EXHIBIT 7
AMENDMENT NO. 1 TO
STOCK AND WARRANT PURCHASE AND EXCHANGE AGREEMENT
THIS AMENDMENT NO. 1 TO STOCK AND WARRANT PURCHASE AND EXCHANGE
AGREEMENT, dated as of November 9, 2001 (this "Amendment"), is entered into by
---------
and among Critical Path, Inc., a California corporation (the "Seller"), General
------
Atlantic Partners 74 L.P., a Delaware limited partnership, GAP Coinvestment
Partners II, L.P., a Delaware limited partnership, GapStar, LLC, a Delaware
limited liability company, Vectis CP Holdings, LLC, Cenwell Limited and Campina
Enterprises Limited (collectively, the "Purchasers") and amends the Stock and
----------
Warrant Purchase and Exchange Agreement, dated November 8, 2001 (the "Purchase
--------
Agreement"), among the Seller and the Purchasers.
---------
WHEREAS, pursuant to the terms of the Purchase (i) the Company agreed
to issue and sell to the Purchasers an aggregate of 4,000,000 shares, par value
$0.001 per share, of Series D Cumulative Redeemable Convertible Participating
Preferred Stock of the Company and (ii) the GAP Purchasers (as defined in the
Purchase Agreement) are acquiring from the Seller warrants to purchase, at an
exercise price of $1.05 per share, an aggregate of 2,500,000 shares of common
stock, par value $0.001 per share, of Seller; and
WHEREAS, the parties wish to amend the Purchase Agreement pursuant to
Section 10.4 thereof.
NOW, THEREFORE, the parties hereto hereby agree as follows:
1. Schedule 2.1. Schedule 2.1. of the Purchase Agreement is hereby
------------ ------------
amended and restated in its entirety as set forth on Schedule 2.1 attached
------------
hereto.
2. Except as otherwise expressly provided in this Amendment, all of
the terms and conditions of the Purchase Agreement are hereby ratified and shall
remain unchanged and continue in full force and effect.
2
3. This Amendment may be executed in any number of counterparts and by
the parties hereto in separate counterparts, each of which when so executed
shall be deemed to be an original and all of which taken together shall
constitute one and the same agreement.
4. This Amendment shall be governed by and construed in accordance
with the laws of the state of New York, without regard to the principles of
conflicts of law of any jurisdiction.
3
IN WITNESS WHEREOF, the undersigned have duly executed and delivered
this Amendment as of the day and year first above written.
CRITICAL PATH, INC.
By:____________________________________
Name:
Title:
GENERAL ATLANTIC PARTNERS 74, L.P.
By: GENERAL ATLANTIC PARTNERS, LLC,
its General Partner
By:____________________________________
Name:
Title: A Managing Member
GAP COINVESTMENT PARTNERS II, L.P.
By:____________________________________
Name:
Title: A General Partner
GAPSTAR, LLC
By: GENERAL ATLANTIC PARTNERS, LLC,
its Managing Member
By:____________________________________
Name:
Title:
4
VECTIS CP HOLDINGS, LLC
By: VECTIS GROUP, LLC,
its Managing Member
By:______________________________________
Name:
Title:
CENWELL LIMITED
By:______________________________________
Name:
Title:
CAMPINA ENTERPRISES LIMITED
By:______________________________________
Name:
Title:
5
Schedule 2.1
------------
Purchased Shares and Purchase Price
-----------------------------------
-------------------------------------------------------------------------------------------------------------
Purchaser Purchased Shares Purchase Price
--------- ---------------- --------------
-------------------------------------------------------------------------------------------------------------
GAP LP 581,688 $ 7,998,210.00
-------------------------------------------------------------------------------------------------------------
GAP Coinvestment 82,097 $ 1,128,833.75
------------------------------------------------------------------------------------------------------------
GapStar 44,252 $ 608,465.00
-------------------------------------------------------------------------------------------------------------
Vectis CP Holdings, LLC 581,818 $ 7,999,997.50/1/
-------------------------------------------------------------------------------------------------------------
Cenwell Limited 436,364 $ 5,999,998.13
-------------------------------------------------------------------------------------------------------------
Campina Enterprises Limited 436,363 $ 5,999,998.12
-------------------------------------------------------------------------------------------------------------
Total: 2,162,582 $29,735,502.50
-------------------------------------------------------------------------------------------------------------
_______________________
/1/ This amount is comprised of (i) cash in the amount of $5,250,000 and (ii)
value for services provided by Vectis to the Company under the Vectis
Agreement in the amount of $2,749,997.50.
