Document:

EXHIBIT 4.1

 

THIRD AMENDMENT
 TO
 RIGHTS AGREEMENT

 

THIS THIRD AMENDMENT TO RIGHTS AGREEMENT (the “Amendment”) is entered into as of February 11, 2011, between EVOLVING SYSTEMS, INC., a Delaware corporation (the “Company”), and AMERICAN STOCK TRANSFER & TRUST COMPANY LLC (the “Rights Agent”).

 

WHEREAS, the Company and the Rights Agent have entered into that certain Rights Agreement dated as of March 4, 2009, as amended by that certain First Amendment to Rights Agreement dated as of December 10, 2009 and that certain Second Amendment to Rights Agreement dated as of April 20, 2010 (as amended, the “Rights Agreement”); and

 

WHEREAS, the Company and the Rights Agent wish to amend the Rights Agreement in order to change the “Final Expiration Date” to March 1, 2011.

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

1.                                      Section 7(a) of the Rights Agreement is hereby amended and restated in its entirety to read as follows:

 

(a)                                 The registered holder of any Right Certificate may exercise the Rights evidenced thereby (except as otherwise provided herein) in whole or in part at any time after the Distribution Date upon surrender of the Right Certificate, with the form of election to purchase on the reverse side thereof duly executed, to the Rights Agent at the office of the Rights Agent designated for such purpose, together with payment of the Purchase Price for each one one-hundredth of a Preferred Share (or such other number of shares or other securities) as to which the Rights are exercised, at or prior to the earliest of (i) the Close of Business on March 1, 2011 (the “Final Expiration Date”), (ii) the time at which the Rights are redeemed as provided in Section 23 hereof (the “Redemption Date”), or (iii) the time at which such Rights are exchanged as provided in Section 24 hereof.

 

2.                                      All other references to “March 4, 2019” as the “Final Expiration Date” in the Rights Agreement, including in Exhibits B and C thereto, are hereby amended to be “March 1, 2011.”

 

3.                                      All capitalized terms used, but not otherwise defined herein shall have the meanings ascribed to such terms in the Rights Agreement.

 

4.                                      The Rights Agreement, as amended hereby, shall be and remain in full force and effect in accordance with its terms and is ratified and confirmed hereby in all respects.

 

5.                                      This Amendment may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

 

6.                                      This Amendment shall be deemed to be a contract made under the laws of the State of Delaware and for all purposes shall be governed by and construed in accordance with the laws of such State applicable to contracts to be made and performed entirely within such State.

 

7.                                      This Amendment and the other documents delivered pursuant hereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof.

 

8.                                      If any term, provision, covenant or restriction of this Amendment is held by a court of competent jurisdiction or other authority to be invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions of this Agreement shall remain in full force and effect and shall in no way be affected, impaired or invalidated.  Upon a determination that any term, provision, covenant or restriction of this Amendment is invalid, void or unenforceable, the parties shall negotiate in good faith to modify this Agreement so as to effect the original intent of the parties as closely as possible in an acceptable manner.

 

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IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed, all as of the day and year first above written.

 

 

	
 
    	
Attest:
    	
EVOLVING   SYSTEMS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   THADDEUS DUPPER
    
	
 
    	
Thaddeus   Dupper
    
	
 
    	
President   and Chief Executive Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   ANITA T. MOSELEY
    
	
 
    	
Anita   T.Moseley
    
	
 
    	
Secretary
    

 

 

	
 
    	
Attest:
    	
AMERICAN   STOCK TRANSFER & TRUST COMPANY LLC
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   KARISHMA KADIAN
    
	
 
    	
Print   Name:
    	
Karishma   Kadian
    
	
 
    	
Title:
    	
Counsel
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   SUSAN SILBUR
    
	
 
    	
Print   Name:
    	
Susan   Silbur
    
	
 
    	
Title:
    	
Assistant   SecretaryEXHIBIT 10.2

 

ENDORSEMENT TO 10% SENIOR SECURED CONVERTIBLE NOTE

 

Precision Optics Corporation, Inc.
 New York, New York
 February 7, 2011

 

The 10% Senior Secured Convertible Note dated June 25, 2008 and amended December 11, 2008, June 25, 2010 July 26, 2010, September 15, 2010, October 15, 2010, November 15, 2010, November 30, 2010, December 1, 2010, December 3, 2010 and December 17, 2010, January 10, 2011 and January 24, 2011 (the “Note”) of Precision Optics Corporation, Inc., a Massachusetts corporation (the “Company”), payable to the order of Special Situations Private Equity Fund, L.P. (the “Holder”) in an aggregate principal amount of $275,000 and to which the Endorsement is affixed is hereby amended in the following respects:

 

1.                                       The term “Stated Maturity Date” is hereby restated to be “February 25, 2011.”

 

2.                                       Except as expressly amended by this Endorsement, the Note remains in full force and effect and the Company hereby reconfirms its obligations thereunder.

 

IN WITNESS WHEREOF, the Company has caused this Endorsement to be duly executed, and the Holder has caused this Endorsement to be duly accepted, by their respective duly authorized representatives as of the day and year first above written.

 

	
 
    	
 
    
	
 
    	
PRECISION   OPTICS CORPORATION, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
/s/   Richard E. Forkey
    
	
 
    	
 
    
	
 
    	
 
    	
Name:   Richard E. Forkey
    
	
 
    	
 
    	
Title:   Chief Executive Officer
    
	
 
    	
 
    
	
Accepted:
    	
 
    
	
 
    	
 
    
	
SPECIAL   SITUATIONS PRIVATE EQUITY FUND, L.P.
    	
 
    
	
 
    	
 
    
	
By:
    	
/s/   Adam Stettner
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:   Adam Stettner
    	
 
    
	
 
    	
Title:   General PartnerEXHIBIT 10.3

 

ENDORSEMENT TO 10% SENIOR SECURED CONVERTIBLE NOTE

 

Precision Optics Corporation, Inc.
 New York, New York
 February 7, 2011

 

The 10% Senior Secured Convertible Note dated June 25, 2008 and amended December 11, 2008, June 25, 2010, July 26, 2010, September 15, 2010, October 15, 2010, November 15, 2010, November 30, 2010, December 1, 2010, December 3, 2010, December 17, 2010,  January 10, 2011 and January 24, 2011 (the “Note”) of Precision Optics Corporation, Inc., a Massachusetts corporation (the “Company”), payable to the order of Special Situations Fund III, QP, L.P. (the “Holder”) in an aggregate principal amount of $275,000 and to which the Endorsement is affixed is hereby amended in the following respects:

 

1.                                       The term “Stated Maturity Date” is hereby restated to be “February 25, 2011.”

 

2.                                       Except as expressly amended by this Endorsement, the Note remains in full force and effect and the Company hereby reconfirms its obligations thereunder.

 

IN WITNESS WHEREOF, the Company has caused this Endorsement to be duly executed, and the Holder has caused this Endorsement to be duly accepted, by their respective duly authorized representatives as of the day and year first above written.

 

	
 
    	
 
    
	
 
    	
PRECISION   OPTICS CORPORATION, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
/s/   Richard E. Forkey
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:   Richard E. Forkey
    
	
 
    	
 
    	
Title:   Chief Executive Officer
    
	
 
    	
 
    	
 
    
	
Accepted:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
SPECIAL   SITUATIONS FUND III QP, L.P.
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By:
    	
/s/   Adam Stettner
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
Name:   Adam Stettner
    	
 
    	
 
    
	
 
    	
Title:   General PartnerEXHIBIT 10.4

 

ENDORSEMENT TO 10% SENIOR SECURED CONVERTIBLE NOTE

 

Precision Optics Corporation, Inc.

New York, New York

February 7, 2011

 

The 10% Senior Secured Convertible Note dated June 25, 2008 and amended December 11, 2008, June 25, 2010, July 26, 2010, September 15, 2010, October 15, 2010, November 15, 2010, November 30, 2010, December 1, 2010 December 3, 2010, December 17, 2010, January 10, 2011 and January 24, 2011 (the “Note”) of Precision Optics Corporation, Inc., a Massachusetts corporation (the “Company”), payable to the order of Arnold Schumsky (the “Holder”) in an aggregate principal amount of $50,000 and to which this Endorsement is affixed is hereby amended in the following respects:

 

1.            The term “Stated Maturity Date” is hereby restated to be “February 25, 2011.”

 

2.                                       Except as expressly amended by this Endorsement, the Note remains in full force and effect and the Company hereby reconfirms its obligations thereunder.

 

IN WITNESS WHEREOF, the Company has caused this Endorsement to be duly executed, and the Holder has caused this Endorsement to be duly accepted, by their respective duly authorized representatives as of the day and year first above written.

 

	
 
    	
 
    	
 
    
	
 
    	
PRECISION   OPTICS CORPORATION, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
By
    	
/s/   Richard E. Forkey
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
Name:   Richard E. Forkey
    
	
 
    	
 
    	
Title:   Chief Executive Officer
    

 

	
Accepted:
    	
 
    
	
 
    	
 
    
	
 
    	
 
    
	
/s/   Arnold Schumsky
    	
 
    
	
 
    	
 
    
	
Arnold   Schumsky

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