Document:

Fourth Amendment to the Preferred Stock Rights Agreement

 Exhibit 4.5 
 FOURTH AMENDMENT 
 to the 
 PREFERRED STOCK RIGHTS AGREEMENT 
 between 
 AVANEX CORPORATION 
 and

 COMPUTERSHARE TRUST COMPANY, N.A. 
 formerly known as 
 EQUISERVE TRUST COMPANY, N.A. 
 This Fourth Amendment (the “Fourth Amendment”) to the Preferred Stock Rights Agreement is made and entered into as of March 6, 2006
between AVANEX CORPORATION, a Delaware corporation (the “Company”), and COMPUTERSHARE TRUST COMPANY, N.A., formerly known as EQUISERVE TRUST COMPANY, N.A., a national banking association, as Rights Agent (the “Rights Agent”).

 R E C I T A L S 
 WHEREAS, the
Company and the Rights Agent entered into the Preferred Stock Rights Agreement dated as of July 26, 2001, as amended as of March 18, 2002, May 12, 2003 and May 16, 2005 (the “Rights Agreement”); 
 WHEREAS, Section 27 of the Rights Agreement provides that, prior to the Distribution Date (as defined in the Rights Agreement), the Company may
supplement or amend the Rights Agreement in any respect without the approval of any holders of Rights; 
 WHEREAS, the Company and certain
Investors of the Company (as defined below) intend to enter into a Securities Purchase Agreement (the “Purchase Agreement”) pursuant to which the Company will issue to the Investors Common Stock of the Company and warrants to purchase
Common Stock of the Company (the issuance of such Common Stock, and the issuance of Common Stock of the Company upon exercise of such warrants, are referred to hereafter as the “Securities Issuances”); 
 WHEREAS, on March 6, 2006, the Board of Directors of the Company resolved to amend the Rights Agreement, among other things, to render the Rights
inapplicable to the Securities Issuances and the other transactions contemplated by the Purchase Agreement; and 

 WHEREAS, the Company intends to modify the terms of the Rights Agreement in certain respects as set forth
herein, and in connection therewith, is entering into this Fourth Amendment and directing the Rights Agent to enter into this Fourth Amendment. 
 NOW, THEREFORE, for good and valuable consideration, the receipt and adequacy of which are hereby acknowledged, the parties hereto agree as follows: 
 1. Capitalized Terms. All capitalized, undefined terms used in this Fourth Amendment shall have the meanings assigned thereto in the Rights Agreement. 
 2. Amendment. Section 1(a) of the Rights Agreement is hereby amended by adding the following new paragraph to the end of Section 1(a):

 “Notwithstanding anything in this Agreement that might otherwise be deemed to the contrary, none of the investors of
the Company listed on Exhibit D attached hereto (the “Investors”), nor any of their Affiliates or Associates, shall be deemed to be an Acquiring Person solely by reason of (i) the approval, execution or delivery of, or the
consummation of the transactions contemplated by, (A) the Securities Purchase Agreement dated on or about March 6, 2006, by and among the Company and the Investors, including any amendment or supplement thereto (the “Purchase
Agreement”), or (B) the Transaction Documents (as defined in the Purchase Agreement); or (ii) the announcement or consummation of the Purchase Agreement or the Transaction Documents or the announcement or issuance of the Securities
(as defined in the Purchase Agreement).” 
 3. Effective Date. This Fourth Amendment shall become effective as of the date first
above written but such effectiveness is contingent upon (a) the execution of this Fourth Amendment by the Company and authorization by the Board of Directors of the Company approving the Fourth Amendment, and (b) the execution and delivery
of this Fourth Amendment by the Rights Agent. 
 4. Effect of Amendment. Except as expressly provided herein, the Rights Agreement
shall be and remain in full force and effect. 
 5. Governing Law. This Fourth Amendment shall be governed by, construed and enforced
in accordance with the laws of the State of Delaware without reference to the conflicts or choice of law principles thereof. 
 6.
Counterparts. This Fourth Amendment may be executed in separate counterparts, each of which when executed and delivered is an original but all of which taken together constitute one and the same instrument. 
 7. Fax Transmission. A facsimile, telecopy or other reproduction of this Fourth Amendment may be executed by one or more parties hereto, and an
executed copy of this Fourth Amendment may be delivered by one or more parties hereto by facsimile or similar instantaneous electronic transmission device pursuant to which the signature of or on behalf of 

  

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such party can be seen, and such execution and delivery shall be considered valid, binding and effective for all purposes. At the request of any party
hereto, all parties hereto agree to execute an original of the Fourth Amendment as well as any facsimile, telecopy or other reproduction thereof. 
 8. Certification. The undersigned officer of the Company, being an appropriate officer of the Company and authorized to do so by resolution of the Board of Directors of the Company duly adopted and approved at a meeting held
March 6, 2006, hereby certifies to the Rights Agent that this amendment is in compliance with Section 27 of the Rights Agreement. 
  

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 IN WITNESS WHEREOF, the Company and the Rights Agent have caused this Fourth Amendment to be duly
executed as of the day first above written. 
  

			
	AVANEX CORPORATION
		
	By:	 	 /s/ Jo Major

	Name:	 	Jo Major
	Title:	 	President and Chief Executive Officer
	
	COMPUTERSHARE TRUST COMPANY, N.A.
	
	formerly known as
	
	 EQUISERVE TRUST COMPANY, N.A.,
 as Rights
Agent

		
	By:	 	 /s/ Katherine Anderson

	Name:	 	Katherine Anderson
	Title:	 	Managing Director

 EXHIBIT D 
 Investors 
  

	
	Fort Mason Master, LP
	
	Fort Mason Partners, LP
	
	Capital Ventures International
	
	HBK Master Fund L.P.
	
	Kings Road Investments Ltd.
	
	Portside Growth and Opportunity Fund, Ltd.
	
	SF Capital Partners Ltd.
	
	GLG North American Opportunity Fund
	
	GLG Technology Fund
	
	GLG European Opportunity Fund
	
	 GLG Investments plc. - Sub-fund:
  
     GLG Capital Appreciation Fund

	
	 GLG Investments plc. - Sub-fund:
  
     GLG North American Equity Fund

	
	 GLG Investments plc. - Sub-fund:
  
     GLG Balanced Fund

	
	 GLG Investments IV plc. - Sub-fund:
  
     GLG Capital Appreciation (Distributing) FundFourth Amendment to Amended and Restated Service Agreement

 Exhibit 10(rr) 
 FOURTH AMENDMENT TO AMENDED AND RESTATED SERVICE AGREEMENT 
 This amendment is
entered into with an effective date of January 1, 2005, between Wisconsin Dental Group, S.C., a Wisconsin service corporation (“Provider”), and Northpark Dental Group, LLC, a Delaware limited liability company (“Service
Company”). 
 Background Information 
 Provider and Service Company (the “Parties”) are the parties to an Amended and Restated Service Agreement dated January 1, 1999, as amended from time to time prior to the date
hereof (collectively, as so amended, the “Service Agreement”), pursuant to which Service Company provides practice management services to the dental practice owned and operated by Provider. The Parties desire to modify certain provisions
of the Service Agreement and are executing this amendment for this purpose. 
 Statement of Agreement 
 The Parties acknowledge the foregoing Background Information and hereby agree as follows: 
 1. Definitions. All capitalized terms used in this amendment which are not otherwise defined herein shall have the respective
meanings given to those terms in the Service Agreement. The respective definitions of the terms “Actual Margin,” “Budgeted Margin,” and “Performance Fee” are hereby deleted from the Service Agreement (whether appearing
in Exhibit A to the Service Agreement or elsewhere). 
 2. Priority of Payments. Section 4.12(b) of the Service
Agreement is hereby deleted in its entirety and replaced with the following: 
 (b) Priority of
Payments. Payments described in this Agreement to be made from funds in the Provider Account shall be applied (to the extent available) in the following order of priority: 
  

	 	 (i)
	 Reimbursement of Clinic Expenses to Service Company pursuant to Section 7.1; 

  

	 	 (ii)
	 Repayment of advances made by Service Company to Provider pursuant to Section 7.2; 

  

	 	 (iii)
	 Payment of the Service Fee to Service Company pursuant to Section 7.3; 

  

	 	 (iv)
	 Payment of Approved Provider Expenses; and 

  

	 	 (v)
	 Distribution of the Provider Retained Earnings (as defined in Section 7.8, below), or portions thereof, subject to Section 7.8, below.

  

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 3. Annual Budget. Section 4.13(a) of the Service Agreement is hereby deleted
in its entirety and replaced with the following: 
 (a) Annual Budget. At least 30 days prior to the
commencement of each calendar year, Service Company, in consultation with Provider, shall prepare and deliver to the Policy Board for its approval a proposed Budget, setting forth an estimate of Provider’s revenue and expenses for the upcoming
calendar year (including without limitation the Service Fee associated with the services provided by Service Company hereunder). 
 In the event that a proposed Budget is not approved by either the Policy Board or Parent (pursuant to Section 3.2(b)), Service Company, in consultation with Provider, shall promptly revise such Budget, taking
into consideration the comments of the Policy Board or Parent, as applicable, and shall deliver such revised Budget to the Policy Board for approval. In the event that a proposed Budget has not been approved by both the Policy Board and Parent by
the beginning of the calendar year, the Budget for the prior year shall be deemed to be adopted as the Budget for the current year until a new Budget has been approved by both the Policy Board and Parent. 
 Notwithstanding any provisions of this Agreement to the contrary, for purposes of all calculations related to the Service
Fee for any period the amount of Provider Expense used in such calculations for that period shall be determined by applying the methodology for compensating dentists and paying other budgeted Provider Expenses contained in the then-applicable Budget
(e.g., if the Budget requires a dentist to be paid a base salary, that salary shall be used for purposes of such calculations, and if the Budget requires that a dentist be paid formula-based compensation, that formula shall be used for purposes of
such calculations); provided that the Parties shall exercise reasonable efforts to adjust the Budget from time to time as necessary to reflect changes in Provider’s staff of dentists and/or compensation and/or other budgeted Provider Expenses
(it being understood that neither Party shall be obligated to agree to Budget adjustments deemed by such Party to be unreasonable under the then-relevant circumstances). 
 4. License of Names and Marks and Use of Names. Sections 4.17 and 5.8 of the Service Agreement are hereby amended by adding the name “Forward Dental” to the lists of names
included in such Sections, respectively. 
 5. Service Fee. Section 7.3 of the Service Agreement is hereby
deleted in its entirety and replaced with the following: 
 7.3 Service Fee. Provider and Service
Company acknowledge and agree that the compensation set forth in this Article is being paid by Provider to 

  

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Service Company in consideration of the substantial commitment being made by Service Company hereunder and that such fee is fair and reasonable in all
respects in consideration of (a) the services performed by Service Company hereunder, and (b) the capital being made available by Service Company. Service Company shall be paid by Provider an annual Service Fee (determined on a calendar
year basis) equal to 92% of the Calculated Margin, which shall be calculated and payable monthly. 
 6. Performance Fee
and Exhibit A-1. Section 7.4 of the Service Agreement is hereby deleted in its entirety, without replacement, and shall be of no force or effect with respect to periods from and after the Effective Date; provided, however,
that such section number shall be reserved in the Service Agreement solely for purposes of preserving the accuracy of other section numbers and cross-references thereto appearing elsewhere in the Service Agreement. Existing Exhibit A-1 to the
Service Agreement is hereby deleted in its entirety, without replacement, and shall be of no force or effect with respect to periods from and after the effective date of this amendment. In addition, the term “Performance Fee” wherever it
appears in the Service Agreement is hereby deleted and shall be of no force or effect with respect to periods from and after the Effective Date. 
 7. Provider Retained Earnings. The following new Section 7.8 is hereby added to the Service Agreement: 
 7.8 Provider Retained Earnings. The Parties acknowledge and agree that an annual amount (determined on a calendar year basis) equal to 8% of the Calculated Margin shall be retained by
Provider (such amount, the “Provider Retained Earnings”) and shall be calculated monthly and payable in arrears based on Provider’s average days sales outstanding. 
 8. Delafield Office Provisions. The Parties acknowledge that a new “de novo” Clinic build-out has been completed by
Service Company at 3210 Golf Road, Delafield, Wisconsin 53018 and that a professional dental practice is being operated at such Clinic by Provider pursuant to the Service Agreement (such practice, the “Delafield Practice”). Accordingly,
notwithstanding any contrary or conflicting provisions of Section 5, above, the Parties agree as follows: 
 (a) Dental Services. Provider shall, beginning on the effective date of this amendment and continuing for the term of the Service Agreement, operate the Delafield Practice pursuant to the Service Agreement, including without
limitation providing Dental Care to meet the demand therefor with respect to the Delafield Practice. 
 (b)
Management Services. Service Company shall, beginning on the effective date of this amendment and continuing for the term of the Service Agreement, maintain and provide Services to the Delafield Practice pursuant to the Service Agreement.

 (c) Delafield Practice Fees. In general, it is the intention of the Parties that the Service
Agreement be applicable to the operations of the Delafield Practice, subject to the express provisions of this Section 8. Beginning on the effective date of this 

  

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amendment and continuing until otherwise agreed in writing by the Parties (the “Transition Period”), the Delafield Practice shall be treated as a
separate division of Provider for financial and accounting purposes. Accordingly, during the Transition Period, (i) Service Company shall maintain books and records for the Delafield Practice, separate from the rest of the professional dental
practice operated by Provider (the “Non-Delafield Practice”), in such a manner so that no revenues or expenses of the Delafield Practice are allocated to the Non-Delafield Practice or other operations conducted by Provider for purposes of
the application of the Service Agreement to the operations of the Parties, (ii) there shall be separate Budgets for the Delafield Practice and the Non-Delafield Practice, and (iii) the Service Fee shall be divided into two components, one
with respect to the Delafield Practice (the “Delafield Service Fee”) and one with respect to the Non-Delafield Practice (the “Non-Delafield Service Fee”). The Non-Delafield Service Fee shall be calculated as provided in
Section 7.3 of the Service Agreement (as amended pursuant to Section 5, above, and as may be hereafter amended from time to time). The Delafield Service Fee shall be equal to 100.0% of the Calculated Margin for the Delafield Practice and
shall be calculated and payable monthly. 
 9. Effective Date. This amendment shall be effective as of the date first
set forth above. 
 10. Construction. This is an amendment to and a part of the Service Agreement. In the event of any
inconsistency between the provisions of the Service Agreement and the provisions of this amendment, the provisions of this amendment shall control prospectively from the effective date of this amendment. Except as modified by this amendment, the
Service Agreement shall continue in full force and effect without change. 
  

									
	 WISCONSIN DENTAL GROUP, S.C.
	 		 	 NORTHPARK DENTAL GROUP, LLC

					
	 By:
	 	 /s/ ROBERT TRETTIN, DDS
	 		 	 By:
	 	 /s/ MICHAEL J. VAUGHAN

		 	 Robert Trettin, D.D.S., President
	 		 		 	 Michael J. Vaughan, Vice President

			
	 Date of Execution: 5/6/05
	 		 	 Date of Execution: 5/10/05

  

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