Document:

EX-4.1

NEITHER THE ISSUANCE NOR THE SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES LAWS. THE
SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE ABSENCE OF (A) AN
EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES ACT OF 1933, AS AMENDED,
OR (B) AN OPINION IN A GENERALLY ACCEPTABLE FORM OF COUNSEL, WHICH COUNSEL SHALL BE SELECTED BY THE
HOLDER AND BE REASONABLY ACCEPTABLE TO THE ISSUER, THAT REGISTRATION IS NOT REQUIRED UNDER SAID
ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE
MARGIN ACCOUNT OR OTHER LOAN OR FINANCING ARRANGEMENT SECURED BY THE SECURITIES. ANY TRANSFEREE OF
THIS NOTE SHOULD CAREFULLY REVIEW THE TERMS OF THIS NOTE.

VERTICALNET, INC.

Junior Unsecured Subordinated Note

	 	 	 
	Issuance Date: May 22, 2007

	 	Principal: U.S. $     

FOR VALUE RECEIVED, Verticalnet, Inc., a Pennsylvania corporation (the “Company”), hereby
promises to pay to      (“Holder”) the amount set out above as the Principal (the “Principal”)
when due, whether upon the Maturity Date (as defined below), acceleration, redemption or otherwise
(in each case in accordance with the terms hereof) and to pay interest (“Interest”) on any
outstanding Principal at the rate of 12.00% per annum (the “Interest Rate”), from the date set out
above as the Issuance Date (the “Issuance Date”) in accordance with the terms of the Note, until
the same becomes due and payable, whether upon the Maturity Date or upon acceleration, redemption
or otherwise (in each case, in accordance with the terms hereof). Certain capitalized terms used
herein are defined in Section 28. Capitalized terms not otherwise defined herein have the meanings
set forth in the Note Purchase Agreement.

(1) MATURITY. On the Maturity Date, the Holder shall surrender the Note to the
Company and the Company shall pay to the Holder an amount in cash representing all outstanding
Principal, accrued and unpaid Interest and accrued and unpaid Late Charges, if any. The “Maturity
Date” shall be the earlier of (i) May 15, 2012, (ii) the date on which any Fundamental Transaction
is consummated or (iii) such earlier time as provided herein.

(2) INTEREST; INTEREST RATE.

(a) Interest on this Note shall commence accruing on the Issuance Date and shall be computed
on the basis of a 360-day year comprised of twelve 30-day months and shall accrue monthly and be
payable on the Maturity Date. Interest on this Note shall accrue at the Interest Rate. From and
after the occurrence of an Event of Default, the Interest Rate shall be increased to 14.0% (the
"Default Rate”). In the event that such Event of Default is subsequently cured, the adjustment
referred to in the preceding sentence shall cease to be effective as of the date of such cure;
provided that the Interest as calculated at such increased rate during the continuance of such
Event of Default shall continue to apply to the extent relating to the days after the occurrence of
such Event of Default through and including the date of cure of such Event of Default.

(b) In the event that any interest rate(s) provided for in this Section 2 shall be determined
to be unlawful, such interest rate(s) shall be computed at the highest rate permitted by applicable
law. Any payment by the Company of any interest amount in excess of that permitted by law shall be
considered a mistake, with the excess being applied to the principal amount of this Note without
prepayment premium or penalty; if no such principal amount is outstanding, such excess shall be
returned to the Company.

(3) [Reserved.]

(4) EVENTS OF DEFAULT; RIGHTS UPON EVENTS OF DEFAULT.

(a) Events of Default. Each of the following events shall constitute an “Event of
Default”:

(i) the Company’s failure to pay to the Holder any amount when and as due under this
Note or any other Transaction Document (as defined in the Note Purchase Agreement);

(ii) the Company or any of its Subsidiaries, pursuant to or within the meaning of Title
11, U.S. Code, or any similar Federal, foreign or state law for the relief of debtors
(collectively, “Bankruptcy Law”), (A) commences a voluntary case, (B) consents to the entry
of an order for relief against it in an involuntary case, (C) consents to the appointment of
a receiver, trustee, assignee, liquidator or similar official (a “Custodian”), (D) makes a
general assignment for the benefit of its creditors or (E) admits in writing that it is
generally unable to pay its debts as they become due;

(iii) a court of competent jurisdiction enters an order or decree under any Bankruptcy
Law that (A) is for relief against the Company or any of its Subsidiaries in an involuntary
case, (B) appoints a Custodian of the Company or any of its Subsidiaries or (C) orders the
liquidation of the Company or any of its Subsidiaries;

(iv) bankruptcy, insolvency, reorganization or liquidation proceedings or other
proceedings for the relief of debtors shall be instituted by or against the Company or any
subsidiary of the Company and, if instituted against the Company or any subsidiary of the
Company by a third party, shall not be dismissed within 60 days of their initiation; or

(v) any Event of Default, under any of the Notes issued pursuant to the Note Purchase
Agreement.

(b) Acceleration. If an Event of Default occurs under Section 4(a)(iii) or (iv), then
the outstanding Principal of, all accrued Interest on, and any other amounts due under, this Note
shall automatically become immediately due and payable, without presentment, demand, protest or
notice of any kind, all of which are hereby expressly waived. If any other Event of Default occurs
and is continuing, the Holder, by written notice to the Company, may declare the Principal of, all
accrued Interest on, and any Late Charges or other amounts due under, this Note to be immediately
due and payable. Upon such declaration, such Principal, Interest, Late Charges and other amounts
shall become immediately due and payable. The Holder may rescind an acceleration and its
consequences if all existing Events of Default have been cured or waived, except nonpayment of
Principal, Interest, Late Charges or other amounts that have become due solely because of the
acceleration, and if the rescission would not conflict with any judgment or decree.

(5) CONVERSION.

(a) Upon the closing of a Subsequent Financing, this Note shall automatically convert, into
the Subsequent Shares. The number of shares (or other rights convertible into shares) of
Subsequent Shares into which this Note shall be converted will be that number of shares that equals
the quotient of (i) the aggregate principal amount of this Note, together with all accrued interest
thereon, divided by (ii) the per share purchase price of the Subsequent Shares paid at the closing
by the investors in such Subsequent Financing, without regard to any discount taken for any
warrants or additional rights issued in connection with the issuance of the Subsequent Shares, as
set forth in the applicable purchase agreement entered into by the Company and the investors in
such Subsequent Financing. Concurrently with the conversion of this Note, the Holder shall also be
granted all the same rights granted to all of the investors in such Subsequent Financing, whether
pursuant to the Company’s corporate charter, contracts or otherwise.

(b) No fractional shares of Subsequent Shares shall be issued upon conversion of this Note
pursuant to this Section 5(a). In lieu of the Company issuing any fractional shares to the
Holder upon the conversion of this Note, the Company shall pay to the Holder the amount of
outstanding principal and accrued interest that is not so converted, such payment to be in the form
as provided below. As of the closing of a Subsequent Financing and the conversion of this Note
pursuant to this Section 5(a), the Holder shall surrender this Note, duly endorsed, at the
principal office of the Company. At its expense, the Company shall immediately issue and deliver
to such Holder at such principal office a certificate or certificates for the number of shares of
such Subsequent Shares to which the Holder shall be entitled upon such conversion (bearing such
legends as are required by the applicable purchase agreement entered into by the Company and the an
investors in such Subsequent Financing), together with any other securities and property to which
the Holder is entitled upon such conversion under the terms of this Note, including a check payable
to the Holder for any cash amounts payable as described above.

(c) In the event of any conversion of this Note pursuant to this Section 5(a), such
conversion shall be deemed to have been made concurrently with the closing of a Subsequent
Financing and the issuance and sale of the Subsequent Shares thereto, and on and after such date
the Holder of this Note entitled to receive the shares of such Subsequent Shares issuable upon such
conversion shall be treated for all purposes as the record holder of such shares and a purchaser of
such shares under the applicable purchase agreement entered into by the Company and the an
investors in such Subsequent Financing, and shall be bound by the terms of such purchase agreement
upon execution thereof. Upon conversion of this Note as set forth in this Section 5(a),
the Company shall be forever released from all its obligations and liabilities under this Note,
except that the Company shall be obligated to pay the Holder, within ten (10) days after the date
of such conversion, any fractional shares, as described above.

(6) VOLUNTARY PREPAYMENT. The Company may prepay this Note in whole or in part at any
time upon 10 Business Days prior written notice to the Holders. On the date of such prepayment,
the Company shall pay any accrued and unpaid Interest on the Principal through the date of such
prepayment together with the amount of any accrued and unpaid Late Charges and the Principal.

(7) FUNDAMENTAL TRANSACTION. Notwithstanding anything to the contrary set forth in
this Note, upon the occurrence of a Fundamental Transaction, in satisfaction of all the Company’s
rights, obligations and liabilities under this Note and the Note Purchase Agreement, contingent
upon the closing of such Fundamental Transaction, the Company shall pay or cause to be paid to
Holder (the “Fundamental Transaction Amount”) an amount equal to the product of (a) the
aggregate outstanding principal amount of this Note, together with all accrued interest thereon,
times (b) 1.075; provided, however, that in the event such Fundamental Transaction
occurs within 60 days after the Issuance Date, the Fundamental Transaction Amount shall equal the
product of (a) the aggregate outstanding principal amount of this Note, together with all accrued
interest thereon, times (b) 1.05.

(8) [Reserved.]

(9) [Reserved.]

(10) NONCIRCUMVENTION. The Company hereby covenants and agrees that the Company will
not, by amendment of its Articles of Incorporation, Bylaws or through any reorganization, transfer
of assets, consolidation, merger, scheme of arrangement, dissolution, issue or sale of securities,
or any other voluntary action, avoid or seek to avoid the observance or performance of any of the
terms of this Note, and will at all times in good faith carry out all of the provisions of this
Note and take all action as may be required to protect the rights of the Holder of this Note.

(11) [Reserved.]

(12) [Reserved.]

(13) SUBORDINATION.

(a) The indebtedness evidenced by this Note is and shall be subordinate in right of payment to
the prior payment in full of the Senior Indebtedness and the Senior Subordinated Indebtedness.

(b) In the event the Holder institutes a demand for, suit for, declaration of a default as to,
or acceleration of the Maturity Date of the indebtedness evidenced by this Note, the Holder shall
not take or receive from the Company, directly or indirectly, in cash or other property or by
setoff or in any other manner (including, without limitation, from or by way of collateral),
payment of all or any of the payments due under this Note, or exercise rights against any assets of
the Company, unless and until the Senior Indebtedness and the Senior Subordinated Indebtedness
shall have been paid in full.

(c) Upon any distribution of all or any of the assets of the Company to creditors of the
Company upon the dissolution, winding up, liquidation, arrangement, reorganization, adjustment,
protection, relief or composition of the Company or its debts, whether in any bankruptcy,
insolvency, arrangement, reorganization, receivership, relief or similar proceedings or upon an
assignment for the benefit of creditors or any other marshalling of the assets and liabilities of
the Company or otherwise, (i) no amount shall be paid by the Company in respect of the Principal or
interest thereon at the time outstanding, unless and until the principal of and interest on the
Senior Indebtedness and the Senior Subordinated Indebtedness then outstanding shall have been paid
in full, (ii) no claim or proof of claim shall be filed with the Company by or on behalf of the
Holder which shall assert any right to receive any payments in respect of the amounts due under
this Note except subject to the payment in full of the Senior Indebtedness and the Senior
Subordinated Indebtedness then outstanding and (iii) any payment or distribution of any kind
(whether in cash, property or securities) which otherwise would be payable or deliverable upon or
with respect to this Note shall be paid or delivered directly to the holders of the Senior
Indebtedness and the Senior Subordinated Indebtedness (in the case of cash) to or as collateral (in
the case of noncash property or securities) for the payment or prepayment of the Senior
Indebtedness and the Senior Subordinated Indebtedness until the Senior Indebtedness and the Senior
Subordinated Indebtedness shall have been paid in full.

(14) [Reserved.]

(15) [Reserved.]

(16) [Reserved.]

(17) TRANSFER. This Note may be offered, sold, assigned or transferred by the Holder
without the consent of the Company, subject only to the provisions of Section 2(f) of the Note
Purchase Agreement.

(18) REISSUANCE OF THIS NOTE.

(a) Transfer. If this Note is to be transferred, the Holder shall surrender this Note
to the Company, whereupon the Company will forthwith issue and deliver upon the order of the Holder
a new Note (in accordance with Section 18(d)), registered as the Holder may request, representing
the outstanding Principal being transferred by the Holder and, if less then the entire outstanding
Principal is being transferred, a new Note (in accordance with Section 18(d)) to the Holder
representing the outstanding Principal not being transferred. The Holder and any assignee, by
acceptance of this Note, acknowledge and agree following redemption of any portion of this Note,
the outstanding Principal represented by this Note may be less than the Principal amount stated on
the face of this Note.

(b) Lost, Stolen or Mutilated Note. Upon receipt by the Company of evidence
reasonably satisfactory to the Company of the loss, theft, destruction or mutilation of this Note,
and, in the case of loss, theft or destruction, of any indemnification undertaking by the Holder to
the Company in customary form and, in the case of mutilation, upon surrender and cancellation of
this Note, the Company shall execute and deliver to the Holder a new Note (in accordance with
Section 18(d)) representing the outstanding Principal.

(c) Note Exchangeable for Different Denominations. This Note is exchangeable, upon
the surrender hereof by the Holder at the principal office of the Company, for a new Note or Notes
(in accordance with Section 18(d) and in principal amounts of at least $50,000) representing in the
aggregate the outstanding Principal of this Note, and each such new Note will represent such
portion of such outstanding Principal as is designated by the Holder at the time of such surrender.

(d) Issuance of New Notes. Whenever the Company is required to issue a new Note
pursuant to the terms of this Note, such new Note (i) shall be of like tenor with this Note, (ii)
shall represent, as indicated on the face of such new Note, the Principal remaining outstanding (or
in the case of a new Note being issued pursuant to Section 18(a) or Section 18(c), the Principal
designated by the Holder which, when added to the principal represented by the other new Notes
issued in connection with such issuance, does not exceed the Principal remaining outstanding under
this Note immediately prior to such issuance of new Notes), (iii) shall have an issuance date, as
indicated on the face of such new Note, which is the same as the Issuance Date of this Note, (iv)
shall have the same rights and conditions as this Note, and (v) shall represent accrued Interest
and Late Charges on the Principal and Interest of this Note, from the Issuance Date.

(19) REMEDIES, CHARACTERIZATIONS, OTHER OBLIGATIONS, BREACHES AND INJUNCTIVE RELIEF.
The remedies provided in this Note shall be cumulative and in addition to all other remedies
available under this Note and any of the other Transaction Documents at law or in equity (including
a decree of specific performance and/or other injunctive relief), and nothing herein shall limit
the Holder’s right to pursue actual and consequential damages for any failure by the Company to
comply with the terms of this Note. The Company covenants to the Holder that there shall be no
characterization concerning this instrument other than as expressly provided herein. Amounts set
forth or provided for herein with respect to payments and the like (and the computation thereof)
shall be the amounts to be received by the Holder and shall not, except as expressly provided
herein, be subject to any other obligation of the Company (or the performance thereof). The
Company acknowledges that a breach by it of its obligations hereunder will cause irreparable harm
to the Holder and that the remedy at law for any such breach may be inadequate. The Company
therefore agrees that, in the event of any such breach or threatened breach, the Holder shall be
entitled, in addition to all other available remedies, to an injunction restraining any breach,
without the necessity of showing economic loss and without any bond or other security being
required.

(20) PAYMENT OF COLLECTION, ENFORCEMENT AND OTHER COSTS. If (a) this Note is placed
in the hands of an attorney for collection or enforcement or is collected or enforced through any
legal proceeding or the Holder otherwise takes action to collect amounts due under this Note or to
enforce the provisions of this Note or (b) there occurs any bankruptcy, reorganization,
receivership of the Company or other proceedings affecting Company creditors’ rights and involving
a claim under this Note, then the Company shall pay the costs incurred by the Holder for such
collection, enforcement or action or in connection with such bankruptcy, reorganization,
receivership or other proceeding, including, but not limited to, attorneys’ fees and disbursements.

(21) CONSTRUCTION; HEADINGS. This Note shall be deemed to be jointly drafted by the
Company and the Holder and shall not be construed against any person as the drafter hereof. The
headings of this Note are for convenience of reference and shall not form part of, or affect the
interpretation of, this Note.

(22) FAILURE OR INDULGENCE NOT WAIVER. No failure or delay on the part of the Holder
in the exercise of any power, right or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any such power, right or privilege preclude other or
further exercise thereof or of any other right, power or privilege.

(23) [Reserved.]

(24) NOTICES; PAYMENTS.

(a) Notices. Whenever notice is required to be given under this Note, unless
otherwise provided herein, such notice shall be given in accordance with Section 7(f) of the Note
Purchase Agreement. The Company shall provide the Holder with prompt written notice of all actions
taken pursuant to this Note, including in reasonable detail a description of such action and the
reason therefore.

(b) Payments. Whenever any payment of cash is to be made by the Company to any Person
pursuant to this Note, such payment shall be made in lawful money of the United States of America
by wire transfer of immediately available funds in accordance with the Holder’s wire transfer
instructions provided to the Company by the Holder. Whenever any amount expressed to be due by the
terms of this Note is due on any day which is not a Business Day, the same shall instead be due on
the next succeeding day which is a Business Day and, in the case of any Interest Date which is not
the date on which this Note is paid in full, the extension of the due date thereof shall not be
taken into account for purposes of determining the amount of Interest due on such date. Any amount
of Principal, Interest or other amounts due under the Transaction Documents which is not paid when
due shall result in a late charge being incurred and payable by the Company in an amount equal to
interest on such amount at the rate of 14% per annum from the date such amount was due until the
same is paid in full (“Late Charge”).

(25) CANCELLATION. After all Principal, accrued Interest and other amounts at any
time owed on this Note have been paid in full, this Note shall automatically be deemed canceled,
shall be surrendered to the Company for cancellation and shall not be reissued.

(26) WAIVER OF NOTICE. To the extent permitted by law, the Company hereby waives
demand, notice, protest and all other demands and notices in connection with the delivery,
acceptance, performance, default or enforcement of this Note and the Note Purchase Agreement.

(27) GOVERNING LAW. This Note shall be construed and enforced in accordance with, and
all questions concerning the construction, validity, interpretation and performance of this Note
shall be governed by, the internal laws of the Commonwealth of Pennsylvania, without giving effect
to any choice of law or conflict of law provision or rule (whether of the Commonwealth of
Pennsylvania or any other jurisdictions) that would cause the application of the laws of any
jurisdictions other than the Commonwealth of Pennsylvania.

(28) CERTAIN DEFINITIONS. For purposes of this Note, the following terms shall have
the following meanings:

(a) "Business Day” means any day other than Saturday, Sunday or other day on which commercial
banks in The City of New York are authorized or required by law to remain closed.

(b) "Fundamental Transaction” means: a transaction or series of related transactions pursuant
to which the Company: (i) sells, conveys or disposes of all or substantially all of its assets (the
presentation of any such transaction for shareholder approval being conclusive evidence that such
transaction involves the sale of all or substantially all of the assets of the Company); or (ii)
merges or consolidates with or into, or engages in any other business combination with, any other
person or entity, in any case that results in the holders of the voting securities of the Company
immediately prior to such transaction holding or having the right to direct the voting of 50% or
less of the total outstanding voting securities of the Company or such other surviving or acquiring
person or entity immediately following such transaction.

(c) "GAAP” means United States generally accepted accounting principles, consistently applied.

(d) "Note Purchase Agreement” means the Note Purchase Agreement dated as of May 15, 2007 by
and among the Company and the Buyers pursuant to which the Company issued the Notes.

(e) "Person” means an individual, a limited liability company, a partnership, a joint venture,
a corporation, a trust, an unincorporated organization, any other entity and a government or any
department or agency thereof.

(f) "Senior Indebtedness” means the principal of (and penalty or premium, if any), interest
on, and all fees and other amounts (including, without limitation, any reasonable out-of-pocket
costs, enforcement expenses (including reasonable out-of-pocket legal fees and disbursements),
collateral protection expenses and other reimbursement or indemnity obligations relating thereto)
payable by Company under or in connection with the Senior Secured Convertible Promissory Notes due
to July 2, 2007 issued by the Company on August 16, 2005.

(g) “Senior Subordinated Indebtedness” means principal of (and penalty or premium, if any),
interest on, and all fees and other amounts (including, without limitation, any reasonable
out-of-pocket costs, enforcement expenses (including reasonable out-of-pocket legal fees and
disbursements), collateral protection expenses and other reimbursement or indemnity obligations
relating thereto) payable by Company under or in connection with the Senior Subordinated Discounted
Promissory Note, issued by the Company on May 16, 2006.

(29) [Reserved.]

(30) CONSENT TO JURISDICTION; JURY TRIAL WAIVER. The Company and the Holder
irrevocably consent to the exclusive jurisdiction of the United States federal courts and the state
courts located in the County of Philadelphia, Commonwealth of Pennsylvania, in any suit or
proceeding based on or arising under this Note and irrevocably agree that all claims in respect of
such suit or proceeding may be determined in such courts. The Company irrevocably waives the
defense of an inconvenient forum to the maintenance of such suit or proceeding in such forum. The
Company further agrees that service of process upon the Company mailed by first class mail shall be
deemed in every respect effective service of process upon the Company in any such suit or
proceeding. Nothing herein shall affect the right of the Holder to serve process in any other
manner permitted by law. The Company agrees that a final non-appealable judgment in any such suit
or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on such
judgment or in any other lawful manner. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT MAY HAVE
TO, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR IN
CONNECTION WITH OR ARISING OUT OF THIS NOTE OR ANY TRANSACTION CONTEMPLATED HEREBY.

[Signature Page Follows]

1

IN WITNESS WHEREOF, the Company has caused this Note to be duly executed as of the Issuance
Date set forth above.

	 
	 

	VERTICALNET, INC.

	 

	By: /s/ Christopher G. Kuhn

	 

	Name: Christopher G. Kuhn

	Title: Vice President and General Counsel

	 

2EX-10.1

NOTE PURCHASE AGREEMENT

NOTE PURCHASE AGREEMENT (the “Agreement”), dated as of May 15, 2007, by and among Verticalnet,
Inc., a Pennsylvania corporation, with headquarters located at 400 Chester Field Parkway, Malvern,
Pennsylvania 19355 (the "Company”), and the investors listed on the Schedule of Buyers attached
hereto (individually, a “Buyer” and collectively, the “Buyers”). All capitalized terms used herein
and not defined herein have the respective meanings provided therefor in the Notes (as defined
below).

WHEREAS:

A. The Company has authorized the sale and issuance of a new series of junior unsecured
subordinated notes, in the form attached hereto as Exhibit A (as amended or modified from
time to time, collectively, the “Notes”).

B. Each Buyer wishes to purchase, and the Company wishes to sell, upon the terms and
conditions stated in this Agreement, that aggregate principal amount of Notes set forth opposite
such Buyer’s name in column (3) on the Schedule of Buyers (which aggregate principal amount for all
Buyers shall be $600,000).

NOW, THEREFORE, the Company and each Buyer hereby agree as follows:

1. PURCHASE AND SALE OF NOTES.

(a) Purchase of Notes. On the Closing Date, the Company shall issue and sell to each
Buyer, and each Buyer agrees to purchase from the Company, on the Closing Date (as defined below),
the principal amount of Notes set forth opposite such Buyer’s name in column (3) on the Schedule of
Buyers.

(b) Closing. The date and time of the Closing (the “Closing Date”) shall be 10:00
a.m., New York City time, on a date mutually agreed to by the Company and Buyers, such Closing Date
to be as soon as practicable following satisfaction (or waiver) of the conditions to the Closing
set forth in Sections 5 and 6 below at the offices of Morgan, Lewis & Bockius LLP, 1701 Market
Street, Philadelphia, PA 19103.

(c) Purchase Price. The aggregate purchase price for the Notes to be purchased by
each Buyer at the Closing (the “Purchase Price”) shall be the amount set forth opposite such
Buyer’s name in column (4) of the Schedule of Buyers.

(d) Form of Payment. On the Closing Date, (i) each Buyer shall pay its Purchase Price
to the Company for the Notes to be issued and sold to such Buyer at the Closing, by wire transfer
of immediately available funds in accordance with the Company’s written wire instructions, and
(ii) the Company shall deliver to each Buyer the Notes (in the principal amounts as such Buyer
shall request) which such Buyer is then purchasing, duly executed on behalf of the Company and
registered in the name of such Buyer or its designee.

2. BUYER’S REPRESENTATIONS AND WARRANTIES.

Each Buyer represents and warrants with respect to only itself that:

(a) No Public Sale or Distribution. Such Buyer is acquiring the Notes for its own
account and not with a view towards, or for resale in connection with, the public sale or
distribution thereof, except pursuant to sales registered or exempted under the Securities Act of
1933, as amended (the “1933 Act”); provided, however, that by making the
representations herein, such Buyer does not agree to hold any of the Notes for any minimum or other
specific term and reserves the right to dispose of the Notes at any time in accordance with or
pursuant to a registration statement or an exemption under the 1933 Act.

(b) Accredited Investor Status. Such Buyer is an “accredited investor” as that term
is defined in Rule 501(a) of Regulation D of the 1933 Act.

(c) Reliance on Exemptions. Such Buyer understands that the Notes are being offered
and sold to it in reliance on exemptions from the registration requirements of United States
federal and state securities laws and that the Company is relying in part upon the truth and
accuracy of, and such Buyer’s compliance with, the representations, warranties, agreements,
acknowledgments and understandings of such Buyer set forth herein in order to determine the
availability of such exemptions and the eligibility of such Buyer to acquire the Notes.

(d) Information. Such Buyer and its advisors, if any, have been furnished with all
materials relating to the business, finances and operations of the Company and materials relating
to the offer and sale of the Notes that have been requested by such Buyer. Such Buyer and its
advisors, if any, have been afforded the opportunity to ask questions of the Company. Neither such
inquiries nor any other due diligence investigations conducted by such Buyer or its advisors, if
any, or its representatives shall modify, amend or affect such Buyer’s right to rely on the
Company’s representations and warranties contained herein. Such Buyer understands that its
investment in the Notes involves a high degree of risk. Such Buyer has sought such accounting,
legal and tax advice as it has considered necessary to make an informed investment decision with
respect to its acquisition of the Notes.

(e) No Governmental Review. Such Buyer understands that no United States federal or
state agency or any other government or governmental agency has passed on or made any
recommendation or endorsement of the Notes or the fairness or suitability of the investment in the
Notes nor have such authorities passed upon or endorsed the merits of the offering of the Notes.

(f) Transfer or Resale. Such Buyer understands that: (i) the Notes have not been and
are not being registered under the 1933 Act or any state securities laws, and may not be offered
for sale, sold, assigned or transferred unless (A) subsequently registered thereunder, (B) such
Buyer shall have delivered to the Company an opinion, in generally acceptable form, of counsel
selected by the Buyer and reasonably satisfactory to the Company, to the effect that such Notes to
be sold, assigned or transferred may be sold, assigned or transferred pursuant to an exemption from
such registration, or (C) such Buyer provides the Company with reasonable assurance that such Notes
can be sold, assigned or transferred pursuant to Rule 144 or Rule 144A promulgated under the 1933
Act (or a successor rule thereto) (collectively, “Rule 144”); (ii) any sale of the Notes may
require compliance with some other exemption under the 1933 Act or the rules and regulations of the
United States Securities and Exchange Commission (the “SEC”) thereunder; and (iii) the Company is
under no obligation to register the Notes under the 1933 Act or any state securities laws or to
comply with the terms and conditions of any exemption thereunder.

(g) Legends. Such Buyer understands that the instruments representing the Notes shall
bear any legend that is required by the “blue sky” laws of any state and a restrictive legend in
substantially the following form (and a stop-transfer order may be placed against transfer of such
stock certificates):

NEITHER THE ISSUANCE NOR THE SALE OF THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAS BEEN
REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR APPLICABLE STATE SECURITIES
LAWS. THE SECURITIES MAY NOT BE OFFERED FOR SALE, SOLD, TRANSFERRED OR ASSIGNED IN THE
ABSENCE OF (A) AN EFFECTIVE REGISTRATION STATEMENT FOR THE SECURITIES UNDER THE SECURITIES
ACT OF 1933, AS AMENDED, OR (B) AN OPINION IN A GENERALLY ACCEPTABLE FORM OF COUNSEL, WHICH
COUNSEL SHALL BE SELECTED BY THE HOLDER AND BE REASONABLY ACCEPTABLE TO THE ISSUER, THAT
REGISTRATION IS NOT REQUIRED UNDER SAID ACT. NOTWITHSTANDING THE FOREGOING, THE SECURITIES
MAY BE PLEDGED IN CONNECTION WITH A BONA FIDE MARGIN ACCOUNT OR OTHER LOAN OR FINANCING
ARRANGEMENT SECURED BY THE SECURITIES. ANY TRANSFEREE OF THIS NOTE SHOULD CAREFULLY REVIEW
THE TERMS OF THIS NOTE.

(h) Authorization; Validity; Enforcement. Such Buyer has the requisite power and
authority to enter into and perform its obligations under this Agreement, the Notes, and each of
the other agreements entered into by the parties hereto in connection with the transactions
contemplated by the Transaction Documents (as defined below). This Agreement has been, and when
the other Transaction Documents to which such Buyer is a party are executed and delivered in
accordance with the terms and conditions contemplated hereby and thereby, such documents shall have
been, duly and validly authorized, executed and delivered on behalf of such Buyer and shall
constitute the legal, valid and binding obligations of such Buyer enforceable against such Buyer in
accordance with their respective terms, except as such enforceability may be limited by general
principles of equity or to applicable bankruptcy, insolvency, reorganization, fraudulent
conveyance, moratorium, liquidation and other similar laws relating to, or affecting generally, the
enforcement of applicable creditors’ rights and remedies.

(i) Residency. Such Buyer is a resident of the jurisdiction specified below its
address on the Schedule of Buyers.

3. REPRESENTATIONS AND WARRANTIES OF THE COMPANY. 

The Company represents and warrants to each of the Buyers that:

(a) Organization and Qualification. The Company is duly organized and validly
existing in good standing under the laws of the jurisdiction in which it was formed, and has the
requisite power and authority to own its properties and to carry on its business as now being
conducted.

(b) Authorization; Enforcement; Validity. The Company has the requisite power and
authority to enter into and perform its obligations under this Agreement and the Notes (together,
the “Transaction Documents”). The execution and delivery of the Transaction Documents to which the
Company is a party and the consummation by the Company of the transactions contemplated hereby and
thereby have been duly authorized by the Company’s Board of Directors and no further filing,
consent or authorization is required by the Company, its Board of Directors or its stockholders.
This Agreement and the other Transaction Documents to which the Company is a party have been duly
executed and delivered by the Company, and constitute or, in the case of the Notes, will
constitute, the legal, valid and binding obligations of the Company, enforceable against the
Company in accordance with their respective terms, except as such enforceability may be limited by
general principles of equity or applicable bankruptcy, insolvency, reorganization, moratorium,
fraudulent conveyance, liquidation or similar laws relating to, or affecting generally, the
enforcement of applicable creditors’ rights and remedies.

(c) Offer of Notes. The offer by the Company of the Notes is exempt from registration
under the 1933 Act.

(d) No Conflicts. The execution, delivery and performance of the Transaction
Documents to which the Company is a party and the consummation by the Company of the transactions
contemplated hereby and thereby will not (i) result in a violation of any articles of
incorporation, certificate of formation, any certificate of designations or other constituent
documents of the Company or any of its “Subsidiaries” (which for purposes of this Agreement means
any entity of which the Company, directly or indirectly, owns or controls a majority of the shares
of capital stock or holds or controls a majority of all equity or similar interests then
outstanding), any capital stock of the Company or any of its Subsidiaries, or the bylaws of the
Company or any of its Subsidiaries or (ii) except for the consent of the holder of the Senior
Subordinated Indebtedness (as defined in the Notes), conflict with, or constitute a default (or an
event which with notice or lapse of time or both would become a default) under, or give to others
any rights of termination, amendment, acceleration or cancellation of, any agreement, indenture or
instrument to which the Company or any of its Subsidiaries is a party, or (iii) result in a
violation of any law, rule, regulation, order, judgment or decree (including federal and state
securities laws and regulations) applicable to the Company or any of its Subsidiaries or by which
any property or asset of the Company or any of its Subsidiaries is bound or affected.

(e) Consents. Except for the consent of the holder of the Senior Subordinated
Indebtedness, the Company is not required to obtain any consent, authorization or order of, or make
any filing or registration with, any court, governmental agency or any regulatory or
self-regulatory agency or any other Person in order for it to execute, deliver or perform any of
its obligations under or contemplated by the Transaction Documents to which it is a party, in each
case in accordance with the terms hereof or thereof, other than any filing required to be made by
the Company following the Closing with the SEC and related state securities law filings.

(f) No General Solicitation; Placement Agent’s Fees. None of the Company, any of its
affiliates, or any Person acting on its or their behalf, has engaged in any form of general
solicitation or general advertising (within the meaning of Regulation D of the 1933 Act) in
connection with the offer or sale of the Notes. The Company shall be responsible for the payment
of any placement agent’s fees, financial advisory fees, or brokers’ commissions (other than for
persons engaged by any Buyer or its investment advisor) relating to or arising out of the
transactions contemplated hereby. The Company shall pay, and hold each Buyer harmless against, any
liability, loss or expense (including, without limitation, attorney’s fees and out-of-pocket
expenses) arising in connection with any such claim. The Company has not engaged any placement
agent or other agent in connection with the sale of the Notes.

(g) No Integrated Offering. None of the Company, its Subsidiaries, any of their
affiliates, or any Person acting on their behalf has, directly or indirectly, made any offers or
sales of any security or solicited any offers to buy any security, under circumstances that would
require registration of any of the Notes under the 1933 Act or cause this offering of the Notes to
be integrated with prior offerings by the Company for purposes of the 1933 Act.

(h) Ranking of Notes. Except for the Senior Indebtedness (as defined in the Notes),
and the Senior Subordinated Indebtedness, as of the date hereof no Indebtedness of the Company or
any of its Subsidiaries, at the Closing, is senior to the Notes in right of payment, whether with
respect of payment or redemptions, interest, damages or upon liquidation or dissolution or
otherwise, excluding (i) the obligations of the Company or its Subsidiaries under any lease of real
or personal property by such Person as lessee which is required under GAAP to be capitalized on
such Person’s balance sheet and (ii) Indebtedness permitted by clause (v) of the definition of
“Permitted Lien” set forth in the Notes.

4. COVENANTS; REGISTER; TRANSFER OF NOTES.

(a) Disclosure of Transactions and Other Material Information. On or before 8:30
a.m., on the fourth Business Day following the Closing Date, the Company shall file a Current
Report on Form 8-K, in each case, describing the terms of the transactions contemplated by the
Transaction Documents in the form required by the Securities Exchange Act of 1934, as amended (the
"8-K Filing”). The Company shall be entitled, without the prior approval of any Buyer, to make any
press release or other public disclosure with respect to such transactions (i) in substantial
conformity with the 8-K Filing and contemporaneously therewith and (ii) as is required by
applicable law and regulations (provided that in the case of clause (i) the Buyers shall be
consulted by the Company in connection with and given an opportunity to review and comment on any
such press release or other public disclosure prior to its release).

(b) Conversion Rights. Immediately prior to or simultaneously with a Subsequent
Financing (as defined below), the principal amount and unpaid interest on the Notes as of the date
thereof shall automatically convert, without any further action on the part of the Buyer (or a
subsequent holder in the event of transfer of any Note) or the Company, in accordance with the
terms and conditions of the Notes, into Subsequent Shares (as defined below). “Subsequent Shares”
means any shares of the Company’s Common Stock, par value $0.01 per share (“Common Stock”), shares
of its Preferred Stock, par value $0.01 per share (“Preferred Stock”), or any other securities
convertible into or exercisable or exchangeable for Common Stock or Preferred Stock. “Subsequent
Financing” means the closing of financing transaction pursuant to which the Company sells
Subsequent Shares and receives aggregate gross proceeds that equal to not less than $1,000,000
(including the conversion of the principal amount and interest due under the Notes) prior to the
earlier of: (i) the Maturity Date (as defined in the Notes) or (ii) the repayment by the Company of
the principal amount and all accrued and unpaid interest on the Notes.

(c) Register. The Company shall maintain at its principal executive offices (or such
other office or agency as it may designate by notice to each holder of Notes), a register for the
Notes, in which the Company shall record the name and address of the Person in whose name the Notes
have been issued (including the name and address of each transferee) and the principal amount of
Notes held by such Person. The Company shall keep the register open and available at all times
during business hours for inspection of any Holder or its legal representatives.

(d) Transfer of Notes. If a Buyer effects a sale, assignment or transfer of the Notes
in accordance with Section 2(f) hereof, the Company shall permit the transfer and shall promptly
issue one or more Notes to the applicable Buyer in such name and in such denominations as specified
by such Buyer to effect such sale, transfer or assignment. The Company acknowledges that a breach
by it of its obligations hereunder will cause irreparable harm to a Buyer. Accordingly, the
Company acknowledges that the remedy at law for a breach of its obligations under this Section 4(d)
will be inadequate and agrees, in the event of a breach or threatened breach by the Company of the
provisions of this Section 4(d), that a Buyer shall be entitled, in addition to all other available
remedies, to an order and/or injunction restraining any breach and requiring immediate issuance and
transfer, without the necessity of showing economic loss and without any bond or other security
being required.

5. CONDITIONS TO THE COMPANY’S OBLIGATION TO SELL.

The obligation of the Company hereunder to issue and sell the Notes to each Buyer at the
Closing is subject to the satisfaction, at or before the Closing Date, of each of the following
conditions, provided that these conditions are for the Company’s benefit and may be waived by the
Company at any time in their discretion by providing each Buyer with prior written notice thereof:

(a) Such Buyer shall have executed this Agreement and delivered the same to the Company.

(b) Such Buyer and each other Buyer shall have delivered to the Company the Purchase Price for
the Notes being purchased by such Buyer at the Closing by wire transfer of immediately available
funds pursuant to the wire instructions provided by the Company.

(c) The representations and warranties of such Buyer shall be true and correct in all material
respects as of the date when made and as of the Closing Date as though made at that time (except
for representations and warranties that speak as of a specific date), and such Buyer shall have
performed, satisfied and complied in all material respects with the covenants, agreements and
conditions required by this Agreement to be performed, satisfied or complied with by such Buyer at
or prior to the Closing Date.

(d) The Company shall have received the consent of the holder of the Senior Subordinated
Indebtedness.

6. CONDITIONS TO EACH BUYER’S OBLIGATION TO PURCHASE.

The obligation of each Buyer hereunder to purchase the Notes at the Closing is subject to the
satisfaction, at or before the Closing Date, of each of the following conditions, provided that
these conditions are for each Buyer’s sole benefit and may be waived by such Buyer at any time in
its sole discretion by providing the Company with prior written notice thereof:

(a) The Company shall have executed and delivered to such Buyer (i) each of the Transaction
Documents and (ii) the Notes (in such principal amounts as such Buyer shall request) being
purchased by such Buyer at the Closing pursuant to this Agreement.

(b) The Company shall have delivered to such Buyer evidence of the Company’s subsistence under
the laws of the Commonwealth of Pennsylvania.

(c) The representations and warranties of the Company shall be true and correct in all
material respect as of the date when made and as of the Closing Date as though made at that time
(except for representations and warranties that speak as of a specific date) and the Company shall
have performed, satisfied and complied in all material respects with the covenants, agreements and
conditions required by the Transaction Documents to be performed, satisfied or complied with by the
Company at or prior to the Closing Date.

7. MISCELLANEOUS.

(a) Governing Law; Jurisdiction; Jury Trial. The Company and the Buyers irrevocably
consent to the exclusive jurisdiction of the United States federal courts and the state courts
located in the County of Philadelphia, Commonwealth of Pennsylvania, in any suit or proceeding
based on or arising under this Agreement or the Notes and irrevocably agree that all claims in
respect of such suit or proceeding may be determined in such courts. The Company and the Buyers
irrevocably waive the defense of an inconvenient forum to the maintenance of such suit or
proceeding in such forum. The Company and the Buyers further agree that service of process upon
such party mailed by first class mail shall be deemed in every respect effective service of process
upon such party in any such suit or proceeding. EACH PARTY HEREBY IRREVOCABLY WAIVES ANY RIGHT IT
MAY HAVE, AND AGREES NOT TO REQUEST, A JURY TRIAL FOR THE ADJUDICATION OF ANY DISPUTE HEREUNDER OR
IN CONNECTION WITH OR ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY.

(b) Counterparts. This Agreement may be executed in two or more identical
counterparts, all of which shall be considered one and the same agreement and shall become
effective when counterparts have been signed by each party and delivered to the other party;
provided that a facsimile signature or a signature delivered as a “pdf” attachment to an electronic
message shall be considered due execution and shall be binding upon the signatory thereto with the
same force and effect as if the signature were an original, not a facsimile or “pdf” signature.

(c) Headings. The headings of this Agreement are for convenience of reference and
shall not form part of, or affect the interpretation of, this Agreement.

(d) Severability. If any provision of this Agreement shall be invalid or
unenforceable in any jurisdiction, such invalidity or unenforceability shall not affect the
validity or enforceability of the remainder of this Agreement in that jurisdiction or the validity
or enforceability of any provision of this Agreement in any other jurisdiction.

(e) Entire Agreement; Amendments. This Agreement supersedes all other prior oral or
written agreements between the Buyers, the Company, their affiliates and Persons acting on their
behalf with respect to the matters discussed herein, and this Agreement and the instruments
referenced herein contain the entire understanding of the parties with respect to the matters
covered herein and therein and, except as specifically set forth herein or therein, neither the
Company nor any Buyer makes any representation, warranty, covenant or undertaking with respect to
such matters. No provision of this Agreement may be amended other than by an instrument in writing
signed by the Company and the holders of at least 66-2/3% of the aggregate principal amount of
Notes to be issued hereunder, and any amendment to this Agreement made in conformity with the
provisions of this Section 7(e) shall be binding on all Buyers and holders of Notes, as applicable.
No such amendment shall be effective to the extent that it applies to less than all of the holders
of the applicable Notes then outstanding. No consideration shall be offered or paid to any Person
to amend or consent to a waiver or modification of any provision of any of the Transaction
Documents unless the same consideration also is offered to all holders of Notes. The Company has
not, directly or indirectly, made any agreements with any Buyers relating to the terms or
conditions of the transactions contemplated by the Transaction Documents except as set forth in the
Transaction Documents.

(f) Notices. Any notices, consents, waivers or other communications required or
permitted to be given under the terms of this Agreement must be in writing and will be deemed to
have been delivered: (i) upon receipt, when delivered personally; (ii) upon receipt, when sent by
facsimile (provided confirmation of transmission is mechanically or electronically generated and
kept on file by the sending party); or (iii) one Business Day after deposit with an overnight
courier service, in each case properly addressed to the party to receive the same. The addresses
and facsimile numbers for such communications shall be:

	 	 	 	 	 
	If to the Company:
	 	 	 	 
	Verticalnet, Inc.
	 	 	 	 
	400 Chester Field Parkway

	Malvern, PA 19355
Telephone:
	 	 	(610) 640-8030	 
	Facsimile:
	 	 	(610) 240-9470	 
	Attention:
	 	Legal

Copy to:

	 	 	 	 	 
	Morgan, Lewis & Bockius LLP

	1701 Market Street
Philadelphia, PA 19103
Telephone:
	 	 	(215) 963-5134	 
	Facsimile:
	 	 	(215) 963-5001	 
	Attention:
	 	James W. McKenzie, Jr.

If to a Buyer, to its address and facsimile number set forth on the Schedule of Buyers, with
copies to such Buyer’s representatives as set forth on the Schedule of Buyers, or to such other
address and/or facsimile number and/or to the attention of such other Person as the recipient party
has specified by written notice given to each other party five days prior to the effectiveness of
such change. Written confirmation of receipt (A) given by the recipient of such notice, consent,
waiver or other communication, (B) mechanically or electronically generated by the sender’s
facsimile machine containing the time, date, recipient facsimile number and an image of the first
page of such transmission (C) provided by an overnight courier service shall be rebuttable evidence
of personal service, receipt by facsimile or receipt from an overnight courier service in
accordance with clause (i), (ii) or (iii) above, respectively.

(g) Successors and Assigns. This Agreement shall be binding upon and inure to the
benefit of the parties and their respective successors and assigns, including any purchasers of the
Notes. The Company shall not assign this Agreement or any rights or obligations hereunder without
the prior written consent of the Buyers, including by way of a Fundamental Transaction (as defined
in the Notes) (unless the Company is in compliance with the applicable provisions governing
Fundamental Transactions set forth in the Notes). A Buyer may assign some or all of its rights
hereunder without the consent of the Company, in which event such assignee shall be deemed to be a
Buyer hereunder with respect to such assigned rights.

(h) No Third Party Beneficiaries. This Agreement is intended for the benefit of the
parties hereto and their respective permitted successors and assigns, and is not for the benefit
of, nor may any provision hereof be enforced by, any other Person, except to the extent set forth
in Section 7(k) below.

(i) Survival. The representations and warranties of the Company and the Buyers
contained in Sections 2 and 3 and the agreements and covenants set forth in Sections 4 and 7 shall
survive the Closing.

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

(k) No Strict Construction. The language used in this Agreement will be deemed to be
the language chosen by the parties to express their mutual intent, and no rules of strict
construction will be applied against any party.

(l) Remedies. Each Buyer and each holder of the Notes shall have all rights and
remedies set forth in the Transaction Documents and all rights and remedies which such holders have
been granted at any time under any other agreement or contract and all of the rights which such
holders have under any law. Any Person having any rights under any provision of this Agreement
shall be entitled to enforce such rights specifically (without posting a bond or other security),
to recover damages by reason of any breach of any provision of this Agreement and to exercise all
other rights granted by law. Furthermore, the Company recognizes that in the event that it fails
to perform, observe, or discharge any or all of its obligations under the Transaction Documents,
any remedy at law may prove to be inadequate relief to the Buyers. The Company therefore agrees
that the Buyers shall be entitled to seek temporary and permanent injunctive relief in any such
case without the necessity of proving actual damages and without posting a bond or other security.

(m) Payment Set Aside. To the extent that the Company makes a payment or payments to
the Buyers hereunder or pursuant to any of the other Transaction Documents or the Buyers enforce or
exercise their rights hereunder or thereunder, and such payment or payments or the proceeds of such
enforcement or exercise or any part thereof are subsequently invalidated, declared to be fraudulent
or preferential, set aside, recovered from, disgorged by or are required to be refunded, repaid or
otherwise restored to the Company, a trustee, receiver or any other Person under any law
(including, without limitation, any bankruptcy law, foreign, state or federal law, common law or
equitable cause of action), then to the extent of any such restoration the obligation or part
thereof originally intended to be satisfied shall be revived and continued in full force and effect
as if such payment had not been made or such enforcement or setoff had not occurred.

[Signature Page Follows]

1

IN WITNESS WHEREOF, each Buyer and the Company have caused their respective signature page to
this Note Purchase Agreement to be duly executed as of the date first written above.

	 
	 

	COMPANY:

	 

	VERTICALNET, INC.

By: /s/ Christopher G. Kuhn

	 

	Name: Christopher G. Kuhn

Title: Vice President and General Counsel

	 

2

[Buyer’s Counterpart Signature Page to Note Purchase Agreement]

	 
	 

	BUYER:

	 

	     

Name:

	Address:

	     

     

Fax:      

Attn:      

3

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