EXHIBIT 4.7
TAG-ALONG SALES AGREEMENT
Dated as of June 16, 2000
among
DAYTON SUPERIOR CORPORATION,
ODYSSEY INVESTMENT PARTNERS FUND, LP
and
DEUTSCHE BANK SECURITIES INC.
and
XXXXXXX LYNCH, PIERCE, XXXXXX & XXXXX INCORPORATED,
as Initial Purchasers
TABLE OF CONTENTS
Page
----
1. Definitions ................................................... 1
2. Transfers...................................................... 4
2.1. Generally............................................ 4
2.2. Tag-Along Rights..................................... 4
2.3. Drag-Along Rights .................................... 6
3. Representations, Warranties and Agreements of Odyssey.......... 7
4. Miscellaneous.................................................. 7
4.1. Remedies ............................................. 7
4.2. Amendments and Waivers................................ 8
4.3. Notices............................................... 8
4.4. Successors and Assigns ............................... 8
4.5. Counterparts ......................................... 9
4.6. Governing Law; Submission to Jurisdiction ............ 9
4.7. Severability.......................................... 9
4.8. Headings.............................................. 9
4.9. Attorneys' Fees ...................................... 9
4.10. Entire Agreement ..................................... 9
4.11. Termination .......................................... 9
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This TAG-ALONG SALES AGREEMENT (this "Agreement") is dated as
of June 16, 2000, by and among DAYTON SUPERIOR CORPORATION, an Ohio corporation
(the "Company"), ODYSSEY INVESTMENT PARTNERS FUND, LP ("Odyssey"), DEUTSCHE BANK
SECURITIES INC. ("Deutsche Bank") and XXXXXXX LYNCH, PIERCE, XXXXXX & XXXXX
INCORPORATED ("Xxxxxxx Xxxxx" and, together with Deutsche Bank, the "Initial
Purchasers").
This Agreement is entered into in connection with the Purchase
Agreement, dated as of June 9, 2000, by and among the Company, the guarantors
named therein and the Initial Purchasers (the "Purchase Agreement"), relating to
the sale by the Company to the Initial Purchasers of an aggregate of 170,000
Units, each Unit consisting of $1,000 principal amount of 13% Senior
Subordinated Notes due 2009 (the "Notes") and one Warrant (collectively, the
"Warrants") to purchase 0.68986 of a common share, no par value, of the Company.
The Warrants are being issued pursuant to a warrant agreement (the "Warrant
Agreement"), to be dated as of June 16, 2000, between the Company and United
States Trust Company of New York, as warrant agent. In addition, the holders of
Warrants and Warrant Shares will be entitled to the benefits of the registration
rights agreement (the "Warrant Shares Registration Rights Agreement") between
the Company and the Initial Purchasers.
In order to induce the Initial Purchasers to enter into the
Purchase Agreement, the Company and Odyssey have agreed to provide to the
Holders (as defined herein) certain rights set forth in this Agreement with
respect to sales by the Principals (as defined herein) of common shares of the
Company prior to the date of an Initial Public Offering (as defined herein). The
execution of this Agreement is a condition to the obligations of the Initial
Purchasers to purchase the Units under the Purchase Agreement.
In consideration of the foregoing, the parties hereto agree as
follows:
1. Definitions.
As used in this Agreement, the following terms shall have the
following meanings: "Advice" shall have the meaning ascribed to that term in the
last paragraph of Section 4.
"Affiliate" of any Person shall mean any Person (i) which
directly or indirectly controls or is controlled by, or is under direct or
indirect common control with, the referent Person, (ii) which beneficially owns
or holds 10% or more of the voting stock of the referent Person or (iii) of
which 10% or more of the voting stock (or, in the case of a Person which is not
a corporation, 10% or more of the equity interest) is beneficially owned or held
by the referent Person. For purposes of this definition, control of a Person
shall mean the power to direct the management and policies of such Person,
directly or indirectly, whether through the ownership of voting securities, by
contract or otherwise.
"Agreement" shall have the meaning ascribed to that term in
the preamble hereto.
"Business Day" shall mean a day that is not a Legal Holiday.
"Capital Stock" shall mean, with respect to any Person, any
and all shares, interests, participations, rights in or other equivalents
(however designated and whether voting and/or non-voting) of capital stock,
partnership interests or any other participation, right or other interest in the
nature of an equity interest in such Person or any option, warrant or other
security convertible into or exercisable or exchangeable for any of the
foregoing.
"Common Shares" shall mean the common shares, no par value, of
the Company.
"Company" shall have the meaning ascribed to that term in the
preamble hereto and shall also include the Company's successors.
"Covered Equity" shall have the meaning ascribed to that term
in Section 2.1
"Custody Agreement" shall have the meaning ascribed to that
term in Section 2.2(e).
"Drag-Along Holder" shall have the meaning ascribed to that
term in Section 2.3(a).
"Drag-Along Notice" shall have the meaning ascribed to that
term in Section 2.3(b).
"Drag-Along Purchaser" shall have the meaning ascribed to that
term in Section 2.3(b).
"Drag-Along Right" shall have the meaning ascribed to that
term in Section 2.3(a).
"Drag-Along Sale" shall have the meaning ascribed to that term
in Section 2.3(a).
"Exchange Act" shall mean the Securities Exchange Act of 1934,
as amended from time to time.
"Excluded Transfer" shall mean (1) a Transfer by any Principal
to another Principal (a "transferee") so long as such transferee agrees to be
bound by the transferor's obligations under this Tag-Along Sales Agreement, (2)
a Transfer pursuant to a Public Offering or pursuant to Rule 144, (3) a
Piggy-Back Registration (as defined in the Warrant Shares Registration Rights
Agreement) and (4) any Transfer in a single transaction or series of related
transactions of Common Shares which do not exceed 5% (calculated on a fully
diluted basis) of the Common Shares then outstanding.
"Holder" shall mean the Initial Purchasers, for so long as
each Initial Purchaser owns any Warrants or Warrant Shares, and each of their
successors, assigns and direct and indirect transferees who become registered
owners of Warrants or Warrant Shares.
"Initial Public Offering" shall mean the first time a
registration statement filed under the Securities Act respecting an offering,
whether primary or secondary, of capital shares of the Company (or securities
convertible into, or exchangeable or exercisable for, capital shares of the
Company or rights to acquire such capital shares or securities, other than the
Warrants) which is underwritten on a firmly committed or best efforts basis is
declared effective and the securities so registered are issued and sold.
"Initial Purchasers" shall have the meaning ascribed to that
term in the preamble hereto. "IPO Date" shall have the meaning ascribed to that
term in Section 2.2(a).
"Legal Holiday" shall mean a Saturday, a Sunday or a day on
which banking institutions in New York, New York are required by law, regulation
or executive order to remain closed.
"Notes" shall have the meaning ascribed to that term in the
preamble hereto.
"Odyssey" shall have the meaning ascribed to that term in the
preamble hereto.
"Participating Holder" shall have the meaning ascribed to that
term in Section 2.2(b).
"Person" shall mean any individual, corporation, partnership,
joint venture, incorporated or unincorporated association, joint-stock company,
trust, unincorporated organization, government or any agency or political
subdivision thereof or other entity of any kind.
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"Principal" shall mean (a) any of Odyssey, its Affiliates and
any general or limited partner of Odyssey or (b) an Affiliate of any of the
entities described in clause (a).
"Proposed Purchaser" shall have the meaning ascribed to that
term in Section 2.2(a).
"Prospectus" shall mean the prospectus included in any
Registration Statement (including, without limitation, a prospectus that
discloses information previously omitted from a prospectus filed as part of an
effective registration statement in reliance upon Rule 430A promulgated pursuant
to the Securities Act), as amended or supplemented by any prospectus supplement;
with respect to the terms of the offering of any portion of the securities
covered by such Registration Statement, and all other amendments and supplements
to any such prospectus, including post-effective amendments, and all material
incorporated by reference or deemed to be incorporated by reference, if any, in
such prospectus.
"Public Offering" shall mean an underwritten primary public
offering of capital shares of the Company pursuant, to an effective registration
statement under the Securities Act.
"Purchase Agreement" shall have the meaning ascribed to that
term in the preamble hereto.
"Registration Statement" shall mean any registration statement
of the Company which covers any of the Covered Equity pursuant to the provisions
of this Agreement and all amendments and supplements to any such Registration
Statement, including post-effective amendments, in each case including the
Prospectus contained therein, all exhibits thereto and all material incorporated
by reference therein.
"Requisite Shares" shall mean a number of Warrants and Warrant
Shares equivalent to a majority of the Warrant Shares held in the aggregate by
all Holders at the time of any determination (with any Warrant being deemed to
be equal to the number of Warrant Shares for which such Warrant is then
exercisable (without giving effect to any cashless exercise)).
"Rule 144" shall mean Rule 144 under the Securities Act, as
such Rule may be amended from time to time, or any similar rule (other than
Rule 144A) or regulation hereafter adopted by the SEC providing for offers and
sales of securities made in compliance therewith resulting in offers and sales
by subsequent holders that are not affiliates of an issuer of such securities
being free of the registration and prospectus delivery requirements of the
Securities Act.
"SEC" shall mean the Securities and Exchange Commission.
"Securities Act" shall mean the Securities Act of 1933, as
amended from time to time.
"Shareholder" shall mean, collectively, each Holder and each
Principal owning Common Shares or other securities convertible or exercisable or
exchangeable into Common Shares.
"Tag-Along Notice" shall have the meaning ascribed to that
term in Section 2.2(b).
"Tag-Along Right" shall have the meaning ascribed to that term
in Section 2.2(a).
"Transfer" shall have the meaning ascribed to that term in
Section 2.2(a).
"Transfer Notice" shall have the meaning ascribed to that term
in Section 2.2(b).
"Warrant Agreement" shall have the meaning ascribed to that
term in the preamble hereto.
"Warrant Shares" shall mean the Common Shares issued and
issuable upon exercise of the Warrants and any other securities issued or
issuable with respect to the Warrants by way of stock dividends, stock splits or
in connection with a combination of shares, recapitalization, merger,
consolidation or other reorganization or otherwise.
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"Warrant Shares Registration Rights Agreement" shall have the
meaning ascribed to that term in the preamble hereto.
"Warrants" shall have the meaning ascribed to that term in the
preamble hereto.
2. Transfers.
2.1. Generally. All Warrants and Warrant Shares (the "Covered
Equity") at any time and from time to time outstanding shall be held subject to
the conditions and restrictions set forth in this Section 2. All Common Shares
now or hereafter held by the Principals shall be held subject to the conditions
and restrictions set forth in this Section 2. Each Holder of Covered Equity and
the Principals by executing this Agreement or by accepting a certificate
representing Common Shares or other indicia of ownership therefor from the
Company agree with the Company and with each other Shareholder to such
conditions and restrictions.
2.2. Tag-Along Rights. (a) In the event of any proposed direct
or indirect sale or other disposition for cash or other consideration
(collectively, a "Transfer") of Common Shares (whether now or hereafter issued)
to any Person or Persons (such other Person or Persons being hereinafter
referred to as the "Proposed Purchaser") by any Principal or Principals in any
transaction or a series of related transactions (other than an Excluded
Transfer) at any time prior to the date of the consummation of an Initial Public
Offering (the "IPO Date"), each of the Holders of the Warrants and the Warrant
Shares shall have the right to require the Proposed Purchaser to purchase from
each of them up to a number of Warrant Shares determined by multiplying the
total number of Warrant Shares then held by such Holder (including Warrant
Shares then obtainable upon exercise of Warrants) times a fraction, the
numerator of which is the total number of Common Shares that the Proposed
Purchaser is seeking to acquire in the proposed Transfer and the denominator of
which is the total number of Common Shares then held by the Principals and all
Persons entitled to participate in the proposed Transfer (whether pursuant to
this Agreement or otherwise) measured on a fully diluted basis giving effect to
the exercise or conversion of all outstanding warrants, options or convertible
stock entitled to participate.
(b) Each Principal and the Company shall notify, or cause to
be notified, each Holder of Covered Equity in writing (a "Transfer Notice") of
each such proposed Transfer at least 30 days prior to the date thereof. Such
notice shall set forth: (i) the name and address of the Proposed Purchaser and
the number of Common Shares and other securities, if any, proposed to be
transferred, (ii) the proposed amount of consideration and terms and conditions
of payment offered by such Proposed Purchaser (if the proposed consideration is
not cash, the Transfer Notice shall describe the terms of the proposed
consideration) and (iii) that either the Proposed Purchaser has been informed of
the Tag-Along Right and has agreed to purchase Warrant Shares in accordance with
the terms hereof or that a Principal or Principals will make such purchase. The
Tag-Along Right may be exercised by any Holder of Covered Equity (each a
"Participating Holder") by delivery of a written notice to the applicable
Principal and the Company (a "Tag-Along Notice"), within the five Business Days
following such Holder's receipt of the Transfer Notice, indicating its election
to exercise the Tag-Along Right. The Tag-Along Notice shall state the amount of
Warrant Shares that such Holder proposes to include in such Transfer to the
Proposed Purchaser determined in accordance with paragraph (a) above. Failure by
any Holder to provide a Tag-Along Notice within the five Business Day notice
period shall be deemed to constitute an election by such Holder not to exercise
its Tag-Along Right. The closing with respect to any sale to a Proposed
Purchaser pursuant to this Section 2 shall be held at the time and place
specified in the Transfer Notice but in any event within 60 days of the date
such Transfer Notice is given; provided that if through the exercise of
commercially reasonable efforts the Company is unable to cause such transaction
to close within 60 days, such period may be extended for such reasonable period
of time as may be necessary to close such transaction. Consummation of the sale
of Common Shares by any Principal and the Company to a Proposed Purchaser shall
be conditioned upon consummation of the sale by each Participating Holder that
provided a timely Tag-Along Notice to such Proposed Purchaser (or the Principal)
of the Warrant Shares entitled to be transferred as described above, if any.
(c) In the event that the Proposed Purchaser does not purchase
any Warrant Shares entitled to be transferred as described above on the same
terms and conditions as purchased from the applicable Principal, then the
applicable Principal shall purchase such Warrant Shares on like terms if the
Transfer occurs.
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(d) Any Warrant Shares purchased from the Participating
Holders pursuant to this Section 2.2 shall be paid for in the same type of
consideration and at the same price per Common Share and upon the same terms and
conditions as those applicable to a proposed Transfer of Common Shares by the
Principals (regardless of the class of common shares to be sold). If the
Warrants and Warrant Shares to be purchased include securities or property other
than common shares, the price to be paid for such securities or property shall
be the same price per share or other denomination paid by the proposed purchaser
for like securities purchased from the Principals or, if like securities are not
purchased from the Principals, the fair market value of such securities
determined by an internationally recognized investment banking firm selected by
the Company. The Principal shall arrange for payment directly by the Proposed
Purchaser to each Participating Holder, upon delivery of the certificate or
certificates representing the Warrant Shares duly endorsed for transfer,
together with such other documents as the Proposed Purchaser may reasonably
request.
(e) Upon delivering a Tag-Along Notice, each Participating
Holder will, if requested by the applicable Principal, execute and deliver a
custody agreement and power of attorney (a "Custody Agreement") in form and
substance reasonably satisfactory to such Principal with respect to the Warrant
Shares to be included in the Proposed Transfer pursuant to this Agreement. The
Custody Agreement will provide that the Participating Holder will deliver to and
deposit in custody with the custodian and attorney-in-fact named therein (which
may be an employee or officer of one of the Principals) a certificate or
certificates representing the applicable Warrant Shares or Warrants with the
form of notice of exercise duly executed (which exercise notice may be
conditioned on the consummation of the Proposed Transfer), in each case duly
endorsed in blank by the registered owner or owners thereof or accompanied by
duly executed stock powers in blank, and will irrevocably appoint said custodian
and attorney-in-fact as such Participating Holder's agent and attorney-in-fact
with full power and authority to act under a custody agreement and power of
attorney on behalf of such Participating Holder with respect to the matters
specified herein.
(f) Each Participating Holder agrees that he or she will
execute such other agreements as the applicable Principal or the Proposed
Purchaser may reasonably request in connection with the consummation of the
Proposed Transfer and the transactions contemplated thereby.
(g) If at the end of 60 days following the date on which a
Transfer Notice was given (as such period may be extended pursuant to the
provisions of Section 2.2(b)), the sale of Common Shares by the Principals and
the sale of the Covered Equity entitled to be transferred as provided above have
not been completed in accordance with the terms of the Proposed Purchaser's
offer, all certificates representing such Covered Equity shall be returned to
the Participating Holders, and all the restrictions on transfer contained in
this Agreement with respect to Common Shares owned by the Principals shall
remain in effect.
2.3. Drag-Along Rights. (a) If at any time prior to the IPO
Date, the Board of Directors of the Company and the holders of a majority of the
capital shares of the Company entitled to vote thereon approve a sale, lease,
transfer, conveyance or other disposition (including, without limitation, any
merger or consolidation), in a single transaction or series of related
transactions, of all or substantially all of the equity interests or assets of
the Company and its subsidiaries taken as a whole to a Person other than a
Principal, the Company may require (the "Drag-Along Right") the Holders of
Covered Equity (each a "Drag-Along Holder") to participate in such transaction
in accordance with this Section 2.3 and to vote in favor of such transaction, if
applicable (any transaction involving the exercise of the Drag-Along Right shall
be referred to as a 'Drag-Along Sale").
(b) The Company shall notify, or cause to be notified, each
Holder of Covered Equity in writing (a "Drag-Along Notice") of the proposed date
of the Drag-Along Sale at least 30 days prior to the date thereof, setting forth
the proposed amount of consideration and terms and conditions of payment to be
offered in such Drag-Along Sale, and the other material terms thereof. Each
Drag-Along Holder hereby agrees to sell to the intended purchaser (the
"Drag-Along Purchaser") all Covered Equity held by such Drag-Along Holder and to
vote in favor of such transaction, if applicable.
(c) On the date of the Drag-Along Sale, each Drag-Along Holder
shall deliver a certificate or certificates for its Covered Equity, duly
endorsed for transfer with signatures guaranteed, to the Drag-Along Purchaser in
the manner and at the address indicated in the Drag-Along Notice against
delivery of the purchase price for such Covered Equity.
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(d) Any Covered Equity purchased from the Drag-Along Holders
pursuant to this Section 2.3 shall be paid for in the same type of consideration
and at the same price per share and upon the same terms and conditions
applicable to holders of the same type of securities included in the Drag-Along
Sale or, if like securities are not purchased from other holders, the Fair
Market Value of such securities.
(e) Each Drag-Along Holder will, if requested by the Company,
execute and deliver a Custody Agreement in form and substance reasonably
satisfactory to the Company with respect to the Covered Equity to be included in
the Drag-Along Sale pursuant to this Agreement. The Custody Agreement will
provide that the Drag-Along Holder will deliver to and deposit in custody with
the custodian and attorney-in-fact named therein (which may be an employee or
officer of one of the Principals) a certificate or certificates representing the
applicable Covered Equity (duly endorsed in blank by the registered owner or
owners thereof or accompanied by duly executed stock powers in blank) and
irrevocably appoint said custodian and attorney-in-fact as such Drag-Along
Holder's agent and attorney-in-fact with full power and authority to act under a
custody agreement and power of attorney on behalf of such Drag-Along Holder with
respect to the matters specified therein relating to the proposed Drag-Along
Sale.
(f) Each Drag-Along Holder agrees that he or she will execute
such other agreements as the Company or the Drag-Along Purchaser may reasonably
request in connection with the consummation of the Drag-Along Sale and the
transactions contemplated thereby.
3. Representations, Warranties and Agreements of Odyssey.
Odyssey represents, warrants to and agrees with the Holders of
the Warrants and Warrant Shares as of the date of this Agreement as follows:
(a) Due Authorization. The execution, delivery and performance
of this Agreement by Odyssey has been duly authorized by all requisite
action.
(b) Binding Obligation. This Agreement has been duly executed
and delivered by Odyssey and constitutes the legal, valid and binding
obligation of Odyssey, except as such enforceability may be limited by
bankruptcy, insolvency, reorganization, fraudulent conveyance,
moratorium or similar laws affecting the enforcement of creditors'
rights generally and by general principles of equity and the discretion
of the court before which any proceedings therefor may be brought.
(c) No Violation. The execution, delivery and performance of
this Agreement, and the consummation of the transactions contemplated
herein, by Odyssey does not violate any provision of law, any order of
any court or other agency of government or any organizational document
of Odyssey.
(d) Government Action. No action has been taken and no
statute, rule or regulation or order has been enacted, no injunction,
restraining order or order of any nature has been issued by a federal
or state court of competent jurisdiction and no action, suit or
proceeding is pending against or affecting or threatened against the
Company before any court or arbitrator or any governmental body, agency
or official which, if adversely determined, would in any manner draw
into question the validity of this Agreement.
(e) No Other Agreements. Odyssey is not party to any agreement
which conflicts with or is inconsistent with this Agreement.
4. Miscellaneous.
4.1. Remedies. In the event of a breach by the Company, the
Principals or by a Holder of any of its obligations under this Agreement, each
Holder, the Principals and the Company, in addition to being entitled to
exercise all rights granted by law, including recovery of damages, will be
entitled to specific performance of its rights under this Agreement. The
Company, the Principals and each Holder agree that monetary damages would not be
adequate compensation for any loss incurred by reason of a breach of any of the
provisions of this Agreement and each hereby further agrees that, in the event
of any action for specific performance in respect of such breach, it shall waive
the defense that a remedy at law would be adequate.
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4.2. Amendments and Waivers. The provisions of this Agreement,
including the provisions of this sentence, may not be amended, modified or
supplemented, and waivers or consents to departures from the provisions hereof
may not be given, otherwise than by a written instrument signed by the Company
and Odyssey, with the prior written consent of the Holders of not less than the
Requisite Shares; provided, however, that, for the purposes of this Agreement,
Warrants and Warrant Shares that are owned, directly or indirectly, by the
Company or the Principals are not deemed outstanding.
4.3. Notices. All notices and other communications provided
for herein shall be made in writing and shall be mailed, delivered or copied and
confirmed in writing.
(a) if to the Company, as provided in the Purchase Agreement,
(b) if to Odyssey,
Odyssey Investment Partners Fund, LP
000 Xxxx Xxxxxx
Xxxx Tower, 38th Floor
New York, New York 10017
Attention: Xxxxxxx X. Xxxxxxx
Tel: (000) 000-0000
Fax: (000) 000-0000
with a copy to:
Xxxxxx & Xxxxxxx
000 Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Attention: Xxxx X. Xxxxxxxxx, Esq.
Tel: (000) 000-0000
Fax: (000) 000-0000
(c) if to the Initial Purchasers, as provided in the Purchase
Agreement, or
(d) if to any other Person who is then the registered Holder
of Warrants or Warrant Shares, to the address of such Holder as it
appears in the register therefor of the Company.
All such notices and communications shall be deemed to have
been duly given: when delivered by hand, if personally delivered; one Business
Day after being timely delivered to a next-day air courier; five Business Days
after being deposited in the mail, postage prepaid, if mailed; and when receipt
is acknowledged by telecopier machine, if telecopied.
4.4. Successors and Assigns. This Agreement shall inure to the
benefit of and be binding upon the successors and permitted assigns of each of
the parties and shall inure to the benefit of each Holder. Notwithstanding the
foregoing, no successor or assignee of the Company or any Principal shall have
any of the rights granted under this Agreement until such Person shall
acknowledge its rights and obligations hereunder by a signed written statement
of such Person's acceptance of such rights and obligations.
4.5. Counterparts. This Agreement may be executed in various
counterparts that together shall constitute one and the same Agreement.
4.6. Governing Law; Submission to Jurisdiction. This Agreement
shall be construed in accordance with the internal laws of the State of New York
(without giving effect to any provisions thereof relating to conflicts of law).
Each of the parties hereto agrees to submit to the jurisdiction of the courts of
the State of New York and the U.S. federal courts sitting in the City of New
York for the purposes of any suit, action or proceeding arising out of or
relating to this Agreement. Nothing herein shall affect the right to serve
process in any other manner permitted by law or shall limit the right of the
Holders to bring proceedings against the Company or any Principal in the courts
of any other jurisdiction.
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4.7. Severability. The remedies provided herein are cumulative
and not exclusive of any remedies provided by law. If any term, provision,
covenant or restriction of this Agreement is held by a court of competent
jurisdiction to be invalid, illegal, void or unenforceable, the remainder of the
terms, provisions, covenants and restrictions set forth herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated,
and the parties hereto shall use their reasonable efforts to find and employ an
alternative means to achieve the same or substantially the same result as that
contemplated by such term, provision, covenant or restriction. It is hereby
stipulated and declared to be the intention of the parties that they would have
executed the remaining terms, provisions, covenants and restrictions without
including any of such that may be hereafter declared invalid, illegal, void or
unenforceable.
4.8. Headings. The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the
meaning hereof. All references made in this Agreement to "Section" and
"paragraph" refer to such Section or paragraph of this Agreement, unless
expressly stated otherwise.
4.9. Attorneys' Fees. As between the parties to this
Agreement, in any action or proceeding brought to enforce any provision of this
Agreement, or where any provision hereof is validly asserted as a defense, the
successful party shall be entitled to recover reasonable attorneys' fees in
addition to its costs and expenses and any other available remedy.
4.10. Entire Agreement. This Agreement, together with the
Warrant Agreement and the Warrant Shares Registration Rights Agreement, is
intended by the parties as a final and exclusive statement of the agreement and
understanding of the parties hereto in respect of the subject matter contained
herein and therein and any and all prior oral or written agreements,
representations, or warranties, contracts, understandings, correspondence,
conversations and memoranda between the Holders, the Company and Odyssey, or
between or among any agents, representatives, parents, subsidiaries, affiliates,
predecessors in interest or successors in interest with respect to the subject
matter hereof and thereof are merged herein and replaced hereby.
4.11. Termination. This Agreement shall terminate upon the
consummation of an Initial Public Offering, except for Sections 4.6 and 4.9,
which shall survive termination hereof.
IN WITNESS WHEREOF, the parties have caused this Tag-Along
Sales Agreement to be duly executed as of the date first written above.
DAYTON SUPERIOR CORPORATION
By: /s/ Xxxx X. Xxxxxxxxxx
-----------------------------------
Name: Xxxx X. Xxxxxxxxxx
Title: President and CEO
ODYSSEY INVESTMENT PARTNERS FUND, LP
By: ODYSSEY CAPITAL PARTNERS, LLC,
its general partner
By: /s/ Xxxxxxx X. Xxxxxxx
-----------------------------------
Name: Xxxxxxx X. Xxxxxxx
Title: Managing Member
DEUTSCHE BANK SECURITIES INC.
By: /s/ Xxxxxx Xxxxx
-----------------------------------
Name: Xxxxxx Xxxxx
Title: Managing Director
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XXXXXXX LYNCH, PIERCE, XXXXXX & XXXXX
INCORPORATED
By: Xxxxxxxxxxx Bisosak
-----------------------------------
Name: Xxxxxxxxxxx Bisosak
Title: Managing Director
9