Document:

STOCK PURCHASE WARRANT

 Exhibit 4.1 
  
 EXECUTION COPY 
  
 THIS WARRANT WAS ORIGINALLY ISSUED ON NOVEMBER 20, 2003, AND HAS 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 TRANSFER OF THIS WARRANT IS SUBJECT TO THE CONDITIONS SPECIFIED IN SECTION 2 HEREOF AND THE COMPANY
RESERVES THE RIGHT TO REFUSE THE TRANSFER OF THIS WARRANT UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO SUCH TRANSFER 
  
 STOCK PURCHASE WARRANT 
  

			
	 Date of Issuance: November 20, 2003
	 	Certificate No. W-1

  
 For value received,
Corvis Corporation, a Delaware corporation (the “Company”) hereby grants to Cequel III, LLC, a Delaware limited liability company (the “Purchaser”) or any of its permitted purchasers, assignees, pledges or other
transferees (the “Registered Holder”), subject to the prior satisfaction of the terms and conditions set forth herein, the right to purchase from the Company the number of shares of common stock, $0.01 par value per share, of the
Company (the “Common Stock”), at the prices per share (such price as adjusted and readjusted from time to time in accordance with Section 3, the “Exercise Price”), set forth below: 
  

				
	 Number of Shares

	  	Exercise Price

	 5,000,000
	  	$	1.37
	 1,500,000
	  	$	1.75
	 750,000
	  	$	2.25

  
 The amount and kind of
securities purchasable pursuant to the rights granted hereunder and the Exercise Price for such securities are subject to adjustment pursuant to the provisions contained in this Warrant. Certain capitalized terms used herein are defined in
Section 4. 
  
 This Warrant is subject to the following
provisions: 
  
 Section 1. Exercise of Warrant.

  
 (a) Exercise Period. Subject to the prior satisfaction
of the terms and conditions set forth in Section 1(b) and elsewhere herein, the Registered Holder may exercise, in whole or in part, the purchase rights represented by this Warrant at any time and from time to time during the period
commencing on the Date of Issuance, and ending on the seventh anniversary of the Date of Issuance, of this Warrant. If this Warrant remains unexercised, in whole or in part, on the seventh anniversary of the Date of Issuance of this Warrant, this
Warrant or such unexercised part thereof shall terminate. 

 (b) Exercise Procedure. 
  
 (i) This Warrant shall be exercised, to the extent of the number of shares of Common Stock described in
clause (D) below, when the Company has received all of the following items (the “Exercise Time”): 
  
 (A) the original executed copy of this Warrant; 
  

(B) a completed Exercise Agreement, in the form of Exhibit A, which shall be dated the actual date of execution thereof;

  
 (C) if the Registered Holder is not
Purchaser, an Assignment in the form of Exhibit B, evidencing the assignment of this Warrant, and such other documents as may be required under Section 2 of this Warrant; and 
  
 (D) a cashier’s check payable to the Company or a wire transfer of immediately available funds to an
account specified by the Company in an amount equal to the product of the Exercise Price multiplied by the number of shares of Common Stock being purchased upon such exercise. 
  
 (ii) Certificates for shares of Common Stock purchased upon exercise of this Warrant shall be delivered by
the Company to the Registered Holder within three business days after the Exercise Time. Unless this Warrant has expired or all of the purchase rights represented hereby have been exercised, the Company shall prepare a new Warrant, substantially
identical hereto, representing the rights formerly represented by this Warrant which have not expired or been exercised and shall, within such three-day period, deliver such new Warrant to the Registered Holder exercising a portion of the purchase
rights represented by this Warrant and this Warrant shall be canceled. 
  
 (iv) The issuance of certificates for shares of Common Stock upon exercise of this Warrant shall be made without charge to the Registered Holder for costs incurred by the Company in connection with such exercise and
the related issuance of shares of Common Stock, except the Registered Holder shall pay any issuance taxes in respect thereof. 
  
 (vi) The Company shall not close its books against the transfer of this Warrant or of any shares of Common Stock issued or issuable upon a
permitted exercise of this Warrant in any manner that interferes with the timely exercise of this Warrant. The Company shall from time to time take all such action as may be necessary to assure that the par value per share of the unissued Common
Stock issuable upon exercise of this Warrant is at all times equal to or less than the Exercise Price then in effect. 
  
 (vii) The Company shall at all times reserve and keep available out of its authorized but unissued shares of Common Stock solely for the
purpose of issuance upon exercise of this Warrant, such number of shares of Common Stock as are then issuable upon exercise of this Warrant, and any securities issuable with respect to such shares by way of any stock split, stock dividend,
recapitalization or otherwise. All shares of 

  

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Common Stock and any such other securities which are so issuable shall, when issued, be duly and validly issued, and upon payment of the Exercise Price
therefor, shall be fully paid and nonassessable. 
  
 (viii) Upon any exercise of this Warrant, unless the shares of Common Stock issuable upon such exercise have been registered under the Securities Act, the Company may require customary representations from the Registered Holder to assure
that the issuance of the shares of Common Stock hereunder shall not require registration or qualification under the Securities Act or any state securities laws. 
  

Section 2. Restrictions on Transfer. The Registered Holder shall not sell, assign, pledge or otherwise transfer or dispose of
(“Transfer”) any interest in this Warrant or any Underlying Shares unless all of the following conditions are satisfied: 
  
 (a) such Registered Holder and the transferee shall deliver to the Company written notice of the Transfer within five business days after the Transfer and
shall execute an Assignment substantially in the form set forth in Exhibit B, a copy of which shall be delivered to the Company within 30 days after the date of execution of such Assignment; 
  
 (b) such Transfer shall be registered or be exempt from registration under
the Securities Act and any applicable state securities laws, which exemption shall be evidenced by an opinion of legal counsel of national repute in form and substance reasonably satisfactory to the Company or other evidence reasonably satisfactory
to the Company; and 
  
 (c) the total number of transferees may
not exceed ten. 
  
 Section 3. Adjustment of Exercise Price and
Number of Shares. The Exercise Price and the number of shares of Common Stock issuable upon exercise of this Warrant shall be subject to adjustment from time to time as provided in this Section 3. 
  
 (a) Subdivision or Combination of Common Stock. If the Company at any
time subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes of its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in effect immediately prior to such subdivision
shall be proportionately decreased and the number of shares of Common Stock issuable upon exercise of this Warrant shall be proportionately increased. If the Company at any time combines (by reverse stock split or otherwise) one or more classes of
its outstanding shares of Common Stock into a smaller number of shares, the Exercise Price in effect immediately prior to such combination shall be proportionately increased and the number of shares of Common Stock issuable upon exercise of this
Warrant shall be proportionately decreased. 
  
 (f)
Reorganization, Reclassification, Consolidation, Merger or Sale. Any recapitalization, reorganization, reclassification, consolidation, merger, sale of all or substantially all of the Company’s assets or other transaction that is
effected in such a way that holders of Common Stock are entitled to receive (either directly or upon subsequent liquidation) stock, securities or assets with respect to or in exchange for Common Stock is referred to herein as “Organic
Change.” Prior to the consummation of any Organic Change, the Company shall make appropriate provision to ensure that the Registered Holders shall thereafter have the right to 

  

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acquire and receive in lieu of or in addition to (as the case may be) the shares of Common Stock immediately theretofore issuable upon exercise of each
Warrant, such shares of stock, securities or assets as may be issued or payable with respect to or in exchange for the number of shares of Common Stock immediately theretofore issuable upon exercise of each Warrant had such Organic Change not taken
place. 
  
 Section 4. Definitions. The following terms
shall have the meanings set forth herein for the purposes of this Warrant: 
  
 “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations promulgated thereunder. 
  
 “Underlying Shares” means (i) the shares of Common Stock issued or issuable upon exercise
of this Warrant and (ii) any securities issued or issuable with respect to such shares by way of any stock split, stock dividend, recapitalization or otherwise. 
  
 “Warrants” means all Warrants representing portions of the purchase rights represented by
this Warrant held by any Registered Holder. The date the Company initially issues this Warrant shall be deemed to be the “Date of Issuance” of all such Warrants regardless of the number of times new certificates representing the unexpired
and unexercised purchase rights formerly represented by this Warrant shall be issued. 
  
 Section 5. No Voting Rights; Limitations of Liability. This Warrant shall not entitle any Registered Holder to any voting rights or other rights as a stockholder of the Company. 
  
 Section 6. Replacement. Upon receipt of evidence reasonably
satisfactory to the Company of the ownership and the loss, theft, destruction or mutilation of any certificate evidencing this Warrant, and in the case of any such loss, theft or destruction, upon receipt of indemnity reasonably satisfactory to the
Company, or, in the case of any such mutilation upon surrender of such certificate, the Company shall (at its expense) execute and deliver in lieu of such certificate a new certificate of like kind representing the same rights represented by such
lost, stolen, destroyed or mutilated certificate and dated the date of such lost, stolen, destroyed or mutilated certificate. 
  
 Section 7. Notices. Except as otherwise expressly provided hereunder, all notices referred to herein shall be in writing and shall be delivered by
registered or certified mail, return receipt requested and postage prepaid, or by reputable overnight courier service, charges prepaid, and shall be deemed to have been given when so mailed or sent (i) to the Company, at its principal executive
offices, and (ii) to any Registered Holder, at such holder’s address as it appears in the records of the Company (unless otherwise indicated by any such holder). 
  
 Section 8. Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of
Delaware applicable to contracts made and to be fully performed in such State. 
  
 Section 9. Amendment. Except as otherwise provided herein, this Warrant may be amended, modified or supplemented, but only with the written consent of the Company and the written consent of the Registered
Holders representing a majority of the shares of Common Stock issuable upon exercise of the Warrants then outstanding. 
  

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 Section 10. Waiver. Except as otherwise provided herein, no waiver of any condition to be
satisfied by the Company or of any breach of any term, covenant, representation or warranty of the Company contained in this Warrant shall be effective unless the Company has obtained the written consent of the Registered Holders representing a
majority of the shares of Common Stock issuable upon exercise of the Warrants then outstanding. 
  
 Section 11. Severability. Whenever possible, each provision of this Warrant shall be interpreted in such manner as to be effective and valid under
applicable law, but if any provision of this Warrant is held to be prohibited by or invalid under applicable law, such provision shall be ineffective only to the extent of such prohibition or invalidity, without invalidating the remainder of this
Warrant. 
  
 Section 12. Interpretation. The headings in
this Warrant and the headings to Exhibits attached to this Warrant are for convenience of reference only and shall not be deemed part of this Warrant or be given any effect in interpreting this Warrant. Whenever from the context it appears
appropriate, each term stated in either the singular or the plural shall include the singular and the plural, and pronouns stated in either the masculine, the feminine or the neuter gender shall include the masculine, the feminine and the neuter
genders. The use of the terms “including” or “include” shall in all cases mean “including, without limitation” or include, without limitation,” respectively. 
  
 * * * * * 
  

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 IN WITNESS WHEREOF, the Company has caused this Warrant to be executed and attested by its duly
authorized officers and to be dated the Date of Issuance hereof. 
  

			
	 CORVIS CORPORATION

	
	 By:        /s/ KIM D. LARSEN

	 Name:
	 	         Kim D. Larsen

	 Title:
	 	         SVP, Bus. Dev. & General Counsel

  

	
	 Attest:

	
	         Warren Mondschein

	 Asst. Secretary

  

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 Exhibit A 
  
 Exercise Agreement 
  

			
	 To:
	 	 Dated:

  
 The undersigned,
pursuant to the provisions set forth in the attached Warrant (Certificate No. W-            ), hereby subscribes for the purchase of
                 shares of the Common Stock covered by such Warrant and makes payment herewith in full therefor at the price per share provided by such Warrant.

  
 By executing this Exercise Agreement, the undersigned
represents and warrants that (A) it is acquiring such shares of Common Stock for its own account and not with a view to or for sale in connection with any public distribution thereof in violation of the Securities Act of 1933, as amended (the
“Securities Act”), (B) unless such shares have been so registered, it understands that such shares of Common Stock have not been registered under the Securities Act or any state securities laws and cannot be resold without
registration thereunder or exemption therefrom, (C) it has sufficient knowledge and experience in financial and business matters to enable it to evaluate the merits and risks of an investment in such shares of Common Stock and has the ability to
bear the economic risk of acquiring such shares of Common Stock, (D) it has been supplied with, or had access to, information to which a reasonable investor would attach significance in making investment decisions, including, but not limited to, all
information as it has requested, to answer all of its inquiries about the Company, and to enable it to make its decision to acquire such shares of Common Stock, (E) it agrees that it will not transfer all or any portion of such shares of Common
Stock unless such transfer has been registered or is exempt from registration under the Securities Act and any applicable state securities laws (such exemption to be evidenced by an opinion of legal counsel of national repute in form and substance
reasonably satisfactory to the Company or such other evidence as shall be reasonable satisfactory to the Company) and (F) it is an “accredited investor,” as such term is defined in Regulation D promulgated under the Securities Act.

  

	
	 By:

	 Name:

	 Title:

  

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 Exhibit B 
  
 Assignment 
  
 FOR VALUE RECEIVED,
                                        
     hereby sells, assigns and transfers to the Assignee set forth below all of the rights of the undersigned under the attached Warrant (Certificate No.
W-            ) with respect to the number of shares of Common Stock set forth below: 
  

					
	 Name of Assignee

	 	 Address

	 	 No. of Shares

	 Dated:
	 	 	 	 

  

	
	 By:

	 Name:

	 Title:

  
 Assignee hereby
acknowledges receipt of a copy of the Warrant and agrees by the execution hereof to be bound by the terms and conditions contained therein applicable to a Registered Holder. 
  

	
	 By:

	 Name:

	 Title:

  

 8REGISTRATION RIGHTS AGREEMENT

 Exhibit 10.1 
  
 EXECUTION COPY 
  
 REGISTRATION RIGHTS AGREEMENT 
  
 THIS REGISTRATION RIGHTS AGREEMENT (as amended, supplemented or otherwise modified in accordance with the terms herein, this “Agreement”)
is made as of November 20, 2003 by and among Corvis Corporation, a Delaware corporation (the “Company”), and Cequel III, LLC, a Delaware limited liability company (“Cequel”). 
  
 Recitals 
  
 WHEREAS, the Company and Cequel are parties to a Termination and Release Agreement (as amended, supplemented or otherwise
modified in accordance with its terms, the “Termination and Release Agreement”) dated the date hereof which provides for the issuance to Cequel by the Company of shares of its Common Stock (as defined below) and a warrant to
purchase additional shares of Common Stock in the form attached as an exhibit to the Termination and Release Agreement (the “Warrant”); 
  
 WHEREAS, in order to induce Cequel to enter into the Termination and Release Agreement, the Company has agreed to provide the registration rights set
forth in this Agreement for such shares of Common Stock and the shares of Common Stock issuable upon exercise of the Warrant; 
  
 NOW, THEREFORE, the parties hereto agree as follows: 
  
 1. Definitions. As used in this Agreement, the following capitalized defined terms shall have the following meanings: 
  
 “Act” shall mean the Securities Act of 1933, as amended,
and the rules and regulations of the Commission promulgated thereunder. 
  
 “Affiliate” shall have the meaning specified in Rule 405 under the Act and the terms “controlling” and “controlled” shall have meanings correlative thereto. 
  
 “Business Day” shall mean any day other than a Saturday, a
Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized or obligated by law to close in New York City. 
  
 “Commission” shall mean the Securities and Exchange Commission. 
  
 “Common Stock” shall mean the common stock, par value $0.01 per share, of the Company. 
  
 “Deferral Period” shall have the meaning indicated in
Section 3(h). 

 “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the Commission promulgated thereunder. 
  
 “Losses” shall have the meaning set forth in Section 5(d). 
  
 “Notice and Questionnaire” shall mean a written notice delivered to the Company substantially in the form attached as Annex A hereto. 
  
 “Notice Holder” shall mean, on any date, any holder of
Registrable Securities that has delivered a Notice and Questionnaire to the Company on or prior to such date. 
  
 “Prospectus” shall mean a prospectus included in the Shelf Registration Statement (including, without limitation, a prospectus that
discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A under the Act), as amended or supplemented by any prospectus supplement, with respect to the terms of the
offering of any portion of the Registrable Securities covered by the Shelf Registration Statement, and all amendments and supplements thereto, including any and all exhibits thereto and any information incorporated by reference therein. 

 
 “Registrable Securities” shall mean (i) all shares of
Common Stock issued pursuant to the Termination and Release Agreement, (ii) all shares of Common Stock issuable upon exercise of the Warrant and (iii) any securities of the Company or its successors issued or issuable with respect to the Warrant or
any shares referred to in clause (ii) above, whether by way of stock split, stock dividend, recapitalization or otherwise, in each case other than those that have been (A) registered under the Shelf Registration Statement and disposed of in
accordance therewith or (B) distributed to the public pursuant to Rule 144 under the Act or any successor rule or regulation thereto that may be adopted by the Commission. 
  
 “Shelf Registration Period” shall have the meaning set forth in Section 2(c) hereof. 
  
 “Shelf Registration Statement” shall mean a
“shelf” registration statement of the Company pursuant to the provisions of Section 2 hereof which covers all of the Registrable Securities on an appropriate form under Rule 415 under the Act, or any similar rule that may be adopted
by the Commission, amendments and supplements to such registration statement, including post-effective amendments, in each case including the Prospectus contained therein, all exhibits thereto and all material incorporated by reference therein.

  
 “Termination and Release Agreement” shall
have the meaning set forth in the recitals hereto. 
  
 “Warrant” shall have the meaning set forth in the recitals hereto. 
  
 2. Shelf Registration. (a) The Company shall as promptly as practicable (but in no event (i) prior to the effectiveness with the Commission of its Registration Statement No. 333-109081 which is currently on
file with the Commission or (ii) later than five (5) Business 

  

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Days after such Registration Statement becomes effective) file with the Commission a Shelf Registration Statement providing for the registration of, and the
sale on a continuous or delayed basis by the holders of, all of the Registrable Securities, from time to time in accordance with the methods of distribution elected by such holders (which shall not include an underwritten offering), pursuant to Rule
415 under the Act or any similar rule that may be adopted by the Commission. 
  
 (b) The Company shall use reasonable best efforts to cause the Shelf Registration Statement to become or be declared effective under the Act as soon as practicable following the date on which it is filed. 

 
 (c) The Company shall use reasonable best efforts to keep the Shelf
Registration Statement continuously effective, supplemented and amended as required by the Act, in order to permit the Prospectus forming part thereof to be usable by holders for a period from the date the Shelf Registration Statement is declared
effective by the Commission until the earlier of (i) the seventh anniversary of the date hereof; (ii) the date on which all the Registrable Securities may be sold by non-affiliates of the Company pursuant to paragraph (k) of Rule 144 (or any
successor provision) promulgated by the Commission under the Act; (iii) the date as of which all the Registrable Securities have been sold under Rule 144 under the Act (or any similar provision then in force) and (iv) the date as of which all the
Registrable Securities have been sold pursuant to the Shelf Registration Statement (the “Shelf Registration Period”). 
  
 (d) Each holder of Registrable Securities agrees to deliver a Notice and Questionnaire to the Company at least seven (7) Business Days prior to any
distribution by it of Registrable Securities under the Shelf Registration Statement. From and after the date the Shelf Registration Statement is declared effective, the Company shall, as promptly as is practicable after the date a Notice and
Questionnaire is delivered, and in any event within the later of seven (7) Business Days after such date, or seven (7) Business Days after the expiration of any Deferral Period in effect when the Notice and Questionnaire are delivered or which comes
into effect within seven (7) Business Days of such delivery: (i) if required by applicable law, file with the Commission a post-effective amendment to the Shelf Registration Statement or prepare and, if required by applicable law, file a supplement
to the related Prospectus or an amendment or supplement to any document incorporated therein by reference or file any other required document so that the holder delivering such Notice and Questionnaire is named as a selling holder in the Shelf
Registration Statement and the related Prospectus and so that such holder is permitted to deliver such Prospectus to purchasers of the Registrable Securities in accordance with applicable law and, if the Company shall file a post-effective amendment
to the Shelf Registration Statement, use commercially reasonable efforts to cause such post-effective amendment to be declared effective under the Act as promptly as is practicable; (ii) provide such holder copies of any documents filed pursuant to
Section 2(d)(i) hereof; and (iii) notify such holder as promptly as practicable after the effectiveness under the Act of any post-effective amendment filed pursuant to Section 2(d)(i) hereof; provided, that if such Notice and
Questionnaire is delivered during a Deferral Period, the Company shall so inform the holder delivering such Notice and Questionnaire and shall take the actions set forth in clauses (i), (ii) and (iii) above upon expiration of the Deferral Period in
accordance with Section 3(h). 

  

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Notwithstanding anything contained herein to the contrary, the Company shall be under no obligation to name any holder that is not a Notice Holder as a
selling holder in the Shelf Registration Statement or related Prospectus; provided, however, that any holder that becomes a Notice Holder pursuant to the provisions of this Section 2(d) (whether or not such holder was a Notice
Holder at the time the Shelf Registration Statement was declared effective) shall be named as a selling holder in the Shelf Registration Statement or related Prospectus in accordance with the requirements of this Section 2(d). 
  
 3. Registration Procedures. The following provisions shall apply in
connection with the Shelf Registration Statement: 
  
 (a) The
Company shall include information regarding the Notice Holders and the methods of distribution they have elected for their Registrable Securities provided to the Company in Notices and Questionnaires as necessary to permit such distribution by the
methods specified therein. 
  
 (b) The Company shall advise the
Notice Holders that have provided in writing to the Company a telephone or facsimile number and address for notices (which notice pursuant to clauses (ii)-(v) below shall be accompanied by an instruction to suspend the use of the Prospectus until
the Company shall have remedied the basis for such suspension): 
  
 (i) when the Shelf Registration Statement and any amendment thereto has been filed with the Commission and when the Shelf Registration Statement or any post-effective amendment thereto has become effective;

  
 (ii) of any request by the Commission for any
amendment or supplement to the Shelf Registration Statement or the Prospectus or for additional information; 
  
 (iii) of the issuance by the Commission of any stop order suspending the effectiveness of the Shelf Registration Statement or the receipt
by the Company of notice from the Commission of the institution or threatening of any proceeding for that purpose; 
  
 (iv) of the receipt by the Company of any notification with respect to the suspension of the qualification of the Registrable Securities
included therein for sale in any jurisdiction, or the receipt by the Company of notice from the applicable governmental authority of the institution or threatening of any proceeding for such purpose; and 
  
 (v) of the happening of any event that requires any change
in the Shelf Registration Statement or the Prospectus so that, as of such date, it (A) does not contain any untrue statement of a material fact and (B) does not omit to state a material fact required to be stated therein or necessary to make the
statements therein (in the case of the Prospectus, in the light of the circumstances under which they were made) not misleading. 
  

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 (c) The Company shall use reasonable best efforts to prevent the issuance of any order suspending the
effectiveness of the Shelf Registration Statement or the qualification of the Registrable Securities therein for sale in any jurisdiction and, if issued, to obtain as soon as possible the withdrawal thereof. 
  
 (d) The Company shall furnish to each Notice Holder, without charge, at least
one copy of the Shelf Registration Statement and any post-effective amendment thereto, and, if a Notice Holder so requests in writing, all exhibits thereto (other than exhibits incorporated by reference therein). 
  
 (e) During the Shelf Registration Period, the Company shall promptly deliver
to each Notice Holder, without charge, as many copies of the Prospectus (including the preliminary Prospectus) included in the Shelf Registration Statement and any amendment or supplement thereto as any such person may reasonably request. The
Company consents to the use of the Prospectus or any amendment or supplement thereto by each of the foregoing in connection with the offering and sale of the Registrable Securities except during any Deferral Period. 
  
 (f) Prior to any offering of Registrable Securities pursuant to the Shelf
Registration Statement, the Company shall use reasonable best efforts to register or qualify the Registrable Securities for sale under the laws of such jurisdictions as any Notice Holder shall reasonably request in writing and shall maintain such
qualification in effect the Registration Period; provided that in no event shall the Company be obligated to qualify to do business as a foreign corporation or a dealer in securities in any jurisdiction where it is not then so qualified or to take
any action that would subject it to service of process in suits, other than those arising out of any offering pursuant to the Shelf Registration Statement, or taxes in any jurisdiction where it is not then so subject. 
  
 (g) Upon the occurrence of any event contemplated by Sections 3(b)(ii)
through (v) above, the Company shall promptly (or within the time period provided for by Section 3(h), if applicable) prepare a post-effective amendment to the Shelf Registration Statement or an amendment or supplement to the related
Prospectus or file any other required document so that, as thereafter delivered to the holders of the Registrable Securities included therein, the Prospectus will not include an untrue statement of a material fact or omit to state any material fact
required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. 
  
 (h) Upon the occurrence or existence of any material event that, in the good faith judgment of the management of the Company, makes it necessary to
suspend the availability of the Shelf Registration Statement and the related Prospectus because the continuing availability of the Shelf Registration Statement and the related Prospectus would adversely affect a pending or proposed significant
corporate event, or negotiations, discussions or pending proposals with respect thereto, or would require the disclosure of material non-public information that, in the good faith judgment of the management of the Company, would have a material
adverse effect on the Company and its subsidiaries taken as a whole, the Company shall have the right, exercisable upon written notice as set forth below, but not more than twice in any 

  

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twelve–month period or for any period greater than 90 days from the date of such written notice, to suspend the availability of the Shelf Registration.
The Company shall give notice (without notice of the nature or details of such events) to the Notice Holders that the availability of the Shelf Registration is suspended and, upon actual receipt of any such notice, each Notice Holder agrees not to
sell any Registrable Securities pursuant to the Shelf Registration until such Notice Holder’s receipt of copies of the supplemented or amended Prospectus provided for in Section 3(h), or until it is advised in writing by the Company that
the Prospectus may be used, and has received copies of any additional or supplemental filings that are incorporated or deemed incorporated by reference in such Prospectus (such period being the “Deferral Period”). 
  
 (i) The Company may require each holder of Registrable Securities to be sold
pursuant to the Shelf Registration Statement to furnish to the Company such information regarding the holder and the distribution of such Registrable Securities as the Company may from time to time reasonably require for inclusion in the Shelf
Registration Statement. The Company may exclude from the Shelf Registration Statement the Registrable Securities of any holder that unreasonably fails to furnish such information within a reasonable time after receiving such request. 
  
 (j) The Company will use reasonable best efforts to cause the Registrable
Securities to be included on the Nasdaq National Market or other stock exchange or trading system on which the Common Stock primarily trades on or prior to the effective date of any Shelf Registration Statement hereunder. 
  
 4. Registration Expenses. The Company shall bear all expenses incurred
in connection with the performance of its obligations under Sections 2 and 3. 
  
 5. Indemnification and Contribution. (a) The Company agrees to indemnify and hold harmless each holder of Registrable Securities covered by the Shelf Registration Statement, the directors, officers, employees,
Affiliates and agents of each such holder and each person who controls any such holder within the meaning of either the Act or the Exchange Act against any and all losses, claims, damages or liabilities, joint or several, to which they or any of
them may become subject under the Act, the Exchange Act or other federal or state statutory law or regulation, at common law or otherwise, insofar as such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are
based upon any untrue statement or alleged untrue statement of a material fact contained in the Shelf Registration Statement as originally filed or in any amendment thereof, or in any preliminary Prospectus or the Prospectus, or in any amendment
thereof or supplement thereto, or arise out of or are based upon the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein (in the case of any preliminary Prospectus
or the Prospectus, in the light of the circumstances under which they were made) not misleading, and agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses reasonably incurred by it in connection with
investigating or defending any such loss, claim, damage, liability or action; provided, however, that the Company will not be liable in any such case to the extent that any such loss, claim, damage or liability arises out of or is
based upon any such untrue statement or alleged untrue statement or omission or alleged omission made therein in reliance upon and in 

  

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conformity with written information furnished to the Company by or on behalf of the party claiming indemnification specifically for inclusion therein. This
indemnity agreement shall be in addition to any liability that the Company may otherwise have. 
  
 (b) Each holder of securities covered by the Shelf Registration Statement severally and not jointly agrees to indemnify and hold harmless the Company, each of its directors, each of its officers who signs the Shelf
Registration Statement and each person who controls the Company within the meaning of either the Act or the Exchange Act, to the same extent as the foregoing indemnity from the Company to each such holder, but only if the statement or omission was
made in reliance upon and in conformity with written information relating to such holder furnished to the Company by or on behalf of such holder specifically for inclusion in the applicable document referred to in the foregoing indemnity. This
indemnity agreement shall be acknowledged by each Notice Holder in such Notice Holder’s Notice and Questionnaire and shall be in addition to any liability that any such Notice Holder may otherwise have. 
  
 (c) Promptly after receipt by an indemnified party under this Section
5 or notice of the commencement of any action, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying party under this Section 5, notify the indemnifying party in writing of the
commencement thereof; but the failure so to notify the indemnifying party (i) will not relieve it from liability under paragraph (a) or (b) above unless and to the extent it did not otherwise learn of such action and such failure results in the
forfeiture by the indemnifying party of substantial rights and defenses; and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other than the indemnification obligation provided in paragraph
(a) or (b) above. The indemnifying party shall be entitled to appoint counsel (including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to represent the indemnified party in any action for which
indemnification is sought (in which case the indemnifying party shall not thereafter be responsible for the fees and expenses of any separate counsel, other than local counsel if not appointed by the indemnifying party, retained by the indemnified
party or parties except as set forth below). Notwithstanding the indemnifying party’s election to appoint counsel (including local counsel) to represent the indemnified party in an action, the indemnified party shall have the right to employ
separate counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would
present such counsel with a conflict of interest; (ii) the indemnifying party shall not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after notice of the
institution of such action; (iii) the named parties to any such action (including any impleaded parties) include such indemnified party and the indemnifying party, and such indemnified party shall have been advised by counsel that there is or would
be a conflict of interest between such indemnified party and the indemnifying party in the conduct of the defense of such action (in which case, if such indemnified party notifies the indemnifying party in writing that it elects to employ separate
counsel at the indemnifying party’s expense, the indemnifying party shall not assume the defense of such action on such indemnified party’s behalf); or (iv) the indemnifying party shall authorize the indemnified party to employ separate

  

 7 

 
counsel at the expense of the indemnifying party. An indemnifying party will not, without the prior written consent of the indemnified parties, settle or
compromise or consent to the entry of any judgment with respect to any pending or threatened claim, action, suit or proceeding in respect of which indemnification or contribution may be sought hereunder unless such settlement, compromise or consent
includes an unconditional release of each indemnified party from all liability arising out of such claim, action, suit or proceeding. 
  
 (d) In the event that the indemnity provided in paragraph (a) or (b) of this Section 5 is unavailable to or insufficient to hold harmless an
indemnified party for any reason, then each applicable indemnifying party shall have a joint and several obligation to contribute to the aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably incurred in
connection with investigating or defending loss, claim, liability, damage or action) (collectively, “Losses”) to which such indemnified party may be subject in such proportion as is appropriate to reflect the relative fault of such
indemnifying party, on the one hand, and such indemnified party, on the other hand, in connection with the statements or omissions that resulted in such Losses. Relative fault shall be determined by reference to, among other things, whether any
untrue or any alleged untrue statement of a material fact or omission or alleged omission to state a material fact relates to information provided by the indemnifying party, on the one hand, or by the indemnified party, on the other hand, the intent
of the parties and their relative knowledge, access to information and opportunity to correct or prevent such untrue statement or omission. Notwithstanding the provisions of this paragraph (d), no person guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section 5, each person who controls a holder within the
meaning of either the Act or the Exchange Act and each director, officer, employee and agent of such holder shall have the same rights to contribution as such holder, and each person who controls the Company within the meaning of either the Act or
the Exchange Act, each officer of the Company who shall have signed the Shelf Registration Statement and each director of the Company shall have the same rights to contribution as the Company, subject in each case to the applicable terms and
conditions of this paragraph (d). 
  
 (e) The provisions of this
Section 5 shall remain in full force and effect, regardless of any investigation made by or on behalf of any holder or the Company or any of the indemnified persons referred to in this Section 5, and shall survive the
sale by a holder of securities covered by the Shelf Registration Statement. 
  
 6. Amendments and Waivers. The provisions of this Agreement may not be amended, qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the
Company has obtained the written consent of the holders of a majority of the aggregate original principal amount of the Registrable Securities outstanding; provided that no amendment, qualification, supplement, waiver or consent with respect
to Section 5 hereof shall be effective as against any holder of Registrable Securities unless consented to in writing by such holder; and provided, further, that the provisions of this Section 6 may not be amended,
qualified, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, unless the Company has obtained the written consent of each holder. 
  

 8 

 7. Notices. All notices and other communications provided for or permitted hereunder shall be made
in writing by hand-delivery, first-class mail, telex, telecopier or air courier guaranteeing overnight delivery: 
  
 (a) if to a holder, at the most current address given by such holder to the Company in accordance with the provisions of the Notice and Questionnaire,
which address initially is, with respect to each holder, the address of such holder maintained by the Company; and 
  
 (b) if to the Company, to: 
  
 Corvis Corporation 
 7015 Albert Einstein
Drive 
 Columbia, Maryland 21046-9400 
 Attention: Kim Larsen 
 Phone: (443) 259-4000 
 Facsimile: (443) 259-4417 
  
 (c)
All such notices and communications shall be deemed to have been duly given when received. 
  
 The Company by notice to the other parties may designate additional or different addresses for subsequent notices or communications. 
  
 8. Successors. This Agreement shall inure to the benefit of and be binding upon the parties hereto, their respective
successors and assigns, including, without the need for an express assignment or any consent by the Company thereto, subsequent holders of Registrable Securities, and the indemnified persons referred to in Section 5 hereof. The Company hereby
agrees to extend the benefits of this Agreement to any holder of Registrable Securities, and any such holder may specifically enforce the provisions of this Agreement as if an original party hereto. 
  
 9. Counterparts. This Agreement may be signed in one or more
counterparts, each of which shall constitute an original and all of which together shall constitute one and the same agreement. 
  
 10. Headings. The section headings used herein are for convenience only and shall not affect the construction hereof. 
  
 11. Applicable Law. This Agreement shall be governed by and construed
in accordance with the laws of the State of New York applicable to contracts made and to be performed in the State of New York. The parties hereto each hereby waive any right to trial by jury in any action, proceeding or counterclaim arising out of
or relating to this Agreement. 
  

 9 

 12. Severability. In the event that any one of more of the provisions contained herein, or the
application thereof in any circumstances, is held invalid, illegal or unenforceable in any respect for any reason, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions hereof shall
not be in any way impaired or affected thereby, it being intended that all of the rights and privileges of the parties shall be enforceable to the fullest extent permitted by law. 
  

 10 

 IN WITNESS WHEREOF, each party has caused this Agreement to be duly executed on its behalf by its duly
authorized officers as of the date first written above. 
  

			
	 CORVIS CORPORATION

		
	 By:
	 	         /s/ KIM D.LARSEN

	 	 	 Name: Kim D. Larsen

	 	 	 Title: SVP, Bus. Dev. & General Counsel

	
	 CEQUEL III LLC

		
	 By:
	 	         /s/ MARTIN KERCKHOFF

	 	 	 Name: Martin Kerckhoff

	 	 	 Title: EVP & General Counsel

  
  

 11 

 ANNEX A 
  
 FORM OF SELLING SECURITYHOLDER NOTICE AND QUESTIONNAIRE 
  
 The undersigned beneficial holder of Registrable Securities of Corvis Corporation (the “Company”) understands that
the Company has filed or intends to file with the Securities and Exchange Commission (the “Commission”) a registration statement on Form S-3 (the “Shelf Registration Statement”) for the registration and resale under Rule 415 of
the Securities Act of 1933, as amended (the “Securities Act”), of the Registrable Securities in accordance with the terms of the Registration Rights Agreement (the “Registration Rights Agreement”) dated as of November 20, 2003
between the Company and Cequel III. The Registration Rights Agreement is available from the Company upon request at the address set forth below. All capitalized terms not otherwise defined herein shall have the meaning ascribed thereto in the
Registration Rights Agreement. 
  
 Each beneficial owner of
Registrable Securities is entitled to the benefits of the Registration Rights Agreement. In order to sell or otherwise dispose of any Registrable Securities pursuant to the Shelf Registration Statement, a beneficial owner of Registrable Securities
generally will be required to be named as a selling securityholder in the related prospectus, deliver a prospectus to purchasers of Registrable Securities and be bound by those provisions of the Registration Rights Agreement applicable to such
beneficial owner (including certain indemnification provisions as described below). Beneficial owners that do not complete this Notice and Questionnaire and deliver it to the Company as provided below will not be named as selling securityholders in
the prospectus and therefore will not be permitted to sell any Registrable Securities pursuant to the Shelf Registration Statement. 
  
 Certain legal consequences may arise from being named as selling securityholders in the Shelf Registration Statement and the related prospectus.
Accordingly, holders and beneficial owners of Registrable Securities are advised to consult their own securities law counsel regarding the consequences of being named or not being named as a selling securityholder in the Shelf Registration Statement
and the related prospectus. 
  
 Notice 
  
 The undersigned beneficial owner (the “Selling Securityholder”) of
Registrable Securities hereby gives notice to the Company of its intention to sell or otherwise dispose of Registrable Securities beneficially owned by it and listed below in Item 3 (unless otherwise specified under Item 3) pursuant to the Shelf
Registration Statement. The undersigned, by signing and returning this Notice and Questionnaire, understands that it will be bound by the terms and conditions of this Notice and Questionnaire and the Registration Rights Agreement. 
  

 A-1 

 The undersigned hereby provides the following information to the Company and represents and warrants that
such information is accurate and complete: 
  
 Questionnaire

  

	 	1.	(a)        Full Legal Name of Selling Securityholder: 

  

	 	(b)	Full legal name of Registered Holder (if not the same as (a) above) through which Registrable Securities listed in (3) below are held: 

  

	 	(c)	Full legal name of broker-dealer or other third party through which Registrable Securities listed in (3) below are held: 

  

	 	(d)	Full legal name of DTC Participant (if applicable and if not the same as (b) or (c) above) through which Registrable Securities listed in (3) below are held:

  

	 	2.	Address for Notices to Selling Securityholder: 

  

					
	 	 	 Telephone:

		
	 	 	 Fax:

		
	 	 	 Contact Person:

  

	 	3.	Beneficial Ownership of Registrable Securities: 

  
 Warrants and amount of Registrable Securities beneficially owned: 
  
 Unless otherwise indicated in the space provided below, all shares of common stock listed in response to Item (3)(a)
above, and all shares of common stock issuable upon exercise of the Warrants listed in response to Item (3)(a) above, will be included in the Shelf Registration Statement. If the undersigned does not wish all such shares of common stock to be so
included, please indicate below the principal amount or the number of shares to be included: 
  

	 	4.	Beneficial Ownership of the Company’s securities owned by the Selling Securityholder: 

  
 Except as set forth below in this Item (4), the undersigned is not the beneficial or registered owner of any securities
of Corvis Corporation other than the Registrable Securities listed above in Item (3). 
  

	 	(a)	Type and Amount of other securities beneficially owned by the Selling Securityholder: 

  

	 	(b)	CUSIP No(s). of such other securities beneficially owned: 

  

	 	5.	Relationship with the Company: 

  
 Except as set forth below, neither the undersigned nor any of its affiliates, directors or principal equity holders (5% or more) has held any position
or office or has had any other material relationship with the Company (or its predecessors or affiliates) during the past three years. 
  

 A-2 

 State any exceptions here: 
  
 The undersigned acknowledges that it understands its obligation to comply with the provisions of the Securities Exchange Act
of 1934, as amended, and the rules thereunder relating to stock manipulation, particularly Regulation M thereunder (or any successor rules or regulations) and the provisions of the Securities Act of 1933, as amended, relating to prospectus delivery,
in connection with any offering of Registrable Securities pursuant to the Shelf Registration Statement. The undersigned agrees that neither it nor any person acting on its behalf will engage in any transaction in violation of such provisions.

  
 The Selling Securityholder hereby acknowledges its obligations
under the Registration Rights Agreement to indemnify and hold harmless certain persons set forth therein. 
  
 Pursuant to the Registration Rights Agreement, the Company has agreed under certain circumstances to indemnify the Selling Securityholders against certain
liabilities. 
  
 In accordance with the undersigned’s
obligation under the Registration Rights Agreement to provide such information as maybe required by law for inclusion in the Shelf Registration Statement, the undersigned agrees to promptly notify the Company of any inaccuracies or changes in the
information provided herein that may occur subsequent to the date hereof at any time while the Shelf Registration Statement remains effective. All notices hereunder and pursuant to the Registration Rights Agreement shall be made in writing at the
address set forth below. 
  
 In the event any Selling
Securityholder transfers all or any portion of the Registrable Securities listed in Item (3) above after the date on which such information is provided to the Company, the Selling Securityholder will notify the transferees at the time of transfer of
its rights and obligations under this Notice and Questionnaire and the Registration Rights Agreement. 
  
 By signing below, the undersigned consents to the disclosure of the information contained herein in its answers to items (1) through (5) above and the
inclusion of such information in the Shelf Registration Statement and the related prospectus. The undersigned understands that such information will be relied upon by the Company without independent investigation or inquiry in connection with the
preparation or amendment of the Shelf Registration Statement and the related prospectus. 
  
 IN WITNESS WHEREOF, the undersigned, by authority duly given, has caused this Notice and Questionnaire to be executed and delivered either in person or by its authorized agent. 
  

			
	 Beneficial Owner:

		
	 By:
	 	  

	 	 	 Name:

	 	 	 Title:

  
 Dated:

  

 A-3 

 PLEASE RETURN THE COMPLETED AND EXECUTED NOTICE AND QUESTIONNAIRE TO: 
  
 Corvis Corporation 
 7015 Albert Einstein Drive 
 Columbia, Maryland 21046-9400 
 Attention: General Counsel 
  

 A-4

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