EXHIBIT 4.4
AMENDMENT NUMBER ONE
DATED AS OF NOVEMBER 1, 2001
TO
AGREEMENT OF MERGER
DATED AS OF AUGUST 20, 2001
BY AND AMONG
EXFO ELECTRO-OPTICAL ENGINEERING INC.,
3905268 CANADA INC.
AVANTAS NETWORKS CORPORATION
AND
SHAREHOLDERS OF AVANTAS NETWORKS CORPORATION
AMENDMENT NUMBER ONE TO
AGREEMENT OF MERGER
This AMENDMENT NUMBER ONE (this "AMENDMENT") dated as of November 1,
2001 amends that certain AGREEMENT OF MERGER (the "AGREEMENT") dated as of
August 20, 2001 among EXFO Electro-Optical Engineering Inc., incorporated
pursuant to the CANADA BUSINESS CORPORATIONS ACT (the "BUYER"), EXFO
Electro-Optical Engineering Inc., for a corporation to be incorporated (the
"BUYER SUB"), AVANTAS NETWORKS CORPORATION, a corporation incorporated pursuant
to the CANADA BUSINESS CORPORATIONS ACT (the "COMPANY") and all of the
Shareholders of the Company (the "SHAREHOLDERS"). Defined terms not otherwise
defined herein shall have the meaning ascribed to them in the Agreement.
WHEREAS the parties wish to amend the Agrement in order to ensure the
proper tax treatment of the Prior Investments and to reflect certain amendments
made to the articles of the Company after the signature of the Agreement.
NOW, THEREFORE, in consideration of the representations, warranties,
covenants and agreements set forth in the Agreement and in this Amendment, the
parties hereto hereby agree as follows:
1. The fourth paragraph under the title "RECITALS" of the Agreement is
hereby amended by deleting it in its entirety and shall be replaced
with the following so as to read as follows:
"WHEREAS, prior to the Effective Time, Buyer Sub will have
acquired some of the shares held by JDS Uniphase Inc. in the
share capital of the Company for a total amount of
$31,054,980.54 (the "PRIOR INVESTMENTS")."
2. The last paragraph of Section 1.5 of the Agreement is hereby amended by
deleting the reference to "$36 million" and replacing same with the
symbol and number "$34,054,980.54".
3. The fifth paragraph under the title "RECITALS" of the Agreement is
hereby amended by adding the words "and Series C Preferred Shares"
immediately after the words "Series B2 Non-Voting Preferred Shares".
4. The identification of the parties to the Agreement is amended as
follows:
The reference to "a corporation to be incorporated under the
laws of Canada" is replaced by "3905268 Canada Inc.".
5. Section 1.5(i) of the Agreement is amended by deleting it in its
entirety and shall be replaced by the following so as to read as
follows:
-2-
"1.5 PRIOR INVESTMENTS
(i) Prior to the Effective Time, the Company
shall acquire for a consideration payable in cash only,
certain of the "in the money" options from their respective
holders as set forth in Exhibit L which have exercised the
election, representing the difference between the exercise
price of such options and $2.79 and the Company will permit
the cashless exercise of certain of the "in the money" options
from the respective holders as set forth in Exhibit L. In
order to give effect to the foregoing, the stock option plan
of the Company shall be amended in order to permit the option
holders to elect to receive the cash consideration and the
Company Shares, as set forth in Exhibit L and such
option-holders shall agree to so elect the cash consideration
or to effect the cashless options in conformity with Exhibit
L."
6. Exhibit A of the Agreement is deleted in its entirety and replaced by
Exhibit A attached hereto.
7. Exhibit C of the Agreement is deleted in its entirety and replaced by
Exhibit C attached hereto.
8. Exhibit L of the Agreement is deleted in its entirety and replaced by
Exhibit L attached hereto.
9. 3905268 Canada Inc. agrees to be bound by each representation, warranty
and covenant made by Buyer Sub in the Agreement as if it had been an
original signatory to the Agreement.
10. This Amendment and the Agreement shall be considered one and the same
agreement.
11. The parties to this Amendment agree to take all actions, including the
execution of additional documents, as may be reasonably requested by
the other parties hereto to effect the intent or purposes of this
Amendment.
12. This Amendment shall be governed in all respects by the provisions of
the Agreement, which shall remain in full force and effect, as modified
by this Amendment.
-3-
IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be
duly executed by their respective authorized signatories as of the date first
indicated above.
EXFO ELECTRO-OPTICAL ENGINEERING INC.
By: /s/ Xxxxxxx Xxxxxxx
---------------------------------------
Name: Xxxxxxx Xxxxxxx
---------------------------------------
Title: President
---------------------------------------
AVANTAS NETWORKS CORPORATION
By: /s/ Xxxx Xxxxx
---------------------------------------
Name: Xxxx Xxxxx
---------------------------------------
Title: President and Chief Executive Officer
---------------------------------------
3905268 CANADA INC.
By: /s/ Xxxxxxx Xxxxxxx
---------------------------------------
Name: Xxxxxxx Xxxxxxx
---------------------------------------
Title: President
---------------------------------------
/s/ Xxxx Xxxxx
---------------------------------------
XXXX XXXXX, on his behalf and on behalf
of all of the Shareholders listed in
Schedule A hereto
JDS UNIPHASE INC.
By: /s/ Xxx Xxxxx
---------------------------------------
Name: Xxx Xxxxx
---------------------------------------
Title: Vice President
---------------------------------------
BUSINESS DEVELOPMENT BANK OF CANADA
By: /s/ G.R. Cornwall
---------------------------------------
Name: G.R. Cornwall
---------------------------------------
Title: Managing Director
---------------------------------------
-4-
SOCIETE INNOVATECH DU GRAND MONTREAL
By: /s/ Xxxxxx Xxxxxxx
---------------------------------------
Name: Xxxxxx Xxxxxxx
---------------------------------------
Title: President
---------------------------------------
VENTURES WEST VI LIMITED PARTNERSHIP
By: Ventures West Management VI Ltd.,
its general partner
By: /s/ Xxxxx Xxxxxxxxx
---------------------------------------
Name: Xxxxx Xxxxxxxxx
---------------------------------------
Title: Vice President
---------------------------------------
By: /s/ Xxxxxx Xxxxxx
---------------------------------------
Name: Xxxxxx Xxxxxx
---------------------------------------
Title: Authorized Signatory
---------------------------------------
VENTURES WEST 7 LIMITED PARTNERSHIP
By: Ventures West 7 Management Ltd.,
its general partner
By: /s/ Xxxxx Xxxxxxxxx
---------------------------------------
Name: Xxxxx Xxxxxxxxx
---------------------------------------
Title: Vice President
---------------------------------------
By: /s/ Xxxxxx Xxxxxx
---------------------------------------
Name: Xxxxxx Xxxxxx
---------------------------------------
Title: Authorized Signatory
---------------------------------------
VENTURES WEST 7 U.S. LIMITED PARTNERSHIP
By: Ventures West 7 Management
(International), Inc.,
its manager
By: /s/ Xxxxx Xxxxxxxxx
---------------------------------------
Name: Xxxxx Xxxxxxxxx
---------------------------------------
Title: Vice President
---------------------------------------
By: /s/ Xxxxxx Xxxxxx
---------------------------------------
Name: Xxxxxx Xxxxxx
---------------------------------------
Title: Authorized Signatory
---------------------------------------
BANK OF MONTREAL CAPITAL CORPORATION
By: Ventures West Management TIP, Inc.,
its manager
By: /s/ Xxxxx Xxxxxxxxx
---------------------------------------
Name: Xxxxx Xxxxxxxxx
---------------------------------------
Title: Vice President
---------------------------------------
By: /s/ Xxxxxx Xxxxxx
---------------------------------------
Name: Xxxxxx Xxxxxx
---------------------------------------
Title: Authorized Signatory
---------------------------------------
SKYPOINT CAPITAL CORPORATION
By: /s/ Andrew Kate
---------------------------------------
Name: Andrew Kate
---------------------------------------
Title: President
---------------------------------------
-5-
SCHEDULE A
----------
--------------------------------------------------
SHAREHOLDER
-----------
--------------------------------------------------
Xxxxx, Xxxxxxxx
--------------------------------------------------
Xxxxxxx, Xxxxxxx
--------------------------------------------------
Xxxxxxxxx, Xxxxxxxx
--------------------------------------------------
Xxxxxx, Xxxxxx
--------------------------------------------------
Xxxxxxxxxxxxxx, Xxxxx
--------------------------------------------------
Xxxxxxxxxx, Xxxxxx
--------------------------------------------------
Xxxxxxx, Xxxxxxxx
--------------------------------------------------
Xxxxxxx, Xxxxxxx
--------------------------------------------------
Xxxxx, Xxxx
--------------------------------------------------
Xxxxx Family Trust
--------------------------------------------------
Xxxxx Mother and Sister Trust
--------------------------------------------------
Xxxxxx, Xxxxxxxx
--------------------------------------------------
Positron Investment Corporation
--------------------------------------------------
Angel Capital Group Limited Partnership I
--------------------------------------------------
Xxxxx, Xxxxx
--------------------------------------------------
XxXxxxxx, Xxxxx
--------------------------------------------------
Xxxxx Xxxx RRSP
--------------------------------------------------
Xxxxxxxx, Xxxxx
--------------------------------------------------
Gencon Capital Resources Inc.
--------------------------------------------------
Xxxx, Xxxxxxx
--------------------------------------------------
Xxxxxx, Xxxxxx
--------------------------------------------------
Xxxxxx, Xxxxxx
--------------------------------------------------
Xxxxxxxx, Xxxxx
--------------------------------------------------
Xxxxxxxx, Xxxxx
--------------------------------------------------
Rockford, Xxx
--------------------------------------------------
Xxxxxx X. Xxxxxxx RRSP
--------------------------------------------------
Chopra, Bhajanpal
--------------------------------------------------
Xxxxxxxx, Xxxxxxx
--------------------------------------------------
Xxxxxxxxxx, Xxxxxx
--------------------------------------------------
Xxxxxxxx, Xxxxx
--------------------------------------------------
Xxxxx, Xxxxxxxx
--------------------------------------------------
Xxxxxx, Xxxx
--------------------------------------------------
Xxxxxxx, Xxxx-Guy
--------------------------------------------------
Xxxxx, Xxxxxx
--------------------------------------------------
Xxxxxxx, Xxxxx
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