Document:

Amendment No.1 to Repurchase Rights Agreement

 Exhibit 10.43 
  
 AMENDMENT NO. 1 to the 
 FOUNDERS REPURCHASE AND RIGHTS AGREEMENT 
  
 THIS
AMENDMENT No. 1 to the Founders Repurchase and Rights Agreement (this “Amendment”) is made effective as of May 19, 2005 by and among Rackable Systems, Inc. (f/k/a Rackable Corporation), a Delaware corporation (the
“Company”), Rackable Investment LLC, a Delaware limited liability company (“Investment LLC”) and Giovanni Coglitore, Nikolai Gallo and Jack Randall. All capitalized terms not defined herein shall have the meanings set forth in
the Founders Agreement (as defined below). 
  
 R E C I T A L S

  
 WHEREAS, Giovanni Coglitore, Nikolai Gallo and Jack
Randall (collectively, the “Founders”) entered into that certain Founders Repurchase and Rights Agreement with the Company, GNJ, Inc. (f/k/a Rackable Systems, Inc.) (“OldCo”) and Investment LLC as of December 23, 2002 (the
“Founders Agreement”), in connection with that certain Asset Acquisition Agreement between Company, OldCo and the Founders, dated December 23, 2002 (the “Asset Acquisition Agreement”); 
  
 WHEREAS, the Founders, the Company and Investment LLC entered into that
certain Agreement for Sale of Company Warrant Agreement as of December 31, 2004 (the “Sale of Warrant Agreement”), pursuant to which the Company and Investment LLC agreed that notwithstanding anything to the contrary in the Founders
Agreement, the Founders may transfer Founder Shares pursuant to the piggyback rights under the Registration Rights Agreement entered into by and among Company, OldCo, Investment LLC and the Founders dated as of December 23, 2002 and as subsequently
amended on February 5, 2005 (the “Registration Rights Agreement”), and furthermore, the Founders may transfer, except as they are otherwise subject to a lock-up period, without the restrictions set forth in the Founders Agreement, the same
pro rata share of the Founder Shares pursuant to Rule 144 as the pro rata share that Investment LLC transfers pursuant to Rule 144; 
  
 WHEREAS, the Company is considering a firm-commitment underwritten public offering of the Company’s common stock pursuant to a registration statement
on Form S-1 or other form under the Securities Act of 1933, as amended (the “IPO”); 
  
 WHEREAS, the Company, Investment LLC and the Founders desire to amend the Founders Agreement, effective upon the effective date of the Company’s IPO, to take into consideration the Company’s IPO and the
parties’ respective rights and obligations following such IPO, pursuant to the terms and conditions herein. 
  

 1 

 A G R E E M E N T 
  
 NOW, THEREFORE, in consideration of the mutual promises and covenants set forth below, the receipt and sufficiency of which
are hereby acknowledged, the parties hereto agree as follows. 
  
 1. Other Repurchase Event. The parties agree that the Company and Investment LLC’s right to repurchase shares pursuant to Section 2(c) of the Founders Agreement shall terminate upon the effective date of the IPO.
Notwithstanding the foregoing, the Founders, the Company and Investment LLC agree that the Founders shall continue to be bound by Section 10 of the Founders Agreement, and that such Section 10 shall remain in full force and effect for the remainder
of the term stated therein. 
  
 2. Restrictions on
Transfer. Notwithstanding anything to the contrary in the Founders Agreement or the Sale of Company Warrant Agreement, the parties hereto agree as follows: 
  

(a) each of the Founders and other holders of Founder Shares (including, without limitation, the former equityholders of OldCo) may
transfer Founder Shares pursuant to the piggyback rights under the Registration Rights Agreement, and furthermore, each of the Founders and each of such Founder’s Permitted Transferees of Founders Shares together with such Founder may transfer,
except as they are otherwise subject to a lock-up period and subject to applicable securities laws, without the restrictions set forth in the Founders Agreement, up to that number of shares equal to the greater of (i) the same pro rata share of
their Founder Shares as the pro rata share that Investment LLC transfers or (ii) within any six month period, (in the aggregate for each Founder and all of such Founder’s Permitted Transferees) the greater of (1) two percent (2%) of the number
of shares of the Company’s common stock outstanding as shown by the most recent report or statement published by the Company or (2) two times the average weekly volume of trading in the Company’s common stock during the four calendar weeks
preceding the sale. In addition, following any such transfer by the Founders or the Permitted Transferees of Founder Shares, the Founder Shares shall cease to be Founder Shares and holders thereof shall not be bound by the terms and conditions of
the Founders Agreement. 
  
 (b) The parties agree
that the requirement that Founders may not transfer any shares of the Company without the prior written consent of the Board pursuant to Section 4(b) of the Founders Agreement shall terminate upon the effective date of the IPO. 
  
 (c) The parties agree that upon the effective date of the
IPO, except for the Founders and their Permitted Transferees, no other former equity holder or option holder of GNJ, Inc. (f/k/a Rackable Systems, Inc.) including, without limitation, those persons who signed a Joinder and Stockholders Voting
Agreement and Founders Repurchase and Rights Agreement, shall be bound by the restrictions of Section 4 and Section 5 of the Founders Agreement or otherwise be bound thereby. 
  
 (d) The restrictions on the transfer of Founder Shares under Section 4 of the Founders Agreement shall lapse
and be of no further effect at the time that Investment LLC has transferred securities such that it holds less than five percent (5%) of the Company’s outstanding securities on a fully-diluted basis; provided, however, that once Investment LLC
holds less than ten percent (10%), and until it holds less than five percent (5%), of the Company’s outstanding securities on a fully diluted basis, it shall notify each of the Founders of any transfers by Investment LLC of the Company’s
securities within 48 hours of such transfer. 
  

 2 

 (e) For purposes of this paragraph 2, the distribution of securities of the Company by
Investment LLC to its members shall not be considered a transfer and in the event of such distribution, all references to Investment LLC in this paragraph 2 shall mean Parthenon Investors II, L.P. 
  
 3. Approved Sale; Participation Rights; Limited Preemptive Rights;
Director and Officer Indemnification; Delivery of Financial Statements; Inspection Rights and Observation Rights. Effective upon the effective date of the IPO, the parties agree that Sections 5, 6, 7, 12 and 14 of the Founders Agreement shall
terminate and shall be of no further force and effect. 
  
 4.
Founders Agreement. Except as expressly amended hereby, the Founders Agreement shall continue in full force and effect. In the event of any inconsistency or conflict between this Amendment and the Founders Agreement, the terms, conditions and
provisions of this Amendment shall govern and control. 
  
 5. Entire Agreement. This Amendment and the Founders Agreement 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. 
  
 6. Governing Law. The construction, validity, enforcement and interpretation of this Amendment shall be governed by, and construed in accordance
with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or provisions (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. 
  
 7.
Counterparts. This Amendment may be executed in separate counterparts, each of which is deemed to be an original and all of which taken together constitute one and the same agreement. 
  
 REMAINDER OF THE PAGE INTENTIONALLY LEFT BLANK 
  

 3 

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

  

									
	 Rackable Systems, Inc.
 (f/k/a
Rackable Corporation)
	 	 	 	 Rackable Investment LLC
 By: Parthenon Investors II, L.P., its Manager
 By: PCap Partners II, LLC, its
General Partner
 By: PCap II, LLC, its Managing Member

					
	 By
	 	 /s/    WILLIAM P. GARVEY
	 	 	 	 By
	 	 /s/    JOHN RUTHERFORD

	 Name:
	 	William P. Garvey	 	 	 	 Name:
	 	 John Rutherford

	 Title:
	 	 General Counsel, VP of Corporate Development and Secretary
	 	 	 	 Title:
	 	 Managing Member

			
	Giovanni Coglitore	 	 	 	Nikolai Gallo
					
	 By
	 	 /s/    GIOVANNI COGLITORE
	 	 	 	 By
	 	 /s/    NIKOLAI GALLO

			
	Jack Randall	 	 	 	 
					
	 By
	 	 /s/    JACK RANDALL
	 	 	 	 	 	 

  
 [Signature Page to
Amendment]Amendment No.2 to Registration Agreement

 Exhibit 10.44 
  
 AMENDMENT NO. 2 TO 
 RACKABLE SYSTEMS, INC. 
 REGISTRATION AGREEMENT 
  
 THIS AMENDMENT NO. 2 TO RACKABLE SYSTEMS, INC. REGISTRATION AGREEMENT (this “Amendment Agreement”), dated
as of May 19, 2005, is adopted, executed and agreed to, for good and valuable consideration, by each of Rackable Systems, Inc., a Delaware corporation (f/k/a Rackable Corporation) (the “Company”), Rackable Investment LLC, a Delaware
limited liability company (the “Investor”), Giovanni Coglitore, Nikolai Gallo and Jack Randall. All capitalized terms not defined herein shall have the meanings set forth in the Registration Agreement (as defined below). 

 
 WHEREAS, on December 23, 2002, the parties hereto entered into that
certain Registration Agreement (the “Original Agreement”). 
  
 WHEREAS, on February 2, 2005, the Registration Agreement was amended pursuant to that certain Amendment No. 1 (“Amendment No. 1” and the Original Agreement, as so amended, the “Registration
Agreement”). 
  
 WHEREAS, the Investor is the holder of a
majority of Investor Registrable Securities. 
  
 WHEREAS, pursuant
to Section 2(a) of the Registration Agreement, whenever the Company proposes to register any of its securities under the Securities Act of 1933, as amended, the Company shall give prompt written notice all holders of Registrable Securities of its
intention to effect such a registration. 
  
 WHEREAS, pursuant to
Section 9(d) of the Registration Agreement, the Registration Agreement may be amended and modify by the Company and the holders of a majority of Investor Registrable Securities. 
  
 WHEREAS, the parties hereto desire to amend the Registration Agreement as stated below. 
  
 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 hereto, intending to be legally bound, hereby agree as follows: 
  
 Section 1. Amendment to Section 2(c)(B)(i)(X) of the Registration Agreement. The phrase “sixty percent (60%) of
the number of shares” in Section 2(c)(B)(i)(x) of the Registration Agreement shall be amended to read “sixty seven percent (67%) of the number of shares”. 
  
 Section 2. Amendment to Section 9(d). Section 9(d) is hereby amended to add the following proviso to the end
of the sentence: “provided, however, that notwithstanding anything to the contrary set forth in this Agreement, any and all notice requirements with respect to the IPO may be, and have been, waived.” 
  
 Section 3. Miscellaneous. 
  
 3.01 Continuance of the Registration Agreement. Except as specifically
amended by this Amendment Agreement, the Registration Agreement shall remain in full force and effect. 

 3.02 Counterparts. This Amendment Agreement may be executed in two or more counterparts (including
by use of facsimiled signature pages), any one of which need not contain the signatures of more than one party, but all such counterparts taken together shall constitute one and the same Amendment Agreement. 
  
 3.03 Governing Law. All issues and questions concerning the
construction, validity, enforcement and interpretation of this Amendment Agreement shall be governed by, and construed in accordance with, the laws of the State of Delaware, without giving effect to any choice of law or conflict of law rules or
provisions (whether of the State of Delaware of any other jurisdiction) that would cause the application of the laws of any jurisdiction other than the State of Delaware. 
  
 * * * * * * * * * 
  

 2 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment No. 2 to Rackable Systems, Inc.
Registration Agreement to be signed as of the date first above written. 
  

			
	COMPANY
	
	RACKABLE SYSTEMS, INC.
		
	 By:
	 	 /s/    WILLIAM P. GARVEY

	 Name:
	 	 William P. Garvey

	 Title:
	 	General Counsel, VP of Corporate Development and Secretary
	
	 INVESTOR:

	
	RACKABLE INVESTMENT LLC
		
	 By:
	 	 Parthenon Investors II, L.P. its Manager

	 By:
	 	 PCap Partners II, LLC, its General Partner

	 By:
	 	 PCap II, LLC, its Managing Member

		
	 By:
	 	 /s/    JOHN RUTHERFORD

	 Name:
	 	 John Rutherford

	 Title:
	 	 Managing Member

	
	 /s/    GIOVANNI
COGLITORE

	 Giovanni Coglitore

	
	 /s/    NIKOLAI
GALLO

	 Nikolai Gallo

	
	 /s/    JACK RANDALL

	 Jack Randall

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