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Title: |
Stockholder Agreement |
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Entities: |
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Date: |
2000 |
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Size: |
Preview shows 4KB of 15KB total |
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Price: |
$41 |
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ID: |
#1239442 |
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STOCKHOLDER AGREEMENT
AGREEMENT, dated as of May 21, 2000 among Vignette Corporation, a Delaware
corporation ("Buyer"), and the holders of the shares of common stock, par value
$.001 per share, of OnDisplay, Inc., a Delaware corporation (the "Company"),
listed on the signature pages hereof (each a "Stockholder").
WHEREAS, in order to induce Buyer and Wheels Acquisition Corp. to enter
into an Agreement and Plan of Merger, dated as of the date hereof (the "Merger
Agreement"), with Company, Buyer has requested each Stockholder, and each
Stockholder has agreed, to enter into this Agreement with respect to the number
of shares of common stock of the Company set forth next to such Stockholder's
name on the signature pages hereto (the "Shares").
NOW, THEREFORE, the parties hereto agree as follows:
ARTICLE 1
GRANT OF PROXY; VOTING AGREEMENT; AGREEMENT TO TENDER
SECTION 1.01. Voting Agreement. Each Stockholder hereby agrees to vote all
Shares that such Stockholder is entitled to vote at the time of any vote to
approve and adopt the Merger Agreement, the Merger and all agreements related
to the Merger and any actions related thereto at any meeting of the
stockholders of the Company, and at any adjournment thereof, at which such
Merger Agreement and other related agreements (or any amended version thereof),
or such other actions, are submitted for the consideration and vote of the
stockholders of the Company. Each Stockholder hereby agrees that it will not
vote any Shares in favor of the approval of any (i) Acquisition Proposal, (ii)
reorganization, recapitalization, liquidation or winding up of the Company or
any other extraordinary transaction involving the Company, (iii) corporate
action the consummation of which would frustrate the purposes, or prevent or
delay the consummation, of the Offer, the Merger or any other transactions
contemplated by the Merger Agreement or (iv) other matter relating to, or in
connection with, any of the foregoing matters.
SECTION 1.02. Irrevocable Proxy. Each Stockholder hereby revokes any and
all previous proxies granted with respect to the Shares. By entering into this
Agreement, each Stockholder hereby grants a proxy appointing Buyer as such
Stockholder's attorney-in-fact and proxy, with full power of substitution, for
and in such Stockholder's name, to vote, express, consent or dissent, or
otherwise to
<PAGE>
utilize such voting power in the manner contemplated by Section 1.01 above as
Buyer or its proxy or substitute shall, in Buyer's sole discretion, deem proper
with respect to the Shares (including the right to sign its name (as
stockholder) to any consent, certificate or other document relating to the
Company that the law of the State of Delaware may permit or require.) The proxy
granted by each Stockholder pursuant to this Article 1 is irrevocable and is
granted in consideration of Buyer entering into this Agreement and the Merger
Agreement and incurring certain related fees and expenses. The proxy granted by
each Stockholder shall be revoked only upon termination of this Agreement in
accordance with its terms.
SECTION 1.03. Agreement to Tender. Each Stockholder hereby agrees to
tender, upon the request of Buyer (and agrees that it will not withdraw),
pursuant to and in accordance with the terms of the Offer, the Shares. Within
five business days after the commencement of the Offer, each Stockholder shall
(x) deliver to the depositary designated in the Offer (i) a letter of
transmittal with respect to the Shares complying with the terms of the Offer,
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