VOTING AGREEMENT, dated as of March 20, 2005 (this Agreement), among the stockholders listed on the signature page(s) hereto (collectively,
the Stockholders and each individually, a Stockholder), Pinnacle Systems, Inc., a California corporation (the Company) and Avid Technology, Inc., a Delaware corporation (the Buyer). 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, the Stockholders own of record and beneficially the shares of capital stock of the Buyer set forth on Schedule I hereto
(such shares, or any other voting or equity of securities of the Buyer hereafter acquired by any Stockholder prior to the termination of this Agreement, being referred to herein collectively as the Shares);
WHEREAS, concurrently with the execution of this Agreement, the Buyer and the
Company are entering into an Agreement and Plan of Merger, dated as of the date hereof (the Merger Agreement), pursuant to which, upon the terms and subject to the conditions thereof, a subsidiary of the Buyer will be merged with and
into the Company, and the Company will be the surviving corporation (the Merger); and
WHEREAS, as a condition to the willingness of the Company to enter into the Merger Agreement, the Company has required that the Stockholders agree, and in
order to induce the Company to enter into the Merger Agreement the Stockholders are willing, to enter into this Agreement.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements contained herein, and intending to be legally bound hereby, the
parties hereby agree, severally and not jointly, as follows:
Section 1. Voting of Shares.
(a) Each Stockholder covenants and agrees that until the termination of this Agreement in accordance with the terms hereof, at the Buyer Stockholders Meeting or any other meeting of the stockholders of the Buyer, however called, and in any
action by written consent of the stockholders of the Buyer, such Stockholder will vote, or cause to be voted, all of such Stockholders respective Shares in favor of the Buyer Voting Proposals.
(b) Each Stockholder hereby irrevocably grants to, and
appoints, the Company, and any individual designated in writing by it, and each of them individually, as his or her proxy and attorney-in-fact (with full power of substitution), for and in his or her name, place and stead, to vote such
Stockholders Shares at any meeting of the stockholders of the Buyer called with respect to any of the matters specified in, and in accordance and consistent with, this Section 1. Each Stockholder understands and acknowledges that the Company
is entering into the Merger Agreement in reliance upon the Stockholders execution and delivery of this Agreement. Each Stockholder hereby affirms that the irrevocable proxy set forth in this Section 1(b) is given in connection with the
execution of the Merger Agreement, and that such irrevocable proxy is given to secure the performance of the duties of such Stockholder under this