Document:

exv10w4w1

 

EXHIBIT 10.4.1

Addendum to Restated Employment Agreement

of Clarence W. Schawk

     This Agreement made and entered into this 9th day of March, 1998 between Schawk, Inc., a
Delaware Corporation (hereinafter referred to as the “Corporation”), and Clarence W. Schawk
(hereinafter referred to as the “Employee”),

     Whereas, the Employee and the Corporation entered into a certain agreement on June 1, 1983
related to Employee providing continuing services to the Corporation; and

     Whereas, such agreement was restated into a certain Restated Employee Agreement dated as of
October 1, 1994; and

     Whereas, the Corporation and Employee recognize that there was an oversight in the
documentation of the terms of such restatement.

     Now Therefore, it is agreed as follows:

     1. That Section 9 of the October 1, 1994 Restated Employment Agreement is modified to read as
follows:

     The parties acknowledge that subject to paragraph 2 below, the Deferred Compensation Agreement
dated June 1, 1983, is hereby ratified and included herein as Exhibit A and shall continue in full
force and effect.

     2. That the first sentence of paragraph 2 of the Deferred Compensation Agreement between the
parties dated June 1, 1983 is modified to read as follows:

     “After the Employee’s retirement from active employment, as set forth below, the Corporation
shall pay to him a monthly deferred compensation in an amount equal to 50% of his monthly salary
based on a $225,000.00 annual salary.”

     3. The balance of the Deferred Compensation and Restated Employment Agreements shall remain
unchanged and in full force and effect.

     In Witness Whereof, the parties hereto have executed this Agreement on the 9th day of March,
1998.

	 	 	 	 	 
	 	 	Schawk, Inc.
	 
	/s/Clarence W. Schawk
	 	By:	 	/s/A. Alex Sarkisian
	 	 	 	 	 
	Clarence W. Schawkexv10w1

 

Exhibit 10.1

STOCK PURCHASE AGREEMENT

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	1.	 	PURCHASE AND SALE OF COMMON STOCK	 	 	1	 
	 
	 	 	 	 	 	 	 	 
	 
	 	1.1	 	Sale and Issuance of Common Stock	 	 	1	 
	 
	 	1.2	 	Closing; Delivery	 	 	1	 
	 
	 	1.3	 	Sale of Milestone Shares of Common Stock	 	 	2	 
	 
	 	1.4	 	Use of Proceeds	 	 	2	 
	 
	 	1.5	 	Defined Terms Used in this Agreement	 	 	3	 
	 
	 	 	 	 	 	 	 	 
	2.	 	REPRESENTATIONS AND WARRANTIES OF THE COMPANY	 	 	4	 
	 
	 	 	 	 	 	 	 	 
	 
	 	2.1	 	Organization, Good Standing, Corporate Power and Qualification	 	 	4	 
	 
	 	2.2	 	Capitalization	 	 	4	 
	 
	 	2.3	 	Subsidiaries	 	 	4	 
	 
	 	2.4	 	Authorization	 	 	4	 
	 
	 	2.5	 	Valid Issuance of Shares	 	 	5	 
	 
	 	2.6	 	Governmental Consents and Filings	 	 	5	 
	 
	 	2.7	 	Litigation	 	 	5	 
	 
	 	2.8	 	Intellectual Property	 	 	5	 
	 
	 	2.9	 	Compliance with Other Instruments	 	 	6	 
	 
	 	2.10	 	Agreements; Actions	 	 	6	 
	 
	 	2.11	 	Rights of Registration and Voting Rights	 	 	7	 
	 
	 	2.12	 	Absence of Liens	 	 	7	 
	 
	 	2.13	 	Material Liabilities	 	 	7	 
	 
	 	2.14	 	Changes	 	 	7	 
	 
	 	2.15	 	Employee Matters	 	 	8	 
	 
	 	2.16	 	Corporate Documents	 	 	8	 
	 
	 	2.17	 	Disclosure	 	 	8	 
	 
	 	 	 	 	 	 	 	 
	3.	 	REPRESENTATIONS AND WARRANTIES OF THE PURCHASERS	 	 	8	 
	 
	 	 	 	 	 	 	 	 
	 
	 	3.1	 	Authorization	 	 	8	 
	 
	 	3.2	 	Purchase Entirely for Own Account	 	 	8	 
	 
	 	3.3	 	Disclosure of Information	 	 	9	 
	 
	 	3.4	 	Restricted Securities	 	 	9	 
	 
	 	3.5	 	Risk Factors	 	 	9	 
	 
	 	3.6	 	No Public Market	 	 	9	 

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TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	3.7	 	Legends	 	 	9	 
	 
	 	3.8	 	Accredited Investor	 	 	10	 
	 
	 	3.9	 	Foreign Investors	 	 	10	 
	 
	 	3.10	 	No General Solicitation	 	 	10	 
	 
	 	3.11	 	Exculpation Among Purchasers	 	 	10	 
	 
	 	3.12	 	Residence	 	 	10	 
	 
	 	 	 	 	 	 	 	 
	4.	 	CONDITIONS TO THE PURCHASERS’ OBLIGATIONS AT INITIAL CLOSING	 	 	10	 
	 
	 	 	 	 	 	 	 	 
	 
	 	4.1	 	Representations and Warranties	 	 	10	 
	 
	 	4.2	 	Performance	 	 	10	 
	 
	 	4.3	 	Compliance Certificate	 	 	11	 
	 
	 	4.4	 	Qualifications	 	 	11	 
	 
	 	4.5	 	Investors’ Rights Agreement	 	 	11	 
	 
	 	4.6	 	Shareholders Agreement	 	 	11	 
	 
	 	4.7	 	Articles	 	 	11	 
	 
	 	4.8	 	Officer’s Certificate	 	 	11	 
	 
	 	4.9	 	Proceedings and Documents	 	 	11	 
	 
	 	4.10	 	Securities Laws and Regulations	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	5.	 	CONDITIONS OF THE COMPANY’S OBLIGATIONS AT INITIAL
CLOSING	 	 	11	 
	 
	 	 	 	 	 	 	 	 
	 
	 	5.1	 	Representations and Warranties	 	 	11	 
	 
	 	5.2	 	Performance	 	 	11	 
	 
	 	5.3	 	Qualifications	 	 	12	 
	 
	 	5.4	 	Investors’ Rights Agreement	 	 	12	 
	 
	 	5.5	 	Shareholders Agreement	 	 	12	 
	 
	 	 	 	 	 	 	 	 
	6.	 	CONDITIONS OF THE 2ND AND 3RD TRANCHE CLOSINGS	 	 	12	 
	 
	 	 	 	 	 	 	 	 
	7.	 	MISCELLANEOUS	 	 	12	 
	 
	 	 	 	 	 	 	 	 
	 
	 	7.1	 	Survival of Warranties	 	 	12	 
	 
	 	7.2	 	Successors and Assigns	 	 	12	 
	 
	 	7.3	 	Governing Law	 	 	12	 
	 
	 	7.4	 	Counterparts; Facsimile	 	 	12	 
	 
	 	7.5	 	Titles and Subtitles	 	 	12	 

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TABLE OF CONTENTS

(continued)

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Page	 
	 
	 	7.6	 	Notices	 	 	13	 
	 
	 	7.7	 	Amendments and Waivers	 	 	13	 
	 
	 	7.8	 	Severability	 	 	13	 
	 
	 	7.9	 	Delays or Omissions	 	 	13	 
	 
	 	7.10	 	Entire Agreement	 	 	13	 
	 
	 	7.11	 	Dispute Resolution	 	 	13	 

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STOCK PURCHASE AGREEMENT

     THIS STOCK PURCHASE AGREEMENT (this “Agreement”) is made as of the 25th day of
April, 2008, by and among Compact Particle Acceleration Corporation, a Wisconsin corporation (the
“Company”), TomoTherapy Incorporated, a Wisconsin corporation (“TomoTherapy”), and the investors
listed on Exhibit A attached to this Agreement (each a “Purchaser” and together the “Purchasers”).

     The parties hereby agree as follows:

     1. Purchase and Sale of Common Stock.

          1.1 Sale and Issuance of Common Stock.

               (a) The Company shall adopt and file with the State of Wisconsin Department of Financial
Institutions on or before the Initial Closing (as defined in Section 1.2 below) the Amended and
Restated Articles of Incorporation in the form of Exhibit B attached to this Agreement (the
“Articles”).

               (b) Subject to the terms and conditions of this Agreement, each Purchaser agrees to purchase
at the Initial Closing, and the Company agrees to sell and issue to each Purchaser a party hereto
at such time at the Initial Closing, that number of shares of the Company’s Series A Common Stock,
$0.001 par value per share (the “Series A Common Stock”), and that number of shares of the
Company’s Series B Common Stock, $0.001 par value per share (the “Series B Common Stock”), set
forth opposite each such Purchaser’s name on Exhibit hereto under the heading “Initial Shares,” at
a purchase price of $1.00 per share for the Series A Common Stock and $0.57 per share for the
Series B Common Stock.

               (c) After the Initial Closing, the Company may sell, pursuant to this Agreement, additional
shares of Series A Common Stock or Series B Common Stock in this first tranche (the “Additional
Sales”) to one or more purchasers (the “Additional Purchasers”), provided that (i) each such
subsequent Additional Sale is consummated on or prior to September 1, 2008, (ii) all Shares sold
pursuant to Additional Sales are sold at the same price as shares of the same series, as set forth
in Section 1.1(b) of this Agreement, and (iii) each Additional Purchaser, if not already so, shall
become a party to the Transaction Agreements by executing and delivering a counterpart signature
page to each of the Transaction Agreements, or a joinder agreement thereto, and upon such execution
and delivery shall become a “Purchaser” hereunder. Exhibit to this Agreement shall be updated to
reflect the number of Shares purchased pursuant to Additional Sales by the Additional Purchasers.

          1.2 Closing; Delivery.

               (a) The initial purchase and sale of Shares pursuant to Section 1.1(b) shall take place
remotely via the exchange of documents and signatures, at 10:00 a.m. Central

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Time, on April 25,
2008, or at such other time and place as the Company and the Purchasers
mutually agree upon, orally or in writing (which time and place are designated as the “Initial
Closing”). In the event there is more than one closing prior to September 1, 2008, the term
“Closing” shall apply to each such closing unless otherwise specified.

               (b) At each Closing, the Company shall deliver to each Purchaser a certificate representing
the Shares being purchased by such Purchaser at such Closing against payment of the purchase price
therefor by check payable to the Company, by wire transfer to a bank account designated by the
Company or by any combination of such methods.

          1.3 Sale of Milestone Shares of Common Stock.

               (a) Second Tranche Shares. After the 2nd Tranche Milestone Event specified
in Exhibit C attached to this Agreement (the “2nd Tranche Milestone”) has been met, and
TomoTherapy and the Company have jointly provided notice of the Company’s intent to sell shares
pursuant to the second tranche (the “2nd Tranche Sale”), the Company shall sell, and
each Purchaser shall purchase, on a date designated by the Company (the “2nd Tranche
Closing Date”) that is not less than thirty (30) days after providing notice of the 2nd
Tranche Sale, the number of shares identified in such notice and such amount which shall not exceed
the number of shares of Series A Common Stock and Series B Common Stock as set forth next to each
such Purchaser’s name at Exhibit A under the heading “2nd Tranche Shares” (collectively,
the “2nd Tranche Shares”), at the same price as shares of the same series, as set forth
in Section 1.1(b) of this Agreement.

               (b) Third Tranche Shares. After the 3rd Tranche Milestone Event specified
in Exhibit C attached to this Agreement (the “3rd Tranche Milestone”) has been met, and
TomoTherapy and the Company have jointly provided notice of the Company’s intent to sell Shares
pursuant to the third tranche (the “3rd Tranche Sale”), the Company shall sell, and each
Purchaser shall purchase, on a date designated by the Company (the “3rd Tranche Closing
Date”) that is not less than thirty (30) days after providing notice of the 3rd Tranche
Sale, the number of shares identified in such notice and such amount which shall not exceed the
number of shares of Series A Common Stock and Series B Common Stock as set forth next to such
Purchaser’s name at Exhibit A under the heading “3rd Tranche Shares” plus, to the extent
applicable, any shares not otherwise offered to such Purchaser in the 2nd Tranche Sale
but listed under the heading 2nd Tranche Shares in Exhibit A (collectively, the
“3rd Tranche Shares”), at the same price as shares of the same series, as set forth in
Section 1.1(b) of this Agreement.

          1.4 Use of Proceeds. In accordance with the directions of the Company’s Board of
Directors (the “Board”), the Company will use the proceeds from the sale of the Shares under this
Agreement to fund (a) costs and expenses related to developing a Dielectric Wall Accelerator for
proton therapy and associated proton therapy system, including capital expenditures associated
therewith, whether such development occurs within the Company or at a research partner; (b) the
Company’s operations in accordance with the Board-approved plan and budget; (c) payments made in
connection with that certain License between TomoTherapy and the California Board of Regents and
the Cooperative Research and Development Agreement between TomoTherapy and Lawrence Livermore
National Laboratory to fund licensing, royalty

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and other costs and expenses related to intellectual
property protection; and (4) general working capital of the Company.

          1.5 Defined Terms Used in this Agreement. In addition to the terms defined above, the
following capitalized terms used in this Agreement shall be construed to have the meanings set
forth or referenced below.

          “Affiliate” means, with respect to any specified Person, any other Person who, directly or
indirectly, controls, is controlled by, or is under common control with such Person, including,
without limitation, any general partner, managing member, officer or director of such Person or any
venture capital fund now or hereafter existing that is controlled by one or more general partners
or managing members of, or shares the same management company with, such Person.

          “Code” means the Internal Revenue Code of 1986, as amended.

          “Common Stock” means the Company’s Common Stock, $0.001 par value per share.

          “Company Intellectual Property” means all patents, patent applications, trademarks, trademark
applications, service marks, trade names, copyrights, trade secrets, licenses, domain names, mask
works, information and proprietary rights and processes as are necessary to the conduct of the
Company’s business as now conducted and as presently proposed to be conducted.

          “Investors’ Rights Agreement” means the agreement between the Company and the Purchasers who
are purchasing Series B Common Stock, to be dated as of the date of the Initial Closing, in the
form of Exhibit D attached to this Agreement.

          “Knowledge,” including the phrase “to the Company’s Knowledge,” shall mean the actual
knowledge of the following officers: Shawn Guse, General Manager, and John Hughes, Vice President
of Commercial Operations. 

          “Material Adverse Effect” means a material adverse effect on the business, assets (including
intangible assets), liabilities, financial condition, property or results of operations of the
Company, taken as a whole.

          “Person” means any individual, corporation, partnership, trust, limited liability company,
association or other entity.

          “Securities Act” means the Securities Act of 1933, as amended, and the rules and regulations
promulgated thereunder.

          “Shareholders Agreement” means the agreement between the Company and the Purchasers, to be
dated as of the date of the Initial Closing, in the form of Exhibit E attached to this Agreement.

          “Shares” or, individually, “Share” means shares of Common Stock.

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          “Transaction Agreements” means this Agreement, the Investors’ Rights Agreement and the
Shareholders Agreement.

     2. Representations and Warranties of the Company. The Company hereby represents and
warrants to each Purchaser that the following representations are true and complete as of the date
of the Initial Closing, except as otherwise indicated.

          2.1 Organization, Good Standing, Corporate Power and Qualification. The Company is a
corporation duly organized, validly existing, has filed with the Wisconsin Department of Financial
Institutions the most recent annual report required to be filed by it, and has all requisite
corporate power and authority to carry on its business as presently conducted and as proposed to be
conducted. The Company is duly qualified to transact business and is in good standing in each
jurisdiction in which the failure to so qualify would have a Material Adverse Effect.

          2.2 Capitalization.

               (a) Upon filing of the Articles, immediately prior to the Initial Closing, the authorized
capital of the Company consists of the following: 100,000,000 shares of Common Stock, of which (i)
25,000,000 shares are designated as Series A Common Stock, $0.001 par value per share, 1,000 shares
of which will be issued and outstanding, and (ii) 75,000,000 shares are designated as Series B
Common Stock, none of which will be issued and outstanding. In addition, TomoTherapy holds a
warrant to purchase that number of shares of Series A Common Stock that equals (1) the quotient of
the amount of the valuation of TomoTherapy’s capital contribution to the Company, which valuation
is to be determined by FTI Consulting, Inc., divided by One Dollar ($1.00), minus (2) one thousand
(1,000).

               (b) Schedule 2.2(b) sets forth the capitalization of the Company immediately following
the Initial Closing. Except as provided in Schedule 2.2(b) and the Transaction Agreements,
there are no outstanding options, warrants, rights (including conversion or preemptive rights and
rights of first refusal or similar rights) or agreements, orally or in writing, to purchase or
acquire from the Company any Shares, or any securities convertible into or exchangeable for Shares.

          2.3 Subsidiaries. The Company does not currently own or control, directly or
indirectly, any other corporation, partnership, trust, joint venture, limited liability company,
association or other business entity.

          2.4 Authorization. All corporate action required to be taken by the Board and the
Company’s shareholders in order to authorize the Company to enter into the Transaction Agreements,
and to issue the Shares at the Closing, has been taken or will be taken prior to the Closing. All
action on the part of the officers of the Company necessary for the execution and delivery of the
Transaction Agreements, the performance of all obligations of the Company under the Transaction
Agreements to be performed as of the Closing, and the issuance and delivery of the Shares has been
taken or will be taken prior to the Closing. The Transaction Agreements, when executed and
delivered by the Company, shall constitute valid and legally binding obligations of the Company,
enforceable against the Company in accordance with their

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respective terms, except (i) as limited by
applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance or other laws
of general application relating to or affecting the enforcement of creditors’ rights generally,
(ii) as limited by laws relating to the availability
of specific performance, injunctive relief or other equitable remedies, or (iii) to the extent
the indemnification provisions contained in the Investors’ Rights Agreement may be limited by
applicable federal or state securities laws.

          2.5 Valid Issuance of Shares. The Shares, when issued, sold and delivered in
accordance with the terms and for the consideration set forth in this Agreement, will be validly
issued, fully paid and nonassessable and free of restrictions on transfer other than restrictions
on transfer under the Transaction Agreements, applicable state and federal securities laws and
liens or encumbrances created by or imposed by a Purchaser. Assuming the accuracy of the
representations of the Purchasers in Section 3 of this Agreement and subject to the filings
described in Section 2.6(ii) below, the Shares will be issued in compliance with all applicable
federal and state securities laws.

          2.6 Governmental Consents and Filings. Assuming the accuracy of the representations
made by the Purchasers in Section 3 of this Agreement, no consent, approval, order or authorization
of, or registration, qualification, designation, declaration or filing with, any federal, state or
local governmental authority is required on the part of the Company in connection with the
consummation of the transactions contemplated by this Agreement, except for (i) the filing of the
Articles, which will have been filed as of the Initial Closing, and (ii) filings pursuant to
Regulation D of the Securities Act, and applicable state securities laws, which have been made or
will be made in a timely manner.

          2.7 Litigation. There is no claim, action, suit, proceeding, arbitration, complaint,
charge or, to the Knowledge of the Company, investigation pending or currently threatened in
writing (i) against the Company or any officer, or director of the Company arising out of their
employment or relationship with the Company; (ii) to the Company’s Knowledge, that questions the
validity of the Transaction Agreements or the right of the Company to enter into them, or to
consummate the transactions contemplated by the Transaction Agreements; or (iii) to the Company’s
Knowledge, that would reasonably be expected to have, either individually or in the aggregate, a
Material Adverse Effect.

          2.8 Intellectual Property. To the Company’s Knowledge, no product or service marketed
or sold (or proposed to be marketed or sold) by the Company violates or will violate any license or
infringes or will infringe any intellectual property rights of any other party. Other than as
contemplated in its license with TomoTherapy and with respect to commercially available software
products under standard end-user object code license agreements, there are no outstanding options,
licenses, agreements, claims, encumbrances or shared ownership interests of any kind relating to
the Company Intellectual Property, nor is the Company bound by or a party to any options, licenses
or agreements of any kind with respect to the patents, trademarks, service marks, trade names,
copyrights, trade secrets, licenses, information, proprietary rights and processes of any other
Person. The Company has not received any communications alleging that the Company has violated or,
by conducting its business, would violate any of the patents,

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trademarks, service marks, trade
names, copyrights, trade secrets, mask works or other proprietary rights or processes of any other
Person.

          2.9 Compliance with Other Instruments. The Company is not in violation or default (i)
of any provisions of its Articles or Bylaws, (ii) of any instrument, judgment, order, writ or decree, (iii) under any note, indenture or mortgage, or (iv) under any lease,
agreement, contract or purchase order to which it is a party or by which it is bound, or, to its
Knowledge, of any provision of federal or state statute, rule or regulation applicable to the
Company, the violation of which would have a Material Adverse Effect. The execution, delivery and
performance of the Transaction Agreements and the consummation of the transactions contemplated by
the Transaction Agreements will not result in any such violation or be in conflict with or
constitute, with or without the passage of time and giving of notice, either (i) a default under
any such provision, instrument, judgment, order, writ, decree, contract or agreement or (ii) an
event which results in the creation of any lien, charge or encumbrance upon any assets of the
Company or the suspension, revocation, forfeiture or nonrenewal of any material permit or license
applicable to the Company.

          2.10 Agreements; Actions.

               (a) Except for the Transaction Agreements and the Company’s agreements with TomoTherapy, there
are no agreements, understandings, instruments, contracts or proposed transactions to which the
Company is a party or by which it is bound that involve (i) obligations (contingent or otherwise)
of, or payments to, the Company in excess of One Hundred Thousand Dollars $100,000, (ii) the
license of any patent, copyright, trademark, trade secret or other proprietary right to or from the
Company, (iii) the grant of rights to manufacture, produce, assemble, license, market, or sell its
products to any other Person that limit the Company’s exclusive right to develop, manufacture,
assemble, distribute, market or sell its products, or (iv) indemnification by the Company with
respect to infringements of proprietary rights.

               (b) The Company has not (i) declared or paid any dividends, or authorized or made any
distribution upon or with respect to any class or series of its capital stock, (ii) incurred any
indebtedness for money borrowed or incurred any other liabilities individually in excess of One
Hundred Thousand Dollars ($100,000) or in excess of One Million Dollars ($1,000,000) in the
aggregate, (iii) made any loans or advances to any Person, other than ordinary advances for travel
expenses, or (iv) sold, exchanged or otherwise disposed of any of its assets or rights, other than
the sale of its inventory in the ordinary course of business. For the purposes of this Section
2.10(b), all indebtedness, liabilities, agreements, understandings, instruments, contracts and
proposed transactions involving the same Person (including Persons the Company has reason to
believe are affiliated with each other) shall be aggregated for the purpose of meeting the
individual minimum dollar amounts of such subsection.

               (c) The Company is not a guarantor or indemnitor of any indebtedness of any other Person.

          2.11 Rights of Registration and Voting Rights. Except as provided in the Investors’
Rights Agreement, the Company is not under any obligation to register under the

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Securities Act any
of its currently outstanding securities or any securities issuable upon exercise of its currently
outstanding securities. To the Company’s Knowledge, except as contemplated in the Shareholders
Agreement, no shareholder of the Company has entered into any agreements with respect to the voting
of capital shares of the Company.

          2.12 Absence of Liens. The property and assets that the Company owns are free and
clear of all mortgages, deeds of trust, liens, loans and encumbrances, except for statutory liens
for the payment of current taxes that are not yet delinquent and encumbrances and liens that arise
in the ordinary course of business and do not materially impair the Company’s ownership or use of
such property or assets. With respect to the property and assets it leases, the Company is in
compliance with such leases and, to its Knowledge, holds a valid leasehold interest free of any
liens, claims or encumbrances other than those of the lessors of such property or assets.

          2.13 Material Liabilities. The Company has no liability or obligation, absolute or
contingent (individually or in the aggregate), except (i) obligations and liabilities incurred
after the date of incorporation in the ordinary course of business that are not material,
individually or in the aggregate, and (ii) obligations under contracts made in the ordinary course
of business that would not be required to be reflected in financial statements prepared in
accordance with generally accepted accounting principles.

          2.14 Changes. Since date of incorporation of the Company there has not been:

               (a) any change in the assets, liabilities, financial condition or operating results of the
Company, except changes in the ordinary course of business that have not caused, in the aggregate,
a Material Adverse Effect;

               (b) any damage, destruction or loss, whether or not covered by insurance, that would have a
Material Adverse Effect;

               (c) any waiver or compromise by the Company of a valuable right or of a material debt owed to
it;

               (d) any satisfaction or discharge of any lien, claim, or encumbrance or payment of any
obligation by the Company, except in the ordinary course of business and the satisfaction or
discharge of which would not have a Material Adverse Effect;

               (e) any resignation or termination of employment of any officer of the Company;

               (f) any mortgage, pledge, transfer of a security interest in, or lien, created by the Company,
with respect to any of its material properties or assets, except liens for taxes not yet due or
payable and liens that arise in the ordinary course of business and do not materially impair the
Company’s ownership or use of such property or assets;

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               (g) any loans or guarantees made by the Company to or for the benefit of its employees,
officers or directors, or any members of their immediate families, other than travel advances and
other advances made in the ordinary course of its business;

               (h) any declaration, setting aside or payment or other distribution in respect of any of the
Company’s capital stock, or any direct or indirect redemption, purchase, or other acquisition of
any of such stock by the Company;

               (i) any sale, assignment or transfer of any Company Intellectual Property that could
reasonably be expected to result in a Material Adverse Effect; or

               (j) any arrangement or commitment by the Company to do any of the things described in this
Section 2.14.

          2.15 Employee Matters. The Company has not had and as of the date hereof does not
have any employees.

          2.16 Corporate Documents. The Articles and the Bylaws of the Company are in the form
provided to the Purchasers.

          2.17 Disclosure. The Company has made available to the Purchasers all the information
reasonably available to the Company that the Purchasers have requested for deciding whether to
acquire Shares hererunder.

     3. Representations and Warranties of the Purchasers. Each Purchaser hereby represents
and warrants to the Company, severally and not jointly, that:

          3.1 Authorization. The Purchaser has full power and authority to enter into the
Transaction Agreements or, in the case of a Purchaser who is natural person, has the legal capacity
to enter into the Transaction Agreements. The Transaction Agreements to which the Purchaser is a
party, when executed and delivered by the Purchaser, will constitute valid and legally binding
obligations of the Purchaser, enforceable in accordance with their terms, except (a) as limited by
applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance and any other
laws of general application affecting enforcement of creditors’ rights generally, and as limited by
laws relating to the availability of specific performance, injunctive relief or other equitable
remedies, or (b) to the extent the indemnification provisions contained in the Investors’ Rights
Agreement may be limited by applicable federal or state securities laws.

          3.2 Purchase Entirely for Own Account. The Shares to be acquired by the Purchaser
hereunder will be acquired for investment for the Purchaser’s own account, not as a nominee or
agent, and not with a view to the resale or distribution of any part thereof, and that the
Purchaser has no present intention of selling, granting any participation in or otherwise
distributing the same. By executing this Agreement, the Purchaser further represents that the
Purchaser does not presently have any contract, undertaking, agreement or arrangement with any
Person to sell, transfer or grant participations to such Person or to any third Person, with
respect to any of the Shares. The Purchaser has not been formed for the specific purpose of
acquiring the Shares.

-8-

 

          3.3 Disclosure of Information. The Purchaser has had an opportunity to discuss the
Company’s business, management and financial affairs and the terms and conditions of the offering
of the Shares with the Company’s management and has had an opportunity to review the Company’s
facilities.

          3.4 Restricted Securities. The Purchaser understands that the Shares have not been,
and will not be, registered under the Securities Act, by reason of a specific exemption from
the registration provisions of the Securities Act which depends upon, among other things, the
bona fide nature of the investment intent and the accuracy of the Purchaser’s representations as
expressed herein. The Purchaser understands that the Shares are “restricted securities” under
applicable U.S. federal and state securities laws and that, pursuant to these laws, the Purchaser
must hold the Shares indefinitely unless they are registered with the Securities and Exchange
Commission and qualified by state authorities, or an exemption from such registration and
qualification requirements is available. The Purchaser acknowledges that the Company has no
obligation to register or qualify the Shares for resale except as set forth in the Investors’
Rights Agreement. The Purchaser further acknowledges that if an exemption from registration or
qualification is available, it may be conditioned on various requirements including, but not
limited to, the time and manner of sale, the holding period for the Shares, and on requirements
relating to the Company which are outside of the Purchaser’s control, and which the Company is
under no obligation and may not be able to satisfy.

          3.5 Risk Factors. The Purchaser has taken full cognizance of and understands all of
the risk factors related to the purchase of the Shares, including, but not limited to, those set
forth in Exhibit G of this Agreement.

          3.6 No Public Market. The Purchaser understands that no public market now exists for
the Shares, and that the Company has made no assurances that a public market will ever exist for
the Shares.

          3.7 Legends. The Purchaser understands that the Shares and any securities issued in
respect of or exchange for the Shares, may bear one or all of the following legends:

               (a) “THE SHARES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED UNDER THE SECURITIES
ACT OF 1933, AND HAVE BEEN ACQUIRED FOR INVESTMENT AND NOT WITH A VIEW TO, OR IN CONNECTION WITH,
THE SALE OR DISTRIBUTION THEREOF. NO SUCH TRANSFER MAY BE EFFECTED WITHOUT AN EFFECTIVE
REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL IN A FORM SATISFACTORY TO THE
COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED UNDER THE SECURITIES ACT OF 1933.”;

               (b) Any legend set forth in, or required by, the other Transaction Agreements; and

               (c) Any legend required by the securities laws of any state to the extent such laws are
applicable to the Shares represented by the certificate so legended.

-9-

 

          3.8 Accredited Investor. The Purchaser is an accredited investor as defined in Rule
501(a) of Regulation D promulgated under the Securities Act.

          3.9 Foreign Investors. If the Purchaser is not a United States person (as defined by
Section 7701(a)(30) of the Code), the Purchaser hereby represents that it has satisfied itself as
to the full observance of the laws of its jurisdiction in connection with any invitation to
subscribe for the Shares or any use of this Agreement, including (i) the legal requirements within
its jurisdiction for the purchase of the Shares, (ii) any foreign exchange restrictions
applicable to such purchase, (iii) any governmental or other consents that may need to be obtained,
and (iv) the income tax and other tax consequences, if any, that may be relevant to the purchase,
holding, redemption, sale or transfer of the Shares. The Purchaser’s subscription and payment for
and continued beneficial ownership of the Shares will not violate any applicable securities or
other laws of the Purchaser’s jurisdiction.

          3.10 No General Solicitation. Neither the Purchaser, nor any of its officers,
directors, employees, agents, shareholders or partners has either directly or indirectly, including
through a broker or finder, (a) engaged in any general solicitation, or (b) published any
advertisement in connection with the offer and sale of the Shares.

          3.11 Exculpation Among Purchasers. The Purchaser acknowledges that it is not relying
upon any Person, other than the Company and its officers and directors, in making its investment or
decision to invest in the Company. The Purchaser agrees that neither any Purchaser nor the
respective controlling Persons, officers, directors, partners, agents, or employees of any
Purchaser shall be liable to any other Purchaser for any action heretofore taken or omitted to be
taken by any of them in connection with the purchase of the Shares.

          3.12 Residence. If the Purchaser is a natural person, then the Purchaser resides in
the state or province identified in the address of the Purchaser set forth on the signature page
hereto; if the Purchaser is a partnership, corporation, limited liability company or other entity,
then the office or offices of the Purchaser in which its principal place of business is identified
in the address or addresses of the Purchaser set forth on the signature page hereto.

     4. Conditions to the Purchasers’ Obligations at Initial Closing. The obligations of
each Purchaser to purchase Shares at the Closing are subject to the fulfillment, on or before such
Closing, of each of the following conditions, unless otherwise waived:

          4.1 Representations and Warranties. The representations and warranties of the Company
contained in Section 2 shall be true and correct in all material respects as of the Initial
Closing.

          4.2 Performance. The Company shall have performed and complied with in all covenants,
agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by the Company on or before the Initial Closing.

          4.3 Compliance Certificate. An officer of the Company shall have delivered to the
Purchasers at the Closing a certificate certifying that the conditions specified in Sections 4.1
and 4.2 have been fulfilled.

-10-

 

          4.4 Qualifications. All authorizations, approvals or permits, if any, of any
governmental authority or regulatory body of the United States or of any state that are required in
connection with the lawful issuance and sale of the Shares pursuant to this Agreement shall be
obtained and effective as of the Initial Closing.

          4.5 Investors’ Rights Agreement. The Company and each Purchaser who is purchasing
Series B Common Stock (other than the Purchaser relying upon this condition to excuse such
Purchaser’s performance hereunder) shall have executed and delivered the Investors’ Rights
Agreement.

          4.6 Shareholders Agreement. The Company and each Purchaser (other than the Purchaser
relying upon this condition to excuse such Purchaser’s performance hereunder) shall have executed
and delivered the Shareholders Agreement.

          4.7 Articles. The Company shall have filed the Articles with the State of Wisconsin
Department of Financial Institutions.

          4.8 Officer’s Certificate. An officer of the Company shall have delivered to the
Purchasers at the Initial Closing a certificate certifying (i) the Bylaws of the Company, and (ii)
the resolutions of the Board approving the Transaction Agreements and the transactions contemplated
under the Transaction Agreements.

          4.9 Proceedings and Documents. All corporate and other proceedings in connection with
the transactions contemplated at the Initial Closing and all documents incident thereto shall be
reasonably satisfactory in form and substance to each Purchaser, and each Purchaser (or its
counsel) shall have received all such counterpart original and certified or other copies of such
documents as reasonably requested.

          4.10 Securities Laws and Regulations. The Shares and their sale and issuance pursuant
to this Agreement shall be in compliance with all applicable federal and state securities laws and
the regulations promulgated thereunder.

     5. Conditions of the Company’s Obligations at Initial Closing. The obligations of the
Company to sell Shares to the Purchasers at the Closing are subject to the fulfillment, on or
before the Closing, of each of the following conditions, unless otherwise waived:

          5.1 Representations and Warranties. The representations and warranties of each
Purchaser contained in Section 3 shall be true and correct in all respects as of the Initial
Closing.

          5.2 Performance. The Purchasers shall have performed and complied with all covenants,
agreements, obligations and conditions contained in this Agreement that are required to be
performed or complied with by them on or before the Initial Closing.

          5.3 Qualifications. All authorizations, approvals or permits, if any, of any
governmental authority or regulatory body of the United States or of any state that are required

-11-

 

in
connection with the lawful issuance and sale of the Shares pursuant to this Agreement shall be
obtained and effective as of the Initial Closing.

          5.4 Investors’ Rights Agreement. Each Purchaser who is purchasing Series B Common
Stock shall have executed and delivered the Investors’ Rights Agreement.

          5.5 Shareholders Agreement. Each Purchaser shall have executed and delivered the
Shareholders Agreement.

     6. Conditions of the 2nd and 3rd Tranche Closings.

          6.1 Unless otherwise waived by all parties hereto, the 2nd Tranche Closing Date
shall not occur unless and until the Company shall have provided the Purchasers with written notice
of completion of the 2nd Tranche Milestone.

          6.2 Unless otherwise waived by all parties hereto, the 3rd Tranche Closing Date
shall not occur unless and until the Company shall have provided the Purchasers with written notice
of completion of the 3rd Tranche Milestone.

     7. Miscellaneous.

          7.1 Survival of Warranties. Unless otherwise set forth in this Agreement, the
representations and warranties of the Company and the Purchasers contained in or made pursuant to
this Agreement shall survive the execution and delivery of this Agreement and the Closing for a
period of one year.

          7.2 Successors and Assigns. The terms and conditions of this Agreement shall inure to
the benefit of and be binding upon the respective successors and assigns of the parties. Nothing
in this Agreement, express or implied, is intended to confer upon any party other than the parties
hereto or their respective successors and assigns any rights, remedies, obligations or liabilities
under or by reason of this Agreement, except as expressly provided in this Agreement.

          7.3 Governing Law. This Agreement shall be governed by, and construed in accordance
with, the laws of the State of Wisconsin, regardless of the laws that might otherwise govern under
applicable principles of conflicts of law or rules of construction concerning the draftsman hereof.

          7.4 Counterparts; Facsimile. This Agreement may be executed and delivered by
facsimile or pdf signature and in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.

          7.5 Titles and Subtitles. The titles and subtitles used in this Agreement are used
for convenience only and are not to be considered in construing or interpreting this Agreement.

          7.6 Notices. All notices and other communications given or made pursuant to this
Agreement shall be in writing and shall be deemed effectively given upon the earlier of

-12-

 

actual
receipt or: (a) personal delivery to the party to be notified, (b) when sent, if sent by facsimile
during normal business hours of the recipient, and if not sent during normal business hours, then
on the recipient’s next business day, (c) five (5) days after having been sent by registered or
certified mail, return receipt requested, postage prepaid, or (d) one (1) business day after
deposit with a nationally recognized overnight courier, freight prepaid, specifying next
business day delivery, with written verification of receipt. All communications shall be sent
to the respective parties at their address on the signature page hereto, or to such facsimile
number or address as subsequently modified by written notice given in accordance with this Section
7.6.

          7.7 Amendments and Waivers. Except as to an individual Purchaser’s investment amount
as set forth in Exhibit A, any term of this Agreement may be amended, terminated or waived only
with the written consent of the Company and the holders of a majority of the then-outstanding
Shares purchased or to be purchased hereunder. As to an individual Purchaser’s investment amount
as set forth in Exhibit A, such amount may be amended, terminated or waived only with the written
consent of the Company and such Purchaser. Any amendment or waiver effected in accordance with
this Section 7.7 shall be binding upon the Purchasers and each transferee of the Shares, each
future holder of all such securities and the Company.

          7.8 Severability. The invalidity or unenforceability of any provision hereof shall in
no way affect the validity or enforceability of any other provision.

          7.9 Delays or Omissions. No delay or omission to exercise any right, power or remedy
accruing to any party under this Agreement, upon any breach or default of any other party under
this Agreement, shall impair any such right, power or remedy of such non-breaching or
non-defaulting party nor shall it be construed to be a waiver of any such breach or default, or an
acquiescence therein, or of or in any similar breach or default thereafter occurring; nor shall any
waiver of any single breach or default be deemed a waiver of any other breach or default
theretofore or thereafter occurring. Any waiver, permit, consent or approval of any kind or
character on the part of any party of any breach or default under this Agreement, or any waiver on
the part of any party of any provisions or conditions of this Agreement, must be in writing and
shall be effective only to the extent specifically set forth in such writing. All remedies, either
under this Agreement or by law or otherwise afforded to any party, shall be cumulative and not
alternative.

          7.10 Entire Agreement. This Agreement (including the Exhibits and schedules hereto),
the Articles and the other Transaction Agreements constitute the full and entire understanding and
agreement among the parties with respect to the subject matter hereof, and any other written or
oral agreement relating to the subject matter hereof existing between the parties are expressly
canceled.

          7.11 Dispute Resolution. The parties (a) hereby irrevocably and unconditionally
submit to the jurisdiction of the federal and state courts located within the geographic boundaries
of Dane County in the State of Wisconsin for the purpose of any suit, action or other proceeding
arising out of or based upon this Agreement, (b) agree not to commence any suit, action or other
proceeding arising out of or based upon this Agreement except in the federal and state courts
located within the geographic boundaries of Dane County

-13-

 

in the State of Wisconsin, and (c) hereby
waive, and agree not to assert, by way of motion, as a defense, or otherwise, in any such suit,
action or proceeding, any claim that it is not subject personally to the jurisdiction of the
above-named courts, that its property is exempt or immune from attachment or execution, that the
suit, action or proceeding is brought in an inconvenient forum, that the venue of the suit, action
or proceeding is improper or that this Agreement or the subject matter hereof may not be enforced in or by such court. The prevailing party shall be
entitled to reasonable attorneys’ fees, costs and necessary disbursements in addition to any other
relief to which such party may be entitled.

[Signature Page Follows]

-14-

 

     IN WITNESS WHEREOF, the parties have executed this Series A Common Stock Purchase Agreement as
of the date first written above.

	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	COMPACT PARTICLE ACCELERATION CORPORATION	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Shawn Guse	 	 
	 

	 	Name:
	 	Shawn Guse

	 	 
	 

	 	Title:
	 	General
Manager

	 	 
	 

	 	 	 	 

	 	 

 

 

	 	 	 	 	 	 	 
	 	 	PURCHASERS:	 	 
	 
	 	 	 	 	 	 
	 	 	DaneVest Tech Fund I, LP	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Joseph Hildebrandt	 	 
	 

	 	Name:
	 	Joseph Hildebrandt

	 	 
	 

	 	its:
	 	Manager

	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	The Endeavors Group, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Michael J. Cudahy	 	 
	 

	 	Name:
	 	Michael J. Cudahy

	 	 
	 

	 	its:
	 	Managing
Member

	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	Libby One LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Jose Luis Pino-y-Torres	 	 
	 

	 	Name:
	 	Jose Luis Pino-y-Torres

	 	 
	 

	 	its:
	 	Manager

	 	 
	 

	 	 	 	 

	 	 
	 
	 	 	 	 	 	 
	 	 	TomoPro Investment, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ John Bodilly	 	 
	 

	 	Name:
	 	John Bodilly

	 	 
	 

	 	its:
	 	Manager

	 	 
	 

	 	 	 	 

	 	 

 

 

	 	 	 	 	 	 	 
	 	 	TomoTherapy Incorporated	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	/s/ Frederick A. Robertson	 	 
	 

	 	Name:
	 	Frederick A. Robertson

	 	 
	 

	 	Its:
	 	CEO

	 	 
	 

	 	 	 	 

	 	 

 

 

Remaining schedules and exhibits are intentionally omitted.

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