EXHIBIT 99.3
THE WARRANT ISSUED PURSUANT TO THIS WARRANT AGREEMENT HAS NOT BEEN REGISTERED
UNDER THE SECURITIES ACT OF 1933 OR ANY STATE SECURITIES LAWS. IT MAY NOT BE
SOLD OR OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE TRANSFERRED IN THE
ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT UNDER SAID ACT AND APPLICABLE
STATE SECURITIES LAWS UNLESS THE COMPANY HAS RECEIVED AN OPINION OF COUNSEL
REASONABLY SATISFACTORY TO THE COMPANY THAT SUCH REGISTRATION IS NOT REQUIRED TO
EFFECTUATE SUCH TRANSACTION.
WARRANT AGREEMENT
To Purchase
26,947,368
Shares of Common Stock
Dated as of February 6, 2001
▇▇▇▇▇▇▇▇▇.▇▇▇ INCORPORATED
a Delaware Corporation
Issue Date: February 6, 2001
THIS CERTIFIES THAT, Delta Air Lines, Inc. (the "WARRANT HOLDER"), with a place
of business at ▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Airport,
▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇, for value received, is entitled, upon the terms and
subject to the conditions of this Warrant Agreement (this "WARRANT AGREEMENT"),
to subscribe for and purchase fully-paid and non-assessable shares of common
stock, par value $.008 per share (the "COMMON STOCK"), of ▇▇▇▇▇▇▇▇▇.▇▇▇
Incorporated, a Delaware corporation (the "COMPANY").
1. ISSUANCE OF WARRANTS. On the Issue Date, by virtue of this Warrant
Agreement, the Warrant Holder is the holder of warrants (the "WARRANTS") to
acquire 26,947,368 shares of the Common Stock (the "SHARES") (subject to
adjustment as hereinafter provided pursuant to Section 10).
2. EXERCISE PRICE. The Warrants have an exercise price of $2.96875 per
share of Common Stock, as may be adjusted pursuant to the provisions of Section
10 of this Warrant Agreement (the "EXERCISE PRICE"). The Exercise Price shall be
paid by Warrant Holder by surrendering shares of Series B Redeemable Preferred
Stock, par value $0.01, of the Company (the "PREFERRED STOCK"). The number of
shares of Preferred Stock to be surrendered per share of Common Stock by Warrant
Holder as payment of the Exercise Price shall be determined by dividing the
Exercise Price by $1000 (the Stated Amount per share of Preferred Stock).
3. TERM. The Warrants are fully vested and exercisable on the Issue Date.
Except as otherwise provided herein, the term of the Warrants and the right to
purchase Shares as granted herein shall be exercisable until the close of
business on the sixth (6th) anniversary of the Issue Date or, if earlier, on the
date that all the then-outstanding shares of Preferred Stock issued to the
Warrant Holder on the date hereof (or any replacements therefor) are redeemed
pursuant to Section 6(A) of the Certificate of Designations of the Preferred
Stock, at which point the Warrants shall expire (the "TERMINATION DATE"). If at
the Termination Date the Company fails to redeem any outstanding shares of
Preferred Stock in accordance with the terms thereof, the Termination Date shall
be extended until the Company so redeems such shares.
4. MANDATORY EXERCISE. At any time that the closing sales price of the
Common Stock (as adjusted for stock splits, subdivisions, combinations,
recapitalizations and other similar changes) on the principal U.S. exchange on
which such securities are then listed, which for purposes of this Warrant
Agreement shall include the Nasdaq Stock Market or the Nasdaq SmallCap Stock
Market, during the regular session of trading and not reported late has exceeded
$8.90625 for twenty consecutive trading days after the Issue Date, all Warrants
shall automatically, without any action on the part of any person, be deemed to
have been exercised by the Warrant
Holder; PROVIDED, HOWEVER, that if the exercise of any Warrant would be
prohibited by applicable law at such time, then such Warrant shall automatically
be deemed to be exercised as soon thereafter as is not so prohibited. Upon such
automatic exercise, the shares of Preferred Stock held by the Warrant Holder
constituting the Exercise Price shall, in accordance with their terms,
automatically be converted into the right to receive the Shares pursuant to the
Warrants.
5. EXERCISE OF PURCHASE RIGHTS. The purchase rights represented by this
Warrant Agreement are exercisable by the Warrant Holder, in whole or in part,
subject to the terms of Section 4 above, at any time, or from time to time
during the period set forth in Section 3 above, by tendering to the Company at
its principal office a duly completed and executed notice of exercise in the
form attached hereto as EXHIBIT A (the "NOTICE OF EXERCISE") and the Warrant
certificate, each having been duly indorsed to the Company, and the Exercise
Price in the form set forth in Section 2 above (including, if applicable, the
Preferred Stock certificate(s) duly endorsed to the Company). Upon receipt of
such items, the Company shall issue to the Warrant Holder a certificate for the
number of shares of Common Stock purchased. The Warrant Holder, upon exercise of
the Warrants, shall be deemed to have become the holder of the Shares
represented thereby (and such Shares shall be deemed to have been issued)
immediately prior to the close of business on the date or dates upon which the
Warrants are exercised. In the event of any exercise of the rights represented
by the Warrants, certificates for the Shares so purchased shall be delivered to
the Warrant Holder or its designee as soon as practical and in any event within
ten (10) business days after receipt of such notice and, unless the Warrants
have been fully exercised or expired, new Warrants representing the remaining
portion of the Warrants and the underlying Shares, if any, with respect to which
this Warrant Agreement shall not then have been exercised shall also be issued
to the Warrant Holder as soon as possible and in any event within such ten-day
period.
6. RESERVATION OF SHARES. The Company will at all times have authorized
and reserved a sufficient number of shares of Common Stock to provide for the
exercise of the rights to purchase the Shares as provided in this Warrant
Agreement. All of the Shares shall be duly authorized and, when issued upon such
exercise, shall be validly issued, fully paid and nonassessable, and free and
clear of all preemptive rights.
7. NO FRACTIONAL SHARES. No fractional shares or scrip representing
fractional shares shall be issued upon the exercise of the Warrant Holder's
rights to purchase the Shares.
8. NO RIGHTS AS SHAREHOLDER. This Warrant Agreement does not entitle the
Warrant Holder to any voting rights or other rights as a shareholder of the
Company with respect to the underlying Shares prior to the exercise of the
Warrant Holder's rights to purchase the Shares as provided for herein.
9. REDEMPTION. The Warrants represented by this Warrant Agreement are not
redeemable by the Company.
10. ADJUSTMENT RIGHTS. The Exercise Price and the number of shares of
Common Stock purchasable hereunder are subject to adjustment from time to time,
as follows:
(a) MERGER. If at any time there shall be a merger or consolidation
of the Company with or into another corporation when the Company is not the
surviving corporation, then, as part of such merger or consolidation, lawful
provision shall be made so that the holder of the Warrants evidenced hereby
shall thereafter be entitled to immediately exercise the Warrants upon payment
of the aggregate Exercise Price and shall receive the number of shares of stock
or other securities or property of the successor corporation resulting from such
merger or consolidation, to which a holder of the stock deliverable upon
exercise of the rights granted in this Warrant Agreement would have been
entitled in such merger or consolidation if such rights had been exercised
immediately before such merger or consolidation. In any such case, appropriate
adjustment shall be made in the application of the provisions of this Warrant
Agreement with respect to the rights and interests of the holder after the
merger or consolidation. The Company will not effect any such merger or
consolidation unless, prior to the consummation thereof, the successor
corporation shall assume, by written instrument reasonably satisfactory in form
and substance to the Warrant Holder, the obligations of the Company under the
Warrants and this Warrant Agreement.
(b) RECLASSIFICATION, ETC. If the Company at any time shall, by
subdivision, combination or reclassification of securities or otherwise, change
any of the securities as to which purchase rights under this
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Warrant Agreement exist into the same or a different number of securities of any
other class or classes, this Warrant Agreement shall thereafter represent the
right to acquire such number and kind of securities as would have been issuable
as the result of such change with respect to the securities which were subject
to the purchase rights under this Warrant Agreement immediately prior to such
subdivision, combination, reclassification or other change and the exercise
price shall be appropriately increased (in the event of a decrease in the number
of shares) or decreased ( in the event of an increase of the number of shares).
(c) SPLIT, SUBDIVISION OR COMBINATION OF SHARES. If the Company at
any time shall split or subdivide its Common Stock, the Exercise Price shall be
proportionately decreased and the number of Shares issuable pursuant to this
Warrant Agreement shall be proportionately increased. If the Company at any time
shall combine or reverse split its Common Stock, the Exercise Price shall be
proportionately increased and the number of Shares issuable pursuant to this
Warrant Agreement shall be proportionately decreased.
(d) STOCK DIVIDENDS. If the Company at any time shall pay a dividend
payable in Common Stock, then the Exercise Price shall be adjusted, from and
after the date of determination of stockholders entitled to receive such
dividend, to that price determined by multiplying the Exercise Price in effect
immediately prior to such date of determination by a fraction (i) the numerator
of which shall be the total number of shares of Common Stock outstanding
immediately prior to such dividend and (ii) the denominator of which shall be
the total number of shares of Common Stock outstanding immediately after such
dividend. The Warrant Holder shall thereafter be entitled to purchase, at the
Exercise Price resulting from such adjustment, the number of shares of Common
Stock (calculated to the nearest whole share) obtained by multiplying (i) the
Exercise Price in effect immediately prior to such adjustment by (ii) the number
of shares of Common Stock issuable upon the exercise hereof immediately prior to
such adjustment and dividing the product thereof by the Exercise Price resulting
from such adjustment.
(f) OTHER CHANGES. If any change in the outstanding Common Stock of
the Company or any other event occurs as to which the other provisions of this
Section 10 are not strictly applicable or if strictly applicable, would not
fairly protect the purchase rights of the Warrant Holder in accordance with such
provisions, then the Board of Directors of the Company shall make an adjustment
in the number of and class of shares available under the Warrants, the Exercise
Price or the application of such provisions, so as to protect the purchase
rights of the Warrant Holder. The adjustment shall be such as will give the
Warrant Holder upon exercise for the same aggregate Exercise Price the total
number, class and kind of shares or other property as the Warrant Holder would
have owned had the Warrants been exercised prior to the event and had the
Warrant Holder continued to hold such shares until after the event requiring
adjustment.
(g) NOTICE OF ADJUSTMENTS; NOTICES. Whenever the Exercise Price or
number of shares purchasable hereunder shall be adjusted pursuant to this
Section 10 hereof, the Company shall issue a certificate signed by its Chief
Executive Officer or Chief Financial Officer setting forth, in reasonable
detail, the event requiring the adjustment, the amount of the adjustment, the
method by which such adjustment was calculated and the Exercise Price and number
of shares purchasable hereunder after giving effect to such adjustment, and
shall cause a copy of such certificate to be mailed (by first class mail,
postage prepaid) to the holder of this Warrant. The Company shall give written
notice to the Warrant Holder at least 10 days prior to the date on which the
Company closes its books or takes a record for determining rights to receive any
dividends or distributions. The Company shall also give written notice to the
Warrant Holder at least 30 business days prior to the date on which a merger or
consolidation of the Company with or into another corporation when the Company
is not the surviving corporation shall take place.
(e) NO CHANGE OF WARRANT NECESSARY. Irrespective of any adjustment
in the Exercise Price or in the number or kind of securities issuable upon
exercise of the Warrant, unless the Warrant Holder otherwise requests, this
Warrant Agreement may continue to express the same price and number and kind of
shares of Common Stock as are stated in this Warrant Agreement as initially
executed.
11. REPRESENTATIONS AND WARRANTIES OF THE WARRANT HOLDER.
The Warrant Holder hereby represents and warrants to the Company as
follows:
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(a) EXISTENCE AND POWER. The Warrant Holder (i) is a corporation
duly organized, validly existing and in good standing under the laws of the
jurisdiction of its incorporation and (ii) has the corporate power and authority
to execute, deliver and perform its obligations under this Warrant Agreement.
(b) AUTHORIZATION; NO CONTRAVENTION. The execution, delivery and
performance by the Warrant Holder of this Warrant Agreement and the transactions
contemplated hereby (i) have been duly authorized by all necessary corporate
action of the Warrant Holder and (ii) do not contravene the terms of the
Certificate of Incorporation or By-laws of the Warrant Holder, each as amended
as of and through the Issue Date.
(c) GOVERNMENTAL AUTHORIZATION; THIRD PARTY CONSENTS. No approval,
consent, compliance, exemption or authorization of any governmental authority or
agency, or of any other person or entity, is necessary or required in connection
with the execution, delivery or performance by, or enforcement against, the
Warrant Holder of this Warrant Agreement or the transactions contemplated
hereby.
(d) BINDING EFFECT. This Warrant Agreement has been duly executed
and delivered by the Warrant Holder and constitutes a valid and binding
obligation of the Warrant Holder, enforceable against it in accordance with its
terms, except as enforceability may be limited by applicable bankruptcy,
insolvency, reorganization, fraudulent conveyance or transfer, moratorium or
similar laws affecting the enforcement of creditors' rights generally or by
equitable principles relating to enforceability (regardless of whether
considered in a proceeding at law or in equity).
(e) PURCHASE FOR OWN ACCOUNT. The Warrants issued to the Warrant
Holder pursuant to this Warrant Agreement, and the Shares to be issued upon
vesting and exercise thereof, are being or will be acquired for the Warrant
Holder's own account and with no intention of distributing or reselling such
securities or any part thereof in any transaction that would be in violation of
the securities laws of the United States of America, or any state.
(f) RESTRICTED SECURITIES. The Warrant Holder understands that the
Warrants and the Shares issuable upon vesting and exercise of the Warrants, will
not be registered at the time of their issuance under the Securities Act of
1933, as amended (the "SECURITIES ACT") for the reason that the sale provided
for in this Agreement is exempt pursuant to the Securities Act, and that
reliance of the Company on such exemption is predicated in part on such Warrant
Holder's representations set forth herein. The Warrant Holder represents that it
is experienced in evaluating companies such as the Company, has such knowledge
and experience in financial and business matters as to be capable of evaluating
the merits and risks of its investment and has the ability to suffer the total
loss of the investment. The Warrant Holder further represents that it has had
the opportunity to ask questions of and receive answers from the Company
concerning the terms and conditions of the Warrants, the business of the
Company, and to obtain additional information to such Warrant Holder's
satisfaction.
(g) ACCREDITED INVESTOR. The Warrant Holder is an "Accredited
Investor" within the meaning of Rule 501 of Regulation D under the Securities
Act, as presently in effect.
12. COMPLIANCE WITH SECURITIES ACT; TRANSFERABILITY OF WARRANT OR
SHARES OF COMMON STOCK.
(a) COMPLIANCE WITH SECURITIES ACT. The Warrant Holder, by
acceptance hereof, agrees that the Warrants, and the shares of Common Stock to
be issued upon exercise of the Warrants, are being acquired for investment and
that such Warrant Holder will not offer, sell or otherwise dispose of the
Warrants, or any shares of Common Stock to be issued upon exercise of the
Warrants except under circumstances which will not result in a violation of the
Securities Act or any applicable state securities laws. The Warrants and all
shares of Common Stock issued upon exercise of the Warrants (unless registered
under the Securities Act and any applicable state securities laws) shall be
stamped or imprinted with a legend in substantially the following form:
"THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAW. THEY MAY NOT BE
SOLD OR OFFERED FOR SALE, PLEDGED, HYPOTHECATED OR OTHERWISE
TRANSFERRED IN THE ABSENCE OF AN EFFECTIVE REGISTRATION STATEMENT
RELATED THERETO
4
UNDER SAID ACT AND APPLICABLE STATE SECURITIES LAWS OR UNLESS THE
COMPANY HAS RECEIVED AN OPINION OF COUNSEL THAT SUCH REGISTRATION IS
NOT REQUIRED TO EFFECTUATE SUCH TRANSACTION."
(b) EXCHANGE, TRANSFER, ASSIGNMENT. The Warrants cannot be
exchanged, transferred or assigned other than to a Subsidiary (as defined below)
of the Warrant Holder or pursuant to operation of law to the Warrant Holder's
successors. Warrant Holder shall not sell, hedge or transfer, directly or
indirectly (whether through establishment of an offsetting derivative position,
or otherwise), the Warrants or any interest therein. "SUBSIDIARY" means, with
respect to any Person, any corporation, limited or general partnership, limited
liability company, trust, association or other business entity of which an
aggregate of 50% or more of the outstanding capital stock or other interests
entitled to vote in the election of the board of directors of such corporation
(irrespective of whether, at the time, Capital Stock of any other class or
classes of such corporation shall have or might have voting power by reason of
the happening of any contingency), managers, trustees or other controlling
Persons, or an equivalent controlling interest therein, of such Person is, at
the time, directly or indirectly, owned by such Person. Upon compliance with
applicable law and the terms of this Warrant Agreement, the surrender of the
Warrants to the Company with an assignment agreement in the form of Exhibit B
hereto duly executed by the Warrant Holder and a permitted assign and funds
sufficient to pay any applicable transfer tax, the Company shall, without
charge, execute and deliver a new Warrant Agreement in the name of the assignee
named in such assignment and this Warrant Agreement shall promptly be cancelled.
13. MISCELLANEOUS.
(a) NO CONSEQUENTIAL DAMAGES. No party hereto shall be entitled to
consequential damages as a result of any breach of a covenant, representation or
warranty contained herein.
(b) NOTICES. All notices, demands and other communications provided
for or permitted hereunder shall be made in writing and shall be by registered
or certified first-class mail, return receipt requested, telecopier, courier
service or personal delivery:
(i) if to the Company, to:
▇▇▇▇▇▇▇▇▇.▇▇▇ Incorporated
▇▇▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Attention: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Esq.
and to:
Cravath, Swaine & ▇▇▇▇▇
Worldwide Plaza
▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇
▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Attention: ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇, ▇▇., Esq.
(ii) if to the Warrant Holder, to:
Delta Air Lines, Inc.
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Airport
▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Attention: Executive Vice President -
5
Chief Financial Officer
and to:
Delta Air Lines, Inc.
▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇
▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇ International Airport
Telecopy: (▇▇▇) ▇▇▇-▇▇▇▇
Attention: Senior Vice President -
General Counsel
All such notices and communications shall be deemed to have been
duly given when delivered by hand, if personally delivered; when delivered by
courier, if delivered by commercial courier service; five (5) business days
after being deposited in the mail, postage prepaid, if mailed; and when receipt
is mechanically acknowledged, if telecopied.
(c) SUCCESSORS AND ASSIGNS; THIRD PARTY BENEFICIARIES. This
Agreement shall inure to the benefit of and be binding upon the successors and
permitted assigns of the parties hereto. No person, other than the parties
hereto and their successors and permitted assigns, is intended to be a
beneficiary of this Agreement.
(d) AMENDMENT AND WAIVER.
(i) No failure or delay on the part of the Company, or the
Warrant Holder in exercising any right, power or remedy hereunder shall operate
as a waiver thereof, nor shall any single or partial exercise of any such right,
power or remedy preclude any other or further exercise thereof or the exercise
of any other right, power or remedy. The remedies provided for herein are
cumulative and are not exclusive of any remedies that may be available to the
Company and the Warrant Holder at law, in equity or otherwise.
(ii) Any amendment, supplement or modification of or to any
provision of this Warrant Agreement, any waiver of any provision of this Warrant
Agreement, and any consent to any departure by the Company or the Warrant Holder
from the terms of any provision of this Agreement, shall be effective only if it
is made or given in writing and signed by the Company and the Warrant Holder.
(e) COUNTERPARTS. This Warrant Agreement may be executed in any
number of counterparts and by the parties hereto in separate counterparts, each
of which when so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same agreement.
(f) HEADINGS. The headings in this Warrant Agreement are for
convenience of reference only and shall not limit or otherwise affect the
meaning hereof.
(g) GOVERNING LAW. THIS WARRANT AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REGARD
TO THE PRINCIPLES OF CONFLICTS OF LAW OF ANY JURISDICTION.
(h) SEVERABILITY. If any one or more of the provisions contained
herein, or the application thereof in any circumstance, is held invalid, illegal
or unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision in every other respect and of the remaining
provisions hereof shall not be in any way impaired, unless the provisions held
invalid, illegal or unenforceable shall substantially impair the benefits of the
remaining provisions hereof.
(i) ENTIRE AGREEMENT. This Warrant Agreement, together with the
exhibits hereto and the Stockholders Agreement dated the date hereof between the
Company and the Warrant Holder (the "STOCKHOLDERS AGREEMENT"), is intended by
the parties as a final expression of their agreement and intended to be a
complete and exclusive statement of the agreement and understanding of the
parties hereto in respect of the subject matter
6
contained herein. This Warrant Agreement, together with the exhibits hereto and
the Stockholders Agreement, supersedes all prior agreements and understandings
between the parties with respect to such subject matter.
(j) PUBLICITY. Except as may be required by law, none of the parties
hereto shall issue a publicity release or public announcement or otherwise make
any disclosure concerning this Warrant Agreement or the transactions
contemplated hereby, without prior approval by the other party (which approval
shall not be unreasonably withheld); PROVIDED, HOWEVER, that nothing in this
Warrant Agreement shall restrict the Warrant Holder from disclosing information
(a) that is already publicly available and (b) to its attorneys, accountants,
consultants and other advisors to the extent necessary to obtain their services
in connection with the Warrant Holder's investment or participation in the
Company. If any announcement is required by law to be made by any party hereto
concerning this Warrant Agreement or the transactions contemplated hereby, prior
to making such announcement such party will deliver a draft of such announcement
to the other parties and shall give the other parties an opportunity to comment
thereon.
(k) CHARGES; TAXES AND EXPENSES. Issuance of certificates for shares
upon the exercise of the Warrants shall be made without charge to the Warrant
Holder for any issue or transfer tax or other incidental expense in respect of
the issuance of such certificates, all of which taxes and expenses shall be paid
by the Company.
(l) SATURDAYS, SUNDAYS, HOLIDAYS, ETC. If the last or appointed day
for the taking of any action or the expiration of any right required or granted
herein shall be a Saturday, Sunday or a legal holiday, then such action may be
taken or such right may be exercised on the next succeeding day not a Saturday,
Sunday or a legal holiday.
(m) LOST WARRANTS. The Company covenants to the Warrant Holder that,
upon receipt of evidence reasonably satisfactory to the Company of the loss,
theft, destruction or mutilation of this Warrant Agreement and, in the case of
any such loss, theft or destruction, upon receipt of an indemnity reasonably
satisfactory to the Company, or in the case of any such mutilation, upon
surrender and cancellation of this Warrant Agreement, the Company will make and
deliver a new Warrant Agreement of like tenor, in lieu of the lost, stolen,
destroyed or mutilated document.
(n) FURTHER ASSURANCES. Each of the parties shall execute such
documents and perform such further acts (including, without limitation,
obtaining any consents, exemptions, authorizations or other actions by, or
giving any notices to, or making any filings with, any governmental authority or
any other person, and otherwise fulfilling, or causing the fulfillment of, the
various obligations made herein), as may be reasonably required or desirable to
carry out or to perform the provisions of this Warrant Agreement and to
consummate and make effective as promptly as possible the transactions
contemplated by this Warrant Agreement.
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IN WITNESS WHEREOF, this Warrant Agreement has been duly executed and delivered
by the authorized officers of each of the undersigned.
▇▇▇▇▇▇▇▇▇.▇▇▇ INCORPORATED
By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
-------------------------------------
▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇
Chief Executive Officer
DELTA AIR LINES, INC.
By: /s/ M. ▇▇▇▇▇▇▇ ▇▇▇▇▇
-------------------------------------
Name: M. ▇▇▇▇▇▇▇ ▇▇▇▇▇
Title: Executive Vice President & CFO
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EXHIBIT A
NOTICE OF EXERCISE
TO: ▇▇▇▇▇▇▇▇▇.▇▇▇ Incorporated
1. The undersigned hereby elects to purchase __________ shares of
the Common Stock of ▇▇▇▇▇▇▇▇▇.▇▇▇ Incorporated pursuant to the terms of the
Warrant Agreement, dated as of February __, 2001, by and between ▇▇▇▇▇▇▇▇▇.▇▇▇
Incorporated and the undersigned (the "WARRANT AGREEMENT"), and tenders herewith
payment of the purchase price for such shares in full as provided by Section 2
of the Warrant Agreement.
2. Please issue a certificate or certificates representing said
shares in the name of the undersigned.
DELTA AIR LINES, INC.
By:
--------------------------------
-----------------------------------
(Print Name of Signatory)
-----------------------------------
(Title of Signatory)
Date:_____________________
EXHIBIT B
ASSIGNMENT FORM
TO: ▇▇▇▇▇▇▇▇▇.▇▇▇ Incorporated
The undersigned hereby assigns and transfers unto ______________________________
of _____________________________________________________________________________
(Please typewrite or print in block letters)
the right to purchase ____________ shares of the common stock of ▇▇▇▇▇▇▇▇▇.▇▇▇
Incorporated subject to the Warrant Agreement, dated as of February __, 2001, by
and between ▇▇▇▇▇▇▇▇▇.▇▇▇ Incorporated and the undersigned (the "WARRANT
AGREEMENT").
This assignment complies with the provisions of Section 12(b) of the Warrant
Agreement and is accompanied by funds sufficient to pay all applicable transfer
taxes.
DELTA AIR LINES, INC.
By:
--------------------------------
-----------------------------------
(Print Name of Signatory)
-----------------------------------
(Title of Signatory)
Date:_____________________