Asset Purchase and Sale Agreement
Exhibit 2.1
THIS ASSET PURCHASE AND SALE AGREEMENT (the “Agreement”) is entered into as of December 11,
2006 by and between Xxxxxxxx Capital Corporation, a Maryland corporation (the “Seller”),
and Venture Capital Fund of America III, Inc., on behalf of its affiliated funds (“Buyer”).
WHEREAS, Buyer would like to purchase from Seller certain assets, and Seller would like to sell
such assets to Buyer.
NOW, THEREFORE, in consideration of the mutual promises and agreements herein made and intending to
be legally bound and to reflect the foregoing, the parties hereto hereby agree as follows:
1. Buyer hereby agrees to purchase and transfer from Seller, and Seller hereby agrees to sell and
transfer to Buyer, the debt and equity interests (the “Interests”) in certain companies (the
“Companies”), as detailed on Exhibit A hereto, for US $10,000,000 in cash (the “Offer
Price”), subject to the terms and conditions of this Agreement. The Interests shall include any
dividends, interest, principal repayments, distributions, share split, conversion, redemption or
other proceeds in respect of the Interests received by Seller subsequent to the execution of this
letter and prior to the closing date of the purchase of the Interests. Purchase of the Interests
shall not include the assumption of any liabilities or obligations by Buyer, except to the extent
(i) of any existing transfer or other restrictions encumbering the Interests contained in any
existing stockholder or similar agreement to which Seller is a party or otherwise bound or
contained in the articles of incorporation, bylaws or other charter documents of the Companies
(collectively, the “Existing Restrictions”) or (ii) otherwise agreed to in writing by Buyer. If a
right of first refusal or co-sale right applies to any of the Interests and Seller and Buyer cannot
obtain waivers of such rights within 20 days of the later of (1) the signing and delivery of this
Agreement by Seller to Buyer and (2) provision by Seller to Buyer of copies of all of the contracts
containing such first refusal and co-sale rights, Buyer shall specify the portion of the Offer
Price that applies to such Interests. If any of the Interests are pre-empted from transfer to
Buyer by way of the exercise of a right of first refusal or a co-sale right by a third party then
the Offer Price shall be reduced by the corresponding price amount for such Interests, but the
terms of this Agreement shall remain in effect for the remaining Interests.
2. With respect to the Interests in Fitness Holdings, Inc., closing of the purchase of all
Interests shall be subject to waiver of the transfer restrictions of the Shareholders Agreement,
dated as of October 20, 2004, by and among Fitness Holdings, Inc. and certain shareholders thereof,
applicable to the transfer from Seller to the Buyer. Seller and Buyer shall use commercially
reasonable good faith efforts to obtain the waiver specified in the foregoing sentence. For those
Interests subject to any rights of first refusal or co-sale, closing of the purchase of such
Interests is subject to expiration, satisfaction or waiver of any rights of first refusal and
co-sale applicable to them. Seller and Buyer shall use commercially reasonable good faith efforts
to obtain waivers of any rights of first refusal applicable to the transfer of the Interests from
the respective Companies and from the other investors in the Companies. To the extent that such
right of first refusal and co-sale waivers cannot be obtained within 20 days of the later of (1)
the signing and delivery of this Agreement by Seller to Buyer and (2) provision by Seller to Buyer
of copies of all of the contracts containing such first refusal and co-sale rights, the Seller
shall comply with the applicable rights of first refusal and co-sale processes. Closing of the
sale of the Interests by the Seller shall be subject to the approval of the shareholders of Seller,
to the extent required by law, applicable stock exchange rules or the bylaws and articles of
incorporation of Seller as they exist on the date of this letter. If such Seller shareholder
approval is so required, then Seller agrees to promptly seek such approval (except as set forth in
the next paragraph), and Seller’s board of directors agrees to recommend to the shareholders of
Seller that they vote in favor of approval of closing of the sale of the Interests by Seller to
Buyer on the terms herein (except as set forth in the next paragraph). Seller agrees to use good
faith efforts to file with the U.S. Securities and Exchange Commission (“SEC”) as soon as
reasonably practicable, a preliminary proxy statement (the “Proxy”) that solicits shareholder
approval of the transactions contemplated hereby. Seller agrees that it shall hold the shareholder
meeting as soon as practical following
submission of the Proxy and completion of any subsequent revisions to the Proxy, which shall be
made in the sole reasonable discretion of Seller, in response to any comments or questions relating
to the Proxy provided by the staff of the SEC. Seller agrees to use reasonable good faith efforts
to solicit proxies in favor of the transactions contemplated hereby from each of Seller’s
stockholders.
3. If, prior to obtaining approval by its shareholders of the transactions contemplated hereby,
the Seller receives a binding offer (with no due diligence condition and no financing condition)
from a single buyer or group of related buyers (an “Alternative Buyer”) for the purchase of the
Interests in cash, cash equivalents, or marketable securities for an amount that exceeds the Offer
Price by an amount greater than the Threshold Amount (in the amount as hereinafter specified) and
if the Seller pays to Buyer a cash break-up fee in the amount of US$250,000 upon the closing of
such sale to the Alternative Buyer, then Seller and the board of directors of Seller shall be free
to agree to sell the Interests on those terms to the Alternative Buyer and to seek Seller
shareholder approval of such sale. The Threshold Amount shall be an amount equal to (1)
US$1,250,000 plus (2) the product of (A) US$500,000 and (B) the numbers of months (or part thereof)
after February 8, 2007 that such binding offer is received by Seller. If the Seller seeks to sell
the Interests to an Alternative Buyer but fails to close the sale of the Interests to such
Alternative Buyer, Seller and the board of directors of Seller shall remain bound by this Agreement
to sell the Interests to Buyer pursuant to the terms hereof and to seek Seller shareholder approval
of such sale. The break-up fee will only be paid where Buyer does not become the owner of all of
the Interests (other than those Interests eliminated by the result of right of first refusal).
4. Seller and Buyer agree to use commercially reasonable good faith efforts to satisfy the
transfer conditions set forth above and close the purchase of the Interests as soon as reasonably
practicable.
5. At the closing, Seller will deliver to Buyer original stock certificates and other instruments
representing the Interests along with assignment instruments executed by the Seller to effect the
transfer to Buyer and Buyer will pay the Offer Price to Seller by wire transfer of immediately
available funds in U.S. dollars to an account designated by Seller. In addition, at the closing
Buyer will execute any stockholder or similar agreements required to be executed by the terms of
the Existing Restrictions with respect to the applicable Interest being purchased by Buyer. The
closing shall take place at the offices of Buyer in New York, New York no later than fifteen
business days following the date of the satisfaction of the following closing conditions: (i) the
closing conditions specified in paragraph 2 hereof, (ii) the closing, along with the sale of
Interests pursuant to rights of refusal, shall provide $10,000,000 in cash to the Seller (where
only Seller is the beneficiary of this (ii) as a closing condition), (iii) lack of any preliminary
or permanent injunction or other order issued by any state or federal court which prevents the
consummation of the transactions contemplated hereby, and (vi) the representations and warranties
of the parties hereto remain true and correct. Each of the parties hereto shall be deemed to have
made all representations and warranties herein as of the time of the closing, in addition to as of
the date of this Agreement. Either party may terminate this Agreement and abandon the transactions
contemplated hereby upon written notice to the other party at any time following June 30, 2007 if
the closing has not occurred by such date, provided that such party has used commercially
reasonable good faith efforts to satisfy the transfer conditions herein and to meet all of its
obligations hereunder. In the event of termination of this Agreement, no party hereto shall have
any liability or further obligations to the other party hereto except for the obligations of the
parties in paragraph 13 and the second sentence of paragraph 14 and except for such legal and
equitable rights and remedies that any party may have by reason of any willful breach of this
Agreement by any other party.
6. Seller represents to Buyer that: it has full corporate power and authority to enter into this
Agreement and the transactions contemplated hereby; the board of directors of Seller has authorized
the execution and delivery of this Agreement, the performance of Seller’s obligations hereunder and
the consummation of the transactions contemplated hereby; this Agreement has been duly executed and
delivered by Seller and is a binding obligation of Seller, enforceable against Seller in accordance
with its terms. The board of directors of Seller has, by resolutions duly adopted by unanimous
vote at a meeting of all of it directors duly called and held and not subsequently rescinded or
modified in any way has duly (i) determined that the transactions contemplated hereby are fair to,
and in the best interests of, Seller and its stockholders and declared such transactions to be
advisable, (ii) approved this Agreement and (iii) agreed to recommend that the stockholders of
Seller approve the transactions contemplated hereby and directed that such matter be submitted to
Seller’s stockholders at a special stockholders meeting to be
held as soon as practicable. Seller represents to Buyer that Seller owns (and will own,
immediately prior to the closing) the Interests (other than Interests excluded from the closing by
operation of a right of first refusal or co-sale) free and clear of any liens or encumbrances
(other than as will be satisfied or waived before or at the closing and other than the Existing
Restrictions); that this Agreement and the transactions contemplated hereby do not conflict with
any agreements, court orders, laws or government regulations by which Seller is bound; that the
signatory below is authorized to sign this Agreement on behalf of Seller and to bind Seller to
perform its obligations under this Agreement. Seller represents to Buyer that, to the best of
Seller’s knowledge, no Existing Restrictions entered into or consented to by Seller prior to
September 28, 2005 exist other than those contained in the documents contained in Exhibit B hereto
and that it has provided copies of all such documents to Buyer. Seller represents to Buyer that no
Existing Restrictions entered into or consented to by Seller on or after September 28, 2005 exist
other than those contained in the documents contained in Exhibit B hereto and that it has provided
copies of all such documents to Buyer. Seller represents to Buyer that the undersigned individual
signing on behalf of Seller is the sole director of Seller.
7. Seller acknowledges that, after the closing of the purchase of the Interests by Buyer, Buyer
intends to retain Xxxxxxxx Capital Management, L.L.C. (“BCM”), the former investment advisor to
Seller, and former Seller directors Xxxxxx X. Xxxxxx and Xxxx X. Xxxxxx, or affiliates thereof
(collectively, with BCM, the “BCM Affiliates”), to aid Buyer in the management of the Interests.
Further, Seller acknowledges that Buyer is an investor in private equity funds managed by the BCM
Affiliates, including funds that are co-investors along with Seller in the Companies, and
acknowledges that Buyer, as a result of its status as an investor in funds managed by BCM
Affiliates, has received from BCM Affiliates information regarding the prospects of the Companies
(which the BCM Affiliates are aware of through their management of funds that are co-investors
along with Seller in the Companies). Seller agrees not to bring any lawsuit or claim against Buyer
or any of its affiliates or their officers or directors (the “Buyer Parties”, which shall include
any entity used or formed (a “Buying Entity”) to hold the Interests, directly or indirectly) in
relation to the purchase of the Interests by Buyer, other than for failure to pay the Offer Price
when due hereunder or for any other breach of this Agreement by Buyer; provided that the BCM
Affiliates shall not be deemed Buyer Parties or affiliates of Buyer for the purposes of this
Agreement. Buyer agrees not to bring any lawsuit or claim against Seller or any of its affiliates
or their officers or directors (the “Seller Parties”) in relation to the purchase of the Interests
by Buyer, other than for any breach of this Agreement by Seller. Seller further agrees not to
bring any lawsuit (other than by counterclaim) against the Companies in relation to the Interests
without the consent of the Buyer, consent for which shall not be unreasonably withheld. Seller
agrees not to bring any lawsuit or claim against any of the BCM Affiliates directly relating to (1)
the retention of the BCM Affiliates by Buyer to aid Buyer in the management of the Interests after
the closing of the purchase of the Interests by Buyer or (2) the provision of information to Buyer
by the BCM Affiliates regarding the Companies as described above. Seller shall, however, retain the
rights to bring lawsuits or claims against any of the BCM Affiliates in relation to any other
matters, including, without limitation, with respect to the conduct of (x) Xxxxxxxx Capital
Management, L.L.C., during its time as former investment advisor to Seller, and (y) Xxxxxx X.
Xxxxxx and Xxxx X. Xxxxxx, during their time as directors and officers of Seller. Seller shall
indemnify each of the Buyer Parties from and against any and all claims or lawsuits brought by any
current, past or future shareholder of Seller that arise from the consummation of the transactions
contemplated hereby (“Seller Shareholder Claims”), including reasonable legal fees and other costs
and expenses incurred (the “Legal Costs”, which shall include the costs of any investigation and
preparation), however, if Seller’s actual and reasonable expenditures related to indemnifying Buyer
Parties exceed $200,000 prior to the closing, the Seller shall have the right to terminate this
Agreement, by written notice to Seller (including documentation of expenditures) and with the
effect described in the last sentence of paragraph 5 herein, without penalty; provided that Seller
shall only have such termination right if Seller has used commercially reasonable good faith
efforts to satisfy the transfer conditions herein and to meet all of its obligations hereunder. In
the event that any Buyer Party becomes subject to any Seller Shareholder Claims, the Seller shall
pay on a timely basis the Legal Costs directly to the respective third party providers. The
covenants of this paragraph shall survive the closing. The BCM Affiliates shall be deemed third
party beneficiaries of this paragraph 7.
8. Seller represents to Buyer that as of the date hereof there is no action, suit, claim,
proceeding, arbitration, governmental inquiry or investigation pending or, to its actual knowledge,
threatened against Seller, at law or in equity, before or by any governmental or regulatory
department, commission, board, bureau, agency or
instrumentality, domestic or foreign, which, if adversely determined, would prevent the
consummation of the transactions contemplated by this Agreement. Seller represents to Buyer that
as of the date hereof there is no action or suit by Seller pending or threatened against the
Companies relating to the Interests.
9. Buyer represents to Seller that: it has full corporate power and authority to enter into this
Agreement and the transactions contemplated hereby; the board of directors of Buyer has authorized
the execution and delivery of this Agreement, the performance of Buyer’s obligations hereunder and
the consummation of the transactions contemplated hereby; this Agreement has been duly executed and
delivered by Buyer and is a binding obligation of Buyer, enforceable against Buyer in accordance
with its terms. Buyer further represents to Seller that this Agreement and the transactions
contemplated hereby do not conflict with any agreements, court orders, laws or government
regulations by which Buyer is bound; that the signatory below is authorized to sign this Agreement
on behalf of Buyer and to bind Buyer to perform its obligations under this Agreement; that the
Interests are being acquired for investment for Buyer’s own account, not with a view to the resale
or distribution thereof; that Buyer has acquired sufficient information about each of Companies to
reach an informed and knowledgeable decision to acquire the Interests. Buyer acknowledges that it
can bear the economic risk of its investment and has such knowledge and experience in financial or
business matters that it is capable of evaluating the merits and risks of the investment in the
Interests. Buyer further acknowledges that the Interests have not been registered under the
Securities Act of 1933, as amended, and must be held indefinitely unless they are so registered or
an exemption from registration requirements is determined. Buyer further represents to Seller that
as of the date hereof there is no action, suit, or arbitration pending or, to its actual knowledge,
threatened against Buyer, at law or in equity, before or by any governmental or regulatory
department, commission, board, bureau, agency or instrumentality, domestic or foreign, which, if
adversely determined, would prevent the consummation of the transactions contemplated by this
Agreement. Buyer represents to Seller that it will have at closing sufficient funds in its
accounts to pay the Offer Price. Buyer represents to Seller that none of the BCM Affiliates are,
or will be at or prior to the closing, investors in, or owners of, the Buyer Parties or the
affiliates of the Buyer; provided that BCM Affiliates are expected to become minority investors in
a Buying Entity after the closing of the Agreement.
10. Except as required by law or as otherwise consented to by Buyer, Seller shall not take any
actions (other than the transfer of the Interests to Buyer or Alternative Buyer or satisfaction of
already existing rights of first refusal or other Existing Restrictions applicable to the
Interests) to waive, modify or transfer any of its rights in respect of the Interests. Except as
agreed to by Buyer, Seller agrees to provide, on a timely basis, any required consent to Companies
with respect to pending financings of the Companies or other activities of the Companies where lack
of provision of such consent would have a material adverse effect on the value of, or prospects
for, the Interests.
11. All representations and warranties of the parties set forth herein shall expire and be of no
further force and effect upon the first anniversary of the consummation of the closing. Except
for the covenants and provisions of paragraph 7 and 14 hereof, all covenants of the parties herein
shall terminate on the first anniversary of the closing and shall be of no further force and effect
thereafter.
12. Buyer acknowledges and agrees that in respect of this Agreement and the transactions
contemplated hereby, Buyer has not and is not relying on any document or written or oral
information, statement, representation or warranty furnished or discovered by Buyer or any of its
affiliates other than the representations and warranties of Seller set forth in this Agreement. It
is the explicit intent and understanding of the parties hereto that no party hereto or any of such
party’s representatives, affiliates, or agents is making any representations or warranties
whatsoever, oral or written, express or implied, whether with respect to Buyer, Seller, the
Interests, Companies or otherwise, other than the representations and warranties set forth in this
Agreement, and the parties expressly disclaim all other representations and warranties of any kind
or nature, express or implied.
13. Until the closing of sale of the Interests by Seller, Seller and Buyer will consult with each
other before issuing any press release or otherwise making any public statements with respect to
this Agreement or the transactions contemplated hereby and shall not issue any such press release
or make any such public statement that is not approved by the other party, except as may be
required by law or applicable stock exchange rules, in which case the parties will make reasonable
efforts to consult with each other prior to the making of such public statement. Without limiting
the foregoing, Seller shall issue a press release on or about the day hereof substantially in the
form shown in Exhibit C hereto.
14. Buyer and Seller agree that damages for a breach by either party of a provision this
Agreement may be difficult to calculate and thus further agree that specific performance
and/or injunctive relief shall be available as the remedies, but not as exclusive remedies,
for any such breach. Each party to this Agreement will pay its own expenses in connection with
the negotiation of this Agreement, the performance of its obligations hereunder, and the
consummation of the transactions contemplated herein. This Agreement embodies the entire
agreement and understanding of the parties hereto in respect of the subject matter contained
herein. There are no promises, representations, warranties, covenants or undertakings with
respect to this Agreement and the events giving rise thereto other than those expressly set
forth herein. Except for the confidentiality agreement, dated December 4, 2006, by and
between Buyer and Seller, this Agreement supersedes all prior agreements and understandings
between the parties with respect to such subject matter. This Agreement shall be governed by
and construed under the law of the State of New York. The federal and state courts within the
Borough of Manhattan within the City of New York within the State of New York shall have
exclusive jurisdiction to adjudicate any dispute relating to the subject matter of this
Agreement. This Agreement shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and permitted assigns, but neither this Agreement nor any of
the rights, interests or obligations hereunder shall be assigned by any of the parties hereto
without prior written consent of the other party. Nothing contained herein, express or
implied, is intended to confer on any person or entity other than the parties hereto or their
successors and permitted assigns, any rights, remedies, obligations or liabilities under or by
reason of this Agreement, except for the third party benefits specified with respect to the
BCM Affiliates in paragraph 7 hereof. Nothing contained herein shall be deemed to give rise
to any personal obligation of any of the directors, officers, shareholders or principals of
any of the parties hereto, by reason of any breach or violation of any of the provisions
hereof or otherwise. This Agreement may be executed in counterparts (whether original or
facsimile counterparts), each of which shall be deemed an original and which together shall
constitute one and the same instrument. No course of dealing or omission or delay on the part
of any party hereto in asserting or exercising any right hereunder shall constitute or operate
as a waiver of any such right. No waiver of any provision hereof shall be effective, unless
in writing and signed by or on behalf of the party to be charged therewith. No waiver shall
be deemed a continuing waiver or waiver in respect of any other or subsequent breach or
default, unless expressly so stated in writing. This Agreement may be amended or modified
only by a written instrument signed by or on behalf of all parties hereto. Any consent given
hereunder may be given only by a written instrument signed by or on behalf of the party to be
charged therewith. The prevailing party in any legal action related to this Agreement shall
be entitled to reimbursement by the other party of the prevailing party’s reasonable legal
fees and expenses. The provisions of this paragraph shall survive the closing.
IN WITNESS WHEREOF the parties hereto have executed this Agreement, either directly or by an
attorney-in-fact, as of the date first above written.
| Venture Capital Fund of America III, Inc.: | Xxxxxxxx Capital Corporation: | |||||
By:
|
/s/ Xxxxx X. Xxxxx | By: | /s/ Xxxxxxx Xxxxxxxxx | |||
| Xxxxx X. Xxxxx Managing Director |
Xxxxxxx Xxxxxxxxx Chairman of the Board |
|||||
Date: December 13, 2006
EXHIBIT A
INTEREST SPECIFICS
INTEREST SPECIFICS
| Percentage | Debt Principal | Interest Rate | ||||||||||||||||||||||||||||||||||||||||||
| Xxxxxxxx | of Issuer’s | Amount / | Due Date of | for Debt/ PIK | ||||||||||||||||||||||||||||||||||||||||
| State of | Stock, Warrant or | Capital | Fully | Exercise Price | Debt/Expiration Date | Dividend Rate | ||||||||||||||||||||||||||||||||||||||
| Incorporation | Date of Issuance of | Note Certificate | Series or Type of | Corporation | Number of | Diluted | per Share for | for Warrants or | for Preferred | |||||||||||||||||||||||||||||||||||
| Issuer of Interest: | of Issuer: | Interest: | Number: | Stock or Debt: | Net Cost: | Shares: | Equity: | Warrants: | Escrows: | Stock: | ||||||||||||||||||||||||||||||||||
Fitness Quest Inc.
|
Delaware | October 20, 2004 | 8 | Common Stock | $ | - | 160,250 | 2.80 | % | NA | NA | NA | ||||||||||||||||||||||||||||||||
The Holland
Group of
Tennessee, Inc.
|
Delaware | July 14, 2000 | 1 | Series A Preferred Stock | $ | 2,125,000 | 282,530 | 21.40 | % | NA | NA | 6 | % | |||||||||||||||||||||||||||||||
Streamline Foods,
Inc.
|
Delaware | February 8, 2002 | AP-1 | Series A Preferred Stock | $ | 700,000 | 897,572 | 7.19 | % | NA | NA | 8 | % | |||||||||||||||||||||||||||||||
Streamline Foods,
Inc.
|
Delaware | February 8, 2002 | N23512064309 | Convertible Promissory Notes |
$ | 95,000 | 95,000 | included above |
$ | 95,000 | January 1, 2009 | 13 | % | |||||||||||||||||||||||||||||||
Streamline Foods,
Inc.
|
Delaware | February 8, 2002 | N23512064228 | Warrant for Series A Preferred Stock | $ | - | 27,500 | included above |
$ | 0.01 | February 8, 2012 | |||||||||||||||||||||||||||||||||
TherEX, Inc.
|
Delaware | June 13, 2001 | NA | Promissory Note | $ | 27,228 | 9.37 | % | $ | 27,228 | December 31, 2002 | 10% (12% under default conditions) |
||||||||||||||||||||||||||||||||
TherEX, Inc.
|
Delaware | December 10, 2004 | NA | Promissory Note | $ | 162,500 | included above |
$ | 162,500 | June 10, 2005 | 12% (15% under default conditions) |
|||||||||||||||||||||||||||||||||
TherEX, Inc.
|
Delaware | August 31, 1999 | P2 | Series A Preferred Stock | $ | 1,455,387 | 2,218,375 | included above |
NA | NA | 8 | % | ||||||||||||||||||||||||||||||||
Value Creation
Partners, Inc.
|
Delaware | June 1, 1999 | CPA-2 | Series A Preferred Stock | $ | 148,435 | 35,000 | 5.30 | % | NA | NA | 8 | % | |||||||||||||||||||||||||||||||
Value Creation
Partners, Inc.
|
Delaware | June 14, 2000 | CPB-1-2 | Series B1 Preferred Stock | $ | 1,145,023 | 269,989 | included above |
NA | NA | 8 | % | ||||||||||||||||||||||||||||||||
Value Creation
Partners, Inc.
|
Delaware | February 18, 2005 | D-2 | Series D Preferred Stock | $ | 486,387 | 227,176 | included above |
NA | NA | 8 | % | ||||||||||||||||||||||||||||||||
Orion HealthCorp,
Inc.
|
Delaware | December 15, 2004 | ONH 0003 | Class A Common Stock | $ | 4,914,396 | 1,629,737 | NA | NA | NA | ||||||||||||||||||||||||||||||||||
Orion HealthCorp,
Inc.
|
Delaware | December 14, 2004 | NA | Warrant for Class A Common Stock |
$ | - | 4,545 | $0.01 (subject to adjustment) |
December 15, 2009 | NA | ||||||||||||||||||||||||||||||||||
Prime Office
Products, Inc.
|
(sold to Staples) | 18 month escrow - relating to Convertible Preferred Stock | $ | - | 800,000 | $ | 300,000 | Xxxxx 0, 0000 | xxxx | |||||||||||||||||||||||||||||||||||
TOTAL
|
$ | 11,259,356 | ||||||||||||||||||||||||||||||||||||||||||
EXHIBIT B
Xxxxxxxx Capital Corp. Portfolio Existing Restrictions
Xxxxxxxx Capital Corp. Portfolio Existing Restrictions
Portfolio Company
|
Document Provided to Buyer | Date of Effectiveness | ||||||
Fitness Holdings, Inc.
|
Stockholders Agreement | October 20, 2004 | ||||||
Orion HealthCorp, Inc.
|
Orion Stockholders Agreement | December 15, 2004 | ||||||
| Common Stock Warrant Certificate for 4,545 of Class A common stock | December 15, 2004 | |||||||
Value Creation Partners
|
Amended and Restated Shareholders Agreement | June 14, 2000 | ||||||
| Second Amended and Restated Shareholders Agreement | November 23, 2004 | |||||||
TherEx, Inc.
|
Amended and Restated Shareholders Agreement | June 27, 2003 | ||||||
| Stock Purchase Warrant for 1,000,000 shares of Series A preferred stock | December 10, 2004 | |||||||
| $162,500 Promissory Note | December 10, 2004 | |||||||
| $27,228 Promissory Note | June 13, 2001 | |||||||
Streamline Foods, Inc.
|
Stockholders Agreement | February 8, 2002 | ||||||
| Warrant for the Purchase of up to 27,500 Shares of Series A Convertible Preferred Stock | February 8, 2002 | |||||||
| Subordinated Convertible Note $95,000 principal amount | February 8, 2002 | |||||||
| Registration Rights Agreement | February 8, 2002 | |||||||
Prime Office Products, Inc.
|
The Section 1.8 Holdback provisions of Prime Merger Agreement (pages 3 and 4 only of that agreement) | September 19, 2005 | ||||||
The Holland Group of Tennessee, Inc.
|
Stockholders Agreement | July 14, 2000 | ||||||
| Registration Rights Agreement | July 14, 2000 | |||||||
