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Contract analysis / exhibit-g-rollover-agreement-pinnacle-form.docx
exhibit-g-rollover-agreement-pinnacle-form.docx
High · 3
Medium · 12
Standard · 2
Section 1.1 — Definitions
Section 1.1 — Definitions As used in this Agreement, the following terms shall have the meanings set forth below: "Agreement" has the meaning set forth in the preamble. "Bankruptcy and Equity Exception" means the qualification that the enforceability of an obligation is subject to applicable bankruptcy, insolvency, reorganization, moratorium, fraudulent conveyance, fraudulent transfer, and similar laws affecting cred
Section 1.2 — Interpretation
Medium
⚑ Forum / governing law
Section 1.2 — Interpretation (a) The headings and captions contained in this Agreement are for reference purposes only and shall not affect in any way the meaning or interpretation of this Agreement. (b) Whenever the words "include," "includes," or "including" are used in this Agreement, they shall be deemed to be followed by the words "without limitation." (c) The words "hereof," "herein," "hereunder," and words of
ARTICLE II — ROLLOVER CONTRIBUTION
ARTICLE II — ROLLOVER CONTRIBUTION
Section 2.1 — Contribution of Rollover Shares
Medium
⚑ Assignment / subcontracting
Section 2.1 — Contribution of Rollover Shares (a) At or immediately prior to the Effective Time, the Rollover Participant shall contribute, assign, transfer, convey, and deliver to the Buyer (or its designated affiliate, as designated by the Buyer in writing to the Rollover Participant no later than five (5) business days prior to the Closing Date) all of the Rollover Participant's right, title, and interest in and t
Section 2.2 — Issuance of Equity Interests
Section 2.2 — Issuance of Equity Interests (a) In consideration for the contribution of the Rollover Shares pursuant to Section 2.1, the Buyer (or its designated affiliate) shall issue to the Rollover Participant, at the Effective Time, Equity Interests in the Surviving Entity (or a designated parent holding entity thereof) having a fair market value equal to the product of (i) the number of Rollover Shares contribut
Section 2.3 — Tax Treatment
Medium
⚑ Forum / governing law
Section 2.3 — Tax Treatment (a) The Parties intend that the contribution of the Rollover Shares by the Rollover Participant to the Buyer (or its designated affiliate) in exchange for the Equity Interests shall be treated as a tax-free contribution under Section 351 of the Code, or, to the extent applicable, as part of a reorganization qualifying under Section 368(a) of the Code (the "Intended Tax Treatment"). The Par
Section 2.4 — Cashed-Out Shares
Section 2.4 — Cashed-Out Shares (a) The Cashed-Out Shares (being the Total Shares less the Rollover Shares, i.e., [●] shares of Company common stock) shall be treated in all respects in the same manner as shares of Company common stock held by all other stockholders of the Company under the Merger Agreement. At the Effective Time, each Cashed-Out Share shall be converted into the right to receive the Per Share Merger
Section 2.5 — Withholding
Medium
⚑ Forum / governing law
Section 2.5 — Withholding (a) The Buyer, Merger Sub, the Surviving Entity, the Exchange Agent, and their respective agents and affiliates shall be entitled to deduct and withhold from any amounts otherwise payable to the Rollover Participant in respect of the Cashed-Out Shares (or any other amounts payable pursuant to this Agreement or the Merger Agreement) such amounts as are required to be deducted and withheld und
ARTICLE III — REPRESENTATIONS AND WARRANTIES OF THE ROLLOVER PARTICIPANT
ARTICLE III — REPRESENTATIONS AND WARRANTIES OF THE ROLLOVER PARTICIPANT The Rollover Participant hereby represents and warrants to the Buyer and Merger Sub as follows:
Section 3.1 — Organization and Authority
Section 3.1 — Organization and Authority The Rollover Participant is a [Insert entity type, e.g., limited liability company] duly organized, validly existing, and in good standing under the laws of [Insert jurisdiction of formation]. The Rollover Participant has all requisite [corporate/limited liability company/partnership] power and authority to execute, deliver, and perform this Agreement and to consummate the tra
Section 3.2 — Authorization; Binding Agreement
Section 3.2 — Authorization; Binding Agreement The execution, delivery, and performance of this Agreement by the Rollover Participant and the consummation by the Rollover Participant of the transactions contemplated hereby have been duly and validly authorized by all necessary [corporate/limited liability company/partnership] action on the part of the Rollover Participant, and no other proceedings on the part of the
Section 3.3 — Ownership of Shares
Medium
⚑ Assignment / subcontracting
Section 3.3 — Ownership of Shares (a) The Rollover Participant is the sole beneficial and record owner of the Total Shares, consisting of [●] shares of Company common stock. The Total Shares constitute all of the shares of capital stock of the Company (and all other equity interests in the Company, including options, warrants, convertible securities, and other rights to acquire capital stock) owned, directly or indir
Section 3.4 — No Conflicts
Medium
⚑ Forum / governing law
Section 3.4 — No Conflicts The execution and delivery of this Agreement by the Rollover Participant and the consummation by the Rollover Participant of the transactions contemplated hereby do not and will not: (a) violate, conflict with, or result in a breach of any provision of the certificate of formation, operating agreement, certificate of incorporation, bylaws, partnership agreement, or other organizational docu
Section 3.5 — Accredited Investor Status
Section 3.5 — Accredited Investor Status The Rollover Participant is an "accredited investor" as such term is defined in Rule 501(a) of Regulation D promulgated under the Securities Act. The Rollover Participant is able to bear the economic risk of holding the Equity Interests for an indefinite period and can afford a complete loss of its investment in the Equity Interests.
Section 3.6 — Investment Intent; Restricted Securities
Section 3.6 — Investment Intent; Restricted Securities (a) The Rollover Participant is acquiring the Equity Interests for investment purposes only, for its own account, and not with a view toward, or for sale in connection with, any distribution thereof in violation of the Securities Act or any applicable state securities laws. The Rollover Participant does not have any present intention or arrangement to sell, trans
Section 3.7 — Sophistication and Due Diligence
Section 3.7 — Sophistication and Due Diligence (a) The Rollover Participant has such knowledge and experience in financial and business matters that it is capable of evaluating the merits and risks of an investment in the Equity Interests and of making an informed investment decision with respect thereto. (b) The Rollover Participant has been afforded the opportunity to ask questions of, and receive answers from, dul
Section 3.8 — No Broker
Standard
⚑ Commercial term
Section 3.8 — No Broker No broker, finder, financial advisor, or investment banker is entitled to any brokerage, finder's, financial advisory, or other similar fee or commission from the Buyer, the Surviving Entity, or any of their respective affiliates in connection with the transactions contemplated by this Agreement based upon arrangements made by or on behalf of the Rollover Participant.
Section 3.9 — Litigation
Medium
⚑ Forum / governing law
Section 3.9 — Litigation There is no action, suit, claim, investigation, arbitration, or proceeding pending or, to the knowledge of the Rollover Participant, threatened in writing against the Rollover Participant before any court, arbitrator, or governmental authority that would reasonably be expected to impair, prevent, or materially delay the ability of the Rollover Participant to perform its obligations under this
ARTICLE IV — REPRESENTATIONS AND WARRANTIES OF THE BUYER
ARTICLE IV — REPRESENTATIONS AND WARRANTIES OF THE BUYER The Buyer hereby represents and warrants to the Rollover Participant as follows:
Section 4.1 — Organization and Authority
Section 4.1 — Organization and Authority The Buyer is a [Insert entity type, e.g., limited partnership] duly organized, validly existing, and in good standing under the laws of [Insert jurisdiction of formation]. The Buyer has all requisite [partnership/limited liability company] power and authority to execute, deliver, and perform this Agreement and to consummate the transactions contemplated hereby, including the i
Section 4.2 — Authorization; Binding Agreement
Section 4.2 — Authorization; Binding Agreement The execution, delivery, and performance of this Agreement by the Buyer and the consummation by the Buyer of the transactions contemplated hereby have been duly and validly authorized by all necessary action on the part of the Buyer (including, to the extent required, by its general partner or managing member), and no other proceedings on the part of the Buyer are necess
Section 4.3 — No Conflicts
Medium
⚑ Forum / governing law
Section 4.3 — No Conflicts The execution and delivery of this Agreement by the Buyer and the consummation by the Buyer of the transactions contemplated hereby do not and will not: (a) violate, conflict with, or result in a breach of any provision of the certificate of limited partnership, limited partnership agreement, certificate of formation, operating agreement, or other organizational documents of the Buyer; (b)
Section 4.4 — Valid Issuance
Section 4.4 — Valid Issuance The Equity Interests to be issued to the Rollover Participant in accordance with this Agreement, when so issued and delivered in accordance with the terms and for the consideration set forth in this Agreement, will be duly authorized, validly issued, fully paid (to the extent applicable), and non-assessable (to the extent such concept is applicable to the type of Equity Interests being is
Section 5.1 — Restriction on Transfer
Medium
⚑ Forum / governing law
Section 5.1 — Restriction on Transfer (a) From the date hereof until the earlier of (i) the Effective Time and (ii) the termination of this Agreement in accordance with Article VII, the Rollover Participant shall not, directly or indirectly, (A) sell, transfer, tender, pledge, assign, hypothecate, encumber, gift, or otherwise dispose of (including by merger, consolidation, operation of law, or otherwise), or enter in
Section 5.2 — Voting Agreement Cross-Reference
Section 5.2 — Voting Agreement Cross-Reference The Rollover Participant acknowledges and agrees that it has entered into the Voting/Support Agreement concurrently herewith (attached as Exhibit H to the Merger Agreement), and that the Rollover Participant's obligations under the Voting/Support Agreement — including, without limitation, the obligation to vote (or cause to be voted) all of the Total Shares in favor of t
Section 5.3 — Further Assurances
Section 5.3 — Further Assurances Each Party agrees to execute and deliver, or cause to be executed and delivered, such additional documents, instruments, conveyances, and assurances, and to take, or cause to be taken, such further actions, in each case as may be reasonably necessary or desirable to carry out and give effect to the provisions of this Agreement and the transactions contemplated hereby, including the co
Section 5.4 — Cooperation on Tax Matters
Section 5.4 — Cooperation on Tax Matters (a) The Rollover Participant and the Buyer shall cooperate in good faith with respect to the Intended Tax Treatment described in Section 2.3, including (i) the timely exchange of information reasonably necessary or useful for the preparation and filing of any Tax Returns or the conduct of any Tax audit, examination, or proceeding, (ii) the filing of any Tax Returns, elections,
Section 5.5 — Notification of Certain Events
Section 5.5 — Notification of Certain Events The Rollover Participant shall promptly notify the Buyer in writing of (a) any fact, event, circumstance, or development of which the Rollover Participant becomes aware that would cause, or would reasonably be expected to cause, any representation or warranty of the Rollover Participant contained in this Agreement to be untrue or inaccurate in any material respect at or pr
Section 5.6 — Investor Agreement
High
⚑ Indemnity / guarantee obligation
Section 5.6 — Investor Agreement (a) The Rollover Participant agrees to negotiate in good faith and to execute and deliver, on or prior to the Closing Date, the Investor Agreement, which shall set forth the terms and conditions governing the Equity Interests and the relationship among the equity holders of the Surviving Entity (or its designated parent holding entity) following the Closing. The Investor Agreement sha
ARTICLE VI — CONDITIONS TO THE ROLLOVER CONTRIBUTION
ARTICLE VI — CONDITIONS TO THE ROLLOVER CONTRIBUTION
Section 6.1 — Conditions to the Obligations of the Rollover Participant
Section 6.1 — Conditions to the Obligations of the Rollover Participant The obligation of the Rollover Participant to consummate the contribution of the Rollover Shares pursuant to Section 2.1 shall be subject to the satisfaction (or waiver in writing by the Rollover Participant) of each of the following conditions on or prior to the Closing Date: (a) Merger Conditions. All conditions to the obligations of the Buyer
Section 6.2 — Conditions to the Obligations of the Buyer
Section 6.2 — Conditions to the Obligations of the Buyer The obligation of the Buyer to consummate the issuance of the Equity Interests to the Rollover Participant pursuant to Section 2.2 shall be subject to the satisfaction (or waiver in writing by the Buyer) of each of the following conditions on or prior to the Closing Date: (a) Merger Conditions. All conditions to the closing of the Merger set forth in the Merger
Section 7.1 — Termination
Section 7.1 — Termination This Agreement shall automatically terminate, and thereupon be of no further force or effect, upon the earliest to occur of: (a) the mutual written agreement of the Buyer and the Rollover Participant to terminate this Agreement; (b) the valid termination of the Merger Agreement in accordance with its terms (including pursuant to Article [●] thereof); or (c) the Effective Time (at which point
Section 7.2 — Effect of Termination
Section 7.2 — Effect of Termination (a) In the event of termination of this Agreement pursuant to Section 7.1(a) or Section 7.1(b), this Agreement shall become null and void and of no further force or effect, and no Party shall have any liability or obligation to any other Party arising out of or in connection with this Agreement, except that: (i) the provisions of this Article VII and Article VIII (Miscellaneous) sh
Section 8.1 — Notices
Section 8.1 — Notices All notices, requests, demands, claims, consents, waivers, and other communications under this Agreement shall be in writing and shall be deemed to have been duly given or made (a) when delivered by hand (with written confirmation of receipt), (b) when sent by email (with confirmation of transmission and no automated error or "bounce-back" message received), (c) one (1) business day after being
Section 8.2 — Entire Agreement
Section 8.2 — Entire Agreement This Agreement, together with the Merger Agreement, the Voting/Support Agreement, the Investor Agreement (when executed and delivered), and any schedules and exhibits hereto and thereto, constitutes the entire agreement of the Parties with respect to the subject matter hereof and thereof and supersedes all prior and contemporaneous negotiations, discussions, agreements, understandings,
Section 8.3 — Amendments and Waivers
Section 8.3 — Amendments and Waivers (a) This Agreement may not be amended, modified, restated, or supplemented in any respect except by a written instrument signed by each of the Parties hereto. Any purported amendment, modification, restatement, or supplement that does not comply with this Section 8.3(a) shall be null and void and of no force or effect. (b) No waiver by any Party of any provision of this Agreement
Section 8.4 — Assignment
Medium
⚑ Assignment / subcontracting
Section 8.4 — Assignment Neither this Agreement nor any right, interest, or obligation hereunder may be assigned, delegated, or transferred by any Party without the prior written consent of each of the other Parties hereto, and any purported assignment, delegation, or transfer without such consent shall be null and void and of no force or effect; provided, however, that the Buyer may assign its rights and obligations
Section 8.5 — Binding Effect; Third-Party Beneficiaries
Section 8.5 — Binding Effect; Third-Party Beneficiaries (a) This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective heirs, executors, administrators, successors, and permitted assigns. (b) Nothing in this Agreement, express or implied, is intended to or shall confer upon any person other than the Parties hereto any rights, benefits, or remedies of any nature whatsoever
Section 8.6 — Governing Law
Medium
⚑ Forum / governing law
Section 8.6 — Governing Law This Agreement and any claim, controversy, or dispute arising out of or related to this Agreement or the transactions contemplated hereby (whether based on contract, tort, statute, or any other theory) shall be governed by and construed in accordance with the laws of the State of [Insert governing law jurisdiction, e.g., Delaware], without giving effect to any choice or conflict of law pro
Section 8.7 — Jurisdiction; Venue
High
⚑ Non-compete / exclusivity restraint
Section 8.7 — Jurisdiction; Venue (a) Each Party hereby irrevocably and unconditionally submits, for itself and its property, to the exclusive jurisdiction of the Court of Chancery of the State of [Insert jurisdiction] (or, if the Court of Chancery of the State of [Insert jurisdiction] declines to accept jurisdiction over a particular matter, the Superior Court of the State of [Insert jurisdiction], or, if subject ma
Section 8.8 — Waiver of Jury Trial
Medium
⚑ Forum / governing law
Section 8.8 — Waiver of Jury Trial EACH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY AND ALL RIGHT TO A TRIAL BY JURY IN ANY ACTION, SUIT, CLAIM, OR PROCEEDING (WHETHER BASED ON CONTRACT, TORT, OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OF THE TRANSACTIONS CONTEMPLATED HEREBY OR THE ACTIONS OF ANY PARTY IN THE NEGOTIATION, ADMINISTR
Section 8.9 — Specific Performance
Section 8.9 — Specific Performance (a) The Parties acknowledge and agree that irreparable damage would occur, and that the Parties would not have any adequate remedy at law, in the event that any provision of this Agreement were not performed in accordance with its terms or were otherwise breached, and that monetary damages would be inadequate to compensate the non-breaching Party for such breach. (b) Accordingly, ea
Section 8.10 — Severability
Section 8.10 — Severability If any provision of this Agreement is held to be invalid, illegal, or unenforceable in any respect by a court of competent jurisdiction, such invalidity, illegality, or unenforceability shall not affect any other provision of this Agreement, and this Agreement shall be construed as if such invalid, illegal, or unenforceable provision had never been contained herein; provided, however, that
Section 8.11 — Counterparts
Section 8.11 — Counterparts This Agreement may be executed in one or more counterparts, and by the different Parties in separate counterparts, each of which when so executed shall be deemed to be an original, and all of which taken together shall constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by facsimile or by electronic means, including by portable
Section 8.12 — Expenses
Standard
⚑ Commercial term
Section 8.12 — Expenses Except as otherwise expressly provided herein or in the Merger Agreement, each Party shall bear its own costs and expenses (including fees and disbursements of counsel, accountants, financial advisors, and other professionals and consultants) incurred in connection with the negotiation, execution, delivery, and performance of this Agreement and the transactions contemplated hereby.
Section 8.13 — Recitals
High
⚑ Indemnity / guarantee obligation
Section 8.13 — Recitals The recitals set forth in the preamble of this Agreement are hereby incorporated into and made a part of this Agreement as if fully set forth herein, and the Parties acknowledge the accuracy and completeness of such recitals. [Remainder of Page Intentionally Left Blank — Signature Pages Follow] SIGNATURE PAGES TO ROLLOVER AGREEMENT IN WITNESS WHEREOF, the Parties have caused this Agreement to