First Refusal Agreement优先取舍协议

-15-FirstRefusalAgreement优先取舍协议核心提示：ThisAgreement(theAgreement)hasbeenmadeandenteredintoasof_________,_________,_________(M/D/Y)byandamongBBBCorporation,a_________(PLACENAME)corporation(theCompany),TheAAA(AAA),pursuanttoitsauthorityasthecollectivebargaThisAgreement(theAgreement)hasbeenmadeandenteredintoasof_________,_________,_________(M/D/Y)byandamongBBBCorporation,a_________(PLACENAME)corporation(theCompany),TheAAA(AAA),pursuanttoitsauthorityasthecollectivebargainingrepresentativeforthecraftsorclassofpilotsemployedbyDDD,Inc.(United),andTheCCCandAerospaceWorkers(CCC),pursuanttoitsauthorityasthecollectivebargainingrepresentativeforthecraftsorclassesofmechanicsandrelatedemployees,rampandstoresemployees,foodserviceemployees,dispatchersandsecurityofficersemployedbyUnited,andtheSalaried/Man-agementEmployeeDirector(asdefinedinArticleFIFTH,Section1.66oftheRestatedCertificate(asdefinedbelow))onbehalfofthesalariedandmanagementemployeesofUnitedwhoarenotrepresentedbyanycollectivebargainingorganization(theSAM)(AAA,CCCandtheSAM,together,theEmployeeGroups).WHEREAS,pursuanttothetermsofandschedulestotheAgreementandPlanofRecapitalization,datedasof_________,_________,_________(M/D/Y),byandamongtheCompany,AAAandtheCCC(asamended,theRecapitalizationAgreement),includingthetermsoftherestatedcertificateofincorporationoftheCompanytobeeffectiveasoftheEffectiveTime(asdefinedintheRecapitalizationAgreement)(theRestatedCertificate),neither(i)aNon-DilutiveIssuance(asdefinedinArticleFIFTH,Section3.4(b)(vii)oftheRestatedCertificate)nor(ii)theissuanceofPermittedBankruptcyEquity(asdefinedinArticleFIFTH,Section3.4(b)(vii)(B)oftheRestatedCertificate)(aBankruptcyIssuance)shallconstituteanOtherExtraordinaryMatter(asdefinedinArticleFIFTH,Section3.4(b)oftheRestatedCertificate)if,amongotherthings,suchissuanceissubjecttotherightoffirstrefusalprovidedforhereunder;andWHEREAS,thepartiesheretohaveenteredintothisAgreementinordertoeffectuatethetermsandintentoftheRecapitalizationAgreementandtheRestatedCertificatewithrespecttotheCompany’sgrantofsuchrightoffirstrefusaltotheEmployeeGroupsinconnectionwithsuchNon-DilutiveIssuanceand/orsuchBankruptcyIssuance;NOW,THEREFORE,inconsiderationoftheforegoingpremises,themutBBBcovenantshereincontainedandothergoodandvaluableconsiderationthereceiptofwhichisherebyacknowledged,thepartiesheretoherebyagreeasfollows:1.RightofFirstRefusal.A.If,duringthetermofthisAgreement,theCompanyproposestoissueEquitySecurities(asdefinedinArticleFIFTH,Section1.37oftheRestatedCertificate)pursuanttoatransactionwhichwouldconstituteanOtherExtraordinaryMatterpursuanttoArticleFIFTH,Section3.4(b)oftheRestatedCertificateorwouldnotconstituteanOtherExtraordinaryMatterpursuanttoArticleFIFTH,Section3.4(b)(vii)(A)or(B)oftheRestatedCertificate(aProposedEquityIssuance),theCompany,priortomakingsuchProposedEquityIssuance,shallprovideeachoftheEmployeeGroupswithawrittenstatementofthespecifictermsofsuchProposedEquityIssuance(theProposedSaleNotice).EachoftheEmployeeGroupsshallthenhave30daystoprovidetotheCompanyabindingcommitmenttopurchaseuptoitsrespectiveProportionatePercentage(asdefinedinsubsectionDbelow)oftheEquitySecuritiesproposedtobeissuedinsuchProposedEquityIssuanceontermsthatareEquivalent(asdefinedinsubsectionEbelow)tothetermssetforthintheProposedSaleNotice(thePurchaseCommitment),andtheCompanyshallnotconsummatetheProposedEquityIssuanceduringsuch30dayperiod.IftheCompanyconsummatesaProposedEquityIssuancewithin180daysoftheendofthe30daynoticeperiodwithrespectthereto,itshallhonorallthetimelyPurchaseCommitmentsandshallreducetheamountofsecuritiesofferedpursuanttotheProposedEquityIssuancebytheamountofsecuritiescoveredbysuchPurchaseCommitments.B.Inadditiontoandnotinlimitationoftheforegoing,ifoneormoreEmployeeGroupssubmitaPurchaseCommitmentwithinthe30dayperiodprovidedforinsubsectionAaboveandanyotherEmployeeGroupeither(i)indicatesinwritingduringsuchperiodthatitdoesnotintendtosubmitaPurchaseCommitmentforallofitsProportionatePercentageoftheProposedEquityIssuanceor(ii)doesnotsubmitaPurchaseCommitmentforallofitsProportionatePercentageoftheProposedEquityIssuancewithinsuch30dayperiod,thentheCompany,priortoconsummatingaProposedEquityIssuance,mustprovideeachoftheEmployeeGroupsthatsubmittedaPurchaseCommitmentforallofitsProportionatePercentageoftheProposedEquityIssuancewiththeopportunitytoprovideanadditionalpurchasecommitmentwithrespecttotheportionoftheProposedEquityIssuancethatisnotsubjecttoaPurchaseCommitment(anAdditionalPurchaseCommitment)withinthelasttoexpireof(a)15daysafterreceiptofwrittennoticefromtheCompanyoftheopportunitytomakeanAdditionalPurchaseCommitmentand(b)theunexpiredportionofthe30dayperiodreferredtoinsubsectionAabovewhichremainsafterreceiptofwrittennoticefromtheCompanythatanyportionoftheProposedEquityIssuanceisnotsubjecttoaPurchaseCommitmentfromanyotherEmployeeGroup(suchlongerperiod,theAPCPeriod).TheCompanyshallnotconsummatetheProposedEquityIssuanceduringsuchAPCPeriodandiftheCompanyconsummatesaProposedEquityIssuancewithin180daysoftheendofthenoticeperiodreferredtointheprecedingsentence,itshallhonorallthetimelyAdditionalPurchaseCommitmentsandshallreducetheamountofsecuritiesofferedpursuanttotheProposedEquityIssuancetoanypersonorentityotherthantheEmployeeGroupsbytheamountofsecuritiescoveredbysuchAdditionalPurchaseCommitments.C.NotwithstandinganythingsetforthinsubsectionBtothecontrary,ifmorethanoneEmployeeGroupsubmitAdditionalPurchaseCommitmentswhichintheaggregateareinexcessofthesecuritiesbeingofferedpursuanttotheProposedEquityIssuance,theCompanyshallacceptsuchAdditionalPurchaseCommitmentsinproportiontotherelativeproportionthatsuchEmployeeGroupsProportionatePercentagesbeartoeachother;provided,however,thatinnoeventshallanyEmployeeGroupbeobligatedtopurchaseEquitySecuritiesinexcessoftheamountsetforthinitsAdditionalPurchaseCommitment.D.ForthepurposesofthisAgreement,ProportionatePercentageshallmean,foreachoftheEmployeeGroups,thefollowing:AAA:46.23%CCC:37.13%SAM:16.64%E.ForthepurposeofthisAgreement,Equivalentshallmean,inconnectionwithaProposedEquityIssuance,aPurchaseCommitmentonsubstantiallythesametermsasthatsetforthinaProposedSaleNotice.IfanyProposedSaleNoticeprovidesforconsiderationotherthancashtobepaidtotheCompany(theNon-CashConsideration),aPurchaseCommitmentmustprovideforconsiderationtobepaidtotheCompany,whetherincashorotherwise,withafairmarketvalue,asdeterminedbytheboardofdirectorsoftheCompany,eqBBBtotheNon-CashConsiderationtobepaidtotheCompanypursuanttotheProposedSaleNoticeinorderforsuchPurchaseCommitmenttobedeemedEquivalentforthepurposeofsubsectionAabove.F.IntheeventthatnoEmployeeGroupsubmitsaPurchaseCommitmentwithinthetimeperiodprovidedforinsubsectionAaboveorthePurchaseCommitmentsandAdditionalPurchaseCommitments,ifany,submittedareforlessthanallofthesecuritiesbeingofferedintheProposedEquityIssuance,theCompanymaythenconsummatetheProposedEquityIssuanceofsuchsecuritiesnotsubjecttoPurchaseCommitmentsorAdditionalPurchaseCommitmentsonlyuponthetermssetforthintheProposedSaleNotice.SuchProposedEquityIssuancemaynotbeconsummatedunlessitisconsummated(i)within180daysafterthelaterofthe30dayperiodprovidedforinsubsectionAaboveor,ifapplicable,theAPCPeriodprovidedforinsubsectionBaboveand(ii)onthespecifictermssetforthintheProposedSaleNotice.AnysubsequentProposedEquityIssuanceproposedbytheCompanyshallbesubjecttoeachoftheprovisionsandrequirementsofthisSection1asifthepriorProposedEquityIssuancethatwasnotconsummatedforanyreasonneverwasproposedbytheCompany.G.NotwithstandinganythingcontainedinthisSection1tothecontrary,theprovisionsofthisSection1shallbeinapplicabletoissuancesofEquitySecuritiesinaccordancewithArticleFIFTH,Subsection3.4(b)(vii)(C)oftheRestatedCertificate.H.TheSalaried/ManagementEmployeeDirectormayconsultwiththeseniorexecutiveofUnitedhavingresponsibilityforhumanresourcesconcerningtheexerciseofanyrightsunderthisAgreement.TheCompanyshallassisttheSalaried/ManagementDirectorintheexerciseofsuchrights,includingprovidingadministrativeandlogisticalsupportindisseminatingProposedSaleNoticestotheSalaried/ManagementEmployeesandcollatingandprocessinganyPurchaseCommitmentsandAdditionalPurchaseCommitmentsreceivedfromsuchemployeesand,ifrequested,shallsimilarlyassistAAAandtheCCC.I.Totheextentconsistentwithitspoliciesandpractices,Unitedmay,butshallnotbeobligatedto,assisttheSAMEmployeeGroup(tothesameextentthateitheroftheotherEmployeeGroupsassistsitsmembers)intheexerciseoftheirrightsunderthisAgreementinordertoenablethemtoconsummatetheirPurchaseCommitmentsmadehereunder.2.Term.ThisAgreementshallterminateandbeofnofurtherforceoreffectupontheTerminationDate(asdefinedintheRestatedCertificate).3.Assignments.Allright,titleandinterestinandto,andallbenefitsandobligationsarisingunder,thisAgreementmaybeassignedinwholeorinpartbyanyoftheEmployeeGroupstoanyoftheExistingPlansand/ortheESOPs(asdefinedinArticleFIFTH,Sections1.41and1.39oftheRestatedCertificate,respectively)withouttheconsentofanyotherpartyheretoandmaynototherwisebeassigned.4.BindingEffect.TheprovisionsofthisAgreementshallbebindinguponandinuretothebenefitofthepartiesheretoandtheirrespectivesuccessorsandassigns.ThisAgreementisbeingenteredintoforthebenefitofthepartieshereto(otherthantheSalaried/ManagementDirector)andfortheEmployeeGroupsnamedherein.TheSalaried/ManagementDirectorisnotapartytothisAgreementinapersonalcapacitybutonlyinthecapacityoftheSalaried/ManagementDirectorasthenominalrepresentativeoftheSAMEmployeeGrouptoacknowledgetheiracceptanceofthebenefitsofthisAgreement.UponthereplacementoftheindividBBBnamedhereinastheSalaried/ManagementDirector,eachsuchsuccessortotheofficeofSalaried/ManagementDirector,ratherthantheindividBBBnamedherein,shallbeauthorizedtoacthereunderastheSalaried/ManagementDirector.Thepartieshereto,onbehalfofthemselvesandtheEmployeeGroupsthattheyrepresent,agreethattheSalaried/ManagementDirector,andthesuccessorSalaried/ManagementDirectors,shallnothaveanypersonalliabilityunderthisAgreement.5.GoverningLaw.ThisAgreementshallbeconstruedinaccordancewithandgovernedbythelawsoftheStateof_________(PLACENAME)withoutregardtotheconflictsoflawsprinciplesthereof.6.Counterparts.ThisAgreementmaybesignedinanynumberofcounterparts,eachofwhichshallbeanoriginal,withthesameeffectasifthesignaturetheretoandheretowereuponthesameinstrum