InvestorsRightsAgreement投资者权利协议doc.docx
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InvestorsRightsAgreement投资者权利协议doc
Investors’’RightsAgreement(投资者权利协议)-
A.TheCompanyproposestosellandissueupto_________sharesofitsSeriesAConvertiblePreferredStock,parvalue$_________pershare(thePREFERREDSTOCK),pursuanttothatcertainSeriesAConvertiblePreferredStockPurchaseAgreementdatedofevendateherewith(theSERIESAAGREEMENT
B.TheexecutionofthisAgreementisaconditiontotheclosingofthetransactionscontemplatedbytheSeriesAAgreement.
C.TheCompanydesirestoenterintothisAgreementandgranttotheinvestorstherightscontainedhereininordertofulfillsuchcondition.
NOW,THEREFORE,inconsiderationofthemutualpromisesandcovenantscontainedherein,thepartiesherebyagreeasfollows:
1.DEFINITIONS
1.1ThetermHOLDERmeansanyinvestorowningofrecordRegistrableSecuritiesthathavenotbeensoldtothepublicoranyassigneeofrecordofsuchRegistrableSecuritiesinaccordancewithSection2.9hereof.
1.2ThetermsREGISTER,REGISTERED,andREGISTRATIONrefertoaregistrationeffectedbypreparingandfilingaregistrationstatementincompliancewiththeSecuritiesAct,andthedeclarationororderingofeffectivenessofsuchregistrationstatement.
1.3ThetermREGISTRABLESECURITIESmeans(a)sharesofcommonstock,parvalue$0.01pershare(theCOMMONSTOCK),oftheCompanyissuedorissuableuponconversionofthePreferredStock,(b)sharesofCommonStockpurchasedbytheHolderorissuedorissuabletotheHolderuponconversionofothersecuritiespurchasedbytheHolderpursuanttoitsrightoffirstrefusalinSection4ofthisAgreement,and(c)anyCommonStockoftheCompanyissuedas(orissuableupontheconversionorexerciseofanywarrant,rightorothersecuritywhichisissuedas)adividendorotherdistributionwithrespectto,orinexchangefororinreplacementof,suchabove-describedsecurities.Notwithstandingtheforegoing,RegistrableSecuritiesshallnotincludeanysecuritiessoldbyapersontothepubliceitherpursuanttoaregistrationstatement,Section4
(1)oftheSecuritiesActorRule144undertheSecuritiesAct(RULE144)orsoldinaprivatetransactioninwhichthetransferor’srightsunderSection2ofthisAgreementwithrespecttosuchregistrationrightsarenotassigned.
1.4SECURITIESACTshallmeantheSecuritiesActof1933,asamended,oranysimilarUnitedStatesfederalstatuteandtherulesandregulationsoftheCommissionthereunder,allasthesameshallbeineffectatthetime.
1.5ThetermFORMS-3meanssuchformundertheSecuritiesActasineffectonthedatehereoforanysuccessorregistrationformundertheSecuritiesActsubsequentlyadoptedbytheSECwhichpermitsinclusionorincorporationofsubstantialinformationbyreferencetootherdocumentsfiledbytheCompanywiththeSEC.
1.6ThetermSECorCOMMISSIONmeanstheUnitedStatesSecuritiesandExchangeCommission.
2.REGISTRATIONRIGHTS.
2.1DEMANDREGISTRATION.
(A)SubjecttotheconditionsofthisSection2.1,iftheCompanyshallreceiveatanytimeaftertheearlierof(i)onehundredandeighty(180)daysaftertheeffectivedateoftheCompany’sfirstregisteredpublicofferingofitscapitalstock,or(ii)_________,_________,_________(M/D/Y),awrittenrequestfromtheHoldersofnotlessthanthirtypercent(30%)oftheRegistrableSecurities(theINITIATINGHOLDERS)thattheCompanyfilearegistrationstatementundertheSecuritiesActcoveringtheregistrationofatleastsuchRegistrableSecuritiesthatwillhaveanaggregatesalespricetothepublicinexcessof_________Dollars($_________),thentheCompanyshall,withinthirty(30)daysofthereceiptthereof,givewrittennoticeofsuchrequesttoallHolders,and,subjecttothelimitationsofSection2.1(b),effect,assoonaspracticable,theregistrationundertheSecuritiesActofallRegistrableSecuritiesthattheHoldersrequesttoberegistered.
(B)IntheeventthataregistrationpursuanttoSection2.1isforaregisteredpublicofferinginvolvinganunderwriting,theInitiatingHolderswillsoadvisetheCompanyaspartofthewrittenrequestgivenbysuchInitiatingHoldersandtheCompanyshallinturnsoadvisetheHolders.TherightofanyHoldertoincludeitsRegistrableSecuritiesinsuchregistrationshallbeconditioneduponsuchHolder’sparticipationinsuchunderwritingandtheinclusionofsuchHolder’sRegistrableSecuritiesintheunderwritingtotheextentprovidedherein.AllHoldersproposingtodistributetheirsecuritiesthroughsuchunderwritingshallenterintoanunderwritingagreementincustomaryformwiththeunderwriterorunderwriters.NotwithstandinganyotherprovisionofthisSection2.1,iftheunderwriteradvisestheCompanyinwritingthatmarketingfactorsrequirealimitationofthenumberofsecuritiestobeunderwritten(includingRegistrableSecurities)thentheCompanyshallsoadviseallHoldersofRegistrableSecuritieswhichwouldotherwisebeunderwrittenpursuanthereto,andthenumberofsharesthatmaybeincludedintheunderwritingshallbeallocated,first,totheHoldersofRegistrableSecuritiesonaproratabasisbasedonthenumberofRegistrableSecuritiesheldbyallsuchHolders(includingtheInitiatingHolders);second,tosharestoberegisteredandsoldfortheCompany’sownaccount;andthird,tothestockholders(otherthantheHolders)invokingcontractualrightstohavetheirsecuritiesregistered,ifany,onaproratabasis.
(C)TheCompanyisobligatedtoeffectonlytwo
(2)suchregistrationspursuanttothisSection2.1.AregistrationpursuanttothisSection2.1maybethefirstpublicofferingoftheCompany’sSecurities(theINITIALOFFERING).
(D)TheCompanyshallnotberequiredtoeffectaregistrationpursuanttothisSection2.1duringtheperiodstartingwiththedateoffilingof,andendingonthedatewhichisonehundredandeighty(180)daysfollowingtheeffectivedateoftheregistrationstatementpertainingtotheInitialOffering,providedthattheCompanyismakingreasonableandgoodfaitheffortstocausesuchregistrationstatementtobecomeeffective.Inaddition,theCompanyshallnotberequiredtoeffectaregistrationpursuanttothisSection2.1ifwithinthirty(30)daysofreceiptofawrittenrequestfromtheInitiatingHolderspursuanttoSection2.1(a),theCompanygivesnoticetotheHoldersoftheCompany’sintentiontomakeitsInitialOfferingandfilestheregistrationstatementwithrespecttheretowithinsixty(60)daysofsuchnotice;PROVIDED,HOWEVER,thattheCompanymaynotexerciseitsrightsunderthissentencemorethantwiceandthattheCompanyisactivelyemployingingoodfaithallreasonableeffortstocausesuchregistrationstatementtobecomeeffective.
(E)TheCompanyshallbeentitledtopostponethefilingofanyregistrationstatementotherwiserequiredtobepreparedandfiledbytheCompanypursuanttothisSection2.1orSection2.3hereof,orsuspendtheuseofanyeffectiveregistrationstatementunderthisSection2.1orSection2.3hereof,forareasonableperiodoftimewhichshallbeasshortaspracticable,butinanyeventnotinexcessofonehundredandtwenty(120)days(aDELAYPERIOD),iftheCompany(i)determinesingoodfaiththattheregistrationanddistributionoftheRegistrableSecuritiescoveredortobecoveredbysuchregistrationstatement,orthedisclosurerequiredbysuchregistrationstatement,wouldmateriallyinterferewithanypendingmaterialfinancing,acquisitionorcorporatereorganization,orothermaterialcorporatedevelopmentinvolvingtheCompanyoritssubsidiaries,orwouldrequireprematuredisclosurethereof,and(ii)promptlygivestheHolderswrittennoticeofsuchdeterminationthatcontainsastatementofthereasonsforsuchpostponementandanapproximationoftheperiodoftheanticipateddelay;providedthattheCompanyshallnotbeentitledtoexercisethisrightmorethanonceinanytwelve(12)monthperiod.IftheCompanyshallsopostponethefilingofaregistrationstatement,theHoldersshallhavetherighttowithdrawtherequestforregistrationbygivingwrittennoticefromtheholdersofamajorityoftheRegistrableSecuritiesthatweretoberegisteredtotheCompanywithin60daysafterreceiptofthenoticeofpostponementor,ifearlier,theterminationofsuchDelayPeriod.
(F)AllexpensesincurredinconnectionwitheachregistrationbytheHolderspursuanttothisSection2.1(excludingunderwriters’discountsandcommissionsandbroker’sfeesandanytransfertaxesrelatingtothedispositionoftheRegistrableSecurities,whichshallbepaidbythesellingHoldersprorata),includingwithoutlimitationallregistration,filing,qualification,printers’andaccountingfees,feesanddisbursementsofcounselfortheCompany,andthereasonablefeesanddisbursementsofasinglecounselforthesellingHoldershallbebornebytheCompany;PROVIDED,HOWEVER,thattheCompanyshallnotberequiredtopayforanyexpensesofanyregistrationproceedingbegunpursuanttoSection2.1iftheregistrationrequestissubsequentlywithdrawnbytheInitiatingHolder,unlessthewithdrawaloftheregistrationrequestresultsfromeither(i)intentionalactionsbytheCompanyoutsidethenormalcourseofbusiness,or(ii)thediscoveryofinformationabouttheCompany,thatisnotknownatthetimeoftheInitiatingHolders’requestmadepursuanttoSection2.1(a),thatmateriallyreducesthefeasibilityoftheregistrationproceeding.
(G)ForpurposesofanyregistrationpursuanttothisSection2.1,Messrs.DaneJ.NellerandLeslieG.RuddandtheSamanthaLaurenRuddGiftTrustshallbedeemedtobeHoldersandanySharesissuedorissuab