Document:

<PAGE>

                                                                 EXHIBIT 10.3(e)

                      SEVENTH AMENDMENT TO CREDIT AGREEMENT

                  THIS SEVENTH AMENDMENT TO CREDIT AGREEMENT (the "Amendment")
dated and effective as of December ____, 2003, is made by and among FREEMARKETS,
INC., a Delaware corporation (the "Borrower"), the Banks (as hereinafter
defined), SILICON VALLEY BANK, individually and in its capacity as Syndication
Agent (the "Syndication Agent"), and PNC BANK, NATIONAL ASSOCIATION, in its
capacity as administrative agent for the Banks (hereinafter referred to in such
capacity as the "Agent").

                              W I T N E S S E T H:

         WHEREAS, reference is made to that certain Credit Agreement, dated as
of November 3, 2000, by and among Borrower, the Banks from time to time party
thereto, the Syndication Agent, and the Agent, as amended by a First Amendment
thereto dated as of December 8, 2000, a Second Amendment thereto dated as of
February 7, 2001, a Third Amendment thereto dated as of October 31, 2001, a
Fourth Amendment thereto dated as of October 10, 2002, a Fifth Amendment thereto
dated as of December 26, 2002, and a Sixth Amendment thereto dated as of
February 28, 2003 (as so amended, the "Credit Agreement"); and

         WHEREAS, the parties hereto desire to amend certain terms of the Credit
Agreement as hereinafter provided.

         NOW, THEREFORE, the parties hereto, in consideration of their mutual
covenants and agreements hereinafter set forth and intending to be legally bound
hereby, covenant and agree as follows:

         1.       Definitions.

         Capitalized terms used herein unless otherwise defined herein shall
have the meanings ascribed to them in the Credit Agreement as amended by this
Amendment.

         2.       Amendment of Credit Agreement.

                  (a)      The definition of EBITDA as set forth in Section 1.1
[Certain Definitions.] of the Credit Agreement is hereby amended and restated in
its entirety to read as follows:

                  "EBITDA shall mean for any fiscal quarter, determined for the
                  Borrower and its Subsidiaries in accordance with GAAP on a
                  consolidated basis, the net income for such quarter (as a
                  positive number) adjusted as follows: (i) increased by adding
                  back to such amount, the amount of each of the following
                  expenses actually deducted during such fiscal quarter in the
                  determination of such net income: interest expense, income
                  taxes, depreciation, amortization and noncash items of
                  expense; (ii) if the fiscal quarter for which EBITDA is being
                  determined is the fiscal quarter of the Borrower ended
                  December 31, 2003, then increased by

<PAGE>

                  adding back to such amount, the amount equal to the lesser of
                  (y) $5,200,000, and (z) the actual amount of non-recurring
                  charges related to the closing of the Borrower's Brussels,
                  Belgium operations and write off of future lease obligations
                  related to the abandonment of the 28th floor in FreeMarkets
                  Center, which charges are actually deducted during such fiscal
                  quarter in the determination of such net income; and (iii)
                  reduced by subtracting from such amount the amount of non-cash
                  income actually included during such fiscal quarter in the
                  determination of such net income."

                  (b)      Section 1.1 [Certain Definitions.] of the Credit
Agreement is hereby amended to insert, between the definitions of "Borrower" and
"Borrowing Base" the following new definition of "Borrower's Investment Policy":

                  "Borrower's Investment Policy shall mean the Investment Policy
                  Guidelines of FreeMarkets Investment Company, Incorporated, a
                  wholly-owned Subsidiary of the Borrower, dated as of November
                  13, 2003, as amended, modified, supplemented or restated from
                  time to time as permitted by Section 8.2.20 [Restrictions on
                  Amendments to Borrower's Investment Policy.] , which policy is
                  applicable to the Borrower and its Subsidiaries."

                  (c)      Clause (iv) of Section 8.2.4 [Loans and Investments.]
of the Credit Agreement is hereby amended and restated to read as follows:

                  "(iv) the following permitted investments: (a) marketable
                  direct obligations issued or unconditionally guaranteed by the
                  United States of America or any agency, state or
                  instrumentality thereof; (b) bank obligations, including
                  certificates of deposit, bank notes and bankers acceptances
                  when issued by banks whose long-term debt is rated "A" or
                  higher by Moody's or Standard & Poor's and whose short-term
                  obligations are rated "P1" or higher or "A1" or higher by
                  Moody's or Standard & Poor's, respectively; (c) corporate
                  obligations, including notes rated "A" or higher by Moody's or
                  Standard & Poor's and commercial paper rated "P1" or higher or
                  "A1" or higher by Moody's or Standard & Poor's, respectively;
                  (d) repurchase agreements collateralized at a minimum of 102%
                  with U.S. Treasury securities or other securities rated "AAA"
                  or equivalent by Moody's " or Standard & Poor's; (e) money
                  market mutual funds over $1 billion in assets, with a
                  historically constant dollar net asset value, substantially
                  consisting of acceptable securities as stated above in this
                  clause (iv); (f) mutual funds with fluctuating net asset
                  values substantially consisting of acceptable securities as
                  stated above in this clause (iv); provided, that the asset
                  weighted average durations may not exceed 12 months; provided,
                  further, that not more than $50,000,000 or 25% of the total
                  amount of investable cash of the Loan Parties, whichever is
                  less, may be invested at any one time in such mutual funds;
                  (g) adjustable rate preferred stock rated "Aa2" or higher or
                  "AA" or higher by Moody's or Standard & Poor's, respectively;
                  provided, that the maximum effective maturity of individual
                  securities may not exceed 24 months, and the average maturity
                  of all securities purchased may not exceed 12 months;
                  provided, further, that not more than $50,000,000 or 25% of
                  the total amount of investable cash, whichever is less, may

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<PAGE>

                  be invested at any one time in adjustable rate preferred
                  stock; or (h) so long as cash of the Borrower in an amount
                  (such amount being hereinafter referred to in this clause (iv)
                  as the "Threshold Amount") equal to or exceeding one hundred
                  twenty five percent (125%) of the Commitments is either held
                  in cash or has been invested in investments otherwise
                  permitted by items (a) through and including (g) of this
                  clause (iv), then cash in excess of the Threshold Amount may
                  be invested in other investments which are made in accordance
                  with the Borrower's Investment Policy;"

                  (d)      Section 8.2 [Negative Covenants] is hereby amended by
adding thereto the following new Section 8.2.20 [Restrictions on Amendments to
Borrower's Investment Policy] as follows:

                  "8.2.20  Restrictions on Amendments to Borrower's Investment
                  Policy.

                  The Borrower shall not and shall not permit any of its
                  Subsidiaries to amend, modify, supplement or restate the
                  Borrower's Investment Policy without providing at least 10
                  Business Days prior notice thereof to the Agent and each of
                  the Banks (together with a copy of the proposed amendment,
                  modification, supplement or restatement) and, in the event
                  that such amendment, modification, supplement or restatement
                  would be materially adverse to the Borrower or any Subsidiary
                  of the Borrower, the Agent or any Bank, as determined by the
                  Required Banks in their reasonable discretion, obtaining the
                  prior written consent of the Required Banks, which consent
                  shall not be unreasonably withheld."

         3.       Conditions of Effectiveness of this Amendment. The
effectiveness of this Amendment is expressly conditioned upon satisfaction of
each of the following conditions precedent:

                  (a)      Fees and Expenses. The Borrower shall pay or cause to
be paid to the Agent for itself and for the account of the Banks the reasonable
costs and expenses of the Agent and the Banks including, without limitation,
reasonable fees of the Agent's counsel in connection with this Amendment.

                  (b)      No Default. Confirmation of Representations and
Warranties, etc. As of the date hereof after giving effect hereto, no Event of
Default or Potential Default shall have occurred. The Borrower by executing this
Amendment hereby certifies and confirms that as of the date hereof and after
giving effect to this Amendment: (a) the execution, delivery and performance of
this Amendment and any and all other documents executed and/or delivered in

                                       3
<PAGE>

connection herewith have been authorized by all requisite corporate action on
the part of the Borrower and will not violate the Borrower's articles of
incorporation or bylaws, (b) no Event of Default or Potential Event of Default
has occurred or would result from the execution, delivery and performance of
this Amendment, (c) the representations and warranties of the Loan Parties
contained in the Credit Agreement and the other Loan Documents are true and
correct on and as of the date hereof with the same force and effect as though
made by the Loan Parties on such date (except representations and warranties
which relate solely to an earlier date or time), and (d) the Credit Agreement
(as amended by a First Amendment thereto dated as of December 8, 2000, a Second
Amendment thereto dated as of February 7, 2001, a Third Amendment thereto dated
as of October 31, 2001, a Fourth Amendment thereto dated as of October 10, 2002,
a Fifth Amendment thereto dated as of December 26, 2002, a Sixth Amendment dated
February 28, 2003 and this Amendment) and all other Loan Documents are and
remain legal, valid, binding and enforceable obligations in accordance with the
terms thereof.

                  (c)      Confirmation of Guaranty. Each of the Guarantors
shall have executed the Confirmation of Guaranty in the form attached hereto as
Exhibit A.

                  (d)      Organization, Authorization and Incumbency. There
shall be delivered to the Agent for the benefit of each Bank a certificate,
dated as of the date hereof and signed by the Secretary or an Assistant
Secretary of each Loan Party, certifying as appropriate as to:

                           (i)      all action taken by such Loan Party in
connection with this Amendment and the other Loan Documents;

                           (ii)     the names of the officer or officers
authorized to sign this Amendment and the other documents executed and delivered
in connection herewith and described in this Section 3 and the true signatures
of such officer or officers and specifying the officers authorized to act on
behalf of each Loan Party for purposes of the Loan Documents and the true
signatures of such officers, on which the Agent and each Bank may conclusively
rely; and

                           (iii)    copies of its organizational documents,
including its certificate of incorporation and bylaws if it is a corporation,
its certificate of partnership and partnership agreement if it is a partnership,
and its certificate of organization and limited liability company operating
agreement if it is a limited liability company, in each case as in effect on the
date hereof, certified by the appropriate state official where such documents
are filed in a state office together with certificates from the appropriate
state officials as to the continued existence and good standing of each of the
Loan Parties in each state where organized or qualified to do business; provided
that each of the Loan Parties may, in lieu of delivering copies of the foregoing
organizational documents and good standing certificates, certify that the
organizational documents and good standing certificates previously delivered by
the Loan Parties to the Agent remain in full force and effect and have not been
modified, amended or rescinded.

                  (e)      Consents and Approvals. To the extent any consent,
approval, order, or authorization or registration, declaration, or filing with
any governmental authority or other person or legal entity is required in
connection with the valid execution and delivery of this Amendment or the
carrying out or performance of any of the transactions required or

                                       4
<PAGE>

contemplated by this Amendment, all such consents, approvals, orders or
authorizations shall have been obtained or all such registrations, declarations,
or filings shall have been accomplished prior to the consummation of this
Amendment.

                  (f)      Legal Details; Counterparts. All legal details and
proceedings in connection with the transactions contemplated by this Amendment
shall be in form and substance satisfactory to the Agent, the Agent shall have
received from the Borrower and the Required Banks an executed original of this
Amendment and the Agent shall have received all such other counterpart originals
or certified or other copies of such documents and proceedings in connection
with such transactions, in form and substance satisfactory to the Agent.

                  (g)      Borrower's Investment Policy. The Borrower shall have
delivered to the Agent and each Bank a true and complete copy of Borrower's
Investment Policy (as such term is defined in Section 2 clause (b) above of this
Amendment.

This Amendment shall become effective when it has been executed by the Loan
Parties, the Agent and the Required Banks and each of the other conditions set
forth in this Section 3 has been satisfied.

         4.       Force and Effect. The Credit Agreement is amended hereby, and
any reference to the Credit Agreement or other Loan Documents in any document,
instrument, or agreement shall hereafter mean and include the Credit Agreement
as amended hereby. No novation is intended or shall occur by or as a result of
this Amendment. Borrower reconfirms, restates, and ratifies the Credit Agreement
as amended hereby and each of the other Loan Documents. This Amendment is not
intended to constitute, nor does it constitute, an interruption, suspension of
continuity, satisfaction, discharge of prior duties, novation, or termination of
the liens, security interests, indebtedness, loans, liabilities, expenses, or
obligations under the Credit Agreement or the other Loan Documents. The Borrower
and the Agent and each of the Banks acknowledges and agrees that the Collateral
has continued to secure the indebtedness, loans, liabilities, expenses, and
obligations under the Credit Agreement since the date of execution of each
applicable Loan Document, and all liens and security interests in the Collateral
which were granted pursuant to any of the Loan Documents shall remain in full
force and effect from and after the date hereof.

         5.       Governing Law. This Amendment shall be deemed to be a contract
under the laws of the Commonwealth of Pennsylvania and for all purposes shall be
governed by and construed and enforced in accordance with the internal laws of
the Commonwealth of Pennsylvania without regard to its conflict of laws
principles.

         6.       Counterparts. This Amendment may be signed 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.

                         [SIGNATURES BEGIN ON NEXT PAGE]

                                        5
<PAGE>

        [SIGNATURE PAGE 1 OF 3 TO SEVENTH AMENDMENT TO CREDIT AGREEMENT]

         IN WITNESS WHEREOF and intending to be legally bound hereby, the
parties hereto have executed this Amendment as of the date first above written.

ATTEST:                                   FREEMARKETS, INC.

______________________________________    By:_____________________________[Seal]
Name:_________________________________    Name:___________________________
Title:________________________________    Title:__________________________

<PAGE>

        [SIGNATURE PAGE 2 OF 3 TO SEVENTH AMENDMENT TO CREDIT AGREEMENT]

                                          PNC BANK, NATIONAL ASSOCIATION,
                                          individually and as Agent

                                          By:_________________________________
                                          Name:_______________________________
                                          Title:______________________________

<PAGE>

        [SIGNATURE PAGE 3 OF 3 TO SEVENTH AMENDMENT TO CREDIT AGREEMENT]

                                          SILICON VALLEY BANK,
                                          individually and as Syndication Agent

                                          By:_________________________________
                                          Name:_______________________________
                                          Title:______________________________

<PAGE>

                                    EXHIBIT A

                            CONFIRMATION OF GUARANTY

                              _______________, 2003

To:      FreeMarkets Investment Company, Inc. ("Guarantor")

         Reference is made to that certain Credit Agreement, dated as of
November 3, 2000, as amended by a First Amendment thereto dated as of December
8, 2000, a Second Amendment thereto dated as of February 7, 2001, a Third
Amendment thereto dated as of October 31, 2001, a Fourth Amendment dated as of
October 10, 2002, a Fifth Amendment thereto dated as of December 26, 2002, a
Sixth Amendment thereto dated as of February 28, 2003, and the Seventh Amendment
(as defined below) (the "Credit Agreement"), by and among FreeMarkets, Inc., a
Delaware corporation (the "Borrower"), the Banks from time to time party thereto
(the "Banks"), Silicon Valley Bank, individually and in its capacity as
Syndication Agent and PNC Bank, National Association, as administrative agent
for the Banks ("Agent"). All terms used herein unless otherwise defined herein
shall have the meanings as set forth in the Credit Agreement.

         The Borrower has requested that the Banks and the Agent enter into that
certain Seventh Amendment to the Credit Agreement, dated as of the date hereof
(the "Seventh Amendment"), a copy of which has been delivered to each Loan
Party.

         This letter agreement will confirm that the Guarantor has read and
understands the Seventh Amendment. In order to induce the Banks and the Agent to
enter into that Seventh Amendment, the Guarantor hereby consents to the Seventh
Amendment and all prior amendments described above and ratifies and confirms its
respective obligations under each of the Loan Documents (including all exhibits
and schedules thereto) to which it is a party by signing below as indicated,
including without limitation each Guaranty Agreement and each Security Agreement
to which it is a party. The Guarantor hereby acknowledges and agrees that
nothing contained in any of the Loan Documents is intended to create, nor shall
it constitute an interruption, suspension of continuity, satisfaction, discharge
of prior duties, novation or termination of the liens, security interests,
indebtedness, loans, liabilities, expenses or obligations of the Loan Parties
under the Credit Agreement or any other Loan Document.

                                          Very truly yours,

                                          PNC BANK, NATIONAL ASSOCIATION,
                                          as Agent

                                          By:_________________________________

<PAGE>

                   [SIGNATURE PAGE TO CONFIRMATION OF GUARANTY
                            DATED ____________, 2003]

Intending to be legally bound
hereby, the undersigned has
accepted and agreed to the
foregoing as of the date and
year first above written.

GUARANTOR:

FREEMARKETS INVESTMENT COMPANY, INC.

By:_________________________________
Name:_______________________________
Title:______________________________exv10w32

 

Exhibit 10.32

           , 2003

[Name of Director]

[Address of Director]

Dear [Name of Director]:

The purpose of this letter agreement is to set forth certain contractual
obligations of the parties with respect to positive space travel benefits to be
provided to you as a member of the board of directors (the “Board”) of America
West Holdings Corporation (the “Company”), including certain benefits that may
continue following your service as a director of the Company (a “Director”) and
following certain transactions.

Directors Travel Program

Eligibility

Pursuant to the Directors Travel Program, so long as you continue to serve as a
Director, you and your spouse, and your children so long as they remain your
dependents within IRS guidelines, (collectively, referred to herein as
“Participants”) are eligible for positive space travel benefits. In addition,
so long as you continue to serve as a Director, you shall be entitled, at no
cost to you, to membership in the America West Club (or any successor flight
club) and to the benefits of America West FlightFund Elite Platinum status (or
equivalent status in any successor frequent flyer program). Except as set
forth under “Director Resignation” and “Obligations of Successors” below,
eligibility will cease and all travel must be completed, and your Club
membership and FlightFund status will terminate, as of the date that you no
longer are serving as a Director.

Annual Limit

The benefits provided under the Directors Travel Program are subject to an
annual maximum dollar amount measured as of the date of travel (the “Annual
Travel Limit”). The value of any travel will be calculated in the same manner
as the value of imputed income for such flight benefits is calculated as set
forth in “Tax Consequences” below. The Annual Travel Limit is currently
$30,000. Unused benefits expire on December 31 of each year and may not be
carried over to the next year.

In addition to the automatic adjustments described below, the Annual Travel
Limit is subject to increase (or elimination) from time to time in the sole
discretion of the Board. The Annual Travel Limit may only be decreased with
the prior written consent of the Director. The Annual Travel Limit shall be
adjusted (a) annually (beginning with the year 2004) by multiplying such amount
by a fraction, the numerator of which shall be America West Airlines, Inc.’s
(“AWA”) average O&D based fares for the applicable year, as published with
respect to such year by

 

 

[Name of Director]

           , 2003

Page 2

AWA and distributed to participants in AWA’s positive space travel benefits
program (or, if not so published, as determined by the Company’s independent
auditors) (the “Average Fare”), and the denominator of which shall be the
Average Fare for the prior year and (b) after the adjustment described in
clause (a) above, automatically upon any change in the valuation methodology
for imputed income from travel benefits (as compared with the valuation
methodology for imputed income from travel benefits used by the Company on the
date hereof), so as to preserve the benefit of $30,000 annually (adjusted in
accordance with clause (a) above) of travel benefits relative to the current
valuation methodology (e.g., if a change in the valuation methodology results,
on average, in such travel benefits being valued at 15% higher than the current
valuation, then the Annual Travel Limit would be increased by 15% to $34,500,
assuming no other adjustments pursuant to clause (a) above). In determining
any adjustment pursuant to clause (b) above, the Company shall be entitled to
rely on a good faith calculation performed by its independent auditors based on
a statistically significant random sampling of O&D based fares compared with
the applicable prior O&D based fares for identical flights, which calculation
(and the basis for any adjustments pursuant to clause (a) above) will be
provided to you upon your request. The Company will promptly notify you in
writing of any adjustments to the Annual Travel Limit described in this
paragraph.

Carriers and Destinations

Participants are eligible for positive space travel on AWA and AWA Express and
any other airline operated by the Company or any of its affiliates or any
successor or successors thereto. As used herein, the term “affiliates” of the
Company means any entity controlled by, controlling, or under common control
with the Company, it being understood that control of an entity shall require
the direct or indirect ownership of a majority of the outstanding capital stock
of the such entity.

Booking Travel

Participants must book travel and arrange for the issuance of tickets either
(a) through the Company’s Corporate Secretary’s office or through such other
procedures as such office may specify, or (b) by using the barter card issued
to you. Participants will be confirmed as revenue passengers. Participants
are not eligible for any form of compensation (i.e., denied boarding, meals,
hotels, etc.) or rerouting on other carriers in the event of passenger
inconvenience. Advance seat assignments are subject to availability at the
time of booking travel. Participants will be required to present photo
identification at the time of check in. You and your spouse are eligible to
travel in either first class (F) or coach class (Y), at your option. Dependent
children must travel in coach class (Y). Tickets are non-refundable and may
not be cancelled. Tickets may, however, be re-issued (with different departure
date and/or time, but no change in itinerary) prior to departure to accommodate
unexpected changes which are beyond the Participant’s control.

 

 

[Name of Director]

           , 2003

Page 3

Reporting

You will receive a monthly statement summarizing activity, including travel
purchased by itinerary. You will be responsible for monitoring the balance of
the travel benefits used, including compliance with the established limits.
You will be required to reimburse the Company for any travel exceeding such
limits valued at full F or Y fare, as appropriate. You will also be required
to reimburse the Company for appropriate charges and fees for travel to Mexico
and Canada.

Tax Consequences

Taxable income for the benefits provided under the Directors Travel Program
will be imputed to you and reported on a calendar year basis. You will be
eligible for a tax gross up subject to an annual maximum dollar amount for
travel eligible for the tax gross up (the “Annual Gross Up Limit”). The Annual
Gross Up Limit is currently $20,000. The travel benefits will be valued based
upon the O&D based fares as published by AWA and distributed to participants in
AWA’s positive space travel benefits program from time to time, and will be
subject to a gross up factor of 1.75. You will be responsible for taxes on
Directors Travel Program benefits exceeding the Annual Gross Up Limit.

The Annual Gross Up Limit shall be adjusted (a) annually (beginning with the
year [2004]) by multiplying such amount by a fraction, the numerator of which
shall be the Average Fare for such year, and the denominator of which shall be
the Average Fare for the prior year and (b) after the adjustment described in
clause (a) above, automatically upon any change in the valuation methodology
for imputed income from travel benefits (as compared with the valuation
methodology for imputed income from travel benefits used by the Company on the
date hereof), so as to preserve the benefit of $20,000 annually (adjusted in
accordance with clause (a) above) of tax gross up relative to current valuation
methodology (e.g., if a change in the valuation methodology results, on
average, in such imputed income being valued at 15% higher than the current
valuation, then the Annual Gross Up Limit would be increased by 15% to $23,000,
assuming no other adjustments pursuant to clause (a) above). In determining
any adjustment pursuant to clause (b) above, the Company shall be entitled to
rely on a good faith calculation performed by its independent auditors based on
a statistically significant random sampling of O&D based fares compared with
the applicable prior O&D based fares for identical flights, which calculation
(and the basis for any adjustments pursuant to clause (a) above) will be
provided to you upon your request. The Company will promptly notify you in
writing of any adjustments to the Annual Gross Up Limit described in this
paragraph.

If a ticket was purchased but not used or reissued, a Participant should notify
the Company’s Corporate Secretary to ensure that such ticket is not deemed
compensation to you.

 

 

[Name of Director]

           , 2003

Page 4

Director Resignation

Upon your voluntary resignation or retirement from the Board while in good
standing, you and your spouse will be entitled to continue the positive space
travel, America West Club membership and America West FlightFund Elite Platinum
status benefits specified above pursuant to the Directors Travel Program (a)
for a period of five years if you served as a Director for more than two years
or (b) for life if you served as a Director for more than seven years; provided
that no tax gross up will be provided for such benefits.

These benefits shall be forfeited by you or your spouse if either of you become
an employee, director, 10 or more percent stockholder of, or partner in, or,
without the written consent of the Company’s chief executive officer, a
consultant to, any airline or company which intends to form an airline that
operates or proposes to operate jet aircraft to carry passengers in United
States domestic transportation (a “Prohibited Entity”). Travel benefits will
be reinstated at such time as your or your spouse’s employment or relationship
with the Prohibited Entity is terminated.

Obligations of Successors

Upon the occurrence of any Transaction (as defined below), any successor to the
Company or AWA or their assets shall be obligated to continue the flight
benefits, club membership and frequent flyer benefits to be provided pursuant
to the section “Director Resignation” above. Such flight benefits shall be
provided across the successor’s combined airline system, and in the successor’s
flight club(s) and at the highest status level of the successor’s frequent
flyer program following the Transaction.

For purposes of this letter agreement, a “Transaction” means the occurrence of
any of the following:

	 	1.	 	any individual, entity or group (within the meaning of Section
13(d)(3) or 14(d)(2) of the Securities Exchange Act of 1934, as amended
(the “Exchange Act”)) acquires (directly or indirectly) the beneficial
ownership (within the meaning of Rule 13d-3 promulgated under the
Exchange Act) of more than 50% of the combined voting power of the then
outstanding voting securities of the Company or AWA entitled to vote
generally in the election of directors; or
	 
	 	2.	 	The Company or AWA shall consummate a merger, consolidation or
reorganization of the Company or AWA or any other similar transaction
or series of related transactions; or
	 
	 	3.	 	The Company or AWA shall sell or otherwise dispose of, or
consummate a transaction or series of related transactions providing
for the sale or other disposition of, all or substantially all of the
stock or assets of AWA, or shall enter into a plan for the complete
liquidation of either the Company or AWA.

Miscellaneous

 

 

[Name of Director]

           , 2003

Page 5

This letter agreement shall be governed by and construed under the laws of the
State of Delaware in all respects as such laws are applied to agreements among
Delaware residents entered into and performed entirely within Delaware.

This letter agreement shall inure to the benefit of, and be binding upon the
Company and its successors and assigns, including without limitation, any
person or entity that may hereafter acquire or succeed to all or substantially
all of the business or assets of the Company or AWA by any means whether direct
or indirect, by purchase, merger, consolidation or otherwise, other than in the
event of a liquidation of the Company or AWA. This letter agreement and the
benefits and obligations hereunder may not be assigned by you.

If you are in agreement with the terms of this letter agreement, please execute
the enclosed copy hereof and return it to the Company, whereupon this letter
agreement will become a binding obligation of the parties hereto.

Sincerely,

AMERICA WEST HOLDINGS CORPORATION

	 	 	 	 	 
	By:	 	

	 	 
	Name:	 	

	 	 
	Title:	 	

	 	 

ACKNOWLEDGED AND AGREED TO:

	 	 	 
	
	 	
 
	[Name of Director]

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