EXHIBIT 10.4
ENCORE VENTURE PARTNERS II (TEXAS), L.P.
LIMITED PARTNERSHIP AGREEMENT
TABLE OF CONTENTS
Page
ARTICLE I. GENERAL PROVISIONS..........................................1
Section 1.1. Certain Definitions...................................1
Section 1.2. Partnership Name......................................5
Section 1.3. Fiscal Periods........................................5
Section 1.4. Principal Office......................................5
Section 1.5. Purposes of the Partnership...........................5
Section 1.6. Restrictions on Assignability.........................5
Section 1.7. Registered Office and Agent in Delaware...............6
ARTICLE II. MANAGEMENT OF PARTNERSHIP..................................6
Section 2.1. Management Generally..................................6
Section 2.2. Authority of Each General Partner.....................6
Section 2.3. Matters Requiring the Consent of the Majority
General Partners......................................7
Section 2.4. Matters Requiring the Consent of All the General
Partners..............................................8
Section 2.5. Reliance by Third Parties.............................8
Section 2.6. Activities of Class A General Partner.................8
Section 2.7. Exculpation...........................................9
Section 2.8. Indemnification of Partners...........................9
Section 2.9. Payment of Costs and Expenses........................10
Section 2.10. Management Fee......................................10
ARTICLE III. CAPITAL ACCOUNTS OF PARTNERS AND OPERATION THEREOF.......11
Section 3.1. Capital Contributions and Calls......................11
Section 3.2. Capital Accounts.....................................12
Section 3.3. Interest.........................................