EX-99 148 c-39.txt EXC-39 REMAINING SHARES CALL OPTION AGREEMENT Exhibit C-39 Remaining Shares Call Option Agreement THIS CALL OPTION HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED, OR UNDER THE SECURITIES LAWS OF ANY STATE. NO TRANSFER, SALE OR OTHER DISPOSITION OF THIS CALL OPTION MAY BE MADE UNLESS A REGISTRATION STATEMENT WITH RESPECT TO THIS CALL OPTION (OR TO THE EXTENT EXERCISABLE, THE SHARES RECEIVED UPON EXERCISE OF THIS CALL OPTION) HAS BECOME EFFECTIVE UNDER SAID ACT; AND SUCH REGISTRATION OR QUALIFICATION AS MAY BE NECESSARY UNDER THE SECURITIES LAWS OF ANY STATE HAS BECOME EFFECTIVE, OR THE GRANTOR OF THIS CALL OPTION HAS BEEN FURNISHED WITH AN OPINION OF COUNSEL SATISFACTORY TO THE GRANTOR OF THIS CALL OPTION, THAT SUCH REGISTRATION IS NOT REQUIRED WITH RESPECT TO SUCH PROPOSED DISPOSITION THEREOF, AND THAT SUCH DISPOSITION WILL NOT CAUSE THE LOSS OF THE EXEMPTION UPON WHICH THE GRANTOR OF THIS CALL OPTION RELIED IN ISSUING THIS CALL OPTION TO THE ORIGINAL OWNER THEREOF. CALL OPTION to Purchase Common Stock of DTI Holdings, Inc., a Missouri corporation FOR VALUE RECEIVED, Richard D. Weinstein ("Grantor") hereby grants to KLT Telecom Inc. or its permitted assigns (such registered holder or holders of this Call Option or any related Call Option Shares (as defined below) are hereinafter referred to as "Optionholder") an irrevocable and exclusive Option to purchase ("Call Option") that number of Grantor's shares of common stock (the "Common Stock") of DTI Holdings, Inc. (the "Company") contemplated by Section 1.4 (the "Call Option Shares") of the Amended and Restated Agreement between the parties hereto, dated as of December 26, 2000, as amended as of January 18, 2001, to which the form of this Call Option is attached (the "Agreement"), as a whole, but not in part, pursuant to the terms set forth herein. 1. EXERCISE OF CALL OPTION 1.1 Term. This Call Option shall be exercisable at any time during the period commencing on September 1, 2005 and ending on September 1, 2007. 1.2 Method of Exercise. To exercise this Call Option in whole, but not in part, the Optionholder shall deliver to Escrow Agent (as defined in Section 4 below). (i) a duly executed written notice, in substantially the form of the Notice of Exercise attached hereto as Exhibit 1 (a copy of which shall be delivered to Grantor), (ii) payment of the Remaining Shares Call Exercise Price (as defined in Section 3 below) for each share of Common Stock purchased in cash, and (iii) this Call Option. The Escrow Agent shall as promptly as practicable, and in any event within 5 days after receipt of such notice, cause to be executed and delivered, in accordance with such notice, a certificate or certificates representing the aggregate number of shares of Common Stock specified therein. The stock certificate or certificates so delivered shall be issued in the name of the Optionholder or such other name as shall be designated by the Optionholder, as of the date the exercise notice is received by the Escrow Agent. 1.3 Expenses and Taxes. The Grantor shall pay all Call Option expenses, taxes and other charges payable in respect of the issue of this Call Option or the transfer of any stock certificates. 2. RESTRICTIONS ON EXERCISE AND TRANSFER; LEGEND; OWNERSHIP 2.1 Transfer. Subject to the New Shareholders Agreement and the Remaining Shares Put Option Agreement, the Optionholder shall not have the right to sell, hypothecate, pledge, donate, dispose of or otherwise transfer (collectively referred to hereinafter as a "Transfer") this Call Option or the Call Option Shares at any time, except as provided in this Section 2. 2.2 Restrictions Under Securities Act. Neither this Call Option nor the Call Option Shares have been registered under the Securities Act of 1933, as amended (the "Securities Act") or under the securities laws of any state. This Call Option may not be exercised and neither this Call Option nor the Call Option Shares, when issued, may be Transferred (i) if such action would constitute a violation of any federal or state securities laws or a breach of the conditions to any exemption from registration thereunder (including a loss of the exemptions under the Securities Act, or applicable state securities laws, on which the Grantor relied in issuing this Call Option) and (ii) unless and until one of the following has occurred: (1) registration of this Call Option or the Call Option Shares, as the case may be, under the Securities Act, and such registration or qualification as may be necessary under the securities laws of any state, has become effective, or (2) the Optionholder has delivered to the Grantor an opinion of counsel reasonably acceptable to the Grantor that such registration or qualification is not required and such action will not constitute a breach of the conditions to any exemption from registration thereunder (including a loss of the exemptions under the Securities Act, or applicable state securities laws, on which the Grantor relied in issuing this Call Option). 2.3 Ownership of Call Option. Grantor and Escrow Agent may deem and treat the person in whose name this Call Option is registered as the holder and owner hereof (notwithstanding any notations of ownership or writing hereon made by anyone) for all purposes and shall not be affected by any notice to the contrary. 3. EXERCISE PRICE Exercise Price. Upon the exercise of this Call Option, Optionholder shall pay an aggregate exercise price for all, but not less than all, of the Call Option Shares being purchased at a price determined in accordance with Section 1.4 of the Agreement (the "Remaining Shares Call Exercise Price"). 4. TRANSFER OF CALL OPTION SHARES TO ESCROW All of the Call Option Shares will be transferred and delivered with the signing of this Call Option to an agreed upon escrow agent (the "Escrow Agent"), pursuant to a mutually agreed upon escrow agreement (the "Escrow Agreement"). Such Escrow Agent will tender the Call Option Shares to Optionholder in accordance with the terms of this Call Option. 5. NOTICE Any notice or other document required or permitted to be given or delivered to the Optionholder shall be delivered at, or sent by certified or registered mail (return receipt requested) to such holder at the last address shown on the books of the Escrow Agent of which address such Optionholder shall have notified the Escrow Agent in writing. Any notice or other document required or permitted to be given or delivered to holders of record of outstanding Call Option Shares shall be delivered at, or sent by certified or registered mail to, each such Optionholder at such Optionholder's address as the same appears on the records of the Escrow Agent. Any notice or other document required or permitted to be given or delivered to the Grantor shall be delivered at or sent by certified or registered mail to 14222 Kinderhook Drive, Chesterfield, Missouri 63017, or such other address within the United States of America as shall have been furnished in writing by the Grantor to the Escrow Agent. Any notice or other document required or permitted to be given or delivered to the Escrow Agent shall be delivered at or sent by certified or registered mail to the address specified in the Escrow Agreement or such other address within the United States of America as shall have been furnished in writing by the Escrow Agent to Grantor and to Optionholder. Notices shall be deemed to have been received on the date of the actual receipt which, in the case of mailing, shall be the date of receipt shown on the return receipt. 6. LIMITATIONS OF LIABILITY; NOT SHAREHOLDERS No provision of this Call Option shall be construed as conferring upon the holder hereof the right to vote, consent, receive dividends or receive notice other than as herein expressly provided in respect of meetings of shareholders for the election of directors of the Company or any other matter whatsoever as a shareholder of the Company. No provision hereof, in the absence of affirmative action by the holder hereof to purchase shares of Common Stock, and no mere enumeration herein of the rights or privileges of the holder hereof, shall give rise to any liability of such holder for the purchase price of any Call Option Shares or as a shareholder of the Company, whether such liability is asserted by Grantor or Company, or by creditors of Grantor or Company. 7. LOSS, DESTRUCTION, ETC. OF CALL OPTION Upon receipt of evidence satisfactory to the Escrow Agent of the loss, theft, mutilation or destruction of the Call Option, and in the case of any such loss, theft or destruction upon delivery of a bond of indemnity in such form and amount as shall be reasonably satisfactory to the Escrow Agent and Grantor, or in the event of such mutilation upon surrender and cancellation of the Call Option, the Escrow Agent shall cause the Grantor to make and deliver a new Call Option, of like tenor, in lieu of such lost, stolen. destroyed or mutilated Call Option. 8. GENERAL PROVISIONS 8.1 Amendment. This Call Option may be amended only by agreement signed by both the Grantor and the Optionholder. 8.2 Successors and Assigns. This Call Option shall be binding upon and inure to the benefit of the Grantor and his successors and assigns and the Optionholder and its or his permitted successors and assigns. 8.3 Captions. The captions used in this Call Option are for convenience only and do not constitute a part of this Call Option or such Exhibits. 8.4 Complete Agreement. This Call Option and the Purchase Agreement contain the complete agreement between the parties relating to the matters referred to herein and supersede any prior understandings, agreements or representations by or between the parties, written or oral, which may have related to the subject matter hereof in any way. 8.5 Choice of Law. All questions concerning the construction, validity and interpretation of this Call Option and the Exhibits hereto shall be governed by the laws of the State of Missouri. 8.6 Definitions. Unless otherwise defined in this Call Option, all capitalized terms herein shall have the meaning ascribed to them in the Agreement. IN WITNESS WHEREOF, the Grantor has executed this Call Option this 6th day of February, 2001. /s/ Richard D. Weinstein Richard D. Weinstein