{"id":43591,"date":"2015-09-17T11:25:58","date_gmt":"2015-09-17T16:25:58","guid":{"rendered":"https:\/\/content.findlaw-admin.com\/ability-legal\/contracts\/uncategorized\/series-a-preferred-and-common-stock-purchase-agreement.html"},"modified":"2015-09-17T11:25:58","modified_gmt":"2015-09-17T16:25:58","slug":"series-a-preferred-and-common-stock-purchase-agreement","status":"publish","type":"corporate_contracts","link":"https:\/\/corporate.findlaw.com\/contracts\/planning\/series-a-preferred-and-common-stock-purchase-agreement.html","title":{"rendered":"Series A Preferred and Common Stock Purchase Agreement"},"content":{"rendered":"<pre><p align=\"center\"><b>MYSPACE, INC. <\/b><\/p>  <p align=\"center\"><b>SERIES A PREFERRED AND COMMON STOCK PURCHASE AGREEMENT <\/b><\/p>  <p><b>T<small>HIS<\/small> S<small>ERIES<\/small> A P<small>REFERRED<\/small> A<small>ND<\/small> C<small>OMMON<\/small> S<small>TOCK<\/small>\n\nP<small>URCHASE<\/small> A<small>GREEMENT<\/small><\/b><small><\/small> (the \u0093<b><i>Agreement<\/i><\/b>\u0094) is made and entered into as of February 11, 2005, by and among <b>M<small>YSPACE<\/small>, I<small>NC<\/small>.<\/b>, a Delaware corporation\n(the \u0093<b><i>Company<\/i><\/b>\u0094), and each of those persons and entities, severally and not jointly, whose names are set forth on the Schedule of Purchasers attached hereto as <b><u>Exhibit A<\/u><\/b> (which persons and entities are\nhereinafter collectively referred to as \u0093<b><i>Purchasers<\/i><\/b>\u0094 and each individually as a \u0093<b><i>Purchaser<\/i><\/b>\u0094). <\/p>  <p align=\"center\"><b>R<small>ECITALS<\/small> <\/b><\/p>  <p><b>W<small>HEREAS<\/small><\/b><small><\/small>, the Company has authorized the sale and issuance of an aggregate of eight hundred seventy thousand one\nhundred seventy-one (870,171) shares of its Series A Preferred Stock (the \u0093<b><i>Preferred Shares<\/i><\/b>\u0094) and an aggregate of one million one hundred thirty-seven thousand six hundred twenty-four (1,137,624) shares of its Common Stock\n(the \u0093<b><i>Common Shares<\/i><\/b>,\u0094 and together with the Preferred Shares, the \u0093<b><i>Shares<\/i><\/b>\u0094); <\/p>  <p><b>W<small>HEREAS<\/small><\/b><small><\/small>, Purchasers desire to purchase the Shares on the terms and conditions set forth herein; and <\/p>  <p><b>W<small>HEREAS<\/small><\/b><small><\/small>, the transactions contemplated\nby this Agreement and the transactions contemplated by the Contribution Agreement (as defined below) are intended to constitute a single transaction for purposes of Section 351 of the Internal Revenue Code of 1986, as amended. <\/p>  <p><b>W<small>HEREAS<\/small><\/b><small><\/small>, the Company desires to issue\nand sell the Shares to Purchasers on the terms and conditions set forth herein. <\/p>  <p align=\"center\"><b>A<small>GREEMENT<\/small> <\/b><\/p>  <p><b>N<small>OW<\/small>, T<small>HEREFORE<\/small><\/b><small><\/small>, in consideration of the foregoing recitals and the mutual promises, representations, warranties, and covenants hereinafter set forth and for other good and valuable\nconsideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: <\/p> \n\n\n\n<b>1.<\/b><b> A<small>GREEMENT<\/small> T<small>O<\/small> S<small>ELL<\/small> A<small>ND<\/small> P<small>URCHASE<\/small>. <\/b>\n<p><b>1.1 <\/b><b>Authorization of Shares<\/b>. The Company has authorized (a)\nthe sale and issuance to Purchasers of the Shares and (b) the issuance of such shares of Common Stock to be issued upon conversion of the Preferred Shares (the \u0093<b><i>Conversion Shares<\/i><\/b>\u0094). The Shares and the Conversion Shares have\nthe rights, preferences, privileges and restrictions set forth in the Certificate of Incorporation of the Company, in the form attached hereto as <b><u>Exhibit B<\/u><\/b> (the \u0093<b><i>Charter<\/i><\/b>\u0094). <\/p> \n\n <p align=\"center\">1 <\/p>\n\n\n\n\n <p><b>1.2 <\/b><b>Sale and Purchase<\/b>. Subject to the terms and conditions hereof, at the Closing (as\nhereinafter defined) the Company hereby agrees to issue and sell to each Purchaser, and each Purchaser agrees to purchase from the Company, severally and not jointly, (a) the number of Preferred Shares set forth opposite such Purchaser\u0092s name\non <b><u>Exhibit A<\/u><\/b>, at a purchase price of seven dollars and fifteen cents ($7.15) per share, and (b) the number of Common Shares set forth opposite such Purchaser\u0092s name on <b><u>Exhibit A<\/u><\/b>, at a purchase price of four dollars\nand sixty-seven cents ($4.67) per share. <\/p> \n\n\n\n<b>2.<\/b><b> C<small>LOSING<\/small>, D<small>ELIVERY<\/small> A<small>ND<\/small> P<small>AYMENT<\/small>. <\/b>\n<p><b>2.1 <\/b><b>Closing<\/b>. The closing of the sale and purchase of the Shares under this Agreement (the\n\n\u0093<b><i>Closing<\/i><\/b>\u0094) shall take place at 1:00 p.m. on the date hereof, at the offices of Latham &amp; Watkins LLP, 633 West Fifth Street, Suite 4000, Los Angeles, CA 90071, or at such other time or place as the Company and Purchasers\nmay mutually agree (such date is hereinafter referred to as the \u0093<b><i>Closing Date<\/i><\/b>\u0094). <\/p>  <p><b>2.2 <\/b><b>Delivery<\/b>. At the Closing, subject to the terms and conditions hereof, the Company will deliver to each Purchaser a certificate\nrepresenting the number of Preferred Shares and a certificate representing the number of Common Shares to be purchased at the Closing by such Purchaser, against payment of the purchase price therefor by wire transfer of immediately available funds\nto an account designated by the Company. <\/p> \n\n\n<b>3.<\/b><b> R<small>EPRESENTATIONS<\/small> A<small>ND<\/small> W<small>ARRANTIES<\/small> O<small>F<\/small> T<small>HE<\/small> C<small>OMPANY<\/small>. <\/b>\n<p>Except as set forth on a Schedule of Exceptions delivered by the Company to\nPurchasers at the Closing, the Company hereby represents and warrants to each Purchaser as of the date of this Agreement (after giving effect to the consummation of the transactions contemplated by the Contribution Agreement, unless otherwise noted\nbelow) as set forth below. <\/p>  <p><b>3.1 <\/b><b>Organization, Good\nStanding and Qualification<\/b>. The Company is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware. The Company has all requisite corporate power and authority to own and operate its properties\nand assets, to execute and deliver this Agreement and the Stockholders\u0092 Agreement in the form attached hereto as <b><u>Exhibit C<\/u><\/b> (the \u0093<b><i>Stockholders\u0092 Agreement<\/i><\/b>\u0094), the Registration Rights Agreement in the form\nattached hereto as <b><u>Exhibit D<\/u><\/b> (the \u0093<b><i>Registration Rights Agreement<\/i><\/b>\u0094), the Contribution Agreement in the form attached hereto as <b><u>Exhibit E<\/u><\/b> (the \u0093<b><i>Contribution Agreement<\/i><\/b>\u0094), the\nTransition and Finance Services Agreement in the form attached hereto as <b><u>Exhibit F<\/u><\/b> (the \u0093<b><i>Services Agreement<\/i><\/b>\u0094), the Intellectual Property License Agreement in the form attached hereto as <b><u>Exhibit G<\/u><\/b>\n\n(the \u0093<b><i>License Agreement<\/i><\/b>\u0094) and the Management Rights Letter in the form attached hereto as <b><u>Exhibit H<\/u><\/b> (collectively, the \u0093<b><i>Related Agreements<\/i><\/b>\u0094), to issue and sell the Shares and the\nConversion Shares, and to carry out the provisions of this Agreement, the Related Agreements and the Charter and to carry on its business as presently conducted and as presently proposed to be conducted. The Company is duly qualified to do business\nand is in good standing as a foreign corporation in all jurisdictions in which the nature of its activities and of its properties (both owned and leased) makes such qualification necessary, except for those jurisdictions in which failure to do so\nwould not have a material adverse effect on the Company or its business. <\/p> \n <p align=\"center\">2 <\/p>\n\n\n\n\n <p><b>3.2 <\/b><b>Subsidiaries<\/b>. The Company does not own or control any equity security or other interest\nof any other corporation, partnership, limited liability company or other business entity. The Company is not a participant in any joint venture, partnership, limited liability company or similar arrangement. Since its inception, the Company has not\nconsolidated or merged with, acquired all or substantially all of the assets of, or acquired the stock of or any interest in any corporation, partnership, limited liability company or other business entity (other than pursuant to the Related\nAgreements). <\/p>  <p><b>3.3 <\/b><b>Capitalization; Voting Rights<\/b>.\n<\/p>  <p><b>(a) <\/b>The authorized capital stock of\nthe Company, immediately prior to the Closing, consists of (i) 15,000,000 shares of Common Stock, par value $0.001 per share, none of which are issued and outstanding, and (ii) 880,000 shares of Preferred Stock, par value $0.001 per share, all\nshares of which are designated Series A Preferred Stock, none of which are issued and outstanding. Immediately after giving effect to the transactions contemplated by this Agreement and the Contribution Agreement, there will be 6,760,563 shares of\nCommon Stock issued and outstanding and 870,171 shares of Series A Preferred Stock issued and outstanding. <\/p>  <p><b>(b) <\/b>No shares or options to purchase shares of Common Stock have been issued or granted under the Company\u0092s 2005 Equity\nIncentive Plan (the \u0093<b><i>Plan<\/i><\/b>\u0094), and 401,618 shares of Common Stock remain available for future issuance under the Plan to officers, directors, employees and consultants of the Company. The Company has not made any\nrepresentations regarding equity incentives to any officer, employee, director or consultant that are inconsistent with the share amounts and terms set forth in the Company\u0092s board minutes. <\/p>  <p><b>(c) <\/b>Other than the shares reserved for issuance under\nthe Plan and except as may be granted pursuant to this Agreement and the Related Agreements, there are no outstanding options, warrants, rights (including conversion or preemptive rights and rights of first refusal), proxy or stockholder agreements,\nor agreements of any kind for the purchase or acquisition from the Company of any of its securities. <\/p>  <p><b>(d) <\/b>All issued and outstanding shares of the Company\u0092s Common Stock (i) have been duly authorized and validly issued and are\nfully paid and nonassessable, (ii) were issued in compliance with all applicable state and federal laws concerning the issuance of securities, and (iii) are subject to a right of first refusal in favor of the Company on transfer. <\/p>  <p><b>(e) <\/b>The rights, preferences, privileges and\nrestrictions of the Shares are as stated in the Charter. The Conversion Shares have been duly and validly reserved for issuance. When issued in compliance with the provisions of this Agreement and the Charter, the Shares and the Conversion Shares\nwill be validly issued, fully paid and nonassessable, and will be free of any liens or encumbrances other than liens and encumbrances created by or imposed upon the Purchasers; <i>provided, however<\/i>, that the Shares and the Conversion Shares may\nbe subject to restrictions on transfer and subject to a purchase option under the Related Agreements and under state and\/or federal securities laws as set forth herein or as otherwise required by such laws at the time a transfer is proposed. The\nsale of the Shares and the subsequent conversion of the Preferred Shares into Conversion Shares are not and will not be subject to any preemptive rights or rights of first refusal that have not been properly waived or complied with. <\/p> \n\n <p align=\"center\">3 <\/p>\n\n\n\n\n <p><b>(f) <\/b>No stock plan, stock purchase, stock option or other agreement or\nunderstanding between the Company and any holder of any equity securities or rights to purchase equity securities provides for acceleration or other changes in the vesting provisions or other terms of such agreement or understanding as the result of\n(i) termination of employment or consulting services (whether actual or constructive); (ii) any merger, consolidated sale of stock or assets, change in control or any other transaction(s) by the Company; or (iii) the occurrence of any other event or\ncombination of events. <\/p>  <p><b>(g) <\/b>All\noutstanding shares of Common Stock, and all outstanding shares of Common Stock and Preferred Stock issuable upon the exercise or conversion outstanding options, warrants or other exercisable or convertible securities, are subject to a market\nstandoff or \u0093lockup\u0094 agreement of not less than 180 days following the Company\u0092s initial public offering. <\/p>  <p><b>3.4 <\/b><b>Authorization; Binding Obligations<\/b>. All corporate action on the part of the Company, its officers, directors and stockholders necessary\nfor the authorization of this Agreement and the Related Agreements, the performance of all obligations of the Company hereunder and thereunder at the Closing and the authorization, sale, issuance and delivery of the Shares pursuant hereto and the\nConversion Shares pursuant to the Charter has been taken. The Agreement and the Related Agreements, when executed and delivered, will be valid and binding obligations of the Company enforceable in accordance with their terms, except (a) as limited\nby applicable bankruptcy, insolvency, reorganization, moratorium or other laws of general application affecting enforcement of creditors\u0092 rights, (b) general principles of equity that restrict the availability of equitable remedies, and (c) to\nthe extent that the enforceability of the indemnification provisions in the Investor Rights Agreement may be limited by applicable laws. <\/p>  <p><b>3.5 <\/b><b>Liabilities<\/b>. The Company has no material liabilities that would be required to be reflected on a balance sheet in accordance with United\nStates generally acceptable accounting principles (\u0093<b><i>GAAP<\/i><\/b>\u0094) and, to the best of its knowledge, no material contingent liabilities that would be required to be disclosed in footnotes to the Company\u0092s financial statements\nin accordance with GAAP, except in each case current liabilities incurred in the ordinary course of business which would not reasonably be expected to materially and adversely affect the business, assets, properties or financial condition of the\nCompany. <\/p>  <p><b>3.6 <\/b><b>Agreements; Action<\/b>. <\/p>  <p><b>(a) <\/b>Except for agreements explicitly contemplated\nhereby and agreements between the Company on the one hand and its employees with respect to the sale of the Company\u0092s outstanding Common Stock, there are no agreements, understandings or proposed transactions between the Company and any of its\nofficers, directors, employees, affiliates or any affiliate thereof on the other hand. <\/p>  <p><b>(b) <\/b>There are no agreements, understandings, instruments, contracts, proposed transactions, judgments, orders, writs or decrees to\nwhich the Company is a party or to its knowledge by which it is bound which involve (i) future obligations (contingent or otherwise) of, or payments to, the Company in excess of $100,000, or (ii) the transfer or license of any material patent,\ncopyright, trade secret or other proprietary right to or from the Company (other \n\n<\/p> \n <p align=\"center\">4 <\/p>\n\n\n\n\n <p>\nthan licenses by the Company of \u0093off the shelf\u0094 or other standard products), or (iii) provisions restricting the development, manufacture or\ndistribution of the Company\u0092s products or services in any material respect, or (iv) indemnification by the Company with respect to infringements of proprietary rights. <\/p>  <p><b>(c) <\/b>The Company has not (i) accrued, declared or paid any dividends, or authorized or made any\ndistribution upon or with respect to any class or series of its capital stock, (ii) incurred or guaranteed any indebtedness for money borrowed or any other liabilities (other than trade payables incurred in the ordinary course of business)\nindividually in excess of $100,000 or, in the case of indebtedness and\/or liabilities individually less than $100,000, in excess of $300,000 in the aggregate, (iii) made any loans or advances to any person, other than ordinary advances for travel\nexpenses, or (iv) sold, exchanged or otherwise disposed of any of its assets or rights, other than the sale of its inventory in the ordinary course of business. <\/p>  <p><b>(d) <\/b>For the purposes of subsections (b) and (c) above, all indebtedness, liabilities, agreements,\nunderstandings, instruments, contracts and proposed transactions involving the same person or entity (including persons or entities the Company has reason to believe are affiliated therewith) shall be aggregated for the purpose of meeting the\nindividual minimum dollar amounts of such subsections. <\/p>  <p><b>3.7\n\n<\/b><b>Obligations to Related Parties<\/b>. Except pursuant to the Related Agreements and the transactions contemplated thereby, there are no obligations of the Company to officers, directors, stockholders, or employees of the Company other than (a)\nfor payment of salary for services rendered, (b) reimbursement for reasonable expenses incurred on behalf of the Company and (c) for other standard employee benefits made generally available to all employees (including stock option agreements\noutstanding under any stock option plan approved by the Board of Directors of the Company). Other than ownership of shares of stock of any stockholder of the Company that is itself a corporation or limited liability company, none of the officers,\ndirectors or, to the best of the Company\u0092s knowledge, key employees or stockholders of the Company or any members of their immediate families, is indebted to the Company or has any direct or indirect ownership interest in any firm or\ncorporation with which the Company is affiliated or with which the Company has a business relationship, or any firm or corporation that competes with the Company, other than (i) passive investments in publicly traded companies (representing less\nthan 1% of such company) which may compete with the Company and (ii) investments by venture capital funds with which directors of the Company may be affiliated and service as a board member of a company in connection therewith due to a person\u0092s\naffiliation with a venture capital fund or similar institutional investor in such company. No officer, director or stockholder, or any member of their immediate families, is, directly or indirectly, interested in any material contract with the\nCompany (other than the Related Agreements and the transactions contemplated thereby and other than such contracts as relate to any such person\u0092s ownership of capital stock or other securities of the Company). <\/p> \n <p align=\"center\">5 <\/p>\n\n\n\n\n <p><b>3.8 <\/b><b>Changes<\/b>. Since the formation of the Company (and after giving effect to consummation of\nthe transactions contemplated by the Contribution Agreement), there has not been to the Company\u0092s knowledge: <\/p>  <p><b>(a) <\/b>Any change in the assets, liabilities, financial condition or operations of the Company, other than changes in the ordinary\ncourse of business, none of which individually or in the aggregate has had or is reasonably expected to have a material adverse effect on such assets, liabilities, financial condition or operations of the Company; <\/p>  <p><b>(b) <\/b>Any resignation or termination of any officer,\nkey employee or group of employees of the Company; <\/p>  <p><b>(c) <\/b>Any material change, except in the ordinary course of business, in the contingent obligations of the Company by way of guaranty, endorsement, indemnity, warranty or otherwise; <\/p>  <p><b>(d) <\/b>Any damage, destruction or loss, whether or not\ncovered by insurance, materially and adversely affecting the properties, business or prospects or financial condition of the Company; <\/p>  <p><b>(e) <\/b>Any waiver by the Company of a valuable right or of a material debt owed to it; <\/p>  <p><b>(f) <\/b>Any material change in any compensation\narrangement or agreement with any employee, officer, director or stockholder; <\/p>  <p><b>(g) <\/b>Any labor organization activity related to the Company; <\/p>  <p><b>(h) <\/b>Any sale, assignment, or exclusive license or transfer of any patents, trademarks, copyrights, trade secrets or other\nintangible assets; <\/p>  <p><b>(i) <\/b>Any change in\nany material agreement to which the Company is a party or by which it is bound which materially and adversely affects the business, assets, liabilities, financial condition, operations or prospects of the Company; <\/p>  <p><b>(j) <\/b>Any other event or condition of any character\nthat, either individually or cumulatively, has materially and adversely affected the business, assets, liabilities, financial condition or operations of the Company; or <\/p>  <p><b>(k) <\/b>Any arrangement or commitment by the Company to do any of the acts described in subsection (a)\nthrough (j) above. <\/p>  <p><b>3.9 <\/b><b>Title to Properties and\nAssets; Liens, Etc.<\/b> The Company has good and marketable title to its owned properties and assets and a valid leasehold interest in its leasehold estates, in each case subject to no mortgage, pledge, lien, lease, encumbrance or charge, other than\n(a) those resulting from taxes which have not yet become delinquent, (b) minor liens and encumbrances which do not materially detract from the value of the property subject thereto or materially impair the operations of the Company, and (c) those\nthat have otherwise arisen in the ordinary course of business. <\/p> \n\n <p align=\"center\">6 <\/p>\n\n\n\n\n <p><b>3.10 <\/b><b>Intellectual Property<\/b>. <\/p>  <p><b>(a) <\/b>The Company owns or possesses sufficient legal rights to all patents, trademarks, service marks,\ntrade names, copyrights, trade secrets, licenses, information and other proprietary rights and processes necessary for its business as now conducted and as presently proposed to be conducted, without any known infringement of the rights of others.\nThere are no outstanding material options, licenses or agreements of any kind relating to the foregoing proprietary rights, nor is the Company bound by or a party to any material options, licenses or agreements with respect to the patents,\ntrademarks, service marks, trade names, copyrights, trade secrets, licenses, information and other proprietary rights and processes of any other person or entity other than such licenses or agreements arising from the purchase of \u0093off the\nshelf\u0094 or standard products. <\/p>  <p><b>(b)\n\n<\/b>The Company has not received any written communications alleging that the Company has violated or, by conducting its business as presently proposed to be conducted, would violate any of the patents, trademarks, service marks, trade names,\ncopyrights or trade secrets or other proprietary rights of any other person or entity. <\/p>  <p><b>(c) <\/b>The Company is not aware that any of its employees is obligated under any contract (including licenses, covenants or\ncommitments of any nature) or other agreement, or subject to any judgment, decree or order of any court or administrative agency, that would interfere with their duties to the Company or that would conflict with the Company\u0092s business as\nproposed to be conducted. Each employee, officer and consultant of the Company has executed a proprietary information and inventions agreement in the form previously provided to the Purchasers or their respective counsel. No employee, officer or\nconsultant of the Company has excluded works or inventions made prior to his or her employment with the Company from his or her assignment of inventions pursuant to such employee, officer or consultant\u0092s proprietary information and inventions\nagreement. The Company does not believe it is or will be necessary to utilize any inventions, trade secrets or proprietary information of any of its employees made prior to their employment by the Company, except for inventions, trade secrets or\nproprietary information that have been assigned to the Company. <\/p>  <p><b>(d) <\/b>The Company is not subject to any \u0093open source\u0094 or \u0093copyleft\u0094 obligations or otherwise required to make any public disclosure or general availability of source code either used or\ndeveloped by the Company. <\/p>  <p><b>3.11 <\/b><b>Compliance with Other\nInstruments<\/b>. The Company is not in violation or default of any term of its charter documents, each as amended. The Company is not in violation or default under any provision of any mortgage, indenture, contract, lease, agreement, instrument or\ncontract to which it is party or by which it is bound or of any judgment, decree, order or writ which would materially adversely affect the Company\u0092s business, assets, properties or financial condition. The execution, delivery, and performance\nof and compliance with this Agreement, and the Related Agreements, and the issuance and sale of the Shares pursuant hereto and of the Conversion Shares pursuant to the Charter, will not, with or without the passage of time or giving of notice,\nresult in any such violation, or be in conflict with or constitute a default under any such term or provision, or result in the creation of any mortgage, pledge, lien, encumbrance or charge upon any of the properties or assets of the Company or the\nsuspension, revocation, impairment, forfeiture or nonrenewal of any permit, license, authorization or approval applicable to the Company, its business or operations or any of its assets or properties. <\/p> \n\n <p align=\"center\">7 <\/p>\n\n\n\n\n <p><b>3.12 <\/b><b>Litigation<\/b>. There is no action, suit, proceeding or investigation pending or, to the\nCompany\u0092s knowledge, currently threatened against the Company that would reasonably be expected to result, either individually or in the aggregate, in any material adverse change in the assets, business, properties or financial condition of the\nCompany or any change in the current equity ownership of the Company or that questions the validity of this Agreement or the Related Agreements or the right of the Company to enter into any of such agreements, or to consummate the transactions\ncontemplated hereby or thereby. The foregoing includes, without limitation, actions pending or, to the Company\u0092s knowledge, threatened involving the prior employment of any of the Company\u0092s employees, their use in connection with the\nCompany\u0092s business of any information or techniques allegedly proprietary to any of their former employers, or their obligations under any agreements with prior employers. The Company is not a party or to its knowledge subject to the provisions\nof any order, writ, injunction, judgment or decree of any court or government agency or instrumentality. There is no action, suit, proceeding or investigation by the Company currently pending or which the Company intends to initiate. <\/p>  <p><b>3.13 <\/b><b>Tax Returns and Payments<\/b>. The Company is and always has\nbeen a subchapter C corporation. The Company has not been required to file any tax returns (federal, state and local) prior to the date hereof (and no such tax returns have been filed). The Company has no knowledge of any liability of any tax to be\nimposed upon its properties or assets as of the date of this Agreement that is not adequately provided for. <\/p>  <p><b>3.14 <\/b><b>Employees<\/b>. The Company has no collective bargaining agreements with any of its employees. There is no labor union organizing activity\npending or, to the Company\u0092s knowledge, threatened with respect to the Company. The Company is not a party to or bound by any currently effective employment contract, deferred compensation arrangement, bonus plan, incentive plan, profit sharing\nplan, retirement agreement or other employee compensation plan or agreement. No employee of the Company has been granted the right to continued employment by the Company or to any material compensation following termination of employment with the\nCompany. To the Company\u0092s knowledge, no employee of the Company, nor any consultant with whom the Company has contracted, is in violation of any term of any employment contract, proprietary information agreement or any other agreement relating\nto the right of any such individual to be employed by, or to contract with, the Company; and to the Company\u0092s knowledge the continued employment by the Company of its present employees, and the performance of the Company\u0092s contracts with\nits independent contractors, will not result in any such violation. The Company has not received any notice alleging that any such violation has occurred. The Company is not aware that any officer, key employee or group of employees intends to\nterminate his, her or their employment with the Company, nor does the Company have a present intention to terminate the employment of any officer, key employee or group of employees. Each former employee of the Company whose employment was\nterminated by the Company has entered into an agreement with the Company providing for the full release of any claims against the Company or any related party arising out of such employment. There are no actions pending, or to the Company\u0092s\nknowledge, threatened, by any former or current employee concerning such person\u0092s employment by the Company. <\/p>  <p><b>3.15 <\/b><b>Registration Rights and Voting Rights<\/b>. Except as required pursuant to the Registration Rights Agreement, the Company is presently not\nunder any obligation, and has not granted any rights, to register under the Securities Act of 1933, as amended (the \u0093<b><i>Securities <\/i><\/b> \n\n<\/p> \n <p align=\"center\">8 <\/p>\n\n\n\n\n <p>\n<b><i>Act<\/i><\/b>\u0094), any of the Company\u0092s presently outstanding securities or any of its securities that may hereafter be issued. To the\nCompany\u0092s knowledge, except as contemplated in the Stockholders\u0092 Agreement, no stockholder of the Company has entered into any agreement with respect to the voting of equity securities of the Company. <\/p>  <p><b>3.16 <\/b><b>Compliance with Laws; Permits<\/b>. The Company is not in\nviolation of any applicable statute, rule, regulation, order or restriction of any domestic or foreign government or any instrumentality or agency thereof in respect of the conduct of its business or the ownership of its properties, which violation\nwould materially and adversely affect the business, assets, properties or financial condition of the Company. No domestic governmental orders, permissions, consents, approvals or authorizations are required to be obtained and no registrations or\ndeclarations are required to be filed in connection with the execution and delivery of this Agreement or the issuance of the Shares or the Conversion Shares, except such as have been duly and validly obtained or filed, or with respect to any filings\nthat must be made after the Closing, as will be filed in a timely manner. The Company has all franchises, permits, licenses and any similar authority necessary for the conduct of its business as now being conducted by it, the lack of which could\nmaterially and adversely affect the business, assets, properties or financial condition of the Company and believes it can obtain, without undue burden or expense, any similar authority for the conduct of its business as planned to be conducted.\n\n<\/p>  <p><b>3.17 <\/b><b>Environmental and Safety Laws<\/b>. To its\nknowledge, the Company is not in violation of any applicable statute, law or regulation relating to the environment or occupational health and safety in any material respect, and to its knowledge, no material expenditures are or will be required in\norder to comply with any such existing statute, law or regulation. <\/p>  <p><b>3.18 <\/b><b>Offering Valid<\/b>. Assuming the accuracy of the representations and warranties of Purchasers contained in Section 4.2 hereof, the offer, sale and issuance of the Shares and the Conversion Shares will be exempt from the\nregistration requirements of the Securities Act, and will have been registered or qualified (or are exempt from registration and qualification) under the registration, permit or qualification requirements of all applicable state securities laws.\nNeither the Company nor any agent on its behalf has solicited or will solicit any offers to sell or has offered to sell or will offer to sell all or any part of the Shares to any person or persons so as to bring the sale of such Shares by the\nCompany within the registration provisions of the Securities Act or any state securities laws. <\/p>  <p><b>3.19 <\/b><b>Full Disclosure<\/b>. The Company has provided Purchasers with all information requested by the Purchasers in connection with their decision to purchase the Shares. To the Company\u0092s knowledge, there\nare no facts which (individually or in the aggregate) materially adversely affect the business, assets, liabilities, financial condition or operations of the Company that have not been set forth in the Agreement, the exhibits hereto, the Related\nAgreements or in other documents delivered to Purchasers or their attorneys or agents in connection herewith. <\/p>  <p><b>3.20 <\/b><b>Qualified Small Business<\/b>. The Company represents and warrants to Purchasers that, to the best of its knowledge, the Company is a\n\n\u0093qualified small business\u0094 within the meaning of Section 1202(d) of the Internal Revenue Code of 1986, as amended (the \u0093<b><i>Code<\/i><\/b>\u0094), \n<\/p> \n <p align=\"center\">9 <\/p>\n\n\n\n\n <p>\n\nas of the date hereof and the Shares should qualify as \u0093qualified small business stock\u0094 as defined in Section 1202(c) of the Code as of the date\nhereof. The Company further represents and warrants that, as of the date hereof, it meets the \u0093active business requirement\u0094 of Section 1202(e) of the Code, and it has made no \u0093significant redemptions\u0094 within the meaning of\nSection 1202(c)(3)(B) of the Code. <\/p>  <p><b>3.21 <\/b><b>Minute\nBooks<\/b>. The minute books of the Company made available to Purchasers contain a complete summary of all meetings of directors and stockholders since the time of incorporation. <\/p>  <p><b>3.22 <\/b><b>Real Property Holding Corporation<\/b>. The Company is not a real property holding corporation within the\nmeaning of Code Section 897(c)(2) and any regulations promulgated thereunder. <\/p>  <p><b>3.23 <\/b><b>Insurance<\/b>. The Company has or will obtain (or arrange to be covered by) promptly following the Closing general commercial, product liability, fire and casualty insurance policies with coverage\ncustomary for companies similarly situated to the Company. <\/p> \n\n\n\n<b>4. <\/b><b>R<small>EPRESENTATIONS<\/small> A<small>ND<\/small> W<small>ARRANTIES<\/small> O<small>F<\/small> P<small>URCHASERS<\/small>. <\/b>\n<p>Each Purchaser hereby represents and warrants to the Company, severally and\nnot jointly, as follows (<i>provided<\/i>, that such representations and warranties do not lessen or obviate the representations and warranties of the Company set forth in this Agreement): <\/p>  <p><b>4.1 <\/b><b>Requisite Power and Authority<\/b>. Purchaser has all necessary power and authority to execute and deliver this\nAgreement and the Related Agreements and to carry out their provisions. All action on Purchaser\u0092s part required for the lawful execution and delivery of this Agreement and the Related Agreements has been taken. Upon their execution and\ndelivery, this Agreement and the Related Agreements will be valid and binding obligations of Purchaser, enforceable in accordance with their terms, except (a) as limited by applicable bankruptcy, insolvency, reorganization, moratorium or other laws\nof general application affecting enforcement of creditors\u0092 rights, (b) as limited by general principles of equity that restrict the availability of equitable remedies, and (c) to the extent that the enforceability of the indemnification\nprovisions of the Investor Rights Agreement may be limited by applicable laws. <\/p>  <p><b>4.2 <\/b><b>Investment Representations<\/b>. Purchaser understands that neither the Shares nor the Conversion Shares have been registered under the Securities Act. Purchaser also understands that the Shares are being\noffered and sold pursuant to an exemption from registration contained in the Securities Act based in part upon Purchaser\u0092s representations contained in the Agreement. Purchaser hereby represents and warrants as follows: <\/p>  <p><b>(a) <\/b><b>Purchaser Bears Economic Risk.<\/b> Purchaser\nhas substantial experience in evaluating and investing in private placement transactions of securities in companies similar to the Company so that it is capable of evaluating the merits and risks of its investment in the Company and has the capacity\nto protect its own interests. Purchaser must bear the economic risk of this investment indefinitely unless the Shares (or the Conversion Shares) are registered pursuant to the Securities Act, or an exemption from registration is available. Purchaser\nunderstands that the Company has no present intention of registering the \n\n<\/p> \n <p align=\"center\">10 <\/p>\n\n\n\n\n <p>\nShares, the Conversion Shares or any shares of its Common Stock. Purchaser also understands that there is no assurance that any exemption from registration\nunder the Securities Act will be available and that, even if available, such exemption may not allow Purchaser to transfer all or any portion of the Shares or the Conversion Shares under the circumstances, in the amounts or at the times Purchaser\nmight propose. <\/p>  <p><b>(b) <\/b><b>Acquisition for\nOwn Account. <\/b>Purchaser is acquiring the Shares and the Conversion Shares for Purchaser\u0092s own account for investment only, and not with a view towards their distribution. <\/p>  <p><b>(c) <\/b><b>Purchaser Can Protect Its Interest.<\/b> Purchaser represents that by reason of its, or of its\nmanagement\u0092s, business or financial experience, Purchaser has the capacity to protect its own interests in connection with the transactions contemplated in this Agreement, and the Related Agreements. Further, Purchaser is aware of no\npublication of any advertisement in connection with the transactions contemplated in the Agreement. <\/p>  <p><b>(d) <\/b><b>Accredited Investor. <\/b>Purchaser represents that it is an accredited investor within the meaning of Regulation D under the\nSecurities Act. <\/p>  <p><b>(e) <\/b><b>Company\nInformation.<\/b> Purchaser has had an opportunity to discuss the Company\u0092s business, management and financial affairs with directors, officers and management of the Company and has had the opportunity to review the Company\u0092s operations and\nfacilities. Purchaser has also had the opportunity to ask questions of and receive answers from, the Company and its management regarding the terms and conditions of this investment. <\/p>  <p><b>(f) <\/b><b>Rule 144. <\/b>Purchaser acknowledges and agrees that the Shares, and, if issued, the\nConversion Shares are \u0093restricted securities\u0094 as defined in Rule 144 promulgated under the Securities Act as in effect from time to time and must be held indefinitely unless they are subsequently registered under the Securities Act or an\nexemption from such registration is available. Purchaser has been advised or is aware of the provisions of Rule 144, which permits limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions,\nincluding, among other things: the availability of certain current public information about the Company, the resale occurring following the required holding period under Rule 144 and the number of shares being sold during any three-month period not\nexceeding specified limitations. <\/p>  <p><b>(g)\n\n<\/b><b>Residence. <\/b>If Purchaser is an individual, then Purchaser resides in the state or province identified in the address of Purchaser set forth on <b><u>Exhibit A<\/u><\/b>; if Purchaser is a partnership, corporation, limited liability company\nor other entity, then the office or offices of Purchaser in which its investment decision was made is located at the address or addresses of Purchaser set forth on <b><u>Exhibit A<\/u><\/b>. <\/p>  <p><b>(h) <\/b><b>Foreign Investors. <\/b>If Purchaser is not a\nUnited States person (as defined by Section 7701(a)(30) of the Internal Revenue Code of 1986, as amended), Purchaser hereby represents that it has satisfied itself as to the full observance of the laws of its jurisdiction in connection with any\ninvitation to subscribe for the Shares or any use of this Agreement, including (i) the legal requirements within its jurisdiction for the purchase of the Shares, (ii) any \n<\/p> \n <p align=\"center\">11 <\/p>\n\n\n\n\n <p>\nforeign exchange restrictions applicable to such purchase, (iii) any government or other consents that may need to be obtained, and (iv) the income tax and\nother tax consequences, if any, that may be relevant to the purchase, holding, redemption, sale or transfer of the Shares. The Company\u0092s offer and sale and Purchaser\u0092s subscription and payment for and continued beneficial ownership of the\nShares will not violate any applicable securities or other laws of Purchaser\u0092s jurisdiction. <\/p>  <p><b>4.3 <\/b><b>Transfer Restrictions<\/b>. Each Purchaser acknowledges and agrees that the Shares and, if issued, the Conversion Shares are subject to\nrestrictions on transfer as set forth in the Stockholders\u0092 Agreement. <\/p> \n\n\n\n<b>5.<\/b><b> C<small>ONDITIONS<\/small> T<small>O<\/small> C<small>LOSING<\/small>. <\/b>\n<p><b>5.1 <\/b><b>Conditions to Purchasers\u0092 Obligations at the Closing<\/b>. Purchasers\u0092 obligations to purchase the Shares at the Closing are\nsubject to the satisfaction, at or prior to the Closing Date, of the following conditions: <\/p>  <p><b>(a) <\/b><b>Representations and Warranties True; Performance of Obligations.<\/b> The representations and warranties made by the Company\nin Section 3 hereof shall be true and correct as of the Closing Date with the same force and effect as if they had been made as of the Closing Date, and the Company shall have performed all obligations and conditions herein required to be performed\nor observed by it on or prior to the Closing. <\/p>  <p><b>(b) <\/b><b>Legal Investment. <\/b>On the Closing Date, the sale and issuance of the Shares and the proposed issuance of the Conversion Shares shall be legally permitted by all laws and regulations to which Purchasers and the Company are\nsubject.<b><\/b> <\/p>  <p><b>(c) <\/b><b>Consents,\nPermits, and Waivers.<\/b> The Company shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of the transactions contemplated by the Agreement and the Related Agreements (including any filing required\nto comply with the Hart Scott Rodino Antitrust Improvements Act of 1976) except for such as may be properly obtained subsequent to the Closing. <\/p>  <p><b>(d) <\/b><b>Filing of Charter.<\/b> The Charter shall have been filed with the Secretary of State of the State of Delaware and shall\ncontinue to be in full force and effect as of the Closing Date. <\/p>  <p><b>(e) <\/b><b>Corporate Documents.<\/b> The Company shall have delivered to Purchasers or their counsel copies of all corporate documents of the Company as Purchasers shall reasonably request. <\/p>  <p><b>(f) <\/b><b>Reservation of Conversion Shares<\/b>. The\nConversion Shares issuable upon conversion of the Preferred Shares shall have been duly authorized and reserved for issuance upon such conversion. <\/p>  <p><b>(g) <\/b><b>Compliance Certificate.<\/b> The Company shall have delivered to Purchasers a Compliance Certificate, executed by the\nPresident of the Company, dated the \n\n<\/p> \n <p align=\"center\">12 <\/p>\n\n\n\n\n <p>\nClosing Date, to the effect that the conditions specified in subsections (a), (c), (d) and (f) of this Section 5.1 have been satisfied. <\/p>  <p><b>(h) <\/b><b>Secretary\u0092s Certificate.<\/b> Purchasers\nshall have received from the Company\u0092s Secretary, a certificate having attached thereto (i) the Company\u0092s Charter as in effect at the time of the Closing, (ii) the Company\u0092s Bylaws as in effect at the time of the Closing, and (iii)\nresolutions approved by the Board of Directors authorizing the transactions contemplated hereby. <\/p>  <p><b>(i) <\/b><b>Related Agreements<\/b>. The Stockholders\u0092 Agreement, Registration Rights Agreement, Contribution Agreement, License\nAgreement and Services Agreement shall each have been executed and delivered by the parties thereto. <\/p>  <p><b>(j) <\/b><b>Board of Directors.<\/b> Upon the Closing, the authorized size of the Board of Directors of the Company shall be five (5)\nmembers and the Board shall consist of Richard Rosenblatt, Andrew Sheehan, Geoffrey Yang, Christopher DeWolfe and there will be one vacancy. <\/p>  <p><b>(k) <\/b><b>Proceedings and Documents<\/b>. All corporate and other proceedings in connection with the transactions contemplated at the\nClosing hereby and all documents and instruments incident to such transactions shall be reasonably satisfactory in substance and form to Purchasers and their special counsel, and Purchasers and their special counsel shall have received all such\ncounterpart originals or certified or other copies of such documents as they may reasonably request. <\/p>  <p><b>(l) <\/b><b>Management Rights<\/b>. A Management Rights Letter substantially in the form attached hereto as <b><u>Exhibit H<\/u><\/b> shall\nhave been executed by the Company and delivered to each Purchaser to whom it is addressed.<b><\/b> <\/p>  <p><b>5.2 <\/b><b>Conditions to Obligations of the Company<\/b>. The Company\u0092s obligation to issue and sell the Shares at each Closing is subject to the\nsatisfaction, on or prior to such Closing, of the following conditions: <\/p>  <p><b>(a) <\/b><b>Representations and Warranties True<\/b>. The representations and warranties in Section 4 made by those Purchasers acquiring Shares hereof shall be true and correct at the date of the Closing, with the\nsame force and effect as if they had been made on and as of said date. <\/p>  <p><b>(b) <\/b><b>Performance of Obligations<\/b>. Such Purchasers shall have performed and complied with all agreements and conditions herein required to be performed or complied with by such Purchasers on or before the\nClosing. <\/p>  <p><b>(c) <\/b><b>Related Agreement<\/b>.\nThe Stockholders\u0092 Agreement, Registration Rights Agreement, Contribution Agreement, License Agreement and Services Agreement shall have been executed and delivered by the parties hereto. <\/p>  <p><b>(d) <\/b><b>Consents, Permits, and Waivers<\/b>. The\nCompany shall have obtained any and all consents, permits and waivers necessary or appropriate for consummation of \n\n<\/p> \n <p align=\"center\">13 <\/p>\n\n\n\n\n <p>\nthe transactions contemplated by the Agreement and the Related Agreements (including any filing required to comply with the Hart Scott Rodino Antitrust\nImprovements Act of 1976, and except for such as may be properly obtained subsequent to the Closing). <\/p> \n\n\n\n<b>6.<\/b><b> M<small>ISCELLANEOUS<\/small>. <\/b>\n<p><b>6.1 <\/b><b>Governing Law<\/b>. This Agreement shall be governed by and construed under the laws of the State of California in all respects as such laws\nare applied to agreements among California residents entered into and performed entirely within California, without giving effect to conflict of law principles thereof. <\/p>  <p><b>6.2 <\/b><b>Survival<\/b>. The representations, warranties, covenants and agreements made herein shall survive the closing\nof the transactions contemplated hereby. All statements as to factual matters contained in any certificate or other instrument delivered by or on behalf of the Company pursuant hereto in connection with the transactions contemplated hereby shall be\ndeemed to be representations and warranties by the Company hereunder solely as of the date of such certificate or instrument. The representations, warranties, covenants and obligations of the Company, and the rights and remedies that may be\nexercised by the Purchasers, shall not be limited or otherwise affected by or as a result of any information furnished to, or any investigation made by or knowledge of, any of the Purchasers or any of their representatives. <\/p>  <p><b>6.3 <\/b><b>Successors and Assigns<\/b>. Except as otherwise expressly\nprovided herein, the provisions hereof shall inure to the benefit of, and be binding upon the parties hereto and their respective successors, assigns, heirs, executors and administrators and shall inure to the benefit of and be enforceable by each\nperson who shall be a holder of the Shares from time to time; <i>provided, however<\/i>, that prior to the receipt by the Company of adequate written notice of the transfer of any Shares specifying the full name and address of the transferee, the\nCompany may deem and treat the person listed as the holder of such Shares in its records as the absolute owner and holder of such Shares for all purposes. <\/p>  <p><b>6.4 <\/b><b>Entire Agreement<\/b>. This Agreement, the exhibits and schedules hereto, the Related Agreements and the other documents delivered pursuant\nhereto constitute the full and entire understanding and agreement between the parties with regard to the subjects hereof and no party shall be liable for or bound to any other in any manner by any oral or written representations, warranties,\ncovenants and agreements except as specifically set forth herein and therein. <\/p>  <p><b>6.5 <\/b><b>Severability<\/b>. In the event one or more of the provisions of this Agreement should, for any reason, be held to be invalid, illegal or unenforceable in any respect, such invalidity, illegality or\nunenforceability shall not affect any other provisions of this Agreement, and this Agreement shall be construed as if such invalid, illegal or unenforceable provision had never been contained herein. <\/p>  <p><b>6.6 <\/b><b>Amendment and Waiver<\/b>. This Agreement may be amended or\nmodified, and the obligations of the Company and the rights of the holders of the Shares and the Conversion Shares under the Agreement may be waived, only upon the written consent of the Company and holders of a majority of the Shares purchased or\nagreed to be purchased pursuant \n\n<\/p> \n <p align=\"center\">14 <\/p>\n\n\n\n\n <p>\nto this Agreement (treated as if converted and including any Conversion Shares into which the then outstanding Shares have been converted that have not been\nsold to the public). <\/p>  <p><b>6.7 <\/b><b>Delays or Omissions<\/b>. It\nis agreed that no delay or omission to exercise any right, power or remedy accruing to any party, upon any breach, default or noncompliance by another party under this Agreement shall impair any such right, power or remedy, nor shall it be construed\nto be a waiver of any such breach, default or noncompliance, or any acquiescence therein, or of or in any similar breach, default or noncompliance thereafter occurring. It is further agreed that any waiver, permit, consent or approval of any kind or\ncharacter on any party\u0092s part of any breach, default or noncompliance under this Agreement or any waiver on such party\u0092s part of any provisions or conditions of the Agreement must be in writing and shall be effective only to the extent\nspecifically set forth in such writing. All remedies, either under this Agreement by law, or otherwise afforded to any party, shall be cumulative and not alternative. <\/p>  <p><b>6.8 <\/b><b>Notices<\/b>. All notices required or permitted hereunder shall be in writing and shall be deemed effectively\ngiven: (a) upon personal delivery to the party to be notified, (b) when sent by confirmed electronic mail, telex or facsimile if sent during normal business hours of the recipient, if not, then on the next business day, (c) five (5) days after\nhaving been sent by registered or certified mail, return receipt requested, postage prepaid, or (d) one (1) day after deposit with a nationally recognized overnight courier, specifying next day delivery, with written verification of receipt. All\ncommunications shall be sent to the Company at the address as set forth on the signature page hereof and to Purchaser at the address set forth on <b><u>Exhibit A<\/u><\/b> attached hereto or at such other address or electronic mail address as the\nCompany or Purchaser may designate by ten (10) days advance written notice to the other parties hereto. <\/p>  <p><b>6.9 <\/b><b>Expenses<\/b>. Each party shall pay all costs and expenses that it incurs with respect to the negotiation, execution, delivery and\nperformance of the Agreement; provided, however, that the Company shall, at the Closing, reimburse the reasonable fees of Cooley Godward LLP, not to exceed $40,000, and in addition to such fees shall reimburse such special counsel for reasonable\nexpenses incurred in connection with the negotiation, execution, delivery and performance of this Agreement. <\/p>  <p><b>6.10 <\/b><b>Attorneys\u0092 Fees<\/b>. In the event that any suit or action is instituted under or in relation to this Agreement, including without\nlimitation to enforce any provision in this Agreement, the prevailing party in such dispute shall be entitled to recover from the losing party all fees, costs and expenses of enforcing any right of such prevailing party under or with respect to this\nAgreement, including without limitation, such reasonable fees and expenses of attorneys and accountants, which shall include, without limitation, all fees, costs and expenses of appeals. <\/p>  <p><b>6.11 <\/b><b>Titles and Subtitles<\/b>. The titles of the sections and subsections of the Agreement are for convenience of\nreference only and are not to be considered in construing this Agreement. <\/p>  <p><b>6.12 <\/b><b>Counterparts<\/b>. This Agreement may be executed in any number of counterparts, each of which shall be an original, but all of which together shall constitute one instrument. <\/p> \n\n <p align=\"center\">15 <\/p>\n\n\n\n\n <p><b>6.13 <\/b><b>Broker\u0092s Fees<\/b>. Each party hereto represents and warrants that no agent, broker,\ninvestment banker, person or firm acting on behalf of or under the authority of such party hereto is or will be entitled to any broker\u0092s or finder\u0092s fee or any other commission directly or indirectly in connection with the transactions\ncontemplated herein. Each party hereto further agrees to indemnify each other party for any claims, losses or expenses incurred by such other party as a result of the representation in this Section 6.13 being untrue. <\/p>  <p><b>6.14 <\/b><b>Exculpation Among Purchasers<\/b>. Each Purchaser acknowledges\nthat it is not relying upon any person, firm, or corporation, other than the Company and its officers and directors, in making its investment or decision to invest in the Company. Each Purchaser agrees that no Purchaser nor the respective\ncontrolling persons, officers, directors, partners, agents, or employees of any Purchaser shall be liable to any other Purchaser for any action heretofore or hereafter taken or omitted to be taken by any of them in connection with the purchase of\nthe Shares and Conversion Shares. <\/p>  <p><b>6.15 <\/b><b>Pronouns<\/b>.\nAll pronouns contained herein, and any variations thereof, shall be deemed to refer to the masculine, feminine or neutral, singular or plural, as to the identity of the parties hereto may require. <\/p>  <p><b>6.16 <\/b><b>California Corporate Securities Law<\/b>. THE SALE OF THE\nSECURITIES THAT ARE THE SUBJECT OF THIS AGREEMENT HAS NOT BEEN QUALIFIED WITH THE COMMISSIONER OF CORPORATIONS OF THE STATE OF CALIFORNIA AND THE ISSUANCE OF SUCH SECURITIES OR THE PAYMENT OR RECEIPT OF ANY PART OF THE CONSIDERATION THEREFOR PRIOR\nTO SUCH QUALIFICATION OR IN THE ABSENCE OF AN EXEMPTION FROM SUCH QUALIFICATION IS UNLAWFUL. PRIOR TO ACCEPTANCE OF SUCH CONSIDERATION BY THE COMPANY, THE RIGHTS OF ALL PARTIES TO THIS AGREEMENT ARE EXPRESSLY CONDITIONED UPON SUCH QUALIFICATION\nBEING OBTAINED OR AN EXEMPTION FROM SUCH QUALIFICATION BEING AVAILABLE. <\/p>  <p align=\"center\"><b><i>**End of Agreement \u0096 Signature Page Follows** <\/i><\/b><\/p> \n\n <p align=\"center\">16 <\/p>\n\n\n\n\n <p><b>I<small>N<\/small> W<small>ITNESS<\/small> W<small>HEREOF<\/small><\/b><small><\/small>, the parties hereto\nhave executed the <b>S<small>ERIES<\/small> A P<small>REFERRED<\/small> <small>AND<\/small> C<small>OMMON<\/small> S<small>TOCK<\/small> P<small>URCHASE<\/small> A<small>GREEMENT<\/small><\/b><small><\/small> as of the date set forth in the first paragraph\nhereof. <\/p> \n\n\n\n\n\n\n\n <p><strong>[signatures redacted] <\/strong><\/p>\n \n \n\n<\/pre>\n","protected":false},"template":"","meta":{"_acf_changed":false,"_stopmodifiedupdate":true,"_modified_date":"","_cloudinary_featured_overwrite":false},"corporate_contracts_companies":[7885],"corporate_contracts_industries":[9497],"corporate_contracts_types":[9622,9627],"class_list":["post-43591","corporate_contracts","type-corporate_contracts","status-publish","hentry","corporate_contracts_companies-intermix-media-inc","corporate_contracts_industries-retail__electronics","corporate_contracts_types-planning","corporate_contracts_types-planning__purchase"],"acf":[],"_links":{"self":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts\/43591","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts"}],"about":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/types\/corporate_contracts"}],"wp:attachment":[{"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/media?parent=43591"}],"wp:term":[{"taxonomy":"corporate_contracts_companies","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_companies?post=43591"},{"taxonomy":"corporate_contracts_industries","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_industries?post=43591"},{"taxonomy":"corporate_contracts_types","embeddable":true,"href":"https:\/\/corporate.findlaw.com\/legal-api\/wp-json\/wp\/v2\/corporate_contracts_types?post=43591"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}