Document:

exv4w6

Exhibit
4.6

EXECUTION COPY

SERIES D WARRANT AGREEMENT

Dated as of August 27, 2009

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	1.	 	ISSUANCE	 	 	1	 
	2.	 	DEFINITIONS AND INTERPRETATION	 	 	1	 
	 	 	2.1
	 	Definitions	 	 	1	 
	 	 	2.2
	 	Interpretations	 	 	7	 
	3.	 	EXERCISE OF WARRANT	 	 	7	 
	 	 	3.1
	 	Exercise	 	 	7	 
	 	 	3.2
	 	Manner of Exercise	 	 	7	 
	 	 	3.3
	 	Payment of Charges	 	 	9	 
	 	 	3.4
	 	Fractional Shares	 	 	9	 
	4.	 	TRANSFER, DIVISION AND COMBINATION	 	 	9	 
	 	 	4.1
	 	Transfer	 	 	9	 
	 	 	4.2
	 	Division and Combination	 	 	9	 
	 	 	4.3
	 	Expenses	 	 	10	 
	 	 	4.4
	 	Maintenance of Books	 	 	10	 
	5.	 	EXERCISE PRICE; ANTIDILUTION PROVISIONS	 	 	10	 
	 	 	5.1
	 	Exercise Price.	 	 	10	 
	 	 	5.2
	 	Adjustments; Exceptions	 	 	10	 
	 	 	5.3
	 	Effect on Exercise Price of Certain Events	 	 	12	 
	 	 	5.4
	 	Notices	 	 	15	 
	6.	 	NO IMPAIRMENT	 	 	15	 
	7.	 	RESERVATION AND AUTHORIZATION OF COMMON STOCK;
REGISTRATION WITH OR APPROVAL OF ANY
GOVERNMENTAL AUTHORITY	 	 	15	 
	8.	 	NOTICE OF CORPORATE ACTIONS; TAKING OF RECORD; TRANSFER BOOKS	 	 	16	 
	 	 	8.1
	 	Notices of Corporate Actions	 	 	16	 
	 	 	8.2
	 	Taking of Record	 	 	17	 
	 	 	8.3
	 	Closing of Transfer Books	 	 	17	 
	9.	 	TRANSFER RESTRICTIONS; LEGENDS	 	 	17	 
	 	 	9.1
	 	Restrictions on Transfer and Entry
into Shareholders Agreement and
Registration Rights Agreement
	 	 	17	 
	 	 	9.2
	 	Legends	 	 	17	 
	10.	 	LOSS OR MUTILATION	 	 	19	 
	11.	 	OFFICE OF THE COMPANY	 	 	19	 
	12.	 	FINANCIAL AND BUSINESS INFORMATION	 	 	19	 
	 	 	12.1
	 	Deliveries	 	 	19	 
	 	 	12.2
	 	Financial Statements	 	 	21	 

 

 

	 	 	 	 	 	 	 	 	 
	13.	 	REPRESENTATIONS AND WARRANTIES	 	 	21	 
	 	 	13.1
	 	Holders	 	 	21	 
	 	 	13.2
	 	Company	 	 	21	 
	14.	 	MISCELLANEOUS	 	 	22	 
	 	 	14.1
	 	Nonwaiver	 	 	22	 
	 	 	14.2
	 	Notice Generally	 	 	22	 
	 	 	14.3
	 	Indemnification	 	 	22	 
	 	 	14.4
	 	Limitation of Liability; No Stockholder Rights	 	 	23	 
	 	 	14.5
	 	Remedies	 	 	23	 
	 	 	14.6
	 	Successors and Assigns	 	 	23	 
	 	 	14.7
	 	Amendment	 	 	23	 
	 	 	14.8
	 	Severability	 	 	23	 
	 	 	14.9
	 	Governing Law; Jurisdiction	 	 	23	 
	 
	Exhibits	 	 	 	 	 	 
	 
	Exhibit A	 	Form of Warrant Certificate	 	 	 	 

 

 

SERIES D WARRANT AGREEMENT

XStream Systems, Inc.

          THIS SERIES D WARRANT AGREEMENT (this “Agreement”) is entered into as of this 27th
day of August, 2009, between XStream Systems, Inc., a Delaware corporation (the “Company”), and the
Holders from time to time of the Warrants (as defined below) created hereunder.

          WHEREAS, in connection with the issuance and sale of its Series D Preferred Stock pursuant to
the terms and conditions of the Series D Purchase Agreement, dated as of the date of this Agreement
(the “Series D Purchase Agreement”), by and among the Company and the investors set forth therein
(the “Series D Investors”), the Company has agreed to issue the Warrants (as defined below) on the
terms set forth in this Agreement.

          NOW, THEREFORE, in consideration of the foregoing, the parties hereto hereby agree as follows:

1. ISSUANCE

          The Company shall issue and deliver a certificate or certificates substantially in the form of
Exhibit A hereto (the “Warrant Certificates”) evidencing warrants (the “Warrants”) to
purchase an aggregate of 2,100,000 shares of Common Stock at the per share exercise price specified
in Section 5 on the terms and conditions set forth in this Agreement. Each Warrant
Certificate shall be dated the date of issuance. An officer shall sign each Warrant Certificate by
manual or facsimile signature. All Warrants shall at all times be identical as to terms and
conditions and Expiration Date, except as to the number of shares of Common Stock for which they
may be exercised.

2. DEFINITIONS AND INTERPRETATION

     2.1 Definitions.
As used in this Agreement, the following terms have the respective meanings set forth below:

          “Agreed Rate” means the base rate on corporate loans posted by at least 75% of the thirty
largest banks in the United States, as reported in the Money Rates section of The Wall Street
Journal.

          “Agreement” shall have the meaning set forth in the preamble.

          “Amended Series B Designation” means the Amended Certificate of Designation relating to the
Series B Preferred Stock filed with the Secretary of State of Delaware in connection with the
closing under the Series D Purchase Agreement, as may be amended from time to time.

          “Amended Series C Designation” means the Amended Certificate of Designation relating to the
Series C Preferred Stock filed with the Secretary of State of Delaware

 

 

in connection with the
closing under the Series D Purchase Agreement, as may be amended from time to time.

          “Board” means the board of directors of the Company.

          “Book Value” per share of Common Stock as of a date specified herein means the consolidated
book value of the Company and its Subsidiaries as of such date divided by the number of shares of
Common Stock Outstanding on such date. Such book value shall be determined in accordance with
GAAP.

          “Business Day” means any day that is not a Saturday, Sunday or other day on which commercial
banks in New York City or the State of Florida are authorized or required by law to close.

          “By-laws” means the Amended and Restated By-laws of the Company as currently in effect on the
date of this Agreement.

          “Catalyst” means Catalyst Capital Investments LLC, a Delaware limited liability company.

          “Catalyst Letter Agreements” means, collectively, (a) that certain letter agreement dated as
of May 31, 2006 between Catalyst and the Company regarding the introduction of prospective
suppliers, (b) that certain letter agreement dated as of May 31, 2006 between Catalyst and the
Company regarding the introduction of prospective customers, (c) that certain Consulting Agreement
dated as of May 1, 2007 between Catalyst and the Company and (d) such amendments to the foregoing
or other agreements between Catalyst and the Company as may be approved by a majority of the Board
(including at least one of the Investor Directors).

          “Certificate of Incorporation” means the Certificate of Incorporation of the Company, as
amended to date (after giving effect to the filing of the Second Amended Series A Designation, the
Amended Series B Designation, the Amended Series C Designation and the Series D Certificate of
Designation with the Delaware Secretary of State), and as may be further amended or restated from
time to time.

          “Common Deemed Outstanding” means, at any given time, the number of shares of Common Stock
Outstanding at such time, plus the number of shares of Common Stock deemed to be outstanding
pursuant to Sections 5.3(a) and 5.3(b) whether or not the Options or Convertible
Securities are actually convertible or exercisable at such time.

          “Common Equivalent Basis” means, as of the date of such determination, the number of shares of
Common Stock that each holder of Preferred Stock would be entitled to receive upon conversion of
such holder’s Preferred Stock into Common Stock.

          “Common Stock” means (except where the context otherwise indicates) the common stock of the
Company, par value $.0001 per share, as constituted on the Original Issue
Date, and any capital stock into which such Common Stock may thereafter be changed, and shall
also include (i) capital stock of the Company of any other class (regardless of how denominated)

2

 

issued to the holders of shares of any Common Stock upon any reclassification thereof which is also
not preferred as to dividends or liquidation over any other class of stock of the Company and which
is not subject to redemption and (ii) shares of common stock of any successor or acquiring
corporation received by or distributed to the holders of Common Stock of the Company under the
circumstances contemplated by Section 5.3(j).

          “Company” shall have the meaning set forth in the preamble.

          “Company Default” means (a) the breach of any warranty or the inaccuracy at the time when made
of any representation made by the Company herein or (b) the failure by the Company to comply with
any covenant of the Company contained herein.

          “Conversion Common Shares” means (i) the Common Stock issued or issuable upon conversion of
the Preferred Stock and (ii) any Common Stock issued or issuable with respect to the securities
referred to in clause (i) above by way of stock dividend or stock split or in connection with a
combination of shares, recapitalization, merger, consolidation or other reincorporation. As to any
particular Conversion Common Shares, such shares shall cease to be Conversion Common Shares when
they have been (x) effectively registered under the Securities Act and disposed of in accordance
with the registration statement covering them, (y) distributed to the public through a broker,
dealer or market maker pursuant to Rule 144 under the Securities Act or any comparable rule under
any similar federal statute then in force or (z) repurchased by the Company.

          “Convertible Securities” means any stock or securities directly or indirectly convertible into
or exchangeable for Common Stock.

          “Current Market Price” means as of any specified date the average of the daily market prices
of the Common Stock of the Company for the twenty (20) consecutive Business Days immediately
preceding such date. The “daily market price” for each such Business Day shall be: (i) if the
Common Stock is then listed on a national securities exchange, the last sale price, regular way, on
such day on the principal stock exchange on which such Common Stock is then listed or admitted to
trading, or, if no such sale takes place on such day, the average of the closing bid and asked
prices for the Common Stock on such day as reported on such stock exchange or (ii) if the Common
Stock is not then listed or admitted to trading on any national securities exchange but is traded
over-the-counter, the average of the closing bid and asked prices for the Common Stock as reported
on NASDAQ or the Electronic Bulletin Board or in the National Daily Quotation Sheets, as
applicable.

          “Designated Office” shall have the meaning set forth in Section 11.

          “Exercise Date” shall have the meaning set forth in Section 3.2(a).

          “Exercise Notice” shall have the meaning set forth in Section 3.2(a).

          “Exercise Price” shall have the meaning specified in Section 5.1.

          “Expiration Date” means the tenth (10th) anniversary of the Original Issue Date.

3

 

          “First Closing Date” means March 14, 2007.

          “GAAP” means generally accepted accounting principles in the United States of America as from
time to time in effect.

          “Holder” means the Person in whose name a Warrant is registered on the books of the Company
maintained for such purpose.

          “Investor Directors” means the members of the Board designated by the Investors (as defined in
the Shareholders Agreement) pursuant to the terms of the Shareholders Agreement.

          “Lien” means any mortgage or deed of trust, pledge, hypothecation, assignment, deposit
arrangement, lien, charge, claim, security interest, easement or encumbrance, or preference,
priority or other security agreement or preferential arrangement of any kind or nature whatsoever
(including any lease or title retention agreement, any financing lease having substantially the
same economic effect as any of the foregoing, and the filing of, or agreement to give, any
financing statement perfecting a security interest under the Uniform Commercial Code or comparable
law of any jurisdiction).

          “Majority Warrant Holders”, with respect to a given determination, means the Holders of
Warrants exercisable for more than fifty percent (50%) of the aggregate number of shares of Warrant
Stock issuable upon the exercise of all Warrants outstanding and unexercised at the time of such
determination.

          “Material Adverse Effect” means an adverse effect of $100,000 or more on the condition
(financial or otherwise), operating results, business, prospects, assets, operations, employee
relations or customer or supplier relations of the Company and its Subsidiaries, taken as a whole;
provided, however, that no change, circumstance, effect, event or fact shall be deemed to be a
Material Adverse Effect to the extent that it is caused by the execution or public announcement of
the Original Purchase Agreement or the Series D Purchase Agreement or the transactions contemplated
hereby.

          “NASDAQ” means the NASDAQ quotation system, or any successor reporting system.

          “Option Plan” means the Company’s Amended and Restated 2004 Stock Option Incentive Plan, as
amended by that certain First Amendment, dated as of July 23, 2009.

          “Options” means any agreements, rights, warrants or options to subscribe for or purchase
Common Stock or Convertible Securities.

          “Organic Change” shall have the meaning set forth in Section 5.3(j).

          “Original Issue Date” means the date on which the Original Warrants were issued, as set forth
on the cover page of this Agreement.

4

 

          “Original Purchase Agreement” means the Series A Preferred Stock Purchase Agreement, dated as
of the First Closing Date, as amended by a First Amendment dated as of the Second Closing Date, as
further amended by a Second Amendment dated as of the Third Closing Date, as further amended by a
Third Amendment dated as of October 16, 2008 and as further amended by a Fourth Amendment dated as
of February 26, 2009.

          “Original Warrants” means the Warrants originally issued by the Company on the Original Issue
Date to the Series D Investors.

          “Outstanding” means, when used with reference to Common Stock, at any date as of which the
number of shares thereof is to be determined, all issued shares of Common Stock, except shares then
owned or held by or for the account of the Company or any Subsidiary thereof, and shall include all
shares issuable in respect of outstanding scrip or any certificates representing fractional
interests in shares of Common Stock.

          “Permitted Issuances” means the issuance and sale of the Preferred Stock expressly
contemplated by the Original Purchase Agreement and the Series D Purchase Agreement.

          “Person” means any individual, sole proprietorship, partnership, limited liability company,
joint venture, trust, incorporated organization, association, corporation, institution, public
benefit corporation, entity or government (whether federal, state, county, city, municipal or
otherwise, including any instrumentality, division, agency, body or department thereof).

          “Preferred Stock” means the Series A Preferred Stock, the Series B Preferred Stock, the Series
C Preferred Stock and the Series D Preferred Stock.

          “Qualified IPO” means the receipt by the Company of total gross offering proceeds of at least
$50,000,000 from the sale to the public of shares of Common Stock at a gross price per share not
less than $16 (as adjusted to reflect stock splits, stock dividends, stock combinations,
recapitalizations and like occurrences) pursuant to a firm commitment underwritten offering under
an effective registration statement under the Securities Act, or any comparable statement under any
similar federal statute then in force.

          “Registration Rights Agreement” means the Amended and Restated Registration Rights Agreement,
dated as of the date of this Agreement, as amended, by and among the Company and the Persons named
therein (as the same may be amended, modified, restated or replaced).

          “Second Amended Series A Designation” means the Second Amended Certificate of Designation
relating to the Series A Preferred Stock filed with the Secretary of State of Delaware in
connection with the closing under the Series D Purchase Agreement, as may be amended from time to
time.

          “Second Closing Date” means December 19, 2007.

          “Securities Act” means the Securities Act of 1933, as amended.

5

 

          “Series A Preferred Stock” means the Series A Redeemable Convertible Preferred Stock, $.0001
par value per share of the Company.

          “Series B Preferred Stock” means the Series B Redeemable Convertible Preferred Stock, $.0001
par value per share of the Company.

          “Series B Warrants” means the warrants to purchase Common Stock of the Company issuable
pursuant to that certain Amended and Restated Series B Warrant Agreement, dated as of the date of
this Agreement, by and among the Company and the holders thereof.

          “Series C Preferred Stock” means the Series C Redeemable Convertible Preferred Stock, $.0001
par value per share of the Company.

          “Series C Warrants” means the warrants to purchase Common Stock of the Company issuable
pursuant to that certain Amended and Restated Series C Warrant Agreement, dated as of the date of
this Agreement, by and among the Company and the holders thereof.

          “Series D Certificate of Designation” means the Certificate of Designation relating to the
Series D Preferred Stock filed with the Secretary of State of Delaware in connection with the
closing under the Series D Purchase Agreement, as may be amended from time to time.

          “Series D Investors” shall have the meaning set forth in the recitals.

          “Series D Preferred Stock” means the Series D Redeemable Convertible Preferred Stock, $.0001
par value per share of the Company.

          “Series D Purchase Agreement” shall have the meaning set forth in the recitals.

          “Shareholders Agreement” means the Second Amended and Restated Securityholders Agreement,
dated as of the date of this Agreement, by and among the Company and the Persons named therein (as
the same may be amended, modified, restated or replaced).

          “Subsidiary” means any corporation or association (a) more than 50% (by number of votes) of
the voting stock of which is at the time owned by the Company, by one or more Subsidiaries, or by
the Company and one or more Subsidiaries, (b) any other business entity in which the Company, one
or more Subsidiaries, or the Company and one or more Subsidiaries own more than a 50% interest
either in the profits or capital of such business entity or (c) whose net earnings, or portions
thereof, are consolidated with the net earnings of the Company and are recorded on the books of the
Company for financial reporting purposes in accordance with GAAP.

          “Third Closing Date” means May 30, 2008.

          “Transfer” means any transfer, sale, assignment, option, pledge, hypothecation or other direct
or indirect disposal of or encumbrance of any Warrant or of any interest therein, either by
operation of law or otherwise.

6

 

          “Warrant Certificates” shall have the meaning set forth in Section 1.

          “Warrant Price” means an amount equal to the number of shares of Warrant Stock being purchased
multiplied by the Exercise Price.

          “Warrants” shall have the meaning set forth in Section 1.

          “Warrant Stock” means the shares of Common Stock issued, issuable or both (as the context may
require) upon the exercise of Warrants.

     2.2 Interpretations.
For purposes of this Agreement:

          (a) The words “include,” “includes” and “including” shall be deemed to be followed by the
words “without limitation;” the word “or” is not exclusive; and the words “herein,” “hereof,”
“hereby,” “hereto” and “hereunder” refer to this Agreement as a whole.

          (b) Unless the context otherwise requires, references herein: (1) to Sections mean the
Sections of this Agreement; (2) to an agreement, instrument or other document means such agreement,
instrument or other document as amended, supplemented and modified from time to time to the extent
permitted by the provisions thereof and by this Agreement; and (3) to a statute means such statute
as amended from time to time and includes any successor legislation thereto and any regulations
promulgated thereunder.

          (c) Headings of Sections are inserted for convenience of reference only and shall not be
deemed a part of or to affect the meaning or interpretation of this Agreement.

          (d) Relative to the determination of any period of time, “from” means “from and including,”
“to” means “to but excluding” and “through” means “through and including.”

          (e) Words used in the singular include the plural and words in the plural include the
singular.

          (f) Each of the parties to this Agreement has had the benefit of counsel in the negotiation,
preparation and execution of this Agreement. This Agreement shall be construed without regard to
any presumption or rule requiring construction or interpretation against the party drafting an
instrument or causing any instrument to be drafted.

3. EXERCISE OF WARRANT

     3.1 Exercise.

          Each Warrant shall initially entitle the Holder thereof to purchase shares of Common Stock at
a per share exercise price equal to the Exercise Price (subject to adjustment as
provided in Section 5), in each case as provided herein and all on the terms and
conditions and pursuant to the provisions hereinafter set forth.

7

 

     3.2 Manner of Exercise.

          (a) From and after the Original Issue Date and until 5:00 P.M., New York, New York time, on
the Expiration Date, a Holder of a Warrant may from time to time exercise such Warrant, on any
Business Day, for all or any part of the number of shares of Common Stock purchasable thereunder.
In order to exercise a Warrant, in whole or in part, the Holder shall (i) deliver to the Company at
the Designated Office a written notice of the Holder’s election to exercise such Warrant (an
“Exercise Notice”), which Exercise Notice shall be irrevocable (except as otherwise provided in
Section 3.2(e)) and specify the number of shares of Common Stock being purchased, together
with the Warrant, (ii) pay to the Company the Warrant Price (the date on which both such delivery
and payment shall have first taken place being hereinafter sometimes referred to as the “Exercise
Date”) and (iii) if such Holder has not already done so, become a party to each of the Shareholders
Agreement and the Registration Rights Agreement by completing and executing a signature page
thereof. Such Exercise Notice shall be in the form of the subscription form appearing as Annex A
to Exhibit A, duly executed by the Holder or its duly authorized agent or attorney.

          (b) Upon receipt of such Exercise Notice, Warrant and payment and any other materials required
to be provided under Section 3.2(a), the Company shall, as promptly as practicable, and in
any event within five (5) Business Days thereafter, execute (or cause to be executed) and deliver
(or cause to be delivered) to the Holder a certificate or certificates representing the aggregate
number of full shares of Common Stock issuable upon such exercise, together with either any
fraction of a share or cash in lieu of any fraction of a share, as hereafter provided in
Section 3.4. The stock certificate or certificates so delivered shall be, to the extent
possible, in such denomination or denominations as the exercising Holder shall reasonably request
in the Exercise Notice and shall be registered in the name of the Holder or the name of its
nominee. A Warrant shall be deemed to have been exercised and such certificate or certificates
shall be deemed to have been issued, and the Holder or any other Person so designated to be named
therein shall be deemed to have become a Holder of record of such shares for all purposes, as of
the Exercise Date.

          (c) Payment of the Warrant Price may be made by check payable to the order of the Company or,
at the option of the Holder, by wire transfer of funds to an account designated by the Company for
such purpose.

          (d) If a Warrant shall have been exercised in part, the Company shall, at the time of delivery
of the certificate or certificates representing the shares of Common Stock being issued, deliver to
the Holder a new Warrant evidencing the rights of the Holder to purchase the number of unexercised
shares called for by such Warrant. Such new Warrant shall in all other respects be identical with
the original Warrant and subject to the terms of this Agreement.

          (e) Notwithstanding the foregoing provisions of this Section 3.2, a Holder (i) may
expressly condition the effectiveness of any exercise of a Warrant upon the simultaneous closing of
the sale, in an offering registered under the Securities Act or pursuant to the exercise of any
drag-along or co-sale rights under the Shareholders Agreement, of the shares of Common Stock as to
which the conditional exercise is being made and (ii) may revoke any such conditional exercise in
the event that the closing of such sale shall not occur. In the event that such simultaneous
exercise and sale shall occur, the Company shall cooperate with such Holder

8

 

and any third parties
involved in such sale to facilitate the issuance and sale of the shares of Common Stock involved.

     3.3 Payment of Charges.

          All shares of Common Stock issuable upon the exercise of a Warrant pursuant to the terms
hereof shall be validly issued, fully paid and nonassessable, issued without violation of any
preemptive rights and free and clear of all Liens (other than, to the extent permitted by
Section 9, any created by actions of the Holder). The Company shall pay all expenses in
connection with the issue or delivery thereof, unless such charge is imposed by law upon the
Holder, in which case such charge shall be paid by the Holder and the Company shall reimburse the
Holder therefor.

     3.4 Fractional Shares.

          The Company shall not be required to issue a fractional share of Common Stock upon exercise of
any Warrant. As to any fraction of a share that the Holder of one or more Warrants, the rights
under which are exercised in the same transaction, would otherwise be entitled to purchase upon
such exercise, the Company shall, at its option, issue upon exercise either (i) the fractional
share of Common Stock to which the Holder of one or more Warrants would otherwise be entitled or
(ii) a cash adjustment in respect of such final fraction in an amount equal to the same fraction of
(A) the Current Market Price of one share of Common Stock on the Exercise Date, if the Common Stock
is then publicly traded or (B) the Book Value per share of Common Stock based on the most recent
available consolidated balance sheet of the Company, if the Common Stock is not then publicly
traded.

4. TRANSFER, DIVISION AND COMBINATION

     4.1 Transfer.

          Subject to compliance with Section 9 and the Shareholders Agreement, each transfer of
a Warrant and all rights hereunder, in whole or in part, shall be registered on the books of the
Company to be maintained for such purpose, upon surrender of a Warrant at the Designated Office,
together with a written assignment of such Warrant in the form of Annex B to
Exhibit A hereto, duly executed by the Holder or its agent or attorney. Upon such
surrender and delivery, (i) the Company shall, subject to Section 9, execute and deliver a
new Warrant or Warrants in the name of the assignee or assignees and in the denominations specified
in such instrument of assignment, and shall issue to the assignor a new Warrant evidencing the
portion of the original Warrant not so assigned and the original Warrant shall promptly be
cancelled and (ii) if not already a party to the Shareholders Agreement and the Registration Rights
Agreement, each assignee shall become a party to each of the Shareholders Agreement and the
Registration Rights Agreement by completing and executing a joinder agreement thereto. A Warrant,
if properly assigned in compliance with Section 9 and the Shareholders Agreement, may be
exercised by the new Holder for the purchase of shares of Common Stock without having a new Warrant
issued.

9

 

     4.2 Division and Combination.

          Subject to compliance with the applicable provisions of this Agreement, a Warrant may be
divided or combined with other Warrants upon presentation thereof at the Designated Office,
together with a written notice specifying the names and denominations in which new Warrants are to
be issued, signed by the Holder or its agent or attorney. Subject to compliance with the
applicable provisions of this Agreement and the Shareholders Agreement as to any transfer which may
be involved in such division or combination, the Company shall execute and deliver a new Warrant or
Warrants in exchange for the Warrant or Warrants to be divided or combined in accordance with such
notice.

     4.3 Expenses.

          The Company shall prepare, issue and deliver at its own expense any new Warrant or Warrants
required to be issued under this Section 4.

     4.4 Maintenance of Books.

          The Company agrees to maintain, at the Designated Office, books for the registration and
transfer of the Warrants.

5. EXERCISE PRICE; ANTIDILUTION PROVISIONS

     5.1 Exercise Price.

          The initial exercise price shall be $3.00 per share of Common Stock (subject to adjustment
from time to time as provided in this Section 5) (as so adjusted, the “Exercise Price”).

     5.2 Adjustments; Exceptions.

          (a) If and whenever on or after the Original Issue Date the Company issues or sells or, in
accordance with this Section 5, is deemed to have issued or sold, any shares of its Common
Stock for a consideration per share less than the Exercise Price in effect immediately prior to the
time of such issuance, then immediately upon such issuance or sale or deemed issuance or sale the
Exercise Price shall be reduced to the exercise price determined by dividing (i) the sum of
(1) the product derived by multiplying the Exercise Price in effect immediately prior to such
issuance or sale by the number of shares of Common Deemed Outstanding immediately prior to such
issuance or sale, plus (2) the consideration, if any, received by the Company upon such issuance or
sale, by (ii) the number of shares of Common Deemed Outstanding immediately after such
issue or sale.

          (b) Notwithstanding the foregoing, there shall be no adjustment in the Exercise Price as a
result of any issuance or sale (or deemed issuance or sale) of:

          (i) shares of Common Stock issued upon conversion of the Preferred Stock;

          (ii) shares of Common Stock issued upon the exercise of the Warrants, the Series B
Warrants or the Series C Warrants;

10

 

          (iii) shares of Common Stock issued upon the exercise of Options or other Convertible
Securities outstanding as of the First Closing Date;

          (iv) securities issued pursuant to a Board-approved (including at least one of the
Investor Directors) bona fide acquisition of an entity by merger, purchase of substantially
all of the assets or other reorganization;

          (v) shares of Common Stock issued to Catalyst pursuant to the Options granted under the
Catalyst Letter Agreements;

          (vi) shares of Common Stock or other securities issued as a dividend or distribution
on, or in connection with a split of or recapitalization of, any of the capital stock of the
Company;

          (vii) up to an aggregate of Eight Hundred Thousand (800,000) shares (or such greater or
lesser number of shares as may be approved by a majority of the Board (including at least
one of the Investor Directors)) of Common Stock reserved for issuance per year pursuant to
the Option Plan (subject to adjustment in the event of stock splits, stock dividends, stock
combinations, recapitalizations and like occurrences) and shares of Common Stock reserved
for issuance pursuant to the Option Plan in lieu of the repayment of certain salary
deferrals as approved by a majority of the Board (including at least one of the Investor
Directors), which foregoing shares may be subject to Options or restricted stock awards
granted under the Option Plan; provided that any Options that expire or terminate
unexercised or any restricted stock awards that are repurchased by the Company pursuant to
the terms of such award shall not be counted toward the maximum number set forth in this
subparagraph (vii) unless and until such shares are subject to new restricted stock awards
(or new Options) pursuant to the terms of the Option Plan;

          (viii) shares of Common Stock issued or issuable (including Options to acquire such
shares of Common Stock) to suppliers or third-party service providers in connection with the
provision of goods or services pursuant to transactions in the ordinary course of business
and approved by a majority of the Board, including at least one of the Investor Directors;

          (ix) shares of Common Stock issued or issuable in connection with bona-fide sponsored
research, collaboration, technology license, development, OEM, marketing or other similar
agreements or strategic partnerships or joint ventures entered into in the ordinary course
of business and approved by a majority of the Board, including at least one of the Investor
Directors (and by at least a majority of the shares of Preferred Stock and Conversion Common
Shares, voting as a single class on a Common Equivalent Basis, then outstanding, if required
pursuant to Section 3(c) of the Series D Certificate of Designation);

          (x) securities issued in connection with a Qualified IPO;

          (xi) Permitted Issuances; or

11

 

          (xii) Options (covering up to an aggregate of Three Hundred Thirty Thousand (330,000)
shares of Common Stock) issued in substitution for outstanding Options;

provided that the aggregate number of shares of Common issued or issuable pursuant to clauses
(viii) and (ix) above shall not exceed Three Hundred Fifty Thousand (350,000) shares (or such
greater or lesser number of shares as may be approved by a majority of the Board (including at
least one of the Investor Directors)) in any twelve-month period.

     5.3 Effect on Exercise Price of Certain Events.

          For purposes of determining any adjustments to the Exercise Price under this Section
5, the following shall be applicable:

          (a) Issuance of Options. If the Company in any manner grants, issues or sells any
Options (other than any Options permitted by Section 5.2(b)) and the price per share for
which Common Stock is issuable upon the exercise of such Options, or upon conversion or exchange of
any Convertible Securities issuable upon exercise of such Options, is less than the Exercise Price
in effect immediately prior to the time of the granting, issuance or sale of such Options, then the
total maximum number of shares of Common Stock issuable upon the exercise of such Options or upon
conversion or exchange of the total maximum amount of such Convertible Securities issuable upon the
exercise of such Options shall be deemed to be outstanding and to have been issued and sold by the
Company at the time of the granting, issuance or sale of such Options for such price per share.
For purposes of this paragraph, the “price per share for which Common Stock is issuable” shall be
determined by dividing (i) the sum of (1) the total amount, if any, received or receivable by the
Company as consideration for
the granting, issuance or sale of such Options, plus (2) the minimum aggregate amount of
additional consideration payable to the Company upon exercise of all such Options, plus (3) in the
case of such Options which relate to Convertible Securities, the minimum aggregate amount of
additional consideration, if any, payable to the Company upon the issuance or sale of such
Convertible Securities and the conversion or exchange thereof, by (ii) the total maximum number of
shares of Common Stock issuable upon the exercise of such Options or upon the conversion or
exchange of all such Convertible Securities issuable upon the exercise of such Options. No further
adjustment of the Exercise Price shall be made when Convertible Securities are actually issued upon
the exercise of such Options or when Common Stock actually issued upon the exercise of such Options
or the conversion or exchange of such Convertible Securities.

          (b) Issuance of Convertible Securities. If the Company in any manner issues or sells
any Convertible Securities and the price per share for which Common Stock is issuable upon
conversion or exchange thereof is less than the Exercise Price in effect immediately prior to the
time of such issuance or sale, then the maximum number of shares of Common Stock issuable upon
conversion or exchange of such Convertible Securities shall be deemed to be outstanding and to have
been issued and sold by the Company at the time of the issuance or sale of such Convertible
Securities for such price per share. For the purposes of this paragraph, the “price per share for
which Common Stock is issuable” shall be determined by dividing (i) the sum of (1) the total amount
received or receivable by the Company as consideration for the issuance or sale of such Convertible
Securities, plus (2) the minimum aggregate amount of

12

 

additional consideration, if any, payable to
the Company upon the conversion or exchange thereof, by (B) the total maximum number of shares of
Common Stock issuable upon the conversion or exchange of all such Convertible Securities. No
further adjustment of the Exercise Price shall be made when Common Stock is actually issued upon
the conversion or exchange of such Convertible Securities, and if any such issuance or sale of such
Convertible Securities is made upon exercise of any Options for which adjustments of the Exercise
Price had been or are to be made pursuant to other provisions of this Section 5, no further
adjustment of the Exercise Price shall be made by reason of such issue or sale.

          (c) Change in Option Price or Conversion Rate. If the purchase price provided for in
any Options, the additional consideration, if any, payable upon the conversion or exchange of any
Convertible Securities or the rate at which any Convertible Securities are convertible into or
exchangeable for Common Stock changes at any time, the Exercise Price in effect at the time of such
change shall be immediately adjusted to the Exercise Price that would have been in effect at such
time had such Options or Convertible Securities still outstanding provided for such changed
purchase price, additional consideration or conversion rate, as the case may be, at the time
initially granted, issued or sold; provided that if such adjustment of the Exercise Price would
result in an increase in the Exercise Price then in effect, the Company will promptly give all
Holders written notice of such increase. For purposes of this subsection (c), if the terms
of any Option or Convertible Security that was outstanding as of the Original Issue Date are
changed in the manner described in the immediately preceding sentence, then such Option or
Convertible Security and the Common Stock deemed issuable upon exercise, conversion or exchange
thereof shall be deemed to have been issued as of the date of such change; provided that no such
change shall at any time cause the Exercise Price hereunder to be increased.

          (d) Treatment of Expired Options and Unexercised Convertible Securities. Upon the
expiration of any Option or the termination of any right to convert or exchange any Convertible
Security without the exercise of any such Option or right, the Exercise Price then in effect
hereunder shall be adjusted immediately to the Exercise Price that would have been in effect at the
time of such expiration or termination had such Option or Convertible Security, to the extent
outstanding immediately prior to such expiration or termination, never been issued; provided that
if such expiration or termination would result in an increase in the Exercise Price then in effect,
the Company will promptly give all Holders of Warrants written notice of such increase. For
purposes of this subsection (d), the expiration or termination of any Option or Convertible
Security that was outstanding as of the Original Issue Date shall not cause the Exercise Price
hereunder to be adjusted unless, and only to the extent that, a change in the terms of such Option
or Convertible Security caused it to be deemed to have been issued after the Original Issue Date.

          (e) Calculation of Consideration Received. If any Common Stock, Option or Convertible
Security is issued or sold or deemed to have been issued or sold for cash, the consideration
received therefor shall be deemed to be the amount received by the Company therefor (net of
discounts, commissions and related expenses). If any Common Stock, Option or
Convertible Security
is issued or sold for a consideration other than cash, the amount of the consideration other than
cash received by the Company shall be the fair market value of such consideration as determined in
good faith by the Board. If any Common Stock, Option or

13

 

 Convertible Security is issued to the
owners of the non-surviving entity in connection with any merger in which the Company is the
surviving corporation, the amount of consideration therefor shall be deemed to be the fair value of
such portion of the net assets and business of the non-surviving entity as is attributable to such
Common Stock, Option or Convertible Security, as the case may be. The fair value of any
consideration other than cash and securities shall be the fair market value as determined in good
faith by the Board.

          (f) Integrated Transactions. In case any Option is issued in connection with the
issuance or sale of other securities of the Company, together comprising one integrated transaction
in which no specific exercise price is allocated to such Option by the parties thereto, the Option
shall be deemed to have been issued at an exercise price of $0.01.

          (g) Treasury Shares. The number of shares of Common Stock Outstanding at any given
time shall not include shares owned or held by or for the account of the Company, and the
disposition of any shares so owned or held shall be considered an issuance or sale of such shares.

          (h) Record Date. If the Company takes a record of the holders of Common Stock for the
purpose of entitling them (i) to receive a dividend or other distribution payable in Common Stock,
Options or in Convertible Securities or (ii) to subscribe for or purchase Common Stock, Options or
Convertible Securities, then such record date shall be deemed to be the date of the issue or sale
of the shares of Common Stock deemed to have been issued or sold upon the declaration of such
dividend or upon the making of such other distribution or the date of the granting of such right of
subscription or purchase, as the case may be.

          (i) Subdivisions or Combinations of Common Stock. If the Company at any time
subdivides (by any stock split, stock dividend, recapitalization or otherwise) one or more classes
of its outstanding shares of Common Stock into a greater number of shares, the Exercise Price in
effect immediately prior to such subdivision shall be reduced proportionately, and if the Company
at any time combines (by reverse stock split or otherwise) one or more classes of its outstanding
shares of Common Stock into a smaller number of shares, the Exercise Price in effect immediately
prior to such combination shall be increased proportionately.

          (j) Recapitalization, Reorganization, Reclassification, Consolidation, Merger or Sale.
Any recapitalization, reorganization, reclassification, consolidation, merger, sale of all or
substantially all of the Company’s assets or other transaction, in each case which is effected in
such a manner that the holders of Common Stock are entitled to receive (either directly or upon
subsequent liquidation) stock, securities or assets with respect to or in exchange for Common
Stock, is referred to herein as an “Organic Change.” Prior to the consummation of any Organic
Change, the Company shall make appropriate provisions (in form and substance reasonably
satisfactory to the Majority Warrant Holders) to
insure that each of the Holders shall thereafter
have the right to acquire and receive, in lieu of or in addition to (as the case may be) the shares
of Common Stock immediately theretofore acquirable and receivable upon the exercise of such
Holder’s Warrant, such shares of stock, securities or assets as such Holder would have received in
connection with such Organic Change if such Holder had exercised its Warrant immediately prior to
such Organic Change. In each such case, the Company shall also make appropriate provisions (in
form and substance reasonably satisfactory to the Majority Warrant Holders) to

14

 

 insure that the
provisions of this Section 5 shall thereafter be applicable to the securities issued upon
exercise of the Warrants (including, in the case of any such consolidation, merger or sale in which
the successor entity or purchasing entity is other than the Company and the value for the Common
Stock reflected by the terms of such consolidation, merger or sale is less than the Exercise Price
in effect immediately prior to such consolidation, merger or sale, an immediate adjustment of the
Exercise Price to the value for the Common Stock so reflected and a corresponding immediate
adjustment in the number of shares of Common Stock acquirable and receivable upon the exercise of
the Warrants). The Company shall not effect any such Organic Change, unless prior to the
consummation thereof, the successor entity (if other than the Company) resulting from consolidation
or merger or the entity purchasing such assets assumes by written instrument (in form and substance
satisfactory to the Majority Warrant Holders) the obligation to deliver to each such Holder such
shares of stock, securities or assets as, in accordance with the foregoing provisions, such holder
may be entitled to acquire.

          (k) Certain Other Events. If any event occurs of the type contemplated by the
provisions of this Section 5 but not expressly provided for by such provisions (including,
without limitation, the granting of stock appreciation rights, phantom stock rights or other rights
with equity features), then the Board shall make an appropriate adjustment in the Exercise Price so
as to protect the rights of the Holders of Warrants; provided that no such adjustment shall
increase the Exercise Price as otherwise determined pursuant to this Section 5 or decrease
the number of shares of Common Stock issuable upon exercise of each Warrant.

     5.4 Notices.

          Immediately upon any adjustment of the Exercise Price, the Company shall give written notice
thereof to all Holders, setting forth in reasonable detail and certifying the calculation of such
adjustment.

6. NO IMPAIRMENT

          The Company shall not by any action, including amending its charter documents or through any
reorganization, reclassification, transfer of assets, consolidation, merger, dissolution, issue or
sale of securities or any other similar voluntary action, avoid or seek to avoid the observance or
performance of any of the terms of this Agreement, 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 to protect the rights of the Holder of any Warrant against impairment. Without
limiting the generality of the foregoing, the Company shall take all such action as may be
necessary or appropriate in order that the Company may validly and legally issue fully paid and
nonassessable shares of Common Stock upon the exercise of the Warrants, free and clear of all Liens
(other than, to the extent permitted by Section 9, any created by actions of the Holder),
and shall use its commercially reasonable efforts to obtain all such authorizations, exemptions or
consents from any public regulatory body having jurisdiction thereof as may be necessary to enable
the Company to perform its obligations under this Agreement.

15

 

7. RESERVATION AND AUTHORIZATION OF COMMON STOCK; REGISTRATION WITH OR APPROVAL OF ANY GOVERNMENTAL
AUTHORITY

          From and after the Original Issue Date, the Company shall at all times reserve and keep
available for issuance upon the exercise of the Warrants such number of its authorized but unissued
shares of Common Stock as will be sufficient to permit the exercise in full of all outstanding
Warrants. All shares of Common Stock issuable pursuant to the terms hereof, when issued upon
exercise of Warrants with payment therefor in accordance with the terms hereof, shall be duly and
validly issued and fully paid and nonassessable, not subject to preemptive rights and shall be free
and clear of all Liens (other than, to the extent permitted by Section 9, any created by
actions of the Holder). Before taking any action that would result in an adjustment in the number
of shares of Common Stock for which the Warrants are exercisable, the Company shall obtain all such
authorizations or exemptions thereof, or consents thereto, as may be necessary from any public
regulatory body or bodies having jurisdiction over such action. If any shares of Common Stock
required to be reserved for issuance upon exercise of Warrants require registration or
qualification with any governmental authority under any federal or state law (other than under the
Securities Act or any state securities law) before such shares may be so issued, the Company will
in good faith and as expeditiously as possible and at its expense endeavor to cause such shares to
be duly registered.

8. NOTICE OF CORPORATE ACTIONS; TAKING OF RECORD; TRANSFER BOOKS

     8.1 Notices of Corporate Actions.

          In the event of: (a) any taking by the Company of a record of the holders of any class of
securities for the purpose of determining the holders thereof who are entitled to receive any
dividend or distribution, (other than cash dividends payable upon shares of Preferred Stock of the
Company), or any right to subscribe for, purchase or otherwise acquire any shares of capital stock
of any class or any other securities, (b) any capital reorganization of the Company, any
reclassification or recapitalization of the capital stock of the Company or any consolidation or
merger involving the Company and any other Person or any transfer or other disposition of all or
substantially all the assets of the Company to another Person, (c) any voluntary or involuntary
dissolution, liquidation or winding-up of the Company, (d) any amendment of the Certificate of
Incorporation of the Company or (e) any registration or public offering of Common Stock, the
Company shall mail to each Holder of a Warrant in accordance with the provisions of Section
14.2 a notice specifying (i) in the case of a dividend or distribution, the date or expected
date on which any such record is to be taken for the purpose of such dividend, distribution or
right, and the amount and character of such dividend, distribution or right, (ii) in the case of a
reorganization, reclassification, recapitalization, consolidation, merger, transfer, disposition,
dissolution, liquidation or winding-up, the date or expected date on which any such reorganization,
reclassification, recapitalization, consolidation, merger, transfer, disposition, dissolution,
liquidation or winding-up is to take place, the time, if any such time is to be fixed, as of which
the holders of record of Common Stock shall be entitled to exchange their shares of Common Stock
for the shares of stock, securities or assets deliverable upon such reorganization,
reclassification, recapitalization, consolidation, merger, transfer, disposition, dissolution,
liquidation or winding-up and a description in reasonable detail of the transaction and (iii) in
case of an amendment of the Certificate of Incorporation or any registration or public offering of
Common Stock, the expected date of such event and a description in reasonable detail of the event.
Such notice shall be mailed to the extent practicable at least thirty (30), but not more than

16

 

ninety (90) days prior to the date therein specified. In the event that the Company at any time
sends any other notice to the holders of its Common Stock, it shall concurrently send a copy of
such notice to each Holder of a Warrant.

     8.2 Taking of Record.

          In the case of all dividends or other distributions by the Company to the holders of its
Common Stock with respect to which any provision of any Section hereof refers to the taking of a
record of such holders, the Company will in each such case take such a record and will take such
record as of the close of business on a Business Day.

     8.3 Closing of Transfer Books.

          The Company shall not at any time, except upon dissolution, liquidation or winding up of the
Company, close its stock transfer books or Warrant transfer books so as to result in preventing or
delaying the exercise or transfer of any Warrant.

9. TRANSFER RESTRICTIONS; LEGENDS

     9.1 Restrictions on Transfer and Entry into Shareholders Agreement and Registration Rights
Agreement.

          Concurrently with the execution and delivery of this Agreement, each Holder of an Original
Warrant is entering into and becoming a party to each of the Shareholders Agreement and the
Registration Rights Agreement, if not already a party thereto, by completing and executing a
signature page thereof. The Company shall not be obligated to register any transfer of Warrants
and no such purported transfer shall be effective unless and until the transferee has executed and
delivered a joinder agreement pursuant to which such assignee becomes a party to the Shareholders
Agreement and the Registration Rights Agreement.

     9.2 Legends.

          (a) Each Warrant Certificate shall be stamped or otherwise imprinted with a legend in
substantially the following form:

          (i) “NEITHER THE WARRANTS REPRESENTED BY THIS CERTIFICATE NOR ANY OF THE SECURITIES
ISSUABLE UPON EXERCISE THEREOF HAVE BEEN REGISTERED PURSUANT TO AN EFFECTIVE REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND NEITHER THE WARRANTS REPRESENTED
BY THIS CERTIFICATE NOR ANY OF THE SECURITIES ISSUABLE UPON EXERCISE THEREOF MAY BE
TRANSFERRED, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS SUCH DISPOSITION
IS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS
AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS, OR IS MADE IN A TRANSACTION EXEMPT FROM
SUCH REGISTRATION REQUIREMENTS.”

17

 

          (ii) “THE WARRANTS REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE PROVISIONS OF A
WARRANT AGREEMENT, DATED AS OF AUGUST 27, 2009, A COPY OF WHICH IS ON FILE WITH THE
SECRETARY OF THE COMPANY.”

          (iii) “THE TRANSFER, SALE, ASSIGNMENT, PLEDGE OR OTHER DISPOSITION OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY AND SUBJECT TO THE TERMS AND CONDITIONS
SPECIFIED IN THAT CERTAIN SECOND AMENDED AND RESTATED SECURITYHOLDERS’ AGREEMENT, DATED AS
OF AUGUST 27, 2009, AS AMENDED AND MODIFIED FROM TIME TO TIME, AMONG XSTREAM SYSTEMS, INC.
(THE “COMPANY”) AND CERTAIN SECURITYHOLDERS, AND THE COMPANY RESERVES THE RIGHT TO REFUSE
THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO
SUCH TRANSFER. A COPY OF SUCH SECOND AMENDED AND RESTATED SECURITYHOLDERS’ AGREEMENT SHALL
BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE.”

          (b) Each certificate for shares of Warrant Stock shall be stamped or otherwise imprinted with
a legend in substantially the following form:

          (i) “THE SECURITIES REPRESENTED BY THIS CERTIFICATE HAVE NOT BEEN REGISTERED PURSUANT
TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND MAY
NOT BE TRANSFERRED, SOLD, PLEDGED, HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS SUCH
DISPOSITION IS PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF
1933, AS AMENDED, AND ANY APPLICABLE STATE SECURITIES LAWS, OR IS MADE IN A TRANSACTION
EXEMPT FROM SUCH REGISTRATION REQUIREMENTS.”

          (ii) “THE TRANSFER, SALE, ASSIGNMENT, PLEDGE OR OTHER DISPOSITION OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY AND SUBJECT TO THE TERMS AND CONDITIONS
SPECIFIED IN THAT CERTAIN SECOND AMENDED AND RESTATED SECURITYHOLDERS’ AGREEMENT, DATED AS
OF AUGUST 27, 2009, AS AMENDED AND MODIFIED FROM TIME TO TIME, AMONG XSTREAM SYSTEMS, INC.
(THE “COMPANY”) AND CERTAIN SECURITYHOLDERS, AND THE COMPANY RESERVES THE RIGHT TO REFUSE
THE TRANSFER OF SUCH SECURITIES UNTIL SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO
SUCH TRANSFER. A COPY OF SUCH SECOND AMENDED AND RESTATED SECURITYHOLDERS’ AGREEMENT SHALL
BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE.”

18

 

          (c) In addition, Warrant Certificates and any certificates for shares of Warrant Stock shall
bear any legends required by applicable state law. When any Warrants or shares of Warrant Stock
have been registered under the Securities Act, and such Warrants or shares of Warrant Stock have
been sold pursuant to such registration or pursuant to Rule 144 under the Securities Act or are
eligible to be sold pursuant to paragraph (k) of such Rule, the Holder of such Warrants or shares
of Warrant Stock shall be entitled to exchange, as the case may be, the Warrant Certificate
representing such Warrants for a Warrant Certificate, or a certificate representing such shares of
Warrant Stock for a new certificate, in each case not bearing the legend required by clause (a)(i)
or (b)(i), as the case may be, of this Section 9. If any Warrants or shares of Warrant
Stock cease to be subject to this Agreement or the Shareholders Agreement, as the case may be, the
Holder of such Warrants or Warrant Stock shall be entitled to exchange, as the case may be, the
Warrant Certificate representing such Warrants for a Warrant Certificate, or a certificate
representing such shares of Warrant Stock for a new certificate, in each case not bearing the
legend required by clauses (a)(ii), (a)(iii) or (b)(ii), as the case may be, of this Section
9. Each Holder agrees that, in addition to complying with the restrictions on transfer set
forth elsewhere in this Agreement, such Holder will not directly or indirectly Transfer any
Warrants (or solicit any offers to buy, purchase or otherwise acquire or take a pledge of any
Warrants) in violation of the Securities Act, applicable state securities or “blue sky” laws or any
rules or regulations thereunder, and such Holder will not Transfer any Warrants unless the
conditions set forth in the legend required by clause (a)(i) of this Section 9 are
satisfied.

10. LOSS OR MUTILATION

          Upon receipt by the Company from any Holder of evidence reasonably satisfactory to it of the
ownership of and the loss, theft, destruction or mutilation of a Warrant Certificate and an
indemnity reasonably satisfactory to it (it being understood that the written indemnification
agreement of or affidavit of loss of a Holder of an Original Warrant shall be a sufficient
indemnity) and, in case of mutilation, upon surrender and cancellation hereof, the Company will
execute and deliver in lieu hereof a new Warrant of like tenor to such Holder; provided, however,
in the case of mutilation, no indemnity shall be required if a Warrant Certificate in identifiable
form is surrendered to the Company for cancellation.

11. OFFICE OF THE COMPANY

          As long as any of the Warrants remain outstanding, the Company shall maintain an office or
agency, which may be the principal executive offices of the Company (the “Designated Office”),
where the Warrants may be presented for exercise, registration of transfer, division or combination
as provided in this Agreement. Such Designated Office shall initially be the office of the Company
at 10305 102nd Terrace, Suite 101, Sebastian, Florida 32958. The Company may from time
to time change the Designated Office to another office of the Company or its agent within the
United States by notice given to all registered Holders of Warrants at least ten (10) Business Days
prior to the effective date of such change.

12. FINANCIAL AND BUSINESS INFORMATION

     12.1 Deliveries.
Until the applicable Exercise Date with respect to a Warrant, the Company shall deliver to the
Holder of such Warrant one copy of each of the following items:

19

 

          (a) as soon as available but in any event within thirty (30) days after the end of each
monthly accounting period in each fiscal year (other than the third monthly accounting period in
each fiscal quarter), unaudited statements of income and cash flows of the Company for such monthly
period and for the period from the beginning of the fiscal year to the end of such month, and an
unaudited balance sheet of the Company as of the end of such monthly period, setting forth in each
case comparisons to the Company’s annual budget and to the corresponding period in the preceding
fiscal year, and all such statements shall be prepared in accordance with GAAP, subject to the
absence of footnote disclosures and to normal year-end adjustments, and shall be certified by the
Company’s Chief Financial Officer;

          (b) as soon as available but in any event within forty five (45) days after the end of each
fiscal quarter in each fiscal year (other than the fourth fiscal quarter of each fiscal year),
unaudited statements of income and cash flows of the Company for such fiscal quarter and for the
period from the beginning of the fiscal year to the end of such fiscal quarter, and an unaudited
balance sheet of the Company as of the end of such fiscal quarter, setting forth in each case
comparisons to the Company’s annual budget and to the corresponding period in the preceding fiscal
year, and all such statements shall be prepared in accordance with GAAP,
subject to the absence of footnote disclosures and to normal year-end adjustments, and shall
be certified by the Company’s Chief Financial Officer;

          (c) as soon as available but in any event within ninety (90) days after the end of each fiscal
year, audited statements of income and cash flows of the Company for such fiscal year, and an
audited balance sheet of the Company as of the end of such fiscal year prepared in accordance with
GAAP, and accompanied by, with respect to the consolidated portions of such statements, an opinion
of an independent accounting firm of recognized regional standing selected by the Board, together
with comparisons to the Company’s annual budget and to the preceding fiscal year;

          (d) accompanying the financial statements referred to in subparagraphs (b) and (c), an
officer’s certificate stating that there is no event in existence that, with notice or the passage
of time or both, might become an Event of Noncompliance (as defined in the Series D Certificate of
Designation) or, if any such event exists, specifying the nature and period of existence thereof
and what actions the Company has taken or has proposed to take with respect thereto;

          (e) promptly upon receipt thereof, any additional reports, management letters or other
detailed information concerning significant aspects of the Company’s operations or financial
affairs given to the Company by its independent accountants (and not otherwise contained in other
materials provided hereunder); and

          (f) within 10 days after transmission thereof, copies of all financial statements, proxy
statements, reports and any other general written communications that the Company sends to its
stockholders and copies of all press releases and other statements made available generally by the
Company to the public concerning material developments in the Company’s business and not otherwise
posted on the Company’s external website;

20

 

provided that any Holder shall be entitled to provide notice to the Company that it elects not to
receive copies of the financial statements and other documentation referred to in this Section
12.1(a); and provided, further, that the Company shall be entitled to satisfy its obligations
under this Section 12.1(a) through electronic delivery of the financial statements and
other documentation referred to in this Section 12.1(a) or by making such information
available through a password-protected website.

     12.2 Financial Statements.
Each of the financial statements referred to in Sections 12.1(a),
12.1(b) and 12.1(c) shall fairly present in all material respects the financial
condition of the Company as of the dates and for the periods stated therein, subject in the case of
the unaudited financial statements to changes resulting from normal year-end adjustments (none of
which would, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect).

13. REPRESENTATIONS AND WARRANTIES

     13.1 Holders.

          Each Holder, by its acceptance of a Warrant, represents that (i) it is an “accredited
investor,” as that term is defined in Rule 501(a) of Regulation D promulgated under the Securities
Act, (ii) it is acquiring such Warrant for its own account, not as a nominee or agent, with the
present intention of holding it for purposes of investment, and that it has no present intention of
selling it in a public distribution in violation of the federal securities laws or any applicable
state securities laws, provided that nothing contained herein shall prevent such Holder from
transferring such Warrant in compliance with the provisions of Section 4.1, and (iii) it
understands that the Warrant has not been registered under the Securities Act, or applicable state
securities laws, and is being issued in reliance on exemptions from such registration requirements
and that, as a result, the Warrant may not be re-offered or resold except in compliance with
Section 9.

     13.2 Company.

          The Company has full legal right, power and authority to enter into and perform this Agreement
and to issue the Warrants and to perform all its obligations relating thereto. The execution and
delivery of this Agreement, the issuance of the Warrants by the Company and the consummation of the
transactions contemplated hereby and thereby have all been duly authorized by the Board of the
Company and, where required, the stockholders of the Company. No consent, waiver or authorization
of, or filing with any other Person is required in connection with any of the foregoing or with the
validity or enforceability against the Company of this Agreement or the Warrants. This Agreement
has been duly executed and delivered by the Company and constitutes the legal, valid and binding
obligation of the Company, enforceable in accordance with its terms, except as may be limited by
bankruptcy, insolvency, reorganization or similar laws affecting creditors’ rights generally and
subject to general principles of equity. The execution, delivery and performance of this Agreement
and the Warrants and the consummation of the transactions contemplated hereby and thereby do not
and will not, with or without the passage of time or the giving of notice or both, (i) violate any
provision of the Company’s Certificate of Incorporation or By-laws or (ii) violate any requirement
of law or any material

21

 

agreement to which the Company is a party. The Warrants have been duly
executed and delivered by the Company, have been duly authorized and validly issued free and clear
of all liens, encumbrances, equities and claims, are fully paid and non-assessable, and constitutes
the legal, valid and binding obligations of the Company, enforceable in accordance with their
terms, except as may be limited by bankruptcy, insolvency, reorganization or similar laws affecting
creditors’ rights generally and subject to general principles of equity.

14. MISCELLANEOUS

     14.1 Nonwaiver.

          No course of dealing or any delay or failure to exercise any right hereunder on the part of
the Company or the Holders shall operate as a waiver of such right or otherwise prejudice the
rights, powers or remedies of such Person.

     14.2 Notice Generally.

          Any notice, demand, request, consent, approval, declaration, delivery or communication
hereunder to be made pursuant to the provisions of this Agreement shall be sufficiently given or
made if in writing and either delivered in person with receipt acknowledged or sent by registered
or certified mail, return receipt requested, postage prepaid, addressed as follows:

          (i) if to any Holder of Warrants, at its last known address appearing on the books of
the Company maintained for such purpose;

          (ii) if to the Company, at its Designated Office;

or at such other address as may be substituted by notice given as herein provided. The giving of
any notice required hereunder may be waived in writing by the party entitled to receive such
notice. Every notice, demand, request, consent, approval, declaration, delivery or other
communication hereunder shall be deemed to have been duly given or served on the date on which
personally delivered, with receipt acknowledged, or three (3) Business Days after the same shall
have been deposited in the United States mail, or one (1) Business Day after the same shall have
been delivered to Federal Express or another overnight courier service.

     14.3 Indemnification.

          If the Company fails to make, when due, any payments provided for in this Agreement, the
Company shall pay to the applicable Holder (a) interest at the Agreed Rate on any amounts due and
owing to such Holder and (b) such further amounts as shall be sufficient to cover any costs and
expenses including reasonable attorneys’ fees and expenses incurred by such Holder in collecting
any amounts due hereunder. The Company shall indemnify, save and hold harmless the Holders from
and against any and all liability, loss, cost, damage, reasonable attorneys’ and accountants’ fees
and expenses, court costs and all other out-of-pocket expenses incurred in connection with or
arising from a Company Default. This indemnification provision

22

 

shall be in addition to the rights
of such Holder or Holders to bring an action against the Company for breach of contract based on
such Company Default.

     14.4 Limitation of Liability; No Stockholder Rights.

          No provision hereof, in the absence of affirmative action by the Holder to purchase shares of
Common Stock, and no enumeration herein of the rights or privileges of the
Holders, shall give rise to any liability or right of any such Holder to pay the Exercise
Price for any Warrant Stock or any liability or rights as a stockholder of the Company, in each
case other than pursuant to an exercise of a Warrant and in each case whether such liability is
asserted by the Company or by creditors of the Company.

     14.5 Remedies.

          Each Holder of Warrants, in addition to being entitled to exercise its rights granted by law,
including recovery of damages, shall be entitled to specific performance of its rights provided
under this Agreement. The Company agrees that monetary damages would not be adequate compensation
for any loss incurred by reason of a breach by it of the provisions of this Agreement, and hereby
agrees, in an action for specific performance, to waive the defense that a remedy at law would be
adequate.

     14.6 Successors and Assigns.

          Subject to the provisions of Sections 4.1 and 9, this Agreement and the rights
evidenced hereby shall inure to the benefit of and be binding upon the successors of the Company
and the permitted successors and assigns of the Holders. The provisions of this Agreement are
intended to be for the benefit of all Holders from time to time of Warrants, and shall be
enforceable by any such Holder and, as provided in Section 4.1, such Holder’s permitted
assigns.

     14.7 Amendment.

          This Agreement and the Warrants may be modified or amended or the provisions hereof waived
with the written consent of the Company and the Majority Warrant Holders, provided, however, that
no such modification or amendment that would treat any Holder in a discriminatory manner may be
made without the prior written consent of such Holder.

     14.8 Severability.

          Wherever possible, each provision of this Agreement shall be interpreted in such manner as to
be effective and valid under applicable law, but if any provision of this Agreement shall be
prohibited by or invalid under applicable law, such provision shall be ineffective to the extent of
such prohibition or invalidity, without invalidating the remainder of such provision or the
remaining provisions of this Agreement.

23

 

     14.9 Governing Law; Jurisdiction.

          In all respects, including all matters of construction, validity and performance, this
Agreement and the Warrants and the obligations arising hereunder and thereunder shall be governed
by, and construed and enforced in accordance with, the laws of the State of Florida applicable to
contracts made and performed in such state, except with respect to the validity of this Agreement
and the Warrants, the issuance of Warrant Stock upon exercise of the Warrants and the rights and
duties of the Company with respect to registration of transfer, which shall be governed by the laws
of the State of Delaware. The Company and each Warrant Holder hereby consents and agrees that the
United States District Court for the Southern District of Florida or any court of the State of
Florida located in Indian River County, Florida, shall have, except as set forth below, exclusive
jurisdiction to hear and determine any claims or disputes between the Company and a Holder of
Warrants pertaining to this Agreement or the Warrants or to any matter arising out of or relating
to this Agreement or the Warrants, provided, that it is acknowledged that any appeals from those
courts may have to be heard by a court located outside of Indian River County, Florida.

[Signature Page Follows]

24

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement to be duly
executed on its behalf by a duly authorized officer or representative.

	 	 	 	 	 
	 	COMPANY:

XSTREAM SYSTEMS, INC.

 	 
	 	By:  	/s/ Anthony Chidoni	 
	 	 	Name:  	Anthony Chidoni	 
	 	 	Title:  	Secretary	 
	 
	 	HOLDERS:

 	 
	 	
 	 
	 	 	 
	 	 	 
	 

[Signature Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement to be
duly executed on its behalf by a duly authorized officer or representative.

COMPANY:

	 	 	 	 	 
	 	
XSTREAM SYSTEMS, INC.
 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

HOLDERS:

	 	 	 	 	 
	 	/s/ Simon Irish
 	 
	 	Simon Irish 	 
	 	 	 

[Signature
Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement
to be duly executed on its behalf by a duly authorized officer or representative.

COMPANY:

	 	 	 	 	 
	 	
XSTREAM SYSTEMS, INC.
 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

HOLDERS:

	 	 	 	 	 
	 	/s/
Debra Pipines
 	 
	 	Debra Pipines	 
	 	 	 

[Signature
Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement to be
duly executed on its behalf by a duly authorized officer or representative.

COMPANY:

	 	 	 	 	 
	 	
XSTREAM SYSTEMS, INC.
 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

HOLDERS:

	 	 	 	 	 
	 	/s/ E. D. Vaughn
 	 
	 	E. D. Vaughn	 
	 	 	 

[Signature
Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement
to be duly executed on its behalf by a duly authorized officer or representative.

COMPANY:

	 	 	 	 	 
	 	
XSTREAM SYSTEMS, INC.
 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

HOLDERS:

	 	 	 	 	 
	 	/s/
[ILLEGIBLE]
 	 
	 	[ILLEGIBLE]	 
	 	 	 

[Signature
Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement to
be duly executed on its behalf by a duly authorized officer or representative.

COMPANY:

	 	 	 	 	 
	 	
XSTREAM SYSTEMS, INC.
 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

HOLDERS:

	 	 	 	 	 
	 	/s/
James J. Coyne MD
 	 
	 	James J. Coyne MD	 
	 	 	 

[Signature
Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement
to be duly executed on its behalf by a duly authorized officer or representative.

COMPANY:

	 	 	 	 	 
	 	
XSTREAM SYSTEMS, INC.
 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

HOLDERS:

	 	 	 	 	 
	 	/s/ Mark S. Butler
 	 
	 	Mark S. Butler	 
	 	 	 

[Signature
Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement
to be duly executed on its behalf by a duly authorized officer or representative.

COMPANY:

	 	 	 	 	 
	 	
XSTREAM SYSTEMS, INC.
 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	HOLDERS:

 	 
	 	 	/s/ James J. Lowrey
 	 
	 	 	James J. Lowrey 	 

	 	 	 	 	 
	 	 	/s/ James J. Lowrey
 	 
	 	 	James J. Lowrey, Manager of HLG, LLC 	 

	 	 	 	 	 
	 	 	/s/ James J. Lowrey
 	 
	 	 	James J. Lowrey, Managing Partner 	 
	 	 	of JTW Partners 	 
	 

[Signature
Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement
to be duly executed on its behalf by a duly authorized officer or representative.

	 	 	 	 	 
	 	COMPANY:

        XSTREAM SYSTEMS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	HOLDERS:

ALAN AUSTIN LIVING TRUST

 	 
	 	By:  	/s/ Alan Austin
 	 
	 	 	Alan Austin, Truste 	 
	 	 	 	 
	 

[Signature
Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement
to be duly executed on its behalf by a duly authorized officer or representative.

	 	 	 	 	 	 
	 	COMPANY:
 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	 	Name:  	 	 
	 	 	 	Title:  	 	 
	 	 				
	 	HOLDERS:

 	 
	 	 	/s/ Dennis Ferro
 	 
	 	 	Dennis Ferro	 
	 	 				

[Signature Page to Series D Warrant Agreement]

 

 

REDACTED

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this
Agreement to be duly executed on Its behalf by a duly authorized officer or representative.

	 	 	 	 	 	 
	 	COMPANY:
 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	 	Name:  	 	 
	 	 	 	Title:  	 	 
	 	 				
	 	HOLDERS:

 	 
	 	 	/s/ Robert E. Kennedy
 	 
	 	 	Robert E. Kennedy 	 
	 	 	 	 
	 	 				

[Signature Page to Series D Warrant Agreement]

 

 

          IN WITNESS WHEREOF, each of the Company and the Holders have caused this Agreement to be
duly executed on its behalf by a duly authorized officer or representative.

	 	 	 	 	 	 
	 	COMPANY:

 	 
	 
	 	 	XSTREAM SYSTEMS, INC.	 
	 
	 	 	By:  	 	 
	 	 	 	Name:  	 	 
	 	 	 	Title:  	 	 
	 	 				
	 	HOLDERS:

 	 
	 	 	/s/ Anthony Chidoni
 	 
	 	 	Anthony Chidoni 	 
	 	 	 	 
	 	 				

[Signature Page to Series D Warrant Agreement]

 

 

EXHIBIT A

FORM OF WARRANT 

XSTREAM SYSTEMS, INC.

Series D Warrant to Purchase Shares of

Common Stock, par value $.0001 per Share

NEITHER THE WARRANTS REPRESENTED BY THIS CERTIFICATE NOR ANY OF THE SECURITIES ISSUABLE UPON
EXERCISE THEREOF HAVE BEEN REGISTERED PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, AND NEITHER THE WARRANTS REPRESENTED BY THIS CERTIFICATE NOR
ANY OF THE SECURITIES ISSUABLE UPON EXERCISE THEREOF MAY BE TRANSFERRED, SOLD, PLEDGED,
HYPOTHECATED OR OTHERWISE DISPOSED OF UNLESS SUCH DISPOSITION IS PURSUANT TO AN EFFECTIVE
REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933, AS AMENDED, AND ANY APPLICABLE STATE
SECURITIES LAWS, OR IS MADE IN A TRANSACTION EXEMPT FROM SUCH REGISTRATION REQUIREMENTS.

THE WARRANTS REPRESENTED BY THIS CERTIFICATE ARE SUBJECT TO THE PROVISIONS OF A WARRANT AGREEMENT,
DATED AS OF AUGUST 27, 2009, A COPY OF WHICH IS ON FILE WITH THE SECRETARY OF THE COMPANY.

THE TRANSFER, SALE, ASSIGNMENT, PLEDGE OR OTHER DISPOSITION OF THE SECURITIES REPRESENTED BY THIS
CERTIFICATE IS RESTRICTED BY AND SUBJECT TO THE TERMS AND CONDITIONS SPECIFIED IN THAT CERTAIN
SECOND AMENDED AND RESTATED SECURITYHOLDERS’ AGREEMENT, DATED AS OF AUGUST 27, 2009, AS AMENDED AND
MODIFIED FROM TIME TO TIME, AMONG XSTREAM SYSTEMS, INC. (THE “COMPANY”) AND CERTAIN
SECURITYHOLDERS, AND THE COMPANY RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL
SUCH CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO SUCH TRANSFER. A COPY OF SUCH SECOND AMENDED
AND RESTATED SECURITYHOLDERS’ AGREEMENT SHALL BE FURNISHED BY THE COMPANY TO THE HOLDER HEREOF UPON
WRITTEN REQUEST AND WITHOUT CHARGE.

No. ___

August 27, 2009

          This Series D Warrant Certificate entitles [                    ], and its permitted assigns,
to purchase from XStream Systems, Inc., a Delaware corporation (the “Company”), [___] shares
of duly authorized, validly issued, fully paid and nonassessable shares of common stock, par value
$0.0001 per share (the “Common Stock”), of the Company at the purchase price per share of $3.00
(subject to adjustment as provided in Section 5 of the hereinafter defined Warrant Agreement (as
so adjusted, the “Exercise Price”)), at any time or from time to time prior to 5:00

 

 

P.M., New York, New York time, on August 27, 2019 (such date, the “Expiration Date”), all
subject to the terms and conditions set forth in the Warrant Agreement, dated as of August 27, 2009
(as may be amended, modified or restated from time to time, the “Warrant Agreement”), by and among
the Company and the holders from time to time of the Warrants (the “Holders”). The warrants
represented by this Warrant Certificate are “Warrants” as defined and provided in the Warrant
Agreement and are entitled to the rights and obligations therein provided. The Warrants may be
exercised in whole or in part in the manner provided in the Warrant Agreement. The Warrant
Agreement is hereby incorporated by reference in and made a part of this Warrant Certificate and is
hereby referred to for a description of the rights, limitation of rights, obligations, duties and
immunities of the Company and the Holder.

          IN WITNESS WHEREOF, the Company has caused this Warrant Certificate to be executed and
delivered on its behalf by its duly authorized officers.

	 	 	 	 	 
	 	XSTREAM SYSTEMS, INC.

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

 

 

	 	 	 	 	 

ANNEX A

SUBSCRIPTION FORM

[To be executed only upon exercise of Warrant]

	 	 	 	The undersigned:
	 
	 	 	 	[check one]

	 	o	 	hereby irrevocably exercises this Warrant with respect to, and
hereby purchases,
	 
	 	o	 	in accordance with Section 3.2(e) of the Warrant Agreement,
hereby exercises this Warrant with respect to, and hereby purchases,
conditioned upon the simultaneous closing of the sale, in an offering
registered under the Securities Act or pursuant to the exercise of any
drag-along or co-sale rights under the Shareholders Agreement, of the shares as
to which this Warrant is being exercised and with the right to revoke such
exercise in the event that the closing of such sale shall not occur,

[                    ] shares of Common Stock as provided in the Warrant Agreement and herewith makes
payment of $[                    ] therefor, all at the price and on the terms and conditions specified in the
Warrant Agreement, and requests that certificates for the shares of Common Stock hereby purchased
(and any securities or other property issuable upon such exercise) be issued in the
name of and delivered to                                          (the “Proposed Stockholder”) whose address is
                                        , and, if such shares of Common Stock hereby exercised do not
equal the full number of shares of Common Stock for which this Warrant Certificate is exercisable,
that a new Warrant Certificate of like tenor and date for the balance of such shares be delivered
to the undersigned.

     
          In connection with the exercise of this Warrant, the undersigned has provided the Company
with:

          (i) if (x) the Shareholders Agreement (as defined in the Warrant Agreement) is in
effect and will remain in effect after the issuance of the shares and (y) the Proposed
Stockholder is not already a party to the Shareholders Agreement, a joinder agreement
pursuant to which the Proposed Stockholder shall become a party to the Shareholders
Agreement and

          (ii) if (x) the Registration Rights Agreement (as defined in the Warrant Agreement) is
in effect and the shares issuable upon this exercise constitute “Registrable Securities” (as
defined in the Registration Rights Agreement) and (y) the Proposed Stockholder is not
already a party to the Registration Rights Agreement, a joinder agreement pursuant to which
the Proposed Stockholder shall become a party to the Registration Rights Agreement;

 

 

provided that the foregoing clauses (i) and (ii) shall not apply to any exercise in
connection with the exercise of any drag-along or co-sale rights under the Shareholders Agreement.

	 	 	 	 	 
	 

	 	 

(Name)
	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	(Signature)	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	(Street Address)	 	 
	 
	 	 	 	 
	 

	 	 	 	 
	 

	 	(City) (State) (Zip Code)	 	 

			
	NOTICE:	 	Except as otherwise contemplated by Section 4.1 of the Warrant Agreement, the signature on
this subscription must correspond with the name as written upon the face of the within Warrant
Certificate in every particular, without alteration or enlargement or any change whatsoever.exv4w7

Exhibit 4.7

EXECUTION COPY

SECOND AMENDED AND RESTATED SECURITYHOLDERS’ AGREEMENT

Dated as of August 27, 2009

Among

XStream Systems, Inc.

and

Each of the Securityholders Named Herein

 

 

TABLE
OF CONTENTS

	 	 	 	 	 	 	 
		 	Page
	 
	 	 	 	 	 	 
	ARTICLE I DEFINITIONS	 	 	2	 
	 
	 	 	 	 	 	 
	1.1

	 	Certain Defined Terms
	 	 	2	 
	 
	 	 	 	 	 	 
	ARTICLE II TRANSFERS	 	 	10	 
	 
	 	 	 	 	 	 
	2.1

	 	General Prohibition on Transfers
	 	 	10	 
	2.2

	 	Holdback
	 	 	10	 
	2.3

	 	Transferees Required to Execute this Agreement
	 	 	10	 
	 
	 	 	 	 	 	 
	ARTICLE III RIGHT OF FIRST REFUSAL AND CO-SALE RIGHT ON
PROPOSED TRANSFERS OF SECURITIES	 	 	11	 
	 
	 	 	 	 	 	 
	3.1

	 	Right of First Refusal
	 	 	11	 
	3.2

	 	Procedure
	 	 	11	 
	3.3

	 	Over-Allotment Option
	 	 	12	 
	3.4

	 	Co-Sale Rights
	 	 	12	 
	3.5

	 	Transfer of Securities upon Failure to Exercise Rights
	 	 	13	 
	 
	 	 	 	 	 	 
	ARTICLE IV DRAG-ALONG OBLIGATIONS	 	 	14	 
	 
	 	 	 	 	 	 
	4.1

	 	Drag-Along Obligations of Securityholders
	 	 	14	 
	4.2

	 	Indemnification in Approved Sale
	 	 	14	 
	 
	 	 	 	 	 	 
	ARTICLE V PREEMPTIVE RIGHTS	 	 	15	 
	 
	 	 	 	 	 	 
	5.1

	 	Preemptive Rights
	 	 	15	 
	 
	 	 	 	 	 	 
	ARTICLE VI BOARD OF DIRECTORS AND VOTING AGREEMENT	 	 	16	 
	 
	 	 	 	 	 	 
	6.1

	 	Size and Composition of Board
	 	 	16	 
	6.2

	 	Committees of the Board
	 	 	16	 
	6.3

	 	Covenants of the Corporation
	 	 	17	 
	6.4

	 	Third Party Beneficiary
	 	 	17	 
	6.5

	 	Voting Agreement
	 	 	17	 
	6.6

	 	Expenses
	 	 	17	 
	 
	 	 	 	 	 	 
	ARTICLE VII GENERAL PROVISIONS	 	 	17	 
	 
	 	 	 	 	 	 
	7.1

	 	Termination
	 	 	17	 
	7.2

	 	Restrictions on Other Agreements
	 	 	18	 
	7.3

	 	Specific Enforcement
	 	 	18	 
	7.4

	 	Legend
	 	 	18	 
	7.5

	 	Confidentiality
	 	 	18	 
	7.6

	 	Notices
	 	 	19	 
	7.7

	 	Entire Agreement
	 	 	20	 
	7.8

	 	Governing Law
	 	 	20	 
	7.9

	 	Successors and Assigns
	 	 	20	 
	7.10

	 	Further Assurances
	 	 	20	 
	7.11

	 	Amendments and Waivers
	 	 	20	 
	7.12

	 	Addition of Securityholders
	 	 	20	 

i

 

Table
Of Contents
(continued)

	 	 	 	 	 	 	 
		 	Page
	 
	 	 	 	 	 	 
	7.13

	 	Severability
	 	 	20	 
	7.14

	 	Counterparts
	 	 	21	 
	7.15

	 	Interpretation
	 	 	21	 
	7.16

	 	Delivery by Facsimile
	 	 	21	 
	7.17

	 	Failure to Deliver Securities
	 	 	21	 
	 
	 	 	 	 	 	 
	Exhibits	 	 	 	 	 	 
	 
	 	 	 	 	 	 
	Exhibit A

	 	List of Securityholders	 	 	 	 
	Exhibit B

	 	Form of Joinder Agreement	 	 	 	 

ii

 

SECOND AMENDED AND RESTATED SECURITYHOLDERS’ AGREEMENT

     THIS SECOND AMENDED AND RESTATED SECURITYHOLDERS’ AGREEMENT (this “Agreement”) is dated as of
August 27, 2009 by and among XStream Systems, Inc., a Delaware corporation (the “Corporation”),
each of the Persons set forth on Exhibit A attached hereto and each other holder of
Securities (as hereinafter defined) that may hereafter become bound by the terms of this Agreement
(each a “Securityholder” and collectively, the “Securityholders”).

RECITALS

     WHEREAS, pursuant to the Original Purchase Agreement, certain of the Securityholders purchased
shares of the Series A Preferred Stock on the First Closing Date (the “First Round Investors”);

     WHEREAS, pursuant to the Original Purchase Agreement, certain of the Securityholders purchased
Series B Units on the Second Closing Date (the “Second Round Investors”);

     WHEREAS, pursuant to the Original Purchase Agreement, certain of the Securityholders purchased
additional Series B Units on the Third Closing Date (the “Third Round Investors”);

     WHEREAS, pursuant to numerous Equity Participation Closings (as defined in the Original
Purchase Agreement), certain of the Securityholders purchased Series C Units (the “Series C
Investors”);

     WHEREAS, concurrently with the execution of this Agreement, the Corporation is issuing and
selling up to an aggregate of Seven Hundred Thousand (700,000) shares of authorized and unissued
shares of Series D Preferred Stock along with Series D Warrants to the investors (the “Series D
Investors”) party to the Series D Preferred Stock Purchase Agreement with the Corporation, dated as
of the date of this Agreement (the “Series D Purchase Agreement”);

     WHEREAS, the First Round Investors, the Second Round Investors, the Third Round Investors, the
Series C Investors, certain other stockholders of the Corporation and the Corporation are parties
to an Amended and Restated Securityholders’ Agreement, dated as of the Second Closing Date, as
amended by that certain Amendment, dated as of the Third Closing Date, and as further amended by
that certain Second Amendment, dated as of June 1, 2009 (the “A&R Securityholders’ Agreement”),
which they desire to amend and restate, to among other things, allow the Series D Investors who are
not already parties to the A&R Securityholders’ Agreement to become parties thereto and to include
the Series D Preferred Stock and the Series D Warrants;

     WHEREAS, the Securityholders, collectively, are the holders of (i) a portion of the issued and
outstanding shares of the Common Stock, (ii) all of the issued and outstanding shares of the Series
A Preferred Stock, (iii) all of the issued and outstanding shares of the Series B Preferred Stock
and the Series B Warrants, (iv) all of the issued and outstanding shares of the

 

 

Series C Preferred Stock and the Series C Warrants and (v) all of the issued and outstanding
shares of the Series D Preferred Stock and the Series D Warrants with each respective
Securityholder owning the Securities set forth on Exhibit A attached hereto;

     WHEREAS, the Corporation and the Securityholders desire, among other things, to restrict the
transferability and ownership of the Securities and to provide for continuity and harmony in the
management and operation of the Corporation, and therefore desire to set forth their agreements
regarding the management of the Corporation and the ownership of the Securities; and

     WHEREAS, the execution and delivery of this Agreement by the Corporation and the holders of at
least a majority of the outstanding shares of Common Stock on a Fully-Diluted Basis (including a
majority of the Conversion Common Shares voting as a separate class and on a Fully-Diluted Basis)
is a condition to the obligations of the Series D Investors under the Series D Purchase Agreement.

     NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements
contained herein, and for other good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, the parties hereto hereby agree as follows:

ARTICLE I

DEFINITIONS

     1.1 Certain Defined Terms. As used in this Agreement, the following terms shall have the respective meanings set forth
below (capitalized terms used but not defined herein shall have the meanings set forth in the
Certificate of Incorporation):

          “A&R Securityholders’ Agreement” shall have the meaning specified in the recitals.

          “Affiliate” shall mean, with respect to any particular Person, any other Person that, directly
or indirectly controls, is controlled by or is under common control with such particular Person.
For the purpose of this definition, “control” means the possession, directly or indirectly, of the
power to direct the management and policies of a Person, whether through the ownership of voting
securities, by contract or otherwise.

          “Agreement” shall have the meaning specified in the preamble.

          “Amended Series B Designation” shall mean the Amended Certificate of Designation relating to
the Series B Preferred Stock filed with the Secretary of State of Delaware in connection with the
closing under the Series D Purchase Agreement, as may be amended from time to time.

          “Amended Series C Designation” shall mean the Amended Certificate of Designation relating to
the Series C Preferred Stock filed with the Secretary of State of Delaware
in connection with the closing under the Series D Purchase Agreement, as may be amended from
time to time.

-2-

 

          “Approved Sale” shall have the meaning specified in Section 4.1(a).

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

          “Certificate of Incorporation” shall mean the Corporation’s Certificate of Incorporation, as
amended to date (after giving effect to the filing of the Second Amended Series A Designation, the
Amended Series B Designation, the Amended Series C Designation and the Series D Certificate of
Designation with the Delaware Secretary of State), and as may be further amended or restated from
time to time.

          “Change of Control Event” shall mean with respect to the Corporation, either in a single
transaction or a series of transactions, (i) any sale or other disposition of the capital stock of
the Corporation, or the merger or consolidation of the Corporation resulting, directly or
indirectly, in greater than fifty percent (50%) of the issued and outstanding capital stock of the
Corporation being owned, in the aggregate, by any Person or Persons other than the Securityholders
or any of their Permitted Transferees or (ii) the sale or other disposition of all or substantially
all the assets of the Corporation; provided, however, a merger or consolidation of the Corporation
with or into a wholly-owned subsidiary that does not change the beneficial ownership (as such term
is defined in Rule 13d-3 and Rule 13d-5 promulgated under the Securities Exchange Act of 1934, as
amended) of the outstanding equity securities of the Corporation shall not be deemed a Change of
Control Event.

          “Common Stock” shall mean the common stock, $.0001 par value per share of the Corporation.

          “Confidential Information” shall have the meaning specified in Section 7.5(b).

          “Conversion Common Shares” shall mean:

          (i) any shares of Common Stock issued or issuable upon conversion of any shares of
Preferred Stock and

          (ii) any shares of Common Stock issued or issuable with respect to the securities
referred to in clause (i) above by way of stock dividend or stock split or in connection
with a combination of shares, recapitalization, merger, consolidation or other
reincorporation.

          “Corporation” shall have the meaning specified in the preamble.

          “Co-Sale Election Notice” shall have the meaning specified in Section 3.4(b).

          “Co-Sale Period” shall have the meaning specified in Section 3.4(b).

          “Co-Sale Pro Rata Share” shall have the meaning specified in Section 3.4(e).

          “Co-Sale Right” shall have the meaning specified in Section 3.4(a).

          “First Closing Date” shall mean March 14, 2007.

-3-

 

          “First Round Investors” shall have the meaning specified in the recitals and includes any
Permitted Transferees.

          “Fully-Diluted Basis” shall mean assuming the exercise, conversion or exchange of all (i)
options, warrants or other securities or rights to subscribe to or exercisable for the purchase of
Shares, whether or not immediately exercisable, or (ii) other securities that are convertible into
or exchangeable for, with or without payment of additional consideration in cash or property,
Shares, whether or not immediately exercisable.

          “Initial Public Offering” shall mean the Corporation’s initial public offering of Common Stock
pursuant to a registration statement declared effective under the Securities Act.

          “Investors” shall mean the First Round Investors, the Second Round Investors, the Third Round
Investors, the Series C Investors and the Series D Investors.

          “Investor Director” shall have the meaning specified in Section 6.1(b).

          “Joinder” shall mean a joinder agreement, in the form of Exhibit B hereto, which shall
be executed and delivered to the Corporation by each Person who becomes a Securityholder after the
date hereof.

          “Management Securityholder” shall mean each of Brian Mayo, William Mayo and Walter Helfrecht.

          “New Securities” shall mean any shares of capital stock of the Corporation, including Common
Stock and preferred stock (including the Preferred Stock), whether or not now authorized, and
rights, options or warrants to purchase shares of Common Stock or preferred stock (including the
Preferred Stock) and securities of any type whatsoever that are, or may by their terms become,
convertible into or exchangeable for shares of Common Stock or preferred stock; provided however,
“New Securities” shall not include the following:

          (i) shares of Common Stock issued upon the conversion of the Preferred Stock;

          (ii) the Warrants or any shares of Common Stock issued upon exercise of the Warrants;

          (iii) shares of Common Stock issued upon the exercise of Options or other Convertible
Securities outstanding as of the First Closing Date;

          (iv) securities issued pursuant to a Board-approved (including at least one of the
Investor Directors) acquisition of an entity by merger, purchase of substantially all of the
assets or other reorganization;

          (v) shares of Common Stock issued to Catalyst pursuant to the Options granted under the
Catalyst Letter Agreements;

-4-

 

          (vi) shares of Common Stock issued as a dividend or distribution on, or in connection
with a split of or recapitalization of, any of the capital stock of the Corporation;

          (vii) up to an aggregate of Eight Hundred Thousand (800,000) shares of Common Stock
reserved for issuance per year pursuant to the Option Plan (subject to adjustment in the
event of stock splits, stock dividends, stock combinations, recapitalizations and like
occurrences) and shares of Common Stock reserved for issuance pursuant to the Option Plan in
lieu of the repayment of certain salary deferrals as approved by a majority of the Board
(including at least one of the Investor Directors), which foregoing shares may be subject to
Options or restricted stock awards granted under the Option Plan; provided that any Options
that expire or terminate unexercised or any restricted stock awards that are repurchased by
the Corporation pursuant to the terms of such award shall not be counted toward the maximum
number set forth in this subparagraph (vii) unless and until such shares are subject to new
restricted stock awards (or new Options) pursuant to the terms of the Option Plan;

          (viii) shares of Common Stock issued or issuable (including pursuant to Options) to
suppliers or third-party service providers in connection with the provision of goods or
services pursuant to transactions in the ordinary course of business and approved by a
majority of the Board, including a majority of the Investor Directors;

          (ix) shares of Common Stock issued or issuable in connection with bona-fide sponsored
research, collaboration, technology license, development, OEM, marketing or other similar
agreements or strategic partnerships or joint ventures entered into in the ordinary course
of business and approved by a majority of the Board, including a majority of the Investor
Directors (and by at least a majority of the shares of Preferred Stock and Conversion Common
Shares, voting as a single class on a Fully-Diluted Basis, then outstanding, if required
pursuant to the Certificate of Incorporation;

          (x) securities issued in connection with a Qualified IPO;

          (xi) Permitted Issuances; or

          (xii) up to an aggregate of Three Hundred Thirty Thousand (330,000) shares of Common
that may be issued pursuant to options issued in substitution for outstanding options;

     provided that the aggregate number of shares of Common Stock issued or issuable pursuant to
clauses (viii) and (ix) above shall not exceed Three Hundred Fifty Thousand
(350,000) in any twelve (12) month period.

          “Non-Selling Securityholder” shall have the meaning specified in Section 3.2(a).

          “Offer Period” shall have the meaning specified in Section 3.4(a).

          “Option Plan” shall mean the Corporation’s Amended and Restated 2004 Stock Option Incentive
Plan, as amended by that certain First Amendment, dated as of July 23, 2009

-5-

 

          “Original Purchase Agreement” shall mean the Series A Preferred Stock Purchase Agreement,
dated as of the First Closing Date, as amended by a First Amendment dated as of the Second Closing
Date, as further amended by a Second Amendment dated as of the Third Closing Date, as further
amended by a Third Amendment dated as of October 16, 2008 and as further amended by a Fourth
Amendment dated as of February 26, 2009.

          “Over-Allotment Election Notice” shall have the meaning specified in Section 3.2(b).

          “Over-Allotment Election Period” shall have the meaning specified in Section 3.2(b).

          “Over-Allotment Notice” shall have the meaning specified in Section 3.2(b).

          “Over-Allotment Option” shall have the meaning specified in Section 3.3.

          “Over-Allotment Option Securities” shall have the meaning specified in Section 3.3.

          “Permitted Issuances” shall mean the issuance and sale of the Preferred Stock expressly
contemplated by the Original Purchase Agreement and the Series D Purchase Agreement.

          “Permitted Transferee” shall mean:

          (i) in the case of a Securityholder that is an entity, any Affiliate of such
Securityholder,

          (ii) in the case of a Securityholder who is a natural person, (x) the spouse or
descendant (whether by blood, adoption or marriage) of such Securityholder or (y) a trust,
partnership or other entity at least 90% of the equity and voting power of which is held by
such natural person or the individuals with respect to such natural person specified in
clause (x) and

          (iii) in the case of an Investor that is an entity, any Person holding an equity
interest (including a partnership interest or limited liability company interest) in such
Investor.

          “Person” shall mean an individual, a partnership, a corporation, a limited liability company,
an association, a joint stock company, a trust, a joint venture, an unincorporated organization, a
governmental entity or any department, agency or political subdivision thereof or any other entity.

          “Preemptive Right Holder” shall have the meaning specified in Section 5.1(a).

          “Preemptive Right Notice” shall have the meaning specified in Section 5.1(a).

          “Preemptive Rights Period” shall have the meaning specified in Section 5.1(a).

-6-

 

          “Preferred Stockholder” shall mean a holder of shares of Preferred Stock or Conversion Common
Shares.

          “Preferred Stock” shall mean the Series A Preferred Stock, the Series B Preferred Stock, the
Series C Preferred Stock and the Series D Preferred Stock.

          “Pro Rata Share” shall mean, with respect to any Non-Selling Securityholder, the fraction
obtained by dividing the total number of Securities (computed on a Common Stock equivalent basis)
then held by such Non-Selling Securityholder by the total number of Securities (computed on a
Common Stock equivalent basis) held by all Non-Selling Securityholders then outstanding.

          “Right of First Refusal” shall have the meaning specified in Section 3.1.

          “Right of First Refusal Election Notice” shall have the meaning specified in Section
3.2(a).

          “Right of First Refusal Election Period” shall have the meaning specified in Section
3.2(a).

          “Sale of the Corporation” shall mean either:

          (i) the sale, lease, Transfer, conveyance or other disposition, in one transaction or a
series of related or unrelated transactions, of all or substantially all of the assets of
the Corporation and its wholly-owned Subsidiaries, taken as a whole, or

          (ii) a transaction or series of related or unrelated transactions (including by way of
merger, consolidation, recapitalization, reorganization or sale or issuance of shares) the
result of which is that the holders of capital stock of the Corporation immediately prior to
such transaction are (after giving effect to such transaction) no longer (or their
respective Affiliates or their Permitted Transferees, are no longer), in the aggregate, the
“beneficial owners” (as such term is defined in Rule 13d-3 and Rule 13d-5 promulgated under
the Securities Exchange Act of 1934, as amended) directly or indirectly, through one or more
intermediaries, of more than 50% of the voting power of the outstanding voting securities of
the Corporation (or any successor thereto resulting from any such transaction(s)).

          “Second Amended Series A Designation” shall mean the Second Amended Certificate of Designation
relating to the Series A Preferred Stock filed with the Secretary of State of Delaware in
connection with the closing under the Series D Purchase Agreement, as may be amended from time to
time.

          “Second Closing Date” shall mean December 19, 2007.

          “Second Round Investors” shall have the meaning specified in the recitals and includes any
Permitted Transferees.

-7-

 

          “Securities” shall mean shares of Common Stock, shares of Preferred Stock, Series B Warrants,
Series C Warrants, Series D Warrants or one or more of the foregoing.

          “Securities Act” shall mean the Securities Act of 1933, as amended.

          “Securityholder” shall have the meaning specified in the preamble.

          “Selling Securityholder” shall have the meaning specified in Section 3.1.

          “Series A Preferred Stock” shall mean the Series A Redeemable Convertible Preferred Stock,
$.0001 par value per share of the Corporation.

          “Series B Preferred Stock” shall mean the Series B Redeemable Convertible Preferred Stock,
$.0001 par value per share of the Corporation.

          “Series B Unit” shall mean one share of Series B Preferred Stock and five (5) Series B
Warrants.

          “Series B Warrant” shall mean a warrant to purchase one share of Common Stock in the form
attached as Exhibit A to the Series B Warrant Agreement.

          “Series B Warrant Agreement” shall mean the Amended and Restated Series B Warrant Agreement,
dated as of the date of this Agreement, by and among the Corporation and the holders thereof.

          “Series C Investors” “ shall have the meaning specified in the recitals and includes any
Permitted Transferees.

          “Series C Preferred Stock” shall mean the Series C Redeemable Convertible Preferred Stock,
$.0001 par value per share of the Corporation.

          “Series C Unit” shall mean one share of Series C Preferred Stock and five (5) Series C
Warrants.

          “Series C Warrant” shall mean a warrant to purchase one share of Common Stock in the form
attached as Exhibit A to the Series C Warrant Agreement.

          “Series C Warrant Agreement” shall mean the Amended and Restated Series C Warrant Agreement,
dated as of the date of this Agreement, by and among the Corporation and the holders thereof.

          “Series D Investors” “ shall have the meaning specified in the recitals and includes any
Permitted Transferees.

          “Series D Preferred Stock” shall mean the Series D Redeemable Convertible Preferred Stock,
$.0001 par value per share of the Corporation.

          “Series D Warrant” shall mean a warrant to purchase one share of Common Stock in the form
attached as Exhibit A to the Series D Warrant Agreement.

-8-

 

          “Series D Warrant Agreement” shall mean the Series D Warrant Agreement, dated as of the date
of this Agreement, by and among the Corporation and the holders of the Series D Warrants, pursuant
to which the Series D Warrants are issued.

          “Shares” shall mean and include shares of Common Stock, shares of Preferred Stock, including
any Conversion Common Shares, and all other securities of the Corporation which may be convertible
into, exchangeable for, exercisable for or issued in exchange for or in respect of shares of Common
Stock or Preferred Stock, including any Conversion Common Shares (it being understood that for
purposes of determining any vote or consent of holders of Shares, the respective number of Shares
held by a Securityholder shall be determined on a Fully-Diluted Basis).

          “Subsidiary” shall mean, with respect to any Person, any corporation, limited liability
company, partnership, association or other business entity of which:

          (i) if a corporation, a majority of the total voting power of shares of stock entitled
(without regard to the occurrence of any contingency) to vote in the election of directors,
managers or trustees thereof is at the time owned or controlled, directly or indirectly, by
that Person or one or more of the other Subsidiaries of that Person or a combination
thereof, or

          (ii) if a limited liability company, partnership, association or other business
entity, a majority of the partnership or other similar ownership interest thereof is at the
time owned or controlled, directly or indirectly, by any Person or one or more of the other
Subsidiaries of that Person or a combination thereof.

For purposes hereof, a Person or Persons shall be deemed to have a majority ownership interest in a
limited liability company, partnership, association or other business entity if such Person or
Persons shall be allocated a majority of the gains or losses of such limited liability company,
partnership, association or other business entity or shall be or control (or have the power to
control) a managing director, manager or general partner of such limited liability company,
partnership, association or other business entity.

          “Third Closing Date” shall mean May 30, 2008.

          “Third Round Investors” shall have the meaning specified in the recitals and includes any
Permitted Transferees.

          “Transfer” shall mean any sale, transfer, assignment, pledge, mortgage, exchange,
hypothecation, gift, grant of a security interest or other direct or indirect disposition or
encumbrance of an interest (whether with or without consideration, whether voluntarily or
involuntarily or by operation of law or will or the laws of descent and distribution). The terms
“Transferee,” “Transferor,” “Transferred,” and other forms of the word “Transfer” shall have the
correlative meanings.

          “Transfer Notice” shall have the meaning specified in Section 3.2(a).

-9-

 

ARTICLE II

TRANSFERS

     2.1 General Prohibition on Transfers.

          (a) No Securityholder shall, directly or indirectly, Transfer any of such Securityholder’s
Securities except (i) in accordance with the terms and conditions of this Agreement or (ii) to any
Permitted Transferee. Any Transfer made or attempted in violation of this Agreement shall be null
and void.

          (b) Notwithstanding anything to the contrary contained in this Agreement, no Management
Securityholder shall Transfer any of such Management Securityholder’s Securities other than to a
Permitted Transferee until March 14, 2012.

          (c) Each Securityholder agrees not to, directly or indirectly, Transfer any of such
Securityholder’s Securities to any Person whose activities, products or services directly compete
with the activities, products or services of the Corporation as reasonably determined in good faith
by the Board as of the date of such proposed Transfer; provided that the foregoing limitation shall
not apply to Transfers registered under the Securities Act or Rule 144 promulgated thereunder. The
Corporation may impose stop transfer instructions with its transfer agent in order to enforce the
foregoing limitation.

     2.2 Holdback. Each Securityholder agrees not to effect any public sale or distribution (including sales
pursuant to Rule 144 promulgated under the Securities Act (as such rule may be amended from time to
time) of Securities, or any securities, options or rights convertible into or exchangeable or
exercisable for Securities, or to lend, offer, pledge, contract to sell, sell any option or
contract to purchase, purchase any option or contract to sell, grant any option, right or warrant
to purchase, or otherwise transfer or dispose of, directly or indirectly, any Securities, or any
securities, options or rights convertible into or exchangeable or exercisable for Securities, or
enter into any swap or other arrangement that transfers to another, in whole or in part, any of the
economic consequences associated with ownership of the Securities, during the period beginning on
the effective date of the registration statement relating to the Initial Public Offering and ending
on the date specified by the Corporation and the underwriters managing such offering (such period
not to exceed one hundred eighty (180) days), except as part of such offering and unless the
underwriters managing such offering otherwise agree. Each Securityholder agrees to execute the
standard lock-up agreement of the underwriters managing such offering reflecting the foregoing. In
order to enforce the foregoing, the Corporation may impose stop-transfer instructions with respect
to the Securities of each Securityholder until the end of such period.

     2.3 Transferees Required to Execute this Agreement. With respect to any Transfer of Securities by a Securityholder to any Transferee (including a
Permitted Transferee), such Transferee shall, as a condition precedent to such Transfer, (a)
execute and deliver to the Corporation a Joinder, pursuant to which such Transferee shall agree to
be bound by the provisions of this Agreement to the same extent as the Transferor, and (b) execute
any other documents or agreements reasonably requested by the Board.

-10-

 

ARTICLE III

RIGHT OF FIRST REFUSAL AND CO-SALE RIGHT

ON PROPOSED TRANSFERS OF SECURITIES

     3.1 Right of First Refusal. 
Each Securityholder hereby grants to (a) each Preferred Stockholder and (b) the Corporation a
right of first refusal (a “Right of First Refusal”) to purchase any or all Securities which such
Securityholder (the “Selling Securityholder”) may, from time to time, propose to Transfer (other
than with respect to a Transfer to a Permitted Transferee).

     3.2 Procedure.

          (a) In the event a Selling Securityholder wishes to make a Transfer of Securities (other than
with respect to a Transfer to a Permitted Transferee), the Selling Securityholder shall deliver
written notice (the “Transfer Notice”) to the Corporation specifying, in reasonable detail, (i) its
bona fide intention to Transfer such Securities, (ii) the type of Securities to be Transferred,
(iii) the number of such Securities to be Transferred, (iv) the proposed price per security
therefor and material terms and conditions upon which the proposed Transfer is to be made, (v) the
identity of each of the proposed Transferees and (vi) all other information reasonably necessary or
requested by the Corporation to fully describe and confirm the bona fide nature of the proposed
Transfer. As soon as practicable after the receipt of the Transfer Notice, the Corporation shall
distribute such Transfer Notice to each Preferred Stockholder (or, in the case of a Selling
Securityholder that is a Preferred Stockholder, to each other Preferred Stockholder) (the
“Non-Selling Securityholders”). Each Non-Selling Securityholder shall have fifteen (15) days from
the date of the receipt of the Transfer Notice (the “Right of First Refusal Election Period”) to
exercise its Right of First Refusal to purchase such Non-Selling Securityholder’s respective Pro
Rata Share (but not less than such Non-Selling Securityholder’s Pro Rata Share) of the Securities
subject to the Transfer Notice (for the price and upon the terms specified therein). If any
Non-Selling Securityholder elects to purchase its respective Pro Rata Share, such Non-Selling
Securityholder shall notify the Corporation and the Selling Securityholder within the Right of
First Refusal Election Period by written notice (the “Right of First Refusal Election Notice”).

          (b) If, after the expiration of the Right of First Refusal Election Period, any Non-Selling
Securityholder has not exercised its Right of First Refusal to purchase its respective Pro Rata
Share, the Corporation shall, within five (5) days of the expiration of the Right of First Refusal
Election Period, provide the other Non-Selling Securityholders with written notice (the
“Over-Allotment Notice”) indicating the aggregate amount of Securities as to which all Non-
Selling Securityholders shall not have exercised their Rights of First Refusal. Each
Non-Selling Securityholder who shall have elected to purchase its full Pro Rata Share of the
Securities proposed to be Transferred by the Selling Securityholder shall have ten (10) days upon
receipt of the Over-Allotment Notice (the “Over-Allotment Election Period”) to give notice (the
“Over-Allotment Election Notice”) to the Corporation and the Selling Securityholder whether it
elects to exercise its Over-Allotment Option granted in Section 3.3.

          (c) If, after expiration of the Over-Allotment Election Period, the Non-Selling
Securityholders in the aggregate have elected not to purchase all of the Securities subject to the

-11-

 

Transfer Notice, then the Corporation shall have ten (10) days from the expiration of the
Over-Allotment Election Period to purchase any or all of the Securities subject to the Transfer
Notice and not purchased by the Non-Selling Securityholders by delivering written notice to the
Selling Securityholder.

          (d) If the Corporation or any Non-Selling Securityholder shall have failed to deliver to the
Selling Securityholder or the Corporation written notice with respect to its Right of First Refusal
within the time periods described in this Section 3.2, it shall be deemed to have waived
the rights described herein.

          (e) Settlement for the Securities to be purchased by either the Corporation or any Non-Selling
Securityholder pursuant to this Section 3.2 shall be made in cash within fifty (50) days
from the Corporation’s deemed date of receipt of the Transfer Notice; provided, however, that if
the terms of payment for the Securities specified in the Transfer Notice were for other than cash
against delivery, each of the Corporation and the Non-Selling Securityholders may pay to the
Selling Securityholder the fair market value of such consideration (as determined in good faith by
the Board) in cash.

     3.3 Over-Allotment Option.
In the event that the Non-Selling Securityholders, in the aggregate, do not purchase all of
the Securities offered by the Selling Securityholder pursuant to the Right of First Refusal
described in this Article III, then any Non-Selling Securityholder that shall have
exercised its Right of First Refusal to purchase its full Pro Rata Share of such Securities shall
also have the right (the “Over-Allotment Option”) to purchase up to all of its respective Pro Rata
Share among such Non-Selling Securityholders (or such other proportion as may be agreed to by all
of the Non-Selling Securityholders that have exercised their Rights of First Refusal) of the
remaining Securities (the “Over-Allotment Option Securities”) offered in accordance with this
Section 3.3, in addition to such Securities it has already elected to purchase, as provided
in Section 3.2(b).

     3.4 Co-Sale Rights.

          (a) If, after the expiration of the forty (40) day period beginning on the Corporation’s
deemed receipt of the Transfer Notice (the “Offer Period”), the Corporation and the Non-Selling
Securityholders have not elected to purchase, in aggregate, all of the Securities subject to the
Transfer Notice, then each of the Non-Selling Securityholders shall have a co-sale
right (a “Co-Sale Right”) to sell, upon the terms and conditions contained in the applicable
Transfer Notice and in accordance with the procedures set forth in this Section 3.4 (it
being understood that, if more than one class or type of Securities is to be sold, the relative
prices of such Securities shall be determined as provided in Section 3.4(d))), to the
proposed Transferee up to that number of Securities of the same class or type proposed to be
Transferred equal to its Co-Sale Pro Rata Share (as defined below); provided, however, that if the
Selling Securityholder is Transferring Common Stock, each of the Non-Selling Securityholders may
sell shares of Preferred Stock (the number of which shall be determined on an as-converted basis)
to the proposed Transferee; provided further that notwithstanding the immediately preceding
proviso, in the event that a Non-Selling Securityholder that wishes to exercise its Co-Sale Right
holds Securities of the same class or type proposed to be Transferred by the Selling
Securityholder,

-12-

 

such Non-Selling Securityholder must sell such Securities to the proposed
Transferee prior to selling Securities of any other class or type to the proposed Transferee.

          (b) Each Non-Selling Securityholder shall have fifteen (15) days from the expiration of the
Offer Period (the “Co-Sale Period”) to exercise its Co-Sale Right as provided in this Section
3.4 by delivering written notice (the “Co-Sale Election Notice”) to the Selling Securityholder,
with a copy to the Corporation. The Co-Sale Election Notice shall specify the number of Securities
that such Non-Selling Securityholder elects to sell (up to such Co-Sale Pro Rata Share). A
Non-Selling Securityholder’s failure to deliver a Co-Sale Election Notice with respect to such
Securities within the Co-Sale Period shall be deemed a waiver of its Co-Sale Right with respect to
the proposed Transfer.

          (c) If a prospective Transferee refuses to purchase Securities from a Non-Selling
Securityholder exercising its Co-Sale Right hereunder, the Selling Securityholder shall not sell
any Securities to such prospective Transferee unless and until, simultaneously with such sale, the
Selling Securityholder shall purchase such Securities from the Non-Selling Securityholder for the
same consideration (or cash equal to the fair market value thereof as determined in good faith by a
majority of the Board) and on the same terms and conditions as the proposed Transfer described in
the Transfer Notice.

          (d) In the event that a Non-Selling Securityholder has delivered a Co-Sale Election Notice
with respect to Securities that are of a class or type other than the class or type being sold by
the Selling Securityholder to the proposed Transferee, the price per share to be paid by the
proposed Transferee for such Non-Selling Securityholder’s Securities shall be determined in good
faith by a majority of the Board and shall be equal on a relative basis to the price per share
being paid by the proposed Transferee for the Selling Securityholder’s Securities, taking into
account the relative rights and privileges of the respective classes of Securities.

          (e) Each Non-Selling Securityholder’s “Co-Sale Pro Rata Share” with respect to any proposed
Transfer is that number of Securities equal to the product obtained by multiplying (i) the
aggregate number of shares of Common Stock (calculated on a Fully-Diluted Basis) subject to the
Transfer Notice by (ii) a fraction, (x) the numerator of which is the number of shares of
Common Stock (calculated on a Fully-Diluted Basis) then held by such Non-Selling Securityholder and
(y) the denominator of which is the total number of shares of Common Stock then outstanding
(calculated on a Fully-Diluted Basis).

     3.5 Transfer of Securities upon Failure to Exercise Rights.
The Selling Securityholder may, during the 60-day period following the expiration of the
Co-Sale Period, conclude a Transfer of any or all of the Securities covered by the Transfer Notice
and not otherwise subject to the Right of First Refusal or Co-Sale Right, on terms and conditions
the same or the same in all material respects as those described in the Transfer Notice; provided,
however, that if the Selling Securityholder fails to consummate the proposed Transfer described in
the Transfer Notice during the 60-day period following the expiration of the Co-Sale Period, or if
a proposed Transfer is to be consummated on terms that are not the same in all material respects as
those disclosed in the Transfer Notice or with a proposed Transferee other than that identified in
the Transfer Notice, then the Selling Securityholder shall be required to comply anew with the
requirements of this Article III prior to consummating the proposed Transfer.

-13-

 

ARTICLE IV

DRAG-ALONG OBLIGATIONS

     4.1 Drag-Along Obligations of Securityholders.

          (a) For so long as the Investors own (or would own after giving effect to all of the
transactions contemplated by the Original Purchase Agreement and the Series D Purchase Agreement)
at least 20% of the outstanding Securities (on a Fully-Diluted Basis), if the Board (including a
majority of the Investor Directors (as defined below) and a majority of the holders of outstanding
shares of Common Stock and Preferred Stock (voting on a Common Stock equivalent basis) approve a
Sale of the Corporation (an “Approved Sale”), then each Securityholder covenants and agrees to vote
for, consent to and raise no objections against such Approved Sale. If the Approved Sale is
structured as a (x) merger or consolidation, each Securityholder covenants and agrees to waive any
dissenters’ rights, appraisal rights or similar rights in connection with such merger or
consolidation, (y) sale of Securities, each Securityholder covenants and agrees to sell all of his,
her or its Securities and rights to acquire Securities on the terms and conditions so approved or
(z) sale of all or substantially all of the assets of the Corporation, each Securityholder
covenants and agrees to approve any subsequent liquidation of the Corporation in connection
therewith. In addition, each Securityholder covenants and agrees to take all necessary or
desirable actions in connection with the consummation of the Approved Sale as requested by the
Board.

          (b) Conditions to Drag-Along Obligations. The obligations of the Securityholders
described in Section 4.1(a) with respect to an Approved Sale are subject to the
satisfaction of the following conditions: (i) upon the consummation of the Approved Sale, each
Securityholder shall receive the same portion of the aggregate consideration that such
Securityholder would have received if such aggregate consideration had been distributed by the
Corporation in complete liquidation pursuant to the rights and preferences set forth in the
Certificate of Incorporation as in effect immediately prior to such Approved Sale (giving effect to
applicable orders of priority); and (ii) upon the consummation of any such Approved Sale, all
of the Securityholders of a particular class of Securities shall receive (or shall have the
option to receive) the same form of consideration.

     4.2 Indemnification in Approved Sale.

          (a) In connection with any Approved Sale, the Securityholders shall be obligated to join on a
pro rata basis (based on each such Securityholder’s share of the aggregate proceeds paid with
respect to its equity interest in the Corporation) in any indemnification obligation agreed to in
connection with such Approved Sale (other than any such obligations that relate specifically to a
particular Securityholder such as indemnification with respect to representations and warranties
given by a Securityholder regarding such Securityholder’s title to and ownership of Securities);
provided, that (x) no such Securityholder shall be obligated in connection with such Approved Sale
to indemnify the prospective Transferee or its Affiliates with respect to an amount in excess of
the net cash proceeds paid to such Securityholder in connection with such Approved Sale; (y) any
escrow of proceeds of any such transaction shall be withheld on a pro rata basis among all
Securityholders; and (z) each such Securityholder shall

-14-

 

pay its Pro Rata Share of the expenses
incurred by the Securityholders in connection with such Approved Sale.

          (b) Notwithstanding anything contained in this Agreement, in no event will any Securityholder
be required to make any representations or warranties in connection with an Approved Sale that are
joint and several with any other Securityholder(s) or that pertain to matters other than title to
the Common Stock or other securities held by such Securityholder, such Securityholder’s capacity,
authority or power to consummate or participate in the transaction in question and other matters
peculiar to such Securityholder and customary for the type of transaction being consummated.

ARTICLE V

PREEMPTIVE RIGHTS

     5.1 Preemptive Rights.

          (a) If the Corporation proposes to issue or sell any New Securities after the date hereof, the
Corporation shall notify in writing each Preferred Stockholder (each a “Preemptive Right Holder”)
of such proposed transaction (the “Preemptive Right Notice”). The Preemptive Right Notice shall
describe the proposed issuance or sale, identify the proposed buyer and contain an offer to sell to
each Preemptive Right Holder, at the same price and for the same consideration (subject to the last
sentence of this paragraph) to be paid by the proposed buyer, additional New Securities of the same
class and type being offered to the proposed buyer in an amount equal to the product obtained by
multiplying (i) the number of New Securities being offered to the proposed buyer by (ii) a
fraction, (x) the numerator of which is the number of shares of Preferred Stock and Conversion
Common Shares held by such Preemptive Right Holder (calculated on a Fully-Diluted Basis) and (y)
the denominator of which is the total number of shares of Preferred Stock and Conversion Common
Shares then outstanding (on a
Fully-Diluted Basis). If the purchase price for the New Securities to be paid by the proposed
buyer is in some form other than cash, then a Preemptive Right Holder may pay for the additional
New Securities it is entitled to purchase hereunder in cash (with the fair market value of any
non-cash consideration to be paid by such buyer to be determined in good faith by the Board). A
Preemptive Right Holder shall have fifteen (15) days from the receipt of a Preemptive Right Notice
(the “Preemptive Rights Period”) to accept the offer contained in such Preemptive Right Notice, and
any purchase of New Securities by a Preemptive Right Holder shall be made within 30 days of receipt
of the Preemptive Right Notice by such Preemptive Right Holder.

          (b) If any Preemptive Right Holder fails to accept the offer contained in the Preemptive Right
Notice within the Preemptive Rights Period, the Corporation shall be entitled to sell such New
Securities free of any right on the part of such Preemptive Right Holder under this Section
5.1 during the one hundred eighty (180) days following the expiration of the Preemptive Rights
Period at a price not less than, and on other terms and conditions not more favorable than, that
offered to such Preemptive Right Holder. Any New Securities offered or sold by the Corporation
thereafter must be reoffered to all Preemptive Right Holders, in accordance with the terms of this
Section 5.1.

-15-

 

ARTICLE VI

BOARD OF DIRECTORS AND VOTING AGREEMENT

     6.1 Size and Composition of Board.
From and after the date of this Agreement and until the termination hereof in accordance with
Section 7.1, each Securityholder shall vote all of its shares of Preferred Stock and Common
Stock and any other voting Securities of the Corporation over which such Securityholder has voting
control and shall take all other necessary or desirable actions within its control (whether in its
capacity as a stockholder, director, member of a committee of the Board or otherwise, and
including, without limitation, attendance at meetings in person or by proxy for purposes of
obtaining a quorum and execution of written consents in lieu of meetings), and the Corporation
shall take all necessary or desirable actions within its control (including, without limitation,
calling special Board and stockholder meetings), so that:

          (a) the authorized number of directors on the Board shall be established at, and shall remain
during the term of this Agreement fixed at, eleven (11) directors, except for any increases in the
size of the Board provided for upon the occurrence of certain events set forth in the Certificate
of Incorporation;

          (b) for so long as any shares of Preferred Stock or Conversion Common Shares remain
outstanding, three (3) persons nominated by the holders of a majority of shares of Common Stock (on
a Fully-Diluted Basis) held by the Preferred Stockholders shall be elected to the Board (any
director nominated or designated pursuant to this Section 6.1(b) or 6.1(c), an
“Investor Director”);

          (c) if any Investor Director ceases to serve as a member of the Board during his or her term
of office, whether due to such director’s death, resignation or removal (subject to Section
6.1(d)), then the resulting vacancy shall be filled by a representative designated by the
holders of a majority of shares of Preferred Stock and Conversion Common Shares (voting on a
Common Stock equivalent basis) held by the Preferred Stockholders; and

          (d) no Investor Director shall be removed from the Board without the written consent of the
holders of a majority of shares of Preferred Stock and Conversion Common Shares (voting on a Common
Stock equivalent basis) held by the Preferred Stockholders.

     6.2 Committees of the Board.

          (a) The Board shall establish and maintain a compensation committee which shall recommend to
the Board for approval the compensation of the senior management of the Corporation and each
Subsidiary of the Corporation (including any stock option grants, bonus levels and all other
decisions relating to the administration of any stock option or bonus agreement or program). The
compensation committee shall be composed of three (3) members, one of whom shall be an Investor
Director.

          (b) If the Board establishes and maintains an audit committee, such audit committee shall have
delegated to it all power of the Board to carry out the customary duties of an audit committee.
Any such audit committee shall be composed of three (3) members, one (1) of whom shall be an Investor Director.

-16-

 

     6.3 Covenants of the Corporation.
The Corporation agrees to use its best efforts to ensure that the rights granted hereunder are
effective and that the parties hereto enjoy the benefits thereof. Such actions include the use of
the Corporation’s best efforts to cause the nomination and election of the directors as provided
above. The Corporation shall not, by any voluntary action, avoid or seek to avoid the observance
or performance of any of the terms to be performed hereunder by the Corporation, but will at all
times in good faith assist in the carrying out of all of the provisions of this Agreement and in
the taking of all such actions as may be necessary, appropriate or reasonably requested in order to
protect the rights of the parties hereunder against impairment.

     6.4 Third Party Beneficiary.
Each Securityholder agrees that the Corporation shall be a third party beneficiary under this
Agreement and that, as such, the Corporation shall be empowered to demand, through legal action or
otherwise, the strict adherence by each Securityholder to the terms hereof and the enforcement of
this Agreement. In addition, the Corporation shall be entitled to recover damages from any
Securityholder who breaches this Agreement.

     6.5 Voting Agreement.
Section 6.1 of this Agreement is intended to constitute a voting agreement in
accordance with Section 218(c) of the General Corporation Law of the State of Delaware.

     6.6 Expenses.
The Corporation will reimburse each director for his or her reasonable out-of-pocket expenses
incurred in attending any meeting of the Board or any committee of the Board.

ARTICLE VII

GENERAL PROVISIONS

     7.1 Termination.
This Agreement shall terminate, and all rights and obligations hereunder shall cease (other
than the provisions of Article IV, the final sentence of this Section 7.1, and
Sections 7.5 through 7.8 and 7.13 through 7.17), upon the
occurrence of any of the following events:

          (a) The liquidation or dissolution of the Corporation, whether voluntary or involuntary,
unless incidental to a reorganization of the Corporation or the distribution of its assets to a
parent company;

          (b) The adjudication of the Corporation as bankrupt, the execution by it of an assignment for
the benefit of creditors or the appointment of a receiver for the Corporation or a material portion
of its assets, if such appointment is not vacated within 90 days after the effective date of such
appointment;

          (c) The written consent of (i) the Corporation and (ii) the holders of a majority of the
shares of Common Stock (on a Fully-Diluted Basis) held by the Securityholders party hereto,
including a majority of the Conversion Common Shares, voting separately as a single class on a
Fully-Diluted Basis;

          (d) A Change of Control Event; or

-17-

 

          (e) A Qualified IPO (as defined in the Certificate of Incorporation).

          Upon the expiration or termination of this Agreement, the restrictive legend set forth in
Section 7.4 shall promptly be removed from all certificates representing Securities.

     7.2 Restrictions on Other Agreements.
No Securityholder shall enter into any stockholder agreement or other arrangements of any kind
with any Person with respect to the Securities on terms inconsistent with the provisions of this
Agreement (whether or not such agreements and arrangements are with other Securityholders),
including agreements or arrangements with respect to the acquisition, disposition or voting of
Securities.

     7.3 Specific Enforcement.
Each Securityholder expressly agrees that the other Securityholders will be irreparably
damaged if this Agreement is not specifically enforced. Upon a breach or threatened breach of the
terms, covenants or conditions of this Agreement by any Securityholder, each of the other
Securityholders shall, in addition to all other remedies, be entitled to a temporary or permanent
injunction, without showing any actual damage, and/or a decree for specific performance, in
accordance with the provisions hereof.

     7.4 Legend.
Each certificate or instrument representing any of the Securities shall bear a legend in
substantially the following form:

“THE TRANSFER, SALE, ASSIGNMENT, PLEDGE OR OTHER DISPOSITION OF THE SECURITIES
REPRESENTED BY THIS CERTIFICATE IS RESTRICTED BY AND SUBJECT TO THE TERMS AND
CONDITIONS SPECIFIED IN THAT CERTAIN SECOND AMENDED AND RESTATED SECURITYHOLDERS’
AGREEMENT, DATED AS OF AUGUST 27, 2009, AS AMENDED AND MODIFIED FROM TIME TO TIME,
AMONG XSTREAM SYSTEMS, INC. (THE “COMPANY”) AND CERTAIN SECURITYHOLDERS, AND THE
COMPANY RESERVES THE RIGHT TO REFUSE THE TRANSFER OF SUCH SECURITIES UNTIL SUCH
CONDITIONS HAVE BEEN FULFILLED WITH RESPECT TO SUCH TRANSFER. A COPY OF SUCH SECOND
AMENDED AND RESTATED SECURITYHOLDERS AGREEMENT SHALL BE FURNISHED BY THE COMPANY TO
THE HOLDER HEREOF UPON WRITTEN REQUEST AND WITHOUT CHARGE.”

     7.5 Confidentiality.

          (a) Each Securityholder agrees to keep all Confidential Information (as defined below)
confidential and not use or disclose such information to others during the term of this Agreement
and at all times thereafter, except (i) to such Securityholder’s attorneys, accountants or
financial advisors, provided that, prior to any such disclosure, such Securityholder has delivered
written notice to such attorneys, accountants and financial advisors that the information is
subject to prohibitions upon use or disclosure pursuant to the terms of this Agreement, and
provides the Corporation concurrently with a copy of each such notice or (ii) as required by law.
In the event any Securityholder is no longer a securityholder of the Corporation, such
securityholder shall neither take nor retain, without prior written authorization

-18-

 

from the
Corporation, any other Confidential Information, or copies thereof, of any kind belonging to the
Corporation. Without limiting other possible rights or remedies to the Corporation for such
Securityholder’s breach of this covenant, each Securityholder acknowledges and agrees that
injunctive or other equitable relief shall be available to the Corporation to enforce this
covenant, without having to post a bond, cash or otherwise.

     (b) “Confidential Information” means and shall include any and all of the following: (i) the
parties to this Agreement; (ii) the respective ownership or other economic interest that each
Securityholder has with respect to the Corporation; and (iii) all trade secrets, know-how, and all
information concerning the business and affairs of the Corporation and its Subsidiaries (including
historical financial statements, financial projections and budgets,
historical and projected sales, capital spending budgets and client data and information),
however documented, that has been or may hereafter be provided or shown to a Securityholder by the
Corporation or by the directors, officers, employees, agents, consultants, advisors or other
representatives, including legal counsel, accountants and financial advisors, of the Corporation.
Confidential Information does not include information which (i) is in the public domain; (ii) is
received by a Securityholder outside of the Securityholder’s relationship with the Corporation or
any of its Subsidiaries from a party not directly or indirectly under an obligation of
confidentiality to the Corporation or its Subsidiaries; (iii) later becomes public, unless such
information is made public by the Securityholder in breach of this Agreement or by any other party
directly or indirectly under an obligation of confidentiality to the Corporation or its
Subsidiaries; or (iv) which a Securityholder is required to disclose by or to any court of
competent jurisdiction or any other governmental or quasi-governmental agency, authority or
instrumentality of competent jurisdiction; provided, that such Securityholder shall, prior
to any such disclosure, immediately notify the Corporation or the Securityholder to which the
information required to be disclosed relates of such requirement in order to allow the Corporation
or such affected Securityholder a reasonable opportunity to seek protective measures of such
Confidential Information.

     7.6 Notices.
Any notices required or permitted to be sent hereunder to a Securityholder shall be delivered
personally, transmitted by fax, mailed via certified mail (return receipt requested) or delivered
by overnight courier service to the address set forth on the stock record books of the Corporation,
or such other address as shall be given by notice delivered hereunder, and shall be deemed to have
been given upon delivery if delivered personally, upon receipt of confirmation of transmission if
transmitted by fax, three (3) business days after mailing if mailed, or one business day after
delivery to the courier if delivered by overnight courier service. Any notices to the Corporation
shall be sent to the following:

	 	 	 
	XStream Systems, Inc.

	 	With a copy to:
	10305 102nd Terrace

	 	Greenberg Traurig, P.A.
	Suite 101

	 	5100 Town Center Circle
	Sebastian, FL 32958

	 	Suite 400
	Attention: Chief Executive Officer

	 	Boca Raton, FL 33486
	Facsimile: (772) 589-4622

	 	Attention: Bruce C. Rosetto
	
	 	Facsimile: (561) 367-6225
	 

	 	

-19-

 

     7.7 Entire Agreement.
This Agreement constitutes the entire agreement of the parties with respect to the subject
matter hereof and supersedes all prior agreements, arrangements and understandings between or among
the parties hereto (whether written or oral), including that certain Stockholders Agreement, dated
as of October 7, 2004, among the Corporation, the Investors named therein and Brian Mayo, and the
Original Stockholders Agreement.

     7.8 Governing Law.
This Agreement shall be governed by the laws of the State of Delaware without regard to the
choice of law provisions of such State or any other State.

     7.9 Successors and Assigns.
This Agreement shall be binding upon and inure to the benefit of the parties hereto and their
respective heirs, executors, legal representatives, successors and Permitted Transferees.

     7.10 Further Assurances.
The parties hereto agree, upon the reasonable request of the Board, to execute any further
documents or instruments necessary or desirable to carry out the purposes or intent of this
Agreement.

     7.11 Amendments and Waivers.
The provisions of this Agreement may be amended or waived at any time only by the written
agreement of (i) the Corporation and (ii) the holders of a majority of the shares of Common Stock
(on a Fully-Diluted Basis) held by the Securityholders party hereto, including a majority of the
Conversion Common Shares, acting separately as a single class on a Fully-Diluted Basis, provided
that if a proposed waiver or amendment would treat any Securityholder in respect of such
Securityholder’s Securities differently from the other Securityholders holding the same Securities,
then the consent of such Securityholder shall be required to effect any such waiver or amendment.
Any waiver, permit, consent or approval of any kind or character on the part of any such holders of
any provision or condition of this Agreement must be made in writing and shall be effective only to
the extent specifically set forth in writing. The failure of any party hereto to enforce at any
time any provision of this Agreement shall not be construed to be a waiver of such provision, nor
in any way to affect the validity of this Agreement or any part hereof or the right of any party
hereafter to enforce each and every such provision. No waiver of any breach of this Agreement
shall be held to constitute a waiver of any other or subsequent breach.

     7.12 Addition of Securityholders.
As requested by the Corporation, this Agreement shall be binding upon additional
securityholders upon the acquisition by them of capital stock of the Corporation, and upon
execution of a Joinder by the additional securityholder and the Corporation, as if all such
signatories were original signatories to this Agreement, as Securityholders.

     7.13 Severability.
If any provision of this Agreement shall be held to be illegal, invalid or unenforceable, such
illegality, invalidity or unenforceability shall attach only to such provision and shall not in any
manner affect or render illegal, invalid or unenforceable any other provision of this Agreement,
and this Agreement shall be carried out as if any such illegal, invalid or unenforceable provision
were not contained herein.

-20-

 

     7.14 Counterparts.
This Agreement may be executed in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same instrument.

     7.15 Interpretation.
For purposes of this Agreement, (i) the words “include,” “includes” and “including” shall be
deemed to be followed by the words “without limitation,” (ii) the word “or” is not exclusive and
(iii) the words “herein,” “hereof,” “hereby,” “hereto” and “hereunder” refer to this Agreement as a
whole. Unless the context otherwise requires, references herein: (i) to an agreement, instrument
or other document means such agreement, instrument or other document as amended, supplemented and
modified from time to time to the extent permitted by the provisions thereof and by this Agreement;
and (ii) to a statute means such statute as amended from time to time and includes any successor
legislation thereto and any regulations promulgated thereunder. Titles to Articles and headings of
Sections are inserted for convenience of reference only and shall not be deemed a part of or to
affect the meaning or interpretation of this Agreement. This Agreement shall be construed without
regard to any presumption or rule requiring construction or interpretation against the party
drafting an instrument or causing any instrument to be drafted.

     7.16 Delivery by Facsimile.
This Agreement, to the extent signed and delivered by means of a facsimile machine, shall be
treated in all manner and respects as an original agreement or instrument and shall be considered
to have the same binding legal effect as if it were the original signed version thereof delivered
in person. At the request of any party, each other party shall reexecute original forms thereof
and deliver them to all other parties. No party shall raise the use of a facsimile machine to
deliver a signature or the fact that any signature or agreement or instrument was transmitted or
communicated through the use of a facsimile machine as a defense to the formation or enforceability
of a contract and each such party forever waives any such defense.

     7.17 Failure to Deliver Securities.
If any Securityholder who has become obligated to sell Securities hereunder shall fail to
deliver such Securities to the Corporation in accordance with the terms of this Agreement, the
Corporation may, at its option, send to such Securityholder by registered mail, return receipt
requested, the consideration for such Securities as is herein specified. Thereupon, the
Corporation shall (i) cancel on its books the certificate or certificates in the name of the
Corporation representing such Securities and (ii) issue, in lieu thereof, a new certificate or
certificates in the name of the Corporation representing such Securities, and thereupon all of such
Securityholder’s rights in and to such Securities shall terminate, subject to any previously
asserted and outstanding claim by such Securityholder.

[Signature Page Follows]

-21-

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first above
written.

	 	 	 	 	 
	 	CORPORATION:

XSTREAM SYSTEMS, INC.

 	 
	 	By:  	/s/ Anthony Chidoni	 
	 	 	Name:  	Anthony Chidoni	 
	 	 	Title:  	Secretary	 
	 
	 	SECURITYHOLDERS:

 	 
	 	  	 	 
	 	 	 	 
	 	 	 	 
	 

Signature Page to Second A&R Securityholders’ Agreement

 

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first above
written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	

XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	 	Name:  	 	 
	 	 	 	Title:  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/ Simon Irish
 	 
	 	 	Simon Irish 	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first
above written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/ Debra Pipines
 	 
	 	 	Debra Pipines 	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first
above written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/
E.D. Vaughn
 	 
	 	 	E.D. Vaughn	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first
above written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/
William Hamilton
 	 
	 	 	William Hamilton	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and
year first above written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	

XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/ James J. Coyne  MD
 	 
	 	 	                 	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first
above written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/
Mark S. Butler
 	 
	 	 	Mark S. Butler	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

REDACTED

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year
first above written.

	 	 	 	 	 	 
	 	CORPORATION:

 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:      	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/ James J. Lowrey
 	 
	 	 	James J. Lowrey                                              	 
	 	 	 	 
	 	 				
	 	 	/s/ James J. Lowrey
 	 
	 	 	James J. Lowrey, Manager of HLG, LLC                                              	 
	 	 	 	 
	 	 				
	 	 	/s/ James J. Lowrey
 	 
	 	 	James J. Lowrey, Managing Partner                                              	 
	 	 	of JTW Partners 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

     
     IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first
above written.

	 	 	 	 	 	 
	 	CORPORATION:

 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:
 	 
	 
	 	 	

ALAN AUSTIN LIVING TRUST
 	 
	 
	 	By: 	/s/ Alan Austin
 	 
	 	 	Alan Austin, Trustee 	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first
above written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	

XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/
Dennis Ferro	 
	 	 	 	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

REDACTED

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first
above written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	
XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/ Robert E. Kennedy
 	 
	 	 	Robert E. Kennedy	 
	 	 	 	 
	 	 				

	Signature Page to Second A&R Securityholders’ Agreement

 

 

          IN WITNESS WHEREOF, this Agreement has been executed as of the date and year first
above written.

	 	 	 	 	 	 
	 	CORPORATION:
 	 
	 
	 	 	

XSTREAM SYSTEMS, INC.
 	 
	 
	 	 	By:  	 	 
	 	 	Name:	  	 	 
	 	 	Title:	  	 	 
	 	 				
	 	SECURITYHOLDERS:

 	 
	 	 	/s/ Anthony Chidoni
 	 
	 	 	Anthony Chidoni 	 
	 	 	 	 
	 	 				

Signature Page to Second A&R Securityholders’ Agreement

 

 

			
	 	 	 
	Series D Round
	 	APPENDIX A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Issued and	 	Issued and	 	Issued and	 	Issued and	 	 
	 	 	 	 	 	 	Outstanding	 	Outstanding	 	Outstanding	 	Outstanding	 	Approval
	 	 	 	 	Name	 	Common	 	Series A(1)	 	Series B(1)	 	Series C(1)	 	Rec’d
	 
	 	1.	 	 	52 River Course Associates LLC
	 	 	0	 	 	 	32,895	 	 	 	58,332	 	 	 	0	 	 	 	 	 
	 	2.	 	 	Alvin J. Delaire, Jr. IRA/SEP
	 	 	0	 	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	3.	 	 	Andonia & Nikitas Kleopoulos, JTWROS
	 	 	13,158	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	4.	 	 	Anthony Chidoni
	 	 	0	 	 	 	0	 	 	 	99,999	 	 	 	24,999	 	 	 	Y	 
	 	5.	 	 	Arthur Calcagnini
	 	 	0	 	 	 	13,158	 	 	 	16,666	 	 	 	8,333	 	 	 	Y	 
	 	6.	 	 	Arthur Mclnerney
	 	 	0	 	 	 	6,579	 	 	 	5,000	 	 	 	0	 	 	 	 	 
	 	7.	 	 	Barry Horne
	 	 	3,300	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	8.	 	 	C.B. Rogers, Jr.
	 	 	49,243	 	 	 	13,313	 	 	 	42,003	 	 	 	0	 	 	 	 	 
	 	9.	 	 	Carole Delaire
	 	 	0	 	 	 	0	 	 	 	5,000	 	 	 	0	 	 	 	 	 
	 	10	 	 	Daniel M. Durand
	 	 	13,638	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	11	 	 	Darren Sylvia
	 	 	9,167	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	Y	 
	 	12	 	 	Dennis Cummings
	 	 	0	 	 	 	13,158	 	 	 	16,666	 	 	 	0	 	 	 	Y	 
	 	13.	 	 	Dick Fava
	 	 	0	 	 	 	0	 	 	 	16,666	 	 	 	0	 	 	 	Y	 
	 	14.	 	 	Douglas S. Frye
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	Y	 
	 	15.	 	 	Earl Segerdahl
	 	 	0	 	 	 	13,158	 	 	 	16,666	 	 	 	15,000	 	 	 	 	 
	 	16.	 	 	Edward D. Conroy
	 	 	0100	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	17.	 	 	Entrust IRA Administration, Inc. FBO
JackGruber IRA 0226360TR
	 	 	0	 	 	 	0	 	 	 	67,251	 	 	 	0	 	 	 	 	 
	 	18.	 	 	Feldman Partners
	 	 	0	 	 	 	6,579	 	 	 	5,000	 	 	 	0	 	 	 	Y	 
	 	19.	 	 	Frank J. Lincoln, Jr.
	 	 	0	 	 	 	0	 	 	 	33,625	 	 	 	0	 	 	 	 	 
	 	20.	 	 	Gary Steven Thompson
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	21.	 	 	Geoffrey and Joanne Stringer
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	3,000	 	 	 	Y	 
	 	22.	 	 	Geoffrey Stringer
	 	 	0	 	 	 	13,158	 	 	 	24,999	 	 	 	0	 	 	 	Y	 
	 	23.	 	 	Hugh and Ann Thompson, JTWROS
	 	 	42,664	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	24.	 	 	Hugh Thompson, Jr.
	 	 	19,737	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	25.	 	 	James Bennett
	 	 	0	 	 	 	0	 	 	 	16,666	 	 	 	0	 	 	 	 	 
	 	26.	 	 	James Bernhart
	 	 	0	 	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	27.	 	 	James Coyne
	 	 	0	 	 	 	6,579	 	 	 	8,333	 	 	 	9,000	 	 	 	 	 
	 	28.	 	 	James W. Ryan, Esq.
	 	 	21,332	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	29.	 	 	James W. Ryan, Trustee — Frazer, Ryan,
Goldberg, Arnold & Glittler LLP 401(k) Plan
-FBO James W. Ryan
	 	 	21,332	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	30.	 	 	Jane Delaire
	 	 	0	 	 	 	0	 	 	 	5,000	 	 	 	0	 	 	 	 	 
	 	31.	 	 	Jane M. Delaire IRA R/O
	 	 	0	 	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	32.	 	 	Jeff Brown
	 	 	050	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	33.	 	 	John Edison
	 	 	0	 	 	 	13,158	 	 	 	16,666	 	 	 	0	 	 	 	 	 
	 	34.	 	 	John H. Isenhour
	 	 	21,332	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	35.	 	 	John M Dalton
	 	 	0	 	 	 	0	 	 	 	5,000	 	 	 	0	 	 	 	Y	 
	 	36.	 	 	Joseph Coakley
	 	 	0100	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	37.	 	 	Joseph Cornacchia
	 	 	0	 	 	 	13,158	 	 	 	33,332	 	 	 	15,000	 	 	 	Y	 
	 	38.	 	 	Joseph Melone
	 	 	0	 	 	 	32.895	 	 	 	58,332	 	 	 	0	 	 	 	Y	 
	 	39.	 	 	Judith M. Bracken
	 	 	0	 	 	 	0	 	 	 	16,812	 	 	 	0	 	 	 	 	 
	 	40.	 	 	Julie C. O’Brian TTEE
	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	41.	 	 	Katherine C. Lightfoot, Trustee of the KCHL
Revocable Trust Dated 8/24/95
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	42.	 	 	Kathryn M. Dircks And Randy Joel Dircks
Living Trust
	 	 	2,500	 	 	 	0	 	 	 	8,406	 	 	 	0	 	 	 	 	 
	 	43.	 	 	Laurie Tegreene
	 	 	0100	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	44.	 	 	Linda Nelson
	 	 	0	 	 	 	0	 	 	 	12,179	 	 	 	0	 	 	 	 	 
	 	45.	 	 	Lovejoy Family Limited Partnership
	 	 	0	 	 	 	0	 	 	 	100,386	 	 	 	24,999	 	 	 	Y	 
	 	46.	 	 	Lowrey Family Investments LLC(2)
	 	 	0	 	 	 	263,160	 	 	 	200,001	 	 	 	149,999	 	 	 	Y	 
	 	47.	 	 	Mallie M. Ireland
	 	 	57,648	 	 	 	0	 	 	 	33,625	 	 	 	0	 	 	 	 	 
	 	48.	 	 	Michael E. Catanzaro Jr.
	 	 	0	 	 	 	0	 	 	 	8,333	 	 	 	0	 	 	 	 	 

 

 

			
	 	 	 
	Series D Round
	 	APPENDIX A

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Issued and	 	Issued and	 	Issued and	 	Issued and	 	 
	 	 	 	 	 	 	Outstanding	 	Outstanding	 	Outstanding	 	Outstanding	 	Approval
	 	 	 	 	Name	 	Common	 	Series A(1)	 	Series B(1)	 	Series C(1)	 	Rec’d
	 
	 	49.	 	 	Michael Haley Trustee, Michael Winder
Haley Revocable Trust U/A dated
December 1, 2006
	 	 	0	 	 	 	0	 	 	 	50,000	 	 	 	0	 	 	 	Y	 
	 	50.	 	 	Michael Paterson
	 	 	0	 	 	 	13,342	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	51.	 	 	Michael W. Haley Revocable Trust
	 	 	0	 	 	 	65,790	 	 	 	33,333	 	 	 	36,000	 	 	 	Y	 
	 	52.	 	 	Navarro Family Partners
	 	 	0	 	 	 	13,158	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	53.	 	 	Paul J. Micciche
	 	 	11,750	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	Y	 
	 	54.	 	 	Paul M. Micciche
	 	 	1,340	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	55.	 	 	Peter Barrett
	 	 	0	 	 	 	13,158	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	56.	 	 	Phillip Odeen
	 	 	0	 	 	 	13,158	 	 	 	33,333	 	 	 	0	 	 	 	Y	 
	 	57.	 	 	Rebecca Shealy
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	58.	 	 	Richard A. Moore, GM, Gaylord Brooks
Investment LLC
	 	 	31,998	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	59.	 	 	Robert A. Prindiville 2006 Personal
Trust dated February 2, 2006
	 	 	6,579	 	 	 	0	 	 	 	50,437	 	 	 	0	 	 	 	Y	 
	 	60.	 	 	Robert Girling
	 	 	0	 	 	 	32,895	 	 	 	74,999	 	 	 	30,000	 	 	 	Y	 
	 	61.	 	 	Robert J. Morrissey
	 	 	0	 	 	 	52,632	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	62.	 	 	Robert Kennedy
	 	 	0	 	 	 	6,579	 	 	 	33,387	 	 	 	8,333	 	 	 	Y	 
	 	63.	 	 	Robert Kochem
	 	 	0153	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	64.	 	 	Robert M. Gibb
	 	 	42,664	 	 	 	0	 	 	 	16,812	 	 	 	0	 	 	 	 	 
	 	65.	 	 	Robert Poden
	 	 	0	 	 	 	13,158	 	 	 	5,000	 	 	 	0	 	 	 	 	 
	 	66.	 	 	Robert W. Bracken
	 	 	6,579	 	 	 	0	 	 	 	16,812	 	 	 	0	 	 	 	Y	 
	 	67.	 	 	Roger T. Sobkowiak
	 	 	11,950	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	Y	 
	 	68.	 	 	Ronald H. Dunbar
	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	69.	 	 	Samuel B. Hayes III, Revocable Trust
	 	 	6,579	 	 	 	26,867	 	 	 	58,849	 	 	 	0	 	 	 	 	 
	 	70.	 	 	Scott and Debbie Bell
	 	 	0	 	 	 	6,624	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	71.	 	 	SEI Private Trust Co. Custodian Robert
Prindi IRA R/O
	 	 	0	 	 	 	13,498	 	 	 	0	 	 	 	0	 	 	 	Y	 
	 	72.	 	 	Sherry Meader
	 	 	0180	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	73.	 	 	State University of New Jersey, Rutgers
	 	 	73,500	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	74.	 	 	Steven P. Kleopoulos
	 	 	0	 	 	 	0	 	 	 	8,360	 	 	 	0	 	 	 	 	 
	 	75.	 	 	Summit Investors of Vero, Ltd.
	 	 	0	 	 	 	65,790	 	 	 	0	 	 	 	0	 	 	 	Y	 
	 	76.	 	 	Terry Thompson
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	77.	 	 	The Decedent’s Trust of the Lightfoot
Revocable Trust Dated 2/22/83
	 	 	31,998	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	Y	 
	 	78.	 	 	The Kathryn M Dircks and Randy Joel
Dircks Living Trust
	 	 	2,500	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	79.	 	 	The Mayo Family Revocable Trust dated
July 13, 2000
	 	 	276,416	 	 	 	0	 	 	 	46,782	 	 	 	8,333	 	 	 	Y	 
	 	80.	 	 	The Sanford Katz & Irma Katz Revocable
Trust dated August 9, 2006
	 	 	0	 	 	 	6,579	 	 	 	8,333	 	 	 	0	 	 	 	 	 
	 	81.	 	 	The Survivor’s Trust of The Lightfoot
Revocable Trust Dated 2/22/83
	 	 	42,664	 	 	 	0	 	 	 	8,406	 	 	 	0	 	 	 	Y	 
	 	82.	 	 	Thomas W. Cook
	 	 	79,654	 	 	 	13,450	 	 	 	100,519	 	 	 	0	 	 	 	Y	 
	 	83.	 	 	Triantafillos Parlapanides
	 	 	0	 	 	 	0	 	 	 	8,407	 	 	 	0	 	 	 	 	 
	 	84.	 	 	Vincent E. DeTurris
	 	 	20,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	Y	 
	 	85.	 	 	Walter F. Helfrecht
	 	 	195,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	86.	 	 	Walter Lovejoy
	 	 	0	 	 	 	26,316	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	87.	 	 	Wendy Thompson
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	88.	 	 	William E. Mayo
	 	 	195,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	89.	 	 	William E. Mayo, as Trustee of The
Mayo Children’s 2000 Irrevocable Trust
dated July 13, 2000
	 	 	100,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	90.	 	 	William Jennings
	 	 	0	 	 	 	52,632	 	 	 	33,333	 	 	 	0	 	 	 	 	 
	 	91.	 	 	William Scully
	 	 	0	 	 	 	65,790	 	 	 	101,081	 	 	 	33,000	 	 	 	Y	 
	 	92.	 	 	William Towles
	 	 	42,664	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	93.	 	 	Wilshire Investors, LLC
	 	 	42,664	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	 	 
	 	 	 	 	 	 	 
	 	 	 	 	TOTALS:
	 	 	1,574,387	 	 	 	962,101	 	 	 	1,619,127	 	 	 	365,996	 	 	 	 	 
	 	 	 	 	 	 	 

 

 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	 /s/ Anthony Chidoni
 	 
	 	[Name] Anthony Chidoni 	 
	 	 	 
	 

6

 

REDACTED

	 	 	     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C Warrant Agreement,
the Second A&R Securityholders’ Agreement and the A&R
Registration Rights Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	                                                /s/ A. B. Calcagnini
 	 
	 	[Name] A. B. Calcagnini 	 
	 	 	 

6

 

	 	 	 	 	 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	                                                /s/ Darren Sylvia
 	 
	 	[Name] Darren Sylvia 	 
	 	 	 

6

 

	 	 	 	 	 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as
of the date first above written and authorized its attachment as a counterpart to each of the
Series
D Purchase Agreement, the Series D Warrant Agreement, the A&R Series B Warrant
Agreement, the A&R Series C Warrant Agreement, the Second A&R Securityholders’
Agreement and the A&R Registration Rights Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	                                                /s/ Dennis K. Cummings
 	 
	 	[Name] Dennis K. Cummings 	 
	 	 	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date first
above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	                                                /s/ Richard J. Fava
 	 
	 	[Name] Richard J. Fava 	 
	 	 	 
	 

REDACTED

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date first
above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Douglas Frye
 	 
	 	[Name] Douglas Frye 	 
	 	                              8/13/09 	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ William M. Feldman
 	 
	 	[Name] William M.
Feldman 
General Partner

FELDMAN PARTNERS	 
	 	 	 
	 

6

 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Geoffrey L. Stringer
 	 
	 	[Name] Geoffrey L. Stringer 	 
	 	 	 
	 	 	 
	 	/s/ Joanne C. Stringer
 	 

6

 

	 	 	 	 	 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date first
above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Geoffrey L. Stringer
 	 
	 	[Name] Geoffrey L. Stringer 	 
	 	 	 
	 

6

 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D
Purchase Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R
Series C Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ John M. Dalton
 	 
	 	[Name] John M. Dalton 	 
	 	 	 
	 

REDACTED

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date first
above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Joseph M. Cornacchia
 	 
	 	[Name] Joseph M. Cornacchia 	 
	 	 	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date first
above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Joseph J. Melone
 	 
	 	[Name] Joseph J. Melone 	 
	 	 	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Walter Lovejoy
 	 
	 	[Name] Walter Lovejoy  

MGR. LOVEJOY FAMILY PARTNERSHIP	 
	 	 	 

6

 

	 	 	 	 	 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as
of the date first above written and authorized its attachment as a counterpart to each of the
Series D Purchase Agreement, the Series D Warrant Agreement, the A&R Series B Warrant
Agreement, the A&R Series C Warrant Agreement, the Second A&R Securityholders’
Agreement and the A&R Registration Rights Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ James Lowrey
 	 
	 	[Name] JAMES Lowrey 	 
	 	 	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as
of the date first above written and authorized its attachment as a counterpart to each of the
Series
D Purchase Agreement, the Series D Warrant Agreement, the A&R Series B Warrant
Agreement, the A&R Series’ C Warrant Agreement, the Second A&R Securityholders’
Agreement and the A&R Registration Rights Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Michael Haley
 	 
	 	[Name] Michael Haley Rev. Trust and Michael Haley Trustee, Michael Winder Haley Revocable Trust U/A dated December 1, 2006	 
	 	 	 
	 

REDACTED

6

 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Paul J. Micciche
 	 
	 	[Name] Paul J. Micciche 	 
	 	 	 
	 

6

 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Phillip Odeen
 	 
	 	[Name] Phillip Odeen 	 
	 	 	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Robert Girling   8-12-09
 	 
	 	[Name] Robert Girling 	 
	 	                     	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date first
above written and authorized its attachment as a counterpart to each of the Series D
Purchase Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R
Series C Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration
Rights Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Robert E. Kennedy
 	 
	 	[Name]  Robert E. Kennedy 	 
	 	 	 
	 

6

 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Robert Bracken
 	 
	 	[Name]  Robert Bracken 	 
	 	 	 
	 

6

 

 REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/
Roger T. Sobkowiak
 	 
	 	[Name]	 
	 	          8.12.09 	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date first
above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/ Robert A. Prindiville
 	 
	 	[NAME]  Robert A. Prindiville 	 
	 	 	 
	 

	 	 	 	 	 
	 

	 	For:	 	 
	 

	 	 	 	SEI Private Trust Co. Custodian
	 

	 	 	 	Robert Prindiville IRA R/O
	 

	 	and	 	 
	 

	 	 	 	Robert A. Prindiville 2006 Personal
	 

	 	 	 	Trust dated February 2, 2006

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date first
above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 
	 	 	 
	 	/s/
Paul Becker
 	 
	 	Summit Investors 	 
	 	 	 
	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 	 	 
	 	 	/s/ John C. Lightfoot, Trustee	 	 
	 	 	 	 	 
	 

	 	[Name]	 	John C. Lightfoot, Trustee	 	 
	 
	 	 	 	 	 	 
	 

	 	For:	 	 	 	 
	 

	 	 	 	The Decedent’s Trust of the Lightfoot 

Revocable Trust Dated 2/22/83	 	 
	 
	 	 	 	 	 	 
	 

	 	and
	 	

The Survivor’s Trust of the Lightfoot 

Revocable Trust Dated 2/22/83	 	 

6

 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 	 	 
	 	 	/s/ Bryan T. Mayo,
Trustee	 	 
	 	 	 	 	 
	 

	 	[Name]	 	 	 	 
	 
	 

	 	The Mayo Family Revocable Trust dated 7/13/00	 	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 	 	 
	 	 	/s/ Vincent E. DeTurris
8/14/09	 	 
	 	 	 	 	 
	 

	 	[Name] Vincent E.
DeTurris	 	 

6

 

REDACTED

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 	 	 
	 	 	/s/ William P. Scully	 	 
	 	 	 	 	 
	 

	 	[Name]	 	William P. Scully	 	 
	 

	 	 	 	 	 	 

6

 

     IN WITNESS WHEREOF, the undersigned have executed this written consent as of the date
first above written and authorized its attachment as a counterpart to each of the Series D Purchase
Agreement, the Series D Warrant Agreement, the A&R Series B Warrant Agreement, the A&R Series C
Warrant Agreement, the Second A&R Securityholders’ Agreement and the A&R Registration Rights
Agreement, as appropriate.

	 	 	 	 	 	 	 
	 	 	/s/ Thomas Cook	 	 
	 	 	 	 	 
	 

	 	[Name]	 	Thomas Cook    8-12-09	 	 
	 

	 	 	 	 	 	 

6

 

EXHIBIT A

SECURITYHOLDERS OF THE CORPORATION

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Issued and	 	Issued and	 	 	 	 	 	Issued and	 	 	 	 	 	Issued and	 	 
	 	 	Issued and	 	Outstanding	 	Outstanding	 	 	 	 	 	Outstanding	 	 	 	 	 	Outstanding	 	 
	 	 	Outstanding	 	Series A	 	Series B	 	Series B	 	Series C	 	Series C	 	Series D	 	Series D
	Name	 	Common	 	Preferred	 	Preferred	 	Warrants	 	Preferred	 	Warrants	 	Preferred	 	Warrants
	 
	1. 52 River Course Associates LLC
	 	 	0	 	 	 	32,895	 	 	 	58,332	 	 	 	291,660	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	2. Alan Austin Living Trust dated 9/26/097
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	133,333	 	 	 	666,665	 
	3. Alvin J. Delaire, Jr. IRA/SEP
	 	 	0	 	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	4. Andonia & Nikitas Kleopoulos, JTWROS
	 	 	13,158	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	5. Anthony Chidoni
	 	 	0	 	 	 	0	 	 	 	99,999	 	 	 	499,995	 	 	 	24,999	 	 	 	124,995	 	 	 	13,333	 	 	 	66,665	 
	6. Arthur Calcagnini
	 	 	0	 	 	 	13,158	 	 	 	16,666	 	 	 	83,330	 	 	 	8,333	 	 	 	41,665	 	 	 	0	 	 	 	0	 
	7. Arthur Mclnerney
	 	 	0	 	 	 	6,579	 	 	 	5,000	 	 	 	25,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	8. Barry Horne
	 	 	3,300	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	9. Brian T. Mayo
	 	 	65,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	10. C.B. Rogers, Jr.
	 	 	6,579	 	 	 	13,313	 	 	 	42,003	 	 	 	210,015	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	11. Carole Delaire
	 	 	0	 	 	 	0	 	 	 	5,000	 	 	 	25,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	12. Charles McDonell, M.D.
	 	 	42,664	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	13. Clarence B. Rogers, Jr.
	 	 	42,664	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	14. Daniel M. Durand
	 	 	13,638	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	15. Darren Sylvia
	 	 	9,167	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	16. Deborah Pipines
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	33,333	 	 	 	166,665	 
	17. Debra J. Collins
	 	 	72	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	18. Dennis Cummings
	 	 	0	 	 	 	13,158	 	 	 	16,666	 	 	 	83,330	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	19. Dennis H. Ferro
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	16,666	 	 	 	83,330	 
	20. Dick Fava
	 	 	0	 	 	 	0	 	 	 	16,666	 	 	 	83,330	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	21. Douglas S. Frye
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	22. E. Darracott Vaughan, Jr., M.D.
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	10,000	 	 	 	50,000	 
	23. Earl Segerdahl
	 	 	0	 	 	 	13,158	 	 	 	16,666	 	 	 	83,330	 	 	 	15,000	 	 	 	75,000	 	 	 	0	 	 	 	0	 
	24. Edward D. Conroy
	 	 	100	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	25. Elizabeth A. Mayo and Brian T. Mayo as Trustees of The Mayo Family Revocable Trust dated July
13, 2000
	 	 	250,100	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	26. Entrust IRA Administration, Inc. FBO Jack Gruber IRA 0226360TR
	 	 	0	 	 	 	0	 	 	 	67,251	 	 	 	336,255	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	27. Feldman Partners
	 	 	0	 	 	 	6,579	 	 	 	5,000	 	 	 	25,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Issued and	 	Issued and	 	 	 	 	 	Issued and	 	 	 	 	 	Issued and	 	 
	 	 	Issued and	 	Outstanding	 	Outstanding	 	 	 	 	 	Outstanding	 	 	 	 	 	Outstanding	 	 
	 	 	Outstanding	 	Series A	 	Series B	 	Series B	 	Series C	 	Series C	 	Series D	 	Series D
	Name	 	Common	 	Preferred	 	Preferred	 	Warrants	 	Preferred	 	Warrants	 	Preferred	 	Warrants
	 
	28. Frank J. Lincoln, Jr.
	 	 	0	 	 	 	0	 	 	 	33,625	 	 	 	168,125	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	29. Gary Steven Thompson
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	30. Geoffrey and Joanne Stringer
	 	 	0	 	 	 	13,158	 	 	 	24,999	 	 	 	124,995	 	 	 	3,000	 	 	 	15,000	 	 	 	0	 	 	 	0	 
	31. Hugh and Ann Thompson, JTWROS
	 	 	42,664	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	32. Hugh Thompson, Jr.
	 	 	19,737	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	33. James Bennett
	 	 	0	 	 	 	0	 	 	 	16,666	 	 	 	83,330	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	34. James Bernhart
	 	 	0	 	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	35. James Coyne
	 	 	0	 	 	 	6,579	 	 	 	8,333	 	 	 	41,665	 	 	 	9,000	 	 	 	45,000	 	 	 	15,000	 	 	 	75,000	 
	36. James L. Wentzel
	 	 	500	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	37. James W. & Christine Ancey, JTWROS
	 	 	13,158	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	38. James W. Ryan, Esq.
	 	 	21,332	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	39. James W. Ryan, Trustee — Frazer, Ryan, Goldberg, Arnold & Glittler LLP 401(k) Plan — FBO
James W. Ryan
	 	 	21,332	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	40. Jane M. Delaire IRA R/O
	 	 	0	 	 	 	6,579	 	 	 	5,000	 	 	 	25,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	41. Jeff Brown
	 	 	50	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	42. John C. Lightfoot, Trustee, The Decedent’s Trust of the Lightfoot Revocable Trust Dated 2/22/83
	 	 	31,998	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	43. John C. Lightfoot, Trustee, The Survivor’s Trust of The Lightfoot Revocable Trust Dated 2/22/83
	 	 	42,664	 	 	 	0	 	 	 	8,406	 	 	 	42,030	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	44. John Edison
	 	 	0	 	 	 	13,158	 	 	 	16,666	 	 	 	83,330	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	45. John H. Isenhour
	 	 	21,332	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	46. John M Dalton
	 	 	0	 	 	 	0	 	 	 	5,000	 	 	 	25,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	47. Joseph Coakley
	 	 	100	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	48. Joseph Cornacchia
	 	 	0	 	 	 	13,158	 	 	 	33,332	 	 	 	166,660	 	 	 	15,000	 	 	 	75,000	 	 	 	0	 	 	 	0	 
	49. Joseph Melone
	 	 	0	 	 	 	32,895	 	 	 	58,332	 	 	 	291,660	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	50. Judith M. Bracken
	 	 	0	 	 	 	0	 	 	 	16,812	 	 	 	84,060	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	51. Julie C. O’Brian TTEE
	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	52. Katherine C. Lightfoot, Trustee of the KCHL Revocable Trust Dated 8/24/95
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	53. Kathryn M. Dircks And Randy Joel Dircks Living Trust
	 	 	5,000	 	 	 	0	 	 	 	8,406	 	 	 	42,030	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	54. Laurie Tegreene
	 	 	100	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	55. Linda Nelson
	 	 	0	 	 	 	0	 	 	 	12,179	 	 	 	60,895	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	56. Lovejoy Family Limited Partnership
	 	 	0	 	 	 	0	 	 	 	100,386	 	 	 	501,930	 	 	 	24,999	 	 	 	124,995	 	 	 	0	 	 	 	0	 
	57. Lowrey Family Investments LLC
	 	 	0	 	 	 	263,160	 	 	 	200,001	 	 	 	1,000,005	 	 	 	149,999	 	 	 	749,995	 	 	 	200,000	 	 	 	1,000,000	 
	58. Mallie Ireland
	 	 	57,648	 	 	 	0	 	 	 	33,625	 	 	 	168,125	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Issued and	 	Issued and	 	 	 	 	 	Issued and	 	 	 	 	 	Issued and	 	 
	 	 	Issued and	 	Outstanding	 	Outstanding	 	 	 	 	 	Outstanding	 	 	 	 	 	Outstanding	 	 
	 	 	Outstanding	 	Series A	 	Series B	 	Series B	 	Series C	 	Series C	 	Series D	 	Series D
	Name	 	Common	 	Preferred	 	Preferred	 	Warrants	 	Preferred	 	Warrants	 	Preferred	 	Warrants
	 
	59. Mark S. Butler
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	16,750	 	 	 	83,750	 
	60. Michael E. Catanzaro Jr.
	 	 	0	 	 	 	0	 	 	 	8,333	 	 	 	41,665	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	61. Michael Paterson
	 	 	0	 	 	 	13,342	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	62. Michael W. Haley Revocable Trust
	 	 	0	 	 	 	65,790	 	 	 	83,333	 	 	 	416,665	 	 	 	36,000	 	 	 	180,000	 	 	 	0	 	 	 	0	 
	63. Navarro Family Partners
	 	 	0	 	 	 	13,158	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	64. Paul J. Micciche
	 	 	11,750	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	65. Paul M. Micciche
	 	 	1,340	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	66. Peter Barrett
	 	 	0	 	 	 	13,158	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	67. Phillip Odeen
	 	 	0	 	 	 	13,158	 	 	 	33,333	 	 	 	166,665	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	68. Rebecca Shealy
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	69. Richard A. Moore, GM, Gaylord Brooks Investment LLC
	 	 	31,998	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	70. Robert A. Prindiville 2006 Personal Trust dated February 2, 2006
	 	 	6,579	 	 	 	0	 	 	 	50,437	 	 	 	252,185	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	71. Robert E. Washburn & Sheila A. Washburn, JTWROS
	 	 	38,577	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	72. Robert Girling
	 	 	0	 	 	 	32,895	 	 	 	74,999	 	 	 	374,995	 	 	 	30,000	 	 	 	150,000	 	 	 	0	 	 	 	0	 
	73. Robert J. Morrissey
	 	 	0	 	 	 	52,632	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	74. Robert Kennedy
	 	 	0	 	 	 	6,579	 	 	 	33,387	 	 	 	166,935	 	 	 	8,333	 	 	 	41,665	 	 	 	8,333	 	 	 	41,665	 
	75. Robert Kochem
	 	 	153	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	76. Robert M. Gibb
	 	 	42,664	 	 	 	0	 	 	 	16,812	 	 	 	84,060	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	77. Robert Poden
	 	 	0	 	 	 	13,158	 	 	 	5,000	 	 	 	25,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	78. Robert W. Bracken
	 	 	6,579	 	 	 	0	 	 	 	16,812	 	 	 	84,060	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	79. Roger Sobkowiak
	 	 	11,950	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	80. Ronald H. Dunbar
	 	 	6,579	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	81. Samuel B. Hayes III, Revocable Trust
	 	 	6,579	 	 	 	26,867	 	 	 	58,849	 	 	 	294,245	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	82. Scott and Debbie Bell
	 	 	0	 	 	 	6,624	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	83. SEI Private Trust Co. Custodian Robert Prindiville IRA R/O
	 	 	0	 	 	 	13,498	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	84. Sherry Meader
	 	 	180	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	85. Simon Irish
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	100,000	 	 	 	500,000	 
	86. State University of New Jersey, Rutgers
	 	 	73,500	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	87. Steven P. Kleopoulos
	 	 	0	 	 	 	0	 	 	 	8,360	 	 	 	41,800	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	88. Summit Investors of Vero, Ltd.
	 	 	0	 	 	 	65,790	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	89. Susan M. Carroll
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	90. Terry Thompson
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 

 

 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Issued and	 	Issued and	 	 	 	 	 	Issued and	 	 	 	 	 	Issued and	 	 
	 	 	Issued and	 	Outstanding	 	Outstanding	 	 	 	 	 	Outstanding	 	 	 	 	 	Outstanding	 	 
	 	 	Outstanding	 	Series A	 	Series B	 	Series B	 	Series C	 	Series C	 	Series D	 	Series D
	Name	 	Common	 	Preferred	 	Preferred	 	Warrants	 	Preferred	 	Warrants	 	Preferred	 	Warrants
	 
	91. The Mayo Family Revocable Trust dated July 13, 2000
	 	 	26,316	 	 	 	0	 	 	 	46,782	 	 	 	233,910	 	 	 	8,333	 	 	 	41,665	 	 	 	0	 	 	 	0	 
	92. The Sanford Katz & Irma Katz Revocable Trust
	 	 	0	 	 	 	6,579	 	 	 	8,333	 	 	 	41,665	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	93. Thomas W. Cook
	 	 	79,654	 	 	 	13,450	 	 	 	100,519	 	 	 	502,595	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	94. Tom Chu
	 	 	800	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	95. Tom Martz
	 	 	21,332	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	96. Triantafillos Parlapanides
	 	 	0	 	 	 	0	 	 	 	8,407	 	 	 	42,035	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	97. Vincent E. DeTurris
	 	 	20,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	98. Walter F. Helfrecht
	 	 	195,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	99. Walter Lovejoy
	 	 	0	 	 	 	26,316	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	100. Wendy Thompson
	 	 	10,666	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	101. William E. Mayo
	 	 	195,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	102. William E. Mayo, as Trustee of The Mayo Children’s 2000 Irrevocable Trust dated July 13, 2000
	 	 	100,000	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	103. William G. Hamilton, M.D.
	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	16,667	 	 	 	83,335	 
	104. William Jennings
	 	 	0	 	 	 	52,632	 	 	 	33,333	 	 	 	166,665	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	105. William Scully
	 	 	0	 	 	 	65,790	 	 	 	101,081	 	 	 	505,405	 	 	 	33,000	 	 	 	165,000	 	 	 	0	 	 	 	0	 
	106. William Towles
	 	 	42,664	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	107. Wilshire Investors, LLC
	 	 	42,664	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 	 	 	0	 
	 	 	 
	SUBTOTAL:
	 	 	1,767,156	 	 	 	962,101	 	 	 	1,619,127	 	 	 	8,095,635	 	 	 	365,996	 	 	 	1,829,980	 	 	 	563,415	 	 	 	2,817,075	 
	 	 	 

	 	 	 	 	 
	TOTAL PREFERRED:

	 	 	3,510,639	 
	TOTAL PREFERRED+WARRANTS:

	 	 	16,253,329	 
	TOTAL COMMON+PREFERRED:

	 	 	5,277,795	 
	TOTAL COMMON+PREFERRED+WARRANTS:

	 	 	18,020,485	 

 

 

EXHIBIT B

FORM OF JOINDER AGREEMENT

     The undersigned hereby acknowledges receipt of a copy of that certain Second Amended and
Restated Securityholders’ Agreement, dated as of August 27, 2009, among XStream Systems, Inc.
(the “Corporation”) and each Person set forth on Exhibit A thereto and each other
holder of Securities (as defined therein) that may hereafter become bound by the terms
thereof (as amended from time to time, the “Second A&R Securityholders Agreement”), and
hereby certifies to the other parties thereto that it has read and fully understands the
Second A&R Securityholders’ Agreement, that it has had an opportunity to review and discuss
the terms and conditions of the Second A&R Securityholders’ Agreement with its legal counsel
and other advisors, and that it agrees to be bound by the terms and conditions of the Second
A&R Securityholders’ Agreement as if it were an original signatory thereto. Capitalized terms
used but not defined herein shall have the meanings ascribed to them in the Second A&R
Securityholders’ Agreement.

     IN WITNESS WHEREOF, the parties have caused this Joinder to be executed on this                      day
of                                         ,                     .

	 	 	 	 	 
	 

	 	SECURITYHOLDER:	 	 
	 
	 	 	 	 
	 

	 	 

Print Name of Securityholder
	 	 
	 
	 	 	 	 
	 

	 	 

Signature
	 	 
	 
	 	 	 	 
	 

	 	 

Print Title of Signatory, if Applicable
	 	 
	 
	 	 	 	 
	 

	 	Address for Notices:	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

	 	 
	 
	 	 	 	 
	 

	 	 

Facsimile:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00166-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00166-of-00352.parquet"}]]