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EXHIBIT 4.2.2
XXXXX AFFILIATE AGREEMENT
This Xxxxx Affiliate Agreement (this "Affiliate Agreement") is made and
entered into as of July 29, 1997 (the "Effective Date") among Access Beyond,
Inc., a Delaware corporation ("Access Beyond"), Xxxxx Microcomputer Products,
Inc., a Georgia corporation ("Xxxxx") and Rinzai Limited ("Shareholder") who is
an affiliate of Xxxxx.
RECITALS
A. This Affiliate Agreement is entered into pursuant to that certain
Agreement and Plan of Reorganization dated as of July 29, 1997 between Access
Beyond and Xxxxx (as such may be amended the "Merger Agreement") which provides
(subject to the conditions set forth therein) for the merger of a wholly owned
subsidiary of Access Beyond ("Newco") with and into Xxxxx in a reverse
triangular merger (the "Merger"), with Xxxxx to be the surviving corporation of
the Merger, all pursuant to the terms and conditions of the Merger Agreement and
the Agreement of Merger to be entered into between Newco and Xxxxx in the form
attached to the Merger Agreement (the "Agreement of Merger"). The Merger
Agreement and the Agreement of Merger are collectively referred to herein as the
"Merger Agreements." Capitalized terms used but not otherwise defined in this
Affiliate Agreement have the meanings ascribed to such terms in the Merger
Agreement.
B. The Merger Agreements provide that, in the Merger, the shares of
Xxxxx Common Stock and shares of Xxxxx Series A Preferred Stock that are issued
and outstanding at the Effective Time of the Merger will be converted into
shares of Access Beyond Common Stock and the shares of Xxxxx Series B Preferred
Stock that are issued and outstanding at the Effective Time of the Merger will
be converted into shares of Access Beyond Series A Stock, all as more
particularly set forth in the Merger Agreement
C. Shareholder understands that Shareholder is deemed an "affiliate" of
Xxxxx within the meaning of the Securities Act of 1933, as amended (the "1933
Act"), and that any shares of Access Beyond capital stock acquired by the
Shareholder in the Merger may be disposed of only in conformity with the
limitations described herein.
A G R E E M E N T
1. TAX TREATMENT, RELIANCE. Shareholder understands and agrees that it
is intended that the Merger will be treated as a tax-free reorganization for
federal income tax purposes and that such treatment requires that a sufficient
number of former stockholders of Xxxxx maintain a meaningful continuing equity
ownership interest in Access Beyond after the Merger. Shareholder understands
that the representations, warranties and covenants of Shareholder set forth
herein will be relied upon by Xxxxx and Access Beyond and their respective
counsel and accounting firms and
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by Xxxxx' stockholders. Shareholder will rely on Shareholder's own tax advisers
as to the tax attributes of the Merger to Shareholder and understands that
neither Access Beyond, nor Access Beyond's counsel, Xxxxx or Xxxxx' counsel has
guaranteed nor will guarantee to Shareholder that the Merger will be a tax-free
reorganization, nor shall any of them have any liability to Shareholder as a
result of issuing any opinion in respect thereof that may be required in
connection with any registration statement under the 1933 Act.
2. REPRESENTATIONS, WARRANTIES, AND COVENANTS OF SHAREHOLDER.
Shareholder represents, warrants and covenants as follows.
(a) Authority; Affiliate Status. Shareholder has all requisite
right, power, legal capacity and authority to execute, deliver and perform this
Affiliate Agreement and to perform its obligations hereunder. Shareholder
further understands and agrees that Shareholder is deemed to be an "affiliate"
of Xxxxx within the meaning of the 1933 Act and, in particular, Rule 145
promulgated under the 1933 Act ("Rule 145"),
(b) Xxxxx Securities Owned. Attachment 1 hereto sets forth all
shares of Xxxxx capital stock and any other securities of Xxxxx owned by
Shareholder, including all securities of Xxxxx as to which Shareholder has sole
or shared voting or investment power, and all rights, options and warrants to
acquire shares of capital stock or other securities of Xxxxx granted to or held
by Shareholder (such shares of Xxxxx capital stock, other securities of Xxxxx
and rights, options and warrants to acquire shares of Xxxxx capital stock and
other securities of Xxxxx are hereinafter collectively referred to as "Xxxxx
Securities"). As used herein, the term "Expiration Date" means the earliest to
occur of (i) the closing, consummation and effectiveness of the Merger, or (ii)
such time as the Merger Agreement may be terminated in accordance with its
terms.
(c) New Xxxxx Securities. As used herein, the term "New Xxxxx
Securities" means, collectively, any and all shares of Xxxxx capital stock,
other securities of Xxxxx and rights, options and warrants to acquire shares of
Xxxxx capital stock and other securities of Xxxxx that Shareholder may purchase
or otherwise acquire any interest in (whether of record or beneficially), on and
after the Effective Date of this Affiliate Agreement and prior to the Expiration
Date. All New Xxxxx Securities will be subject to the terms of this Affiliate
Agreement to the same extent and in the same manner as if they were Xxxxx
Securities.
(d) Merger Securities. As used herein, the term "Merger
Securities" means, collectively, all shares of Access Beyond Common Stock, and
Access Beyond Series A Stock that are or may be issued by Access Beyond in
connection with the Merger or the transactions contemplated by the Merger
Agreements, or to any former holder of Xxxxx options, warrants or rights to
acquire shares of Xxxxx Common Stock, and any securities that may be paid as a
dividend or otherwise distributed thereon or with respect thereto or issued or
delivered in exchange or substitution therefor or upon conversion thereof.
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(e) Transfer Restrictions on Merger Securities. Shareholder
has been advised that the issuance of the shares of Access Beyond Common Stock
and Access Beyond Series A Stock in connection with the Merger is expected to be
effectuated pursuant to a Registration Statement on Form S-4 under the 1933 Act,
and that the provisions of Rule 145 will limit Shareholder's resales of such
Merger Securities. Shareholder accordingly agrees not to sell, transfer,
exchange, pledge, or otherwise dispose of, or make any offer or agreement
relating to, any of the Merger Securities and/or any option, right or other
interest with respect to any Merger Securities that Shareholder may acquire,
unless: (i) such transaction is permitted pursuant to Rules 145(c) and 145(d)
under the 1933 Act; or (ii) legal counsel representing Shareholder, which
counsel is reasonably satisfactory to Access Beyond, shall have advised Access
Beyond in a written opinion letter reasonably satisfactory to Access Beyond and
Access Beyond's legal counsel, and upon which Access Beyond and its legal
counsel may rely, that no registration under the 1933 Act would be required in
connection with the proposed sale, offer, exchange, pledge or other disposition
of Merger Securities by Shareholder, or (iii) a registration statement under the
1933 Act covering the Merger Securities proposed to be sold, transferred,
exchanged, pledged or otherwise dispose of, describing the manner and terms of
the proposed sale, transfer, exchange, pledge or other disposition, and
containing a current prospectus, shall have been filed with the Securities and
Exchange Commission ("SEC") and been declared effective by the SEC under the
1933 Act, or (iv) an authorized representative of the SEC shall have rendered
written advice to Shareholder (sought by Shareholder or counsel to Shareholder,
with a copy thereof and all other related communications delivered to Access
Beyond and its legal counsel) to the effect that the SEC would take no action,
or that the staff of the SEC would not recommend that the SEC take action, with
respect to the proposed disposition of Merger Securities if consummated. Nothing
herein imposes upon Access Beyond any obligation to register any Merger
Securities under the 1933 Act.
(f) Intent. Shareholder does not now have, and as of the
Effective Time of the Merger will not have, any present plan or intention to
engage in a sale, exchange, transfer, distribution, pledge, disposition or any
other transaction which would result in a direct or indirect disposition (a
"Sale") of shares of Access Beyond voting common stock to be issued to Xxxxx
shareholders in the Merger, which shares would have an aggregate fair market
value, as of the Effective Time of the Merger, in excess of 50% of the aggregate
fair market value, immediately prior to the Merger, of all outstanding shares of
Xxxxx stock. For purposes of this representation, shares of Xxxxx stock (or the
portion thereof) (a) with respect to which a Xxxxx shareholder receives
consideration in the Merger other than Access Beyond voting common stock and/or
(b) with respect to which a Sale by a Xxxxx shareholder who owns 5% or more of
Xxxxx stock or is an officer or director of Xxxxx occurs during the pre-merger
period shall be considered shares of outstanding Xxxxx stock exchanged for
Access Beyond voting common stock in the Merger and then disposed of pursuant to
a prearranged plan.
3. LEGENDS. Shareholder also understands and agrees that stop transfer
instructions will be given to Access Beyond's transfer agent with respect to
certificates evidencing the Merger Securities to enforce Shareholder's
compliance with Shareholder's representations in Sections 2(e) and Shareholder's
compliance with applicable securities laws regarding the Merger Securities, and
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that there will be placed on the certificates evidencing such Merger Securities
a legend providing substantially as follows:
"THE SHARES REPRESENTED BY THIS CERTIFICATE MAY NOT BE
OFFERED, SOLD, PLEDGED, EXCHANGED, TRANSFERRED OR OTHERWISE
DISPOSED OF EXCEPT IN ACCORDANCE WITH THE REQUIREMENTS OF THE
SECURITIES ACT OF 1933, AS AMENDED, ANY APPLICABLE STATE
SECURITIES LAWS, AND THE OTHER CONDITIONS SPECIFIED IN THAT
CERTAIN XXXXX AFFILIATE AGREEMENT DATED AS OF JULY 29, 1997
AMONG ACCESS BEYOND, INC. ("ACCESS BEYOND"), XXXXX
MICROCOMPUTER PRODUCTS, INC. AND THE HOLDER OF SUCH SHARES, A
COPY OF WHICH MAY BE INSPECTED BY THE HOLDER OF THIS
CERTIFICATE AT THE OFFICES OF THE ISSUER. THE ISSUER WILL
FURNISH WITHOUT CHARGE A COPY THEREOF TO THE HOLDER OF THIS
CERTIFICATE UPON WRITTEN REQUEST THEREFOR."
4. NOTICES. All notices, approvals, consents, requests and
other communications that any party is required or elects to give hereunder
shall be in writing and shall be deemed to have been given (a) upon personal
delivery thereof, including by appropriate international courier service, five
(5) days after delivery to the courier or, if earlier, upon delivery against a
signed receipt therefor or (b) upon transmission by facsimile or telecopier,
which transmission is confirmed, in either case addressed to the party to be
notified at the address set forth below or at such other address as such party
shall have notified the other parties hereto, by notice given in conformity with
this Section 4:
(a) If to Access Beyond:
Access Beyond, Inc.
0000 Xxxxxx Xxxxxxxxx
Xxxxxxxxxxxx, Xxxxxxxx 00000
Attention: President/CEO
Facsimile: (000) 000-0000
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with a copy to:
Morrison, Cohen, Singer & Xxxxxxxxx
000 Xxxxxxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxxxxx X. Xxxxx, Esq.
Facsimile: (000) 000-0000
(b) If to Xxxxx:
(If via hand delivery or overnight courier)
Xxxxx Microcomputer Products, Inc.
0000 Xxxxxxxxx Xxxxxxx Xxxx
Xxxxxxxx, Xxxxxxx 00000-0000
Attention: Chairman of the Board and
Contracts Administration
(If via mail)
Xxxxx Microcomputer Products, Inc.
Xxxx Xxxxxx Xxx 000000
Xxxxxxx, Xxxxxxx 00000
Attention: Chairman of the Board and
Contracts Administration
Facsimile: (000) 000-0000
with a copy to:
Xxxxxx Xxxxxxx Xxxxxxxxx & Xxxx, PLLC
0000 Xxxxxxxxx Xxxxxx, X.X., Xxxxx 000
Xxxxxxx, Xxxxxxx 00000-0000
Attention: G. Xxxxxx Xxxxxxx, Esq.
Facsimile: (000) 000-0000
(c) If to Shareholder:
Rinzai Limited
x/x Xxxx Xxxxxxx
Xxxxxx Xxxx Xxxx
Xxxxxxxxx 0000
Attention: President
Facsimile: 000 00 000-0000
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with a copy to:
Jackson, Tufts, Xxxx & Black
00 Xxxxx Xxxxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, Xxxxxxxxxx 00000
Attention: Xxxxx Xxxxx, Esq.
Facsimile: (000) 000-0000
Any party hereto may change its address specified for notices herein by
designating a new address by notice in accordance with this Section 4.
5. SURVIVAL; TERMINATION. All representations, warranties and
agreements made by Shareholder in this Affiliate Agreement shall survive the
consummation of the Merger. This Affiliate Agreement shall be terminated and
shall be of no further force and effect upon the earlier to occur of (i) any
termination of the Merger Agreement pursuant to its terms, or (ii) any waiver of
either any closing condition in favor of Xxxxx or any obligation of Access
Beyond under or any amendment of the Merger Agreement, or the giving of any
required consent of Xxxxx under Section 4.3 or any other provision of the Merger
Agreement, unless such waiver, amendment or consent is approved either by the
Board of Directors of Xxxxx or any committee thereof consisting of at least two
(2) members of the Xxxxx Board authorized to approve any such amendment, waiver
or consent, one of whom approving such amendment, waiver or consent by action of
either the full Xxxxx Board or such committee is a representative of Rinzai
Limited.
6. EXPENSES. All costs and expenses incurred in connection
with the transactions contemplated by this Affiliate Agreement shall be paid by
the party incurring such costs and expenses; provided, however, that the
Shareholder's legal costs and expenses shall be promptly paid by Xxxxx.
7. COUNTERPARTS. This Affiliate Agreement may be executed in
counterparts, each of which will be an original as regards any party whose name
appears thereon and all of which together will constitute one and the same
agreement. This Affiliate Agreement will become binding when one or more
counterparts hereof, individually or taken together, bear the signatures of all
parties reflected hereon as signatories. Facsimile copies with signatories of
the parties to this Agreement, or their duly authorized representatives, shall
be legally binding and enforceable. All such facsimile copies are declared as
originals and, accordingly admissible in any jurisdiction or tribunal having
jurisdiction over any matter relating to this Agreement.
8. ASSIGNMENT, BINDING EFFECT. Except as provided herein,
neither this Affiliate Agreement nor any of the rights, interests or obligations
hereunder shall be assigned the parties hereto (whether by operation of law or
otherwise) without the prior written consent of the other parties hereto.
Subject to the preceding sentence, this Affiliate Agreement shall be binding
upon and shall inure to the benefit of the parties hereto and their respective
successors and permitted signs.
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9. AMENDMENT AND WAIVERS. Any term or provision of this
Affiliate Agreement may be amended, and the observance of any term of this
Affiliate Agreement may be waived (either generally or in a particular instance
and either retroactively or prospectively), only by a writing signed by the
parties to be bound thereby. The waiver by a party of any breach hereof or
default in the performance hereof will not be deemed to constitute a waiver of
any other default or any succeeding breach or default.
10. ENTIRE AGREEMENT. This Affiliate Agreement and any
documents delivered by the parties in connection herewith constitute the entire
agreement between the parties with respect to the subject matter hereof and
thereof and supersedes all prior agreements and under standings between the
parties with respect thereto.
11. OTHER AGREEMENTS. Nothing in this Affiliate Agreement
shall limit any of the rights or remedies of Access Beyond or Shareholder or any
of the obligations of either party under any Voting Agreement between Access
Beyond and Shareholder or any other agreement.
12. SEVERABILITY. Any term or provision of this Affiliate
Agreement which is invalid or unenforceable in any jurisdiction shall, as to
that jurisdiction, be ineffective to the extent of such invalidity or
unenforceability without rendering invalid or unenforceable the remaining terms
and provisions of this Affiliate Agreement or affecting the validity or
enforceability of any of the terms and provisions of this Affiliate Agreement or
affecting the validity or enforceability of any of the terms or provisions of
this Affiliate Agreement in any other jurisdiction. If any provision of this
Affiliate Agreement is so broad as to be unenforceable, the provision shall be
interpreted to be only so broad as is enforceable.
13. GOVERNING LAW. The internal laws of the State of Georgia
(irrespective of its choice of law principles) will govern the validity of this
Affiliate Agreement, the construction of its terms, and the interpretation and
enforcement of the rights and duties of the parties hereto.
14. CONSTRUCTION. The language hereof will not be construed
for or against either party. A reference to a section will mean a section of
this Affiliate Agreement, unless otherwise explicitly set forth. The titles and
headings in this Affiliate Agreement are for reference purposes only and will
not in any manner limit the construction of this Affiliate Agreement. For the
purposes of such construction, this Affiliate Agreement will be considered as a
whole.
15. XXXXX SHAREHOLDER AGREEMENT. Shareholder acknowledges that
the execution hereof by Shareholder and the execution by any other shareholders
of Xxxxx of similar agreements in connection with the Merger, is not a violation
of, and, in particular, does not constitute a "Transfer" or "Disposition" under
the Shareholder Agreement among the shareholders of Xxxxx dated April 16, 1996.
Shareholder further acknowledges and agrees that this Affiliate Agreement does
not constitute any liquidation or redemption event applicable to the Merger
Securities under the Articles of Incorporation, Bylaws or other organizational
documents of Xxxxx, or contracts to which such Shareholder is a party.
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[EXECUTION ON THE FOLLOWING PAGE]
IN WITNESS WHEREOF, the parties hereto have caused this
Affiliate Agreement to be executed as of the date first written above.
ACCESS BEYOND, INC. XXXXX MICROCOMPUTER PRODUCTS, INC.
By:______________________________ By:_______________________________________
Name: Name:
Title: Title:
SHAREHOLDER:
RINZAI LIMITED
BY:________________________________
Name:________________________
Its: ________________________
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ATTACHMENT 1
Affiliate's Address for Notice: Xxxxxx X. Xxxxx
000 Xxxxxxxxx Xxxx
Xxxxxx, Xxxxxxx
with a copy to counsel Xxxxxx X. Xxxxx, Esq.
for Shareholder Xxxxx, Xxxxxxxx & Quigkley, P.C.
Fourteenth Floor Lenox Towers II
0000 Xxxxxxxxx Xxxx, X.X.
Xxxxxxx, Xxxxxxx 00000
Number of Shares of Xxxxx
Common Stock owned as of the
date of this Affiliate Agreement: 543,221
Number of Shares of Xxxxx
Series A Preferred Stock owned
as of the date of this Affiliate Agreement: N/A
Number of Shares of Xxxxx
Series B Preferred Stock owned
as of the date of this Affiliate Agreement: N/A
Number of Xxxxx Options for
Common Stock owned as of
the date of this Affiliate Agreement: N/A
Number of Xxxxx Warrants for
Common Stock owned as of
the date of this Affiliate Agreement: N/A
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