Seventh Amendment to First Amended and Restated Investors Rights Agreement, dated September 30, 2019, among nCino, Inc. and certain holders of its capital stock

Contract Categories: Business Finance - Stock Agreements
EX-4.9 12 d828449dex49.htm EX-4.9 EX-4.9

Exhibit 4.9

SEVENTH AMENDMENT

TO

FIRST AMENDED AND RESTATED

INVESTORS’ RIGHTS AGREEMENT

THIS SEVENTH AMENDMENT TO FIRST AMENDED AND RESTATED INVESTORS’ RIGHTS AGREEMENT (this “Amendment”) is made and effective as of the 30th day of September, 2019 (the “Effective Date”), by and among nCino, Inc., a Delaware corporation (the “Company”) and the Investors (as defined in the Agreement, as defined below) party hereto (collectively with the Company, the “Parties”).

RECITALS

WHEREAS, the Company and certain of the Investors had previously entered into that certain First Amended and Restated Investors’ Rights Agreement, dated as of February 12, 2015, as amended by that certain First Amendment to First Amended and Restated Investors’ Rights Agreement, dated May 25, 2016, that certain Second Amendment to First Amended and Restated Investors’ Rights Agreement, dated November 23, 2016, that certain Third Amendment to First Amended and Restated Investors’ Rights Agreement, dated July 31, 2017, that certain Fourth Amendment to First Amended and Restated Investors’ Rights Agreement, dated January 16, 2018, that certain Fifth Amendment to First Amended and Restated Investors’ Rights Agreement, dated July 12, 2018, and that certain Sixth Amendment to First Amended and Restated Investors’ Rights Agreement, dated September 16, 2019 (the “Agreement”).

WHEREAS, the Parties wish to (1) expand the definition of “Registrable Securities”, as defined in the Agreement, to include shares of Common Stock (as defined in the Agreement) purchased pursuant to that certain Non-Voting Common Stock Purchase Agreement dated as of the Effective Date, by and between the Company and Salesforce Ventures LLC, and (2) allow for additional Investors.

NOW, THEREFORE, in consideration of the foregoing, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Company and the Investors hereby agree as follows:

AGREEMENT

1. Definitions. All capitalized terms used but not otherwise defined herein shall have the meanings given to such terms in the Agreement.

2. Amendment.

 

  a.

The Parties hereby agree to amend the Agreement by amending and restating Section 1.22 in its entirety as follows:

“1.22 “Registrable Securities” means (i) any Common Stock issued to, or purchased by, the Investors pursuant to (A) the Purchase Agreement, (B) that certain Purchase and Sale Agreement dated as of February 12, 2015 by and among the Insight Investors, SunTrust Banks, Inc. (or any affiliates thereof), the Company and Live Oak Bancshares, Inc., (C) that certain Common Stock Purchase Agreement dated as of May 25, 2016, by and among the Company and the Purchasers listed on Exhibit A thereto (the “2016 Primary Purchase Agreement”), (D) that certain Purchase and Sale Agreement dated as of May 25, 2016, by and among the Company and the stockholders and Purchaser listed on Exhibit A thereto (the “2016 Secondary Purchase Agreement”), (E) that certain Common Stock


Purchase Agreement dated as of January 28, 2014 by and between the Company and the Investors listed on Exhibit A thereto, (F) that certain Offer to Purchase and Letter of Transmittal distributed to certain stockholders of the Company by the Insight Investors on or about November 23, 2016 (the “2016 Offer to Purchase”), (G) that certain Common Stock Purchase Agreement, dated as of July 31, 2017, by and among the Company and the Investors listed on Exhibit A thereto (the “2017 Common Stock Purchase Agreement”), (H) that certain Common Stock Purchase Agreement, dated as of January 16, 2018, by and among the Company and the Investors listed on Exhibit A thereto (the “2018 Common Stock Purchase Agreement”), (I) that certain Purchase and Sale Agreement dated as of January 16, 2018, by and among Salesforce Ventures LLC and the selling stockholder set forth therein (the “2018 Secondary Purchase Agreement”); (J) that certain Offer to Purchase and Letter of Transmittal distributed to certain stockholders of the Company by certain investment advisory clients of Wellington Management Company LLP, certain investment funds affiliated with Bessemer Venture Partners IX, L.P., and certain Insight Investors on or about June 7, 2018 (the “2018 Offer to Purchase”); (K) that certain Common Stock Purchase Agreement, dated as of September 16, 2019, by and among the Company and the Investors listed on Exhibit A thereto (the “2019 Common Stock Purchase Agreement”), and (L) that certain Non-Voting Common Stock Purchase Agreement dated as of September 30, 2019, by and between the Company and Salesforce Ventures LLC (the “2019 Non-Voting Common Stock Purchase Agreement”) and (ii) any Common Stock issued as (or issuable upon the conversion or exercise of any warrant, right, or other security that is issued as) a dividend or other distribution with respect to, or in exchange for or in replacement of, the shares referenced in clause (i) above; excluding in all cases, however, any Registrable Securities sold by a Person in a transaction in which the applicable rights under this Agreement are not assigned pursuant to Subsection 6.1, and excluding for purposes of Section 2 any shares for which registration rights have terminated pursuant to Subsection 2.13 of this Agreement.”

 

  b.

The Parties hereby agree to amend the Agreement by amending and restating Section 6.13 in its entirety as follows:

“6.13 Additional Investors. Notwithstanding anything to the contrary contained herein, any purchaser of shares of Common Stock on or after the date hereof pursuant to the Purchase Agreement, the 2016 Primary Purchase Agreement, the 2016 Secondary Purchase Agreement, the 2016 Offer to Purchase, the 2017 Common Stock Purchase Agreement, the 2018 Common Stock Purchase Agreement, the 2018 Secondary Purchase Agreement, the 2018 Offer to Purchase, the 2019 Common Stock Purchase Agreement or the 2019 Non-Voting Common Stock Purchase Agreement may become a party to this Agreement by executing and delivering an additional counterpart signature page to this Agreement, and thereafter shall be deemed an “Investor” for all purposes hereunder. No action or consent by the Investors shall be required for such joinder to this Agreement by such additional Investor, so long as such additional Investor has agreed in writing to be bound by all of the obligations as an “Investor” hereunder. Immediately thereafter, Schedule A to this Agreement will be amended to list the new Investors hereunder.”

 

  c.

The Parties hereby agree to amend the Agreement by amending and restating Schedule A to the Agreement in its entirety with the Schedule A attached hereto.


3. Effect of Amendment. Except as amended and/or modified by this Amendment, the Agreement is hereby ratified and confirmed and all other terms of the Agreement are and shall remain in full force and effect, unaltered and unchanged by this Amendment. In the event of any conflict between the provisions of this Amendment and the provisions of the Agreement, the provisions of this Amendment shall govern and control.

4. Counterparts. This Amendment (i) may be executed in any number of counterparts with the same effect as if all of the parties had signed the same document and (ii) may be executed by facsimile or PDF signatures. All counterparts shall be construed together and shall constitute one agreement.

[Signature Page Follows]


IN WITNESS WHEREOF, the Parties have executed this Seventh Amendment to First Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

NCINO, INC.
By:  

 

/s/ Pierre Naudé

Name:   Pierre Naudé
Title:   Chief Executive Officer


IN WITNESS WHEREOF, the Parties have executed this Seventh Amendment to First Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

INVESTORS:         

INSIGHT VENTURE PARTNERS IX, L.P.

   INSIGHT VENTURE PARTNERS IX (CO-INVESTORS), L.P.
By:    Insight Venture Associates IX, L.P.       By:    Insight Venture Associates IX, L.P.
Its:    General Partner       Its:    General Partner
           
By:    Insight Venture Associates IX, Ltd.       By:    Insight Venture Associates IX, Ltd.
Its:    General Partner       Its:    General Partner
By:   

/s/ Blair Flicker

      By:   

/s/ Blair Flicker

Name:    Blair Flicker       Name:    Blair Flicker
Title:    Authorized Officer       Title:    Authorized Officer
           
INSIGHT VENTURE PARTNERS (CAYMAN) IX, L.P.       INSIGHT VENTURE PARTNERS (DELAWARE) IX, L.P.
By:    Insight Venture Associates IX, L.P.       By:    Insight Venture Associates IX, L.P.
Its:    General Partner       Its:    General Partner
By:    Insight Venture Associates IX, Ltd.       By:    Insight Venture Associates IX, Ltd.
Its:    General Partner       Its:    General Partner
By:   

/s/ Blair Flicker

      By:   

/s/ Blair Flicker

Name:    Blair Flicker       Name:    Blair Flicker
Title:    Authorized Officer       Title:    Authorized Officer


IN WITNESS WHEREOF, the Parties have executed this Seventh Amendment to First Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

INVESTORS:         
INSIGHT VENTURE PARTNERS GROWTH-BUYOUT COINVESTMENT FUND, L.P.       INSIGHT VENTURE PARTNERS GROWTH-BUYOUT COINVESTMENT FUND (B), L.P.
By:    Insight Venture Associates Growth-Buyout Coinvestment, L.P.       By:    Insight Venture Associates Growth-Buyout Coinvestment, L.P.
Its:    General Partner       Its:    General Partner
By:    Insight Venture Associates Growth-Buyout Coinvestment, Ltd.       By:    Insight Venture Associates Growth-Buyout Coinvestment, Ltd.
Its:    General Partner       Its:    General Partner
By:   

/s/ Blair Flicker

      By:   

/s/ Blair Flicker

Name:    Blair Flicker       Name:    Blair Flicker
Title:    Authorized Officer       Title:    Authorized Officer
INSIGHT VENTURE PARTNERS GROWTH-BUYOUT COINVESTMENT FUND COINVESTMENT FUND (CAYMAN), L.P.       INSIGHT VENTURE PARTNERS GROWTH-BUYOUT COINVESTMENT FUND (DELAWARE), L.P.
By:    Insight Venture Associates Growth-Buyout Coinvestment, L.P.       By:    Insight Venture Associates Growth-Buyout Coinvestment, L.P.
Its:    General Partner       Its:    General Partner
By:    Insight Venture Associates Growth-Buyout Coinvestment, Ltd.       By:    Insight Venture Associates Growth-Buyout Coinvestment, Ltd.
Its:    General Partner       Its:    General Partner
By:   

/s/ Blair Flicker

      By:   

/s/ Blair Flicker

Name:    Blair Flicker       Name:    Blair Flicker
Title:    Authorized Officer       Title:    Authorized Officer


IN WITNESS WHEREOF, the Parties have executed this Seventh Amendment to First Amended and Restated Investors’ Rights Agreement as of the date first written above.

 

INVESTORS:  
Ithan Creek Master Investors (Cayman) L.P.
By:   Wellington Management Company LLP,
as investment adviser
By:   /s/ Emily D. Babalas
Name:   Emily D. Babalas
Title:   Managing Director & Counsel
Wolf Creek Investors (Bermuda) L.P.
By:   Wellington Management Company LLP,
as investment adviser
By:   /s/ Emily D. Babalas
Name:   Emily D. Babalas
Title:   Managing Director & Counsel
Wolf Creek Partners, L.P.
By:   Wellington Management Company LLP,
as investment adviser
By:   /s/ Emily D. Babalas
Name:   Emily D. Babalas
Title:   Managing Director & Counsel
Bay Pond Investors (Bermuda) L.P.
By:   Wellington Management Company LLP,
as investment adviser
By:   /s/ Emily D. Babalas
Name:   Emily D. Babalas
Title:   Managing Director & Counsel
Bay Pond Partners, L.P.
By:   Wellington Management Company LLP,
as investment adviser
By:   /s/ Emily D. Babalas
Name:   Emily D. Babalas
Title:   Managing Director & Counsel


Hadley Harbor Master Investors (Cayman) II L.P.
By:   Wellington Management Company LLP,
as investment adviser
By:   /s/ Emily D. Babalas
Name:   Emily D. Babalas
Title:   Managing Director & Counsel


IN WITNESS WHEREOF, the Parties have executed this Seventh Amendment to First Amended and Restated Investors’ Rights Agreement as of the date first written above.

INVESTOR:

SALESFORCE VENTURES LLC

 

By:  

/s/ John Somorjai

Name:   John Somorjai
Title:   President

Address:

Salesforce Ventures LLC

Salesforce Tower, 415 Mission St, 3rd fl

San Francisco, CA 94105

Attn: John Somorjai, President


SCHEDULE A

Investors

 

Legal Entity Name and Address

Bessemer Venture Partners IX L.P.

c/o Bessemer Venture Partners

1865 Palmer Avenue

Suite 104

Larchmont, NY 10538

Tel. 914 ###-###-####

***@***

Bessemer Venture Partners IX Institutional L.P.

c/o Bessemer Venture Partners

1865 Palmer Avenue

Suite 104

Larchmont, NY 10538

Tel. 914 ###-###-####

***@***

Hadley Harbor Master Investors (Cayman) II L.P.

c/o Wellington Management Company LLP

280 Congress Street

Boston, Massachusetts 02210

Attn: Legal & Compliance Department

Facsimile Number: 617 ###-###-####

Email: ***@***

Ithan Creek Master Investors (Cayman) L.P.

c/o Wellington Management Company LLP

280 Congress Street

Boston, Massachusetts 02210

Attn: Legal & Compliance Department

Facsimile Number: 617 ###-###-####

Email: ***@***

Wolf Creek Investors (Bermuda) L.P.

c/o Wellington Management Company LLP

280 Congress Street

Boston, Massachusetts 02210

Attn: Legal & Compliance Department

Facsimile Number: 617 ###-###-####

Email: ***@***


Wolf Creek Partners, L.P.

c/o Wellington Management Company LLP

280 Congress Street

Boston, Massachusetts 02210

Attn: Legal & Compliance Department

Facsimile Number: 617 ###-###-####

Email: ***@***

Bay Pond Investors (Bermuda) L.P.

c/o Wellington Management Company LLP

280 Congress Street

Boston, Massachusetts 02210

Attn: Legal & Compliance Department

Facsimile Number: 617 ###-###-####

Email: ***@***

Bay Pond Partners, L.P.

c/o Wellington Management Company LLP

280 Congress Street

Boston, Massachusetts 02210

Attn: Legal & Compliance Department

Facsimile Number: 617 ###-###-####

Email: ***@***

Insight Venture Partners IX, L.P

c/o Insight Venture Partners

1114 Avenue of the Americas

36th Floor

New York, NY 10036

Attn: Blair Flicker

Tel. 212 ###-###-####

***@***

Insight Venture Partners (Cayman) IX, L.P.

c/o Insight Venture Partners

1114 Avenue of the Americas

36th Floor

New York, NY 10036

Attn: Blair Flicker

Tel. 212 ###-###-####

***@***

Insight Venture Partners IX (Co-Investors), L.P.

c/o Insight Venture Partners


1114 Avenue of the Americas

36th Floor

New York, NY 10036

Attn: Blair Flicker

Tel. 212 ###-###-####

***@***

 

Insight Venture Partners (Delaware) IX, L.P.

c/o Insight Venture Partners

1114 Avenue of the Americas

36th Floor

New York, NY 10036

Attn: Blair Flicker

Tel. 212 ###-###-####

***@***

Insight Venture Partners Growth-Buyout Coinvestment Fund, L.P.

c/o Insight Venture Partners

1114 Avenue of the Americas

36th Floor

New York, NY 10036

Attn: Blair Flicker

Tel. 212 ###-###-####

***@***

Insight Venture Partners Growth-Buyout Coinvestment Fund (B), L.P.

c/o Insight Venture Partners

1114 Avenue of the Americas

36th Floor

New York, NY 10036

Attn: Blair Flicker

Tel. 212 ###-###-####

***@***

Insight Venture Partners Growth-Buyout Coinvestment Fund (Cayman), L.P.

c/o Insight Venture Partners

1114 Avenue of the Americas

36th Floor

New York, NY 10036

Attn: Blair Flicker

Tel. 212 ###-###-####

***@***


Insight Venture Partners Growth-Buyout Coinvestment Fund (Delaware), L.P.

c/o Insight Venture Partners

1114 Avenue of the Americas

36th Floor

New York, NY 10036

Attn: Blair Flicker

Tel. 212 ###-###-####

***@***

SunTrust Banks, Inc.

303 Peachtree Street

29th Floor

Atlanta, GA 30308

Attn: Richard Blumberg

Tel. 404 ###-###-####

Fax. 404 ###-###-####

***@***

Salesforce Ventures LLC

Salesforce Tower, 415 Mission St, 3rd fl

San Francisco, CA 94105

Attn: John Somorjai, President

Accenture LLP

161 North Clark St.

Chicago, IL 60601

Attn: General Counsel

***@***

Regions Financial Corporation

Attn: David R. Turner, Jr.

Senior Executive Vice President and Chief Financial Officer

1900 5th Ave North, 30th Floor

Birmingham, AL 35203c

Tel. 205 ###-###-####

***@***

T. Rowe Price New Horizons Fund, Inc.

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***


T. Rowe Price New Horizons Trust

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

T. Rowe Price U.S. Equities Trust

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

MassMutual Select Funds - MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

T. Rowe Price Small-Cap Stock Fund, Inc.

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

T. Rowe Price Institutional Small-Cap Stock Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

T. Rowe Price Personal Strategy Income Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202


Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

T. Rowe Price Personal Strategy Balanced Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

T. Rowe Price Personal Strategy Growth Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

T. Rowe Price Moderate Allocation Portfolio

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

U.S. Small-Cap Stock Trust

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

VALIC Company I - Small Cap Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***


 

TD Mutual Funds - TD U.S. Small-Cap Equity Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

T. Rowe Price U.S. Small-Cap Core Equity Trust

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

Minnesota Life Insurance Company

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

Costco 401(k) Retirement Plan

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

MassMutual Select Funds - MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

T. Rowe Price Small-Cap Value Fund, Inc.

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

 


 

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

T. Rowe Price U.S. Small-Cap Value Equity Trust

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

T. Rowe Price U.S. Equities Trust

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

MassMutual Select Funds - MassMutual Select T. Rowe Price Small and Mid Cap Blend Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

T. Rowe Price Global Technology Fund, Inc.

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

TD Mutual Funds - TD Science & Technology Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 


 

UniSuper

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

T. Rowe Price Communications & Technology Fund, Inc.

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

TD Mutual Funds - TD Global Entertainment & Communications Fund

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

T. Rowe Price Financial Services Fund, Inc.

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

The Bunting Family III, LLC

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

The Bunting Family VI Socially Responsible LLC

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

 


 

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***

 

Jeffrey LLC

c/o T. Rowe Price Associates, Inc.

100 East Pratt Street

Baltimore, MD 21202

Attn.: Andrew Baek, Vice President

Phone: 410 ###-###-####

Email: ***@***