Document:

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                                                                    Exhibit 10.3

                               SECURITY AGREEMENT

          THIS SECURITY AGREEMENT (this "Security Agreement") is entered into as
of March 30, 2006, by and among WORLD AIRWAYS, INC., a Delaware corporation
("World Airways"), NORTH AMERICAN AIRLINES, INC., a Delaware corporation ("North
American"; World Airways and North American, each a "Borrower", and
collectively, the "Borrowers"), WORLD AIR HOLDINGS, INC., a Delaware corporation
("Holdings"), WORLD AIRWAYS PARTS COMPANY, LLC, a Delaware limited liability
company ("Parts"; Holdings and Parts, each, individually, a "Guarantor" and
collectively the "Guarantors"; the Guarantors, together with the Borrowers,
each, individually, a "Credit Party", and, collectively, the "Credit Parties",
which terms shall include any Domestic Subsidiary which becomes a Credit Party
pursuant to Section 7.16 of the Credit Agreement referred to below) and WACHOVIA
BANK, NATIONAL ASSOCIATION, in its capacity as agent (in such capacity, the
"Agent") for the financial institutions from time to time party to the Credit
Agreement described below (the "Lenders").

                                    RECITALS

          WHEREAS, pursuant to that certain Credit Agreement dated as of the
date hereof (together with all modifications, renewals, extensions, supplements
and replacements from time to time, the "Credit Agreement"), among the
Borrowers, the Lenders and the Agent, the Lenders have agreed to make Loans and
to issue or participate in Letters of Credit upon the terms and subject to the
conditions set forth therein;

          WHEREAS, it is a condition precedent to the effectiveness of the
Credit Agreement and the obligations of the Lenders to make their respective
Loans and to issue Letters of Credit under the Credit Agreement that the Credit
Parties shall have executed and delivered this Security Agreement to the Agent
for the benefit of the Agent and the Lenders.

          NOW, THEREFORE, in consideration of these premises and other good and
valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:

     1. Definitions.

          (a) Unless otherwise defined herein, capitalized terms used herein
     shall have the meanings ascribed to such terms in the Credit Agreement, and
     the following terms which are defined in the Uniform Commercial Code from
     time to time in effect in the State of Georgia (the "UCC") are used herein
     as so defined: Accessions, Accounts, As-Extracted Collateral, Certificate
     of Title, Chattel Paper, Commercial Tort Claims, Commodities Intermediary,
     Consumer Goods, Control, Deposit Accounts, Documents, Equipment, Farm
     Products, Fixtures, General Intangibles, Goods, Instruments, Inventory,
     Investment Property, Letter-of-Credit Rights, Manufactured Homes, Proceeds,
     Securities Intermediary, Software, Supporting Obligations and Tangible
     Chattel Paper. For purposes of this Security Agreement, the term "Lender"
     shall include any Lender or any Affiliate of any Lender which has entered
     into any Lender Hedging Agreement or any agreement pertaining to Bank
     Products.

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          (b) In addition, the following terms shall have the following
     meanings:

          "Aircraft Lease Agreements" means the collective reference to each
lease now or hereafter in effect between any Credit Party and any other Person
providing for the lease by such Credit Party of any "aircraft" (as defined in
the FAA Act) and/or any "engine" (as defined in the FAA Act), each such lease
existing on the date hereof (and all amendments thereto) being described on
Schedule 6 hereto.

          "Copyright Licenses" means any written agreement, naming any Credit
Party as licensor, granting any right under any Copyright including, without
limitation, any thereof referred to in Schedule 6.17 to the Credit Agreement.

          "Copyrights" means (a) all registered United States copyrights in all
Works, now existing or hereafter created or acquired, all registrations and
recordings thereof, and all applications in connection therewith, including,
without limitation, registrations, recordings and applications in the United
States Copyright Office including, without limitation, any thereof referred to
in Schedule 6.17 to the Credit Agreement, and (b) all renewals thereof
including, without limitation, any thereof referred to in Schedule 6.17 to the
Credit Agreement.

          "FAA" means the Federal Aviation Administration of the United States
of America and any successor thereto.

          "Intellectual Property" means all Copyrights, Copyright Licenses,
Patents, Patent Licenses, Trademarks, Trademark Licenses and all other
intellectual property of the Credit Parties.

          "Leased Aircraft" means all aircraft and aircraft engines leased by a
Credit Party pursuant to an Aircraft Lease Agreement.

          "Patent License" means all agreements, whether written or oral,
providing for the grant by or to a Credit Party of any right to manufacture, use
or sell any invention covered by a Patent, including, without limitation, any
thereof referred to in Schedule 6.17 to the Credit Agreement.

          "Patents" means (a) all letters patent of the United States or any
other country and all reissues and extensions thereof, including, without
limitation, any thereof referred to in Schedule 6.17 to the Credit Agreement,
and (b) all applications for letters patent of the United States or any other
country and all divisions, continuations and continuations-in-part thereof,
including, without limitation, any thereof referred to in Schedule 6.17 to the
Credit Agreement.

          "Secured Obligations" means (a) all Obligations, howsoever evidenced,
created, incurred or acquired, whether primary, secondary, direct or contingent,
or joint and several and (b) all expenses and charges, legal and otherwise,
actually incurred by the Agent and/or the Lenders in collecting or enforcing any
Obligations or in realizing on or protecting any security therefor, including
without limitation the security afforded hereunder.

          "Securities Account" means an account to which a financial asset is or
may be credited in accordance with an agreement under which the person
maintaining the account

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undertakes to treat the person for whom the account is maintained as entitled to
exercise the rights that comprise the financial asset.

          "Spare Parts" means any "spare part" (as defined in the FAA
Act)(currently defined in 49 U.S.C. Section 40102(a)(43)).

          "Spare Parts Agreement" means an agreement among any Credit Party, the
Agent and the lessor under an Aircraft Lease Agreement, containing intercreditor
arrangements reasonably acceptable to the Agent including, but not limited to,
arrangements allowing the Agent to enter Leased Aircraft or other locations
owned or leased by such lessor for the purposes of taking possession of any of
such Credit Party's Spare Parts or otherwise enforcing the Agent's security
interests in such Spare Parts.

          "Spare Parts Location" means the location of any Spare Part which is
identified on Schedule 4(b) as a Spare Parts Location, as amended or otherwise
supplemented from time to time by any Credit Party pursuant to the terms of this
Security Agreement.

          "Trademark License" means any agreement, written or oral, providing
for the grant by or to a Credit Party of any right to use any Trademark,
including, without limitation, any thereof referred to in Schedule 6.17 to the
Credit Agreement.

          "Trademarks" means (a) all trademarks, trade names, corporate names,
company names, business names, fictitious business names, trade styles, service
marks, logos and other source or business identifiers, and the goodwill
associated therewith, now existing or hereafter adopted or acquired, all
registrations and recordings thereof, and all applications in connection
therewith, whether in the United States Patent and Trademark Office or in any
similar office or agency of the United States, any State thereof or any other
country or any political subdivision thereof, or otherwise, including, without
limitation, any thereof referred to in Schedule 6.17 to the Credit Agreement,
and (b) all renewals thereof.

          "Work" means any work which is subject to copyright protection
pursuant to Title 17 of the United States Code.

     2. Grant of Security Interest in the Collateral. To secure the prompt
payment and performance in full when due, whether by lapse of time,
acceleration, mandatory prepayment or otherwise, of the Secured Obligations,
each Credit Party hereby grants to the Agent, for the benefit of the Agent and
the Lenders, a continuing security interest in, and a right to set off against,
any and all right, title and interest of such Credit Party in and to the
following, whether now owned or existing or owned, acquired, or arising
hereafter (collectively, the "Collateral"):

          (a) all Accounts;

          (b) all cash and Cash Equivalents;

          (c) all Chattel Paper;

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          (d) those certain Commercial Tort Claims of the Credit Parties in
     which a Credit Party is the claimant or plaintiff set forth on Schedule
     2(d) attached hereto, if any, (as such Schedule may be updated from time to
     time by the Credit Parties);

          (e) all Copyrights;

          (f) all Copyright Licenses;

          (g) all Deposit Accounts, Collection Accounts, Cash Concentration
     Accounts, Securities Accounts, and all accounts with Valley National Bank
     or the United Parcel Service maintained in connection with AMC-related
     contracts, or otherwise, and any replacement or successor accounts relating
     thereto;

          (h) all Documents;

          (i) all Equipment;

          (j) all Fixtures;

          (k) all General Intangibles;

          (l) all Goods;

          (m) all Instruments;

          (n) all Inventory;

          (o) all Investment Property;

          (p) all Letter-of-Credit Rights;

          (q) to the extent assignable, all agreements, contracts, leases
     (excluding Aircraft Lease Agreements and Real Estate leases or usufructs),
     including, but not limited to, Aircraft Lease Agreements, licenses, tax
     sharing agreements or hedging arrangements now or hereafter entered into by
     a Credit Party, as such agreements may be amended or otherwise modified
     from time to time (collectively, the "Assigned Agreements"), including,
     without limitation, (i) all rights of a Credit Party to receive moneys due
     and to become due under or pursuant to the Assigned Agreements, (ii) all
     rights of a Credit Party to receive proceeds of any insurance, indemnity,
     warranty or guaranty with respect to the Assigned Agreements, (iii) claims
     of a Credit Party for damages arising out of or for breach of or default
     under the Assigned Agreements and (iv) the right of a Credit Party to
     terminate the Assigned Agreements, to perform thereunder and to compel
     performance and otherwise exercise all remedies thereunder;

          (r) all Patents;

          (s) all Patent Licenses;

          (t) all Trademarks;

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          (u) all Trademark Licenses;

          (v) all Software;

          (w) all Spare Parts whether located at a Spare Parts Location or
     otherwise;

          (x) all Supporting Obligations;

          (y) all books, records, ledger cards, files, correspondence, computer
     programs, tapes, disks, and related data processing software (in each
     instance, to the extent owned by such Credit Party or in which it has an
     assignable interest) that at any time evidence or contain information
     relating to any Collateral or are otherwise necessary or helpful in the
     collection thereof or realization thereupon;

          (z) all other personal property of any kind or type whatsoever owned
     by such Credit Party; and

          (aa) to the extent not otherwise included, all Accessions, Proceeds
     and products of any and all of the foregoing.

          The Credit Parties and the Agent, for itself and on behalf of the
Lenders, hereby acknowledge and agree that the security interest created hereby
in the Collateral (i) constitutes continuing collateral security for all of the
Secured Obligations, whether now existing or hereafter arising and (ii) is not
to be construed as an assignment of any Intellectual Property. Any of the
foregoing to the contrary notwithstanding, the "Collateral" shall not include,
and the security interest granted herein shall not attach to, any asset subject
to a rule of law, statute or regulation or of an agreement or any general
intangible (including a contract, permit, license or franchise) or a Permitted
Lien, where the grant of such security interest would invalidate or constitute a
breach or violation of any such rule of law, statute, regulation, agreement or
general intangible or agreement or agreements creating or giving rise to such
Permitted Lien, provided that the limitation set forth in this sentence shall
(i) exist only for so long as such rule of law, statute, regulation, agreement
or general intangible or agreement and the Permitted Lien created therein
continue to be effective (and, upon the cessation, termination, expiration of
such rule of law, statute, regulation, agreement or general intangible or
Permitted Lien, or if any such rule of law, statute or regulation is no longer
applicable, the security interest granted herein shall be deemed to have
automatically attached to such asset) and (ii) not apply with respect to any
asset if and to the extent that the security interest in and to such asset
granted in this Security Agreement is permitted under Sections 9-406, 9-407,
9-408, or 9-409 of the UCC.

     3. Provisions Relating to Accounts, Chattel Paper, Contracts and
Agreements.

          (a) Anything herein to the contrary notwithstanding, each of the
     Credit Parties shall remain liable under each of its Accounts, Chattel
     Paper, contracts and agreements to observe and perform all the conditions
     and obligations to be observed and performed by it thereunder, subject to
     all waivers, notice and cure rights and rights to object contained therein.
     Neither the Agent nor any Lender shall have any obligation or liability
     under any Account (or any agreement giving rise thereto), Chattel Paper,
     contract or agreement by reason of or arising out of this Security
     Agreement or the receipt by the Agent or any

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     Lender of any payment relating to such Account, Chattel Paper, contract or
     agreement pursuant hereto, nor shall the Agent or any Lender be obligated
     in any manner to perform any of the obligations of a Credit Party under or
     pursuant to any Account (or any agreement giving rise thereto), Chattel
     Paper, contract or agreement, to make any payment, to make any inquiry as
     to the nature or the sufficiency of any payment received by it or as to the
     sufficiency of any performance by any party under any Account (or any
     agreement giving rise thereto), Chattel Paper, contract or agreement, to
     present or file any claim, to take any action to enforce any performance or
     to collect the payment of any amounts which may have been assigned to it or
     to which it may be entitled at any time or times.

          (b) To the extent and as provided in the Credit Agreement, at any time
     and from time to time, the Agent shall have the right, but not the
     obligation, to make test verifications of the Accounts and the Chattel
     Paper in any manner and through any medium that it considers advisable, and
     the Credit Parties shall furnish all such assistance and information as the
     Agent may require in connection with such test verifications. To the extent
     and as provided in the Credit Agreement, upon the Agent's request and at
     the expense of the Credit Parties, the Credit Parties shall cause
     independent public accountants or others satisfactory to the Agent to
     furnish to the Agent reports showing reconciliations, aging and test
     verifications of, and trial balances for, the Accounts. To the extent and
     as provided in the Credit Agreement, the Agent in its own name or in the
     name of others may communicate with account debtors on the Accounts and the
     Chattel Paper to verify with them to the Agent's satisfaction the
     existence, amount and terms of any Accounts and Chattel Paper.

     4. Representations and Warranties. Each Credit Party hereby represents and
warrants to the Agent, for the benefit of the Lenders, that until all of the
Credit and Collateral Termination Events have occurred:

          (a) Chief Executive Office; Books & Records; Legal Name; State of
     Formation. Such Credit Party's chief executive office and chief place of
     business are (and for the prior four months has been) located at the
     locations set forth on Schedule 6.7 to the Credit Agreement (as updated
     from time to time), and such Credit Party keeps its books and records at
     such locations. Such Credit Party's exact legal name as registered in its
     state of formation is as shown in the introductory paragraphs of this
     Security Agreement, its state of formation is (and for the prior four
     months has been) the state set forth on Schedule 6.1 to the Credit
     Agreement, and its organizational number, if any, assigned by such state is
     set forth on Schedule 6.1 to the Credit Agreement. Such Credit Party has
     not, in the past four months, changed its name, been party to a merger,
     consolidation or other change in structure or used any tradename not
     disclosed on Schedule 6.8 to the Credit Agreement (as updated from time to
     time).

          (b) Location of Tangible Collateral. The location of all tangible
     Collateral owned by such Credit Party (other than rolling stock, goods out
     for repair, and goods in transit) is as shown on Schedule 6.7 to the Credit
     Agreement (as updated from time to time). Schedule 4(b) hereto identifies
     specifically the Spare Parts Location of all Spare Parts.

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          (c) Ownership. Such Credit Party is the legal and beneficial owner of
     or possesses rights in its Collateral and has the right to pledge, sell,
     assign or transfer the same.

          (d) Security Interest/Priority. This Security Agreement creates a
     valid security interest in favor of the Agent, for the benefit of the
     Lenders, in the Collateral of such Credit Party and, when properly
     perfected by filing, upon the Agent's obtaining Control of such Collateral
     or upon compliance with the filing requirements of the FAA Act (or similar
     law providing for the perfection of a security interest in Spare Parts),
     shall constitute a valid first priority, perfected security interest in
     such Collateral, to the extent such security interest can be perfected by
     filing or through Control under the UCC or by filing this Security
     Agreement with the FAA, free and clear of all Liens except for Permitted
     Liens.

          (e) Consents. Except for the filing or recording of UCC financing
     statements or obtaining Control to perfect the Liens created by this
     Security Agreement that may be perfected through the filing of a UCC
     financing statement or obtaining Control, and except for complying with the
     requirements of the FAA Act (or similar law providing for the perfection of
     a security interest in Spare Parts), no consent or authorization of, filing
     with, or other act by or in respect of, any arbitrator or Governmental
     Authority and no consent of any other Person (including, without
     limitation, any stockholder, member or creditor of such Credit Party), is
     required (except as such have been duly obtained, made or given and are in
     full force and effect) (i) for the grant by such Credit Party of the
     security interest in the Collateral granted hereby or for the execution,
     delivery or performance of this Security Agreement by such Credit Party or
     (ii) for the perfection of such security interest or the exercise by the
     Agent of the rights and remedies provided for in this Security Agreement,
     except to the extent required by any Spare Parts Agreement, or other
     agreements between third party landlords, warehousemen or bailees. with
     respect to Collateral.

          (f) Types of Collateral. None of the Collateral consists of, or is the
     Proceeds of, As-Extracted Collateral, Consumer Goods, Farm Products,
     Manufactured Homes or standing timber (as such term is used in the UCC).

          (g) Accounts. With respect to such Credit Party's Accounts: (i) the
     goods sold, rented or leased, licensed, or assigned and/or services
     furnished giving rise to each Account and the Chattel Paper are not subject
     to any security interest or Lien except the first priority, perfected
     security interest granted to the Agent herein and except for Permitted
     Liens; (ii) each Account and the papers and documents of the applicable
     Credit Party relating thereto are, and all Chattel Paper is, genuine and in
     all material respects what they purport to be; (iii) each Account and all
     Chattel Paper arises out of a bona fide transaction for goods sold and
     delivered (or in the process of being delivered), leased, licensed, or
     assigned by such Credit Party or for services actually rendered by such
     Credit Party to customers, including, but not limited to, any applicable
     USG Entity, which transaction was conducted in the ordinary course of the
     Credit Party's business and was completed in accordance with the terms of
     any documents pertaining thereto; (iv) no Account of such Credit Party is
     evidenced by any Instrument or Chattel Paper unless such

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     Instrument or Chattel Paper has been endorsed over and delivered to, or
     submitted to the control of, the Agent at the Agent's request therefore;
     (v) the amount of each Account as shown on the applicable Credit Party's
     books and records, and on all invoices and statements which may be
     delivered to the Agent with respect thereto, is due and payable to such
     Credit Party; (vi) to such Credit Parties' knowledge, the account debtor
     with respect to each Account and the obligor with respect to all Chattel
     Paper has the capacity to contract; (vii) to such Credit Party's knowledge,
     there are no proceedings or actions which are threatened or pending against
     any account debtor whose business is material to the Credit Parties and
     their Subsidiaries taken as a whole which are reasonably likely to have a
     material adverse change in such account debtor's financial condition or the
     collectibility of Accounts owing by it to the Credit Parties and (viii) no
     surety bond was required or given in connection with any Account or any
     Chattel Paper of such Credit Party or the contracts or purchase orders out
     of which they arose.

          (h) Inventory. To such Credit Party's knowledge, none of such Credit
     Party's Inventory is held by a third party (other than another Credit
     Party) pursuant to consignment (other than Spare Parts disposed of in such
     Credit Party's ordinary course of business), sale or return, sale on
     approval or similar arrangement. All of each Credit Party's Inventory has
     been produced in compliance in all material respects with all requirements
     of the Fair Labor Standards Act.

          (i) Intellectual Property. All representations and warranties
     contained in Section 6.17 of the Credit Agreement are incorporated herein
     by reference.

          (j) Documents, Instruments and Chattel Paper. All Documents,
     Instruments and Chattel Paper describing, evidencing or constituting
     Collateral are, to such Credit Party's knowledge, complete, valid, and
     genuine.

          (k) Equipment. With respect to such Credit Party's Equipment: (i) such
     Credit Party has good title thereto or a leasehold interest therein; and
     (ii) all such Equipment is in normal operating condition and repair and is
     suitable for the uses to which it is customarily put in the conduct of such
     Credit Party's business.

          (l) Restrictions on Security Interest. Except as provided in the
     Credit Agreement, such Credit Party is not party to any license or other
     agreements which would materially limit the Agent's (or any of the Agent's
     transferees) right to sell, lease, or otherwise use any Inventory or
     Equipment upon the Agent's proper exercise of its remedies hereunder and
     under the other Credit Documents.

          (m) Purchase of Collateral. Within the 12-month period preceding the
     Closing Date, none of the Credit Parties has purchased any of the
     Collateral consisting of goods in a bulk transfer or in a transaction which
     was outside the ordinary course of the business of such Credit Party's
     seller.

          (n) Certified Air Carriers. World Airways and North American are each
     air carriers certified under 49 U.S.C. Section 44705 and all Spare Parts
     used by them are maintained by or on behalf of either World Airways or
     North American at the Spare Parts

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     Locations identified as such on Schedule 4(b) only (except for Spare Part
     fly away kits located on Leased Aircraft).

          (o) Spare Parts.

               (i) The ownership, maintenance, operation and other use of each
          item constituting Spare Parts (i) complies with all applicable
          airworthiness standards and other requirements of the FAA Act, the
          FARs and other applicable laws and (ii) is and has been maintained
          strictly in accordance with an FAA-approved maintenance program (if
          applicable);

               (ii) All material and necessary approvals, authorizations,
          consents, licenses, certificates, orders and permits of any
          Governmental Authority having jurisdiction under any applicable law
          with respect to such Credit Party's ownership, use, operation and
          maintenance of any of the Spare Parts have been obtained, and all such
          approvals, authorizations, consents, licenses, certificates, orders
          and permits are in full force and effect and constitute sufficient
          authorization therefor;

               (iii) This Security Agreement is in due form for recording with
          the FAA in accordance with the FAA Act;

               (iv) Schedule 4(b) hereto, as amended or otherwise supplemented
          from time to time by any Credit Party, sets forth the Spare Parts
          Locations of all Spare Parts;

               (v) The Spare Parts are not subject to any Intellectual Property
          rights of or with any other Person which would require any consent of
          any third party upon sale or disposition of such Spare Parts or the
          payment of any monies to any third party upon such sale or other
          disposition; and

               (vi) Subject to the requirements or limitations set forth in any
          Spare Parts Agreement, the sale or other disposition of any Spare
          Parts by the Agent following a Default shall not require the consent
          of any other Person and shall not constitute a breach or default under
          any contract or agreement to which such Credit Party is a party or to
          which such Spare Parts are bound.

          (p) Aircraft Agreements.

               (i) Each Aircraft Lease Agreement in effect on the date hereof
          and all amendments thereto is described on Schedule 4(p) hereto.

               (ii) Subject to the requirements or limitations set forth in any
          Spare Parts Agreement, no consent of any party (other than such Credit
          Party) to any Aircraft Lease Agreement is required, or purports to be
          required, in connection with the execution, delivery and performance
          of this Security Agreement.
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               (iii) Each Aircraft Lease Agreement has been duly authorized,
          executed and delivered by each of the Credit Party's party thereto, is
          in full force and effect, and constitutes a valid and legally
          enforceable obligation of the parties thereto, subject to the effects
          of bankruptcy, insolvency, reorganization, moratorium and other
          similar laws relating to or affecting creditors' rights generally and
          general equitable principles (whether considered in a proceeding in
          equity or at law).

               (iv) No consent or authorization of, filing with or other act by
          or in respect of any Governmental Authority is required in connection
          with the execution, delivery, performance, validity or enforceability
          of any Aircraft Lease Agreement by any Credit Party party thereto
          other than those which have been duly obtained, made or performed, are
          in full force and effect and do not subject the scope of any such
          Aircraft Lease Agreement to any limitation, either specific or general
          in nature.

               (v) There exists no default under or violation of any Aircraft
          Lease Agreement by any Credit Party party thereto and no waiver of any
          such default or violation is currently in effect.

               (vi) The right, title and interest of such Credit Party in, to
          and under the Aircraft Lease Agreements are not subject to any
          defense, offset, recoupment, counterclaim or claim known to such
          Credit Party.

               (vii) None of the parties to any Aircraft Lease Agreement is a
          Governmental Authority.

     5. Covenants. Each Credit Party covenants that, until all of the Credit and
Collateral Termination Events have occurred, such Credit Party shall:

          (a) Other Liens. Defend the Collateral against the claims and demands
     of all other parties claiming an interest therein, and keep the Collateral
     free from all Liens, except for Permitted Liens. Such Credit Party shall
     not sell, exchange, transfer, assign, lease or otherwise dispose of any of
     the Collateral or any interest therein, except as permitted under the
     Credit Agreement or the other Credit Documents.

          (b) Preservation of Collateral. Keep the Collateral in good order,
     condition and repair in all material respects; not use the Collateral in
     violation of the provisions of this Security Agreement; not use the
     Collateral in violation of any other agreement relating to the Collateral
     or any policy insuring the Collateral or any applicable statute, law,
     bylaw, rule, regulation or ordinance; not permit any Collateral to be or
     become a fixture to real property unless the Agent has a valid, perfected
     and first priority security interest for the benefit of the Agent and the
     Lenders in such real property; and not, without the prior written consent
     of the Agent, alter or remove any identifying symbol or serial number on
     its Equipment or, if any, on its Inventory. Without limiting the foregoing,
     the Credit Parties shall cause to be performed on all Spare Parts all
     applicable mandatory airworthiness directives, FARs, Special Federal
     Aviation Regulations, and

<PAGE>

     manufacturers' service bulletins relating to airworthiness, the compliance
     date of which shall occur during the term of this Security Agreement.

          (c) Possession or Control of Certain Collateral. If (i) any amount
     payable under or in connection with any of the Collateral shall be or
     become evidenced by any Instrument, Tangible Chattel Paper or Supporting
     Obligation or (ii) if any Collateral shall be stored or shipped subject to
     a Document or (iii) if any Collateral shall consist of Investment Property
     in the form of certificated securities, promptly notify the Agent of the
     existence of such Collateral and, at the request of the Agent, deliver such
     Instrument, Chattel Paper, Supporting Obligation, Document or Investment
     Property to the Agent, duly endorsed in a manner satisfactory to the Agent
     (or, with respect to certificated securities, provide duly executed blank
     stock powers in such form as may be reasonably requested by the Agent), to
     be held as Collateral pursuant to this Security Agreement. If any
     Collateral shall consist of Deposit Accounts, Securities Accounts, Chattel
     Paper in electronic form, Letter-of-Credit Rights or uncertificated
     Investment Property, execute and deliver (and, with respect to any
     Collateral consisting of uncertificated Investment Property, cause the
     Securities Intermediary or Commodities Intermediary with respect to such
     Investment Property to execute and deliver) to the Agent, in accordance
     with the terms of the Credit Agreement, all control agreements,
     assignments, instruments or other documents as reasonably requested by the
     Agent for the purposes of obtaining and maintaining Control of such
     Collateral, including, but not limited to, Deposit Account Control
     Agreements and Securities Account Control Agreements.

          (d) Changes in Corporate Structure or Location. Except as otherwise
     permitted in the Credit Agreement, not, without providing 30 days prior
     written notice to the Agent, or, with respect to Spare Parts, without
     satisfying the notice requirements contained in Section 5(i) hereof, and
     without filing (or confirming that the Agent has filed) such amendments to
     any previously filed financing statements or filings with the FAA as the
     Agent may require, (i) alter its corporate existence or, in one transaction
     or a series of transactions, merge into or consolidate with any other
     entity, or sell all or substantially all of its assets, (ii) change its
     state of incorporation or formation, (iii) change its registered corporate
     name, (iv) change the location of its chief executive office and chief
     place of business (as well as its books and records) from the locations set
     forth on Schedule 6.7 to the Credit Agreement or (v) change the location of
     its Collateral from the locations set forth for such Credit Party on the
     reports provided pursuant to Section 7.2 of the Credit Agreement (except
     for Spare Part fly away kits stored on Leased Aircraft).

          (e) Inspection. Allow the Agent or its representatives to visit and
     inspect the Collateral as set forth in Section 7.7 of the Credit Agreement.
     The Credit Parties shall be responsible for all required inspections of
     Spare Parts and licensing or re-licensing of the same in accordance with
     all applicable FAA and other governmental requirements. All inspections,
     maintenance, modifications, repairs, and overhauls of any Spare Parts shall
     be performed by personnel authorized by the FAA to perform such services to
     the extent required under the FAA Act.

<PAGE>

          (f) Perfection of Security Interest. Such Credit Party hereby
     authorizes the Agent to prepare and file such financing statements
     (including continuation statements and in lieu statements) or amendments
     thereof or supplements thereto, FAA filings or registrations or amendments
     thereof or supplements thereto, including, but not limited to, filing a
     copy of this Security Agreement with the FAA in Oklahoma City, Oklahoma (or
     at such other office as the FAA may designate), or other instruments as the
     Agent may from time to time deem necessary or appropriate to perfect and
     maintain the security interests granted hereunder in accordance with the
     UCC and/or the FAA Act, subject to Permitted Liens, to ensure the first
     priority of such security interests. Any financing statement or FAA filing
     or registration filed by the Agent may contain a general description of the
     collateral covered thereby, as permitted by the UCC and/or the FAA Act,
     which states that the security interest attaches to all personal property
     or to all assets, and, in the case of an FAA filing, all Spare Parts
     located at a specified Spare Parts Location, of the debtor. Such Credit
     Party shall from time to time upon request by the Agent also execute and
     deliver to the Agent such agreements, assignments or instruments (including
     affidavits, notices, reaffirmations and amendments and restatements of
     existing documents, as the Agent may reasonably request, except that no
     title certificates are required to reflect a Lien in favor of the Agent)
     and do all such other things as the Agent may reasonably deem necessary or
     appropriate (i) to assure the Agent that its security interests hereunder
     are perfected and, subject to Permitted Liens, of the first priority,
     including, without limitation, (A) such financing statements (including
     continuation statements and in lieu statements) or amendments thereof or
     supplements thereto, FAA filings or registrations or amendments thereto or
     supplements thereof, or other instruments as the Agent may from time to
     time reasonably request in order to perfect and maintain the security
     interests granted hereunder and to ensure the first priority (subject to
     Permitted Liens) thereof in accordance with the UCC and/or the FAA Act, (B)
     with regard to Copyrights, a Notice of Grant of Security Interest in
     Copyrights for filing with the United States Copyright Office in the form
     of Schedule 5(f)(i) attached hereto, (C) with regard to Patents, a Notice
     of Grant of Security Interest in Patents for filing with the United States
     Patent and Trademark Office in the form of Schedule 5(f)(ii) attached
     hereto and (D) with regard to Trademarks, a Notice of Grant of Security
     Interest in Trademarks for filing with the United States Patent and
     Trademark Office in the form of Schedule 5(f)(iii) attached hereto, (ii) to
     consummate the transactions contemplated hereby and (iii) to otherwise
     protect and assure the Agent of its rights and interests hereunder. In the
     event for any reason the law of any jurisdiction other than Georgia or the
     United States (with respect to Spare Parts) becomes or is applicable to the
     Collateral of any Credit Party or any part thereof, or to any of the
     Secured Obligations, such Credit Party agrees from time to time upon
     request of the Agent to execute and deliver all such instruments and to do
     all such other things as the Agent in its sole discretion deems necessary
     or appropriate to preserve, protect and enforce the security interests of
     the Agent and the first priority thereof (subject to Permitted Liens) under
     the law of such other jurisdiction (and, if such Credit Party shall fail to
     do so promptly upon the request of the Agent, then the Agent may execute
     any and all such requested documents on behalf of such Credit Party
     pursuant to the power of attorney granted hereinabove). Such Credit Party
     agrees to mark its books and records, or, if such books and records are in

<PAGE>

     electronic form, note electronically within such books and records in a
     manner sufficient, to reflect the security interest of the Agent in the
     Collateral.

          (g) Collateral Held by Warehouseman, Bailee, etc. If any Collateral is
     at any time in the possession or control of a warehouseman, bailee or any
     agent or processor of such Credit Party, (i) notify the Agent of such
     possession, (ii) notify such Person of the Agent's security interest for
     the benefit of the Agent and the Lenders in such Collateral, (iii) instruct
     such Person to hold all such Collateral for the Agent's account subject to
     the Agent's instructions and (iv) obtain (or, use commercially reasonable
     efforts to obtain) an Acknowledgment Agreement from such Person; provided
     that, if any Spare Parts are in the possession or control of a
     warehouseman, bailee or any Agent or processor, such Credit Party shall
     comply with Section 5(i) below.

          (h) Treatment of Accounts. (i) Comply with all provisions of the
     Credit Agreement relating to the establishment and maintenance of the
     Collection Accounts and the Cash Concentration Accounts, (ii) comply with
     all reporting requirements set forth in the Credit Agreement with respect
     to Accounts, (iii) not grant or extend the time for payment of any Account,
     or compromise or settle any Account for less than the full amount thereof,
     or release any person or property, in whole or in part, from payment
     thereof, or allow any credit or discount thereon, other than as normal and
     customary in the ordinary course of such Credit Party's business, (iv)
     maintain at its principal place of business a record of Accounts consistent
     with its customary business practices, (v) upon the occurrence and during
     the continuation of any Event of Default, set aside and hold as trustee for
     the Agent any merchandise which is returned by a customer or account debtor
     or otherwise recovered. Unless and until an Event of Default occurs and is
     continuing, such Credit Party may settle and adjust disputes and claims
     with its customers and account debtors, handle returns and recoveries and
     grant discounts, credits and allowances in the ordinary course of its
     business as presently conducted and otherwise for amounts and on terms
     which such Credit Party in good faith considers advisable. However, upon
     the occurrence of any Event of Default and during the continuation thereof,
     if so instructed by the Agent, such Credit Party shall settle and adjust
     disputes and claims, at no expense to the Agent, but no discount, credit or
     allowance other than on normal trade terms in the ordinary course of
     business shall be granted to any customer or account debtor and no returns
     of merchandise shall be accepted by such Credit Party without the Agent's
     consent. The Agent may (but shall not be required to), at all times upon
     the occurrence of any Event of Default and during the continuation thereof,
     settle or adjust disputes and claims directly with customers or account
     debtors for amounts and upon terms which the Agent considers advisable.

          (i) Covenants relating to Spare Parts.

               (i) Except as provided in this paragraph and Section 5(i)(ii)
          below, neither move nor relocate any Collateral constituting Spare
          Parts from any Spare Parts Location to any other location that is not
          a Spare Parts Location (each such location, a "Non-Designated
          Location"), provided that any Credit Party may move or otherwise
          relocate such Spare Parts to a Non-Designated Location only to the
          extent and for so long as such parts are (i) located in or on Leased
          Aircraft subject

<PAGE>

          to a Spare Parts Agreement or with respect to which such Credit Party
          at the request of the Agent with reasonable promptness of such
          request, commences and uses commercially reasonable efforts to obtain
          an acceptable Spare Parts Agreement, or (ii) if not on a Leased
          Aircraft, at a location tracked on the report delivered pursuant to
          Section 7.2 of the Credit Agreement, subject to the Credit Party's
          obligation under subsection (ii) below. The Collateral constituting
          Spare Parts shall be maintained by or on behalf of World Airways or
          North American at all times.

               (ii) Upon (i) any Credit Party's acquiring rights after the date
          hereof in or to any Collateral constituting Spare Parts which are at
          such time located or intended to be located at any Non-Designated
          Location or (ii) the movement of any Collateral constituting Spare
          Parts to any Non-Designated Location (except, in any such instances
          under clauses (i) or (ii), as may otherwise be expressly permitted in
          Section 5(i)(i) above), such Credit Party shall, to the extent not
          otherwise provided in the reports delivered to the Agent pursuant to
          Section 7.2 of the Credit Agreement, promptly execute and deliver to
          the Agent a written notice in form and substance reasonably
          satisfactory to the Agent (containing a written acknowledgment
          signature block for the Agent) describing in reasonable detail such
          event, the Credit Party acquiring such Spare Parts (if applicable),
          such Spare Parts and such Non-Designated Location (each such notice,
          an "Additional Spare Parts Location Notice") and, upon receipt and
          acknowledgment by the Agent of the report delivered pursuant to
          Section 7.2 or any Additional Spare Parts Location Notice, (x) each
          Non-Designated Location specified therein shall be (and shall be
          deemed to be) a "Spare Parts Location" (as defined in this Security
          Agreement) in all respects and for all purposes and (y) Schedule 4(b)
          to this Security Agreement shall be (and shall be deemed to be)
          amended and supplemented in all respects to include such
          Non-Designated Location as a Spare Parts Location thereunder, all
          without further action of any other Person. Such Credit Party shall,
          in addition to executing and delivering any agreement, instrument or
          document and taking such other action required under or requested by
          the Agent in accordance with this Security Agreement, execute and
          deliver to the Agent, in each case in form and substance reasonably
          satisfactory to the Agent, (1) a supplement so as to provide, upon the
          filing of such supplement with the FAA, the Agent with a first
          priority perfected Lien in and to any Spare Parts kept at any such
          Spare Parts Location (each such supplement, a "Supplement") and (2)
          any other agreement, instrument or document evidencing any amendment
          or supplement to Schedule 4(b), including, but not limited to, as
          required by Section 5(g) hereto, in respect of (i) the report provided
          pursuant to Section 7.2, or (ii) any Additional Spare Parts Location
          Notice.

               (iii) Upon any Credit Party becoming aware of the assignment of
          an Aircraft Lease Agreement by the lessor thereunder, such Credit
          Party shall promptly notify the Agent of such assignment and shall
          provide the Agent with the name and address of the assignee of such
          Aircraft Lease Agreement.

<PAGE>

          (j) Covenants Relating to Inventory.

               (i) Maintain, keep and preserve its Inventory in usable condition
          at its own cost and expense, in accordance with the provisions of the
          Credit Agreement.

               (ii) Comply with all reporting requirements set forth in the
          Credit Agreement with respect to Inventory.

          (k) Covenants Relating to Copyrights.

     Unless such Credit Party believes it is necessary or appropriate in the
prudent conduct of its business to do or not do any such thing:

               (i) Employ the Copyright for each Work with such notice of
          copyright as may be required by law to secure copyright protection.

               (ii) Not do any act or knowingly omit to do any act whereby any
          material Copyright may become invalidated and (A) not do any act, or
          knowingly omit to do any act, whereby any material Copyright may
          become injected into the public domain; (B) notify the Agent promptly
          if it knows, or has reason to know, that any material Copyright may
          become injected into the public domain or of any adverse determination
          or development (including, without limitation, the institution of, or
          any such determination or development in, any court or tribunal in the
          United States or any other country) regarding such Credit Party's
          ownership of any such Copyright or its validity; (C) take all
          necessary steps as it shall deem appropriate under the circumstances,
          to maintain and pursue each application (and to obtain the relevant
          registration) and to maintain each registration of each material
          Copyright owned by such Credit Party including, without limitation,
          filing of applications for renewal where necessary; and (D) promptly
          notify the Agent of any material infringement of any material
          Copyright of such Credit Party of which it becomes aware and take such
          actions as it shall reasonably deem appropriate under the
          circumstances to protect such Copyright, including, where appropriate,
          the bringing of suit for infringement, seeking injunctive relief and
          seeking to recover any and all damages for such infringement.

               (iii) Not make any assignment or agreement in conflict with the
          security interest in the Copyrights of such Credit Party hereunder.

          (l) Covenants Relating to Patents and Trademarks.

               Unless such Credit Party believes it is necessary or appropriate
     in the prudent conduct of its business to do or not do any such thing:

               (i) (A) Continue to use each Trademark on each and every
          trademark class of goods applicable to its current line as reflected
          in its current catalogs, brochures and price lists to maintain such
          Trademark in full force free from any claim of abandonment for
          non-use, (B) maintain as in the past the quality of products and
          services offered under such Trademark, (C) employ such Trademark

<PAGE>

          with the appropriate notice of registration, (D) not adopt or use any
          mark which is confusingly similar or a colorable imitation of such
          Trademark unless the Agent, for the benefit of the Lenders, shall
          obtain a perfected security interest in such mark pursuant to this
          Security Agreement, (E) not (and not permit any licensee or
          sublicensee thereof to) do any act or knowingly omit to do any act
          whereby any Trademark may become invalidated and (F) do or cause to be
          done all other things necessary to preserve and keep in full effect
          all Trademarks material to the conduct of such Credit Party's
          business.

               (ii) Not do any act, or omit to do any act, whereby any Patent
          may become abandoned or dedicated.

               (iii) Promptly notify the Agent if it knows, or has reason to
          know, that any application or registration relating to any Patent or
          Trademark may become abandoned or dedicated, or of any adverse
          determination or development (including, without limitation, the
          institution of, or any such determination or development in, any
          proceeding in the United States Patent and Trademark Office or any
          court or tribunal in any country) regarding such Credit Party's
          ownership of any such Patent or Trademark or its right to register the
          same or to keep, maintain and use the same.

               (iv) Whenever such Credit Party, either by itself or through an
          agent, employee, licensee or designee, shall file an application for
          the registration of any Patent or Trademark with the United States
          Patent and Trademark Office or any similar office or agency in any
          other country or any political subdivision thereof, such Credit Party
          shall report such filing to the Agent and the Lenders within five
          Business Days after the last day of the fiscal quarter in which such
          filing occurs. Upon request of the Agent, such Credit Party shall
          execute and deliver any and all agreements, instruments, documents and
          papers as the Agent may request to evidence the Agent's and the
          Lenders' security interest in any Patent or Trademark and the goodwill
          and general intangibles of such Credit Party relating thereto or
          represented thereby.

               (v) Take all reasonable and necessary steps, including, without
          limitation, in any proceeding before the United States Patent and
          Trademark Office, or any similar office or agency in any other country
          or any political subdivision thereof, to maintain and pursue each
          application (and to obtain the relevant registration) and to maintain
          each registration of the Patents and Trademarks, including, without
          limitation, filing of applications for renewal, affidavits of use and
          affidavits of incontestability.

               (vi) Promptly notify the Agent and the Lenders after it learns
          that any Patent or Trademark included in the Collateral is infringed,
          misappropriated or diluted by a third party and promptly sue for
          infringement, misappropriation or dilution, to seek injunctive relief
          where appropriate and to recover any and all damages for such
          infringement, misappropriation or dilution, or take such other

<PAGE>

          actions as it shall reasonably deem appropriate under the
          circumstances to protect such Patent or Trademark.

               (vii) Not make any assignment or agreement in conflict with the
          security interest in the Patents or Trademarks of such Credit Party
          created hereunder or under any other Credit Document.

          (m) New Patents, Copyrights and Trademarks. Quarterly, within five (5)
     Business Days after the last day of each fiscal quarter, provide the Agent
     with (i) a listing of all applications, if any, for new Copyrights, Patents
     or Trademarks (together with a listing of the issuance of registrations or
     letters on present applications), which new applications and issued
     registrations or letters shall be subject to the terms and conditions
     hereunder, and (ii) (A) with respect to Copyrights, a duly executed Notice
     of Grant of Security Interest in Copyrights, (B) with respect to Patents, a
     duly executed Notice of Grant of Security Interest in Patents, (C) with
     respect to Trademarks, a duly executed Notice of Grant of Security Interest
     in Trademarks or (D) such other duly executed documents as the Agent may
     request in a form acceptable to the Agent and such Credit Party and
     suitable for recording to evidence the security interest in the Copyright,
     Patent or Trademark which is the subject of such new application.

          (n) Commercial Tort Claims; Notice of Litigation. (i) Quarterly,
     within five (5) Business Days after the last day of each fiscal quarter,
     forward to the Agent written notification of any and all Commercial Tort
     Claims, including, but not limited to, any and all actions, suits, and
     proceedings before any court or Governmental Authority by such Credit Party
     and (ii) execute and deliver such statements, documents and notices and do
     and cause to be done all such things as may be required by the Agent, or
     required by law, including all things which may from time to time be
     necessary under the UCC to fully create, preserve, perfect and protect the
     priority of the Agent's security interest in any Commercial Tort Claims.

          (o) Bank Accounts. At all times, maintain the Collection Accounts and
     the Cash Concentration Accounts and any replacement or successor accounts
     relating thereto in accordance with the terms of the Deposit Account
     Control Agreements and the Credit Agreement, as applicable, and cause all
     amounts received by such Credit Party to be deposited into the applicable
     Collection Account or Cash Concentration Account, as the case may be, and
     to be applied as set forth in the applicable Deposit Account Control
     Agreement and the Credit Agreement, as appropriate. All amounts on deposit
     in the Collection Accounts, the Cash Concentration Accounts and any
     replacement or successor account relating thereto shall be subject to the
     Lien of the Agent hereunder.

          (p) Insurance. Insure, repair and replace the Collateral of such
     Credit Party as set forth in the Credit Agreement. All insurance proceeds
     shall be subject to the security interest of the Agent hereunder and shall
     be applied by the Agent or retained by such Credit Party as provided in the
     Credit Agreement.

<PAGE>

          (q) Covenants Relating to the Assigned Agreements.

               (i) Upon the reasonable request of the Agent, such Credit Party
          shall, at its expense, (A) furnish to the Agent copies of all material
          notices, requests and other documents received by such Credit Party
          under or pursuant to the material Assigned Agreements, and such other
          material information and reports regarding the Assigned Agreements and
          (B) upon the occurrence of and during the continuance of an Event of
          Default, make to any other party to any Assigned Agreement such
          demands and requests for information and reports or for action as such
          Credit Party is entitled to make thereunder.

               (ii) Unless such Credit Party believes it is necessary or
          appropriate in the prudent conduct of its business, such Credit Party
          shall not (A) cancel or terminate any Assigned Agreement of such
          Credit Party or consent to or accept any cancellation or termination
          thereof; (B) amend or otherwise modify any Assigned Agreement of such
          Credit Party or give any consent, waiver or approval thereunder; (C)
          waive any default under or breach of any Assigned Agreement of such
          Credit Party; or (D) take any other action in connection with any
          Assigned Agreement of such Credit Party which would impair the value
          of the interest or rights of such Credit Party thereunder or which
          would impair the interests or rights of the Agent.

     6. Special Provisions Relating to Accounts. Anything herein to the contrary
notwithstanding, as amongst the Agent, the Lenders and the Credit Parties, each
of the Credit Parties shall remain liable under each of the Accounts to observe
and perform all the conditions and obligations to be observed and performed by
it thereunder, all in accordance with the terms of any agreement giving rise to
each such Account. Neither the Agent nor any Lender shall have any obligation or
liability under any Account (or any agreement giving rise thereto) by reason of
or arising out of this Security Agreement or the receipt by the Agent or any
Lender of any payment relating to such Account pursuant hereto, nor shall the
Agent or any Lender be obligated in any manner to perform any of the obligations
of a Credit Party under or pursuant to any Account (or any agreement giving rise
thereto), to make any payment, to make any inquiry as to the nature or the
sufficiency of any payment received by it or as to the sufficiency of any
performance by any party under any Account (or any agreement giving rise
thereto), to present or file any claim, to take any action to enforce any
performance or to collect the payment of any amounts which may have been
assigned to it or to which it may be entitled at any time or times.

     7. Special Provisions Regarding Inventory.

          (a) Notwithstanding anything to the contrary contained in this
     Security Agreement, each Credit Party may, unless and until an Event of
     Default occurs and is continuing and the Agent instructs such Credit Party
     otherwise, without further consent or approval of the Agent, use, consume,
     sell, rent, lease and exchange the Inventory in the ordinary course of its
     business as presently conducted, whereupon, in the case of such a sale or
     exchange, the security interest created hereby in the Inventory so sold or
     exchanged (but not in any proceeds arising from such sale or exchange)
     shall cease immediately without any further action on the part of the
     Agent.

<PAGE>

          (b) Upon the Lenders' making any Loan pursuant to the Credit Agreement
     or the Issuing Bank issuing any Letter of Credit pursuant to the Credit
     Agreement, each Credit Party shall be deemed to have warranted, subject to
     any limitations set forth in the Credit Agreement, that all warranties of
     such Credit Party set forth in this Security Agreement with respect to its
     Inventory are true and correct in all material respects with respect to
     such Inventory, including without limitation that such Inventory is located
     at a location set forth on Schedule 6.7 to the Credit Agreement.

     8. Performance of Obligations; Advances by Agent. On failure of any Credit
Party to perform any of the covenants and agreements contained herein, the Agent
may, at its sole option and in its sole discretion, perform or cause to be
performed the same and in so doing may (but shall have no obligation to do so)
expend such sums as the Agent may reasonably deem advisable in the performance
thereof, including, without limitation, the payment of any insurance premiums
(upon prior written notice to the applicable Credit Parties), the payment of any
taxes (except to the extent such payment is being contested in good faith by a
Credit Party in appropriate proceedings and against which adequate reserves are
being maintained in accordance with GAAP), a payment to obtain a release of a
Lien or potential Lien (other than a Permitted Lien), expenditures made in
defending against any adverse claim (other than a Permitted Lien) and all other
expenditures which the Agent or the Lenders may make for the protection of the
security interest hereof or may be compelled to make by operation of law. All
such sums and amounts so expended shall be repayable by the Credit Parties on a
joint and several basis promptly upon timely notice thereof and demand therefor,
shall constitute additional Secured Obligations and shall bear interest from the
date said amounts are expended at the default rate set forth in Section 4.2 of
the Credit Agreement for Revolving Loans that are Base Rate Loans. No such
performance of any covenant or agreement by the Agent or the Lenders on behalf
of any Credit Party, and no such advance or expenditure therefor, shall relieve
the Credit Parties of any default under the terms of this Security Agreement,
the other Credit Documents or any Lender Hedging Agreement or any agreement
pertaining to Bank Products. The Agent may make any payment hereby authorized in
accordance with any bill, statement or estimate procured from the appropriate
public office or holder of the claim to be discharged without inquiry into the
accuracy of such bill, statement or estimate or into the validity of any tax
assessment, sale, forfeiture, tax lien, title or claim except to the extent such
payment is being contested in good faith by a Credit Party in appropriate
proceedings and against which adequate reserves are being maintained in
accordance with GAAP.

     9. Events of Default.

          An Event of Default under the Credit Agreement shall be an Event of
Default hereunder (an "Event of Default").

     10. Remedies.

          (a) General Remedies. Upon the occurrence of an Event of Default and
     during continuation thereof, the Agent and the Lenders shall have, in
     addition to the rights and remedies provided herein, in the Credit
     Documents, or (as to any Lender or its affiliate that is party thereto) in
     any Lender Hedging Agreement or in any agreement pertaining to Bank
     Products or by law (including, but not limited to, levy of attachment,
<PAGE>

     garnishment and the rights and remedies set forth in the Uniform Commercial
     Code of the jurisdiction applicable to the affected Collateral), the rights
     and remedies of a secured party under the UCC (regardless of whether the
     UCC is the law of the jurisdiction where the rights and remedies are
     asserted and regardless of whether the UCC applies to the affected
     Collateral) the rights and remedies of a secured party under the FAA Act,
     and further, the Agent may, with or without judicial process or the aid and
     assistance of others, (i) enter on any premises (including, but not limited
     to, Leased Aircraft, subject to the provisions of any Spare Parts
     Agreements then in effect) on which any of the Collateral may be located
     and, without resistance or interference by the Credit Parties, take
     possession of the Collateral, (ii) dispose of any Collateral on any such
     premises (including, but not limited to, Leased Aircraft, subject to the
     provisions of any Spare Parts Agreements then in effect), (iii) require the
     Credit Parties to assemble and make available to the Agent at the expense
     of the Credit Parties any Collateral at any place and time designated by
     the Agent which is reasonably convenient to both parties, subject to the
     provisions of any Spare Parts Agreements then in effect, (iv) remove any
     Collateral from any such premises (including, but not limited to, Leased
     Aircraft, subject to the provisions of any Spare Parts Agreements then in
     effect) for the purpose of effecting sale or other disposition thereof,
     and/or (v) without demand and without advertisement, notice, hearing or
     process of law, all of which each of the Credit Parties hereby waives to
     the fullest extent permitted by law, at any place and time or times, sell
     and deliver any or all Collateral held by or for it at public or private
     sale, by one or more contracts, in one or more parcels, for cash, upon
     credit or otherwise, at such prices and upon such terms as the Agent deems
     advisable, in its sole discretion. Neither the Agent's compliance with any
     applicable state or federal law in the conduct of such sale, nor its
     disclaimer of any warranties relating to the Collateral shall be considered
     to affect the commercial reasonableness of such sale, except to the extent
     required by law. In addition to all other sums due the Agent and the
     Lenders with respect to the Secured Obligations, the Credit Parties shall
     pay the Agent and each of the Lenders all costs and expenses incurred by
     the Agent or any such Lender, including, but not limited to, reasonable
     attorneys' fees actually incurred and court costs, in obtaining or
     liquidating the Collateral, in enforcing payment of the Secured
     Obligations, or in the prosecution or defense of any action or proceeding
     by or against the Agent or the Lenders or the Credit Parties concerning any
     matter arising out of or connected with this Security Agreement, any
     Collateral or the Secured Obligations, including, without limitation, any
     of the foregoing arising in, arising under or related to a case under any
     bankruptcy, insolvency or similar law. To the extent the rights of notice
     cannot be legally waived hereunder, each Credit Party agrees that any
     requirement of reasonable notice shall be met if such notice is personally
     served on or mailed, postage prepaid, to the Credit Parties in accordance
     with the notice provisions of Section 14.4 of the Credit Agreement at least
     ten (10) days before the time of sale or other event giving rise to the
     requirement of such notice. The Agent and the Lenders shall not be
     obligated to make any sale or other disposition of the Collateral
     regardless of notice having been given. To the extent permitted by law, the
     Agent and any Lender may be a purchaser at any such sale. To the extent
     permitted by applicable law, each of the Credit Parties hereby waives all
     of its rights of redemption with respect to any such sale. Subject to the
     provisions of applicable law, the Agent and the Lenders may postpone or
     cause the postponement of the sale of all or any portion of the Collateral
     by

<PAGE>

     announcement at the time and place of such sale, and such sale may, without
     further notice, to the extent permitted by law, be made at the time and
     place to which the sale was postponed, or the Agent and the Lenders may
     further postpone such sale by announcement made at such time and place.

          (b) Remedies Relating to Accounts. Upon the occurrence of an Event of
     Default and during the continuation thereof, whether or not the Agent has
     exercised any or all of its rights and remedies hereunder, the Agent shall
     have the right to (i) enforce any Credit Party's rights against any account
     debtors and obligors on such Credit Party's Accounts (ii) notify (or cause
     its designee to notify) any Credit Party's customers and account debtors
     that the Accounts of such Credit Party have been assigned to the Agent or
     of the Agent's security interest therein, (iii) (either in its own name or
     in the name of a Credit Party or both) demand, collect, receive, take
     receipt for, sell, sue for, compound, settle, compromise and give
     acquittance for any and all amounts due or to become due on any Account,
     and (iv) in the Agent's discretion, file any claim or take any other action
     or proceeding to protect and realize upon the security interest of the
     Lenders in the Accounts. Each Credit Party acknowledges and agrees that the
     Proceeds of its Accounts remitted to or on behalf of the Agent in
     accordance with the provisions hereof shall be solely for the Agent's own
     convenience and that such Credit Party shall not have any right, title or
     interest in such Proceeds or in any such other amounts except as expressly
     provided herein. The Agent and the Lenders shall have no liability or
     responsibility to any Credit Party for acceptance of a check, draft or
     other order for payment of money bearing the legend "payment in full" or
     words of similar import or any other restrictive legend or endorsement or
     be responsible for determining the correctness of any remittance. The Agent
     shall have no obligation to apply or give credit for any item included in
     proceeds of Accounts or other Collateral until the applicable Collection
     Bank has received final payment therefor at its offices in cash. However,
     if the Agent does permit credit to be given for any item prior to a
     Collection Bank receiving final payment therefor and such Collection Bank
     fails to receive such final payment or an item is charged back to the Agent
     or any Collection Bank for any reason, the Agent may at its election in
     either instance charge the amount of such item back against any such
     Collection Accounts, together with interest thereon at a rate per annum
     equal to the Default Rate set forth in Section 4.2 of the Credit Agreement.
     Each Credit Party hereby agrees to indemnify the Agent and the Lenders from
     and against all liabilities, damages, losses, actions, claims, judgments,
     costs, expenses, charges and reasonable attorneys' fees suffered or
     actually incurred by the Agent or the Lenders (each, an "Indemnified
     Party") because of the maintenance of the foregoing arrangements except as
     relating to or arising out of the gross negligence or willful misconduct of
     an Indemnified Party or its officers, employees or agents or an Indemnified
     Party's breach of this Security Agreement or any Credit Documents in any
     material respect. In the case of any investigation, litigation or other
     proceeding, the foregoing indemnity shall be effective whether or not such
     investigation, litigation or proceeding is brought by a Credit Party, its
     directors, shareholders or creditors or an Indemnified Party or any other
     Person or any other Indemnified Party is otherwise a party thereto. The
     Agent shall have no liability or responsibility to any Credit Party for a
     Collection Bank accepting any check, draft or other order for payment of
     money bearing the legend "payment in full" or words of similar import or
     any other restrictive legend or endorsement whatsoever or be responsible
     for determining the

<PAGE>

     correctness of any remittance (it being understood that this sentence shall
     in no way affect the liability or responsibility of any such Collection
     Bank).

          (c) Access. In addition to the rights and remedies hereunder, upon the
     occurrence of an Event of Default and during the continuation thereof, the
     Agent shall have the right to enter and remain upon the various premises
     (including, but not limited to, Leased Aircraft, but subject to the
     provisions of any applicable Spare Parts Agreements) of the Credit Parties
     without cost or charge to the Agent, and use the same, together with
     materials, supplies, books and records of the Credit Parties for the
     purpose of collecting and liquidating the Collateral, or for preparing for
     sale and conducting the sale of the Collateral, whether by foreclosure,
     auction or otherwise. In addition, the Agent may remove Collateral, or any
     part thereof, from such premises and/or any records with respect thereto,
     but subject to the provisions of any applicable Spare Parts Agreements, in
     order to effectively collect or liquidate such Collateral. If the Agent
     exercises its right to take possession of the Collateral, each Credit Party
     shall also at its expense perform any and all other steps reasonably
     requested by the Agent to preserve and protect the security interest hereby
     granted in the Collateral, such as placing and maintaining signs indicating
     the security interest of the Agent, appointing overseers for the Collateral
     and maintaining inventory records.

          (d) Nonexclusive Nature of Remedies. Failure by the Agent or the
     Lenders to exercise any right, remedy or option under this Security
     Agreement, any other Credit Document, any Lender Hedging Agreement or any
     agreement pertaining to Bank Products or as provided by law, or any delay
     by the Agent or the Lenders in exercising the same, shall not operate as a
     waiver of any such right, remedy or option. No waiver hereunder shall be
     effective unless it is in writing, signed by the party against whom such
     waiver is sought to be enforced and then only to the extent specifically
     stated, which in the case of the Agent or the Lenders shall only be granted
     as provided herein. To the extent permitted by law, neither the Agent, the
     Lenders, nor any party acting as attorney for the Agent or the Lenders,
     shall be liable hereunder for any acts or omissions or for any error of
     judgment or mistake of fact or law other than their gross negligence or
     willful misconduct hereunder and other than the breach of this Security
     Agreement or any other Credit Documents in any material respect. The rights
     and remedies of the Agent and the Lenders under this Security Agreement
     shall be cumulative and not exclusive of any other right or remedy which
     the Agent or the Lenders may have.

          (e) Retention of Collateral. The Agent may, after providing the
     notices required by Section 9-620 of the UCC or otherwise complying with
     the requirements of applicable law of the relevant jurisdiction, accept or
     retain the Collateral in full or partial satisfaction of the Secured
     Obligations. Unless and until the Agent shall have provided such notices,
     however, the Agent shall not be deemed to have retained any Collateral in
     satisfaction of any Secured Obligations for any reason.

          (f) Deficiency. In the event that the proceeds of any sale, collection
     or realization are insufficient to pay all amounts to which the Agent or
     the Lenders are legally entitled, the Credit Parties shall be jointly and
     severally liable for the deficiency, together with interest thereon at the
     Default Rate set forth in Section 4.2 of the Credit

<PAGE>

     Agreement, together with the costs of collection and the reasonable fees of
     any attorneys actually incurred employed by the Agent to collect such
     deficiency. Any surplus remaining after the full payment and satisfaction
     of the Secured Obligations shall be returned to the Credit Parties or to
     whomsoever a court of competent jurisdiction shall determine to be entitled
     thereto.

          (g) Other Security. To the extent that any of the Secured Obligations
     are now or hereafter secured by property other than the Collateral
     (including, without limitation, real and personal property owned by a
     Credit Party), or by a guarantee, endorsement or property of any other
     Person, then the Agent and the Lenders shall have the right to proceed
     against such other property, guarantee or endorsement upon the occurrence
     of any Event of Default, and the Agent and the Lenders have the right, in
     their sole discretion, to determine which rights, security, liens, security
     interests or remedies the Agent and the Lenders shall at any time pursue,
     relinquish, subordinate, modify or take with respect thereto, without in
     any way modifying or affecting any of them or any of the Agent's and the
     Lenders' rights or the Secured Obligations under this Security Agreement,
     under any other of the Credit Documents or under any Lender Hedging
     Agreement or agreement pertaining to Bank Products (to the extent the
     obligations of such Credit Party thereunder constitute Secured
     Obligations).

     11. Rights of the Agent.

          (a) Power of Attorney. Each Credit Party hereby designates and
     appoints the Agent, on behalf of the Lenders, and each of its designees or
     agents, as attorney-in-fact of such Credit Party, irrevocably and with
     power of substitution, with authority to take any or all of the following
     actions upon the occurrence and during the continuation of an Event of
     Default:

               (i) to demand, collect, settle, compromise, adjust, give
          discharges and releases, all as the Agent may reasonably determine;

               (ii) to commence and prosecute any actions at any court for the
          purposes of collecting any Collateral and enforcing any other right in
          respect thereof;

               (iii) to defend, settle, adjust or compromise any action, suit or
          proceeding brought and, in connection therewith, give such discharge
          or release as the Agent may deem reasonably appropriate;

               (iv) to receive, open and dispose of mail addressed to a Credit
          Party and endorse checks, notes, drafts, acceptances, money orders,
          bills of lading, warehouse receipts or other instruments or documents
          evidencing payment, shipment or storage of the goods giving rise to
          the Collateral of such Credit Party, or securing or relating to such
          Collateral, on behalf of and in the name of such Credit Party;

               (v) to sell, assign, transfer, make any agreement in respect of,
          or otherwise deal with or exercise rights in respect of, any
          Collateral or the goods or

<PAGE>

          services which have given rise thereto, as fully and completely as
          though the Agent were the absolute owner thereof for all purposes;

               (vi) to adjust and settle claims under any insurance policy
          relating thereto;

               (vii) to execute and deliver all assignments, conveyances,
          statements, financing statements, continuation financing statements,
          FAA filings or registrations, security agreements, affidavits, notices
          and other agreements, instruments and documents that the Agent may
          determine necessary in order to perfect and maintain the security
          interests and liens granted in this Security Agreement and in order to
          fully consummate all of the transactions contemplated herein;

               (viii) to institute any foreclosure proceedings that the Agent
          may deem appropriate; and

               (ix) to do and perform all such other acts and things as the
          Agent may reasonably deem to be necessary, proper or convenient in
          connection with the Collateral.

     This power of attorney is a power coupled with an interest and shall be
     irrevocable until all Credit and Collateral Termination Events have
     occurred. The Agent shall be under no duty to exercise or withhold the
     exercise of any of the rights, powers, privileges and options expressly or
     implicitly granted to the Agent in this Security Agreement, and shall not
     be liable for any failure to do so or any delay in doing so. The Agent
     shall not be liable for any act or omission or for any error of judgment or
     any mistake of fact or law in its individual capacity or its capacity as
     attorney-in-fact except acts or omissions resulting from its gross
     negligence or willful misconduct or breaches of this Security Agreement or
     any other Credit Documents in any material respect. This power of attorney
     is conferred on the Agent solely to protect, preserve and realize upon its
     security interest in the Collateral.

          Assignment by the Agent. Subject to the terms of the Credit Agreement,
     the Agent may from time to time assign the Secured Obligations and any
     portion thereof and/or the Collateral and any portion thereof, and the
     assignee shall be entitled to all of the rights and remedies of the Agent
     under this Security Agreement in relation thereto.

          (b) The Agent's Duty of Care. Other than the exercise of reasonable
     care to assure the safe custody of the Collateral while being held by the
     Agent hereunder, the Agent shall have no duty or liability to preserve
     rights pertaining thereto, it being understood and agreed that the Credit
     Parties shall be responsible for preservation of all rights in the
     Collateral, and the Agent shall be relieved of all responsibility for the
     Collateral upon surrendering it or tendering the surrender of it to the
     Credit Parties. The Agent shall be deemed to have exercised reasonable care
     in the custody and preservation of the Collateral in its possession if the
     Collateral is accorded treatment substantially equal to that which the
     Agent accords its own property, which shall be no less than the

<PAGE>

     treatment employed by a reasonable and prudent agent in the industry, it
     being understood that the Agent shall not have responsibility for taking
     any necessary steps to preserve rights against any parties with respect to
     any of the Collateral. In the event of a public or private sale of
     Collateral pursuant to Section 10 hereof, the Agent shall have no
     obligation to clean-up, repair or otherwise prepare the Collateral for
     sale.

     12. Application of Proceeds. Any amounts on deposit in the Collection
Accounts, the Cash Concentration Accounts, or any other deposit account over
which the Agent has Control, and any replacement or successor accounts relating
thereto, as applicable, shall be applied by the Agent in accordance with the
terms of the Credit Agreement and the Deposit Account Control Agreement relating
thereto. Upon the occurrence and during the continuation of an Event of Default,
any payments in respect of the Secured Obligations and any proceeds of the
Collateral, when received by the Agent or any of the Lenders in cash or its
equivalent, will be applied in reduction of the Secured Obligations in the order
set forth in Section 2.8 of the Credit Agreement, and each Credit Party
irrevocably waives the right to direct the application of such payments and
proceeds and acknowledges and agrees that the Agent shall have the continuing
and exclusive right to apply and reapply any and all such payments and proceeds
in the Agent's sole discretion, notwithstanding any entry to the contrary upon
any of its books and records.

     13. Costs of Counsel. If at any time hereafter, whether upon the occurrence
of an Event of Default or not, the Agent employs counsel to prepare or consider
amendments, waivers or consents with respect to this Security Agreement, or to
take action or make a response in or with respect to any legal or arbitral
proceeding relating to this Security Agreement or relating to the Collateral, or
to protect the Collateral or exercise any rights or remedies under this Security
Agreement or with respect to the Collateral, then the Credit Parties agree to
promptly pay upon demand any and all such reasonable costs and expenses of one
counsel representing the Agent or following the occurrence and during the
continuance of an Event of Default counsel for the Agent and the Lenders,
actually incurred, all of which costs and expenses shall constitute Secured
Obligations hereunder.

     14. Continuing Agreement.

          (a) This Security Agreement shall be a continuing agreement in every
     respect and shall remain in full force and effect until all of the Credit
     and Collateral Termination Events have occurred. Upon the occurrence of all
     of the Credit and Collateral Termination Events, this Security Agreement
     shall be automatically terminated and, subject to the provisions of Section
     14(b) below, all Liens hereunder released and the Agent shall, upon the
     request and at the expense of the Credit Parties, forthwith release all of
     its liens and security interests hereunder and shall execute, if necessary,
     and deliver all UCC termination statements and/or other documents
     reasonably requested by the Credit Parties evidencing such termination and
     release. Notwithstanding the foregoing all releases and indemnities
     provided hereunder shall survive termination of this Security Agreement.

          (b) This Security Agreement shall continue to be effective or be
     automatically reinstated, as the case may be, if at any time payment, in
     whole or in part, of any of the Secured Obligations is rescinded or must
     otherwise be restored or returned by the Agent

<PAGE>

     or any Lender as a preference, fraudulent conveyance or otherwise under any
     bankruptcy, insolvency or similar law, all as though such payment had not
     been made; provided that in the event payment of all or any part of the
     Secured Obligations is rescinded or must be restored or returned, all
     reasonable costs and expenses (including without limitation any reasonable
     legal fees and disbursements) actually incurred by the Agent or any Lender
     in defending and enforcing such reinstatement shall be deemed to be
     included as a part of the Secured Obligations.

     15. Amendments; Waivers; Modifications. This Security Agreement and the
provisions hereof may not be amended, waived, modified, changed, discharged or
terminated except as set forth in Section 14.9 of the Credit Agreement.

     16. Successors in Interest. This Security Agreement shall create a
continuing security interest in the Collateral and shall be binding upon each of
the parties hereto, and their respective successors and assigns as permitted
under the Credit Agreement, and shall inure, together with all rights and
remedies of each of the parties hereto and their respective permitted successors
and assigns; provided, however, that none of the Credit Parties may assign its
rights or delegate its duties hereunder without the prior written consent of
each Lender or the Required Lenders, as required by the Credit Agreement. To the
fullest extent permitted by law, each Credit Party hereby releases the Agent and
each Lender, each of their respective officers, employees and agents and each of
their respective successors and assigns, from any liability for any act or
omission relating to this Security Agreement or the Collateral, except for any
liability arising from the gross negligence or willful misconduct of or breach
of this Security Agreement in any material respect by the Agent or such Lender
or their respective officers, employees and agents.

     17. Notices. All notices required or permitted to be given under this
Security Agreement shall be in conformance with Section 14.4 of the Credit
Agreement.

     18. Counterparts. This Security Agreement may be executed in any number of
counterparts, each of which where so executed and delivered shall be an
original, but all of which shall constitute one and the same instrument. It
shall not be necessary in making proof of this Security Agreement to produce or
account for more than one such counterpart.

     19. Headings. The headings of the sections and subsections hereof are
provided for convenience only and shall not in any way affect the meaning,
construction or interpretation of any provision of this Security Agreement.

     20. Governing Law; Submission to Jurisdiction and Service of Process;
Arbitration. THIS SECURITY AGREEMENT AND THE RIGHTS AND OBLIGATIONS OF THE
PARTIES HEREUNDER SHALL BE GOVERNED BY AND CONSTRUED AND INTERPRETED IN
ACCORDANCE WITH THE LAWS OF THE STATE OF GEORGIA, WITHOUT GIVING EFFECT TO THE
CHOICE OF LAW PROVISIONS THEREOF. The terms of Sections 14.2 and 14.3 of the
Credit Agreement are incorporated herein by reference, mutatis mutandis, and the
parties hereto agree to such terms.

     21. Waiver of Jury Trial. TO THE EXTENT PERMITTED BY APPLICABLE LAW, EACH
OBLIGOR AND THE AGENT HEREBY WAIVE ANY RIGHT TO A TRIAL BY

<PAGE>

JURY IN ANY ACTION OR PROCEEDING ARISING OUT OF THIS SECURITY AGREEMENT, THE
CREDIT DOCUMENTS OR ANY OTHER AGREEMENTS OR TRANSACTIONS RELATED HERETO OR
THERETO.

     22. Severability. If any provision of any of the Security Agreement is
determined to be illegal, invalid or unenforceable, such provision shall be
fully severable and the remaining provisions shall remain in full force and
effect and shall be construed without giving effect to the illegal, invalid or
unenforceable provisions.

     23. Entirety. This Security Agreement, the other Credit Documents, the
Lender Hedging Agreements and the agreements pertaining to Bank Products
represent the entire agreement of the parties hereto and thereto, and supersede
all prior agreements and understandings, oral or written, if any, including any
commitment letters or correspondence relating to the Credit Documents, the
Lender Hedging Agreements, the agreements pertaining to Bank Products or the
transactions contemplated herein and therein.

     24. Survival. All representations and warranties of the Credit Parties
hereunder shall survive the execution and delivery of this Security Agreement,
the other Credit Documents and the Lender Hedging Agreements or any agreement
pertaining to Bank Products, the delivery of the Notes and the making of the
Loans and the issuance of the Letters of Credit under the Credit Agreement.

     25. Rights of Required Lenders. All rights of the Agent hereunder, if not
exercised by the Agent at the direction of the Required Lenders, may be
exercised by the Required Lenders.

     26. Marshalling. Neither the Agent nor any Lender shall be under any
obligation to marshal any assets in favor of any Credit Party or any other
Person or against or in payment of any or all of the Secured Obligations.

                  [remainder of page intentionally left blank]

<PAGE>

          IN WITNESS WHEREOF, each of the parties hereto has caused a
counterpart of this Security Agreement to be duly executed and delivered as of
the date first above written.

OBLIGORS:                               WORLD AIR HOLDINGS, INC.,
                                        a Delaware corporation

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        WORLD AIRWAYS, INC.,
                                        a Delaware corporation

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        NORTH AMERICAN AIRLINES, INC.,
                                        a Delaware corporation

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

                                        WORLD AIRWAYS PARTS COMPANY, LLC,
                                        a Delaware limited liability company

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------

<PAGE>

Accepted and agreed to as of the date first above written.

                                        WACHOVIA BANK, NATIONAL
                                        ASSOCIATION, as Agent

                                        By:
                                            ------------------------------------
                                        Name:
                                              ----------------------------------
                                        Title:
                                               ---------------------------------exv4w2

 

Exhibit 4.2

AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT 

     This Amended and Restated Registration Rights Agreement (this “Agreement”) is made and entered
into as of March 27, 2006, by and among Omniture, Inc., a Delaware corporation (the “Company”), the
persons and entities listed on Exhibit A attached hereto (the “Investors”), the persons and
entities listed on Exhibit B attached hereto (the “Founders”) and the persons and entities
listed on Exhibit C attached hereto (the “Additional Holders”).

     WHEREAS, certain of the Investors (the “Prior Investors”) are holders of outstanding shares of
the Company’s Series A-1 Preferred Stock (“Series A-1 Stock”), Series A-2 Preferred Stock (“Series
A-2 Stock”), Series A-3 Preferred Stock (“Series A-3 Stock”), Series A-4.1 Preferred Stock (“Series
A-4.1 Stock”), Series A-5 Preferred Stock (“Series A-5 Stock”), Series B Preferred Stock (“Series B
Stock”), Series B-1 Preferred Stock (“Series B-1 Stock”), Series B-2 Preferred Stock (“Series B-2
Stock”), Series C Preferred Stock and Series C-1 Preferred Stock (collectively, “Series C Stock”);

     WHEREAS, the Prior Investors have been granted certain registration rights under the Amended
and Restated Registration Rights Agreement dated as of June 9, 2005 (the “Prior Rights Agreement”);

     WHEREAS, the Company, the Prior Investors and the Founders desire to enter into this Agreement
in order to amend, restate and replace their rights and obligations under the Prior Rights
Agreement with the rights and obligations set forth in this Agreement.

     NOW, THEREFORE, in consideration of the foregoing recitals and the mutual promises hereinafter
set forth, the parties hereto agree as follows:

          1. REGISTRATION RIGHTS.

               1.1 Definitions. For purposes of this Section 1:

                    (a) Registration. The terms “register, “registration” and “registered” refer to a
registration effected by preparing and filing a registration statement in compliance with the U.S.
Securities Act of 1933, as amended (the “Securities Act”), and the declaration or ordering of
effectiveness of such registration statement.

                    (b) Registrable Securities. The term “Registrable Securities” means (1) all the
shares of Common Stock of the Company issued or issuable upon the conversion of any shares of
Preferred Stock that are now owned or may hereafter be acquired by any Investor or any Investor’s
permitted successors and assigns; (2) all the shares of Common Stock of the Company held by the
Founders that are now owned or may hereafter be acquired by any Founder or any Founder’s permitted
successors and assigns (the “Founders’ Shares”); (3) all the shares of Common Stock of the Company
held by the Additional Holders that are owned as of the date of this Agreement (the “Additional
Holders’ Shares”); and (4) any shares of Common Stock of the Company issued (or issuable upon the
conversion or exercise of any warrant, right or other security

 

 

which is issued) (i) as a dividend or other distribution with respect to, or in exchange for
or in replacement of, all such shares of Common Stock described in clause (1), (2) or (3) of this
Section 1.1(b); excluding in all cases, however, any Registrable Securities sold by a
person in a transaction in which rights under this Section 1 are not assigned in accordance with
this Agreement or any Registrable Securities with respect to which, pursuant to Section 1.11
hereof, the holders are no longer entitled to registration rights pursuant to Sections 1.2, 1.3 or
1.4 hereof; provided, however, that notwithstanding anything herein to the
contrary, the Founders’ Shares and any shares of Common Stock described in clause (4) of this
Section 1.1(b) that are issued in respect of any Founders’ Shares (which with the Founders’ Shares
are collectively hereinafter referred to as the “Excluded Shares”), shall not be counted as
Registrable Securities entitling the Founders to be an Initiating Holder for purposes of Section
1.2 of this Agreement; provided, further that notwithstanding anything herein to
the contrary, the Additional Holders’ Shares and any shares of Common Stock described in clause (4)
of this Section 1.1(b) that are issued in respect of any Additional Holders’ Shares (which with the
Additional Holders’ Shares are collectively hereinafter referred to as the “Additional Holders
Excluded Shares”), shall not be counted as Registrable Securities entitling the Additional Holders
to be an Initiating Holder for purposes of Section 1.2 of this Agreement.

                    (c) Registrable Securities Then Outstanding. The number of shares of “Registrable
Securities then outstanding” shall mean the number of shares of Common Stock which are Registrable
Securities that are then (1) issued and outstanding or (2) issuable pursuant to the exercise or
conversion of then outstanding and then exercisable and qualifying options, warrants or convertible
securities.

                    (d) Holder. The term “Holder” means any person owning of record Registrable
Securities or any assignee of record of such Registrable Securities to whom rights set forth herein
have been duly assigned in accordance with this Agreement; provided, however, that
for purposes of this Agreement, a record holder of shares of Preferred Stock convertible into such
Registrable Securities shall be deemed to be the Holder of such Registrable Securities;
provided, further, that a holder of Founder Excluded Shares (as defined in Section
1.1(b)) or Additional Holders Excluded Shares (as defined in Section 1.1(b))shall not be a Holder
with respect to such Founder Excluded Shares or Additional Holders Excluded Shares for purposes of
Section 1.2 of this Agreement; and provided, further, that the Company shall in no
event be obligated to register shares of Preferred Stock, and that Holders of Registrable
Securities will not be required to convert their shares of Preferred Stock into Common Stock in
order to exercise the registration rights granted hereunder, until immediately before the closing
of the offering to which the registration relates.

                    (e) Form S-3. The term “Form S-3” means such form under the Securities Act as is in
effect on the date hereof or any successor registration form under the Securities Act subsequently
adopted by the SEC which permits inclusion or incorporation of substantial information by reference
to other documents filed by the Company with the SEC.

                    (f) SEC. The term “SEC” or “Commission” means the U.S. Securities and Exchange
Commission.

-2-

 

               1.2 Demand Registration.

                    (a) Request by Holders. If the Company shall receive at any time after six (6) months
after the effective date of the Company’s initial public offering of its securities pursuant to a
registration filed under the Securities Act, a written request from the Holders of at least 25% of
the Registrable Securities then outstanding (the “Initiating Holders”) that the Company file a
registration statement under the Securities Act covering the registration of Registrable Securities
pursuant to this Section 1.2, then the Company shall, within twenty (20) days after the receipt of
such written request, give written notice of such request (the “Request Notice”) to all Holders,
and effect, as soon as practicable (but in no event more than ninety (90) days following the
request from the Initiating Holders to register such shares), the registration under the Securities
Act of all Registrable Securities which Holders request to be registered and included in such
registration by written notice given by such Holders to the Company within twenty (20) days after
receipt of the Request Notice, subject only to the limitations of this Section 1; provided
that the Registrable Securities requested by all Holders to be registered pursuant to such request
must have an anticipated aggregate public offering price (before any underwriting discounts and
commissions) of not less than $7,500,000.

                    (b) Underwriting. If the Initiating Holders intend to distribute the Registrable
Securities covered by their request by means of an underwriting, then they shall so advise the
Company as a part of their request made pursuant to this Section 1.2 and the Company shall include
such information in the written notice referred to in Section 1.2(a). In such event, the right of
any Holder to include his, her, or its Registrable Securities in such registration shall be
conditioned upon such Holder’s participation in such underwriting and the inclusion of such
Holder’s Registrable Securities in the underwriting (unless otherwise mutually agreed by a majority
in interest of the Initiating Holders and such Holder) to the extent provided herein. All Holders
proposing to distribute their securities through such underwriting shall enter into an underwriting
agreement in customary form with the managing underwriter or underwriters selected for such
underwriting by the Company. Notwithstanding any other provision of this Section 1.2, if the
underwriter(s) advise(s) the Company in writing that marketing factors require a limitation of the
number of securities to be underwritten then the Company shall so advise all Holders of Registrable
Securities that would otherwise be registered and underwritten pursuant hereto, and the number of
Registrable Securities that may be included in the underwriting shall be reduced as required by the
underwriter(s) and allocated among the Holders of Registrable Securities on a pro rata basis
according to the number of Registrable Securities then outstanding held by each Holder requesting
registration (including the Initiating Holders); provided, however, that the number
of shares of Registrable Securities to be included in such underwriting and registration shall not
be reduced unless all other securities of the Company are first entirely excluded from the
underwriting and registration. Any Registrable Securities excluded and withdrawn from such
underwriting shall be withdrawn from the registration.

                    (c) Maximum Number of Demand Registrations. The Company is obligated to effect only
two (2) such registrations pursuant to this Section 1.2.

                    (d) Deferral. Notwithstanding the foregoing, if the Company shall furnish to Holders
requesting the filing of a registration statement pursuant to this Section 1.2, a certificate

-3-

 

signed by the President or Chief Executive Officer of the Company stating that in the good
faith judgment of the Board of Directors of the Company, it would be seriously detrimental to the
Company and its Founders for such registration statement to be filed and it is therefore essential
to defer the filing of such registration statement, then the Company shall have the right to defer
such filing for a period of not more than ninety (90) days after receipt of the request of the
Initiating Holders; provided, however, that the Company may not utilize this right
more than once in any twelve (12) month period and shall not register shares for its own account or
the account of others during such 90-day period.

                    (e) Expenses. All expenses incurred in connection with a registration pursuant to
this Section 1.2, including without limitation all registration and qualification fees, printers’
and accounting fees, fees and disbursements of counsel for the Company, and the reasonable fees and
disbursements of one (1) counsel for the selling Holders (but excluding underwriters’
discounts and commissions), shall be borne by the Company. However, each Holder participating in a
registration pursuant to this Section 1.2 shall bear such Holder’s proportionate share (based on
the number of shares sold by such Holder over the total number of shares included in such
registration at the time it is declared effective) of all discounts, commissions or other amounts
payable to underwriters or brokers in connection with such offering (but excluding all
out-of-pocket expenses as described in the underwriting agreement). Notwithstanding the foregoing,
the Company shall not be required to pay for any expenses of any registration proceeding begun
pursuant to this Section 1.2 if the registration request is subsequently withdrawn at the request
of the Holders of a majority of the Registrable Securities to be registered, unless the Holders of
a majority of the Registrable Securities then outstanding agree to forfeit their right to one (1)
demand registration pursuant to this Section 1.2 (in which case such right shall be forfeited by
all Holders of Registrable Securities); provided, further, however, that if at the
time of such withdrawal, the Holders have learned of a material adverse change in the condition,
business, or prospects of the Company not known to the Holders at the time of their request for
such registration and have withdrawn their request for registration with reasonable promptness
after learning of such material adverse change, then the Holders shall not be required to pay any
of such expenses and shall retain their demand registration rights pursuant to this Section 1.2.

               1.3 Piggyback Registrations. The Company shall notify all Holders of Registrable
Securities in writing at least thirty (30) days prior to filing any registration statement under
the Securities Act for purposes of effecting a public offering of securities of the Company
(including, but not limited to, registration statements relating to secondary offerings of
securities of the Company, but excluding registration statements relating to any
registration under Section 1.2 or Section 1.4 of this Agreement or to any employee benefit plan or
a corporate reorganization or other transaction covered by Rule 145 promulgated under the
Securities Act, or a registration on any registration form which does not permit secondary sales or
does not include substantially the same information as would be required to be included in a
registration statement covering the sale of Registrable Securities,) and will afford each such
Holder an opportunity to include in such registration statement all or any part of the Registrable
Securities then held by such Holder. Each Holder desiring to include in any such registration
statement all or any part of the Registrable Securities held by such Holder shall, within twenty
(20) days after receipt of the above-described notice from the Company, so notify the Company in
writing, and in such notice shall inform the Company of the number of Registrable Securities such
Holder wishes to include in such registration

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statement. If a Holder decides not to include all of its Registrable Securities in any
registration statement thereafter filed by the Company, such Holder shall nevertheless continue to
have the right to include any Registrable Securities in any subsequent registration statement or
registration statements as may be filed by the Company with respect to offerings of its securities,
all upon the terms and conditions set forth herein. Notwithstanding anything in this Agreement to
the contrary, the provisions of this Section 1.3 shall not apply with respect to the Additional
Holders and the Additional Holders’ Excluded Shares in connection with any registration statement
(including any amendments or supplements to any such registration statement) filed in connection
with the Company’s initial public offering of its securities pursuant to a registration statement
filed under the Securities Act.

                    (a) Underwriting. If a registration statement under which the Company gives notice
under this Section 1.3 is for an underwritten offering, then the Company shall so advise the
Holders of Registrable Securities. In such event, the right of any such Holder’s Registrable
Securities to be included in a registration pursuant to this Section 1.3 shall be conditioned upon
such Holder’s participation in such underwriting and the inclusion of such Holder’s Registrable
Securities in the underwriting to the extent provided herein. All Holders proposing to distribute
their Registrable Securities through such underwriting shall enter into an underwriting agreement
in customary form with the managing underwriter or underwriter(s) selected for such underwriting.
Notwithstanding any other provision of this Agreement, if the managing underwriter determine(s) in
good faith that marketing factors require a limitation of the number of shares to be underwritten,
then the managing underwriter(s) may exclude shares (including Registrable Securities) from the
registration and the underwriting, and the number of shares that may be included in the
registration and the underwriting shall be allocated, first, to the Company, next to Holders
requesting inclusion of their Registrable Securities in such registration statement on a pro rata
basis based on the number of Registrable Securities each such Holder has requested to be included
in the registration; provided, however., that the right of the underwriters to
exclude shares (including Registrable Securities) from the registration and underwriting as
described above shall be restricted so that: (i) the number of Registrable Securities held by the
Investors included in any such registration is not reduced below 25% of the shares included in the
registration, except for a registration relating to the Company’s initial public offering, from
which all Registrable Securities may be excluded; and (ii) all shares that are not Registrable
Securities shall first be excluded from such registration and underwriting before any Registrable
Securities are so excluded. If any Holder disapproves of the terms of any such underwriting, such
Holder may elect to withdraw therefrom by written notice, given in accordance with Section 3.1
hereof, to the Company and the underwriter, delivered at least twenty (20) days prior to the
effective date of the registration statement. Any Registrable Securities excluded or withdrawn
from such underwriting shall be excluded and withdrawn from the registration. For any Holder that
is a partnership or corporation, the partners, retired partners and Founders of such Holder, or the
estates and family members of any such partners and retired partners and any trusts for the benefit
of any of the foregoing persons shall be deemed to be a single “Holder,” and any pro rata reduction
with respect to such “Holder” shall be based upon the aggregate amount of shares carrying
registration rights owned by all entities and individuals included in such “Holder,” as defined in
this sentence.

                    (b) Expenses. All expenses incurred in connection with the first registration
pursuant to this Section 1.3, including without limitation all registration and qualification

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fees, printers’ and accounting fees, fees and disbursements of counsel for the Company, and
the reasonable fees and disbursements of one (1) counsel for the selling Holders (but
excluding underwriters’ discounts and commissions), shall be borne by the Company.
However, each Holder participating in a registration pursuant to this Section 1.3 shall bear such
Holder’s proportionate share (based on the number of shares sold by such Holder over the total
number of shares included in such registration at the time it goes effective) of all discounts,
commissions or other amounts payable to underwriters or brokers in connection with such offering
(but excluding all out-of- pocket expenses as described in the underwriting agreement), and
with respect to any registrations beyond the first one under this Section 1.3, any registration and
qualifications fees, printers’ and accounting fees, and any fees and disbursements of any counsel
for the participating Holders.

               1.4 Form S-3 Registration. In case the Company shall receive from any Holder or
Holders of Registrable Securities then outstanding a written request or requests that the Company
effect a registration on Form S-3 and any related qualification or compliance with respect to all
or a part of the Registrable Securities owned by such Holder or Holders, then the Company will do
the following:

                    (a) Notice. Promptly give written notice of the proposed registration and the
Holder’s or Holders’ request therefor, and any related qualification or compliance, to all other
Holders of Registrable Securities.

                    (b) Registration. As soon as practicable, effect such registration and all such
qualifications and compliances as may be so requested and as would permit or facilitate the sale
and distribution of all or such portion of such Holder’s or Holders’ Registrable Securities as are
specified in such request, together with all or such portion of the Registrable Securities of any
other Holder or Holders joining in such request as are specified in a written request given within
twenty (20) days after receipt of such written notice from the Company; provided,
however, that the Company shall not be obligated to effect any such registration,
qualification or compliance pursuant to this Section 1.4:

                         (1) if Form S-3 is not available for such offering;

                         (2) if the Holders, together with the holders of any other securities of the Company entitled
to inclusion in such registration, propose to sell Registrable Securities and such other securities
(if any) at an aggregate price to the public of less than $3,000,000;

                         (3) if the Company shall furnish to the Holders a certificate signed by the President or Chief
Executive Officer of the Company stating that in the good faith judgment of the Board of Directors
of the Company, it would be seriously detrimental to the Company and its Founders for such Form S-3
Registration to be effected at such time, in which event the Company shall have the right to defer
the filing of the Form S-3 registration statement no more than once during any twelve (12) month
period for a period of not more than ninety (90) days after receipt of the request of the Holder or
Holders under this Section 1.4, but shall not register shares for its own account or the account of
others during such ninety (90) day period;

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                         (4) if the Company has, within the twelve (12) month period preceding the date of such
request, already effected one (1) registration on Form S-3 for the Holders pursuant to this Section
1.4; or

                         (5) in any particular jurisdiction in which the Company would be required to qualify to do
business or to execute a general consent to service of process in effecting such registration,
qualification or compliance.

                    (c) Expenses. Subject to the foregoing, the Company shall file a Form S-3
registration statement covering the Registrable Securities and other securities so requested to be
registered pursuant to this Section 1.4 as soon as practicable after receipt of the request or
requests of the Holders for such registration. The Company shall pay all expenses incurred in
connection with the first registration requested pursuant to this Section 1.4, (excluding
underwriters’ or brokers’ discounts and commissions), including without limitation all filing,
registration and qualification, printers’ and accounting fees and the reasonable fees and
disbursements of one (1) counsel for the selling Holder or Holders and counsel for the Company.
However, each Holder participating in a registration pursuant to this Section 1.4 shall bear such
Holder’s proportionate share (based on the number of shares sold by such Holder over the total
number of shares included in such registration at the time it goes effective) of all discounts,
commissions or other amounts payable to underwriters or brokers in connection with such offering
(but excluding all out-of- pocket expenses as described in the underwriting agreement), and
with respect to any registration beyond the first one under this Section 1.4, any registration and
qualification fees, printers’ and accounting fees, and any fees and disbursements of any counsel
for the participating Holders.

                    (d) Not Demand Registration. Form S-3 registrations shall not be deemed to be demand
registrations as described in Section 1.2 above.

               1.5 Obligations of the Company. Whenever required to effect the registration of any
Registrable Securities under this Agreement, the Company shall, as expeditiously as reasonably
possible:

                    (a) Prepare and file with the SEC a registration statement with respect to such Registrable
Securities and use all commercially reasonable efforts to cause such registration statement to
become effective, and, upon the request of the Holders of a majority of the Registrable Securities
registered thereunder, keep such registration statement effective for up to ninety (90) days.

                    (b) Prepare and file with the SEC such amendments and supplements to such registration
statement and the prospectus used in connection with such registration statement as may be
necessary to comply with the provisions of the Securities Act with respect to the disposition of
all securities covered by such registration statement.

                    (c) Furnish to the Holders such number of copies of a prospectus, including a preliminary
prospectus, in conformity with the requirements of the Securities Act, and such other documents as
they may reasonably request in order to facilitate the disposition of the Registrable Securities
owned by them that are included in such registration.

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                    (d) Use all commercially reasonable efforts to register and qualify the securities covered by
such registration statement under such other securities or Blue Sky laws of such jurisdictions as
shall be reasonably requested by the Holders, provided that the Company shall not be
required in connection therewith or as a condition thereto to qualify to do business or to file a
general consent to service of process in any such states or jurisdictions.

                    (e) In the event of any underwritten public offering, enter into and perform its obligations
under an underwriting agreement, in usual and customary form, with the managing underwriter(s) of
such offering. Each Holder participating in such underwriting hereby agrees to also enter into and
perform its obligations under such an agreement.

                    (f) Notify each Holder of Registrable Securities covered by such registration statement at any
time when a prospectus relating thereto is required to be delivered under the Securities Act of the
happening of any event as a result of which the prospectus included in such registration statement,
as then in effect, includes an untrue statement of a material fact or omits to state a material
fact required to be stated therein or necessary to make the statements therein not misleading in
the light of the circumstances then existing.

                    (g) Furnish, at the request of any Holder requesting registration of Registrable Securities,
on the date that such Registrable Securities are delivered to the underwriters for sale, if such
securities are being sold through underwriters, or, if such securities are not being sold through
underwriters, on the date that the registration statement with respect to such securities becomes
effective: (1) an opinion, dated as of such date, of the counsel representing the Company for the
purposes of such registration, in form and substance as is customarily given to underwriters in an
underwritten public offering and reasonably satisfactory to a majority in interest of the Holders
requesting registration, addressed to the underwriters, if any, and to the Holders requesting
registration of Registrable Securities and (2) a “comfort” letter dated as of such date, from the
independent certified public accountants of the Company, in form and substance as is customarily
given by independent certified public accountants to underwriters in an underwritten public
offering and reasonably satisfactory to a majority in interest of the Holders requesting
registration, addressed to the underwriters, if any, and to the Holders requesting registration of
Registrable Securities.

               1.6 Furnish Information. It shall be a condition precedent to the obligations of the
Company to take any action pursuant to Sections 1.2, 1.3 or 1.4 that the selling Holders shall
furnish to the Company such information regarding themselves, the Registrable Securities held by
them, and the intended method of disposition of such securities as shall be reasonably required to
timely effect the registration of their Registrable Securities.

               1.7 Delay of Registration. No Holder shall have any right to obtain or seek an
injunction restraining or otherwise delaying any such registration as the result of any controversy
that might arise with respect to the interpretation or implementation of this Section 1.

               1.8 Indemnification. In the event any Registrable Securities are included in a
registration statement under Sections 1.2, 1.3 or 1.4:

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                    (a) By the Company. To the extent permitted by law, the Company will indemnify and
hold harmless each Holder, the partners, members, managing members, officers, employees and
directors of each Holder, any underwriter (as defined in the Securities Act) for such Holder and
each person, if any, who controls such Holder or underwriter within the meaning of the Securities
Act or the Securities Exchange Act of 1934, as amended (the “Exchange Act”), against any losses,
claims, damages, or liabilities (joint or several) to which they may become subject under the
Securities Act, the Exchange Act or other federal or state law, insofar as such losses, claims,
damages, or liabilities (or actions in respect thereof) arise out of or are based upon any of the
following statements, omissions or violations (collectively, the “Violations” and, individually, a
"Violation”): (1) any untrue statement or alleged untrue statement of a material fact contained in
such registration statement, including any preliminary prospectus or final prospectus contained
therein or any amendments or supplements thereto; or (2) the omission or alleged omission to state
therein a material fact required to be stated therein, or necessary to make the statements therein
not misleading; or (3) any violation or alleged violation by the Company of the Securities Act, the
Exchange Act, any federal or state securities law or any rule or regulation promulgated under the
Securities Act, the Exchange Act or any federal or state securities law in connection with the
offering covered by such registration statement. The Company will reimburse each such Holder,
partner, member, managing member, officer, employee or director, underwriter or controlling person
for any legal or other expenses reasonably incurred by them as such expenses are incurred. Such
expenses shall be paid within three months after a request for reimbursement has been received by
the Company, in connection with investigating or defending any such loss, claim, damage, liability
or action; provided, however, that the indemnity agreement contained in this
Section 1.8(a) shall not apply to amounts paid in settlement of any such loss, claim, damage,
liability or action if such settlement is effected without the consent of the Company (which
consent shall not be unreasonably withheld), nor shall the Company be liable in any such case for
any such loss, claim, damage, liability or action to the extent such Violation occurred in reliance
upon and in conformity with written information furnished expressly for use in connection with such
registration by such Holder, partner, officer, director, underwriter or controlling person of such
Holder.

                    (b) By Selling Holders. To the extent permitted by law, each selling Holder will
indemnify and hold harmless the Company, each of its directors, each of its officers who have
signed the registration statement, each person, if any, who controls the Company within the meaning
of the Securities Act, any underwriter and any other Holder selling securities under such
registration statement or any of such other Holder’s partners, members, managing members,
directors, employees or officers or any person who controls such Holder within the meaning of the
Securities Act or the Exchange Act, against any losses, claims, damages or liabilities (joint or
several) to which the Company or any such director, officer, employee or controlling person,
underwriter or other such Holder, partner or director, member, managing member, officer, employee
or controlling person of such other Holder may become subject under the Securities Act, the
Exchange Act or other federal or state law, insofar as such losses, claims, damages or liabilities
(or actions in respect thereto) arise out of any Violation, in each case to the extent (and only to
the extent) that such Violation occurred in reliance upon and in conformity with written
information furnished by such Holder expressly for use in connection with such registration. Each
such Holder will reimburse any legal or other expenses reasonably incurred by the Company or any
such director, officer, controlling person, underwriter or other Holder, partner, member, managing
member, officer, employee, director or controlling person of such other Holder in connection with

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investigating or defending any such loss, claim, damage, liability or action as such expenses
are incurred. Such expenses shall be paid within three months after a request for reimbursement
has been received by the indemnifying Holder, provided, however, that the indemnity
agreement contained in this Section 1.8(b) shall not apply to amounts paid in settlement of any
such loss, claim, damage, liability or action if such settlement is effected without the consent of
the Holder, which consent shall not be unreasonably withheld; and provided,
further, that the total amounts payable in indemnity by a Holder under this Section 1.8(b)
in respect of any Violation shall not exceed the net proceeds received by such Holder in the
registered offering out of which such Violation arises.

                    (c) Notice. Promptly after receipt by an indemnified party under this Section 1.8 of
notice of the commencement of any action (including any governmental action), such indemnified
party will, if a claim in respect thereof is to be made against any indemnifying party under this
Section 1.8, deliver to the indemnifying party a written notice of the commencement thereof. The
indemnifying party shall have the right to participate in, and, to the extent the indemnifying
party so desires, jointly with any other indemnifying party similarly noticed, to assume the
defense thereof with counsel mutually satisfactory to the parties; provided,
however, that an indemnified party shall have the right to retain its own counsel, with the
fees and expenses to be paid by the indemnifying party, if representation of such indemnified party
by the counsel retained by the indemnifying party would be inappropriate due to actual or potential
conflict of interests between such indemnified party and any other party represented by such
counsel in such proceeding. The failure to deliver written notice to the indemnifying party within
a reasonable time of the commencement of any such action, if prejudicial to its ability to defend
such action, shall relieve such indemnifying party of any liability to the indemnified party under
this Section 1.8 only to the extent of such prejudice, and the omission so to deliver written
notice to the indemnifying party will not relieve it of any liability that it may have to any
indemnified party otherwise than under this Section 1.8.

                    (d) Defect Eliminated in Final Prospectus. The foregoing indemnity agreements of the
Company and Holders are subject to the condition that, insofar as they relate to any Violation made
in a preliminary prospectus but eliminated or remedied in the amended prospectus on file with the
SEC at the time the registration statement in question becomes effective or the amended prospectus
filed with the SEC pursuant to SEC Rule 424(b) (the “Final Prospectus”), such indemnity agreement
shall not inure to the benefit of any person if a copy of the Final Prospectus was furnished to the
indemnified party and was not furnished to the person asserting the loss, liability, claim or
damage at or prior to the time such action is required by the Securities Act.

                    (e) Contribution. If the indemnification provided for in this Section 1.8 is held by
a court of competent jurisdiction to be unavailable to an indemnified party with respect to any
loss, liability, claim, damage or expense referred to herein, then the indemnifying party, in lieu
of indemnifying the indemnified party, shall contribute to the amount paid or payable by such
indemnified party with respect to such loss, liability, claim, damage or expense in the proportion
that is appropriate to reflect the relative fault of the indemnifying party and the indemnified
party in connection with the statements or omissions that resulted in such loss, liability, claim,
damage or expense, as well as any other relevant equitable considerations. The relative fault of
the indemnifying party and the indemnified party shall be determined by reference to, among other

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things, whether the untrue or alleged untrue statement of material fact or the omission to
state a material fact relates to information supplied by the indemnifying party or by the
indemnified party, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. In any such case, (A) no such Holder
will be required to contribute any amount in excess of the net proceeds received by such Holder
pursuant to sales under such registration statement less any amounts paid pursuant to Section
1.8(b); and (B) no person or entity guilty of fraudulent misrepresentation (within the meaning of
Section 11(f) of the Securities Act) will be entitled to contribution from any person or entity who
was not guilty of such fraudulent misrepresentation.

                    (f) Conflict with Underwriting Agreement. Notwithstanding the foregoing, to the
extent that the provisions on indemnification and contribution contained in the underwriting
agreement entered into in connection with the underwritten public offering are in conflict with the
foregoing provisions, the provisions in the underwriting agreement will control.

                    (g) Survival. The obligations of the Company and Holders under this Section 1.8 shall
survive the completion of any offering of Registrable Securities in a registration statement, and
otherwise.

               1.9 “Market Stand-Off” Agreement. Each Holder hereby agrees that it shall not, to the
extent requested by the Company or an underwriter of securities of the Company, sell or otherwise
transfer or dispose of any Registrable Securities or other shares of stock of the Company then
owned by such Holder (except for shares acquired on the public market and shares included in the
first registration statement of the Company filed under the Securities Act and other than transfers
to donees or partners of the Holder who agree to be similarly bound) for up to 90 days following
the effective date of any registration statement of the Company filed under the Securities Act (or
180 days following the effective date of the first registration statement of the Company filed
under the Securities Act); provided, however, that:

                    (a) all officers and directors of the Company then holding Common Stock of the Company and all
stockholders holding in the aggregate at least 1% of the total equity of the Company, enter into
similar agreements; and

                    (b) if any Holder is released from the obligations of this Section 1.9, then all Holders shall
be similarly released on a pro rata basis.

For purposes of this Section 1.9, the term “Company” shall include any wholly-owned subsidiary of
the Company into which the Company merges or consolidates. In order to enforce the foregoing
covenant, the Company shall have the right to place restrictive legends on the certificates
representing the shares subject to this Section and to impose stop transfer instructions with
respect to the Registrable Securities and such other shares of stock of each Holder (and the shares
or securities of every other person subject to the foregoing restriction) until the end of such
period. Each Holder further agrees to enter into any agreement reasonably required by the
underwriters to implement the foregoing within any reasonable timeframe so requested.

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          1.10 Rule 144 Reporting. With a view to making available the benefits of certain
rules and regulations of the Commission which may at any time permit the sale of the Registrable
Securities to the public without registration, after such time as a public market exists for the
Common Stock of the Company, the Company agrees to:

               (a) Make and keep public information available, as those terms are understood and defined in
Rule 144 under the Securities Act, at all times after the effective date of the first registration
under the Securities Act filed by the Company for an offering of its securities to the general
public;

               (b) Use reasonable, diligent efforts to file with the Commission in a timely manner all
reports and other documents required of the Company under the Securities Act and the Exchange Act
(at any time after it has become subject to such reporting requirements); and

               (c) So long as a Holder owns any Registrable Securities, to furnish to the Holder forthwith
upon request a written statement by the Company as to its compliance with the reporting
requirements of said Rule 144 (at any time after ninety (90) days after the effective date of the
first registration statement filed by the Company for an offering of its securities to the general
public), and of the Securities Act and the Exchange Act (at any time after it has become subject to
the reporting requirements of the Exchange Act), a copy of the most recent annual or quarterly
report of the Company, and such other reports and documents of the Company as a Holder may
reasonably request in availing itself of any rule or regulation of the Commission allowing a Holder
to sell any such securities without registration (at any time after the Company has become subject
to the reporting requirements of the Exchange Act).

          1.11 Termination of the Company’s Obligations. The Company shall have no obligations
pursuant to Sections 1.2 through 1.4 with respect to the earlier of: (a) any request or requests
for registration made by any Holder on a date more than five (5) years after the dosing date of the
Company’s initial public offering; (b) any Registrable Securities proposed to be sold by a Holder
in a registration pursuant to Section 1.2, 1.3 or 1.4 if, in the opinion of counsel to the Company,
all such Registrable Securities proposed to be sold by a Holder may be sold in a single three (3)
month period without registration under the Securities Act pursuant to Rule 144 under the
Securities Act; or (c) the consummation of a Liquidation Event, as that term is defined in the
Company’s Restated Certificate of Incorporation (as amended from time to time).

          1.12 Limitations on Subsequent Registration Rights. From and after the date of this
Agreement, the Company shall not, without the prior written consent of the Holders of a majority of
the Series B Stock and Series C Stock then outstanding, enter into any agreement with any holder or
prospective holder of any securities of the Company which could result in (i) the Company being
required to file its first Registration Statement or (ii) a registration statement with respect to
any shares of the Company’s capital stock being declared effective prior to six (6) months after
the effective date of the Company’s initial public offerings of its securities pursuant to a
registration statement filed under the Securities Act.

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     2. ASSIGNMENT AND AMENDMENT.

          2.1 Assignment. Notwithstanding anything herein to the contrary, the registration
rights of a Holder under Section 1 hereof may be assigned only to: (a) a party who acquires at
least 100,000 shares of Preferred Stock and/or an equivalent number (on an as converted basis) of
Registrable Securities issued upon conversion thereof or (b) a partner, limited partner, affiliate
(a person or entity controlling, controlled by or under common control with a Holder, where control
means majority voting control) of a Holder, member or former member; provided,
however that no party may be assigned any of the foregoing rights unless the Company is
given written notice by the assigning party at the time of such assignment stating the name and
address of the assignee and identifying the securities of the Company as to which the rights in
question are being assigned; provided, further, that any such assignee of such
rights is not deemed by the Board of Directors of the Company, in its reasonable judgment, to be a
competitor of the Company; and provided, further that any such assignee shall
receive such assigned rights subject to all the terms and conditions of this Agreement, including
without limitation the provisions of this Section 2. Notwithstanding the foregoing, assignments may
be made without the Company’s consent or obtaining the minimum number of shares of Registrable
Securities noted above if the assignment is to a partner, limited partner, affiliate, member or
former member.

          2.2 Amendment and Waiver of Rights. Any provision of this Agreement may be amended
and the observance thereof may be waived (either generally or in a particular instance and either
retroactively or prospectively), only with the written consent of the Company and Investors (and/or
any of their permitted successors or assigns) holding shares of Preferred Stock and/or Conversion
Stock representing and/or convertible into a majority of all the Investors’ Shares (as defined
below); provided, however, that the piggyback registration rights granted to the
Founders under Section 1.3 of this Agreement may not be eliminated or materially and adversely
changed without the written consent of persons holding a majority of the Founders’ Shares;
provided, further, that the piggyback registration rights granted to the Additional
Holders under Section 1.3 of this Agreement may not be eliminated or materially and adversely
changed without the written consent of persons holding a majority of the Additional Holders’
Shares. As used herein, the term “Investors’ Shares” shall mean the shares of Common Stock then
issued or issuable upon conversion of all then outstanding shares of Preferred Stock plus all then
outstanding shares of Conversion Stock that were issued upon the conversion of any shares of
Preferred Stock. Any amendment or waiver effected in accordance with this Section 2.2 shall be
binding upon each Investor, each Holder, each permitted successor or assignee of such Investor or
Holder and the Company.

     3. GENERAL PROVISIONS.

          3.1 Notices. Any and all notices required or permitted to be given to a party
pursuant to the provisions of this Agreement will be in writing and will be effective and deemed to
provide such party sufficient notice under this Agreement on the earliest of the following: (a) at
the time of personal delivery, if delivery is in person; (b) at the time of transmission by
facsimile, addressed to the other party at its facsimile number specified herein (or hereafter
modified by subsequent notice to the parties hereto), with confirmation of receipt made by both
telephone and printed confirmation sheet verifying successful transmission of the facsimile; (c)
one (1) business

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day after deposit with an express overnight courier for United States deliveries, or two (2)
business days after such deposit for deliveries outside of the United States, with proof of
delivery from the courier requested; or (d) three (3) business days after deposit in the United
States mail by certified mail (return receipt requested) for United States deliveries. All notices
for delivery outside the United States will be sent by facsimile or by express courier. Notices by
facsimile shall be machine verified as received. All notices not delivered personally or by
facsimile will be sent with postage and/or other charges prepaid and properly addressed to the
party to be notified at the address or facsimile number as follows, or at such other address or
facsimile number as such other party may designate by one of the indicated means of notice herein
to the other parties hereto as follows:

               (i) if to an Investor, at such Investor’s respective address as set forth on Exhibit A
hereto;

               (ii) if to the Company, marked “Attention: President”, at 550 East Timpanogos Circle, Orem UT
84097;

               (iii) if to a Founder, at such Founder’s address as set forth on Exhibit B hereto.

          3.2 Entire Agreement. This Agreement and the documents referred to herein, together
with all the Exhibits hereto, constitute the entire agreement and understanding of the parties with
respect to the subject matter of this Agreement, and supersede the Prior Rights Agreement and any
and all prior understandings and agreements, whether oral or written, between or among the parties
hereto with respect to the specific subject matter hereof. This Agreement will amend and restate
the Prior Rights Agreement to read as set forth herein, when it has been duly executed by parties
having the right to so amend and restate the Prior Rights Agreement.

          3.3 GOVERNING LAW. THIS AGREEMENT WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF CALIFORNIA, WITHOUT GIVING EFFECT TO THAT BODY OF LAWS PERTAINING TO
CONFLICT OF LAWS.

          3.4 Severability. If any provision of this Agreement is determined by any court or
arbitrator of competent jurisdiction to be invalid, illegal or unenforceable in any respect, such
provision will be enforced to the maximum extent possible given the intent of the parties hereto.
If such clause or provision cannot be so enforced, such provision shall be stricken from this
Agreement and the remainder of this Agreement shall be enforced as if such invalid, illegal or
unenforceable clause or provision had (to the extent not enforceable) never been contained in this
Agreement. Notwithstanding the forgoing, if the value of this Agreement based upon the substantial
benefit of the bargain for any party is materially impaired, which determination as made by the
presiding court or arbitrator of competent jurisdiction shall be binding, then both parties agree
to substitute such provision(s) through good faith negotiations.

          3.5 Third Parties. Nothing in this Agreement, express or implied, is intended to
confer upon any person, other than the parties hereto and their successors and assigns, any rights
or remedies under or by reason of this Agreement.

-14-

 

          3.6 Successors and Assigns. Subject to the provisions of Section 2.1, this Agreement,
and the rights and obligations of the parties hereunder, will be binding upon and inure to the
benefit of their respective successors, assigns, heirs, executors, administrators and legal
representatives.

          3.7 Titles and Headings. The titles, captions and headings of this Agreement are
included for ease of reference only and will be disregarded in interpreting or construing this
Agreement. Unless otherwise specifically stated, all references herein to “sections” and
“exhibits” will mean “sections” and “exhibits” to this Agreement.

          3.8 Counterparts. This Agreement may be executed in any number of counterparts, each
of which when so executed and delivered will be deemed an original, and all of which together shall
constitute one and the same agreement.

          3.9 Costs And Attorneys’ Fees. In the event that any action, suit or other proceeding
is instituted concerning or arising out of this Agreement or any transaction contemplated
hereunder, the prevailing party shall recover all of such party’s costs and attorneys’ fees
incurred in each such action, suit or other proceeding, including any and all appeals or petitions
therefrom.

          3.10 Aggregation of Stock. All shares held or acquired by affiliated entities or
persons shall be aggregated together for the purpose of determining the availability of any rights
under this Agreement.

          3.11 Adjustments for Stock Splits, Etc. Wherever in this Agreement there is a
reference to a specific number of shares of Common Stock or Preferred Stock of the Company of any
class or series, then, upon the occurrence of any subdivision, combination or stock dividend of
such class or series of stock, the specific number of shares so referenced in this Agreement shall
automatically be proportionally adjusted to reflect the affect on the outstanding shares of such
class or series of stock by such subdivision, combination or stock dividend.

          3.12 Further Assurances. The parties agree to execute such further documents and
instruments and to take such further actions as may be reasonably necessary to carry out the
purposes and intent of this Agreement.

          3.13 Facsimile Signatures. This Agreement may be executed and delivered by facsimile
and upon such delivery the facsimile signature will be deemed to have the same effect as if the
original signature had been delivered to the other party.

[SIGNATURE PAGE FOLLOWS]

-15-

 

     IN WITNESS WHEREOF, the parties hereto have executed this Amended and Restated Registration
Rights Agreement as of the date and year first written above.

	 	 	 	 	 
	 	 	THE COMPANY:
	 
	 	 	 	 
	 	 	OMNITURE, INC.
	 
	 	 	 	 
	 

	 	Name:	 	/s/ Joshua G. James 
	 

	 	 	 	 
	 

	 	 	 	Joshua G. James
	 

	 	 	 	Chief Executive Officer

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	INVESTORS:
	 
	 	 	 	 
	 	 	BAVP VII, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	BA Venture Partners VII, LLC,

its General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Rory O’ Driscoll
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:	 	Rory O’ Driscoll
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	Managing Member
	 

	 	 	 	 

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	INVESTORS:
	 
	 	 	 	 
	 	 	Hummer Winblad Venture Partners V,
L.P.,
	 	 	as nominee for
	 
	 	 	 	 
	 	 	Hummer Winblad Venture Partners V, L.P. and
	 	 	Hummer Winblad Venture Partners V-A, L.P.
	 
	 	 	 	 
	 

	 	by:
	 	Hummer Winblad Equity Partners V, L.L.C.,

General Partner
	 
	 
	 	By: 	 	/s/ Todd Forrest 
	 
	 	 	 	 
	 

	 	 	 	Todd Forrest
	 

	 	 	 	its Chief Financial Officer

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	FOUNDERS:
	 
	 	 	 	 
	 

	 	By:	 	/s/ Joshua G. James 
	 

	 	 	 	 
	 

	 	 	 	Joshua G. James
	 
	 	 	 	 
	 	 	Cocolalla, LLC
	 
	 	 	 	 
	 

	 	By:	 	/s/ Joshua G. James
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:	 	Joshua G. James
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	CEO, Managing Member
	 

	 	 	 	 

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	FOUNDERS:
	 
	 	 	 	 
	 

	 	By:	 	/s/ John Pestana 
	 

	 	 	 	 
	 

	 	 	 	John Pestana
	 
	 	 	 	 
	 	 	Erutinmo, LLC
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	/s/ John Pestana
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:	 	John Pestana 
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	Manager
	 

	 	 	 	 

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	FOUNDERS:
	 
	 	 	 	 
	 	 	The John Pestana Variable Charitable Trust,
	 
	 	 	 	 
	 	 	an irrevocable trust
	 
	 	 	 	 
	 

	 	By:	 	/s/ Robert V. Seolas
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Name:	 	Robert V. Seolas
	 

	 	 	 	 
	 
	 	 	 	 
	 

	 	Title:	 	Trustee
	 

	 	 	 	 

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	ADDITIONAL HOLDERS:
	 
	 	 	 	 
	 	 	BATTERY VENTURES VII, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Battery Partners VII, LLC
	 

	 	 	 	General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Thomas Crotty 
	 

	 	 	 	 
	 

	 	Name:	 	Thomas Crotty 
	 

	 	Title:
	 	Member Manager
	 
	 	 	 	 
	 	 	BATTERY INVESTMENT PARTNERS VII, LLC
	 
	 	 	 	 
	 

	 	By:
	 	Battery Partners VII, LLC
	 

	 	 	 	Manager
	 
	 	 	 	 
	 

	 	By:	 	/s/ Thomas Crotty 
	 

	 	 	 	 
	 

	 	Name:	 	Thomas Crotty 
	 

	 	Title:
	 	Member Manager

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	ADDITIONAL HOLDERS:
	 
	 	 	 	 
	 	 	CROSSLINK VENTURES IV, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Crosslink Ventures IV Holdings, L.L.C., its General
Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Michael J. Stark 
	 

	 	 	 	 
	 

	 	 	 	Michael J. Stark, Managing Member
	 
	 	 	 	 
	 	 	OFFSHORE CROSSLINK
OMEGA VENTURES IV (a Cayman Islands Unit Trust)
	 
	 	 	 	 
	 

	 	By:
	 	Crosslink Ventures IV Holdings, L.L.C., Investment
Manager
	 
	 	 	 	 
	 

	 	By:	 	/s/ Michael J. Stark 
	 

	 	 	 	 
	 

	 	 	 	Michael J. Stark, Managing Member
	 
	 	 	 	 
	 	 	CROSSLINK OMEGA VENTURES IV GmbH & Co. KG
	 
	 	 	 	 
	 

	 	By:
	 	Crosslink Verwaltungs GmbH, General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Michael J. Stark 
	 

	 	 	 	 
	 

	 	 	 	Michael J. Stark, Managing Director
	 
	 	 	 	 
	 	 	OMEGA BAYVIEW IV, L.L.C.
	 
	 	 	 	 
	 

	 	By:	 	/s/ Michael J. Stark 
	 

	 	 	 	 
	 

	 	 	 	Michael J. Stark, Managing Member
	 
	 	 	 	 
	 	 	CROSSLINK CROSSOVER FUND IV, L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Crossover Fund IV Management, L.L.C.,
	 

	 	 	 	Its General Partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Michael J. Stark 
	 

	 	 	 	 
	 

	 	 	 	Michael J. Stark, Managing Member

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

	 	 	 	 	 
	 	 	ADDITIONAL HOLDERS:
	 
	 	 	 	 
	 	 	3i TECHNOLOGY PARTNERS II L.P.
	 
	 	 	 	 
	 

	 	By:
	 	3i Technology Associates II LLC, its general

partner
	 
	 	 	 	 
	 

	 	By:
	 	3i Technology Corporation, its manager
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	/s/ Robin Murray
	 

	 	 	 	 
	 

	 	 	 	Name: Robin Murray
	 

	 	 	 	Title: Partner
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	3i GLOBAL TECHNOLOGY 2004-06 LP
	 
	 	 	 	 
	 

	 	By:
	 	3i Group Investments GP Limited, its general

partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Robin Murray
	 

	 	 	 	 
	 

	 	 	 	Name: Robin Murray
	 

	 	 	 	Attorney-in-fact
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	3i PAN EUROPEAN TECHNOLOGY 2004-06 LP
	 
	 	 	 	 
	 

	 	By:
	 	3i Group Investments GP Limited, its general

partner
	 
	 	 	 	 
	 

	 	By:	 	/s/ Robin Murray
	 

	 	 	 	 
	 

	 	 	 	Name: Robin Murray
	 

	 	 	 	Attorney-in-fact
	 
	 	 	 	 
	 
	 	 	 	 
	 	 	MAYFLOWER L.P.
	 
	 	 	 	 
	 

	 	By:
	 	Mayflower GP, its general partner
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:	 	/s/ Robin Murray
	 

	 	 	 	 
	 

	 	 	 	Name: Robin Murray
	 

	 	 	 	Attorney-in-fact

[Signature Page to Amended and Restated Registration Rights Agreement]

 

 

EXHIBIT A

Investors

	 	 	 
	Name and Address
	 
	 	 
	David Fraser Bullock

1683 Box Elder Drive, Alpine, UT 84004

	 	M&S Investments, LLC

3865 S. Wasatch Blvd., Suite 300

Salt Lake City, UT 84109

Attn: Monte Max Deere, Jr.
	 
	 	 
	Roger B. McOmber

270 Oakridge Avenue, Summit, NJ 07901

	 	John E. Richards

2729 204th Lane NE, Redmond, WA 98053
	 
	 	 
	Martin Culver

c/o David Fraser Bullock

1683 Box Elder Drive, Alpine, UT 84004

	 	Bradley Larkin

3-30-5-105 Horie, Urayasu City, Chiba

Japan 279-0041
	 
	 	 
	Richard M. Knapp

P.O. Box 342, Provo, UT 84603

	 	Peter Richards

1 Crescent Key Bellevue, WA 98006
	 
	 	 
	Scott W. Frazier

913 Sunburst Lane, Alpine, UT 84004

	 	Ty D. Mattingly

22 West 620 South, Orem, UT 84058
	 
	 	 
	Redlitz Family Trust ID #95-6579773

c/o Louise Redlitz

8515 Costa Verde Blvd., #408

San Diego, CA 92122

	 	E. Jeffrey Smith

P.O. Box 3329, Park City, UT 84060
	 
	 	 
	Edwin H. Adams

Parkview, Tower 17, Apt. 2293

88 Tai Tam, Reservoir Road, Hong Kong

	 	David B. Allen

5165 W. Country Club Dr., Highland, UT 84003
	 
	 	 
	Keith Leavitt

1425 E. 80th Street, Lindon, UT 84042

	 	Peter D. Harrison

1530 E. River Oaks Dr., Sandy, UT 84093
	 
	 	 
	Sunridge Development Corp.

4379 Mile High Drive, Provo, UT 84603

Attn: Michael Stewart

	 	D. Todd Shepherd

10840 S. Lostwood Dr., Sandy, UT 94093
	 
	 	 
	James E. Sheffield

28227 Meadowlark Drive, Golden, CO 80401

	 	Mark C. Hendricks

11508 Skipwith Ln., Potomac, MD 20854
	 
	 	 
	Brent Robinson

1020 North Sunbrook Circle, Alpine, UT 84004

	 	Andrew Dischman

4739 Wander Lane, Salt Lake City, UT 84117
	 
	 	 
	Stanford J. Ricks

64 No. 920 East, Orem, UT 84097

	 	Ben Dummar

1545 E Center Cr. Dr., Heber City, UT 84032
	 
	 	 
	Shawn K. O’Neill

525 Jersey St.

San Francisco, CA 94114

	 	Alpine Securities, FBO J. Anthony Antonelli

4182 Juniper Circle, Alpine, UT 84004

 

 

	 	 	 
	Name and Address
	 
	 	 
	Lindorf Angel Investments LLC

2155 North Freedom Blvd., Provo, UT 84604

Attn: Ron Lindorf

	 	Vintage Estates LLC

5072 North 300 West, Provo, UT 84604

Attn: Jeff Knowles
	 
	 	 
	Stephen W. Gibson, Trustee for Stephen W. Gibson Trust
dated 06/25/91

3355 N University Ave, Suite 250, Provo, UT 84604

	 	David Timpson

933 North 100 East, Pleasant Grove, UT 84062
	 
	 	 
	Nathan Ricks, Trustee of the J.T. Management, Inc.
Emp. Ret. Plan

2491 Riverfront Dr., Santa Clara, UT 84765

	 	VeriSign Capital Management, Inc.

487 Middlefield Road, Building 2

Mountain View, CA 94043

Attn: General Counsel
	 
	 	 
	F&W Investments 1999

c/o Fenwick & West LLP

Silicon Valley Center

801 California, Mountain View, CA 94041

	 	University Opportunity Fund, LLC

299 South Main Street, Suite 900

Salt Lake City, UT 84111

Attn: Jared Hutchings
	 
	 	 
	Beverly Parenti

160 Vista Grande, Greenbrae, CA 94904

	 	Hummer Winblad Venture Partners V, L.P.

1 Lombard Street

San Francisco, CA 94111

Attn: Todd Forrest
	 
	 	 
	G&J Capital Management

85 W 680 South, Orem, UT 84058

Attn: Boyd Pultan, Operating Manager

	 	The Board of Trustees of the Leland Stanford Junior University
(Daper1)

Stanford Management Company

2770 Sand Hill Road

Menlo Park, CA 94025

Attn: Tyler Edelstein

	 
	 	 
	Margaret B. Horne Family Revocable Trust dated
October 16, 1992

4297 North 100 East, Provo, UT 94604

	 	F&W Investments LLC — Series 2004

Silicon Valley Center

801 California St., Mountain View, CA 94041
	 
	 	 
	Kyle Bowen Love, Trustee of KCL NACT Unitrust dtd 11/16/94

912 E. 260 North, Orem, UT 84097

	 	DoubleClick Inc.

111 Eighth Avenue

New York, NY 10011

Fax: 212-683-0001

Attention: General Counsel
	 
	 	 
	Frank Johnson

2373 Dayspring Land, Salt Lake City, UT 84124

	 	BAVP VII, L.P.

950 Tower Lane, Suite 700

Foster City, CA 94404
	 
	 	 
	Edward and Valerie Johnson

419 South 10 West, Farmington, UT 84025
	 	 
	 
	 	 
	University Opportunity Affiliates Fund, LLC

299 South Main Street, Suite 900

Salt Lake City, UT 84111

Attn: Jared Hutchings

	 	Attractor Ventures LLC

1440 Chapin Ave., Suite 201

Burlingame, CA 94010

Attention: Harvey Allison

 

 

	 	 	 
	Name and Address
	 
	 	 
	Attractor QP LP

1440 Chapin Ave., Suite 201

Burlingame, CA 94010

Attention: Harvey Allison

	 	Attractor LP

1440 Chapin Ave., Suite 201

Burlingame, CA 94010

Attention: Harvey Allison
	 
	 	 
	Attractor Institutional LP

1440 Chapin Ave., Suite 201

Burlingame, CA 94010

Attention: Harvey Allison

	 	Arc Securities Ltd

La Corvee House, La Corvee, Alderney

Channel Islands, GY93Tq

Admin. Office:

47 Strand Street, Suite 401, Cape Town 8001
	 
	 	 
	Francis Chen

1821 Jones Street

San Francisco, CA 94109

	 	Levinthal/Schlein Family Trust

72 White Pine Canyon Road

Park City, UT 84060
	 
	 	 
	Monarch Partners, LLC

10011 S. Wasatch Blvd.

Sandy, UT 84092

	 	Shawn & Shannon O’Neill

525 Jersey St.

San Francisco, CA 94114
	 
	 	 
	WS Investment Company, LLC (2005C)

650 Page Mill Road

Palo Alto, CA 94304-1050

	 	Beverly Parenti

160 Vista Grande, Greenbrae, CA 94904
	 
	 	 
	Dragon Development, LLC

1145 Stradella Rd.

Los Angeles, CA 90077

	 	The Lynch Family Trust Agreement dated the 15th day of May, 2005,
Morgan I. Lynch and Rachelle Lynch, Trustees

10354 N. Forest Creek

Cedar Hills, UT 84062

 

 

EXHIBIT B

Founders

Name and Address

 

Joshua G. James

4264 North Mile High Drive

Provo, UT 84604

Cocolalla, LLC

4264 North Mile High Drive

Provo, UT 84604

attn: Joshua G. James

Erutinmo, LLC

3563 North Sioux Circle

Provo, UT 84604

attn: John Pestana

Joseph F. Ollivier

4645 Mile High Drive

Provo, UT 84604

The John Pestana Variable Charitable Trust, an irrevocable trust

3563 Sioux Circle

Provo, UT 84604

 

 

EXHIBIT C

Additional Holders

Name and Address

 

3i Technology Partners II LP

275 Middlefield Road

Menlo Park, CA 94025

3i Global Technology 2004-06 LP

275 Middlefield Road

Menlo Park, CA 94025

3i Pan European Technology 2004-06 LP

275 Middlefield Road

Menlo Park, CA 94025

Mayflower LP

275 Middlefield Road

Menlo Park, CA 94025

Crosslink Ventures IV, L.P.

Two Embarcadero Center, Suite 2200

San Francisco, CA 94111

Crosslink Omega Ventures IV GmbH & Co. KG

Two Embarcadero Center, Suite 2200

San Francisco, CA 94111

Offshore Crosslink Omega Ventures IV (Cayman Islands Unit Trust)

Two Embarcadero Center, Suite 2200

San Francisco, CA 94111

Omega Bayview IV, LLC

Two Embarcadero Center, Suite 2200

San Francisco, CA 94111

Crosslink Crossover Fund IV, L.P.

Two Embarcadero Center, Suite 2200

San Francisco, CA 94111

Battery Ventures VII, L.P.

20 William Street, Suite 200

Wellesley, MA 02481

Battery Investment Partners VII, LLC

20 William Street, Suite 200

Wellesley, MA 02481

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