AMENDMENT TO SUBSCRIPTION AGREEMENT CAMPUSU, INC. (formerly known as CampusTech, Inc.) Offering of Units Consisting of Series A Convertible Preferred Stock and Warrants for Common Stock
AMENDMENT
TO
CAMPUSU,
INC.
(formerly
known as CampusTech, Inc.)
Offering
of Units Consisting of Series A Convertible Preferred Stock
and
Warrants for Common Stock
Reference
is made to the Subscription Agreement (the “Original
Agreement”)
by and
between CampusU, Inc., formerly known as CampusTech, Inc. (the “Company”),
and
the undersigned (the “Purchaser”).
Unless otherwise defined herein, all capitalized terms will have the meaning
set
forth in the Original Agreement.
WHEREAS,
the Original Agreement provided that the Company shall include all Registrable
Shares in the Registration Statement filed with the Securities and Exchange
Commission (the “Commission”)
in
connection with a Qualifying IPO; and
WHEREAS,
the Original Agreement provided that the Purchasers shall have certain piggyback
registration rights in connection with the Registrable Shares; and
WHEREAS,
the parties have agreed to modify the above registration rights provided
for in
the Original Agreement in order to facilitate the consummation of the Company’s
proposed initial public offering of its common stock;
NOW,
THEREFORE, for good and valuable consideration, the receipt and sufficiency
of
which is hereby acknowledged, and intending to be bound hereby, the parties
hereby agree as follows:
1. Registration
Rights.
(a) Notwithstanding
anything to the contrary in the Original Agreement (including, without
limitation, Sections 5.1 and 5.2 of such agreement), the Purchaser shall
not be
entitled to any registration rights in connection with its purchase of
securities under the Original Agreement other than as set forth in 1(b)
below.
(b) On
or
prior to 95 days following the closing of a Qualifying IPO, the Company shall
prepare and file with the Commission a Registration Statement covering the
resale of all Registrable Shares not already covered by an existing and
effective Registration Statement for an offering to be made on a continuous
basis pursuant to Rule 415. The Company shall use its reasonable best efforts
to
cause the Registration Statement to be declared effective under the Securities
Act as soon as practicable, and shall use its reasonable best efforts to
keep
the Registration Statement effective under the Securities Act during the
Effectiveness Period.
2. Governing
Law.
All
questions concerning the construction, validity and interpretation of this
Amendment shall be governed by and construed in accordance with the internal
law
(and not the law of conflicts) of New York applicable to contracts made and
performed in such state, without regard to the principles of conflicts of
laws
(other than the principles set forth in Section 5-1401 of the General
Obligations Law of the State of New York).
Dated
as
of August ___, 2007
CampusU, Inc. | ||
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Date: | By: | /s/ |
Name: Xxxxxxx
Xxxxx
Title: Executive
Chairman & Chairman of the
Board
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Accepted
and agreed by the Purchaser
as
of the
date first above written:
By: _______________________________
Name:
Title: