VOTING AGREEMENT
Exhibit 99.1
Execution Version
This VOTING AGREEMENT (this “Agreement”), dated as of November 1, 2006, is made by and
among ABRY Mezzanine Partners, L.P., ABACUS Fund Partners, LP, ABACUS Fund, Ltd., Sandler Capital
Partners V Germany, L.P., Sandler Capital Partners V FTE, L.P. and Sandler Capital Partners V, L.P.
(each individually, a “Stockholder” and, collectively, the “Stockholders”), Prism
Business Media Holdings, Inc., a Delaware corporation (“Parent”) and Prism Acquisition Co.,
a Delaware corporation (“Merger Sub”). Capitalized terms used herein but not otherwise
defined herein shall have the meanings ascribed to such terms in the Merger Agreement (as defined
below).
WHEREAS, concurrently herewith, Merger Sub, Parent and Penton Media, Inc., a Delaware
corporation (the “Company”), are entering into an Agreement and Plan of Merger, dated as of
the date hereof and attached hereto as Exhibit A (as in effect on the date hereof, the
“Merger Agreement”), providing for the merger of Merger Sub with and into the Company, with
the Company as the surviving corporation (the “Merger”), upon the terms and subject to the
conditions set forth in the Merger Agreement;
WHEREAS, as of the date hereof, the Stockholders beneficially own, or have, individually or
together, complete investment authority over, and have, individually or together (or upon exercise
or exchange of a convertible security will have) the power to vote and dispose of the number of
shares of Series C Convertible Preferred Stock, par value $0.01 per share, of the Company (the
“Series C Preferred Stock”) and the number of shares of Common Stock, par value $0.01 per
share, of the Company (the “Common Stock”) set forth opposite their name on Schedule
A attached hereto (collectively, the “Owned Shares” and, together with any securities
issued or exchanged with respect to such shares of Series C Preferred Stock and/or Common Stock
upon any recapitalization, reclassification, merger, consolidation, spin-off, partial or complete
liquidation, stock dividend, split-up or combination of the securities of the Company or any other
change in the Company’s capital structure or securities of which such Stockholder acquires
beneficial ownership after the date hereof and prior to the termination hereof, whether by
purchase, acquisition or upon exercise of options, warrants, conversion of other convertible
securities or otherwise, collectively referred to herein as, the “Covered Shares”); and
WHEREAS, as a condition to the willingness of Merger Sub and Parent to enter into the Merger
Agreement, each of Merger Sub and Parent has required that the Stockholders agree, and in order to
induce Merger Sub and Parent to enter into the Merger Agreement, the Stockholders have agreed, to
enter into this Agreement with respect to (a) the Covered Shares and (b) certain other matters as
set forth herein.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements
contained herein, and intending co be legally bound hereby, the parties hereto hereby agree as
follows:
ARTICLE I.
VOTING AGREEMENT
VOTING AGREEMENT
Section 1.1 Voting Agreement. Each Stockholder hereby agrees (severally
with respect to itself and not jointly) that during the Voting Period (as defined below), at any
meeting of the stockholders of the Company, however called, or at any adjournment thereof or in any
other circumstances upon which a vote or other approval is sought, such Stockholder shall (i) when
a meeting is held, appear at such meeting or otherwise cause the Covered Shares owned by such
Stockholder to be counted as present thereat for the purpose of establishing a quorum, (ii) vote
(or cause to be voted) in person or by proxy the Covered Shares owned by such Stockholder in favor
of the Merger, the adoption of the Merger Agreement and the transactions contemplated by the Merger
Agreement and (iii) vote (or cause to be voted) the Covered Shares owned by such Stockholder
against any extraordinary corporate transaction (other than the Merger), such as a merger,
consolidation, business combination, tender or exchange offer, reorganization, recapitalization,
liquidation, sale or transfer of all or substantially all of the assets or securities of the
Company and any of its subsidiaries (other than pursuant to the Merger) or any other Acquisition
Proposal. For the purposes of this Agreement, “Voting Period” shall mean the period
commencing on the date hereof and ending immediately prior to any termination of this Agreement
pursuant to Section 5.1 hereof.
Section 1.2 Proxy.
(a) EACH STOCKHOLDER HEREBY GRANTS TO, AND APPOINTS, PARENT, THE PRESIDENT OF
PARENT AND THE SECRETARY OF PARENT, IN THEIR RESPECTIVE CAPACITIES AS OFFICERS OF PARENT, AND ANY
OTHER DESIGNEE OF PARENT, EACH OF THEM INDIVIDUALLY, SUCH STOCKHOLDER’S IRREVOCABLE (UNTIL THE
TERMINATION DATE (AS DEFINED BELOW)) PROXY AND ATTORNEY-IN-FACT (WITH FULL POWER OF SUBSTITUTION)
TO VOTE THE COVERED SHARES OWNED BY SUCH STOCKHOLDER IN ACCORDANCE WITH SECTION 1.1. EACH
STOCKHOLDER INTENDS THIS PROXY TO BE IRREVOCABLE (UNTIL THE TERMINATION DATE) AND COUPLED WITH AN
INTEREST AND WILL TAKE SUCH FURTHER ACTION OR EXECUTE SUCH OTHER INSTRUMENTS AS MAY BE NECESSARY TO
EFFECTUATE THE INTENT OF THIS PROXY AND HEREBY REVOKES ANY PROXY PREVIOUSLY GRANTED BY SUCH
STOCKHOLDER WITH RESPECT TO THE COVERED SHARES OWNED BY SUCH STOCKHOLDER.
(b) The parties acknowledge and agree that neither Parent, nor Parent’s
successors, assigns, subsidiaries, divisions, employees, officers, directors, shareholders, agents
and affiliates, shall owe any duty to, whether in law or otherwise, or incur any liability of any
kind whatsoever, including without limitation, with respect to any and all claims, losses, demands,
causes of action, costs, expenses (including reasonable attorney’s fees) and compensation of any
kind or nature whatsoever to the Stockholder in connection with, as a result of or otherwise
relating to any vote (or refrainment from voting) in accordance with Section 1.1 by Parent of the
Covered Shares subject to the irrevocable proxy hereby granted to Parent at any annual, special or
other meeting or action or the execution of any consent of the Stockholders of the Company. The
parties acknowledge that, pursuant to the authority hereby granted under the irrevocable proxy,
Parent may vote the Covered Shares pursuant to Section 1.1 in furtherance of its own or Merger
Sub’s interests, and Parent is not acting as a fiduciary for the Stockholder.
Except pursuant to Section 5.1 of this Agreement, this irrevocable proxy shall not be terminated by
any act of the Stockholder or by operation of law, or by the occurrence of any other event or
events (including, without limiting the foregoing, the termination of any trust or estate for which
the Stockholder is acting as a fiduciary or fiduciaries or the dissolution or liquidation of any
corporation or partnership). If after the execution hereof any trust or estate should be
terminated, or if any corporation or partnership should be dissolved or liquidated, or if any other
such event or events shall occur before the Termination Date, certificates representing the Covered
Shares shall be delivered by or on behalf of the applicable Stockholder in accordance with the
terms and conditions of the Merger Agreement and this Agreement, and actions taken by Parent
hereunder shall be as valid as if such death, incapacity, termination, dissolution, liquidation or
other event or events had not occurred, regardless of whether or not Parent has received notice of
such death, incapacity, termination, dissolution, liquidation or other event.
ARTICLE II.
REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB
REPRESENTATIONS AND WARRANTIES OF PARENT AND MERGER SUB
Parent and Merger Sub hereby represent and warrant, jointly and severally, to each
Stockholder as follows:
Section 2.1 Valid Existence. It is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware and has the requisite
corporate power and authority to carry on its business as it is now being conducted.
Section 2.2 Authority Relative to This Agreement. It has all necessary
corporate power and authority to execute and deliver this Agreement, to perform its obligations
hereunder and to consummate the transactions contemplated hereby. This Agreement has been duly and
validly authorized, executed and delivered by it and, assuming the due authorization, execution and
delivery by the other parties hereto, constitutes a legal, valid and binding obligation,
enforceable against it in accordance with its terms, except as enforcement may be limited by
bankruptcy, insolvency, moratorium or other similar laws relating to creditors rights generally and
by general equitable principles (regardless of whether such enforceability is considered in a
proceeding in equity or at law).
Section 2.3 No Conflicts. Except for the applicable requirements of the
Securities Exchange Act of 1934, as amended (the “Exchange Act”), no filing with, and no
permit, authorization, consent or approval of, any Governmental Entity is necessary on its part for
the execution and delivery of this Agreement and the consummation thereby of the transactions
contemplated hereby.
ARTICLE III.
REPRESENTATIONS AND WARRANTIES
OF THE STOCKHOLDERS
REPRESENTATIONS AND WARRANTIES
OF THE STOCKHOLDERS
Each Stockholder hereby represents and warrants (severally with respect to itself and not
jointly) to Parent and Merger Sub as follows:
Section 3.1 Authority Relative To This Agreement. Such Stockholder has
the capacity to execute and deliver this Agreement, to perform its obligations hereunder and to
consummate the transactions contemplated hereby. This Agreement has been duly and validly executed
and delivered by such Stockholder and, assuming the due authorization, execution and delivery by
Parent and Merger Sub and, subject to any applicable provisions of state law, constitutes a legal,
valid and binding obligation of such Stockholder, enforceable against such Stockholder in
accordance with its terms, except as enforcement may be limited by bankruptcy, insolvency,
moratorium or other similar laws relating to creditors rights generally and by general equitable
principles (regardless of whether such enforceability is considered in a proceeding in equity or at
law).
Section 3.2 No Conflict.
(a) The execution and delivery of this Agreement by such Stockholder do not, and
the performance of its obligations under this Agreement by such Stockholder and the consummation by
such Stockholder of the transactions contemplated hereby will not, (i) conflict with or violate any
law, rule, regulation, order, judgment or decree applicable to such Stockholder or (ii) result in
any breach of or constitute a default (or an event that with notice or lapse of time or both would
become a default) under any contract to which such Stockholder is a party; except, in each case,
for violations, breaches or defaults that would not impair the ability of such Stockholder to
perform its obligations hereunder.
(b) The execution and delivery of this Agreement by such Stockholder do not, and
the performance of its obligations under this Agreement will not, require any consent, approval,
authorization or permit of, or filing with or notification to, any court or arbitrator or any
governmental entity, agency or official except for applicable requirements of the Exchange Act, and
except where the failure to obtain such consents, approvals, authorizations or permits, or to make
such filings or notifications, would not impair the ability of such Stockholder to perform its
obligations hereunder.
Section 3.3 Ownership Of Shares. As of the date hereof, except as set
forth in Schedule B hereto, such Stockholder has good and marketable title to and is the
record or beneficial owner of the Owned Shares set forth opposite such Stockholder’s name on
Schedule A hereto free and clear of all pledges, liens, proxies, claims, charges, security
interests, preemptive rights, voting trusts, voting agreements, options, rights of first offer or
refusal and any other encumbrances or arrangements whatsoever with respect to the ownership,
transfer or other voting of the Owned Shares. As of the date hereof, no proceedings are pending
which, if adversely determined, will have a material adverse effect on any ability to vote or
dispose of any of the Covered Shares held by such Stockholder.
Section 3.4 Stockholder Has Adequate Information. Such Stockholder is a
sophisticated investor with respect to the Covered Shares and has independently and without
reliance upon Parent or Merger Sub and based on such information as such Stockholder has deemed
appropriate, made its own analysis and decision to enter into this Agreement. Such Stockholder
acknowledges that neither Parent nor Merger Sub has made or makes any
representation or warranty, whether express or implied, of any kind or character except as
expressly set forth in this Agreement.
Section 3.5 No Other Representations or Warranties. Except for the
representations and warranties expressly contained in this Article III, such Stockholder makes no
express or implied representation or warranty with respect to such Stockholder, the Covered Shares,
or otherwise.
ARTICLE IV.
COVENANTS OF THE STOCKHOLDERS
COVENANTS OF THE STOCKHOLDERS
Each Stockholder hereby covenants and agrees as follows:
Section 4.1 No Transfer. Other than pursuant to the terms of this
Agreement or the Merger Agreement, without the prior written consent of Parent or as otherwise
provided in this Agreement, during the term of this Agreement, such Stockholder hereby agrees to
not, directly or indirectly, (i) grant any proxies or enter into any voting trust or other
agreement or arrangement with respect to the voting of any Covered Shares or (ii) sell, pledge,
assign, transfer, encumber or otherwise dispose of (including by merger, consolidation or otherwise
by operation of law), or enter into any contract, option or other arrangement or understanding with
respect to the direct or indirect assignment, transfer, encumbrance or other disposition of
(including by merger, consolidation or otherwise by operation of law), any Covered Shares held by
such Stockholder.
Section 4.2 Public Announcement. Each Stockholder shall consult with
Parent before issuing any press releases or otherwise making any public statements with respect to
the transactions contemplated herein, in its capacity as a stockholder of the Company, except as
may be required by law.
Section 4.3 Additional Shares. Stockholder shall as promptly as
practicable notify Parent of the number of any new Covered Shares acquired by the Stockholder, if
any, after the date hereof. Any such shares shall be subject to the terms of this Agreement as
though owned by the Stockholder on the date hereof (or such Stockholder’s employees, officers,
directors or representatives).
Section 4.4 No Restraint on Officer or Director Action; Etc.
Notwithstanding anything to the contrary herein, each of Parent and Merger Sub hereby acknowledges
and agrees that no provision in this Agreement shall limit or otherwise restrict any Stockholder
(or such Stockholder’s employees, officers, directors or representatives) with respect to any act
or omission that such Stockholder (or any other such person) may undertake or authorize in his or
her capacity as a director or officer of the Company or any subsidiary thereof, including any vote
that such individual may make as a director of the Company with respect to any matter presented to
the Board of the Company. The agreements set forth herein shall in no way restrict any such
director or officer in the exercise of his or her duties as a director or officer of the Company or
any subsidiary thereof. Each Stockholder has executed this Agreement solely in his or her capacity
as the record and/or beneficial owner of his or her Covered Shares and no action taken
by such Stockholder in his or her capacity as a director or officer of the Company or any
subsidiary thereof shall be deemed to constitute a breach of any provision of this Agreement.
ARTICLE V.
MISCELLANEOUS
MISCELLANEOUS
Section 5.1 Termination. This Agreement and all of its provisions shall
terminate upon the earlier of (i) the Effective Time, (ii) the termination of the Merger Agreement
in accordance with its terms, (iii) April 30, 2007 or (iv) written notice of termination of this
Agreement by Parent to the Stockholders (such date of termination, the “Termination Date”);
except that the provisions of Article V shall survive any such termination.
Section 5.2 Survival of Representations and Warranties. The respective
representations and warranties of the Stockholders, on the one hand, and Parent and Merger Sub, on
the other hand, contained herein shall not be deemed waived or otherwise affected by any
investigation made by the other party hereto. The representations and warranties contained herein
shall expire with, and be terminated and extinguished upon, consummation of the Merger or
termination of this Agreement pursuant to Section 5.1, and thereafter no party hereto shall be
under any liability whatsoever with respect to any such representation or warranty.
Section 5.3 Fees And Expenses. Except as otherwise provided herein or as
set forth in the Merger Agreement, all costs and expenses incurred in connection with the
transactions contemplated by this Agreement shall be paid by the party incurring such costs and
expenses.
Section 5.4 Notices. All notices, requests, claims, demands and other
communications hereunder shall be in writing and shall be given (a) on the date of delivery if
delivered personally, (b) on the first business day following the date of dispatch if delivered by
a nationally recognized next-day courier service, (c) on the fifth business day following the date
of mailing if delivered by registered or certified mail (postage prepaid, return receipt requested)
or (d) if sent by facsimile transmission, when transmitted and receipt is confirmed. All notices
hereunder shall be delivered to the respective parties at the following addresses (or at such other
address for a party as shall be specified in a notice given in accordance with this Section 5.4):
if to Parent or Merger Sub:
Prism Business Media Holdings, Inc.
000 Xxxx 00xx Xxxxxx
0xx Xxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxxx Xxxxxxxx, Esq.
Facsimile: 000-000-0000
000 Xxxx 00xx Xxxxxx
0xx Xxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxxx Xxxxxxxx, Esq.
Facsimile: 000-000-0000
with copies to:
Xxxxxxxxxxx & Co. LP
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
Attention: Xxxx Xxxxxxx and Xxxxx X. Du Xxx
Facsimile: 000-000-0000
0000 Xxxxxx xx xxx Xxxxxxxx
Xxx Xxxx, XX 00000
Attention: Xxxx Xxxxxxx and Xxxxx X. Du Xxx
Facsimile: 000-000-0000
and
Xxxxxxxx Xxxxx LLP
000 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxx X. Xxxxxx, Esq.,
Xxxx Xxxx, Esq. and
Xxxxxx X. Xxxxxxxxx, Esq.
Facsimile: 000-000-0000
000 Xxxxx Xxxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxx X. Xxxxxx, Esq.,
Xxxx Xxxx, Esq. and
Xxxxxx X. Xxxxxxxxx, Esq.
Facsimile: 000-000-0000
and
Potter Xxxxxxxx & Xxxxxxx XXX
Xxxxxxxx Xxxxx, 0xx Xxxxx
0000 X. Xxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Attention: Xxxx X. Xxxxxxxxxx, Esq.
Facsimile: 000-000-0000
Xxxxxxxx Xxxxx, 0xx Xxxxx
0000 X. Xxxxxx Xxxxxx
Xxxxxxxxxx, XX 00000
Attention: Xxxx X. Xxxxxxxxxx, Esq.
Facsimile: 000-000-0000
if to ABRY Mezzanine Partners, L.P., ABACUS Fund Partners, L.P. or ABACUS Fund, Ltd.:
000 Xxxxxxxxxx Xxxxxx
0000 Xxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxx 00000
Attention: Chief Executive Officer
Facsimile:
0000 Xxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxx 00000
Attention: Chief Executive Officer
Facsimile:
if to Sandler Capital Partners V Germany, L.P., Sandler Capital Partners V FTE, L.P. or
Sandler Capital Partners V, L.P.:
000 Xxxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxx X. Xxxxxx
Facsimile:
00xx Xxxxx
Xxx Xxxx, XX 00000
Attention: Xxxxx X. Xxxxxx
Facsimile:
Additionally, any notice delivered to any party hereto shall also be given to the Company in
accordance with this Section 5.4 at:
The Penton Media Building
0000 Xxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxx 00000
Attention: Chief Executive Officer
Facsimile: 000-000-0000
0000 Xxxx Xxxxx Xxxxxx
Xxxxxxxxx, Xxxx 00000
Attention: Chief Executive Officer
Facsimile: 000-000-0000
with copies to:
Ropes & Xxxx LLP
Xxx Xxxxxxxxxxxxx Xxxxx
Xxxxxx, XX 00000
Attention: Xxxxxx Xxxxx, Esq. and Xxxx X. Xxxxxxxxx, Esq.
Facsimile: 000-000-0000
Xxx Xxxxxxxxxxxxx Xxxxx
Xxxxxx, XX 00000
Attention: Xxxxxx Xxxxx, Esq. and Xxxx X. Xxxxxxxxx, Esq.
Facsimile: 000-000-0000
and
Morris, Nichols, Arsht & Xxxxxxx LLP
0000 Xxxxx Xxxxxx Xxxxxx
X.X. Xxx 0000
Xxxxxxxxxx, XX 00000-0000
Attention: Xxxxxxxxx X. Xxxxxxxxx, Esq.
Facsimile: 000-000-0000
0000 Xxxxx Xxxxxx Xxxxxx
X.X. Xxx 0000
Xxxxxxxxxx, XX 00000-0000
Attention: Xxxxxxxxx X. Xxxxxxxxx, Esq.
Facsimile: 000-000-0000
Section 5.5 Severability. If any term or other provision of this
Agreement is invalid, illegal or incapable of being enforced by any rule of law, or public policy,
all other conditions and provisions of this Agreement shall nevertheless remain in full force and
effect so long as the economic or legal substance of the transactions contemplated hereby is not
affected in any manner materially adverse to any party. Upon such determination that any term or
other provision is invalid, illegal or incapable of being enforced, the parties hereto shall
negotiate in good faith to modify this Agreement so as to effect the original intent of the parties
as closely as possible in a mutually acceptable manner in order that the transactions contemplated
hereby be consummated as originally contemplated to the fullest extent possible.
Section 5.6 Entire Agreement; Assignment. This Agreement (together with
all Exhibits and Schedules) constitutes the entire agreement among the parties hereto with respect
to the subject matter hereof and supersedes all prior agreements and undertakings, both written and
oral, among the parties hereto, or any of them, with respect to the subject matter hereof. This
Agreement shall not be assigned (whether pursuant to a merger, by operation of law or otherwise),
except that each of Parent and Merger Sub may assign all or any of its rights and obligations
hereunder to an affiliate (as defined in the Merger Agreement); provided, however,
that no such assignment shall relieve the assigning party of its obligations hereunder if such
assignee does not perform such obligations.
Section 5.7 Amendment. This Agreement may be amended by the parties at
any time prior to the Effective Time. This Agreement may not be amended except by an instrument in
writing signed by each of the parties hereto.
Section 5.8 Waiver. At any time prior to the Effective Time, any party
hereto may (a) extend the time for the performance of any obligation or other act of any other
party hereto, (b) waive any inaccuracy in the representations and warranties of any other party
contained herein or in any document delivered pursuant hereto and (c) waive compliance with any
agreement of any other party or any condition to its own obligations contained herein’ provided,
however, that neither Stockholder may take such action with respect to the other Stockholder
without the prior written consent of Parent and Merger Sub. Any such extension or waiver shall be
valid if set forth in an instrument in writing signed by the party or parties to be bound thereby.
The failure of any party to assert any of its rights under this Agreement or otherwise shall not
constitute a waiver of those rights.
Section 5.9 Parties in Interest. This Agreement shall be binding upon and
inure solely to the benefit of each party hereto, and nothing in this Agreement, express or
implied, is intended to or shall confer upon any other person (as defined in the Merger Agreement)
any right, benefit or remedy of any nature whatsoever under or by reason of this Agreement.
Section 5.10 Governing Law. This Agreement shall be governed by, and
construed in accordance with, the laws of the State of Delaware, regardless of the laws that might
otherwise govern under applicable principles of conflicts of laws thereof.
Section 5.11 Specific Performance; Submission To Jurisdiction. (a) The
parties agree that irreparable damage would occur in the event that any of the provisions of this
Agreement were not performed in accordance with their specific terms or were otherwise breached.
It is accordingly agreed that the parties shall be entitled to an injunction or injunctions to
prevent breaches of this Agreement and to enforce specifically the terms and provisions of this
Agreement in the Delaware Court of Chancery (unless such court shall lack subject matter
jurisdiction, in which case, in any state or federal court located in Delaware), this being in
addition to any other remedy to which the parties are entitled at law or in equity under this
Agreement.
(b) The parties hereby irrevocably submit to the jurisdiction of the Delaware
Court of Chancery (unless such court shall lack subject matter jurisdiction, in which case, in any
state or federal court located in Delaware) solely in respect of the interpretation and enforcement
of the provisions of this Agreement and of the documents referred to in this Agreement, and in
respect of the transactions contemplated hereby, and hereby waive, and agree not to assert, as a
defense in any action, suit or proceeding for the interpretation or enforcement hereof or of any
such document, that it is not subject thereto or that such action, suit or proceeding may not be
brought or is not maintainable in said court or that the venue thereof may not be appropriate or
that this Agreement or any such document may not be enforced in or by such court, and the
parties hereto irrevocably agree that all claims with respect to such action or proceeding
shall be heard and determined in such court. The parties hereby consent to and grant any such
court jurisdiction over the person of such parties and agree that mailing of process or other
papers in connection with any such action or proceeding in the manner provided in Section 5.4 or in
such other manner as may be permitted by applicable law shall be valid and sufficient service
thereof.
(c) EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER
THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH PARTY
HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN
RESPECT OF ANY LITIGATION DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR
THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO
REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, TO IT
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER,
(ii) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) EACH PARTY
MAKES THIS WAIVER VOLUNTARILY AND (iv) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.11(c).
Section 5.12 Several Obligations. Notwithstanding anything to the
contrary in this Agreement, the obligations of the Stockholders under this Agreement are several
and not joint and in no event shall any Stockholder have any liability or obligation with respect
to the acts or omissions of any other Stockholder.
Section 5.13 Headings. The descriptive headings contained in this
Agreement are included for convenience of reference only and shall not affect in any way the
meaning or interpretation of this Agreement.
Section 5.14 Counterparts. This Agreement may be executed and delivered
(including by facsimile transmission) in one or more counterparts, and by the different parties
hereto in separate counterparts, each of which when executed shall be deemed to be an original but
all of which taken together shall constitute one and the same agreement.
Section 5.15 Further Assurances. From time to time, at the request of
another party and without further consideration, each party hereto shall take such reasonable
further action as may reasonably be necessary to consummate and make effective the transactions
contemplated by this Agreement.
Signature Page Follows
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed
as of the day and year first above written.
PARENT:
PRISM BUSINESS MEDIA HOLDINGS, INC. | ||||||
By: | /s/ Xxxxx Du Xxx | |||||
Name: J. Du Bey | ||||||
Title: V.P. |
MERGER SUB:
PRISM ACQUISITION CO. | ||||||
By: | /s/ Xxxxx Du xxx | |||||
Name: J. Du Bey | ||||||
Title: V.P. |
Signature Page to Voting Agreement
STOCKHOLDERS:
ABRY MEZZANINE PARTNERS, L.P. | ||||||
By: | /s/ Xxxx Xxxxxx | |||||
Name: | ||||||
Title: Clerk of General Partner | ||||||
ABACUS FUND PARTNERS, L.P. | ||||||
By: | /s/ Xxxx Xxxxxx | |||||
Name: | ||||||
Title: Authorized Signatory | ||||||
ABACUS FUND, LTD. | ||||||
By: | /s/ Xxxx Xxxxxx | |||||
Name: | ||||||
Title: Authorized Signatory |
Signature Page to Voting Agreement
SANDLER CAPITAL PARTNERS V GERMANY, L.P. | ||||||
By: Sandler Investment Partners, L.P. | ||||||
By: Sandler Capital Management | ||||||
By: MJDM Corp., a general partner | ||||||
By: | /s/ Xxxxx Xxxxxxxx | |||||
Name: Xxxxx Xxxxxxxx | ||||||
Title: President | ||||||
SANDLER CAPITAL PARTNERS V FTE, L.P. | ||||||
By: Sandler Investment Partners, L.P. | ||||||
By: Sandler Capital Management | ||||||
By: MJDM Corp., a general partner | ||||||
By: | /s/ Xxxxx Xxxxxxxx | |||||
Name: Xxxxx Xxxxxxxx | ||||||
Title: President | ||||||
SANDLER CAPITAL PARTNERS V, L.P. | ||||||
By: Sandler Investment Partners, L.P. | ||||||
By: Sandler Capital Management | ||||||
By: MJDM Corp., a general partner | ||||||
By: | /s/ Xxxxx Xxxxxxxx | |||||
Name: Xxxxx Xxxxxxxx | ||||||
Title: President |
Signature Page to Voting Agreement
Schedule A
Warrant to Purchase | ||||||||||||
Shares of Series C | Options to Purchase | (x) Shares of | ||||||||||
Stockholder | Preferred Stock | Common Stock | Common Stock | |||||||||
ABRY Mezzanine
Partners, L.P. |
30,000 | — | 960,000 | |||||||||
ABACUS Fund
Partners, LP |
5,000 | — | 160,000 | |||||||||
ABACUS Fund, Ltd. |
||||||||||||
Sandler Capital
Partners V Germany,
L.P. |
393 | — | 12,576 | |||||||||
Sandler Capital
Partners V FTE,
L.P. |
3,908 | — | 125,056 | |||||||||
Sandler Capital
Partners V, L.P. |
10,699 | — | 342,368 | |||||||||
Total: |
50,000 | — | 1,600,000 | |||||||||
Schedule B
Ownership of Shares
Letter Agreement, dated as of July 11, 2006, addressed to the Company by the holders of
Series C Preferred Stock.