Document:

Exhibit 4.7

 

	
   

  	
  TMN
  Correspondence

  	
   

  	
   

  	
  Portuguese

  
	
  Registered with

  	
   

  	
   

  	
   

  	
  Institute
  of

  
	
  acknowledgement of receipt

  	
  Reg.
  No. :

  	
  0016861

  	
   

  	
  Communications

  
	
   

  	
  Reg.
  Date:

  	
  2001.01.19

  	
   

  	
   

  
	
   

  	
  Dep.:
  CE

  	
   

  	
   

  	
  Board
  of Directors

  

 

	
   

  	
  To:

  
	
   

  	
  The
  President of the Executive Committee,

  
	
   

  	
  TMN —
  Telecomunicações Móveis

  
	
   

  	
  Nacionais,
  S.A.

  
	
   

  	
  Av.
  Álvaro Pais, No.2

  
	
   

  	
  1649 —
  041 LISBON

  

 

 

	
  Reference
  subj.

  	
  Communication
  subj.

  	
  Reference
  No.

  	
  Date

  
	
   

  	
   

  	
  ICP-S01101/2001

  	
  JAN 18,
  2001

  

 

	
  SUBJECT:

  	
  Issue
  of a license for the operation of a System of International Mobile
  Telecommunications (IMT2000/UMTS)

  

 

 

By order of His
Excellency the Minister for Social Infrastructure, issued on December 19, 2000
pursuant to the terms of article 19, item 2 of the Public Tender Regulations
for the awarding of four national licenses for Systems of International Mobile
Communications (IMT2000/UMTS), annexed to Ministerial Directive No. 532-A/2000
of July 31, a license has been awarded to TMN — Telecomunicações Móveis
Nacionais, S.A. [National Mobile Telecommunications, Inc.].

 

Therefore, under the
terms of article 22, item 1 of the aforesaid Public Tender Regulations, in a
meeting of the Board of Directors of the Instituto das Comunicações de Portugal
[Portuguese Institute of Communications —
ICP], it was resolved to issue TMN - Telecomunicações Móveis Nacionais with
license number ICP- 02/UMTS for the operation of a System of International
Mobile Telecommunications (IMT 2000/UMTS), in accordance with the terms of the
document attached hereto.

 

Yours sincerely,

 

[Illegible signature]

A. Marques de Miranda

Board Member

 

Annexure: License No. ICP - 02/UMTS

 

 

Av. Jose Malhoa, 12 
- 1099-017 LISBON - Telephone +351 21 721 10 00 — Telex 663 25 ICP P —
Fax +351 21 721 10 01 PJF-DRC4

 

 

 

LICENSE No. ICP — 02/UMTS

 

By order of His Excellency the Minister for
Social Infrastructure, issued on December 19, 2000 pursuant to the terms of
article 19, item 2 of the Regulations of the Public Tender Regulations [sic]
for the awarding of four national licenses for Systems of International Mobile
Communications (IMT2000/UMTS), approved in an annexure to Ministerial Directive
No. 532-A/2000 of July 31, a license has been awarded to TMN — Telecomunicações
Móveis Nacionais, S.A. [National Mobile
Telecommunications, Inc.].

 

Therefore, pursuant to the terms of articles 3
and 14 of Decree Law No. 381-A/97 of December 30, as amended by Decree Law No.
92/99 of March 23, and in accordance article 22, item 1 of the Public Tender
Regulations annexed to Ministerial Decision No. 532-A/2000 of July 31, in a
meeting held on January 11, 2001 the Board of Directors of the Instituto das
Comunicações de Portugal [Portuguese Institute of
Communications — ICP], acting pursuant to item 1, part j) and item 2
of article 7, Decree Law No. 283/89 of August 23, resolved to issue the respective
license and delegate the Institute’s Chairman with the necessary powers to
grant the licensing permit on behalf of the ICP.

 

Accordingly, the Chairman of the Board of
Directors of the ICP, Mr. Luis Filipe Nunes Coimbra Nazaré, duly issues the corresponding
license under the following terms:

 

1                              TMN -
Telecomunicações Móveis Nacionais, S.A. [National Mobile
Telecommunications, Inc.] hereinafter known in abbreviated form as
TMN, an entity registered with the ICP under the terms of Decree Law No. 381-A/97
of December 30, as amended by Decree Law No. 92/99 of March 23, holder of ICP
registration number 055/99 for engaging in the activity of telecommunications
for public use, is hereby licensed to conduct the operation of Systems of
International Mobile Telecommunications (IMT 2000/UMTS) throughout Portuguese
territory.

 

2                                                      1.         The present license is governed by the
provisions of Decree Law number 381-A/97 of December 30, as amended by Decree
Law number 92/99 of March 23; by the Public Tender Regulations approved by
Ministerial Decision number 532-A/2000 of July 31; by the provisions set forth
in the Contract Specifications approved by order of the Minister for Social
Infrastructure on August 1, 2000; and also various other legislation applying
to the communications sector, particularly the stipulations in the Regulations
for the Operation of Public Telecommunications Networks, approved in an
annexure to Decree Law number 290-80/99 of July 30, and in the Regulations for
the Operation of Telecommunications Services for Public Use, approved in an
annexure to Decree Law number 290-B/99 of July 30.

 

1

 

2.               For all due
effects, and pursuant to the terms of article 23, item 1 of the Public Tender
Regulations as approved by Ministerial Decision number 532-A/2000 of July 31,
all of the obligations arising from the terms of the public tender as well as
the bid submitted by TMN, which was a determining factor in the awarding of the
present license, form an integral part of the present license.

 

3.               The awarding of
the present license does not confer any other rights whatsoever upon TMN beyond
those resulting from the precise terms set forth in the present licensing
document, and no consideration will be given to any events arising from the
awarding of new services or licenses in any way, or a supervening alteration of
circumstances.

 

3                              1.     In order to explore the IMT 2000/UMTS
system, TMN will be assigned a 2x15 MHz paired spectrum comprising the
1920-1980 MHz/2110-2170 MHz bands, and a 5 MHz non-paired spectrum comprising
the 1900-1920 MHz band.

 

2.               The interfaces to
be employed within the scope of the operation of the IMT 2000/UMTS system
correspond to the UTRA (Universal Terrestrial Radio Access) interface of the
UMTS (Universal Mobile Telecommunications System) using the FDD (Frequency Division
Duplex) and TDD (Time Division Duplex) operating modes.

 

3.               The use of the
frequencies referred to in item 1 above must respect the restrictions
established under the coordination process with the Spanish Government.

 

4                              1.     The commercial operation of the UMTS system
must commence in December 2001, except for reasons of duly demonstrable force
majeure that are recognized as such by the ICP.

 

2.               For the purposes
of the present license, the term year 1 corresponds to the first 12-month
period occurring after the issue date of the license.

 

2

 

5.                           1.     The TMN is especially obligated to install
a minimum number of Control Centers (RNCs) and Base Stations (B Nos.),
observing the following progress and accumulated quantities:

 

	
  YEARS

  	
   

  	
  RNCs

  	
   

  	
  B Nos.

  	
   

  
	
  Up
  to end of year 1

  	
   

  	
  4

  	
   

  	
  1166

  	
   

  
	
  Up
  to end of year 2

  	
   

  	
  6

  	
   

  	
  1489

  	
   

  
	
  Up
  to end of year 3

  	
   

  	
  9

  	
   

  	
  1912

  	
   

  
	
  Up
  to end of year 4

  	
   

  	
  9

  	
   

  	
  2400

  	
   

  
	
  Up
  to end of year 5

  	
   

  	
  9

  	
   

  	
  2851

  	
   

  

 

2.               The TMN is
henceforth authorized to install the infrastructure described in the previous
item, in compliance with the applicable radio-electrical licensing regime
pursuant to Decree Law number 151-A/2000 of July 20, and other applicable legislation.

 

3.               The TMN is
obligated to guarantee that the stations making up its network observe the
limits set forth in Recommendation 1999/519/CE issued by the IPC Board on July
12, 1999, concerning the limitation on exposure of the population to electromagnetic
fields, in addition to any other limits resulting from standards or legislation
that may in future be approved.

 

6.                           1.     The TMN is subject to the National
Numbering Plan, as well as to the principles and criteria inherent to its use,
as they have been defined by the ICP.

 

2.               The TMN is
obligated to guarantee operator portability on the mobile telephone network, in
accordance with the stipulations of Order number 12809/2000 of June 6, 2000.

 

7                              In accordance
with its submitted bid, and notwithstanding any other aspect in relation to
coverage contained in the bid, TMN shall, when performing the activity from the
object of the present license, be especially obligated to:

 

3

 

                                    a)     Ensure the following population and area coverages with
reference, respectively, to the 1991 Census performed by the National Institute
of Statistics, and to Portuguese national territory:

 

	
   

  	
   

  	
  POPULATION COVERAGE

  (%)

  	
   

  	
  AREA COVERAGE

  (%)

  	
   

  
	
   

  	
   

  	
  TRANSMISSION RATES

  	
   

  	
  TRANSMISSION RATES

  	
   

  
	
  YEARS

  	
   

  	
  144 kbps

  	
   

  	
  384 kbps

  	
   

  	
  144 kbps

  	
   

  	
  384 kbps

  	
   

  
	
  Until
  end of year 1

  	
   

  	
  50.7

  	
  %

  	
  7.4

  	
  %

  	
  15.6

  	
  %

  	
  0.07

  	
  %

  
	
  Until
  end of year 2

  	
   

  	
  56.0

  	
  %

  	
  7.4

  	
  %

  	
  17.9

  	
  %

  	
  0.07

  	
  %

  
	
  Until
  end of year 3

  	
   

  	
  65.7

  	
  %

  	
  7.5

  	
  %

  	
  23.5

  	
  %

  	
  0.07

  	
  %

  
	
  Until
  end of year 4

  	
   

  	
  72.7

  	
  %

  	
  7.5

  	
  %

  	
  27.9

  	
  %

  	
  0.07

  	
  %

  
	
  Until
  end of year 5

  	
   

  	
  77.3

  	
  %

  	
  7.7

  	
  %

  	
  38.3

  	
  %

  	
  0.07

  	
  %

  

 

                                    b)    Ensure population and area coverages at the NUTS II level, with
reference to the 1991 Census performed by the National Institute of Statistics,
and to Portuguese national territory, respectively, at rates of 144 kbps as follows:

 

	
   

  	
   

  	
  END YEAR 1

  	
   

  	
  END YEAR 2

  	
   

  	
  END YEAR 3

  	
   

  	
  END YEAR 4

  	
   

  	
  END YEAR 5

  	
   

  
	
   

  	
   

  	
  COVERAGE

  (%)

  	
   

  	
  COVERAGE

  (%)

  	
   

  	
  COVERAGE

  (%)

  	
   

  	
  COVERAGE

  (%)

  	
   

  	
  COVERAGE

  (%)

  	
   

  
	
  NUTS II

  	
   

  	
  POP

  	
   

  	
  AREA

  	
   

  	
  POP

  	
   

  	
  AREA

  	
   

  	
  POP

  	
   

  	
  AREA

  	
   

  	
  POP

  	
   

  	
  AREA

  	
   

  	
  POP

  	
   

  	
  AREA

  	
   

  
	
  NORTH

  	
   

  	
  46.9

  	
  %

  	
  16.0

  	
  %

  	
  55.9

  	
  %

  	
  19.7

  	
  %

  	
  68.6

  	
  %

  	
  25.0

  	
  %

  	
  79.4

  	
  %

  	
  33.3

  	
  %

  	
  81.8

  	
  %

  	
  41.0

  	
  %

  
	
  CENTER

  	
   

  	
  34.9

  	
  %

  	
  19.7

  	
  %

  	
  34.9

  	
  %

  	
  19.7

  	
  %

  	
  41.3

  	
  %

  	
  23.5

  	
  %

  	
  49.3

  	
  %

  	
  26.2

  	
  %

  	
  53.3

  	
  %

  	
  34.3

  	
  %

  
	
  LISBON
  & TAGUS VAL.

  	
   

  	
  71.6

  	
  %

  	
  16.8

  	
  %

  	
  75.2

  	
  %

  	
  23.2

  	
  %

  	
  85.4

  	
  %

  	
  40.6

  	
  %

  	
  88.2

  	
  %

  	
  55.9

  	
  %

  	
  90.6

  	
  %

  	
  63.0

  	
  %

  
	
  ALENTEJO

  	
   

  	
  21.3

  	
  %

  	
  10.7

  	
  %

  	
  21.3

  	
  %

  	
  10.7

  	
  %

  	
  21.3

  	
  %

  	
  10.7

  	
  %

  	
  21.3

  	
  %

  	
  10.7

  	
  %

  	
  39.5

  	
  %

  	
  28.4

  	
  %

  
	
  ALGARVE

  	
   

  	
  34.6

  	
  %

  	
  22.2

  	
  %

  	
  63.0

  	
  %

  	
  32.9

  	
  %

  	
  81.4

  	
  %

  	
  49.3

  	
  %

  	
  81.4

  	
  %

  	
  49.3

  	
  %

  	
  83.8

  	
  %

  	
  52.4

  	
  %

  
	
  AZORES
  AUTON, REG.

  	
   

  	
  26.1

  	
  %

  	
  10.4

  	
  %

  	
  26.1

  	
  %

  	
  10.4

  	
  %

  	
  26.1

  	
  %

  	
  10.4

  	
  %

  	
  26.1

  	
  %

  	
  10.4

  	
  %

  	
  40.8

  	
  %

  	
  21.1

  	
  %

  
	
  MADEIRA
  AUTON. REG.

  	
   

  	
  45.4

  	
  %

  	
  9.8

  	
  %

  	
  45.4

  	
  %

  	
  9.0

  	
  %

  	
  45.4

  	
  %

  	
  9.8

  	
  %

  	
  45.4

  	
  %

  	
  9.8

  	
  %

  	
  45.4

  	
  %

  	
  9.8

  	
  %

  

 

 

8                              In accordance
with the progress plan described in clause 5, the TMN is obligated to guarantee
the following network performance parameters, contained in the technical plan
of its submitted bid:

 

                                    a)     Level of network availability, deemed to be the percentage of
time during which the network or its components are operational throughout the
year: 99.0%

 

4

 

b)             The parameters of
Delay Time, Error Rate and Transmission Rate must lie within the limits set in
the latest specifications of the “Third Generation Partnership Project” (3GPP),
namely 3G TS 23.107 and 3G TS 22.105, or other limits resulting from standards
or legislation that may in future be approved.

 

9.                           In performing the
activity, the TMN is obligated to make available the services as described in
the submitted bid.

 

10.                     The TMN undertakes to
implement a pricing and package policy in accordance with the underlying
principles of its submitted bid.

 

11.                     1.     The TMN undertakes to make available a set of special offers to
low income clients, clients with special needs, clients in rural and outlying
areas, and institutions with demonstrated social value, namely schools,
libraries and hospitals, in accordance with the terms and monetary amounts set
forth in the submitted bid.

 

                                    2.     The offer referred to in the preceding item may be made
available by the TMN or by third-party entities constituted to that effect, in
which case the TMN shall continue to remain directly and personally bound by
the obligations arising from the submitted bid.

 

12.                     1.     The TMN, within the scope of its offer for domestic roaming
between the UMTS system and the second-generation systems (GSM and DCS), is
obligated to:

 

                                    a)     Maintain the domestic roaming offer as effectively contracted
for a period of five years commencing from the date of issue of the present
license, except if the entity to which the offer is made should itself be
declared as an operator with significant market power;

                                    

                                    b)    Make available all the services and facilities that it offers to
its own users as a GSM/PCS operator, ensuring the same conditions of service
quality;

 

                                    c)     Implement a pricing policy for domestic roaming in accordance
with the underlying principles of the offer conditions as stated on the
submitted bid.

 

5

 

2.                           The conditions of
the roaming offer referred to in the preceding item will be re-evaluated by the
ICP after two years have elapsed from the date of issue of the present license.

 

3.                           Notwithstanding
the provisions of the foregoing items, the domestic roaming offer by the TMN is
subject to the provisions of Title III of the Regulations for the Operation of
public telecommunications Networks, approved in annexure to Decree Law number
290-A/99 of July 30.

 

4.                           The terms of any
domestic roaming agreements formalized by the TMN must be notified to the ICP
within a period of 15 days from the date of their respective formalization.

 

13.                     1.     In performing the licensed activity, the TMN shall be subject to
the following obligations, in addition to any other obligations arising from
the applicable legislation:

 

                                    a)     To guarantee the secure operation of the network and maintenance
of network integrity, to which effect TMN will take all the appropriate
measures and will provide specialized technical personnel in order to ensure
and maintain minimum network functionalities when events occur that may affect
same;

 

                                                            b)    To ensure the protection of data and the
secrecy of communications;

 

                                                            c)     To use the frequencies it is assigned in an
effective and efficient manner, in accordance with the technical parameters
defined by the ICP in the network licensed to be issued pursuant to the terms
of Decree Law number 151-A/2000 of July 20

 

                                                            d)    To install, at its own expense, an adequate
system for the legal interception of communications, and make said system
available to the legally competent authorities in this regard, in accordance
with the current 3GPP technical specifications, namely 3G TS 33.106 and 3G TS
33.107, or any others arising from standards or legislation that may in future
be approved;

 

                                                            e)     To interconnect with other networks, in
order to allow the interoperability of public-use telecommunication services,
in accordance with the submitted bid and the terms of Decree Law number 415/98
of December 31;

 

 

6

 

                                                            f)     To comply with the prevailing national laws
insofar as they are applicable, in addition to any orders or injunctions with
which it may be issued by the competent authorities acting pursuant to the law;

 

                                                            g)    To observe the zoning plans of the territory
and respect the determining factors inherent to protection of the environment,
property and access to the public and private domain, and also apply for the
legally prescribed licensing documents, particularly those under the competency
of local administrative bodies.

 

                                    2.     The TMN is also subject to compliance with any other obligations
applying to it under the publication sequence of any future approved standards that
establish new conditions and requirements not envisaged at the issue date of
the present license, in accordance with the principle of furtherance of the
public interest and the principle of proportionality.

 

14.                     The TMN is under the following
obligations with respect to the ICP:

 

                                    a)     To give notice of any alterations that may be made to its
corporate articles or bylaws within a period of 30 days from the date of their
occurrence;

 

                                    b)    To communicate the effective commencement of the licensed
activity;

 

                                    c)     To forward, by the 20th day of the month following the end of
each quarter, updated information concerning the services and facilities
implemented, and also the prices charged;

 

c)              To supply the
following information by the 20th day of the month after the end of each year,
set out in respect of the different transmission rates:

 

                                            -       Total covered
population, being understood as the population covered expressed in thousands
of inhabitants with respect to the national total, with reference to the 1991
Census by the National Institute of Statistics or some other more recent census
that may be published by the aforesaid Institute;

 

                                            -       Total covered
area, being understood as the area covered in km2 with respect to the total
national territory;

 

7

 

-                    Population and
area covered for each NUTS II, being understood as the population (in thousands
of inhabitants) and the area (in km2) covered in relation to the total
population and the area of each NUTS II, respectively, with reference to the
1991 Census by the National Institute of Statistics or some other more recent
census that may be published by the aforesaid Institute;

 

-                    Roadways covered,
with an indication for each roadway of the respective number of kilometers
covered;

 

                                            -                    Elements that allow efficient
assessment of the performance parameters referred to in clause 8, with a
description of the methods and technological means employed to make the
respective determination.

 

                                            -                    Mode of
implementing the site sharing policy undertaken in the submitted bid, including
the number of sites effectively shared, and identification of the locations and
entities involved.

 

                                    e)     To make available, within the period and in the manner already
established to this effect, all other information that may be necessary to
accompany the licensed activity and also for statistical purposes;

 

                                    f)     To comply with any orders with which it may be issued by the ICP
pursuant to the law and the terms of the present license, within such period as
set for said compliance, unless otherwise specified by some special law.

 

15                        For the purposes
o the present license, the TMN may only alter the makeup and ownership of its
respective capital stock via authorization by the member of the government
responsible for the communications area, and subject to the opinion of the ICP.

 

16.                     1.               The surety advanced by the TMN in the sum of PTE
500,000,000.00 (five hundred million Portuguese Escudos), shall remain in force
for a period of five years commencing from the date it is advanced.

 

                                    2.               The surety referred to in the preceding item
will be progressively released up to a limit of on third of its value, in step
with verification of compliance with the minimum coverage obligations set forth
in the Contract Specifications, approved by order of the Minister for Social
Infrastructure on August 1, 2000.

 

 

8

 

17.                     1.               The TMN is obligated to pay the ICP an annual
fee, in an amount and in accordance with the conditions set by official order
pursuant to and under the terms of article 29, item 3 of Decree Law No.
381-A/97 of December 30, amended by Decree Law No. 92/99 of March 23.

 

                                    2.               In addition to the fee referred to in the
preceding item, the TMN shall pay the ICP all other applicable and legally
established fees, namely those relating to the use of the radio-electrical
spectrum.

 

18.                     The transmission of the
present license is subject to the regime set forth in article 19 of Decree Law
No. 381-A/97 of December 30, amended by Decree Law No. 92/99 of March 23.

 

19.                     Notwithstanding the remaining
provisions of article 32 of Decree Law No. 381-A/97 of December 30, amended by
Decree Law No. 92/99 of March 23, the failure by TMN to comply with the terms
of the present license will constitute grounds for license suspension or
revocation.

 

20.                     The present license is valid
for the period of 15 years commencing from its date of issue, and will expire
on January 11, 2016.

 

 

At Lisbon, January 11, 2001.

 

 

ICP Board Chairman

 

 

[signature]

(Luis Filipe Nunes Coimbra
Nazaré)

 

9

 

Registered with advice of receipt

NATIONAL COMMUNICATIONS AUTHORITY

(Handwritten:) [Illegible] 

 

	
  TMN Correspondence

  	
   

  
	
  Registration Number:

  	
  377481

  
	
  Date of Registration:

  	
  2004.02.19

  
	
  Dep:

  	
  PCE

  

 

	
  (Stamp:)(text illegible:)

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  (Handwritten:)

  	
  898

  	
  To

  
	
   

  	
  19-02-04

  	
  The Chairman of the Executive Committee of

  
	
   

  	
   

  	
  TMN — Telecomunicações Móveis Nacionais, S.A.

  
	
   

  	
   

  	
  Av. Álvaro Pais, 2

  
	
   

  	
   

  	
  1649-041 Lisbon

  

 

	
  Your Ref

  	
  Your communication

  	
  Our Ref

  	
  Date

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  ANACOM S03408/2004

  	
  18-02-2004

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  Circular Notice

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Subject:

  	
  Commercial Operation of UMTS Systems

  	
   

  	
   

  	
   

  	
   

  

 

 

The Chairman of the Board of Directors has instructed me to
notify you of the decision on Commercial Operation of UMTS Systems, taken by
the Board of Directors of ICP-ANACOM, in a meeting on February 10, 2004,
following the probable decision to be taken on the requirements presented by
the operators licensed for commercial operation of UMTS systems, involving the alteration
of obligations contained in the licenses, namely the obligations in relation to
the start of commercial operation, which is transcribed here:

 

“1.          To approve the Report of the hearing of interested parties
in accordance with Appendix 1;

 

2.             Accordingly,

                Considering
that:

•                     the minimum conditions for the introduction of
commercial operation of the UMTS system on January 1, 2004 are in place;

•                     in accordance with the limited availability of
terminal equipment and network infrastructure in the market, it is essential to
allow a pre-commercial phase with duration of six months in the commercial
operation of the UMTS system;

•                     such phase may consist of making the service
available to only a limited and closed number of users (“friendly users”),
namely, companies;

•                     this being so, commercial offer of the UMTS system
should begin on July 1, 2004;

•                     adequate coverage of the population should be
provided, and the proposals of the operators holding the respective licenses
should be taken into account;

•                     from the Competition Requirements, for the purposes
of coverage obligations, the end of year one means 12 months from the start of
commercial operation of the UMTS system;

 

	
  (Stamp:)

  	
  ADGA

  	
  ICP - National Communications Authority   

  
	
  Entry No.

  	
  9[?] 

  	
  Av. José Malhoa, 12

  
	
  Date

  	
  19/02/04

  	
  1099-017 Lisbon

  
	
   

  	
   

  	
  Tel +351 217211000 • Fax +351 217211001

  

 

 

 

 

•                     ICP-ANACOM has decided to allow sharing of
infrastructures of the UMTS network;

 

 

The following measures are
adopted:

 

1.                                      To bind the operators to ensure, through their own
means, coverages of the national population at rates of 144 kbps, corresponding
to 60% of the values fixed in the respective licenses, in any event, always
without prejudice to compliance with the minimum requirements based on the
Competition Requirements, namely:

•             End of first year — 20% of the population;

•             End of second year — 20% of the population;

•             End of third year — 40% of the population

•             End of fourth year — 40% of the population;

•             End of fifth year — 60% of the population.

 

2.                                      To allow that the differential between the general
coverage of the population and area to which the operator is bound by the
license which it holds and the minimum coverage through its own means demanded
above may be provided by national roaming, in accordance with the terms of an
annual plan to be presented by the operators and to be approved by ICP-ANACOM;

 

3.                                      To eliminate the specification of the coverage
obligations at the level of the NUTS II regions, but maintaining the coverage
obligations at national level at 144 kbps and 384 kbps contained in the
respective licenses;

 

4.                                      To reformulate the spectrum configurations effected
having in mind the additional attribution of 2x5 MHz to the licensed operators
according to the following:

 

(Translator’s note: Only “Vodafone” is fully visible, at
left . The centre one appears to be “Optimus”.)

 

2

 

5.                                      To order the operators to present:

a)                                    By March 1 and for the phase of pre-commercial
launch, a two-monthly plan containing the universe, type and number of users to
which the UMTS system will be made available, the services provided and the
area of coverage reached;

b)                                    By June 1, 2004, technical projects that provide
grants for any alteration of implementation of the networks, namely in relation
to the number of network infrastructures (RNCs and B Nodes) being installed;

 

6.                                      To allow, in relation to the obligations for making
services available, a policy of prices and packages, the possibility of the
operators applying, with grounds, for any revision of the planned calendar for
making the services available;

 

7.                                      To admit the possibility of revision of the periods
of validity of the licensing titles issued in accordance with the applicable
rules of the new regulatory structure;

 

8.                                      When the limit of stockholding participation
expressed in Clause 20 of the license issued to Optimus has been complied with,
the corresponding condition should be suppressed”.

 

 

This opportunity is taken to send the Report of the Hearing
to the interested parties, prepared in accordance with Article 105 of the Code
of Administrative Procedure.

 

With best regards,

 

 

 

	
   

  	
  

  	
   

  
	
  (Stamp:)

  	
  Luís Filipe De Menezes

  	
   

  
	
   

  	
  Director of Management and Support to the Council

  	
   

  

 

3Exhibit 10.1

 

 

SEPARATION
AGREEMENT

 

by and between

 

TRAVELPORT
LIMITED

 

and

 

ORBITZ
WORLDWIDE, INC.

 

 

Dated as of      ,
2007.

 

 

TABLE OF
CONTENTS

 

	
  ARTICLE I DEFINITIONS

  	
   

  
	
   

  	
   

  
	
  Section 1.1 Certain Definitions

  	
   

  
	
   

  	
   

  
	
  ARTICLE II THE TRANSACTIONS

  	
   

  
	
   

  	
   

  
	
  Section 2.1 General

  	
   

  
	
   

  	
   

  
	
  Section 2.2 Transfer of Assets

  	
   

  
	
   

  	
   

  
	
  Section 2.3 Assumption and Satisfaction of Liabilities

  	
   

  
	
   

  	
   

  
	
  Section 2.4 Intercompany Accounts

  	
   

  
	
   

  	
   

  
	
  Section 2.5 Limitation of Liability

  	
   

  
	
   

  	
   

  
	
  Section 2.6 Transfers Not Effected On or Prior to the Date Hereof;
  Transfers Deemed Effective as of the Date Hereof

  	
   

  
	
   

  	
   

  
	
  Section 2.7 Conveyancing and Assumption Instruments

  	
   

  
	
   

  	
   

  
	
  Section 2.8 Further Assurances

  	
   

  
	
   

  	
   

  
	
  Section 2.9 Novation of Liabilities

  	
   

  
	
   

  	
   

  
	
  Section 2.10 Guarantees

  	
   

  
	
   

  	
   

  
	
  Section 2.11 Disclaimer of Representations and Warranties

  	
   

  
	
   

  	
   

  
	
  Section 2.12 Allocation of Costs and Expenses

  	
   

  
	
   

  	
   

  
	
  ARTICLE III EQUITY PURCHASE RIGHTS

  	
   

  
	
   

  	
   

  
	
  Section 3.1 Equity Purchase Rights

  	
   

  
	
   

  	
   

  
	
  ARTICLE IV FINANCIAL AND OTHER INFORMATION

  	
   

  
	
   

  	
   

  
	
  Section 4.1 Ten Percent Threshold

  	
   

  
	
   

  	
   

  
	
  Section 4.2 Twenty Percent Threshold

  	
   

  
	
   

  	
   

  
	
  Section 4.3 Fifty Percent Threshold

  	
   

  
	
   

  	
   

  
	
  Section 4.4 Attorney Client Privilege

  	
   

  
	
   

  	
   

  
	
  ARTICLE V REGISTRATION RIGHTS

  	
   

  
	
   

  	
   

  
	
  Section 5.1 Piggyback Registrations

  	
   

  
	
   

  	
   

  
	
  Section 5.2 Requested Registrations

  	
   

  
	
   

  	
   

  
	
  Section 5.3 Registration Procedures

  	
   

  
	
   

  	
   

  
	
  Section 5.4 Restriction on Disposition of Registrable Securities

  	
   

  
	
   

  	
   

  
	
  Section 5.5 Selection of Underwriters

  	
   

  
	
   

  	
   

  
	
  Section 5.6 Registration Expenses

  	
   

  

 

i

 

	
  Section 5.7 Conversion of Other Securities

  	
   

  
	
   

  	
   

  
	
  Section 5.8 Rule 144

  	
   

  
	
   

  	
   

  
	
  Section 5.9 Transfer of Registration Rights

  	
   

  
	
   

  	
   

  
	
  ARTICLE VI BUSINESS AND REGISTRATION STATEMENT INDEMNIFICATION

  	
   

  
	
   

  	
   

  
	
  Section 6.1 General Cross Indemnification

  	
   

  
	
   

  	
   

  
	
  Section 6.2 Registration Statement Indemnification

  	
   

  
	
   

  	
   

  
	
  Section 6.3 Contribution

  	
   

  
	
   

  	
   

  
	
  Section 6.4 Procedure

  	
   

  
	
   

  	
   

  
	
  Section 6.5 Other Matters

  	
   

  
	
   

  	
   

  
	
  ARTICLE VII OTHER PROVISIONS

  	
   

  
	
   

  	
   

  
	
  Section 7.1 Insurance

  	
   

  
	
   

  	
   

  
	
  Section 7.2 Non-Solicitation; Non-Hire

  	
   

  
	
   

  	
   

  
	
  Section 7.3 Form S-8

  	
   

  
	
   

  	
   

  
	
  Section 7.4 Regulatory Approvals

  	
   

  
	
   

  	
   

  
	
  Section 7.5 Charter Provision

  	
   

  
	
   

  	
   

  
	
  Section 7.6 Access to Historical Records

  	
   

  
	
   

  	
   

  
	
  Section 7.7 Records Stemming from Affiliate Relationship

  	
   

  
	
   

  	
   

  
	
  Section 7.8 Litigation and Settlement Cooperation

  	
   

  
	
   

  	
   

  
	
  Section 7.9 Cendant Transition Services Agreement

  	
   

  
	
   

  	
   

  
	
  Section 7.10 Cendant Separation Agreement

  	
   

  
	
   

  	
   

  
	
  Section 7.11 Corporate Names and Other Parties’ Trademarks

  	
   

  
	
   

  	
   

  
	
  Section 7.12 Information

  	
   

  
	
   

  	
   

  
	
  Section 7.13 Credit Agreement; Indentures

  	
   

  
	
   

  	
   

  
	
  ARTICLE VIII EMPLOYEE BENEFITS

  	
   

  
	
   

  	
   

  
	
  Section 8.1 Employee Benefits

  	
   

  
	
   

  	
   

  
	
  ARTICLE IX DISPUTE RESOLUTION

  	
   

  
	
   

  	
   

  
	
  Section 9.1 Negotiation

  	
   

  
	
   

  	
   

  
	
  Section 9.2 Arbitration

  	
   

  
	
   

  	
   

  
	
  Section 9.3 Confidentiality Arbitration Proceedings

  	
   

  
	
   

  	
   

  
	
  ARTICLE X MISCELLANEOUS

  	
   

  
	
   

  	
   

  
	
  Section 10.1 Notices

  	
   

  
	
   

  	
   

  
	
  Section 10.2 Binding Nature of Agreement

  	
   

  
	
   

  	
   

  
	
  Section 10.3 Descriptive Headings

  	
   

  

 

ii

 

	
  Section 10.4 Remedies

  	
   

  
	
   

  	
   

  
	
  Section 10.5 Governing Law

  	
   

  
	
   

  	
   

  
	
  Section 10.6 Counterparts

  	
   

  
	
   

  	
   

  
	
  Section 10.7 Severability

  	
   

  
	
   

  	
   

  
	
  Section 10.8 Confidential Information

  	
   

  
	
   

  	
   

  
	
  Section 10.9 Amendment and Modification

  	
   

  
	
   

  	
   

  
	
  Section 10.10 Entire Agreement

  	
   

  
	
   

  	
   

  
	
  Section 10.11 Assignment

  	
   

  
	
   

  	
   

  
	
  Section 10.12 Recapitalization, Dilution Adjustments, etc

  	
   

  
	
   

  	
   

  
	
  Section 10.13 Other Agreements

  	
   

  
	
   

  	
   

  
	
  Section 10.14 Further Actions

  	
   

  
	
   

  	
   

  
	
  Section 10.15 Disclosure Schedules

  	
   

  
	
   

  	
   

  
	
  Section 10.16 No Third Party Beneficiaries

  	
   

  
	
   

  	
   

  
	
  Section 10.17 Drafting of Language

  	
   

  
	
   

  	
   

  
	
  Section 10.18 No Circumvention

  	
   

  
	
   

  	
   

  

 

iii

 

LIST OF
SCHEDULES

 

	
  Schedule 1.1(a)

  	
   

  	
  B2C Assets

  
	
  Schedule 1.1(b)

  	
   

  	
  B2C
  Liabilities

  
	
  Schedule 2.5

  	
   

  	
  Continuing
  Agreements

  
	
  Schedule 10.13

  	
   

  	
  Ancillary
  Agreements

  

 

 

SEPARATION
AGREEMENT

 

SEPARATION
AGREEMENT, dated as of         , 2007,
by and between ORBITZ WORLDWIDE, INC., a Delaware corporation (“OWW”),
and TRAVELPORT LIMITED, a Bermuda company f/k/a TDS Investor (Bermuda) Ltd. (“Travelport”).

 

WHEREAS, Travelport
is the indirect owner of all of the issued and outstanding Common Stock of OWW
immediately prior to the date hereof;

 

WHEREAS, the
Board of Directors of Travelport has determined that it is appropriate,
desirable and in the best interests of Travelport and its stockholders to offer
for sale a certain percentage of the Common Stock of OWW in a registered public
offering;

 

WHEREAS, the
Parties engaged in a reorganization of their respective U.S. businesses in February,
2007, to transfer the B2C Businesses from members of the Travelport Affiliated
Group to members of the OWW Affiliated Group and their B2B Businesses from members
of the OWW Affiliated Group to members of the Travelport Affiliated Group, and
by this Agreement the Parties are engaging in additional reorganization
transactions for the purpose of effecting the IPO;

 

NOW,
THEREFORE, in contemplation of OWW ceasing to be wholly-owned by Travelport and
for good and valuable consideration, the receipt and adequacy of which are acknowledged,
the Parties hereto, intending to be legally bound, hereby agree as follows:

 

ARTICLE I

 

DEFINITIONS

 

Section 1.1  Certain
Definitions. In addition to the terms defined elsewhere in this Agreement,
the following terms shall have the following meanings:

 

“AAA”
shall have the meaning set forth in Section 9.2.

 

“Actions”
shall have the meaning ascribed to such term in Section 6.1(a).

 

“Affiliate”
means (i) with respect to the Travelport Affiliated Group, any other
member of the Travelport Affiliated Group, and (ii) with respect to the
OWW Affiliated Group, any other member of the OWW Affiliated Group.

 

“Affiliated
Group” shall mean either the Travelport Affiliated Group or the OWW
Affiliated Group, as applicable.

 

“Agreement”
and “hereof” and “herein” means this Separation Agreement,
including all amendments, modifications and supplements and any exhibits or
schedules to any of the foregoing, and shall refer to the Agreement as the same
may be in effect at the time such reference becomes operative.

 

 

“Agreement
Disputes” shall have the meaning ascribed to such term in Section 9.1.

 

“Ancillary
Agreements” means those agreements identified on Schedule 10.13
hereto.

 

“Annual
Financial Statements” shall have the meaning set forth in Section 4.2(f).

 

“Assets”
shall mean assets, properties, claims and rights (including goodwill), wherever
located (including in the possession of vendors or other third parties or
elsewhere), of every kind, character and description, whether real, personal or
mixed, tangible, intangible or contingent, in each case whether or not recorded
or reflected or required to be recorded or reflected on the Records or
financial statements of any Person, including the following:

 

(i)                                     all accounting and other legal and
business books, records, ledgers and files whether printed, electronic or
written;

 

(ii)                                  all apparatuses, computers and other
electronic data processing and communications equipment, fixtures, machinery,
equipment, furniture, office equipment, automobiles, trucks, aircraft and other
transportation equipment, special and general tools, test devices, prototypes
and models and other tangible personal property;

 

(iii)                               all inventories of products, goods,
materials, parts, raw materials and supplies;

 

(iv)                              all interests in real property of
whatever nature, including easements, whether as owner, mortgagee or holder of
a Security Interest in real property, lessor, sublessor, lessee, sublessee or
otherwise;

 

(v)                                 all interests in any capital stock
or other equity interests of any Subsidiary or any other Person, all bonds,
notes, debentures or other securities issued by any Subsidiary or any other
Person, all loans, advances or other extensions of credit or capital contributions
to any Subsidiary or any other Person and all other investments in securities
of any Person;

 

(vi)                              all license contracts, leases of
personal property, open purchase orders for raw materials, supplies, parts or
services, unfilled orders for the manufacture and sale of products and other contracts
or commitments;

 

(vii)                           all deposits, letters of credit and
performance and surety bonds;

 

(viii)                        all written (including in electronic
form) technical information, data, specifications, research and development
information, engineering drawings and specifications, operating and maintenance
manuals, and materials and analyses prepared by consultants and other third
parties;

 

(ix)                                all Intellectual Property;

 

 

(x)                                   all Software;

 

(xi)                                all cost information, sales and
pricing data, customer prospect lists, supplier records, customer and supplier
lists, customer and vendor data, correspondence and lists, product data and
literature, artwork, design, development and business process files and data,
vendor and customer drawings, specifications, quality records and reports and
other books, records, studies, surveys, reports, plans and documents;

 

(xii)                             all prepaid expenses, trade accounts
and other accounts and notes receivables;

 

(xiii)                          all rights under contracts, all
claims or rights against any Person, choses in action or similar rights,
whether accrued or contingent;

 

(xiv)                         all rights under insurance policies
and all rights in the nature of insurance, indemnification or contribution;

 

(xv)                            all licenses, permits, approvals and
authorizations which have been issued by any governmental entity;

 

(xvi)                         all cash or cash equivalents, bank
accounts, lock boxes and other deposit arrangements; and

 

(xvii)                      all interest rate, currency,
commodity or other swap, collar, cap or other hedging or similar Contracts or
arrangements.

 

“Assume”
and “Assumption” shall have the meanings set forth in Section 2.3.

 

“Average
Market Price” shall have the meaning set forth in Section 3.1.

 

“Avis
Budget” means Avis Budget Group, Inc., a Delaware corporation formerly
known as Cendant Corporation.

 

“B2B Assets”
means all of the Assets of the B2B Businesses, excluding the B2C Assets.

 

“B2B
Businesses” means those businesses of the Parties whose services primarily
focus on the business-to-business marketplace, including electronic travel
distribution services that connect travel suppliers to travel agencies, the
provision of wholesale accommodation and destination services, transaction
processing solutions for travel suppliers and other travel industry customers,
supplier services businesses that provide technology services and solutions for
the airline and hotel industries, and corporate solutions operations that
provide corporate travel fulfillment solutions. For the avoidance of doubt, B2B
Businesses include but are not limited to Galileo, the global distribution
system (including Apollo GDS, Galileo, Shepherd Systems, Southern Cross and
IGTS), and Gullivers Travel Associates, the wholesale travel business
(including Octopus Travel and Needahotel).

 

 

“B2B
Liabilities” means all of the Liabilities of the B2B Businesses, excluding
the B2C Liabilities.

 

“B2C Assets”
means all of the Assets of the B2C Businesses including but not limited to
those set forth in Schedule 1.1(a).

 

“B2C
Businesses” means those businesses of the Parties whose services primarily
focus on the business-to-consumer marketplace, including offering travel
products and services directly to consumers, largely through online travel
agencies. For the avoidance of doubt, B2C Businesses include but are not
limited to the Parties’ online travel agencies in the United States, Europe and
Asia Pacific, including Orbitz and CheapTickets in the United States and
ebookers in Europe.

 

“B2C
Liabilities” means all of the Liabilities of the B2C Businesses including
but not limited to those set forth in Schedule 1.1(b).

 

“BNS”
means The Bank of Nova Scotia Trust Company of New York, in its capacity as
trustee under the Indentures.

 

“Business
Day” means each Monday, Tuesday, Wednesday, Thursday and Friday which is
not a day on which banking institutions in New York City are authorized or
obligated by law or executive order to close.

 

“Cendant
Separation Agreement” means that certain Separation and Distribution
Agreement, dated as of July 27, 2006, by and among Avis Budget, Realogy,
Wyndham and Travelport.

 

“Cendant
Transition Services Agreement” means that certain Transition Services
Agreement, dated as of July 27, 2006, by and among Avis Budget, Realogy,
Wyndham and Travelport.

 

“Charter”
means the certificate of incorporation of OWW, as in effect immediately
following the closing of the IPO.

 

“Claims
Made Policies” means those liability insurance policies requiring that a
claim be made against the insured and reported to the insurer during the policy
period in order for coverage to apply.

 

“Common
Stock” means the common stock, par value $0.01 per share, of OWW.

 

“Confidential
Business Information” shall mean all Information, data or material other
than Confidential Operational Information, including (i) earnings reports
and forecasts, (ii) macro-economic reports and forecasts, (iii) business
plans, (iv) general market evaluations and surveys and (v) financing
and credit-related information.

 

“Confidential
Information” shall mean Confidential Business Information and Confidential
Operational Information concerning a Party and/or its Subsidiaries which, prior
to or following the date hereof, has been disclosed by a Party or its
Subsidiaries to the Party or its 

 

 

Subsidiaries,
in written, oral (including by recording), electronic, or visual form to, or
otherwise has come into the possession of, the other Party, including pursuant
to the access provisions of Section 7.6 or any other provision of
this Agreement (except to the extent that such information has been (i) in
the public domain or released to a third party without an obligation of
confidentiality through no fault of such Party or its Subsidiaries or (ii) independently
developed, or lawfully acquired from other sources by such Party or its
Subsidiaries to which it was furnished; provided, however, in the case
of clause (ii) that, to the furnished Party’s knowledge, such sources did
not provide such information in breach of any confidentiality obligations).

 

“Confidential
Operational Information” shall mean all operational Information, data or
material including (i) specifications, ideas and concepts for products and
services, (ii) quality assurance policies, procedures and specifications, (iii) customer
information, (iv) Software, (v) training materials and information
and (vi) all other know-how, methodology, procedures, techniques and trade
secrets related to design, development and operational processes.

 

“Continuing
Agreements” means those agreements identified on Schedule 2.5
hereto.

 

“Credit Agreement”
means the First Amended and Restated Credit Agreement dated as of August 23,
2006 as amended and restated on January 29, 2007, among Travelport Inc.
(f/k/a TDS Investor Corporation), Travelport, Waltonville Limited, UBS AG,
Stamford Branch, UBS Loan Finance LLC and Other Lenders Party Thereto.

 

“Demand
Registration” shall have the meaning set forth in Section 5.2(a).

 

“Denver
Data Center” means the data center operated by Travelport in Denver,
Colorado.

 

“Dispute
Notice” shall have the meaning ascribed to such term in Section 9.1.

 

“Equity
Purchase Rights” shall have the meaning set forth in Section 3.1.

 

“Equity
Securities” means shares of Voting Stock or any securities convertible into
or exchangeable for shares of Voting Stock or any options, warrants or rights
to acquire shares of Voting Stock.

 

“Equity
Securities Amount” shall have the meaning set forth in Section 3.1.

 

“Exchange
Act” means the Securities Exchange Act of 1934.

 

“Fair
Market Value” means, with respect to any Asset or security, the fair market
value thereof as determined jointly by Travelport and OWW, or in the event that
they are unable to agree, as determined by a mutually acceptable nationally
recognized investment banking or other valuation expert.

 

“GAAP”
means United States generally accepted accounting principles.

 

 

“Guaranty
Release” shall have the meaning ascribed to such term in Section 2.10(b).

 

“Indemnitees”
shall have the meaning set forth in Section 6.4.

 

“Indentures”
means the Senior Indenture and the Senior Subordinated Indenture, collectively.

 

“Information”
shall have the meaning set forth in Section 7.12(a).

 

“Inspectors”
shall have the meaning set forth in Section 5.3(g).

 

“Intellectual
Property” shall mean all intellectual property and industrial property
rights of any kind or nature, including all U.S. and foreign (i) patents,
patent applications, patent disclosures, and all related continuations,
continuations-in-part, divisionals, reissues, re-examinations, substitutions
and extensions thereof, (ii) Trademarks, (iii) copyrights and
copyrightable subject matter, (iv) rights of publicity, (v) moral
rights and rights of attribution and integrity, (vi) rights in Software, (vii) trade
secrets and all other confidential information, know-how, inventions,
proprietary processes, formulae, models and methodologies, (viii) rights
of privacy and rights to personal information, (ix) telephone numbers and
Internet protocol addresses, (x) all rights in the foregoing and in other
similar intangible Assets, (ix) all applications and registrations for the
foregoing and (xii) all rights and remedies against past, present, and future
infringement, misappropriation, or other violation of the foregoing.

 

“IPO”
means the initial public offering of the Common Stock as contemplated by the
IPO S-1.

 

“IPO S-1”
means OWW’s registration statement on Form S-1 (No. 333-142797)
relating to the IPO, as the same may be amended or supplemented from time to
time.

 

“Keepwell”
means any guarantee, letter of credit, surety bond, other performance guarantee,
keepwell, or net worth or financial condition maintenance agreement of or by any
member of the Travelport Affiliated Group provided to any Person with respect
to any actual or contingent obligation of any member of the OWW Affiliated
Group.

 

“Liabilities”
shall mean any and all debts, liabilities, costs, expenses and obligations,
whether accrued or fixed, absolute or contingent, matured or unmatured,
reserved or unreserved, or determined or determinable, including those arising
under any law, claim, demand, Action, whether asserted or unasserted, or order,
writ, judgment, injunction, decree, stipulation, determination or award entered
by or with any governmental entity and those arising under any contract or any
fines, damages or equitable relief which may be imposed and including all costs
and expenses related thereto.

 

“Liable
Party” shall have the meaning ascribed to such term in Section 2.9(b).

 

“Losses”
shall have the meaning ascribed to such term in Section 6.1(a).

 

 

“Master
License Agreement” shall mean that certain Master License Agreement, dated
as of            , 2007, by and among OWW
and            .

 

“Non-OWW
Marks” shall have the meaning set forth in Section 7.11(a).

 

“Occurrence
Based Policies” means those liability and property insurance policies
requiring that an incident or event giving rise to a claim take place during
the policy period in order for coverage to apply, regardless of when the claim
is made against the insured or reported to the insurer.

 

“Other
Party” shall have the meaning ascribed to such term in Section 2.9(a).

 

“OWW”
shall have the meaning ascribed to such term in the preamble.

 

“OWW
Affiliated Group” means, collectively, OWW and all of its direct and
indirect Subsidiaries now or hereafter existing.

 

“OWW
Auditors” shall have the meaning set forth in Section 3.1(o).

 

“OWW
Employees” means all current, former or retired employees of any member of
the OWW Affiliated Group.

 

“OWW
Information” shall have the meaning set forth in Section 3.1(l).

 

“OWW Marks”
shall the meaning set forth in Section 7.11(b).

 

“OWW Public
Documents” shall have the meaning set forth in Section 3.1(i).

 

“Party”
or “Parties” means OWW and/or Travelport.

 

“Person”
means any individual, corporation, partnership, joint venture, limited liability
company, association or other entity and any trust, unincorporated organization
or government or any agency or political subdivision thereof.

 

“Privilege”
shall have the meaning set forth in Section 4.4.

 

“Prospectus”
means the prospectus or prospectuses included in any Registration Statement, as
amended or supplemented by any prospectus supplement and by all other
amendments and supplements to such prospectus, including post-effective
amendments and all material incorporated by reference in such prospectus or
prospectuses.

 

“Public
Company Stock” means any class or series of Voting Stock registered under
the Exchange Act and broadly held and actively traded by public stockholders.

 

“Public
Filings” shall have the meaning set forth in Section 3.1(m).

 

“Quarterly
Financial Statements” shall have the meaning set forth in Section 4.2(e).

 

 

“Realogy”
means Realogy Corporation, a Delaware corporation.

 

“Records”
shall have the meaning set forth in Section 7.6.

 

“Registrable
Securities” means any shares of Common Stock or any other Equity Security issued
by OWW held by any member of the Travelport Affiliated Group or by any Transferee
thereof described in Section 5.9 hereof and any other security
(whether issued by OWW or another Person) into or for which the Common Stock or
such other Equity Security has been or is to be converted, substituted or
exchanged, and any security issued or issuable with respect to such Common
Stock or Equity Security upon any stock dividend or stock split or in
connection with a combination of shares, reclassification, recapitalization,
merger, consolidation or other reorganization or otherwise.

 

“Registration
Indemnitees” shall have the meaning set forth in Section 6.2(a).

 

“Registration
Statement” means any registration statement of OWW filed with the SEC under
the Securities Act, including, but not limited to, the IPO S-1 and any
registration statement which relates to any of the Registrable Securities,
including in each such case the Prospectus relating thereto, amendments and
supplements to such Registration Statement, including post-effective
amendments, all exhibits and all materials incorporated by reference in such
Registration Statement and Prospectus.

 

“Regulation
S-K” means Regulation S-K of the General Rules and Regulations under
the Securities Act.

 

“Regulation
S-X” means Regulation S-X of the General Rules and Regulations under
the Securities Act.

 

“Restricted
Employees” shall have the meaning set forth in Section 7.2.

 

“Rules”
shall have the meaning ascribed to such term in Section 9.2.

 

“SEC”
means the Securities and Exchange Commission.

 

“Securities
Act” means the Securities Act of 1933, as amended.

 

“Senior
Indenture” means the Indenture dated as of August 23, 2006 by and
among Travelport LLC and BNS relating to the Senior Notes, as supplemented by
Supplemental Indenture No. 1 thereto dated as of January 11, 2007
between Warpspeed Sub Inc. and BNS, and Supplemental Indenture No. 2
thereto, dated as of March 13, 2007, among Travelport LLC, TDS Investor
(Luxembourg) S.à.r.l., Travelport Inc., OWW, Travelport Holdings, Inc. and
BNS.

 

“Senior
Notes” means the Senior Dollar Floating Rate Notes Due 2014, Senior Euro
Floating Rate Notes due 2014 and the 97/8% Senior Dollar Fixed Rate Notes due
2014 issued by Travelport LLC pursuant to the Senior Indenture.

 

“Senior
Subordinated Indenture” means the Indenture dated as of August 23,
2006 by and among Travelport LLC and BNS relating to the Senior Subordinated
Notes, as 

 

 

supplemented
by Supplemental Indenture No. 1 thereto, dated as of January 11,
2007, between Warpspeed Sub Inc. and BNS, and Supplemental Indenture No. 2
thereto, dated as of March 13, 2007, among Travelport LLC, TDS Investor
(Luxembourg) S.à.r.l., Travelport Inc., OWW, Travelport Holdings, Inc. and
BNS.

 

“Senior
Subordinated Notes” means the 11 7/8% Dollar Senior Subordinated Fixed Rate
Notes due 2016 and the 10 7/8% Senior Subordinated Euro Fixed Rate Notes due
2016 issued by Travelport LLC pursuant to the Subordinated Indenture.

 

“Separation”
shall have the meaning specified in Section 2.1.

 

“Shared
Contract” shall have the meaning specified in Section 2.2(c).

 

“Software”
shall mean all computer programs (whether in source code, object code, or other
form), algorithms, databases, compilations and data, and technology supporting
the foregoing, and all documentation, including flowcharts and other logic and
design diagrams, technical, functional and other specifications, and user and
training materials related to any of the foregoing.

 

“Solicitation”
shall have the meaning set forth in Section 7.2.

 

“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, (ii) any other
partnership, joint venture, association, joint stock company, trust,
unincorporated organization or other entity in which such Person, directly or
indirectly, owns fifty percent (50%) or more of the equity 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 or otherwise has
control over such entity (e.g., as the managing partner of a partnership), or (iii) which
would be considered subsidiaries of such Person within the meaning of
Regulation S-K or Regulation S-X.

 

“TAI”
means Travelport Americas, Inc., a Delaware corporation, formerly known as
Travelport Inc. and Cendant Travel Distribution Services Group, Inc.

 

“Tax
Sharing Agreement” means the Tax Sharing Agreement, dated as of the date
hereof, by and between OWW and Travelport.

 

“Third
Party Claim” shall have the meaning assigned to such term in Section 7.8(a).

 

“Trademarks”
shall mean all U.S. and foreign trademarks, service marks, corporate names,
trade names, domain names, logos, slogans, designs, trade dress and other
similar designations of source or origin, together with the goodwill symbolized
by any of the foregoing.

 

“Trading
Day” shall have the meaning set forth in Section 3.1.

 

“Transactions”
shall mean the Separation and the IPO, considered together.

 

 

“Transfer”
shall have the meaning set forth in Section 2.2(a).

 

“Transferee”
shall have the meaning set forth in Section 5.9(a).

 

“Transition
Services Agreement” means that certain Transition Services Agreement entered
into on the date hereof by Travelport Inc. and OWW.

 

“Travelport”
shall have the meaning ascribed to such term in the preamble.

 

“Travelport
Affiliated Group” means, collectively, Travelport and all of its direct and
indirect Subsidiaries now or hereafter existing, other than members of the OWW
Affiliated Group.

 

“Travelport
Annual Statements” shall have the meaning set forth in Section 3.1(o).

 

“Travelport
Auditors” shall have the meaning set forth in Section 3.1(o).

 

“Travelport
LLC” means Travelport LLC, a Delaware limited liability company, which was
formerly known as Travelport Inc. and TDS Investor Corporation.

 

“Trigger
Date” means the first date on which Travelport ceases to beneficially own Voting
Stock entitled to fifty percent (50%) or more of the votes entitled to be cast
by the then outstanding Voting Stock.

 

“TTO
Related Accounts” means all intercompany accounts related to information
technology, communications and data center services to be provided by any
member of the Travelport Affiliated Group to any member of the OWW Affiliated
Group after the date hereof pursuant to the Transition Services Agreement,
including those that do not appear on Schedule A to Exhibit A
thereto.

 

“TTO
Related Liabilities” means all Liabilities related to information
technology, communications and data center services to be provided by any
member of the Travelport Affiliated Group to any member of the OWW Affiliated
Group after the date hereof pursuant to the Transition Services Agreement,
including those that do not appear on Schedule A to Exhibit A
thereto.

 

“Underwritten
Offering” means a public offering in which securities of OWW are sold to one
or more underwriters on a firm commitment basis for reoffering to the public.

 

“Voting Stock”
means all securities issued by OWW having the ordinary power to vote in the
election of directors of OWW, other than securities having such power only upon
the occurrence of a default or any other extraordinary contingency.

 

“Wyndham”
means Wyndham Worldwide Corporation, a Delaware corporation.

 

 

ARTICLE II

 

THE TRANSACTIONS

 

Section 2.1  General. Subject
to the terms and conditions of this Agreement, the Parties shall use their
respective reasonable commercial efforts to consummate the Transactions to the
extent not already completed. It is the intent of the Parties that after
consummation of the Transactions, and except as otherwise provided in the Ancillary
Agreements or the Continuing Agreements, (i) all of the right, title and
interest in and to the B2C Assets will be owned or held by one or more members
of the OWW Affiliated Group, the operation of the B2C Businesses will be
conducted by one or more members of the OWW Affiliated Group and the B2C Liabilities
will be all assumed directly or indirectly by (or remain with) one or more
members of the OWW Affiliated Group, and (ii) all of the right, title and
interest in and to the B2B Assets will be owned or held by one or more members
of the Travelport Affiliated Group, the operation of the B2B Businesses will be
conducted by one or more members of the Travelport Affiliated Group and the B2B
Liabilities will be all assumed directly or indirectly by (or remain with) one
or more members of the Travelport Affiliated Group ((i) and (ii),
together, the “Separation”).

 

Section 2.2  Transfer of Assets.

 

(a)          On or prior to the date hereof to
the extent not already completed, and except as otherwise provided in the Ancillary
Agreements or the Continuing Agreements: (i) Travelport shall, on behalf
of itself and its Subsidiaries, as applicable, transfer, contribute, assign and
convey or cause to be transferred, contributed, assigned and conveyed (“Transfer”)
to OWW all of its and its Subsidiaries’ right, title and interest in and to the
B2C Assets, and (ii) OWW shall, on behalf of itself and its Subsidiaries,
as applicable, Transfer to Travelport all of its and its Subsidiaries’ right,
title and interest in and to the B2B Assets.

 

(b)         Unless otherwise agreed to by the
Parties, each Party shall be entitled to designate the member of such Party’s
Affiliated Group to which any Assets are to be Transferred pursuant to this Section 2.2.

 

(c)          Treatment of Shared Contracts. Without limiting the generality of
the obligations set forth in Sections 2.2(a) and (b):

 

(i)                                     Unless the Parties otherwise agree,
any contract that is (1) part of the B2B Assets but inures in whole or in part
to the benefit or burden of any member of the OWW Affiliated Group, or (2) part
of the B2C Assets but inures in whole or in part to the benefit or burden of
any member of the Travelport Affiliated Group (each, a “Shared Contract”),
shall be assigned in whole or in part to the applicable member(s) of the
applicable Affiliated Group, if so assignable, or appropriately amended prior
to, on or after the date hereof, so that each Party or the members of their
respective Affiliated Groups shall be entitled to the rights and benefits, and
shall assume the related portion of any Liabilities, inuring to their
respective businesses; provided, however, that (x) in no event shall any
member of any Affiliated Group be required to assign (or amend) any Shared
Contract in its entirety or to assign a portion of any Shared 

 

 

Contract
which is not assignable (or cannot be amended) by its terms (including any
terms imposing consents or conditions on an assignment where such consents or
conditions have not been obtained or fulfilled) and (y) if any Shared Contract
cannot be so partially assigned by its terms or otherwise, or cannot be amended
or if such assignment or amendment would impair the benefit the parties thereto
derive from such Shared Contract, the Parties shall, and shall cause each of
their respective Subsidiaries to, take such other reasonable and permissible
actions to cause Travelport or OWW, as the case may be, to receive the benefit
of that portion of each Shared Contract that is part of the B2B Assets or the
B2C Assets, as the case may be (in each case, to the extent so related), as if
such Shared Contract had been assigned to (or amended to allow) such member of
the applicable Affiliated Group pursuant to this Section 2.2 and to
bear the burden of the corresponding Liabilities (including any Liabilities
that may arise by reason of such arrangement) as if such Liabilities had been
assumed by a member of the applicable Affiliated Group pursuant to this Section 2.2.

 

(ii)                                  Nothing in this Section 2.2(c) shall
require any member of either the Travelport Affiliated Group or the Orbitz
Affiliated Group to make any material payment (except to the extent advanced,
assumed or agreed in advance to be reimbursed by any member of the other
Affiliated Group), incur any material obligation or grant any material
concession for the benefit of any member of the other Affiliated Group to
effect any transaction contemplated by this Section 2.2(c).

 

(d)                                 Consents. The Parties shall use their
commercially reasonable efforts to obtain the required consents from any third
parties (including governmental entities) to Transfer any Assets, contracts,
licenses, permits and authorizations issued by any governmental entity or parts
thereof as contemplated by this Agreement.

 

Section 2.3  Assumption and
Satisfaction of Liabilities. From and after the date hereof, (a) Travelport
shall, or shall cause a member of the Travelport Affiliated Group to, accept,
assume (or, as applicable, retain) and perform, discharge and fulfill, in
accordance with their respective terms (“Assume”, and each such act, an “Assumption”),
all of the B2B Liabilities, and (b) OWW shall, or shall cause a member of
the OWW Affiliated Group to, assume all the B2C Liabilities, in each case,
regardless of (i) when or where such Liabilities arose or arise, (ii) whether
the facts upon which they are based occurred prior to, on or subsequent to the
date hereof, (iii) where or against whom such Liabilities are asserted or
determined and (iv) regardless of whether arising from or alleged to arise
from negligence, recklessness, violation of law, fraud or misrepresentation by
any member of the Travelport Affiliated Group or the OWW Affiliated Group, as
the case may be, or any of their past or present respective directors,
officers, employees, agents, Subsidiaries or Affiliates.

 

Section 2.4  Intercompany
Accounts. All intercompany receivables, payables and loans (other than
receivables, payables and loans otherwise specifically provided for under this
Agreement, including payables created or required hereby) treated as debt by
the Parties, if any, between any member of the Travelport Affiliated Group and
any member of the OWW Affiliated Group which exist and are reflected in the
accounting records of the relevant Parties as of the 

 

date hereof shall, on or prior to the date hereof, be settled, by means
of cash payments, a dividend, capital contribution, a combination of the
foregoing or otherwise, as determined by Travelport. All intercompany balances
that are primarily accounting entries and are not treated as debt by the
Parties, including in respect of any cash balances or any cash held in any
centralized cash management system, between any member of the Travelport
Affiliated Group and any member of the OWW Affiliated Group which exist and are
reflected in the accounting records of the relevant Parties as of the date
hereof shall, at or prior to the date hereof, be eliminated. Some or all of the
foregoing may for administrative convenience be implemented through book
entries. Notwithstanding the foregoing, any intercompany accounts provided for
on the exhibits or schedules to this Agreement or the Transition Services
Agreement (including, for the avoidance of doubt, all TTO Related Accounts, and
those Continuing Agreements listed on Schedule 2.5 hereto) shall
not be subject to this Section 2.4.

 

Section 2.5  Limitation of
Liability.

 

(a)          Neither Party nor any Subsidiary
thereof shall have any liability to the other Party or any Subsidiary thereof
in the event that any information exchanged or provided pursuant to this
Agreement which is an estimate or forecast, or which is based on an estimate or
forecast, is found to be inaccurate.

 

(b)         Neither Party nor any Subsidiary
thereof shall be liable to the other Party or any Subsidiary thereof based
upon, arising out of or resulting from any contract, arrangement, course of
dealing or understanding existing on or prior to the date hereof (other than
this Agreement, the Ancillary Agreements, the Continuing Agreements or any other
contract entered into in connection herewith or to consummate the Transactions)
and each Party hereby terminates any and all contracts, arrangements, course of
dealings or understandings between or among it and the other Party effective as
of the date hereof (other than this Agreement, the Ancillary Agreements, the
Continuing Agreements or any other contract entered into in connection herewith
or to consummate the Transactions), and any Liability, whether or not in
writing, which is not reflected in the Continuing Agreements on such Schedule 2.5
to this Agreement or is not a TTO Related Liability, is hereby irrevocably
cancelled, released and waived. No such terminated contract, arrangement,
course of dealing or understanding (including any provision thereof which
purports to survive termination) shall be of any further force or effect after
the date hereof.

 

(c)          The provisions of Section 2.5(b) shall
not apply to any of the following contracts, arrangements, course of dealings
or understandings (or to any of the provisions thereof):

 

(i)                                     any agreements, arrangements,
commitments or understandings to which any Person other than the Parties and
their respective Affiliates is a party (it being understood that to the extent
that the rights and obligations of the Parties and the members of their
respective Affiliated Groups under any such contracts constitute B2B Assets,
B2C Assets, B2B Liabilities or B2C Liabilities, such contracts shall be
assigned or retained pursuant to this Article II or as addressed in
the Ancillary Agreements or Continuing Agreements); and

 

 

(ii)                                  any agreements, arrangements,
commitments or understandings to which any non-wholly-owned Subsidiary of Travelport
or OWW is a party.

 

Section 2.6  Transfers Not
Effected On or Prior to the Date Hereof; Transfers Deemed Effective as of the
Date Hereof.

 

(a)          To the extent that any Transfers
contemplated by this Article II shall not have been consummated on
or prior to the date hereof, the Parties shall cooperate to effect such
Transfers as promptly following the date hereof as shall be practicable.
Nothing herein shall be deemed to require the Transfer of any Assets or the Assumption
of any Liabilities which by their terms or operation of law cannot be
Transferred; provided, however, that the Parties and their respective
Subsidiaries shall cooperate and use commercially reasonable efforts to seek to
obtain any necessary consents or governmental approvals for the Transfer of all
Assets and Assumption of all Liabilities contemplated to be Transferred and
assumed pursuant to this Article II. In the event that any such
Transfer of Assets or Assumption of Liabilities has not been consummated, from
and after the date hereof (i) the Party retaining such Asset shall
thereafter hold such Asset for the use and benefit of the Party entitled
thereto (at the expense of the Person entitled thereto) and (ii) the Party
intended to assume such Liability shall, or shall cause the applicable member
of its Affiliated Group to, pay or reimburse the Party retaining such Liability
for all amounts paid or incurred in connection with the retention of such Liability.
In addition, the Party retaining such Asset or Liability shall, insofar as reasonably
possible and to the extent permitted by applicable law, treat such Asset or Liability
in the ordinary course of business in accordance with past practice and take
such other actions as may be reasonably requested by the Party to which such Asset
is to be Transferred or by the Party assuming such Liability to place such
Party, insofar as reasonably possible, in the same position as if such Asset or
Liability had been Transferred or assumed as contemplated hereby and so that
all the benefits and burdens relating to such Asset or Liability, including
possession, use, risk of loss, potential for gain, and dominion, control and
command over such Asset or Liability, are to inure from and after the date
hereof to the member or members of the Travelport Affiliated Group or the OWW
Affiliated Group entitled to the receipt of such Asset or required to assume
such Liability. In furtherance of the foregoing, the Parties agree that, as of
the date hereof, each Party shall be deemed to have acquired complete and sole
beneficial ownership over all of the Assets, together with all rights, powers
and privileges incident thereto, and shall be deemed to have assumed in
accordance with the terms of this Agreement all of the Liabilities, and all
duties, obligations and responsibilities incident thereto, which such Party is
entitled to acquire or required to assume pursuant to the terms of this
Agreement.

 

(b)         If and when the consents,
governmental approvals and/or conditions, the absence or non-satisfaction of
which caused the deferral of Transfer of any Asset or deferral of the Assumption
of any Liability pursuant to Section 2.6(a), are obtained or
satisfied, the Transfer, assignment, Assumption or novation of the applicable Asset
or Liability shall be effected in accordance with and subject to the terms of
this Agreement.

 

(c)          The Party retaining any Asset or Liability
due to the deferral of the Transfer of such Asset or the deferral of the Assumption
of such Liability pursuant to Section 2.6(a) or otherwise
shall not be obligated, in connection with the foregoing, to expend any money
unless 

 

 

the necessary funds
are advanced, assumed, or agreed in advance to be reimbursed by the Party
entitled to such Asset or the Person intended to be subject to such Liability,
other than reasonable attorneys’ fees and recording or similar fees, all of
which shall be promptly reimbursed by the Party entitled to such Asset or the
Person intended to be subject to such Liability.

 

(d)         On and prior to the twelve  (12) month anniversary of the date hereof, if either Party
owns any Asset, that, although not Transferred pursuant to this Agreement, is
agreed by such Party and the other Party in their good faith judgment to be an Asset
that more properly belongs to the other Party or a Subsidiary of the other
Party, or an Asset that such other Party or Subsidiary was intended to have the
right to continue to use (other than (for the avoidance of doubt) any Asset
acquired from an unaffiliated third party by a Party or member of such Party’s
Affiliated Group following the date hereof), then the Party owning such Asset
shall, as applicable (i) Transfer any such Asset to the Party identified
as the appropriate transferee, or (ii) grant such mutually agreeable
rights with respect to such Asset to permit such continued use, in each case subject
to and consistent with this Agreement, including with respect to Assumption of any
associated Liabilities by the transferee. The Parties intend that all contracts
wholly related to the B2C Businesses held by TAI as of June 1, 2007
properly belong to OWW, and such contracts shall be transferred from TAI to OWW
as soon as possible (pending any required third party consent) after the date
hereof if not previously transferred; contracts held by TAI as of such date
that relate in part to the B2C Businesses and in part to the B2B Businesses
shall be treated in accordance with Section  2.2(c).

 

(e)                                  After the date hereof, each Party
may receive mail, packages and other communications properly belonging to the other
Party. Accordingly, at all times after the date hereof, each Party authorizes
the other Party to receive and open all mail, packages and other communications
received by such Party and not unambiguously intended for such Party, any
member of such Party’s Affiliated Group or any of their officers or directors,
and to the extent that they do not relate to the business of the receiving
Party, the receiving Party shall promptly deliver such mail, packages or other
communications (or, in case the same relate to both businesses, copies thereof)
to the other Party. The provisions of this Section 2.6(e) are
not intended to, and shall not, be deemed to constitute an authorization by either
Party to permit the other to accept service of process on its behalf and neither
Party is or shall be deemed to be the agent of the other Party for service of
process purposes.

 

(f)            Each of Travelport and OWW shall,
and shall cause the members of its respective Affiliated Group to, (i) treat
for all income tax purposes (A) the deferred Assets as Assets having been
Transferred to and owned by the Party entitled to such Assets not later than
the date hereof and (B) the deferred Liabilities as Liabilities having
been assumed and owed by the Person intended to be subject to such Liabilities
not later than the date hereof and (ii) neither report nor take any income
tax position (on a tax return or otherwise) inconsistent with such treatment
(unless required by a change in applicable tax law or good faith resolution of
a tax contest relating to income taxes).

 

Section 2.7  Conveyancing
and Assumption Instruments. In connection with, and in furtherance of, the
Transfers of Assets and the Assumptions of Liabilities contemplated by this
Agreement, the Parties shall execute or cause to be executed, on or prior to
the date hereof, by the appropriate entities, the conveyancing and assumption
instruments necessary to evidence the 

 

 

valid and effective Assumption by the applicable Party of its assumed Liabilities
and the valid Transfer to the applicable Party or member of such Party’s
Affiliated Group of all right, title and interest in and to its accepted Assets,
in substantially the form contemplated hereby for Transfers and Assumptions to
be effected pursuant to New York law or the laws of one of the other states of
the United States or, if not appropriate for a given Transfer, and for
Transfers to be effected pursuant to non-U.S. laws, in such other form as the
Parties shall reasonably agree, including the Transfer of real property with
deeds as may be appropriate. The Transfer of capital stock shall be effected by
means of executed stock powers and notation on the stock record books of the
corporation or other legal entities involved, or by such other means as may be
required in any non-U.S. jurisdiction to Transfer title to stock and, only to
the extent required by applicable law, by notation on public registries.

 

Section 2.8  Further
Assurances.

 

(a)          In addition to and without limiting
the actions specifically provided for elsewhere in this Agreement, including Section 2.6,
each of the Parties shall cooperate with each other and use (and will cause
their respective Subsidiaries and Affiliates to use) commercially reasonable
efforts, on and after the date hereof, to take, or to cause to be taken, all
actions, and to do, or to cause to be done, all things reasonably necessary on
its part under applicable law or contractual obligations to consummate and make
effective the Transactions.

 

(b)         Without limiting the foregoing, on
and after the date hereof, each Party shall cooperate with the other Parties,
and without any further consideration, but at the expense of the requesting
Party from and after the date hereof, to execute and deliver, or use
commercially reasonable efforts to cause to be executed and delivered, all
instruments, including instruments of Transfer, and to make all filings with,
and to obtain all consents and/or governmental approvals, any permit, license,
contract, indenture or other instrument (including any consents or governmental
approvals), and to take all such other actions as such Party may reasonably be
requested to take by the other Party from time to time, consistent with the
terms of this Agreement, to effectuate the provisions and purposes of this
Agreement and the Transfers of the applicable Assets and the assignment and Assumption
of the applicable Liabilities and the other transactions contemplated hereby
and thereby. Without limiting the foregoing, each Party will, at the reasonable
request, cost and expense of the other Party, take such other actions as may be
reasonably necessary to vest in such other Party good and marketable title to
the Assets allocated to such Party under this Agreement, free and clear of any
security interest, if and to the extent it is practicable to do so.

 

Section 2.9  Novation of
Liabilities.

 

(a)          Except as to any B2B Liabilities or
B2C Liabilities otherwise Assumed pursuant to this Article II, or
as otherwise provided in Schedule A to Exhibit A of the Transition
Services Agreement, each Party, at the request of the other party, shall use
commercially reasonable efforts to obtain, or to cause to be obtained, any
consent, substitution or amendment required to novate or assign all Liabilities
under contracts, licenses and other obligations for which a member of such
Party’s Affiliated Group and a member of the other party’s Affiliated Group are
jointly or severally liable and that do not constitute Liabilities of such
other party as provided in this Agreement (such other party, the “Other
Party”), or to obtain in writing the 

 

 

unconditional release
of all parties to such arrangements (other than any member of the Affiliated
Group who assumed or retained such Liability as set forth in this Agreement),
so that, in any such case, the members of the applicable Affiliated Group will
be solely responsible for such Liabilities; provided, however, that neither
Party shall be obligated to pay any consideration therefor to any third party
from whom any such consent, substitution or amendment is requested (unless such
Party is fully reimbursed by the requesting Party).

 

(b)         If the Parties are unable to obtain,
or to cause to be obtained, any such required consent, release, substitution or
amendment pursuant to Section 2.9(a), the Other Party or a member
of such Other Party’s Affiliated Group shall continue to be bound by such
contract, license or other obligation that does not constitute a Liability of
such Other Party and, unless not permitted by law or the terms thereof, as
agent or subcontractor for such Party, the Party or member of such Party’s
Affiliated Group who assumed or retained such Liability as set forth in this
Agreement (the “Liable Party”) shall, or shall cause a member of its
Affiliated Group to, directly pay, perform and discharge fully all the obligations
or other Liabilities of such Other Party or member of such Other Party’s
Affiliated Group thereunder from and after the date hereof. The Liable Party
shall indemnify each Other Party and hold each of them harmless against any Liabilities
(other than Liabilities of such Other Party) arising in connection therewith; provided,
that the Liable Party shall have no obligation to indemnify the Other Party
with respect to any matter to the extent that such Other Party has engaged in
any knowing violation of law, fraud or misrepresentation in connection
therewith. The Other Party shall, without further consideration, promptly pay
and remit, or cause to be promptly paid or remitted, to the Liable Party or to
another member of the Liable Party’s Affiliated Group, all money, rights and
other consideration received by it or any member of its Affiliated Group in
respect of such performance by the Liable Party (unless any such consideration
is an Asset of such Other Party pursuant to this Agreement). If and when any
such consent, release, substitution or amendment shall be obtained or such
agreement, lease, license or other rights or obligations shall otherwise become
assignable or able to be novated, the Other Party shall promptly Transfer all
rights, obligations and other Liabilities thereunder of any member of such
Other Party’s Affiliated Group to the Liable Party or to another member of the
Liable Party’s Affiliated Group without payment of any further consideration
and the Liable Party, or another member of such Liable Party’s Affiliated
Group, without the payment of any further consideration, shall assume such
rights and Liabilities.

 

Section 2.10  Guarantees.

 

(a)          On or prior to the date hereof or as
soon as practicable thereafter, (i) Travelport shall (with the reasonable
cooperation of the other Party) use its commercially reasonable efforts to have
any member of the OWW Affiliated Group removed as guarantor of or obligor for
any B2B Liability, including any Keepwell, and (ii) OWW shall (with the
reasonable cooperation of the other Party) use its commercially reasonable
efforts to have any member of the Travelport Affiliated Group removed as
guarantor of or obligor for any B2C Liability, including any Keepwell.

 

(b)         On or prior to the date hereof, to
the extent required to obtain a release from a guaranty (a “Guaranty Release”)
(i) of any member of the Travelport Affiliated Group, OWW shall execute a
guaranty agreement in the form of the existing guaranty, except to the extent
that 

 

 

such existing
guaranty contains representations, covenants or other terms or provisions
either (A) with which OWW would be reasonably unable to comply or (B) which
would be reasonably expected to be breached, and (ii) of any member of the
OWW Affiliated Group, Travelport shall execute a guaranty agreement in the form
of the existing guaranty, except to the extent that such existing guaranty
contains representations, covenants or other terms or provisions either (A) with
which Travelport would be reasonably unable to comply or (B) which would
be reasonably expected to be breached.

 

(c)          If either Party is unable to obtain,
or to cause to be obtained, any such required removal as set forth in clauses (a) and
(b) of this Section 2.10, (i) the relevant beneficiary
shall indemnify and hold harmless the guarantor or obligor for any Loss arising
from or relating thereto (in accordance with the provisions of Article VI)
and shall or shall cause one of its Subsidiaries, as agent or subcontractor for
such guarantor or obligor to pay, perform and discharge fully all the
obligations or other Liabilities of such guarantor or obligor thereunder and (ii) each
Party agrees not to renew or extend the term of, increase its obligations
under, or Transfer to a third party, any loan, guarantee, lease, contract or
other obligation for which the other Party is or may be liable unless all
obligations of such other Party and the other members of such Party’s
Affiliated Group with respect thereto are thereupon terminated by documentation
reasonably satisfactory in form and substance to such Party; provided,
however, with respect to leases, in the event a Guaranty Release is not
obtained and such Party wishes to extend the term of such guaranteed lease,
then such Party shall have the option of extending the term if it provides such
security as is reasonably satisfactory to the guarantor under such guaranteed
lease.

 

Section 2.11  Disclaimer of
Representations and Warranties. EACH OF TRAVELPORT (ON BEHALF OF ITSELF AND
EACH MEMBER OF THE TRAVELPORT AFFILIATED GROUP) AND OWW (ON BEHALF OF ITSELF
AND EACH MEMBER OF THE OWW AFFILIATED GROUP) UNDERSTANDS AND AGREES THAT,
EXCEPT AS EXPRESSLY SET FORTH HEREIN, NO PARTY TO THIS AGREEMENT, THE ANCILLARY
AGREEMENTS, THE CONTINUING AGREEMENTS OR ANY OTHER AGREEMENT OR DOCUMENT CONTEMPLATED
BY THIS AGREEMENT, THE ANCILLARY AGREEMENTS OR THE CONTINUING AGREEMENTS, OR
OTHERWISE, IS REPRESENTING OR WARRANTING IN ANY WAY, AND HEREBY DISCLAIMS ALL
REPRESENTATIONS AND WARRANTIES, AS TO THE ASSETS, BUSINESSES, INFORMATION OR
LIABILITIES CONTRIBUTED, TRANSFERRED OR ASSUMED AS CONTEMPLATED HEREBY OR
THEREBY, AS TO ANY CONSENTS OR GOVERNMENTAL APPROVALS REQUIRED IN CONNECTION
HEREWITH OR THEREWITH, AS TO THE VALUE OR FREEDOM FROM ANY SECURITY INTERESTS
OF, OR ANY OTHER MATTER CONCERNING, ANY ASSETS OF SUCH PARTY, OR AS TO THE
ABSENCE OF ANY DEFENSES OR RIGHT OF SETOFF OR FREEDOM FROM COUNTERCLAIM WITH
RESPECT TO ANY ACTION OR OTHER ASSET, INCLUDING ACCOUNTS RECEIVABLE, OF EITHER PARTY,
OR AS TO THE LEGAL SUFFICIENCY OF ANY CONTRIBUTION, ASSIGNMENT, DOCUMENT,
CERTIFICATE OR INSTRUMENT DELIVERED HEREUNDER TO CONVEY TITLE TO ANY ASSET OR
THING OF VALUE UPON THE EXECUTION, DELIVERY AND FILING HEREOF OR THEREOF.
EXCEPT AS MAY EXPRESSLY BE SET FORTH HEREIN, ALL SUCH ASSETS ARE BEING
TRANSFERRED ON AN “AS IS,” “WHERE IS” BASIS (AND, IN THE CASE OF ANY REAL
PROPERTY, BY MEANS OF A QUITCLAIM OR SIMILAR FORM DEED 

 

 

OR CONVEYANCE) AND THE RESPECTIVE TRANSFEREES SHALL BEAR THE ECONOMIC
AND LEGAL RISKS THAT (I) ANY CONVEYANCE SHALL PROVE TO BE INSUFFICIENT TO VEST
IN THE TRANSFEREE GOOD TITLE, FREE AND CLEAR OF ANY SECURITY INTEREST AND (II)
ANY NECESSARY CONSENTS OR GOVERNMENTAL APPROVALS ARE NOT OBTAINED OR THAT ANY
REQUIREMENTS OF LAWS OR JUDGMENTS ARE NOT COMPLIED WITH.

 

Section 2.12  Allocation of
Costs and Expenses.   OWW shall pay
(or, to the extent incurred by and paid for by any member of the Travelport
Affiliated Group, will promptly reimburse such member of the Travelport
Affiliated Group for any and all amounts so paid) for all fees, costs and expenses
incurred by any member of the OWW Affiliated Group or any member of the
Travelport Affiliated Group in connection with the IPO, including, but not
limited to, any and all fees, costs and expenses related to (a) the
preparation and negotiation of this Agreement, the Ancillary Agreements, the
Continuing Agreements and of all of the documentation related to the Transactions,
(b) the preparation and execution or filing of any and all further
documents, agreements, forms, applications, contracts or consents associated
with the Transactions, (c) OWW’s organizational documents, (d) the
preparation, printing and filing of the IPO S-1, including all fees and
expenses of complying with applicable federal, state or foreign securities laws
and domestic or foreign securities exchange rules and regulations,
together with fees and expenses of counsel retained to effect such compliance, (e) the
preparation, printing and distribution of all of the prospectuses for the IPO, (f) the
listing of the Common Stock on any domestic or foreign securities exchange, and
(g) the preparation (including, but not limited to, the printing of
documents) related to implementing OWW’s employee benefit plans, retirement
plans and equity-based plans (if any) as a result of or in connection with the
IPO.

 

ARTICLE III

 

EQUITY
PURCHASE RIGHTS

 

Section 3.1  Equity
Purchase Rights.   So long as the
members of the Travelport Affiliated Group beneficially own, in the aggregate, Voting
Stock entitled to fifty percent (50%) or more of the votes entitled to be cast
by the then outstanding Voting Stock, the members of the Travelport Affiliated
Group shall have the equity purchase rights set forth in this Section 3.1
(the “Equity Purchase Rights”); provided, that the members of the
Travelport Affiliated Group shall not be entitled to Equity Purchase Rights to
the extent that the principal national securities exchange in the United States
on which the Common Stock is listed, if any, prohibits or limits the granting
by OWW of such Equity Purchase Rights.

 

As soon as
practicable after determining to issue Equity Securities, but in any event at
least five Business Days prior to the issuance of Equity Securities to any
Person other than to a member of the Travelport Affiliated Group (and other
than Equity Securities (i) if OWW then has outstanding Public Company
Stock, issued under dividend reinvestment plans which offer Voting Stock to
security holders at a discount from Average Market Price (as defined below) no
greater than is customary for public corporations at such time, (ii) issued
pursuant to the IPO, (iii) issued in mergers, acquisitions and exchange
offers (including transactions in respect of which Travelport has provided its
consent pursuant to Article           ,

 

 

Section             of the Charter), or (iv) pursuant to its
equity incentive plans approved by its Board of Directors), OWW shall notify
Travelport in writing of such proposed issuance (which notice shall specify, to
the extent practicable, the purchase price (or other consideration) for, and
terms and conditions of, such Equity Securities) and shall offer to sell to
Travelport (which offer may be assigned by Travelport to another member of the
Travelport Affiliated Group) at the purchase price (net of any underwriting
discounts or commissions), if any, to be paid by the transferee(s) of such Equity
Securities, an amount of Equity Securities determined as provided below. Immediately
after the amount of Equity Securities to be sold to other Persons is known to OWW,
it shall notify Travelport (or such assignee) of such amount. If such offer is
accepted in writing within ten Business Days after the notice of such proposed
sale (or such longer period as is necessary for the members of the Travelport
Affiliated Group to obtain any required regulatory approvals), OWW shall issue to
such member of the Travelport Affiliated Group an amount of Equity Securities
(the “Equity Securities Amount”) equal to the product of (A) the
quotient of (x) the number of shares of Voting Stock owned by the members of
the Travelport Affiliated Group, in the aggregate, immediately prior to the
issuance of the Equity Securities by (y) the aggregate number of shares of
Outstanding Voting Stock owned by Persons other than by members of the
Travelport Affiliated Group immediately prior to the issuance of the Equity
Securities, multiplied by (B) the aggregate number of Equity Securities proposed
to be issued by OWW to Persons other than to members of the Travelport
Affiliated Group, rounded up to the nearest whole Equity Security. If, at the
time of the determination of any Equity Securities Amount, any other Person has
preemptive or other equity purchase rights similar to the Equity Purchase
Rights, such Equity Securities Amount shall be recalculated to take into
account the amount of Voting Stock to be sold to such Persons, rounding up such
Equity Securities Amount to the nearest whole Equity Security. If OWW
determines in good faith that, in light of the advice of an investment banking
firm advising it or of its other financial advisors, it must consummate the
issuance and sale of the Equity Securities prior to the members of the
Travelport Affiliated Group having obtained any necessary regulatory approvals,
OWW shall notify Travelport in writing of such determination and shall then be
free so to consummate such issuance and sale without the members of the
Travelport Affiliated Group having the right then to purchase their proportionate
share of such Equity Securities; provided, however, that in such event the
members of the Travelport Affiliated Group shall have the right to purchase
from OWW, within 60 Business Days (or such longer period (up to two years) as
is necessary for the members of the Travelport Affiliated Group to obtain such regulatory
approvals) Voting Stock in an amount equal to the amount of Voting Stock it
would have received had it been able to purchase (and, in the case of Equity
Securities other than Voting Stock, securities exercisable or exchangeable for
or convertible into Voting Stock) the Equity Securities offered to it pursuant
to this Section 3.1, at a per share purchase price equal to the
lower of (i) the sum of the purchase price (net of any underwriting
discounts or commissions), if any, paid by the transferee(s) plus the exercise
price, if any, of such Equity Securities, or (ii) the Average Market Price
per share of Voting Stock and, if there is no Average Market Price, the Fair
Market Value per share of Voting Stock, in each case, at the time of purchase
by the applicable member(s) of the Travelport Affiliated Group.

 

The purchase
and sale of any Equity Securities pursuant to this Section 3.1
shall take place at 9:00 am on the latest of (i) the fifth Business Day
following the acceptance of such offer, (ii) the Business Day on which
such Equity Securities are issued to Persons other than the members of the
Travelport Affiliated Group and (iii) the fifth Business Day following the
expiration of any required governmental or other regulatory waiting periods or
the obtaining of 

 

 

any required
governmental or other regulatory consents or approvals, at the offices of
Travelport indicated in Section 10.1 hereof, or at such other time
and place in New York City as Travelport and OWW shall agree. At the time of
purchase, OWW shall deliver to Travelport (or such assignee) certificates
registered in the name of the appropriate member(s) of the Travelport
Affiliated Group representing the shares purchased and Travelport shall
transfer to OWW the purchase price in United States dollars by bank check or
wire transfer of immediately available funds, as specified by OWW, to an
account designated by OWW not less than five Business Days prior to the date of
purchase. OWW and the members of the Travelport Affiliated Group will use their
best efforts to comply as soon as practicable with all federal and state laws
and regulations and stock exchange listing requirements applicable to any
purchase and sale of securities under this Section 3.1. In the
event that the consideration to be provided to OWW in connection with the
issuance of Equity Securities that resulted in this Section 3.1
being applicable is other than cash, then Travelport shall have the option of
paying the purchase price in either (i) the form of such other
consideration, if practicable, or (ii) cash, based on the Fair Market
Value of the consideration being received by OWW.

 

As used
herein, “Average Market Price” of any security on any date means the
average of the daily closing prices for the 10 consecutive Trading Days
selected by OWW commencing not less than 20 days nor more than 30 Trading Days
before the day in question. The closing price for each day shall be the last
reported sale price regular way or, in case no such reported sale takes place
on such day, the average of the reported closing bid and asked prices regular
way, in either case on the New York Stock Exchange or, if such security is not
listed or admitted to trading on such exchange, on the principal national
securities exchange on which such security is listed or admitted to trading or,
if not listed or admitted to trading on any national securities exchange or, if
such security is not listed or admitted to trading on any national securities
exchange, the average of the closing bid and asked prices in the
over-the-counter market as furnished by any New York Stock Exchange member firm
selected from time to time by OWW for that purpose. For the purpose of this
definition, the term “Trading Day” shall mean each Monday, Tuesday,
Wednesday, Thursday and Friday, other than any day on which securities are not
traded on such exchange or in such market.

 

ARTICLE IV

 

FINANCIAL AND
OTHER INFORMATION

 

Section 4.1  Ten Percent
Threshold.   OWW agrees that, during
any period in which the members of the Travelport Affiliated Group beneficially
own, in the aggregate, Voting Stock entitled to ten percent (10%) but less than
twenty (20%) of the votes entitled to be cast by the then outstanding Voting
Stock, OWW shall:

 

(a)          furnish to Travelport as soon as
publicly available, copies of all financial statements, reports, notices and
proxy statements sent by OWW in a general mailing to all its shareholders, of
all reports on Forms 10-K, 10-Q and 8-K, and of all final prospectuses filed
pursuant to Rule 424 under the Securities Act; and

 

(b)         permit Travelport to visit and
inspect any of the properties, corporate books, and financial and other records
of the member of the OWW Affiliated Group, and to discuss the 

 

 

affairs, finances and
accounts of any such member of the OWW Affiliated Group with the officers of
OWW and the OWW Auditors, all at such times and as often as Travelport may
reasonably request; provided, that Travelport enters into an agreement
with OWW to maintain the confidentiality of the information specified in this Section 4.1(b).

 

Section 4.2  Twenty Percent
Threshold. OWW agrees that, during any period in which the members of the
Travelport Affiliated Group beneficially own, in the aggregate, Voting Stock entitled
to twenty percent (20%) or more of the votes entitled to be cast by the then
outstanding Voting Stock, or during any period in which any member of the
Travelport Affiliated Group is required to account for its investment in OWW on
a consolidated basis or under the equity method of accounting (determined in
accordance with GAAP consistently applied after consultation with Travelport
Auditors (as defined below)), in addition to the requirements of Section 4.1(b):

 

(a)          Maintenance of Books and Records. OWW shall, and shall cause each of
its consolidated Subsidiaries to, (i) make and keep books, records and
accounts, which, in reasonable detail, accurately and fairly reflect the
transactions and dispositions of the Assets of OWW and such Subsidiaries and (ii) devise
and maintain a system of internal accounting controls sufficient to provide
reasonable assurances that: (w) transactions are executed in accordance with
management’s general or specific authorization, (x) transactions are recorded
as necessary (1) to permit preparation of financial statements in
conformity with GAAP or any other criteria applicable to such statements and (2) to
maintain accountability for Assets, (y) access to Assets is permitted only in
accordance with management’s general or specific authorization, and (z) the
recorded accountability for Assets is compared with existing Assets at
reasonable intervals and appropriate action is taken with respect to any
differences.

 

(b)         Fiscal Year. OWW shall, and shall cause each of
its consolidated Subsidiaries to, maintain a fiscal year which commences on January 1
and ends on December 31 of each calendar year or such other fiscal year as
then maintained by Travelport or its successor; provided that, if on the
date hereof any consolidated Subsidiary of OWW has a fiscal year which ends on
a date other than December 31, OWW shall use its best efforts to cause
such Subsidiary to change its fiscal year to one which ends on December 31
if such change is reasonably practical. OWW shall close its books in accordance
with Travelport’s close calendar and close procedures.

 

(c)          Summary Monthly Financial
Information.
As soon as practicable, and within five Business Days after the end of each
month in each fiscal year of OWW, OWW shall deliver to Travelport a summary of
consolidated net income and consolidated pre-tax income for the OWW Affiliated
Group for such month and the year-to-date period.

 

(d)         Detailed Monthly Financial
Information.
As soon as practicable, and within ten Business Days after the end of each
month in each fiscal year of OWW, OWW shall deliver to Travelport detailed
financial, metrics and driver information for the OWW Afiliated Group consistent
with that provided to Travelport during the twelve month period prior to the
date hereof, including statements of operations, balance sheets, statements of
shareholders’ equity and cash flows.

 

 

(e)          Unaudited Quarterly Financial
Statements. As
soon as practicable, and within 35 days after the end of each of the first
three fiscal quarters in each fiscal year of OWW, OWW shall deliver to Travelport
drafts of (i) the consolidated financial statements of OWW (and notes
thereto) for such periods and for the period from the beginning of the current
fiscal year to the end of such quarter, setting forth in each case in
comparative form for each such fiscal quarter of OWW the consolidated figures
(and notes thereto) for the corresponding quarter and periods of the previous
fiscal year and all in reasonable detail and prepared in accordance with Article 10
of Regulation S-X, and (ii) a discussion and analysis by management of OWW’s
consolidated financial condition and results of operations for such fiscal
period, including, without limitation, an explanation of any material adverse
change, all in reasonable detail and prepared in accordance with Item 303(b) of
Regulation S-K. The information set forth in clauses (i) and (ii) above
is herein referred to as the “Quarterly Financial Statements.”  OWW shall deliver to Travelport all revisions
to such drafts as soon as any such revisions are prepared or made. No later
than the date OWW publicly files the Quarterly Financial Statements with the
SEC or otherwise, OWW shall deliver to Travelport the final form of the
Quarterly Financial Statements certified by the chief financial officer of OWW
as presenting fairly, in all material respects, the financial condition and
results of operations of OWW and its consolidated Subsidiaries.

 

(f)            Audited Annual Financial Information. As soon as is practicable, OWW
shall deliver to Travelport (i) within 60 days after the end of each
fiscal year of OWW, drafts of (x) the consolidated financial statements of OWW
(and notes thereto) for such year, setting forth in each case in comparative
form the consolidated figures (and notes thereto) for the previous fiscal year
and all in reasonable detail and prepared in accordance with Regulation S-X and
(y) a discussion and analysis by management of OWW’s consolidated financial
condition and results of operations for such year, including, without
limitation, an explanation of any material adverse change, all in reasonable
detail and prepared in accordance with Item 303(a) of Regulation S-K and (ii) within
45 days after the end of each fiscal year of OWW, a draft of a discussion and
analysis of OWW’s consolidated financial condition and results of operations
for such year, including, without limitation, an explanation of any material
adverse change, all in reasonable detail and prepared in accordance with Item
303(a) of Regulation S-K, for the inclusion in the annual report to
stockholders or equity owners of any member of the Travelport Affiliated Group.
The information set forth in (i) and (ii) above is herein referred to
as the “Annual Financial Statements.” 
OWW shall deliver to Travelport all revisions to such drafts as soon as
any such revisions are prepared or made. OWW shall deliver to Travelport, no
later than 90 days after the end of each fiscal year of OWW (or on such earlier
date on which the same are filed with the SEC), in final form, the Annual
Financial Statements accompanied by an opinion thereon by OWW’s independent
certified public accountants.

 

(g)         Other Financial Information. OWW shall provide to Travelport
upon request such other information and analyses as Travelport may reasonably
request on behalf of any member of the Travelport Affiliated Group to analyze
the financial statements and financial condition and results of operations of the
OWW Affiliated Group and shall provide Travelport and its accountants with an
opportunity to meet with management of OWW and its accountants in connection
therewith. OWW shall deliver to Travelport all Quarterly Financial Statements
and Annual Financial Statements of each Subsidiary of OWW which is itself
required to file financial statements with the SEC or otherwise make such
financial statements publicly available, with such financial statements to be
provided in the same manner and detail and on the 

 

 

same time schedule as
those financial statements of OWW required to be delivered to Travelport
pursuant to this Section 4.2.

 

(h)         General Financial Statement
Requirements.
All information provided by any member of the OWW Affiliated Group to Travelport
pursuant to Sections 4.2(c)-(i) inclusive, shall be consistent in
terms of format and detail and otherwise with the procedures and practices in
effect on the date hereof with respect to the provision of such financial and
other information by any member of the OWW Affiliated Group to Travelport (and
where appropriate, as presently presented in financial and other reports
delivered to the Board of Directors or management of Travelport), with such
changes therein as may be reasonably requested by Travelport from time to time,
unless changes in such procedures or practices are required to comply with the rules and
regulations of the SEC, as applicable.

 

(i)             Public Information and SEC Reports. Any member of the OWW Affiliated
Group which files information with the SEC shall deliver to Travelport as soon
as the same are substantially final, drafts of all reports, notices and proxy
and information statements to be sent or made available by any member of the OWW
Affiliated Group to their security holders and all regular, periodic and other
reports filed under Sections 13, 14 and 15 of the Exchange Act (including
Reports on Forms 10-K, 10-Q and 8-K and Annual Reports to Shareholders), and
all registration statements and prospectuses to be filed by any member of the OWW
Affiliated Group with the SEC or any securities exchange pursuant to the listing
agreement, listing rules, listed company manual (or similar requirements) of
such exchange (collectively, “OWW Public Documents”) but in no event
later than two Business Days in the case of any report on Form 8-K, or 10
Business Days in the case of any other such filing, prior to the filing thereof
with the SEC, and, no later than the date the same are printed, sent or filed,
whichever is earliest, final copies of all OWW Public Documents. Prior to
issuance, OWW shall deliver to Travelport copies of all press releases and
other statements to be made available by any member of the OWW Affiliated Group
to the public, including, without limitation, information concerning material
developments in the business, properties, results of operations, financial
condition or prospects of any member of the OWW Affiliated Group. No report,
registration, information or proxy statement, prospectus or other document
which refers, or contains information with respect, to any member of the
Travelport Affiliated Group shall be filed with the SEC or otherwise made
public by any member of the OWW Affiliated Group without the prior written
consent of Travelport with respect to those portions of such document which
contain information with respect to any member of the Travelport Affiliated
Group, except as may be required by law, rule or regulation (in such cases
OWW shall use its best efforts to notify the relevant member of the Travelport
Affiliated Group and obtain such member’s consent before making such a filing
with the SEC or otherwise making any such information public).

 

(j)             Budgets and Projections. OWW shall, as promptly as
practicable (but in no event later than December 1 of each year), deliver
to Travelport copies of annual and other budgets and financial projections
(consistent in terms of format and detail and otherwise with the procedures in
effect on the date hereof) relating to any member of the OWW Affiliated Group and
shall provide Travelport an opportunity to meet with management of OWW to
discuss such budgets and projections.

 

 

(k)          Other Information. With reasonable promptness, OWW
shall deliver to Travelport such additional financial and other information and
data with respect to members of the OWW Affiliated Group and their business,
properties, financial position, results of operations and prospects as from
time to time may be reasonably requested by Travelport. Travelport shall have
the right to request financial information of the type covered in Sections 4.2(c)–(f) inclusive,
on a more expedited time frame upon no less than five Business Days prior
written notice. Such requests will be made only to the extent such information
is applicable to one or more members of the Travelport Affiliated Group.

 

(l)             Earnings Releases. Travelport agrees that, unless
required by law, rule or regulation or unless OWW shall have consented
thereto, no member of the Travelport Affiliated Group will publicly release any
quarterly, annual or other financial information of the OWW Affiliated Group (“OWW
Information”) delivered to Travelport pursuant to this Section 4.2
prior to the time that Travelport publicly releases financial information of
Travelport for the relevant period. OWW and Travelport will consult on the
timing of their annual and quarterly earnings releases and will give each other
an opportunity to review the information therein relating to the OWW Affiliated
Group and to comment thereon. In the event that any member of the Travelport
Affiliated Group is required by law to publicly release such OWW Information
prior to the public release of Travelport’s financial information, Travelport
will give OWW notice of such release of OWW Information as soon as practicable
but no later than two days prior to such release of OWW Information.

 

(m)                               Cooperation on Public Filings. Each of Travelport and OWW shall
cooperate fully with each other to the extent reasonably requested by the other
in the preparation of any of their respective public earnings releases,
quarterly reports on Form 10-Q, any Annual Reports to Shareholders, Annual
Reports on Form 10-K, any Current Reports on Form 8-K and any other
proxy, information and registration statements, reports, notices, prospectuses
and any other filings made by them or any of their respective Subsidiaries with
the SEC, any national securities exchange or otherwise made publicly available
(collectively, “Public Filings”). Each of Travelport and OWW agree to
provide to each other all information that the other reasonably requests in
connection with any such Public Filing or that, in the judgment of their
respective General Counsels, is required to be disclosed therein under any law,
rule or regulation. In this respect, Travelport or OWW, as the case may
be, will provide all required financial information with respect to it and its
consolidated Subsidiaries to the other Party’s auditors and management in a
sufficient and reasonable time and in sufficient detail to permit such auditors
to take all steps and perform all review necessary to provide sufficient
assistance to such auditors with respect to information to be included or
contained in such Public Filing, such assistance to such auditors to be in
conformity with current and past practices. All such information shall be
provided by Travelport or OWW, as the case may be, in a timely manner to enable
OWW or Travelport, as the case may be, to prepare, print and release such
Public Filings on such date as Travelport or OWW, as the case may be, shall
determine. If and to the extent requested by Travelport or OWW, the other Party
shall diligently review all drafts of such Public Filings and prepare in a
diligent and timely fashion any portion of such Public Filing pertaining to
such other Party or its Subsidiaries. Prior to any printing or public release
of any Public Filing, an appropriate executive officer of Travelport or  OWW, as the case may be, shall, if requested
by the other Party, certify that the information relating to Travelport or OWW,
as the case may be, in such Public Filing is accurate, true and correct in all
material respects. Unless required by law, rule or 

 

regulation,
Travelport or OWW, as the case may be, shall not publicly release any financial
or other information which conflicts with the information with respect to the
other Party that is included in any Public Filing without the prior consent of OWW
or Travelport, as the case may be.

 

(n)         OWW Selection of Auditor. Subject to the requirements of all
applicable laws, rules and regulations, (i) if OWW is to submit to a
vote of its stockholders the election, approval or ratification of the
selection of its firm of independent certified public accountants pursuant to Schedule 14A
under the Exchange Act, OWW shall so submit to such a vote such accounting firm
as is designated by Travelport and (ii) if OWW does not so submit a firm
of accountants to such a vote, OWW shall cause its independent certified public
accountants to be such accounting firm as is designated, from time to time, by
Travelport.

 

(o)         Coordination of Auditors’ Opinions. OWW will use its best efforts to
enable its independent certified public accountants (the “OWW Auditors”)
to complete their audit such that they will date their opinion on OWW’s audited
annual financial statements on the same date that Travelport independent
certified public accountants (the “Travelport Auditors”) date their
opinion on any Travelport Affiliated Group member’s preparation of its audited
annual financial statements and its Annual Reports to Shareholders
(collectively the “Travelport Annual Statements”), and to enable
Travelport to meet its timetable for the printing, filing and public
dissemination of the Travelport Annual Statements.

 

(p)         Access to Personnel and Working
Papers. OWW
will authorize the OWW Auditors to make available to the Travelport Auditors
both the personnel who performed or are performing the annual audit of OWW and,
consistent with customary professional practice and courtesy of such auditors
with respect to the furnishing of work papers, work papers related to the
annual audit of OWW, in all cases within a reasonable time after the OWW
Auditors opinion date, so that the Travelport Auditors are able to perform the
procedures they consider necessary to take responsibility for the work of the
OWW Auditors as it relates to the Travelport Auditors’ report on the Travelport
Annual Statements, all within sufficient time to enable Travelport to meet its
timetable for the printing, filing and public dissemination of the Travelport
Annual Statements.

 

(q)         Accounting Estimates and Principles. OWW will give Travelport
reasonable notice of any proposed significant change in accounting estimates or
material changes in accounting principles from those in effect on the date
hereof, including changes that are mandated or required by the SEC, the
Financial Accounting Standards Board or the American Institute of Certified
Public Accountants, that could affect both OWW and Travelport. In this
connection, OWW will consult with Travelport and, if requested by Travelport,
OWW will consult with its independent public accountants with respect thereto. As
to material changes in accounting principles which could affect OWW or
Travelport, OWW will not make any such changes without Travelport’s prior
written consent, including changes that are mandated or required by the SEC,
the Financial Accounting Standards Board or the American Institute of Certified
Public Accountants, if such a change would be sufficiently material to be
required to be disclosed in OWW’s financial statements as filed with the SEC or
otherwise publicly disclosed therein. If Travelport so requests, OWW will be
required to obtain the concurrence of OWW Auditors as to such material change
prior to its implementation.

 

 

(r)            Financial Reporting Systems.             Without Travelport’s prior written consent, no member
of the OWW Affiliated Group shall change any of its financial reporting systems
from Oracle or such other financial reporting system as it has in place on the
date hereof.

 

Section 4.3  Fifty Percent
Threshold. OWW agrees that, during any period in which the members of the
Travelport Affiliated Group beneficially own, in the aggregate, Voting Stock entitled
to fifty percent (50%) or more of the votes entitled to be cast by the then
outstanding Voting Stock, or in which, notwithstanding such percentage, any
member of the Travelport Affiliated Group is required, in accordance with GAAP,
to consolidate OWW’s financial statements with its financial statements, in
addition to the requirement of Section 4.2:

 

(a)          Internal Auditors. OWW shall provide Travelport’s
internal auditors or other representatives of Travelport access to the books
and records of any member of the OWW Affiliated Group so that Travelport may
conduct reasonable audits relating to the financial statements provided by such
member of the OWW Affiliated Group pursuant to Sections 4.2(c)-(g) hereof,
inclusive, as well as to the internal accounting controls and operations of any
member of the OWW Affiliated Group.

 

(b)         Management Certification. OWW’s chief executive officer and chief
financial or accounting officer shall submit a quarterly representation stating
that there is and has been no failure on the part of the OWW or any of its
directors or officers, in their capacities as such, to comply in all material
respects with any provision of the Sarbanes-Oxley Act of 2002 and the rules and
regulations promulgated in connection therewith, including Sections 302 and 906
related to certifications.

 

(c)          Detailed Quarterly Financial
Information.
As soon as practicable, and within five Business Days (or other period as
designated by Travelport) after the end of the first three fiscal quarters in
each fiscal year of OWW, OWW shall deliver to Travelport (i) a detailed
consolidated balance sheet, and consolidated statements of income, cash flow
and shareholders’ equity consistent with Travelport’s present chart of accounts
and reporting (with such changes in such chart of accounts and reporting as may
be reasonably requested by Travelport from time to time) and (ii) statistical
information necessary for inclusion in any Travelport Affiliated Group member’s
quarterly earnings press release, along with appropriate supporting
documentation.

 

(d)         Detailed Annual Financial
Information.
As soon as practicable, and within five Business Days (or other period as
designated by Travelport) after the end of each fiscal year of OWW, OWW shall
deliver to Travelport (i) a detailed consolidated balance sheet, and
consolidated statements of income, cash flow and shareholders’ equity consistent
with Travelport’s present chart of accounts and reporting (with such changes in
such chart of accounts and reporting as may be reasonably requested by Travelport
from time to time) as of and for the full fiscal year and (ii) statistical
information necessary for inclusion in any Travelport Affiliated Group member’s
annual earnings press release, along with appropriate supporting documentation.

 

(e)          Accountants’ Reports. Promptly, but in no event later
than five Business Days following the receipt thereof, OWW shall deliver to Travelport
copies of all reports submitted to any member of the OWW Affiliated Group by its
independent certified public 

 

 

accountants, including,
without limitation, each report submitted to any member of the OWW Affiliated
Group concerning its accounting practices and systems and any comment letter
submitted to management in connection with their annual audit and all responses
by management to such reports and letters.

 

Section 4.4  Attorney
Client Privilege. The provision of any information pursuant to this Article IV
shall not be deemed a waiver of any privilege, including the attorney-client and/or
work-product privileges (each, a “Privilege”), applicable to any such
information. No member of the OWW Affiliated Group shall be required to provide
any information pursuant to this Article IV if such member
reasonably and in good faith concludes that the provision of such information could
serve as a waiver of any Privilege afforded such information.

 

ARTICLE V

 

REGISTRATION
RIGHTS

 

Section 5.1  Piggyback
Registrations.

 

(a)          Right to Piggyback. Whenever OWW proposes to register
any sale of its Common Stock (or securities convertible into or exchangeable or
exercisable for Common Stock) under the Securities Act for its own account or
the account of any securityholder of OWW (other than the IPO, offerings
pursuant to employee benefit plans, or noncash offerings in connection with a
proposed acquisition, exchange offer, recapitalization or similar transaction)
and the registration form to be used may be used for the registration of the
offer and sale of Registrable Securities (a “Piggyback Registration”), OWW
will give prompt written notice to Travelport and to all other holders of
Common Stock having similar registration rights, of its intention to effect
such a registration and, subject to Section 5.1(b) hereof, shall
include in such registration all Registrable Securities with respect to which OWW
has received written request for inclusion therein within 15 days after receipt
of OWW’s notice.

 

(b)         Priority. If a registration pursuant to this
Section 5.1 involves an Underwritten Offering and the managing
underwriter advises OWW in good faith that in its opinion the number of
securities requested to be included in such registration exceeds the number
which can be sold in such offering without having an adverse effect on such
offering, including the price at which such securities can be sold, then OWW will
be required to include in such registration the maximum number of shares that
such underwriter advises can be so sold without such adverse effect, allocated:

 

(i)                                     if such registration was initiated
by OWW, (x) first, to the securities OWW proposes to sell, (y) second, among
the shares of Common Stock requested to be included in such registration by members
of the Travelport Affiliated Group and any other stockholder of OWW owning
shares of Common Stock eligible for registration, pro rata, on the basis of the number of
shares of Common Stock each holder requests be included in such registration,
and (z) third, among other securities, if any, requested and otherwise eligible
to be included in such registration; and

 

 

(ii)                                  if such registration was initiated
by a security holder of OWW, (w) first, among the shares of Common Stock
requested to be included in such registration by such requesting security
holder, (x) second, among the shares of Common Stock requested to be included
in such registration by any member of the Travelport Affiliated Group, (y)
third, among the shares of Common Stock requested to be included in such
registration by any other stockholder of OWW owning shares of Common Stock
eligible for such registration, pro  rata, on the basis of the
number of shares of Common Stock each holder requests be included in such
registration, and (z) fourth, among other securities, if any, requested and
otherwise eligible to be included in such registration (including securities to
be sold for the account of OWW).

 

(c)          Termination of Offering. In the case of a registration
initiated by OWW, nothing contained herein shall prohibit OWW from determining,
at any time, not to file a registration statement or, if filed, to withdraw
such registration or terminate or abandon the registration related thereto,
without prejudice, however, to the rights of the members of the Travelport
Affiliated Group to immediately request a registration pursuant to Section 5.2
hereof.

 

Section 5.2  Requested
Registrations.

 

(a)          Right to Request Registration. At any time after the date hereof,
upon the written request of any member of the Travelport Affiliated Group requesting
that OWW effect the registration under the Securities Act of all or part of the
Registrable Securities (a “Demand Registration”), OWW shall use its best
efforts to effect, as expeditiously as possible, the registration under the
Securities Act of such number of Registrable Securities requested to be so
registered; provided, that OWW shall not be required to file a registration
statement pursuant to this Section 5.2(a), (i) within a period
of six months after the effective date of any other registration statement of OWW
requested under this Section 5.2 or pursuant to which any member of
the Travelport Affiliated Group shall have been given an opportunity to
participate pursuant to Section 5.1 hereof, (ii) relating to
an offering on a delayed or continuous basis pursuant to Rule 415 (or any
successor rule to similar effect) promulgated under the Securities Act if OWW
is not, at the time, eligible to register shares of Common Stock on Form S-3
(or a successor form), or (iii) with respect to any offering that is not
reasonably expected to yield gross proceeds of at least $50 million; provided,
that in the event that the members of the Travelport Affiliated Group,
collectively, do not own at the time of such request such amount of Registrable
Securities of the kind and type being so registered that would be reasonably
expected to yield gross proceeds of at least $50 million, then the restriction
contained in clause (iii) of this Section 5.2(a) shall be
disregarded with respect to such registration.

 

Promptly after
receipt of any such request for Demand Registration, OWW shall give written
notice of such request to all other holders of Common Stock having rights to
have their shares included in such registration and shall, subject to the
provisions of Section 5.2(c) hereof, include in such
registration all such Registrable Securities with respect to which each member
of the Travelport Affiliated Group or such other stockholder has requested to
be so registered.

 

 

(b)         Effective Registration. A registration requested pursuant
to this Section 5.2 shall not be deemed to have been effected (and,
therefore, not requested for purposes of Section 5.2(a) above)
(i) unless the registration statement relating thereto has become
effective under the Securities Act, (ii) if, after it has become effective,
such registration is interfered with by any stop order, injunction or other
order or requirement of the SEC or other governmental agency or court for any
reason other than a misrepresentation or an omission by any member of the
Travelport Affiliated Group and, as a result thereof, the Registrable
Securities requested to be registered cannot be completely distributed in
accordance with the plan of distribution, (iii) if the conditions to
closing specified in the purchase agreement or underwriting agreement entered
into in connection with such registration are not satisfied or waived other than
by reason of some act or omission by any member of the Travelport Affiliated
Group, or (iv) if, pursuant to Section 5.2(c) hereof,
less than all of the Registrable Securities requested be registered were
actually registered and sold.

 

(c)          Priority. If a requested registration
pursuant to this Section 5.2 involves an Underwritten Offering and
the managing underwriter shall advise OWW that in its opinion the number of
securities requested to be included in such registration exceeds the number
which can be sold in such offering without having an adverse effect on such
offering, including the price at which such securities can be sold, then OWW
will be required to include in such registration the maximum number of shares
that such underwriter advises can be so sold without having such adverse effect,
allocated (i) first, to Registrable Securities requested by the member(s)
of the Travelport Affiliated Group to be included in such registration, (ii) second,
among all shares of Common Stock requested to be included in such registration
by any other stockholder of OWW owning shares of Common Stock eligible for such
registration, pro rata on the basis of the number of shares
of Common Stock requested to be included in such registration and (iii) third,
among other securities, if any, requested and otherwise eligible to be included
in such registration (including securities to be sold for the account of OWW).

 

(d)         Preemption of Demand Registration. Notwithstanding the foregoing, if
the Board of Directors of OWW determines in its good faith judgment, (i) after
consultation with a nationally recognized investment banking firm, that there
will be an adverse effect on a then-contemplated public offering of OWW’s
securities, (ii) that the disclosures that would be required to be made by
OWW in connection with such registration would be materially harmful to OWW
because of transactions then being considered by, or other events then
concerning, OWW, or (iii) that registration at the time would require the
inclusion of pro forma or other information, which requirement OWW is
reasonably unable to comply with, then OWW may defer the filing (but not the
preparation) of the registration statement which is required to effect any
registration pursuant to this Section 5.2 for a reasonable period
of time, but not in excess of 90 calendar days (or any longer period agreed to
by the requesting holders of Registrable Securities); provided, that at
all times OWW is in good faith using all reasonable efforts to file the
registration statement as soon as practicable.

 

(e)          Other Registration Rights. OWW shall not grant to any Person
the right, except to employees, directors, agents and consultants of OWW, to
request OWW to register any securities of OWW except such rights as are not
more favorable than the rights granted to the members of the Travelport
Affiliated Group herein, without the written consent of Travelport.

 

 

Section 5.3  Registration
Procedures. If and whenever OWW is required to use its best efforts to
effect or cause the registration of any Registrable Securities under the
Securities Act as provided in this Agreement, OWW shall:

 

(a)          prepare and file with the SEC as
expeditiously as possible but in no event later than 90 days after receipt of a
request for registration with respect to such Registrable Securities, an
automatically effective shelf registration statement on Form S-3, if
available to OWW at such time, or, if not, a registration statement on any form
for which OWW then qualifies or which counsel for OWW shall deem appropriate,
which form shall be available for the sale of the Registrable Securities in
accordance with the intended methods of distribution thereof, and use its best
efforts to cause such registration statement to become effective as soon as
practicable, and to maintain the effectiveness of such form for three years
from the date of its effectiveness; provided, that before filing with
the SEC a registration statement or prospectus or any amendments or supplements
thereto, including any documents incorporated by reference therein, OWW shall
(x) furnish to Travelport and to one counsel selected by Travelport (or by Travelport
and holders of other securities covered by such registration statement, but in
no event to more than one firm of attorneys for all such selling security
holders) copies of all such documents proposed to be filed, which documents
shall be subject to the review of Travelport and such counsel, and (y) notify Travelport
of any stop order issued or threatened by the SEC and take all reasonable actions
required to prevent the entry of such stop order or to remove it if entered;

 

(b)         prepare and file with the SEC such
amendments and supplements to such registration statement and the prospectus
used in connection therewith as may be necessary to keep such registration
statement effective for a period of not less than 180 days or such shorter
period which shall terminate when all Registrable Securities covered by such
registration statement have been sold (but not before the expiration of the
applicable period referred to in Section 4(3) of the Securities Act
and Rule 174, or any successor thereto, thereunder, if applicable), and
comply with the provisions of the Securities Act with respect to the
disposition of all securities covered by such registration statement during
such period in accordance with the intended methods of disposition by the
sellers thereof set forth in such registration statement;

 

(c)          furnish, without charge, to Travelport
and each underwriter, if any, such number of copies of such registration
statement, each amendment and supplement thereto (including one conformed copy
to Travelport and one signed copy to each managing underwriter and in each case
including all exhibits thereto), and the prospectus included in such
registration statement (including each preliminary prospectus), in conformity
with the requirements of the Securities Act, and such other documents as Travelport
may reasonably request to facilitate the disposition of the Registrable
Securities registered thereunder;

 

(d)         use its best efforts to register or
qualify such Registrable Securities covered by such registration statement
under such other securities or blue sky laws of such jurisdictions as the
selling holders, and the managing underwriter, if any, reasonably requests and
do any and all other acts and things which may be reasonably necessary or
advisable to enable the selling holders and each underwriter, if any, to
consummate the disposition in such jurisdictions of the Registrable Securities
registered thereunder; provided, that OWW shall not be required to (i) qualify
generally to do business in any jurisdiction where it would not otherwise be
required to 

 

 

qualify but for this
paragraph (d), (ii) subject itself to taxation in any such jurisdiction or
(iii) consent to general service of process in any such jurisdiction;

 

(e)          immediately notify the managing
underwriter, if any, Travelport and the selling holders at any time when a
prospectus relating thereto is required to be delivered under the Securities
Act, of the happening of any event which comes to OWW’s attention if as a
result of such event the prospectus included in such registration statement
contains an untrue statement of a material fact or omits to state any material
fact required to be stated therein or necessary to make the statements therein
not misleading, and OWW shall promptly prepare and furnish to the selling
holders a supplement or amendment to such prospectus so that as thereafter
delivered, such prospectus shall not contain an untrue statement of a material
fact or omit to state any material fact required to be stated therein or
necessary to make the statements therein not misleading; provided, however,
that if OWW determines in good faith that the disclosure that would be required
to be made by OWW would be materially harmful to OWW because of transactions
then being considered by, or other events then concerning, OWW, or a supplement
or amendment to such prospectus at such time would require the inclusion of pro
forma or other information, which requirement OWW is reasonably unable to
comply with, then OWW may defer, for a reasonable period of time not to exceed
90 days, furnishing to the selling holders a supplement or amendment to such
prospectus; provided further, that at all times OWW is in good faith
using all reasonable efforts to file such amendment as soon as practicable;

 

(f)            use its best efforts to cause all
such securities being registered to be listed on each securities exchange on
which similar securities issued by OWW are then listed, and enter into such
customary agreements including a listing application and indemnification
agreement in customary form, provided, that the applicable listing
requirements are satisfied, and to provide a transfer agent and registrar for
such Registrable Securities covered by such registration statement no later
than the effective date of such registration statement;

 

(g)         make available for inspection by Travelport
and any holder of securities covered by such registration statement, any
underwriter participating in any offering pursuant to such registration
statement, and any attorney, accountant or other agent retained by such Persons
(collectively, the “Inspectors”), all financial and other records,
pertinent corporate documents and properties of the OWW Affiliated Group as
shall be reasonably necessary to enable them to exercise their due diligence
responsibilities, and cause officers, directors and employees of members of the
OWW Affiliated Group to supply all information and respond to all inquiries
reasonably requested by any such Inspector in connection with such registration
statement. Notwithstanding the foregoing, OWW shall have no obligation to
disclose any such records to the Inspectors in the event OWW determines that
such disclosure is reasonable likely to have an adverse effect on OWW’s ability
to assert the existence of an attorney-client privilege with respect thereto;

 

(h)         if requested, use its best efforts
to obtain a “cold comfort” letter from OWW’s independent public accountants in
customary form and covering such matters of the type customarily covered by “cold
comfort” letters;

 

(i)             make available senior management
personnel to participate in, and cause them to cooperate with the underwriters
in connection with, “road show” and other customary 

 

 

marketing activities,
including “one-on-one” meetings with prospective purchasers of the Registrable
Securities;

 

(j)             otherwise use its best efforts to
comply with all applicable rules and regulations of the SEC, and make
available to its security holders, as soon as reasonably practicable, an
earning statement covering a period of at least 12 months, beginning with the
first month after the effective date of the registration statement (as the term
“effective date” is defined in Rule 158(c) under the Securities Act),
which earning statement shall satisfy the provisions of Section 11(a) of
the Securities Act and Rule 158 thereunder; and

 

(k)          if requested to do so by the selling
holders, use its best efforts to create a depositary arrangement whereby
depositary shares representing fractional shares of Registrable Securities will
be issued and to cause to be prepared and to execute customary documentation
with respect to such depositary arrangement and such other documentation that
the selling holders may reasonably request to facilitate the disposition of the
depositary shares created thereunder (including, but not limited to, engaging a
depositary and preparing and executing a depositary agreement).

 

It shall be a
condition precedent to the obligation of OWW to take any action pursuant to
this Agreement in respect of the Registrable Securities which are to be
registered at the request of any member of the Travelport Affiliated Group that
Travelport shall furnish to OWW such information regarding the securities of OWW
held by Travelport and the intended method of disposition thereof as OWW shall
reasonably request and as shall be required in connection with the action taken
by OWW.

 

Travelport
agrees that, unless it obtains the prior consent of the OWW, and OWW agrees
that, unless it obtains the prior consent of Travelport, it will not make any
offer pursuant to this Article V that would constitute an “issuer
free writing prospectus,” as defined in Rule 433 under the Securities Act,
or that would otherwise constitute a “free writing prospectus,” as defined in Rule 405
under the Securities Act, required to be filed with the SEC; provided
that this paragraph shall not restrict either Travelport or OWW from making any
filings required to comply with their respective reporting obligations under
the Exchange Act or the rules and regulations thereunder.

 

Section 5.4  Restriction on
Disposition of Registrable Securities. Travelport agrees that, upon receipt
of any notice from OWW of the happening of any event of the kind described in Section 5.3(e) hereof,
Travelport shall, and shall cause each member of the Travelport Affiliated
Group to, discontinue disposition of Registrable Securities pursuant to the
registration statement covering such Registrable Securities until receipt of
the copies of the supplemented or amended prospectus contemplated by Section 5.3(e) hereof,
or until otherwise notified by OWW, and, if so directed by OWW, Travelport
shall, and shall cause each member of the Travelport Affiliated Group to, deliver
to OWW (at OWW’s expense) all copies (including, without limitation, any and
all drafts), other than permanent file copies, then in their possession, of the
prospectus covering such Registrable Securities at the time of receipt of such
notice. In the event OWW shall give any such notice, the 180-day period
mentioned in Section 5.3(b) hereof shall be extended by the
greater of (x) three months or (y) the number of days during the period from
and including the date of the giving of such notice pursuant to Section 5.3(e)

 

 

hereof to and including the date when the selling holders shall have
received the copies of the supplemented or amended prospectus contemplated by Section 5.3(e) hereof.

 

Section 5.5  Selection of
Underwriters. If any offering pursuant to a registration requested pursuant
to Section 5.2 hereof is to be an Underwritten Offering, Travelport
shall have the right to select a managing underwriter or underwriters to
administer the offering.

 

Section 5.6  Registration
Expenses. OWW shall pay for all costs and expenses with respect to its
compliance with its obligations in connection with a registration hereunder,
including, but not limited to:  (i) all
registration and filing fees, (ii) fees and expenses of compliance with
securities or blue sky laws (including reasonable fees and disbursements of
counsel in connection with blue sky qualifications of the Registrable
Securities), (iii) printing expenses, (iv) internal expenses
(including without limitation, all salaries and expenses of its officers and
employees performing legal or accounting duties), (v) the fees and
expenses incurred in connection with the listing of the Registrable Securities
on any national securities exchange, (vi) the reasonable fees and
disbursements of counsel for OWW and customary fees and expenses for
independent certified public accountants retained by OWW (including the
expenses of any comfort letters or costs associated with the delivery by
independent certified public accountants of a comfort letter or comfort
letters), (vii) the reasonable fees and disbursements of not more than one
firm of attorneys acting as legal counsel for all of the selling stockholders,
collectively, (viii) the fees and expenses of any registrar and transfer
agent or any depositary, (ix) the underwriting fees, discounts and
commissions applicable to any Common Stock sold for the account of OWW and (x)
the cost of preparing all documentation in connection therewith. Except as
otherwise provided in clause (ix) of this Section 5.6, OWW
shall have no obligation to pay any underwriting fees, discounts, commissions
or expenses attributable to the sale of Registrable Securities, including,
without limitation, the fees and expenses of any underwriters and such
underwriters’ counsel.

 

Section 5.7  Conversion of
Other Securities. If any holder of Registrable Securities offers any
options, rights, warrants or other securities issued by it or any other Person
that are offered with, convertible into or exercisable or exchangeable for any
Registrable Securities, the Registrable Securities underlying such options,
rights, warrants or other securities shall be eligible for registration
pursuant to Sections 5.1 and 5.2 hereof.

 

Section 5.8  Rule 144.
If and for so long as OWW is subject to the reporting requirements of the
Exchange Act, OWW shall take such measures and file such information, documents
and reports as shall be required by the SEC as a condition to the availability
of Rule 144 (or any successor provision) under the Securities Act.

 

Section 5.9  Transfer of
Registration Rights.

 

(a)          Any member of the Travelport
Affiliated Group may transfer all or any portion of its rights under this Article V
to any transferee (each, a “Transferee”) of Registrable Securities. Any
transfer of registration rights pursuant to this Section 5.9 shall
be effective upon receipt by OWW of written notice from such member of the
Travelport Affiliated Group stating the name and address of any Transferee and
identifying the amount of Registrable Securities with respect to which the
rights under this Article V (and Article VI hereof) are
being transferred 

 

 

and the nature of the
rights so transferred. In connection with any such transfer, the term “Travelport”
or “member of the Travelport Affiliated Group” as used in this Article V
shall, where appropriate to assign such rights and obligations to such Transferee,
be deemed to refer to the Transferee. Any member of the Travelport Affiliated
Group and such Transferees may exercise the registration rights hereunder in
such proportion as they shall agree among themselves.

 

(b)         After such transfer, each member of
the Travelport Affiliated Group shall retain its rights under this Agreement
with respect to all other Registrable Securities owned by such member of the
Travelport Affiliated Group.

 

(c)          Upon the request of any member of
the Travelport Affiliated Group, OWW shall execute a registration rights
agreement with such Transferee or a proposed Transferee substantially similar
to the applicable sections of this Agreement.

 

ARTICLE VI

 

BUSINESS AND
REGISTRATION STATEMENT INDEMNIFICATION

 

Section 6.1  General Cross
Indemnification.

 

(a)          Travelport agrees to indemnify and
hold harmless each member of the OWW Affiliated Group and each of the officers,
directors, employees and agents of the OWW Affiliated Group against any and all
costs and expenses arising out of third party claims (including, without
limitation, attorneys’ fees, interest, penalties and costs of investigation or
preparation for defense), judgments, fines, losses, claims, damages, liabilities,
demands, assessments and amounts paid in settlement (collectively, “Losses”),
in each case, based on, arising out of, resulting from or in connection with
any claim, action, cause of action, suit, proceeding or investigation, whether
civil, criminal, administrative, investigative or other (collectively, “Actions”),
based on, arising out of, pertaining to or in connection with (i) any
breach by Travelport or any member of the Travelport Affiliated Group of this
Agreement or any Ancillary Agreement, and (ii) the ownership or the
operation of the Assets or properties (other than capital stock of any member
of OWW Affiliated Group), and the operation or conduct of the business of,
including contracts entered into by, the members of the Travelport Affiliated
Group, whether before, on or after the date hereof.

 

(b)         OWW agrees to indemnify and hold
harmless each member of the Travelport Affiliated Group and each of its officers,
directors, employees and agents of each member of the Travelport Affiliated
Group against any and all Losses, in each case, based on, arising out of,
resulting from or in connection with any Actions, based on, arising out of,
pertaining to or in connection with (i) any activities, action or inaction
on the part of any member of the OWW Affiliated Group or any of their officers,
directors, employees, Affiliates acting as such (other than a member of the
Travelport Affiliated Group acting as such), fiduciaries or agents (including
any Losses related to the use, occupation of, or access to/from the Denver Data
Center, or the exercise of any rights granted with respect thereto, or the use
of any of the services or equipment within the Denver Data Center by any member
of the OWW Affiliated Group) (ii) any breach by OWW or any member of the OWW
Affiliated Group of this Agreement or any

 

 

Ancillary Agreement,
and any other acts or omissions arising out of performing such agreements, or
any agreement between OWW and a third party, (iii) the ownership or the
operation of the Assets or properties of, and the operation or conduct of the
business of, including contracts entered into by, any member of the OWW
Affiliated Group, whether before, on or after the date hereof, (iv) any
Keepwell, (v) any breach of any covenant in the debt instruments or
agreements of any member of the Travelport Affiliated Group that results from
any action of any member of the OWW Affiliated Group that was taken without the
prior written consent of Travelport, (vi) any Liability resulting from the
conversion of the Travelport equity and profit interests, (vii) any untrue
statement or alleged untrue statement of a material fact contained in any Public
Filing of any member of the Travelport Affiliated Group, or any omission or
alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, but only with
respect to information, if any, provided by any member of the OWW Affiliated
Group in writing to any member of the Travelport Affiliated Group expressly for
use in such Public Filing, and (viii) third party claims of intellectual
property infringement based on, arising out of, resulting from or in connection
with the Services (as defined in the Transition Services Agreement) provided
under the Transition Services Agreement, unless such infringement is a result
of the willful misconduct of Travelport, acting as Service Provider (as defined
in the Transition Services Agreement).

 

(c)          The indemnity agreement contained in
Sections 6.1(a) and (b) shall be applicable whether or not any
Action or the facts or transactions giving rise to such Action arose prior to,
on or subsequent to the date of this Agreement.

 

Section 6.2  Registration
Statement Indemnification.

 

(a)          OWW agrees to indemnify and hold
harmless each member of the Travelport Affiliated Group, each Person to whom
registration rights shall have been transferred pursuant to Section 5.9
hereof and each Person, if any, who controls any of the foregoing within the
meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act (collectively, the “Registration Indemnitees”) from and
against any and all Losses arising out of or based upon any untrue statement or
alleged untrue statement of a material fact contained in any Registration
Statement or Prospectus, or arising out of or based upon any omission or
alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading, except insofar as
such Losses arise out of or are based upon any untrue statement or omission or
alleged untrue statement or omission which has been made therein or omitted
therefrom in reliance upon and in conformity with (i) information relating
to a Registration Indemnitee furnished in writing to any member of the OWW
Affiliated Group by or on behalf of such Registration Indemnitee expressly for
use in the Registration Statement or Prospectus, and (ii) information
relating to any underwriter furnished in writing to any member of the OWW
Affiliated Group by or on behalf of such underwriter expressly for use in the
Registration Statement or Prospectus.

 

(b)         Each Registration Indemnitee agrees,
severally and not jointly, to indemnify and hold harmless each member of the OWW
Affiliated Group and any of their respective directors or officers who sign any
Registration Statement, and any Person who controls OWW within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act, to the same
extent as the foregoing indemnity from OWW to each Registration Indemnitee, but
only 

 

 

with respect to
information relating to such Registration Indemnitee furnished in writing to any
member of the OWW Affiliated Group by or on behalf of such Registration
Indemnitee expressly for use in any Registration Statement or Prospectus. For
purposes of this Section 6.2(b), any information relating to any
underwriter that is contained in a Registration Statement or Prospectus shall
not be deemed to be information relating to a Registration Indemnitee. If any
Action shall be brought against OWW, any of its directors, any such officer, or
any such controlling Person based on any Registration Statement or Prospectus
and in respect of which indemnity may be sought against a Registration
Indemnitee pursuant to this paragraph (b), such Registration Indemnitee shall
have the rights and duties given to OWW by Section 6.4 hereof
(except that if OWW shall have assumed the defense thereof such Registration
Indemnitee shall not be required to do so, but may employ separate counsel
therein and participate in the defense thereof, but the fees and expenses of
such counsel shall be at such Registration Indemnitee’s expense), and OWW, its
directors, any such officer, and any such controlling Person shall have the
rights and duties given to such Registration Indemnitee by Section 6.4
hereof.

 

Section 6.3  Contribution.

 

(a)          If the indemnification provided for
in this Article VI is unavailable to an indemnified Party under Section 6.2
hereof in respect of any Losses referred to therein, then an indemnifying Party,
in lieu of indemnifying such indemnified Party, shall contribute to the amount
paid or payable by such indemnified Party as a result of such Losses (i) in
such proportion as is appropriate to reflect the relative benefits received by OWW
on the one hand and the applicable Registration Indemnitee on the other hand
from the offering of the securities covered by such Registration Statement and
Prospectus, or (ii) if the allocation provided by clause (i) above is
not permitted by applicable law, in such proportion as is appropriate to
reflect not only the relative benefits referred to in clause (i) above but
also the relative fault of OWW on the one hand and the applicable Registration
Indemnitee on the other in connection with the statements or omissions that
resulted in such Losses, as well as any other relevant equitable considerations.
The relative benefits received by OWW on the one hand and a Registration
Indemnitee on the other shall be deemed to be in the same proportion as the
total net proceeds from the applicable securities offering (before deducting
expenses) received by OWW bear to the total net proceeds from such offering
(before deducting expenses) received by such Registration Indemnitee. The
relative fault of OWW on the one hand and the applicable Registration
Indemnitee on the other hand shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or
the omission or alleged omission to state a material fact relates to
information supplied by OWW on the one hand or by such Registration Indemnitee
on the other hand and the Parties’ relative intent, knowledge, access to
information and opportunity to correct or prevent such statement or omission.

 

(b)         OWW and each Registration Indemnitee
agree that it would not be just and equitable if contribution pursuant to this Section 6.3
were determined by a pro rata allocation or by any other
method of allocation that does not take account of the equitable considerations
referred to in paragraph (a) above. The amount paid or payable by an
indemnified Party as a result of the Losses referred to in paragraph (a) above
shall be deemed to include, subject to the limitations set forth above, any
legal or other expenses reasonably incurred by such indemnified Party in
connection with investigating any claim or defending any such Action. Notwithstanding

 

 

the provisions of
this Section 6.3, a Registration Indemnitee shall not be required
to contribute any amount in excess of the amount by which the proceeds to such
Registration Indemnitee exceeds the amount of any damages which such
Registration Indemnitee has otherwise been required to pay by reason of such
untrue or alleged untrue statement or omission or alleged omission. No Person
guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any Person who was
not guilty of such fraudulent misrepresentation.

 

Section 6.4  Procedure.
If any Action shall be brought against a Registration Indemnitee or any other Person
entitled to indemnification pursuant to this Article VI (collectively
with the Registration Indemnitees, the “Indemnitees”) in respect of
which indemnity may be sought against OWW, such Indemnitee shall promptly
notify OWW, and OWW shall assume the defense thereof, including the employment
of counsel and payment of all fees and expenses. Such Indemnitee shall have the
right to employ separate counsel in any such action, suit or proceeding and to
participate in the defense thereof, but the fees and expenses of such counsel
shall be at the expense of such Person unless (i) OWW has agreed in
writing to pay such fees and expenses, (ii) OWW has failed to assume the
defense and employ counsel, or (iii) the named parties to an Action
(including any impleaded parties) include both an Indemnitee and OWW and such
Indemnitee shall have been advised by its counsel that representation of such
indemnified Party and OWW by the same counsel would be inappropriate under
applicable standards of professional conduct (whether or not such
representation by the same counsel has been proposed) due to actual or
potential differing interests between them (in which case OWW shall not have
the right to assume the defense of such Action on behalf of such Indemnitee). It
is understood, however, that OWW shall, in connection with any one such Action
or separate but substantially similar or related Actions in the same
jurisdiction arising out of the same general allegations or circumstances, be
liable for the reasonable fees and expenses of only one separate firm of
attorneys (in addition to any local counsel) at any time for all such
indemnified Persons not having actual or potential differing interests among
themselves, and that all such fees and expenses shall be reimbursed as they are
incurred. OWW shall not be liable for any settlement of any such Action
effected without its written consent, but if settled with such written consent,
or if there be a final judgment for the plaintiff in any such Action, OWW
agrees to indemnify and hold harmless each Indemnitee, to the extent provided
in the preceding paragraph, from and against any Losses by reason of such
settlement or judgment.

 

Section 6.5  Other Matters.

 

(a)          No indemnifying Party shall, without
the prior written consent of the indemnified Party, effect any settlement of
any pending or threatened Action in respect of which any indemnified Party is
or could have been a Party and indemnity could have been sought hereunder by
such indemnified Party, unless such settlement includes an unconditional
release of such indemnified Party from all liability on claims that are the
subject matter of such Action.

 

(b)         Any Losses for which an indemnified Party
is entitled to indemnification or contribution under this Article VI
shall be paid by the indemnifying Party to the indemnified Party as such Losses
are incurred. The indemnity and contribution agreements contained in this Article VI
shall remain operative and in full force and effect, regardless of (i) any
investigation 

 

 

made by or on behalf
of any Indemnitee, OWW, opits directors or officers, or any Person controlling OWW,
and (ii) any termination of this Agreement.

 

(c)          The Parties hereto shall, and shall
cause their respective Subsidiaries to, cooperate with each other in a
reasonable manner with respect to access to unprivileged information and
similar matters in connection with any Action. The provisions of this Article VI
are for the benefit of, and are intended to create third party beneficiary
rights in favor of, each of the indemnified parties referred to herein.

 

ARTICLE VII

 

OTHER PROVISIONS

 

Section 7.1  Insurance.

 

(a)          As of and after the date hereof,
Travelport shall continue to provide OWW with access to Occurrence Based
Policies of Travelport that include coverage for OWW for periods prior to the
date hereof, and Travelport shall reasonably cooperate with OWW and take
reasonable actions as may be necessary or advisable to assist OWW in submitting
claims for occurrences taking place prior to the date hereof to which such
policies are responsive;  provided,
however, that OWW shall be responsible for any deductibles and associated
expenses, including defense costs, legally due and owing relating to such
claims. Travelport shall have the sole and absolute authority to collect funds
from OWW for all such deductibles and associated expenses, including defense
costs, and to manage any and all claims filed under any policy referred to in
this Section 7.1 or any insurance coverage or self-insurance
relating to prior periods, including prior coverage for Travelport and OWW
referred to in Section 11.3 of the Cendant Separation Agreement. OWW
shall have the right, subject to the foregoing, to consult with Travelport
regarding the management and settlement of any and all OWW claims filed under
any policy referred to in this Section 7.1 and in Section 11.3
of the Cendant Separation Agreement, but OWW acknowledges that all contact with
any insurance company providing such coverage shall be directed exclusively
through Travelport.

 

(b)         OWW acknowledges that under Claims
Made Policies of Travelport, all insurance coverage for OWW for any occurrence,
act, omission or event taking place prior to the date hereof and for any liability
or condition arising after the date hereof shall terminate as of the date
hereof, and that no OWW claims may be brought against Claims Made Policies of
Travelport.

 

Section 7.2  Non-Solicitation;
Non-Hire.

 

(a)          Except as provided in Section 7.2(b),
for a period of two years following the IPO, no member of the Travelport
Affiliated Group, on the one hand, or the OWW Affiliated Group, on the other
hand, will, without the prior written consent of OWW or Travelport,
respectively, either directly or indirectly, on their own behalf or in the
service or on behalf of others, solicit or hire, or attempt to solicit or hire,
any Person employed by any member of the other Affiliated Group (a “Solicitation”)
whose annual base salary plus cash bonus exceeds $150,000 (or its equivalent in
U.S. currencies), excluding any equity-based compensation element of such 

 

bonus (the “Restricted
Employees”), whether or not such employee is a full-time or a temporary
employee of any member of the Travelport Affiliated Group or the OWW Affiliated
Group (as applicable), and whether or not such employment is pursuant to
written agreement; provided, that the foregoing will not (i) prevent
either Party or their Affiliated Group from soliciting or hiring any such Person
after the termination of such employee’s employment by their respective
employer unless specifically prohibited by such employee’s separation
agreement, if any, with any member of the Travelport Affiliated Group or the OWW
Affiliated Group (as applicable), or (ii) prohibit either Party from
placing public advertisements or conducting any other form of general
solicitation which is not specifically targeted towards the Restricted
Employees; provided, further, that a general solicitation conducted by an
employment agency on behalf of one of the Parties which inadvertently contacts
a Restricted Employee will not trigger this Section 7.2, so long as
such Restricted Employee is not hired by the Party conducting the general
solicitation for employees of their Affiliated Group.

 

(b)         However, in the case of any
Solicitation of (i) Donvand Limited and its Subsidiaries and (ii) Octopus
Travel Group Limited and its Subsidiaries, the period during which such
entities are prohibited from any Solicitation shall be two years following the
IPO and the term “Restricted Employee” shall include all employees of such
entities regardless of the amount of their annual base salary.

 

Section 7.3  Form S-8.
To the extent necessary to enable the unrestricted transfer of the applicable
shares of OWW’s Common Stock, upon consummation of the IPO, OWW shall file and
cause to remain effective a registration statement on Form S-8 (or such
other applicable form) with the SEC to register the shares of OWW’s Common
Stock that may be acquired by employees of Travelport pursuant to Travelport’s
employee stock or option plans.

 

Section 7.4  Regulatory
Approvals. To the extent that any regulatory or other approvals shall be
necessary to effect and perform any of the provisions of this Agreement, the Parties
hereto shall use their best efforts to obtain such approvals prior to the date
upon which not obtaining such approvals would result in a default of such Party’s
obligations hereunder. If such approvals have not been obtained by such date,
then each Party hereto shall not be deemed to be in default of its obligations
hereunder so long as such Party is in good faith diligently using their best
efforts to obtain such approvals as soon as practicable. To the extent that any
such regulatory approval is not obtained within a reasonable period of time
after such date, Travelport and OWW shall in good faith use their best efforts
to find and effect an alternative means to achieve the same or substantially
the same result as that contemplated by such provision.

 

Section 7.5  Charter
Provision. OWW shall comply with, and shall cause each of its present and
future direct and indirect Subsidiaries to take any and all actions necessary
to ensure continued compliance by each such member of the OWW Affiliated Group
with, the terms and provisions of the Charter. OWW shall notify Travelport in
writing as soon as possible after becoming aware of any act or activity taken
or proposed to be taken by any member of the OWW Affiliated Group which
resulted or would result in non-compliance with the Charter and shall take or
refrain from taking all such actions as Travelport shall in its sole discretion
determine necessary or desirable to prevent or remedy any such non-compliance.

 

 

Section 7.6  Access to
Historical Records. Subject to Section 7.12, Travelport and OWW
will retain the right to access the shared or commingled historical records,
including but not limited to, the books, records, and such other records,
files, information and/or data, or portions thereof (the “Records”)
related to the historical corporate association of OWW with Travelport stored at
the facilities of Iron Mountain Inc. The ownership of any Records relating
solely to either Party shall be transferred to such Party to the extent not
already owned by such Party. Notwithstanding anything in this Agreement to the
contrary, the retention of and access to Records related to the tax matters of OWW
will be governed exclusively by the Tax Sharing Agreement. The provision of any
Records shall not be deemed a waiver of any Privilege and the Parties shall use
reasonable efforts to maintain and protect such Privileges with reasonable
prior notice and in consultation with the other Parties.

 

Section 7.7  Records
Stemming from Affiliate Relationship. For a period of one year following
the Trigger Date, subject to an extension (a) of up to five years upon the
demonstration of a legal or regulatory requirement for such extension by the
requesting Party or (b) for any longer period required under the Cendant
Separation Agreement, Travelport and OWW will retain the right to access such
other records which exist resulting from Travelport’s and OWW’s relationship as
affiliates. Upon reasonable notice and at each Party’s own expense, Travelport
(and its authorized representatives) and OWW (and its authorized
representatives) will be afforded access to such records at reasonable times
and during normal business hours and each Party (and its authorized
representatives) will be permitted, at its own expense, to make abstracts from,
or copies of, any such records; provided, access to such records may be
denied if (i) Travelport or OWW, as the case may be, cannot demonstrate a
legitimate business need, for the one year period following the Trigger Date,
or a legal or regulatory requirement, for the extension period described above,
for such access to the records, (ii) the information contained in the
records is subject to any applicable confidentiality commitment to a third
party, (iii) a bona fide competitive reason exists to deny such access, (iv) the
records are to be used for the initiation of, or as part of, a suit or claim
against the other Party, (v) Travelport or OWW, as the case may be,  reasonably and in good faith concludes that such
access would serve as a waiver of any Privilege afforded to such record, and (vi) such
access will unreasonably disrupt the normal operations of Travelport or OWW, as
the case may be. Any Records or information provided by or on behalf of or made
available by or on behalf of the other Party hereto pursuant to this Article VII
shall be on an “as is,” “where is” basis and neither Party is making any
representation or warranty with respect to such records or the completeness
thereof.

 

Section 7.8  Litigation and
Settlement Cooperation.

 

(a)          With respect to any claim or demand
made against any member of either the Travelport Affiliated Group or the OWW
Affiliated Group (each, a “Third Party Claim”) that implicates at least
one member of each of the Travelport Affiliated Group and the OWW Affiliated
Group in a material fashion due to the allocation of Losses, responsibilities
for management of defense and related indemnities pursuant to this Agreement,
the Parties agree to use reasonable best efforts to cooperate fully and
maintain a joint defense (in a manner that will preserve for the applicable parties
the attorney-client privilege, joint defense or other privilege with respect
thereto). The Party that is not responsible for managing the defense of such
Third Party Claims shall, upon reasonable request, be consulted with respect to
significant matters 

 

 

relating thereto and
may, if necessary or helpful, retain counsel to assist in the defense of such
claims.

 

(b)         Travelport and OWW agree that at all
times henceforth, if an action is commenced by a third party with respect to
which any member of either the Travelport Affiliated Group or the OWW Affiliated
Group is a nominal defendant and/or such action is otherwise not a Loss allocated
to any such Party under this Agreement, then such member of the Travelport Affiliated
Group or the OWW Affiliated Group, as the case may be, shall use commercially
reasonable efforts to cause such nominal defendant to be removed from such action.

 

Section 7.9  Cendant Transition Services Agreement.
To the extent that Travelport is obligated to pay to Avis Budget, Realogy or
Wyndham any amounts pursuant to Section 1.16 of the Cendant Transition
Services Agreement, OWW shall pay to Travelport % of the amount actually
paid by Travelport to each of Avis Budget, Realogy and Wyndham as soon as
practicable after such payment is made and notice of such payment is provided
to OWW.

 

Section 7.10  Cendant Separation Agreement. Notwithstanding
anything in Section 7.6 or Section 7.7 to the contrary,
each Party shall, and shall cause its Affiliates to, comply with all provisions
of the Cendant Separation Agreement relating to Information (for purposes of
this Section 7.10 only, as defined in the Cendant Separation
Agreement), and permit access to Information in accordance with the Cendant Separation
Agreement.

 

Section 7.11  Corporate Names and Other Parties’
Trademarks. 

 

Except
as otherwise specifically provided in the Master License Agreement, as soon as
reasonably practicable after the Trigger Date but in any event within six (6) months
thereafter:

 

(a)          OWW and the members of its
Affiliated Group shall cease to make any use of any names or Trademarks that
include the (A) Trademarks of Travelport, Travelport’s Affiliated Group,
Realogy, Wyndham, “Cendant” or “Cendant Corporation” and (B) any names or
Trademarks related thereto including any names or Trademarks confusingly
similar thereto or dilutive thereof (the “Non-OWW Marks”); provided,
however, that the foregoing shall not prohibit OWW or any member of OWW’s
Affiliated Group from making use of any Non-OWW Mark in a manner that would
constitute “fair use” under applicable law if any unaffiliated third party made
such use or would otherwise be legally permissible for any unaffiliated third
party without the consent of the party owning such Non-OWW Mark. In furtherance
of the foregoing, as soon as practicable but in no event later than six (6) months
following the Trigger Date, OWW and the members of OWW’s Affiliated Group shall
remove, strike over or otherwise obliterate all Non-OWW Marks from all of such Party’s
and its Affiliated Group’s Assets and other materials, including any vehicles,
business cards, schedules, stationery, packaging materials, displays, signs,
promotional materials, manuals, forms, websites, email, computer software and other
materials and systems. Any use by OWW or any member of OWW’s Affiliated Group
of any of the Non-OWW Marks as permitted in this Section 7.11(a) is
subject to their compliance with the quality control requirements and
guidelines in effect for the Non-OWW Marks as of the Trigger Date.

 

 

(b)         Travelport and the members of its
Affiliated Group shall cease to make any use of any names or Trademarks that
include the (A) Trademarks of OWW or OWW’s Affiliated Group and (B) any
names or Trademarks related thereto including any names or Trademarks
confusingly similar thereto or dilutive thereof (the “OWW Marks”); provided,
however, that the foregoing shall not prohibit Travelport or any member of
Travelport’s Affiliated Group from making use of any OWW Mark in a manner that
would constitute “fair use” under applicable law if any unaffiliated third
party made such use or would otherwise be legally permissible for any
unaffiliated third party without the consent of the party owning such OWW Mark.
In furtherance of the foregoing, as soon as practicable but in no event later
than six (6) months following the Trigger Date, Travelport and the members
of Travelport’s Affiliated Group shall strike over or otherwise obliterate all
OWW Marks from all of such Party’s and its Affiliated Group’s Assets and other
materials, including any vehicles, business cards, schedules, stationery,
packaging materials, displays, signs, promotional materials, manuals, forms,
websites, email, computer software and other materials and systems. Any use by
Travelport or any member of Travelport’s Affiliated Group of any of the OWW
Marks as permitted in this Section 7.11(b) is subject to their
compliance with the quality control requirements and guidelines in effect for
the OWW Marks as of the Trigger Date.

 

Section 7.12  Information.

 

(a)          Travelport and OWW each acknowledges
that the Records and other information and/or data, or portions thereof in its
or in a member of its Affiliated Group’s possession, custody or control as of
the Trigger Date may include Information owned by the other Party or a member
of the other Party’s Affiliated Group and not related to (i) such Party or
its business or (ii) the historical corporate association of OWW (the “Information”).

 

(b)         Notwithstanding such possession,
custody or control, such Information specified in Section 7.12(a) shall
remain the property of such other Party or member of such other Party’s
Affiliated Group, subject to Section 7.6. Each Party agrees,
subject to legal holds and other legal requirements and obligations, (i) that
such Information is to be treated as Confidential Information of the Party to
which it relates and (ii) subject to the Cendant Separation Agreement and
the Transition Services Agreement, to use commercially reasonable efforts within
a reasonable time to, where reasonably practical to do so without significant
effort, (1) purge such Information from its databases, files and other
systems and not retain any copy of such Information (including, if applicable,
by transferring such Information to the party to which such Information
belongs), or (2) if such purging is not practicable, to encrypt or
otherwise make unreadable or inaccessible such Information.

 

Section 7.13  Credit Agreement; Indentures. So long
as OWW is a restricted subsidiary under the Credit Agreement or either of the
Indentures, if OWW takes any action that requires any member of the Travelport
Affiliated Group to repay or repurchase any of its outstanding indebtedness
under the Credit Agreement or the Indentures, OWW shall, within the period
required by the Credit Agreement or the Indentures, as applicable, pay to Travelport
an amount in immediately available cash that will permit Travelport to repay or
repurchase such outstanding indebtedness, as required by the Credit Agreement
and the Indentures, as applicable.

 

 

ARTICLE VIII

 

EMPLOYEE BENEFITS

 

Section 8.1  Employee Benefits. On or subsequent to
the date hereof, OWW hereby agrees to adopt the 2007 Equity and Incentive Plan
previously adopted on its behalf by Travelport prior to the date hereof.

 

ARTICLE IX

 

DISPUTE RESOLUTION

 

Section 9.1  Negotiation. In the event of a
controversy, dispute or claim arising out of, in connection with, or in
relation to the interpretation, performance, nonperformance, validity or breach
of this Agreement or otherwise arising out of, or in any way related to this
Agreement or the Transactions, including any claim based on contract, tort,
statute or constitution (but excluding any controversy, dispute or claim
arising out of any contract relating to the use or lease of real property if
any third party is a necessary party to such controversy, dispute or claim)
(collectively, “Agreement Disputes”), the general counsels of OWW and
Travelport and/or such other executive officer designated by the relevant Party
shall negotiate for a reasonable period of time to settle such Agreement
Dispute; provided, that such reasonable period shall not, unless
otherwise agreed by the relevant Parties in writing, exceed thirty (30) days
from the time of receipt by any such Party of written notice of such Agreement
Dispute (“Dispute Notice”); provided, further, that in the event
of any arbitration in accordance with Section 9.2 hereof, the
relevant parties shall not assert the defenses of statute of limitations and
laches arising during the period beginning after the date of receipt of the
Dispute Notice, and any contractual time period or deadline under this
Agreement to which such Agreement Dispute relates occurring after the Dispute
Notice is received shall not be deemed to have passed until such Agreement
Dispute has been resolved.

 

Section 9.2  Arbitration.
If the Agreement Dispute has not been resolved for any reason after thirty (30)
days have elapsed from the receipt by a Party thereto of a Dispute Notice, such
Agreement Dispute shall be determined, at the request of any relevant Party, by
arbitration conducted in New York City, before and in accordance with the
then-existing Commercial Arbitration Rules of the American Arbitration
Association (“AAA”), except as modified herein (the “Rules”).
There shall be three arbitrators. Each Party shall appoint one arbitrator
within twenty (20) days of receipt by respondent of a copy of the demand for
arbitration. The two Party-appointed arbitrators shall have twenty (20) days
from the appointment of the second arbitrator to agree on a third arbitrator
who shall chair the arbitral tribunal. Any arbitrator not timely appointed by
the parties shall be appointed by the AAA in accordance with the listing,
ranking and striking method in the Rules, and in any such procedure, each Party
shall be given a limited number of strikes, excluding strikes for cause. Any
controversy concerning whether an Agreement Dispute is an arbitrable Agreement
Dispute, whether arbitration has been waived, whether an assignee of this
Agreement is bound to arbitrate, or as to the interpretation of enforceability
of this Article VIII shall be determined by the arbitrators. In
resolving any Agreement Dispute, the parties intend that the arbitrators shall
apply the substantive Laws of the State of New York, without regard to any
choice of law principles thereof that would mandate 

 

 

the application of the laws of another jurisdiction. The parties intend
that the provisions to arbitrate set forth herein be valid, enforceable and
irrevocable, and any award rendered by the arbitrators shall be final and
binding on the parties. The parties agree to comply and cause the members of
their applicable group to comply with any award made in any such arbitration
proceedings and agree to enforcement of or entry of judgment upon such award,
in any court of competent jurisdiction, including (a) the Supreme Court of
the State of New York, New York County, or (b) the United States District
Court for the Southern District of New York. The arbitrators shall be entitled,
if appropriate, to award any remedy in such proceedings, including monetary
damages, specific performance and all other forms of legal and equitable
relief; provided, however, the arbitrators shall not be entitled to
award punitive, exemplary, treble or any other form of non-compensatory damages
unless in connection with indemnification for a Third Party Claim (and in such
a case, only to the extent awarded in such Third Party Claim). Without limiting
the provisions of the Rules, unless otherwise agreed in writing by or among the
relevant parties or permitted by this Agreement, the relevant parties shall
keep, and shall cause the members of their applicable group to keep,
confidential all matters relating to the arbitration or the award, and any
negotiations, conferences and discussions pursuant to this Article VIII
shall be treated as compromise and settlement negotiations; provided,
that such matters may be disclosed (i) to the extent reasonably necessary
in any proceeding brought to enforce the award or for entry of a judgment upon
the award and (ii) to the extent otherwise required by Law or stock
exchange. Nothing said or disclosed, nor any document produced, in the course
of any negotiations, conferences and discussions that is not otherwise
independently discoverable shall be offered or received as evidence or used for
impeachment or for any other purpose in any current or future arbitration.
Nothing contained herein is intended to or shall be construed to prevent either
Party from applying to any court of competent jurisdiction for interim measures
or other provisional relief in connection with the subject matter of any
Agreement Disputes. Without prejudice to such provisional remedies as may be
available under the jurisdiction of a court, the arbitral tribunal shall have
full authority to grant provisional remedies and to direct the parties to
request that any court modify or vacate any temporary or preliminary relief
issued by such court, and to award damages for the failure of either Party to
respect the arbitral tribunal’s orders to that effect.

 

Section 9.3  Confidentiality
Arbitration Proceedings. Except to the extent necessary in connection with
arbitration of any Dispute under this Agreement, a court challenge to the
arbitration contemplated by Section 9.1 hereof or for enforcement
of an arbitral award, information concerning (i) the existence of an
arbitration pursuant to Section 9.1 hereof, (ii) any
documentary or other evidence given by a Party or a witness in the arbitration and
(iii) the arbitration award may not be disclosed by the tribunal
administrator, the arbitrators, either Party or its counsel to any Person or
entity not connected with the proceeding unless required by law or by a court
or competent regulatory body, and then only to the extent of disclosing what is
legally required. A Party filing any document arising out of or relating to any
arbitration in court shall seek from the court confidential treatment for such
document.

 

 

ARTICLE X

 

MISCELLANEOUS

 

Section 10.1  Notices. All
notices and other communications provided for hereunder shall be dated and in
writing and shall be deemed to have been given (a) when delivered, if
delivered personally, sent by confirmed telecopy or sent by registered or
certified mail, return receipt requested, postage prepaid, (b) on the next
Business Day if sent by overnight courier and (c) when received if
delivered otherwise. Such notices shall be delivered to the address set forth
below, or to such other address as a Party shall have furnished to the other Party
in accordance with this Section.

 

If to Travelport or any other member of the
Travelport Affiliated Group, to:

 

Eric J. Bock

Executive Vice President and General Counsel

Travelport Limited

400 Interpace Parkway, Bldg. A

Parsippany, NJ 07054

Phone: (973) 939-1000

Fax: (973) 939-1199

 

If to OWW or any other member of the OWW
Affiliated Group, to:

 

General Counsel

Orbitz Worldwide, Inc.

500 W. Madison St., Suite 1000

Chicago, IL 60661

Phone: (312)
894-5000

Facsimile:
(312) 894-4855

 

Section 10.2  Binding Nature
of Agreement. This Agreement shall be binding upon and inure to the benefit
of and be enforceable by the parties hereto or their successors in interest,
except as expressly otherwise provided herein. If the outstanding Common Stock
is converted into or exchanged or substituted for other securities issued by
any other Person, as a condition to the effectiveness of the merger,
consolidation, reclassification, share exchange or other transaction pursuant
to which such conversion, exchange, substitution or other transaction takes
place, such other Person shall automatically become bound hereby with respect
to such other securities constituting Registrable Securities and, if requested
by Travelport or a permitted Transferee, shall further evidence such obligation
by executing and delivering to Travelport and such Transferee a written
agreement to such effect in form and substance satisfactory to Travelport.

 

Section 10.3  Descriptive
Headings. The descriptive headings of the several articles and sections of
this Agreement are inserted for reference only and shall not limit or otherwise
affect the meaning hereof.

 

Section 10.4  Remedies. Without
limiting the rights of each Party hereto to pursue any and all other legal and
equitable rights available to such Party for the other parties’ failure to
perform their obligations under this Agreement, the parties hereto acknowledge
and agree that the remedy at law for any failure to perform their obligations hereunder
would be 

 

 

inadequate and that each of them, respectively, shall be entitled to
specific performance, injunctive relief or other equitable remedies in the
event of any such failure. Without limiting the generality of the foregoing, OWW
acknowledges and agrees that (a) its covenants and obligations hereunder
are special, unique and relate to matters of extraordinary importance to Travelport,
that in the event OWW fails to perform, observe or discharge any of its
obligations under this agreement, Travelport will be irreparably harmed and
that no remedy at law will provide adequate relief to Travelport and (b) Travelport
shall be entitled to a temporary restraining order and temporary and permanent
injunctive and other equitable relief in case of any failure by OWW to perform,
observe or discharge any of its covenants or obligations hereunder and without
the necessity of proving actual damages. The remedies provided herein shall be
cumulative and shall not preclude assertion by either Party hereto of any other
rights or the seeking of any other remedies, either legal or equitable, against
the other Party hereto.

 

Section 10.5  Governing Law.
This Agreement shall be construed and enforced in accordance with, and the
rights and duties of the parties shall be governed by, the laws of the State of
New York without regard to the principles of conflicts of law other than Section 5-1401
of the General Obligations Law of the State of New York.

 

Section 10.6  Counterparts.
This Agreement may be executed in one or more counterparts, each of which shall
be deemed an original, but both of which together shall constitute one and the
same instrument.

 

Section 10.7  Severability.
In the event that any one or more of the provisions contained herein, or the
application thereof in any circumstances, is held invalid, illegal or
unenforceable in any respect for any reason, the validity, legality and
enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be in any way impaired thereby,
it being intended that all of the rights and privileges of the parties hereto
shall be enforceable to the fullest extent permitted by law. To the extent that
any such provision is so held to be invalid, illegal or unenforceable, Travelport
and OWW shall in good faith use their best efforts to find and effect an
alternative means to achieve the same or substantially the same result as that
contemplated by such provision.

 

Section 10.8  Confidential
Information.

 

(a)          Notwithstanding any termination of
this Agreement, for a period of five (5) years from the date hereof the
Parties shall hold, and shall cause each of their respective Subsidiaries to
hold, and shall each cause their respective officers, employees, agents,
consultants and advisors to hold, in strict confidence, and not to disclose or
release or use, without the prior written consent of the other Party, any and
all Confidential Information (as defined herein) concerning the other Party; provided,
that the Parties may disclose, or may permit disclosure of, Confidential
Information (i) to their respective auditors, attorneys, financial
advisors, bankers and other appropriate consultants and advisors who have a
need to know such information and are informed of their obligation to hold such
information confidential to the same extent as is applicable to the Parties and
in respect of whose failure to comply with such obligations, the applicable
Party will be responsible, (ii) if the Parties or any of their respective
Subsidiaries are required or compelled to disclose any such Confidential
Information by judicial or administrative process or by other requirements of
law or stock exchange rule, (iii) as required 

 

 

in connection with
any legal or other proceeding between the Parties, (iv) as necessary in
order to permit a Party or its Affiliates to prepare and disclose their financial
statements, tax returns or other required disclosures, (v) in connection
with arbitration of any arbitration pursuant to Section 9.3, (vi) if
such information otherwise becomes generally available to the public (other
than through the Party which is holding such Confidential Information in
confidence) or (vii) information relating to or disclosed in the IPO S-1. Notwithstanding
the foregoing, in the event that any demand or request for disclosure of
Confidential Information is made pursuant to clause (ii) above, each
Party, as applicable, shall promptly notify the other of the existence of such
request or demand and shall provide the other a reasonable opportunity to seek
an appropriate protective order or other remedy, which such Party will
cooperate in obtaining. In the event that such appropriate protective order or
other remedy is not obtained, the Party whose Confidential Information is
required to be disclosed shall or shall cause the other Party to furnish, or
cause to be furnished, only that portion of the Confidential Information that
is legally required to be disclosed and shall take commercially reasonable
steps to ensure that confidential treatment is accorded such information.

 

(b)         Notwithstanding anything to the
contrary set forth herein, (i) the Parties shall be deemed to have
satisfied their obligations hereunder with respect to Confidential Information
if they exercise the same degree of care (but no less than a reasonable degree
of care) as they take to preserve confidentiality for their own similar
information and (ii) confidentiality obligations provided for in any
agreement between each Party or its Subsidiaries and their respective employees
shall remain in full force and effect. Notwithstanding anything to the contrary
set forth herein, Confidential Information of either Party rightfully in the
possession of and used by the other Party in the operation of its business as
of the date hereof may continue to be used by such Party in possession of the
Confidential Information in and only in the operation of such business; provided,
that such use is not competitive in nature (except as permitted or provided to
the contrary in the Ancillary Agreements, the Continuing Agreements or any
other agreements among the Parties or their Affiliates), and may be used only
so long as the Confidential Information is maintained in confidence and not
disclosed in violation of Section 10.8(a), except that Confidential
Information may be disclosed to third parties other than those listed in Section 10.8(a),
provided that such disclosure to such other third parties and any
associated use of such information must be pursuant to a written agreement
containing confidentiality obligations at least as protective of the Parties’
rights to Confidential Information as those contained in this Agreement. Such
continued right to use may not be transferred (directly or indirectly) to any
third party without the prior written consent of the applicable Party, except
pursuant to Section 10.11.

 

(c)          Each Party acknowledges that it and
the other members of their respective Affiliated Groups may have in their
possession confidential or proprietary information of third parties that was
received under confidentiality or non-disclosure agreements with such third
party prior to the date hereof. Each Party will hold, and will cause the other
members of their respective Affiliated Groups and their respective
representatives to hold, in strict confidence the confidential and proprietary
information of third parties to which they or any other member of their
respective Affiliated Groups has access, in accordance with the terms of any
agreements entered into prior to the date hereof between either Party or any
other member of their respective Affiliated Groups and such third parties.

 

 

(d)         Notwithstanding anything to the
contrary in this Section 10.8, information that is subject to provisions
contained in any other agreement between the Parties (or members of their
respective Affiliated Groups) shall be governed by the provisions of such other
agreement rather than this Section 10.8.

 

Section 10.9  Amendment and
Modification. Subject to applicable law, this Agreement may be amended,
modified or supplemented only by written agreement executed by the parties
hereto.

 

Section 10.10  Entire
Agreement. This Agreement, including any schedules or exhibits annexed
hereto, the Ancillary Agreements and the Continuing Agreements embody the
entire agreement and understanding of the parties hereto in respect of the Transactions,
and shall supersede all previous negotiations, commitments and writings with
respect to such subject matter. There are no restrictions, promises,
representations, warranties, covenants or undertakings, other than those
expressly set forth or referred to herein. In the event of any inconsistency
between this Agreement and any schedule hereto, the schedule shall
prevail. In the event and to the extent that there shall be a conflict between
the provisions of this Agreement and the provisions of any Ancillary Agreement
or Continuing Agreement, such Ancillary Agreement or Continuing Agreement shall
control, except if otherwise provided therein.

 

Section 10.11  Assignment.

 

(a)          Except as otherwise provided for in
this Agreement, and subject to Section 10.11(b), neither this
Agreement nor any of the rights, interests or obligations of either Party
hereto may be assigned by such Party without the prior written consent of the
other Party; provided, however, that all or part of this Agreement may be
assigned by Travelport to other members of the Travelport Affiliated Group
without the prior consent of OWW.

 

(b)         Notwithstanding Section 10.11(a) or
anything else in this Agreement, Travelport may assign (in whole or in part) the
rights, interests or obligations provided for herein in connection with a
merger transaction or the sale by Travelport of all or substantially all of its
Assets or other change of control; provided, that the surviving entity of
such merger or the transferee of such Assets shall agree in writing, reasonably
satisfactory to OWW, to be bound by the terms of this Agreement as if named as
a “Party” hereto.

 

(c)          Any assignment or other disposition
in violation of this Section 10.11 shall be void. Nothing in this Section 10.11
shall affect the ability of either Party to terminate this Agreement.

 

Section 10.12  Recapitalization,
Dilution Adjustments, etc. In the event that any capital stock or other
securities are issued in respect of, in exchange for, or in substitution of,
any shares of Common Stock by reason of any reorganization, recapitalization,
reclassification, merger, consolidation, spin-off, partial or complete
liquidation, stock dividend, split-up, sale of Assets, distribution to
stockholders or combination of the shares of Common Stock then, in each such
case, appropriate adjustments shall be made so as to fairly and equitably
preserve, as far as practicable, the original rights and obligations of the Parties
under this Agreement.

 

 

Section 10.13  Other
Agreements. In connection with the execution and delivery of this
Agreement, the agreements listed on Schedule 2.5 and Schedule 10.13
hereto describe all of the agreements, identified as of the date hereof,
between members of the Travelport Affiliated Group and the OWW Affiliated Group
in effect as of the date hereof. The parties hereto agree to review such Continuing
Agreements and Ancillary Agreements, review and identify any other relevant intercompany
agreements and to cooperate to take such further action as may be necessary for
the termination, alteration or amendment of such agreements in order for such
agreements to be consistent with, and to provide for, the implementation of the
Transactions consistent with this Agreement.

 

Section 10.14  Further Actions. Each Party hereto
shall, on notice of request from any other Party hereto, take such further
action not specifically required hereby at the expense of the requesting Party,
as the requesting Party may reasonably request for the implementation of the Transactions.

 

Section 10.15  Disclosure
Schedules. Prior to the execution of this Agreement, the parties hereto
prepared, provided and attached draft disclosures schedules corresponding to
the relevant sections of this Agreement. The parties hereto agree to supplement
and amend such draft disclosure schedules to correct inaccuracies, omissions or
oversights prior to            , 2007  to accomplish the objectives of this
Agreement.

 

Section 10.16  No Third Party
Beneficiaries. Nothing in this Agreement shall convey any rights upon any Person
or entity which is not a Party or a permitted assignee of a Party to this
Agreement.

 

Section 10.17  Drafting of
Language. Each of Travelport and OWW agrees that the drafting of the language
contained in this Agreement was a cooperative effort, that each Party was
equally responsible for such drafting and that it would be inequitable for
either Party to be deemed the “drafter” of any specific language contained
herein pursuant to any judicial doctrine or presumption relating thereto.

 

Section 10.18  No
Circumvention. The Parties agree not to directly or indirectly take any
actions, act in concert with any Person who takes an action, or cause or allow
any member of any such Party’s Affiliated Group to take any actions (including
the failure to take a reasonable action) such that the resulting effect is to
materially undermine the effectiveness of any of the provisions of this
Agreement, any Ancillary Agreement or any Continuing Agreement (including
adversely affecting the rights or ability of either Party to successfully
pursue indemnification, contribution or payment pursuant to Article VI).

 

 

IN WITNESS
HEREOF, the parties have caused this Separation Agreement to be executed and
delivered as of the date first above written.

 

 

	
   

  	
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  ORBITZ
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