IRA Rev 3.docx

IRA Rev 3.docx

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IRARev3

[AMENDEDANDRESTATED]

INVESTORS’RIGHTSAGREEMENT

PreliminaryNotes

AnInvestors’RightsAgreementcancovermanydifferentsubjects.Themostfrequentareinformationrights,registrationrights,contractual“rightsoffirstofferorpreemptive”rightsi.e.,therighttopurchasesecuritiesinsubsequentequityfinancingsconductedbytheCompany）,andvariouspost-closingcovenants.

TABLEOFCONTENTS

Page

1.Definitions.2

2.RegistrationRights6

2.1DemandRegistration6

2.2CompanyRegistration.8

2.3UnderwritingRequirements9

2.4ObligationsoftheCompany11

2.5FurnishInformation12

2.6ExpensesofRegistration12

2.7DelayofRegistration13

2.8Indemnification13

2.9ReportsUnderExchangeAct16

2.10LimitationsonSubsequentRegistrationRights16

2.11MarketStandoffAgreement17

2.12RestrictionsonTransfer18

2.13TerminationofRegistrationRights20

3.InformationandObserverRights20

3.1DeliveryofFinancialStatements20

3.2Inspection22

3.3[ObserverRights]23

3.4TerminationofInformation[andObserverRights]23

3.5Confidentiality23

4.RightstoFutureStockIssuances24

4.1RightofFirstOffer24

4.2DirectedIPOShares.26

4.3Termination27

5.AdditionalCovenants27

5.1Insurance27

5.2EmployeeAgreements27

5.3EmployeeVesting28

[5.4QualifiedSmallBusinessStock]28

5.5MattersRequiringInvestorDirectorApproval28

5.6MeetingsoftheBoardofDirectors30

5.7SuccessorIndemnification30

5.8BoardExpenses30

5.9TerminationofCovenants30

6.Miscellaneous30

6.1SuccessorsandAssigns30

6.2GoverningLaw31

6.3Counterparts;Facsimile32

6.4TitlesandSubtitles32

6.5Notices32

6.6AmendmentsandWaivers32

6.7Severability33

6.8AggregationofStock33

6.9AdditionalInvestors33

6.10EntireAgreement33

6.11DisputeResolution34

6.12DelaysorOmissions34

6.13Acknowledgment35

ScheduleA-ScheduleofInvestors

[ScheduleB-ScheduleofKeyHolders]

[ExhibitA-FormofNoncompetitionandNonsolicitationAgreement]

[AMENDEDANDRESTATED]

INVESTORS’RIGHTSAGREEMENT

THIS[AMENDEDANDRESTATED]INVESTORS’RIGHTSAGREEMENT（“Agreement”）ismadeasofthe[__]dayof[___________,200_],byandamong[________],a[Delaware]corporation（the“Company”）,[and]eachoftheinvestorslistedonScheduleAhereto,eachofwhichisreferredtointhisAgreementasan“Investor[”][,”andeachofthestockholderslistedonSchedule Bhereto,eachofwhomisreferredtohereinasa“KeyHolder”][andanyAdditionalPurchaser（asdefinedinthePurchaseAgreement）thatbecomesapartytothisAgreementinaccordancewithSection6.9hereof].

RECITALS

[Alternative1:

WHEREAS,theCompanyandtheInvestorsarepartiestotheSeriesAPreferredStockPurchaseAgreementofevendateherewith（the“PurchaseAgreement”）;and

WHEREAS,inordertoinducetheCompanytoenterintothePurchaseAgreementandtoinducetheInvestorstoinvestfundsintheCompanypursuanttothePurchaseAgreement,theInvestorsandtheCompanyherebyagreethatthisAgreementshallgoverntherightsoftheInvestorstocausetheCompanytoregistersharesofCommonStockissuabletotheInvestors,toreceivecertaininformationfromtheCompany,andtoparticipateinfutureequityofferingsbytheCompany,andshallgoverncertainothermattersassetforthinthisAgreement;

NOW,THEREFORE,thepartiesherebyagreeasfollows:

]

[Alternative2:

WHEREAS,certainoftheInvestors（the“ExistingInvestors”）holdsharesoftheCompany’sSeries[_]PreferredStockand/orsharesofCommonStockissueduponconversionthereofandpossessregistrationrights,informationrights,rightsoffirstoffer,andotherrightspursuanttoanInvestors’RightsAgreementdatedasof[___________,200_]betweentheCompanyandsuchInvestors（the“PriorAgreement”）;and

WHEREAS,theExistingInvestorsareholdersofatleast[_______percent（___%）]oftheRegistrableSecuritiesoftheCompany（asdefinedinthePriorAgreement）,anddesireto[amendandrestate][terminate]thePriorAgreementinitsentiretyandtoaccepttherightscreatedpursuanttothisAgreementinlieuoftherightsgrantedtothemunderthePriorAgreement;and

WHEREAS,certainoftheInvestorsarepartiestothatcertainSeries[_]PreferredStockPurchaseAgreementofevendateherewithbetweentheCompanyandcertainoftheInvestors（the“PurchaseAgreement”）,underwhichcertainoftheCompany’sandsuchInvestors’obligationsareconditionedupontheexecutionanddeliveryofthisAgreementbysuchInvestors,ExistingInvestorsholdingatleast[_______percent（___%）]oftheRegistrableSecurities,andtheCompany;

NOW,THEREFORE,theExistingInvestorsherebyagreethatthePriorAgreementshallbe[amendedandrestated][supersededandreplacedinitsentiretybythisAgreement],andthepartiestothisAgreementfurtheragreeasfollows:

]

1.Definitions.ForpurposesofthisAgreement:

1.1“Affiliate”means,withrespecttoanyspecifiedPerson,anyotherPersonwhoorwhich,directlyorindirectly,controls,iscontrolledby,orisundercommoncontrolwithsuchspecifiedPerson,includingwithoutlimitationanygeneralpartner,officer,director,ormanagerofsuchPersonandanyventurecapitalfundnoworhereafterexistingthatiscontrolledbyoneormoregeneralpartnersormanagingmembersof,orsharesthesamemanagementcompanywith,suchPerson.

1.2“CommonStock”meanssharesoftheCompany’scommonstock,parvalue[$0.___]pershare.

1.3“Damages”meansanyloss,damage,orliability（jointorseveral）towhichapartyheretomaybecomesubjectundertheSecuritiesAct,theExchangeAct,orotherfederalorstatelaw,insofarassuchloss,damage,orliability（oranyactioninrespectthereof）arisesoutoforisbasedupon（i）anyuntruestatementorallegeduntruestatementofamaterialfactcontainedinanyregistrationstatementoftheCompany,includinganypreliminaryprospectusorfinalprospectuscontainedthereinoranyamendmentsorsupplementsthereto;（ii） anomissionorallegedomissiontostatethereinamaterialfactrequiredtobestatedtherein,ornecessarytomakethestatementsthereinnotmisleading;or（iii）anyviolationorallegedviolationbytheindemnifyingparty（oranyofitsagentsorAffiliates）oftheSecuritiesAct,theExchangeAct,anystatesecuritieslaw,oranyruleorregulationpromulgatedundertheSecuritiesAct,theExchangeAct,oranystatesecuritieslaw.

1.4“DerivativeSecurities”meansanysecuritiesorrightsconvertibleinto,orexercisableorexchangeablefor（ineachcase,directlyorindirectly）,CommonStock,includingoptionsandwarrants.

1.5“ExchangeAct”meanstheSecuritiesExchangeActof1934,asamended,andtherulesandregulationspromulgatedthereunder.

1.6“ExcludedRegistration”means（i）aregistrationrelatingtothesaleofsecuritiestoemployeesoftheCompanyorasubsidiarypursuanttoastockoption,stockpurchase,orsimilarplan;（ii）aregistrationrelatingtoanSECRule145transaction;（iii）aregistrationonanyformthatdoesnotincludesubstantiallythesameinformationaswouldberequiredtobeincludedinaregistrationstatementcoveringthesaleoftheRegistrableSecurities;or（iv）aregistrationinwhichtheonlyCommonStockbeingregisteredisCommonStockissuableuponconversionofdebtsecuritiesthatarealsobeingregistered.

1.7“FormS1”meanssuchformundertheSecuritiesActasineffectonthedatehereoforanysuccessorregistrationformundertheSecuritiesActsubsequentlyadoptedbytheSEC.

1.8“FormS2”meanssuchformundertheSecuritiesActasineffectonthedatehereoforanysuccessorregistrationformundertheSecuritiesActsubsequentlyadoptedbytheSEC.

1.9“FormS3”meanssuchformundertheSecuritiesActasineffectonthedatehereoforanyregistrationformundertheSecuritiesActsubsequentlyadoptedbytheSECthatpermitsincorporationofsubstantialinformationbyreferencetootherdocumentsfiledbytheCompanywiththeSEC.

1.10“GAAP”meansgenerallyacceptedaccountingprinciplesintheUnitedStates.

1.11“Holder”meansanyholderofRegistrableSecuritieswhoisapartytothisAgreement.

1.12“ImmediateFamilyMember”meansachild,stepchild,grandchild,parent,stepparent,grandparent,spouse,sibling,mother-in-law,father-in-law,son-in-law,daughter-in-law,brother-in-law,orsister-in-law,includingadoptiverelationships,ofanaturalpersonreferredtoherein.

1.13“InitiatingHolders”means,collectively,HolderswhoproperlyinitiatearegistrationrequestunderthisAgreement.

1.14“IPO”meanstheCompany’sfirstunderwrittenpublicofferingofitsCommonStockundertheSecuritiesAct.

1.15“KeyEmployee”meansanyexecutive-levelemployee（includingdivisiondirectorandvicepresident-levelpositions）aswellasanyemployeewho,eitheraloneorinconcertwithothers,develops,invents,programs,ordesignsanyCompanyIntellectualProperty（asdefinedinthePurchaseAgreement）.

1.16[“KeyHolderRegistrableSecurities”means（i）the[_____]sharesofCommonStockheldbytheKeyHolders,and（ii）anyCommonStockissuedas（orissuableupontheconversionorexerciseofanywarrant,right,orothersecuritythatisissuedas）adividendorotherdistributionwithrespectto,orinexchangefororinreplacementofsuchshares.]

1.17“MajorInvestor”meansanyInvestorthat,individuallyortogetherwithsuchInvestor’sAffiliates,holdsatleast[______]sharesofRegistrableSecurities（asadjustedforanystocksplit,stockdividend,combination,orotherrecapitalizationorreclassificationeffectedafterthedatehereof）.

1.18“NewSecurities”means,collectively,equitysecuritiesoftheCompany,whetherornotcurrentlyauth