Document:

Amended and Restated Registration Rights Agreement

 Exhibit 4.4 
 HOMEGROWN NATURALS, INC. 
 AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 
 Dated as of November 14, 2005 

 Table of Contents 

 

									
	 	 	 	 	 	 	 	 	 Page

			
	 1.
	 	Definitions	 	1
	 2.
	 	Registration.	 	4
		 	2.1	 	Registration on Request.	 	4
		 		 	(a)	 	Requests	 	4
		 		 	(b)	 	Obligation to Effect Registration	 	4
		 		 	(c)	 	Registration Statement Form	 	5
		 		 	(d)	 	Expenses	 	5
		 		 	(e)	 	Inclusion of Other Securities	 	5
		 		 	(f)	 	Priority in Demand Registrations	 	5
		 	2.2	 	Piggyback Registration	 	6
		 	2.3	 	Registration Procedures	 	7
		 	2.4	 	Underwritten Offerings	 	12
		 		 	(a)	 	Underwritten Offerings Exclusive	 	12
		 		 	(b)	 	Underwriting Agreement	 	12
		 		 	(c)	 	Selection of Underwriters	 	12
		 		 	(d)	 	Hold Back Agreements	 	12
		 	2.5	 	Preparation; Reasonable Investigation	 	13
		 	2.6	 	Indemnification.	 	13
		 		 	(a)	 	Indemnification by the Company	 	13
		 		 	(b)	 	Indemnification by the Sellers	 	14
		 		 	(c)	 	Notices of Claims, etc	 	15
		 		 	(d)	 	Other Indemnification	 	16
		 		 	(e)	 	Other Remedies	 	16
		 		 	(f)	 	Officers and Directors	 	17
		 	2.7	 	Representations and Warranties	 	17
	 3.
	 	Miscellaneous.	 	18
		 	3.1	 	Rule 144; Legended Securities; etc.	 	18
		 	3.2	 	Amendment, Modification and Waiver	 	18
		 	3.3	 	Permitted Transferees	 	19
		 	3.4	 	Notices	 	19
		 	3.5	 	No Inconsistent Agreements	 	20
		 	3.6	 	Stock Splits, etc	 	20
		 	3.7	 	Severability	 	21
		 	3.8	 	Headings	 	21
		 	3.9	 	Counterparts	 	21
		 	3.10	 	Governing Law	 	21
		 	3.11	 	No Third Party Beneficiaries	 	21
		 	3.12	 	Consent to Jurisdiction	 	21
		 	3.13	 	Waiver of July Trial	 	21

  
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 AMENDED AND RESTATED 

REGISTRATION RIGHTS AGREEMENT 
 REGISTRATION RIGHTS AGREEMENT (this “Agreement”), amended as of November 14, 2005, by and among Homegrown Naturals, Inc., a Delaware corporation (the
“Company”), Solera Partners, L.P., a Delaware limited partnership (“Solera Partners”), SCI Partners, L.P., a Delaware limited partnership (“SCI” and, together with Solera
Partners, “Solera”) and the stockholders identified on Schedule A and any party that becomes a stockholder by executing a counterpart hereto (each, a “Continuing Stockholder”). The Continuing
Stockholders, together with Solera, are hereinafter referred to collectively as the “Stockholders”. Capitalized terms used in this Agreement have the respective meanings attributed to them in Section 1. 

WHEREAS, pursuant to Section 3.2 of this Agreement, the Company and Solera intend to amend and restate this Agreement in the manner
set forth herein; 
 NOW, THEREFORE, in consideration of the mutual agreements contained herein and other good and valuable
consideration, the receipt and sufficiency of which is hereby acknowledged, the parties hereto agree as follows: 
 1.
Definitions. For purposes of this Agreement, the following terms have the following respective meanings: 

Affiliate: with respect to any Person, any other Person directly or indirectly Controlling, Controlled by or under common
Control with such first Person. “Control” means the power to direct or cause the direction of management or policies of such Person, directly or indirectly, whether through the ownership of voting securities, by contract or
otherwise. Any director, member of management or other employee of the Company or any of its Subsidiaries who would not otherwise be an Affiliate of Solera shall not be deemed to be an Affiliate of Solera. 

Agreement: as defined in the introductory paragraph. 

Business Day: a day other than a Saturday, Sunday or other day on which commercial banks in New York City are authorized or
required to close. 
 Common Stock: The Common Stock of the Company, par value $0.001 per share. 

DTC: the Depository Trust Company. 
 Exchange Act: the Securities Exchange Act of 1934, as amended, or any successor federal statute, and the rules and regulations thereunder which shall be in effect

  
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at the time. Any reference to a particular section thereof shall include a reference to the corresponding section, if any, of any such successor federal statute, and the rules and regulations
thereunder. 
 Holder: any holder of Registrable Securities. 

NASD: the National Association of Securities Dealers, Inc. 

Person: any individual, corporation, partnership, limited liability company, joint venture, trust or unincorporated
organization or other legal entity other than the Company. 
 Prospectus: the prospectus included in any
Registration Statement (including, without limitation, a prospectus that discloses information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A), as amended or supplemented by any
prospectus supplement, with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement and all other amendments and supplements to the prospectus, including post-effective amendments, and
all material incorporated by reference or deemed to be incorporated by reference in such prospectus. 
 Registrable
Securities: the shares of Common Stock beneficially owned (within the meaning of Rule 13d-3 of the Exchange Act) by Solera, the Continuing Stockholders or their permitted transferees under the Stockholders Agreement. As to any particular
Registrable Securities, once issued, such securities shall cease to be Registrable Securities when (A) a Registration Statement with respect to the sale of such securities shall have become effective under the Securities Act and such
securities shall have been disposed of in accordance with such Registration Statement, (B) such securities shall have been distributed to the public in reliance upon Rule 144, (C) subject to the provisions of
Section 3.1(b)(ii), such securities shall have been otherwise transferred, new certificates for such securities not bearing a legend restricting further transfer shall have been delivered by the Company and subsequent disposition of such
securities shall not require registration or qualification of such securities under the Securities Act or any similar state law then in force or (D) such securities shall have been acquired by the Company or otherwise shall have ceased
to be outstanding. 
 Registration Expenses: all fees and expenses incident to the performance of or compliance
with the provisions of this Agreement, whether or not any registration statement is filed or becomes effective, including, without limitation, all (i) registration and filing fees (including, without limitation, (A) fees with
respect to filings required to be made with the NASD in connection with an underwritten offering and (B) fees and expenses of compliance with state securities or blue sky laws (including, without limitation, fees and disbursements of
counsel for the underwriter or underwriters in 

  
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connection with blue sky qualifications of the Registrable Securities and determination of the eligibility of the Registrable Securities for investment under the laws of such jurisdictions as
provided in Section 2.3(e)), (ii) printing expenses (including, without limitation, expenses of printing certificates for Registrable Securities in a form eligible for deposit with DTC and of printing prospectuses),
(iii) fees and disbursements of all independent certified public accountants referred to in Section 2.3 (including, without limitation, the reasonable expenses of any special audit and “comfort” letters required by or
incident to such performance), (iv) the fees and expenses of any “qualified independent underwriter” or other independent appraiser participating in an offering pursuant to Rule 2720 of the NASD Rules of Conduct,
(v) liability insurance under the Securities Act or any other securities laws, if the Company desires such insurance, (vi) fees and expenses of all attorneys, advisers, appraisers and other persons retained by the Company or
any Subsidiary of the Company, (vii) internal expenses of the Company and its Subsidiaries (including, without limitation, (A) all salaries and expenses of officers and employees of the Company and its Subsidiaries performing
legal or accounting duties and (B) the expenses of any officers’ and directors’ liability insurance), (viii) the expense of any annual audit, (ix) the expenses relating to printing, word processing and
distributing all registration statements, underwriting agreements, securities sales agreements and any other documents necessary in order to comply with this Agreement and (x) the reasonable out-of-pocket expenses of the Holders of the
Registrable Securities being registered in such registration incurred in connection therewith including, without limitation, the reasonable fees and disbursements of not more than one counsel (together with appropriate local counsel) chosen by the
holders of a majority of Registrable Securities included in such registration. “Registration Expenses” shall not include any underwriting discounts or commissions or any transfer taxes payable in respect of the sale of Registrable
Securities by the Holders thereof. 
 Registration Statement: any registration statement of the Company that
covers any of the Registrable Securities pursuant to the provisions of this Agreement, and all amendments and supplements to any such registration statement, including post-effective amendments, in each case including the Prospectus, all exhibits
and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 

Rule 144: Rule 144 (or any successor provision) under the Securities Act. 

Rule 144A: Rule 144A (or any successor provision) under the Securities Act. 

Rule 145: Rule 145 (or any successor provision) under the Securities Act. 

Securities Act: the Securities Act of 1933, as amended, or any successor federal statute, and the rules and regulations
thereunder which shall be in effect at the time. Any reference to a particular section thereof shall include a reference to the corresponding 

  
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section, if any, of any such successor federal statute, and the rules and regulations thereunder. 
 SEC: the Securities and Exchange Commission or any other federal agency at the time administering the Securities Act or the Exchange Act. 

Stockholders Agreement: the Stockholders Agreement by and among the Company, Solera and the other parties thereto, as the
same may be amended from time to time. 
 Subsidiary: with respect to any Person, any corporation or Person, a
majority of the outstanding voting stock or other equity interests of which is owned, directly or indirectly, by that Person. 

“underwritten registration” or “underwritten offering” means a registration in which
securities of the Company (including Registrable Securities) are sold to an underwriter for reoffering to the public. 
 Any
reference in this Agreement to a statute shall be to such statute, as amended from time to time, and to the rules and regulations promulgated thereunder. 
 2. Registration. 
 2.1 Registration on Request. 

(a) Requests. Subject to the provisions of Section 2.6, at any time or from time to time as of the date hereof, Solera shall
have the right to make written requests that the Company effect one or more registrations under the Securities Act of all or part of the Registrable Securities of Solera, which requests shall specify the intended method of disposition thereof,
including whether the registration requested is for an underwritten offering. 
 (b) Obligation to Effect Registration.
Within 30 days after receipt by the Company of any request for registration pursuant to Section 2.1(a), the Company shall promptly give written notice of such requested registration to all Holders, and thereupon will use its reasonable best
efforts to effect the prompt registration under the Securities Act of: 
 (i) the Registrable Securities which
the Company has been so requested to register pursuant to Section 2.1(a), and 
 (ii) all other Registrable
Securities which the Company has been requested to register by the Holders thereof by written request given to the Company within 30 days after the Company has given such written notice (which 

  
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request shall specify the intended method of disposition of such Registrable Securities), 
 in each case to the extent required to permit the disposition (in accordance with the intended methods thereof as aforesaid) of the Registrable Securities so to be registered. 

(c) Registration Statement Form. Each registration requested pursuant to this Section 2.1 shall, as directed by the holders
of at least a majority (by number of shares) of Registrable Securities as to which registration has been requested pursuant to this Section 2.1, be effected by the filing of a registration statement on Form S-1, Form S-2, Form S-3 or Form SB-2
(or any other form which includes substantially the same information as would be required to be included in a registration statement on such forms as presently constituted), unless the use of a different form is (i) required by law or
(ii) permitted by law and agreed to in writing by holders of at least a majority (by number of shares) of Registrable Securities as to which registration has been requested pursuant to this Section 2.1. At any time after the Company
has issued and sold any shares of its capital stock registered under an effective registration statement under the Securities Act, or after the Company shall have registered any class of equity securities pursuant to Section 12 of the Exchange
Act, it will use its reasonable best efforts to qualify for registration on Form S-2 or Form S-3 (or any other comparable form hereinafter adopted). 
 (d) Expenses. The Company will pay all Registration Expenses in connection with any registration requested under Section 2.1(a); provided that each Holder whose Registrable Securities
are then being registered shall pay all Registration Expenses to the extent required to be paid by such Holder under applicable law and all underwriting discounts and commissions and transfer taxes, if any. 

(e) Inclusion of Other Securities. The Company may include in any registration pursuant to Section 2.1(a) the securities of
Persons other than the Company and the Holders, with the written consent of Solera. 
 (f) Priority in Demand
Registrations. If, in connection with a registration pursuant to Section 2.1(a), the managing underwriter (in the case of an underwritten offering) or a nationally recognized investment banking firm (in the case of an offering which is not
underwritten) (such managing underwriter or investment banking firm, the “Company Financial Advisor”) shall advise the Company or Solera in writing (with a copy to each Person requesting registration of Registrable Securities) that,
in its opinion, the number of securities requested and otherwise proposed to be included in such registration exceeds the number which can be sold in such offering without materially and adversely affecting the offering price, then the Company will
include in such registration to the extent of the number which the Company is so advised can be sold in such offering without such material adverse effect, the Registrable Securities being sold

  
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by the Holders thereof on a pro rata basis (based on the number of Registrable Securities as to which registration was requested by each such Holder). Notwithstanding the foregoing,
any Continuing Stockholder who is a manager or director of the Company (and any successor managers or directors of the Company and its subsidiaries) will not be entitled to participate in any such registration requested by Solera to the extent that
the Company Financial Advisor shall determine in good faith and in writing (with a copy to each affected Holder requesting registration of Registrable Securities), that the participation of such Continuing Stockholder would adversely affect the
marketability or offering price of the securities being sold in such registration. 
 2.2 Piggyback Registration. If the
Company at any time proposes to register any of its equity securities (as defined in the Exchange Act) under the Securities Act (other than pursuant to Section 2.1 or on Form S-4 or Form S-8) for its own account, and the registration form to be
used may be used for the registration of Registrable Securities, it shall each such time give prompt written notice to all Holders of its intention to do so and, upon the written request of any Holder given to the Company within 30 days after the
Company has given any such notice (which request shall specify the Registrable Securities intended to be disposed of by such Holder and the intended method of disposition thereof), the Company will use its reasonable best efforts to effect the
registration under the Securities Act of all Registrable Securities which the Company has been so requested to register by the Holders thereof, to the extent required to permit the disposition (in accordance with the intended methods thereof as
aforesaid) of the Registrable Securities so requested to be registered, provided that: 
 (a) if such
registration shall be in connection with the initial public offering of Common Stock, the Company shall not include any Registrable Securities in such proposed registration if the Board shall have determined, after consultation with the managing
underwriters for such offering, that it is not in the best interests of the Company to include any Registrable Securities in such registration, provided that, if the Board makes such a determination, the Company shall not include in such
registration any securities not being sold for the account of the Company; 
 (b) if, at any time after giving
written notice of its intention to register any securities and prior to the effective date of the Registration Statement filed in connection with such registration, the Company shall determine for any reason not to register such securities, the
Company may, at its election, give written notice of such determination to each Holder that was previously notified of such registration and, thereupon, shall not register any Registrable Securities in connection with such registration (but shall
nevertheless pay the Registration Expenses in connection therewith), without prejudice, however, to the rights of any Holders to request that a registration be effected under Section 2.1; and 

  
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 (c) if the Company or Solera shall be advised in writing by the Company
Financial Advisor that, in the opinion of the Company Financial Advisor, the number of securities requested and otherwise proposed to be included in such registration exceeds the number which can be sold in such offering without materially and
adversely affecting the offering price, then the Company will include in such registration to the extent of the number which the Company is so advised can be sold in such offering without such material adverse effect, the Registrable Securities
being sold by the Holders thereof on a pro rata basis (based on the number of Registrable Securities as to which registration was requested by each such Holder). Notwithstanding the foregoing, any Continuing Stockholder who is a manager or
director of the Company (and any successor managers or directors of the Company and its subsidiaries) will not be entitled to participate in any such registration requested under this Section 2.2 to the extent that the Company Financial Advisor
shall determine in good faith and in writing (with a copy to each affected Holder requesting registration of Registrable Securities), that the participation of such Continuing Stockholder would adversely affect the marketability or offering price of
the securities being sold in such registration; and 
 (d) if prior to the effective date of the registration
statement filed in connection with such registration, the Company or Solera is informed by the Company Financial Advisor that the price at which such securities are to be sold is a price below that price which the requesting Holders shall have
indicated to be acceptable, the Company shall promptly notify the requesting Holders of such fact, and each such requesting Holder shall have the right to withdraw its request to have its Registrable Securities included in such registration
statement. 
 The Company will pay all Registration Expenses in connection with any registration requested under this
Section 2.2; provided that each Holder whose Registrable Securities are then being registered shall pay all Registration Expenses to the extent required to be paid by such Holder under applicable law and all underwriting discounts and
commissions and transfer taxes, if any. No registration effected under this Section 2.2 shall relieve the Company from its obligation to effect registrations upon request under Section 2.1. The Company shall not be obligated to cause any
“piggyback” registration to be underwritten. 
 2.3 Registration Procedures. If and whenever the Company is
required to use its reasonable best efforts to effect the registration of any Registrable Securities under the Securities Act as provided in Sections 2.1 and 2.2, the Company shall: 

(a) prepare and file with the SEC, as soon as practicable, a Registration Statement with respect to such securities, make
all required filings 

  
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with the NASD and use its reasonable best efforts to cause such Registration Statement to become effective; 

(b) prepare and promptly file with the SEC such amendments and supplements to such Registration Statement and the
Prospectus used in connection therewith and such other documents as may be necessary to keep such Registration Statement effective and to comply with the provisions of the Securities Act with respect to the disposition of all securities covered by
such Registration Statement until such time as all of such securities have been disposed of in accordance with the intended methods of disposition by the seller or sellers thereof set forth in such Registration Statement, but in no event for a
period of more than six months after such Registration Statement becomes effective; 
 (c) at least five Business
Days before filing with the SEC, furnish to (i) in the case of a registration in which Solera is participating, counsel selected by Solera and (ii) in the case of a registration in which Solera is not participating, counsel
selected by the Holders of a majority (by number of shares) of the Registrable Securities covered by such registration statement and to counsel for the underwriters in any underwritten offering copies of all documents proposed to be filed with the
SEC in connection with such registration, which documents will be subject to the review of such counsel; 
 (d)
furnish to each seller of Registrable Securities, 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 and documents required to be
filed therewith (other than those filed on a confidential basis), except that the Company shall not be obligated to furnish any seller of securities with more than two copies of such exhibits and documents), such number of copies of the Prospectus
included in such Registration Statement (including each preliminary prospectus and any summary prospectus) in conformity with the requirements of the Securities Act, and such other documents, as such seller may reasonably request in order to
facilitate the disposition of the securities owned by such seller; 
 (e) use its reasonable best efforts
(x) to register or qualify the securities covered by such Registration Statement under such other securities or blue sky laws of such jurisdictions as each seller shall request, (y) to keep such registration or qualification
in effect for so long as such Registration Statement remains in effect and (z) to do any and all other acts and things which may be necessary or advisable to enable such seller to consummate the disposition in such jurisdictions of the
securities owned by such seller, except that the Company shall not for any such purpose be required to qualify generally to do business as a foreign corporation in any jurisdiction wherein it is not so qualified, subject itself

  
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to taxation in any jurisdiction wherein it is not so subject, or take any action which would subject it to general service of process in any jurisdiction wherein it is not so subject; 

(f) in connection with an underwritten public offering only, use its reasonable best efforts to furnish to each seller of
Registrable Securities a signed counterpart, addressed to the sellers, copies of: 
 (i) an opinion of counsel
for the Company experienced in securities law matters, dated the effective date of the Registration Statement, and 
 (ii) a “comfort” letter signed by the independent public accountants who have issued an audit report on the Company’s financial statements included in the Registration Statement,

 each covering substantially the same matters with respect to the Registration Statement (and the Prospectus included therein)
and, in the case of such accountants’ letter, with respect to events subsequent to the date of such financial statements, as are customarily covered in opinions of issuer’s counsel and in accountants’ letters delivered to the
underwriters in underwritten public offerings of securities; 
 (g) (i) notify each Holder of Registrable
Securities subject to such Registration Statement if such Registration Statement, at the time it or any amendment thereto became effective, (x) contained an untrue statement of a material fact or omitted to state a material fact required
to be stated therein or necessary to make the statements therein not misleading upon discovery by the Company of such material misstatement or omission or (y) upon discovery by the Company of the happening of any event as a result of
which the Company believes there would be such a material misstatement or omission, and, as promptly as practicable, prepare and file with the SEC a post-effective amendment to such registration statement and use its reasonable best efforts to cause
such post-effective amendment to become effective such that such registration statement, as so amended, shall not contain 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, and (ii) notify each Holder of Registrable Securities subject to such Registration Statement, at any time when a Prospectus relating thereto is required to be delivered under the Securities Act, if the
Prospectus included in such Registration Statement, as then in effect, includes an untrue statement of a material fact or omits to state a material fact required to be stated therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading 

  
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upon discovery by the Company of such material misstatement or omission or upon discovery by the Company of the happening of any event as a result of which the Company believes there would be a
material misstatement or omission, and, as promptly as is practicable, prepare and furnish to such Holder 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
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, in light of the circumstances under
which they were made, not misleading; 
 (h) otherwise use its reasonable best efforts to comply with all
applicable rules and regulations of the SEC, and make available to its security holders, as soon as reasonably practicable, an earnings statement of the Company complying with the provisions of Section 11(a) of the Securities Act and Rule 158
under the Securities Act; 
 (i) notify each Holder of any Registrable Securities covered by such Registration
Statement (i) when such Registration Statement, or any post-effective amendment to such Registration Statement, shall have become effective, or any amendment of or supplement to the Prospectus used in connection therewith shall have been
filed, (ii) of any request by the SEC to amend such Registration Statement or to amend or supplement such Prospectus or for additional information, (iii) of the issuance by the SEC of any stop order suspending the
effectiveness of such Registration Statement or of any order preventing or suspending the use of any preliminary prospectus or the initiation or threatening of any proceedings for any of such purposes, (iv) of the suspension of the
qualification of such securities for offering or sale in any jurisdiction, or of the institution of any proceedings for any of such purposes and (v) if at any time when a Prospectus is to be required by the Securities Act to be delivered
in connection with the sale of the Registrable Securities, the representations and warranties of the Company contained in any agreement (including the underwriting agreement contemplated in Section 2.4(b) below), to the knowledge of the
Company, cease to be true and correct in any material respect; 
 (j) use its reasonable best efforts
(i) (A) to list such securities on any securities exchange on which the Common Stock is then listed or, if no Common Stock is then listed, on an exchange selected by the Company, if such listing is then permitted under the
rules of such exchange or (B) if such listing is not practicable or the Board determines that quotation as a NASDAQ National Market System security is preferable, to secure designation of such securities as a NASDAQ “national market
system security” within the meaning of Rule 11Aa2-1 under the Exchange Act and (ii) to provide and cause to be maintained a transfer 

  
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 agent and registrar for such Registrable Securities not later than the
effective date of such registration statement; and 
 (k) use its reasonable best efforts to obtain the lifting
of any stop order that might be issued suspending the effectiveness of such Registration Statement or any order preventing or suspending the use of any preliminary prospectus, provided that if the Company is unable to obtain the lifting of
any such stop order in connection with a registration pursuant to Section 2.1(a), the request for registration shall not be deemed exercised for purposes of determining whether such registration has been effected for purposes of
Section 2.1(a) or (d). 
 The Company may require each Holder of any Registrable Securities as to which any registration is
being effected to furnish to the Company such information regarding such Holder and the distribution of such securities as the Company may from time to time reasonably request in writing and as shall be required by law in connection therewith. Each
such Holder agrees to furnish promptly to the Company all information required to be disclosed in order to make the information previously furnished to the Company by such Holder not materially misleading. 

The Company agrees not to file or make any amendment to any Registration Statement with respect to any Registrable Securities, or any
amendment of or supplement to the Prospectus used in connection therewith, which refers to any seller of any securities covered thereby by name, or otherwise identifies such seller as the holder of any securities of the Company, without the consent
of such seller, such consent not to be unreasonably withheld, except that no such consent shall be required for any disclosure that is required by law. 
 By the acquisition of Registrable Securities, each Holder shall be deemed to have agreed that upon receipt of any notice from the Company pursuant to Section 2.3(g), such Holder will promptly
discontinue such Holder’s disposition of Registrable Securities pursuant to the Registration Statement covering such Registrable Securities until such Holder shall have received, in the case of clause (i) of Section 2.3(g), notice
from the Company that such Registration Statement has been amended, as contemplated by Section 2.3(g); or, in the case of clause (ii) of Section 2.3(g), copies of the supplemented or amended Prospectus contemplated by
Section 2.3(g). If so directed by the Company, each Holder will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies, in such Holder’s possession of the Prospectus covering such Registrable
Securities at the time of receipt of such notice. In the event that the Company shall give any such notice, the period mentioned in Section 2.3(b) shall be extended by the number of days during the period from and including the date of the
giving of such notice to and including the date when each seller of any Registrable Securities covered by such Registration Statement shall have received the copies of the supplemented or amended Prospectus contemplated by Section 2.3(g).

  
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 2.4 Underwritten Offerings. The provisions of this Section 2.4 do not establish
additional registration rights but instead set forth procedures applicable, in addition to those set forth in Sections 2.1 through 2.3, to any registration that is an underwritten offering. 

(a) Underwritten Offerings Exclusive. Whenever a registration requested pursuant to Section 2.1 is for an underwritten
offering, only securities that are to be distributed by the underwriters may be included in the registration. 
 (b)
Underwriting Agreement. If requested by the underwriters for any underwritten offering by Holders pursuant to a registration requested under Section 2.1, the Company shall enter into an underwriting agreement with such underwriters for
such offering, such agreement to be reasonably satisfactory in substance and form to the Holders of a majority (by number of shares) of the Registrable Securities to be covered by such registration and to the underwriters and to contain such
representations and warranties by the Company and such other terms and provisions as are customarily contained in agreements of this type, including, but not limited to, indemnities to the effect and to the extent provided in Section 2.6,
provisions for the delivery of officers’ certificates, opinions of counsel and accountants’ “comfort” letters and hold-back arrangements. The Holders of Registrable Securities to be distributed by such underwriters shall be
parties to such underwriting agreement and may, at their option, require that any or all of the representations and warranties by, and the agreements on the part of, the Company to and for the benefit of such underwriters be made to and for the
benefit of such Holders and that any or all of the conditions precedent to the obligations of such underwriters under such underwriting agreement shall also be conditions precedent to the obligations of such Holders. No such Holder shall be required
by the Company to make any representations or warranties to, or agreements with, the Company or the underwriters other than as set forth in Sections 2.4(d) and 2.6(b), and representations, warranties or agreements regarding such Holder and such
Holder’s intended method of distribution and any other representations required by applicable law. 
 (c) Selection of
Underwriters. Whenever a registration requested pursuant to Section 2.1(a) is for an underwritten offering, Solera shall have the right to select the managing underwriter (which shall be of nationally recognized standing) to administer the
offering. If the Company at any time proposes to register any of its securities under the Securities Act for sale for its own account and such securities are to be distributed by or through one or more underwriters, the Company, with consultation
with Solera, shall have the right to select the managing underwriter (which shall be of nationally recognized standing) to administer the offering. 
 (d) Hold Back Agreements. If and whenever the Company proposes to register any of its equity securities under the Securities Act, whether or not for its own account (other than on Form S-4 or Form
S-8), or is required to use its reasonable best 

  
 12 

 
efforts to effect the registration of any Registrable Securities under the Securities Act pursuant to Section 2.1 or 2.2, each Holder, if required by the managing underwriter in an
underwritten offering, agrees by acquisition of such Registrable Securities not to effect (other than pursuant to such registration) any public sale or distribution, including, but not limited to, any sale pursuant to Rule 144 or Rule 144A, of any
Registrable Securities, any other equity securities of the Company or any securities convertible into or exchangeable or exercisable for any equity securities of the Company for 180 days after, and during the 20 days prior to, the effective date of
such registration, to the extent timely notified in writing by the Company or the managing underwriter, and the Company agrees, if required by the managing underwriter in an underwritten offering, to cause each holder of any equity security, or of
any security convertible into or exchangeable or exercisable for any equity security, of the Company purchased from the Company at any time other than in a public offering to enter into a similar agreement with the Company. The Company further
agrees not to effect (other than pursuant to such registration or a registration on Form S-4 or Form S-8) any public sale or distribution, or to file any Registration Statement (other than in connection with such registration or on Form S-4 or Form
S-8) covering any, of its equity securities, or any securities convertible into or exchangeable or exercisable for such securities, during the 20 days prior to, and for 180 days after, the effective date of such registration, if so required by the
managing underwriter, and the Company shall so provide in any registration rights agreement with respect to any of its equity securities. 
 2.5 Preparation; Reasonable Investigation. In connection with the preparation and filing of each Registration Statement registering Registrable Securities under the Securities Act, the Company
shall give such number of Holders of such Registrable Securities so to be registered and their underwriters as required by applicable law (but in no event less than a majority in interest of such Holders), if any, and their respective counsel and
accountants, the opportunity to participate in the preparation of such Registration Statement, each Prospectus included therein or filed with the SEC, and each amendment thereof or supplement thereto, and shall give each of them such access to all
pertinent financial, corporate and other documents and properties of the Company and its Subsidiaries, and such opportunities to discuss the business of the Company with its officers, directors, employees and the independent public accountants who
have issued audit reports on its financial statements as shall be necessary, in the opinion of such Holders’ and such underwriters’ respective counsel, to conduct a reasonable investigation within the meaning of the Securities Act.

 2.6 Indemnification. 
 (a) Indemnification by the Company. In the event of any registration of any Registrable Securities under the Securities Act pursuant to Section 2.1 or 2.2, the Company shall indemnify and hold
harmless the seller of such securities, its directors, officers, and employees, each other Person who participates as an underwriter, broker or 

  
 13 

 
dealer in the offering or sale of such securities and each other Person, if any, who controls such seller or any such participating Person within the meaning of either Section 15 of the
Securities Act or Section 20 of the Exchange Act, against any and all losses, claims, damages or liabilities, joint or several, to which such seller or any such director, officer, employee, participating Person or controlling Person may become
subject under the Securities Act or otherwise (including, without limitation, the reasonable fees of legal counsel incurred in connection with any claim for indemnity hereunder), insofar as such losses, claims, damages or liabilities (or actions or
proceedings in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement under which such securities were registered under the
Securities Act, any Prospectus or preliminary prospectus included therein, or any amendment or supplement thereto, or (ii) any omission or alleged omission to state a material fact required to be stated in any such Registration
Statement, Prospectus, preliminary prospectus, amendment or supplement or necessary to make the statements therein not misleading; and the Company shall reimburse such seller and each such director, officer, employee, participating Person and
controlling Person for any legal or any other expenses reasonably incurred by them in connection with investigating or defending any such loss, claim, liability, action or proceeding as such expenses are incurred; provided that the Company
shall not be liable in any such case to the extent that any such loss, claim, damage, liability or expense arises out of or is based upon an untrue statement or omission made in any such Registration Statement, Prospectus, preliminary prospectus,
amendment or supplement in reliance upon and in conformity with written information furnished to the Company by such seller or participating Person expressly for use in the preparation thereof. The Company and the Continuing Stockholders hereby
acknowledge and agree that, unless otherwise expressly agreed to in writing by such Continuing Stockholders, the only information furnished or to be furnished to the Company by such Continuing Stockholders in their capacity as selling Holders for
use in any Registration Statement or Prospectus, preliminary prospectus, amendment or supplement relating to the Registrable Securities are statements specifically relating to (i) transactions between such Continuing Stockholder and the
Company, (ii) the beneficial ownership of shares of Common Stock by such Continuing Stockholder and (iii) the name and address of such Continuing Stockholder. If any additional information about such Continuing Stockholder or
the plan of distribution (other than for an underwritten offering) is required by law to be disclosed in any such document, then such Continuing Stockholder shall not unreasonably withhold its agreement referred to in the immediately preceding
sentence of this Section 2.6(a). Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such seller or any such director, officer, employee, participating Person or controlling Person and
shall survive the transfer of such securities by such seller. 
 (b) Indemnification by the Sellers. In the event of any
registration of any Registrable Securities under the Securities Act pursuant to Section 2.1 or 2.2, each of the prospective sellers of such securities, will indemnify and hold harmless the Company,

  
 14 

 
each director of the Company, each officer of the Company who shall sign such Registration Statement, and each other Person, if any, who controls the Company or any such participating Person
within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act, against any and all losses, claims, damages or liabilities, joint or several, to which the Company or any such director, officer, employee,
participating Person or controlling Person may become subject under the Securities Act or otherwise (including, without limitation, the reasonable fees of legal counsel incurred in connection with any claim for indemnity hereunder), insofar as such
losses, claims, damages or liabilities (or actions or proceedings in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of a material fact contained in any Registration Statement under which such
securities were registered under the Securities Act, any Prospectus or preliminary prospectus included therein, or any amendment or supplement thereto, or any omission or alleged omission to state a material fact with respect to such seller required
to be stated in any such Registration Statement, Prospectus, preliminary prospectus, amendment or supplement or necessary to make the statements therein not misleading if such statement or omission was made in reliance upon and in conformity with
written information furnished to the Company by such seller in such seller’s capacity as a selling Holder expressly for use in the preparation of any such Registration Statement, Prospectus, preliminary prospectus, amendment or supplement;
provided that the liability of each such seller shall be in proportion to and limited to the net amount received by such seller (after deducting any underwriting discount and expenses) from the sale of Registrable Securities pursuant to such
Registration Statement. The Company and the Continuing Stockholders hereby acknowledge and agree that, unless otherwise expressly agreed to in writing by such Continuing Stockholders, the only information furnished or to be furnished to the Company
by such Continuing Stockholders in their capacity as selling Holders for use in any Registration Statement or Prospectus, preliminary prospectus, amendment or supplement relating to the Registrable Securities are statements specifically relating to
(i) transactions between such Continuing Stockholder and the Company, (ii) the beneficial ownership of shares of Common Stock by such Continuing Stockholder and (iii) the name and address of such Continuing
Stockholder. If any additional information about such Continuing Stockholder or the plan of distribution (other than for an underwritten offering) is required by law to be disclosed in any such document, then such Continuing Stockholder shall not
unreasonably withhold its agreement referred to in the immediately preceding sentence of this Section 2.6(b). Such indemnity shall remain in full force and effect regardless of any investigation made by or on behalf of such seller or any such
director, officer, employee, participating Person or controlling Person and shall survive the transfer of such securities by such seller. 
 (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 2.6, such indemnified party shall, if a claim in respect thereof is to be made against an indemnifying party hereunder, give written notice 

  
 15 

 
to the latter of the commencement of such action, provided that the failure of any indemnified party to give notice as provided therein shall not relieve the indemnifying party of its
obligations under the preceding paragraphs of this Section 2.6 unless the failure to provide prompt written notice shall cause actual prejudice to the indemnifying party. In case any such action is brought against an indemnified party and it
notifies the indemnifying party of the commencement thereof, the indemnifying party shall have the right to retain counsel reasonably satisfactory to such indemnified party to defend against such proceeding and shall pay the reasonable fees and
disbursements of such counsel related to such proceeding. In case any such action is brought against an indemnified party, the indemnifying party will be entitled to participate therein and to assume the defense thereof, jointly with any other
indemnifying party similarly notified to the extent that it may wish, with counsel reasonably satisfactory to such indemnified party, and after notice from the indemnifying party to such indemnified party of its election so to assume the defense
thereof, the indemnifying party will not be liable to such indemnified party for any legal or other expenses subsequently incurred by the latter in connection with the defense thereof, provided that if such indemnified party and the
indemnifying party reasonably determine, based upon advice of their respective independent counsel, that a conflict of interest may exist between the indemnified party and the indemnifying party with respect to such action and that it is advisable
for such indemnified party to be represented by separate counsel, such indemnified party may retain other counsel, reasonably satisfactory to the indemnifying party, to represent such indemnified party, and the indemnifying party shall pay all
reasonable fees and expenses of such counsel. No indemnifying party, in the defense of any such claim or litigation, shall, except with the consent of such indemnified party, which consent shall not be unreasonably withheld, consent to entry of any
judgment or enter into any settlement which does not include as an unconditional term thereof the giving by the claimant or plaintiff to such indemnified party of a release from all liability in respect to such claim or litigation. 

(d) Other Indemnification. Indemnification similar to that specified in the preceding paragraphs of this Section 2.6 (with
appropriate modifications) shall be given by the Company and each seller of Registrable Securities with respect to any required registration or other qualification of such Registrable Securities under any federal or state law or regulation of
governmental authority other than the Securities Act. 
 (e) Other Remedies. If for any reason the foregoing indemnity
under Section 2.6(a) or (b) is unavailable, or is insufficient to hold harmless an indemnified party, other than by reason of the exceptions provided therein, then the indemnifying party and the indemnified party under Section 2.6(a)
or (b) shall contribute to the amount paid or payable by the indemnified party as a result of such losses, claims, damages, liabilities or expenses (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 or (ii) if the allocation provided by clause (i) above is not permitted by applicable law, or provides a lesser sum to the indemnified party than the amount
hereinafter calculated, in such 

  
 16 

 
proportion as is appropriate to reflect not only the relative fault of the indemnifying party on the one hand and the indemnified party on the other but also the relative benefits received by the
indemnifying party and the indemnified party from the offering of Registrable Securities (taking into account the portion of the proceeds of the offering realized by each such party) as well as any other relevant equitable considerations. No Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. Any party’s obligation to
contribute pursuant to this Section 2.6(e) is several (in proportion to the relative value of their Registrable Securities covered by a registration statement) and not joint with the obligations of any other party. No party shall be liable for
contribution under this Section 2.6(e) except to the extent and under such circumstances as such party would have been liable to indemnify under this Section 2.6 if such indemnification were enforceable under applicable law. 

(f) Officers and Directors. As used in this Section 2.6, the terms “officers” and “directors” shall
include the partners of Holders which are partnerships and the members of Holders which are limited liability companies. 
 2.7
Representations and Warranties. Each Stockholder represents and warrants to the Company and each other Stockholder that: 
 (a) such Stockholder has the power, authority and capacity (or, in the case of any Stockholder that is a corporation, limited liability company or limited partnership, all corporate, limited liability
company or limited partnership power and authority, as the case may be) to execute, deliver and perform this Agreement; 
 (b) in the case of a Stockholder that is a corporation, limited liability company or limited partnership, the execution, delivery and performance of this Agreement by such Stockholder has been duly and
validly authorized and approved by all necessary corporate, limited liability company or limited partnership action, as the case may be; 
 (c) this Agreement has been duly and validly executed and delivered by such Stockholder and constitutes a valid and legally binding obligation of such Stockholder, enforceable in accordance with its
terms, subject to bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to creditors’ rights generally and general principles of equity; and 

(d) the execution, delivery and performance of this Agreement by such Stockholder does not and will not violate the terms
of or result in the acceleration of any obligation under (A) any material contract, commitment or other material instrument to which such Stockholder is a party or by which such Stockholder is

  
 17 

 
bound or (B) in the case of a Stockholder that is a corporation, limited liability company or limited partnership, the certificate of incorporation, certificate of limited liability
company, certificate of limited partnership, by-laws, operating agreement or limited partnership agreement, as the case may be. 

3. Miscellaneous. 
 3.1 Rule 144; Legended Securities; etc. 
 (a) If the Company shall have
filed a registration statement pursuant to Section 12 of the Exchange Act or a registration statement pursuant to the Securities Act relating to any class of equity securities (other than a registration statement pursuant to a Special
Registration), the Company shall file the reports required to be filed by it under the Securities Act and the Exchange Act and the rules and regulations adopted by the SEC thereunder (or, if the Company is not required to file such reports, it will,
upon the request of any Holder, make publicly available such information as necessary to permit sales pursuant to Rule 144 or Rule 145), and shall take such further action as any Holder may reasonably request, all to the extent required from time to
time to enable such Holder to sell shares of Registrable Securities without registration under the Securities Act within the limitation of the exemptions provided by Rule 144 or Rule 145. Upon the request of any Holder, the Company shall deliver to
such Holder a written statement as to whether it has complied with such requirements. 
 (b) The Company shall issue new
certificates for Registrable Securities without a legend restricting further transfer if (i) such securities have been sold to the public pursuant to an effective Registration Statement under the Securities Act (other than Form S-8 if
the Holder of such Registrable Securities is an Affiliate) or in compliance with Rule 144, or (ii) (x) such issuance is otherwise permitted under the Securities Act without restriction, (y) the Holder of such
shares has delivered to the Company an opinion of counsel, which opinion and counsel shall be reasonably satisfactory to the Company, to such effect and (z) the Holder of such shares expressly requests the issuance of such certificates
in writing. 
 3.2 Amendment, Modification and Waiver. This Agreement may not be amended, modified or supplemented except
by a written instrument signed by the Company, Solera and, to the extent (and only to the extent) the interests of the Continuing Stockholders as a group are adversely affected by such amendment, modification or supplement, by a majority (by number
of shares of Common Stock on a fully-diluted basis) of the Continuing Stockholders, provided that the consent of the majority of the Continuing Stockholders shall not be required to the joinder of those stockholders of the Company who
hereafter become parties to this Agreement as Continuing Stockholders from time to time or as another class of parties with rights no greater in the aggregate than the rights of the Continuing Stockholders and provided 

  
 18 

 
further that all Stockholders shall be notified of all such amendments, modifications, supplements or waivers. No amendment, modification, supplement of this Agreement, and no waiver
hereunder, shall be valid or binding unless set forth in writing. Any such waiver shall constitute a waiver only with respect to the specific matter described in such writing and shall in no way impair the rights of the party or parties granting
such waiver in any other respect or at any other time. 
 3.3 Permitted Transferees. This Agreement shall be binding upon
and shall inure to the benefit of the parties hereto and (i) with respect to Solera, its successors, assigns and transferees and (ii) with respect to the Continuing Stockholders, their respective permitted transferees under
the Stockholders Agreement, provided that each such permitted transferee of such Continuing Stockholder executes a joinder agreement in form and substance satisfactory to the Company. 

3.4 Notices. All notices, requests, demands, waivers and other communications required or permitted to be given under this
Agreement shall be in writing and shall be deemed to have been duly given if (a) delivered personally, (b) mailed, certified or registered mail with postage prepaid, (c) sent by next-day or overnight mail or
delivery or (d) sent by fax, as follows: 
  

					
		 	 (i)
	  	If to Solera Partners, to it at:
		 		  	  
 Solera Partners, L.P.

c/o Solera Capital LLC
 625 Madison Avenue, 3rd
Floor
 New York, NY 10022
 Fax:
(212) 833-1460
 Attn: Molly F. Ashby

			
		 	 (ii)
	  	If to SCI, to it at:
		 		  	  
 SCI Partners, L.P.

c/o Solera Capital LLC
 625 Madison Avenue, 3rd
Floor
 New York, NY 10022
 Fax:
(212) 833-1460
 Attn: Molly F. Ashby

  
 19 

	 	(iii)	If to the Company, to it at: 

Homegrown Naturals, Inc. 
 560 Gateway Drive 
 Napa, CA 94558 

Fax: (707) 259-0387 
 Attn: Chief Executive Officer 
  

	 	(except	that, until December 1, 2005, the notice should be sent to 580 Gateway Drive) 

with copies to Solera Partners and SCI Partners at their respective addresses set forth above; 

(iv) if to any Continuing Stockholder, to the address set forth on Schedule A opposite such Continuing Stockholders name;

 or, in each case, at such other address as may be specified in writing to the other parties hereto. 

All such notices, requests, demands, waivers and other communications shall be deemed to have been received (w) if by personal delivery on
the day after such delivery, (x) if by certified or registered mail, on the fifth Business Day after the mailing thereof, (y) if by next-day or overnight mail or delivery, on the day delivered or (z) if by fax, on
the next day following the day on which such fax was sent, provided that a copy is promptly thereafter sent by certified, registered, next day, overnight mail or delivery. 

3.5 No Inconsistent Agreements. The Company shall not hereafter enter into any agreement, or amend any existing agreement, with
respect to its securities if such agreement would be inconsistent with the rights granted to the Holders by this Agreement. 

3.6 Stock Splits, etc. Each party hereto or beneficiary hereof agrees that it will vote to effect a stock split (forward or
reverse, as the case may be) with respect to any Registrable Securities in connection with any registration of such Registrable Securities hereunder, or otherwise, if the managing underwriter shall advise the Company in writing (or, in connection
with an offering that is not underwritten, if an investment banker shall advise the Company in writing) that in their or its opinion such a stock split would facilitate or increase the likelihood of success of the offering. Each party hereto agrees
that any number of shares of Common Stock referred to in this Agreement shall be equitably adjusted to reflect any stock split, stock dividend, stock combination, recapitalization or similar transaction. 

  
 20 

 3.7 Severability. If any clause, provision or section of this Agreement shall be
invalid, illegal or unenforceable, the invalidity, illegality or unenforceability of such clause, provision or section shall not affect the enforceability or validity of any of the remaining clauses, provisions or sections hereof to the extent
permitted by applicable law. The invalidity of any one or more phrases, sentences, clauses, Sections or subsections of this Agreement shall not affect the remaining portions of this Agreement. 

3.8 Headings. The headings contained in this Agreement are for purposes of convenience only and shall not affect the meaning or
interpretation of this Agreement. 
 3.9 Counterparts. This Agreement may be executed in several counterparts, each of
which shall be deemed an original and all of which together constitute one and the same instrument. 
 3.10 Fax
Signatures. Each of the parties hereto (i) has agreed to permit the use, from time to time and where appropriate, of faxed signatures, (ii) intends to be bound by its respective faxed signature, (iii) is aware
that the other parties hereto will rely on the faxed signature, and (iv) acknowledges such reliance and waives any defenses to the enforcement of the documents effecting the transaction contemplated by this Agreement based on the fact
that a signature was sent by fax. 
 3.11 Governing Law. This Agreement shall be governed by and construed and enforced
in accordance with the internal laws of the State of New York, without giving effect to its principles or rules of conflict of laws that would require the application of the laws of any other jurisdiction. 

3.12 No Third Party Beneficiaries. Except as provided in Sections 2.6 and 3.3, nothing in this Agreement shall confer any rights
upon any Person other than the parties hereto. 
 3.13 Consent to Jurisdiction. Each party irrevocably submits to the
personal exclusive jurisdiction of the United States District Court for the Southern District of New York for the purposes of any suit, action or other proceeding arising out of this Agreement or any transaction contemplated hereby (and, to the
extent permitted under applicable rules of procedure, agrees not to commence any action, suit or proceeding relating hereto except in such court). Each party further agrees that service of any process, summons, notice or document hand delivered or
sent by registered mail to such party’s respective address set forth in Section 3.4 will be effective service of process for any action, suit or proceeding in New York with respect to any matters to which it has submitted to jurisdiction
as set forth in the immediately preceding sentence. Each party irrevocably and unconditionally waives any objection to the laying of venue of any action, suit or proceeding arising out of this Agreement or the transactions contemplated hereby in the
United States District Court for the Southern District of New York, and 

  
 21 

 
hereby further irrevocably and unconditionally waives and agrees not to plead or claim in such court that any such action, suit or proceeding brought in such court has been brought in an
inconvenient forum. 
 3.14 Waiver of Jury Trial. EACH PARTY HERETO AND EACH PERSON CLAIMING THE BENEFITS OF ANY
PROVISION HEREOF HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY SUIT, ACTION OR PROCEEDING ARISING OUT OF THIS AGREEMENT OR ANY TRANSACTION CONTEMPLATED HEREBY. 

  
 22 

 IN WITNESS WHEREOF, each of the undersigned has executed this Agreement or caused this
Agreement to be executed on its behalf as of the date first written above. 
  

							
	HOMEGROWN NATURALS, INC.
		
	By:	 	        /s/ John Foraker
		 	Name:
		 	Title:
	
	SOLERA PARTNERS, L.P.
		
	By:	 	Solera Capital GP, L.P., as General Partner
		
	By:	 	Solera GP, LLC, as General Partner
			
	 	 	By:	 	        /s/ Molly F. Ashby
		 		 	Name:	 	
		 		 	Title:	 	
	
	SCI PARTNERS, L.P.
		
	By:	 	Solera GP II, LLC, as General Partner
		
	By:	 	        /s/ Molly F. Ashby
		 	Name:
		 	Title:
	
	CONTINUING STOCKHOLDERS

 Schedule A 
 Continuing Stockholders 
  

	
	 Stockholder

 

	 Ann E. Withey

	 Neil Raiff

	 Annie Christopher and Peter Backman, JTWROS

  
 1 

 Homegrown Naturals, Inc. 

Amended and Restated Registration Rights Agreement 
 By execution and delivery of this signature page, the undersigned hereby agrees to become a party to that certain Amended and Restated Registration Rights Agreement attached hereto as Exhibit A
(the “Registration Rights Agreement”) by and among (1) Homegrown Naturals, Inc., a Delaware corporation (the “Company”), (2) Solera Partners, L.P., a Delaware limited partnership, (3) SCI Partners,
L.P., a Delaware limited partnership (collectively with Solera Partners, L.P., “Solera”) and (4) the stockholders identified on Schedule A to the Registration Rights Agreement, dated as of November 14, 2005. The
undersigned is entitled to all of the benefits under and subject to all of the obligations, restrictions and limitations set forth in the Registration Rights Agreement that are applicable to the Continuing Stockholders. Upon acceptance by the
Company, this signature page shall take effect and shall become part of the Registration Rights Agreement and the Registration Rights Agreement, as amended and restated, shall become effective. Capitalized terms not defined herein shall have the
meaning given them in the Registration Rights Agreement. 
 Executed, in counterpart, as of the date set forth below.

  

	
	November 14, 2005
	
	                /s/ Annie Christopher
	Annie Christopher
	
	                /s/ Peter Backman
	Peter Backman

 Counterpart to Amended and Restated Registration Rights Agreement 

  
 2 

 Agreed and Accepted: 
  

			
	HOMEGROWN NATURALS, INC.
		
	By:	 	         /s/ John Foraker

	Name: John Foraker
	Title: Chief Executive Officer
	
	 Date: November 14, 2005

			
	
	SOLERA PARTNERS, L. P.
		
	By:	 	Solera Capital GP, L.P., as General Partner
		
	 By:
	 	Solera GP, LLC, as General Partner

			
		
	By:	 	        /s/ Molly F. Ashby
	Name: Molly F. Ashby
	Title: Chief Executive Officer
	
	Date: November 14, 2005

			
	
	SCI PARTNERS, L. P.
	 By:
	 	Solera II, LLC, as General Partner
		
	By:	 	        /s/ Molly F. Ashby
	 Name: Molly F. Ashby

	 Title: Chief Executive Officer

  

			
		
		  	 Date: November 14, 2005Warrant Agreement

 Exhibit 4.5 
 THESE SECURITIES (INCLUDING THE PREFERRED STOCK AND COMMON STOCK UNDERLYING THESE SECURITIES) HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933 AS AMENDED, OR ANY STATE SECURITIES LAWS. THEY MAY
NOT BE SOLD, OFFERED FOR SALE, PLEDGED, OR HYPOTHECATED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT RELATED THERETO OR AN OPINION OF COUNSEL (WHICH MAY BE COMPANY COUNSEL) REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS
NOT REQUIRED UNDER THE SECURITIES ACT OF 1933 ACT AS AMENDED, OR ANY APPLICABLE STATE SECURITIES LAWS. 
 WARRANT AGREEMENT

 To Purchase Shares of the Series A 2005 Convertible Preferred Stock of 

Annie’s, Inc. 
 Dated as of March 28, 2008 (the “Effective Date”) 
 WHEREAS,
Annie’s, Inc., a Delaware corporation (the “Company”), has entered into a Loan and Security Agreement of even date herewith (the “Loan Agreement”) with Hercules Technology II, L.P., a Delaware limited
partnership (the “Warrantholder”); 
 WHEREAS, the Company desires to grant to Warrantholder, in consideration
for, among other things, the financial accommodations provided for in the Loan Agreement, the right to purchase shares of its Series A 2005 Convertible Preferred Stock pursuant to this Warrant Agreement (the “Warrant”); 

NOW, THEREFORE, in consideration of the Warrantholder executing and delivering the Loan Agreement and providing the financial
accommodations contemplated therein, and in consideration of the mutual covenants and agreements contained herein, the Company and Warrantholder agree as follows: 
 SECTION 1. GRANT OF THE RIGHT TO PURCHASE PREFERRED STOCK. 
 For value
received, the Company hereby grants to the Warrantholder, and the Warrantholder is entitled, upon the terms and subject to the conditions hereinafter set forth, to subscribe for and purchase, from the Company, 65,000 fully paid and non-assessable
shares of the Preferred Stock (as defined below) at a purchase price of $10.00 per share (the “Exercise Price”). The number and Exercise Price of such shares are subject to adjustment as provided in Section 8. As used herein,
the following terms shall have the following meanings: 
 “Act” means the Securities Exchange
Act of 1933, as amended. 

  
 1. 

 “Charter” means the Company’s Articles of Incorporation, Certificate
of Incorporation or other constitutional document, as may be amended from time to time. 
 “Common Stock” means
the Company’s common stock, $0.001 par value per share. 
 “Initial Public Offering” means the initial
underwritten public offering of the Company’s Common Stock pursuant to a registration statement under the Act, which public offering has been declared effective by the Securities and Exchange Commission (“SEC”). 

“Merger Event” means (a) a merger or consolidation involving the Company in which the Company is not the surviving
entity, or in which the outstanding shares of the Company’s capital stock are otherwise converted into or exchanged for shares of capital of another entity; or (b) a merger or consolidation involving the Company in which the Company is the
surviving entity but immediately after which at least 51% of the equity ownership interests of the Company are owned by persons who did not own any equity ownership interests of the Company immediately prior to such transaction. 

“Preferred Stock” means the Series A 2005 Convertible Preferred Stock of the Company and any other stock into or for
which the Series A 2005 Convertible Preferred Stock may be converted or exchanged, and upon and after the occurrence of an event which results in the automatic or voluntary conversion, redemption or retirement of all (but not less than all) of the
outstanding shares of such Preferred Stock, including, without limitation, the consummation of an Initial Public Offering of the Common Stock in which such a conversion occurs, then from and after the date upon which such outstanding shares are so
converted, redeemed or retired, “Preferred Stock” shall mean such Common Stock. 
 “Purchase Price”
means, with respect to any exercise of this Warrant, an amount equal to the Exercise Price as of the relevant time multiplied by the number of shares of Preferred Stock requested to be exercised under this Warrant pursuant to such exercise.

 “Rights Agreement” means that certain Amended and Restated Registration Rights Agreement between the Company
and certain of its shareholders dated November 14, 2005. 
 “Securities” means this Warrant, the Preferred
Stock and the Common Stock issuable upon conversion of the Preferred Stock. 
 “Stockholders’ Agreement”
means the Second Amended and Restated Stockholders’ Agreement as amended and restated on March 28, 2008, by and among the Company, Solera Partners, L.P., SCI Partners, L.P., and the stockholders identified on Schedule A thereto.

 SECTION 2. TERM OF THE WARRANT. 
 Except as otherwise provided for herein, the term of this Warrant and the right to purchase Preferred Stock as granted herein (the “Warrant”) shall commence on the Effective Date and shall be
exercisable for a period ending upon the earliest to occur of (i) ten (10) years from the Effective Date; or (ii) five (5) years after the Initial Public Offering. Notwithstanding

  
 2. 

 
anything herein to the contrary, upon the consummation of a Merger Event where the consideration to the Company is cash, publicly traded securities or a combination of the foregoing, this Warrant
shall be deemed automatically exercised pursuant to Section 3 hereof and will automatically terminate after the deemed exercise of the Warrant contemporaneously with the consummation of the Merger Event, without any action by the holder
of this Warrant. 
 SECTION 3. EXERCISE OF THE PURCHASE RIGHTS. 
 (a) Exercise. The purchase rights set forth in this Warrant are exercisable by the Warrantholder, in whole or in part, at any time, or from time to time, prior to the expiration of the term set
forth in Section 2, by tendering to the Company at its principal office a notice of exercise in the form attached hereto as Exhibit I (the “Notice of Exercise”) and a Joinder Agreement in the form attached hereto as
Exhibit IV, duly completed and executed. Promptly upon receipt of the Notice of Exercise, Joinder Agreement and the payment of the Purchase Price in accordance with the terms set forth below, and in no event later than three (3) days
thereafter, the Company shall issue to the Warrantholder a certificate for the number of shares of Preferred Stock purchased and shall execute the acknowledgment of exercise in the form attached hereto as Exhibit II (the
“Acknowledgment of Exercise”) indicating the number of shares which remain subject to future purchases, if any. 
 The Purchase Price may be paid at the Warrantholder’s election either (i) by cash or check, or (ii) by surrender of all or a portion of the Warrant for shares of Preferred Stock to be
exercised under this Warrant and, if applicable, an amended Warrant representing the remaining number of shares purchasable hereunder, as determined below (“Net Issuance”). If the Warrantholder elects the Net Issuance method, the
Company will issue Preferred Stock in accordance with the following formula: 
 X = Y(A-B) 

A 
  

							
	 Where:
	  	 	X =	  	  	the number of shares of Preferred Stock to be issued to the Warrantholder.
			
		  	 	Y =	  	  	the number of shares of Preferred Stock requested to be exercised under this Warrant.
			
		  	 	A =	  	  	the fair market value of one (1) share of Preferred Stock at the time of issuance of such shares of Preferred Stock.
			
		  	 	B =	  	  	the Exercise Price.

 For purposes of the above calculation, current fair market value of Preferred Stock shall mean with
respect to each share of Preferred Stock: 
 (i) if the exercise is in connection with an Initial Public
Offering, and if the Company’s Registration Statement relating to such Initial Public Offering has been declared effective by the SEC, then the fair market value per share shall be the product of (x) the initial “Price to Public”
of the Common Stock specified in the final prospectus 

  
 3. 

 
with respect to the offering and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such exercise; 

(ii) if the exercise is after, and not in connection with an Initial Public Offering, and: 

(A) if the Common Stock is traded on a securities exchange, the fair market value shall be deemed to be the product of
(x) the average of the closing prices over a five (5) day period ending three days before the day the current fair market value of the securities is being determined and (y) the number of shares of Common Stock into which each share
of Preferred Stock is convertible at the time of such exercise; or 
 (B) if the Common Stock is traded
over-the-counter, the fair market value shall be deemed to be the product of (x) the average of the closing bid and asked prices quoted on the NASDAQ system (or similar system) over the five (5) day period ending three days before the day
the current fair market value of the securities is being determined and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such exercise; or 

(iii) if at any time the Common Stock is not listed on any securities exchange or quoted in the NASDAQ National Market or
the over-the-counter market, the current fair market value of Preferred Stock shall be the product of (x) the highest price per share which the Company could obtain from a willing buyer (not a current employee or director) for shares of Common
Stock sold by the Company, from authorized but unissued shares, as determined in good faith by its Board of Directors and (y) the number of shares of Common Stock into which each share of Preferred Stock is convertible at the time of such
exercise, unless the Company shall become subject to a Merger Event, in which case the fair market value of Preferred Stock shall be deemed to be the per share value received by the holders of the Company’s Preferred Stock on a common
equivalent basis pursuant to such Merger Event. 
 Upon partial exercise by either cash or Net Issuance, the Company shall
promptly issue an amended Warrant representing the remaining number of shares purchasable hereunder. All other terms and conditions of such amended Warrant shall be identical to those contained herein, including, but not limited to the Effective
Date hereof. 
 (b) Exercise Prior to Expiration. To the extent this Warrant is not previously exercised as to all
Preferred Stock subject hereto, and if the fair market value of one share of the Preferred Stock is greater than the Exercise Price then in effect, this Warrant shall be deemed automatically exercised pursuant to Section 3(a) (even if not
surrendered) immediately before its expiration. For purposes of such automatic exercise, the fair market value of one share of the Preferred Stock upon such expiration shall be determined pursuant to Section 3(a). To the extent this Warrant or
any portion thereof is deemed automatically exercised pursuant to this Section 3(b), the Company agrees to promptly notify the Warrantholder of the number of shares of Preferred Stock, if any, the Warrantholder is to receive by reason of such
automatic exercise. 

  
 4. 

 SECTION 4. RESERVATION OF SHARES. 

During the term of this Warrant, the Company will at all times have authorized and reserved a sufficient number of shares of its
Preferred Stock to provide for the exercise of the rights to purchase Preferred Stock as provided for herein, and shall have authorized and reserved a sufficient number of shares of its Common Stock to provide for the conversion of the Preferred
Shares available hereunder. 
 SECTION 5. NO FRACTIONAL SHARES OR SCRIP. 

No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant, but in lieu of such
fractional shares the Company shall make a cash payment therefor upon the basis of the Exercise Price then in effect. 
 SECTION 6.
RIGHTS AS SHAREHOLDER/STOCKHOLDER. 
 As a condition precedent to the Company’s obligation to issue shares upon exercise of
this Warrant, the holder of this Warrant shall execute and deliver to the Company a Joinder Agreement in the form attached hereto as Exhibit IV. 
 SECTION 7. WARRANTHOLDER REGISTRY. 
 The Company shall maintain a registry
showing the name and address of the registered holder of this Warrant. Warrantholder’s initial address, for purposes of such registry, is set forth below Warrantholder’s signature on this Warrant. Warrantholder may change such address by
giving written notice of such changed address to the Company. 
 SECTION 8. ADJUSTMENT RIGHTS. 

The Exercise Price and the number of shares of Preferred Stock purchasable hereunder are subject to adjustment, as follows: 

(a) Merger Event. Subject to the termination provisions contained in Section 2 hereof, if at any time there shall be a Merger Event,
then, as a part of such Merger Event, lawful provision shall be made so that the Warrantholder shall thereafter be entitled to receive, upon exercise of this Warrant, the number of shares of preferred stock or other securities or property of the
successor corporation resulting from such Merger Event that would have been issuable if Warrantholder had exercised this Warrant immediately prior to the Merger Event. In any such case, appropriate adjustment (as determined in good faith by the
Company’s Board of Directors) shall be made in the application of the provisions of this Warrant with respect to the rights and interests of the Warrantholder after the Merger Event to the end that the provisions of this Warrant (including
adjustments of the Exercise Price and number of shares of Preferred Stock purchasable) shall be applicable in their entirety, and to the greatest extent possible. Without limiting the foregoing, in connection with any Merger Event, upon the closing
thereof, the successor or surviving entity shall assume the obligations of this Warrant. 
 (b) Reclassification of Shares.
Except as set forth in Section 8(a), if the Company at any time shall, by combination, reclassification, exchange or subdivision of securities or 

  
 5. 

 
otherwise, change any of the securities as to which purchase rights under this Warrant exist into the same or a different number of securities of any other class or classes, this Warrant shall
thereafter represent the right to acquire such number and kind of securities as would have been issuable as the result of such change with respect to the securities which were subject to the purchase rights under this Warrant immediately prior to
such combination, reclassification, exchange, subdivision or other change. 
 (c) Subdivision or Combination of Shares. If the
Company at any time shall combine or subdivide its Preferred Stock, (i) in the case of a subdivision, the Exercise Price shall be proportionately decreased, and the number of shares of Preferred Stock issuable upon exercise of this Warrant
shall be proportionately increased, or (ii) in the case of a combination, the Exercise Price shall be proportionately increased, and the number of shares of Preferred Stock issuable upon the exercise of this Warrant shall be proportionately
decreased. 
 (d) Stock Dividends. If the Company at any time while this Warrant is outstanding and unexpired shall: 

(i) pay a dividend with respect to the Preferred Stock payable in Preferred Stock, then the Exercise Price shall be
adjusted, from and after the date of determination of stockholders entitled to receive such dividend or distribution, to that price determined by multiplying the Exercise Price in effect immediately prior to such date of determination by a fraction
(A) the numerator of which shall be the total number of shares of Preferred Stock outstanding immediately prior to such dividend or distribution, and (B) the denominator of which shall be the total number of shares of Preferred Stock
outstanding immediately after such dividend or distribution; or 
 (ii) make any other distribution with respect
to Preferred Stock (or stock into which the Preferred Stock is convertible), except any distribution specifically provided for in any other clause of this Section 8, then, in each such case, provision shall be made by the Company such that the
Warrantholder shall receive upon exercise or conversion of this Warrant a proportionate share of any such distribution as though it were the holder of the Preferred Stock (or other stock for which the Preferred Stock is convertible) from the date of
the issuance of this Warrant and as of the record date fixed for the determination of the stockholders of the Company entitled to receive such distribution. For the avoidance of doubt, in no event shall a holder of this Warrant be entitled to a
proportionate distribution of any increase in liquidation preference accrued prior to the date of issuance of this Warrant. 

(e) Antidilution Rights. Additional antidilution rights applicable to the Preferred Stock purchasable hereunder are as set forth in the
Company’s Charter and shall be applicable with respect to the Preferred Stock issuable hereunder. The Company shall promptly provide the Warrantholder with any restatement, amendment, modification or waiver of the Charter; provided, that
no such amendment, modification or waiver shall impair or reduce the antidilution rights applicable to the Preferred Stock as of the date hereof unless such amendment, modification or waiver affects the rights of Warrantholder with respect to the
Preferred Stock in the same manner as it affects all other holders of Preferred Stock. The Company shall provide Warrantholder with prior written notice of any issuance of its stock or other equity security to

  
 6. 

 
occur after the Effective Date of this Warrant, which notice shall include (a) the price at which such stock or security is to be sold, (b) the number of shares to be issued, and
(c) such other information as necessary for Warrantholder to determine if a dilutive event has occurred provided, however that no notice need be given in connection with the exercise of stock options issued to the Company’s
employees, directors or consultants. For the avoidance of doubt, there shall be no duplicate anti-dilution adjustment pursuant to this subsection (e), the foregoing subsection (d) and the Company’s Charter. 

(f) Notice of Adjustments. If: (i) the Company shall declare any dividend or distribution upon its stock, whether in stock, cash,
property or other securities; (ii) the Company shall offer for subscription prorata to the holders of any class of its Preferred Stock or other convertible stock any additional shares of stock of any class or other rights; (iii) there
shall be any Merger Event; (iv) there shall be an Initial Public Offering; (v) the Company shall sell, lease, license or otherwise transfer all or substantially all of its assets; or (vi) there shall be any voluntary dissolution,
liquidation or winding up of the Company; then, in connection with each such event, the Company shall send to the Warrantholder: (A) at least thirty (30) days’ prior written notice of the date on which the books of the Company shall
close or a record shall be taken for such dividend, distribution, subscription rights (specifying the date on which the holders of Preferred Stock shall be entitled thereto) or for determining rights to vote in respect of such Merger Event,
dissolution, liquidation or winding up; (B) in the case of any such Merger Event, sale, lease, license or other transfer of all or substantially all assets, dissolution, liquidation or winding up, at least thirty (30) days’ prior
written notice of the date when the same shall take place (and specifying the date on which the holders of Preferred Stock shall be entitled to exchange their Preferred Stock for securities or other property deliverable upon such Merger Event,
dissolution, liquidation or winding up); and (C) in the case of an Initial Public Offering, the Company shall give the Warrantholder at least thirty (30) days’ written notice prior to the effective date thereof. 

Each such written notice shall set forth, in reasonable detail, (i) the event requiring the notice, and (ii) if any adjustment
is required to be made, (A) the amount of such adjustment, (B) the method by which such adjustment was calculated, (C) the adjusted Exercise Price (if the Exercise Price has been adjusted), and (D) the number of shares subject to
purchase hereunder after giving effect to such adjustment, and shall be given by first class mail, postage prepaid, or by reputable overnight courier with all charges prepaid, addressed to the Warrantholder at the address for Warrantholder set forth
in the registry referred to in Section 7. 
 (g) Timely Notice. Failure to timely provide such notice required by
subsection (f) above shall entitle Warrantholder to retain the benefit of the applicable notice period notwithstanding anything to the contrary contained in any insufficient notice received by Warrantholder. For purposes of this subsection (g),
and notwithstanding anything to the contrary in Section 12(g), the notice period shall begin on the date Warrantholder actually receives a written notice containing all the information required to be provided in such subsection (f). 

SECTION 9. REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE COMPANY. 

  
 7. 

 (a) Reservation of Preferred Stock. The Preferred Stock issuable upon exercise of the
Warrantholder’s rights has been duly and validly reserved and, when issued in accordance with the provisions of this Warrant, will be validly issued, fully paid and non-assessable, and will be free of any taxes, liens, charges or encumbrances
of any nature whatsoever; provided, that the Preferred Stock issuable pursuant to this Warrant may be subject to restrictions on transfer under state and/or federal securities laws. The Company has made available to the Warrantholder true,
correct and complete copies of its Charter and current bylaws. The issuance of certificates for shares of Preferred Stock upon exercise of this Warrant shall be made without charge to the Warrantholder for any issuance tax in respect thereof, or
other cost incurred by the Company in connection with such exercise and the related issuance of shares of Preferred Stock; provided, that the Company shall not be required to pay any tax which may be payable in respect of any transfer and the
issuance and delivery of any certificate in a name other than that of the Warrantholder. 
 (b) Due Authority. The
execution and delivery by the Company of this Warrant and the performance of all obligations of the Company hereunder, including the issuance to Warrantholder of the right to acquire the shares of Preferred Stock and the Common Stock into which it
may be converted, have been duly authorized by all necessary corporate action on the part of the Company. The Loan Agreement and this Warrant: (1) are not inconsistent with the Company’s Charter or current bylaws; (2) do not
contravene any law or governmental rule, regulation or order applicable to it; and (3) do not and will not contravene any provision of, or constitute a default under, any indenture, mortgage, contract or other instrument to which it is a party
or by which it is bound. The Loan Agreement and this Warrant constitute legal, valid and binding agreements of the Company, enforceable in accordance with their respective terms. 

(c) Consents and Approvals. No consent or approval of, giving of notice to, registration with, or taking of any other action in
respect of any state, federal or other governmental authority or agency is required with respect to the execution, delivery and performance by the Company of its obligations under this Warrant, except for the filing of notices pursuant to Regulation
D under the Act and any filing required by applicable state securities law, which filings will be effective by the time required thereby. 
 (d) Issued Securities. All issued and outstanding shares of Common Stock, Preferred Stock or any other securities of the Company have been duly authorized and validly issued and are fully paid and
nonassessable. All outstanding shares of Common Stock, Preferred Stock and any other securities were issued in full compliance with all federal and state securities laws. In addition, as of the date immediately preceding the date of this Warrant:

 (i) The authorized capital of the Company consists of (A) 24,000,000 shares of Common Stock, of which
362,485 shares are issued and outstanding, and (B) 18,802,086 shares of Preferred Stock, of which 6,455,531 shares are designated Blank Check Preferred Stock, none of which is issued and outstanding; 3,802,086 shares are designated Series A
2002 Convertible Preferred Stock, of which 3,802,086 shares are issued and outstanding; 4,806,000 are designated Series A 2004 Convertible Preferred Stock, of which 4,806,000 shares are issued and outstanding; and 3,738,469 shares are designated
Series A 2005 Convertible Preferred Stock, of which 3,673,469 shares are issued and outstanding. 

  
 8. 

 (ii) The Company has reserved 1,500,000 shares of Common Stock for issuance
under its Stock Option Plan(s), under which options to purchase 977,187 shares are outstanding. In addition, a non-plan stock option to purchase 60,000 shares is outstanding. There are no other options, warrants, conversion privileges or other
rights presently outstanding to purchase or otherwise acquire any authorized but unissued shares of the Company’s capital stock or other securities of the Company. The Company has no outstanding loans to any employee, officer or director of the
Company, and the Company agrees not to enter into any such loan or otherwise guarantee the payment of any loan made to an employee, officer or director by a third party. 

(iii) In accordance with the Company’s Charter, no stockholder of the Company has preemptive rights to purchase new
issuances of the Company’s capital stock. 
 (e) Insurance. The Company has in full force and effect insurance
policies, with extended coverage, insuring the Company and its property and business against such losses and risks, and in such amounts, as are customary for corporations engaged in a similar business and similarly situated and as otherwise may be
required pursuant to the terms of any other contract or agreement. 
 (f) Other Commitments to Register Securities.
Except as set forth in this Warrant and the Rights Agreement, the Company is not, pursuant to the terms of any other agreement currently in existence, under any obligation to register under the Act any of its presently outstanding securities or any
of its securities which may hereafter be issued. 
 (g) Exempt Transaction. Subject to the accuracy of the
Warrantholder’s representations in Section 10, the issuance of the Preferred Stock upon exercise of this Warrant, and the issuance of the Common Stock upon conversion of the Preferred Stock, will each constitute a transaction exempt from
(i) the registration requirements of Section 5 of the Act, in reliance upon Section 4(2) thereof, and (ii) the qualification requirements of the applicable state securities laws. 

(h) Compliance with Rule 144. If the Warrantholder proposes to sell Preferred Stock issuable upon the exercise of this Warrant, or
the Common Stock into which it is convertible, in compliance with Rule 144 promulgated by the SEC, then, upon Warrantholder’s written request to the Company, the Company shall furnish to the Warrantholder, within ten days after receipt of such
request, a written statement confirming the Company’s compliance with the filing requirements of the SEC as set forth in such Rule, as such Rule may be amended from time to time. 

(i) Information Rights. During the term of this Warrant, Warrantholder shall be entitled to the information rights contain in
Section 7.1 of the Loan Agreement, and Section 7.1 of the Loan Agreement is hereby incorporated into this Warrant by this reference as though fully set forth herein, provided, however, that after all Indebtedness (as defined in the Loan
Agreement) owed by the Company to Warrantholder as been repaid, the Company shall not be required to deliver a Compliance Certificate or provide the information described in clauses (g)

  
 9. 

 
and (h) of Section 7.1 of the Loan Agreement, unless such information is needed by the Warrantholder to comply with applicable regulatory, accounting or reporting requirements.

 SECTION 10. REPRESENTATIONS AND COVENANTS OF THE WARRANTHOLDER. 

This Warrant has been entered into by the Company in reliance upon the following representations and covenants of the Warrantholder:

 (a) Investment Purpose. This Warrant and the right to acquire Preferred Stock as evidenced by, and set forth in, this Warrant,
is being, and in each of the cases of the Preferred Stock issuable upon exercise of this Warrant and the Common Stock issuable upon conversion of such Preferred Stock will be, acquired for investment and not with a view to the sale or distribution
of any of the Securities, or any part thereof, and the Warrantholder has no present intention of selling or engaging in any public distribution of any of the Securities except pursuant to a registration or exemption. 

(b) Private Issue. The Warrantholder understands (i) that neither 1) this Warrant; 2) the Preferred Stock issuable upon exercise of
this Warrant nor 3) the Common Stock issuable upon conversion of the Preferred Stock, have been registered under the Act or qualified under applicable state securities laws on the ground that this Warrant and the issuances of Preferred Stock and/or
Common Stock contemplated by this Warrant will be exempt from the registration and qualifications requirements thereof, and (ii) that the Company’s reliance on such exemption is predicated on the representations set forth in this
Section 10. 
 (c) Financial Risk. The Warrantholder has such knowledge and experience in financial and business matters as
to be capable of evaluating the merits and risks of its investment, and has the ability to bear the economic risks of its investment. 
 (d) Risk of No Registration. The Warrantholder understands that if the Company does not register with the SEC pursuant to Section 12 of the Securities Exchange Act of 1934 (the “1934
Act”), or file reports pursuant to Section 15(d) of the 1934 Act, or if a registration statement covering the securities under the Act is not in effect when it desires to sell (i) the rights to purchase Preferred Stock pursuant to
this Warrant or (ii) the Preferred Stock issuable upon exercise of the right to purchase, it may be required to hold such securities for an indefinite period. The Warrantholder also understands that any sale of (A) its rights hereunder to
purchase Preferred Stock or (B) Preferred Stock issued or issuable hereunder which might be made by it in reliance upon Rule 144 under the Act may be made only in accordance with the terms and conditions of that Rule. 

(e) Accredited Investor. Warrantholder is an “accredited investor” within the meaning of the Securities and Exchange Rule 501
of Regulation D, as presently in effect. 
 SECTION 11. TRANSFERS. 

Subject to compliance with applicable federal and state securities laws, this Warrant and all rights hereunder are transferable, in whole
or in part, without charge to the holder hereof (except for transfer taxes) upon surrender of this Warrant properly endorsed; provided that, (i) so long as a Loan under the Loan Agreement is outstanding, Warrantholder will not transfer
this 

  
 10.

 
Warrant to a nonaffiliated third party without a corresponding transfer of the Loan issued in connection with the Loan Agreement and (ii) in no event shall any transfer of this Warrant be
made to a competitor of the Company, as determined in good faith by the Company’s Board of Directors. Each taker and holder of this Warrant, by taking or holding the same, consents and agrees that this Warrant, when endorsed in blank, shall be
deemed negotiable, and that the holder hereof, when this Warrant shall have been so endorsed and its transfer recorded on the Company’s books, shall be treated by the Company and all other persons dealing with this Warrant as the absolute owner
hereof for any purpose and as the person entitled to exercise the rights represented by this Warrant. The transfer of this Warrant shall be recorded on the books of the Company upon receipt by the Company of a notice of transfer in the form attached
hereto as Exhibit III (the “Transfer Notice”), at its principal offices and the payment to the Company of all transfer taxes and other governmental charges imposed on such transfer. Until the Company receives such Transfer
Notice, the Company may treat the registered owner hereof as the owner for all purposes. 
 SECTION 12. MISCELLANEOUS. 

(a) Effective Date. The provisions of this Warrant shall be construed and shall be given effect in all respects as if it had been
executed and delivered by the Company on the date hereof. This Warrant shall be binding upon any successors or assigns of the Company. 
 (b) Remedies. In the event of any default hereunder, the non-defaulting party may proceed to protect and enforce its rights either by suit in equity and/or by action at law, including but not limited to
an action for damages as a result of any such default, and/or an action for specific performance for any default where Warrantholder will not have an adequate remedy at law and where damages will not be readily ascertainable. The Company expressly
agrees that it shall not oppose an application by the Warrantholder or any other person entitled to the benefit of this Warrant requiring specific performance of any or all provisions hereof or enjoining the Company from continuing to commit any
such breach of this Warrant. 
 (c) No Impairment of Rights. The Company will not, by amendment of its Charter or through any
other means, avoid or seek to avoid the observance or performance of any of the terms of this Warrant, but will at all times in good faith assist in the carrying out of all such terms and in the taking of all such actions as may be necessary or
appropriate in order to protect the rights of the Warrantholder against impairment. 
 (d) Additional Documents. The Company,
upon execution of this Warrant, shall provide the Warrantholder with certified resolutions with respect to the representations, warranties and covenants set forth in Sections 9(a) through 9(d), 9(f) and 9(g). The Company shall also supply such other
documents as the Warrantholder may from time to time reasonably request. 
 (e) Attorney’s Fees. In any litigation,
arbitration or court proceeding between the Company and the Warrantholder relating hereto, the prevailing party shall be entitled to attorneys’ fees and expenses and all costs of proceedings incurred in enforcing this Warrant. For the purposes
of this Section 12(e), attorneys’ fees shall include without limitation fees incurred in connection with the following: (i) contempt proceedings; (ii) discovery; (iii) any motion, proceeding or other activity of any kind in
connection with an insolvency proceeding; (iv)

  
 11.

 
garnishment, levy, and debtor and third party examinations; and (v) post-judgment motions and proceedings of any kind, including without limitation any activity taken to collect or enforce
any judgment. 
 (f) Severability. In the event any one or more of the provisions of this Warrant shall for any reason be held
invalid, illegal or unenforceable, the remaining provisions of this Warrant shall be unimpaired, and the invalid, illegal or unenforceable provision shall be replaced by a mutually acceptable valid, legal and enforceable provision, which comes
closest to the intention of the parties underlying the invalid, illegal or unenforceable provision. 
 (g) Notices. Except as
otherwise provided herein, any notice, demand, request, consent, approval, declaration, service of process or other communication that is required, contemplated, or permitted under this Warrant or with respect to the subject matter hereof shall be
in writing, and shall be deemed to have been validly served, given, delivered, and received upon the earlier of: (i) the first business day after transmission by facsimile or hand delivery or deposit with an overnight express service or
overnight mail delivery service; or (ii) the third calendar day after deposit in the United States mails, with proper first class postage prepaid (provided, that any Advance Request shall not be deemed received until Lender’s actual
receipt thereof), and shall be addressed to the party to be notified as follows: 
 If to Warrantholder: 

Hercules Technology II, L.P. 
 Legal Department 
 Attention: Chief Legal Officer and Manuel
Henriquez 
 400 Hamilton Avenue, Suite 310 

Palo Alto, CA 94301 
 Facsimile: 650-473-9194 
 Telephone: 650-289-3060 

If to the Company: 
 Annie’s, Inc. 
 Attention: Steven Jackson 

564 Gateway Drive 
 Napa, CA 94558-7517 
 Facsimile: 707-259-0387 

Telephone: 707-254-3700 
 With a copy to: 
 Kirkpatrick & Lockhart Preston Gates
Ellis LLP 
 Attention: Stephen L. Palmer, Esq. 

State Street Financial Center 
 One Lincoln Street 
 Boston, MA 02111-2950 

Facsimile: 617-261-3175 
 Telephone: 617-951-9211 

  
 12.

 or to such other address as each party may designate for itself by like notice. 

(h) Entire Agreement; Amendments. This Warrant constitutes the entire agreement and understanding of the parties hereto in respect of the
subject matter hereof, and supersedes and replaces in their entirety any prior proposals, term sheets, letters, negotiations or other documents or agreements, whether written or oral, with respect to the subject matter hereof (including
Lender’s proposal letter dated January 24, 2008). None of the terms of this Warrant may be amended except by an instrument executed by each of the parties hereto. 
 (i) Headings. The various headings in this Warrant are inserted for convenience only and shall not affect the meaning or interpretation of this Warrant or any provisions hereof. 

(j) Advice of Counsel. Each of the parties represents to each other party hereto that it has discussed (or had an opportunity to discuss)
with its counsel this Warrant and, specifically, the provisions of Sections 12(n), 12(o), 12(p). 12(q) and 12(r). 
 (k) No
Strict Construction. The parties hereto have participated jointly in the negotiation and drafting of this Warrant. In the event an ambiguity or question of intent or interpretation arises, this Warrant shall be construed as if drafted jointly by the
parties hereto and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any provisions of this Warrant. 
 (l) No Waiver. No omission or delay by Warrantholder at any time to enforce any right or remedy reserved to it, or to require performance of any of the terms, covenants or provisions hereof by the Company
at any time designated, shall be a waiver of any such right or remedy to which Warrantholder is entitled, nor shall it in any way affect the right of Warrantholder to enforce such provisions thereafter. 

(m) Survival. All agreements, representations and warranties contained in this Warrant or in any document delivered pursuant hereto shall
be for the benefit of Warrantholder and shall survive the execution and delivery of this Warrant and the expiration or other termination of this Warrant. 
 (n) Governing Law. This Warrant has been negotiated and delivered to Warrantholder in the State of California, and shall have been accepted by Warrantholder in the State of California. Delivery of
Preferred Stock to Warrantholder by the Company under this Warrant is due in the State of California. This Warrant shall be governed by, and construed and enforced in accordance with, the laws of the State of California, excluding conflict of laws
principles that would cause the application of laws of any other jurisdiction. 
 (o) Consent to Jurisdiction and Venue. All
judicial proceedings arising in or under or related to this Warrant may be brought in any state or federal court of competent jurisdiction located in the State of California. By execution and delivery of this Warrant, each party hereto generally and
unconditionally: (a) consents to personal jurisdiction in San Mateo County, State of California; (b) waives any objection as to jurisdiction or venue in San Mateo County, State of California; (c) agrees not to assert any defense based
on lack of jurisdiction or venue in the aforesaid courts; and (d) irrevocably agrees to be bound by any judgment rendered thereby in connection with this Warrant. Service of process on any party hereto in any action arising out of 

  
 13.

 
or relating to this Warrant shall be effective if given in accordance with the requirements for notice set forth in Section 12(g), and shall be deemed effective and received as set forth in
Section 12(g). Nothing herein shall affect the right to serve process in any other manner permitted by law or shall limit the right of either party to bring proceedings in the courts of any other jurisdiction. 

(p) Mutual Waiver of Jury Trial. Because disputes arising in connection with complex financial transactions are most quickly and
economically resolved by an experienced and expert person and the parties wish applicable state and federal laws to apply (rather than arbitration rules), the parties desire that their disputes be resolved by a judge applying such applicable laws.
EACH OF THE COMPANY AND WARRANTHOLDER SPECIFICALLY WAIVES ANY RIGHT IT MAY HAVE TO TRIAL BY JURY OF ANY CAUSE OF ACTION, CLAIM, CROSS-CLAIM, COUNTERCLAIM, THIRD PARTY CLAIM OR ANY OTHER CLAIM (COLLECTIVELY, “CLAIMS”) ASSERTED BY THE
COMPANY AGAINST WARRANTHOLDER OR ITS ASSIGNEE OR BY WARRANTHOLDER OR ITS ASSIGNEE AGAINST THE COMPANY. This waiver extends to all such Claims, including Claims that involve Persons other than Borrower and Lender; Claims that arise out of or are in
any way connected to the relationship between the Company and Warrantholder; and any Claims for damages, breach of contract, specific performance, or any equitable or legal relief of any kind, arising out of this Warrant. 

(q) Arbitration. If the Mutual Waiver of Jury Trial set forth in Section 12(p) is ineffective or unenforceable, the parties agree
that all Claims shall be submitted to binding arbitration in accordance with the commercial arbitration rules of JAMS (the “Rules”), such arbitration to occur before one arbitrator, which arbitrator shall be a retired California state
judge or a retired Federal court judge. Such proceeding shall be conducted in San Francisco County, California, with California rules of evidence and discovery applicable to such arbitration. The decision of the arbitrator shall be binding on the
parties, and shall be final and nonappealable to the maximum extent permitted by law. Any judgement rendered by the arbitrator may be entered in a court of competent jurisdiction and enforced by the prevailing party as a final judgment of such
court. 
 (r) Prearbitration Relief. In the event Claims are to be resolved by arbitration, either party may seek from a court
of competent jurisdiction identified in Section 12(o), any prejudgment order, writ or other relief and have such prejudgment order, writ or other relief enforced to the fullest extent permitted by law notwithstanding that all Claims are
otherwise subject to resolution by binding arbitration. 
 (s) Counterparts. This Warrant and any amendments, waivers, consents
or supplements hereto may be executed in any number of counterparts, and by different parties hereto in separate counterparts, each of which when so delivered shall be deemed an original, but all of which counterparts shall constitute but one and
the same instrument. 
 (t) Specific Performance. The parties hereto hereby declare that it is impossible to measure in money
the damages which will accrue to Warrantholder by reason of the Company’s failure to perform any of the obligations under this Warrant and agree that the terms of this Warrant shall be specifically enforceable by Warrrantholder. If
Warrantholder institutes any 

  
 14.

 
action or proceeding to specifically enforce the provisions hereof, any person against whom such action or proceeding is brought hereby waives the claim or defense therein that Warrantholder has
an adequate remedy at law, and such person shall not offer in any such action or proceeding the claim or defense that such remedy at law exists. 
 [Remainder of Page Intentionally Left Blank] 

  
 15.

 IN WITNESS WHEREOF, the parties hereto have caused this Warrant to be executed by its
officers thereunto duly authorized as of the Effective Date. 
  

											
	 COMPANY:    
	 		 	ANNIE’S, INC.	 	
					
		 		 	By:	 	     /s/ Steven Jackson
	 	
					
		 		 	Title:	 	     CFO
	 	
				
	 Notice Address:
	 		 	Steven Jackson	 	
		 		 	564 Gateway Drive	 	
		 		 	Napa, CA 94558-7517	 	
		 		 	Facsimile: (707) 259-0387	 	
				
	 WARRANTHOLDER:
	 		 	HERCULES TECHNOLOGY II, L.P.,	 	
		 		 	a Delaware limited partnership	 	
					
		 		 	By:	 	Hercules Technology SBIC Management, LLC,	 	
		 		 		 	its General Partner	 	
		 		 	By:	 	Hercules Technology Growth Capital, Inc.,	 	
		 		 		 	its Manager	 	
						
		 		 		 	By:	 	       /s/ K. Nicholas Martitsch
	 	
		 		 		 	Name: K. Nicholas Martitsch	 	
		 		 		 	Its: Associate General Counsel	 	
				
	 Notice Address:
	 		 	Hercules Technology Growth Capital, Inc..	 	
		 		 	Attn: Manuel Henriquez and Chief Legal Officer	 	
		 		 	400 Hamilton Avenue, Suite 310	 	
		 		 	Palo Alto, CA 94301	 	
		 		 	Facsimile: 650-473-9194	 	

  
 16.

 EXHIBIT I 
 NOTICE OF EXERCISE 
  

	To:	[                    ] 

 

	(1)	The undersigned Warrantholder hereby elects to purchase [            ] shares of the Series A 2005
Convertible Preferred Stock of Annie’s, Inc., pursuant to the terms of the Warrant dated the 28th day of March, 2008 (the “Warrant”) between Annie’s, Inc. and the Warrantholder, and [CASH PAYMENT: tenders herewith payment of the
Purchase Price in full, together with all applicable transfer taxes, if any.] [NET ISSUANCE: elects pursuant to Section 3(a) of the Warrant to effect a Net Issuance.] 

 

	(2)	Please issue a certificate or certificates representing said shares of Series A 2005 Convertible Preferred Stock in the name of the undersigned or in such other name as
is specified below. 

  

			
	  
	 	
	 (Name)
	 	
		
	  
	 	
	 (Address)
	 	

  

					
	WARRANTHOLDER:	 	HERCULES TECHNOLOGY II, L.P.,	 	
		 	a Delaware limited partnership	 	
			
	 By:
	 	 Hercules Technology SBIC Management, LLC,
	 	
		 	 its General Partner
	 	
			
	 By:
	 	 Hercules Technology Growth Capital, Inc.,
	 	
		 	 its Manager
	 	
			
		 	
By:                           
                                         
                    
	 	
		 	 Name:
	 	
		 	 Its
	 	

 EXHIBIT II 
 ACKNOWLEDGMENT OF EXERCISE 
 The undersigned
[                    ], hereby acknowledge receipt of the “Notice of Exercise” from Hercules Technology II, L.P. to purchase
[            ] shares of the Series A 2005 Convertible Preferred Stock of Annie’s, Inc., pursuant to the terms of the Warrant, and further acknowledges that
[            ] shares remain subject to purchase under the terms of the Warrant. 
  

			
	 COMPANY:
	  	Annie’s, Inc.
		
		  	By:                            
                                         
       
		
		  	Title:                            
                                         
    
		
		  	Date:                            
                                         
    

 EXHIBIT III 
 TRANSFER NOTICE 
 (To transfer or assign the foregoing Warrant execute this form and supply
required information. Do not use this form to purchase shares.) 
 FOR VALUE RECEIVED, the foregoing Warrant and all rights evidenced thereby
are hereby transferred and assigned to 
  

					
	  
	 	
	(Please Print)	 		 	

							
				
	whose address is	 	  
	 		 	
			
	  
	 		 	

							
				
		 	Dated:	 	  
	 	

							
				
		 	Holder’s Signature:	 	  
	 	

							
				
		 	Holder’s Address:	 	  
	 	

							
			
		 	  
	 	

					
			
	Signature Guaranteed:	 	  
	 	

 NOTE: The signature to this Transfer Notice must correspond with the name as it appears on the face of the Warrant,
without alteration or enlargement or any change whatever. Officers of corporations and those acting in a fiduciary or other representative capacity should file proper evidence of authority to assign the foregoing Warrant. 

 EXHIBIT IV 
 JOINDER AGREEMENT 
 Annie’s, Inc. 

Second Amended and Restated Stockholders’ Agreement 
 By execution and delivery of this signature page, the undersigned hereby agrees to become a party to that certain Second Amended and Restated Stockholders’ Agreement attached hereto as Exhibit
A (the “Stockholders’ Agreement”) by and among (1) Annie’s, Inc., a Delaware corporation (the “Company”), (2) Solera Partners, L.P., a Delaware limited partnership, and (3) SCI Partners,
L.P., a Delaware limited partnership (collectively with Solera Partners, L.P., “Solera”), dated as of March 28, 2008. The undersigned is entitled to all of the benefits under and subject to all of the obligations, restrictions
and limitations set forth in the Stockholders’ Agreement that are applicable to the Continuing Stockholders. Upon acceptance by the Company, this signature page shall take effect and shall become part of the Stockholders’ Agreement and the
Stockholders’ Agreement, as amended and restated, shall become effective. Capitalized terms not defined herein shall have the meaning given them in the Stockholders’ Agreement. 

Executed, in counterpart, as of the date set forth below. 

 

			
	                     ,
20    
	
	[Warrantholder]
	
	By:                           
                                         
                            
	Name:
	Title:
	
	Dated:                      ,
20    

 [Acceptance on following page] 

  
 20.

 Agreed and Accepted: 

 

			
	 ANNIE’S, INC.

	
	
By:                       
                                         
                          

	 Name:  John Foraker

	 Title:  Chief Executive Officer

	
	 Date:                 
    , 20    

 SOLERA PARTNERS, L.P. 
 By: Solera Capital GP, L.P., as General Partner 
  

			
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

		
	 Date:
	 	  

 SCI PARTNERS, L.P. 
 By: Solera GP II, LLC, as General Partner 
  

			
	 By:
	 	  

		
	 Name:
	 	  

		
	 Title:
	 	  

		
	 Date:
	 	  

  
 21.

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