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EXHIBIT 10.52
XXX.XXX, INC.
AMENDMENT TO REGISTRATION RIGHTS AGREEMENT
THIS AMENDMENT (the "Amendment") is made as of the 16th day of
September, 1999, by and among XXX.xxx, Inc., a Delaware corporation (the
"Company"), the Patricof Investors set forth on Exhibit A attached hereto and
made a part hereof (the "Patricof Investors"), the holders of Series B 7%
Cumulative Convertible Preferred Stock set forth on Exhibit B attached hereto
and made a part hereof (the "Series B Holders"), the holders of Series C 7%
Cumulative Convertible Preferred Stock of the Company set forth on Exhibit C
attached hereto and made a part hereof (the "Series C Holders"), the holders of
shares of Series D 7% Cumulative Convertible Preferred Stock (the "Series D
Preferred Stock") of the Company set forth on Exhibit D attached hereto and made
a part hereof (the "Series D Holders"), Alex. Xxxxx & Sons Incorporated as the
holder of warrants to purchase shares of the Company's Common Stock ("Alex.
Xxxxx"), and Xxxxx Xxxxx Xxxxxx & Company, LLC ("Xxxxx" and together with the
Patricof Investors, the Series B Holders, the Series C Holders, the Series D
Holders and Alex. Xxxxx, the "Investors").
WHEREAS, the Patricof Investors, the Series B Holders, the Series C
Holders, Alex. Xxxxx, and the Company are parties to a Registration Rights
Agreement dated November 13, 1996, as amended on August 22, 1997 (the
"Registration Rights Agreement");
WHEREAS, in connection with the Company's (i) offering of the Series D
Preferred Stock, and (ii) issuance to Xxxxx of a warrant (the "Xxxxx Warrant")
to purchase shares of Common Stock, the Company has agreed to grant the Series D
Holders and Xxxxx registration rights with respect to shares of the Common Stock
of the Company issuable upon conversion of the Series D Preferred Stock and
issuable upon exercise of the Xxxxx Warrant;
WHEREAS, in connection with the sale of the Series D Preferred Stock,
all parties to the Registration Rights Agreement desire to amend the
Registration Rights Agreement to include the Series D Holders as a Holder (as
defined in the Registration Rights Agreement), to include the Common Stock
issuable upon the conversion of the Series D Preferred Stock and upon exercise
of the Xxxxx Warrant as Registrable Securities thereunder and to amend certain
portions of the Registration Rights Agreement to reflect the agreement
concerning registration rights between the Series D Holders, Xxxxx and the
Company;
NOW, THEREFORE, in consideration of the mutual covenants and agreements
set forth herein and for other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties agree to amend the
Registration Rights Agreement as follows:
1. Definitions.
1.1. The following term set forth in Section I of the Registration
Rights Agreement shall be deleted in its entirety and shall hereafter have the
following meaning:
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"Registrable Securities" means (a) the shares of Common Stock into
which the Series B 7% Cumulative Convertible Preferred Stock ("Series B
Preferred Stock) is convertible, (b) the shares of Common Stock into which the
Series C 7% Cumulative Convertible Preferred Stock (the "Series C Preferred
Stock") is convertible, (c) the shares of Common Stock into which the Series D
7% Cumulative Convertible Preferred (the "Series D Preferred Stock") is
convertible, (d) the Common Stock issuable upon the exercise of the the warrants
held by Alex. Xxxxx, each dated August 22, 1997, and the warrant held by Xxxxx,
dated as of the date hereof, (e) any additional shares of Common Stock acquired
by the Holders by way of a stock dividend, stock split or other distribution in
respect of the Series B Preferred Stock, Series C Preferred Stock, Series D
Preferred Stock, any Common Stock described in clause (a), (b) or (c) above, and
the Common Stock issuable upon exercise of the warrants held by Alex. Xxxxx,
each dated August 22, 1997, and the warrant held by Xxxxx, dated as of the date
hereof, and (f) any shares of Common Stock currently held or hereafter acquired
by any Patricof Investor. As to any particular Registrable Securities, such
securities shall cease to be Registrable Securities at such time as (i) a
registration statement with respect to the sale of such securities shall have
been declared effective by the Commission and such securities have been disposed
of pursuant to such effective registration statement, (ii) such securities have
been distributed to the public pursuant to the provisions of Rule 144, (iii)
such securities have ceased to be outstanding, or (iv) in the case of any
Registrable Securities issued upon the conversion of the Series D Preferred
Stock initially issued to or held by ABRY Broadcast Partners III, L.P. ("ABRY"),
or any Registrable Securities described in clause (e) above relating thereto,
such securities shall have been distributed to any limited partner of ABRY that
is not an Affiliate of the general partner of ABRY (or, to the extent specified
by ABRY by notice to the Company, to the general partner of ABRY or a limited
partner of ABRY that is an Affiliate of the general partner of ABRY).
2. Amendment and Modification. Section 6.1 shall be deleted in its
entirety and replaced with the following:
This Agreement may be amended, modified and supplemented, and
compliance with any term, covenant, agreement, or condition contained herein may
be waived either generally or in particular instances, and either retroactively
or prospectively, only by a written instrument executed by the Company and
Investors who hold a majority of the Series B Preferred Stock, the Series C
Preferred Stock and the Series D Preferred Stock (or the Common Stock into which
each such series of preferred stock may have been converted), as well as the
Patricof Investors; provided, however, that any provision of this Agreement that
would materially adversely affect any particular holder of Registrable
Securities without similarly affecting all holders of Registrable Securities
shall not be valid unless consented to in writing by such holder of Registrable
Securities. No course of dealing between or among any Persons having any
interest in this Agreement will be deemed effective to modify, amend or
discharge any part of this Agreement or any rights or obligations of any Person
under or by reason of this Agreement.
3. Notices.
(a) Subsection 2 of Section 6.5 shall be amended to add
subsection (iii) and (iv) as follows:
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(iii) if to the Series D Holders:
To the addresses set forth below such Series
D Holders' names on Exhibit A to the Series
D 7% Cumulative Convertible Preferred Stock
Purchase Agreement, dated as of August 27,
1999
(iv) if to Xxxxx:
Xxx Xxxxxxxx Xxxxx
Xxx Xxxxxxxxx, Xxxxxxxxxx 0000
Attention: Xxxxxxx X. Xxxxxx
Telephone: (000) 000-0000
Telecopy: (000) 000-0000
4. Binding Agreement. The Registration Rights Agreement as modified
herein, shall remain in full force and effect as so modified.
5. Counterparts. This Amendment may be executed simultaneously 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. The authentic signature
of any party received by facsimile transmission shall constitute a valid and
binding signature of such party.
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IN WITNESS WHEREOF, the parties have executed this Amendment as of the
16th day of September, 1999.
XXX.XXX, INC.
By: /s/ Xxxxxx X. May
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Xxxxxx X. May, Chief Executive Officer
BT ALEX. XXXXX & SONS INCORPORATED
By: /s/
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Name:
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Title:
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XXXXX XXXXX XXXXXX & COMPANY, LLC
By: /s/
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Name:
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Title:
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EXHIBIT A
APA EXCELSIOR IV, L.P.
By: APA EXCELSIOR IV PARTNERS, L.P.
(Its General Partner)
By: PATRICOF & CO. MANAGERS, INC.
(Its General Partner)
By: /s/
----------------------------------
Name:
Title:
XXXXXX & CO. (CAYMAN) LTD., CUSTODIAN FOR
APA EXCELSIOR IV/OFFSHORE, L.P.
By: PATRICOF & CO. VENTURES, INC., INVESTMENT ADVISOR
By: /s/
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Name:
Title:
THE P/A FUND, L.P.
By: APA PENNSYLVANIA PARTNERS, L.P.
(Its General Partner)
By: /s/
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Name:
Title:
/s/
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Xxxxxxx Xxxxxxx
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EXHIBIT B
STATE OF MICHIGAN RETIREMENT SYSTEM
By: /s/
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Name:
Title:
BENEFIT CAPITAL MANAGEMENT CORPORATION,
as Investment Manager for The Prudential Insurance Co.
of America, Separate Account No. VCA-GA-5298
By: /s/
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Name:
Title:
CSK VENTURE CAPITAL CO., LTD., as
Investment Manager for CSK-1(A) Investment Fund
By: /s/
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Name:
Title:
CREDIT SUISSE (GUERNSEY) LIMITED, as
Trustee of Dynamic Growth Fund II
By: /s/
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Name:
Title:
By: /s/
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Name:
Title:
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EXHIBIT B
(continued)
APA EXCELSIOR IV, L.P.
By: APA EXCELSIOR IV PARTNERS, L.P.
(Its General Partner)
By: PATRICOF & CO. MANAGERS, INC.
(Its General Partner)
By: /s/
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Name:
Title:
XXXXXX & CO. (CAYMAN) LTD., CUSTODIAN FOR
APA EXCELSIOR IV/OFFSHORE, L.P.
By: PATRICOF & CO. VENTURES, INC.,
INVESTMENT ADVISOR
By: /s/
----------------------------------
Name:
Title:
THE P/A FUND, L.P.
By: APA PENNSYLVANIA PARTNERS, L.P.
(Its General Partner)
By: /s/
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Name:
Title:
/s/
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Xxxxxxx Xxxxxxx
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EXHIBIT C
VENHILL LIMITED PARTNERSHIP
By: /s/
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Name:
----------------------------------------
Title:
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JULIET CHALLENGER, INC.
By: /s/
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Name:
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Title:
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XXXXX X. XXXXXXX, XXXXX XXXXXXXX
XXXXXXX AND X. X. XXXXXXXXXXXX,
TRUSTEES OF THE XXXXX X. XXXXXXX
TRUST U/A DATED 11/18/85
By: /s/
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Name:
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Title:
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X.X. XXXXXXXXXXXX AND XXXXXX X.
XXXXXX, TRUSTEES U/A/T DATED 8/28/68
FOR JULIET XXX XXXXXXX
By: /s/
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Name:
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Title:
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X.X. XXXXXXXXXXXX AND XXXXXX X.
XXXXXX, TRUSTEES U/A/T DATED 8/28/68
FOR XXXXXX XXXXXXXX XXXXXXX
By: /s/
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Name:
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Title:
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EXHIBIT C
(continued)
X.X. XXXXXXXXXXXX AND XXXXXX X.
XXXXXX, TRUSTEES U/A/T DATED 8/28/68
FOR XXXXX XXX XXXXXXX, XX.
By: /s/
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Name:
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Title:
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X.X. XXXXXXXXXXXX AND XXXXXX X.
XXXXXX, TRUSTEES U/A/T DATED 8/28/68
FOR XXXXXXX XXXXXXX XXXXXXX
By: /s/
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Name:
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Title:
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WINFIELD CAPITAL CORP.
By: /s/
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Name:
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Title:
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ABS EMPLOYEES' VENTURE FUND LIMITED
PARTNERSHIP
By: /s/
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Name:
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Title:
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/s/
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Xxxxxxxx Xxxxxxx
ARUNDEL HOLDINGS, LLC
By: /s/
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Name:
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Title:
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/s/
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E. Xxxx Xxxxxx
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EXHIBIT C
(continued)
XXXXX XXXX FAMILY FOUNDATION
By: /s/
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Name:
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Title:
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/s/
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Xxxxxxx X. XxxXxxxx and Xxxxxx XxxXxxxx JT WROS
/s/
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Xxxx X. Xxxxxxxxx
/s/
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Xxxxxxx X. Xxxx
THE XXXXXXX COMPANY
By: /s/
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Name:
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Title:
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/s/
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Xxxxx X. Xxxxx
XXXXXXX XXXXXX AS TRUSTEE OF THE
XXXXXXX XXXXXX LIVING TRUST DATED
01/09/96
By: /s/
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Xxxxxxx Xxxxxx, Trustee
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EXHIBIT C
(continued)
/s/
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Xxxx Xxxxxx and Xxxx Xxxxxxx Xxxxxx XX WROS
/s/
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Xxxxxx Xxxxx and/or Xxxxxx Xxxxx,
as Tenants-by-Entirety
/s/
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Xxxxxx Xxxxxx & Xxxxx X. Xxxxxx,
as Tenants-by-Entirety
/s/
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Xxxxx X. XxXxxxxx
/s/
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Xxxx Xxxxxxx
SPIEGEL ENTERPRISES
By: /s/
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Name:
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Title:
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TAMPSCO PARTNERSHIP XII
By: /s/
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Name:
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Title:
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FOUNDATION PARTNERS FUND, G.P.
By: /s/
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Name:
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Title:
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EXHIBIT C
(continued)
TENNYSON PRIVATE PLACEMENT
OPPORTUNITY FUND, LLC
By: /s/
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Name:
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Title:
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/s/
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J. Xxxxx Xxxxxxxxx TTEE UTD 12/22/97
FBO Xxxxx Xxxxxxxxx I
TRI VENTURES
By: /s/
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Name:
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Title:
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BENEFIT CAPITAL MANAGEMENT
CORPORATION, AS INVESTMENT MANAGER
FOR THE PRUDENTIAL INSURANCE CO. OF
AMERICA SEPARATE ACCOUNT NO.
VCA-GA-5298
By: /s/
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Name:
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Title:
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STATE TREASURER OF THE STATE OF MICHIGAN, CUSTODIAN OF THE MICHIGAN PUBLIC
SCHOOL EMPLOYEES' RETIREMENT SYSTEM, STATE EMPLOYEES' RETIREMENT SYSTEM,
MICHIGAN STATE POLICE RETIREMENT SYSTEM AND MICHIGAN JUDGES RETIREMENT SYSTEM
By: /s/
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Name:
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Title:
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EXHIBIT C
(continued)
APA EXCELSIOR IV, L.P.
By: APA EXCELSIOR IV PARTNERS, L.P.
(Its General Partner)
By: PATRICOF & CO. MANAGERS,
INC. (Its General Partner)
By: /s/
-------------------------------
Name:
-------------------------------
Title:
-------------------------------
XXXXXX & CO. (CAYMAN) LTD., CUSTODIAN
FOR APA EXCELSIOR IV/OFFSHORE, L.P.
By: PATRICOF & CO. VENTURES, INC.
INVESTMENT ADVISOR
By: /s/
-------------------------------
Name:
-------------------------------
Title:
-------------------------------
THE P/A FUND, L.P.
By: APA PENNSYLVANIA PARTNERS, L.P.
(Its General Partner)
By: /s/
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Name:
-------------------------------
Title:
-------------------------------
/s/
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Xxxxxx Xxx
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EXHIBIT D
HOLDERS OF SERIES D PREFERRED STOCK
ABRY BROADCAST PARTNERS III, L.P.
By: /s/
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Name:
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Title:
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XXXXXXX XXXXX FUND IV, L.P.
By: /s/
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Name:
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Title:
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CUMMINS ENGINE COMPANY, INC.
By: /s/
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Name:
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Title:
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