EXHIBIT 10.31
WAIVER AGREEMENT
This Waiver Agreement dated August 28, 2006 is between Xxxxxx OTC and
Emerging Growth Fund ("Xxxxxx OTC"); TH Xxx, Xxxxxx Emerging Opportunities
Portfolio ("TH Xxx"); Xxxxxx Technology Fund ("Technology"); Xxxxxx World Trust
II - Xxxxxx Emerging Information Sciences Fund ("World Trust"); Xxxxxx Discovery
Growth Fund ("Discovery"); EMC Investment Corporation ("EMC"); Xxx Xxxxxxx
Crossover Fund, L.P. ("Crossover"); Xxx Xxxxxxx Capital Partners, L.P. ("Capital
Partners"); Xxxxxxxx Partners III, L.P. ("Xxxxxxxx Partners"); Xxxxxxxx
Associates III, L.P. ("Xxxxxxxx Associates"); Xxxxxxxx Foreign Partners III,
L.P. ("Xxxxxxxx Foreign"); Sprout IX Plan Investors, L.P. ("Sprout IX"); Sprout
Entrepreneurs Fund, L.P. ("Sprout Entrepreneurs"); Sprout Capital IX, L.P.
("Sprout Capital"); DLJ Capital Corporation ("DLJ"); Camelot Capital L.P.
("Camelot"); Camelot Capital II L.P. ("Camelot II"); Camelot Offshore Fund
Limited ("Camelot Offshore") and CommVault Systems, Inc. ("CommVault").
RECITALS
WHEREAS Xxxxxx OTC, TH Xxx, Technology, Crossover, EMC, Xxxxxxxx Partners,
Xxxxxxxx Associates, Xxxxxxxx Foreign (collectively, the "2002 Investors") and
CommVault are parties to a Series CC Purchase Agreement dated as of February 14,
2002 (the "2002 Agreement");
WHEREAS TH Xxx, Xxxxxx OTC, World Trust, Discovery, Sprout IX, Sprout
Entrepreneurs, Sprout Capital, DLJ, Xxxxxxxx Partners, Xxxxxxxx Associates,
Xxxxxxxx Foreign, Capital Partners, Camelot, Camelot II, Camelot Offshore
(collectively, the "2003 Investors") and CommVault are parties to a Series CC
Purchase Agreement dated as of September 2, 2003 (the "2003 Agreement");
WHEREAS Section 5(g) of the 2002 Agreement and Section 5(e) of the 2003
Agreement provide for the holders of the Series CC preferred stock, including
the 2002 Investors and the 2003 Investors, respectively, to have preemptive
rights if CommVault proposes to issue additional capital stock (the "Preemptive
Rights");
WHEREAS on March 2, 2006, CommVault provided notice to the holders of the
Series CC preferred stock, including the 2002 Investors and the 2003 Investors
of CommVault's desire to issue capital stock in an initial public offering (the
"IPO") pursuant to Section 5(g) of the 2002 Agreement and Section 5(e) of the
2003 Agreement, and such notice expires as of August 29, 2006; and
WHEREAS CommVault filed a Registration Statement on Form S-1 (File No:
333-132550) (the "Registration Statement") for the IPO, and desires to enter
into this waiver agreement to facilitate the completion of the IPO;
NOW THEREFORE, the 2002 Investors and the 2003 Investors, as appropriate,
and CommVault agree as follows:
1. Notwithstanding Section 5(g) of the 2002 Agreement and Section 5(e) of
the 2003 Agreement, CommVault shall not be required to comply with such sections
in connection with the sale of capital stock in the IPO pursuant to the
Registration Statement.
2. Except as otherwise specifically amended or modified by this Agreement,
all terms of the 2002 Agreement and the 2003 Agreement shall remain in full
force and effect.
3. A copy of the Agreement and Declaration of Trust of each Xxxxxx fund or
series investment company (each a "Fund") that is a Massachusetts business trust
is on file with the Secretary of State of the Commonwealth of Massachusetts and
notice is hereby given that this Agreement is executed on behalf of the Trustees
of the relevant Fund as Trustees and not individually and that the obligations
of this Agreement are not binding upon any of the Trustees, officers or
shareholders of the Fund individually but are binding only upon the assets and
property of such Fund..
* * * * *
IN WITNESS WHEREOF, this Agreement has been signed by or on behalf of each
of the parties hereto as of the day first above written.
COMMVAULT SYSTEMS, INC.
By: /s/ N. Xxxxxx Xxxxxx
----------------------------------------
Name: N. Xxxxxx Xxxxxx
--------------------------------------
Title: Chairman, President and CEO
-------------------------------------
XXXXXX OTC AND EMERGING GROWTH FUND
By: Xxxxxx Investment Management, LLC
By: /s/Xxxx X. Xxxx, Xx.
----------------------------------------
Name: Xxxx X. Xxxx, Xx.
--------------------------------------
Title: Managing Director
-------------------------------------
Shares under the 2002 Agreement: 1,277,547
Shares under the 2003 Agreement: 239,540
TH XXX, XXXXXX INVESTMENT TRUST -
TH XXX, XXXXXX EMERGING OPPORTUNITIES
PORTFOLIO
By: TH Xxx, Xxxxxx Capital Management, LLC
By: /s/ Xxxx X. Xxxx, Xx.
----------------------------------------
Name: Xxxx X. Xxxx, Xx.
--------------------------------------
Title: Managing Director
-------------------------------------
Shares under the 2002 Agreement: 1,916,321
Shares under the 2003 Agreement: 319,387
XXXXXX DISCOVERY GROWTH FUND
(Formerly Xxxxxx Voyager Fund II successor
in interest by way of merger to Xxxxxx Funds
Trust - Xxxxxx Technology Fund)
By: /s/ Xxxx X. Xxxx, Xx.
----------------------------------------
Name: Xxxx X. Xxxx, Xx.
--------------------------------------
Title: Managing Director
-------------------------------------
Shares under the 2002 Agreement: 319,387
XXXXXX WORLD TRUST II - XXXXXX EMERGING
INFORMATION SCIENCES FUND
By: The Xxxxxx Advisory Company, LLC
By: /s/ Xxxx X. Xxxx, Xx.
----------------------------------------
Name: Xxxx X. Xxxx, Xx.
--------------------------------------
Title: Managing Director
-------------------------------------
Shares under the 2003 Agreement: 159,693
XXXXXX DISCOVERY GROWTH FUND
By: Xxxxxx Investment Management, LLC
By: /s/ Xxxx X. Xxxx, Xx.
----------------------------------------
Name: Xxxx X. Xxxx, Xx.
--------------------------------------
Title: Managing Director
-------------------------------------
Shares under the 2003 Agreement: 79,847
EMC INVESTMENT CORPORATION
By:/s/ Xxxx X. Xxxxxx
-----------------------------------------
Name: Xxxx X. Xxxxxx
--------------------------------------
Title: President
-------------------------------------
Shares under the 2002 Agreement: 638,774
XXX XXXXXXX CROSSOVER FUND, L.P.
By: /s/ Xxxxxxx Xxx Xxxxxxx
----------------------------------------
Name: Xxxxxxx Xxx Xxxxxxx
--------------------------------------
Title: General Partner
-------------------------------------
Shares under the 2002 Agreement: 638,774
XXX XXXXXXX CAPITAL PARTNERS, L.P.
By: /s/ Xxxxxxx Xxx Xxxxxxx
----------------------------------------
Name: Xxxxxxx Xxx Xxxxxxx
--------------------------------------
Title: General Partner
-------------------------------------
Shares under the 2003 Agreement: 15,969
XXXXXXXX PARTNERS III, L.P.
By: Xxxxxxxx Partners III LLC, its General
Partner
By: /s/ Xxxxx Xxxxxxxxxx
----------------------------------------
Name: Xxxxx Xxxxxxxxxx
--------------------------------------
Title: CEO
-------------------------------------
Shares under the 2002 Agreement: 446,162
Shares under the 2003 Agreement: 335,296
XXXXXXXX ASSOCIATES III, L.P.
By: Xxxxxxxx Partners III LLC, its General
Partner
By: /s/ Xxxxx Xxxxxxxxxx
----------------------------------------
Name: Xxxxx Xxxxxxxxxx
--------------------------------------
Title: CEO
-------------------------------------
Shares under the 2002 Agreement: 95,860
Shares under the 2003 Agreement: 69,958
XXXXXXXX FOREIGN PARTNERS III, L.P.
By: Xxxxxxxx Partners III LLC, its General
Partner
By: /s/ Xxxxx Xxxxxxxxxx
----------------------------------------
Name: Xxxxx Xxxxxxxxxx
--------------------------------------
Title: CEO
-------------------------------------
Shares under the 2002 Agreement: 96,752
Shares under the 2003 Agreement: 73,826
DLJ CAPITAL CORPORATION
By: /s/ Xxx X. Xxxxx
----------------------------------------
Name: Xxx X. Xxxxx
--------------------------------------
Title: Vice President
-------------------------------------
Shares under the 2003 Agreement: 3,899
SPROUT IX PLAN INVESTORS, L.P.
By: DLJ LBO Plans Management Corporation II
Its: General Partner
By: /s/ Xxx X. Xxxxx
----------------------------------------
Name: Xxx X. Xxxxx
--------------------------------------
Its: Attorney-in-Fact
---------------------------------------
Shares under the 2003 Agreement: 82,149
SPROUT ENTREPRENEURS FUND, L.P.
By: DLJ Capital Corporation
Its: Managing General Partner
By: /s/ Xxx X. Xxxxx
----------------------------------------
Name: Xxx X. Xxxxx
--------------------------------------
Title: Vice President
-------------------------------------
Shares under the 2003 Agreement: 7,011
SPROUT CAPITAL IX, L.P.
By: DLJ Capital Corporation
Its: Managing General Partner
By: /s/ Xxx X. Xxxxx
----------------------------------------
Name: Xxx X. Xxxxx
--------------------------------------
Title: Vice President
-------------------------------------
Shares under the 2003 Agreement: 1,778,878
CAMELOT CAPITAL L.P.
By: /s/ Xxxxx Xxxxx
----------------------------------------
Name: Xxxxx Xxxxx
--------------------------------------
Title: Managing Partner
-------------------------------------
Shares under the 2003 Agreement: 220,383
CAMELOT CAPITAL II L.P.
By: /s/ Xxxxx Xxxxx
----------------------------------------
Name: /s/ Xxxxx Xxxxx
--------------------------------------
Title: Managing Partner
-------------------------------------
Shares under the 2003 Agreement: 15,763
CAMELOT OFFSHORE FUND LIMITED
By: /s/ Xxxxx Xxxxx
----------------------------------------
Name: Xxxxx Xxxxx
--------------------------------------
Title: Managing Director
-------------------------------------
Shares under the 2003 Agreement: 83,241
