Class SAM Preferred Stockholders‘’Agreement优先股股东协议

-24-ClassSAMPreferredStockholders’’Agreement优先股股东协议核心提示：ThisAgreement(theAgreement)hasbeenmadeandenteredintoasof_________,_________,_________(M,D,Y),byandamongAAACorporation,a_________(PLACENAME)corporation(theCompany),_________(NAME)(theDesignatedNominee)and_________(NAME)(thThisAgreement(theAgreement)hasbeenmadeandenteredintoasof_________,_________,_________(M,D,Y),byandamongAAACorporation,a_________(PLACENAME)corporation(theCompany),_________(NAME)(theDesignatedNominee)and_________(NAME)(theDesignatedStockholder).WHEREAS,pursuanttothetermsofandschedulestotheAgreementandPlanofRecapitalization,datedasof_________,_________,_________(M,D,Y),byandamongtheCompany,theCCC,International(CCC)andtheDDD(DDD)(asamended,theRecapitalizationAgreement),includingthetermsoftherestatedcertificateofincorporationoftheCompanytobeeffectiveasoftheEffectiveTime(asdefinedintheRecapitalizationAgreement)(theRestatedCertificate)andtherestatedBy-LawsoftheCompanytobeeffectiveasoftheEffectiveTime(theRestatedBy-Laws)(theRecapitalizationAgreement,theRestatedCertificateandtheRestatedBy-Laws,collectively,theGovernanceDocuments),theboardofdirectorsoftheCompany(theBoard)shall,untiltheTerminationDate(asdefinedintheRestatedCertificate),consistoftwelve(12)directors(subjecttoadjustmentincertaincircumstances),one(1)ofwhomshallbethedesignatedrepresentative(theSalaried/ManagementDirector)ofthesalariedandmanagementemployeesofUnitedAirlines,Inc.(United),nominatedandelectedand/orappointedasprovidedintheGovernanceDocumentsandinthisAgreement;WHEREAS,theGovernanceDocumentscontemplatethatattheEffectiveTime,theCompanyshallissuetotheDesignatedNomineeandtheDesignatedStockholder,andeachofthemshallbetheregisteredholderof,twosharesandoneshare,respectively,oftheClassSAMJuniorPreferredStock,parvalue$,_________pershare,oftheCompany(theClassSAMPreferredStock),eachsuchshareofClassSAMPreferredStockhavingtherelativerights,privilegesandpowersassetforthintheRestatedCertificate(theholdersoftheClassSAMPreferredStockfromtimetotimearereferredtoindividuallyhereinasaClassSAMPreferredStockholderandarecollectivelyreferredtohereinastheClassSAMPreferredStockholders);WHEREAS,theGovernanceDocumentscontemplatethatClassSAMPreferredStockmaybeheldonlybytheSalaried/ManagementEmployeeDirectorandbyadesignatedadditionalshareholder,eachofwhomshallbeaClassSAMPreferredStockholder;WHEREAS,pursuanttotheClassSAMPreferredStockSubscriptionAgreementdated_________,_________,_________(M,D,Y),byandamongtheCompany,theDesignatedNomineeandtheDesignatedStockholder,theCompanyissellingtotheDesignatedNomineeandtheDesignatedStockholder,andtheDesignatedNomineeandtheDesignatedStockholderareeachpurchasingfromtheCompany,twosharesandoneshare,respectively,ofClassSAMPreferredStock;andWHEREAS,thepartiesheretohaveenteredintothisAgreementinordertoeffectuatethetermsandintentoftheGovernanceDocumentsregardingtheissuanceoftheClassSAMPreferredStock.NOW,THEREFORE,inconsiderationoftheforegoingpremises,themutualcovenantshereincontainedandothergoodandvaluableconsiderationthereceiptofwhichisherebyacknowledged,thepartiesheretoherebyagreeasfollows:1.EffectiveDate;Term.ThisAgreementshallbecomeeffectivesimultaneouswiththeEffectiveTimeandshallremainineffectinaccordancewiththetermshereofuntiltheearlierof(i)thetenthanniversaryoftheEffectiveTimeorsuchlaterdatetowhichthedurationofthisAgreementshallbepermittedundertheGeneralCorporationLawoftheStateof_________(PLACENAME)(theGCL),asthesamemayhereafterfromtimetotimebeamended,itbeingtheexpressintentionofthepartiesheretothatthisAgreementshallremainineffect(subjecttoclause(ii)ofthisSection1)formorethanten(10)yearsifpermittedunder,andforaslongaspermittedunder,theGCL,asamendedfromtimetotime,and(ii)thefirsttooccuroftheCCCTerminationDateandtheDDDTerminationDate(eachasdefinedinArticleFIFTHoftheRestatedCertificate).2.VotingforElectionoftheSalaried/ManagementEmployeeDirector;FillingofVacancies.AtallelectionsfortheSalaried/ManagementEmployeeDirector,whetheratameetingofshareholdersorpursuanttoactionbywrittenconsentwithoutameeting,eachClassSAMPreferredStockholdershallvote,oractbywrittenconsentwithrespectto,eachshareofClassSAMPreferredStockheldbysuchClassSAMPreferredStockholderinfavorofthecandidateforSalaried/ManagementEmployeeDirectornominatedpursuanttoSection8ofthisAgreement.IntheeventofavacancyoftheseatoftheSalaried/ManagementEmployeeDirector,otherthanuponthescheduledexpirationofthetermontheBoardoftheSalaried/ManagementEmployeeDirector,itisagreedthatsuchvacancyshallbefilledwithacandidatenominatedpursuanttoSection8ofthisAgreement.3.GrantofProxy.EachClassSAMPreferredStockholderdoesherebyconstituteandappointeachoftheotherpartieshereto(includingtheotherClassSAMPreferredStockholder),otherthantheCompany,ashisorherproxytovoteand/ortoactbywrittenconsentwithrespecttoallofthesharesofClassSAMPreferredStockownedbysuchClassSAMPreferredStockholderinaccordancewiththeprovisionsofthisAgreementintheeventthatsuchClassSAMPreferredStockholdershallfailtodoso,tothesameextentandwiththesameeffectassuchClassSAMPreferredStockholdercoulddoso.TheproxyherebygrantedbyeachClassSAMPreferredStockholderisgiveninconsiderationoftheproxyherebygrantedbyeachotherClassSAMPreferredStockholderandinconsiderationoftheothermutualcovenantshereincontained,andassuchtheproxygrantedherebybyeachClassSAMPreferredStockholderiscoupledwithaninterestandshallbeirrevocableforsolongassuchClassSAMPreferredStockholderremainsaholderofClassSAMPreferredStock.4.RestrictionsonTransferoftheClassSAMPreferredStock.ExceptasprovidedinSections5and8(c)hereof,aClassSAMPreferredStockholdermaynotsell,transfer,pledge,assign,hypothecateorotherwisedisposeofanyinterestin(each,aDisposition)anyshareofClassSAMPreferredStock,including,withoutlimitation,byoperationoflaworotherwise.AnypurportedDispositionofanyshareofClassSAMPreferredStockinviolationofthisSection4shallbenullandvoidandofnoforceandeffectastotheproposedtransfereeand,uponanysuchpurportedDisposition,suchshareofClassSAMPreferredStockshallbeautomaticallyredeemedbytheCompanyasprovidedin,andsubjectto,ArticleFOURTH,PartIX,Sections1.2and9oftheRestatedCertificate(theAutomaticRedemption).ThecertificatesevidencingthesharesofClassSAMPreferredStockshallbearalegenddescribingthetransferandvotingrestrictionsandAutomaticRedemptionsetforthinthisAgreement,aswellasanyotherrestrictionsimposedbytheRestatedCertificateoftheRestatedBy-Laws.5.ReturnoftheSharesofClassSAMPreferredStock;ResignationofanyNon-NominatedDirector.NotwithstandinganythingcontainedinSection4ofthisAgreementtothecontrary,theDesignatedNominee,immediatelyupon(i)theexpirationofhisorhertermofofficeastheSalaried/ManagementEmployeeDirector(unlessconcurrentlytherewithsuchindividualisre-electedforanadditionaltermastheSalaried/ManagementEmployeeDirector),(ii)hisorherremovalastheSalaried/ManagementEmployeeDirectorpursuanttoArticleFIFTH,Section2.8oftheRestatedCertificateorpursuanttothepenultimatesentenceofthisSection5,(iii)hisorherresignationastheSalaried/ManagementEmployeeDirector,(iv)hisorherceasingtoserveastheSalaried/ManagementEmployeeDirectorforanyreasonwhatsoever,(v)hisorherdisqualificationpursuanttoSection8(d)ofthisAgreement,or(vi)hisorherfailuretobere-nominatedtocontinuetoserveastheSalaried/ManagementEmployeeDirectorpursuanttoSection8ofthisAgreement(inanysuchcase,theTerminatedDirector),shalldeliverorcausetobedelivered,inexchangeforthepaymentoftheparvalueofeachsharesodelivered,thestockcertificaterepresentingsuchClassSAMPreferredStockholder’ssharesofClassSAMPreferredStock,dulyendorsedfortransfer,to(a)suchindividual’selectedorappointedsuccessorastheSalaried/ManagementEmployeeDirector,uponsuchsuccessorexecutinganddeliveringanagreementintheformofExhibitBhereto,or(b)inthecasewherenosuchsuccessorSalaried/ManagementEmployeeDirectorhasbeenelectedorappointedconcurrentlywithsuchindividual’sremoval,resignation,disqualificationpursuanttoSection8(d)ofthisAgreementorfailuretobere-nominatedorotherwiseceasingtoserveastheSalaried/ManagementEmployeeDirector,totheCompany,tobeheldinescrowtobedeliveredtothesuccessorofsuchTerminatedDirectorwhensuchsuccessor(x)isdulyelectedorappointed,asthecasemaybe,and(y)executesanddeliversanagreementintheformofExhibitBhereto.TheCompanyshallimmediatelyeffectanAutomaticRedemptionwithrespectto,orifsuchAutomaticRedemptionisnotapplicable,theTerminatedDirectorshallsellandtheCompany,subjecttolegallyavailablefundstherefor,shallpurchase,allsharesofClassSAMPreferredStockofanyTerminatedDirectorwhofailstocomplywiththetransferrequirementsofthisSection5andshall(subjecttothefollowingsentence)transferorre-issuesuchredeemedorpurchasedsharestosuchTerminatedDirector’ssuccessoruponsuchsuccessorexecutinganddeliveringanagreementintheformofExhibitBannexedhereto.IfsuchTerminatedDirector’ssuccessoriselectedorappointedandexecutesanddeliversanagreementintheformofExhibitBannexedheretopriortosuchAutomaticRedemptionorpurchasebytheCompany,theCompanyshallissuetosuchsuccessortwosharesofClassSAMPreferredStockuponthepaymentoftheparvaluethereof.Inaddition,iftheDesignatedNomineefailstobere-nominatedastheSalaried/ManagementEmployeeDirectorpursuanttoSection8ofthisAgreement,suchindividualshallimmediatelyresignfromtheBoardandifsuchindividualfailstosoimmediatelyresignfromtheBoard,eachoftheClassSAMPreferredStockholders(includingtheClassSAMPreferredStockholderwhohasfailedtosoimmediatelyresignfromtheBoard)shallpromptlyvote(oractbywrittenconsentwithrespectto)theirsharesofClassSAMPreferredStocktoimmediatelyremovesuchindividualfromtheBoard,withoutcause.ATerminatedDirectorwhoresignsfrom,isremovedfromorotherwiseceasestobeamemberoftheBoardandotherwisecomplieswiththeprovisionsofthisSection5shallnolongerbedeemedtobeapartytothisAgreement.6.ReplacementSalaried/ManagementEmployeeDirector.Immediatelyupontheelectionorappointment(asthecasemaybe)ofanindividualtoreplaceorsucceedanyTerminatedDirector,suchindividualshallexecuteanddelivertotheCompanyandtheremainingpartiesheretoanagreement(intheformofExhibitBannexedhereto)agreeingtobeboundbyeachofthetermsofthisAgreement,andfromandaftertheexecutionanddeliveryofsuchagreement,suchindividualshallbedeemedtobeapartytothisAgreement.Shouldanyindividualwhohasbeenelectedorappointed,asthecasemaybe,astheSalaried/ManagementEmployeeDirectorfaileither(i)tobecomeaClassSAMPreferredStockholderor(ii)toexecuteanddeliveranagreementintheformofExhibitBannexedhereto,eachoftheClassSAMPreferredStockholdersshallvote(oractbywrittenconsentwithrespectto)theirsharesofClassSAMPreferredStocktoremovesuchpersonastheSalaried/ManagementEmployeeDirector,withoutcause.7.MandatoryExtensions.Notlaterthantwoyearspriortothedate,ifany,onwhichthisAgreementwouldotherwiseexpirepursuanttoclause(i)ofSection1ofthisAgreement,theCompanyandtheClassSAMPreferredStockholdersshallexecuteanddelivertoeachotheranextensionofthisAgreementforaperiodoftimeequaltothelongestperiodthenpermittedbylaw,butinnoeventbeyondthefirsttooccuroftheCCCTerminationDateandtheDDDTerminationDate.ShouldanyClassSAMPreferredStockholderfailtoexecuteanddelivertheextensionofthisAgreementrequiredbythisSection7(aNon-ExtendingStockholder),eachClassSAMPreferredStockholder,includingeachNon-ExtendingStockholder,shallvote(oractbywrittenconsentwithrespectto)theirsharesofClassSAMPreferredStocktoremovesuchNon-ExtendingStockholderfromtheBoard,withoutcause,ifsuchNon-ExtendingStockholderistheSalaried/ManagementEmployeeDirector.8.NominationandElectionoftheSalaried/ManagementEmployeeDirector.(a)TheDesignatedNomineenamedhereinshallbetheinitialDesignatedNomineehereunder,andtheDesignatedStockholdernamedhereinshallbetheinitialDesignatedStockholderhereunder,eachofwhomshallserveinsuchcapacityuntilareplacementisnamedpursuanttothisSection8.(b)TheDesignatedNomineeshallbetheinitialcandidateforelectionastheSalaried/ManagementEmployeeDirectorandshallserveinsuchcapacityuntilanothercandidateiselectedorappointedtobethereplacementDesignatedNominee(theReplacementDesignatedNominee)inaccordancewiththeproceduresidentifiedinExhibitAhereto.Uponsuchelectionorappointment,theDesignatedNomineeshalltransfertheshareofClassSAMPreferredStockheldbyhimorhertotheReplacementDesignatedNomineeforapurchasepriceequaltotheparvaluethereof,andtheReplacementDesignatedNomineeshallpurchasesuchshareandshallexecuteanddeliveracopyofanagreementintheformofExhibitBhereto,asprovidedelsewhereherein.Thereupon,theReplacementDesignatedNomineeshallbecometheDesignatedNomineehereunderforallpurposes,andtheDesignatedNomineeandtheDesignatedStockholder,asClassSAMPreferredStockholders,shallvotetoelectsuchDesignatedNomineeastheSalaried/ManagementEmployeeDirector,asprovidedelsewhereherein.InthecaseofavacancyoftheBoardseatfortheSalaried/ManagementEmployeeDirector,acandidateforelectionshallbeidentifiedinaccordancewiththeproceduresinExhibitAastheSalaried/ManagementEmployeeDirector,andsuchpersonshallbecometheReplacementDesignatedNomineehereunder.(c)TheDesignatedStockholdershallserveinsuchcapacityuntilanothercandidateisnominatedtobethereplacementDesignatedStockholder(theReplacementDesignatedStockholder)inaccordancewiththeprocedureidentifiedinExhibitAhereto.Uponsuchnomination,theDesignatedStockholdershalltransfertheshareofClassSAMPreferredStockheldbyhimorhertotheReplacementDesignatedStockholderforapurchasepriceequaltotheparvaluethereof,andtheReplacementDesignatedStockholdershallpurchasesuchshareandshallexecuteanddeliveracopyofanagreementintheformofExhibitBhereto,asprovidedelsewhereherein.Thereupon,theReplacementDesignatedStockholdershallbecometheDesignatedStockholderhereunderforallpurposes.TheDesignatedStockholderagreestosellandtheCompanyagreestopurchase(whichmaybebyredemption)allsharesofClassSAMPreferredStockofanyDesignatedStockholderwhofailstocomplywiththetransferrequirementsofthisSection8(c)bypayingtheparvalueofeachsharebeingpurchasedtosuchDesignatedStockholderandshall(subjecttothefollowingsentence)transferorre-issuesuchpurchasedsharestotheReplacementDesignatedStockholderuponsuchReplacementDesignatedStockholderexecutinganddeliveringanagreementintheformofExhibitBannexedhereto.IfsuchReplacementDesignatedStockholderexecutesanddeliversanagreementintheformofExhibitBannexedheretopriortosuchpurchasebytheCompany,theCompanyshallissuetosuchsuccessoroneshareofClassSAMPreferredStockuponthepaymentoftheparvaluethereof.(d)AnypersonwhoisotherwisenotdisqualifiedpursuanttothetermsofthisAgreementshallbequalifiedtobecometheDesignatedNomineeortheDesignatedStockholderhereunder.Notwithstandinganythingintheforegoingportionofthisparagraph(d)tothecontrary,anypersonwho,asaClassSAMPreferredStockholder,hasfailedtovotetheshareorsharesofClassSAMPreferredStockforthecandidateforelectionastheSalaried/ManagementEmployeeDirectornominatedbytheSystemRoundtableshallbedisqualifiedhereunderfromservingaseitheraDesignatedNomineeoraDesignatedStockholderthereafterunlesssuchdisqualificationisthereafterliftedbytheSystemRoundtable.(e)TheSystemRoundtableshallcommunicateitsactionsbywrittennotice(orcommunicatedorallyandconfirmedinwriting),giveninperson,sentbyfacsimiletransmissionorotherelectronicmediumorsentbyovernightexpressservicetotheaddressesthatthepartiesheretoshallprovideinwritingtotheSystemRoundtablefromtimetotime.(f)TheSystemRoundtableistheintendedthird-partybeneficiaryofthisAgreement,andthepartiesheretoagreeforthebenefitoftheSystemRoundtable,howeverconstituted,thattheyshallperformtheirrespectiveagreementshereunder.TheSystemRoundtableandthemembersthereofshallnotbeliabletoanypersononaccountofanyactionitortheymaytakepursuanttothetermsofthisAgreement.9.WaiverofClaims.ExceptasprovidedinSection13,eachClassSAMPreferredStockholderherebywaivesanyandallclaims,whetherfordamagesorotherwise,whichsuchindividualmayotherwisehaveagainstanypersonorentityinconnectionwithsuchpersonorentityperformingthetermsof,orotherwiseactinginaccordancewith,thisAgreement.10.BindingEffect.TheprovisionsofthisAgreementshallbebindinguponandinuretothebenefitofthepartiesheretoandtheirrespectivesuccessorsandassigns(and,inthecaseofadeceasedClassSAMPreferredStockholder,suchindividual’sestateandheirs),providedthatnopartymayassign,delegateorotherwisetransferanyofitsrightsorobligationsunderthisAgreementexceptasprovidedherein.11.GoverningLaw.ThisAgreementshallbeconstruedinaccordancewithandgovernedbythelawsoftheStateof_________(PLACENAME),withoutregardtotheconflictsoflawsprinciplesthereof.12.Counterparts.ThisAgreementmaybesignedinanynumberofcounterparts,eachofwhichshallbeanoriginal,withthesameeffectasifthesignaturetheretoandheretowereuponthesameinstrument.13.SpecificPerformance.ThepartiesheretoagreethatifanyoftheprovisionsofthisAgreementwerenotperformedinaccordancewiththeirspecifictermsorwereotherwisebreached,irreparabledamagewouldoccur,noadequateremedyoflawwouldexistanddamageswouldbedifficulttodetermine,andthatthepartiesshallbeentitledtospecificperformanceofthetermshereof,inadditiontoanyotherremedyatlaworequity.14.Amendments.ThisAgreementmaynotbeamendedormodifiedunlesssuchamendmentormodification(i)isapprovedinwritingbytheCompanyandeachthenexistingClassSAMPreferredStockholderand(ii)isconsentedtobytheIndependentDirectorsandtheOutsidePublicDirectors(eachasdefinedintheRestatedCertificate).15.EntireAgreement.ThisAgreement,togetherwiththeClassSAMPreferredStockSubscriptionAgreement,constitutestheentireagreementbetweenthepartiesheretowithrespecttothesubjectmatterhereofand,exceptasotherwisecontemplatedhereby,supersedesallotherprioragreementsandunderstandings,bothwrittenandoral,betweenthepartiesheretowithrespecttothesubjectmatterhereof.INWITNESSWHEREOF,thepartiesheretohaveexecutedthisAgreementasofthedatefirstabovewritten.AAACORPORATIONBy:_________By:_________Name:_________Name:_________Title:_________Title:_________EXHIBITATOTHECLASSSAMPREFERREDSTOCKHOLDERS’AGREEMENTSALARIED/MANAGEMENTEMPLOYEESDIRECTORANDDESIGNATEDSTOCKHOLDERSELECTIONPROCESS*TheSalaried/ManagementEmployeesDirectorshallbenominate