Document:

Warrant to Purchase Preferred Stock dated March 9, 2007

 Exhibit 4.6 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD,
PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR PURSUANT TO RULE 144 OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS. 
 WARRANT TO PURCHASE STOCK 
 Corporation: Newgistics, Inc. 
 Number of Shares: 3,758,621 

Class of Stock: Series E Preferred Stock 
 Initial Exercise Price: $0.12442 per share 
 Issue Date: March 9, 2007

 Expiration Date; March 9, 2014 
 THIS WARRANT TO PURCHASE STOCK (“WARRANT”) CERTIFIES THAT, for good and valuable consideration, the receipt of which is hereby acknowledged, COMERICA BANK, a Michigan banking corporation, or its
assignee (“Holder”), is entitled to purchase the number of fully paid and nonassessable shares of the class of securities (the “Shares”) of Newgistics, Inc. (the “Company”) at the initial exercise price per Share (the
“Warrant Price”) all as set forth above and as adjusted pursuant to this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant. 

 

	ARTICLE 1	 EXERCISE 

1.1 Method of Exercise. Holder may exercise this Warrant by delivering this Warrant and a duly executed Notice of Exercise in
substantially the form attached as Appendix 1 to the principal office of the Company. Holder shall also deliver to the Company a check or wire for the aggregate Warrant Price for the Shares being purchased. 

1.2 Delivery of Certificate and New Warrant. Within 45 days after Holder exercises this Warrant, the Company shall deliver to Holder
certificates for the Shares acquired and, if this Warrant has not been fully exercised and has not expired, a new warrant representing the Shares not so acquired. 
 1.3 Replacement of Warrants. In the case of loss, theft or destruction of this Warrant, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of
mutilation, on surrender and cancellation of this Warrant, the Company at its expense shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 
 1.4 Acquisition of the Company. 
 1.4.1 “Acquisition.” For the purpose of
this Warrant, “Acquisition” means (a) any sale, license, or other disposition of all or substantially all of the assets (including intellectual property) of the Company, or (b) any reorganization, consolidation, merger or sale of
the voting securities of the 

  
 1 

 
Company or any other transaction where the holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving
entity after the transaction. 
 1.4.2 Assumption of Warrant. Upon the closing of any Acquisition (other than an Acquisition in
which the consideration received by the Company’s stockholders consists solely of cash), and as a condition precedent thereto, the successor or surviving entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable
for the same securities, cash, and property as would be payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The
Warrant Price shall be adjusted accordingly, and the Warrant Price and number and class of Shares shall continue to be subject to adjustment from time to time in accordance with the provisions hereof. 

 

	ARTICLE 2	 ADJUSTMENTS TO THE SHARES 

 2.1 Stock Dividends, Splits. Etc. If the Company declares or pays a dividend on its common stock payable in common stock, or other securities, or subdivides the outstanding common stock into a greater
amount of common stock, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record
as of the date the dividend or subdivision occurred. 
 2.2 Reclassification. Exchange or Substitution. Upon any
reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of
this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event. Such an event shall
include any automatic conversion of the outstanding or issuable securities of the Company of the same class or series as the Shares to common stock pursuant to the terms of the Company’s Certificate of Incorporation upon the closing of a
registered public offering of the Company’s common stock. The Company or its successor shall promptly issue to Holder a new warrant for such new securities or other property. The new warrant shall provide for adjustments which shall be as
nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new warrant. The
provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 
 2.3 Adjustments for Combinations. Etc. If the outstanding Shares are combined or consolidated, by reclassification, reverse split or otherwise, into a lesser Number of Shares, the Warrant Price shall be
proportionately increased and the shares exercisable hereunder will be decreased- If the outstanding Shares are split or multiplied, by reclassification or otherwise, into a greater Number of Shares, the Warrant Price shall be proportionately
decreased and the shares exercisable hereunder will be increased. 

  
 2 

 2.4 No Impairment. The Company shall not, by amendment of its Certificate of Incorporation
or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid or seek to avoid the observance or performance of any of the terms to be observed or performed
under this Warrant by the Company, but shall at all times in good faith assist in carrying out all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article 2
against impairment In no event shall this Section 2.4 be interpreted to prohibit an amendment to the Certificate of Incorporation, including but not limited to an amendment to change, alter or modify the terms of the Series E Preferred Stock,
so long as any amendment applies equally to all holders of Series E Preferred Stock in the same manner. 
 2.5 Certificate as to
Adjustments. Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such adjustment, and furnish Holder with a certificate signed by its Chief Financial Officer setting forth such adjustment and the facts upon
which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 

2.6 Fractional Shares. No fractional Shares shall be issuable upon exercise of this Warrant and the Number of Shares to be issued shall
be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional share interest by paying Holder an amount computed by multiplying the fractional interest
by the fair market value, as determined by the Company’s Board of Directors, of a full Share. 
  

	ARTICLE 3	 REPRESENTATIONS AND COVENANTS OF THE COMPANY 

 3.1 Representations and Warranties. The Company hereby represents and warrants to, and agrees with, the Holder as follows: 
 3.1.1 All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly
authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 

3.1.2 The Warrant Shares constitute 0.50% of the Company’s issued and outstanding shares on a fully diluted basis, assuming
conversion of all convertible securities and exercise of all warrants, options and other rights to acquire the Company’s stock, measured on the Issue Date. The Company’s capitalization table attached to this Warrant is true and complete as
of the Issue Date. 
 3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or
distribution upon its stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for subscription pro rata to die holders of any class or series of its stock any additional shares of
stock of any class or series or other rights; (c) to effect any reclassification or recapitalization of stock; or (d) to merge or consolidate with or 

  
 3 

 
into any other corporation, or sell, lease, license, or convey all or substantially all of its assets, or to liquidate, dissolve or wind up, then, in connection with each such event, the Company
shall give Holder (1) at least 20 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date on which the holders of stock will be entitled thereto) or
for determining rights to vote, if any, in respect of the matters referred to in (a) and (b) above; and (2) in the case of the matters referred to in (c) and (d) above at least 20 days prior written notice of the date when
the same will take place (and specifying the date on which the holders of stock will be entitled to exchange their stock for securities or other property deliverable upon the occurrence of such event). 

3.3 Information Rights. So long as the Holder holds this Warrant and/or any of the Shares, the Company shall deliver to the Holder
(a) promptly after mailing, copies of all resolutions or action by consent of stockholders of the Company, (b) within 135 days after the end of each fiscal year of the Company, the annual audited financial statements of the Company
certified by independent public accountants of recognized standing and (c) within forty-five (45) days after the end of each of the first three quarters of each fiscal year, the Company’s quarterly, unaudited financial statements.

 3.4 Registration Under Securities Act of 1933, as amended. The Company agrees mat the Shares or, if the Shares are
convertible into common stock of the Company, such common stock, shall be subject to the registration rights set forth on Exhibit A. 
  

	ARTICLE 4	 MISCELLANEOUS 

 4.1 Term; Exercise Upon Expiration. This Warrant is exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above 

4.2 Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any)
shall be imprinted with a legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT’), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS, OR PURSUANT TO RULE 144 OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 4.3 Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if
any) may not be transferred or assigned in whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee. 
 4.4 Transfer Procedure. Subject to the provisions of Section 5.3, Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities issuable,
directly or indirectly, upon conversion of the Shares, if any) by giving the Company notice of the portion of this Warrant being transferred setting forth the name, address and 

  
 4 

 
taxpayer identification number of the transferee and surrendering this Warrant to the Company for reissuance to the transferee(s) (and Holder, if applicable); provided, however, that Holder may
transfer all or part of this Warrant to its affiliates, including, without limitation, Comerica Incorporated, at any time without notice or the delivery of any other instrument to the Company, and such affiliate shall then be entitled to all the
rights of Holder under this Warrant and any related agreements, and the Company shall cooperate fully in ensuring that any stock issued upon exercise of this Warrant is issued in the name of the affiliate that exercises this Warrant. The terms and
conditions of this Warrant shall inure to the benefit of, and be binding upon, the Company and the holders hereof and their respective permitted successors and assigns. Unless the Company is filing financial information with the SEC pursuant to the
Securities Exchange Act of 1934, the Company shall have the right to refuse to transfer any portion of this Warrant to any person who directly competes with the Company. 
 4.5 Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or
certified mail, postage prepaid, at such address as may have been furnished to the Company or the Holder, as the case may be, in writing by the Company or such Holder from time to time. All notices to the Holder shall be addressed as follows:

  

	
	 Comerica Bank c/o Comerica Incorporated

	 Attn: Warrant Administrator

	 500 Woodward Avenue, 32nd Floor, MC 3379

	 Detroit, MI 48226

 All notices to the Company shall be addressed as follows: 
  

	
	 Newgistics, Inc.

	 2700 Via Fortuna, Suite 300

	 Austin, TX 78746

 4.6 Amendments. This Warrant and any term hereof may be changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver,
discharge or termination is sought. 
 4.7 Attorneys’ Fees. In the event of any dispute between the parties concerning the
terms and provisions of this Warrant, the party prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 

4.8 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without giving
effect to its principles regarding conflicts of law. 
 4.9 Confidentiality. The Company hereby agrees to keep the terms and
conditions of this Warrant confidential. Notwithstanding the foregoing confidentiality obligation, the Company may disclose information relating to this Warrant as required by law, rule, regulation, court order or other legal authority, provided
that (i) the Company has given Holder at least ten (10) days’ 

  
 5 

 
notice of such required disclosure, and (ii) the Company only discloses information that is required, in the opinion of counsel reasonably satisfactory to Holder, to be disclosed.

  

			
	 Newgistics, Inc.

		
	 By:
	 	     /s/ Michael J.
Twomey

			
		
	 Name:
	 	 Michael J. Twomey

		
	 Title:
	 	 CFO

  
 6 

 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. The undersigned hereby elects to purchase
             shares of the              stock of Newgistics, Inc. pursuant to the terms of the attached Warrant,
and tenders herewith payment of the purchase price of such shares in full. 
 2. Please issue a certificate or certificates
representing said shares in the name of the undersigned or in such other name as is specified below: 
 Comerica Bank

 Attn: Warrant Administrator 
 500 Woodward Avenue, 32nd Floor, MC 3379 
 Detroit, MI 48226 

3. The undersigned represents it is acquiring the shares solely for its own account and not a nominee for any other party and not with a
view toward the resale or distribution thereof except in compliance with applicable securities laws. 
 COMERICA BANK or
Assignee 
  

	
	  

	 (Signature)

	
	  

	 (Name and Title)

	
	  

	 (Date)

  
 7 

 EXHIBIT A 
 Registration Rights 
 The Shares (if common stock), or the
common stock issuable upon conversion of the Shares, shall be deemed “registrable securities” or otherwise entitled to “piggy back” registration rights in accordance with the terms of the following agreement (the
“Agreement”) between the Company and its investor(s): 
 Third Amended and Restated Investors’
Rights Agreement dated as of September 30, 2002 
 By acceptance of the Warrant to which this Exhibit A is
attached, Holder shall be deemed to be a party to the Agreement solely for the purpose of the above-mentioned registration rights. 

  
 8Warrant to Purchase Preferred Stock dated December 31, 2007

 Exhibit 4.7 
 THIS WARRANT AND THE SHARES ISSUABLE HEREUNDER HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD,
PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS, OR PURSUANT TO RULE 144 OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND ANY APPLICABLE STATE
SECURITIES LAWS. 
 WARRANT TO PURCHASE STOCK 
 Corporation: Newgistics, Inc. 
 Number of Shares: 1,129,240 

Class of Stock: Series E Preferred Stock 
 Initial Exercise Price: $0.12442 per share 
 Issue Date: December 31, 2007

 Expiration Date: December 31, 2014 
 THIS WARRANT TO PURCHASE STOCK (“WARRANT”) CERTIFIES THAT, for good and valuable consideration, the receipt of which is hereby acknowledged, COMERICA BANK, a Texas banking association, or its
assignee (“Holder”), is entitled to purchase the number of fully paid and nonassessable shares of the class of securities (the “Shares”) of Newgistics, Inc. (the “Company”) at the initial exercise price per Share (the
“Warrant Price”) all as set forth above and as adjusted pursuant to this Warrant, subject to the provisions and upon the terms and conditions set forth in this Warrant 

 

	ARTICLE 1	 EXERCISE 

1.1 Method of Exercise. Holder may exercise this Warrant by delivering this Warrant and a duly executed Notice of Exercise in
substantially the form attached as Appendix 1 to the principal office of the Company. Holder shall also deliver to the Company a check or wire for the aggregate Warrant Price for the Shares being purchased. 

1.2 Delivery of Certificate and New Warrant. Within 45 days after Holder exercises this Warrant, the Company shall deliver to Holder
certificates for the Shares acquired and, if this Warrant has hot been fully exercised and has not expired, a new warrant representing the Shares not so acquired. 
 1.3 Replacement of Warrants. In the case of loss, theft or destruction of this Warrant, on delivery of an indemnity agreement reasonably satisfactory in form and amount to the Company or, in the case of
mutilation, on surrender and cancellation of this Warrant the Company at its expense shall execute and deliver, in lieu of this Warrant, a new warrant of like tenor. 
  

	1.4	 Acquisition of the Company. 

 1.4.1 “Acquisition.” For the purpose of this Warrant, “Acquisition” means (a) any sale, license, or other disposition of all or substantially all of the assets (including
intellectual property) of the Company, or (b) any reorganization, consolidation, merger or sale of the voting securities of the 

  
 1 

 
Company or any other transaction where the holders of the Company’s securities before the transaction beneficially own less than 50% of the outstanding voting securities of the surviving
entity after the transaction. 
 1.4.2 Assumption of Warrant. Upon the closing of any Acquisition (other than an Acquisition in
which the consideration received by the Company’s stockholders consists solely of cash), and as a condition precedent thereto, the successor or surviving entity shall assume the obligations of this Warrant, and this Warrant shall be exercisable
for the same securities, cash, and property as would be-payable for the Shares issuable upon exercise of the unexercised portion of this Warrant as if such Shares were outstanding on the record date for the Acquisition and subsequent closing. The
Warrant Price shall be adjusted accordingly, and the Warrant Price and number and class of Shares shall continue to be subject to adjustment from time to time in accordance with the provisions hereof. 

 

	ARTICLE 2	 ADJUSTMENTS TO THE SHARES 

 2.1 Stock Dividends, Splits, Etc. If the Company declares or pays a dividend on its common stock payable in common stock, or other securities, or subdivides the outstanding common stock into a greater
amount of common stock, then upon exercise of this Warrant, for each Share acquired, Holder shall receive, without cost to Holder, the total number and kind of securities to which Holder would have been entitled had Holder owned the Shares of record
as of the date the dividend or subdivision occurred. 
 2.2 Reclassification, Exchange or Substitution. Upon any
reclassification, exchange, substitution, or other event that results in a change of the number and/or class of the securities issuable upon exercise or conversion of this Warrant, Holder shall be entitled to receive, upon exercise or conversion of
this Warrant, the number and kind of securities and property that Holder would have received for the Shares if this Warrant had been exercised immediately before such reclassification, exchange, substitution, or other event Such an event shall
include any automatic conversion of the outstanding or issuable securities of the Company of the same class Or series as the Shares to common stock pursuant to the terms of the Company’s Certificate of Incorporation upon the closing of a
registered public offering of the Company’s common stock. The Company or its successor shall promptly issue to Holder a hew warrant for such new securities or other property. The new warrant shall provide for adjustments which shall be as
nearly equivalent as may be practicable to the adjustments provided for in this Article 2 including, without limitation, adjustments to the Warrant Price and to the number of securities or property issuable upon exercise of the new warrant. The
provisions of this Section 2.2 shall similarly apply to successive reclassifications, exchanges, substitutions, or other events. 
 2.3 Adjustments for Combinations, Etc. If the outstanding Shares are combined or consolidated, by reclassification, reverse split or otherwise, into a lesser Number of Shares, the Warrant Price shall be
proportionately increased and the shares exercisable hereunder will be decreased. If the outstanding Snares are split or multiplied, by reclassification or otherwise, into a greater Number of Shares, the Warrant Price shall be proportionately
decreased and the shares exercisable hereunder will be increased. 

  
 2 

 2.4 No Impairment. The Company shall not, by amendment of its Certificate of Incorporation
or through a reorganization, transfer of assets, consolidation, merger, dissolution, issue, or sale of securities or any other voluntary action, avoid of seek to avoid the observance or performance of any of the terms to be observed or performed
under this Warrant by the Company, but shall at all times in good faith assist in carrying out all the provisions of this Article 2 and in taking all such action as may be necessary or appropriate to protect Holder’s rights under this Article 2
against impairment In no event shall this Section 2.4 be interpreted to prohibit an amendment to the Certificate of Incorporation, including but not limited to ah amendment to change, alter or modify the terms of the Series E Preferred Stock,
so long as any amendment applies equally to all holders of Series E Preferred Stock in the same manner. 
 2.5 Certificate as to
Adjustments. Upon each adjustment of the Warrant Price, the Company at its expense shall promptly compute such adjustment, and furnish Holder with a certificate signed by its Chief Financial Officer setting forth such adjustment and the facts upon
which such adjustment is based. The Company shall, upon written request, furnish Holder a certificate setting forth the Warrant Price in effect upon the date thereof and the series of adjustments leading to such Warrant Price. 

2.6 Fractional Shares. No fractional Shares shall be issuable upon exercise of this Warrant and the Number of Shares to be issued shall
be rounded down to the nearest whole Share. If a fractional share interest arises upon any exercise of the Warrant, the Company shall eliminate such fractional share interest by paying Holder an amount computed by multiplying the fractional interest
by the fair market value, as determined by the Company’s Board of Directors, of a full Share. 
  

	ARTICLE 3	 REPRESENTATIONS AND COVENANTS OF THE COMPANY 

 3.1 Representations and Warranties. The Company hereby represents and warrants to, and agrees with, the Holder as follows: 
 3.1.1 All Shares which may be issued upon the exercise of the purchase right represented by this Warrant, and all securities, if any, issuable upon conversion of the Shares, shall, upon issuance, be duly
authorized, validly issued, fully paid and nonassessable, and free of any liens and encumbrances except for restrictions on transfer provided for herein or under applicable federal and state securities laws. 

3.1.2 The Warrant Shares constitute 0.15% of the Company’s issued and outstanding shares on a fully diluted basis, assuming
conversion of all convertible securities and exercise of all warrants, options and other rights to acquire the Company’s stock, measured on the Issue Date. The Company’s capitalization table attached to this Warrant is true and complete as
of the Issue Date. 
 3.2 Notice of Certain Events. If the Company proposes at any time (a) to declare any dividend or
distribution upon its stock, whether in cash, property, stock, or other securities and whether or not a regular cash dividend; (b) to offer for subscription pro rata to the holders of any class or series of its stock any additional shares of
stock of any class or series or other rights; (c) to effect any reclassification or recapitalization of stock; or (d) to merge or consolidate with or 

  
 3 

 
into any other corporation, Of sell, lease, license, or convey all or substantially all of its assets, of to liquidate, dissolve or wind up, then, in connection with each such event, the Company
shall give Holder (1) at least 20 days prior written notice of the date on which a record will be taken for such dividend, distribution, or subscription rights (and specifying the date On which the holders of stock will be entitled thereto) or
for determining rights to vote, if any, in respect of die matters referred to in (a) and (b) above; and (2) in the case of the matters referred to in (c) and (d) above at least 20 days prior written notice of the date when
the same will take place (and specifying the date on which the holders of stock will be entitled to exchange their stock for securities or other property deliverable upon the occurrence of such event). 

3.3 Information Rights. So long as the Holder holds this Warrant and/or any of the Shares, the Company shall deliver to the Holder
(a) promptly after mailing, copies of all resolutions or action by consent of stockholders of the Company, (b) within 135 days after the end of each fiscal year of the Company, the annual audited financial statements of the Company
certified by independent public accountants of recognized standing and (c) within forty-five (45) days after the end of each of the first three quarters of each fiscal year, the Company’s quarterly, unaudited financial statements.

 3.4 Registration Under Securities Act of 1933, as amended. The Company agrees that the Shares or, if the Shares are
convertible into common stock of the Company, such common stock, shall be subject to the registration rights set forth on Exhibit A. 
  

	ARTICLE 4	 MISCELLANEOUS 

 4.1 Term; Exercise Upon Expiration. This Warrant is exercisable in whole or in part, at any time and from time to time on or before the Expiration Date set forth above 

4.2 Legends. This Warrant and the Shares (and the securities issuable, directly or indirectly, upon conversion of the Shares, if any)
shall be imprinted with a legend in substantially the following form: 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED (THE “ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS, AND MAY NOT BE SOLD, PLEDGED OR OTHERWISE TRANSFERRED WITHOUT AN EFFECTIVE REGISTRATION THEREOF UNDER THE ACT AND ANY APPLICABLE STATE SECURITIES
LAWS, OR PURSUANT TO RULE 144 OR AN EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE ACT AND ANY APPLICABLE STATE SECURITIES LAWS. 
 4.3 Compliance with Securities Laws on Transfer. This Warrant and the Shares issuable upon exercise of this Warrant (and the securities issuable, directly or indirectly, upon conversion of the Shares, if
any) may not be transferred or assigned in Whole or in part without compliance with applicable federal and state securities laws by the transferor and the transferee. 
 4.4 Transfer Procedure; Subject to’ the provisions of Section 5.3, Holder may transfer all or part of this Warrant or the Shares issuable upon exercise of this Warrant (or the securities
issuable, directly or indirectly, upon conversion of the Shares, if any) by giving the Company notice of the portion of this Warrant being transferred setting forth the name, address and 

  
 4 

 
taxpayer identification number of the transferee and surrendering this Warrant to the Company for reissuance to the transferee(s) (and Holder, if applicable); provided, however, that Holder may
transfer all or part of this Warrant to its affiliates, including, without limitation, Comerica Incorporated, at. any time without notice or the delivery of any other instrument to the Company, and such affiliate shall then be entitled to all the
rights of Holder under this Warrant and any related agreements, and the Company shall cooperate fully in ensuring that any stock issued upon exercise of this Warrant is issued id the name of the affiliate that exercises this Warrant. The terms and
conditions of this Warrant shall inure to the benefit of, and be binding upon, the Company and the holders hereof and their respective permitted successors and assigns. Unless the Company is filing financial information with the SEC pursuant to the
Securities Exchange Act of 1934» the Company shall have the right to refuse to transfer any portion of this Warrant to any person who directly competes with the Company. 
 4.5 Notices. All notices and other communications from the Company to the Holder, or vice versa, shall be deemed delivered and effective when given personally or mailed by first-class registered or
certified mail, postage prepaid, at such address as may have been furnished to the Company or the Holder, as the case may be, in writing by the Company or such Holder from time to time. All notices to the Holder shall be addressed as follows:

 Comerica Bank c/o Comerica Incorporated 
 Attn: Warrant Administrator 
 500 Woodward Avenue, 32nd Floor, MC 3379 

Detroit, MI 48226 
 All notices to the Company shall be addressed as follows: 
 Newgistics, Inc.

 2700 Via Fortuna Suite 300 
 Austin, TX 78746 
 4.6 Amendments. This Warrant and any term hereof may be
changed, waived, discharged or terminated only by an instrument in writing signed by the party against which enforcement of such change, waiver, discharge or termination is sought. 

4.7 Attorneys’ Fees. In the event of any dispute between the parties concerning the terms and provisions of this Warrant, the party
prevailing in such dispute shall be entitled to collect from the other party all costs incurred in such dispute, including reasonable attorneys’ fees. 
 4.8 Governing Law. This Warrant shall be governed by and construed in accordance with the laws of the State of California, without giving effect to its principles regarding conflicts of law. 

4.9 Confidentiality. The Company hereby agrees to keep the terms and conditions of this Warrant confidential. Notwithstanding the
foregoing confidentiality obligation, the Company 

  
 5 

 
may disclose Information relating to this Warrant as required by law, rule, regulation, court order or other legal authority, provided that (i) the Company has given Holder at least ten
(10) days’ notice of such required disclosure, and (ii) the Company only discloses information that is required, in the opinion of counsel reasonably satisfactory to Holder, to be disclosed. 

 

			
	 Newgistics, Inc.

		
	 By:
	 	     /s/ Michael J. Twomey

		
	 Name:
	 	 Michael J. Twomey

		
	 Title:
	 	 CFO

  
 6 

 APPENDIX 1 
 NOTICE OF EXERCISE 
 1. The undersigned hereby elects to purchase
             shares of the              stock of Newgistics, Inc. pursuant to the terms of the attached Warrant,
and tenders herewith payment of the purchase price of such shares in full. 
 2. Please issue a certificate or certificates
representing said shares in the name of the undersigned or in such other name as is specified below: 
 Comerica Bank

 Attn: Warrant Administrator 
 500 Woodward Avenue, 32nd” Floor, MC 3379 
 Detroit, MI 48226 

3. The undersigned represents it is acquiring the shares solely for its own account and not as a nominee for any other party and not with
a View toward the resale or distribution thereof except in compliance with applicable: securities laws. 
 COMERICA BANK or
Assignee 
  

	
	
	  

(Signature)

	
	  
 (Name and
Title)

	
	  

(Date)

  
 7 

 EXHIBIT A 
 Registration Rights 
 The Shares (if Common stock), or the
common stock issuable upon conversion of the Shares, shall be deemed “registrable securities” or otherwise entitled to “piggy back” registration rights in accordance with the terms of the following agreement (the
“Agreement”) between the Company and its investors): 
 Third Amended and Restated Investors’
Rights Agreement dated as of September 30, 2002 
 By acceptance of the Warrant to which this Exhibit A is
attached, Holder shall be deemed to be a party to the Agreement solely for the purpose of the above-mentioned registration rights. 

  
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