FORM OF REGISTRATION RIGHTS AGREEMENT
Exhibit 10.1
FORM
OF REGISTRATION RIGHTS AGREEMENT
THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is entered into as of the ___
day of 2006, by and among Freedom Acquisition Holdings, Inc., a Delaware corporation (the
“Company”), and the undersigned parties listed under Investor on the signature page hereto
(each, an “Investor” and collectively, the “Investors”).
WHEREAS, the Investors currently hold all of the issued and outstanding securities of the
Company; and
WHEREAS, the Investors and the Company desire to enter into this Agreement to provide the
Investors with certain rights relating to the registration of shares of Common Stock held by them.
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein, and
for other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto agree as follows:
1. DEFINITIONS. The following capitalized terms used herein have the following
meanings:
“Agreement” means this Agreement, as amended, restated, supplemented, or otherwise
modified from time to time.
“Co-Investment Common Stock” means the 6,250,000 shares of Common Stock to be issued
as part of the Co-Investment Units to certain Investors.
“Co-Investment Units” means the 6,250,000 units of the Company to be issued to certain
Investors pursuant to the Sponsors’ Warrants and Co-Investment Units Subscription Agreement, dated
as of even date herewith, between the Company and such Investors immediately prior to the
consummation by the Company of a merger, stock exchange, asset acquisition, reorganization or
similar business combination with an operating business.
“Co-Investment Warrants” means the 6,250,000 warrants of the Company to purchase
shares of Common Stock to be issued as part of the Co-Investment Units to certain Investors
(including the underlying shares of Common Stock).
“Commission” means the United States Securities and Exchange Commission, or any other
federal agency then administering the Securities Act or the Exchange Act.
“Common Stock” means the common stock, par value $0.0001 per share, of the Company.
“Company” is defined in the preamble to this Agreement.
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“Exchange Act” means the Securities Exchange Act of 1934, as amended, and the rules
and regulations of the Commission promulgated thereunder, all as the same shall be in effect at the
time.
“Founders’ Common Stock” means the 9,375,000 shares of Common Stock issued as part of
the Founders’ Units to the Investors.
“Founders’ Units” means the 9,375,000 units of the Company issued to the Investors
pursuant to the Founders’ Units Subscription Agreements, dated as of even date herewith, between
the Company and each of the Investors.
“Founders’ Warrants” means the 9,375,000 warrants of the Company to purchase shares of
Common Stock issued as part of the Founders’ Units to the Investors (including the underlying
shares of Common Stock).
“Indemnified Party” is defined in Section 3.3.
“Indemnifying Party” is defined in Section 3.3.
“Investor” is defined in the preamble to this Agreement.
“Investor Indemnified Party” is defined in Section 3.1.
“Notices” is defined in Section 5.3.
“Register,” “Registered” and “Registration” mean a registration
effected by preparing and filing a registration statement or similar document in compliance with
the requirements of the Securities Act, and the applicable rules and regulations promulgated
thereunder, and such registration statement becoming effective.
“Registrable Securities” mean, collectively, the Registrable Units, Registrable Shares
and Registrable Warrants. As to any particular Registrable Securities, such securities shall cease
to be Registrable Securities when: (a) a Registration Statement with respect to the sale of such
securities shall have become effective under the Securities Act and such securities shall have been
sold, transferred, disposed of or exchanged in accordance with such Registration Statement; (b)
such securities shall have been otherwise transferred, new certificates for them not bearing a
legend restricting further transfer shall have been delivered by the Company and subsequent public
distribution of them shall not require registration under the Securities Act; (c) such securities
shall have ceased to be outstanding, or (d) the Commission makes a definitive determination to the
Company that the Registrable Securities are salable under Rule 144(k).
“Registrable Shares” mean (i) the Founders’ Shares underlying the Founders’ Units and
(ii) the Co-Investment Shares underlying the Co-Investment Units. Registrable Shares include any
shares of capital stock or other securities of the Company issued as a dividend or other
distribution with respect to or in exchange for or in replacement of such shares of Common Stock.
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“Registrable Units” mean all of the Founders’ Units owned or held by Investors, each
consisting of (i) one share of Common Stock and (ii) one warrant to purchase one share of Common
Stock.
“Registrable Warrants” mean (i) the Founders’ Warrants underlying the Founders’ Units,
including the underlying shares of Common Stock underlying the Founders’ Warrants, (ii) the
Sponsors’ Warrants, including the underlying shares of Common Stock underlying the Sponsors’
Warrants and (iii) the Co-Investment Warrants underlying the Co-Investment Units, including the
underlying shares of Common Stock underlying the Co-Investment Warrants.
“Registration Statement” means a registration statement filed by the Company with the
Commission in compliance with the Securities Act and the rules and regulations promulgated
thereunder for a public offering and sale of Registrable Securities (other than a registration
statement on Form S-4 or Form S-8, or their successors, or any registration statement covering only
securities proposed to be issued in exchange for securities or assets of another entity).
“Release Date” means (i) with respect to the Registrable Units and Registrable Shares,
the first anniversary date of the completion by the Company of a business combination, (ii) with
respect to the Founders’ Warrants, 90 days after the consummation by the Company of a business
combination (as described in the Registration Statement) and (iii) with respect to the Sponsors’
Warrants and Co-Investment Warrants, as promptly as practicable following the consummation by the
Company of a business combination (as described in the Registration Statement); provided, however
that the Release Date with respect to the Sponsors’ Warrants and Co-Investment Warrants shall be no
earlier than one year from the date of the consummation of the Company’s initial public offering.
“Securities Act” means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder, all as the same shall be in effect at the
time.
“Sponsors’ Warrants” mean the 4,500,000 warrants of the Company issued to certain
Investors pursuant to the Sponsors’ Warrants and Co-Investment Units Subscription Agreements, dated
as of even date herewith, between the Company and such Investors (including the underlying shares
of Common Stock).
“Underwriter” means a securities dealer who purchases any Registrable Securities as
principal in an underwritten offering and not as part of such dealer’s market-making activities.
| 2. | MANDATORY REGISTRATION; PROCEDURES. |
| 2.1. | Filings; Information. |
2.1.1. Filing Registration Statement. The Company shall, as expeditiously as possible
after the Release Date, use its best efforts to prepare and file with the Commission a Registration
Statement on any form for which the Company then qualifies and which form shall be available for
the sale of all Registrable Securities in accordance with the intended method(s) of distribution
thereof, and shall use its best efforts to cause such Registration Statement to become and remain
effective for the period required by Section 2.1.3;
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provided, however, that the Company shall have the right to defer the Registration for up to
thirty (30) days, if the Company shall furnish to the holders a certificate signed by the President
of the Company stating that, in the good faith judgment of the Board of Directors of the Company,
it would be materially detrimental to the Company and its stockholders for such Registration
Statement to be effected at such time; provided further, that the Company shall not be obligated to
deliver securities and shall not have penalties for failure to deliver securities, if a
Registration Statement is not effective at the time of exercise by the holder.
2.1.2. Copies. The Company shall, prior to filing a Registration Statement or
prospectus, or any amendment or supplement thereto, furnish without charge to the holders of
Registrable Securities included in such registration, and such holders’ legal counsel, copies of
such Registration Statement as proposed to be filed, each amendment and supplement to such
Registration Statement (in each case including all exhibits thereto and documents incorporated by
reference therein), the prospectus included in such Registration Statement (including each
preliminary prospectus), and such other documents as the holders of Registrable Securities included
in such registration or legal counsel for any such holders may request in order to facilitate the
disposition of the Registrable Securities owned by such holders.
2.1.3. Amendments and Supplements. The Company shall prepare and file with the
Commission such amendments, including post-effective amendments, and supplements to such
Registration Statement and the prospectus used in connection therewith as may be necessary to keep
such Registration Statement effective and in compliance with the provisions of the Securities Act
until all Registrable Securities and other securities covered by such Registration Statement have
been disposed of in accordance with the intended method(s) of distribution set forth in such
Registration Statement (which period shall not exceed the sum of one hundred eighty (180) days plus
any period during which any such disposition is interfered with by any stop order or injunction of
the Commission or any governmental agency or court) or such securities have been withdrawn.
2.1.4. Notification. After the filing of a Registration Statement, the Company shall
promptly, and in no event more than two (2) business days after such filing, notify the holders of
Registrable Securities included in such Registration Statement of such filing, and shall further
notify such holders promptly and confirm such advice in writing in all events within two (2)
business days of the occurrence of any of the following: (i) when such Registration Statement
becomes effective; (ii) when any post-effective amendment to such Registration Statement becomes
effective; (iii) the issuance or threatened issuance by the Commission of any stop order (and the
Company shall take all actions required to prevent the entry of such stop order or to remove it if
entered); and (iv) any request by the Commission for any amendment or supplement to such
Registration Statement or any prospectus relating thereto or for additional information or of the
occurrence of an event requiring the preparation of a supplement or amendment to such prospectus so
that, as thereafter delivered to the purchasers of the securities covered by such Registration
Statement, such prospectus will not contain an untrue statement of a material fact or omit to state
any material fact required to be stated therein or necessary to make the statements therein not
misleading, and promptly make available to the holders of Registrable Securities included in such
Registration Statement any such supplement or amendment; except that before filing with the
Commission a Registration Statement or prospectus or any amendment or supplement thereto, including
documents incorporated by
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reference, the Company shall furnish to the holders of Registrable Securities included in such
Registration Statement and to the legal counsel for any such holders, copies of all such documents
proposed to be filed sufficiently in advance of filing to provide such holders and legal counsel
with a reasonable opportunity to review such documents and comment thereon, and the Company shall
not file any Registration Statement or prospectus or amendment or supplement thereto, including
documents incorporated by reference, to which such holders or their legal counsel shall reasonably
object.
2.1.5. State Securities Laws Compliance. The Company shall use its best efforts to (i)
register or qualify the Registrable Securities covered by the Registration Statement under such
securities or “blue sky” laws of such jurisdictions in the United States as the holders of
Registrable Securities included in such Registration Statement (in light of their intended plan of
distribution) may request and (ii) take such action necessary to cause such Registrable Securities
covered by the Registration Statement to be registered with or approved by such other Governmental
Authorities as may be necessary by virtue of the business and operations of the Company and do any
and all other acts and things that may be necessary or advisable to enable the holders of
Registrable Securities included in such Registration Statement to consummate the disposition of
such Registrable Securities in such jurisdictions; provided, however, that the Company shall not be
required to qualify generally to do business in any jurisdiction where it would not otherwise be
required to qualify but for this paragraph or subject itself to taxation in any such jurisdiction.
2.1.6. Agreements for Disposition. The Company shall enter into customary agreements
(including, if applicable, an underwriting agreement in customary form) and take such other actions
as are reasonably required in order to expedite or facilitate the disposition of such Registrable
Securities. The representations, warranties and covenants of the Company in any underwriting
agreement which are made to or for the benefit of any Underwriters, to the extent applicable, shall
also be made to and for the benefit of the holders of Registrable Securities included in such
registration statement. No holder of Registrable Securities included in such registration statement
shall be required to make any representations or warranties in the underwriting agreement except,
if applicable, with respect to such holder’s organization, good standing, authority, title to
Registrable Securities, lack of conflict of such sale with such holder’s material agreements and
organizational documents, and with respect to written information relating to such holder that such
holder has furnished in writing expressly for inclusion in such Registration Statement.
2.1.7. Cooperation. The principal executive officer of the Company, the principal
financial officer of the Company, the principal accounting officer of the Company and all other
officers and members of the management of the Company shall cooperate fully in any offering of
Registrable Securities hereunder, which cooperation shall include, without limitation, the
preparation of the Registration Statement with respect to such offering and all other offering
materials and related documents, and participation in meetings with Underwriters, attorneys,
accountants and potential investors.
2.1.8. Records. The Company shall make available for inspection by the holders of
Registrable Securities included in such Registration Statement, any Underwriter participating in
any disposition pursuant to such registration statement and any attorney,
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accountant or other professional retained by any holder of Registrable Securities included in
such Registration Statement or any Underwriter, all financial and other records, pertinent
corporate documents and properties of the Company, as shall be necessary to enable them to exercise
their due diligence responsibility, and cause the Company’s officers, directors and employees to
supply all information requested by any of them in connection with such Registration Statement.
2.1.9. Opinions and Comfort Letters. The Company shall furnish to each holder of
Registrable Securities included in the Registration Statement a signed counterpart, addressed to
such holder, of (i) any opinion of counsel to the Company delivered to any Underwriter and (ii) any
comfort letter from the Company’s independent public accountants delivered to any Underwriter. In
the event no legal opinion is delivered to any Underwriter, the Company shall furnish to each
holder of Registrable Securities included in such Registration Statement, at any time that such
holder elects to use a prospectus, an opinion of counsel to the Company (based solely on the oral
advice of the Commission) to the effect that the Registration Statement containing such prospectus
has been declared effective and that no stop order is in effect.
2.1.10. Earnings Statement. The Company shall comply with all applicable rules and
regulations of the Commission and the Securities Act, and make available to its stockholders, as
soon as practicable, an earnings statement covering a period of twelve (12) months, beginning
within three (3) months after the effective date of the registration statement, which earnings
statement shall satisfy the provisions of Section 11(a) of the Securities Act and Rule 158
thereunder.
2.1.11. Listing. The Company shall use its best efforts to cause all Registrable
Securities included in the Registration to be listed on such exchanges or otherwise designated for
trading in the same manner as similar securities issued by the Company are then listed or
designated or, if no such similar securities are then listed or designated, in a manner
satisfactory to the holders of a majority of the Registrable Securities included in such
registration.
2.2. Obligation to Suspend Distribution. Upon receipt of any notice from the Company
of the happening of any event of the kind described in Section 2.1.4(iv), each holder of
Registrable Securities included in the Registration shall immediately discontinue disposition of
such Registrable Securities pursuant to the Registration Statement covering such Registrable
Securities until such holder receives the supplemented or amended prospectus contemplated by
Section 2.1.4(iv) or the restriction on the ability of “insiders” to transact in the Company’s
securities is removed, as applicable, and, if so directed by the Company, each such holder will
deliver to the Company all copies, other than permanent file copies then in such holder’s
possession, of the most recent prospectus covering such Registrable Securities at the time of
receipt of such notice.
2.3. Registration Expenses. The Company shall bear all costs and expenses incurred in
connection with the Registration pursuant to this Agreement, and all expenses incurred in
performing or complying with its other obligations under this Agreement, whether or not the
Registration Statement becomes effective, including, without limitation: (i) all registration and
filing fees; (ii) fees and expenses of compliance with securities or “blue sky”
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laws (including fees and disbursements of counsel in connection with blue sky qualifications
of the Registrable Securities); (iii) printing expenses; (iv) the Company’s internal expenses
(including, without limitation, all salaries and expenses of its officers and employees); (v) the
fees and expenses incurred in connection with the listing of the Registrable Securities as required
by Section 2.1.11; (vi) National Association of Securities Dealers, Inc. fees; (vii) fees and
disbursements of counsel for the Company and fees and expenses for independent certified public
accountants retained by the Company (including the expenses or costs associated with the delivery
of any opinions or comfort letters requested pursuant to Section 2.1.9); (viii) the fees and
expenses of any special experts retained by the Company in connection with such registration and
(ix) the fees and expenses of one legal counsel selected by the holders of a majority-in-interest
of the Registrable Securities included in such registration. The Company shall have no obligation
to pay any underwriting discounts or selling commissions attributable to the Registrable Securities
being sold by the holders thereof, which underwriting discounts or selling commissions shall be
borne by such holders. Additionally, in an underwritten offering, all selling stockholders and the
Company shall bear the expenses of the underwriter pro rata in proportion to the respective amount
of shares each is selling in such offering.
2.4. Information. The holders of Registrable Securities shall provide such information
as may reasonably be requested by the Company, or the managing Underwriter, if any, in connection
with the preparation of the Registration Statement, including amendments and supplements thereto,
in order to effect the registration of any Registrable Securities under the Securities Act pursuant
to Section 2 and in connection with the Company’s obligation to comply with federal and applicable
state securities laws.
3. INDEMNIFICATION AND CONTRIBUTION.
3.1. Indemnification by the Company. The Company agrees to indemnify and hold harmless
each Investor and each other holder of Registrable Securities, and each of their respective
officers, employees, affiliates, directors, partners, members, and agents, and each person, if any,
who controls an Investor and each other holder of Registrable Securities (within the meaning of
Section 15 of the Securities Act or Section 20 of the Exchange Act) (each, an “Investor
Indemnified Party”), from and against any expenses, losses, judgments, claims, damages or
liabilities, whether joint or several, arising out of or based upon any untrue statement (or
allegedly untrue statement) of a material fact contained in the Registration Statement under which
the sale of such Registrable Securities was registered under the Securities Act, any preliminary
prospectus, final prospectus or summary prospectus contained in the Registration Statement, or any
amendment or supplement to such Registration Statement, or arising out of or based upon any
omission (or alleged omission) to state a material fact required to be stated therein or necessary
to make the statements therein not misleading, or any violation by the Company of the Securities
Act or any rule or regulation promulgated thereunder applicable to the Company and relating to
action or inaction required of the Company in connection with any such registration; and the
Company shall promptly reimburse the Investor Indemnified Party for any legal and any other
expenses reasonably incurred by such Investor Indemnified Party in connection with investigating
and defending any such expense, loss, judgment, claim, damage, liability or action; provided,
however, that the Company will not be liable in any such case to the extent that any such expense,
loss, claim, damage or liability arises out of or is based upon any untrue statement or allegedly
untrue statement or omission or alleged omission made in such
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Registration Statement, preliminary prospectus, final prospectus, or summary prospectus, or
any such amendment or supplement, in reliance upon and in conformity with information furnished to
the Company, in writing, by such selling holder expressly for use therein. The Company also shall
indemnify any Underwriter of the Registrable Securities, their officers, affiliates, directors,
partners, members and agents and each person who controls such Underwriter on substantially the
same basis as that of the indemnification provided above in this Section 3.1.
3.2. Indemnification by Holders of Registrable Securities. Each selling holder of
Registrable Securities will, in the event that the Registration is being effected under the
Securities Act pursuant to this Agreement of any Registrable Securities held by such selling
holder, indemnify and hold harmless the Company, each of its directors and officers and each
underwriter (if any), and each other selling holder and each other person, if any, who controls
another selling holder or such underwriter within the meaning of the Securities Act, against any
losses, claims, judgments, damages or liabilities, whether joint or several, insofar as such
losses, claims, judgments, damages or liabilities (or actions in respect thereof) arise out of or
are based upon any untrue statement (or allegedly untrue) statement of a material fact contained in
the Registration Statement under which the sale of such Registrable Securities was registered under
the Securities Act, any preliminary prospectus, final prospectus or summary prospectus contained in
the Registration Statement, or any amendment or supplement to the Registration Statement, or arise
out of or are based upon any omission (or alleged omission) to state a material fact required to be
stated therein or necessary to make the statements therein not misleading, if the statement or
omission was made in reliance upon and in conformity with information furnished in writing to the
Company by such selling holder expressly for use therein, and shall reimburse the Company, its
directors and officers, and each other selling holder or controlling person for any legal or other
expenses reasonably incurred by any of them in connection with investigation or defending any such
loss, claim, damage, liability or action. Each selling holder’s indemnification obligations
hereunder shall be several and not joint and shall be limited to the amount of any net proceeds
actually received by such selling holder.
3.3. Conduct of Indemnification Proceedings. Promptly after receipt by any person of
any notice of any loss, claim, damage or liability or any action in respect of which indemnity may
be sought pursuant to Section 3.1 or 3.2, such person (the “Indemnified Party”) shall, if a
claim in respect thereof is to be made against any other person for indemnification hereunder,
notify such other person (the “Indemnifying Party”) in writing of the loss, claim,
judgment, damage, liability or action; provided, however, that the failure by the Indemnified Party
to notify the Indemnifying Party shall not relieve the Indemnifying Party from any liability which
the Indemnifying Party may have to such Indemnified Party hereunder, except and solely to the
extent the Indemnifying Party is actually prejudiced by such failure. If the Indemnified Party is
seeking indemnification with respect to any claim or action brought against the Indemnified Party,
then the Indemnifying Party shall be entitled to participate in such claim or action, and, to the
extent that it wishes, jointly with all other Indemnifying Parties, to assume control of the
defense thereof with counsel satisfactory to the Indemnified Party. After notice from the
Indemnifying Party to the Indemnified Party of its election to assume control of the defense of
such claim or action, the Indemnifying Party shall not be liable to the Indemnified Party for any
legal or other expenses subsequently incurred by the Indemnified Party in connection with the
defense thereof other than reasonable costs of investigation; provided, however, that in any action
in which both the Indemnified Party and the Indemnifying Party are
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named as defendants, the Indemnified Party shall have the right to employ separate counsel
(but no more than one such separate counsel) to represent the Indemnified Party and its controlling
persons who may be subject to liability arising out of any claim in respect of which indemnity may
be sought by the Indemnified Party against the Indemnifying Party, with the fees and expenses of
such counsel to be paid by such Indemnifying Party if, based upon the written opinion of counsel of
such Indemnified Party, representation of both parties by the same counsel would be inappropriate
due to actual or potential differing interests between them. No Indemnifying Party shall, without
the prior written consent of the Indemnified Party, consent to entry of judgment or effect any
settlement of any claim or pending or threatened proceeding in respect of which the Indemnified
Party is or could have been a party and indemnity could have been sought hereunder by such
Indemnified Party, unless such judgment or settlement includes an unconditional release of such
Indemnified Party from all liability arising out of such claim or proceeding.
3.4. CONTRIBUTION.
3.4.1. If the indemnification provided for in the foregoing Sections 3.1, 3.2 and 3.3 is
unavailable to any Indemnified Party in respect of any loss, claim, damage, liability or action
referred to herein, then each such Indemnifying Party, in lieu of indemnifying such Indemnified
Party, shall contribute to the amount paid or payable by such Indemnified Party as a result of such
loss, claim, damage, liability or action in such proportion as is appropriate to reflect the
relative fault of the Indemnified Parties and the Indemnifying Parties in connection with the
actions or omissions which resulted in such loss, claim, damage, liability or action, as well as
any other relevant equitable considerations. The relative fault of any Indemnified Party and any
Indemnifying Party shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to information supplied by such Indemnified Party or such Indemnifying Party and the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.
3.4.2. The parties hereto agree that it would not be just and equitable if contribution
pursuant to this Section 3.4 were determined by pro rata allocation or by any other method of
allocation which does not take account of the equitable considerations referred to in the
immediately preceding Section 3.4.1. The amount paid or payable by an Indemnified Party as a result
of any loss, claim, damage, liability or action referred to in the immediately preceding paragraph
shall be deemed to include, subject to the limitations set forth above, any legal or other expenses
incurred by such Indemnified Party in connection with investigating or defending any such action or
claim. Notwithstanding the provisions of this Section 3.4, no holder of Registrable Securities
shall be required to contribute any amount in excess of the dollar amount of the net proceeds
(after payment of any underwriting fees, discounts, commissions or taxes) actually received by such
holder from the sale of Registrable Securities which gave rise to such contribution obligation. No
person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.
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4. UNDERWRITING AND DISTRIBUTION.
4.1. Rule 144. The Company covenants that it shall use its best efforts to file any
reports required to be filed by it under the Securities Act and the Exchange Act and shall use its
best efforts to take such further action as the holders of Registrable Securities may reasonably
request, all to the extent required from time to time to enable such holders to sell Registrable
Securities without registration under the Securities Act within the limitation of the exemptions
provided by Rule 144 under the Securities Act, as such Rules may be amended from time to time, or
any similar Rule or regulation hereafter adopted by the Commission.
5. MISCELLANEOUS.
5.1. Other Registration Rights. The Company represents and warrants that no person,
other than a holder of the Registrable Securities, has any right to require the Company to register
any shares of the Company’s capital stock for sale or to include shares of the Company’s capital
stock in the Registration filed by the Company for the sale of shares of capital stock for its own
account or for the account of any other person.
5.2. Assignment; No Third Party Beneficiaries. This Agreement and the rights, duties
and obligations of the Company hereunder may not be assigned or delegated by the Company in whole
or in part. This Agreement and the rights, duties and obligations of the holders of Registrable
Securities hereunder may be freely assigned or delegated by such holder of Registrable Securities
in conjunction with and to the extent of any transfer of Registrable Securities by any such holder.
This Agreement and the provisions hereof shall be binding upon and shall inure to the benefit of
each of the parties, to Citigroup Global Markets Inc. and its successors (as representative on
behalf of itself and Ladenburg Xxxxxxxx & Co. Inc. and its successors) and the permitted assigns of
the Investor or holder of Registrable Securities or of any assignee of the Investor or holder of
Registrable Securities. This Agreement is not intended to confer any rights or benefits on any
persons that are not party hereto other than as expressly set forth in Section 3 and this Section
5.2.
5.3. Notices. All notices, demands, requests, consents, approvals or other
communications (collectively, “Notices”) required or permitted to be given hereunder or
which are given with respect to this Agreement shall be in writing and shall be personally served,
delivered by reputable air courier service with charges prepaid, or transmitted by hand delivery,
telegram, telex or facsimile, addressed as set forth below, or to such other address as such party
shall have specified most recently by written notice. Notice shall be deemed given on the date of
service or transmission if personally served or transmitted by telegram, telex or facsimile;
provided, however, that if such service or transmission is not on a business day or is after normal
business hours, then such notice shall be deemed given on the next business day. Notice otherwise
sent as provided herein shall be deemed given on the next business day following timely delivery of
such notice to a reputable air courier service with an order for next-day delivery.
To the Company:
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Freedom Acquisition Holdings, Inc.
1114 Avenue of the Amxxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Xttn: Xxxxxxx Xxxxxxxxx, President and Chief Executive Officer
1114 Avenue of the Amxxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Xttn: Xxxxxxx Xxxxxxxxx, President and Chief Executive Officer
with a copy to:
Xxxxxxxxx Traurig LLP
MetLife Building
200 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Xttn: Xxxx X. Annex, Esq.
MetLife Building
200 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Xttn: Xxxx X. Annex, Esq.
To an Investor, to:
To the address of such Investor(s) as are then reflected on the records of the
Company.
To the address of such Investor(s) as are then reflected on the records of the
Company.
with a copy to:
Xxxxxxxxx Traurig LLP
MetLife Building
200 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Xttn: Xxxx X. Annex, Esq.
MetLife Building
200 Xxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Xttn: Xxxx X. Annex, Esq.
5.4. Severability. This Agreement shall be deemed severable, and the invalidity or
unenforceability of any term or provision hereof shall not affect the validity or enforceability of
this Agreement or of any other term or provision hereof. Furthermore, in lieu of any such invalid
or unenforceable term or provision, the parties hereto intend that there shall be added as a part
of this Agreement a provision as similar in terms to such invalid or unenforceable provision as may
be possible that is valid and enforceable.
5.5. Counterparts. This Agreement may be executed in multiple counterparts, each of
which shall be deemed an original, and all of which taken together shall constitute one and the
same instrument.
5.6. Entire Agreement. This Agreement (including all agreements entered into pursuant
hereto and all certificates and instruments delivered pursuant hereto and thereto) constitute the
entire agreement of the parties with respect to the subject matter hereof and supersede all prior
and contemporaneous agreements, representations, understandings, negotiations and discussions
between the parties, whether oral or written.
5.7. Modifications and Amendments. No amendment, modification or termination of this
Agreement shall be binding upon any party unless executed in writing by such party.
Notwithstanding the foregoing, any and all parties must obtain the written consent of Citigroup
Global Markets Inc. to amend or modify this Agreement.
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5.8. Titles and Headings. Titles and headings of sections of this Agreement are for
convenience only and shall not affect the construction of any provision of this Agreement.
5.9. Waivers and Extensions. Any party to this Agreement may waive any right, breach
or default which such party has the right to waive, provided, however, that such waiver will not be
effective against the waiving party unless it is in writing, is signed by such party, and
specifically refers to this Agreement. Waivers may be made in advance or after the right waived has
arisen or the breach or default waived has occurred. Any waiver may be conditional. No waiver of
any breach of any agreement or provision herein contained shall be deemed a waiver of any preceding
or succeeding breach thereof nor of any other agreement or provision herein contained. No waiver or
extension of time for performance of any obligations or acts shall be deemed a waiver or extension
of the time for performance of any other obligations or acts.
5.10. Remedies Cumulative. In the event that the Company fails to observe or perform
any covenant or agreement to be observed or performed under this Agreement, the Investor or any
other holder of Registrable Securities may proceed to protect and enforce its rights by suit in
equity or action at law, whether for specific performance of any term contained in this Agreement
or for an injunction against the breach of any such term or in aid of the exercise of any power
granted in this Agreement or to enforce any other legal or equitable right, or to take any one or
more of such actions, without being required to post a bond. None of the rights, powers or remedies
conferred under this Agreement shall be mutually exclusive, and each such right, power or remedy
shall be cumulative and in addition to any other right, power or remedy, whether conferred by this
Agreement or now or hereafter available at law, in equity, by statute or otherwise.
5.11. Governing Law. This Agreement shall be governed by, interpreted under, and
construed in accordance with the internal laws of the State of New York applicable to agreements
made and to be performed within the State of New York, without giving effect to any choice-of-law
provisions thereof that would compel the application of the substantive laws of any other
jurisdiction.
5.12. Waiver of Trial by Jury. Each party hereby irrevocably and unconditionally
waives the right to a trial by jury in any action, suit, counterclaim or other proceeding (whether
based on contract, tort or otherwise) arising out of, connected with or relating to this Agreement,
the transactions contemplated hereby, or the actions of the Investor in the negotiation,
administration, performance or enforcement hereof.
[Signatures appear on the following page]
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IN WITNESS WHEREOF, the parties have caused this Registration Rights Agreement to be executed
and delivered by their duly authorized representatives as of the date first written above.
| FREEDOM ACQUISITION HOLDINGS, INC. | ||||||
| By: | ||||||
| Name: Xxxxxxx Xxxxxxxxx Title: President and Chief Executive Officer |
||||||
| INVESTORS: | ||||||
| BERGGRUEN HOLDINGS NORTH AMERICA LTD. | ||||||
| By: | ||||||
| Name: | ||||||
| Title: | ||||||
| XXXXXX EQUITIES II, LLC | ||||||
| By: | ||||||
| Name: | ||||||
| Title: | ||||||
| Xxxxxxx Moray | ||||||
| Xxxxxxx X. Xxxxxx | ||||||
| Xxxxx X. Xxxxxxxx | ||||||
