-----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, EidQ9HlzXSLBha404ha53v0vToSMWOc9q0hxr4M58QST9jO23Dp5pkDoIaXa8Api Qwts/d/DT++dVcA8NmiAbg== 0000950142-01-000136.txt : 20010307 0000950142-01-000136.hdr.sgml : 20010307 ACCESSION NUMBER: 0000950142-01-000136 CONFORMED SUBMISSION TYPE: SC 13D/A PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20010305 GROUP MEMBERS: GAP COINVESTMENT PARTNERS II, L.P. GROUP MEMBERS: GAP III INVESTORS, INC. GROUP MEMBERS: GAP-BRIGHAM PARTNERS, L.P. GROUP MEMBERS: GENERAL ATLANTIC PARTNERS III LP GROUP MEMBERS: GENERAL ATLANTIC PARTNERS III, L.P. SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: BRIGHAM EXPLORATION CO CENTRAL INDEX KEY: 0001034755 STANDARD INDUSTRIAL CLASSIFICATION: CRUDE PETROLEUM & NATURAL GAS [1311] IRS NUMBER: 752692967 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D/A SEC ACT: SEC FILE NUMBER: 005-51001 FILM NUMBER: 1561287 BUSINESS ADDRESS: STREET 1: 6300 BRIDGE POINT PARKWAY STREET 2: BLDG 2 SUITE 500 CITY: AUSTIN STATE: TX ZIP: 78730 BUSINESS PHONE: 5124273300 MAIL ADDRESS: STREET 1: 6300 BRIDGE POINT PARKWAY STREET 2: BLDG 2 SUITE 500 CITY: AUSTIN STATE: TX ZIP: 78730 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL ATLANTIC PARTNERS III LP CENTRAL INDEX KEY: 0001055134 STANDARD INDUSTRIAL CLASSIFICATION: [] FILING VALUES: FORM TYPE: SC 13D/A BUSINESS ADDRESS: STREET 1: 3 PICKWICK PLAZA CITY: GREENWICH STATE: CT ZIP: 06830 MAIL ADDRESS: STREET 1: 3 PICKWICK PLAZA CITY: GREENWICH STATE: CT ZIP: 06830 SC 13D/A 1 0001.txt AMENDMENT NO. 2 ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ----------------------- SCHEDULE 13D Under the Securities Exchange Act of 1934 (AMENDMENT NO. 2) ----------------------- BRIGHAM EXPLORATION COMPANY (Name of Issuer) COMMON STOCK, PAR VALUE $0.01 PER SHARE (Title of Class of Securities) 109178103 (CUSIP Number) THOMAS J. MURPHY C/O GENERAL ATLANTIC SERVICE CORPORATION 3 PICKWICK PLAZA GREENWICH, CONNECTICUT 06830 TEL. NO.: (203) 629-8600 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) ----------------------- MARCH 1, 2001 (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 which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 1(f) or 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 Rule 13d-1(a) 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). ================================================================================ - ---------------------------- ------------------------------ 109178103 PAGE 2 OF 10 PAGES - ---------------------------- ------------------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON General Atlantic Partners III, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ------------------------------------------------ BENEFICIALLY OWNED 8 SHARED VOTING POWER BY EACH REPORTING PERSON 4,107,956 WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER -0- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 4,107,956 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,107,956 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 24.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ---------------------------- ------------------------------ 109178103 PAGE 3 OF 10 PAGES - ---------------------------- ------------------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON GAP III Investors, Inc. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ------------------------------------------------ BENEFICIALLY OWNED 8 SHARED VOTING POWER BY EACH REPORTING PERSON 4,107,956 WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER -0- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 4,107,956 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,107,956 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 24.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON CO - -------------------------------------------------------------------------------- - ---------------------------- ------------------------------ 109178103 PAGE 4 OF 10 PAGES - ---------------------------- ------------------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON GAP-Brigham Partners, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ------------------------------------------------ BENEFICIALLY OWNED 8 SHARED VOTING POWER BY EACH REPORTING PERSON 4,107,956 WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER -0- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 4,107,956 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,107,956 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 24.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ---------------------------- ------------------------------ 109178103 PAGE 5 OF 10 PAGES - ---------------------------- ------------------------------ - -------------------------------------------------------------------------------- 1 NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON GAP Coinvestment Partners II, L.P. - -------------------------------------------------------------------------------- 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X] (b) [_] - -------------------------------------------------------------------------------- 3 SEC USE ONLY - -------------------------------------------------------------------------------- 4 SOURCE OF FUNDS OO - -------------------------------------------------------------------------------- 5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS 2(d) or 2(e) [_] - -------------------------------------------------------------------------------- 6 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware - -------------------------------------------------------------------------------- 7 SOLE VOTING POWER NUMBER OF -0- SHARES ------------------------------------------------ BENEFICIALLY OWNED 8 SHARED VOTING POWER BY EACH REPORTING PERSON 4,107,956 WITH ------------------------------------------------ 9 SOLE DISPOSITIVE POWER -0- ------------------------------------------------ 10 SHARED DISPOSITIVE POWER 4,107,956 - -------------------------------------------------------------------------------- 11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,107,956 - -------------------------------------------------------------------------------- 12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES [_] - -------------------------------------------------------------------------------- 13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11) 24.1% - -------------------------------------------------------------------------------- 14 TYPE OF REPORTING PERSON PN - -------------------------------------------------------------------------------- - ---------------------------- ------------------------------ 109178103 PAGE 6 OF 10 PAGES - ---------------------------- ------------------------------ Item 1. Security and Issuer. This Amendment No. 2 to Schedule 13D is filed by the undersigned to amend and supplement the Schedule 13D, dated as of March 3, 2000 (the "Original 13D"), as amended by Amendment No. 1 thereto, dated as of November 6, 2000, ("Amendment No. 1"), with respect to the shares of Common Stock, par value $0.01 per share (the "Common Stock") of Brigham Exploration Company, a Delaware corporation (the "Company"). Capitalized terms used herein and not otherwise defined shall have the meanings set forth in the Original 13D. Item 2. Identity and Background. Item 2 is hereby amended and restated in its entirety. This statement is being filed by a group, as defined in Rule 13d-5 of the General Rules and Regulations under the Securities Exchange Act of 1934, as amended (the "Exchange Act"). The members of the group are General Atlantic Partners III, L.P., a Delaware limited partnership ("GAP LP"), GAP III Investors, Inc., a Delaware corporation ("GAP III"), GAP-Brigham Partners, L.P., a Delaware limited partnership ("GAP-Brigham"), and GAP Coinvestment Partners II, L.P., a Delaware limited partnership ("GAPCO II" and, collectively with GAP LP, GAP III and GAP-Brigham, the "Reporting Persons"), all of which are located at 3 Pickwick Plaza, Greenwich, Connecticut 06830. Each of the Reporting Persons is engaged in acquiring, holding and disposing of interests in various companies for investment purposes. The general partner of GAP LP is GAP III. The name, residence or business address and present principal occupation or employment of each director, executive officer and controlling person of GAP III is as follows:
Principal Residence or Occupation Name/Title Business Address or Employment - ---------------------------- ----------------------------- ----------------------------- Stephen P. Reynolds, 215 East 72nd Street Retired President and Director New York, NY 10021 Steven A. Denning, 3 Pickwick Plaza Managing Member of General Director Greenwich, CT 06830 Atlantic Partners, LLC David C. Hodgson, 3 Pickwick Plaza Managing Member of General Director Greenwich, CT 06830 Atlantic Partners, LLC
- ---------------------------- ------------------------------ 109178103 PAGE 7 OF 10 PAGES - ---------------------------- ------------------------------
Principal Residence or Occupation Name/Title Business Address or Employment - ---------------------------- ----------------------------- ----------------------------- William E. Ford, 3 Pickwick Plaza Managing Member of General Director Greenwich, CT 06830 Atlantic Partners, LLC Edwin C. Cohen, Carlin Ventures Private Investor Director 445 Park Avenue 9th Floor New York, NY 10022 Alexis M. Cranberg, Aspect Management President of oil and gas Director 535 16th Street exploration company Suite 820 Denver, CO 80202
Messrs. Cohen and Cranberg are not employed by or affiliated with either of General Atlantic Partners, LLC, a Delaware limited liability company ("GAP LLC"), GAP-Brigham or GAPCO II. The general partner of GAP-Brigham is Stephen P. Reynolds. Mr. Reynolds is also a special advisor to GAP LLC. The general partners of GAPCO II are Steven A. Denning, Peter L. Bloom, William E. Ford, William O. Grabe, David C. Hodgson, Franchon M. Smithson, Clifton S. Robbins, Matthew Nimetz, Mark F. Dzialga, Rene M. Kern, John Wong, Braden R. Kelly, Florian P. Wendelstadt and Tom C. Tinsley (collectively, the "GAPCO II General Partners"). The business address of each of the GAPCO II General Partners is 3 Pickwick Plaza, Greenwich, Connecticut 06830, and the present principal occupation or employment of each of the GAPCO II General Partners is as a general partner of GAPCO II and as a managing member of GAP LLC. Each of the officers and directors of GAP III and each of the GAPCO II General Partners, other than Messrs. Kern, Wong and Wendelstadt, is a citizen of the United States. Messrs. Kern and Wendelstadt are citizens of Germany and Mr. Wong is a citizen of Singapore. None of the Reporting Persons and none of the above individuals has, during the last five years, been (i) convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) or (ii) a party to a civil proceeding of a judicial or administrative body of competent jurisdiction or subject to any judgment, decree or final order finding any violation of federal or state securities laws or enjoining future violations of, or prohibiting or mandating activities subject to, such laws. - ---------------------------- ------------------------------ 109178103 PAGE 8 OF 10 PAGES - ---------------------------- ------------------------------ Item 3. Source and Amount of Funds or Other Consideration. Unchanged. Item 4. Purpose of Transaction. Item 4 is hereby amended and supplemented by the addition of the following: This statement is being filed as a result of the Reporting Persons entering into a Stockholders Voting Agreement, dated March 1, 2001 (the "Voting Agreement"), with the Company, DLJ ESC II, L.P., a Delaware limited partnership, DLJMB Funding III, Inc., a Delaware corporation, DLJ Merchant Banking Partners III, L.P., A Delaware limited partnership, DLJ Offshore Partners III, C.V., a Netherlands Antilles Limited Partnership, and certain other shareholders of the Company (the "Shareholders"), pursuant to which the Reporting Persons agreed, among other things, that at any special or annual meeting of shareholders of the Company, such Reporting Persons would vote all of the shares of Common Stock beneficially owned by them to approve the Warrants and the issuance thereof (as hereinafter defined) in accordance with the Purchase Agreement (as hereinafter defined), all as more fully described in Item 6 below. Item 5. Interest in Securities of the Issuer. Unchanged. Item 6. Contracts, Arrangements, Understandings or Relationship with Respect to the Issuer. Item 6 is hereby amended and supplemented by the addition of the following: The Company entered into a Securities Purchase Agreement, dated March 1, 2001 (the "Purchase Agreement"), pursuant to which the Company agreed to issue and sell to certain purchasers an aggregate of up to 500,000 shares of its Series A Preferred Stock and warrants (the "Warrants") to acquire 2,105,263 shares (the "Warrant Shares") of Common Stock. As previously described in Amendment No. 1, the Company entered into a Securities Purchase Agreement, dated November 1, 2000 (the "November Purchase Agreement"), pursuant to which the Company issued and sold to certain purchasers an aggregate of 1,000,000 shares of its Series A Preferred Stock and warrants (the "November Warrants") to acquire 6,666,667 shares (the "November Warrant Shares") of Common Stock. - ---------------------------- ------------------------------ 109178103 PAGE 9 OF 10 PAGES - ---------------------------- ------------------------------ Since the Warrant Shares and the November Warrant Shares will represent more than 30% of the Company's outstanding Common Stock before the issuance of such Warrant Shares and November Warrant Shares, the Nasdaq Stock Market, Inc. has required that the issuance of the Warrants be approved by the stockholders of the Company. Consequently, the Company, the Reporting Persons and the Shareholders entered into the Voting Agreement. The foregoing summary of the Voting Agreement is qualified in its entirety by reference to Exhibit 2 which is incorporated herein by reference. Item 7. Materials to be Filed as Exhibits. Exhibit 1: Power of Attorney dated January 3, 2001 appointing Thomas J. Murphy Attorney-In -Fact for GAPCO II. Exhibit 2: Stockholders Voting Agreement, dated March 1, 2001 among the Company, DLJ ESC II, L.P., DLJMB Funding III, Inc., DLJ Merchant Banking Partners III, L.P., DLJ Offshore Partners III, C.V. and certain shareholders of the Company, including GAP III, Gap-Brigham and GAPCO II. - ---------------------------- ------------------------------ 109178103 PAGE 10 OF 10 PAGES - ---------------------------- ------------------------------ SIGNATURES 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 as of March 5, 2001. GENERAL ATLANTIC PARTNERS III, L.P. By: GAP III INVESTORS, INC., Its general partner By: /s/ Thomas J. Murphy ---------------------------------- Name: Thomas J. Murphy Title: Secretary GAP III INVESTORS INC. By: /s/ Thomas J. Murphy ---------------------------------- Name: Thomas J. Murphy Title: Secretary GAP-BRIGHAM PARTNERS, L.P. By: /s/ Stephen P. Reynolds ---------------------------------- Name: Stephen P. Reynolds Title: General Partner GAP COINVESTMENT PARTNERS II, L.P. By: /s/ Thomas J. Murphy ---------------------------------- Name: Thomas J. Murphy Title: Attorney-In-Fact EX-24.1 2 0002.txt EXHIBIT 1 EXHIBIT 1 to SCHEDULE 13D GAP COINVESTMENT PARTNERS II, L.P. 3 Pickwick Plaza Greenwich, CT 06830 January 3, 2001 POWER OF ATTORNEY The undersigned, GAP Coinvestment Partners II, L.P., a Delaware limited partnership, with its principal office at 3 Pickwick Plaza, Greenwich, Connecticut, United States of America (the "Partnership"), by its Managing General Partner, Steven A. Denning, a U.S. citizen of full legal age, hereby constitutes and appoints Thomas J. Murphy, a U.S. citizen, of full legal age, its true and lawful attorney-in-fact and agent, in any and all capacities, to execute and deliver any and all documents and instruments and to make any governmental filings on behalf of the Partnership as fully to all intents and purposes as a General Partner of the Partnership might or could do in person, hereby ratifying and confirming all that said attorney-in-fact may lawfully do or cause to be done. This power of attorney shall expire on December 31, 2001. GAP COINVESTMENT PARTNERS II, L.P. By /s/ Steven A. Denning --------------------------------- Steven A. Denning Managing General Partner STATE OF CONNECTICUT ) :ss. ###-##-#### COUNTY OF FAIRFIELD ) On the 3rd day of January, 2001, before me personally came Steven A. Denning, to me known, and known to me to be the individual described in, and who executed the foregoing document, and he acknowledged to me that he executed the same. /s/ Sheila Hughes - ------------------------- NOTARY PUBLIC My commission expires August 31, 2001 EX-9 3 0003.txt EXHIBIT 2 BRIGHAM EXPLORATION COMPANY STOCKHOLDERS VOTING AGREEMENT This STOCKHOLDERS VOTING AGREEMENT, dated March 1, 2001 (this "Agreement"), is made and entered into by and among Brigham Exploration Company, a Delaware corporation (the "Company"), "ES", "MB", "MBP" and "DOP", as ES, MB, MBP and DOP (collectively, the "Investors") are each defined on Page 7(a) hereof, and the following shareholders of the Company (the "Shareholders"): Ben M. and Anne L. Brigham, individual residents of Travis County, Texas, Harold D. Carter, a resident of Dallas County, Texas, General Atlantic Partners III, L.P., a Delaware limited partnership, GAP-Brigham Partners, L.P., a Delaware limited partnership, GAP Coinvestment Partners II, L.P., a Delaware limited partnership, Aspect Resources, LLC, a Colorado limited liability company, and the individual officers of the Company listed on Schedule I hereto. W I T N E S S E T H: WHEREAS, the Company and the Investors propose to enter into a Securities Purchase Agreement concurrently with the execution hereof (the "Purchase Agreement"), pursuant to which the Company will issue and sell to the Investors an aggregate of up to 500,000 shares of its Series A Preferred Stock and warrants (the "Warrants") to acquire 2,105,263 shares (the "Warrant Shares") of its common stock (the "Common Stock"); WHEREAS, the Company, ES and MB previously entered into a Securities Purchase Agreement dated November 1, 2000 (the "Previous Purchase Agreement"), pursuant to which the Company issued and sold to ES and MB an aggregate of 1,000,000 shares of its Series A Preferred Stock and warrants (the "Previous Warrants") to acquire 6,666,667 shares (the "Previous Warrant Shares") of Common Stock; WHEREAS, the issuance of the Previous Warrants has been approved by the stockholders of the Company; WHEREAS, the Warrant Shares and the Previous Warrant Shares represent greater than 30% of the outstanding Common Stock before issuance; WHEREAS, representatives of the Nasdaq Stock Market have informed the Company that they believe that the issuance of the Warrants, if the exercisability of the Warrants were not conditioned on stockholder approval of the issuance of the Warrants and the terms thereof, would constitute a change of control under the rules of the Nasdaq Stock Market, which would violate the rules of the Nasdaq Stock Market if made without stockholder approval; WHEREAS, the Company and the Investors have agreed pursuant to the terms of the Warrants and the Purchase Agreement that the Warrants shall not be exercisable until the stockholders of the Company approve the issuance of the Warrants and the terms thereof, and the Company has agreed to seek such approval at its annual stockholders' meeting to be held on or before May 31, 2001; and WHEREAS, as a condition to the agreement of the Investors to enter into the Purchase Agreement, the Company and the Shareholders have agreed to enter into this Agreement to provide for certain agreements relating to approval of the issuance of the Warrants and the terms thereof; NOW, THEREFORE, in consideration of the foregoing and the mutual agreements set forth herein, the parties to this Agreement hereby agree as follows: 1. AGREEMENT TO VOTE SHARES. Each Shareholder agrees that, at any special or annual meeting of shareholders of the Company, such Shareholder shall vote all shares of Common Stock registered in its, his or her name or beneficially owned by it, him or her as of the date hereof and any and all other capital stock of the Company legally or beneficially acquired by such Shareholder after the date hereof to approve the Warrants and the issuance of the Warrants to the Investors. In the event that the Purchase Agreement is terminated for any reason, then this Agreement shall automatically terminate and none of the parties hereto shall have any liability hereunder. Each Shareholder represents to the Investors that as of the date hereof such Shareholder owns the number of outstanding shares of Common Stock set forth opposite such Shareholder's name on attached Schedule I. 2. SUCCESSORS, ASSIGNS AND TRANSFEREES. The terms and provisions of this Agreement shall not bind, inure to the benefit of or be enforceable by or against the successors, assigns or transferees of each of the parties hereto. No party hereto may assign its rights under this Agreement. 3. ENTIRE AGREEMENT; AMENDMENTS. This Agreement, and such additional instruments as may be concurrently executed and delivered pursuant to this Agreement, constitutes the entire understanding of the parties with respect to its subject matter. There are no restrictions, agreements, promises, representations, warranties, covenants or undertakings other than those expressly set forth herein or in the documents delivered concurrently herewith. This Agreement may be amended only by a written instrument duly executed by all the parties hereto. 4. HEADINGS. The section headings contained in this Agreement are for reference purposes only and shall not effect in any way the meaning or interpretation of this Agreement. 5. NOTICES. All notices, requests, claims, demands and other communications hereunder shall be in writing and shall be given (and shall be deemed to have been duly given if so given) by hand delivery, facsimile or by mail (registered or certified, postage prepaid, return receipt requested) to the respective parties as follows: 2 If to Brigham: Brigham Exploration Company 6300 Bridge Point Parkway Building Two, Suite 500 Austin, Texas 78730 Attention: Ben M. "Bud" Brigham Fax No: (512) 427-3400 If to ESC, MB or MBP: Donaldson Lufkin & Jenrette 277 Park Avenue New York, New York 10172 Attention: Nicole Arnaboldi, Ivy Dodes Fax No: 212-892-2689 and Mr. Steve Webster 1000 Louisiana, Suite 4900 Houston, Texas 77002 Fax No: (713) 652-6050 with a copy to: Gardere Wynne Sewell, LLP 1000 Louisiana, Suite 3400 Houston, Texas 77002 Attention: N.L. Stevens III Telefax: 713-276-5807 If to DOP: DLJ Offshore Management N.V. John B. Gorsiraweg 14 Willemstad, Curacao Netherlands, Antilles Fax No: 011-599-961-4129 and Mr. Steve Webster 1000 Louisiana, Suite 4900 Houston, Texas 77002 Fax No: (713) 652-6050 with a copy to: Gardere Wynne Sewell, LLP 1000 Louisiana, Suite 3400 Houston, Texas 77002 Attention: N.L. Stevens III Telefax: 713-276-5807 3 If to Ben M. Brigham: Ben M. Brigham Brigham Exploration Company 6300 Bridge Point Parkway Building Two, Suite 500 Austin, Texas 78730 Fax No: (512) 427-3400 If to Anne L. Brigham: Anne L. Brigham Brigham Exploration Company 6300 Bridge Point Parkway Building Two, Suite 500 Austin, Texas 78730 Fax No: (512) 427-3400 If to Harold D. Carter: Harold D. Carter 5949 Sherry Lane, Suite 620 Dallas, Texas 75225 Fax No.: (214) 692-7820 If to General Atlantic Partners III, L.P.: General Atlantic Partners III, L.P. c/o General Atlantic Service Corporation 3 Pickwick Plaza Greenwich, CT 06830 Attention: Mr. Thomas J. Murphy Fax No: (203) 622-8818 If to GAP-Brigham Partners, L.P.: GAP-Brigham Partners, L.P. c/o General Atlantic Service Corporation 3 Pickwick Plaza Greenwich, CT 06830 Attention: Mr. Thomas J. Murphy Fax No: (203) 622-8818 If to GAP Coinvestment Partners II, L.P.: GAP Coinvestment Partners II, L.P. c/o General Atlantic Service Corporation 3 Pickwick Plaza Greenwich, CT 06830 Attention: Mr. Thomas J. Murphy Fax No: (203) 622-8818 4 If to Aspect Resources, LLC: Aspect Resources, LLC 511 16th Street, Suite 300 Denver, CO 80202 Attention: Mr. Alex Cranberg Fax No: (303) 573-7340 If to any of the officers of Brigham: Brigham Exploration Company 6300 Bridge Point Parkway Building Two, Suite 500 Austin, Texas 78730 Attention: [name of officer] Fax No: (512) 427-3400 or to such other address as the person to whom notice is given may have previously furnished to the others in writing in the manner set forth above. 6. GOVERNING LAW. This Agreement shall be governed by and construed and enforced in accordance with the laws of the State of Delaware, without reference to the conflict of laws principles thereof. 7. WAIVER. Any waiver by any party of a breach of any provision of this Agreement shall not operate as or be construed to be a waiver of any other breach of such provision or of any breach of any other provision of this Agreement. The failure of a party to insist upon strict adherence to any term of this Agreement on one or more occasions shall not be considered a waiver or deprive that party of the right thereafter to insist upon strict adherence to that term or any other term of this Agreement. 8. CHALLENGES TO AGREEMENT. In the event that any part of this Agreement or any transaction contemplated hereby is temporarily, preliminarily or permanently enjoined or restrained by court of competent jurisdiction, the parties hereto shall use their reasonable best efforts to cause any such injunction or restraining order to be vacated or dissolved or otherwise declared or determined to be of no further force or effect. 9. SPECIFIC PERFORMANCE. Each of the Shareholders acknowledges and agrees that irreparable harm would occur if any provision of this Agreement were not performed in accordance with the terms thereof, or were otherwise breached, and that such harm could not be remedied by an award of damages. Accordingly, each of the Shareholders agrees that any non-breaching party shall be entitled to an injunction to prevent breaches of this Agreement and to enforce specifically the terms and provisions hereof. 10. COUNTERPARTS. This Agreement may be executed in counterparts, each of which shall be an original, but each of which together shall constitute one and the same Agreement; 5 provided that signature pages from separate counterparts may be combined to form one or more fully executed original counterpart(s). * * * * * 6 IN WITNESS WHEREOF, and intending to be legally bound hereby, each of the undersigned parties has executed or caused this Agreement to be executed on the date first above written. BRIGHAM EXPLORATION COMPANY By: /s/ Karen E. Lynch ------------------------------- Name: Karen E. Lynch Title: Vice President /s/ Ben M. Brigham ----------------------------------- Ben M. Brigham /s/ Anne L. Brigham ----------------------------------- Anne L. Brigham /s/ Harold D. Carter ----------------------------------- Harold D. Carter 7 DLJ ESC II, L.P. a Delaware Limited Partnership ("ESC") By: DLJ LBO Plans Management Corporation General Partner By: /s/ ----------------------------------- Name: --------------------------------- Title: --------------------------------- DLJMB FUNDING III, INC. a Delaware Corporation ("MB") By: /s/ ----------------------------------- Name: --------------------------------- Title: --------------------------------- DLJ Merchant Banking Partners III, L.P. a Delaware Limited Partnership ("MBP") By: DLJ Merchant Banking III, Inc. Managing General Partner By: /s/ ----------------------------------- Name: --------------------------------- Title: --------------------------------- DLJ Offshore Partners III, C.V. a Netherlands Antilles Limited Partnership ("DOP") By: DLJ Merchant Banking III, Inc. Managing General Partner By: /s/ ----------------------------------- Name: --------------------------------- Title: --------------------------------- 7(a) GENERAL ATLANTIC PARTNERS III, L.P. By GAP III Investors, Inc. Its General Partner By: /s/ Stephen P. Reynolds --------------------------------- Name: Stephen P. Reynolds Title: President GAP-BRIGHAM PARTNERS, L.P. By: /s/ Stephen P. Reynolds --------------------------------- Name: Stephen P. Reynolds Title: General Partner GAP COINVESTMENT PARTNERS II, L.P. By: /s/ Thomas J. Murphy --------------------------------- Name: Thomas J. Murphy Title: Attorney-In-Fact ASPECT RESOURCES, LLC By Aspect Management Corporation Its Manager By: /s/ Alex Cranberg ----------------------------------- Name: Alex Cranberg Title: President /s/ Curtis F. Harrell --------------------------------------- Curtis F. Harrell 8 /s/ David T. Brigham --------------------------------------- David T. Brigham /s/ A. Lance Langford --------------------------------------- A. Lance Langford /s/ Jeffery E. Larson --------------------------------------- Jeffery E. Larson /s/ Karen E. Lynch --------------------------------------- Karen E. Lynch /s/ Christopher A. Phelps --------------------------------------- Christopher A. Phelps 9 Schedule I Number of Outstanding SHAREHOLDER SHARES OF COMMON STOCK - ----------- ---------------------- Ben M. and Anne L. Brigham, collectively 3,719,792 Harold D. Carter 314,893 General Atlantic Partners III, L.P. 2,679,418 GAP-Brigham Partners, L.P. 127,725 GAP Coinvestment Partners II, L.P. 975,610 Aspect Resources, LLC 487,805 Brigham Officers*: 233,186 (in the aggregate) Curtis F. Harrell David T. Brigham Lance Langford Jeffery E. Larson Karen E. Lynch Christopher A. Phelps * other than Ben M. Brigham -----END PRIVACY-ENHANCED MESSAGE-----