when the
Prospectus or any Prospectus supplement or post-effective amendment has been
filed, and, with respect to the Registration Statement or any post-effective
amendment, when the same has become effective, (B) of any request by the
Commission for amendments or supplements to the Registration Statement or the
Prospectus or for additional information, (C) of the issuance by the
Commission of any stop order suspending the effectiveness of the Registration
Statement or the initiation of any proceedings for that purpose, (D) if at
any time the representations and warranties of the Company contemplated by subsection
(xiv) below cease to be true and correct, (E) of the receipt by the
Company of any notification with respect to the suspension of the qualification
of the Registrable Securities for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose and (F) of the happening of
any event which makes any statement made in the Registration Statement, the
Prospectus or any document incorporated therein by reference untrue or which
requires the making of any changes in the Registration Statement, the
Prospectus or any document incorporated therein by reference in order to make
the statements therein not misleading;

 

(v)                                 make every reasonable effort to obtain the
withdrawal of any order suspending the effectiveness of the Registration
Statement at the earliest 

 

9

 

possible
moment;

 

(vi)                              if requested by the managing underwriter or
underwriters or a holder of Registrable Securities being sold in connection
with an underwritten offering, promptly incorporate in a Prospectus supplement
or post-effective amendment such information as the managing underwriters and
the holders of a majority of the Registrable Securities being sold agree should
be included therein relating to the plan of distribution with respect to such
Registrable Securities, including, without limitation, information with respect
to the number of Registrable Securities being sold to such underwriters, the
purchase price being paid therefor by such underwriters and with respect to any
other terms of the underwritten (or best efforts underwritten) offering of the
Registrable Securities to be sold in such offering; and make all required
filings of such Prospectus supplement or post-effective amendment as soon as
notified of the matters to be incorporated in such Prospectus supplement or
post-effective amendment;

 

(vi)                              furnish to each selling holder of Registrable
Securities and each managing underwriter, without charge, at least one
conformed copy of the Registration Statement and any amendment thereto,
including financial statements and schedules, all documents incorporated
therein by reference and all exhibits (including those incorporated by reference);

 

(vii)                           deliver to each selling holder of Registrable
Securities and the underwriters, if any, without charge, as many copies of the
Prospectus (including each preliminary prospectus) and any amendment or
supplement thereto as such selling holder of Registrable Securities and
underwriters may reasonably request; the Company consents to the use of each
Prospectus or any amendment or supplement thereto by each of the selling
holders of Registrable Securities and the underwriters, if any, in connection with
the offering and sale of the Registrable Securities covered by such Prospectus
or any amendment or supplement thereto;

 

(viii)                        prior to any Public Offering of Registrable
Securities, register or qualify or cooperate with the selling holders of
Registrable Securities, the underwriters, if any, and their respective counsel
in connection with the registration or qualification of such Registrable
Securities for offer and sale under the securities or “blue sky” laws of such
jurisdictions as any seller or underwriter reasonably requests in writing,
considering the amount of Registrable Securities proposed to be sold in each
such jurisdiction, and do any and all other acts or things necessary or
advisable to enable the disposition in such jurisdictions of the Registrable
Securities covered by the Registration Statement; provided that the Company
will not be required to qualify generally to do business in any jurisdiction
where it is not then so qualified or to take any action that would subject it
to general service of process in any such jurisdiction where it is not then so
subject;

 

(ix)                                cooperate with the selling holders of
Registrable Securities and the managing underwriters, if any, to facilitate the
timely preparation and delivery of certificates representing Registrable
Securities to be sold and not bearing any restrictive

 

10

 

legends
and to be in such denominations and registered in such names as the managing
underwriters may request at least two business days prior to any sale of
Registrable Securities to the underwriters;

 

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

 

(xi)                                upon the occurrence of any event contemplated
by subsection (iii)(F) above, prepare a supplement or
post-effective amendment to the Registration Statement or the related
Prospectus or any document incorporated therein by reference or file any other
required document so that, as thereafter delivered to the purchasers of the Registrable
Securities, the Prospectus will not contain an untrue statement of a material
fact or omit to state any material fact necessary to make the statements
therein not misleading;

 

(xii)                             cause all Registrable Securities covered by
any Registration Statement to be listed on each securities exchange on which
similar securities issued by the Company are then listed, or cause such
Registrable Securities to be authorized for trading on the Nasdaq National
Market System if any similar securities issued by the Company are then so
authorized, if requested by the holders of a majority of such Registrable
Securities or the managing underwriters, if any;

 

(xiii)                          provide a CUSIP number for all Registrable
Securities, not later than the effective date of the applicable Registration
Statement;

 

(xiv)                         enter into such agreements (including an
underwriting agreement) and take all such other actions in connection therewith
in order to expedite or facilitate the disposition of such Registrable
Securities and in such connection, whether or not an underwriting agreement is
entered into and whether or not the Registration is an underwritten
Registration (A) make such representations and warranties and indemnities
to the underwriters, if any, in form, substance and scope as are customarily
made by issuers to underwriters in primary underwritten offerings; (B) obtain
opinions of counsel to the Company and updates thereof (which counsel and
opinions (in form, scope and substance) shall be reasonably satisfactory to the
managing underwriters, if any) addressed to the underwriters, if any, covering
the matters customarily covered in opinions requested in underwritten offerings
and such other matters as may be reasonably requested by such underwriters; (C) obtain
“cold comfort” letters and updates thereof from the Company’s independent
certified public accountants addressed to the underwriters, if any, such
letters to be in customary form and covering matters of the type customarily
covered in “cold comfort” letters by underwriters in connection with primary
underwritten offerings; and (D) the Company shall deliver such documents
and certificates as may be requested by the managing underwriters, if any, to
evidence compliance with subsection

 

11

 

(iii)(F) above
and with any customary conditions contained in the underwriting agreement or
other agreement entered into by the Company. The above shall be done at each
closing under such underwriting or similar agreement or as and to the extent required
thereunder;

 

(xv)                            make available for inspection by a
representative of any underwriter participating in any disposition pursuant to
such Registration, and any attorney or accountant retained by the underwriter,
all financial and other records, pertinent corporate documents and properties
of the Company, and cause the Company’s officers, directors and employees to
supply all information reasonably requested by any such representative,
underwriter, attorney or accountant in connection with such Registration
Statement; provided that any records, information or documents that are
designated by the Company in writing as confidential shall be kept confidential
by such Persons unless disclosure of such records, information or documents is
required by court or administrative order or any regulatory body having
jurisdiction;

 

(xvi)                         otherwise use all commercially reasonable
efforts to comply with all applicable rules and regulations of the
Commission, and make generally available to its security holders, earnings
statements satisfying the provisions of Section 11(a) of the Act, no
later than 45 days after the end of any 12-month period (or 90 days, if such
period is a fiscal year) (A) commencing at the end of any fiscal quarter
in which Registrable Securities are sold to underwriters in a firm or best
efforts underwritten offering, or (B) if not sold to underwriters in such
an offering, beginning with the first month of the Company’s first fiscal
quarter commencing after the effective date of the Registration Statement,
which statements shall cover said 12-month periods; and

 

(xvii)                      promptly prior to the filing of any document
that is to be incorporated by reference into any Registration Statement or
Prospectus (after initial filing of the Registration Statement), provide copies
of such document to the managing underwriters, if any, make the Company’s
representatives available for discussion of such document and make such changes
in such document prior to the filing thereof as counsel for such selling
holders or underwriters may reasonably request.

 

The
Company may require each seller of Registrable Securities as to which any
Registration is being effected to furnish to the Company such information
regarding the proposed distribution of such securities and the proper name and
address of such seller as the Company may from time to time reasonably request
in writing.

 

Each
holder of Registrable Securities agrees by acquisition of such Registrable
Securities that, upon receipt of any notice from the Company of the happening
of any event of the kind described in subsection (iii)(F) of this subsection
(c), such holder will forthwith discontinue disposition of Registrable
Securities pursuant to the Registration Statement until such holder’s receipt
of copies of the supplemented or amended Prospectus as contemplated by subsection
(xi) of this subsection (c), or until it is advised in writing (the “Advice”)

 

12

 

by the Company that the use
of the Prospectus may be resumed, and has received copies of any additional or
supplemental filings that are incorporated by reference in the Prospectus, and,
if so directed by the Company, such holder will deliver to the Company (at the
Company’s expense) all copies, other than permanent file copies then in such
holder’s possession, of the Prospectus covering such Registrable Securities
current at the time of receipt of such notice. In the event the Company shall
give any such notice, the time periods referred to in subsection (ii) of
this subsection (c) shall be extended by the number of days during
the period from and including the date of the giving of such notice to and
including the date when each seller of Registrable Securities covered by such
Registration Statement shall have received the copies of the supplemented or
amended prospectus contemplated by subsection (xi) of this subsection
(c) or the Advice.

 

(d)                                 Restrictions on Public Sale.

 

(i)                                     Public Sale by Holders of Registrable
Securities. To the extent
not inconsistent with applicable law, the holders of Registrable Securities, if
requested by the managing underwriter or underwriters for any registration
statement filed by the Company, agrees not to effect any public sale or
distribution of Registrable Securities, including a sale pursuant to Rule 144
(or any similar provision then in force) under the Act, during the 180-day
period (or such shorter period as may be applicable to sales by the Company)
beginning on, the effective date of such registration statement and during the
30-business day period following notice of such registration statement.

 

(ii)                                  Public Sale by the Company and Others. If requested by the managing underwriter or
underwriters for any underwritten Registration, or by the holders of a majority
of the Registrable Securities held by the Persons whose securities are being
registered in a Demand Registration that is not being underwritten, (i) the
Company will not effect any public sale or distribution of equity securities
for their own account (or securities convertible into or exchangeable or
exercisable for equity securities) during the 180-day period (or such shorter
period as may be agreed to by such underwriters or holders) beginning on, the
effective date of such registration statement and during the 30-business day period
following notice of such registration statement, and (ii) the Company will
assist the underwriters to cause each other holder of equity securities (or
securities convertible into or exchangeable for, or options to purchase, equity
securities) purchased from the Company at any time after the date of this
Agreement (other than in a registered Public Offering) to agree not to effect
any public sale or distribution of any such securities during such period
described in (A) above (except as part of such Registration, if otherwise
permitted).

 

(iii)                               Other Registrations. If the Company has previously filed a
Registration Statement with respect to Registrable Securities, and if such
previous Registration has not been withdrawn or abandoned, the Company will not
file or cause to be effected any other registration of any of its equity
securities (or securities convertible into or exchangeable for, or options to
purchase, equity securities) under the Act (except on Form S-8 or any
similar successor form), whether on its own behalf or at the

 

13

 

request of any holder or
holders of equity securities (or securities convertible into or exchangeable or
exercisable for equity securities), until a period of at least six months has
elapsed from the effective date of such previous Registration; provided, that
if the Company and holders of 50% or more of the aggregate number of
Registrable Securities included in such previous Registration shall agree in
writing, such period may be shortened.

 

(e)                                  Registration Expenses.

 

(i)                                     All expenses incident to the Company’s
performance of or compliance with this Agreement will be borne by the Company,
including, without limitation, all registration and filing fees, the fees and
expenses of the counsel and accountants for the Company (including the expenses
of any “cold comfort” letters and special audits required by or incident to the
performance of such persons), all other costs and expenses of the Company
incident to the preparation, printing and filing under the Act of the
Registration Statement (and all amendments and supplements thereto) and
furnishing copies thereof and of the Prospectus included therein, the costs and
expenses incurred by the Company in connection with the qualification of the
Registrable Securities under the state securities or “blue sky” laws of various
jurisdictions, the costs and expenses associated with filings required to be
made with the NASD (including, if applicable, the fees and expenses of any “qualified
independent underwriter” and its counsel as may be required by the rules and
regulations of the NASD), the costs and expenses of listing the Registrable
Securities for trading on a national securities exchange or authorizing them
for trading on the Nasdaq National Market System and all other costs and
expenses incurred by the Company in connection with any Registration hereunder;
provided, that, except as otherwise provided in subsection (ii) below,
the Company shall not bear the costs and expenses of the holders of Registrable
Securities for underwriters’ commissions, brokerage fees, transfer taxes, or
the fees and expenses of any counsel, accountants or other representative
retained by the holders of Registrable Securities.

 

(ii)                                  Notwithstanding the foregoing and except as
provided below, in connection with each Registration hereunder, the Company
will reimburse holders of Registrable Securities being registered in any
Registration hereunder for the reasonable out-of-pocket expenses, including the
reasonable fees and disbursements of not more than one counsel, which counsel
shall be chosen by the majority in interest of the holders of Registrable
Securities requesting such registration.

 

(f)                                    Indemnification.

 

(i)                                     Indemnification by the Company. The Company agrees to indemnify, to the
full extent permitted by law, the holder of Registrable Securities and each of
its respective officers, directors and agents and each person who controls any
of them (within the meaning of the Act and the Exchange Act), against all losses,
claims, damages, liabilities and expenses caused by any untrue or alleged
untrue statement of a material fact contained in any Registration Statement,
Prospectus or preliminary Prospectus or any omission or alleged omission to
state therein a material fact necessary to make the

 

14

 

statements therein (in the
case of a Prospectus or any preliminary Prospectus, in light of the
circumstances under which they were made) not misleading, except insofar as the
same are caused by or contained in any information with respect to the holder
of Registrable Securities furnished in writing to the Company by such holder of
Registrable Securities or its representative specifically for use therein. The
Company will also indemnify underwriters, selling brokers, dealer managers and
similar securities industry professionals participating in the distribution,
their officers and directors and each person who controls such persons (within
the meaning of the Act) to the same extent as provided above with respect to
the indemnification of the holders of Registrable Securities; provided,
however, if pursuant to an underwritten Public Offering of Registrable
Securities, the Company and any underwriters enter into an underwriting or
purchase agreement relating to such offering that contains provisions relating
to indemnification and contribution between the Company and such underwriters,
such provisions shall be deemed to govern indemnification and contribution as
between the Company and such underwriters.

 

(ii)                                  Indemnification by Holders of Registrable
Securities. In connection
with any registration in which the holders of Registrable Securities is
participating, the holders of Registrable Securities will furnish to the
Company in writing such information with respect to the holders of Registrable
Securities as the Company reasonably requests for use in connection with any
Registration Statement or Prospectus and agrees to indemnify, to the full
extent permitted by law, the Company, the directors and officers of the Company
signing the Registration Statement and each person who controls the Company
(within the meaning of the Act and the Exchange Act) against any losses,
claims, damages, liabilities and expenses resulting from any untrue statement
of a material fact or any omission to state a material fact required to be
stated therein or necessary to make the statements in the Registration
Statement or Prospectus or preliminary Prospectus (in the case of the
Prospectus or any preliminary Prospectus, in light of the circumstances under
which they were made) not misleading, to the extent, but only to the extent,
that such untrue statement or omission is contained in any information with
respect to such holder of Registrable Securities so furnished in writing by
such holders of Registrable Securities specifically for inclusion therein. In
no event shall the liability of any selling holder of Registrable Securities
hereunder be greater in amount than the dollar amount of the proceeds received
by such holder upon the sale of the Registrable Securities giving rise to such
indemnification obligation. The Company shall be entitled to receive
indemnities from underwriters, selling brokers, dealer managers and similar
securities industry professionals participating in the distribution, to the
same extent as provided above with respect to information with respect to such
persons or entities so furnished in writing by such persons or entities or
their representatives specifically for inclusion in any Prospectus or
Registration Statement.

 

(iii)                               Conduct of Indemnification Proceedings. Any person or entity entitled to
indemnification hereunder will (A) give prompt written notice to the
indemnifying party after the receipt by the indemnified party of a written
notice of the commencement of any action, suit, proceeding or investigation or
threat thereof made in writing for which such indemnified party will claim
indemnification or contribution pursuant to this Agreement; provided, however,
that the failure of any indemnified party to give notice as

 

15

 

provided herein shall not
relieve the indemnifying party of its obligations under the preceding clauses (i) and
(ii), except to the extent that the indemnifying party is actually prejudiced
by such failure to give notice as determined by a final determination by a
court of competent jurisdiction and (B) unless in such indemnified party’s
reasonable judgment a conflict of interest may exist between such indemnified
and indemnifying parties with respect to such claim, permit such indemnifying
party to assume the defense of such claim with counsel reasonably satisfactory
to the indemnified party. Whether or not such defense is assumed by the
indemnifying party, the indemnifying party will not be subject to any liability
for any settlement made without its consent (but such consent will not be
unreasonably withheld). No indemnifying party will be required to consent to
the entry of any judgment or to enter into any settlement that does not include
as an unconditional term thereof the giving by the claimant or plaintiff to
such indemnified party of a release from all liability in respect of such claim
or litigation. An indemnifying party who is not entitled to, or elects not to,
assume the defense of a claim will not be obligated to pay the fees and
expenses of more than one counsel in any one jurisdiction for all parties
indemnified by such indemnifying party with respect to such claim, unless in
the reasonable judgment of any indemnified party a conflict of interest may
exist between such indemnified party and any other of such indemnified parties
with respect to such claim, in which event the indemnifying party shall be
obligated to pay the fees and expenses of such additional counsel or counsels.

 

(iv)                              Contribution. If for any reason the indemnification
provided for in the preceding clauses (i) and (ii) is unavailable to
an indemnified party as contemplated by the preceding clauses (i) and
(ii), then the indemnifying party in lieu of indemnification shall contribute
to the amount paid or payable by the indemnified party as a result of such
loss, claim, damage, liability or expense in such proportion as is appropriate
to reflect not only the relative benefits received by the indemnified party and
the indemnifying party, but also the relative fault of the indemnified party
and the indemnifying party, as well as any other relevant equitable
considerations, provided that such holder of Registrable Securities shall not
be required to contribute in an amount greater than the difference between the
net proceeds received by such holder of Registrable Securities with respect to
the sale of any LLC Interests and any successor securities and all amounts
already contributed by such holder of Registrable Securities with respect to
such claims, including amounts paid for any legal or other fees or expenses
incurred by such holder of Registrable Securities.

 

(h)                                 Rule 144. The Company agrees that at all times after it has filed a
registration statement pursuant to the requirements of the Act relating to any
class of equity securities of the Company, it will file in a timely manner all
reports required to be filed by it pursuant to the Act and the Exchange Act and
will take such further action as any holder of Registrable Securities may
reasonably request in order that such holder may effect sales of Shares
pursuant to Rule 144. At any reasonable time and upon request of the
CSFB-TCW Investors, the Company will furnish the holders of Registrable
Securities and others with such information as may be necessary to enable the
holders of Registrable Securities to effect sales of securities pursuant to Rule 144
under the Act and will deliver to the holders of Registrable Securities a
written statement as to whether it has complied with such

 

16

 

requirements.
Notwithstanding the foregoing, the Company may deregister any class of its
equity securities under Section 12 of the Exchange Act or suspend its duty
to file reports with respect to any class of its securities pursuant to Section 15(d) of
the Exchange Act if it is then permitted to do so pursuant to the Exchange Act
and the rules and regulations thereunder.

 

(h)                                 Participation in Underwritten Registrations. No holder of Registrable Securities may
participate in any underwritten registration hereunder unless the holder of
Registrable Securities (i) agrees to sell its Registrable Securities on
the basis provided in any underwriting arrangements approved by the persons
entitled hereunder to select the underwriter pursuant to Sections 3(a)(iii) and
3(b)(iv) above, (ii) accurately completes in a timely manner and
executes all questionnaires, powers of attorney, underwriting agreements and
other documents customarily required under the terms of such underwriting
arrangements.

 

(i)                                     Other Registration Rights. Except as set forth herein, and except as
provided in the Amended and Restated Registration Rights Agreement, the Company
will not grant to any person (including the CSFB-TCW Investors) any demand or
piggyback registration rights with respect to the equity securities of the
Company (or securities convertible into or exchangeable for, or options to
purchase, equity securities) other than piggyback registration rights that are
not inconsistent with the terms of this Section 3. Except as provided in
the Amended and Restated Registration Rights Agreement, to the extent that the
Company grants to any person registration rights with respect to any securities
of the Company having provisions more favorable to the holders thereof than the
provisions contained in this Agreement, the Company will confer comparable
rights to the holders of Registrable Securities under this Agreement.

 

4.                                       Amendment and Waiver. No modification or amendment of any
provision of this Agreement shall be effective against the Company, the BRS
Investors or the CSFB-TCW Investors unless such modification or amendment is
approved in writing by (i) the Company, (ii) BRS Majority Holders and
(iii) the holders of Registrable Securities holding a majority of the
Registrable Securities then outstanding; and any amendment to which such
written consent is obtained will be binding upon the Company, the BRS Investors
and the CSFB-TCW Investors. No waiver, modification or amendment of any
provision of this Agreement shall be effective against the BRS Investors and
the CSFB-TCW Investors unless such waiver, modification or amendment is
approved in writing by such BRS Investors and such CSFB-TCW Investors. No waiver
of any provision of this Agreement shall be effective against the Company
unless such waiver is approved in writing by the Company. The failure of any
party to enforce any of the provisions of this Agreement shall in no way be
construed as a waiver of such provisions and shall not affect the right of such
party thereafter to enforce each and every provision of this Agreement in
accordance with its terms. The BRS Investors and the CSFB-TCW Investors shall
remain a party to this Agreement only so long as such person is the holder of
record of Registrable Securities.

 

17

 

5.                                       Entire Agreement. Except as otherwise expressly set forth
herein, this document embodies the complete agreement and understanding among the
parties hereto with respect to the subject matter hereof and supersedes and
preempts any prior understandings, agreements or representations by or among
the parties, written or oral, which may have related to the subject matter
hereof in any way. However, the Parties acknowledge that the provisions of Section 10.17(c) of
the Limited Liability Company Agreement dated June 17, 2002 of H&E
Holdings shall continue to be applicable for the period specified therein in
respect of the initial public offering effected pursuant to the Current
Registration Statement.

 

6.                                       Successors, Assigns and Transferees. This Agreement shall be binding upon and
inure to the benefit of the parties hereto and their respective legal
representatives, heirs, legatees, successors and assigns including any party to
which any holder of Registrable Securities transferred or sold his or its
Registrable Securities. Each transferee of Registrable Securities from a party
hereto or Permitted Transferee thereof shall take such Registrable Securities
subject to the same restrictions and the same rights as existed in the hands of
the transferor except that Registrable Securities sold in a Public Offering or
in a Public Sale shall no longer be subject to any of the provisions of this
Agreement.

 

7.                                       Specific Performance, Etc. The Company and the Securities Holders, in
addition to being entitled to exercise all rights provided herein or granted by
law, including recovery of damages, will be entitled to specific performance of
its rights under this Agreement. The Company agrees that monetary damages would
not be adequate compensation for any loss incurred by reason of a breach by it
of the provisions of this Agreement and hereby agrees to waive the defense in
any action for specific performance that a remedy at law would be adequate.

 

8.                                       Governing Law. This Agreement shall be governed by and
construed in accordance with the internal law of the State of New York.

 

9.                                       Interpretation. The headings of the sections contained in
this Agreement are solely for the purpose of reference, are not part of the
agreement of the parties and shall not affect the meaning or interpretation of
this Agreement.

 

10.                                 Notices. All notices and other communications provided for or permitted
hereunder shall be in writing and shall be deemed to have been duly given if
delivered personally or sent by registered or certified mail (return receipt
requested) postage prepaid to the parties at the following addresses (or at
such other address for any party as shall be specified by like notice, PROVIDED
that notices of a change of address shall be effective only upon receipt
thereof). Notices sent by mail shall be effective five days after mailing.

 

18

 

(a)                                  If to the Company, at:

 

H&E
Equipment Services, Inc.

11100
Mead Road, Second Floor

Baton
Rouge, Louisiana 70816

Attention:
Chief Executive Officer

Tel:
(225) 298-5230

Fax:
(225) 298-5382

 

With
a copy, which shall not constitute notice, to:

 

Bruckmann,
Rosser, Sherrill & Co., Inc.

126
East 56th Street, 29th Floor

New
York, New York 10022

Attention:
Bruce Bruckmann and Nicholas Sheppard

Tel:
(212) 521-3700

Fax:
(212) 521-3799

 

and

 

Dechert
LLP

30
Rockefeller Plaza

New
York, New York 10112

Attention:
Ronald R. Jewell, Esq.

Tel:
(212) 698-3589

Fax:
(212) 698-3599

 

or such other address,
telecopy number or to the attention of such other person as the recipient party
shall have specified by prior written notice to the sending party.

 

(b)                                 If to the holders of Registrable Securities
Investor, at:

its address as shown in the stock register of the Company.

 

With
a copy, which shall not constitute notice, to:

 

TCW/Crescent
Mezzanine

                                                                                                                                                11100 Santa Monica Boulevard, Suite 2000
                                                                                                                                                Los Angeles, California 90025
                                                                                                                                                Attention: Tyrone Chang
                                                                                                                                                Tel: (310) 235-5900
                                                                                                                                                Fax: (310) 235-5967

 

11.                                 Recapitalizations, Exchange, Etc. Affecting
the Common Stock. The
provisions of this Agreement shall apply, to the full extent set forth herein
with respect to the Registrable Securities, to any and all equity interests of
the Company or any successor or assign of the Company (whether by merger,
consolidation, sale of assets, or otherwise) that may be issued

 

19

 

in respect of, in exchange
for, or in substitution of the Registrable Securities and shall be
appropriately adjusted for any stock dividends, splits, reverse splits,
combinations, recapitalizations and the like occurring after the date hereof.

 

12.                                 Inspection and Compliance with Law. Copies of this Agreement will be available
for inspection or copying by the holders of Registrable Securities at the
offices of the Company through the Secretary of the Company. The Company shall
take all reasonable action to insure that the provisions of laws of the State
of New York relating to agreements similar to this Agreement are promptly
complied with.

 

13.                                 Counterparts. This Agreement may be executed in one or
more counterparts, by the original parties hereto and any successor in
interest, each of which shall be deemed to be an original and all of which
together shall be deemed to constitute one and the same agreement.

 

14.                                 Termination. This Agreement will automatically terminate and be of no further
force or effect immediately after the consummation of an Approved Company Sale.

 

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

 

16.                                 Severability. In the event that any one or more of the
provisions contained herein, or the application thereof in any circumstances,
is held invalid, illegal or unenforceable in any respect for any reason, the
validity, legality and enforceability of any such provision in every other
respect and of the remaining provisions contained herein shall not be in any
way impaired thereby.

 

17.                                 WAIVER OF JURY TRIAL. EACH PARTY TO THIS AGREEMENT HEREBY WAIVES,
TO THE EXTENT PERMITTED BY APPLICABLE LAW, TRIAL BY JURY IN ANY LITIGATION IN
ANY COURT WITH RESPECT TO, IN CONNECTION WITH, OR ARISING OUT OF THIS AGREEMENT
OR ANY ANCILLARY AGREEMENT OR THE VALIDITY, PROTECTION, INTERPRETATION,
COLLECTION OR ENFORCEMENT THEREOF.

 

18.                                 VENUE; SUBMISSION TO JURISDICTION. ANY AND ALL SUITS, LEGAL ACTIONS OR
PROCEEDINGS ARISING OUT OF THIS AGREEMENT SHALL BE BROUGHT ONLY IN THE SUPREME
COURT OF THE STATE OF NEW YORK AND EACH PARTY TO THIS AGREEMENT HEREBY SUBMITS
TO AND ACCEPTS THE EXCLUSIVE JURISDICTION OF SUCH COURT FOR THE PURPOSE OF SUCH
SUITS, LEGAL ACTIONS OR PROCEEDINGS. IN ANY SUCH SUIT, LEGAL ACTION OR
PROCEEDING, EACH PARTY TO THIS AGREEMENT HEREBY WAIVES PERSONAL SERVICE OF ANY
SUMMONS, COMPLAINT OR OTHER PROCESS AND AGREES THAT SERVICE THEREOF MAY BE
MADE BY CERTIFIED OR REGISTERED MAIL DIRECTED TO HIM OR IT AT THE ADDRESS AS
PROVIDED IN SECTION 12 

 

20

 

HEREOF. TO THE FULLEST
EXTENT PERMITTED BY LAW, EACH PARTY HERETO HEREBY IRREVOCABLY WAIVES ANY
OBJECTION WHICH HE OR IT MAY NOW OR HEREAFTER HAVE TO THE LAYING OF VENUE
OR ANY SUCH SUIT, LEGAL ACTION OR PROCEEDING IN SUCH COURT AND HEREBY FURTHER
WAIVES ANY CLAIM THAT ANY SUIT, LEGAL ACTION OR PROCEEDING BROUGHT IN SUCH
COURT HAS BEEN BROUGHT IN AN INCONVENIENT FORUM.

 

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

 

20.                                 Time of the Essence; Computation of Time. Time is of the essence for each and every
provision of this Agreement. Whenever the last day for the exercise of any
privilege or the discharge or any duty hereunder shall fall upon a Saturday,
Sunday, or any date on which commercial banks in the State of New York are
authorized to be closed, the party having such privilege or duty may exercise
such privilege or discharge such duty on the next succeeding day which is a
regular business day.

 

21.                                 Effectiveness of this Agreement. This Agreement shall be effective as of the
“Effective Time of the H&E Holdings Merger” as defined in the Agreement and
Plan of Merger, and the H&E Holdings Investor Rights Agreement will
thereafter have no force and effect. In the event that the Merger shall not
occur, this Agreement shall be automatically terminated and the Parties shall
have no rights or obligations hereunder, and the H&E Holdings Investor
Rights Agreement shall continue in effect.

 

[Signature Pages Follow]

 

21

 

In
witness whereof, the parties hereto have executed this Agreement as of the date
first above written.

 

	
  H&E
  Equipment Services, Inc.

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
     /s/ John Engquist

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  John Engquist

  	
   

  	
   

  	
   

  
	
   

  	
  President

  	
   

  	
   

  	
   

  
								

 

Amended and Restated Investor Rights Agreement dated
as of February 3, 2006

 

22

 

BRS Investors

 

	
  Bruckmann,
  Rosser, Sherrill & Co., L.P.

  	
   

  	
  Bruckmann,
  Rosser, Sherrill & Co. II,

  L.P. 

  
	
  By:

  	
  BRS Partners, LP

  	
   

  	
  By:

  	
  BRSE LLC

  
	
  By:

  	
  BRSE Associates, Inc.,
  its General

  Partner

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Print name:

  	
   

  	
   

  	
  Print name:

  	
   

  
	
  Print title:

  	
   

  	
   

  	
  Print title:

  	
   

  
	
   

  	
   

  	
   

  
	
  Bruckmann,
  Rosser, Sherrill & Co.,

  Inc. 

  	
   

  	
  The
  Estate of Donald J. Bruckmann

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Print name:

  	
   

  	
   

  	
  Print name:

  	
   

  
	
  Print title:

  	
   

  	
   

  	
  Print title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  BCB
  Family Partners, L.P. 

  	
   

  	
  NAZ
  Family Partners, L.P. 

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  Print name:

  	
   

  	
   

  	
  Print name:

  	
   

  
	
  Print title:

  	
   

  	
   

  	
  Print title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Harold
  Rosser Charitable Trust

  	
   

  	
  Stephen
  C. and Katherine D. Sherrill

  Foundation

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Print name:

  	
   

  	
   

  	
  Print name:

  	
   

  
	
  Print title:

  	
   

  	
   

  	
  Print title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Bruce C.
  Bruckmann

  	
   

  	
   

  	
  Harold O.
  Rosser

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  H. Virgil
  Sherrill

  	
   

  	
   

  	
  Stephen
  C. Sherrill

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Nancy A.
  Zweng

  	
   

  	
   

  	
  Paul D.
  Kaminski

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  John Rice
  Edmonds

  	
   

  	
   

  	
  Marilena
  Tibrea

  
									

 

Amended
and Restated Security Holders Agreement dated as of February 3, 2006

 

23

 

CSFB-TCW Investors

 

	
  Credit
  Suisse Securities (USA) LLC

  (f/k/a Credit Suisse First Boston 

  Corporation

  	
   

  	
  TCW
  Leveraged Income Trust IV, L.P.

  
	
   

  	
   

  	
  By:

  	
  TCW Asset Management
  Company,

  as its Investment Advisor

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  
	
  Print name:

  	
   

  	
   

  	
  Print name:

  	
   

  
	
  Print title:

  	
   

  	
   

  	
  Print title:

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  and

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  TCW Asset Management
  Company,

  as its Managing Member of TCW 

  (LINC IV) L.L.C., the General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Print name:

  	
   

  
	
   

  	
   

  	
  Print title:

  	
   

  
							

 

	
  TCW/Crescent
  Mezzanine Partners 

  III, L.P.

  TCW/Crescent
  Mezzanine Trust III

  TCW/Crescent
  Mezzanine Partners III 

  Netherlands, L.P.

  	
   

  	
   

  
	
  By:

  	
  TCW/Crescent Mezzanine 

  Management III, L.L.C., 

  its Investment Manager

  	
   

  	
   

  
	
  By:

  	
  TCW Asset Management Company,

  its Sub-Advisor

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
  Print name:

  	
   

  	
   

  	
   

  	
   

  
	
  Print title:

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  	
   

  
	
  Print name:

  	
   

  	
   

  	
   

  	
   

  
	
  Print title:

  	
   

  	
   

  	
   

  	
   

  
							

 

24

 

Schedule A to Amended and Restated

Investor Rights Agreement

 

Shares of Common Stock Issuable Pursuant to the Merger

 

Attached

 

25

 

Exhibit A to Amended and Restated

Investor Rights Agreement

 

Form of Joinder to Amended and Restated Investor
Rights Agreement

 

Joinder to the Amended and Restated Investor Rights Agreement dated as of February 3,
2006 (the “Investor Rights Agreement”) among H&E Equipment Services, Inc.,
a Delaware corporation (the “Company”), and certain holders of the
Common Stock, par value $0.01 per share (the “Common Stock”), of the
Company, is made and entered into as of                
by and between the Company and                
(“Holder”). Capitalized terms used herein but not otherwise defined
shall have the meanings set forth in the Investor Rights Agreement.

 

WHEREAS,
Holder has acquired certain shares of the Common Stock from                
and the Investor Rights Agreement and/or the Company require Holder, as a
holder of such Common Stock, to become a party to the Investor Rights
Agreement, and Holder agrees to do so in accordance with the terms hereof.

 

Now,
therefore, in consideration of the mutual covenants contained herein and other
good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the parties to this Joinder hereby agree as follows:

 

1.                                       Agreement to be Bound. Holder hereby agrees that upon execution of
this Joinder, it shall become a party to the Investor Rights Agreement and
shall be fully bound by, and subject to, all of the covenants, terms and
conditions of the Investor Rights Agreement as though an original party thereto
and shall be deemed a [BRS Investor/ CSFB-TCW Investor/ Other Investor] and a
holder of Registrable Securities for all purposes thereof. In addition, Holder
hereby agrees that all Registrable Securities held by Holder shall be deemed
Registrable Securities for all purposes of the Agreement.

 

2.                                       Successors and Assigns. Except as otherwise provided herein, this
Joinder shall bind and inure to the benefit of and be enforceable by the
Company and its successors, heirs and assigns and Holder and any subsequent
holder of Registrable Securities and the respective successors, heirs and
assigns of each of them, so long as they hold any Registrable Securities.

 

3.                                       Counterparts. This Joinder may be executed in separate
counterparts each of which shall be an original and all of which taken together
shall constitute one and the same agreement.

 

4.                                       Notices. For purposes of Section 10 of the Investor Rights Agreement,
all notices, demands or other communications to the Holder shall be directed
to:

 

[Name]

[Address]

 

 

4.                                       Governing Law. This Joinder shall be governed by and
construed in accordance with the laws of the State of New York, without giving
effect to any rules, principles or provisions of choice of law or conflict of
laws.

 

5.                                       Descriptive Headings. The descriptive headings of this Joinder
are inserted for convenience only and do not constitute a part of this Joinder.

 

[Signature Page Follows]

 

2

 

In
witness whereof, the parties hereto have executed this Joinder to the Investor
Rights Agreement as of the date set forth in the introductory paragraph hereof.

 

	
  H&E
  Equipment Services, Inc.

  	
   

  	
  Holder:

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
   

  
	
  Print name:

  	
   

  	
   

  	
  Print name:

  	
   

  
	
  Print title:

  	
   

  	
   

  	
   

  	
   

  
						

 

3Exhibit 4.3

 

Amended and Restated Registration
Rights Agreement dated as of February 3, 2006 (this “Agreement”)
among:

 

(i)            H&E Equipment
Services, Inc., a Delaware corporation (the “Company”); and

 

(ii)           the Persons identified on the
signature pages hereto as “Registrable Securities
Holders”, together with such additional Persons who become Registrable
Securities Holders in accordance with the provisions of this Agreement

 

The Company and the Registrable Securities Holders are
herein together referred to as the “Parties”.

 

Recitals

 

A.            On
the date hereof, and pursuant to the Agreement and Plan of Merger dated as of
February 2, 2006 (the “Agreement and Plan of Merger”) among  the Company, H&E Holdings L.L.C., a
Delaware limited liability company (“H&E Holdings”), H&E
Equipment Services, L.L.C., a Louisiana limited liability company, H&E
Holdings will be merged with and into the Company, with the Company as the
surviving corporation (the “Merger”).

 

B.            Prior
to the Merger, H&E Holdings and the Registrable Securities Holders are the
holders of “Class A Common Units”, “Class B Common Units” “Class A Preferred
Units”, “Class B Preferred Units”, “Class C Preferred Units” and “Class D
Preferred Units” (together, “Units”) representing membership interests
in H&E Holdings and, pursuant to the Merger, their Units will be converted
into shares of the Common Stock, par value $0.01 per share (the “Common
Stock”), of the Company. Subsequent to the Merger, the number of shares of
the Common Stock which the Registrable Securities Holders will receive pursuant
to the Merger in respect of their Units is set forth opposite their names on Schedule
A hereto.

 

C.            H&E
Holdings and Registrable Securities Holders are parties to the Registration
Rights Agreement dated as of June 17, 2002 (the “H&E Holdings Registration
Rights Agreement”).

 

D.            The
Company and Registrable Securities Holders desire that this Agreement shall
amend, restate and replace the H&E Holdings Registration Rights Agreement.

 

Now, therefore, in consideration of the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this
Agreement hereby agree as follows:

 

 

1.             Definitions.
As used herein, the following terms shall have the following meanings.

 

“Affiliate” means, when used with reference to
a specified Person, any Person that directly or indirectly controls or is
controlled by or is under common control with the specified Person. As used in
this definition, “control” (including, with its correlative meanings, “controlled
by” and “under common control with”) shall mean possession, directly or
indirectly, of power to direct or cause the direction of management or policies
(whether through ownership of securities or partnership or other ownership
interests, by contract or otherwise). With respect to any Person who is an
individual, “Affiliates” shall also include, without limitation, any member of
such individual’s Family Group.

 

“Approved Company Sale” means if BRS Majority
Holders approve a sale of all or substantially all of the Company’s assets
determined on a consolidated basis or a sale of all (or a lesser percentage, if
necessary, as determined by BRS Majority Holders for accounting, tax or other
reasons) of the Company’s outstanding Common Stock (in either case, whether by
merger, recapitalization, consolidation, reorganization, combination or
otherwise) or any other transaction which has the same effect as any of the
foregoing, to an Independent Third Party or group of Independent Third Parties.
“Approved Company Sale” shall not include the Merger.

 

“BRS Majority Holders” means, at any time, the
holders of a majority of the number of the BRS Securities that are Common Stock
which are issued to the BRS Registrable Securities Holders pursuant to the
Merger in respect of Units held by BRS Registrable Securities Holders prior to
the Merger, including without limitation any Common Stock issued with respect
to such Common Stock by way of a stock split or combination or recapitalization
or reclassification of such Common Stock.

 

“BRS Securities” means all Common Stock owned
by any BRS Registrable Securities Holders which are issued to the BRS
Registrable Securities Holders pursuant to the Merger in respect of Units held
by the BRS Registrable Securities Holders prior to the Merger, including
without limitation any Common Stock issued with respect to such Common Stock by
way of a stock split or combination or recapitalization or reclassification of
such Common Stock.

 

“BRS Registrable Securities” means (i) all
Common Stock acquired by, or issued or issuable to, BRS Registrable Securities
Holders or any of their Affiliates pursuant to the Merger in respect of the
Units held by such BRS Registrable Securities Holders prior to the Merger and
(ii) all equity securities issued or issuable directly or indirectly with
respect to any Common Stock described in clause (i) above by way of a
stock dividend or stock split or in connection with a combination of shares,
recapitalization, merger, consolidation, reorganization or reclassification,
other than equity securities issued in any Approved Company Sale. As to any
particular BRS Registrable Securities, such securities shall cease to be BRS
Registrable Securities when they have been distributed to the public pursuant
to an offering registered under the Securities Act or sold to the public in
compliance with Rule 144.

 

2

 

“BRS Registrable Securities Holders” means those
Registrable Securities Holders identified as such on Schedule A hereto.

 

“Common Stock” means collectively, the Common
Stock, par value $0.01 per share, of the Company any other equity of the
Company (or its successors) hereafter authorized which is not limited to a
fixed sum or percentage of par value or stated value in respect to the rights
of the holders thereof to participate in dividends or other distributions or in
the distribution of assets upon any voluntary or involuntary liquidation,
dissolution or winding up of the issuer of such securities.

 

“Current Registration Statement” means the
Registration Statement on Form S-1 filed by the Company with the SEC and
effective as of January 30, 2006.

 

“Exchange Act” means the Securities Exchange
Act of 1934, as amended, and the rules and regulations of the SEC promulgated
thereunder.

 

“Family Group” means, with respect to any
Person who is an individual, (i) such Person’s spouse, former spouse and
descendants (whether natural or adopted), parents and their descendants and any
spouse of the foregoing persons (collectively, “Relatives”) or (ii) the
trustee, fiduciary or personal representative of such Person and any trust
solely for the benefit of such Person and/or such Person’s relatives.

 

“Independent Third Party” means any Person who,
immediately prior to the contemplated transaction, does not own in excess of 5%
of the number of Common Stock on a fully diluted basis (a “5% Owner”),
who is not an Affiliate of any such 5% Owner and who is not a member of the
Family Group of any such 5% Owner or a trust for the benefit of any such 5%
Owner and/or such other Persons.

 

“Other Registrable Securities” means (i) all Common
Stock acquired by, or issued or issuable to, Other Registrable Securities
Holders pursuant to the Merger in respect of the Units held by such Other
Registrable Securities Holders prior to the Merger, (ii) all equity securities
issued or issuable directly or indirectly with respect to any Common Stock
described in clause (i) above by way of a stock dividend or stock split
or in connection with a combination of shares, recapitalization, merger,
consolidation or other reorganization. As to any particular Other Registrable
Securities, such securities shall cease to be Other Registrable Securities when
they have been distributed to the public pursuant to an offering registered
under the Securities Act or sold to the public in compliance with Rule 144.

 

“Other Registrable Securities Holders” means
Registrable Securities Holders other than BRS Registrable Securities Holders.

 

“Person” means an individual, a partnership, a
corporation, a limited liability company, an association, a joint stock
company, a trust, a joint venture, an unincorporated organization, a bank, a
trust company, a land trust, a business trust, a governmental entity or any
department, agency or political subdivision thereof or any other entity or
organization, whether or not it is a legal entity.

 

3

 

“Public Offering” means an underwritten public
offering and sale of Common Stock pursuant to an effective registration
statement under the Securities Act; provided that a Public Offering shall not
include an offering made in connection with a business acquisition or combination
pursuant to a registration statement on Form S-4 or any similar form, or an
employee benefit plan pursuant to a registration statement on Form S-8 or any
similar form.

 

“Registrable Securities” means, collectively,
the BRS Registrable Securities and the Other Registrable Securities.

 

“Registration Expenses” means all expenses
incident to the Company’s performance of or compliance with this Agreement,
including without limitation all registration and filing fees, fees and
expenses of compliance with securities or blue sky laws, printing and
distributing expenses, messenger and delivery expenses, fees and expenses of
custodians, internal expenses (including all salaries and expenses of its
officers and employees performing legal or accounting duties), the expense of
any annual audit or quarterly review, the expense of any liability insurance
and the expenses and fees for listing the securities to be registered on each
securities exchange on which similar securities issued by the Company are then
listed or on the NASD automated quotation system, and fees and disbursements of
counsel for the Company and the underwriters and all independent certified
public accountants, underwriters (excluding discounts and commissions) and
other Persons retained by the Company.

 

“Rule 144” means Rule 144 under the Securities
Act (or any similar rule then in force).

 

“SEC” means the Securities and Exchange
Commission.

 

“Securities Act” means the Securities Act of
1933, as amended.

 

“Subsidiary” means, with respect to any Person,
any corporation, limited liability company, partnership, association or other
business entity of which (i) if a corporation or a limited liability company
with voting securities, a majority of the total voting power of shares of stock
(or units) entitled (without regard to the occurrence of any contingency) to
vote in the election of directors, managers or trustees thereof is at the time
owned or controlled, directly or indirectly, by such Person or one or more of
the other Subsidiaries of such Person or a combination thereof, or (ii) if a
limited liability company without voting securities, partnership, association
or other business entity, a majority of the partnership or other similar
ownership interest thereof is at the time owned or controlled, directly or
indirectly, by any Person or one or more Subsidiaries of such Person or entity
or a combination thereof. For purposes of this Agreement, a Person or Persons
shall be deemed to have a majority ownership interest in a limited liability
company, partnership, association or other business entity if such Person or
Persons shall be allocated a majority of limited liability company,
partnership, association or other business entity gains or losses or shall be
or control any managing director, managing member, or general partner of such
limited liability company, partnership, association or other business entity.

 

4

 

2.             Demand
Registrations.

 

(a)           Requests
for Registration.

 

(i)            At
any time after the date hereof, the holder(s) of a majority of the BRS
Registrable Securities may request registration under the Securities Act (other
than in connection with the Current Registration Statement) of all or any portion
of their Registrable Securities on Form S-1 or any similar long-form
registration (a “Long-Form Registration”), or on Form S-2 or S-3 or any
similar short-form registration (a “Short-Form Registration”) if such a
short form is available.

 

(ii)           All
registrations requested pursuant to this Section 2(a) are referred to
herein as “Demand Registrations”. Each request for a Demand Registration
(a “Demand Request”) shall specify the approximate number of Registrable
Securities requested to be registered, the anticipated method or methods of
distribution and the anticipated per share price range for such offering. Within
ten days after receipt of any such Demand Request, the Company will give
written notice of such requested registration (which shall specify the intended
method of disposition of such Registrable Securities) to all other holders of
Registrable Securities (a “Company Notice”) and the Company will include
(subject to the provisions of this Agreement) in such registration, all
Registrable Securities with respect to which the Company has received written
requests for inclusion therein within 20 days after the delivery of such
Company Notice; provided that any such other holder may withdraw its request
for inclusion at any time prior to executing the underwriting agreement or, if
none, prior to the applicable registration statement becoming effective.

 

(b)           Long-Form
Registrations. The holders of BRS Registrable Securities will be entitled
to unlimited Long-Form Registrations. The Company will pay all Registration
Expenses in connection with any registration initiated as a Long-Form
Registration whether or not it has become effective.

 

(c)           Short-Form
Registrations. The holders of BRS Registrable Securities will be entitled
to unlimited Short-Form Registrations. Demand Registrations by holders of BRS
Registrable Securities will be Short-Form Registrations whenever the Company is
permitted to use any applicable short form. After the Company has become
subject to the reporting requirements of the Exchange Act, the Company will use
its best efforts to make Short-Form Registrations on Form S-3 available for the
sale of BRS Registrable Securities. The Company will pay all Registration
Expenses in connection with any registration initiated as a Short-Form
Registration by the holders of BRS Registrable Securities whether or not it has
become effective.

 

(d)           Priority
on Demand Registrations.

 

(i)            The
Company will not include in any Demand Registration any securities which are
not Registrable Securities unless holder(s) of a majority of the Registrable
Securities initiating such Demand Registration pursuant to Section 2(a)
otherwise consent.

 

5

 

(ii)           If
a Demand Registration is an underwritten offering and the managing underwriters
advise the Company in writing that in their opinion the number of Registrable
Securities and, if permitted hereunder, other securities, requested to be
included in such offering exceeds the number of Registrable Securities and
other securities, if any, which can be sold in an orderly manner in such
offering within a price range acceptable to holder(s) of a majority of the
Registrable Securities initiating such Demand Registration pursuant to Section
2(a) and without adversely affecting the marketability of the offering, then
the Company will include in such Demand Registration (A) first, the number of Registrable
Securities requested to be included in such Demand Registration (by holders
initiating such Demand Registration as well as other holders who are permitted
under this Agreement to request the inclusion of Registrable Securities in such
Demand Registration), pro rata from
among the holders of such Registrable Securities according to the number of
Registrable Securities requested by them to be so included, and (B) second, any
other securities of the Company requested to be included in such registration,
in such manner as the Company may determine.

 

(e)           Restrictions
on Demand Registrations.

 

(i)            The
Company will not be obligated to file any registration statement with respect
to any Long-Form Registration within 180 days after the effective date of a previous
Long-Form Registration (including the Current Registration Statement) or a
previous registration in which the holders of Registrable Securities were given
piggyback rights pursuant to Section 3 and in which there were included
not less than 80% of the number of Registrable Securities requested to be
included.

 

(ii)           The
Company may postpone for up to 90 days the filing or the effectiveness of a
registration statement for a Demand Registration if the Company determines that
such Demand Registration would reasonably be expected to have a material
adverse effect on any proposal or plan by the Company or any of its
Subsidiaries to engage in any acquisition of assets (other than in the ordinary
course of business) or any merger, consolidation, tender offer, reorganization
or similar transaction; provided that in such event the holders of Registrable
Securities initiating such Demand Registration pursuant to Section 2(a)
will be entitled to withdraw such request and, if such request is withdrawn,
such Demand Registration will not count as one of the permitted Demand
Registrations hereunder and the Company will pay all Registration Expenses in
connection with such requested registration. The Company may use the provisions
of this clause (ii) to delay a Demand Registration initiated by holders of BRS
Registrable Securities only once during any twelve-month period.

 

(f)            Selection
of Underwriters. In the case of any Demand Registration, the holders of a
majority of the BRS Registrable Securities to be included in such Demand
Registration will have the right to select the investment banker(s) and
manager(s) to administer the offering (which investment banker(s) and
manager(s) will be nationally recognized).

 

(g)           Other
Registration Rights. Except as provided in this Agreement, after the date
hereof, the Company will not grant to any Persons the right to request the
Company to register any Common Stock, or any securities convertible or
exchangeable into or exercisable for

 

6

 

Common Stock, without the prior written consent of the holders of a
majority of the BRS Registrable Securities.

 

3.             Piggyback
Registrations.

 

(a)           Right
to Piggyback. Whenever the Company proposes to register any of its Common Stock
under the Securities Act for its own account or for the account of any holder of
Common Stock (other than pursuant to the Current Registration Statement, other
than pursuant to a Demand Registration, other than pursuant to a registration
statement on Form S-8 or S-4 or any similar or successor form, other than in
connection with a registration the primary purpose of which is to register debt
securities (i.e., in connection with a so-called “Equity Kicker”), and,
except, unless the Company has received the prior written consent of holders of
a majority of the BRS Registrable Securities, in connection with an initial
Public Offering) (a “Piggyback Registration”), the Company will give
prompt written notice to all holders of Registrable Securities of its intention
to effect such a registration and of such holders’ rights under this Section
3(a). Upon the written request of any holder of Registrable Securities
(which request shall specify the Registrable Securities intended to be disposed
of by such holder and the intended method of disposition thereof), the Company
shall include in such registration (subject to the provisions of this
Agreement) all Registrable Securities requested to be registered pursuant to
this Section 3(a), subject to Section 3(b) below, with respect to
which the Company has received written requests for inclusion therein within 20
days after the receipt of the Company’s notice; provided that any such other
holder may withdraw its request for inclusion at any time prior to executing
the underwriting agreement or, if none, prior to the applicable registration
statement becoming effective.

 

(b)           Priority
on Primary Registrations. If a Piggyback Registration is in part an
underwritten primary registration on behalf of the Company and the managing
underwriters advise the Company in writing that in their opinion the number of
securities requested to be included in such registration exceeds the number
which can be sold in an orderly manner in such offering within a price range
acceptable to the Company and without adversely affecting the marketability of
the offering, then the Company will include in such registration (i) first, the
securities the Company proposes to sell, (ii) second, the Registrable
Securities requested to be included in such registration, pro rata from among
the holders of such Registrable Securities according to the number of
Registrable Securities requested by them to be so included, and (iii) third,
any other securities requested to be included in such registration, in such
manner as the Company may determine.

 

(c)           Priority
on Secondary Registrations. If a Piggyback Registration is an underwritten
secondary registration on behalf of holders of the Company’s securities, and
the managing underwriters advise the Company in writing that in their opinion the
number of securities requested to be included in such registration exceeds the
number which can be sold in an orderly manner in such offering within a price
range acceptable to the holders initially requesting such registration and
without adversely affecting the marketability of the offering, then the Company
will include in such registration (i) first, (A) the securities requested to be
included therein by the holders requesting such registration and (B) the
Registrable Securities requested to be included in such registration, pro rata
from among such holders and the holders

 

7

 

of such Registrable Securities according to the number of Registrable
Securities requested by them to be so included, and (ii) second, any other
securities requested to be included in such registration, in such manner as the
Company may determine.

 

(d)           Other
Registrations. If the Company has previously filed a registration statement
with respect to Registrable Securities pursuant to Section 2 or pursuant
to this Section 3, and if such previous registration has not been
withdrawn or abandoned, then all the parties hereto agree that the Company
shall not be required to effect any other registration of any of its equity or
similar securities or securities convertible or exchangeable into or
exercisable for its equity or similar securities under the Securities Act
(except on Forms S-4 or S-8 or any successor or similar form or in connection
with a Demand Registration), whether on its own behalf or at the request of any
holder or holders of such securities, until a period of at least 180 days has
elapsed from the effective date of such previous registration.

 

(e)           Registration
Expenses. The Company will pay all Registration Expenses in connection with
any Piggyback Registration whether or not such Piggyback Registration has
become effective.

 

4.             Holdback
Agreements.

 

(a)           Each
holder of Registrable Securities hereby agrees (i) not to effect any sale or
distribution of Common Stock, or any securities convertible into or
exchangeable or exercisable for Common Stock, during the seven days prior to
and the 180-day period beginning on the effective date of a Public Offering
(except as part of such Public Offering), unless the underwriters managing such
Public Offering otherwise agree (which agreement shall be equally applicable to
all holders of Registrable Securities) and (ii) to execute and deliver any
reasonable agreement which is consistent with the provisions of clause (i) of
this Section 4(a) and which may be required by the underwriters managing
such Public Offering.

 

(b)           The
Company (i) will not effect any sale or distribution of Common Stock, or any
securities convertible into or exchangeable or exercisable for Common Stock,
during the seven days prior to and during the 180-day period beginning on the
effective date of a Public Offering (except as part of such Public Offering),
unless the underwriters managing such Public Offering otherwise agree (which
agreement shall be equally applicable to all holders of Registrable
Securities), and (ii) will cause each holder of Common Stock or any securities
convertible into or exchangeable or exercisable for Common Stock, purchased
from the Company at any time after the date of this Agreement (other than in a
Public Offering) to agree not to effect any sale or distribution of any such
securities during such period (except as part of such Public Offering, if
otherwise permitted), unless the underwriters managing such Public Offering
otherwise agree.

 

5.             Registration
Procedures. Whenever the holders of Registrable Securities have requested
that any Registrable Securities be registered pursuant to this Agreement, the
Company will use its best efforts to effect the registration and the sale of
such Registrable Securities in accordance with the intended method of
disposition thereof, and pursuant thereto the Company will as expeditiously as
possible:

 

8

 

(a)           prepare
and file with the SEC a registration statement with respect to such Registrable
Securities and use its best efforts to cause such registration statement to
become effective (provided that before filing a registration statement or
prospectus or any amendments or supplements thereto, the Company will furnish
to the counsel selected pursuant to Section 6(b) below copies of all
such documents proposed to be filed, which documents will be subject to the
prompt review and reasonable comment of such counsel), and upon filing such
documents, the Company shall promptly notify in writing such counsel of the
receipt by the Company of any written comments by the SEC with respect to such
registration statement or prospectus or any amendment or supplement thereto or
any written request by the SEC for the amending or supplementing thereof or for
additional information with respect thereto;

 

(b)           notify
each holder of Registrable Securities of the effectiveness of each registration
statement filed hereunder and prepare and file with the SEC such amendments and
supplements to such registration statement and the prospectus used in
connection therewith as may be necessary to keep such registration statement
effective for a period of not less than 180 days or, if such registration
statement relates to an underwritten offering, such longer period as, in the
opinion of counsel for the underwriters, a prospectus is required by law to be
delivered in connection with sales of Registrable Securities by any underwriter
or dealer or such shorter period as will terminate when all of the securities
covered by such registration statement have been disposed of in accordance with
the intended methods of disposition by the seller or sellers thereof as set
forth in such registration statement (but in any event not before the
expiration of any longer period required under the Securities Act), and comply
with the provisions of the Securities Act with respect to the disposition of
all securities covered by such registration statement during such period in
accordance with the intended methods of disposition by the sellers thereof set
forth in such registration statement and cause the prospectus to be
supplemented by any required prospectus supplement, and as so supplemented to
be filed pursuant to Rule 424 under the Securities Act;

 

(c)           furnish
to each seller of Registrable Securities such number of copies of such
registration statement, each amendment and supplement thereto, the prospectus
included in such registration statement (including each preliminary prospectus)
and such other documents as such seller may reasonably request in order to
facilitate the disposition of the Registrable Securities owned by such seller;

 

(d)           if
requested by the holders of a majority of the BRS Registrable Securities in
connection with any Demand Registration requested by such holders, use its
commercially reasonable efforts to cause to be included in such registration
Common Stock having an aggregate value (based on the midpoint of the proposed
offering price range specified in the registration statement used to offer such
securities) of up to $50.0 million, to be offered in a primary offering of the
Company’s securities contemporaneously with such offering of Registrable
Securities;

 

9

 

(e)           use
its best efforts to register or qualify such Registrable Securities under such
other securities or blue sky laws of such jurisdictions as any seller
reasonably requests and do any and all other acts and things which may be
reasonably necessary or advisable to enable such seller to consummate the
disposition in such jurisdictions of the Registrable Securities owned by such
seller (provided that the Company will not be required to (i) qualify generally
to do business in any jurisdiction where it would not otherwise be required to
qualify but for this subsection, (ii) subject itself to taxation in any such
jurisdiction in any jurisdiction where it is not so subject or (iii) consent to
general service of process (i.e., service of process which is not limited
solely to securities law violations) in any such jurisdiction in any
jurisdiction where it is not so subject);

 

(f)            promptly
notify each seller of such Registrable Securities, at any time when a
prospectus relating thereto is required to be delivered under the Securities
Act, upon discovery that, or upon the discovery of the happening of any event
as a result of which the prospectus included in such registration statement
contains an untrue statement of a material fact or omits any fact necessary to
make the statements therein not misleading in light of the circumstances under
which they were made, and, at the request of any such seller, the Company will,
as soon as reasonably practicable, file and furnish to all sellers a supplement
or amendment to such prospectus so that, as thereafter delivered to the
purchasers of such Registrable Securities, such prospectus will not contain an
untrue statement of a material fact or omit to state any fact necessary to make
the statements therein not misleading in light of the circumstances under which
they were made;

 

(g)           cause
all such Registrable Securities to be listed on each securities exchange on
which similar securities issued by the Company are then listed and, if not so
listed, to be listed on the Nasdaq National Market System (“NASDAQ Market”)
and, if listed on the Nasdaq Market, use its best efforts to secure designation
of all such Registrable Securities covered by such registration statement as a
Nasdaq “National Market System security” within the meaning of Rule 11Aa2-1
under the Exchange Act or, failing that, to secure Nasdaq Market authorization
for such Registrable Securities and, without limiting the generality of the
foregoing, to arrange for at least two market makers to register as such with
respect to such Registrable Securities with the National Association of
Securities Dealers;

 

(h)           provide
a transfer agent and registrar for all such Registrable Securities not later
than the effective date of such registration statement;

 

(i)            enter
into such customary agreements (including underwriting agreements in customary
form) and take all such other actions as the holders of a majority of the
Registrable Securities being sold or the underwriters, if any, reasonably
request in order to expedite or facilitate the disposition of such Registrable Securities
(including, without limitation, effecting a split or a combination of stock or
units); provided that no holder of Registrable Securities shall have any
indemnification or contribution obligations inconsistent with Section 7
hereof;

 

10

 

(j)            make
available for inspection by any seller of Registrable Securities, any
underwriter participating in any disposition pursuant to such registration
statement and any attorney, accountant or other agent retained by any such
seller or underwriter, all financial and other records, pertinent corporate
documents and properties of the Company, and cause the Company’s officers,
directors, employees and independent accountants to supply all information and
participate in due diligence sessions reasonably requested by any such seller,
underwriter, attorney, accountant or agent in connection with such registration
statement;

 

(k)           otherwise
use its best efforts to comply with all applicable rules and regulations of the
SEC, and make available to its security holders, as soon as reasonably
practicable, an earnings statement covering the period of at least twelve
months beginning with the first day of the Company’s first full calendar
quarter after the effective date of the registration statement, which earnings
statement shall satisfy the provisions of Section 11(a) of the
Securities Act and Rule 158 promulgated thereunder;

 

(l)            use
reasonable best efforts to prevent the issuance of any stop order (“Stop Order”)
suspending the effectiveness of a registration statement, or of any order
suspending or preventing the use of any related prospectus or suspending the
qualification of any securities included in such registration statement for
sale in any jurisdiction, and, in the event of such issuance, the Company shall
immediately notify the holders of Registrable Securities included in such
registration statement of the receipt by the Company of such notification and
shall use its best efforts promptly to obtain the withdrawal of such order;

 

(m)          use
its best efforts to cause such Registrable Securities covered by such
registration statement to be registered with or approved by such other
governmental agencies or authorities as may be necessary to enable the sellers
thereof to consummate the disposition of such Registrable Securities, and
cooperate and assist with any filings to be made with the NASD;

 

(n)           obtain
one or more “cold comfort” letters, dated the effective date of such
registration statement (and, if such registration includes an underwritten Public
Offering, dated the date of the closing under the underwriting agreement),
signed by the Company’s independent public accountants in customary form and
covering such matters of the type customarily covered by “cold comfort” letters
as the holders of a majority of the Registrable Securities being sold
reasonably request; and

 

(o)           provide
a legal opinion of the Company’s outside counsel, dated the effective date of
such registration statement (and, if such registration includes an underwritten
Public Offering, dated the date of the closing under the underwriting
agreement), with respect to the registration statement, each amendment and
supplement thereto, the prospectus included therein (including the preliminary
prospectus) and such other documents relating thereto in customary form and
covering such matters of the type customarily covered by legal opinions of such
nature.

 

11

 

If any such registration or comparable statement refers to any holder
by name or otherwise as the holder of any securities of the Company and if in
such holder’s sole and exclusive judgment, such holder is or might be deemed to
be an underwriter or a controlling person of the Company, such holder shall
have the right to (i) require the insertion therein of language, in form and
substance satisfactory to such holder and presented to the Company in writing,
to the effect that the holding by such holder of such securities is not to be
construed as a recommendation by such holder of the investment quality of the
Company’s securities covered thereby and that such holding does not imply that
such holder will assist in meeting any future financial requirements of the
Company, or (ii) in the event that such reference to such holder by name or
otherwise is not required by the Securities Act or any similar Federal statute
then in force, require the deletion of the reference to such holder; provided,
that with respect to this clause (ii), if requested by the Company, such holder
shall furnish to the Company an opinion of counsel to such effect, which
opinion and counsel shall be reasonably satisfactory to the Company.

 

6.             Registration
Expenses.

 

(a)           All
expenses incident to the Company’s performance of or compliance with this Agreement,
including without limitation all Registration Expenses, will be borne by the
Company.

 

(b)           In
connection with each Demand Registration and each Piggyback Registration, the
Company will reimburse the holders of Registrable Securities included in such
registration for the reasonable fees and disbursements of one counsel chosen by
the holders of a majority of the Registrable Securities initially requesting
such registration (which counsel shall be retained to represent all such
holders).

 

7.             Indemnification.

 

(a)           By
the Company. The Company agrees to, and will cause each of its Subsidiaries
to agree to, indemnify, to the fullest extent permitted by law, each holder of
Registrable Securities, its officers, directors, members, employees, agents,
stockholders and general and limited partners and each Person who controls such
holder (within the meaning of the Securities Act and Exchange Act) against any
and all losses, claims, damages, liabilities and expenses (or actions or
proceedings, whether commenced or threatened, in respect thereof), joint or
several, arising out of or based upon any untrue or alleged untrue statement of
material fact contained in any registration statement, reports required and
other documents filed under the Exchange Act, prospectus or preliminary
prospectus or any amendment thereof or supplement thereto, together with any
documents incorporated therein by reference, or any omission or alleged
omission of a material fact required to be stated therein or necessary to make
the statements therein not misleading, or any violation or alleged violation by
the Company or any of its Subsidiaries of any federal, state, foreign or common
law rule or regulation and relating to action or inaction in connection with
any such registration, disclosure document or other document and shall
reimburse such holder, officer, director, member, employee, agent, stockholder,
partner or controlling Person for any legal or other expenses, including any
amounts paid in any settlement effected with the consent of the Company, which
consent will not be unreasonably withheld or delayed, incurred by such holder,
officer, director, member, employee,

 

12

 

agent, stockholder, partner or controlling Person in connection with
the investigation or defense of such loss, claim, damage, liability or expense,
except insofar as the same are caused by or contained in any information
furnished in writing to the Company by such holder expressly for use therein.
In connection with an underwritten offering, the Company will indemnify such
underwriters, their officers, directors, agents and employees and each Person
who controls such underwriters (within the meaning of the Securities Act) to
the same extent as provided above with respect to the indemnification of the
holders of Registrable Securities.

 

(b)           By
the Holders. In connection with any registration statement in which a
holder of Registrable Securities is participating, each such holder will
furnish to the Company in writing such information and affidavits about such
holder as the Company reasonably requests for use in connection with any such
registration statement or prospectus and, to the extent permitted by law, will
indemnify the Company, its directors and officers and each Person who controls
the Company (within the meaning of the Securities Act) and the other holders of
Registrable Securities against any losses, claims, damages, liabilities and
expenses resulting from any untrue or alleged untrue statement of material fact
contained in the registration statement, prospectus or preliminary prospectus
or any amendment thereof or supplement thereto or any omission or alleged
omission of a material fact required to be stated therein or necessary to make
the statements therein not misleading, but only to the extent that such untrue
statement or omission is contained in any information or affidavit so furnished
in writing by such holder which authorizes its use in the applicable document;
provided, that the obligation to indemnify will be individual, not joint and
several, for each holder and will be limited to the net amount of proceeds
received by such holder from the sale of Registrable Securities pursuant to
such registration statement.

 

(c)           Claim
Procedures. Any Person entitled to indemnification hereunder will (i) give
prompt written notice to the indemnifying party of any claim with respect to
which it seeks indemnification (provided that the failure to give prompt notice
will not impair any Person’s right to indemnification hereunder to the extent
such failure has not prejudiced the indemnifying party) and (ii) unless in such
indemnified party’s reasonable judgment a conflict of interest between such
indemnified and indemnifying parties may exist with respect to such claim,
permit the indemnifying party to assume the defense thereof, jointly with any
other indemnifying party similarly notified to the extent it may wish, with
counsel reasonably satisfactory to the indemnified party. If such defense is
assumed, the indemnifying party will not be subject to any liability for any
settlement made by the indemnified party without its consent (but such consent
will not be unreasonably withheld or delayed) and the indemnifying party shall
not, without the consent of the indemnified party, consent to entry of any
judgment or enter into any settlement which does not include as an
unconditional term thereof, a release from all liability in respect of such
claim or litigation provided by the claimant or plaintiff to such indemnified
party. An indemnifying party who is not entitled to, or elects not to, assume
the defense of a claim will not be obligated to pay (i) the fees and expenses
of more than one counsel for all parties indemnified by such indemnifying party
with respect to such claim, unless in the reasonable judgment of any
indemnified party a conflict of interest may exist between such indemnified
party and any other of such indemnified parties with respect to such claim or
(ii) any settlement made by any indemnified party without such indemnifying
party’s consent (but such consent will not be unreasonably withheld).

 

13

 

(d)           Survival;
Contribution. The indemnification provided for under this Agreement will
remain in full force and effect regardless of any investigation made by or on
behalf of the indemnified party or any officer, agent or employee and each
other Person who participates as an underwriter in the offering or sale of such
securities and each other Person, if any, who controls such indemnified party
(within the meaning of the Securities Act), and will survive the transfer of
securities. The Company also agrees to make such provisions, as are reasonably
requested by any indemnified party, for contribution to such party in the event
the Company’s indemnification is unavailable for any reason.

 

8.             Participation
in Underwritten Registrations. No Person may participate in any
registration hereunder which is underwritten unless such Person (a) agrees to
sell such Person’s securities on the basis provided in any underwriting
arrangements approved by the Person or Persons entitled hereunder to approve
such arrangements (including, without limitation, pursuant to the terms of any
over-allotment or “green shoe” option requested by the managing underwriter(s),
provided that no holder of Registrable Securities will be required to sell more
than the number of Registrable Securities that such holder has requested the
Company to include in any registration) and (b) completes and executes all customary
questionnaires, powers of attorney, indemnities, underwriting agreements and
other documents required under the terms of such underwriting arrangements;
provided, that no holder of Registrable Securities included in any underwritten
registration shall be required to make any representations or warranties to the
Company or the underwriters (other than representations and warranties regarding
such holder and such holder’s intended method of distribution) or to undertake
any indemnification or contribution obligations to the Company or the
underwriters with respect thereto, except as otherwise provided in Section
7.

 

9.             Rule
144 Reporting. With a view to making available to the holders of
Registrable Securities the benefits of certain rules and regulations of the SEC
which may permit the sale of the Registrable Securities to the public without
registration, the Company agrees at its expense to use its best efforts to:

 

(a)           make and keep current public
information available, within the meaning of Rule 144 or any similar or
analogous rule promulgated under the Securities Act, at all times after it has
become subject to the reporting requirements of the Exchange Act;

 

(b)           file with the SEC, in a timely
manner, all reports and other documents required of the Company under the
Securities Act and Exchange Act (after it has become subject to such reporting
requirements); and

 

(c)           so long as any party hereto owns any
Registrable Securities, furnish to such Person forthwith upon request, a
written statement by the Company as to its compliance with the reporting
requirements of said Rule 144 (at any time commencing 90 days after the
effective date of the first registration filed by the Company for an offering
of its securities to the general public), the Securities Act and the Exchange
Act (at any time after it has become subject to such reporting requirements); a
copy of the most recent annual or quarterly report of the Company; and such
other reports and

 

14

 

documents as such Person may reasonably request in
availing itself of any rule or regulation of the SEC allowing it to sell any
such securities without registration.

 

10.           Notices.
All notices, demands or other communications to be given or delivered under or
by reason of the provisions of this Agreement will be in writing and will be
deemed to have been given when delivered if delivered personally, sent via a
nationally recognized overnight courier, or sent via facsimile to the
recipient, or if sent by certified or registered mail, return receipt
requested, will be deemed to have been given two business days thereafter. Such
notices, demands and other communications shall be sent to any holder of
Registrable Securities at such holder’s last address on the records of the Company,
and to the Company at: 11100 Mead Road, Second Floor, Baton Rouge, Louisiana
70816; Attention: Chief Executive Officer; Telephone: (225) 298-5230; Fax:
(225) 298-5382, or such other address, telecopy number or to the attention of
such other person as the recipient party shall have specified by prior written
notice to the sending party.

 

11.           Miscellaneous.

 

(a)           No
Inconsistent Agreements. The Company represents and warrants to the holders
of Registrable Securities that the registration rights granted to the holders
of such securities hereby do not conflict with any other registration rights
granted by the Company.

 

(b)           Remedies.
Any Person having rights under any provision of this Agreement will be entitled
to enforce such rights specifically to recover damages caused by reason of any
breach of any provision of this Agreement and to exercise all other rights
granted by law. The parties hereto agree and acknowledge that money damages may
not be an adequate remedy for any breach of the provisions of this Agreement
and that any party may in its sole discretion apply to any court of law or
equity of competent jurisdiction (without posting any bond or other security)
for specific performance and for other injunctive relief in order to enforce or
prevent violation of the provisions of this Agreement.

 

(c)           Amendments
and Waivers. The provisions of this Agreement may be amended or waived only
upon the prior written consent of the Company and holders of at least a
majority of the number of BRS Registrable Securities; and any amendment to
which such written consent is obtained will be binding upon the Company and all
holders of Registrable Securities.

 

(d)           Successors
and Assigns. All covenants and agreements in this Agreement by or on behalf
of any of the parties hereto will bind and inure to the benefit of the
respective successors and assigns of the parties hereto whether so expressed or
not, including any corporation which is a successor to the Company.

 

(e)           Severability.
Whenever possible, each provision of this Agreement will be interpreted in such
manner as to be effective and valid under applicable law, but if any provision
of this Agreement is held to be prohibited by or invalid under applicable law,
such provision will be ineffective only to the extent of such prohibition or
invalidity, without invalidating the remainder of this Agreement.

 

15

 

(f)            Counterparts.
This Agreement may be executed simultaneously in two or more counterparts, any
one of which need not contain the signatures of more than one party, but all
such counterparts taken together will constitute one and the same Agreement.

 

(g)           Descriptive
Headings. The descriptive headings of this Agreement are inserted for
convenience only and do not constitute a part of this Agreement.

 

(h)           Governing
Law. This Agreement shall be governed by and construed in accordance with
the laws of the State of Delaware, without giving effect to any choice of law
or conflict of law provision or rule (whether of the State of Delaware or any
other jurisdiction) that would cause the application of the laws of any
jurisdiction other than the State of Delaware.

 

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

 

(j)            Transfer.
Prior to transferring any Registrable Securities (other than a transfer
pursuant to which such Securities cease to be Registrable Securities) to any
Person, the Person transferring such Registrable Securities will cause the
prospective transferee to execute and deliver to the Company, a joinder to this
Agreement substantially in the form of Exhibit A hereto pursuant to
which the prospective transferee agrees to be bound by this Agreement to the
same extent as the Person transferring such Registrable Securities with respect
to the Registrable Securities so transferred.

 

(k)           Issuance
by the Company of Additional Common Stock and Grant of Rights under this
Agreement. In connection with any issuance by the Company of shares of
Common Stock or securities convertible or exchangeable into Common Stock, the Parties
agree that, with the prior written consent of the holders of a majority of the
BRS Registrable Securities, the Company may grant (but shall be under no
obligation to grant) to the purchasers of such Common Stock or securities rights
substantially similar to the rights granted to the holders of Other Registrable
Securities hereunder (provided that, if such grant is made, each such purchaser
is also subject to the obligations of holders of Other Registrable Securities
hereunder) by causing each such purchaser to execute a joinder to this
Agreement substantially in the form of Exhibit A hereto.

 

(l)            Effectiveness
of this Agreement. This Agreement shall be effective as of the “Effective
Time of the H&E Holdings Merger” as defined in the Agreement and Plan of
Merger, and the H&E Holdings Registration Rights Agreement will thereafter
have no force and effect. In the event that the Merger shall not occur, this
Agreement shall be automatically terminated and the Parties shall have no
rights or obligations hereunder, and the H&E Holdings Registration Rights
Agreement shall continue in effect.

 

16

 

(m)          Termination.
This Agreement will automatically terminate and be of no further force or
effect immediately after the consummation of an Approved Company Sale.

 

(n)           Limited
Liability Company Agreement. The Parties acknowledge that the provisions of
Section 10.17(c) of the Limited Liability Company Agreement dated June 17, 2002
of H&E Holdings shall continue to be applicable for the period specified
therein in respect of the initial public offering effected pursuant to the
Current Registration Statement.

 

[Signature Pages Follow]

 

17

 

In witness whereof, the parties hereto have executed
this Agreement as of the date first above written.

 

	
  H&E Equipment Services, Inc.

  
	
   

  
	
  By:

  	
  /s/ John Engquist

  	
   

  
	
   

  	
   

  	
  John Engquist

  	
   

  
	
   

  	
   

  	
  President

  	
   

  

 

 

Amended and Restated Security
Holders Agreement dated as of February 3, 2006

 

18

 

	
  Bruckmann, Rosser, Sherrill & Co.,

  L.P.(1)

  	
  Bruckmann, Rosser, Sherrill & Co. II,

  L.P.  (1)

  
	
  By:

  	
  BRS Partners, LP

  	
  By:

  	
  BRSE LLC

  
	
  By:

  	
  BRSE Associates,
  Inc., its General

  Partner

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
  Print name:

  	
   

  	
   

  	
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  Bruckmann,
  Rosser, Sherrill & Co.,

  Inc.  (1)

  	
  The
  Estate of Donald J. Bruckmann(1)

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
  Print name:

  	
   

  	
   

  	
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  BCB
  Family Partners, L.P.  (1)

  	
  NAZ
  Family Partners, L.P.  (1)

  
	
   

  	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
  Print name:

  	
   

  	
   

  	
  Print name:

  	
   

  	
   

  
	
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  Harold
  Rosser Charitable Trust(1)

  	
  Stephen
  C. and Katherine D. Sherrill

  Foundation(1)

  
	
   

  	
   

  	
   

  
	
  By:

  	
   

  	
   

  	
  By:

  	
   

  	
   

  
	
  Print name:

  	
   

  	
   

  	
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  Bruce C. Bruckmann(1)

  	
   

  	
  Harold O. Rosser(1)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  H.
  Virgil Sherrill(1)

  	
   

  	
   

  	
  Stephen
  C. Sherrill(1)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Nancy
  A. Zweng(1)

  	
   

  	
   

  	
  Paul D.
  Kaminski(1)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  John
  Rice Edmonds(1)

  	
   

  	
   

  	
  Marilena
  Tibrea(1)

  	
   

  
																		

 

(1)       BRS Registrable Securities
Holders

 

Amended
and Restated Security Holders Agreement dated as of February 3, 2006

 

19

 

 

	
  Wheeler
  Investments, Inc.  (3)

  	
  Southern
  Nevada Capital Corporation(2)

  
	
   

  	
   

  
	
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  Bagley
  Family Investments, L.L.C.  (2)

  	
  The
  Connor Family Trust(3)

  
	
   

  	
   

  	
   

  
	
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  The
  McClain Family Revocable Trust(2)

  	
  Robert
  G. Williams Limited Partnership(3)

  
	
   

  	
   

  	
   

  	
   

  
	
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  C/J
  Land & Livestock L.P.(3)

  	
  John
  and Ellen Williams Limited

  Partnership(3)

  
	
   

  	
   

  	
   

  
	
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  John M. Engquist(2)

  	
   

  	
  Kristan Engquist Dunne(2)

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Don
  Wheeler(3)

  	
   

  	
   

  	
  Gary
  Bagley(3)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Kenneth
  Sharp, Jr.(2)

  	
   

  	
   

  	
  Lindsay
  Jones(3)

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Siegfried
  Wallin(3)

  	
   

  	
   

  	
   

  	
   

  
															

 

(1)  Other
Registrable Securities Holders

 

Amended and Restated Security
Holders Agreement dated as of February 3, 2006

 

20

 

 

Schedule A to Amended and

Restated Registration Rights
Agreement

 

Shares of Common Stock Issuable
Pursuant to the Merger

 

Attached

 

 

Exhibit A to Amended and

Restated Registration Rights
Agreement

 

Form of Joinder to

Amended and Restated Registration Rights Agreement

 

Joinder to the Amended
and Restated Registration Rights Agreement dated as of February 3, 2006 (the “Registration
Rights Agreement”)among H&E Equipment Services, Inc., a Delaware
corporation (the “Company”), and certain holders of the Common Stock,
par value $0.01 per share (the “Common Stock”), of the Company, is made
and entered into as of                          
by and between the Company and                          
(“Holder”). Capitalized terms used herein but not otherwise defined
shall have the meanings set forth in the Registration Rights Agreement.

 

Whereas, Holder has acquired                          
shares of the Common Stock from                          .

 

Now, therefore, in consideration of the mutual
covenants contained herein and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged, the parties to this
Joinder hereby agree as follows:

 

1.             Agreement
to be Bound. Holder hereby (i) acknowledges that it has received and
reviewed a complete copy of the Registration Rights Agreement and (ii) agrees
that upon execution of this Joinder, it shall become a party to the Registration
Rights Agreement and shall be fully bound by, and subject to, all of the
covenants, terms and conditions of the Registration Rights Agreement as though
an original party thereto. In addition, Holder hereby agrees that all Common Stock
held by Holder shall be deemed [BRS Registrable Securities/Other Registrable Securities]
and Registrable Securities for all purposes of the Registration Rights Agreement.

 

2.             Successors
and Assigns. Except as otherwise provided herein, this Joinder shall bind
and inure to the benefit of and be enforceable by the Company and its
successors, heirs and assigns and Holder and any subsequent holders of
Registrable Securities and the respective successors, heirs and assigns of each
of them, so long as they hold any Registrable Securities.

 

3.             Notices.
For purposes of Section 10 of the Agreement, all notices, demands or
other communications to the Holder shall be directed to:

 

[Name]

[Address]

 

4.             Counterparts.
This Joinder may be executed in separate counterparts each of which shall be an
original and all of which taken together shall constitute one and the same
agreement.

 

 

5.             Governing
Law. This Joinder shall be governed by and construed in accordance with the
laws of the State of Delaware, without giving effect to any rules, principles
or provisions of choice of law or conflict of laws.

 

6.             Descriptive
Headings. The descriptive headings of this Joinder are inserted for
convenience only and do not constitute a part of this Joinder.

 

In witness whereof, the parties hereto have executed
this Joinder to the Registration Rights Agreement as of the date set forth in
the introductory paragraph hereof.

 

	
  H&E Equipment Services, Inc.

  	
   

  	
  Holder:

  	
   

  
	
   

  	
   

  	
   

  
	
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2

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00097-of-00352.parquet"}]]