Document:

exv10w4

 

Exhibit 10.4

CONSENT AND THIRTEENTH AMENDMENT TO

LOAN AND SECURITY AGREEMENT

          THIS CONSENT AND THIRTEENTH AMENDMENT TO LOAN AND SECURITY AGREEMENT (this “Amendment”) is
entered into as of September 19 , 2005, by and among Lenders, WELLS FARGO FOOTHILL,
INC., a California corporation, as the arranger and administrative agent for the Lenders
(“Agent”) and MIDWAY HOME ENTERTAINMENT INC., a Delaware corporation (“Midway”),
MIDWAY AMUSEMENT GAMES, LLC, a Delaware limited liability company (“MAG”; Midway and MAG are
referred to hereinafter each individually as a “Borrower”, and individually and
collectively, jointly and severally, as the “Borrowers”), MIDWAY GAMES INC., a Delaware
corporation (“Parent”), MIDWAY GAMES WEST INC., a California corporation (“MGW”),
MIDWAY INTERACTIVE INC., a Delaware corporation (“MI”), MIDWAY SALES COMPANY, LLC, a
Delaware limited liability company (“MSC”), MIDWAY HOME STUDIOS INC., a Delaware
corporation (“MHS”), SURREAL SOFTWARE INC., a Washington corporation (“Surreal”),
MIDWAY STUDIOS – AUSTIN INC., a Texas corporation (“MSA”), MIDWAY STUDIOS – LOS ANGELES INC., a
California corporation (“MSLA”) (“MSD”; Parent, MGW, MI, MSC, MHS, Surreal, MSA and MSLA, are
referred to hereinafter each individually as a “U.S. Credit Party” and individually and
collectively, jointly and severally, as the “U.S. Credit Parties”).

          WHEREAS, Borrowers, U.S. Credit Parties, Agent, and Lenders are parties to that certain Loan
and Security Agreement dated as of March 3, 2004 (as amended, modified or supplemented from time to
time, the “Loan Agreement”);

          WHEREAS, Borrowers have advised Agent and Lenders that Parent desires to issue $75,000,000
convertible senior notes (the “Note Issuance”) pursuant that certain Offering Memorandum,
dated September 13, 2005, and attached hereto as Exhibit A (the “Offering Memorandum”) and
that certain Indenture, dated September 19, 2005 and attached hereto as Exhibit B (the
“Indenture”);

          WHEREAS, Borrowers and U.S. Credit Parties desire for Agent and Required Lenders to consent to
Note Issuance as set forth herein; and

          WHEREAS, Borrowers, U.S. Credit Parties, Agent and Lenders have agreed to amend the Loan
Agreement in certain respects, subject to the terms and conditions contained herein.

          NOW THEREFORE, in consideration of the premises and mutual agreements herein contained, the
parties hereto agree as follows:

          1. Defined Terms. Unless otherwise defined herein, capitalized terms used herein
shall have the meanings ascribed to such terms in the Loan Agreement.

          2. Consent. Subject to the satisfaction of the conditions set forth in Section 5
below, Agent and Required Lenders hereby consent to the Note Issuance in

 

 

accordance with the terms
of the Offering Memorandum and the Indenture. This is a limited consent and shall not be deemed to
constitute a waiver of, or consent to, any other future breach of the Loan Agreement (as amended by
this Amendment).

          3. Amendment to Loan Agreement. Subject to the satisfaction of the conditions set
forth in Section 5 hereof, the Loan Agreement is amended as follows:

          (a) The following definition is added to Section 1.1 of the Loan Agreement, in its appropriate
alphabetical order:

     “Junior Notes” means those certain six percent (6.00%) convertible
senior notes in the principal amount of at $75,000,000, issued pursuant that certain
Offering Memorandum dated as of September 13, 2005 and governed by that certain
Indenture dated as of September 19, 2005 including the obligation to pay additional
interest on the notes under the registration rights agreement described in the
Offering Memorandum as in effect on September 19, 2005.

          (b) Section 7.1 of the Loan Agreement shall be amended by deleting the word “and” at the end
of clause (j) thereof, amending clause (k) thereof so that it is now a reference to clause (l)
thereof, and adding new clause (k) thereto, as follows:

          (j) Indebtedness consisting of the Junior Notes; and

          (c) Section 7.7(b) of the Loan Agreement shall be amended by replacing the reference to “or
the Preferred Stock” with “, the Junior Notes or the Preferred Stock”

          (d) Section 7.10 of the Loan Agreement shall be amended and restated in its entirety as
follows:

          7.10 Distributions

          Other than distributions or declaration and payment of dividends by UK Company, German
Company, Japan Company, Australia Companies or a Company to any Company (other than Parent), make
any distribution or declare or pay any dividends (in cash or other property, other than common
Stock) on, or purchase, acquire, redeem, or retire any of UK Company’s, German Company’s, Japan
Company’s, Australia Companies or any Company’s Stock, of any class, whether now or hereafter
outstanding; provided that UK Company, German Company, Japan Company, Australia Companies or any
Company may make any distributions or declaration and payment of dividends to Parent to allow
Parent to (a) immediately pay dividends on its Initial Preferred Stock at the stated rate
applicable thereto in an amount not to exceed $525,000 per calendar quarter and on its Additional
Preferred Stock at the stated rate applicable thereto in an amount not to exceed $190,000 in any
calendar quarter, in each case so long as after giving effect thereto no Event of Default exists,
(b) immediately redeem the Preferred Stock on a Redemption Date on or after March 15, 2006 pursuant
to the terms thereof so long as prior to any such redemption, Parent exercises its option to
convert the maximum amount of such Preferred Stock to common Stock (except that Parent shall not be
obligated to

 

 

exercise such right of conversion and may use such amount of cash as Parent elects in
connection with such redemption so long as after giving effect to such redemption the sum of
Qualified Cash plus Excess Availability exceeds $25,000,000), (c) immediately make regularly
scheduled payments of interest on the Junior Notes, in each case so long as no Event of Default
exists, (d) immediately pay when due taxes owing by Parent to any Governmental Authority and (e)
maintain cash not to exceed $7,500,000 at any time for the purpose of paying ordinary course
expenses (which expenses shall not include the obligations set forth in clauses (a), (b) and (c) of
this proviso).

          (e) A new Section 8.15 is hereby added to the Loan Agreement to read as follows:

          8.15 Delisting. If the common Stock of the Parent or any Stock into which the Junior Notes
are convertible is neither listed for trading on a U.S. national securities exchange nor quoted on
the Nasdaq National Market.

          4. Ratification. This Amendment, subject to satisfaction of the conditions provided
below, shall constitute an amendment to the Loan Agreement and all of the Loan Documents as
appropriate to express the agreements contained herein. In all other respects, the Loan Agreement
and the Loan Documents shall remain unchanged and in full force and effect in accordance with their
original terms.

          5. Conditions to Effectiveness. This Amendment shall become effective as of the date
hereof and upon the satisfaction of the following conditions precedent:

          (a) Each party hereto shall have executed and delivered this Amendment to Agent;

          (b) Companies shall have delivered to Agent such documents, agreements and instruments as may
be requested or required by Agent in connection with this Amendment, each in form and content
acceptable to Agent, including, without limitation, a certified copy of each of the Offering
Memorandum and Indenture;

          (c) No Default or Event of Default shall have occurred and be continuing on the date hereof or
as of the date of the effectiveness of this Amendment; and

          (d) All proceedings taken in connection with the transactions contemplated by this Amendment
and all documents, instruments and other legal matters incident thereto shall be satisfactory to
Agent and its legal counsel.

 

 

          6. Additional Affirmative Covenant. On or before October 31, 2005 Parent shall
transfer all funds except for $7,500,000 in the Investment Account to a Securities Account at Wells
Fargo Brokerage Services held by Midway.

          7. Miscellaneous.

          (a) Warranties and Absence of Defaults. In order to induce Agent to enter into this
Amendment, each Company hereby warrants to Agent, as of the date hereof, that the representations
and warranties of Companies contained in the Loan Agreement are true and correct as of the date
hereof as if made on the date hereof (other than those which, by their terms, specifically are made
as of certain dates prior to the date hereof).

          (b) Expenses. Companies, jointly and severally, agree to pay on demand all costs and
expenses of Agent (including the reasonable fees and expenses of outside counsel for Agent) in
connection with the preparation, negotiation, execution, delivery and administration of this
Amendment and all other instruments or documents provided for herein or delivered or to be
delivered hereunder or in connection herewith. All obligations provided herein shall survive any
termination of this Amendment and the Loan Agreement as amended hereby.

          (c) Governing Law. This Amendment shall be a contract made under and governed by the
internal laws of the State of Illinois.

          (d) Counterparts. This Amendment may be executed in any number of counterparts, and
by the parties hereto on the same or separate counterparts, and each such counterpart, when
executed and delivered, shall be deemed to be an original, but all such counterparts shall together
constitute but one and the same Amendment.

          8. Release.

          (a) In consideration of the agreements of Agent and Lenders contained herein and for other
good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, each
Company, on behalf of itself and its successors, assigns, and other legal representatives, hereby
absolutely, unconditionally and irrevocably releases, remises and forever discharges Agent and
Lenders, and their successors and assigns, and their present and former shareholders, affiliates,
subsidiaries, divisions, predecessors, directors, officers, attorneys, employees, agents and other
representatives (Agent, each Lender and all such other Persons being hereinafter referred to
collectively as the “Releasees” and individually as a “Releasee”), of and from all demands,
actions, causes of action, suits, covenants, contracts, controversies, agreements, promises, sums
of money, accounts, bills, reckonings, damages and any and all other claims, counterclaims,
defenses, rights of set-off, demands and liabilities whatsoever (individually, a “Claim” and
collectively, “Claims”) of every name and nature, known or unknown, suspected or unsuspected, both
at law and in equity, which such Company or any of its successors, assigns, or other legal
representatives may now or hereafter own, hold, have or claim to have against the Releasees or any
of them for, upon, or by reason of any circumstance, action, cause or thing whatsoever which arises
at any time on or prior to the day and date of this

 

 

Amendment, including, without limitation, for or on account of, or in relation to, or in any
way in connection with any of the Loan Agreement, or any of the other Loan Documents or
transactions thereunder or related thereto.

          (b) Each Company understands, acknowledges and agrees that the release set forth above may be
pleaded as a full and complete defense and may be used as a basis for an injunction against any
action, suit or other proceeding which may be instituted, prosecuted or attempted in breach of the
provisions of such release.

          (c) Each Company agrees that no fact, event, circumstance, evidence or transaction which could
now be asserted or which may hereafter be discovered shall affect in any manner the final, absolute
and unconditional nature of the release set forth above.

 

 

     IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be executed by their
respective officers thereunto duly authorized and delivered as of the date first above written.

	 	 	 	 	 
	 	 	MIDWAY HOME ENTERTAINMENT INC.,
	 	 	a Delaware corporation
	 
	 	 	 	 
	 	 	MIDWAY AMUSEMENT GAMES, LLC,
	 	 	a Delaware limited liability company
	 
	 	 	 	 
	 	 	MIDWAY GAMES INC.,
	 	 	a Delaware corporation
	 
	 	 	 	 
	 	 	MIDWAY GAMES WEST INC.,
	 	 	a California corporation
	 
	 	 	 	 
	 	 	MIDWAY INTERACTIVE INC.,
	 	 	a Delaware corporation
	 
	 	 	 	 
	 	 	MIDWAY SALES COMPANY, LLC,
	 	 	a Delaware limited liability company
	 
	 	 	 	 
	 	 	MIDWAY HOME STUDIOS INC.,
	 	 	a Delaware corporation
	 
	 	 	 	 
	 	 	SURREAL SOFTWARE INC.,
	 	 	a Washington corporation
	 
	 	 	 	 
	 	 	MIDWAY STUDIOS — AUSTIN INC.,
	 	 	a Texas corporation
	 
	 	 	 	 
	 	 	MIDWAY STUDIOS — LOS ANGELES INC.,
	 	 	a California corporation
	 
	 	 	 	 
	 

	 	Each By	 	/s/ Thomas E. Powell
	 

	 	 	 	 
	 

	 	Title	 	EVP - Finance CFO & Treasurer
	 

	 	 	 	 

Signature page to Consent and Thirteenth Amendment to Loan and Security Agreement

 

 

	 	 	 	 	 
	 	 	WELLS FARGO FOOTHILL, INC.,
	 	 	a California corporation, as Agent, as UK Security
	 	 	Trustee and as a Lender
	 
	 	 	 	 
	 

	 	By	 	/s/ John Leonard
	 

	 	 	 	 
	 

	 	Title	 	Vice President
	 

	 	 	 	 

Signature page to Consent and Thirteenth Amendment to Loan and Security Agreement

 

 

Exhibit A

Signature page to Consent and Thirteenth Amendment to Loan and Security Agreement

 

 

Exhibit B

Signature page to Consent and Thirteenth Amendment to Loan and Security AgreementEx-10.1

 

Exhibit 10.1

FORM OF

REGISTRATION RIGHTS AGREEMENT

BY AND AMONG

COGDELL SPENCER INC. AND CERTAIN PERSONS

LISTED ON SCHEDULE 1 HERETO

dated as of

, 2005

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 
	 	 	 	 	Page
	SECTION 1.

	 	DEFINITIONS
	 	 	1	 
	 
	 	 	 	 	 	 
	SECTION 2.

	 	SHELF REGISTRATIONS
	 	 	3	 
	 
	 	 	 	 	 	 
	SECTION 3.

	 	BLACK-OUT PERIODS
	 	 	4	 
	 
	 	 	 	 	 	 
	SECTION 4.

	 	REGISTRATION PROCEDURES
	 	 	4	 
	 
	 	 	 	 	 	 
	SECTION 5.

	 	INDEMNIFICATION
	 	 	7	 
	 
	 	 	 	 	 	 
	SECTION 6.

	 	MARKET STAND-OFF AGREEMENT.
	 	 	9	 
	 
	 	 	 	 	 	 
	SECTION 7.

	 	COVENANTS RELATING TO RULE 144
	 	 	9	 
	 
	 	 	 	 	 	 
	SECTION 8.

	 	MISCELLANEOUS
	 	 	9	 

-i-

 

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT (this “Agreement”), dated as of ___, 2005, is
made and entered into by and among Cogdell Spencer Inc., a Maryland corporation (the
“Company”), and certain persons listed on Schedule 1 hereto (such persons, in their
capacity as holders of Registrable Securities, the “Holders” and each the
“Holder”). Capitalized terms not otherwise defined herein shall have the meanings ascribed
to them in Section 1 hereto.

WITNESSETH:

     WHEREAS, the Company and existing holders of membership interests or partnership interests
(the “Interests”) in 31 limited liability companies or limited partnerships (the
“Existing Entities”) and stockholders in Cogdell Spencer Advisors Inc., a North Carolina
corporation, listed under paragraph (a) of Schedule 1 hereto (the “Investors”) in
connection with the initial public offering of the Company have entered into Irrevocable Exchange
and Subscription Agreements, dated as of ___, 2005, pursuant to which such Investors
subscribed for (i) shares of common stock, par value $.01 per share, of the Company (such
subscribed shares in the aggregate, the “Common Stock”), and pursuant to which the Company
agreed that it shall issue to the Investors the Common Stock; and

     WHEREAS, Cogdell Spencer L.P., a Delaware limited partnership, and certain persons listed
under paragraph (b) of Schedule 1 hereto in connection with the initial public offering of
the Company have entered into certain Irrevocable Exchange and Subscription Agreements, pursuant to
which such persons exchanged their Interests in exchange for (i) units representing limited
partnership interests (the “OP Units”) of Cogdell Spencer OP, exchangeable, under certain
circumstances, into the Common Stock on a one-for-one basis; and

     WHEREAS, the Company desires to enter into this Agreement with the Holders in order to grant
the Holders the registration rights contained herein.

     NOW, THEREFORE, in consideration of the premises and the mutual promises and covenants
contained in this Agreement, and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

     Section 1. Definitions. As used in this Agreement, the following terms shall have the
following meanings:

     “Affiliate” shall mean, when used with reference to a specified Person, (i) any
Person that directly or indirectly through one or more intermediaries, Controls or is Controlled by
or is under common Control with the specified Person; (ii) any Person who, from time to time, is a
member of the Immediate Family of a specified Person; (iii) any Person who, from time to time, is
an officer or director or manager of a specified Person; or (iv) any Person who, directly or
indirectly, is the beneficial owner of 50% or more of any class of equity securities or other
ownership interests of the specified Person, or of which the specified Person is directly or
indirectly the owner of 50% or more of any class of equity securities or other ownership interests.

     “Agreement” shall mean this Registration Rights Agreement as originally executed and
as amended, supplemented or restated from time to time.

     “Board” shall mean the Board of Directors of the Company.

 

 

     “Business Day” shall mean each day other than a Saturday, a Sunday or any other day
on which banking institutions in the State of New York are authorized or obligated by law or
executive order to be closed.

     “Common Stock” shall have the meaning set forth in the Recitals hereof.

     “Commission” shall mean the Securities and Exchange Commission and any successor
thereto.

     “Company” shall have the meaning set forth in the introductory paragraph hereof.

     “Control” (including the terms “Controlling,” “Controlled by” and
“under common Control with”) shall mean the possession, direct or indirect, of the power to
direct or cause the direction of the management and policies of a Person through the ownership of
Voting Power, by contract or otherwise.

     “Exchange Act” shall mean the Securities Exchange Act of 1934, as amended (or any
corresponding provision of succeeding law) and the rules and regulations thereunder.

     “Holder” shall mean each holder of the Common Stock or OP Units, listed in Schedule 1
hereto, in his, her or its capacity as a holder of Registrable Securities. For purposes of this
Agreement, the Company may deem and treat the registered holder of a Registrable Security as the
Holder and absolute owner thereof, unless notified to the contrary in writing by the registered
Holder thereof.

     “Inspectors” shall have the meaning set forth in Section 4(a)(xv) hereof.

     “Investors” shall have the meaning set forth in the Recitals hereof.

     “IPO” means an underwritten initial public offering by the Company of the Common Stock
pursuant to the Form S-11 Registration Statement (No. 333-127396) filed by the Company with the
Commission under the Securities Act.

     “OP Units” shall have the meaning set forth in the Recitals hereof.

     “Person” shall mean any individual, partnership, corporation, limited liability
company, joint venture, association, trust, unincorporated organization or other governmental or
legal entity.

     “Records” shall have the meaning set forth in Section 4(a)(xv) hereof.

     “Registrable Securities” shall mean at any time a class of equity securities of the
Company or of a successor to the entire business of the Company which (i) are (A) the Common Stock
and (B) the Common Stock that may be acquired by the Holders in connection with the exercise by
such Holders of the exchange rights associated with the OP Units and (ii) are of a class of
securities that are listed for trading on a national securities exchange; provided,
however, such Registrable Securities shall cease to be Registrable Securities when (A) a
registration statement with respect to the sale of such Registrable Securities shall have become
effective under the Securities Act and all such Registrable Securities shall have been disposed of
in accordance with such registration statement, (B) such Registrable Securities shall have been
sold under circumstances in which all of the applicable conditions of Rule 144 (or any successor
provision) under the Securities Act are met, (C) such Registrable Securities become eligible to be
publicly sold without limitation as to amount or manner of sale pursuant to Rule 144(k) (or any
successor provision) under the Securities Act, or (D) such Registrable Securities have ceased to be
outstanding.

2

 

     “Registration Expenses” shall mean (i) the fees and disbursements of counsel and
independent public accountants for the Company incurred in connection with the Company’s
performance of or compliance with this Agreement, including the expenses of any special audits or
“comfort” letters required by or incident to such performance and compliance, and any premiums and
other costs of policies of insurance obtained by the Company against liabilities arising out of the
sale of any securities and (ii) all registration, filing and stock exchange fees, all fees and
expenses of complying with securities or “blue sky” laws, all fees and expenses of custodians,
transfer agents and registrars, all printing expenses, messenger and delivery expenses and any fees
and disbursements of one common counsel retained by a majority of the Registrable Securities;
provided, however, “Registration Expenses” shall not include any
out-of-pocket expenses of the Holders, transfer taxes, underwriting or brokerage commissions or
discounts associated with effecting any sales of Registrable Securities that may be offered, which
expenses shall be borne by each Holder of Registrable Securities on a pro rata basis with respect
to the Registrable Securities so sold.

     “Securities Act” shall mean the Securities Act of 1933, as amended (or any successor
corresponding provision of succeeding law), and the rules and regulations thereunder.

     “Shelf Registration Statement” shall have the meaning set forth in Section
2(a) hereof.

     “Stand-Off Period” shall have the meaning set forth in Section 6 hereof.

     “Voting Power” shall mean voting securities or other voting interests ordinarily (and
apart from rights accruing under special circumstances) having the right to vote in the election of
board members or Persons performing substantially equivalent tasks and responsibilities with
respect to a particular entity.

     Section 2. Shelf Registrations.

          a. Shelf Registration. The Company agrees to use commercially reasonable efforts to
file with the Commission no later than 14 months following the completion of the IPO and during a
period of time that the issuer of the Registrable Securities is eligible to use Form S-3 (or any
similar or successor form), a registration statement with respect to the Registrable Securities
under the Securities Act on Form S-3 (or any similar or successor form) for the offering to be made
on a continuous basis pursuant to Rule 415 under the Securities Act (the “Shelf Registration
Statement”), and will use commercially reasonable efforts to cause such Shelf Registration
Statement to be declared effective by the Commission as soon as practicable thereafter. The Shelf
Registration Statement shall be on an appropriate form and the registration statement and any form
of prospectus included therein (or prospectus supplement relating thereto) shall reflect the plan
of distribution or method of sale as the Holders may from time to time notify the Company.

          b. Effectiveness. The Company shall use commercially reasonable efforts to keep the
Shelf Registration Statement continuously effective for the period beginning on the date on which
the Shelf Registration Statement is declared effective and ending on the date that all of the
Registrable Securities registered under the Shelf Registration Statement cease to be Registrable
Securities. During the period that the Shelf Registration Statement is effective, the Company
shall supplement or make amendments to the Shelf Registration Statement, if required by the
Securities Act or if reasonably requested by the Holders (whether or not required by the form on
which the securities are being registered), including to reflect any specific plan of distribution
or method of sale, and shall use its commercially reasonable efforts to have such supplements and
amendments declared effective, if required, as soon as practicable after filing.

3

 

     Section 3. Black-Out Periods.

     Notwithstanding anything herein to the contrary, the Company shall have the right, exercisable
from time to time by delivery of a notice authorized by the Board, on not more than two occasions
in any 12-month period, to require the Holders not to sell pursuant to a registration statement or
similar document under the Securities Act filed pursuant to Section 2 or to suspend the
effectiveness thereof if at the time of the delivery of such notice, the Board has considered a
plan to engage no later than 60 days following the date of such notice in a firm commitment
underwritten public offering or if the Board has reasonably and in good faith determined that such
registration and offering, continued effectiveness or sale would materially interfere with any
material transaction involving the Company; provided, however, that in no event
shall the black-out period extend for more than 90 days on any such occasion. If the consummation
of any business combination by the Company has occurred or is probable for purposes of Rule 3-05 or
Article 11 of Regulation S-X under the Act, the rights of the Holders to offer, sell or distribute
any Registrable Securities pursuant to the Shelf Registration Statement shall be suspended until
the date on which the Company has filed the financial information required by Rule 3-05 or Article
11 of Regulation S-X to be included or incorporated by reference, as applicable, in the Shelf
Registration. The Company, as soon as practicable, shall (i) give the Holders prompt written
notice in the event that the Company has suspended sales of Registrable Securities pursuant to this
Section 3, (ii) give the Holders prompt written notice of the completion of such offering
or material transaction or filing of the required financial information with the Commission, as
the case may be, and (iii) promptly file any amendment necessary for any registration statement or
prospectus of the Holders in connection with the completion of such event.

     If the Company determines in its good faith judgment that the filing of the Shelf Registration
Statement or the use of any related prospectus would require the disclosure of material information
that the Company has a bona fide business purpose for preserving as confidential or the disclosure
of which would impede the Company’s ability to consummate a significant transaction, and that the
Company is not otherwise required by applicable securities laws or regulations to disclose, upon
written notice of such determination by the Company, the rights of the Holders to offer, sell or
distribute any Registrable Securities pursuant to the Shelf Registration Statement or to require
the Company to take action with respect to the registration or sale of any Registrable Securities
pursuant the Shelf Registration Statement shall be suspended until the earlier of (i) the date upon
which the Company notifies the Holders in writing that suspension of such rights for the grounds
set forth in this Section 3 is no longer necessary and (ii) 40 days. The Company agrees to give
such notice as promptly as practicable following the date that such suspension of rights is no
longer necessary. The Company may not utilize this suspension right more than three times in any
twelve (12) month period.

     Each Holder agrees by acquisition of the Registrable Securities that upon receipt of any
notice from the Company of the happening of any event of the kind described in this Section 3, such
Holder will forthwith discontinue its disposition of Registrable Securities pursuant to the Shelf
Registration Statement relating to such Registrable Securities until such Holder’s receipt of the
notice of completion of such event.

     Section 4. Registration Procedures.

          a. In connection with the filing of any registration statement as provided in this Agreement,
the Company shall use commercially reasonable efforts to, as expeditiously as reasonably
practicable:

               (i) prepare and file with the Commission the requisite registration statement
(including a prospectus therein and any supplement thereto) to effect such registration and
use its

4

 

commercially reasonable efforts to cause such registration statement to become and
remain effective for the period set forth in Section 2(b); provided,
however, that before filing such registration statement or any amendments or
supplements thereto, the Company will furnish copies of all such documents proposed to be
filed to counsel for the sellers of Registrable Securities covered by such registration
statement and provide reasonable time for such sellers and their counsel to comment upon
such documents if so requested by a Holder;

               (ii) prepare and file with the Commission such amendments and supplements to such
registration statement and the prospectus used in connection therewith as may be necessary
to maintain the effectiveness of such registration and to comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by such
registration statement during the period in which such registration statement is required to
be kept effective;

               (iii) furnish to each Holder of the securities being registered, without charge, such
number of conformed copies of such registration statement and of each such amendment and
supplement thereto (in each case including all exhibits) other than those which are being
incorporated into such registration statement by reference, such number of copies of the
prospectus contained in such registration statements (including each complete prospectus and
any summary prospectus) and any other prospectus filed under Rule 424 under the Securities
Act in conformity with the requirements of the Securities Act, and such other documents,
including documents incorporated by reference, as the Holders may reasonably request;

               (iv) register or qualify all Registrable Securities under such other securities or
“blue sky” laws of such jurisdictions as the Holders and the underwriters of the securities
being registered, if any, shall reasonably request, to keep such registration or
qualification in effect for so long as such registration statement remains in effect, and
take any other action which may be reasonably necessary or advisable to enable the Holders
to consummate the disposition in such jurisdiction of the securities owned by the Holders,
except that the Company shall not for any such purpose be required to qualify generally to
do business as a foreign company or to register as a broker or dealer in any jurisdiction
where it would not otherwise be required to qualify but for this Section 4(a)(iv), or to
consent to general service of process in any such jurisdiction, or to be subject to any
material tax obligation in any such jurisdiction where it is not then so subject;

               (v) immediately notify the Holders at any time when the Company becomes aware that 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 any material fact required to be stated therein or necessary to make the statements
therein not misleading in light of the circumstances under which they were made, and, at the
request of the Holders, promptly prepare and furnish to the Holders a reasonable number of
copies of a supplement to or an amendment of such prospectus as may be necessary so that, as
thereafter delivered to the purchasers of such securities, such prospectus shall not include
an untrue statement of a material fact or omit 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 under which they were made;

               (vi) comply or continue to comply in all material respects with the Securities Act and
the Exchange Act and with all applicable rules and regulations of the Commission thereunder
so as to enable any Holder to sell its Registrable Securities pursuant to Rule 144
promulgated under the Securities Act, as further agreed to in Section 6 hereof;

5

 

               (vii) make available to its security holders, as soon as reasonably practicable, an
earnings statement covering the period of at least 12 months, but not more than 18 months,
beginning with the first calendar month after the effective date of such registration
statement, which earnings statement shall satisfy the provisions of Section 11(a) of the
Securities Act;

               (viii) provide a transfer agent and registrar for all Registrable Securities covered by
such registration statement not later than the effective date of such registration
statement;

               (ix) cooperate with the Holders to facilitate the timely preparation and delivery of
certificates representing Registrable Securities to be sold and not bearing any Securities
Act legend; and enable certificates for such Registrable Securities to be issued for such
number of shares and registered in such names as the Holders may reasonably request in
writing at least two Business Days prior to any sale of Registrable Securities;

               (x) list all Registrable Securities covered by such registration statement on any
securities exchange or national quotation system on which any such class of securities is
then listed or quoted and cause to be satisfied all requirements and conditions of such
securities exchange or national quotation system to the listing or quoting of such
securities that are reasonably within the control of the Company including, without
limitation, registering the applicable class of Registrable Securities under the Exchange
Act, if appropriate, and using commercially reasonable efforts to cause such registration
to become effective pursuant to the rules of the Commission;

               (xi) in connection with any sale, transfer or other disposition by any Holder of any
Registrable Securities pursuant to Rule 144 promulgated under the Securities Act, cooperate
with such Holder to facilitate the timely preparation and delivery of certificates
representing the Registrable Securities to be sold and not bearing any Securities Act
legend, and enable certificates for such Registrable Securities to be for such number of
            shares and registered in such name as the Holders may reasonably request in writing at least
three Business Days prior to any sale of Registrable Securities;

               (xii) notify each Holder, promptly after it shall receive notice thereof, of the time
when such registration statement, or any post-effective amendments to the registration
statement, shall have become effective, or a supplement to any prospectus forming part of
such registration statement has been filed or when any document is filed with the Commission
which would be incorporated by reference into the prospectus;

               (xiii) notify each Holder of any request by the Commission for the amendment or
supplement of such registration statement or prospectus for additional information;

               (xiv) advise each Holder, promptly after it shall receive notice or obtain knowledge
thereof, of (A) the issuance of any stop order, injunction or other order or requirement by
the Commission suspending the effectiveness of such registration statement or the initiation
or threatening of any proceeding for such purpose and use all commercially reasonable
efforts to prevent the issuance of any stop order, injunction or other order or requirement
or to obtain its withdrawal if such stop order, injunction or other order or requirement
should be issued, (B) the suspension of the registration of the subject shares of the
Registrable Securities in any state jurisdiction and (C) the removal of any such stop order,
injunction or other order or requirement or proceeding or the lifting of any such
suspension;

6

 

               (xv) make available for inspection by any Holder of such Registrable Securities, if
such Holder has a due diligence defense under the Securities Act, any underwriter
participating in any disposition pursuant to such registration statement and any attorney,
accountant or other professional retained by any such Holder or underwriter (collectively,
the “Inspectors”), all financial and other records, pertinent corporate documents and
properties of the Company (collectively, the “Records”) as shall be reasonably necessary to
enable them to exercise their due diligence responsibility, and cause the Company’s
officers, directors and employees to supply all information reasonably requested by any
Inspectors in connection with such registration statement. Records which the Company
determines, in good faith, to be confidential and which it notifies the Inspectors are
confidential shall not be disclosed by the Inspectors unless (i) the disclosure of such
Records is necessary to avoid or correct a misstatement or omission in such registration
statement or (ii) the release of such Records is ordered pursuant to a subpoena or other
order from a court of competent jurisdiction. Each Holder of such Registrable Securities
agrees that information obtained by it as a result of such inspections shall be deemed
confidential and shall not be used by it as the basis for any market transactions in the
securities of the company or its Affiliates unless and until such is made generally
available to the public. Each Holder of such Registrable Securities further agrees that it
will, upon learning that disclosure of such Records is sought in a court of competent
jurisdiction, give notice to the Company and allow the Company, at its expense, to undertake
appropriate action to prevent disclosure of the Records deemed confidential; and

               (xvi) furnish to each Holder, if it has a due diligence defense under the Securities
Act, and to each underwriter, if any, a signed counterpart, addressed to such Holder or
underwriter, of (i) an opinion or opinions of counsel to the Company and (ii) if eligible
under SAS 72, a comfort letter or comfort letters from the Company’s independent public
accountants, each in customary form and covering such matters of the type customarily
covered by opinions or comfort letters, as the case may be, as the Holders of a majority of
the Registrable Securities included in such offering or the managing underwriter or
underwriters therefor reasonably requests.

          b. In connection with the filing of any registration statement covering Registrable
Securities, each Holder shall furnish in writing to the Company such information regarding such
Holder (and any of its Affiliates), the Registrable Securities to be sold, the intended method of
distribution of such Registrable Securities and such other information requested by the Company as
is necessary or it deems advisable for inclusion in the registration statement relating to such
offering pursuant to the Securities Act. Such writing shall expressly state that it is being
furnished to the Company for use in the preparation of a registration statement, preliminary
prospectus, supplementary prospectus, final prospectus or amendment or supplement thereto, as the
case may be.

     Each Holder agrees by acquisition of the Registrable Securities that (i) upon receipt of any
notice from the Company of the happening of any event of the kind described in Section
4(a)(v), such Holder will forthwith discontinue its disposition of Registrable Securities
pursuant to the registration statement relating to such Registrable Securities until such Holder’s
receipt of the copies of the supplemented or amended prospectus contemplated by Section
4(a)(v); (ii) upon receipt of any notice from the Company of the happening of any event of the
kind described in clause (A) of Section 4(a)(xiv), such Holder will discontinue its
disposition of Registrable Securities pursuant to such registration statement until such Holder’s
receipt of the notice described in clause (C) of Section 4(a)(xiv); and (iii) upon receipt
of any notice from the Company of the happening of any event of the kind described in clause (B) of
Section 4(a)(xiv), such Holder will discontinue its disposition of Registrable Securities pursuant
to such registration statement in the applicable state jurisdiction(s) until such Holder’s receipt
of the notice described in clause (C) of Section 4(a)(xiv).

7

 

     Section 5. Indemnification.

          a. Indemnification by the Company. The Company agrees to indemnify and hold harmless
each Holder, its partners, officers, directors, trustees, stockholders, employees, agents and
investment advisers, and each Person, if any, who Controls such Holder, together with the partners,
officers, directors, trustees, stockholders, employees, agents and investment advisers of such
Controlling Person, against any losses, claims, damages, and expenses (including, without
limitation, reasonable attorneys’ fees), joint or several, to which the Holders or any such
indemnitees may become subject under the Securities Act or otherwise, insofar as such losses,
claims, damages, liabilities and expenses (or actions or proceedings, whether commenced or
threatened, in respect thereof) arise out of or are based upon any untrue statement or alleged
untrue statement of any material fact contained in the registration statement under which such
Registrable Securities were registered and sold under the Securities Act, any preliminary
prospectus, final prospectus or summary prospectus contained therein, or any amendment or
supplement thereto, or arising out of or based upon any omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein,
in light of the circumstances under which they were made, not misleading or any violation of the
Securities Act or state securities laws or rules thereunder by the Company relating to any action
or inaction by the Company in connection with such registration, and the Company will reimburse
each Holder for any reasonable legal or any other expenses reasonably incurred by it in connection
with investigating or defending any such loss, claim, liability, action or proceedings;
provided, however, that the Company shall not be liable in any such case to the
extent that any such loss, claim, damage, liability (or action or proceeding in respect thereof) or
expense arises out of or is based upon an untrue statement or alleged statement or omission or
alleged omission made in such registration statement, any such preliminary prospectus, final
prospectus, summary prospectus, amendment or supplement in reliance upon and in conformity with
written information furnished to the Company by any Holder specifically stating that it is for use
in the preparation thereof; and provided, further, that the Company shall not be
liable to the Holders or any other Person who Controls such Holder in any such case to the extent
that any such loss, claim, damage, liability (or action or proceeding in respect thereof) or
expense arises out of such Person’s failure to send or give a copy of the final prospectus or
supplement to the Persons asserting an untrue statement or alleged untrue statement or omission or
alleged omission at or prior to the written confirmation of the sale of Registrable Securities to
such Person if such statement or omission was corrected in such final prospectus or supplement.
Such indemnity shall remain in full force and effect regardless of any investigation made by or on
behalf of the Holders or any such Controlling Person and shall survive the transfer of such
securities by the Holders.

          b. Indemnification by the Holders. Each Holder agrees to indemnify and hold harmless
(in the same manner and to the same extent as set forth in Section 5(a)) the Company, each
member of the Board, each officer, employee, agent and investment adviser of the Company and each
other Person, if any, who Controls any of the foregoing, with respect to any untrue statement or
alleged untrue statement of a material fact in or omission or alleged omission to state a material
fact from such registration statement, any preliminary prospectus, final prospectus or summary
prospectus contained therein, or any amendment or supplement thereto, if such untrue statement or
alleged untrue statement or omission or alleged omission was made in reliance upon and in
conformity with written information furnished to the Company by such Holder regarding such Holder
giving such indemnification specifically stating that it is for use in the preparation of such
registration statement, preliminary prospectus, final prospectus, summary prospectus, amendment or
supplement. Such indemnity shall remain in full force and effect regardless of any investigation
made by or on behalf of the Company or any such Board member, officer, employee, agent, investment
adviser or Controlling Person and shall survive the transfer of such securities by any Holder. The
obligation of a Holder to indemnify will be several and not joint, among the Holders of Registrable
Securities and the liability of each such Holder of Registrable Securities will be in

8

 

proportion to and limited in all events to the net amount received by such Holder from the
sale of Registrable Securities pursuant to such registration statement.

          c. Notices of Claims, etc. Promptly after receipt by an indemnified party of notice
of the commencement of any action or proceeding involving a claim referred to in the preceding
paragraphs of this Section 5, such indemnified party will, if a claim in respect thereof is
to be made against an indemnifying party, give written notice to the latter of the commencement of
such action; provided, however, that the failure of any indemnified party to give
notice as provided herein shall not relieve the indemnifying party of its obligations under the
preceding paragraphs of this Section 5, except to the extent that the indemnifying party is
actually prejudiced by such failure to give notice. In case any such action is brought against an
indemnified party, unless in such indemnified party’s reasonable judgment a conflict of interest
between such indemnified and indemnifying parties may exist in respect of such claim, the
indemnifying party shall be entitled to assume the defense thereof, for itself, if applicable,
together with any other indemnified party similarly notified, and after notice from the
indemnifying party to such indemnified party of its election so to assume the defense thereof, the
indemnifying party shall not be liable to the indemnified party for any legal or other expenses
subsequently incurred by the latter in connection with the defense thereof.

          d. Indemnification Payments. To the extent that the indemnifying party does not
assume the defense of an action brought against the indemnified party as provided in Section
5(c), the indemnified party (or parties if there is more than one) shall be entitled to the
reasonable legal expenses of common counsel for the indemnified party (or parties). In such event,
however, the indemnifying party will not be liable for any settlement effected without the written
consent of such indemnifying party, which consent shall not be unreasonably withheld. The
indemnification required by this Section 5 shall be made by periodic payments of the amount
thereof during the course of an investigation or defense, as and when bills are received or
expense, loss, damage or liability is incurred. The indemnifying party shall not settle any claim
without the consent of the indemnified party unless such settlement involves a complete release of
such indemnified party without any admission of liability by the indemnified party.

          e. Contribution. If, for any reason, the foregoing indemnity is unavailable, or is
insufficient to hold harmless an indemnified party, then the indemnifying party shall contribute to
the amount paid or payable by the indemnified party as a result of the expense, loss, damage or
liability, (i) in such proportion as is appropriate to reflect the relative fault of the
indemnifying party on the one hand and the indemnified party on the other (determined by reference
to, among other things, whether the untrue or alleged untrue statement of a material fact or
omission relates to information supplied by the indemnifying party or the indemnified party and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such untrue statement or omission) or (ii) if the allocation provided by subclause (i) above is not
permitted by applicable law or provides a lesser sum to the indemnified party than the amount
hereinafter calculated, in the proportion as is appropriate to reflect not only the relative fault
of the indemnifying party and the indemnified party, but also the relative benefits received by the
indemnifying party on the one hand and the indemnified party on the other, as well as any other
relevant equitable considerations. No indemnified party guilty of fraudulent misrepresentation
(within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from
any indemnifying party who was not guilty of such fraudulent misrepresentation, and the liability
for contribution of each Holder of Registrable Securities will be in proportion to and limited in
all events to the net amount received by such Holder from the sale of Registrable Securities
pursuant to such registration statement.

     Section 6. 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, directly or
indirectly sell, offer, pledge, contract to sell, sell any option or contract to purchase, purchase
any option or contract

9

 

to sell (including without limitation any short sale), grant any option, right or
warrant for the sale of or otherwise transfer or dispose of any Registrable Securities (other than
to donees or partners of the Holder who agree to be similarly bound) within seven days prior to and
for up to 90 days following the effective date of a registration statement of the Company filed
under the Securities Act or the date of an underwriting agreement with respect to an underwritten
public offering of the Company’s securities (the
“Stand-Off Period”); provided,
however,
that:

          a. with respect to the Stand-Off Period, such agreement shall not be applicable to the
Registrable Securities to be sold on the Holder’s behalf to the public in an underwritten offering
pursuant to such registration statement;

          b. all executive officers and directors of the Company then holding Common Stock of the
Company shall enter into similar agreements for not less than the entire time period required of
the Holders hereunder;

          c. the Company shall use commercially reasonable efforts to obtain similar agreements from
each 5% or greater shareholder of the Company for not less than the entire time period required of
the Holders hereunder; and

          d. the Holders shall be allowed any concession or proportionate release allowed to any (i)
officer, (ii) director or (iii) other 5% or greater shareholder of the Company that entered into
similar agreements.

     In order to enforce the foregoing covenant, the Company shall have the right to place
restrictive legends on the certificates representing the Registrable Securities subject to this
Section 6 and to impose stop transfer instructions with respect to the Registrable Securities and
such other Common Stock of each Holder (and the Common Stock or securities of every other person
subject to the foregoing restriction) until the end of such period.

     Section 7. Covenants Relating To Rule 144. At such times as the Company becomes
obligated to file reports in compliance with either Section 13 or 15(d) of the Exchange Act, the
Company covenants that it will file any reports required to be filed by it under the Securities Act
and the Exchange Act and that it will take such further action as any Holder may reasonably
request, all to the extent required from time to time to enable Holders to sell Registrable
Securities without registration under the Securities Act within the limitation of the exemptions
provided by (a) Rule 144 under the Securities Act, as such rule may be amended from time to time or
(b) any similar rule or regulation hereafter adopted by the Commission. Upon the request of any
Holder, the Company will deliver to such Holder a written statement as to whether it has complied
with such requirements.

     Section 8. Miscellaneous.

          a. Termination; Survival. The rights of each Holder under this Agreement shall
terminate upon the date that all of the Registrable Securities held by such Holder may be sold
during any three-month period in a single transaction or series of transactions without volume
limitations under Rule 144 (or any successor provision) under the Securities Act. Notwithstanding
the foregoing, the obligations of the parties under Section 5 and paragraphs (d), (e) and (g) of
this Section 8 shall survive the termination of this Agreement.

          b. Expenses. All Registration Expenses incurred in connection with any Shelf
Registration under Section 2 shall be borne by the Company, whether or not any registration
statement related thereto becomes effective.

10

 

          c. Counterparts. This Agreement may be executed in one or more counterparts, all of
which shall be considered one and the same agreement, and shall become effective when one or more
such counterparts have been signed by each of the parties and delivered to each of the other
parties.

          d. Applicable Law; Jurisdiction. This Agreement shall be governed by and construed in
accordance with the laws of the State of New York without regard to the choice of law provisions
thereof. The parties consent to the exclusive jurisdiction of the United States District Court for
the Southern District of New York in connection with any civil action concerning any controversy,
dispute or claim arising out of or relating to this Agreement, or any other agreement contemplated
by, or otherwise with respect to, this Agreement or the breach hereof, unless such court would not
have subject matter jurisdiction thereof, in which event the parties consent to the jurisdiction of
the State of New York. The parties hereby waive and agree not to assert in any litigation
concerning this Agreement the doctrine of forum non conveniens.

          e. Waiver Of Jury Trial. THE PARTIES HERETO HEREBY IRREVOCABLY AND UNCONDITIONALLY
WAIVE TRIAL BY JURY IN ANY LEGAL ACTION OR PROCEEDING RELATING TO THIS AGREEMENT AND FOR ANY
COUNTERCLAIM THEREIN.

          f. Prior Agreement; Construction; Entire Agreement. This Agreement, including the
exhibits and other documents referred to herein (which form a part hereof), constitutes the entire
agreement of the parties with respect to the subject matter hereof, and supersedes all prior
agreements and understandings between the parties, and all such prior agreements and understandings
are merged herein and shall not survive the execution and delivery hereof.

          g. Notices. All notices or other communications required or permitted to be given
hereunder shall be in writing and shall be delivered by hand or sent, postage prepaid, by
registered, certified or express mail or reputable overnight courier service or be telecopier and
shall be deemed given when so delivered by hand or, if mailed, three days after mailing (one
Business Day in the case of express mail or overnight courier service), addressed as follows:

	 	 	 
	If to the Holder:

	 	To the address indicated for such
Holder in Schedule 1
	 

	 	hereto.
	 
	 	 
	If to the Company:

	 	Cogdell Spencer Inc.
	 

	 	4401 Barclay Downs Drive
	 

	 	Suite 300
	 

	 	Charlotte, North Carolina 28209-4670
	 

	 	Attention: Frank Spencer
	 

	 	Tel: (704) 940-2900
	 

	 	Fax: (704) 940-2959
	 
	 	 
	 

	 	with a copy to:
	 
	 	 
	 

	 	Clifford Chance US LLP
	 

	 	31 West 52nd Street
	 

	 	New York, New York 10019
	 

	 	Attention: Jay L. Bernstein
	 

	 	Facsimile: 212-878-8375

11

 

          h. Successors and Assigns. This Agreement shall inure to the benefit of and be
binding upon the successors and permitted assigns of each of the parties and shall inure to the
benefit of each Holder. The Company may assign its rights or obligations hereunder to any
successor to the Company’s business or with the prior written consent of Holders of a majority of
the then outstanding Registrable Securities. Notwithstanding the foregoing, no assignee of the
Company shall have any of the rights granted under this Agreement until such assignee shall
acknowledge its rights and obligations hereunder by a signed written agreement pursuant to which
such assignee accepts such rights and obligations.

          i. Headings. Headings are included solely for convenience of reference and if there
is any conflict between headings and the text of this Agreement, the text shall control.

          j. Amendments And Waivers. The provisions of this Agreement may be amended or waived
at any time only by the written agreement of the Company and the Holders of a majority of the
Registrable Securities; provided, however, that the provisions of this Agreement
may not be amended or waived without the consent of the Holders of all the Registrable Securities
adversely affected by such amendment or waiver if such amendment or waiver adversely affects a
portion of the Registrable Securities but does not so adversely affect all of the Registrable
Securities; provided, further, that the provisions of the preceding provision may
not be amended or waived except in accordance with this sentence. Any waiver, permit, consent or
approval of any kind or character on the part of any such Holders of any provision or condition of
this Agreement must be made in writing and shall be effective only to the extent specifically set
forth in writing. Any amendment or waiver effected in accordance with this paragraph shall be
binding upon each Holder of Registrable Securities and the Company.

          k. Interpretation; Absence Of Presumption. For the purposes hereof, (i) words in the
singular shall be held to include the plural and vice versa and words of one gender shall be held
to include the other gender as the context requires, (ii) the terms “hereof,” “herein,” and
“herewith” and words of similar import shall, unless otherwise stated, be construed to refer to
this Agreement as a whole and not to any particular provision of this Agreement, and Section,
paragraph or other references are to the Sections, paragraphs, or other references to this
Agreement unless otherwise specified, (iii) the word “including” and words of similar import when
used in this Agreement shall mean “including, without limitation,” unless the context otherwise
requires or unless otherwise specified, (iv) the word “or” shall not be exclusive and (v)
provisions shall apply, when appropriate, to successive events and transactions.

          This Agreement shall be construed without regard to any presumption or rule requiring
construction or interpretation against the party drafting or causing any instruments to be drafted.

          l. Severability. If any provision of this Agreement shall be or shall be held or
deemed by a final order by a competent authority to be invalid, inoperative or unenforceable, such
circumstance shall not have the effect of rendering any other provision or provisions herein
contained invalid, inoperative or unenforceable, but this Agreement shall be construed as if such
invalid, inoperative or unenforceable provision had never been contained herein so as to give full
force and effect to the remaining such terms and provisions.

          m. Specific Performance; Other Rights. The parties recognize that various other
rights rendered under this Agreement are unique and, accordingly, the parties shall, in addition to
such other remedies as may be available to them at law or in equity, have the right to enforce the
rights under this Agreement by actions for injunctive relief and specific performance.

          n. Further Assurances. In connection with this Agreement, as well as all transactions
and covenants contemplated by this Agreement, each party hereto agrees to execute and deliver or
cause to be executed and delivered such additional documents and instruments and to perform or
cause to be

12

 

performed such additional acts as may be necessary or appropriate to effectuate, carry out and
perform all of the terms, provisions and conditions of this Agreement and all such transactions and
covenants contemplated by this Agreement.

          o. No Waiver. The waiver of any breach of any term or condition of this Agreement
shall not operate as a waiver of any other breach of such term or condition or of any other term or
condition, nor shall any failure to enforce any provision hereof operate as a waiver of such
provision or of any other provision hereof.

[SIGNATURE PAGE FOLLOWS]

13

 

          IN WITNESS WHEREOF, the parties have caused this Agreement to be duly executed as of the date
first written above.

	 	 	 	 	 	 	 
	 	 	COGDELL SPENCER INC.,	 	 
	 	 	a Maryland corporation	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 	 	 
	 

	 	Title:	 	 	 	 
	 
	 	 	 	 	 	 
	 	 	HOLDERS:	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 
	 	 	*Frank Spencer, for himself and as attorney-in-
fact for the individuals listed on Schedule A
hereto.	 	 
	 
	 	 	 	 	 	 
	 	 	 	 	 

14

 

Schedule A

[List of all Holders – Power of Attorney Granted

with Irrevocable Exchange and Subscription Agreement]

15

 

Schedule 1

THE HOLDERS

(a) List of holders of Common Stock:

	 	 	 	 	 	 	 	 	 
	 	 	Number of	 	 
	Name of the Holder	 	Common Stock Held	 	Address of the Holder
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 

	(b)	 	List of holders of the OP Units (exchangeable into the Common Stock on a one for one
basis):

	 	 	 	 	 	 	 	 	 
	 	 	Number of	 	 
	Name of the Holder	 	OP Units Held	 	Address of the Holder
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 

16

 

	 	 	 	 	 	 	 	 	 
	 	 	Number of	 	 
	Name of the Holder	 	OP Units Held	 	Address of the Holder
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 
	 
	 	 	 	 	 	 	 	 
	 

17

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