EXHIBIT 4.7
THIRD AMENDED AND RESTATED
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STOCKHOLDERS' AGREEMENT
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THIRD AMENDED AND RESTATED STOCKHOLDERS' AGREEMENT (the "Agreement"), dated
as of June 8, 1999, among iXL Enterprises, Inc., a Delaware corporation (the
"Company") (formerly named IXL Holdings, Inc.), Xxxxx Investment Associates V,
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L.P. ("KIA V"), Xxxxx Equity Partners V, L.P. ("KEP V", and together with KIA V,
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"Xxxxx"), CB Capital Investors, L.P. ("CB") and the other stockholders of the
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Company (other than those stockholders who became stockholders by purchasing
shares of the Company's Common Stock in the Company's initial public offering).
Capitalized terms used herein shall have the meaning ascribed thereto in Section
6.
WHEREAS, the Company, Xxxxx, certain management stockholders and certain
outside investors entered into a Second Amended and Restated Stockholders'
Agreement, dated as of December 17, 1997, as amended as of March 30, 1998 and
August 14, 1998 (the "Second Amended and Restated Stockholders' Agreement");
WHEREAS, the Second Amended and Restated Stockholders' Agreement may be
amended in accordance with Section 12 thereof;
WHEREAS, the Company, Xxxxx, those stockholders of the Company other than
Xxxxx owning at least 51% of all shares of Preferred Stock owned by all such
stockholders other than Xxxxx, those stockholders of the Company owning at least
51% of all shares of Class B Common Stock, U. Xxxxxxx Xxxxx, Xx., Xxxxx Xxxx,
Xxxxxxx X. Xxxxxxx, Xxxxx Xxxxx, CB Capital Investors, L.P., Flatiron Partners,
LLC, Greylock IX Limited Partnership, Mellon Ventures II, L.P. and Thomson U.S.
Inc. believe it to be in their best interests that they amend and restate the
Second Amended and Restated Stockholders' Agreement;
NOW, THEREFORE, in consideration of the mutual covenants, representations,
warranties and obligations set forth in this Agreement, the parties hereto agree
as follows:
1. Second Amended and Restated Stockholders' Agreement. The Second
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Amended and Restated Stockholders' Agreement is hereby amended and restated in
its entirety as provided for herein.
2. Board of Directors.
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2.1. Designation of Director Nominees.
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(i) Xxxxx. For so long as Xxxxx or its Affiliates hold 5% or
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more in the aggregate of the outstanding Common Stock of the Company, Xxxxx
shall have (A) the right to designate two individuals as Board of Directors
nominees for election to the Board of Directors of the Company, and (B) the
exclusive right to designate for election an individual to fill any vacancy
created by the removal or death of or
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resignation by a director originally designated for election by Xxxxx. Such
right shall terminate when Xxxxx or its Affiliates hold less than 5% of the
outstanding Common Stock of the Company.
(ii) CB. For so long as CB or its Affiliates hold 5% or more of
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the outstanding Common Stock of the Company, CB shall have (A) the right to
designate one individual as a Board of Directors nominee for election to
the Board of Directors of the Company, and (B) the exclusive right to
designate for election an individual to fill any vacancy created by the
removal or death of or resignation by a director originally designated for
election by CB. Such right shall terminate when CB or its Affiliates hold
less than 5% of the outstanding Common Stock of the Company. All
calculations pursuant to this Section 2.1 shall be made on a primary basis.
(iii) If Xxxxx transfers 100% of the shares of Common Stock
owned by it as of the date of the filing of the Restated Certificate of
Incorporation of the Company (immediately after the reclassification of
capital stock effectuated by the Restated Certificate of Incorporation of
the Company) to one Person or a group of Affiliates, its transferees shall
be deemed to be Xxxxx for purposes of this Section 2.1. If Xxxxx transfers
50% or more, but less than 100%, of the shares of Common Stock owned by it
as of the date of the filing of the Restated Certificate of Incorporation
of the Company (immediately after the reclassification of capital stock
effectuated by the Restated Certificate of Incorporation of the Company) to
one Person or a group of Affiliates, then such transferees shall have the
rights and obligations of Xxxxx under this Section 2.1 to the extent set
forth in an instrument executed by Xxxxx and such transferees. If CB
transfers 100% of the shares of Common Stock owned by it as of the date of
the filing of the Restated Certificate of Incorporation of the Company
(immediately after the reclassification of capital stock effectuated by the
Restated Certificate of Incorporation of the Company) to one Person or a
group of Affiliates, its transferees shall be deemed to be CB for purposes
of this Section 2.1.
2.2. Method of Designation. All designations made pursuant to Section
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2.1 shall be made in writing to the Chairman of the Board of Directors of the
Company (the "Chairman"), and any designation may be changed from time to time
by Xxxxx or CB, as the case may be, by providing written notice thereof to the
Chairman.
2.3. Effect of Designation. Any designation made pursuant to this
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Section 2 shall be included as Board of Directors' nominations of persons for
election to the Board of Directors of the Company pursuant to Section 1.10 of
the Amended and Restated Bylaws of the Company.
2.4. Vacancies. So long as this Agreement shall remain in effect, the
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Bylaws shall provide that Xxxxx or CB, as the case may be, shall have the
exclusive right, in accordance with Section 2.1, to designate for election an
individual to fill any vacancy created by the removal or death of or resignation
by a director originally designated for election by Xxxxx or CB, as the case may
be, pursuant to Section 2.1.
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2.5. Restated Certificate of Incorporation; Bylaws. So long as this
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Agreement shall remain in effect, the Restated Certificate of Incorporation and
the Bylaws shall provide (i) that Xxxxx and CB shall have the right to designate
director nominees pursuant to Section 2.1 and (ii) the rights set forth in
Section 2.4 shall be an exception to the provisions set forth in the Bylaws
governing vacancies on the Board of Directors, and the Bylaws shall provide
that: (i) Xxxxx or CB shall have the right to call a special meeting of
stockholders for the purpose of voting on directors designated for election by
Xxxxx or CB, as the case may be, pursuant to Section 2.1 and (ii) the rights set
forth in Section 2.1 shall be an exception to the requirements set forth in the
Bylaws governing advance notice requirements for stockholder proposals and
director nominations.
2.6. Further Assurances of the Company. The Company will take all
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such actions and execute and deliver such documents as Xxxxx or CB may
reasonably request in order to effectuate the intent and purposes of this
Section 2.
3. Amendment and Modification. This Agreement may be amended, modified
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or supplemented only by written agreement of the Company, Xxxxx and CB.
4. Termination; Nonrenewability. All rights and obligations pursuant to
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this Agreement with respect to Xxxxx shall terminate as provided for in Section
2.1(i). All rights and obligations pursuant to this Agreement with respect to
CB shall terminate as provided in Section 2.1(ii). From and after the date
hereof, no party hereto other than the Company, Xxxxx and CB shall have any
obligations under this Agreement. All rights and obligations terminated
pursuant to this Section 4 may not be renewed or reinstated.
5. Definitions. As used in this Agreement, the following terms shall
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have the meanings ascribed to them below:
(a) Affiliate. The term "Affiliate" shall mean, with respect to any
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Person, any other Person directly or indirectly, through one or
more intermediaries, controlling, controlled by, or under common
control with such Person.
(b) Person. The term "Person" means an individual, corporation,
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partnership, limited liability company, association, trust or
other entity or organization, including a government or political
subdivision or an agency or instrumentality thereof.
(c) Stock. The term "Stock" shall mean all classes of the capital
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stock of the Company, including the following classes of stock:
(i) "Class A Common Stock" shall mean the Class A voting common
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stock of the Company, par value $.01 per share, and shall
include any capital stock of the Company into which such
Class A common stock is converted, reclassified or
exchanged.
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(iii) "Class B Common Stock" shall mean the Class B voting
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common stock of the Company, par value $.01 per share, and
shall include any capital stock of the Company into which
such Class B common stock is converted, reclassified or
exchanged.
(iii) "Common Stock" shall mean the Class A Common Stock and
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the Class B Common Stock and shall include any capital
stock of the Company into which the Class A Common Stock
and the Class B Common Stock are converted, reclassified
or exchanged.
(iv) "Class A Preferred Stock" shall mean the Class A
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convertible preferred stock of the Company, par value
$.01 per share, and shall include any capital stock of
the Company into which such Class A convertible preferred
stock is converted, reclassified or exchanged.
(v) "Class B Preferred Stock" shall mean the Class B
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convertible preferred stock of the Company, par value $.01
per share, and shall include any capital stock of the
Company into which such Class B convertible preferred
stock is converted, reclassified or exchanged.
(vi) "Class C Preferred Stock" shall mean the Class C nonvoting
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convertible preferred stock of the Company, par value $.01
per share, and shall include any capital stock of the
Company into which such Class C convertible preferred
stock is converted, reclassified or exchanged.
(vii) "Class D Preferred Stock" shall mean the Class D
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nonvoting preferred stock of the Company, par value $.01
per share, and shall include any capital stock of the
Company into which such Class D convertible preferred
stock is converted, reclassified or exchanged.
(viii) "Preferred Stock" shall mean the Class A Preferred Stock,
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the Class B Preferred Stock, the Class C Preferred Stock
and the Class D Preferred Stock.
6. Further Assurances. Each of the Company, Xxxxx and CB shall do and
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perform or cause to be done and performed all such further acts and things and
shall execute and deliver all such other agreements, certificates, instruments
and documents as any other party hereto or Person subject hereto may reasonably
request in order to carry out the intent and accomplish the purposes of this
Agreement and the consummation of the transactions contemplated hereby.
7. Governing Law. This Agreement and the rights and obligations of the
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parties hereunder shall be governed by, and construed and interpreted in
accordance with, the laws of the State of Delaware, without giving effect to the
choice of law principles thereof.
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8. Invalidity of Provision. The invalidity or unenforceability of any
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provision of this Agreement in any jurisdiction shall not affect the validity or
enforceability of the remainder of this Agreement in that jurisdiction or the
validity or enforceability of this Agreement, including that provision, in any
other jurisdiction.
9. Notices. All notices, requests, demands, waivers and other
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communications required or permitted to be given under this Agreement shall be
in writing and shall be deemed to have been duly given if (a) delivered
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personally, (b) mailed, certified or registered mail with postage prepaid, (c)
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sent by next-day or overnight mail or delivery or (d) sent by telecopier as
-
follows:
(a) if to the Company, to it at:
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iXL Enterprises, Inc.
0000 Xxxxx Xxxxxx X.X.
Xxxxxxx, Xxxxxxx 00000
Attention: Mr. U. Xxxxxxx Xxxxx, Xx.
Telecopier number: (000) 000-0000
with a copy to:
Xxxxxx & Xxxxxx
0000 Xxxxxxxxx Xxxx, Xxxxx 0000
Xxxxxxx, Xxxxxxx 00000
Telecopier number: (000) 000-0000
Attention: Xxxxx X. Xxxxxxxxx, Esq.;
(b) If to Xxxxx, to it at:
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Xxxxx & Company
000 Xxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telecopier number: (000) 000-0000
Attention: Xxxxx X. Xxxxxxx, XX, Esq.
with a copy to:
Debevoise & Xxxxxxxx
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telecopier number: (000) 000-0000
Attention: Xxxxxxxx X. Xxxxxxxxx, Esq.;
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(c) If to CB, to it at:
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CB Capital Investors, L.P.
000 Xxxxxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000-0000
Telecopier number: (212)
Attention: I. Xxxxxx Xxxxxx
with a copy to:
Xxxxxx X. Xxxxxxxxx, Esq.
X'Xxxxxxxx Graev & Karbell
00 Xxxxxxxxxxx Xxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telecopier number: (000) 000-0000;
or to such other person or address as any party shall specify by notice in
writing to the Company. All such notices, requests, demands, waivers and other
communications shall be deemed to have been received (w) if by personal delivery
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on the day after such delivery, (x) if by certified or registered mail, on the
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seventh business day after the mailing thereof, (y) if by next-day or overnight
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mail or delivery, on the day delivered or (z) if by telecopier on the next day
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following the day on which such telecopy was sent, provided that a copy is also
sent by certified or registered mail.
10. Headings; Execution in Counterparts. The headings and captions
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contained herein are for convenience and shall not control or affect the meaning
or construction of any provision hereof. This Agreement may be executed in any
number of counterparts, each of which shall be deemed to be an original and
which together shall constitute one and the same instrument.
11. Effective Date. This Agreement shall become effective upon the
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closing of the Company's initial public offering of its common stock, par value
$0.01 per share.
[SIGNATURES ON FOLLOWING PAGES]
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IN WITNESS WHEREOF, this Agreement has been signed by each of the parties
hereto as of the date first above written.
iXL ENTERPRISES, INC.
By: /s/ U. Xxxxxxx Xxxxx, Xx.
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Name: U. Xxxxxxx Xxxxx, Xx.
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Title: Chairman & CEO
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XXXXX INVESTMENT ASSOCIATES V, L.P
By: XXXXX PARTNERS V, L.P.
By: /s/ Xxxxxx X. Xxxx XX
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Name: Xxxxxx X. Xxxx XX
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Title: General Partner
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XXXXX EQUITY PARTNERS V, L. P.
By: /s/ Xxxxxx X. Xxxx XX
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Name: Xxxxxx X. Xxxx XX
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Title: General Partner
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STOCKHOLDERS, OTHER THAN XXXXX, OWNING AT LEAST
51% OF THE PREFERRED STOCK OF THE COMPANY:
CB CAPITAL INVESTORS, L.P.
By: CHASE CAPITAL PARTNERS,
its General Partner
By: /s/ I.R. Xxxxxx
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Name: I.R. Xxxxxx
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Title: General Partner
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FLATIRON PARTNERS, LLC
By: /s/ X.X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxx
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Title: Managing Partner
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THE FLATIRON FUND 1998/99, LLC
By: /s/ X.X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxx
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Title: Managing Partner
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FLATIRON ASSOCIATES, LLC
By: Flatiron Partners, LLC, its Manager
By: /s/ X.X. Xxxxxxx
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Name: Xxxxxx X. Xxxxxxx
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Title: Managing Partner
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GENERAL ELECTRIC CAPITAL CORPORATION
By: /s/ Xxxxxx Xxxxxxxxxx, Xx.
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Name: Xxxxxx Xxxxxxxxxx, Xx.
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Title: Dept. Operations Manager
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GREYLOCK IX LIMITED PARTNERSHIP
By: Greylock IX GP Limited Partnership,
its General Partner
By: /s/ Xxxxx X. XxXxxxx
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Name: Xxxxx X. XxXxxxx
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Title: General Partner
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MELLON VENTURES II, L.P., a Delaware Limited
Partnership
By: MVMA II, L.P., a Delaware limited
partnership, its General Partner
By: MVMA, Inc., a Delaware corporation, its
General Partner
By: /s/ Xxxx Xxxxxxxx
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Name: Xxxx Xxxxxxxx
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Title: Principal
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THOMSON U.S. INC.
By: /s/ Xxxxx X. Xxxxxx
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Name: Xxxxx X. Xxxxxx
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Title: Vice President
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/s/ U. Xxxxxxx Xxxxx, Xx.
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U. Xxxxxxx Xxxxx, Xx.
-Page 9 of 14-
SHAREHOLDERS OWNING AT LEAST 51% OF THE CLASS B
COMMON STOCK OF THE COMPANY:
/s/ Xxxxx Xxxxx Xxxxx
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Xxxxx Xxxxx Xxxxx
/s/ Xxxxxx X. Xxxxxx
-----------------------------------
Xxxxxx X. Xxxxxx
/s/ Xxxxxx Xxxx
-----------------------------------
Xxxxxx Xxxx
/s/ Xxxxxxx Xxxxxx
-----------------------------------
Xxxxxxx Xxxxxx
/s/ Xxxxxx X. Xxxx
-----------------------------------
Xxxxxx X. Xxxx
/s/ Xxxxxx Xxxxxx
-----------------------------------
Xxxxxx Xxxxxx
/s/ Xxxx Xxxxxx
-----------------------------------
Xxxx Xxxxxx
/s/ Xxxx Xxxx
-----------------------------------
Xxxx Xxxx
/s/ Xxxxxx Xxxxxx
-----------------------------------
Xxxxxx Xxxxxx
/s/ Xxxxxx X. Xxxxxx
-----------------------------------
Xxxxxx X. Xxxxxx
-----------------------------------
Xxxxxxx X. Xxxx
/s/ Xxxxxxx X. Xxxxxxxxxxx
-----------------------------------
Xxxxxxx X. Xxxxxxxxxxx
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/s/ Xxxxx Xxxxxxxxxx
-----------------------------------
Xxxxx Xxxxxxxxxx
/s/ Xxx Xxxxxxxx
-----------------------------------
Xxx Xxxxxxxx
/s/ Xxxxx X. Xxxxx XX
-----------------------------------
Xxxxx X. Xxxxx XX
/s/ Xxxxx Xxxxx
-----------------------------------
Xxxxx Xxxxx
/s/ Xxxxxxx X. Xxxxx III
-----------------------------------
Xxxxxxx X. Xxxxx III
/s/ Xxxxxxx X. Xxxxxx
-----------------------------------
Xxxxxxx X. Xxxxxx
/s/ U. Xxxxxxx Xxxxx, Xx.
-----------------------------------
U. Xxxxxxx Xxxxx, Xx.
/s/ Xxxxxxx Xxxxxxx Xxxxx
-----------------------------------
Xxxxxxx Xxxxxxx Xxxxx
/s/ Xxxx X. Xxxxxxx
-----------------------------------
Xxxx X. Xxxxxxx
/s/ Xxxx X. Xxxxxxxx
-----------------------------------
Xxxx X. Xxxxxxxx
/s/ Xxxxx X. Xxxxxx
-----------------------------------
Xxxxx X. Xxxxxx
/s/ Xxxxxx Gear
-----------------------------------
Xxxxxx Gear
/s/ Xxxxxxx Xxxxxxx
-----------------------------------
Xxxxxxx Xxxxxxx
/s/ Xxxxxxx X. Xxxxxx
-----------------------------------
Xxxxxxx X. Xxxxxx
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/x/ Xxxxxxx X. Xxxxx, Xx.
___________________________________
Xxxxxxx X. Xxxxx, Xx.
/s/ Xxxxx Xxxxxxx
___________________________________
Xxxxx Xxxxxxx
/s/ Xxxxxxx Xxxxxxx
___________________________________
Xxxxxxx Xxxxxxx
/s/ Xxxxxxx X. Xxxxxxx
___________________________________
Xxxxxxx X. Xxxxxxx
/s/ Xxxx Xxxxxxxxxx
___________________________________
Xxxx Xxxxxxxxxx
/s/ Xxxxxxx Xxxxx
___________________________________
Xxxxxxx Xxxxx
/s/ Xxxxxx Xxxx
___________________________________
Xxxxxx Xxxx
/s/ Xxxxxxx X. Xxxxxx
___________________________________
Xxxxxxx X. Xxxxxx
/s/ Xxxxxxx X. Xxxxxx
___________________________________
Xxxxxxx X. Xxxxxx
/s/ Xxxxxx X. Xxxxxxx
___________________________________
Xxxxxx X. Xxxxxxx
/s/ Xxxxx XxXxxxx
___________________________________
Xxxxx XxXxxxx
/s/ Xxxxx Xxxxxx
___________________________________
Xxxxx Xxxxxx
/s/ Xxxxx Xxxxxx
___________________________________
Xxxxx Xxxxxx
___________________________________
Xxxxx Xxxxxx
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/s/ Xxxxxxx Xxxxxxxx
___________________________________
Xxxxxxx Xxxxxxxx
/s/ Xxxxxx Xxxxx
___________________________________
Xxxxxx Xxxxx
/s/ Xxxx Parent
___________________________________
Xxxx Parent
/s/ N. Xxxxx Xxxxxx
___________________________________
N. Xxxxx Xxxxxx
/s/ Xxxxxxx X. Xxxx
___________________________________
Xxxxxxx X. Xxxx
/s/ Xxxxx Xxxxx
___________________________________
Xxxxx Xxxxx
/s/ Xxxxx X. Xxxxxx
___________________________________
Xxxxx X. Xxxxxx
/s/ Xxxxx Xxxxxxx
___________________________________
Xxxxx Xxxxxxx
/s/ Xxxxx X. Xxxx
___________________________________
Xxxxx X. Xxxx
/s/ Xxxxx Xxxxx
___________________________________
Xxxxx Xxxxx
/s/ Xxxx Xxxxxx
___________________________________
Xxxx Xxxxxx
/s/ Xxxxxxx X. Xxxxxxxx
___________________________________
Xxxxxxx X. Xxxxxxxx
/s/ Xxxx Xxxxxxx
___________________________________
Xxxx Xxxxxxx
/s/ Xxxx Xxxxxxx
___________________________________
Xxxx Xxxxxxx
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/s/ Xxxx X. Xxxxxx
___________________________________
Xxxx X. Xxxxxx
/s/ Xxxxxxx Xxxx
___________________________________
Xxxxxxx Xxxx
/s/ Xxxxxxx Xxxxxxxx
___________________________________
Xxxxxxx Xxxxxxxx
/s/ Xxxxx Xxxx
___________________________________
Xxxxx Xxxx
/s/ Xxxxxxx X. Xxxxxxx
___________________________________
Xxxxxxx X. Xxxxxxx
/s/ Xxxxxxxxx Xxxxxxx
___________________________________
Xxxxxxxxx Xxxxxxx
/s/ Xxxxxx Xxxxxxx
___________________________________
Xxxxxx Xxxxxxx
/s/ Xxxxx Xxxxx
___________________________________
Xxxxx Xxxxx
___________________________________
GE Capital Equity Investments, Inc.
By: /s/ Xxxxxxxx X. Xxxxxx
________________________________
Name: Xxxxxxxx X. Xxxxxx
Title: Managing Director
/s/ Xxxxx Xxxx
___________________________________
Wall 1999 Special Trust
/s/ Xxxxx Xxxx
___________________________________
Wall 1999 Family Trust
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