Letter Agreement Regarding Board Nomination Rights for Series E Preferred Share Purchase – Color Kinetics and Graham & Liz Allison
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This letter agreement is between Color Kinetics Incorporated and Graham & Liz Allison. In exchange for the Allisons' purchase of $1,000,000 in Series E Preferred shares, Color Kinetics agrees to use its best efforts to secure the election of a mutually agreed-upon nominee, chosen by the Allisons, to the company's Board of Directors after the Series E financing closes. The agreement outlines the company's commitment to board representation for the investors.
EX-10.21 6 b48986a5exv10w21.txt EX-10.21 LETTER AGREEMENT DATED 12/14/01 EXHIBIT 10.21 [Color Kinetics Letterhead] December 14, 2001 Graham & Liz Allison 69 Pinehurst Road Belmont, MA 02478 Dear Graham & Liz, In connection with your purchase of $1,000,000.00 in Series E Preferred shares of Color Kinetics Incorporated (the "Company"), the Company agrees to use its best efforts after the closing of the Series E Financing to secure the election of one person nominated by you and mutually agreed upon by the Company to the Company's Board of Directors. We look forward to continuing our successful relationship with you. Sincerely, /s/ George G. Mueller George G. Mueller Chairman & CEO Color Kinetics Incorporated 10 Milk Street, Suite 1100 Boston, MA 02108 ***@***
