Document:

EX-10.4

 Exhibit 10.4 

FORM OF 
 INTELLECTUAL
PROPERTY CROSS-LICENSE AGREEMENT 
 by and between 

AIR PRODUCTS AND CHEMICALS, INC. 

and 
 VERSUM MATERIALS U.S.,
LLC 
 Dated as of              

 TABLE OF CONTENTS 

 

							
	ARTICLE I	  
	
	DEFINITIONS AND INTERPRETATION	  
			
	 Section 1.1
	 	Definitions	  	 	1	  
	 Section 1.2
	 	References; Interpretation	  	 	5	  
	
	ARTICLE II	  
	
	GRANTS OF RIGHTS	  
			
	 Section 2.1
	 	License to Versum of Air Products Licensed IP	  	 	5	  
	 Section 2.2
	 	Licenses to Air Products of Versum Licensed IP	  	 	6	  
	 Section 2.3
	 	By-Products, Impurities and Intermediates	  	 	6	  
	 Section 2.4
	 	Reservation of Rights	  	 	6	  
	 Section 2.5
	 	Third Party Rights	  	 	7	  
	
	ARTICLE III	  
	
	PROSECUTION AND MAINTENANCE; OWNERSHIP	  
			
	 Section 3.1
	 	Responsibility and Cooperation	  	 	7	  
	 Section 3.2
	 	Failure to Prosecute or Maintain	  	 	7	  
	 Section 3.3
	 	Sale of Licensed Patents by Licensor	  	 	9	  
	 Section 3.4
	 	Ownership	  	 	9	  
	 Section 3.5
	 	No Additional Obligations	  	 	9	  
	
	ARTICLE IV	  
	
	ENFORCEMENT	  
			
	 Section 4.1
	 	Notification	  	 	9	  
	 Section 4.2
	 	Defense and Enforcement	  	 	9	  
	 Section 4.3
	 	Cooperation	  	 	10	  
	 Section 4.4
	 	Settlements	  	 	10	  
	 Section 4.5
	 	Costs, Expenses, and Damages	  	 	10	  
	
	ARTICLE V	  
	
	DISCLAIMERS; LIMITATIONS OF LIABILITY; OTHER COVENANTS	  
			
	 Section 5.1
	 	Disclaimer	  	 	10	  
	 Section 5.2
	 	Limitations on Liability	  	 	11	  
	 Section 5.3
	 	Compliance	  	 	11	  

  
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	ARTICLE VI	  
	
	CONFIDENTIALITY	  
			
	 Section 6.1
	 	Disclosure and Use Restrictions	  	 	12	  
	 Section 6.2
	 	Notification by the Receiving Party	  	 	12	  
	 Section 6.3
	 	Air Products Licensed Engineering and Process Standards and Policies	  	 	12	  
	 Section 6.4
	 	Transfer of Know-How	  	 	13	  
	 Section 6.5
	 	Survival	  	 	13	  
	
	ARTICLE VII	  
	
	TERM	  
			
	 Section 7.1
	 	Term	  	 	13	  
	 Section 7.2
	 	Termination of Licenses to the Air Products Licensed Engineering Process Standards and Policies for Change of Control	  	 	13	  
	
	ARTICLE VIII	  
	
	MISCELLANEOUS	  
			
	 Section 8.1
	 	Amendment	  	 	14	  
	 Section 8.2
	 	Waiver	  	 	14	  
	 Section 8.3
	 	Complete Agreement	  	 	14	  
	 Section 8.4
	 	Assignment	  	 	14	  
	 Section 8.5
	 	Severability	  	 	15	  
	 Section 8.6
	 	Notices	  	 	15	  
	 Section 8.7
	 	Governing Law	  	 	16	  
	 Section 8.8
	 	Dispute Resolution	  	 	16	  
	 Section 8.9
	 	Bankruptcy	  	 	16	  
	 Section 8.10
	 	Title and Headings	  	 	16	  
	 Section 8.11
	 	Counterparts	  	 	16	  
	 Section 8.12
	 	Expenses	  	 	17	  
	 Section 8.13
	 	Parties in Interest	  	 	17	  
	 Section 8.14
	 	Construction	  	 	17	  
	 Section 8.15
	 	Relationship of the Parties	  	 	17	  

  
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	 List of Schedules
	  	
			
	 Schedule A
	 	Air Products’ Licensed Patents	  	
	 Schedule B
	 	Air Products’ Engineering Standards	  	
	 Schedule C
	 	Air Products’ EH&S Standards
	 Schedule D
	 	Versum Licensed Patents	  	
	 Schedule E
	 	Versum Field of Use	  	
	 Schedule F
	 	Versum Megasys Know-How and Process Information	  	

  
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 INTELLECTUAL PROPERTY CROSS-LICENSE AGREEMENT 

This INTELLECTUAL PROPERTY CROSS LICENSE AGREEMENT (this “Agreement”), dated as of
            (the “Effective Date”), is entered into by and between Air Products and Chemicals, Inc. (“Air Products”), a Delaware corporation with an address at 7201
Hamilton Boulevard, Allentown, Pennsylvania, 18195, U.S.A., and Versum Materials U.S., LLC (“Versum”), a limited liability company organized under the laws of the State of Delaware with an address at
            , U.S.A. (both Air Products and Versum, a “Party” and collectively, the “Parties”). 

RECITALS 
 WHEREAS,
the Parties and certain of their Affiliates will enter into that certain Separation Agreement, to be dated             , (the “Separation Agreement”); and 

WHEREAS, Air Products has rights to certain Intellectual Property that is necessary or useful with respect to the Versum Business (as
defined in the Separation Agreement), and Versum has rights to certain Intellectual Property that is necessary or useful with respect to Air Products’ retained businesses, and, in contemplation of the Separation Agreement, Air Products wishes
to grant to Versum, and Versum wishes to grant to Air Products, a license to certain of such Intellectual Property, in each case as and to the extent set forth herein, such licenses to become effective as of the effective date of the Separation
Agreement. 
 NOW, THEREFORE, in consideration of the foregoing and the mutual agreements, provisions and covenants contained in this
Agreement, the Parties hereby agree as follows: 
 ARTICLE I 

DEFINITIONS AND INTERPRETATION 

Section 1.1 Definitions. Capitalized terms used in this Agreement, including any Appendices and Schedules hereto, shall have the
meanings ascribed to such terms in this Agreement, including as specified in this Section 1.1. 
 (a) “Action” shall
mean any demand, action, claim, suit, countersuit, arbitration, inquiry, subpoena, case, litigation, proceeding or investigation (whether civil, criminal, administrative or investigative) by or before any court or grand jury, any Governmental Entity
or any arbitration or mediation tribunal. 
 (b) “Affiliate” shall mean, when used with respect to a specified Person, a Person and
at a point in, or with respect to a period of, time, a Person that directly or indirectly, through one or more intermediaries, controls, is controlled by, or is under common control with, such specified Person at such point in or during such period
of time. For the purposes of this definition, “control”, when used with respect to any specified Person shall mean the possession, 

 
directly or indirectly, of the power to direct or cause the direction of the management and policies of such Person, whether through the ownership of voting securities or other interests, by
contract or otherwise. It is expressly agreed that Versum and its Subsidiaries shall not be deemed Affiliates of Air Products or any of its Affiliates. 

(c) “Air Products Licensed Engineering and Process Standards and Policies” means, collectively, (i) Air Products Licensed
Engineering Standards, and (ii) the Air Products Licensed EH&S Standards. 
 (d) “Air Products Licensed EH&S
Standards” means the Air Products Environmental, Health, and Safety Standards, including training materials, to the extent set forth in Schedule C. Once Versum adopts its own standard or policy in accordance with Section 2.1(b), such
standard or policy would not constitute Air Products Licensed EHS Standards under the terms of this Agreement. 
 (e) “Air Products
Licensed Engineering Standards” means the standards, protocols, process design methods (PDMs), training materials processes, and policies, including the engineering guidelines which consist of that library of “how-to” guides for
designing, constructing, maintaining, and operating equipment and facilities, each only to the extent documented in documents set forth in Schedule B. Once VERSUM adopts its own standard or policy in accordance with Section 2.1(b), such
standard or policy would be owned by Versum and not constitute Air Products Licensed Engineering Standards under the terms of this Agreement. 

(f) “Air Products Licensed IP” means the Air Products Licensed Patents, the Air Products Licensed Engineering and Process Standards
and Policies, and the Air Products Licensed Engineering Models and Databases. 
 (g) “Air Products Licensed Patents” means the
Patents and Patent Applications owned by Air Products and licensed to Versum hereunder that are set forth on Schedule A, including any foreign equivalents, continuations, continuation-in-parts, divisionals and reissues thereof. 

(h) “Business Day” means any day other than Saturday or Sunday and any other day on which commercial banking institutions located in
New York, New York are required, or authorized by Law, to remain closed. 
 (i) “Change of Control” means (i) the direct or
indirect acquisition, by any Person or group of Persons acting in concert, whether by merger, reorganization, consolidation, sale, operation of law or otherwise, in one transaction or any related series of transactions, of control of such Party or
(ii) the sale, transfer or disposition by such Party, in one transaction or any related series of transactions, of all or substantially all of such Party’s assets, in each case other than to a Subsidiary of such Party (but only for so long
as such Subsidiary remains a Subsidiary of such Party). For the purposes of this definition, “control” shall have the meaning ascribed to such term in the definition of “Affiliate” herein. 

(j) “Confidential Technical Information” means all Know-How licensed or disclosed by either Party hereunder, whether in written or
other tangible or intangible form, including any such information known by either party as a result of the parties being a single entity prior to the Separation Agreement. Disclosure of Confidential Technical Information by one Party
(“Disclosing Party”) to the other Party (“Recipient”) hereunder shall be subject to the terms of this Agreement (including Article VI). “Confidential Technical Information” shall also include any physical or
tangible items embodying or including any Confidential Technical Information. Notwithstanding the foregoing, Confidential Technical Information shall not include any information which: 

 

	 	(i)	is publicly known prior to the Effective Date; or 

  

	 	(ii)	becomes publicly known through no fault of the Recipient or as permitted under this Agreement; 

  

	 	(iii)	is or has been disclosed to the Recipient by a Third Party who has a lawful right to disclose the information, except to the extent covered by an obligation of confidentiality or restricted use to the Third Party; or

  

	 	(iv)	is independently developed by or for the Recipient without use of Confidential Technical Information for which the party is deemed a Recipient under this Agreement; provided that: (i) technical information
or know-how shall not be deemed to be within the foregoing exceptions merely because it is embraced by more general knowledge in the public domain or in the Recipient’s possession; and (ii) no combination of features shall be deemed to be
within the foregoing exceptions merely because individual features are in the public domain or in the Recipient’s possession, unless the combination itself and its principle of operations are in the public domain or in the Recipient’s
possession. 

  
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 (k) “Governmental Entity” shall mean any nation or government, any state, municipality
or other political subdivision thereof and any entity, body, agency, commission, department, board, bureau or court, whether domestic, foreign, multinational, or supranational exercising executive, legislative, judicial, regulatory, self-regulatory
or administrative functions of or pertaining to government and any executive official thereof. 
 (l) “Know-How” means trade
secrets and all other confidential or proprietary information, know-how, inventions, processes, formulae, training materials and manuals, models and methodologies. 

(m) “Law” shall mean any applicable U.S. or non-U.S. federal, national, supranational, state, provincial, local or similar statute,
law, ordinance, regulation, rule, code, income tax treaty, order, requirement or rule of law (including common law) or other binding directives promulgated, issued, entered into or taken by any Governmental Entity. 

  
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 (n) “Licensed IP” means the Versum Licensed IP, with respect to the licenses to Air
Products hereunder, and the Air Products Licensed IP, with respect to the licenses to Versum hereunder. 
 (o) “Licensee” means
each of Versum, with respect to the Air Products Licensed IP, and Air Products, with respect to the Versum Licensed Patents. 
 (p)
“Licensor” means Versum with respect to the Versum Licensed IP and Air Products with respect to the Air Products Licensed IP. 

(q) “Patents” means patents and patent applications, and any and all related national or international counterparts thereto,
including any divisionals, continuations, continuations-in-part, reissues, reexaminations, substitutions and extensions there. 
 (r)
“Patent Challenge” means any direct or indirect (including by supporting an Action brought by another Person) challenge to the validity, patentability, enforceability, non-infringement or ownership of any Patent, including any such
(i) court challenge (including any such declaratory judgment action), or (ii) activity or proceeding before a patent office or other Governmental Entity or registrar, including any reissue, reexamination, pre-grant review, post-grant
review, opposition or similar proceeding. 
 (s) “Person” shall mean any natural person, firm, individual, corporation, business
trust, joint venture, association, bank, land trust, trust company, company, limited liability company, partnership, or other organization or entity, whether incorporated or unincorporated, or any Governmental Entity. 

(t) “Subsidiary” shall mean with respect to any Person (i) a corporation, fifty percent (50%) or more of the voting or
capital stock of which is, as of the time in question, directly or indirectly owned by such Person and (ii) any other Person in which such Person, directly or indirectly, owns fifty percent (50%) or more of the equity or economic interest
thereof or has the power to elect or direct the election of fifty percent (50%) or more of the members of the governing body of such entity. It is expressly agreed that Versum and its Subsidiaries shall not be deemed Subsidiaries of Air
Products or any of its Affiliates. 
 (u) “Third Party” means any Person other than Air Products, Versum, and their respective
Affiliates. 
 (v) “Valid Claim” means a claim of an issued and unexpired Patent that (i) has not been revoked or held
unenforceable or invalid by a decision of a court or other Governmental Entity of competent jurisdiction from which no appeal can be taken or has been taken within the time allowed for appeal and (ii) has not been abandoned, disclaimed, denied,
or admitted to be invalid or unenforceable through reissue or disclaimer or otherwise in such country. 
 (w) “Versum Assets” means
any plant, office or facility owned or operated by or for Versum. 

  
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 (x) “Versum Field of Use” means the licensed field of use as set out in Schedule E.

 (y) “Versum Licensed IP” means the Megasys Know-How and process information set out in Schedule F and the Versum Licensed
Patents. 
 (z) “Versum Licensed Patents” means the Patents and Patent Applications owned by Versum and licensed to Air Products
hereunder that are set forth on Schedule D, including any foreign equivalents, continuations, continuation-in-parts, divisionals and reissues thereof. 

Section 1.2 References; Interpretation. References in this Agreement to any gender include references to all genders, and
references to the singular include references to the plural and vice versa. Unless the context otherwise requires, the words “include”, “includes” and “including” when used in this Agreement shall be deemed to be
followed by the phrase “without limitation”. Unless the context otherwise requires, references in this Agreement to Articles, Sections, Annexes, Exhibits and Schedules shall be deemed references to Articles and Sections of, and Annexes,
Exhibits and Schedules to, this Agreement. Unless the context otherwise requires, the words “hereof”, “hereby” and “herein” and words of similar meaning when used in this Agreement refer to this Agreement in its
entirety and not to any particular Article, Section or provision of this Agreement. The words “written request” when used in this Agreement shall include email. Reference in this Agreement to any time shall be to New York City, New York
time unless otherwise expressly provided herein. The word “or” indicates an alternative, but not a mutually exclusive alternative unless clearly indicated as being mutually exclusive, such as when preceded in a clause by the word
“either”. 
 ARTICLE II 

GRANTS OF RIGHTS 

Section 2.1 License to Versum of Air Products Licensed IP. 

(a) Air Products’ Licensed Patents. Subject to the terms and conditions of this Agreement, acting on behalf of itself and its
Affiliates, Air Products hereby grants Versum an exclusive, irrevocable, royalty-free, fully paid-up, sublicenseable, worldwide license in, to and under the Air Products Licensed Patents, to make, have made, offer for sale, sell, import, export and
use within the “Versum Field of Use” set out in Schedule E. 
 (b) Air Products Licensed Engineering and Process Standards and
Policies. Subject to the terms and conditions of this Agreement, acting on behalf of itself and its Affiliates, Air Products hereby grants Versum a non-exclusive, royalty-free, fully paid-up, license to Air Products’ Engineering Standards
set out in Schedule B and Air Products’ EHS Standards set out in Schedule C, for VERSUM’s internal use only, for the purpose of starting new or sustaining continuing operations until which time VERSUM adopts its own standards, but in no
case for a period of time exceeding 12 months from the Effective Date of this Agreement. As part of the process of adopting such a standard or policy, Versum shall (i) remove, strike over, or otherwise obliterate any and all reference to Air
Products and its Affiliates and (ii) delete any material or 

  
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provisions not applicable to the Versum Assets from the applicable Air Products Licensed Engineering and Process Standards and Policies used in creating such adopted standard or policy and shall
cease to make any use of any reference to Air Products or its Affiliates in connection therewith. Notwithstanding anything to the contrary herein, such license under this Section 2.1(b) shall be further limited to only practicing such
Air Products Licensed Engineering and Process Standards and Policies at any location where Versum Assets, including future Versum Assets, are situated and only to the extent necessary to build, maintain and operate the Versum Assets. 

(c) Sublicenses. Versum may sublicense its rights under Section 2.1(a) to its Affiliates and Third Parties (each being a
“Versum Sublicensee”). With respect to Air Products Licensed Engineering Standards and Policies, Versum may sublicense its rights under Section 2.1(b) only to such of its Affiliates which are operating or maintaining, or will
operate or maintain in the future, Versum Assets, in each case only in connection with the maintenance and operation of the applicable Versum Assets. 

Section 2.2 Licenses to Air Products of Versum Licensed IP. 

(a) Versum Licensed Patents. Subject to the terms and conditions of this Agreement, acting on behalf of itself and its Affiliates,
Versum hereby grants Air Products a non-exclusive, irrevocable, royalty-free, fully paid-up, non-sublicenseable, worldwide license in, to and under the Versum Licensed Patents set out in Schedule D to make, have made, offer for sale, sell, import,
export and use, including the right for customers to use. 
 (b) Versum Licensed Megasys Know-How. Subject to the terms and conditions
of this Agreement, acting on behalf of itself and its Affiliates, Versum hereby grants Air Products an exclusive, irrevocable, royalty-free, fully paid-up, sublicenseable, license in, to and under the Megasys know-how and process information set out
in Schedule F, to allow Air Products to perform under the contract dated April 9, 2008, with ON SEMICONDUCTOR for their plant in Roznov pod Radhostem, Czech Republic. This license is limited to performance under this specific contract, and
shall continue for the duration of this contract or any extensions thereof. Upon termination of this contract, or any extensions thereof, Air Products will, within fifteen (15) business days of any request by Verum, return to Versum or, at Air
Products’ election, destroy or delete all copies of the Licensed Megasys Know-How that are in their possession or control, except that Air Products may retain one copy in their Legal Department for record purposes only. 

Section 2.3 By-Products, Impurities and Intermediates. 

For the avoidance of doubt, subject to the terms and conditions of this Agreement, the rights granted under Sections 2.1 and 2.2
shall include the rights to make or have made any by-product, impurity or intermediate of any process made in connection with exercising such rights granted herein, in each case without limiting any of the restrictions and exclusions hereunder. 

Section 2.4 Reservation of Rights. 

Except as provided in the Separation Agreement or any Ancillary Agreement, each Party reserves its and its Affiliates’ rights in and to
all Intellectual Property that is not expressly licensed or otherwise granted hereunder. Without limiting the foregoing, this Agreement and the licenses and rights granted herein do not, and shall not be construed to, confer any rights upon either
Party, its Affiliates, or its sublicensees by implication, estoppel, or otherwise as to any of the other Party’s or its Affiliates’ Intellectual Property, except as otherwise expressly set forth herein. 

  
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 Section 2.5 Third Party Rights. 

Notwithstanding anything to the contrary herein, the licenses granted under this Agreement, including any exclusivity thereof, are subject to
any rights of or obligations owed to any Third Parties with respect to the applicable Licensed IP pursuant to agreements existing as of the Effective Date between the applicable Licensor or its Affiliates and such Third Parties. 

ARTICLE III 

PROSECUTION AND MAINTENANCE; OWNERSHIP 

Section 3.1 Responsibility and Cooperation. 

(a) Subject to Section 3.2, Licensor shall be solely responsible for filing, prosecuting, and maintaining all Patents within the
Licensed IP owned by Licensor. Licensor shall be responsible for all costs associated with filing, prosecuting, and maintaining such Patents. Without limiting the foregoing, each Licensor shall use commercially reasonable efforts to prosecute and
maintain in good faith all Patents licensed under this Agreement. 
 (b) Licensee shall reasonably cooperate with Licensor with respect to
providing such information or taking such other actions as may be necessary in order to protect each Party’s rights in the Licensed IP in connection with requirements or provisions of applicable Laws in local jurisdictions. 

(c) The Parties agree to reasonably cooperate with each other with respect to preparing instruments to record Licensee as the licensee of the
Licensed IP in any applicable foreign Governmental Entity or registrar where such recordation is required, in each case as and to the extent so required under the applicable Laws of such jurisdictions, and Licensee shall have the right to record
such instrument with the applicable Governmental Entity or registrar, in each case at Licensee’s sole cost and expense. Notwithstanding anything to the contrary in any such instrument, to the extent of any conflict or inconsistency between this
Agreement and such instrument, this Agreement shall control. For clarity and without limiting the foregoing, any such instrument may or may not refer to this Agreement or include disclaimers, limitations or exceptions with respect to the Licensed IP
or the licenses thereto and may be dated as of, before or after the Effective Date. 
 Section 3.2 Failure to Prosecute or
Maintain. 
 (a) In the event that either Party as Licensor decides to forego prosecution or maintenance of a Patent for which it is
allocated responsibility pursuant to Section 3.1, such Licensor (the “Abandoning Party”) shall use commercially reasonable efforts to provide written notice to Licensee at least thirty (30) days prior to the final deadline
for taking a necessary step to continue to prosecute or maintain the applicable Patent (such notice, the “Assumption Notice”). Upon receipt of such Assumption Notice, such Licensee will have the option of assuming responsibility for such
prosecution and maintenance at its sole expense. If such 

  
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Licensee elects to assume responsibility for prosecution and maintenance pursuant to this Section 3.2, such Licensee shall notify the Abandoning Party in writing of such election
within thirty (30) days and the Abandoning Party shall assign its entire right, title and interest in such Patent to Licensee; provided that the Abandoning Party shall: 

 

	 	(i)	retain (and is hereby granted) a license with respect to the applicable Patent consistent with Section 2.1 (if the Abandoning Party is Versum, such Patent shall thereafter be deemed an Air Products Licensed
Patent hereunder) or Section 2.2 ( if the Abandoning Party is Air Products, such Patent shall thereafter be deemed a Versum Licensed Patent (as applicable) hereunder), and 

 

	 	(ii)	have no other obligation thereby to assign any related Patents or Patent applications, including any Patents or Patent applications in such assigned Patent’s family. 

(b) For avoidance of doubt, if the applicable Licensee does not notify the Abandoning Party of its election in writing within thirty
(30) days following the applicable Assumption Notice from the Abandoning Party, such Licensee shall be deemed to have elected to not assume responsibility for prosecution and maintenance pursuant to this Section 3.2 and the Licensor
may abandon such Patent or decide not to abandon such Patent. 
 (c) Neither Licensor shall be liable to any Licensee for any inadvertent,
unintentional or unavoidable abandonment of any Patent of such Licensor. The assignee Party shall be responsible for preparing and filing assignment documents required for completing formalities to assign the applicable Patent pursuant to
Section 3.2(a). In the event of an assignment of a Patent pursuant to Section 3.2(a), the Parties agree to reasonably cooperate in executing appropriate assignment documents provided by the assignee Party to complete such
formalities, such as powers of attorney and documents for recording assignments for all such assigned Patents, upon request from the assignee Party. All out-of-pocket expenses associated with preparing and recording any assignment of a Patent under
Section 3.2(a) shall be paid by the assignee Party. For the avoidance of doubt, the assignee shall become responsible for all prosecution or maintenance as of the date of the notice indicating its desires for the assignment as well as
for all payments due to continue or maintain the Patent, including any expenses for legal services, fees and the like. If a Patent is assigned under Section 3.2(a), then, unless otherwise agreed in writing, the assignee may abandon such
Patent without notice or obligation of assignment to the other Party. 
 (d) Notwithstanding the foregoing, each Licensor shall be
(i) free to abandon pending patent applications and (ii) shall have no obligation to file any national or regional application based on any international or regional patent applications or filings (including any PCT or EPO applications)
whether or not designated under such applications or filings, without any obligation of notice or assignment to the Licensee. 
 (e) For the
purposes of this Section 3.2, notices concerning abandoning and assignment of Patents shall be sent in accordance with Section 8.6 herein. 

  
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 Section 3.3 Sale of Licensed Patents by Licensor. Licensor and its Affiliates shall
be free to sell, convey or transfer any Patent licensed by it hereunder so long as the sale, conveyance or transfer is accomplished subject to any rights hereunder of each Licensee and its Affiliates. 

Section 3.4 Ownership. As between the Parties, Licensee acknowledges and agrees that (i) Versum owns the Versum Licensed
Patents, and Air Products owns the Air Products Licensed IP, (ii) except as provided in Section 3.2, neither Licensee, nor its Affiliates or its sublicensees, will acquire any ownership rights in the Licensed IP owned by the
Licensor, and (iii) Licensee shall not, and shall cause its Affiliates and its sublicensees to not, represent that they have an ownership interest in any of the Licensed IP owned by the Licensor. 

Section 3.5 No Additional Obligations. This Agreement shall not obligate either Party to disclose to the other Party, or maintain,
register, prosecute, pay for, enforce, or otherwise manage any Intellectual Property except as expressly set forth herein. 
 ARTICLE IV

 ENFORCEMENT 

Section 4.1 Notification. If Licensee becomes aware of (a) any Third Party activities that constitute, or would reasonably be
expected to constitute, an infringement, misappropriation, or other violation of any Licensed IP licensed to such Licensee in the field where the Licensee has an exclusive license hereunder (“Third Party Infringement”) or (b) any
written Third Party allegations of invalidity or unenforceability of any Licensed IP licensed to such Licensee (“Invalidity Allegations”), Licensee shall promptly notify Licensor thereof in writing. 

Section 4.2 Defense and Enforcement. Licensor shall have the sole initial right, but not the obligation, to elect to bring an
Action or enter into settlement discussions regarding Third Party Infringements and Invalidity Allegations with respect to any Licensed IP at Licensor’s sole expense. If Licensor does not bring such an action or enter into settlement
discussions with respect to such Licensed IP within one-hundred eighty (180) days after receiving notice from Licensee pursuant to Section 4.1, Licensee shall have the right to bring an Action or enter into settlement discussions
regarding such Third Party Infringement or Invalidity Allegations at its sole expense; provided, further, that (i) notwithstanding the above, if Licensor does not bring such an Action or does not notify Licensee of its election to
bring such an Action for a Third Party Infringement or to defend an Invalidity Allegation with respect to such Licensed IP by twenty (20) Business Days before the deadline for filing the applicable filing or response, such Licensee shall have
the right to bring an Action regarding such Third Party Infringement or Invalidity Allegations at its sole expense, and (ii) Licensor shall have no liability for failing to so notify Licensee as provided in this Section 4.2. The
Party that elects to bring an Action or enters into settlement discussions in accordance with this Section 4.2 (the “Enforcing Party”) shall control such Action or settlement discussions (as applicable). Notwithstanding the
foregoing, if Invalidity Allegations arise in an opposition, interference, reissue proceeding, reexamination or other proceeding before any patent office, the Licensor of the applicable Patent shall have the exclusive right to defend such Invalidity
Allegations or enter into settlement discussions with respect thereto. 

  
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 Section 4.3 Cooperation. If the Enforcing Party brings an Action or enters into
settlement discussions in accordance with Section 4.2, the other Party shall provide reasonable assistance in connection therewith, at the Enforcing Party’s request and expense. The Enforcing Party shall keep the other Party
regularly informed of the status and progress of such Action or settlement discussions and shall reasonably consider comments of the other Party in connection therewith. Notwithstanding anything to the contrary herein, such other Party may, at its
sole discretion and expense, join as a party to such Action or proceeding; provided that if necessary for standing purposes, such Party shall so join such Action or proceeding upon the Enforcing Party’s reasonable request and at the
Enforcing Party’s expense. Such other Party shall have the right to be represented by counsel (which shall act in an advisory capacity only, except for matters solely directed to such Party) of its own choice in any such Action or proceeding at
its own expense. 
 Section 4.4 Settlements. Notwithstanding anything to the contrary herein, the Enforcing Party shall not
settle any Third Party Infringement or Invalidity Allegations without the prior written consent (not to be unreasonably withheld) of (i) Air Products (if Versum is the Enforcing Party) or (ii) Versum (if Air Products is the Enforcing
Party), in each case if doing so would (a) adversely affect the validity, enforceability, or scope, or admit non-infringement, of any Licensed IP owned by the other Party as Licensor, or (b) give rise to liability or any other obligations
of the other Party, its Affiliates, or its sublicensees for which the Party settling the matter is unwilling or unable to, and otherwise does not, provide full indemnification. 

Section 4.5 Costs, Expenses, and Damages. Any and all amounts recovered by the Enforcing Party in any Action regarding a Third
Party Infringement or Invalidity Allegation or settlement thereof shall, unless otherwise agreed, including in an agreement in connection with obtaining consent to settlement, be allocated first to reimburse the Enforcing Party’s out-of-pocket
costs and expenses incurred in connection with such Action or settlement and next to reimburse Air Products’ (if Versum is the Enforcing Party) or Versum’s (if Air Products is the Enforcing Party) out-of-pocket costs and expenses incurred
in connection with such Action or settlement. Any and all such recovered amounts remaining following such initial allocation shall be retained by the Enforcing Party. 

ARTICLE V 

DISCLAIMERS; LIMITATIONS OF LIABILITY; OTHER COVENANTS 

Section 5.1 Disclaimer. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT TO THE CONTRARY, ALL LICENSES IN THIS AGREEMENT,
INCLUDING WITH RESPECT TO ALL PATENTS AND KNOW-HOW (INCLUDING THE AIR PRODUCTS LICENSED ENGINEERING AND PROCESS STANDARDS AND POLICIES) ARE BEING MADE WITHOUT ANY REPRESENTATION OR WARRANTY OF ANY NATURE (A) AS TO THEIR VALUE OR FREEDOM FROM
ANY SECURITY INTERESTS; (B) AS TO TITLE, NONINFRINGEMENT, VALIDITY, ACCURACY OF INFORMATIONAL CONTENT, MERCHANTABILITY OR FITNESS FOR A PARTICULAR 

  
 10 

 
PURPOSE (WHETHER OR NOT A PARTY OR ITS AFFILIATES KNOWS OR HAS REASON TO KNOW ANY SUCH PURPOSE) OR ANY OTHER MATTER, INCLUDING ANY WARRANTY (EXPRESS OR IMPLIED, ORAL OR WRITTEN), WHETHER ALLEGED
TO ARISE BY LAW, BY REASON OF CUSTOM OR USAGE IN THE TRADE, BY COURSE OF DEALING OR OTHERWISE; OR (C) AS TO THE LEGAL SUFFICIENCY TO GRANT ANY RIGHTS THEREIN AND AS TO ANY CONSENTS OR APPROVALS (INCLUDING APPROVALS FROM ANY GOVERNMENTAL
ENTITIES) REQUIRED IN CONNECTION HEREWITH OR THEREWITH, AND NEITHER PARTY, NOR ANY OF ITS REPRESENTATIVES, MAKES OR HAS MADE ANY REPRESENTATION OR WARRANTY, AND HEREBY EXPRESSLY DISCLAIMS ALL OTHER REPRESENTATIONS AND WARRANTIES, EXPRESS OR IMPLIED,
WRITTEN OR ORAL, AT LAW OR IN EQUITY, IN CONNECTION WITH THIS AGREEMENT, INCLUDING WITH RESPECT TO THE LICENSED IP, INCLUDING WITH RESPECT TO THE MATTERS DESCRIBED IN THE FOREGOING CLAUSES ( A )-(C). WITHOUT LIMITING THE FOREGOING, EACH LICENSEE
HEREBY ACKNOWLEDGES AND AGREES THAT ALL LICENSES IN THIS AGREEMENT ARE BEING MADE “AS IS, WHERE IS,” AND, INTER ALIA, SUBJECT TO ANY AGREEMENTS OF THE PARTIES EXISTING AS OF THE EFFECTIVE DATE, AND EACH LICENSEE SHALL BEAR THE ECONOMIC AND
LEGAL RISKS THAT ANY LICENSES IN THIS AGREEMENT SHALL PROVE TO BE INSUFFICIENT OR OTHERWISE IMPAIRED. 
 Section 5.2 Limitations on
Liability. NOTWITHSTANDING ANY OTHER PROVISION OF THIS AGREEMENT TO THE CONTRARY, AND EXCEPT AS SET FORTH IN, AND SUBJECT TO, THE SEPARATION AGREEMENT, AND EXCEPT TO THE EXTENT PROHIBITED BY APPLICABLE LAW, NO PARTY SHALL BE LIABLE TO ANY OTHER
PARTY OR ANY THIRD PARTY FOR ANY PUNITIVE, SPECIAL, CONSEQUENTIAL, EXEMPLARY, INCIDENTAL OR INDIRECT DAMAGES (INCLUDING LOST OR ANTICIPATED REVENUES OR PROFITS OR LOSS OF BUSINESS REPUTATION OR OPPORTUNITY RELATING TO THE SAME), ARISING FROM ANY
CLAIM RELATING TO THIS AGREEMENT, INCLUDING THE BREACH OR ALLEGED BREACH OF THIS AGREEMENT, WHETHER SUCH CLAIM IS BASED ON WARRANTY, CONTRACT, STATUTE, TORT (INCLUDING NEGLIGENCE OR STRICT LIABILITY) OR OTHERWISE, EVEN IF AN AUTHORIZED
REPRESENTATIVE OF SUCH PARTY IS ADVISED OF THE POSSIBILITY OR LIKELIHOOD OF SAME, AND WHETHER OR NOT ARISING FROM THE OTHER PARTY’S SOLE, JOINT, OR CONCURRENT NEGLIGENCE, STRICT LIABILITY, CRIMINAL LIABILITY, OR OTHER FAULT. 

Section 5.3 Compliance. All activities of Air Products and Versum and their respective Affiliates pursuant to this Agreement shall
comply with all applicable Laws, including the export control Laws of the United States. 

  
 11 

 ARTICLE VI 

CONFIDENTIALITY 

Section 6.1 Disclosure and Use Restrictions. It is acknowledged that, due to the fact that prior to the Separation Agreement the
Parties hereto operated as a single company, each Party may possess Confidential Technical Information of the other Party, and also that in carrying out the objectives of this Agreement, as well as the Separation Agreement, each Party may disclose
Confidential Technical Information to the other Party. Except as expressly provided herein, each Recipient agrees that it shall, and shall cause its Affiliates and its sublicensees to keep confidential and shall not publish or otherwise disclose any
Confidential Technical Information of the other Party. A Recipient may use Confidential Technical Information of the Disclosing Party only for the express purpose for which the information was disclosed or to the extent within its licensed or
retained rights thereto under this Agreement. The restrictions in the two immediately preceding sentences shall not apply to disclosure of Confidential Technical Information as to which a Party is a Recipient: 

(a) to the Recipient’s Affiliates or its or their respective directors, officers, employees, agents, contractors and advisors
(“Representatives”) to the extent reasonably necessary for the Recipient to perform its obligations or exercise its rights under this Agreement; provided that such Representatives have undertaken an obligation of secrecy through an
agreement with Recipient or its Affiliate or through professional ethical obligations arising out of a professional relationship with Recipient or its Affiliate; 

(b) pursuant to an order of a court or other Governmental Entity or as required by applicable Law (including if required by applicable Law in
connection with a Recipient’s good-faith pursuit of a bona fide business interest); provided that the Recipient provides the Disclosing Party to the extent practicable with reasonable advance written notice thereof and uses diligent and
commercially reasonable efforts and reasonably cooperates with the Disclosing Party to obtain confidential treatment and, if available, an appropriate protective order therefor, if applicable, and only furnishes that Confidential Technical
Information that it is advised by counsel that it is legally required to furnish; and 
 (c) to Recipient’s licensees or sublicensees to
the extent reasonably necessary to enable such Persons to exercise any license or sublicense rights (as applicable) that they have been granted to or retained under the Licensed IP; provided that they are subject to obligations of
confidentiality and non-use at least equivalent in scope to those set forth in this Article VI. 
 Section 6.2 Notification
by the Receiving Party. The Recipient shall promptly notify the Disclosing Party of any unauthorized possession, use or knowledge, or attempt thereof, of Confidential Technical Information of the Disclosing Party by any Person which may become
known to the Recipient. 
 Section 6.3 Air Products Licensed Engineering and Process Standards and Policies. Notwithstanding any
other provision of this Agreement, the Air Products Licensed Engineering and Process Standards and Policies licensed hereunder shall (a) not be disclosed or provided by Versum to any Person or Affiliate other than those Persons or Affiliates
(and in the case of those Standards labelled “internal use only” in the Schedules, only to Affiliates) that have a reasonable need to access 

  
 12 

 
such information for purposes of conducting the Versum Business (subject to the terms hereof) and are under an obligation to maintain the confidentiality thereof, (b) not include any other
Know-How (including any standards, tools, and documents) referenced but not specifically and fully disclosed, explicated, and set forth therein, (c) be implemented and used by Versum and its Affiliates subject to their own training with respect
thereto (and Air Products shall have no obligation with respect to any such training), and (d) be destroyed by Versum, or any of its Affiliates, in relevant part, upon Versum or any of its Affiliates determining that the same has become
obsolete or superseded by any other standard, protocol, policy, or process (or following a Change of Control as provided in Section 7.2). The Parties acknowledge that from time to time applicable Law may conflict with and supersede
aspects of Air Products Licensed Engineering and Process Standards and Policies. 
 Section 6.4 Transfer of Know-How. For the
avoidance of doubt, unless specifically stated otherwise, nothing under this Agreement shall obligate Licensor to provide or otherwise make available to Licensee any copies or embodiments of any Know-How or make or provide or otherwise make
available to Licensee any updates to any Know-How (even if Licensor or its Affiliates updates same for their own use). 
 Section 6.5
Survival. The confidentiality and nondisclosure obligations of this Article VI shall survive the expiration or termination of this Agreement for a period of 20 years from the Effective Date. 

ARTICLE VII 
 TERM

 Section 7.1 Term. Except as provided in Section 7.2, the terms of the licenses and other grants of rights
under this Agreement shall as applicable, survive any expiration or earlier termination of this Agreement, and shall extend for the following durations: (a) with respect to each patent that is included in Licensed IP, until expiration of the
last Valid Claim included in such patent; (b) with respect to Air Products Licensed Engineering Standards and Policies, for the adoption period set out in Section 2.1(b); and (c) with respect to the Versum Licensed Megasys Know
How, until the expiration of the [On Semi Roznov Contract] as set out in Section 2.2(b). Except as otherwise expressly set forth in Section 7.2, or elsewhere in this Agreement, or unless one Party is in material breach of any
of the terms and conditions herein and such breach is not cured within ninety (90) days of receiving Notice, this Agreement may not be terminated unless agreed to in writing by the Parties. 

Section 7.2 Termination of Licenses to the Air Products Licensed Engineering Process Standards and Policies for Change of Control.

 (a) In the event of a Change of Control of Versum or any of its Affiliates, the licenses granted to Versum with respect to the Air
Products Licensed Engineering and Process Standards and Policies shall immediately and automatically terminate; provided that Versum shall, for a period not to exceed 30 days from the Change of Control and subject to and only to the extent
permitted under Section 2.1(b), be permitted to continue to use such Air Products Licensed Engineering and Process Standards and Policies at locations where they are currently being used to the extent necessary to operate and maintain
the applicable Versum Assets (subject to the terms hereof) and transition to alternative engineering process standards and policies. 

  
 13 

 (b) Upon termination (pursuant to Section 7.2(a)) of the license granted in
Section 2.1(b), Versum shall, and shall ensure that the Versum Sublicensees, within fifteen (15) Business Days of any request by Air Products following expiration of the transition period set forth in Section 7.2(a), use
their best efforts to return to Air Products or, at Versum’s election, destroy all Air Products Licensed Engineering and Process Standards and Policies that are in their possession or control, and Versum shall provide to Air Products a
certification from a duly authorized officer of Versum certifying that Versum has, to the extent possible, destroyed all such Air Products Licensed Engineering and Process Standards and Policies, including all copies, adaptations, translations and
derivative works thereof. 
 ARTICLE VIII 

MISCELLANEOUS 

Section 8.1 Amendment. This Agreement may not be modified or amended except by an agreement in writing signed by the Parties. 

Section 8.2 Waiver. Any consent required or permitted to be given by any Party to the other Party under this Agreement shall be in
writing and signed by the Party giving such consent and shall be effective only against such Party. No failure or delay on the part of any Party in the exercise of any right hereunder shall impair such right or be construed to be a waiver of, or
acquiescence in, any breach of any representation, warranty, or agreement herein, nor shall any single or partial exercise of such right preclude other or further exercise thereof or any other right. 

Section 8.3 Complete Agreement. This Agreement, including the Schedules hereto, shall constitute the entire agreement between the
Parties with respect to the subject matter hereof and shall supersede all previous negotiations, commitments, course of dealings and writings with respect to such subject matter. 

Section 8.4 Assignment. This Agreement shall not be assignable, in whole or in part, directly or indirectly, by any Party without
the prior written consent of the other Party (not to be unreasonably withheld or delayed), and any attempt to assign any rights or obligations arising under this Agreement without such consent shall be void. Notwithstanding the foregoing, this
Agreement shall be assignable, in whole or in part, to (i) an Affiliate or (ii) a bona fide Third Party in connection with a merger, reorganization, consolidation or the sale or other transfer of all or a portion of the business or assets
of a Party or its Affiliates to which this Agreement relates, so long as the resulting, surviving or transferee entity assumes all of the applicable obligations of the relevant Party by operation of law or pursuant to a written agreement
(provided that for clarity, Versum shall not assign any of its rights hereunder with respect to the Air Products Licensed Engineering and Process Standards and Policies without Air Products’ prior written consent, except, subject to
Section 7.2, in the case of a Change of Control). No assignment permitted by this Section 8.4 shall release the assigning Party from liability for the full performance of its obligations under this Agreement prior to such
assignment (or, with 

  
 14 

 
respect to any assignments of this Agreement in part, following such assignment with respect to such parts of this Agreement not so assigned). At the written request of a Party, the other Party
shall promptly notify the requesting Party in writing of all Persons to which this Agreement or any part hereof has been assigned (and provide any other information reasonably requested in connection therewith). 

Section 8.5 Severability. In the event any one or more of the provisions contained in this Agreement should be held invalid,
illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not in any way be affected or impaired thereby. The Parties shall endeavor in good-faith negotiations to replace
the invalid, illegal or unenforceable provisions with valid provisions, the economic effect of which comes as close as possible to that of the invalid, illegal or unenforceable provisions. 

Section 8.6 Notices. Without limiting Section 8.7, all notices, requests, claims, demands, and other communications
hereunder shall be in English, shall be in writing and shall be given or made (and shall be deemed to have been duly given or made upon receipt) by delivery of an original via overnight courier service or by registered or certified mail (postage
prepaid, return receipt requested) to the respective Parties at the following addresses (or at such other address for a Party as shall be specified in a notice given in accordance with this Section 8.6): 

If to Versum, to: 
 Versum
Materials U.S., LLC 
 [ • ] 

ATTN: LEGAL/PATENT 

DEPARTMENT 
 If to Air
Products, to: 
 Air Products and Chemicals, Inc. 

7201 HAMILTON BLVD. 

ALLENTOWN, PA 18195 

ATTN: LEGAL/PATENT DEPARTMENT 
 or to such other
address as the Person to whom notice is given may have previously furnished to the others in writing in the manner set forth above (provided that notice of any change of address shall be effective only upon receipt thereof). 

  
 15 

 Section 8.7 Governing Law. This Agreement shall be governed by and construed in
accordance with the laws of the State of Delaware, regardless of the laws that might otherwise govern under applicable principles of conflicts of laws thereof; provided that all questions concerning the construction or effect of patent
applications and patents, and the provisions of this Agreement concerning Patent Challenges, shall be decided in accordance with the laws of the country in which the particular patent application or patent concerned has been filed or granted, as the
case may be. 
 Section 8.8 Dispute Resolution. Any Disputes (as defined in the Separation Agreement) arising under this
Agreement shall be handled in accordance with the terms set out in Article VIII of the Separation Agreement. 
 Section 8.9
Bankruptcy. All rights and licenses granted under or pursuant to this Agreement by a Licensor are, and will otherwise be deemed to be, for purposes of Section 365(n) of the United States Bankruptcy Code, licenses of rights to
“intellectual property” as defined under Section 101 of the United States Bankruptcy Code regardless of the form or type of intellectual property under or to which such rights and licenses are granted and regardless of whether the
intellectual property is registered in or otherwise recognized by or applicable to the United States of America or any other country or jurisdiction. The Parties agree that the Parties, as licensees of such rights under this Agreement, will retain
and may fully exercise all of their rights and elections under the United States Bankruptcy Code. The Parties further agree that, in the event of the commencement of a bankruptcy proceeding by or against a Party under the United States Bankruptcy
Code, the Party hereto that is not a Party to such proceeding will be entitled to a complete duplicate of (or complete access to, as appropriate) any such intellectual property and all embodiments of such intellectual property, which, if not already
in the non-subject Party’s possession, will be promptly delivered to it (a) upon any such commencement of a bankruptcy proceeding upon the non-subject Party’s written request therefore, unless the Party subject to such proceeding
continues to perform all of its obligations under this Agreement or (b) if not delivered under clause (a) above, following the rejection of this Agreement by or on behalf of the Party subject to such proceeding upon written request
therefore by the non-subject Party. 
 Section 8.10 Title and Headings. Titles and headings to sections herein are inserted for
the convenience of reference only and are not intended to be a part of or to affect the meaning or interpretation of this Agreement. 

Section 8.11 Counterparts. This Agreement may be executed in more than one counterpart, all of which shall be considered one and
the same agreement, and shall become effective when one or more such counterparts have been signed by each of the Parties and delivered to each of the Parties. Facsimile transmission (including the e-mail delivery of documents in Adobe PDF format)
of any signed original counterpart and/or retransmission of any signed facsimile transmission shall be deemed the same as the delivery of an original. 

Section 8.12 Expenses. Whether or not the transactions contemplated by this Agreement are consummated, and except as otherwise
expressly set forth herein, all costs and expenses (including legal fees, accounting fees, investment banking fees, and filing fees) incurred in connection with the transactions contemplated by this Agreement shall be paid by the Party incurring
such expenses. 

  
 16 

 Section 8.13 Parties in Interest. The provisions of this Agreement and the
obligations and rights hereunder shall be binding upon, inure to the benefit of and be enforceable by (and against) the Parties and their respective successors and permitted transferees and assigns. Nothing in this Agreement, express or implied, is
intended to confer upon any Person other than Air Products and Versum including their respective Subsidiaries, successors and permitted transferees and assigns, any rights or remedies under or by reason of this Agreement. 

Section 8.14 Construction. The Parties acknowledge that each Party and its counsel have reviewed and revised this Agreement and
that any rule of construction to the effect that any ambiguities are to be resolved against the drafting Party shall not be employed in the interpretation of this Agreement. 

Section 8.15 Relationship of the Parties. Nothing contained herein shall be deemed to create a partnership, joint venture, or
similar relationship between the Parties. Neither Party is the agent, employee, joint venture, partner, franchisee, or representative of the other Party. Each Party specifically acknowledges that it does not have the authority to, and shall not,
incur any obligations or responsibilities on behalf of the other Party. Notwithstanding anything to the contrary in this Agreement, each Party (and its officers, directors, agents, employees, and members) shall not hold themselves out as employees,
agents, representatives, or franchisees of the other Party or enter into any agreements on such Party’s behalf. 

  
 17 

 IN WITNESS WHEREOF, the Parties have caused this Agreement to be duly executed as of the day and
year first above written. 
  

			
	AIR PRODUCTS AND CHEMICALS, INC.
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	VERSUM MATERIALS U.S., LLC
		
	By:	 	  

	Name:	 	
	Title:	 	

  
 18ex10-1.htm

Exhibit 10.1

 

TERMINATION AGREEMENT

 

THIS TERMINATION AGREEMENT (this “Agreement”) is made and entered into as of September 7, 2016, by and among Eagle Bulk Shipping, Inc., a Republic of the Marshall Islands corporation (the “Company”), and the parties listed on Schedule I hereto (each, a “Purchaser” and collectively, the “Purchasers”), each of which is a “Purchaser” under that certain Preferred Stock Purchase Agreement, dated as of May 26, 2016, as amended, by and among the Company and the Purchasers (the “Purchase Agreement”). 

 

RECITALS

 

WHEREAS, the Company and the Purchasers have entered into the Purchase Agreement; 

 

WHEREAS, Section 7.1 of the Purchase Agreement provides that the Purchase Agreement may be terminated on a Purchaser-by-Purchaser basis by written mutual consent of the Company and each such Purchaser;

 

WHEREAS, the Company and each of the Purchasers have determined that they desire to terminate the Purchase Agreement on the terms and subject to the conditions set forth herein.

 

NOW, THEREFORE, in consideration of the mutual covenants and undertakings contained herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows:

 

ARTICLE I

DEFINITIONS

 

Section 1.1     Definitions.     Initially capitalized terms used but not otherwise defined in this Agreement shall have the meanings ascribed to such terms in the Purchase Agreement, including the exhibits thereto. For purposes of this Agreement, “Party” means the Company and each individual or financial institution listed on Schedule I hereto. The rules of interpretation set forth in Section 1.2 of the Purchase Agreement shall apply to this Agreement. Each reference in this Agreement to “this Agreement”, “hereunder”, “hereof”, “herein”, or words of like import shall mean and be a reference to this Agreement.

 

ARTICLE II

TERMINATION OF PURCHASE AGREEMENT

 

Section 2.1     Termination of Purchase Agreement. Each of the Purchasers and the Company mutually agree in accordance with Section 7.1 of the Purchase Agreement that, immediately upon execution of this Agreement, the Purchase Agreement is terminated and, except as otherwise set forth therein, shall be of no further force or effect.

 

Section 2.2     Termination Payment. In connection with the termination of the Purchase Agreement, the Company hereby agrees to pay each of the Purchasers on the date hereof its pro rata portion of $125,254.80 (the “Termination Payment”) as set forth on Schedule I hereto, calculated based on the number of shares of Preferred Stock each Purchaser had agreed to purchase under the Purchase Agreement divided by the total number of shares of Preferred Stock that all Purchasers had agreed to purchase under the Purchase Agreement, by wire transfer of immediately available funds or by certified check according to the payment instructions supplied in writing to the Company on or prior to the date hereof. 

 

 

 

 

 

Section 2.3     Effect of Termination; Releases. (a) Effective upon the execution and delivery of this Agreement, (i) each Purchaser, on behalf of itself and its Affiliates, and (ii) the Company, on behalf of itself and its Affiliates, hereby (x) forever, fully and completely terminate the Purchase Agreement and any and all rights, duties, interests and obligations thereunder except for any provisions therein that expressly survive termination and (y) forever, fully and completely agree that none of the Company, the Purchasers their Affiliates and any of their successors or assigns has any further rights, duties, interests or obligations under the Purchase Agreement of any kind or any nature whatsoever, including any obligation of the Company to issue or sell any preferred stock to any Purchaser or any other Person. 

 

(b)     In exchange for the consideration provided and described in this Agreement (which the parties hereto acknowledge is fair and adequate), each of the Company and each Purchaser and their respective Affiliates and any of their successors, and assigns, knowingly and voluntarily fully, forever, absolutely, irrevocably and unconditionally releases, withdraws, waives and discharges all other parties hereto, their Affiliates and each and all of their respective successors, assigns, and all of their past and present officers, directors, employees, servants, attorneys, agents, partners, shareholders, members and managers (each a “Released Party”), and covenants not to sue for, any and all claims, costs, expenses, attorneys’ fees, damages, indemnities, obligations, counterclaims, demands, causes of action, contracts, agreements, promises, obligations, defenses or liabilities of any kind whatsoever by reason of any act, omission, misrepresentation, cause, claim, counterclaim, cross-claim, right, matter or other basis of liability founded either in tort or contract, howsoever created, evidenced, arising or incurred, whether known or unknown, suspected or unsuspected, up to and including the date of this Agreement, in any way connected with or resulting from the Purchase Agreement and the transactions contemplated thereby (collectively, “Claims”). The release of Claims in this Section 2.3(b) shall be construed as broadly as possible and extend to claims of any nature whatsoever, other than any Claims relating specifically to this Agreement, any rights that expressly survive the termination of the Purchase Agreement pursuant to Section 7.2 thereof and the right to receive the Termination Payment hereunder. 

 

To the extent consistent with applicable law, each party hereto on behalf of itself and its Affiliates agrees not to file a complaint in any court or other tribunal (an “action”) against the other Released Parties with respect to any Claim which may have accrued, or which it may allege has accrued, with respect to any of the Released Parties relating to the Purchase Agreement. Further, to the extent any such action has been or may be brought by another person or entity, each party hereto on behalf of itself and its affiliates expressly waives its right to, and will not accept, any form of monetary relief or other damages, or any form of recovery or relief in connection with such action. Each party acknowledges that the terms of this Agreement do not constitute an admission by any party that such party violated any law or legal obligation whatsoever. Each party agrees to indemnify and hold the other Released Parties harmless from any liabilities, costs and expenses reasonably incurred by such Released Parties in respect of any breach of this Section 2.3(b) by such party or its affiliates, principals, agents, executors, administrators, successors, and assigns. By signing this Agreement, each party, on behalf of itself and its Affiliates, provides a complete waiver of all Claims that may have arisen, whether known or unknown. If any party breaches this Section 2.3(b), the Released Parties may seek restitution and/or offset of any payments made or benefits provided to the extent permitted by law.

 

 

-2-

 

 
ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

 

The Company represents and warrants, as of the date hereof, as follows:

 

Section 3.1     Organization. The Company and each Subsidiary is duly incorporated or formed and validly existing and in good standing under the law of its jurisdiction of incorporation or formation.

 

Section 3.2     Authorization. The Company has all requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder in accordance with the terms hereof. The execution, delivery and performance of this Agreement by the Company have been duly authorized by all necessary corporate action. This Agreement has been or will be duly executed and delivered by the Company, and this Agreement constitutes the legal, valid and binding obligation of the Company enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws relating to or affecting the enforcement of creditors’ rights generally and by general equitable principles.

 

Section 3.3     No Violation; Consents and Approvals. The execution and delivery by the Company of this Agreement does not, and the consummation by the Company of any of the transactions contemplated hereby and compliance by the Company with the terms, conditions and provisions hereof will not:

 

(i)     conflict with, violate, result (with the giving of notice or passage of time or both) in a breach of the terms, conditions or provisions of, or constitute a default, an event of default or an event creating rights of acceleration, termination or cancellation or a loss of rights under, or result in the creation or imposition of any Encumbrance upon any of the assets or properties of the Company or any Subsidiary under (A) the articles of incorporation or certificate of formation or the by-laws or limited liability company agreement, each as applicable, of the Company or any Subsidiary, (B) any note, instrument, agreement, contract, mortgage, lease, license, franchise, guarantee, permit or other authorization, right, restriction or obligation to which the Company or any Subsidiary is a party or any of their respective assets or properties is subject or by which the Company or any Subsidiary is bound, (C) any Court Order to which the Company or any Subsidiary is a party or any of their respective assets or properties is subject or by which the Company or any Subsidiary is bound, or (D) any Requirements of Law applicable to the Company or any Subsidiary or any of their respective assets or properties; or

 

(ii)     require the approval, consent, authorization or act of, or the making by the Company or any Subsidiary of any declaration, filing or registration with, any Person (including under the Securities Act or state securities laws).

 

 

-3-

 

 
ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE Purchasers 

 

Each Purchaser, severally and not jointly, represents and warrants, as of the date hereof, as follows:

 

Section 4.1     Organization. Such Purchaser is duly organized, validly existing and in good standing under the laws of the jurisdiction in which it is organized.

 

Section 4.2     Authorization. Such Purchaser has full power and authority to execute and deliver this Agreement and to perform its obligations hereunder in accordance with the terms hereof. This Agreement has been or will be duly executed and delivered by such Purchaser, and constitutes the legal, valid and binding obligation of such Purchaser, enforceable in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium and similar laws relating to or affecting the enforcement of creditors’ rights generally and by general equitable principles.

 

Section 4.3     No Violation. The execution and delivery and performance by such Purchaser of this Agreement do not conflict with, violate or result (with the giving of notice or passage of time or both) in a breach of the terms, conditions or provisions of the certificate of incorporation or by-laws or comparable organizational documents of such Purchaser, or any Court Order to which such Purchaser is a party.

 

Section 4.4     Acknowledgment. Each Purchaser acknowledges and understands that by executing this Agreement, it is releasing the Company from any and all obligation to issue the Preferred Stock and, other than any rights that expressly survive the termination of the Purchase Agreement pursuant to Section 7.2 thereof and the right to receive the Termination Payment hereunder, such Purchaser shall not have any other rights under the Purchase Agreement or in the transactions contemplated thereby.

 

ARTICLE V

MISCELLANEOUS

 

Section 5.1     Survival of Obligations. All representations, warranties, covenants, agreements and obligations contained in this Agreement shall survive the consummation of the transactions contemplated by this Agreement.

 

 

-4-

 

 

Section 5.2     Notices. All notices or other communications required or permitted hereunder shall be in writing and shall be deemed given or delivered (i) when delivered personally, (ii) when delivered by electronic mail (so long as notification of a failure to deliver such electronic mail is not received by the sending party), (iii) if transmitted by facsimile when confirmation of transmission is received by the sending party, (iv) if sent by registered or certified mail, postage prepaid, return receipt requested, on the third business day after mailing or (v) if sent by reputable overnight courier when received; and shall be addressed to each Purchaser as set forth on its respective signature pages and if to the Company as follows:

 

Eagle Bulk Shipping Inc.
                300 First Stamford Place, 5th Floor

Stamford, Connecticut 06902

Attention: Adir Katzav

Facsimile: 203 276-8199

Email: akatzav@eagleships.com

 

with a copy to:

 

Akin Gump Strauss Hauer & Feld LLP 
                1333 New Hampshire Ave. N.W. 

Washington, DC 20036

Attention: Daniel I. Fisher

Facsimile: 202 887-4288

Email: dfisher@akingump.com

 

Any Party may, from time to time, change its address, facsimile number, e-mail address or other information for the purpose of notices to that Party by giving notice specifying such change to the other.

 

Section 5.3     Execution in Counterparts; Effectiveness. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument, and shall become binding when one or more counterparts have been signed by and delivered to each of the Parties.

 

Section 5.4     Amendments. This Agreement shall not be amended, modified or supplemented except by a written instrument signed by all of the Parties. 

 

Section 5.5     Waivers. Any term or provision of this Agreement may be waived, or the time for its performance may be extended, by the Party or Parties entitled to the benefit thereof. Any such waiver shall be validly and sufficiently authorized for the purposes of this Agreement if, as to any Party, it is in writing signed by an authorized representative of such Party. The failure or delay of any Party to enforce at any time any provision of this Agreement shall not be construed to be a waiver of such provision, nor in any way to affect the validity of this Agreement or any part hereof or the right of any Party thereafter to enforce each and every such provision. No waiver of any breach of this Agreement shall be held to constitute a waiver of any other or subsequent breach.

 

Section 5.6     Severability. Wherever possible, each provision hereof shall be interpreted in such manner as to be effective and valid under applicable law, but in case any one or more of the provisions contained herein shall, for any reason, be held to be invalid, illegal or unenforceable in any respect, such provision shall be ineffective to the extent, but only to the extent, of such invalidity, illegality or unenforceability without invalidating the remainder of such invalid, illegal or unenforceable provision or provisions or any other provisions hereof, unless such a construction would be unreasonable.

 

 

-5-

 

 

Section 5.7     Assignment; Successors and Assigns. Neither this Agreement nor any of the rights and obligations of any Party hereunder may be assigned, delegated or otherwise transferred by such Party without the prior written consent of each other Party; provided, that any Purchaser may assign, in its sole discretion, any or all of its rights, interests and obligations under this Agreement to any of its Affiliates. No such assignment, delegation or other transfer shall relieve the assignor of any of its obligations or liabilities hereunder. This Agreement shall be binding upon and shall inure to the benefit of the Parties and their respective successors and permitted assigns.

 

Section 5.8     No Third Party Beneficiaries. Nothing in this Agreement, express or implied, is intended or shall be construed to confer upon any third Person, other than the Parties and their respective successors and assigns permitted by Section 5.7, any right, remedy or claim under or by reason of this Agreement.

 

Section 5.9     Governing Law. This Agreement shall be governed by and construed in accordance with the substantive laws of the State of New York without regard to its conflict of laws principles.

 

Section 5.10     Submission to Jurisdiction. Each of the Parties hereby irrevocably and unconditionally submits, for itself and its property, to the non-exclusive jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the Parties hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in such New York State or, to the extent permitted by law, in such Federal court. Each of the Parties agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that any Purchaser may otherwise have to bring any action or proceeding relating to this Agreement against the Company and its Subsidiaries or their respective properties in the courts of any jurisdiction or any right that the Company may otherwise have to bring any action or proceeding relating to this Agreement against any Purchaser or its properties in the courts of any jurisdiction. Each Party irrevocably waives, to the fullest extent permitted by law, any objection that it may now or hereafter have to the laying of venue of any such proceeding brought in such a court referred to in the first sentence of this Section 5.10 and any claim that any such proceeding brought in such a court has been brought in an inconvenient forum.

 

Section 5.11.     WAIVER OF JURY TRIAL. EACH PARTY HEREBY WAIVES, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY(WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, TO IT THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

 

 

-6-

 

 

Section 5.12.     Public Announcements. The Company and the Purchasers shall consult with each other before issuing any press release or otherwise making any public statements with respect to the transactions contemplated herein, and shall not issue any such press release or make any such public statement that uses the name of any Purchaser or any affiliate thereof without the prior written consent of each such Purchaser and affiliate whose name is proposed to be used; provided, that no Purchaser shall make any public announcements or otherwise communicate with the news media with respect to this Agreement or the transactions contemplated hereby without the prior written consent of the Company. Notwithstanding the foregoing, any Party may make or cause to be made any press release or similar public announcement or communication as may be required to comply with (a) the requirements of applicable law, including the Exchange Act without prior notice as contemplated in the first sentence of this Section 5.12 or (b) its disclosure obligations or practices with respect to its investors; provided that prior to making any such disclosure under this clause (b), such Party shall provide a copy of such proposed disclosure to the Company and shall only publicly make such disclosure with the consent of the Company, which consent shall not be unreasonably withheld or delayed, if the Company has not previously made a public announcement of the transactions contemplated hereby.

 

Section 5.13     Entire Agreement. This Agreement and the Schedule hereto constitute the entire agreement and understanding among the Parties with respect to the subject matter contained herein or therein, and supersede any and all prior agreements, negotiations, discussions, understandings, term sheets or letters of intent between or among any of the Parties with respect to such subject matter.

 

[SIGNATURE PAGE FOLLOWS]

 

 

-7-

 

 

IN WITNESS WHEREOF, the Parties have executed this Amendment, to be effective on the date first above written.

 

EAGLE BULK SHIPPING INC.

 

 

 

By:    /s/ Adir Katzav                                          
Name:    Adir Katzav
Title:      Chief Financial Officer

 

 

[Signature Page to Termination Agreement]

 

 

 

 

	
 
	
OAKTREE VALUE OPPORTUNITIES FUND, L.P.

 

By: Oaktree Value Opportunities Fund GP, L.P., its General Partner

 

By: Oaktree Value Opportunities Fund GP Ltd., its General Partner

 

By: Oaktree Capital Management, L.P., its Director

 

 

 

By: /s/ Mahesh Balakrishnan                             

       Name: Mahesh Balakrishnan

       Title: Managing Director

 

 

By: /s/ Robert O’ Leary                                        

        Name: Robert O’Leary

        Title: Managing Director

 

 

 

	Notice Information:   	
Oaktree Capital Management, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attn: Hyunjoo Quon

Phone: (213) 830-6298

Fax: (213) 830-6294

Email: hquon@oaktreecapital.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
OAKTREE HUNTINGTON INVESTMENT FUND, L.P.

 

By: Oaktree Huntington Investment Fund GP, L.P., its General Partner

 

By: Oaktree Huntington Investment Fund GP Ltd., its General Partner

 

By: Oaktree Capital Management, L.P., its Director

 

 

By: /s/ Mahesh Balakrishnan                              

       Name: Mahesh Balakrishnan

       Title: Managing Director

 

 

By: /s/ Robert O’ Leary                                        

       Name: Robert O’Leary

       Title: Managing Director

 

 

 

	Notice Information:  	
Oaktree Capital Management, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attn: Hyunjoo Quon

Phone: (213) 830-6298

Fax: (213) 830-6294

Email: hquon@oaktreecapital.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
OAKTREE OPPORTUNITIES FUND VIIIB, L.P.

 

By: Oaktree Opportunities Fund VIIIb GP, L.P., its General Partner

 

By: Oaktree Opportunities Fund VIIIb GP Ltd., its General Partner

 

By: Oaktree Capital Management, L.P., its Director

 

 

 

By: /s/ Mahesh Balakrishnan                            

       Name: Mahesh Balakrishnan

       Title: Managing Director

 

 

By: /s/ Robert O’ Leary                                     

       Name: Robert O’Leary

       Title: Managing Director

 

 

 

	Notice Information:  	
Oaktree Capital Management, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attn: Hyunjoo Quon

Phone: (213) 830-6298

Fax: (213) 830-6294

Email: hquon@oaktreecapital.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
OAKTREE OPPORTUNITIES FUND VIIIB (PARALLEL), L.P.

 

By: Oaktree Opportunities Fund VIIIb GP, L.P., its General Partner

 

By: Oaktree Opportunities Fund VIIIb GP Ltd., its General Partner

 

By: Oaktree Capital Management, L.P., its Director

 

 

 

By: /s/ Mahesh Balakrishnan          

       Name: Mahesh Balakrishnan

       Title: Managing Director

 

 

By: /s/ Robert O’ Leary                     

       Name: Robert O’Leary

       Title: Managing Director

 

 

 

	Notice Information:  	
Oaktree Capital Management, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attn: Hyunjoo Quon

Phone: (213) 830-6298

Fax: (213) 830-6294

Email: hquon@oaktreecapital.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
OAKTREE OPPORTUNITIES IX, L.P.

 

By: Oaktree Opportunities Fund IX GP, L.P., its General Partner

 

By: Oaktree Opportunities Fund IX GP Ltd., its General Partner

 

By: Oaktree Capital Management, L.P., its Director

 

 

 

By: /s/ Mahesh Balakrishnan          

       Name: Mahesh Balakrishnan

       Title: Managing Director

 

 

By: /s/ Robert O’ Leary                    

       Name: Robert O’Leary

       Title: Managing Director

 

 

 

	
 Notice Information:   
	
Oaktree Capital Management, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attn: Hyunjoo Quon

Phone: (213) 830-6298

Fax: (213) 830-6294

Email: hquon@oaktreecapital.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
OAKTREE OPPORTUNITIES FUND IX (PARALLEL), L.P.

 

By: Oaktree Opportunities Fund IX GP, L.P., its General Partner

 

By: Oaktree Opportunities Fund IX GP Ltd., its General Partner

 

By: Oaktree Capital Management, L.P., its Director

 

 

 

By: /s/ Mahesh Balakrishnan          

       Name: Mahesh Balakrishnan

       Title: Managing Director

 

 

By: /s/ Robert O’ Leary                    

      Name: Robert O’Leary

      Title: Managing Director

 

 

 

	
 .Notice Information:   
	
Oaktree Capital Management, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attn: Hyunjoo Quon

Phone: (213) 830-6298

Fax: (213) 830-6294

Email: hquon@oaktreecapital.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
OAKTREE OPPORTUNITIES FUND IX (PARALLEL 2), L.P.

 

By: Oaktree Opportunities Fund IX GP, L.P., its General Partner

 

By: Oaktree Opportunities Fund IX GP Ltd., its General Partner

 

By: Oaktree Capital Management, L.P., its Director

 

 

 

By: /s/ Mahesh Balakrishnan          

       Name: Mahesh Balakrishnan

       Title: Managing Director

 

 

By: /s/ Robert O’ Leary                    

       Name: Robert O’Leary

       Title: Managing Director

 

 

 

 

	
 Notice Information:   
	
Oaktree Capital Management, L.P.

333 South Grand Avenue, 28th Floor

Los Angeles, CA 90071

Attn: Hyunjoo Quon

Phone: (213) 830-6298

Fax: (213) 830-6294

Email: hquon@oaktreecapital.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
NB DISTRESSED DEBT MASTER FUND LP

 

By: Neuberger Berman Investment Advisers LLC, as Investment Manager

 

 

 

By:      /s/ Ravi Soni                    

Name: Ravi Soni

Title:   Senior Vice President

 

 

 

 

	
 Notice Information:   
	
NB Distressed Debt Master Fund LP

c/o Neuberger Berman

190 S. La Salle St., Suite 2300

Chicago, IL 60603

Attn: Bank Loan Team

Phone: (312) 325-7798

Fax: (214) 919-7320

Email: 12149197320@tls.ldsprod.com

 

with a copy to:

 

Email: FIBankLoanSettlements@nb.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
NB DISTRESSED DEBT INVESTMENT FUND LIMITED

 

By: Neuberger Berman Investment Advisers LLC, as Investment Manager

 

 

 

By: /s/ Ravi Soni                                         

       Name: Ravi Soni

       Title:   Senior Vice President

 

 

 

	
 Notice Information:  
	
NB Distressed Debt Investment Fund Limited

c/o Neuberger Berman

190 S. La Salle St., Suite 2300

Chicago, IL 60603

Attn: Bank Loan Team

Phone: (312) 325-7798

Fax: (201) 719-2191

Email: 12017192191@tls.ldsprod.com

 

with a copy to:

 

Email: FIBankLoanSettlements@nb.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
GOLDENTREE 2004 TRUST

 

By: GoldenTree Asset Management, LP, its Investment Advisor

 

 

 

By: /s/ Karen Weber                                    

       Name: Karen Weber

       Title:   Director—Bank Debt

 

 

 

	
 Notice Information:  
	
GoldenTree 2004 Trust

300 Park Avenue, 21st Floor

New York, NY 10022

Attn: Brian DaSilva

Phone: (212) 847-3548

Fax: (212) 847-3429

Email: GTAMNOTICES@goldentree.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
GT NM, L.P.

 

By: GoldenTree Asset Management, LP

 

 

 

By: /s/ Karen Weber                                                

       Name: Karen Weber

       Title:   Director—Bank Debt

 

 

 

	
 Notice Information:   
	
GT NM, L.P.

300 Park Avenue, 21st Floor

New York, NY 10022

Attn: Brian DaSilva

Phone: (212) 847-3548

Fax: (212) 847-3429

Email: GTAMNOTICES@goldentree.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
SAN BERNARDINO COUNTY EMPLOYEES' RETIREMENT ASSOCIATION

 

By: GoldenTree Asset Management, LP

 

 

 

By: /s/ Karen Weber                                       

       Name: Karen Weber

       Title:   Director—Bank Debt

 

 

 

	
 Notice Information:   
	
San Bernardino County Employees’ Retirement Association

300 Park Avenue, 21st Floor

New York, NY 10022

Attn: Brian DaSilva

Phone: (212) 847-3548

Fax: (617) 310-5669

Email: GTAMNOTICES@goldentree.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
LISA AND STEVEN TANANBAUM FAMILY FOUNDATION

 

 

 

By: /s/ Steven Tananbaum                                     

       Name: Steven Tananbaum

       Title:   Authorized Signatory

 

 

 

	
 Notice Information:   
	
Lisa and Steven Tananbaum Family Foundation

10 Loden Lane

Purchase, NY 10577

Attn: Steven Tananbaum, Robin Statsky and Felicia Jabbar

Fax: (212) 847-3559

Email: stananbaum@goldentree.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

	
 
	
GARY S. VOGEL

 

 

 

/s/ Gary S. Vogel                                           

 

 

 

	
 Notice Information:  
	
Gary S. Vogel

c/o Eagle Bulk Shipping Inc.

300 First Stamford Place

Stamford, CT 06902

 

Phone: (303) 276-8100

Fax: (203) 276-8199

Email: gvogel@eagleships.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

  

	
 
	
PAUL LEAND

 

 

 

/s/ Paul Leand                                              

 

 

 

	
 Notice Information:   
	
Paul Leand

152 Stuyvesant Avenue

Rye, NY 10580

 

Phone: (917) 442-2300

Fax: (212) 208-4630 

Email: pleand@amausa.com

 

 

[Signature Page to Termination Agreement]

 

 

 

 

 

Schedule I

 

	  	 	 
	
Purchaser
	  	
Pro Rata Portion of

Termination Payment
	 
	
Oaktree Value Opportunities Fund, L.P.
	
$9,642.60
	  
	
Oaktree Huntington Investment Fund, L.P.
	
$158.40
	  
	
Oaktree Opportunities Fund VIIIB, L.P.
	
$16,097.40
	  
	
Oaktree Opportunities Fund VIIIB (Parallel), L.P.
	
$3,999.60
	  
	
Oaktree Opportunities Fund IX, L.P.
	
$40,609.80
	  
	
Oaktree Opportunities Fund IX (Parallel), L.P.
	
$7,227.00
	  
	
Oaktree Opportunities Fund IX (Parallel 2), L.P.
	
$495.00
	  
	
NB Distressed Debt Master Fund LP
	
$5,108.40
	  
	
NB Distressed Debt Investment Fund Limited
	
$7,484.40
	  
	
GoldenTree 2004 Trust
	
$31,383.00
	  
	
GT NM, L.P.
	
$336.60
	  
	
San Bernardino County Employees’ Retirement Association
	
$990.00
	  
	
Lisa and Steven Tananbaum Family Foundation
	
$653.40
	  
	
Gary Vogel
	
$534.60
	  
	
Paul Leand
	
$534.60

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