Document:

Exhibit 10.13

 

EMPLOYMENT AGREEMENT

 

THIS
EMPLOYMENT AGREEMENT (this “Agreement”) is made
as of  April 13, 2006, by and among
Solera, Inc., a Delawarecorporation (“Employer”),
Solera Holdings, LLC, a Delaware limited liability company and the sole stockholder
of Employer (“Solera Holdings”), and Jack Pearlstein (“Executive”).
Certain definitions are set forth in Section 4 of this Agreement.

 

Employer and
Executive desire to enter into an agreement pursuant to which Employer will
employ Executive. In addition, as of the date hereof, Executive and Solera
Holdings will enter into a Securities Purchase Agreement (the “Securities
Purchase Agreement”) pursuant to which Executive may purchase units in
Solera Holdings subject to the terms and conditions set forth therein.

 

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.             Employment.         Employer agrees to employ
Executive and Executive accepts such employment for the period beginning as of
the date hereof and ending upon his Separation pursuant to Section 1(c)
hereof (the “Employment Period”).

 

(a)           Position and Duties.

 

(i)            During
the Employment Period, Executive shall serve as the Chief Financial Officer of
Employer and shall have the normal duties, responsibilities and authority
implied by such position, subject to the power of the Board and Employer’s
Chief Executive Officer to expand or limit such duties, responsibilities and
authority and to override actions of the Chief Financial Officer.

 

(ii)           Executive
shall report to Employer’s Chief Executive Officer, and Executive shall devote
his reasonable efforts and his full business time and attention to the business
and affairs of Solera Holdings, Employer and their Subsidiaries; provided that,
subject to the succeeding proviso, Executive shall not be restricted from
serving on the boards of directors of other companies (other than any companies
that are in any business that is competitive with any business of Solera
Holdings or its Subsidiaries) or purely philanthropic organizations or
participating in philanthropic activities associated with such organizations,
but, in each case, only to the extent that such service or participation does
not interfere with Executive’s employment or duties hereunder; provided,
further, that Executive shall not serve on any board of directors or similar
governing body without the approval of the Board, which approval shall not be
unreasonably withheld.

 

(b)           Salary, Bonus and
Benefits. During the Employment Period, Employer will pay Executive a base
salary of $300,000 per annum (the “Annual Base Salary”). During the
Employment Period, beginning with the fiscal year ending June 30, 2007 and for
each fiscal year thereafter, Executive shall be eligible for an annual bonus (“Annual
Bonus”) in an amount up to 75% of the Annual Base Salary then in effect
based upon the achievement by Solera Holdings,

 

1

 

Employer and their Subsidiaries of financial
and other objectives set by Employer’s Chief Executive Officer, subject to
prior approval by the Board. An Annual Bonus, if any, will be paid to Executive
by Employer 120 days after the end of the fiscal year to which such Annual
Bonus relates.

 

(c)           Separation. The
Employment Period will continue until (i) Executive’s resignation, Disability
or death, or (ii) the Board decides to terminate Executive’s employment with or
without Cause. If Executive’s employment is terminated by Employer without
Cause or by Executive with Good Reason after the first anniversary of the date
hereof, then during the 18-month period commencing on the date of termination
subject to extension pursuant to the following sentence (the “Severance
Period”), Employer shall pay to Executive an aggregate amount equal to 150%
of his Annual Base Salary plus 75% of any Annual Bonus paid in respect of the
fiscal year preceding the date of termination, payable in equal installments on
the Employer’s regular salary payment dates (the “Wage Severance”), and
Executive shall continue to participate in employee benefit programs for senior
executive employees (other than bonus and incentive compensation plans) to the
extent permitted under the terms of such programs and under applicable law
(collectively, the “Severance Payments”). In addition, Employer shall
have the option, by delivering written notice to the Executive within 12 months
after the Separation to extend the Severance Period for an additional six month
or 12 month period during which time Solera Holdings shall continue to make
Severance Payments to Executive at the same annual rate (pro rated as
applicable). Notwithstanding the foregoing, (A) Executive shall not be entitled
to receive any payments pursuant to this Section 1(c) unless Executive
has executed and delivered to Employer a general release in form and substance
reasonably satisfactory to Employer and which shall in no event contain
restrictions on Executive’s future employment broader than those contained in
this Agreement and (B) Executive shall be entitled to receive such payments
only so long as Executive has not breached the provisions of Sections 2
or 3 hereof. Other than the payments, if any, payable to Executive
following a Separation pursuant to this Section 1(c), Executive shall not
be entitled to receive any compensation from Employer or Solera Holdings
following a Separation.

 

2.             Confidential
Information.

 

(a)           Obligation to
Maintain Confidentiality. Executive acknowledges that the information,
observations and data (including trade secrets) of a confidential, proprietary
or secret nature obtained by him during the course of his performance under
this Agreement concerning the business or affairs of Solera Holdings, Employer
and their respective Subsidiaries and Affiliates (“Confidential Information”)
are the property of Solera Holdings, Employer or such Subsidiaries and
Affiliates, including information concerning acquisition opportunities in or reasonably
related to Solera Holdings’ and Employer’s business or industry of which
Executive becomes aware during the Employment Period. Therefore, Executive
agrees that he will not disclose to any unauthorized Person or use for his own
account any Confidential Information without the Board’s written consent,
unless and to the extent that the Confidential Information (i) becomes
generally known to and available for use by the public other than as a result
of Executive’s acts or omissions to act, (ii) was known to Executive prior to
Executive’s employment with Employer, Solera Holdings or any of their
Subsidiaries and Affiliates (excluding information relating to Solera Holdings
or its Subsidiaries or to any acquisitions contemplated by Solera Holdings or
its Affiliates as of the date hereof), or (iii) is required to be

 

2

 

disclosed pursuant to any applicable law or
court order. Executive shall deliver to Solera Holdings at a Separation, or at
any other time Solera Holdings may request, all memoranda, notes, plans,
records, reports, computer tapes, printouts and software and other documents
and data (and copies thereof) relating to the Confidential Information, Work
Product (as defined below) or the business of Solera Holdings, Employer and
their respective Subsidiaries and Affiliates (including, without limitation,
all acquisition prospects, lists and contact information) which he may then
possess or have under his control.

 

(b)           Ownership of
Property. Executive acknowledges that all discoveries, concepts, ideas,
inventions, innovations, improvements, developments, methods, processes,
programs, designs, analyses, drawings, reports, patent applications,
copyrightable work and mask work (whether or not including any confidential
information) and all registrations or applications related thereto, all other
proprietary information and all similar or related information (whether or not
patentable) that relate to Solera Holdings’, Employer’s or any of their
respective Subsidiaries’ or Affiliates’ actual or anticipated business,
research and development, or existing or future products or services and that
are conceived, developed, contributed to, made, or reduced to practice by
Executive (either solely or jointly with others) while employed by Solera
Holdings, Employer or any of their respective Subsidiaries or Affiliates
(including any of the foregoing that constitutes any proprietary information or
records) (“Work Product”) belong to Solera Holdings, Employer or such
Subsidiary or Affiliate and Executive hereby assigns, and agrees to assign, all
of the above Work Product to Solera Holdings, Employer or to such Subsidiary or
Affiliate. Any copyrightable work prepared in whole or in part by Executive in
the course of his work for any of the foregoing entities shall be deemed a “work
made for hire” under the copyright laws, and Solera Holdings, Employer or such
Subsidiary or Affiliate shall own all rights therein. To the extent that any
such copyrightable work is not a “work made for hire,” Executive hereby assigns
and agrees to assign to Solera Holdings, Employer or such Subsidiary or
Affiliate all right, title, and interest, including without limitation,
copyright in and to such copyrightable work. Executive shall promptly disclose
such Work Product and copyrightable work to the Board and perform all actions
reasonably requested by the Board (whether during or after the Employment
Period) to establish and confirm Solera Holdings’, Employer’s or such
Subsidiary’s or Affiliate’s ownership (including, without limitation,
assignments, consents, powers of attorney, and other instruments). Executive
understands, however, that there is no obligation being imposed on him to
assign to Solera Holdings or any Subsidiary or Affiliate, any invention falling
within the definition of Work Product for which no equipment, supplies,
facility, or trade secret information of Solera Holdings or any of its
Subsidiaries or Affiliates was used and that was developed entirely on his own
time, unless:  (i) such Work Product
relates (A) to Solera Holdings’, or its Subsidiaries’ or Affiliates’ businesses
or (B) to their actual or demonstrably anticipated research or  development, or (ii) the Work Product results
from any work performed by him for them under this Agreement. Executive has
identified on the signature page to this Agreement all Work Product that is or
was owned by him or was written, discovered, made, conceived or first reduced
to practice by him alone or jointly with another person prior to his employment
under this Agreement. If no such Work Product is listed, Executive represents
to Solera Holdings that he does not now nor has he ever owned, nor has he made,
any such Work Product.

 

(c)           Third Party
Information. Executive understands that Solera Holdings, Employer and their
respective Subsidiaries and Affiliates will receive from third parties

 

3

 

confidential or proprietary information (“Third
Party Information”) subject to a duty on Solera Holdings’, Employer’s and
their respective Subsidiaries and Affiliates’ part to maintain the
confidentiality of such information and to use it only for certain limited
purposes. During the Employment Period and thereafter, and without in any way
limiting the provisions of Section 2(a) above, Executive will hold Third
Party Information in the strictest confidence and will not disclose to anyone
(other than personnel and consultants of Solera Holdings, Employer or their
respective Subsidiaries and Affiliates who need to know such information in
connection with their work for Solera Holdings, Employer or their respective
Subsidiaries and Affiliates) or use, except in connection with his work for
Solera Holdings, Employer or their respective Subsidiaries and Affiliates,
Third Party Information unless expressly authorized by a member of the Board in
writing.

 

(d)           Use of Information
of Prior Employers. During the Employment Period, Executive will not
improperly use or disclose any confidential information or trade secrets, if
any, of any former employers or any other Person to whom Executive has an
obligation of confidentiality, and will not bring onto the premises of Solera
Holdings, Employer or any of their respective Subsidiaries or Affiliates any
unpublished documents or any property belonging to any former employer or any
other Person to whom Executive has an obligation of confidentiality unless
consented to in writing by the former employer or Person. Executive will use in
the performance of his duties only information which is (i) generally known and
used by persons with training and experience comparable to Executive’s and
which is (x) common knowledge in the industry or (y) is otherwise legally in
the public domain, (ii) is otherwise provided or developed by Solera Holdings,
Employer or any of their respective Subsidiaries or Affiliates or (iii) in the
case of materials, property or information belonging to any former employer or
other Person to whom Executive has an obligation of confidentiality, approved
for such use in writing by such former employer or Person.

 

3.             Restrictive
Covenants. Executive acknowledges that in the course of his employment with
Employer he will become familiar with Solera Holdings’, Employer’s and their
respective Subsidiaries’ trade secrets and with other confidential information
concerning Solera Holdings, Employer and such Subsidiaries and that his
services will be of special, unique and extraordinary value to Solera Holdings,
Employer and such Subsidiaries. Therefore, Executive agrees that:

 

(a)           Nonsolicitation.
During the Employment Period and (x) if the Employment Period is terminated by
Solera Holdings or Employer without Cause or by Executive with Good Reason, for
one year thereafter (or if Executive is entitled to Severance Payments pursuant
to Section 1(c) and the Severance Period extends beyond one year
after the termination of the Employment Period, for the length of the Severance
Period), or (y) for a period of two years thereafter if the Employment Period
is terminated by Executive, Solera Holdings or Employer for any other reason,
Executive shall not directly or indirectly through another entity
(i) induce or attempt to induce any employee of Solera Holdings, Employer
or their respective Subsidiaries to leave the employ of Solera Holdings,
Employer or such Subsidiary, or in any way interfere with the relationship
between Solera Holdings, Employer and any of their respective Subsidiaries and
any employee thereof (which restriction shall not preclude placing
advertisements in trade publications or similar general solicitations for
employment, so long as such advertisements or solicitations do not target any
employee of 

 

4

 

Solera Holdings, Employer or their respective
Subsidiaries), (ii) hire any person who was an employee of Solera
Holdings, Employer or any of their respective Subsidiaries within 180 days
after such person ceased to be an employee of Solera Holdings, Employer or any
of their respective Subsidiaries, (iii) induce or attempt to induce any
customer, supplier, licensee or other business relation of Solera Holdings,
Employer or any of their respective Subsidiaries to cease doing business with
Solera Holdings, Employer or such Subsidiary or in any way interfere with the
relationship between any such customer, supplier, licensee or business relation
and Solera Holdings, Employer and any Subsidiary, in each case, if any such
inducement, attempted inducement or interference would involve, use or rely
upon any of Solera Holdings’, Employer’s or any of their respective
Subsidiaries’ trade secrets or other confidential information or
(iv) directly or indirectly acquire or attempt to acquire an interest in
any business relating to the business of Solera Holdings, Employer or any of
their respective Subsidiaries and with which Solera Holdings, Employer and any
of their respective Subsidiaries has engaged in discussions regarding the
acquisition of an interest in such business or has requested and received
information relating to the acquisition of such business by Solera Holdings,
Employer or any of their respective Subsidiaries in the two year period
immediately preceding a Separation.

 

(b)           Enforcement. If,
at the time of enforcement of Section 2 or this Section 3, a
court holds that the restrictions stated herein are unreasonable under
circumstances then existing, the parties hereto agree that the maximum
duration, scope or geographical area reasonable under such circumstances shall
be substituted for the stated period, scope or area and that the court shall be
allowed to revise the restrictions contained herein to cover the maximum
duration, scope and area permitted by law which shall in no circumstances be
broader in duration, scope or area than those restrictions provided for herein.
Because Executive’s services are unique and because Executive has access to
confidential information, the parties hereto agree that money damages would be
an inadequate remedy for any breach of this Agreement. Therefore, in the event
a breach or threatened breach of this Agreement, Solera Holdings, Employer,
their respective Subsidiaries or their successors or assigns may, in addition
to other rights and remedies existing in their favor, apply to any court of
competent jurisdiction for specific performance and/or injunctive or other
relief in order to enforce, or prevent any violations of, the provisions hereof
(without posting a bond or other security).

 

(c)           Additional
Acknowledgments. Executive acknowledges that the provisions of this Section
3 are in consideration of: 
(i) employment with the Employer, (ii) the contemplated
issuance of the Executive Securities by Solera Holdings and
(iii) additional good and valuable consideration as set forth in this Agreement.
In addition, Executive agrees and acknowledges that the restrictions contained
in Section 2 and this Section 3 do not preclude Executive
from earning a livelihood, nor do they unreasonably impose limitations on
Executive’s ability to earn a living. In addition, Executive acknowledges (i)
that the business of Solera Holdings, Employer and their respective
Subsidiaries will be conducted throughout the United States and other
jurisdictions where Solera Holdings, Employer or their respective Subsidiaries
conduct business during the Employment Period, (ii) notwithstanding the state
of organization or principal office of Solera Holdings, Employer or any of
their respective Subsidiaries, or any of their respective executives or
employees (including the Executive), it is expected that Solera Holdings and
Employer will have business activities and have valuable business relationships
within its industry throughout the United States and other jurisdictions where
Solera Holdings, Employer or their respective Subsidiaries conduct business
during the Employment Period, and

 

5

 

(iii) as part of his responsibilities,
Executive will be traveling throughout the United States and other
jurisdictions where Solera Holdings, Employer or their respective Subsidiaries
conduct business during the Employment Period in furtherance of Employer’s
business and its relationships. Executive agrees and acknowledges that the
potential harm to Solera Holdings and Employer of the non-enforcement of Section 2
and this Section 3 outweighs any potential harm to Executive of its
enforcement by injunction or otherwise. Executive acknowledges that he has
carefully read this Agreement and has given careful consideration to the
restraints imposed upon Executive by this Agreement, and is in full accord as
to their necessity for the reasonable and proper protection of confidential and
proprietary information of Solera Holdings and Employer now existing or to be
developed in the future. Executive expressly acknowledges and agrees that each
and every restraint imposed by this Agreement is reasonable with respect to
subject matter, time period and geographical area.

 

4.             Definitions.

 

“Affiliate”
means, with respect to any Person, any Person that controls, is controlled by
or is under common control with such Person or an Affiliate of such Person.

 

“Board”
means Solera Holdings’ board of managers.

 

“Cause”
means (i) the conviction or plea of no contest for or indictment on a
felony or a crime involving moral turpitude or the commission of any other act
or omission involving dishonesty or fraud, which involves a material matter,
with respect to Solera Holdings, Employer or any of their respective
Subsidiaries or any of their customers or suppliers, (ii) substantial and
repeated failure to perform duties of the office held by Executive as
reasonably directed by the Board, (iii) gross negligence or willful misconduct
with respect to Solera Holdings, Employer or any of their respective
Subsidiaries that is or could reasonably be expected to be harmful to Solera Holdings,
Employer or any of their respective Subsidiaries in any material respect, (iv)
conduct tending to bring Solera Holdings, Employer or any of their respective
Subsidiaries into substantial public disgrace or disrepute, and (v) any
breach by Executive of Sections 2 or 3 of this Agreement. In
the case of a termination for Cause pursuant to clause (ii) above, Employer
agrees that Executive shall have the opportunity to address the Board before
such termination for Cause becomes effective.

 

“Disability”
means the disability of Executive caused by any physical or mental injury,
illness or incapacity as a result of which Executive is or will be unable to
effectively perform the essential functions of Executive’s duties for a
continuous period of more than 60 days or for 90 days (whether or not
continuous) within a 180 day period, as determined by the Board in good faith.

 

“Good
Reason” means (i) a reduction in Executive’s Annual Base Salary or (ii) a
material diminution in Executive’s titles or duties inconsistent with his
position, in each case without the prior written consent of Executive; provided
that written notice of Executive’s resignation must be delivered to Solera
Holdings within 30 days after his actual knowledge of any such event in order
for such resignation to be with Good Reason for any purpose hereunder.

 

6

 

“Majority
Holders” has the meaning set forth in the Securities Purchase Agreement.

 

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

 

“Separation”
means Executive ceasing to be employed by Solera Holdings, Employer or any of
their respective Subsidiaries for any reason.

 

“Subsidiary”
means, with respect to any Person, any corporation, limited liability company,
partnership, association, or business entity of which (i) if a
corporation, a majority of the total voting power of shares of stock 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 that Person or one or more of the other Subsidiaries
of that Person or a combination thereof, or (ii) if a limited liability
company, partnership, association, or other business entity (other than a corporation),
a majority of  partnership or other
similar ownership interest thereof is at the time owned or controlled, directly
or indirectly, by that Person or one or more Subsidiaries of that Person or a
combination thereof. For purposes hereof, a Person or Persons shall be deemed
to have a majority ownership interest in a limited liability company,
partnership, association, or other business entity (other than a corporation)
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 or general partner of such limited
liability company, partnership, association, or other business entity. For
purposes hereof, references to a “Subsidiary” of any Person shall be
given effect only at such times that such Person has one or more Subsidiaries,
and, unless otherwise indicated, the term “Subsidiary” refers to a
Subsidiary of Solera Holdings.

 

5.             Notices. All
notices, demands or other communications to be given or delivered under or by
reason of the provisions of this Agreement shall be in writing and shall be
deemed to have been given when (i) delivered personally to the recipient, (ii)
sent to the recipient by reputable express courier service (charges prepaid),
(iii) mailed to the recipient by certified or registered mail, return receipt
requested and postage prepaid, or (iv) telecopied to the recipient (with hard
copy sent to the recipient by reputable overnight courier service (charges prepaid)
that same day) if telecopied before 5:00 p.m. Chicago, Illinois time on a
business day, and otherwise on the next business day. Such notices, demands and
other communications shall be sent to the parties at the addresses indicated
below:

 

	
   

  	
  If to Employer:

  
	
   

  
	
   

  	
  Solera, Inc.

  
	
   

  	
  12230 El
  Camino Real, Suite 200

  
	
   

  	
  San Diego, CA 92130

  
	
   

  	
  Attention:  Chief Executive Officer

  
	
   

  	
  Facsimile: (858) 812-3011

  
			

 

7

 

	
   

  	
  with copies to:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GTCR Fund VIII, L.P., GTCR Fund VIII/B,
  L.P., and

  	
   

  
	
   

  	
  GTCR Co-Invest II, L.P.

  	
   

  
	
   

  	
  c/o GTCR Golder Rauner II, L.L.C.

  	
   

  
	
   

  	
  6100 Sears Tower

  	
   

  
	
   

  	
  Chicago, Illinois 60606-6402

  	
   

  
	
   

  	
  Attention: Philip A. Canfield

  	
   

  
	
   

  	
   

  	
    Craig A. Bondy

  	
   

  
	
   

  	
  Facsimile: (312) 382-2201

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Kirkland & Ellis LLP

  	
   

  
	
   

  	
  200 East Randolph Drive

  	
   

  
	
   

  	
  Chicago, Illinois 60601

  	
   

  
	
   

  	
  Attention:

  	
  Stephen L. Ritchie, P.C.

  	
   

  
	
   

  	
   

  	
  Mark A. Fennell

  	
   

  
	
   

  	
  Facsimile:

  	
  (312) 861-2200

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  If to Solera Holdings:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Solera Holdings, LLC

  	
   

  
	
   

  	
  12230 El Camino Real, Suite 200

  	
   

  
	
   

  	
  San
  Diego, CA 92130

  	
   

  
	
   

  	
  Attention:  Chief Executive
  Officer

  	
   

  
	
   

  	
  Facsimile: (858) 812-3011

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  with copies to:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  GTCR Fund VIII, L.P., GTCR Fund VIII/B,
  L.P., and

  	
   

  
	
   

  	
  GTCR Co-Invest II, L.P.

  	
   

  
	
   

  	
  c/o GTCR Golder Rauner II, L.L.C.

  	
   

  
	
   

  	
  6100 Sears Tower

  	
   

  
	
   

  	
  Chicago, Illinois 60606-6402

  	
   

  
	
   

  	
  Attention:

  	
  Philip A. Canfield

  	
   

  
	
   

  	
   

  	
  Craig A. Bondy

  	
   

  
	
   

  	
  Facsimile:

  	
  (312) 382-2201

  	
   

  
						

 

8

 

	
   

  	
  Kirkland & Ellis LLP

  	
   

  
	
   

  	
  200 East Randolph Drive

  	
   

  
	
   

  	
  Chicago, Illinois 60601

  	
   

  
	
   

  	
  Attention:

  	
  Stephen L. Ritchie, P.C.

  	
   

  
	
   

  	
   

  	
  Mark A. Fennell

  	
   

  
	
   

  	
  Facsimile:

  	
  (312) 861-2200

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  If to Executive:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  Jack Pearlstein

  	
   

  
	
   

  	
  5122 Warren Place, NW

  	
   

  
	
   

  	
  Washington, DC 20016

  	
   

  
	
   

  	
  Facsimile: (925)-866-3491

  	
   

  
					

 

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

 

6.             General Provisions.

 

(a)           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 invalid, illegal or unenforceable in any respect under
any applicable law or rule in any jurisdiction, such invalidity, illegality or
unenforceability will not affect any other provision or any other jurisdiction,
but this Agreement will be reformed, construed and enforced in such
jurisdiction as if such invalid, illegal or unenforceable provision had never
been contained herein.

 

(b)           Complete Agreement.
This Agreement, those documents expressly referred to herein and other
documents of even date herewith embody the complete agreement and understanding
among the parties and supersede and preempt 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.

 

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

 

(d)           Counterparts. This
Agreement may be executed in separate counterparts (including by means of
facsimile), each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

 

(e)           Successors and
Assigns. This Agreement shall bind and inure to the benefit of and be
enforceable by Executive, Solera Holdings, Employer and their respective
successors and assigns; provided that Executive may not assign his
rights or delegate his duties or obligations hereunder without the prior
written consent of Solera Holdings.

 

 

9

 

(f)            Choice of Law. All
questions concerning the construction, validity and interpretation of this
Agreement and the exhibits hereto will be governed by and construed in
accordance with the internal 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.

 

(g)           MUTUAL WAIVER OF
JURY TRIAL. BECAUSE DISPUTES
ARISING IN CONNECTION WITH COMPLEX TRANSACTIONS ARE MOST QUICKLY AND
ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH
APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE
PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH
APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF THE
JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS AGREEMENT HEREBY WAIVES
ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO
RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE PARTIES HERETO, WHETHER ARISING
IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED OR
INCIDENTAL TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND/OR THE
RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER.

 

(h)           Executive’s
Cooperation. During the Employment Period and thereafter, Executive shall
cooperate with Solera Holdings, Employer and their respective Subsidiaries and
Affiliates in any disputeswith
third parties, internal investigation or administrative, regulatory or judicial
proceeding as reasonably requested by Solera Holdings (including, without
limitation, Executive being available to Solera Holdings upon reasonable notice
for interviews and factual investigations, appearing at Solera Holdings’
request to give testimony without requiring service of a subpoena or other
legal process, volunteering to Solera Holdings all pertinent information and
turning over to Solera Holdings all relevant documents which are or may come
into Executive’s possession, all at times and on schedules that are reasonably
consistent with Executive’s other permitted activities and commitments). In the
event Solera Holdings requires Executive’s cooperation in accordance with this
paragraph during the Employment Period or the Severance Period, Solera Holdings
shall reimburse Executive solely for reasonable travel expenses (including
lodging and meals, upon submission of receipts). In the event Solera Holdings
requires Executive’s cooperation in accordance with this paragraph after the
Severance Period, Solera Holdings shall reimburse Executive for reasonable
travel expenses (including lodging and meals, upon submission of receipts) and
compensate Executive at a reasonable rate for such cooperation, as determined
by mutual agreement of Solera Holdings and Executive.

 

(i)            Remedies. Each
of the parties to this Agreement will be entitled to enforce its rights under
this Agreement specifically, to recover damages and costs (including attorney’s
fees) caused by any breach of any provision of this Agreement and to exercise
all other rights existing in its favor. 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

 

10

 

posting any bond or deposit) for specific
performance and/or other injunctive relief in order to enforce or prevent any
violations of the provisions of this Agreement.

 

(j)            Amendment and Waiver.
The provisions of this Agreement may be amended and waived only with the prior
written consent of Solera Holdings, Employer, Executive and the Majority
Holders.

 

(k)           Insurance. Solera
Holdings, at its discretion, may apply for and procure in its own name and for
its own benefit life and/or disability insurance on Executive in any amount or
amounts considered available. Executive agrees to cooperate in any reasonable
medical or other examination, supply any information, and to execute and
deliver any applications or other instruments in writing as may be reasonably
necessary to obtain and constitute such insurance. Executive hereby represents
that he has no reason to believe that his life is not insurable at rates now
prevailing for healthy men of his age.

 

(l)            Business Days. If
any time period for giving notice or taking action hereunder expires on a day
which is a Saturday, Sunday or holiday in the state in which Solera Holdings’
chief executive office is located, the time period shall be automatically extended
to the business day immediately following such Saturday, Sunday or holiday.

 

(m)          Indemnification and
Reimbursement of Payments on Behalf of Executive. Solera Holdings and its
Subsidiaries shall be entitled to deduct or withhold from any amounts owing
from Solera Holdings or any of its Subsidiaries to Executive any federal,
state, local or foreign withholding taxes, excise taxes, or employment taxes (“Taxes”)
imposed with respect to Executive’s compensation or other payments from Solera
Holdings or its Subsidiaries or Executive’s ownership interest in Solera
Holdings, including, without limitation, wages, bonuses, dividends, the receipt
or exercise of equity options and/or the receipt or vesting of restricted
equity. In the event Solera Holdings or its Subsidiaries does not make such
deductions or withholdings, Executive shall indemnify Solera Holdings and its
Subsidiaries for any amounts paid with respect to any such Taxes, together with
any interest, penalties and related expenses thereto.

 

(n)           Reasonable Expenses.
Employer agrees to pay the reasonable fees and expenses of Executive’s counsel
arising in connection with the negotiation and execution of this Agreement and
the consummation of the transactions contemplated by this Agreement.

 

(o)           Termination. This
Agreement (except for the provisions of Sections 1(a) and (b)) shall
survive a Separation and shall remain in full force and effect after such
Separation.

 

(p)           Delivery by
Facsimile. This Agreement, the agreements referred to herein, and each other
agreement or instrument entered into in connection herewith or therewith or
contemplated hereby or thereby, and any amendments hereto or thereto, to the
extent signed and delivered by means of a facsimile machine, shall be treated
in all manner and respects as an original agreement or instrument and shall be
considered to have the same binding legal effect as if it were the original
signed version thereof delivered in person. At the request of any party hereto
or to any such agreement or instrument, each other party hereto or thereto
shall reexecute original forms thereof and deliver them to all other parties. No
party hereto or to any such

 

11

 

agreement or instrument shall raise the use
of a facsimile machine to deliver a signature or the fact that any signature or
agreement or instrument was transmitted or communicated through the use of a
facsimile machine as a defense to the formation or enforceability of a contract
and each such party forever waives any such defense.

 

*     *     *    
*     *

 

12

 

IN WITNESS
WHEREOF, the parties hereto have executed this Employment Agreement on the date
first above written.

 

 

	
   

  	
  SOLERA HOLDINGS, LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/
  Tony Aquila

  
	
   

  	
  Name:
  Tony Aquila

  
	
   

  	
  Its:   Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  SOLERA, INC.

  
	
   

  	
  By:

  	
  /s/
  Tony Aquila

  
	
   

  	
  Name:
  Tony Aquila

  
	
   

  	
  Its:   Chief Executive Officer

  
	
   

  	
   

  
	
   

  	
  /s/ Jack Pearlstein

  
	
   

  	
  JACK PEARLSTEIN

  

 

 

Signature Page to Employment Agreement of Jack Pearlstein

 

13Exhibit 10.14

 

SECURITIES
PURCHASE AGREEMENT

 

THIS SECURITIES PURCHASE AGREEMENT
(this “Agreement”) is made as of April 13, 2006, by and between Solera
Holdings, LLC, a Delaware limited liability company (the “Company”), and
Jack Pearlstein (“Purchaser”).

 

The Company and Purchaser desire that, pursuant to the
terms and conditions of this Agreement, Purchaser will purchase from the
Company, and the Company will sell to Purchaser, 1,213.766 of the Company’s
Class BPreferred Units (the “Class B
Preferred Units”) and 2,862,344 of the Company’s Class A Common Units (the “Class
A Common Units”). All Class B Preferred Units and Class A Common Units
acquired by Purchaser are referred to herein as “Securities.”  Certain definitions are set forth in Section 6
of this 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.                                       Purchase
and Sale of Securities.

 

(a)                                  Upon
execution of this Agreement (the “Closing”), Purchaser will purchase,
and the Company will sell, (i) 2,356,608 Class A Common Units at a price of
$0.10 per unit (the “Carried Common Units”), (ii) 505,736 Class A Common
Units at a price of $0.10 per unit (the “Co-Invest Common Units” and
together with the Class B Preferred Units, the “Co-Invest Units”), and
(iii) 1,213.766 Class B Preferred Units at a price of $1,000.00 per unit. The
Company will deliver to Purchaser a copy of the certificate(s) representing
such Securities, and Purchaser will deliver to Solera, Inc., for the benefit of
the Company, a cashier’s or certified check or wire transfer of immediately
available funds in an aggregate amount equal to $1,500,000.00 as payment for
such Securities.

 

(b)                                 Within
30 days after the purchase of any Carried Common Units hereunder, Purchaser
will make an effective election with the Internal Revenue Service under
Section 83(b) of the Internal Revenue Code and the regulations promulgated
thereunder, as amended (the “Code”),
in the form of Exhibit A attached hereto.

 

(c)                                  Until
released upon the occurrence of a Sale of the Company or a Public Offering as
provided below, all certificates evidencing any Securities that are unvested
shall be held by the Company for the benefit of Purchaser and the other
holder(s) of Securities; provided, however, that certificates representing the
Carried Common Units shall be released when all of the Carried Common Units
represented by such certificates are fully vested. Upon the occurrence of a
Sale of the Company, the Company will return all certificates in its possession
evidencing Securities to the record holders thereof. Upon the consummation of a
Public Offering, the Company will return to the record holders thereof
certificates in its possession evidencing the Vested Carried Common Units (as
defined below).

 

(d)                                 In
connection with the purchase and sale of the Securities, Purchaser represents
and warrants to the Company that as of the date hereof and as of the Closing:

 

1

 

(i)                                     The
Securities to be acquired by Purchaser pursuant to this Agreement will be
acquired for Purchaser’s own account and not with a view to, or intention of,
distribution thereof in violation of the Securities Act, or any applicable
state securities laws, and the Securities will not be disposed of in
contravention of the Securities Act or any applicable state securities laws.

 

(ii)                                  Purchaser
is an executive officer of the Company and/or Solera, Inc., is sophisticated in
financial matters and is able to evaluate the risks and benefits of the
investment in the Securities.

 

(iii)                               Purchaser
is an “accredited investor” within the meaning of Rule 501 of Regulation D of
the Securities and Exchange Commission.

 

(iv)                              Purchaser
is able to bear the economic risk of his investment in the Securities for an
indefinite period of time because the Securities have not been registered under
the Securities Act and, therefore, cannot be sold unless subsequently
registered under the Securities Act or an exemption from such registration is
available.

 

(v)                                 Purchaser
has had an opportunity to ask questions and receive answers concerning the
terms and conditions of the offering of Securities and has had full access to
such other information concerning the Company as he has requested.

 

(vi)          This
Agreement constitutes the legal, valid and binding obligation of Purchaser,
enforceable in accordance with its terms, and the execution, delivery and
performance of this Agreement by Purchaser does not and will not conflict with,
violate or cause a breach of any agreement, contract or instrument to which
Purchaser is a party or any judgment, order or decree to which Purchaser is
subject.

 

(vii)         Except
for the Solera Employment Agreement, Purchaser is neither party to, nor bound
by, any other employment agreement, consulting agreement, noncompete agreement,
non-solicitation agreement or confidentiality agreement.

 

(viii)        Purchaser
is a resident of the District of Columbia.

 

(e)           As
an inducement to the Company to issue the Securities to Purchaser, and as a
condition thereto, Purchaser acknowledges and agrees that neither the issuance
of the Securities to Purchaser nor any provision contained in this Section 1
shall entitle Purchaser to remain in the employment of the Company, Solera,
Inc. or their respective Subsidiaries or affect the right of the Company,
Solera, Inc. or their respective Subsidiaries to terminate Purchaser’s
employment at any time for any reason.

 

(f)            At
the Closing, Purchaser shall execute in blank ten security transfer powers in
the form of Exhibit B attached hereto (the “Security Powers”)
with respect to the Securities and shall deliver such Security Powers to the
Company. The Security Powers shall authorize the Company to assign, transfer
and deliver the Securities to the appropriate acquiror thereof pursuant to Section
3 below or Section 4 of the Securityholders Agreement and under no
other circumstances.

 

2

 

(g)           At
the Closing, if Purchaser is lawfully married, Purchaser’s spouse shall execute
the Consent in the form of Exhibit C attached hereto.

 

(h)           At
the Closing, Purchaser shall become a party to the LLC Agreement and a party to
the Securityholders Agreement and the Registration Agreement, in each case, in
the capacity of an Other Securityholder, and the Investors hereby consent to
Purchaser becoming a party to such agreements.

 

2.             Vesting of Carried Common Units.

 

(a)           The
Co-Invest Units acquired by Purchaser shall be vested upon the purchase thereof.
The Carried Common Units shall be subject to vesting in the manner specified in
this Section 2.

 

(b)           Except
as otherwise provided in this Section 2, the Carried Common Units shall
become vested, in accordance with the following schedule, if as of each such
date Purchaser is employed by the Company or any of its Subsidiaries:

 

	
  Date

  	
   

  	
  Cumulative 

  Percentage of Carried Common 

  Units Vested

  	
   

  
	
  April 1, 2006

  	
   

  	
  20.00

  	
  %

  
	
  June 30, 2006

  	
   

  	
  25.00

  	
  %

  
	
  September 30, 2006

  	
   

  	
  30.00

  	
  %

  
	
  December 31, 2006

  	
   

  	
  35.00

  	
  %

  
	
  March 31, 2007

  	
   

  	
  40.00

  	
  %

  
	
  June 30, 2007

  	
   

  	
  45.00

  	
  %

  
	
  September 30, 2007

  	
   

  	
  50.00

  	
  %

  
	
  December 31, 2007

  	
   

  	
  55.00

  	
  %

  
	
  March 31, 2008

  	
   

  	
  60.00

  	
  %

  
	
  June 30, 2008

  	
   

  	
  65.00

  	
  %

  
	
  September 30, 2008

  	
   

  	
  70.00

  	
  %

  
	
  December 31, 2008

  	
   

  	
  75.00

  	
  %

  
	
  March 31, 2009

  	
   

  	
  80.00

  	
  %

  
	
  June 30, 2009

  	
   

  	
  85.00

  	
  %

  
	
  September 30, 2009

  	
   

  	
  90.00

  	
  %

  
	
  December 31, 2009

  	
   

  	
  95.00

  	
  %

  
	
  March 31, 2010

  	
   

  	
  100.00

  	
  %

  

 

(c)           Upon
the occurrence of a Sale of the Company, all Carried Common Units which have
not yet become vested shall become vested as of the date of consummation of the
Sale of the Company, if, as of such date, Purchaser has been continuously
employed by the Company, Solera, Inc. or any of their Subsidiaries from the
date of this Agreement through and including such date.

 

(d)           In
the event of a Public Sale of Class A Common Units by the Investors, if the
number of Vested Common Units then outstanding is less than the Transfer Amount
(as 

 

3

 

defined in Section 4(b)) applicable to
such sale by the Investors, a number of Unvested Carried Common Units equal to
such difference shall become vested in connection with such sale by the
Investors.

 

(e)           If (i) requested by Purchaser in a written
notice to the Company in connection with a Sale of the Company, and (ii)
Purchaser is a “disqualified individual” (within the meaning of Code Section
280G(c)) entitled to receive a “parachute payment” (within the meaning of Code
Section 280G(b)) in connection with such Sale of the Company, and (iii)
Purchaser has waived his 280G Payment (as defined below) subject to the Member
Vote (as defined below), the Company shall use commercially reasonable efforts
prior to the closing of such Sale of the Company to hold a vote of the Company’s
members (the “Member Vote”) seeking approval of any such parachute
payment to the extent such parachute payment exceeds 2.999 times Purchaser’s “base
amount” (within the meaning of Code Section 280G(b)(3)) (the “280G Payment”).

 

(f)            Carried
Common Units that have become vested (“Vested Carried Common Units”) and
the Co-Invest Units that are Class A Common Units are referred to herein as “Vested
Common Units.”  The Vested Common
Units and the Class B Preferred Units are collectively referred to herein as “Vested
Units.”  All Carried Common Units
that have not vested are referred to herein as “Unvested Carried Common
Units.”

 

3.             Repurchase Option.

 

(a)           In
the event of a Separation, the Carried Common Units (whether vested or unvested
and whether held by Purchaser or one or more of Purchaser’s transferees, other
than the Company and the Investors) will be subject to repurchase, in each case
by the Company and the Investors pursuant to the terms and conditions set forth
in this Section 3 (the “Repurchase Option”). The Company may
assign its repurchase rights set forth in this Section 3 to any Person; provided
that if there is a Subsidiary Public Offering and the securities of such
Subsidiary are distributed to the members of the Company, then such Subsidiary
will be treated as the Company for purposes of this Section 3 with
respect to any repurchase of the securities of such Subsidiary.

 

(b)           In
the event of a Separation, (i) the purchase price for each Unvested Carried
Common Unit will be the lesser of (A) Purchaser’s Original Cost for such unit
and (B) the Fair Market Value of such unit as of the delivery date of the
Repurchase Notice or Supplemental Repurchase Notice, as the case may be, in
either case first delivered pursuant to Section 3(c) and (ii) the
purchase price for each Vested Carried Common Unit will be the Fair Market
Value of such unit as of the delivery date of the Repurchase Notice or
Supplemental Repurchase Notice, as the case may be, in either case delivered
pursuant to Section 3(c); provided, however, that if Purchaser’s
employment is terminated with Cause (as defined in the Solera Employment
Agreement), the purchase price for each Vested Carried Common Unit will be the
lesser of (A) Purchaser’s Original Cost for such unit and (B) the Fair Market
Value of such unit as of the delivery date of the Repurchase Notice or
Supplemental Repurchase Notice, as the case may be.

 

4

 

(c)           In
the event of a Separation, the Company (with the approval of the Board) may
elect to purchase all or any portion of the Unvested Carried Common Units
and/or the Vested Carried Common Units pursuant to this Section 3 by
delivering written notice (the “Repurchase Notice”) to the holder or
holders of such securities within six months and 10 days after the Separation. The
Repurchase Notice will set forth the number of Carried Common Units to be
acquired from each holder, the aggregate consideration to be paid for such
units and the time and place for the closing of the transaction. The number of
Carried Common Units to be repurchased by the Company shall first be satisfied
to the extent possible from the Carried Common Units held by Purchaser at the
time of delivery of the Repurchase Notice. If the number of Carried Common
Units then held by Purchaser is less than the total number of Carried Common
Units that the Company has elected to purchase, the Company shall purchase the
remaining Carried Common Units elected to be purchased from the other holder(s)
of Securities under this Agreement (i.e., Purchaser’s Permitted Transferees),
pro rata according to the number of Securities held by such other holder(s) at
the time of delivery of such Repurchase Notice (determined as nearly as
practicable to the nearest unit). The number of Unvested Carried Common Units
and Vested Carried Common Units to be repurchased hereunder will be allocated
among Purchaser and the other holders of Securities (if any) pro rata according
to the number of Carried Common Units to be purchased from such Person.

 

(d)           If
for any reason the Company does not elect to purchase all of the Carried Common
Units pursuant to the Repurchase Option, the Investors shall be entitled to
exercise the Repurchase Option for all or any portion of the Unvested Carried
Common Units and/or Vested Carried Common Units that the Company has not
elected to purchase (the “Available Securities”). As soon as practicable
after the Company has determined that there will be Available Securities, but
in any event within five months after the Separation, the Company shall give
written notice (the “Option Notice”) to the Investors setting forth the
number of Available Securities and the purchase price for the Available
Securities. The Investors may elect to purchase any or all of the Available
Securities by giving written notice to the Company within six months and 10
days after the Separation. If the Investors elect to purchase an aggregate
number greater than the number of Available Securities, the Available
Securities shall be allocated among the Investors based upon the number of Class
A Common Units owned by each Investor. As soon as practicable, and in any event
within ten days, after the expiration of the six-month and ten-day period set
forth above, the Company shall notify each holder of Securities as to the
number of units being purchased from such holder by the Investors (the “Supplemental
Repurchase Notice”). At the time the Company delivers the Supplemental
Repurchase Notice to the holder(s) of Securities, the Company shall also
deliver written notice to each Investor setting forth the number of units such
Investor is entitled to purchase, the aggregate purchase price and the time and
place of the closing of the transaction. The number of Unvested Carried Common
Units and Vested Carried Common Units to be repurchased hereunder shall be
allocated among the Company and the Investors pro rata according to the number
of Carried Common Units to be purchased by each of them.

 

(e)           The
closing of the purchase of the Securities pursuant to the Repurchase Option
shall take place on the date designated by the Company in the Repurchase Notice
or Supplemental Repurchase Notice, which date shall not be more than one month
nor less than five days after the delivery of the later of either such notice
to be delivered. The Company will pay for the Securities to be purchased by it
pursuant to the Repurchase Option by first offsetting 

 

5

 

amounts outstanding under any bona fide debts owed by
Purchaser to the Company, and will pay the remainder of the purchase price by,
at its option, (A) a check or wire transfer of funds, (B) if the purchase is
being made by a corporate successor to the Company, the issuance of a
subordinated promissory note of the Company payable in full in one lump sum on
the third anniversary of the date of issuance and bearing interest at a rate
equal to such rate as may be determined by the Board (provided that such rate
may not be less than the prime rate (as published in The Wall Street Journal
from time to time)), which interest shall be payable in cash on a quarterly
basis, (C) issuing in exchange for such securities a number of the Company’s
Class A Preferred Units (having the rights and preferences set forth in the LLC
Agreement) equal to (x) the aggregate portion of the repurchase price for such
Securities determined in accordance with this Section 3 to be paid by
the issuance of Class A Preferred Units divided by (y) 1,000, and for
purposes of the LLC Agreement each such Class A Preferred Unit shall as of its
issuance be deemed to have Capital Contributions (as defined in the LLC
Agreement) made with respect to such Class A Preferred Unit equal to $1,000, or
(D) any combination of (A), (B) and (C) as the Board may elect in its
discretion; provided that, to the extent that the Company has readily available
cash resources in excess of its working capital and other reasonable cash needs
and without imposing any obligation on the Company to raise financing to fund
the repurchases or to materially impair its financial liquidity or condition,
the Company shall use reasonable efforts to pay the purchase price for such
Securities pursuant to the foregoing clause (A). Each Investor will pay for the
Securities purchased by it by a check or wire transfer of funds. The Company
and the Investors will be entitled to receive customary representations and
warranties from the sellers regarding such sale.

 

By way of example only for the purpose of clarifying
the mechanics of clause (C) of Section 3(e), if the Company intends to
repurchase Securities consisting of 3,000,000 Class A Common Units by issuance
of Class A Preferred Units and the aggregate repurchase price for such Class A
Common Units determined in accordance with this Section 3 is $400,500,
then the Company would issue to Purchaser 400.5 Class A Preferred Units, and
for purposes of the LLC Agreement each whole Class A Preferred Unit issued to
Purchaser would as of its issuance be deemed to have Capital Contributions made
for such Class A Preferred Unit of $1,000, and the Capital Contributions made
for the one-half Class A Preferred Unit would be $500.

 

(f)            Notwithstanding
anything to the contrary contained in this Agreement, all repurchases of
Securities by the Company pursuant to the Repurchase Option shall be subject to
applicable restrictions contained in the Delaware Limited Liability Company
Act, the Delaware General Corporation Law or such other governing corporate or
limited liability company law, and in the Company’s and its Subsidiaries’ debt
and equity financing agreements, provided that with respect to any such equity
financing agreements in effect on the date hereof, only such restrictions as
are set forth in such agreements as in effect on the date hereof shall apply
for purposes of this Section 3.2(f). If any such restrictions prohibit (i) the
repurchase of Securities hereunder which the Company is otherwise entitled or
required to make or (ii) dividends or other transfers of funds from one or more
Subsidiaries to the Company to enable such repurchases, then the Company may make
such repurchases as soon as it is permitted to make repurchases or receive
funds from Subsidiaries under such restrictions but in no event later than 12
months after the date of the Repurchase Notice, and for any such repurchase
that is to be made at Fair Market Value, Fair Market Value shall be determined
as of the date such restrictions lapse.

 

6

 

(g)           Notwithstanding
anything to the contrary contained in this Agreement, if the Fair Market Value
of Securities is finally determined to be an amount at least 20% greater than
the per unit repurchase price for such unit of Securities in the Repurchase
Notice or in the Supplemental Repurchase Notice, each of the Company and the
Investors shall have the right to revoke its exercise of the Repurchase Option
for all or any portion of the Securities elected to be repurchased by it by
delivering notice of such revocation in writing to the holders of Securities
during the thirty-day period beginning on the date that the Company and/or the
Investors are given written notice that the Fair Market Value of a unit of
Securities was finally determined to be an amount at least 20% greater than the
per unit repurchase price for Securities set forth in the Repurchase Notice or
in the Supplemental Repurchase Notice.

 

(h)           The
provisions of this Section 3 will terminate with respect to each Vested
Carried Common Unit upon the consummation of a Public Offering, and with
respect to all Securities upon the consummation of a Sale of the Company.

 

4.             Restrictions on Transfer of Securities.

 

(a)           Transfer
of Securities. The holders of Securities shall not Transfer any interest in
any Securities, except pursuant to (i) the provisions of Section 3
hereof, (ii) the provisions of Section 2 of the Securityholders
Agreement (a “Participating Sale”), (iii) an Approved Sale (as
defined in Section 4 of the Securityholders Agreement), or (iv) the
provisions of Section 4(b) below.

 

(b)           Certain
Permitted Transfers. The restrictions in this Section 4 will not
apply with respect to any Transfer of Securities made (i) pursuant to
applicable laws of descent and distribution or to such Person’s legal guardian
in the case of any mental incapacity or among such Person’s Family Group, or
(ii) subject to the restrictions on transfer set forth in the Registration
Agreement (including, without limitation, in Section 3 thereof) or any
agreement entered into pursuant thereto, of Class A Common Units at such time
as the Investors sell Class A Common Units in a Public Sale, but in the
case of this clause (ii) only an amount of Class A Common Units (the “Transfer
Amount”) equal to the product of (A) the number of Class A Common Units
owned by Purchaser and (B) a fraction (the “Transfer Fraction”), the
numerator of which is the number of Class A Common Units sold by the Investors
in such Public Sale and the denominator of which is the total number of Class A
Common Units held by the Investors prior to such Public Sale; provided
that, if at the time of a Public Sale of units by the Investors, Purchaser
chooses not to Transfer the Transfer Amount, Purchaser shall retain the right
to Transfer an amount of Class A Common Units at a future date equal to the
product of the number of Class A Common Units owned by Purchaser at such future
date and the Transfer Fraction; provided further that any in-kind
distributions of Class A Common Units by the Investors to their limited
partners shall be deemed to be a Public Sale for purposes of this Section 4(b)(ii);  provided further that the restrictions
contained in this Section 4 will continue to be applicable to the
Securities after any Transfer of the type referred to in clause (i)
above and the transferees of such Securities must agree in writing to be bound
by the provisions of this Agreement. Any transferee of Securities pursuant to a
Transfer in accordance with the provisions of clause (i) of this Section
4(b) is herein referred to as a “Permitted Transferee.”  Upon the Transfer of Securities pursuant to
this Section 4(b), the transferring holder of Securities will deliver a
written notice (a “Transfer Notice”) to the Company. In the case of a
Transfer 

 

7

 

pursuant to clause (i) hereof, the Transfer
Notice will disclose in reasonable detail the identity of the Permitted
Transferee(s).

 

(c)           Termination
of Restrictions. The restrictions set forth in this Section 4
will continue with respect to each unit of Securities until the earlier of
(i) the date on which such unit of Securities has been transferred in a
Public Sale permitted by this Section 4, or (ii) the consummation
of a Sale of the Company.

 

5.             Additional Restrictions on Transfer of Securities.

 

(a)           Legend.
The certificates representing the Securities will bear a legend in
substantially the following form:

 

“THE SECURITIES REPRESENTED BY THIS CERTIFICATE WERE
ORIGINALLY ISSUED AS OF APRIL 13, 2006, 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 ALSO SUBJECT TO ADDITIONAL RESTRICTIONS ON TRANSFER,
CERTAIN REPURCHASE OPTIONS AND CERTAIN OTHER AGREEMENTS SET FORTH IN A
SECURITIES PURCHASE AGREEMENT BETWEEN THE COMPANY AND AN EXECUTIVE OF THE
COMPANY, DATED AS OF APRIL 13, 2006, AS AMENDED. A COPY OF SUCH AGREEMENT MAY
BE OBTAINED BY THE HOLDER HEREOF AT THE COMPANY’S PRINCIPAL PLACE OF BUSINESS
WITHOUT CHARGE.”

 

(b)           Opinion
of Counsel. No holder of Securities may Transfer any Securities (except
pursuant to Section 3 or 4(b) of this Agreement, Section 4 of the
Securityholders Agreement or an effective registration statement under the
Securities Act) without first delivering to the Company a written notice at
least 10 days prior to such transfer describing in reasonable detail the
proposed Transfer, and, if requested by the Company prior to such Transfer, an
opinion of counsel (reasonably acceptable in form and substance to the Company)
that neither registration nor qualification under the Securities Act and
applicable state securities laws is required in connection with such transfer. In
addition, if the holder of the Securities delivers to the Company an opinion of
counsel that no subsequent Transfer of such Securities shall require
registration under the Securities Act, the Company shall promptly upon such
contemplated Transfer deliver new certificates for such Securities that do not
bear the Securities Act portion of the legend set forth in Section 5(a).
If the Company is not required to deliver new certificates for such Securities
not bearing such legend, the holder thereof shall not Transfer the same until
the prospective transferee has confirmed to the Company in writing its
agreement to be bound by the conditions contained in this Section 5.

 

8

 

6.             Definitions.

 

“Affiliate” means, (i) with respect to any
Person, any Person that controls, is controlled by or is under common control
with such Person or an Affiliate of such Person, and (ii) with respect to any
Investor, any general or limited partner of such Investor, any employee or
owner of any such partner, or any other Person controlling, controlled by or
under common control with such Investor; it being understood and agreed that
GTCR I and its Affiliates shall for all purposes hereunder shall be Affiliates
of GTCR II.

 

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

 

“Closing Date” means the date of the Closing.

 

“Fair Market Value” of each unit of Securities
means the average of the closing prices of the sales of such Securities on all
securities exchanges on which such Securities may at the time be listed, or, if
there have been no sales on any such exchange on any day, the average of the
highest bid and lowest asked prices on all such exchanges at the end of such
day, or, if on any day such Securities are not so listed, the average of the
representative bid and asked prices quoted in the NASDAQ System as of 4:00 P.M.,
New York time, or, if on any day such Securities are not quoted in the NASDAQ
System, the average of the highest bid and lowest asked prices on such day in
the domestic over-the-counter market as reported by the National Quotation
Bureau Incorporated, or any similar successor organization, in each such case
averaged over a period of 21 days consisting of the day as of which the Fair
Market Value is being determined and the 20 consecutive business days prior to
such day. If at any time such Securities are not listed on any securities
exchange or quoted in the NASDAQ System or the over-the-counter market, the
Fair Market Value will be the fair value of such Securities as determined in
good faith by the Board. If Purchaser reasonably disagrees with such determination,
Purchaser shall deliver to the Board a written notice of objection within ten
days after delivery of the Repurchase Notice (or if no Repurchase Notice is
delivered, then within ten days after delivery of the Supplemental Repurchase
Notice). Upon receipt of Purchaser’s written notice of objection, the Board and
Purchaser will negotiate in good faith to agree on such Fair Market Value. If
such agreement is not reached within 30 days after the delivery of the
Repurchase Notice (or if no Repurchase Notice is delivered, then within 30 days
after the delivery of the Supplemental Repurchase Notice), Fair Market Value
shall be determined by an appraiser jointly selected by the Board and
Purchaser, which appraiser shall submit to the Board and Purchaser a report
within 30 days of its engagement setting forth such determination. If the
parties are unable to agree on an appraiser within 45 days after delivery of
the Repurchase Notice or the Supplemental Repurchase Notice, within seven days,
each party shall submit the names of four nationally recognized firms that are
engaged in the business of valuing non-public securities, and each party shall
be entitled to strike two names from the other party’s list of firms, and the
appraiser shall be selected by lot from the remaining four appraisal firms. The
expenses of such appraiser shall be borne by Purchaser unless the appraiser’s
valuation is more than 10% greater than the amount determined by the Board, in
which case the expenses of the appraiser shall be borne by the Company. In
making such appraisal, the appraiser shall determine the fair value of the
Company as a whole without discount for either lack of control or contractual
restrictions on transfer applicable to the Securities. The determination of
such appraiser as to Fair Market Value shall be final and binding upon all
parties.

 

9

 

“Family Group” means a Person’s spouse,
brothers or sisters, antecedents, descendants (whether natural or adopted) and
the brothers or sisters, antecedents and descendants (whether natural or
adopted) of such Person’s spouse, and any trust, family limited partnership,
limited liability company or other entity wholly owned, directly or indirectly,
by such Person or such Person’s spouse, brothers or sisters, antecedents and/or
descendants or the brothers or sisters, antecedents and/or descendants of such
Person’s spouse, that is and remains solely for the benefit of such Person
and/or such Person’s spouse, brothers or sisters, antecedents and/or
descendants or the brothers or sisters, antecedents and/or descendants or such
Person’s spouse, and any retirement plan for such Person.

 

“GTCR I” means GTCR Golder Rauner, L.L.C., a
Delaware limited liability company.

 

“GTCR II” means GTCR Golder Rauner II, L.L.C.,
a Delaware limited liability company.

 

“GTCR Co-Invest II” means GTCR Co-Invest II,
L.P., a Delaware limited partnership.

 

“GTCR Fund VIII” means GTCR Fund VIII, L.P., a
Delaware limited partnership.

 

“GTCR Fund VIII/B” means GTCR Fund VIII/B,
L.P., a Delaware limited partnership.

 

“Investors” means GTCR Fund VIII, GTCR Fund
VIII/B, GTCR Co-Invest II, and any other investment fund managed by GTCR I or
GTCR II that at any given time owns securities of the Company.

 

“LLC Agreement” means the Limited Liability
Company Agreement of the Company, as amended from time to time pursuant to its
terms.

 

“Majority Holders” means the holders of a
majority of the Investor Preferred (as defined in the Unit Purchase Agreement)
or, if no Investor Preferred is outstanding, the holders of a majority of the
Investor Common (as defined in the Unit Purchase Agreement).

 

“Original Cost” means, with respect to each
Common Unit purchased hereunder, $0.10 (as proportionately adjusted for all
subsequent unit splits, unit dividends and other recapitalizations).

 

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

 

“Public Offering” means the sale in an
underwritten public offering registered under the Securities Act of equity
securities of the Company or a corporate successor to the Company.

 

10

 

“Public Sale” means (i) any sale pursuant
to a registered public offering under the Securities Act or (ii) any sale
to the public pursuant to Rule 144 promulgated under the Securities Act
effected through a broker, dealer or market maker (other than pursuant to Rule
144(k) prior to a Public Offering).

 

“Registration Agreement” means the Registration
Rights Agreement, dated as of April 1, 2005, among the Company and certain
of its securityholders, as amended from time to time pursuant to its terms.

 

“Sale of the Company” means any transaction or
series of related transactions pursuant to which any Person or group of related
Persons other than, except for purposes of Section 2(c), the Investors
or their Affiliates in the aggregate acquire(s) (i) equity securities of
the Company possessing the voting power (other than voting rights accruing only
in the event of a default, breach or event of noncompliance) to elect a
majority of the Board (whether by merger, consolidation, reorganization,
combination, sale or transfer of the Company’s equity, securityholder or voting
agreement, proxy, power of attorney or otherwise) or (ii) all or
substantially all of the Company’s assets determined on a consolidated basis; provided
that a Public Offering shall not constitute a Sale of the Company.

 

“Securities” will continue to be Securities in
the hands of any holder other than Purchaser (except for the Company and the
Investors and except for transferees in a Public Sale), and except as otherwise
provided herein, each such other holder of Securities will succeed to all
rights and obligations attributable to Purchaser as a holder of Securities
hereunder. Securities will also include equity of the Company (or a corporate
successor to the Company or a Subsidiary of the Company) issued with respect to
Securities (i) by way of a unit split, unit dividend, conversion, or other
recapitalization, (ii) by way of reorganization or recapitalization of the
Company in connection with the incorporation of a corporate successor prior to
a Public Offering or (iii) by way of a distribution of securities of a
Subsidiary of the Company to the members of the Company following or with
respect to a Subsidiary Public Offering. Notwithstanding the foregoing, all
Unvested Carried Common Units shall remain Unvested Carried Common Units after
any Transfer thereof.

 

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

 

“Securityholders Agreement” means the
Securityholders Agreement, dated as of April 1, 2005, among the Company
and certain of its securityholders, as amended from time to time pursuant to
its terms.

 

“Separation” means Purchaser ceasing to be
employed by the Company, Solera, Inc. or any of their respective Subsidiaries
for any reason.

 

“Solera Employment Agreement” means the
Employment Agreement, dated as of April 13, 2006, among the Company, Solera,
Inc. and Purchaser, as amended from time to time pursuant to its terms.

 

“Solera, Inc.” means Solera, Inc., a Delaware
corporation.

 

11

 

“Subsidiary” means, with respect to any Person,
any corporation, limited liability company, partnership, association, or
business entity of which (i) if a corporation, a majority of the total
voting power of shares of stock 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 that
Person or one or more of the other Subsidiaries of that Person or a combination
thereof, or (ii) if a limited liability company, partnership, association,
or other business entity (other than a corporation), a majority of partnership
or other similar ownership interest thereof is at the time owned or controlled,
directly or indirectly, by that Person or one or more Subsidiaries of that
Person or a combination thereof. For purposes hereof, a Person or Persons shall
be deemed to have a majority ownership interest in a limited liability company,
partnership, association, or other business entity (other than a corporation)
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 or general partner of such limited
liability company, partnership, association, or other business entity. For
purposes hereof, references to a “Subsidiary” of any Person shall be
given effect only at such times that such Person has one or more Subsidiaries,
and, unless otherwise indicated, the term “Subsidiary” refers to a
Subsidiary of the Company.

 

“Subsidiary Public Offering” means the sale in
an underwritten public offering registered under the Securities Act of equity
securities of Solera, Inc. or another Subsidiary of the Company.

 

“Unit Purchase Agreement” means the Amended and
Restated Unit Purchase Agreement, dated as of April 13, 2006, between the
Company and the Investors, as amended from time to time pursuant to its terms.

 

“Transfer” means to sell, transfer, assign,
pledge or otherwise dispose of (whether with or without consideration and
whether voluntarily or involuntarily or by operation of law).

 

7.             Notices. All notices, demands or other
communications to be given or delivered under or by reason of the provisions of
this Agreement shall be in writing and shall be deemed to have been given when
(i) delivered personally to the recipient, (ii) sent to the recipient by
reputable express courier service (charges prepaid), (iii) mailed to the
recipient by certified or registered mail, return receipt requested and postage
prepaid, or (iv) telecopied to the recipient (with hard copy sent to the
recipient by reputable overnight courier service (charges prepaid) that same
day) if telecopied before 5:00 p.m. Chicago, Illinois time on a business day,
and otherwise on the next business day. Such notices, demands and other
communications shall be sent to the parties at the addresses indicated below:

 

If to the Company:

 

Solera Holdings, LLC

12230 El Camino
Real, Suite 200

San Diego, CA 92130

Attention:  Chief
Executive Officer

Facsimile:  (858) 812-3011

 

12

 

with copies to:

 

GTCR Golder Rauner II,
L.L.C.

6100 Sears Tower

Chicago, Illinois 60606-6402

Attention:  Philip A. Canfield

Craig A. Bondy

Facsimile: (312)
382-2201

 

and

 

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois 60601

Attention:  Stephen
L. Ritchie, P.C.

Mark A. Fennell

Facsimile: (312)
861-2200

 

If to Purchaser:

 

Jack Pearlstein

5122
Warren Place, NW

Washington,
DC 20016

Facsimile:  (925) 866-3491

 

If to the Investors:

 

GTCR Golder Rauner II,
L.L.C.

6100 Sears Tower

Chicago, Illinois 60606-6402

Attention:  Philip
A. Canfield

Craig A. Bondy

Facsimile: (312)
382-2201

 

with a copy to:

 

Kirkland & Ellis
LLP

200 East Randolph Drive

Chicago, Illinois 60601

Attention:  Stephen
L. Ritchie, P.C.

Mark A. Fennell

Facsimile: (312)
861-2200

 

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

 

13

 

8.             General Provisions.

 

(a)           Termination.
If the Closing has not occurred prior to the earliest to occur of (the “Early
Termination Date”) a Separation and the first anniversary of the date
hereof, this Agreement shall terminate and be of no further force or effect as
of the Early Termination Date.

 

(b)           Transfers
in Violation of Agreement. Any Transfer or attempted Transfer of any
Securities in violation of any provision of this Agreement shall be void, and
the Company shall not record such Transfer on its books or treat any purported
transferee of such Securities as the owner of such equity for any purpose.

 

(c)           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 invalid, illegal or unenforceable in any
respect under any applicable law or rule in any jurisdiction, such invalidity,
illegality or unenforceability will not affect any other provision or any other
jurisdiction, but this Agreement will be reformed, construed and enforced in
such jurisdiction as if such invalid, illegal or unenforceable provision had
never been contained herein.

 

(d)           Complete
Agreement. This Agreement, those documents expressly referred to herein and
other documents of even date herewith embody the complete agreement and understanding
among the parties and supersede and preempt 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.

 

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

 

(f)            Counterparts.
This Agreement may be executed in separate counterparts (including by means of
facsimile), each of which is deemed to be an original and all of which taken
together constitute one and the same agreement.

 

(g)           Successors
and Assigns. Except as otherwise provided herein, this Agreement shall bind
and inure to the benefit of and be enforceable by Purchaser, the Company,
Solera, Inc., the Investors and their respective successors and assigns
(including subsequent holders of Securities); provided that the rights
and obligations of Purchaser under this Agreement shall not be assignable
except in connection with a permitted transfer of Securities hereunder.

 

(h)           Choice
of Law. The law of the State of Delaware will govern all questions
concerning the relative rights of the Company, Solera, Inc. and its securityholders.
All other questions concerning the construction, validity and interpretation of
this Agreement and the exhibits hereto will be governed by and construed in
accordance with the internal 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.

 

14

 

(i)            MUTUAL
WAIVER OF JURY TRIAL. BECAUSE
DISPUTES ARISING IN CONNECTION WITH COMPLEX TRANSACTIONS ARE MOST QUICKLY AND
ECONOMICALLY RESOLVED BY AN EXPERIENCED AND EXPERT PERSON AND THE PARTIES WISH
APPLICABLE STATE AND FEDERAL LAWS TO APPLY (RATHER THAN ARBITRATION RULES), THE
PARTIES DESIRE THAT THEIR DISPUTES BE RESOLVED BY A JUDGE APPLYING SUCH
APPLICABLE LAWS. THEREFORE, TO ACHIEVE THE BEST COMBINATION OF THE BENEFITS OF
THE JUDICIAL SYSTEM AND OF ARBITRATION, EACH PARTY TO THIS AGREEMENT HEREBY WAIVES
ALL RIGHTS TO TRIAL BY JURY IN ANY ACTION, SUIT, OR PROCEEDING BROUGHT TO
RESOLVE ANY DISPUTE BETWEEN OR AMONG ANY OF THE PARTIES HERETO, WHETHER ARISING
IN CONTRACT, TORT, OR OTHERWISE, ARISING OUT OF, CONNECTED WITH, RELATED OR
INCIDENTAL TO THIS AGREEMENT, THE TRANSACTIONS CONTEMPLATED HEREBY AND/OR THE
RELATIONSHIP ESTABLISHED AMONG THE PARTIES HEREUNDER.

 

(j)            Remedies.
Each of the parties to this Agreement (and the Investors as third-party
beneficiaries) will be entitled to enforce its rights under this Agreement
specifically, to recover damages and costs (including attorney’s fees) caused
by any breach of any provision of this Agreement and to exercise all other
rights existing in its favor. 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
deposit) for specific performance and/or other injunctive relief in order to
enforce or prevent any violations of the provisions of this Agreement.

 

(k)           Amendment
and Waiver. The provisions of this Agreement may be amended and waived only
with the prior written consent of the Company, Solera, Inc., Purchaser and the
Majority Holders.

 

(l)            Business
Days. If any time period for giving notice or taking action hereunder
expires on a day which is a Saturday, Sunday or holiday in the state in which
the Company’s chief executive office is located, the time period shall be
automatically extended to the business day immediately following such Saturday,
Sunday or holiday.

 

(m)          Termination.
This Agreement shall survive a Separation and shall remain in full force and
effect after such Separation.

 

(n)           Adjustments
of Numbers. All numbers set forth herein that refer to unit prices or
amounts will be appropriately adjusted to reflect unit splits, unit dividends,
combinations of units and other recapitalizations affecting the subject class
of equity.

 

(o)           Deemed
Transfer of Securities. If the Company (and/or the Investors and/or any
other Person acquiring securities) shall make available, at the time and place
and in the amount and form provided in this Agreement, the consideration for
the Securities to be repurchased in accordance with the provisions of this
Agreement, then from and after such time, the Person from whom such units are
to be repurchased shall no longer have any rights as a holder of such units
(other than the right to receive payment of such consideration in accordance 

 

15

 

with this Agreement), and such units shall be deemed
purchased in accordance with the applicable provisions hereof and the Company
(and/or the Investors and/or any other Person acquiring securities) shall be
deemed the owner and holder of such units, whether or not the certificates
therefor have been delivered as required by this Agreement.

 

(p)           No
Pledge or Security Interest. The purpose of the Company’s retention of
Purchaser’s certificates and executed security powers is solely to facilitate
the provisions set forth in Section 3 herein and Section 4 of the
Securityholders Agreement and does not by itself constitute a pledge by
Purchaser of, or the granting of a security interest in, the underlying equity.

 

(q)           Rights
Granted to GTCR and its Affiliates. Any rights granted to GTCR and its
Affiliates hereunder may also be exercised (in whole or in part) by their
designees.

 

(r)            Subsidiary
Public Offering. If, after consummation of a Subsidiary Public Offering,
the Company distributes securities of such Subsidiary to members of the
Company, then such securities will be treated in the same manner as (but
excluding any “preferred” features of the units with respect to which they were
distributed) the units with respect to which they were distributed for purposes
of Sections 1, 2, 3, 4 and 5 hereof.

 

(s)           Delivery
by Facsimile. This Agreement, the agreements referred to herein, and each
other agreement or instrument entered into in connection herewith or therewith
or contemplated hereby or thereby, and any amendments hereto or thereto, to the
extent signed and delivered by means of a facsimile machine, shall be treated
in all manner and respects as an original agreement or instrument and shall be
considered to have the same binding legal effect as if it were the original
signed version thereof delivered in person. At the request of any party hereto
or to any such agreement or instrument, each other party hereto or thereto
shall reexecute original forms thereof and deliver them to all other parties. No
party hereto or to any such agreement or instrument shall raise the use of a
facsimile machine to deliver a signature or the fact that any signature or
agreement or instrument was transmitted or communicated through the use of a
facsimile machine as a defense to the formation or enforceability of a contract
and each such party forever waives any such defense.

 

(t)            Deemed
Senior Management Agreement. Notwithstanding anything in the LLC Agreement,
the Unit Purchase Agreement, the Securityholders Agreement or the Registration
Agreement to the contrary, this Agreement shall be deemed to be a “Senior
Management Agreement” for the purposes of such agreements.

 

*   *   *   *   *

 

16

 

IN WITNESS WHEREOF, the parties hereto have executed
this Securities Purchase Agreement on the date first above written.

 

	
   

  	
  SOLERA
  HOLDINGS, LLC

  
	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Tony Aquila

  
	
   

  	
  Name:

  	
  Tony Aquila

  
	
   

  	
  Its:

  	
  Chief Executive
  Officer

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  /s/ Jack
  Pearlstein

  
	
   

  	
  JACK
  PEARLSTEIN

  

 

 

Signature Page to
Securities Purchase Agreement of Jack Pearlstein

 

17

 

	
  Agreed and Accepted:

  
	
  THE INVESTORS:

  
	
   

  
	
  GTCR FUND VIII, L.P.

  
	
   

  
	
  By:

  	
  GTCR Partners VIII, L.P.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  
	
  Its:

  	
  Principal

  
	
   

  	
   

  
	
   

  	
   

  
	
  GTCR FUND VIII/B, L.P.

  
	
   

  	
   

  
	
  By:

  	
  GTCR Partners VIII,
  L.P.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  
	
  Its:

  	
  Principal

  
	
   

  	
   

  
	
   

  	
   

  
	
  GTCR CO-INVEST II, L.P.

  
	
   

  	
   

  
	
  By:

  	
  GTCR Golder Rauner II,
  L.L.C.

  
	
  Its:

  	
  General Partner

  
	
   

  	
   

  
	
  By:

  	
  /s/ Philip A. Canfield

  	
   

  
	
  Name:

  	
  Philip A. Canfield

  
	
  Its:

  	
  Principal

  

 

 

Signature Page to
Securities Purchase Agreement of Jack Pearlstein

 

18

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