-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, ILQoHrMYnpQiHKQdsnHKQyuWdWSUI6VbMGaM3HL/i+YlPYUcYMIT8Ms7/KpplruH Hnc1xELy1EekYguQojWyeA== 0001193125-03-038046.txt : 20030814 0001193125-03-038046.hdr.sgml : 20030814 20030814164037 ACCESSION NUMBER: 0001193125-03-038046 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20030814 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: IMANAGE INC CENTRAL INDEX KEY: 0001093242 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 364043595 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: 1934 Act SEC FILE NUMBER: 005-57957 FILM NUMBER: 03848312 BUSINESS ADDRESS: STREET 1: 2121 SOUTH EL CAMINO REAL 4TH FLOOR CITY: SAN MATEO STATE: CA ZIP: 94403 BUSINESS PHONE: 6503561166 MAIL ADDRESS: STREET 1: 2121 SOUTH EL CAMINO REAL 4TH FLOOR CITY: SAN MATEO STATE: CA ZIP: 94403 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: INTERWOVEN INC CENTRAL INDEX KEY: 0001042431 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PREPACKAGED SOFTWARE [7372] IRS NUMBER: 943221352 STATE OF INCORPORATION: CA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: 1195 W FREMONT AVE STREET 2: STE 2000 CITY: SUNNYVALE STATE: CA ZIP: 94087 BUSINESS PHONE: 4087742000 MAIL ADDRESS: STREET 1: 1195 W FREMONT AVE STREET 2: STE 2000 CITY: SUNNYVALE STATE: CA ZIP: 94087 SC 13D 1 dsc13d.htm SCHEDULE 13D Prepared by R.R. Donnelley Financial -- Schedule 13D

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

SCHEDULE 13D

(Rule 13d-101)

 

Under the Securities Exchange Act of 1934

(Amendment No. __)*

 

IMANAGE, INC.


(Name of Issuer)

 

Common Stock, $0.001 par value


(Title of Class of Securities)

 

45245Y105


(CUSIP Number)

 

Horace L. Nash, Esq.

Fenwick & West LLP

Silicon Valley Center

801 California Street

Mountain View, CA 94041

Phone: 650-988-8500

 

Martin W. Brauns

Chief Executive Officer

Interwoven, Inc.

803 11th Avenue

Sunnyvale, CA 94089

(408) 774-2000

 

 


(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

 

August 6, 2003


(Date of Event Which Requires Filing of this Statement)

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box    ¨

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

 

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

 

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 


SCHEDULE 13D

 


   
CUSIP No. 45245y105       Page 1 of 6 Pages

   

 


1   

NAME OF REPORTING PERSON

S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON (ENTITIES ONLY)

 

Interwoven, Inc., I.R.S. Identification No. 77-0523543


2   

CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (See Instructions)

(a) q

(b) q

Not applicable.


3   

SEC USE ONLY

 

 


4   

SOURCE OF FUNDS (See Instructions)

 

OO


5   

CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e)

q

 


6   

CITIZENSHIP OR PLACE OF ORGANIZATION

 

State of Delaware


NUMBER

OF

SHARES

BENEFICIALLY

OWNED

BY

EACH

REPORTING

PERSON

WITH

   7   

SOLE VOTING POWER

 

None


   8   

SHARED VOTING POWER

 

5,212,177 shares of common stock1


   9   

SOLE DISPOSITIVE POWER

 

None


   10   

SHARED DISPOSITIVE POWER

 

None


11   

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

 

5,212,177 shares of common stock1


12   

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (See Instructions)

q

 


13   

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)

 

20.8% of common stock2


14   

TYPE OF REPORTING PERSON (See Instructions)

 

CO



1   This number of shares of common stock is subject to voting agreements (the “Voting Agreements”), dated August 6, 2003 between Interwoven and certain officers and directors of iManage, Inc., described in Items 4 and 5 below, which collectively provide that the Reporting Person shall have the power to vote or direct the vote of a number of shares of Issuer Common Stock (defined below) equal to 20.8% of the total outstanding shares of Issuer Common Stock with respect to matters specified in the Voting Agreements in connection with any meeting or action by written consent of the stockholders of Issuer. Of the 5,212,177 shares, 545,443 shares are issuable upon exercise of outstanding options which are either vested or will vest within 60 days of August 6, 2003. Reporting Person expressly disclaims beneficial ownership of any of the shares of Issuer Common Stock subject to the Voting Agreements.

 

2   Based on 24,488,428 shares of Issuer Common Stock outstanding as of August 6, 2003, as represented by the Issuer and the issuance of 545,443 shares of Issuer common stock upon the exercise of outstanding options which either are vested or will vest within 60 days of August 6, 2003 as identified in footnote 1 above.


     
       

Page 2 of 6 Pages

     

 

SCHEDULE 13D

 

Item 1.   Security and Issuer.

 

The class of equity securities to which this statement on Schedule 13D (this “Schedule 13D”) relates is common stock, par value $0.001 (the “Common Stock”) of iManage, Inc., a Delaware corporation (“iManage” or the “Issuer”). The principal executive offices of iManage are located at 950 Tower Lane, Foster City, California 94404.

 

Item 2.   Identity and Background.

 

(a)    The name of the corporation filing this statement is Interwoven, Inc., a Delaware corporation, hereinafter sometimes referred to as “Interwoven” or the “Reporting Person.”

 

(b)    The address of Interwoven’s principal office is 803 11th Avenue, Sunnyvale, California 94089.

 

(c)    Interwoven provides software products and services for enterprise content management, which helps customers automate the process of developing, managing and deploying content assets used in business applications.

 

(d)    Neither Interwoven nor, to Interwoven’s knowledge, any person named on Schedule A attached hereto during the last five years, has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

 

(e)    Neither Interwoven nor, to Interwoven’s knowledge, any person named on Schedule A attached hereto during the last five years, was a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, Federal or state securities laws or finding any violation with respect to such laws.

 

(f)    To Interwoven’s knowledge, each of the individuals identified on Schedule A attached hereto is a citizen of the United States.

 

Set forth on Schedule A is the name, and principal occupation or employment, and the name, principal business and address of any corporation or other organization in which such employment is conducted, of each of the directors and executive officers of Interwoven as of the date hereof.

 

Item 3.   Source and Amount of Funds or Other Consideration.

 

Pursuant to an Agreement and Plan of Merger, dated as of August 6, 2003, a copy of which is attached hereto as Exhibit 1 (the “Merger Agreement”), by and among Interwoven, iManage and Mahogany Acquisition Corporation, a Delaware corporation and a direct wholly-owned subsidiary of Interwoven (“Merger Sub”), and subject to the conditions set forth therein, it is contemplated that iManage will be merged with and into Merger Sub (the “Merger”). At the effective time of the Merger, iManage will cease to exist as a corporation and all of the business, assets, liabilities and obligations of iManage will be merged with and into Merger Sub, with Merger Sub continuing as the surviving corporation and a wholly-owned direct subsidiary of Interwoven.

 

As an inducement for Interwoven to enter into the Merger Agreement and in consideration thereof, certain officers and directors of iManage set forth on Schedule B (collectively, the “Stockholders”), entered into individual Voting Agreements with Interwoven, dated August 6, 2003, the form of which is attached hereto as Exhibit 2 (the “Voting Agreement”) and more fully described in Item 4, whereby each Stockholder agreed to vote all of the shares of iManage Common Stock beneficially owned by such Stockholder in favor of adoption and approval of the Merger Agreement and approval of the Merger and certain related matters. Interwoven did not pay additional consideration to Stockholders who entered into a Voting Agreement. Each of the Stockholders also granted Interwoven and Merger Sub an irrevocable proxy (the “Proxy”).

 

References to, and descriptions of, the Merger, the Merger Agreement and the Voting Agreements as set forth herein are qualified in their entirety by reference to the copy of the Merger Agreement included as Exhibit 1 to this Schedule 13D and the Voting Agreement (and Proxy) included as Exhibit 2 to this Schedule 13D, respectively, and are incorporated in this Item 3 in their entirety where such references and descriptions appear.


     
       

Page 3 of 6 Pages

     

 

Item 4.   Purpose of Transaction.

 

(a) – (b)    As described in Item 3 above, this Schedule 13D relates to the potential acquisition of iManage by Interwoven pursuant to which, at the effective time of the Merger, all of the outstanding shares of Common Stock of iManage will be purchased by Interwoven and iManage will be merged with and into the Merger Sub, with Merger Sub continuing as the surviving entity and a wholly-owned subsidiary of Interwoven.

 

The purpose of the Merger is for Interwoven to acquire the Issuer pursuant to the Merger Agreement. To induce Interwoven to enter into the Merger Agreement, the Stockholders entered into Voting Agreements. The purpose of the Voting Agreements is to enable Interwoven and iManage to consummate the transactions contemplated under the Merger Agreement.

 

The Merger Agreement provides that, at the effective time of the Merger, each outstanding share of iManage Common Stock will be converted into the right to receive 2.0943 shares of Interwoven common stock (the “Exchange Ratio”) and $1.20 in cash, without interest. In addition, each outstanding option to purchase shares of iManage common stock will be assumed by Interwoven and converted into an option to purchase shares of Interwoven common stock, in a number and at an exercise price appropriately adjusted to reflect a modified version of the Exchange Ratio, which equals 2.0943 plus the fraction of (a) $1.20 divided by (b) the 5-day trailing average of the closing price of Interwoven common stock as reported on the NASDAQ National Market as of the trading day immediately preceding the date on which the transaction is completed.

 

The Stockholders have, by executing Voting Agreements, agreed to vote all of the shares of Issuer Common Stock (the “Shares”) beneficially owned by them at every meeting of stockholders and on every action or approval by written consent in lieu of such meeting, to cause the Shares to be voted (i) in favor of the approval of the Merger and the adoption and approval of the Merger Agreement, and in favor of each of the other actions contemplated by the Merger Agreement and the Proxy and any action required in furtherance thereof; (ii) in favor of any matter that could be reasonably expected to facilitate the Merger, including waiving any notice that may be required relating to the Merger; (iii) against approval of any proposal made in opposition to, or in competition with, consummation of the Merger and the transactions contemplated by the Merger Agreement, including any proposal for the acquisition or purchase of iManage’s assets or capital stock by any person (other than Interwoven); (iv) against any matter that could reasonably be expected to facilitate any acquisition or purchase of iManage’s assets or capital stock by any person (other than Interwoven); and (v) against any other action that is intended, or could reasonably be expected to, impede, interfere with, delay, postpone, discourage or adversely affect the Merger or any other transactions contemplated by the Merger Agreement. The Stockholders may vote the Shares on all other matters submitted to the stockholders of iManage for their approval. The Voting Agreements terminate upon the earlier to occur of (i) such date and time as the Merger Agreement shall have been validly terminated pursuant to its term; (ii) such date and time as the Merger shall have been consummated; and (iii) such date and time as agreed upon in writing by the parties to the Voting Agreements. Together with the Voting Agreements, the Stockholders delivered irrevocable proxies to Interwoven and Merger Sub granting Interwoven’s executive officers and directors the right to vote their shares of Issuer Common Stock in accordance with the Stockholders’ obligations under the Voting Agreements described above.


     
       

Page 4 of 6 Pages

     

 

(c)    Not applicable.

 

(d)    It is anticipated that upon consummation of the Merger, the officers and directors of the Merger Sub shall be the current officers and directors of Merger Sub, until their respective successors are duly elected or appointed and qualified.

 

(e)    Other than as a result of the Merger described in Item 3 and above in this Item 4, not applicable.

 

(f)    Not applicable.

 

(g)    Upon consummation of the Merger, the Certificate of Incorporation and Bylaws of Merger Sub shall be the current Certificate of Incorporation and Bylaws of Merger Sub.

 

(h) – (i)    If the Merger is consummated as planned, the Issuer Common Stock will cease to be quoted on the NASDAQ National Market and it will become eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended.

 

(j)    Other than described above, Interwoven currently has no plans or proposals which relate to, or may result in, any of the matters listed in Items 4(a) – (j) of this Schedule 13D (although Interwoven reserves the right to develop such plans).

 

References to, and descriptions of, the Merger, the Merger Agreement and the Voting Agreements as set forth herein are qualified in their entirety by reference to the copy of the Merger Agreement included as Exhibit 1 to this Schedule 13D and the Voting Agreement (and Proxy) included as Exhibit 2 to this Schedule 13D, respectively, and are incorporated in this Item 4 in their entirety where such references and descriptions appear.

 

Item 5.   Interest in Securities of the Issuer.

 

(a) – (b)    As a result of the Voting Agreements, Interwoven may be deemed to be the beneficial owner of 5,212,177 shares of Issuer Common Stock. This number of shares represents approximately 20.8% of the issued and outstanding shares of Issuer Common Stock based on the number of shares of Issuer Common Stock outstanding as of August 5, 2003 (as represented by the Issuer in the Merger Agreement discussed in Item 3 and Item 4 above). Interwoven may be deemed to have the shared power to vote the Shares with respect to the matters described above. However, Interwoven (i) is not entitled to any rights as a stockholder of Issuer as to the Shares and (ii) disclaims any beneficial ownership of the Shares. Nothing herein shall be deemed to be an admission by Interwoven as to the beneficial ownership of any Shares.


     
       

Page 5 of 6 Pages

     

 

To Interwoven’s knowledge, no shares of Issuer Common Stock are beneficially owned by any of the persons named in Schedule A to this Schedule 13D.

 

(c)    To Interwoven’s knowledge, no transactions in the class of securities reported have been effected during the past sixty days by any person named pursuant to Item 2.

 

(d)    To Interwoven’s knowledge, no person other than the Stockholders listed on Schedule B has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the Shares.

 

(e)    Not Applicable.

 

Item 6.   Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.

 

Other than the Merger Agreement and the exhibits thereto, including the Voting Agreement, to the knowledge of Interwoven, there are no contracts, arrangements, understandings or relationships among the persons named in Item 2 (including Schedule A hereto) and between such persons and any person with respect to any securities of Issuer, including but not limited to transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. Notwithstanding the foregoing, Interwoven is obligated to pay Lehman Brothers Inc. investment banking and financial advisor fees in connection with the Merger.

 

Item 7.   Materials to be Filed as Exhibits.

 

The following documents are filed as exhibits:

 

Exhibit

No.


  

Title


1

   Agreement and Plan of Merger, dated as of August 6, 2003, by and among Interwoven, Inc., Mahogany Acquisition Corporation and iManage, Inc. (incorporated by reference from Exhibit 2.01 to the Interwoven, Inc. Form 8-K dated August 8, 2003 and filed with the Securities and Exchange Commission on August 8, 2003).

2

   Form of Voting Agreement, dated August 6, 2003, by and among Interwoven, Inc., Mahogany Acquisition Corporation and certain shareholders and/or optionholders of iManage, Inc.


     
       

Page 6 of 6 Pages

     

 

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated:  August 14, 2003       INTERWOVEN, INC.
            By:  

/s/    DAVID M. ALLEN


               

David M. Allen

Senior Vice President and Chief Financial Officer

 

 

 

 

Attention:  Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C. 1001)


Schedule A

 

Directors and Executive Officers of Interwoven, Inc.

 

The following table sets for the name, business address and present principal occupation or employment of each director and executive officer of Interwoven, Inc. Except as indicated below, the business address of each person is c/o Interwoven, Inc., 803 11th Avenue, Sunnyvale, CA 94089. Each person listed below is a citizen of the United States.

 

Directors

 

Name and Address (as applicable)

 

  Title/ Occupation
Martin W. Brauns   Chief Executive Officer and Chairman of the Board, Interwoven, Inc.
Kathryn C. Gould   Managing Member, Foundation Capital
Frank J. Fanzilli, Jr.   Independent Business Consultant
Ronald E.F. Codd   Independent Business Consultant
Anthony Zingale   Retired

Officers

 

Name

 

  Title
Martin W. Brauns   Chief Executive Officer and Chairman of the Board, Interwoven, Inc.
David M. Allen   Senior Vice President, Chief Financial Officer and Secretary
John Bara   Senior Vice President of Marketing
Scipio Maximus Carnecchia   Senior Vice President Americas and EMEA Sales
Alex Choy   Senior Vice President of Engineering
Jack S. Jia   Senior Vice President and Chief Technical Officer
Steven J. Martello   Senior Vice President of Client Services


Schedule B

 

Stockholders Party to a Voting Agreement with Interwoven, Inc.

 

The following table sets for the name and principal occupation or employment of each stockholder of iManage that has entered into a Voting Agreement with Interwoven in connection with the Merger Agreement, and the aggregate number of shares of iManage Common Stock beneficially owned by each such Stockholder as of August 5, 2003 subject to such Voting Agreement. Except as otherwise indicated below, the business address of each Stockholder set forth on this Schedule B is: c/o iManage, Inc., 950 Tower Lane, Suite 500, Foster City, CA 94404.

 


Stockholder Party to

Voting Agreement

  

Shares Beneficially Owned and

Subject to Voting Agreement

  

Percent of

Class (%)3


Mahmood Panjwani

Rafiq Mohammandi

Moez Virani

  

2,632,458

2,349,525

   230,194

  

10.5

  9.4

  0.9


3   Based on 24,488,428 shares of iManage Common Stock outstanding as of August 6, 2003 (as represented by the issuer) and assuming the issuance of 545,443 shares of iManage Common Stock upon the exercise of outstanding options which are either vested or will vest within 60 days of August 6, 2003.


Exhibit Index

 

No.

  

Title


2

   Form of Voting Agreement, dated August 6, 2003, by and among Interwoven, Inc., Mahogany Acquisition Corporation and certain shareholders and/or optionholders of iManage, Inc.
EX-2 3 dex2.htm FORM OF VOTING AGREEMENT Prepared by R.R. Donnelley Financial -- Form of Voting Agreement

EXHIBIT 2

 

VOTING AGREEMENT

 

This VOTING AGREEMENT (this “Agreement”) is made and entered into as of August 6, 2003, by and between Interwoven, Inc., a Delaware corporation (“Parent”), Mahogany Acquisition Corporation, a Delaware corporation and a direct wholly-owned subsidiary of Parent (“Merger Sub”) and the undersigned stockholder and/or optionholder (the “Stockholder”) of iManage, Inc., a Delaware corporation (the “Company”). Capitalized terms used and not otherwise defined herein shall have the respective meanings assigned to them in the Merger Agreement referred to below.

 

WHEREAS, as of the date hereof, Stockholder is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of such number of shares of the outstanding capital stock of the Company, and such number of shares of capital stock of the Company issuable upon the exercise of outstanding options and warrants, as is indicated on Schedule A;

 

WHEREAS, concurrently with the execution of this Agreement, Parent, Merger Sub and the Company are entering into an Agreement and Plan of Merger, dated as of the date hereof, and as may be amended from time to time (the “Merger Agreement”), pursuant to which, upon the terms and subject to the conditions thereof, the Company will be merged with and into Merger Sub, with Merger Sub continuing as the surviving corporation (the “Merger”) and all outstanding capital stock of the Company will be converted into the right to receive cash and common stock of Parent, as set forth in the Merger Agreement; and

 

WHEREAS, as an inducement and a condition to entering into the Merger Agreement by Parent and Merger Sub, the Stockholder has agreed to vote the Shares (as defined below), so as to facilitate consummation of the Merger.

 

NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the parties hereto hereby agree as follows:

 

1.    Certain Definitions.    For all purposes of and under this Agreement, the following terms shall have the following respective meanings:

 

(a)  “Beneficially Own” or “Beneficial Ownership” means, with respect to securities, having “beneficial ownership” of such securities as determined pursuant to Rule 13d-3 under the Securities Act of 1934, as amended.

 

(b)  “Current Shares” means issued and outstanding shares of Company Common Stock owned of record and Beneficially Owned by the Stockholder as of the date hereof.

 

(c)  “Expiration Time” means the earliest to occur of (i) valid termination of the Merger Agreement pursuant to its terms, (ii) consummation of the Merger or (ii) the written agreement of the parties hereto to terminate this Agreement.

 

(d)  “Shares” means: (i) Current Shares, (ii) all securities of the Company (including all options, warrants and other rights to acquire shares of Company Common Stock) owned by the Stockholder as of the date of this Agreement and such other shares of capital stock of the Company over which the Stockholder has voting power as indicated on Schedule A, and (iii) all additional securities of the Company (including all additional shares of Company Common Stock and all additional options, warrants and other rights to acquire shares of Company Common Stock) of which the Stockholder acquires beneficial ownership during the period commencing with the execution and delivery of this Agreement until the Expiration Time.

 

1


(e)  “Transfer” A Person shall be deemed to have effected a “Transfer” of a security if such person directly or indirectly (i) sells, pledges, encumbers, grants an option with respect to, transfers or otherwise disposes of such security or any interest therein (including any voting interest), or (ii) enters into an agreement or commitment providing for the sale of, pledge of, encumbrance of, grant of an option with respect to, transfer of or disposition of such security or any interest therein.

 

2.    Transfer of Shares.

 

(a)  No Transfer of Shares.    The Stockholder hereby agrees that, at all times during the period commencing with the execution and delivery of this Agreement until the Expiration Time, the Stockholder shall not cause or permit any Transfer of any of the Shares to be effected, or discuss, negotiate or make any offer regarding any Transfer of any of the Shares without the prior written consent of Parent other than the issuance of Company Common Stock to Stockholder in connection with the exercise by Stockholder of Company Options. Notwithstanding the foregoing, Stockholder may Transfer Shares to a member of such Stockholder’s immediate family or to a trust or other entity created by such Stockholder for tax or estate planning purposes, provided, that any such transferee agrees to assume the obligations of the Stockholder hereunder with respect to any Shares so transferred and the Stockholder may Transfer Shares pursuant to the terms of a trading plan adopted pursuant to Rule 10b5-1 under the Exchange Act in effect prior to the date hereof.

 

(b)  No Transfer of Voting Rights.    The Stockholder hereby agrees that, at all times commencing with the execution and delivery of this Agreement until the Expiration Time, the Stockholder shall not deposit, or permit the deposit of, any Shares in a voting trust, grant any proxy in respect of the Shares, or enter into any voting agreement or similar arrangement or commitment with respect to any of the Shares (other than, in each case, this Agreement and the Proxy (as defined in Section 5)).

 

3.    Agreement to Vote Shares.    Until the Expiration Time, at every meeting of stockholders of the Company called with respect to any of the following, and at every adjournment or postponement thereof, and on every action or approval by written consent of stockholders of the Company with respect to any of the following, the Stockholder shall vote, to the extent not voted by the person(s) appointed under the Proxy, the Shares:

 

(a)  in favor of approval of the Merger and the adoption and approval of the Merger Agreement, and in favor of each of the other actions contemplated by the Merger Agreement and the Proxy and any action required in furtherance thereof;

 

(b)  in favor of any matter that could reasonably be expected to facilitate the Merger, including waiving any notice that may be required relating to the Merger;

 

(c)  against approval of any proposal made in opposition to, or in competition with, consummation of the Merger and the transactions contemplated by the Merger Agreement, including any proposal for the acquisition or purchase of the Company’s assets or capital stock by any Person (other than Parent);

 

(d)  against any other matter that could reasonably be expected to facilitate any acquisition or purchase of the Company’s assets or capital stock by any Person (other than Parent); and

 

(e)  against any other action that is intended, or could reasonably be expected, to impede, interfere with, delay, postpone, discourage or adversely affect the Merger or any of the other transactions contemplated by the Merger Agreement.

 

Prior to the Expiration Time, the Stockholder shall not enter into any agreement or understanding with any person to vote or give instructions in any manner inconsistent with the terms of this Section 3.

 

2


4.    Waiver of Appraisal Rights.    The Stockholder agrees not to exercise any rights of appraisal and any dissenters’ rights that Stockholder may have (whether under applicable law or otherwise) or could potentially have or acquire in connection with the Merger.

 

5.    Irrevocable Proxy.    Concurrently with the execution of this Agreement, the Stockholder agrees to deliver and delivers to Parent and Merger Sub a proxy in the form attached hereto as Exhibit A (the “Proxy”), which shall be coupled with an interest and, until the Expiration Time, be irrevocable to the fullest extent permissible by applicable law, with respect to the Shares.

 

6.    Representations and Warranties of the Stockholder.    The Stockholder hereby represents and warrants to Parent and Merger Sub that, as of the date hereof and at all times until the Expiration Time:

 

(a)  the Stockholder is (and will be, except with respect to any Shares that are Transferred in compliance with Section 2(a)) the Beneficial Owner of the Shares;

 

(b)  the Current Shares are, and the Shares will be unless Transferred in compliance with Section 2(a), free and clear of any Encumbrances of any kind or nature;

 

(c)  the Stockholder does not and will not beneficially own any securities of the Company or rights to acquire any securities of the Company other than the Shares;

 

(d)  the Stockholder has and will have, with respect to all of the Shares, the legal capacity and all requisite power and authority to make, enter into and (except with respect to any Shares that are Transferred in compliance with to Section 2(a)) perform the terms of this Agreement and the Proxy;

 

(e)  this Agreement has been duly and validly executed and delivered by the Stockholder and constitutes a valid and binding obligation of the Stockholder, enforceable against the Stockholder in accordance with its terms, except as enforceability may be limited by bankruptcy and other similar laws affecting the rights of creditors generally and general principles of equity;

 

(f)  the execution and delivery of this Agreement by the Stockholder do not, and the consummation of the transactions contemplated hereby will not, conflict with or violate any material Legal Requirement or permit applicable to the Stockholder or result in any breach of or constitute a material default (or an event that with notice or lapse of time or both would become a material default) under or materially impair the Stockholder’s rights or alter the rights or obligations of any third party under any Contract applicable to the Shares, except where such conflicts, violations, breaches or defaults would not, individually or in the aggregate, materially impair the ability of the Stockholder to perform his obligations hereunder; and

 

(g)  except as expressly contemplated hereby, the Stockholder is not a party to, and the Shares are not subject to or bound in any manner by, any contract or agreement relating to the Shares, including without limitation, any voting agreement, option agreement, purchase agreement, stockholders’ agreement, partnership agreement or voting trust.

 

7.    Representations and Warranties of the Parent and Merger Sub.    Parent and Merger Sub hereby represent and warrant to the Stockholder that, as of the date hereof and at all times until the Expiration Time:

 

(a)  this Agreement has been duly and validly executed and delivered by Parent and Merger Sub and constitutes the respective valid and binding obligations of the Parent and Merger Sub, enforceable against Parent and Merger Sub in accordance with its terms, except as enforceability may be limited by bankruptcy and other similar laws affecting the rights of creditors generally and general principles of equity; and

 

(b)  the execution and delivery of this Agreement by the Parent and Merger Sub do not, and the consummation of the transactions contemplated hereby will not, conflict with or violate any material Legal Requirement or Permit applicable to either Parent or Merger Sub, except where such conflicts, violations, breaches or defaults would not, individually or in the aggregate, materially impair the ability of either Parent or Merger Sub to perform its obligations hereunder.

 

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8.    Legending of Shares.    If so requested by Parent, the Stockholder hereby agrees that the Shares shall bear a legend stating that they are subject to this Agreement and to an irrevocable proxy. The Stockholder hereby agrees that the Stockholder shall not Transfer the Shares without first having the aforementioned legend affixed to the certificates representing the Shares.

 

9.    Consent and Waiver.    Stockholder (not in his or her capacity as a director or officer of the Company) agrees to give any consent or waiver that is reasonably required under the terms of any agreement to which such Stockholder is a party which consent or waiver is required solely because of the consummation of the Merger in accordance with the terms of the Merger Agreement.

 

10.    Miscellaneous.

 

(a)  Waiver.    No waiver by any party hereto of any condition or any breach of any term or provision set forth in this Agreement shall be effective unless in writing and signed by the other party hereto. The waiver of any breach of any term or provision of this Agreement shall not operate as or be construed to be a waiver of any other previous or subsequent breach of any term or provision of this Agreement.

 

(b)  Notices.    All notices and other communications hereunder shall be in writing and shall be deemed duly given (i) on the date of delivery if delivered personally, (ii) on the date of confirmation of receipt (or, the first business day following such receipt if the date is not a business day) of transmission by facsimile, or (iii) on the date of confirmation of receipt (or, the first business day following such receipt if the date is not a business day) if delivered by a nationally recognized courier service. Subject to the foregoing, all notices hereunder shall be delivered as set forth below, or pursuant to such other instructions as may be designated in writing by the party to receive such notice:

 

(i)  if to Parent or Merger Sub, to:

 

Interwoven, Inc.

803 11th Avenue

Sunnyvale, California 94089

Attention: Douglas Jones

Facsimile No.: (408) 774-2003

 

with a copy to:

 

Fenwick & West LLP

Silicon Valley Center

801 California Street

Mountain View, California 94041

Attention: Douglas N. Cogen

                 Craig Menden

Facsimile No.: 650-938-5200

 

(ii)  if to Stockholder, to the address set forth on the signature page of this Agreement, with a copy to:

 

Skadden, Arps, Slate, Meagher and Flom LLP

525 University Avenue, Suite 1100

Palo Alto, California 94301

Attention: Kenton J. King

                 Celeste E. Greene

Facsimile No.: 650-470-4570

 

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(c)  Interpretation.    When reference is made in this Agreement to a Section, Schedule or Exhibit, such reference shall be to a Section, Schedule or Exhibit of this Agreement, unless otherwise indicated. The headings contained in this Agreement are for convenience of reference only and shall not affect in any way the meaning or interpretation of this Agreement. Whenever the context may require, any pronouns used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns and pronouns shall include the plural, and vice versa. Any reference to any federal, state, local or foreign statute or law shall be deemed also to refer to all rules and regulations promulgated thereunder, unless the context requires otherwise. Whenever the words “include,” “includes” or “including” are used in this Agreement, they shall be deemed to be followed by the words “without limitation.”

 

(d)  Counterparts.    This Agreement may be executed in two or more counterparts, all of which shall be considered one and the same agreement and shall become effective when one or more counterparts have been signed by each of the parties and delivered to the other party, it being understood that all parties need not sign the same counterpart.

 

(e)  Entire Agreement.    This Agreement and the Proxy constitute the entire agreement among the parties with respect to the subject matter hereof and supersede all prior agreements and understandings, both written and oral, among the parties with respect to the subject matter hereof. This Agreement may not be changed or modified, except by an agreement in writing specifically referencing this Agreement and executed by each of the parties hereto.

 

(f)  Severability.    In the event that any provision of this Agreement or the application thereof, becomes or is declared by a court of competent jurisdiction to be illegal, void or unenforceable, the remainder of this Agreement will continue in full force and effect and the application of such provision to other Persons or circumstances will be interpreted so as reasonably to effect the intent of the parties hereto. The parties further agree to replace such void or unenforceable provision of this Agreement with a valid and enforceable provision that will achieve, to the greatest extent possible, the economic, business and other purposes of such void or unenforceable provision. This Agreement shall, and it is the intent of the parties that this Agreement shall, not preclude the Board of Directors of the Company or any member thereof from exercising their fiduciary duties as required by applicable law.

 

(g)  Specific Performance.    The parties hereto agree that irreparable damage would occur in the event that any of the provisions of this Agreement were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the parties shall be entitled to seek an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof in any court of the United States or any state having jurisdiction, this being in addition to any other remedy to which they are entitled at law or in equity. In the event of any such proceedings to enforce this agreement, the non-prevailing party will pay all costs and expenses incurred by the prevailing party, including all reasonable attorneys’ and experts’ fees.

 

(h)  Governing Law.    This Agreement shall be governed by and construed in accordance with the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of law thereof.

 

(i)  Rules of Construction.    The parties hereto agree that they have been represented by counsel during the negotiation and execution of this Agreement and, therefore, waive the application of any law, regulation, holding or rule of construction providing that ambiguities in an agreement or other document will be construed against the party drafting such agreement or document.

 

(j)  Binding Effect; Assignment.    Stockholder may not assign either this Agreement or any of the rights, interests, or obligations hereunder without the prior written approval of Parent. Any purported assignment in violation of this Section 8(j) shall be void. Subject to the preceding sentence, this Agreement shall be binding upon and shall inure to the benefit of the parties hereto and their respective successors and permitted assigns.

 

(k)  Waiver of Jury Trial.    EACH OF PARENT, MERGER SUB AND THE STOCKHOLDER HEREBY IRREVOCABLY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE ACTIONS OF PARENT, MERGER SUB OR STOCKHOLDER IN THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT HEREOF.

 

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IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be signed individually or by its respective duly authorized officer as of the date first written above.

 

INTERWOVEN, INC.

By:

 

/s/    MARTIN W. BRAUNS


   

Name:  Martin W. Brauns

Title:   Chief Executive Officer

MAHOGANY ACQUISITION CORPORATION

By:

 

/s/    DOUGLAS JONES


   

Name:  Douglas Jones

Title:   President

STOCKHOLDER:  

Signature:

 

 


   

Name:                                                 

Address:                                 

Address:                                 

 

 

 

 

 

[SIGNATURE PAGE TO COMPANY VOTING AGREEMENT]

 

6


Schedule A

 

Stockholder


 

Number of Company Shares Owned


 

Number of Company Options

and Warrants Owned


         

 

7


Exhibit A

 

IRREVOCABLE PROXY

 

The undersigned Stockholder of iManage, Inc., a Delaware corporation (the “Company”), hereby irrevocably (to the fullest extent permitted by law) appoints the executive officers and members of the Board of Directors of Interwoven, Inc., a Delaware corporation (“Parent”), and each of them, as the sole and exclusive attorneys and proxies of the undersigned, with full power of substitution and resubstitution, to vote and exercise all voting and related rights (to the fullest extent that the undersigned is entitled to do so) with respect to all of the Shares, as defined in the Voting Agreement of even date herewith by and between Parent, Mahogany Acquisition Corporation, a Delaware corporation and a direct wholly-owned subsidiary of Parent (“Merger Sub”) and the undersigned Stockholder (the “Voting Agreement”) in accordance with the terms of this Proxy. The Shares Beneficially Owned by the undersigned Stockholder of the Company as of the date of this Proxy are listed on the final page of this Proxy. Upon the undersigned’s execution of this Proxy, any and all prior proxies given by the undersigned with respect to any Shares are hereby revoked and the undersigned agrees not to grant any subsequent proxies with respect to the Shares until after the Expiration Time (as defined in the Voting Agreement).

 

Until the Expiration Time, this Proxy is irrevocable (to the fullest extent permitted by law), is coupled with an interest, is granted pursuant to the Voting Agreement, and is granted in consideration of Parent and Merger Sub entering into that certain Agreement and Plan of Merger (as it may be amended from time to time, the “Merger Agreement”), among Parent, Merger Sub and the Company. The Merger Agreement provides for the merger of the Company with and into Merger Sub in accordance with its terms (the “Merger”). Capitalized terms used and not otherwise defined herein shall have the respective meanings assigned to them in the Voting Agreement and the Merger Agreement.

 

The attorneys and proxies named above, and each of them, are hereby authorized and empowered by the undersigned, at any time prior to the Expiration Time, to act as the undersigned’s attorney and proxy to vote the Shares, and to exercise all voting, consent and similar rights of the undersigned with respect to the Shares (including, without limitation, the power to execute and deliver written consents) at every annual, special, adjourned or postponed meeting of stockholders of the Company and in every written consent in lieu of such meeting:

 

(a)  in favor of approval of the Merger and the adoption and approval of the Merger Agreement, and in favor of each of the other actions contemplated by the Merger Agreement and the Proxy and any action required in furtherance thereof;

 

(b)  in favor of any matter that could reasonably be expected to facilitate the Merger, including waiving any notice that may be required relating to Merger;

 

(c)  against approval of any proposal made in opposition to, or in competition with, consummation of the Merger and the transactions contemplated by the Merger Agreement, including any proposal for the acquisition or purchase of the Company’s assets or capital stock by any Person (other than Parent);

 

(d)  against any other matter that could reasonably be expected to facilitate any acquisition or purchase of the Company’s assets or capital stock by any Person (other than Parent); and

 

(e)  against any other action that is intended, or could reasonably be expected, to impede, interfere with, delay, postpone, discourage or adversely affect the Merger or any of the other transactions contemplated by the Merger Agreement.

 

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The attorneys and proxies named above may not exercise this Proxy on any other matter except as provided above.

 

Any obligation of the undersigned hereunder shall be binding upon the successors and assigns of the undersigned.

 

 

 

 

 

 

 

 

[REMAINDER OF PAGE INTENTIONALLY LEFT BLANK]

 

9


This Proxy is irrevocable (to the fullest extent permitted by law) until the Expiration Time and shall terminate, and be of no further force and effect, automatically upon the Expiration Time.

 

Dated: August 6, 2003

 

Signature of Stockholder:

        
 
   

Print Name of Stockholder:

        
 
   

Shares Beneficially Owned:

        
 
   
                          shares of Company Common Stock
                          shares of Company Common Stock issuable upon exercise of outstanding options or warrants

 

 

 

 

 

 

 

[SIGNATURE PAGE TO IRREVOCABLE PROXY]

 

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