Document:

QuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.1    
  

 
 

PERFICIENT, INC.
  
    CERTIFICATE OF DESIGNATION, RIGHTS AND PREFERENCES
  OF SERIES B PREFERRED STOCK    
  

        Pursuant to Section 151 of the General Corporation Law of the State of Delaware (the "DGCL"), the undersigned, on behalf of
Perficient, Inc. (the "Corporation"), a corporation organized and existing under the DGCL, in accordance with the provisions of Section 103 thereof, DOES HEREBY
CERTIFY:

        That
pursuant to the authority given to the Board of Directors of the Corporation by the Certificate of Incorporation of the Corporation (the "Certificate of Incorporation"), and in
accordance with the provisions of Section 151 of the DGCL, the Board of Directors of the Corporation, as of June 19, 2002, adopted the following resolution creating a series of Preferred
Stock designated as Series B Preferred Stock. 

        RESOLVED that, pursuant to the authority vested in the Board of Directors of the Corporation in accordance with the DGCL and the
provisions of the Certificate of Incorporation, a series of preferred stock, par value $.001 per share, of the Corporation is hereby created and that the designation and number of shares thereof and
the voting powers, preferences and relative, participating, optional and other special rights of the shares of such series, and the qualifications, limitations and restrictions thereof, are as
follows: 

 
 

SERIES B CONVERTIBLE PREFERRED STOCK    
  

        A.1 Designation and Amount. The designation of this series of capital stock shall be "Series B Convertible
Preferred Stock," par value $.001 per share (the "Series B Stock"). The number of shares, powers, terms, conditions, designations, preferences and privileges, relative, participating, optional
and other special rights, and qualifications, limitations and restrictions, if any, of the Series B Stock shall be as set forth herein. The number of authorized shares of the Series B
Stock is 2,777,500. 

        A.2
Ranking. The Corporation's Series B Stock shall rank, as to dividends and upon Liquidation (as defined in Section A.4(b)
hereof), equally with each other series of preferred stock and senior and prior to the common stock, par value $.001, of the Corporation (the "Common Stock"), except as otherwise approved by the
affirmative vote or consent of the holders of shares of Series B Stock pursuant to Section A.5(c) hereof. 

        A.3
Dividend Provisions. 

                Subject
to the terms of this Section A.3, dividends on the Series B Stock shall accrue and be payable only in connection with a  Liquidation or the redemption or
conversion of the Series B Stock as provided for herein and then
at an annual rate per share of Series B Stock equal to the Original Purchase Price multiplied by 8.00% (the "Dividend Payment") from the Closing Date. Any such dividends shall be payable in
Common Stock. No dividends shall be paid on the Common Stock until all accrued Dividend Payments have been paid with respect to the Series B Stock. 

        A.4
Liquidation Rights. 

                A.4(a)
With respect to rights on Liquidation (as defined in Section A.4(b) hereof), the Series B Stock shall rank equally with each other series of preferred
stock of the Corporation and senior and prior to the Corporation's Common Stock, except as otherwise approved by the affirmative vote or consent of the holders of Series B Stock pursuant to
Section A.5(c) hereof. 

                A.4(b)
In the event of any liquidation, dissolution or winding-up of the affairs of the Corporation or an Event of Sale (collectively, a "Liquidation"), the
holders of shares of Series B Stock then outstanding (the "Series B Stockholders") shall be entitled to receive out of the assets of the Corporation legally available for distribution to
its stockholders, whether from capital, surplus or earnings, pari passu with the holders of any other series of preferred stock of the Corporation and 

 

before any payment shall be made to the holders of Common Stock or any other class or series of stock ranking on Liquidation junior to such Series B Stock, an amount per share equal to two
(2) times the Original Purchase Price (as defined in Section A.8 hereof), plus all accrued Dividend Payments. 

                A.4(c)
If, upon any Liquidation, the assets of the Corporation available for distribution to its stockholders shall be insufficient to pay the Series B Stockholders
the full amount as to which each of them shall be entitled, then the Series B Stockholders shall share ratably in any distribution of assets with the holders of Series A Convertible
Preferred Stock of the Corporation, par value $.001 per share (the "Series A Stock"), according to the respective amounts which would be payable to them in respect of the shares held upon such
distribution if all amounts payable on or with respect to such shares were paid in full. For purposes of calculating the amount of any payment to be paid upon any such Liquidation, each share of
Series B Stock and Series A Stock shall be deemed to be that number of shares (including fractional shares) of Common Stock into which it is then convertible, rounded to the nearest
one-tenth of a share. 

                A.4(d)
In the event of any Liquidation, after payments shall have been made first to the Series B Stockholders and to the holders of any other series of preferred
stock of the Corporation and then to the holders of each junior class or series of capital stock (other than Common Stock) of the full amount to which they shall be entitled pursuant to
Section A.4(b), the holders of Common Stock shall be entitled to share ratably in all remaining assets of the Corporation available for distribution to its stockholders. 

                A.4(e)
For purposes of this Section A.4, an "Event of Sale" shall mean (A) the merger or consolidation of the Corporation into or with another corporation,
partnership, limited liability company, joint venture, trust or other entity, or the merger or consolidation of any corporation into or with the Corporation, or (B) the sale or other
disposition of all or substantially all the assets of the Corporation, unless, upon consummation of such merger or consolidation, the holders of voting securities of the Corporation immediately prior
to such transaction continue to own directly or indirectly not less than fifty percent (50%) of the voting power of the surviving corporation. 

        A.5
Voting. 

                A.5(a)
In addition to any other rights provided for herein or by law, the Series B Stockholders shall be entitled to vote, together with the Common Stockholders and
the holders of any other series of preferred stock of the Corporation as one class, on all matters as to which Common Stockholders shall be entitled to vote, in the same manner and with the same
effect as such Common Stockholders. In any such vote, each share of Series B Stock shall entitle the holder thereof to the number of votes per share that equals the number of shares of Common
Stock (including fractional shares) into which each such share of Series B Stock is then convertible, rounded up to the nearest one-tenth of a share. 

                        A.5(b)(i) In
addition to the rights specified in Section A.5(a), the holders of a majority in voting power of the Series B Stock, voting as a
separate class, shall (x) prior to June 25, 2007, have the exclusive right to elect one (1) member of the Board of Directors of the Corporation and (y) on or after
June 25, 2007, have the right with the holders of the Series A Stock, voting together with the holders of the Series A Stock as a single class, by a two-thirds
majority of the total shares of Series A Stock and Series B Stock eligible to vote thereon, to elect such number of the members of the Board of Directors of the Corporation as shall
equal one-half of the members of the Board of Directors (each of the Directors elected pursuant to (x) or (y) above, a "Preferred Director"). In any election of a Preferred
Director
pursuant to this Section A.5(b), each Series B Stockholder shall be entitled to one vote for each share of the Series B Stock held, and no Series B Stockholder shall be
entitled to cumulate its votes by giving one candidate more than one vote per share. In any election of a Preferred Director pursuant to clause (y) of this Section A.5(b)(i), each
Series A Stockholder shall be entitled to one vote for each share of the Series A Stock held, and no Series A Stockholder shall be entitled to cumulate its votes by giving one
candidate more than one vote per share. The exclusive voting right of 

2

 

the Series B Stockholders, contained in clause (x) this Section A.5(b)(i), may be exercised at a special meeting of the Series B Stockholders called as provided in
accordance with the By-laws of the Corporation, at any annual or special meeting of the stockholders of the Corporation, or by written consent of such Series B Stockholders in lieu
of a meeting. The voting right shared by the Series A Stockholders and the Series B Stockholders, contained in clause (y) of this Section A.5(b)(i), may be exercised at a
special meeting of the Series A Stockholders and the Series B Stockholders called as provided in accordance with the By-laws of the Corporation, at any annual or special
meeting of the stockholders of the Corporation, or by written consent of such Series A Stockholders and Series B Stockholders in lieu of a meeting. Any Preferred Director elected
pursuant to this Section A.5(b) shall serve from the date of their election and qualification until their successors have been duly elected and qualified. The rights described herein to elect
members to the Board of Directors shall be without regard to any persons serving on the Board of Directors on the date of this Certificate of Designation. To accommodate the election of the Preferred
Directors as described above, the Corporation shall procure the resignation of such number of directors as shall be necessary, or the number of directors shall be automatically increased, to create
the requisite number of vacancies. 

                        A.5(b)(ii) A
vacancy in the directorship to be elected by the Series B Stockholders may be filled only by a vote at a meeting called in accordance with the
By-laws of the Corporation or written consent in lieu of such meeting of the holders of at least a majority in voting power of such Series B Stock. A vacancy in any directorship to
be elected by the Series B Stockholders and the Series A Stockholders, voting together as a single class, may be filled only by a vote at a meeting called in accordance with the
By-laws of the Corporation or written consent in lieu of such meeting of the holders of at least a majority in voting power of the Series A Stock and the Series B Stock,
voting together as a single class. 

                        A.5(b)(iii) At
the election of the holders of the Series B Stock, voting as a separate class, and in lieu of electing a member of the Board of Directors,
the holders of Series B Stock may elect an observer to the Board of Directors. 

                A.5(c)
The Corporation shall not, without the affirmative approval of the holders of shares representing at least a majority of the voting power of the Series B
Stock then outstanding (determined as set forth in the second sentence of Section A.5(a) hereof), voting separately from the holders of Common Stock or any other securities of the Corporation,
given by written consent in lieu of a meeting or by vote at a meeting called for such purpose, for which meeting or approval by written consent timely and specific notice (a "Notice") shall have been
given to each holder of such Preferred Stock, in the manner provided in the By-laws of the Corporation, take any action that: (i) amends or repeals any provision of the Certificate
of Incorporation if such action would materially and adversely change the rights, preferences or privileges of the Series B Stock, (ii) (A) at any time prior to June 25,
2007, authorizes or issues shares of any class of stock ranking on par with or having any preference or priority as to dividends or liquidation superior to the Series B Stock, or (B) at
any time on or after the fifth
anniversary of the Closing Date, authorizes or issues any shares of any class of stock of the Company or any securities convertible into or exercisable, exchangeable or redeemable for any shares of
any class of stock of the Corporation, whether or not such shares have any preference or priority as to dividends or liquidation equal or superior to the Series B Stock or (iii) provides
for a sale of all or substantially all of the assets of the Corporation, or a merger or consolidation of the Corporation in which the holders of voting securities of the Corporation immediately prior
to such transaction do not continue to own directly or indirectly at least fifty percent (50%) of the voting power of the surviving corporation, but, in the case of clause (iii) of this
Section A.5(c), only if (x) John T. McDonald is not the Chief Executive Officer or Chairman of the Board of the Corporation at the time that the transaction is approved by the Board of
Directors of the Corporation and (y) 2M Companies, Inc. (including its affiliates) owns less than 20% of the Company's equity on a fully diluted basis. 

3

 

        A.6
Conversion. 

                        A.6(a)(i) Any
Series B Stockholder shall have the right (at any time, or from time to time, after Shareholder Approval is obtained) to convert any or all of
its Series B Stock into that number of fully paid and nonassessable shares of Common Stock for each share of Series B Stock so converted equal to the quotient of the Original Purchase
Price for such share divided by the Conversion Price for such share (as defined in Section A.6(d) hereof), as last adjusted and then in effect, rounded up to the nearest one-tenth
of a share; provided, however, that cash shall be paid in lieu of the issuance of fractional shares of Common Stock, as provided in
Section A.6(c)(ii) hereof. 

                        A.6(a)(ii) Any
Series B Stockholder who exercises the right to convert shares of Series B Stock into shares of Common Stock, pursuant to this
Section A.6, shall be entitled to payment of all accrued Dividend Payments with respect to such Series B Stock pursuant to Section A.3 herein, up to and including the Conversion
Date (as defined in Section A.6(b)(ii) hereof). 

                        A.6(b)(i) Any
Series B Stockholder may exercise the right to convert such shares into Common Stock pursuant to this Section A.6 by delivering to the
Corporation during regular business hours, at the office of the Corporation or any transfer agent of the Corporation or at such other place as may be designated by the Corporation, the certificate or
certificates for the shares to be converted (the "Series B Preferred Certificate"), duly endorsed or assigned in blank to the Corporation (if required by it). 

                        A.6(b)(ii) Each
Series B Preferred Certificate shall be accompanied by written notice stating that such holder elects to convert such shares and stating the
name or names (with address) in which the certificate or certificates for the shares of Common Stock (the "Common Certificate") are to be issued. Such conversion shall be deemed to have been effected
on the date when such delivery is made, and such date is referred to herein as the "Conversion Date." 

                        A.6(b)(iii) As
promptly as practicable thereafter, the Corporation shall issue and deliver to or upon the written order of such holder, at the place designated by
such holder, a certificate or certificates for the number of full shares of Common Stock to which such holder is entitled and a check or cash in respect of any fractional interest in any shares of
Common Stock, as provided in Section A.6(c)(ii) hereof, payable with respect to the shares so converted up to and including the Conversion Date. 

                        A.6(b)(iv) The
person in whose name the certificate or certificates for Common Stock are to be issued shall be deemed to have become a holder of record of Common
Stock on the applicable Conversion Date, unless the transfer books of the Corporation are closed on such Conversion Date, in which event the holder shall be deemed to have become the stockholder of
record on the next succeeding date on which the transfer books are open, provided that the Conversion Price shall be that Conversion Price in effect on the Conversion Date. 

                        A.6(b)(v) Upon
conversion of only a portion of the number of shares covered by a Series B Preferred Certificate, the Corporation shall issue and deliver to
or upon the written order of the holder of such Series B Preferred Certificate, at the expense of the Corporation, a new certificate covering the number of shares of the Series B Stock
representing the unconverted portion of the Series B Preferred Certificate, which new certificate shall entitle the holder thereof to all the rights, powers and privileges of a holder of such
shares. 

                        A.6(c)(i) If
a Series B Stockholder shall surrender more than one certificate representing shares of Series B Stock for conversion at any one time,
then the number of full shares of Common Stock issuable upon conversion thereof shall be computed on the basis of the aggregate number of shares of Series B Stock so surrendered. 

4

 

                        A.6(c)(ii) No
fractional shares of Common Stock shall be issued upon conversion of Series B Stock. The Corporation shall pay a cash adjustment for any such
fractional interest in an amount equal to the Current Market Price thereof on the Conversion Date, as determined in accordance with Section A.6(d)(vi) hereof. 

                A.6(d)
For all purposes of this Part A, the "Conversion Price" with respect to the Series B Stock shall be equal to $0.900090009 with respect to each such
share of Series B Stock, subject to adjustment from time to time as follows: 

                        A.6(d)(i) Subject
to Section A.6(d)(ii) below, if the Corporation shall, at any time or from time to time after the Original Issuance Date, issue any
shares of Common Stock (which term, for purposes of this
Section A.6(d)(i) and Section A.6(d)(ii), including all subsections hereof and thereof, shall be deemed to include all other securities convertible into, or exchangeable or
exercisable for, shares of Common Stock (including, but not limited to, Series B Stock) or options to purchase or other rights to subscribe for such convertible or exchangeable securities, in
each case other than Excluded Stock (as hereinafter defined)), for a consideration per share less than the greater of (i) the applicable Conversion Price in effect immediately prior to the
issuance of such Common Stock or other securities and (ii) the Current Market Price of the Common Stock (a "Dilutive Issuance"), the Conversion Price for Series B Stock in effect
immediately prior to each such Dilutive Issuance shall automatically be lowered to a price equal to the price determined in accordance with the following formula: 

A.
For issuances at less than the Conversion Price in effect immediately prior to the issuance of such securities: 

	C1 = C0 ×	 	N0 + [(N+ × $) / C0]
 N1

B.
For issuances at less than the Current Market Price: 

	C1 = C0 ×	 	[(N0 × CMP) + N+ [$ + CMP(Permitted Dilution %)]] / N1
 CMP

In
each case, where: 

C1        =
adjusted Conversion Price;

C0        = current Conversion Price;

N0        = number of shares of Common Stock outstanding prior to the issuance;

N1        = number of shares of Common Stock outstanding immediately after issuance;

N+        = number of shares of Common Stock issued in the dilutive issuance;

$          = consideration per share received in the dilutive issuance;

CMP    = Current Market Price per share of Common Stock; and

Permitted Dilution % = for issuances in 2002, 35%; in 2003, 20%; in 2004 and after, 10%; provided, however, that Permitted Dilution % shall be 0% for
all shares issued after the issuance of shares having an aggregate Current Market Price in excess of $5,000,000 in 2002 and $10,000,000 in 2003, taking into account (i) all dilutive issuances
for which adjustments are required under this Section (f)(2) and Section f(3) and (ii) all issuances to employees, consultants or directors for which an adjustment is required
under this Section. 

Such
adjustment shall be made successively whenever such an issuance is made. No adjustment pursuant to this Section A.6(d)(i) shall increase the Conversion Price. 

                                A.6(d)(i)(A)
In the case of the issuance of Common Stock in whole or in part for cash, the consideration shall be deemed to be the amount of cash paid therefor after
deducting therefrom any discounts, commissions or other expenses allowed, paid or incurred by the Corporation 

5

 

for any underwriting or otherwise in connection with the issuance and sale thereof, plus the value of any property other than cash received by the Corporation, determined as provided in
Section A.6(d)(i)(B) hereof, plus the value of any other consideration received by the Corporation determined as set forth in Section A.6(d)(i)(C) hereof. 

                                A.6(d)(i)(B)
In the case of the issuance of Common Stock for a consideration in whole or in part in property other than cash, the value of such property other than cash
shall be deemed to be the fair market value of such property as determined in good faith by the Board of Directors, irrespective of any accounting treatment; provided,
however, that such fair market value of such property as determined by the Board of Directors shall not exceed the aggregate Current Market Price (as defined in
Section A.6(d)(vii) hereof) of the shares of Common Stock or such other securities being issued, less any cash consideration paid for such shares, determined as provided in
Section A.6(d)(i)(A) hereof and less any other consideration received by the Corporation for such shares, determined as set forth in Section A.6(d)(i)(C) hereof. 

                                A.6(d)(i)(C)
In the case of the issuance of Common Stock for consideration in whole or in part other than cash or property, the value of such other consideration shall be
deemed to be the fair market value of such property as determined in good faith by the Board of Directors, irrespective of any accounting treatment; provided, however,  that such fair market value of
such consideration other than cash or property as determined by the Board of Directors shall not exceed the aggregate Current Market Price of the
shares of Common Stock or such other securities being issued, less any cash
consideration paid for such shares, determined as provided in Section A.6(d)(i)(A) hereof and less any consideration in property other than cash received by the Corporation for such shares,
determined as set forth in Section A.6(d)(i)(B) hereof. 

                                A.6(d)(i)(D)
In the case of the issuance of options or other rights to purchase or subscribe for Common Stock or the issuance of securities by their terms convertible into
or exchangeable or exercisable for Common Stock or options to purchase or other rights to subscribe for such convertible or exchangeable or exercisable securities: 

                                        A.6
(d)(i)(D)(1)
The aggregate maximum number of shares of Common Stock deliverable upon exercise of such options to purchase or rights to subscribe for Common Stock shall
be deemed to have been issued at the time such options or rights were issued and for a consideration equal to the consideration (determined in the manner provided in Sections A.6(d)(i)(A),
(B) and (C) hereof), if any, received by the Corporation upon the issuance of such options or rights plus the minimum purchase price provided in such options or rights for the Common
Stock covered thereby (the consideration in each case to be determined in the manner provided in Sections A.6(d)(i)(A), (B) and (C) hereof); 

                                        A.6
(d)(i)(D)(2)
the aggregate maximum number of shares of Common Stock deliverable upon conversion of, or in exchange for, any such convertible or exchangeable securities
or upon the exercise of options to purchase or rights to subscribe for such convertible or exchangeable securities and subsequent conversion or exchange thereof shall be deemed to have been issued at
the time such securities were issued or such options or rights were issued and for a consideration equal to the consideration received by the Corporation for any such securities and related options or
rights (excluding any cash received on account of accrued interest or accrued dividends), plus the minimum additional consideration, if any, to be received by the Corporation upon the conversion or
exchange of such securities or the exercise of any related options or rights (the consideration in each case to be determined in the manner provided in Sections A.6(d)(i)(A), (B) and
(C) hereof); 

                                        A.6
(d)(i)(D)(3)
If there is any change in the exercise price of, or number of shares deliverable upon exercise of, any such options or rights or upon the conversion or
exchange of any such convertible or exchangeable securities (other than a change resulting from the antidilution 

6

 

provisions thereof), then the Conversion Price shall automatically be readjusted in proportion to such change; and 

                                        A.6
(d)(i)(D)(4)
Upon the expiration of any such options or rights or the termination of any such rights to convert or exchange such convertible or exchangeable securities,
the Conversion Price shall be automatically readjusted to the Conversion Price that would have obtained had such options, rights or convertible or exchangeable securities not been issued. 

                        A.6(d)(ii) "Excluded
Stock" shall mean: 

                                A.6(d)(ii)(A)
Series B Stock authorized hereunder or Shares of Common Stock issued upon conversion of any shares of Series A Stock or Series B Stock; 

                                A.6(d)(ii)(B)
Common Stock issued or issuable to officers, directors or employees of or consultants or independent contractors to the Corporation, pursuant to any written
agreement, plan or arrangement, to purchase, or rights to subscribe for, such Common Stock, including Common Stock issued under the 1999 Employee Stock Purchase/Stock Option Plan, as approved by a
majority of the members of the Board of Directors of the Corporation, provided, that in order to qualify as Excluded Stock (i) any issuance of Common Stock to officers, directors or employees,
or their affiliates, for consideration other than cash equal to the fair market value of such Common Stock shall have been approved by each director elected by the holders of Series B Stock,
and (ii) that the price payable for any Common Stock issuable pursuant to any stock option, warrant or other right to subscribe for Common Stock shall be equal to or greater than the Current
Market Price of the Common Stock on the date such stock option, warrant or other right is granted; 

                                A.6(d)(ii)(C)
Common Stock issued as a stock dividend payable in shares of Common Stock, or capital stock of any class issuable upon any subdivision, recombination,
split-up or reverse stock split of all the outstanding shares of such class of capital stock; 

                                A.6(d)(ii)(D)
Common Stock issued upon the exercise of any options, warrants or securities convertible into Common Stock that are outstanding on the Closing Date; 

                                A.6(d)(ii)(E)
Common Stock issued upon the exercise of the Common Stock Purchase Warrants issued in connection with the purchase and sale of the Series B Stock and
the Series A Stock; and 

                                A.6(d)(ii)(F)
Common Stock or other securities issued in connection with any merger, acquisition or similar transaction approved by a majority of the members of the Board
of Directors of the Corporation, whether before or after the Closing Date. 

                                A.6(d)(ii)(G)
Common Stock or other securities issued in connection with any firm commitment underwritten public offering. 

                        A.6(d)(iii) If
the number of shares of Common Stock outstanding at any time after the Original Issuance Date (as hereinafter defined) is increased by a stock
dividend payable in shares of Common Stock or by a subdivision or split-up of shares of Common Stock, then, following the record date fixed for the determination of holders of Common Stock
entitled to receive such stock dividend, subdivision
or split-up, the Conversion Price shall be appropriately decreased so that the number of shares of Common Stock issuable on conversion of each share of Series B Stock shall be
increased in proportion to such increase in outstanding shares. 

                        A.6(d)(iv) If,
at any time after the Original Issuance Date, the number of shares of Common Stock outstanding is decreased by a combination of the outstanding
shares of Common Stock, then, following the record date for such combination, the Conversion Price shall be appropriately increased so that the number of shares of Common Stock issuable on conversion
of each share of Series B Stock shall be decreased in proportion to such decrease in outstanding shares. 

7

 

                        A.6(d)(v) All
calculations under this Section A.6(d) shall be made to the nearest one-tenth of a cent ($.001) or to the nearest
one-tenth of a share, as the case may be. 

                        A.6(d)(vi) For
the purpose of any computation pursuant to Section A.6(d), the Current Market Price at any date of one share of Common Stock shall be
determined as follows: 

        (1)  If
the Common Stock is listed on a national securities exchange or admitted to unlisted trading privileges on such exchange or listed for trading on the Nasdaq National
Market or the Nasdaq SmallCap Market or any exchange, the Current Market Price shall be the last reported sale price of the Common Stock on such exchange or market on the last business day prior to
the date of computation or if no such sale is made on such day, the average closing bid and asked prices for such day on such exchange or market; or 

        (2)  If
the Common Stock is not so listed or admitted to unlisted trading privileges, but is traded on the NASD Bulletin Board, the Current Market Price shall be the average
of the closing bid and asked prices for such day on such market and if the Common Stock is not so traded, the Current Market Price shall be the mean of the last reported bid and asked prices reported
by the National Quotation Bureau, Inc. on the last business day prior to the date of computation; or 

        (3)  If
the Common Stock is not so listed or admitted to unlisted trading privileges and bid and asked prices are not so reported, the Current Market Price shall be the fair
market value of the Common Stock as reasonably determined by the Board of Directors of the Company acting in good faith, but not less than the book value thereof as at the end of the most recent
fiscal quarter of the Company ending prior to the relevant date. 

                        A.6(d)(vii)
In any case in which the provisions of this Section A.6(d) shall require that an adjustment shall become effective immediately after a record date for
an event, the Corporation may defer until the occurrence of such event (A) issuing to the holder of any shares of Series B Stock converted after such record date and before the
occurrence of such event the additional shares of capital stock issuable upon such conversion by reason of the adjustment required by such event over and above the shares of capital stock issuable
upon such conversion before giving effect to such adjustment, and (B) paying to such holder any cash amounts in lieu of fractional shares pursuant to Section A.6(c)(ii) hereof;  provided, however, that the Corporation shall deliver to such holder a due bill or other appropriate instrument evidencing such holder's right to
receive such additional shares, and such cash, upon the occurrence of the event requiring such adjustment. 

                        A.6(d)(viii) If
a state of facts shall occur that, without being specifically controlled by the provisions of this Section A.6, would not fairly protect the
conversion rights of the holders of the Series B Stock in accordance with the essential intent and principles of such provisions, then the Board of Directors shall make an adjustment in the
application of such provisions, in accordance with such essential intent and principles, so as to protect such conversion rights. 

                A.6(e)
Whenever the Conversion Price shall be adjusted as provided in Section A.6(d) hereof, the Corporation shall forthwith file and keep on record at the office of
the Secretary of the Corporation and at the office of the transfer agent for the Series B Stock or at such other place as may be designated by the Corporation, a statement, signed by its
President or Chief Executive Officer and by its Treasurer or Chief Financial Officer, showing in detail the facts requiring such adjustment and the Conversion Price that shall be in effect after such
adjustment. The Corporation shall also cause a copy of such statement to be sent by first-class, certified mail, return receipt requested, postage prepaid, to each Series B Stockholder at such
holder's address appearing on the Corporation's records. Where appropriate, such copy shall be given in advance of any such adjustment and shall be included as part of a notice required to be mailed
under the provisions of Section A.6(f) hereof. 

8

 

                A.6(f)
In the event the Corporation shall propose to take any action of the types described in Section A.6(d)(i), (ii), (iii) or (iv) hereof, or any
other Event of Sale, the Corporation shall give notice to each Series B Stockholder in the manner set forth in Section A.6(e) hereof, which notice shall specify the record date, if any,
with respect to any such action and the date on which such action is to take place. Such notice shall also set forth such facts with respect thereto as shall be reasonably necessary to indicate the
effect of such action (to the extent such effect may be known at the date of such notice) on the Conversion Price with respect to the Series B Stock, and the number, kind or class of shares or
other securities or property which shall be deliverable or purchasable upon each conversion of Series B Stock. In the case of any action that would require the fixing of a record date, such
notice shall be given at least 10 days prior to the record date so fixed, and in the case of any other action, such notice shall be given at least 20 days prior to the taking of such
proposed action. 

                A.6(g)
The Corporation shall pay all documentary, stamp or other transactional taxes attributable to the issuance or delivery of shares of capital stock of the Corporation
upon conversion of any shares of
Series B Stock; provided, however, that the Corporation shall not be required to pay any taxes which may be payable in respect of any transfer
involved in the issuance or delivery of any certificate for such shares in a name other than that of the Series B Stockholder in respect of which such shares of Series B Stock are being
issued. 

                A.6(h)
The Corporation shall reserve out of its authorized but unissued shares of Common Stock solely for the purpose of effecting the conversion of the Series B
Stock sufficient shares of Common Stock to provide for the conversion of all outstanding shares of Series B Stock. 

                A.6(i) All
shares of Common Stock which may be issued in connection with the conversion provisions set forth herein will, upon issuance by the Corporation, be
validly issued, fully paid and nonassessable, not subject to any preemptive or similar rights and free from all taxes, liens or charges with respect thereto created or imposed by the Corporation. 

                A.6(j)
In the event that (i) the closing price of Common Stock on the Nasdaq SmallCap Market or any exchange on which the Common Stock trades (as adjusted for any
stock dividend, split-up, combination or reclassification) is over $3.00 for any twenty (20) consecutive trading days (provided that, there is an average trading volume during such
period of at least 50,000 shares of Common Stock per trading day), or (ii) holders of shares representing at least fifty percent (50%) of the voting power of the Series B Stock then
outstanding (determined as set forth in the second sentence of Section A.5(a)) approve of the automatic conversion of each share of Series B Stock into Common Stock, each share of
Series B Stock then outstanding shall, without any action on the part of the holder thereof, be deemed automatically converted into Common Stock in accordance with the provisions of
Section A.6(a)(i) and all rights and obligations relating to the Series B Stock shall terminate immediately other than the right to receive Common Stock on the conversion thereof
and such shares of Series B Stock shall no longer be deemed to be outstanding, whether or not the certificates representing the Series B Stock have been received by the Corporation. 

        A.7  Redemption

                        A.7(a)(i) At
the request of the holder or holders of a majority of the shares of Series B Stock then outstanding (individually, a "Requesting Holder" and,
collectively, the "Requesting Holders") made at any time after June 25, 2007, the Corporation may, at the discretion of the Board of Directors of the Corporation, redeem on the applicable
Redemption Date (as such term is defined in Section A.7(c) hereof), unless such a redemption is otherwise prevented by law, all or any portion of the Series B Stock, at a redemption
price per share equal to the Original Purchase Price for such Series B Stock plus accrued Dividend Payments thereon. 

                        A.7(a)(ii) At
the request of any Requesting Holder made at any time after September 30, 2002 or, if the Proxy Statement becomes subject to SEC review,
November 30, 2002, the 

9

 

Corporation shall, if by such date it has not obtained the Shareholder Approval and unless such a redemption is otherwise prevented by applicable law, redeem on the applicable Redemption Date such
shares of the Series B Stock requested to be redeemed by each Requesting Holder pursuant to this section A.7(a)(ii) at a redemption price per share equal to the Original Purchase
Price for such Series B Stock plus interest on the amount of the Original Purchase Price and any accrued but unpaid Dividend Payments thereon from and including the Closing Date through and
including such Redemption Date at a per annum rate of 12%, compounded annually (based on a 360-day year). 

                        A.7(a)(iii) Each
Requesting Holder who desires to have any of the Series B Stock owned of record by such Requesting Holder redeemed shall specify in a
written notice to the Corporation the number of shares which the Requesting Holder elects to redeem (a "Redemption Notice"), in accordance with Section A.7(c) hereof. The total sum payable per
share of Series B Stock on any Redemption Date is hereinafter referred to as the "Redemption Price," and the payment to be made on such Redemption Date is hereinafter referred to as the
"Redemption Payment." 

                A.7(b)
On and after any Redemption Date, all rights of the Requesting Holders with respect to those shares of Series B Stock being redeemed by the Corporation
pursuant to Section A.7(a)(i) or A.7(a)(ii), as applicable, except the right to receive the Redemption Price per share of Series B Stock as hereinafter provided, shall cease and
terminate, and such shares of Series B Stock shall no longer be deemed to be outstanding, whether or not the certificates representing such shares have been received by the Corporation;  provided, however, that, notwithstanding anything to the contrary set forth herein, (A) if the Corporation defaults in the payment of the
Redemption Payment, the rights of the Requesting Holder with respect to such shares of Series B Stock not yet redeemed shall continue until the Corporation cures such default, and
(B) without limiting any other rights of a Requesting Holder, upon the occurrence of a subsequent Liquidation or Event of Sale, with respect to the shares of Series B Stock in respect of
which no Redemption Payment has been received by a Requesting Holder, such Requesting Holder shall be accorded the rights and benefits set forth in Section A.4 hereof in respect of such
remaining shares, as if no prior redemption request had been made with respect to such remaining shares. The Corporation shall use reasonable efforts to, as expeditiously as possible, eliminate, or
obtain an exception, waiver or exemption from, any and all restrictions that prevent the Corporation from paying each Requesting Holder the Redemption Payment and redeeming all of the Series B
Stock requested to be redeemed by such Requesting Holders; provided, that if all of the Series B Stock requested to be redeemed by such
Requesting Holders is not redeemed on the applicable Redemption Date, then at any time thereafter when additional funds of the Corporation are available by law to redeem shares of Series B
Stock, such funds shall be used immediately to redeem the balance of such shares, or such portion thereof for which funds are available until all such shares are redeemed. 

                A.7(c)
Each Requesting Holder shall send its Redemption Notice pursuant to this Section A.7 by first-class, certified mail, return receipt requested, postage
prepaid, to the Corporation at its principal place of business or to any transfer agent of the Corporation. Within ten (10) business days of receipt of a Redemption Notice and, with respect to
a redemption in accordance with section A.7(a)(i) hereof, if the Board of Directors determines to effect a redemption of the Series B Stock in accordance with
section A.7(a)(i) hereof, the Corporation shall notify in writing all other Series B Stockholders of the redemption proposed by the Corporation (the "Corporation Notice"). If any
other Series B Stockholder desires to have redeemed all or any portion of the Series B Stock owned of record by such Series B
Stockholder, each such Series B Stockholder shall send a Redemption Notice to the Corporation postmarked within five (5) business days after the receipt of the Corporation Notice, and
such Series B Stockholder shall be deemed to be a Requesting Holder. On the thirtieth (30th) business day following the date upon which the Corporation received the first Redemption Notice from
a Requesting Holder, if the shares are to be redeemed, the Corporation shall pay each Requesting Holder the applicable Redemption Price pursuant to the terms of 

10

 

Section A.7(a)(i) or Section A.7(a)(ii), as applicable, provided that the Corporation or its transfer agent has received the certificate(s) representing the shares of
Series B Stock to be redeemed. Any such payment date shall be referred to herein as a "Redemption Date". 

        A.8  Definitions. As used in Section A of this Certificate of Designation, the following terms shall have the corresponding
meanings: 

        "Closing
Date" shall mean June 26, 2002. 

        "Original
Issuance Date" with respect to any share of Series B Stock shall mean the date of first issuance by the Corporation of a share of Series B Stock. 

        "Original
Purchase Price" shall mean, with respect to the Series B Stock, $0.900090009 per share, subject, for all purposes other than Section A.7 hereof (which provisions
shall be applied in accordance with their own terms), to Proportional Adjustment. 

        "Proportional
Adjustment" shall mean an adjustment made to the price of the Series B Stock upon the occurrence of a stock split, reverse stock split, stock dividend, stock
combination, reclassification or other similar change with respect to such security, such that the price of one share of the Series B Stock before the occurrence of any such change shall equal
the aggregate price of the share (or shares or fractional share) of such security (or any other security) received by the holder of the Series B Stock with respect thereto upon the
effectiveness of such change. 

        "Proxy
Statement" shall have the meaning given to such term in the Purchase Agreement. 

        "Purchase
Agreement" shall mean the Convertible Preferred Stock Purchase Agreement, dated June 25, 2002, among the Corporation and the persons listed on Schedule 1 thereto. 

        "SEC"
shall mean the Securities and Exchange Commission. 

        "Series A
Stock" shall mean the preferred stock of the Corporation, $.001 par value per share, designated the "Series A Convertible Preferred Stock" by the Corporation. 

        "Series A
Stockholder" shall mean a holder of the Series A Stock. 

        "Shareholder
Approval" shall mean the requisite approval by the holders of the Common Stock of the Corporation of the transactions contemplated by the Purchase Agreement, including the
issuance of a portion of the Series B Stock, the authorization and issuance of the Warrants, the issuance of a portion of the Corporation's Common Stock contemplated under the terms of the
Series B Stock and the Warrants (including authorization of additional shares of Common Stock, if necessary), any other required amendments to the Company's Certificate of Incorporation and any
required amendments to the Certificate of Designation, Rights and Preferences of Series A Preferred Stock at a meeting of the Stockholders of the Corporation to be held following the date of
this Certificate of Designation. 

        IN WITNESS WHEREOF, the undersigned has caused this Certificate of Designation to be duly executed on behalf of the Corporation as of
June 19, 2002. 

	 	 	PERFICIENT, INC.
	

 	
 	

By:	

/s/  JOHN T. MCDONALD      
 John T. McDonald
 Chief Executive Officer, President

11

QuickLinks

Exhibit 4.1

PERFICIENT, INC. CERTIFICATE OF DESIGNATION, RIGHTS AND PREFERENCES OF SERIES B PREFERRED STOCK

SERIES B CONVERTIBLE PREFERRED STOCKQuickLinks
 -- Click here to rapidly navigate through this document

 
 

Exhibit 4.2    
  

        THIS
WARRANT AND THE SHARES ISSUABLE UPON THE EXERCISE OF THIS WARRANT, HAVE BEEN ACQUIRED SOLELY FOR INVESTMENT AND HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED
(THE "ACT"), OR ANY STATE SECURITIES LAWS. SUCH SECURITIES MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE ABSENCE OF SUCH REGISTRATION OR AN OPINION OF
COUNSEL SATISFACTORY TO THE COMPANY AND ITS COUNSEL THAT SUCH SALE, OFFER, PLEDGE OR HYPOTHECATION IS EXEMPT FROM THE REGISTRATION AND PROSPECTUS DELIVERY REQUIREMENTS OF THE ACT AND OF ANY APPLICABLE
STATE SECURITIES LAWS. 

        Void
after 5:00 p.m. Central Standard Time on                 ,           

Warrant to Purchase Shares of Common Stock 

 
 

WARRANT TO PURCHASE COMMON STOCK
  
    OF
  
    PERFICIENT, INC.    
  

        This is to Certify that, FOR VALUE RECEIVED,
[                        ], or assigns ("Holder"), is entitled to purchase, subject to the provisions
of this Warrant, from Perficient, Inc., a Delaware corporation (the "Company"), [            ] shares of fully paid, validly issued and nonassessable Common Stock,
par value $0.001 per share, of the Company ("Common Stock") at a price of $2.00 per share, at any time or from time to time during the period beginning on the date hereof to
                 ,        , but not later than 5:00 p.m., Central Standard Time,
on                ,            . The number of shares of Common
Stock to be received upon the exercise of this Warrant and the price to be paid for each share of Common Stock may be adjusted from time to time as hereinafter set forth. The shares of Common Stock
deliverable upon such exercise, and as adjusted from time to time, are hereinafter sometimes referred to as "Warrant Shares" and the exercise price of a share of Common Stock in effect at any time and
as adjusted from time to time is hereinafter sometimes referred to as the "Exercise Price." 

	(a)
	EXERCISE
OF WARRANT 

        (1)  This
Warrant may be exercised in whole or in part at any time or from time to time on or after the date hereof, unless and to the extent that it has been redeemed
pursuant to Section (j) hereof, and until 5:00 p.m., Central Standard Time, on                 ,        (the
"Exercise Period"), provided, however, that
(i) if either such day is a day on which banking institutions in the State of Texas are authorized by law to close, then on the next succeeding day which shall not be such a day, and
(ii) in the event of any merger, consolidation or sale of all or substantially all the assets of the Company as an entirety, resulting in any distribution to the Company's stockholders, prior
to                 ,        , the Holder shall have the right to exercise this Warrant, commencing at such time
through                 ,
        , into the kind and amount of shares of stock and other securities and property (including cash) receivable by a holder of the number of shares of Common Stock into which this Warrant
might have been exercisable immediately prior thereto. This Warrant may be exercised by presentation and surrender hereof to the Company at its principal office, or at the office of its stock transfer
agent, with the Purchase Form annexed hereto duly executed and accompanied by payment of the Exercise Price for the number of Warrant Shares specified in such form. As soon as practicable after each
such exercise of the warrants, but not later than seven (7) days from the date of such exercise, the Company shall issue and deliver to the Holder a certificate or certificates for the Warrant
Shares issuable upon such exercise, registered in the name of the Holder or its designee. If this Warrant should be exercised in part only, the Company shall, upon surrender of this Warrant for
cancellation, execute and deliver a new Warrant evidencing the rights of the Holder thereof to purchase the balance of the Warrant Shares purchasable thereunder. Upon receipt by the Company of this
Warrant at its office, or by the stock 

 

transfer agent of the Company at its office, in proper form for exercise, the Holder shall be deemed to be the holder of record of the shares of Common Stock issuable upon such exercise,
notwithstanding that the stock transfer books of the Company shall then be closed or that certificates representing such shares of Common Stock shall not then be physically delivered to the Holder. 

        (2)  At
any time during the Exercise Period, the Holder may, at its option, exchange this Warrant, in whole or in part (a "Warrant Exchange"), into the number of Warrant
Shares determined in accordance with this Section (a)(2), by surrendering this Warrant at the principal office of the Company or at the office of its stock transfer agent, accompanied by a
notice stating such Holder's intent to effect such exchange, the number of Warrant Shares to be exchanged and the date on which the Holder requests that such Warrant Exchange occur (the "Notice of
Exchange"). The Warrant Exchange shall take place on the date specified in the Notice of Exchange or, if later, the date the Notice of Exchange is received by the Company (the "Exchange Date").
Certificates for the shares issuable upon such Warrant Exchange and, if applicable, a new warrant of like tenor evidencing the balance of the shares remaining subject to this Warrant, shall be issued
as of the Exchange Date and delivered to the Holder within seven (7) days following the Exchange Date. In connection with any Warrant Exchange, this Warrant shall represent the right to
subscribe for and acquire the number of Warrant Shares (rounded to the next highest integer) equal to (i) the number of Warrant Shares specified by the Holder in its Notice of Exchange (the
"Total Number") less (ii) the number of Warrant Shares equal to the quotient
obtained by dividing (A) the product of the Total Number and the existing Exercise Price by (B) the Current Market Value of a share of Common Stock. Current Market Value shall have the
meaning set forth in Section (c) below, except that for purposes hereof, the date of exercise, as used in such Section (c), shall mean the Exchange Date. 

        (b)  RESERVATION
OF SHARES. The Company shall at all times reserve for issuance and/or delivery upon exercise of this Warrant such number of shares of its Common Stock as
shall be required for issuance and delivery of Warrant Shares upon exercise of the Warrants. Upon issuance, the Warrant Shares shall be validly issued, fully paid and non-assessable. 

        (c)  FRACTIONAL
SHARES. No fractional shares or scrip representing fractional shares shall be issued upon the exercise of this Warrant. With respect to any fraction of a
share called for upon any exercise hereof, the Company shall pay to the Holder an amount in cash equal to such fraction multiplied by the Current Market Value of a share, determined as follows: 

        (1)      If
the Common Stock is listed on a national securities exchange or admitted to unlisted trading privileges on such exchange or listed for trading on the
Nasdaq National Market, the Current Market Value shall be the last reported sale price of the Common Stock on such exchange or market on the last business day prior to the date of exercise of this
Warrant or if no such sale is made on such day, the average closing bid and asked prices for such day on such exchange or market; or 

        (2)      If
the Common Stock is not so listed or admitted to unlisted trading privileges, but is traded on the Nasdaq SmallCap Market, the Current Market Value
shall be the average of the closing bid and asked prices for such day on such market and if the Common Stock is not so traded, the Current Market Value shall be the mean of the last reported bid and
asked prices reported by the National Quotation Bureau, Inc. on the last business day prior to the date of the exercise of this Warrant; or 

        (3)      If
the Common Stock is not so listed or admitted to unlisted trading privileges and bid and asked prices are not so reported, the Current Market Value
shall be the fair market value of the Common Stock as reasonably determined by the Board of Directors of the Company acting in 

2

 

good faith, but not less than the book value thereof as at the end of the most recent fiscal quarter of the Company ending prior to the date of the exercise of the Warrant. 

        (d)  EXCHANGE,
TRANSFER, ASSIGNMENT OR LOSS OF WARRANT. This Warrant is exchangeable, without expense, at the option of the Holder, upon presentation and surrender hereof to
the Company or at the office of its stock transfer agent, for other warrants of different denominations entitling the holder thereof to purchase in the aggregate the same number of shares of Common
Stock purchasable hereunder. Upon surrender of this Warrant to the Company at its principal office or at the office of its stock transfer agent with the Assignment Form annexed hereto duly executed
and funds
sufficient to pay any transfer tax, the Company shall, without charge, execute and deliver a new Warrant in the name of the assignee or assignees named in such instrument of assignment and this
Warrant shall promptly be canceled. This Warrant may be divided or combined with other warrants which carry the same rights upon presentation hereof at the principal office of the Company or at the
office of its stock transfer agent together with a written notice specifying the names and denominations in which new Warrants are to be issued and signed by the Holder hereof. The term "Warrant" as
used herein includes any Warrants into which this Warrant may be divided or exchanged. Upon receipt by the Company of evidence satisfactory to it of the loss, theft, destruction or mutilation of this
Warrant, and (in the case of loss, theft or destruction) of reasonably satisfactory indemnification, and upon surrender and cancellation of this Warrant, if mutilated, the Company will execute and
deliver a new Warrant of like tenor and date. Any such new Warrant executed and delivered shall constitute an additional contractual obligation on the part of the Company, whether or not this Warrant
so lost, stolen, destroyed or mutilated shall be at any time enforceable by anyone. 

        (e)  RIGHTS
OF THE HOLDER. The Holder shall not, by virtue hereof, be entitled to any rights of a shareholder in the Company, either at law or equity, and the rights of the
Holder are limited to those expressed in the Warrant and are not enforceable against the Company except to the extent set forth herein. 

        (f)    ANTI-DILUTION
PROVISIONS. The Exercise Price in effect at any time and the number and kind of securities purchasable upon the exercise of the Warrants shall
be subject to adjustment from time to time upon the happening of certain events as follows: 

        (1)      In
case the Company shall (i) declare a dividend or make a distribution on its outstanding shares of Common Stock in shares of Common Stock,
(ii) subdivide or reclassify its outstanding shares of Common Stock into a greater number of shares, or (iii) combine or reclassify its outstanding shares of Common Stock into a smaller
number of shares, the Exercise Price in effect at the time of the record date for such dividend or distribution or of the effective date of such subdivision, combination or reclassification shall be
adjusted so that it shall equal the price determined by multiplying the Exercise Price by a fraction, the denominator of which shall be the number of shares of Common Stock outstanding after giving
effect to such action, and the numerator of which shall be the number of shares of Common Stock outstanding immediately prior to such action. Such adjustment shall be made successively whenever any
event listed above shall occur. 

        (2)      In
case the Company shall issue shares of its Common Stock (excluding (i) shares issued upon exercise of options and warrants outstanding as of the
date hereof, including this Warrant, (ii) Common Stock issued to employees, consultants or directors in accordance with equity-based compensation plans approved by the Board of Directors,
provided that any such issuance of Common Stock for consideration other than cash equal to or greater than the Current Market Value of the Common Stock shall have been approved by the designee to the
Board of Directors elected by the holders of the Series B Preferred Stock of the Company, and provided, further, that the price payable for any such Common Stock issuable pursuant to any stock
option, warrant or other right to subscribe for Common Stock issued to employees, consultants or 

3

 

directors shall be equal to or greater than the Current Market Value of a share of Common Stock on the date such instrument is granted, (iii) common stock or other securities offered and sold
in a firm commitment underwritten public offering, or (iv) Common Stock issued in connection with acquisitions approved by the Board of Directors) for a consideration per share (the "Offering
Price") less than the greater of (i) the Current Market Value of the Common Stock and (ii) the Exercise Price in effect immediately prior to the issuance of such securities, the Exercise
Price shall be reduced immediately thereafter to an amount calculated in accordance with the following formulae: 

A.
For issuances at less than the Exercise Price in effect immediately prior to the issuance of such securities: 

	E1 = E0 × 	 	N0 + [(N+ × $) / E0]
 N1

B.
For issuances at less than the Current Market Value: 

	E1 = E0 × 	 	[(N0 × CMV) + N+[$ + CMV(Permitted Dilution %)]] /N1
 CMV

In
each case, where: 

E1
= adjusted Exercise Price;

E0 = current Exercise Price;

N0 = number of shares of Common Stock outstanding prior to the issuance;

N1 = number of shares of Common Stock outstanding immediately after issuance;

N+ = number of shares of Common Stock issued in the dilutive issuance;

$    = consideration per share received in the dilutive issuance;

CMV = Current Market Value per share of Common Stock; and

Permitted Dilution % = [for issuances in 2002, 35%; in 2003, 20%; in 2004 and after, 10%; provided, however, that Permitted Dilution % shall
be 0% for all shares issued with an aggregate Current Market Value in excess of $5,000,000 in 2002 and $10,000,000 in 2003], taking into account (i) all dilutive issuances for which
adjustments are required under this Section (f)(2) and Section f(3) and (ii) all issuances to employees, consultants or directors for which an adjustment is required under this
section. 

Such
adjustment shall be made successively whenever such an issuance is made. No adjustment pursuant to this Section f(2) shall increase the Exercise Price. 

        (3)      In
case the Company shall issue any securities convertible into or exercisable or exchangeable for its Common Stock (excluding any such securities which
are issued to employees, consultants or directors in accordance with equity-based compensation plans approved by the Board of Directors, provided that
the price payable for any such Common Stock issuable pursuant to any stock option, warrant or other right to subscribe for Common Stock issued to employees, consultants or directors shall be equal to
or greater than the Current Market Value of a share of Common Stock on the date such instrument is granted) for a consideration per share of Common Stock (the "Exchange Price") initially deliverable
upon conversion or exchange of such securities (determined as provided in Subsection (4) below) less than the greater of (i) the Current Market Value of a share of Common Stock at the
time such securities are issued and (ii) the current Exercise Price in effect immediately prior to the issuance of such securities, the Exercise Price 

4

 

shall be reduced immediately thereafter to an amount calculated in accordance with the following formulae: 

A.
For issuances at an Exchange Price less than the Exercise Price in effect immediately prior to the issuance of such securities: 

	E1 = E0 × 	 	N0 + $1 / E0 + (N+ × $2) / E0
 N1

B.
For issuances at an Exchange Price less than the Current Market Value: 

	E1 = E0 × 	 	[(N0 × CMV) + $1 + N+[$2 + CMV(Permitted Dilution %)]] / N1
 CMV

In
each case, where: 

E1
= adjusted Exercise Price;

E0 = existing Exercise Price;

N0 = number of shares of Common Stock outstanding prior to the issuance;

N1 = number of shares of Common Stock outstanding immediately after issuance, assuming full conversion or exchange of the issued security;

N+ = maximum number of shares of Common Stock issuable upon conversion or exchange of the issued security;

$1 = aggregate consideration received upon issuance of the convertible or exchangeable securities;

$2 = minimum consideration per share to be received upon conversion or exchange of the issued security;

CMV = Current Market Value per share of Common Stock; and

Permitted Dilution % = [for issuances in 2002, 35%; in 2003, 20%; in 2004 and after, 10%; provided, however, that Permitted Dilution % shall
be 0% for all shares issued with an aggregate Current Market Value in excess of $5,000,000 in 2002 and $10,000,000 in 2003], taking into account (i) all dilutive issuances for which
adjustments are required pursuant to Section f(2) and Section f(3) and (ii) all issuances to employees, consultants or directors for which an adjustment is required under this
section. 

Such
adjustment shall be made successively whenever such an issuance is made. No adjustment pursuant to this Section f(3) shall increase the Exchange Price. 

        (4)      For
purposes of any computation respecting consideration received pursuant to Subsections (2) and (3) above, the following shall apply: 

        (A)      in
the case of the issuance of shares of Common Stock for cash, the consideration shall be the amount of such cash, provided that in no case shall any
deduction be made for any commissions,
discounts or other expenses incurred by the Company for any underwriting of the issue or otherwise in connection therewith; 

        (B)      in
the case of the issuance of shares of Common Stock for a consideration in whole or in part other than cash, the consideration other than cash shall be
deemed to be the fair market value thereof as reasonably determined in good faith by the Board of Directors of the Company (irrespective of the accounting treatment thereof); and 

        (C)      in
the case of the issuance of securities convertible into or exercisable lor exchangeable for shares of Common Stock, the aggregate consideration received
therefor shall be deemed to be the consideration received by the Company for the issuance of such securities plus the additional 

5

 

minimum consideration, if any, to be received by the Company upon the conversion or exchange thereof (the consideration in each case to be determined in the same manner as provided in clauses
(A) and (B) of this Subsection (4)). 

        (D)      The
number of shares of Common Stock outstanding shall include all shares issuable upon the exercise or conversion of any options, warrants, notes, debt
instruments, preferred stock or other security, instrument or right convertible or exchangeable for Common Stock of the Company, whether or not such convertible instrument or security is fully vested,
currently exercisable or convertible and whether or not the exercise price or conversion price is below the Exercise Price or Current Market Value at the time of the calculation. 

        (5)      Whenever
the Exercise Price payable upon exercise of this Warrant is adjusted pursuant to Subsections (1), (2) and (3) above, the number of
Warrant Shares purchasable upon exercise of this Warrant shall simultaneously be adjusted by multiplying the number of Warrant Shares initially issuable upon exercise of this Warrant by the Exercise
Price in effect on the date hereof and dividing the product so obtained by the Exercise Price, as adjusted. 

        (6)      No
adjustment in the Exercise Price shall be required unless such adjustment would require an increase or decrease of at least one cent ($0.01) in such
price; provided, however, that any adjustments which by reason of this Subsection (6) are not required to be made shall be carried forward and taken into account in any subsequent adjustment
required to be made hereunder. All calculations under this Section (f) shall be made to the nearest cent or to the nearest one-hundredth of a share, as the case may be. 

        (7)      Whenever
the Exercise Price is adjusted, as herein provided, the Company shall promptly, but no later than 10 days after any request for such an
adjustment by the Holder, cause a notice setting forth the adjusted Exercise Price and adjusted number of Warrant Shares issuable upon exercise of each Warrant, and, if requested, information
describing the transactions giving rise to such adjustments, to
be mailed to the Holders at their last addresses appearing in the Warrant Register, and shall cause a certified copy thereof to be mailed to its transfer agent. The Company may retain a firm of
independent certified public accountants selected by the Board of Directors (who may be the regular accountants employed by the Company) to make any computation required by this Section (f),
and a certificate signed by such firm, absent errors, shall be conclusive evidence of the correctness of such adjustment. 

        (8)      Irrespective
of any adjustments in the Exercise Price or the number or kind of shares purchasable upon exercise of this Warrant, Warrants theretofore or
thereafter issued may continue to express the same price and number and kind of shares as are stated in the similar Warrants initially issuable pursuant to this Agreement. 

        (g)  OFFICER'S
CERTIFICATE. Whenever the Exercise Price is adjusted, as herein provided, the Company shall forthwith file in the custody of its Secretary or an Assistant
Secretary at its principal office and with its stock transfer agent, an officer's certificate showing the adjusted Exercise Price determined as herein provided, setting forth in reasonable detail the
facts requiring such adjustment, including a statement of the number of additional shares of Common Stock, if any, and such other facts as shall be necessary to show the reason for and the manner of
computing such adjustment. Each such officer's certificate shall be made available at all reasonable times for inspection by the Holder or any holder of a Warrant executed and delivered pursuant to
Section (a) and the Company shall, forthwith after each such adjustment, mail a copy by certified mail of such certificate to the Holder or any such holder. 

        (h)  NOTICES
TO WARRANT HOLDERS. So long as this Warrant shall be outstanding, (i) if the Company shall pay any dividend or make any distribution upon the Common Stock
or (ii) if the Company shall offer to the holders of Common Stock for subscription or purchase by them any share 

6

 

of any class or any other rights or (iii) if any capital reorganization of the Company, reclassification of the capital stock of the Company, consolidation or merger of the Company with or
into another corporation, sale, lease or transfer of all or substantially all of the property and assets of the Company to another corporation, or voluntary or involuntary dissolution, liquidation or
winding up of the Company shall be effected, then in any such case, the Company shall cause to be mailed by certified mail to the Holder, at least thirty days prior the date specified in (x) or
(y) below, as the case may be, a notice containing a brief description of the proposed action and stating the date on which (x) a record is to be taken for the purpose of such dividend,
distribution or rights, or (y) such reclassification, reorganization, consolidation, merger, conveyance, lease, dissolution, liquidation or winding up is to take place and the date, if any is
to be fixed, as of which the holders of Common Stock or other securities shall receive cash or other property deliverable upon such reclassification, reorganization, consolidation, merger, conveyance,
dissolution, liquidation or winding up. 

        (i)    RECLASSIFICATION,
REORGANIZATION OR MERGER. In case of any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the Company,
or in the case of any consolidation or merger of the Company with or into another corporation (other than a merger with a subsidiary in which merger the Company is the continuing corporation and which
does not result
in any reclassification, capital reorganization or other change of outstanding shares of Common Stock of the class issuable upon exercise of this Warrant) or in the case of any sale, lease or
conveyance to another corporation of the property of the Company as an entirety, the Company shall, as a condition precedent to such transaction, cause effective provisions to be made so that the
Holder shall have the right thereafter by exercising this Warrant at any time prior to the expiration of the Warrant, to purchase the kind and amount of shares of stock and other securities and
property receivable upon such reclassification, capital reorganization and other change, consolidation, merger, sale or conveyance by a holder of the number of shares of Common Stock which might have
been purchased upon exercise of this Warrant immediately prior to such reclassification, change, consolidation, merger, sale or conveyance. Any such provision shall include provision for adjustments
which shall be as nearly equivalent as may be practicable to the adjustments provided for in this Warrant. The foregoing provisions of this Section (i) shall similarly apply to successive
reclassifications, capital reorganizations and changes of shares of Common Stock and to successive consolidations, mergers, sales or conveyances. In the event that in connection with any such capital
reorganization or reclassification, consolidation, merger, sale or conveyance, additional shares of Common Stock shall be issued in exchange, conversion, substitution or payment, in whole or in part,
for security of the Company other than Common Stock, any such issue shall be treated as an issue of Common Stock covered by the provisions of Subsection (1) of Section (f) hereof. 

        (j)    REDEMPTION.
In the event that the closing price of Common Stock on the Nasdaq SmallCap Market (as adjusted for any stock dividend, split-up, combination or
reclassification) is over $5.00 for any twenty (20) consecutive trading days (provided that, there is an average trading volume during such period of at least 50,000 shares of Common Stock per
trading day), the Company may redeem this Warrant upon 60 days' written notice to the Holder, which notice shall set forth the date for such redemption (the "Redemption Date"). On and after the
Redemption Date, upon the surrender of this Warrant, the Company shall issue to the Holder a number of shares of Common Stock equal to the number that would have been issued if the Holder had tendered
the Warrant pursuant to a Warrant Exchange on the Redemption Date (the "Redemption Shares"). All rights of the Holder with respect to this Warrant shall cease and terminate on and after the Redemption
Date, except for the right to receive the Redemption Shares, and this Warrant shall no longer be deemed to be outstanding, whether or not this Warrant has been returned to the Company. 

        (k)  NOTICES.
Except as otherwise provided herein, all notices, requests, consents and other communications hereunder shall be deemed to be sufficient if contained in a
written instrument delivered in person or duly sent by first class registered, certified or overnight mail, postage prepaid, or 

7

 

telecopied with a confirmation copy by regular mail, addressed or telecopied, as the case may be, to the appropriate party at the address or telecopier number, as the case may be, set forth below or
such other address or telecopier number, as the case may be, as may hereafter be designated in writing by the addressee to the addressor: 

	(i)
	if
to the Corporation, to: 

Perficient, Inc.

7600-B North Capital of Texas Highway

Suite 340

Austin, Texas 78731

Attention: [John T. McDonald, Chief Executive Officer]

Telecopier: (512) 531-6100 

	(ii)
	if
to a Holder, to such Holder's address set forth in the record books of the Corporation or of the Corporation's stock transfer agent. 

        (k)  GOVERNING
LAW. This Warrant shall be governed by and construed in accordance with the laws of the State of Delaware, excluding choice of law rules thereof. 

        (l)    HEADINGS.
The headings of the various sections of this Warrant have been inserted for convenience of reference only and shall not be deemed a part of this Warrant. 

        (m)  SUCCESSORS
AND ASSIGNS. Except as otherwise expressly provided herein, this Warrant shall bind and inure to the benefit of the Company and the Holder and the respective
permitted successors and assigns of the Holder and the permitted successors and assigns of the Company. 

        (n)  SEVERABILITY.
Any provision of this Warrant that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such
prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such
provision in any other jurisdiction. 

        IN
WITNESS WHEREOF, the undersigned has duly executed this Warrant on behalf of the Company as of                 , 2002. 

PERFICIENT, INC.

By:

    

    Name:

    Title: 

8

 
 
 

PURCHASE FORM    
  

        Dated                        ,
            

        The
undersigned hereby irrevocably elects to exercise the within Warrant to the extent of purchasing            shares of Common Stock and hereby makes payment
of            in
payment of the actual price thereof. 

 
 

INSTRUCTIONS FOR REGISTRATION OF STOCK    
  

	Name	 	 	 	 
	 	 	
 (Please typewrite or print in block letters)	 	 
	

Address:	
 	

 	
 	

 
	 	 	
	 	 
	

Signature	
 	

 	
 	

 
	 	 	
	 	 

9

 
 
 

ASSIGNMENT FORM    
  

        FOR VALUE RECEIVED,                        hereby sells, assigns
and transfers unto 

	Name	 	
	 	 
	(Please typewrite or print in block letters)	 	 
	

Address	
 	

	
 	

 
	the right to purchase Common Stock represented by this Warrant to the extent of            shares as to which such right is exercisable and does hereby irrevocably
constitute and appoint            as attorney, to transfer the same on the books of the Company with full power of substitution in the premises.
	

Date	
 	

____________________ , _____________	
 	

 
	

Signature	
 	

	
 	

 

10

QuickLinks

Exhibit 4.2

WARRANT TO PURCHASE COMMON STOCK OF PERFICIENT, INC.

PURCHASE FORM

INSTRUCTIONS FOR REGISTRATION OF STOCK

ASSIGNMENT FORM

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00041-of-00352.parquet"}]]