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EXHIBIT 10.40
ADDENDUM TO SERIES F SUBSCRIPTION AGREEMENT
This Addendum (the "Addendum") to Series F Subscription Agreement dated
as of July 28, 1999 is entered into by and among The Edison Project Inc., a
Delaware corporation (the "Company"), and the Purchasers whose names are signed
below the "Purchasers").
WHEREAS, the Company has entered into a Series F Subscription Agreement
dated as of July 2, 1999 (the "Agreement");
WHEREAS, the Agreement provides for one or Subsequent Closings upon the
terms and conditions set forth in the Agreement.
NOW, THEREFORE, for good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged, the parties hereto agree as
follows:
1. The parties hereto agree to effect a Subsequent Closing, as defined
in the Agreement (the "Current Closing"). Execution and delivery of this
Addendum by a Purchaser shall constitute such Purchaser's execution and delivery
of the Agreement as provided in Section 2(b) thereof. Each Purchaser is
delivering to the Company, by wire transfer or other method acceptable to the
Company, payment in the amount set forth on Exhibit A attached hereto and the
Company is delivering to each of such Purchasers a certificate for the number of
Shares shown opposite such Purchaser's name on Exhibit A hereto.
2. The Company confirms that, except as provided on Exhibit B attached
hereto, all representations and warranties made by the Company in the Agreement
(subject to the exceptions set forth in Exhibit C thereto) remain true and
accurate as of the date hereof and that all conditions and covenants required to
be satisfied by the Company prior to the Current Closing have been performed.
3. Each Purchaser confirms that all representations and warranties made
by the Purchaser in the Agreement are true and accurate as of the date hereof
and that all conditions and covenants required to be satisfied by the Purchaser
prior to the Current Closing have been performed.
4. Capitalized terms used but not defined herein shall have the
respective meanings given to such terms in the Agreement.
5. This Addendum shall be binding upon the parties hereto and their
respective heirs, successors and assigns.
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IN WITNESS WHEREOF, the parties hereto have signed this Addendum as of
the date first above written.
THE EDISON PROJECT, INC.
By: /s/ H. Xxxxxxxxxxx Xxxxxxx
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H. Xxxxxxxxxxx Xxxxxxx, President
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PURCHASERS:
Aurora Investments LLC
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Name of Purchaser
/s/ X. Xxxxxxxxxx
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Signature
Member
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If Purchaser is an entity, please
indicate capacity in which signing
PURCHASERS:
WEG V L.P.
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Name of Purchaser
/s/ H. Xxxxxxxxxxx Xxxxxxx
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Signature
President, WSI Inc.
General Partner of: WEG V L.P.
----------------------------------------
If Purchaser is an entity, please
indicate capacity in which signing
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PURCHASERS:
WEG VII L.P.
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Name of Purchaser
/s/ H. Xxxxxxxxxxx Xxxxxxx
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Signature
President, WSI Inc.
General Partner of: WEG VII L.P.
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If Purchaser is an entity, please
indicate capacity in which signing
PURCHASERS:
Leeds III L.P.
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Name of Purchaser
/s/ Xxxxxx X. Xxxxxxxxx
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Signature
as Manager of Leeds Associates L.L.C.
the general partner of Leeds III L.P.
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If Purchaser is an entity, please
indicate capacity in which signing
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PURCHASERS:
X. X. Xxxxxx Investment Corporation
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Name of Purchaser
/s/ Xxxx Xxxxxxxxx
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Signature
Managing Director
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If Purchaser is an entity, please
indicate capacity in which signing
PURCHASERS:
Sixty Wall Street Fund, L.P.
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Name of Purchaser
/s/ Xxxx Xxxxxxxxx
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Signature
Managing Director
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If Purchaser is an entity, please
indicate capacity in which signing
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PURCHASERS:
Investor Investments AB
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Name of Purchaser
/s/ Xxxx Xxxxxxxxx
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Signature
Vice President
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If Purchaser is an entity, please
indicate capacity in which signing
PURCHASERS:
Xxxx X. Xxxxxx
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Name of Purchaser
/s/ Xxxx X. Xxxxxx
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Signature
----------------------------------------
If Purchaser is an entity, please
indicate capacity in which signing
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PURCHASERS:
Progressive Investment Company, Inc.
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Name of Purchaser
/s/ Xxxxxxx Xxxxxxxxx
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Signature
Portfolio Manager
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If Purchaser is an entity, please
indicate capacity in which signing
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EXHIBIT A
Purchasers at Subsequent Closing
Name and Address Shares Purchase Price
---------------- ------ --------------
Aurora Investments 508,540 $3,127,521.00
0 Xxxx 00xx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
WEG V L.P. 149,304 918,219.60
First Tennessee Plaza
000 Xxxxx Xxx Xxxxxx
Xxxxx 0000
Xxxxxxxxx, XX 00000
WEG VII L.P. 75,714 465,641.10
First Tennessee Plaza
000 Xxxxx Xxx Xxxxxx
Xxxxx 0000
Xxxxxxxxx, XX 00000
Leeds III L.P. 310,457 1,909,310.55
Leeds Group, Inc.
000 Xxxxxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000
X.X. Xxxxxx Investment Corporation 244,419 1,503,176.85
00 Xxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000-0000
Sixty Wall Street SBIC Fund, L.P. 114,413 703,639.95
00 Xxxx Xxxxxx
00xx Xxxxx
Xxx Xxxx, XX 00000-0000
Investor Investments AB 358,832 2,206,816.80
000 Xxxx Xxxxxx, 00xx Xxxxx
Xxx Xxxx, XX 00000-0000
Xxxx X. Xxxxxx 52,913 325,414.95
000 Xxxx Xxxx Xxxx
Xxxxxxxx, XX 00000
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Progressive Investment Company, Inc. 94,598 581,777.70
0 Xxxxxxxxx Xx.
Xxxxxx, XX 00000
