SELECT COMFORT CORPORATION AMENDMENT NUMBER 2 TO AMENDED AND RESTATED REGISTRATION RIGHTS AGREEMENT
Exhibit 4.7
SELECT COMFORT CORPORATION
AMENDMENT NUMBER 2 TO
AMENDED AND RESTATED
REGISTRATION RIGHTS AGREEMENT
This Amendment Number 2 to the Amended and Restated Registration Rights
Agreement is made this 24th day of March, 1997 among Select Comfort Corporation,
a Minnesota corporation (the "COMPANY"), and each of the Holders, as such term
is defined in that certain Amended and Restated Registration Rights Agreement
dated December 28, 1995, as amended by that certain Amendment Number 1 to
Amended and Restated Registration Rights Agreement, made as of April 25, 1996
(the "REGISTRATION RIGHTS AGREEMENT").
WHEREAS, the Company intends to obtain $15 million in senior subordinated
debt financing from General Electric Capital Corporation ("GECC"), which
financing provides for the issuance by the Company to GECC of warrants to
purchase an aggregate of up to 2,100,000 shares of common stock of the Company
(the "GE WARRANTS"); and
WHEREAS, the GE Warrants provide the Holders thereof with certain
registration rights, and the Company, GECC and the Holders desire to coordinate
the relative priorities of the registration rights of the Holders and of the
holders of the GE Warrants, all as more fully set forth herein; and
WHEREAS, terms used herein with an initial capital letter, unless otherwise
expressly defined herein, shall have the meaning given to such terms in the
Registration Rights Agreement.
NOW, THEREFORE, for good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, the Company and the Holders agree as
follows:
1. AMENDMENT OF SECTION 10 OF THE REGISTRATION RIGHTS AGREEMENT.
Section 10 of the Registration Rights Agreement is hereby modified and amended
to add a new Section 10.4 thereto, which new Section 10.4 shall read in its
entirety as follows:
Section 10.4 Notwithstanding anything contained herein to the
contrary, in the event that the holder or holders of the GE Warrants
exercise the incidental registration rights set forth in Section 9.4
of the GE Warrants, as originally issued, and if the managing
underwriter of the proposed offering advises the Company in writing
that in its opinion the distribution of the shares underlying the GE
Warrants requested to be included in the registration concurrently
with the securities being registered by the Company or the security
holders demanding such registration would materially and adversely
affect the distribution of such securities by the Company or such
demanding security holders, then the rights of the holder or holders
of the GE Warrants to include the shares underlying the GE Warrants in
such registration shall be on a PARI PASSU basis with the Holders,
such that to the extent that any shares held by selling security
holders are to be excluded from any such registration, such shares
will be excluded on a pro rata basis among the Holders and the holder
or holders of the GE Warrants.
2. FORCE OF AMENDMENT. Except as specifically amended hereby, the
Registration Rights Agreement shall remain in full force and effect.
3. COUNTERPARTS. This Amendment Number 2 may be executed
concurrently in two or more counterparts, each of which shall be deemed an
original, but all of which together shall constitute one and the same
instrument.
IN WITNESS WHEREOF, the Company has caused this Amendment Number 2 to be
executed by its duly authorized representative and each of the Holders has
caused this Amendment Number 2 to be duly executed and delivered.
SELECT COMFORT CORPORATION,
a Minnesota corporation
By: /s/
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Its: EVP - CFO & CAO
ST. XXXX FIRE AND MARINE
INSURANCE CO., a Minnesota corporation
By: /s/
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Its: Vice President
CHERRY TREE VENTURES IV,
a Minnesota Limited Partnership
By: /s/
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Its General Partner
CONSUMER VENTURE PARTNERS I,
L.P., a Delaware Limited Partnership
By: Consumer Venture Associates, L.P.,
Its General Partner
By: /s/
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Its General Partner
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CONSUMER VENTURE PARTNERS II,
L.P., a Delaware Limited Partnership
By: Consumer Venture Associates II, L.P.,
Its General Partner
By: /s/
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Its General Partner
APEX INVESTMENT FUND, L.P.,
a Delaware Limited Partnership
By: Apex Management Partnership,
Its General Partner
By: Stellar Investment Co.,
Its Managing General Partner
By: /s/
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Xxxxx X. Xxxxxxx, President
THE PRODUCTIVITY FUND II, L.P.,
a Delaware Limited Partnership
By: First Analysis Management Company
II,
Its General Partner
By: First Analysis Corporation,
Its General Partner
By: /s/
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Its:
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KCB BV, L.P.,
a California Limited Partnership
By: KCB BV, INC.,
Its General Partner
By: /s/
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Xxxxxx X. Xxxxx, President
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NORWEST EQUITY PARTNERS IV,
a Minnesota Limited Partnership
By: Itasca Partners
Its General Partner
By:
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Its:
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NORWEST EQUITY PARTNERS V,
a Minnesota Limited Partnership
By: Itasca Partners V
Its General Partner
By:
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Its:
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XXXXXXXX INVESTMENTS,
a General Partnership
By: /s/
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Its General Partner
H & Q SELECT COMFORT INVESTORS
L.P., a limited partnership
By: H & Q Select Comfort Investors L.L.C.
Its General Partner
By: /s/
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Its:
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H & Q LONDON VENTURES
By: /s/
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Its:
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MARQUETTE VENTURE PARTNERS II,
L.P., a limited partnership
By: /s/
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Its:
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MVP II AFFILIATES FUND, L.P.,
a limited partnership
By: /s/
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Its:
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XXXXX LIMITED PARTNERSHIP
By: /s/
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Its:
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XXXXX XXXXXX INCORPORATED,
CUSTODIAN OF XXXX X. XXXXX
DECEDENT XXX
By: /s/
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Its:
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BAYVIEW HOLDERS, LTD.
By:
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Its:
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ALEX. XXXXX & SONS EMPLOYEES
VENTURE FUND LP
By:
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Its:
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XXXXXXXXXX ASSOCIATES, 1992 L.P.
By: /s/
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Its:
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/s/
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