VOTING AGREEMENT
Exhibit 99.1
VOTING AGREEMENT, dated as of November 2, 2010 (this “Agreement”) between Oracle Corporation,
a Delaware corporation (“Parent”), and the individual listed as “Stockholder” on the signature page
hereto (“Stockholder”).
WHEREAS, as a condition and inducement to Parent’s and Amsterdam Acquisition Sub Corporation’s
(“Merger Sub”) willingness to enter into an Agreement and Plan of Merger, dated as of the date
hereof (the “Merger Agreement”), with Art Technology Group, Inc., a Delaware corporation (the
“Company”), Parent has requested Stockholder, and Stockholder has agreed, to enter into this
Agreement with respect to all shares of common stock, par value $0.01 per share, of the Company
that Stockholder beneficially owns (within the meaning of Rule 13d-3 under the Securities Exchange
Act of 1934, as amended) (the “Shares”).
NOW, THEREFORE, the parties hereto agree as follows:
ARTICLE 1
Voting Agreement; Grant of Proxy
Voting Agreement; Grant of Proxy
Section 1.01. Voting Agreement. Stockholder hereby agrees to vote or exercise its right to
consent with respect to all Shares that Stockholder is entitled to vote at the time of any vote or
action by written consent to approve and adopt the Merger Agreement, the Merger and all agreements
related to the Merger and any actions related thereto at any meeting of the stockholders of the
Company, and at any adjournment thereof, at which such Merger Agreement and other related
agreements (or any amended version thereof), or such other actions, are submitted for the
consideration and vote of the stockholders of the Company. Stockholder hereby agrees that it will
not vote any Shares in favor of, or consent to, and will vote against and not consent to, the
approval of any (i) Acquisition Proposal, (ii) reorganization, recapitalization, liquidation or
winding-up of the Company or any other extraordinary transaction involving the Company other than
the Merger, (iii) corporate action the consummation of which would frustrate the purposes, or
prevent or delay the consummation, of the transactions contemplated by the Merger Agreement or (iv)
other matter relating to, or in connection with, any of the foregoing matters.
Section 1.02. Irrevocable Proxy. Stockholder hereby revokes any and all previous proxies
granted with respect to the Shares. By entering into this Agreement, Stockholder hereby grants a
proxy appointing Parent as Stockholder’s attorney-in-fact and proxy, with full power of
substitution, for and in Stockholder’s name, to vote, express consent or dissent, or otherwise to
utilize such voting power in the manner contemplated by Section 1.01 above as Parent or its proxy
or substitute shall, in Parent’s sole discretion, deem proper with respect
to the Shares. The proxy granted by Stockholder pursuant to this Article 1 is irrevocable and
is granted in consideration of Parent entering into this Agreement and the Merger Agreement and
incurring certain related fees and expenses. The proxy granted by Stockholder shall not be
exercised to vote, consent or act on any matter except as contemplated by Section 1.01 above. The
proxy granted by Stockholder shall be revoked upon termination of this Agreement in accordance with
its terms.
ARTICLE 2
Representations and Warranties of Stockholder
Representations and Warranties of Stockholder
Stockholder represents and warrants to Parent that:
Section 2.01. Corporation Authorization. The execution, delivery and performance by
Stockholder of this Agreement and the consummation by Stockholder of the transactions contemplated
hereby are within the powers (corporate and otherwise) of Stockholder and, if applicable, have been
duly authorized by all necessary corporate action. This Agreement constitutes a valid and binding
Agreement of Stockholder, enforceable against Stockholder in accordance with its terms, subject to
the effect of any applicable bankruptcy, insolvency, moratorium or similar law affecting creditors’
rights generally and to rules of law governing specific performance, injunctive relief and other
equitable remedies. If Stockholder is married and the Shares and Company Compensatory Awards set
forth on the signature page hereto opposite such Stockholder’s name constitute community property
under Applicable Law, this Agreement has been duly authorized, executed and delivered by, and
constitutes the valid and binding agreement of, such Stockholder’s spouse, enforceable against such
Stockholder’s spouse in accordance with its terms, subject to the effect of any applicable
bankruptcy, insolvency, moratorium or similar law affecting creditors’ rights generally and to
rules of law governing specific performance, injunctive relief and other equitable remedies. If
this Agreement is being executed in representative or fiduciary capacity, the Person signing this
Agreement has full power and authority to enter into and perform this Agreement.
Section 2.02. Non-Contravention. The execution, delivery and performance by Stockholder of
this Agreement and the consummation of the transactions contemplated hereby do not and will not (i)
violate the certificate of incorporation or bylaws of Stockholder, if any, (ii) violate any
Applicable Law, (iii) conflict with or violate or require any consent, approval, notice or other
action by any Person under, constitute a default under, or give rise to any right of termination,
cancellation or acceleration or to a loss of any benefit to which Stockholder is entitled under any
provision of any agreement or other instrument binding on Stockholder or any of Stockholder’s
properties or assets, including, without limitation, the Shares or (iv) result in the imposition of
any Lien on any asset of Stockholder.
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Section 2.03. Ownership of Shares. Stockholder (together with Stockholder’s spouse if
Stockholder is married and the Shares and Company Compensatory Awards set forth on the signature
page hereto opposite such Stockholder’s name constitute community property under Applicable Law) is
the record and/or beneficial owner of the Shares and Company Compensatory Awards set forth on the
signature page hereto opposite such Stockholder’s name, free and clear of any Lien and any other
limitation or restriction (including any restriction on the right to vote or otherwise dispose of
the Shares). None of the Shares or Company Compensatory Awards is subject to any voting trust or
other agreement or arrangement with respect to the voting of such Shares or Company Compensatory
Awards (including Shares underlying such Company Compensatory Awards).
Section 2.04. Total Shares. Except for the Shares set forth on the signature page hereto
(including Shares underlying Company Compensatory Awards), Stockholder does not beneficially own
any (i) shares of capital stock or voting securities of the Company, (ii) securities of the Company
convertible into or exchangeable for shares of capital stock or voting securities of the Company or
(iii) options or other rights to acquire from the Company any capital stock, voting securities or
securities convertible into or exchangeable for capital stock or voting securities of the Company.
Section 2.05. Finder’s Fees. No investment banker, broker, finder or other intermediary is
entitled to a fee or commission from Parent or the Company in respect of this Agreement based upon
any arrangement or agreement made by or on behalf of Stockholder.
ARTICLE 3
Representations and Warranties of Parent
Representations and Warranties of Parent
Parent represents and warrants to Stockholder:
Section 3.01. Corporation Authorization. The execution, delivery and performance by Parent
of this Agreement and the consummation by Parent of the transactions contemplated hereby are within
the corporate powers of Parent and have been duly authorized by all necessary corporate action.
This Agreement constitutes a valid and binding agreement of Parent, enforceable against Parent in
accordance with its terms, subject to the effect of any applicable bankruptcy, insolvency,
moratorium or similar law affecting creditors’ rights generally and to rules of law governing
specific performance, injunctive relief and other equitable remedies.
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ARTICLE 4
Covenants of Stockholder
Covenants of Stockholder
Stockholder hereby covenants and agrees that:
Section 4.01. No Proxies for or Encumbrances on Shares. (a) Except pursuant to the terms of
this Agreement, Stockholder shall not, without the prior written consent of Parent, directly or
indirectly (except, if Stockholder is an individual, as a result of the death of Stockholder), (i)
grant any proxies or enter into any voting trust or other agreement or arrangement with respect to
the voting of any Shares or (ii) sell, assign, transfer, encumber or otherwise dispose of, or enter
into any contract, option or other arrangement or understanding with respect to the direct or
indirect sale, assignment, transfer, encumbrance or other disposition of, any Shares during the
term of this Agreement, or seek to do or solicit any of the foregoing actions, and agrees to notify
Parent promptly, and to provide all details requested by Parent, if Stockholder shall be approached
or solicited, directly or indirectly, by any Person with respect to any of the foregoing.
(b) Notwithstanding the foregoing clause (a), Stockholder may (i) transfer Shares to any
member of Stockholder’s immediate family or to a trust for the benefit of Stockholder or any member
of Stockholder’s immediate family, (ii) upon the exercise of any Company Stock Option, sell Shares
in an amount that is sufficient to (x) pay the exercise price of such Company Stock Option, and (y)
satisfy the payment of any income or other tax liability incurred by Stockholder in connection with
such exercise, or (iii) upon the vesting of any Company RSU, sell Shares in an amount that is
sufficient to satisfy the payment of any income or other tax liability incurred by Stockholder in
connection with such vesting; provided that in the case of clause (i) of this sentence, a transfer
referred to in this sentence shall be permitted only if, as a precondition to such transfer, the
transferee agrees in a writing, reasonably satisfactory in form and substance to Parent, to be
bound by all of the terms of this Agreement.
Section 4.02. Other Offers. Stockholder (in Stockholder’s capacity as such), and each of its
Subsidiaries, if any, shall not, and shall use its reasonable best efforts to cause its officers,
directors, employees or other agents, if any, not to, directly or indirectly, (i) solicit, initiate
or take any action to facilitate or encourage the submission of any Acquisition Proposal or any
inquiries or the making of any proposal that could reasonably be expected to lead to any
Acquisition Proposal, or (ii) conduct or engage in any discussions or negotiations with, disclose
any non-public information relating to the Company or any of its Subsidiaries to, afford access to
the non-public business, properties, assets, books or records of the Company or any of its
Subsidiaries to, or otherwise cooperate in any way with, or knowingly assist, participate in,
facilitate or encourage any effort by, any Third Party that may be considering making, or has made,
an Acquisition Proposal, or has agreed to endorse an Acquisition Proposal provided,
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however, that Stockholder shall not be barred from entering into a voting agreement,
containing terms that are substantially the same as those contained herein (including termination
concurrent with the termination of any related agreement and plan of merger), with any Third Party
that submits an Acquisition Proposal that, in accordance with Section 6.03 of the Merger Agreement,
the Board of Directors of the Company has determined is a Superior Proposal. Stockholder shall
notify Parent promptly (but in no event later than 24 hours) after receipt by Stockholder or any of
its Subsidiaries, if any (or any of its or their Representatives), of any Acquisition Proposal, any
inquiry that would reasonably be expected to lead to an Acquisition Proposal, any request for
non-public information relating to the Company or any of its Subsidiaries or for access to the
non-public business, properties, assets, books or records of the Company or any of its Subsidiaries
by any Third Party or any other indication that a Third Party is considering making an Acquisition
Proposal. Stockholder shall provide such notice orally and in writing and shall identify the Third
Party making, and the material terms and conditions of, any such Acquisition Proposal, indication
or request. Stockholder shall keep Parent informed, as promptly as practicable, of the status and
terms of any such Acquisition Proposal, indication or request, including the material resolved and
unresolved issues related thereto and material amendments or proposed amendments as to price and
other material terms thereof.
Section 4.03. Communications. Stockholder, and each of its Subsidiaries, if any, shall not,
and shall cause its officers, directors, employees or other agents, if any, not to, directly or
indirectly, make any press release, public announcement or other public communications that
criticizes or disparages this Agreement or the Merger Agreement or the transactions contemplated
hereby and thereby, without the prior written consent of Parent. Stockholder hereby (i) consents
to and authorizes the publication and disclosure by Parent of Stockholder’s identity and holding of
Shares, and the nature of Stockholder’s commitments, arrangements and understandings under this
Agreement, and any other information that Parent determines to be necessary in any SEC disclosure
document in connection with the Merger or any other transactions contemplated by the Merger
Agreement and (ii) agrees as promptly as practicable to notify Parent of any required corrections
with respect to any written information supplied by it specifically for use in any such disclosure
document.
Section 4.04. Additional Shares. In the event that Stockholder acquires record or beneficial
ownership of, or the power to vote or direct the voting of, any additional voting interest with
respect to the Company, such voting interests shall, without further action of the parties, be
subject to the provisions of this Agreement, and the number of Shares set forth on the signature
page hereto will be deemed amended accordingly. Stockholder shall promptly notify Parent of any
such event.
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Section 4.05. Waiver of Appraisal and Dissenters’ Rights and Actions. Stockholder hereby (i)
waives and agrees not to exercise any rights (including under Section 262 of the General
Corporation Law of the State of Delaware) to demand appraisal of any Shares or rights to dissent
from the Merger which may arise with respect to the Merger and (ii) agrees not to commence or
participate in, and to take all actions necessary to opt out of any class in any class action with
respect to, any claim, derivative or otherwise, against Parent, Merger Sub, the Company or any of
their respective successors relating to the negotiation, execution or delivery of this Agreement or
the Merger Agreement or the consummation of the Merger, including any claim (x) challenging the
validity of, seeking to enjoin the operation of, any provision of this Agreement or (y) alleging a
breach of any fiduciary duty of the Board of Directors of the Company in connection with the Merger
Agreement or the transactions contemplated thereby.
ARTICLE 5
Miscellaneous
Miscellaneous
Section 5.01. Other Definitional and Interpretative Provisions. Unless specified otherwise,
in this Agreement the obligations of any party consisting of more than one person are joint and
several. The words “hereof”, “herein” and “hereunder” and words of like import used in this
Agreement shall refer to this Agreement as a whole and not to any particular provision of this
Agreement. The captions herein are included for convenience of reference only and shall be ignored
in the construction or interpretation hereof. References to Articles, Sections, Exhibits and
Schedules are to Articles, Sections, Exhibits and Schedules of this Agreement unless otherwise
specified. All Exhibits and Schedules annexed hereto or referred to herein are hereby incorporated
in and made a part of this Agreement as if set forth in full herein. Any capitalized terms used in
any Exhibit or Schedule but not otherwise defined therein, shall have the meaning as defined in
this Agreement. Any singular term in this Agreement shall be deemed to include the plural, and any
plural term the singular. Whenever the words “include”, “includes” or “including” are used in this
Agreement, they shall be deemed to be followed by the words “without limitation”, whether or not
they are in fact followed by those words or words of like import. “Writing”, “written” and
comparable terms refer to printing, typing and other means of reproducing words (including
electronic media) in a visible form. References to any agreement or contract are to that agreement
or contract as amended, modified or supplemented from time to time in accordance with the terms
hereof and thereof. References to any Person include the successors and permitted assigns of that
Person. References from or through any date mean, unless otherwise specified, from and including
or through and including, respectively.
Section 5.02. Further Assurances. Parent and Stockholder (in its capacity as such) will each
execute and deliver, or cause to be executed and delivered, all further documents and instruments
as the other may reasonably request and use its
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reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be
done, all things necessary and all things the other party may reasonably deem proper or advisable
under applicable laws and regulations, to consummate and make effective the transactions
contemplated by this Agreement.
Section 5.03. Amendments; Termination. Any provision of this Agreement may be amended or
waived if, but only if, such amendment or waiver is in writing and is signed, in the case of an
amendment, by each party to this Agreement or in the case of a waiver, by the party against whom
the waiver is to be effective. This Agreement shall terminate upon the earlier of the Effective
Time or the termination of the Merger Agreement in accordance with its terms.
Section 5.04. Expenses. All costs and expenses incurred in connection with this Agreement
shall be paid by the party incurring such cost or expense.
Section 5.05. Successors and Assigns. The provisions of this Agreement shall be binding upon
and inure to the benefit of the parties hereto and their respective successors and assigns;
provided that Stockholder may not assign, delegate or otherwise transfer any of its rights or
obligations under this Agreement without the prior written consent of Parent. Any assignment in
violation of the foregoing shall be null and void.
Section 5.06. Governing Law. This Agreement shall be governed by and construed in accordance
with and governed by the laws of the State of Delaware, without regard to the conflicts of law
rules of such State.
Section 5.07. Counterparts; Effectiveness. This Agreement may be signed in any number of
counterparts, each of which shall be an original, with the same effect as if the signatures thereto
and hereto were upon the same instrument. This Agreement shall become effective when each party
hereto shall have received counterparts hereof signed by all of the other parties hereto and the
Merger Agreement has become effective. Until and unless each party has received a counterpart
hereof signed by the other party hereto and the Merger Agreement has become effective, this
Agreement shall have no effect and no party shall have any right or obligation hereunder (whether
by virtue of any other oral or written agreement or other communication).
Section 5.08. Severability. If any term, provision, covenant or restriction of this
Agreement is held by a court of competent jurisdiction or other Governmental Authority to be
invalid, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions
of this Agreement shall remain in full force and effect and shall in no way be affected, impaired
or invalidated 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 a determination, the
parties shall negotiate in good faith to modify this Agreement so as to effect the original intent
of the parties as closely as possible in an
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acceptable manner in order that the transactions contemplated hereby be consummated as
originally contemplated to the fullest extent possible.
Section 5.09. Specific Performance. The parties hereto agree that irreparable damage would
occur if any provision of this Agreement were not performed in accordance with the terms hereof and
that the parties shall be entitled to an injunction or injunctions to prevent breaches of this
Agreement or to enforce specifically the performance of the terms and provisions hereof in any
federal court located in the State of Delaware or any Delaware state court, in addition to any
other remedy to which they are entitled at law or in equity.
Section 5.10. Capitalized Terms. Capitalized terms used but not defined herein shall have
the respective meanings set forth in the Merger Agreement.
Section 5.11. Action in Stockholder’s Capacity Only. Stockholder, if a director or officer
of the Company, does not make any agreement or understanding herein as a director or officer of the
Company. Stockholder signs this Agreement solely in his or her capacity as a beneficial owner of
the Shares and nothing herein shall limit or affect any actions taken in his or her capacity as an
officer or director of the Company, including complying with or exercising such Stockholder’s
fiduciary duties as a member of the Board of Directors of the Company.
Section 5.12. Notices. Any notices or other communications required or permitted under, or
otherwise given in connection with, this Agreement shall be in writing and shall be deemed to have
been duly given (i) when delivered or sent if delivered in person or sent by facsimile transmission
(provided confirmation of facsimile transmission is obtained), (ii) on the fifth Business Day after
dispatch by registered or certified mail, (iii) on the next Business Day if transmitted by national
overnight courier or (iv) on the date delivered if sent by email (provided confirmation of email
receipt is obtained), in each case as follows:
if to Parent, to:
Oracle Corporation
000 Xxxxxx Xxxxxxx
Xxxxxxx Xxxx, Xxxxxxxxxx 00000
Attention: General Counsel
Associate General Counsel, Mergers and Acquisitions
Facsimile No.: (000) 000-0000
000 Xxxxxx Xxxxxxx
Xxxxxxx Xxxx, Xxxxxxxxxx 00000
Attention: General Counsel
Associate General Counsel, Mergers and Acquisitions
Facsimile No.: (000) 000-0000
with a copy to:
Xxxxx Xxxx & Xxxxxxxx LLP
0000 Xx Xxxxxx Xxxx
0000 Xx Xxxxxx Xxxx
0
Xxxxx Xxxx, Xxxxxxxxxx 00000
Attention: Xxxxx X. Xxxxxx
Facsimile No.: (000) 000-0000
Attention: Xxxxx X. Xxxxxx
Facsimile No.: (000) 000-0000
if to Stockholder, to: the address for notice set forth on the signature page
hereof
with a copy to:
Art Technology Group, Inc.
Xxx Xxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxxxxxxx 00000
Attention: Chief Executive Officer and President
Facsimile No.: (000) 000-0000
Xxx Xxxx Xxxxxx
Xxxxxxxxx, Xxxxxxxxxxxxx 00000
Attention: Chief Executive Officer and President
Facsimile No.: (000) 000-0000
Section 5.13. Waiver of Jury Trial. EACH OF THE PARTIES HERETO HEREBY IRREVOCABLY WAIVES ANY
AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING ARISING OUT OF OR RELATED TO THIS AGREEMENT
OR THE TRANSACTIONS CONTEMPLATED HEREBY.
Section 5.14. Rules of Construction. The parties hereto agree that they have been
represented by counsel during the negotiation and execution of this Agreement and, therefore, waive
the application of any law, regulation, holding or rule of construction providing that ambiguities
in an agreement or other document will be construed against the party drafting such agreement or
document.
Section 5.15. Waiver. No failure on the part of any party to exercise any power, right,
privilege or remedy under this Agreement, and no delay on the part of any party in exercising any
power, right, privilege or remedy under this Agreement, shall operate as a waiver of such power,
right, privilege or remedy; and no single or partial exercise of any such power, right, privilege
or remedy shall preclude any other or further exercise thereof or of any other power, right,
privilege or remedy. A party hereto shall not be deemed to have waived any claim arising out of
this Agreement, or any power, right, privilege or remedy under this Agreement, unless the waiver of
such claim, power, right, privilege or remedy is expressly set forth in a written instrument duly
executed and delivered on behalf of such party; and any such waiver shall not be applicable or have
any effect except in the specific instance in which it is given.
Section 5.16. No Ownership Interest. All rights, ownership and economic benefits of and
relating to the Shares and Company Compensatory Awards shall remain vested in and belong to
Stockholder, and Parent shall have no authority to exercise any power or authority to direct
Stockholder in the voting of any of the
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Shares, except as otherwise specifically provided herein, or in the performance of
Stockholder’s duties or responsibilities as a stockholder of the Company.
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IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed as of the day
and year first above written.
ORACLE CORPORATION |
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By: | ||||
Name: | ||||
Title: | ||||
STOCKHOLDER: |
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By: | ||||
Name: | ||||
Title: | ||||
Address for notices: SPOUSE OF STOCKHOLDER: |
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Name: | ||||
Shares subject to | Shares subject to | |||||||||||
Class of Stock | Shares Owned | Company Stock Options | Company RSUs | |||||||||
Common Stock |
SCHEDULE OF SIGNATORIES OTHER THAN ORACLE CORPORATION
1. | Xxxxxx X. Xxxxx |
2. | Xxxxx M.B. Xxxxxxx |
3. | Xxxxxxx X. Xxxxxx |
4. | Xxxxx X. Xxxxx |
5. | Xxxxx X. Xxxxxxx |
6. | Xxxxx X. Xxxx, Xx. |
7. | Xxxx X. Held |
8. | Xxxx Xxxxxx |
9. | Xxxxx XxXxxx |
10. | Xxxxx X. XxXxxxxx |
11. | Xxxx X. Xxxxxx |
12. | Xxxxxxxx X’Xxxxx |
13. | Xxxxxx X. Xxxxx |
14. | Xxxxxx Xxxxxxxx |
15. | Xxxxxxx X. Xxxxxxx |
16. | Xxxxxxx X. Xxxxx |