HERCULES TECHNOLOGY GROWTH CAPITAL, INC.Board Observer Right Agreement • February 22nd, 2005 • Hercules Technology Growth Capital Inc
This letter will confirm our agreement in connection with the purchase of 800 shares of Series A-1 preferred stock of Hercules Technology Growth Capital, Inc., a Maryland corporation (the “Company”), by Jolson Merchant Partners Group LLC (“JMP”) that, unless earlier terminated in accordance with the terms of this letter agreement, for two years, commencing on the earlier of the date of an Automatic Conversion Event (as defined in the Company’s charter as in effect on the date hereof) and the date upon which you cease to have a representative serving on the Board of Directors of the Company, the Company shall invite you to attend, in a nonvoting observer capacity, all meetings of its Board of Directors occurring during such two year time period and, in this respect, shall give you copies of all notices, minutes, consents, and other material that it provides to its directors in respect thereof; provided, however, that (A) your rights under this letter agreement shall terminate and be of
