EXHIBIT 4.4
MAGINET CORPORATION
FIRST AMENDMENT OF AMENDED AND RESTATED SHAREHOLDERS'
AGREEMENT DATED AS OF DECEMBER 29, 1995
This First Amendment (the "First Amendment") is made and entered into as of
May 15, 1996 pursuant to Section 10.8 of the Amended and Restated Shareholders'
Agreement dated December 29, 1995 (the "Shareholders' Agreement") by and among
MagiNet Corporation, a California corporation (the "Company"), the holders of
outstanding securities of the Company listed on Exhibit A to the Shareholders'
---------
Agreement, and any purchasers of the Company's Series D Preferred Stock
subsequent to the date hereof referred to in Section 12 of this First Amendment.
Capitalized terms used in this First Amendment that are not otherwise defined
herein shall have the respective meanings assigned to them in the Shareholders'
Agreement.
R E C I T A L S
A. Pursuant to Section 1 of the Shareholders' Agreement, the Company
granted certain registration rights to the Holders;
B. Pursuant to Section 2 of the Shareholders' Agreement, the Shareholders
entered agreements relating to the election of directors;
C. Pursuant to Section 3 of the Shareholders' Agreement, the Company
granted to the Right Holders a right of first refusal to acquire New Securities;
D. Pursuant to Section 4 of the Shareholders' Agreement, the Shareholders
agreed to certain restrictions on transfer of the Company's securities held by
the Shareholders and granted the Company and the Remaining Holders a right of
first offer on transfers by such Shareholder;
E. The Shareholders' Agreement grants certain other rights to and imposes
certain additional obligations on the Company and the other parties to the
Shareholders' Agreement;
F. On December 29, 1995, the Company closed the first sale and issuance of
its Series D Preferred Stock (the "Series D Preferred") to certain Shareholders,
each of whom became a party to the Shareholders' Agreement as a condition to
purchasing such Series D Preferred;
G. The individuals and entities listed on Schedule A attached hereto (the
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"New Series D Purchasers") are purchasing shares of the Series D Preferred at
the second closing of the Company's sale and issuance of the Series D Preferred;
H. The New Series D Purchasers wish to be parties to the Shareholders'
Agreement on the same terms and subject to the same conditions as the prior
purchasers of the Series D Preferred; and
I. As an inducement to the New Series D Purchasers to purchase the Series
D Preferred, the Company and the rights holders under the Shareholders'
Agreement have agreed to enter this First Amendment in order to make the New
Series D Purchasers parties to the Shareholders Agreement.
AGREEMENT
NOW, THEREFORE, in consideration of the foregoing, and the mutual promises
and covenants contained herein, the parties hereto agree as follows:
1. Exhibit A of the Shareholders Agreement is hereby restated as set forth
on Schedule B hereto to include the New Series D Purchasers.
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2. The New Series D Purchasers shall be deemed "Shareholders" or "Holders"
for all purposes under the Shareholders' Agreement.
3. The definition of "Common Warrants" set forth in Section 1.1 of the
Shareholders Agreement is hereby amended and restated in its entirety to read as
follows:
" `Common Warrants' means (i) those warrants, dated August 15, 1995
---------------
and amended May 15, 1996, to purchase shares of Common Stock of the Company
granted to certain investors in connection with the purchase and sale of
the Company's Senior Secured Notes due 2000 in the aggregate principal
amount of up to $30,000,000 pursuant to the Note Agreement dated August 15,
1995, as amended pursuant to the First Amendment Agreement dated as of May
15, 1996 and (ii) those warrants dated May 15, 1996 to purchase shares of
Common Stock of the Company granted to the purchasers of the Company's
Series D Preferred Stock."
4. Section 1.5 of the Shareholders Agreement is hereby amended to delete
the phrase ", unless the Holders shall agree that such withdrawn registration
shall be counted as a registration for purposes of Section 1.2(a)(ii)(D)."
5. Section 1.14 of the Shareholders Agreement is hereby restated to read
in its entirety as follows:
"1.14 Lock-Up Provision. If requested by the Company and an
-----------------
underwriter of equity securities of the Company, no Holder shall sell or
otherwise transfer or dispose of any Restricted Securities (without the
written consent of such underwriters and other than those securities
included in the registration) during the up to one hundred eighty- (180-)
day period following the effective date of a registration statement filed
in connection with the public offering of the Company's securities,
provided that all officers and directors enter into similar agreements. The
obligations described in this
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Section 1.14 shall not apply to a registration relating solely to employee
benefit plans on Form S-1 or Form S-8 or similar form that may be
promulgated in the future. The Company may impose stop-transfer
instructions with respect to the securities subject to the foregoing
restriction until the end of the one hundred eighty- (180-) day period."
6. Section 2.2 of the Shareholders Agreement is hereby restated to read
in its entirety as follows:
"2.2 Election of Directors. Each time the Shareholders shall meet,
---------------------
or act by written consent in lieu of acting at a meeting, for the purpose
of electing one or more directors of the Company, each Shareholder agrees
to vote its Shares (i) for the election of three (3) representatives of
Sunset Partners (hereinafter defined as Sunset Partners, L.P., Sunset
Partners II, L.P., and Sunset Partners III, L.P. collectively), (ii) for
the election of one (1) representative of Pomona Capital and its affiliated
partnerships, and (iii) in the event that Equity-Linked Investors II ("ELI-
II") shall become entitled to elect a representative to the Board of
Directors pursuant to Section 3.2 of the Series D Preferred Stock Investors
Rights Agreement (the "Series D Rights Agreement") of even date herewith,
for the election of one (1) representative of ELI II; provided, however,
that each Shareholder also agrees to vote its shares for the election of
two (2) representatives of the holders of Series C Preferred Stock as two
additional directors (resulting in a board of nine (9) directors) if the
Company fails to meet any one or more of the following three criteria for
the period (the "Relevant Period") commencing on the date hereof and ending
December 31, 1996:
(a) average gross revenues per room of not less than $30 per month for
the Relevant Period,
(b) at least 100,000 rooms installed by the end of the Relevant
Period, and
(c) a capital cost per room (including the cost of interactive
shopping, but excluding the cost of televisions) of not more than $600
based on rooms added during the Relevant Period.
The obligation assumed by each Shareholder hereunder to vote its Shares as
set forth above shall be deemed to be a right coupled with an interest in
favor of each other Shareholder, and each other Shareholder may, by acting
through a person designated by Shareholders holding a majority of the
Shares subject to this provision, vote such Shareholder's Shares by proxy.
The parties to this Restated Shareholders' Agreement shall vote their
Shares to maintain a board of seven (7) directors, unless either (i) one or
more of the foregoing three criteria are not met during the Relevant Period
or (ii) ELI-II shall become entitled to elect a representative to the Board
of Directors pursuant to the Series D Rights Agreement. In the case of (i)
above, the parties hereto
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shall vote their Shares to increase the board to nine (9) directors with
the additional two (2) directors nominated and elected as set forth above.
In the case of (ii) above, the parties hereto shall vote their shares to
increase the board by one director and to elect the representative of ELI-
II to fill such position as set forth above and in the Series D Rights
Agreement."
7. Section 2.4 of the Shareholders Agreement is hereby restated to read
in its entirety as follows:
"2.4 Effectiveness; Termination. This Section 2 shall become
--------------------------
effective on the date hereof. This Section 2 shall terminate upon the
closing of the Company's first offering of voting equity securities to the
public pursuant to a registration statement filed with the Securities and
Exchange Commission or the equivalent securities authority or agency in any
foreign jurisdiction. If Sunset Partners holds less than fifty percent
(50%) of the shares of Series C Preferred Stock it holds on the effective
date of this Restated Shareholders' Agreement, then each Shareholder agrees
to vote its shares for the election of two (2) representatives of Sunset
Partners. If Sunset Partners holds less than twenty-five (25%) of the
shares of Series C Preferred Stock it holds on the effective date of this
Restated Shareholders' Agreement, then each Shareholder agrees to vote its
shares for the election of one (1) representative of Sunset Partners. With
respect to Sunset Partners, the provisions of this Section 2 shall
terminate when Sunset Partners holds less than ten percent (10%) of the
shares of Series C Preferred Stock it holds on the effective date of this
Restated Shareholders' Agreement. With respect to Pomona Capital, the
provisions of this Section 2 shall terminate when Pomona Capital and its
affiliated partnerships hold less than fifty percent (50%) of the shares of
Series C Preferred Stock such entities hold on the effective date of this
Restated Shareholders' Agreement. With respect to ELI-II, the provisions
of this Section 2 shall terminate upon the termination of ELI-II's right to
elect a member of the Company's Board of Directors pursuant to the Series D
Rights Agreement."
8. The New Series D Purchasers shall be deemed "Rights Holders" for
purposes of Section 3 of the Shareholders' Agreement.
9. Section 3.3(e) and 3.3(f) are hereby deleted, and Section 3.3 is
hereby amended to include the following subsections to Section 3.3:
"(e) securities issued to dealers, trade vendors, sales
representatives, equipment lessors, commercial lenders (or their
guarantors) or joint venturers of the Company on terms approved by the
Board of Directors;
(f) securities issued to holders of the Company's Senior
Secured Notes due 2000 in consideration of such holder's amendment or
waiver at the Company's request of provisions of the Note Agreement dated
August 15, 1995; and
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(g) securities issued to effect any stock split or stock dividend
by the Company."
10. The New Series D Purchasers shall be deemed "Remaining Holders" for
purposes of Section 4 of the Shareholders' Agreement.
11. Section 10.8 of the Shareholders Agreement is hereby restated to read
in its entirety as follows:
"10.8 Entire Agreement; Amendment and Waiver. This Restated
--------------------------------------
Shareholders' Agreement and the other documents delivered pursuant hereto
constitute the full and entire understanding and agreement between the
parties with regard to the subject matters hereof and thereof. Except as
provided in Section 1.12, any term of this Restated Shareholders' Agreement
may be amended and the observance of any term hereof may be waived (either
prospectively or retroactively and either generally or in a particular
instance) only with the written consent of more than seventy-five percent
(75%) in interest of the Holders and the written consent of the Company.
Any amendment or waiver effected in accordance with this Section 10.8 shall
be binding upon each Holder and the Company. In addition, the Company may
waive performance of any obligation owing to it, as to some or all of the
Holders, or agree to accept alternatives to such performance, without
obtaining the consent of any Holder."
12. Each of the parties hereto acknowledges that the Company may sell and
issue additional shares of the Series D Preferred subsequent to the date hereof
and prior to May 31, 1996. Each of the parties hereto agrees that each such
purchaser shall become a party to this First Amendment and the Shareholders'
Agreement without further amendment hereof or thereof, and each such purchaser
shall be deemed a New Series D Purchaser for all purposes hereunder upon
execution of a counterpart signature page to this First Amendment. The Company
shall amend Schedule A attached hereto to reflect the addition of such
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subsequent New Series D Purchasers and shall deliver a copy of such revised
Schedule A to each party hereto. In no event shall the number of outstanding
- ----------
shares of Series D Preferred exceed 3,142,858 without amendment of the Company's
Amended and Restated Articles of Incorporation authorizing such additional
shares of Series D Preferred.
13. Except as expressly set forth in this First Amendment, the
Shareholders' Agreement shall continue in full force and effect in accordance
with its terms.
14. This First Amendment may be executed in one or more counterparts, each
of which shall be deemed an original, but all of which together shall constitute
one and the same instrument. This Amendment shall be governed by and construed
and enforced in accordance with the laws of the State of California as applied
to agreements between California residents entered into and to be performed
entirely within California.
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IN WITNESS WHEREOF, the parties hereto have executed this First Amendment
of Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By: /s/ James A. Barth
----------------------------------
Name: James A. Barth
--------------------------------
Title: Executive Vice President & CFO
-------------------------------
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By: /s/ Frank J. Pados, Jr.
-------------------------------
Name: Frank J. Pados, Jr.
-----------------------------
Title: Executive Vice President
----------------------------
U.S. GROWTH FUND PARTNERS C.V.
By: /s/ Roland A Van der Meer
-------------------------------
Name: Roland A Van der Meer
-----------------------------
Title: General Partner
----------------------------
J.E. CAPITAL PARTNERS,
a California Limited Partnership
By: /s/ Jarold A. Evans
-------------------------------
Jarold A. Evans, General Partner
/s/ W. Patrick McDowell
----------------------------------
W. Patrick McDowell
"SHAREHOLDER/HOLDER" ----------------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
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"NEW SERIES D PURCHASERS" ROTHSCHILD, INC.
By: /s/ Peter A. Fried
-------------------------------
Name: Peter A. Fried
-----------------------------
Title: Secretary
----------------------------
/s/ Kenneth B Hamlet
----------------------------------
Kenneth B. Hamlet
/s/ James A. Barth
----------------------------------
James A. Barth
WS INVESTMENT COMPANY '96A
By: /s/ Thomas C. DeFillips
-------------------------------
Name: Thomas C. DeFillips
-----------------------------
Title: General Partner
----------------------------
/s/ Thomas C. DeFiliips
----------------------------------
Thomas C. DeFilipps
[SUPPLEMENTAL SIGNATURE PAGE TO SERIES D INVESTORS RIGHTS AGREEMENT]
[Third Closing]
-7-
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" AIA CAPITAL INVESTMENT CO,. LTD.
By: /s/ Thomas Tang
--------------------------------
Name: /s/ Thomas Tang
------------------------------
Title: Director
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" /s/ Koya Aoi
-----------------------------------
KOYA AOI
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" ____________________________________
ALLAN ASHMEAD
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" ASIA PACIFIC GROWTH FUND, L.P.
By: ASIA PACIFIC GROWTH FUND, L.P.
By: H & Q PACIFIC, G.P.
GENERAL PARTNERS OF ASIA
PACIFIC GROWTH FUND, L.P.
By: H & Q PACIFIC, LTD.
GENERAL PARTNERS OF
H & Q ASIA PACIFIC, G.P.
By: /s/ Ta-Lin Hsu
------------------------------
TA-LIN HSU
CHAIRMAN
H & Q ASIA PACIFIC, LTD.
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" BANCORP HAWAII SMALL BUSINESS
INVESTMENT COMPANY, INC.
By: /s/ Robert W. Paris
---------------------------------
Title: President
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" ____________________________________
CORNELIUS BOND
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" CLARION CAPITAL CORPORATION
By: /s/ M/M
---------------------------------
Title: Vice President
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
_____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" COMSAT VIDEO ENTERPRISES, INC.
By:__________________________________
Title:_______________________________
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" /s/ Robert Creager
------------------------------------
ROBERT CREAGER
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" CSK VENTURE CAPITAL CO., LTD. AS
INVESTMENT MANAGER FOR CSK-1(A)
INVESTMENT FUND
By: /s/ Chikayasu Ito
---------------------------------
Title: Senior Managing Director
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" CSK VENTURE CAPITAL CO., LTD. AS
INVESTMENT MANAGER FOR CSK-1(B)
INVESTMENT FUND
By: /s/ Chikayasu Ito
---------------------------------
Name: Chikayasu Ito
-----------------------------
Title: Senior Managing Director
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" DUNWOODIE FAMILY TRUST
By: /s/ Duane Dunwoodie
---------------------------------
Title: Trustee
----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" FESTIVAL COMPANY, INC.
By: /s/ Jansen Wiraatmaja
---------------------------------
Title: Director
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" FREIDENRICH FAMILY TRUST
By: /s/ John Freidenrich
---------------------------------
Title: Trustee
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" HAKMAN CAPITAL CORPORATION
By: /s/ Paul Hakman
---------------------------------
Title: President
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" /s/ Peter Huang
------------------------------------
PETER HUANG
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" H & Q PPV INVESTORS, L.P.
By: /s/ Jackie Berterretcne
---------------------------------
Title: Attorney-in-fact
----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" ____________________________________
ERIC HASS
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" /s/ Joseph Hrouda
------------------------------------
JOSEPH S. HROUDA
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" J.F. SHEA CO., INC.
By: /s/ Edmund Shea
---------------------------------
Title: Vice President
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" /s/ Willard L. Kauffman
------------------------------------
WILLARD L. KAUFFMAN
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" THE WALTER LOEWENSTERN, JR.
SEPARATE PROPERTY TRUST U/D/T
DATED 2/2/90
By: /s/ Walter Loewenstern, Jr.
---------------------------------
Title: Trustee
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" NIKKO CAPITAL CO., LTD
By: /s/ Masanobu Okabe
---------------------------------
Title: General Manager
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" N.C. NO. 2, INVESTMENT PARTNERSHIP
By: /s/ Masanobu Okabe
---------------------------------
Title: General Manager
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" O'ROURKE INVESTMENT COMPANY
By:_________________________________
Title:______________________________
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" OSCCO III, L.P.
By: /s/ Steven Halprin
----------------------------------
Title: General Partner
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" POMONA CAPITAL, L.P.
By: /s/ Michael D. Granoff
---------------------------------
Title: Partner
----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" ROGERS FAMILY TRUST
By: /s/ Roy L. Rogers
---------------------------------
Title: Trustee
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" R & W VENTURES II
By: /s/ Roy L. Rogers
---------------------------------
Title: General Partner
-----------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" SKANDIA LIFE INSURANCE
COMPANY, LTD. (PUBL.)
By: authorized signature
---------------------------------
Title: Head of Equities
------------------------------
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" SOF VENTURE CAPITAL, L.P.
By: /s/ Michael D. Granoff
---------------------------------
Title: _____________________________
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
IN WITNESS WHEREOF, the parties hereto have executed this First Amendment of
Amended and Restated Shareholders Agreement on the date first above written.
"COMPANY" MAGINET CORPORATION
By:_________________________________
Name:_______________________________
Title:______________________________
"NEW SERIES D PURCHASERS" EQUITY-LINKED INVESTORS - II
By:_________________________________
Name:_______________________________
Title:______________________________
U.S. GROWTH FUND PARTNERS C.V.
By:_________________________________
Name:_______________________________
Title:______________________________
REVOCABLE TRUST OF JAROLD A. EVANS
By:_________________________________
Name:_______________________________
Title:______________________________
____________________________________
W. Patrick McDowell
"SHAREHOLDER/RIGHTS HOLDER" SP VENTURE CAPITAL
By: /s/ Michael D. Granoff
---------------------------------
Title: _____________________________
[SIGNATURE PAGE TO FIRST AMENDMENT TO SHAREHOLDERS AGREEMENT]
Schedule A
----------
NEW SERIES D PURCHASERS
-----------------------
EQUITY-LINKED INVESTORS - II
U.S. GROWTH FUND PARTNERS C.V.
J.E. CAPTITAL PARTNERS,
a California Limited Partnership
W. Patrick McDowell
FESTIVAL COMPANY, INC.
ROTHSCHILD, INC.
Kenneth B. Hamlet
Peter Huang
James A. Barth
WS INVESTMENT COMPANY '96A
Thomas C. DeFilipps
Schedule B
----------
RESTATED EXHIBIT A
SHAREHOLDERS
------------
AIA Capital Investment Co., Ltd.
Koya Aoi
Allan Ashmead
Asia Pacific Growth Fund, L.P.
Bancorp Hawaii Small Business
Investment Company, Inc.
James A. Barth
Cornelius Bond
Clarion Capital Corporation
Comsat Video Enterprises, Inc.
Robert Creager
CSK Venture Capital Co., Ltd. As Investment
Manager for CSK-1(a) Investment Fund
CSK Venture Capital Co., Ltd. As Investment
Manager for CSK-1(b) Investment Fund
Thomas C. DeFilipps
Dunwoodie Family Trust
Equity-Linked Investors II
Festival Company, Inc.
Freidenrich Family Trust
Hakman Capital Corporation
H & Q PPV Investors, L.P.
Kenneth B. Hamlet
Eric Hass
Joseph S. Hrouda
Peter Huang
J.E. Capital Partners, a California Limited Partnership
J.F. Shea Co., Inc.
Willard L. Kauffman
The Walter Loewenstern, Jr. Separate Property Trust
U/D/T dated 2/12/90
W. Patrick McDowell
Nikko Capital Co., Ltd
N.C. No. 2, Investment Partnership
O'Rourke Investment Company
OSCCO III, L.P.
Pomona Capital, L.P.
Rogers Family Trust
R & W Ventures II
Rothschild, Inc.
SKANDIA Life Insurance Company, Ltd. (Publ.)
SOF Venture Capital, L.P.
SP Venture Capital
SP Offshore Venture Capital, L.P.
Sunset Partners, L.P.
Sunset Partners II, L.P.
SHAREHOLDERS
------------
Sunset Partners III, L.P.
Unterberg Harris Interactive Media Limited
Partnership C.V.
U.S. Growth Partners C.V.
Gunnar Wetlesen
Michael W. Wilsey
WS Investments 94A
WS Investment Company '96A
ADDITIONAL RIGHTS HOLDERS
-------------------------
The Mutual Life Insurance Company of New York
Namtor BVC L.P.
New York Life Insurance Company
Silicon Valley Bank
Waslic Company II
Hambrecht & Quist Guaranty Finance L.P.