Document:

EXHIBIT 4.1

 

Execution
Copy

 

SUPPLEMENTAL
INDENTURE

 

 

dated
as of May 17, 2005

 

among

 

EURAMAX
INTERNATIONAL, INC. and

EURAMAX
INTERNATIONAL HOLDINGS B.V.

as
Issuers

 

AMERIMAX
BUILDING PRODUCTS, INC.

AMERIMAX
DIVERSIFIED PRODUCTS, INC.

AMERIMAX
FABRICATED PRODUCTS, INC.

AMERIMAX
FINANCE COMPANY, INC.

AMERIMAX
HOME PRODUCTS, INC.

AMERIMAX
RICHMOND COMPANY

AMERIMAX
UK, INC.

BERGER
BUILDING PRODUCTS, INC. (f/k/a BERGER BROS. COMPANY)

BERGER
HOLDINGS, LTD.

FABRAL
HOLDINGS, INC.

FABRAL,
INC. and

GUTTER
ACQUISITION, INC.

as
Guarantors

 

—and—

 

JPMORGAN
CHASE BANK, N.A. (f/k/a JPMORGAN CHASE BANK),

as
Trustee

 

 

in
respect of

 

8
1/2 % Senior Subordinated Notes due 2011

 

 

                This
SUPPLEMENTAL INDENTURE (the “Supplemental
Indenture”), dated as of May 17, 2005, is by and among Euramax
International, Inc., a Delaware corporation (the “Company”), Euramax
International Holdings B.V., a Dutch registered company (“Euramax B.V.”
and together with the Company, the “Issuers”), Amerimax Building
Products, Inc., a Delaware corporation and successor by merger to both Amerimax
Coated Products, Inc. and Amerimax Laminated Products, Inc. (“ABP”),
Amerimax Diversified Products, Inc., a Delaware corporation (“ADP”),
Amerimax Fabricated Products, Inc., a Delaware corporation (“AFP”), Amerimax
Finance Company, Inc., a Delaware corporation (“AFC”), Amerimax Home
Products, Inc., a Delaware corporation and successor by merger to Walker Metal
Products, Inc. (“AHP”), Amerimax Richmond Company, an Indiana
corporation (“ARC”), Amerimax UK, Inc., a Delaware corporation (“AUK”),
Berger Building Products, Inc. (f/k/a Berger Bros. Company), a Pennsylvania
corporation and successor by merger to Berger Financial Corp. (“BBP”),
Berger Holdings, Ltd., a Pennsylvania corporation (“BHL”), Fabral
Holdings, Inc., a Delaware corporation (“FHI”), Fabral, Inc., a Delaware
corporation and successor by merger to Copper Craft, Inc. (“FI”) and
Gutter Acquisition, Inc., a Delaware corporation (“GAI” and together
with ABP, ADP, AFP, AFC, AHP, ARC, AUK, BBP, BHL, FHI and FI, the “Guarantors”)
and JPMorgan Chase Bank, N.A. (formerly known as JPMorgan Chase Bank), as
trustee (the “Trustee”), under the indenture, dated as of August 6, 2003,
pursuant to which $200,000,000 8 1/2% Senior Subordinated Notes due 2011
have been issued (the “Securities”).

 

                WHEREAS,
the Issuers and certain of the Guarantors have heretofore executed and delivered
to the Trustee the indenture dated as of August 6, 2003 (as such indenture has
been supplemented and amended to date, the “Existing Indenture,” and the
Existing Indenture, as it may from time to time be supplemented or amended by
one or more additional indentures supplemental thereto entered into pursuant to
the applicable provisions thereof, being hereinafter called the “Indenture”),
providing for the issuance of the Securities;

 

                WHEREAS,
the Issuers and certain of the Guarantors have heretofore executed and
delivered to the Trustee supplemental indentures dated as of December 5, 2003
and March 31, 2005;

 

                WHEREAS,
the Issuers and the Guarantors propose to amend the Existing Indenture (the “Proposed
Amendments”), which Proposed Amendments must be approved with the written
consent of the Holders of a majority of the aggregate principal amount of the
outstanding Securities;

 

                WHEREAS,
the Company has solicited the consent of the Holders of the Securities pursuant
to the Offer to Purchase and Consent Solicitation Statement dated May 3, 2005,
as amended, supplemented or modified (the “Consent Solicitation Statement”),
to the Proposed Amendments to the Indenture upon the terms and subject to the
conditions set forth therein;

 

                WHEREAS,
pursuant to Section 10.02 of the Indenture, the Issuers and the Guarantors may
amend or supplement the Indenture as contemplated hereby provided that the
Holders of at least a majority in aggregate principal amount of Securities then
outstanding have consented;

 

 

                WHEREAS,
the Issuers have received and delivered or caused to be delivered to the
Trustee the consent of the Holders of a majority in aggregate principal amount
of the outstanding Securities to the Proposed Amendments;

 

                WHEREAS,
the Trustee is in receipt of such written consents;

 

                WHEREAS,
each Issuer and each Guarantor has been authorized by a resolution of its
respective board of directors to enter into this Supplemental Indenture;

 

                WHEREAS,
all other acts and proceedings required by law, by the Existing Indenture and
by the certificate or articles of incorporation and by-laws or similar
organizational documents of the Issuers and the Guarantors to make this Supplemental
Indenture a valid and binding agreement for the purposes expressed herein, in
accordance with its terms, have been duly done and performed;

 

                WHEREAS,
pursuant to Section 10.06, the Trustee is authorized to execute and deliver
this Supplemental Indenture;

 

                WHEREAS,
following the execution of this Supplemental Indenture, the terms hereof will
become operative (the “Operative Date”) upon the acceptance for purchase
by the Company of Securities validly tendered in the Offer to Purchase contemplated
by the Consent Solicitation Statement (the “Tender Offer Condition”);
and

 

                WHEREAS,
the terms of this Supplemental Indenture shall be null and void if the Tender
Offer Condition does not occur.

 

                NOW,
THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH:

 

                That,
for and in consideration of the premises herein contained and in order to
effect the Proposed Amendments contained in the Consent Solicitation Statement,
pursuant to Sections 10.02 and 10.06 of the Existing Indenture, the Issuers and
the Guarantors agree with the Trustee as follows:

 

ARTICLE
ONE

AMENDMENT
OF EXISTING INDENTURE

 

                SECTION
1.01.  Amendment of
Existing Indenture. Effective as of the Operative Date, this Supplemental
Indenture amends the Existing Indenture as provided for herein. The Issuers and
the Guarantors acknowledge and agree that no amendment or waiver of the
provisions described in Section 10.02 (1) though (10) of the Existing Indenture
as requiring the consent of each affected Holder has been made hereby.  If the Operative Date does not occur on or
prior to August 1, 2005, then the terms of this Supplemental Indenture shall be
null and void and the 

 

2

 

Existing Indenture shall continue in full
force and effect without any modification hereby.  The Company shall give the Trustee prompt notice
of the Operative Date.

 

                SECTION
1.02.  Amendment of
Section 1.01. Pursuant to Section 10.02 of the Existing Indenture,
Section 1.01 of the Existing Indenture is hereby amended by deleting in their
entirety the definitions of “2003 Stock Transaction,” “Acquired Indebtedness,” “Average Life,” “Capital Stock,” “Consolidated
Cash Flow Available for Fixed Charges,” “Consolidated Cash Flow Ratio,” “Consolidated
Income Tax Expense,” “Consolidated Net Income,” “Disqualified Stock,” “GAAP,” “Investment,
“Management Investors,” “Permitted Investments,” “Permitted Liens,” and “Tangible
Assets” contained in the Existing Indenture.

 

                SECTION 1.03.  Amendment of
Section 1.02. Pursuant to Section 10.02 of the Existing Indenture,
Section 1.02 of the Existing Indenture is hereby amended and restated in its
entirety to read as follows:

 

SECTION 1.02. Other Definitions.

 

	
  Term

  	
   

  	
  Defined in

  
	
   

  	
   

  	
  Section

  
	
  ‘‘Additional
  Amounts’’

  	
   

  	
  4.19

  
	
  ‘‘Additional
  Securities’’

  	
   

  	
  2.02

  
	
  ‘‘Authentication
  Order’’

  	
   

  	
  2.02

  
	
  ‘‘Bankruptcy
  Law’’

  	
   

  	
  6.01

  
	
  ‘‘Change
  of Control’’

  	
   

  	
  4.14

  
	
  ‘‘Custodian’’

  	
   

  	
  6.01

  
	
  ‘‘Event
  of Default’’

  	
   

  	
  6.01

  
	
  ‘‘Guarantor
  Blockage Period’’

  	
   

  	
  12.02(a)

  
	
  ‘‘Guarantor
  Payment Blockage Notice’’

  	
   

  	
  12.02(a)

  
	
  ‘‘IAI
  Global Security’’

  	
   

  	
  2.01(a)

  
	
  ‘‘144A
  Global Security’’

  	
   

  	
  2.01(a)

  
	
  ‘‘Paying
  Agent’’

  	
   

  	
  2.03

  
	
  ‘‘Payment
  Blockage Notice’’

  	
   

  	
  8.02(a)

  
	
  ‘‘Payment
  Blockage Period’’

  	
   

  	
  8.02(a)

  
	
  ‘‘Regulation
  S Global Security’’

  	
   

  	
  2.01(a)

  
	
  ‘‘Registrar’’

  	
   

  	
  2.03

  
	
  ‘‘Required
  Filing Date’’

  	
   

  	
  4.12

  
	
  ‘‘Securities
  Act Legend’’

  	
   

  	
  2.06(f)

  
	
  ‘‘Taxes’’

  	
   

  	
  4.19

  
	
  ‘‘United
  States Government Obligation’’

  	
   

  	
  9.01

  

 

                SECTION 1.04.  Amendment to
Section 4.03.  Pursuant to
Section 10.02 of the Existing Indenture, Section 4.03 of the Existing Indenture
is hereby amended and restated in its entirety to read as follows:

 

 

3

 

SECTION 4.03.  [Intentionally Omitted.]

 

                SECTION 1.05.  Amendment to
Section 4.04.  Pursuant to
Section 10.02 of the Existing Indenture, Section 4.04 of the Existing Indenture
is hereby amended and restated in its entirety to read as follows:

 

SECTION 4.04.  [Intentionally Omitted.]

 

                SECTION 1.06.  Amendment to
Section 4.06.  Pursuant to
Section 10.02 of the Existing Indenture, Section 4.06 of the Existing Indenture
is hereby amended and restated in its entirety to read as follows:

 

SECTION 4.06.  [Intentionally Omitted.]

 

                SECTION 1.07.  Amendment to
Section 4.07.  Pursuant to
Section 10.02 of the Existing Indenture, Section 4.07 of the Existing Indenture
is hereby amended and restated in its entirety to read as follows:

 

SECTION 4.07.  Corporate Existence.

 

Subject to Article
Five, each of the Issuers shall do or shall cause to be done all things
necessary to preserve and keep in full force and effect its corporate existence
and the corporate, partnership or other existence of each of its Restricted
Subsidiaries that is an Issuer in accordance with the respective organizational
documents of each such Restricted Subsidiary.

 

                SECTION 1.08.  Amendment to
Section 4.08.  Pursuant to
Section 10.02 of the Existing Indenture, Section 4.08 of the Existing Indenture
is hereby amended and restated in its entirety to read as follows:

 

SECTION 4.08.  [Intentionally Omitted.]

 

                SECTION 1.09.  Amendment to
Section 4.09.  Pursuant to
Section 10.02 of the Existing Indenture, Section 4.09 of the Existing Indenture
is hereby amended and restated in its entirety to read as follows:

 

SECTION 4.09.  [Intentionally Omitted.]

 

                SECTION 1.10.  Amendment to
Section 4.10.  Pursuant to Section 10.02 of the Existing
Indenture, Section 4.10 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 4.10.  [Intentionally Omitted.]

 

 

4

 

                SECTION 1.11.  Amendment to
Section 4.13.  Pursuant to Section 10.02 of the Existing
Indenture, Section 4.13 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 4.13.  [Intentionally Omitted.]

 

                SECTION 1.12.  Amendment to
Section 4.15.  Pursuant to Section 10.02 of the Existing
Indenture, Section 4.15 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 4.15.  [Intentionally Omitted.]

 

                SECTION 1.13.  Amendment to
Section 4.16.  Pursuant to Section 10.02 of the Existing
Indenture, Section 4.16 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 4.16.  [Intentionally Omitted.]

 

                SECTION 1.14.  Amendment to
Section 4.17.  Pursuant to Section 10.02 of the Existing
Indenture, Section 4.17 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 4.17.  [Intentionally Omitted.]

 

                SECTION 1.15.  Amendment to
Section 4.18.  Pursuant to Section 10.02 of the Existing
Indenture, Section 4.18 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 4.18.  [Intentionally Omitted.]

 

                SECTION 1.16.  Amendment to
Section 5.01.  Pursuant to Section 10.02 of the Existing Indenture,
Section 5.01 of the Existing Indenture is hereby amended and restated in its
entirety to read as follows:

 

SECTION 5.01.  Restriction on Mergers, Consolidations and
Certain Sales of Assets.

 

None of the Issuers will consolidate or merge
with or into any Person, or sell, assign, lease, convey or otherwise dispose of
(or cause or permit any Restricted Subsidiary of the Issuers to consolidate or
merge with or into any Person or sell, assign, lease, convey or otherwise
dispose of) all or substantially all of the Company’s assets (determined on a
consolidated basis for the Company and its Restricted Subsidiaries), whether as
an entirety or substantially an entirety in one transaction or a series of
related transactions, including by way of liquidation or dissolution, to any
Person unless, in each such case:  (i)
the entity formed by or surviving any such consolidation or merger (if other
than such Issuer or such Restricted Subsidiary, as the case may 

 

5

 

be), or to which such sale, assignment,
lease, conveyance or other disposition shall have been made (the “Surviving
Entity”), is a corporation organized and existing under the laws of the
jurisdiction of incorporation of such Issuer or Restricted Subsidiary or the
United States, any state thereof or the District of Columbia; (ii)(a) in the
event the consolidation or merger involved an Issuer or all or substantially
all of Company’s assets (determined on a consolidated basis for the Company and
its Restricted Subsidiaries) were sold, assigned, leased, conveyed or otherwise
disposed of the Surviving Entity assumes by supplemental indenture all of the
obligations of such Issuer or the Issuers, as the case may be, under Section
7.07 this Indenture and under the indemnity provided for in the sixth paragraph
of Section 4.19 of this Indenture (the “Trustee Obligations”) or (b) in the
event the consolidation or merger involved the Guarantor, the Surviving Entity
assumed by supplemental indenture all of the obligations of the Guarantor with
respect to the Trustee Obligations; and (iii) the Company has delivered to the
Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
such consolidation or merger or sale, assignment, lease, conveyance, or other
disposition and, if a supplemental indenture is required in connection with
such transaction, such supplemental indenture, complies with this Article Five
and that all conditions precedent herein provided for relating to such
transaction have been complied with.  The
provisions of this Section 5.01 shall not apply to any merger of a Restricted
Subsidiary of the Company with or into the Company or a Wholly Owned Subsidiary
of the Company or any transaction pursuant to which the Guarantee is to be
released in accordance with the terms of the Guarantee and this Indenture in
connection with any transaction complying with the provisions of Section 4.05.

 

                SECTION 1.17.  Amendment to
Section 5.02.  Pursuant to Section 10.02 of the Existing
Indenture, Section 5.02 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 5.02.  Successor Corporation Substituted.

 

Upon any consolidation of any Issuer or any
Restricted Subsidiary of the Issuers with, or merger of such Issuer or such
Restricted Subsidiary into, any other Person or any sale, assignment, lease,
conveyance or other disposition of all or substantially all of the Company’s
assets (determined on a consolidated basis for the Company and its Restricted
Subsidiaries) (as an entirety or substantially as an entirety in one
transaction or a series of related transactions, including by way of
liquidation or dissolution) in accordance with Section 5.01, upon the execution
of a supplemental indenture by the Surviving Entity in form satisfactory to the
Trustee (as evidenced by the Trustee’s execution thereof), the Surviving Entity
shall succeed to, and be substituted for, and may exercise every right and
power of and shall assume all obligations of, such Issuer or such Restricted
Subsidiary, as the case may be, with respect to the Trustee Obligations under
this Indenture and the Guarantee, as the case may be, with the same effect as
if such Surviving Entity had been named as such Issuer, Guarantor or such
Restricted Subsidiary, as the case may be, herein, and thereafter, except in
the case of a lease, the predecessor Person shall be relieved of all
obligations and covenants under this Indenture and the Guarantee, as the case
may be, with respect to the Trustee Obligations.

 

6

 

                SECTION 1.18.  Amendment to
Section 6.01.  Pursuant to Section 10.02 of the Existing
Indenture, Section 6.01 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 6.01.  Events of Default.

 

An ‘‘Event of Default’’
occurs if:

 

(1)  the Issuers fail to pay the principal of any
Security when the same becomes due and payable (whether or not such payment is
prohibited by Article Eight hereof or, with respect to a payment on behalf of
the Issuers by the Guarantors, Article Twelve);

 

(2)  the Issuers fail to pay any interest on any
Security when the same becomes due and payable and the Default continues for a
period of 30 days (whether or not such payment is prohibited by Article Eight
hereof or, with respect to a payment on behalf of the Issuers by the Guarantors,
Article Twelve);

 

(3) the Issuers default
in the payment of principal of and interest on Securities required to be
purchased pursuant to an Offer to Purchase as described under Section 4.05 and
Section 4.14 when due and payable (whether or not such payment is prohibited by
Article Eight hereof or, with respect to a payment on behalf of the Issuers by
the Guarantors, Article Twelve);

 

(4) the Issuers fail to
perform or comply with any of the provisions of Section 5.01;

 

(5) [Intentionally
Omitted];

 

(6) [Intentionally
Omitted];

 

(7) [Intentionally
Omitted];

 

(8) the Company or any
Significant Subsidiary pursuant to or within the meaning of any Bankruptcy Law:

 

(A) commences a
voluntary case or proceeding,

 

(B) consents to the
entry of an order for relief against it in an involuntary case or proceeding,

 

(C) consents to the
appointment of a Custodian of it or for all or substantially all of its
property, or

 

(D) makes a general
assignment for the benefit of its creditors; or

 

(9) a court of
competent jurisdiction enters an order or decree under any Bankruptcy Law that:

 

7

 

(A) is for relief
against the Company or any Significant Subsidiary in an involuntary case or
proceeding,

 

(B) appoints a
Custodian of the Company or any Significant Subsidiary or for all or
substantially all of its property, or

 

(C) orders the
liquidation of the Company or any Significant Subsidiary,

 

and in each case the
order or decree remains unstayed and in effect for 60 days; provided, however, that if the entry of such order or decree
is appealed and dismissed on appeal then the Event of Default hereunder by
reason of the entry of such order or decree shall be deemed to have been cured.

 

(10) [Intentionally
Omitted].

 

The term ‘‘Custodian’’
means any receiver, trustee, assignee, liquidator, sequestrator or similar
official under any Bankruptcy Law.

 

                SECTION 1.19.  Amendment to
Section 9.01.  Pursuant to Section 10.02 of the Existing
Indenture, Section 9.01 of the Existing Indenture is hereby amended and
restated in its entirety to read as follows:

 

SECTION 9.01.  Termination of Issuers’ Obligations.

 

Subject to the provisions of
Article Eight, the Company may terminate its substantive obligations and the
substantive obligations of the other Issuer and the Guarantors in respect of
the Securities by delivering all outstanding Securities to the Trustee for
cancellation and paying all sums payable by the Issuers on account of principal
of, premium, if any, and interest on all Securities.  In addition, subject to the provisions of
Article Eight with respect to the creation of the defeasance trust provided for
in the following clause (i), the Company may, provided that no Default or Event
of Default has occurred and is continuing or would arise therefrom and provided
that no default under any Senior Debt would arise therefrom and, so long as any
Obligations or commitments under the Credit Agreement shall be outstanding, the
Agent under the Credit Agreement shall have consented thereto in writing,
terminate all of its substantive obligations and all of the substantive
obligations of the other Issuers and the Guarantors in respect of the
Securities (including the Issuers’ obligations to pay the principal of (and
premium, if any, on) and interest on the Securities and the Guarantors’
Guarantee thereof) by (i) depositing with the Trustee, under the terms of an irrevocable
trust agreement, money which is sufficient or direct non-callable obligations
of the United States of America for the payment of which the full faith and
credit of the United States is pledged (“United States Government Obligations”)
the principal of and interest on which is sufficient (without reinvestment), or
a combination thereof sufficient, to pay all remaining indebtedness on the
Securities and (ii) delivering to the Trustee an Officers’ Certificate and an
Opinion of Counsel each stating that there has been compliance with all conditions
precedent provided for herein.

8

 

Notwithstanding the
foregoing paragraph, the Issuers’ obligations in Sections 2.03, 2.05, 2.06,
2.07, 4.01 (but not with respect to termination of substantive obligations pursuant
to the third sentence of the foregoing paragraph), 4.02, 7.07, 7.08, 9.03 and
9.04 shall survive until the Securities are no longer outstanding.  Thereafter the Issuers’ obligations in
Sections 7.07, 9.03 and 9.04 shall survive.

After such delivery or irrevocable deposit
and delivery of an Officers’ Certificate and Opinion of Counsel, the Trustee
upon a Company Request shall acknowledge in writing the discharge of the
Issuers’ and the Guarantors’ obligations under the Securities, the Guarantees
and this Indenture except for those surviving obligations specified above.

 

ARTICLE
TWO

AMENDMENT
OF EXISTING INDENTURE

 

                SECTION 2.01.  Privileges and Immunities of Trustee. The Trustee accepts
the amendment of the Indenture effected by this Supplemental Indenture but only
upon the terms and conditions set forth in the Indenture, including the terms
and provisions defining and limiting the liabilities and responsibilities of
the Trustee, which terms and provisions shall in like manner define and limit
its liabilities and responsibilities in the performance of the trust created by
the Indenture as hereby amended. The Trustee shall not be responsible for the
adequacy or sufficiency of the Supplemental Indenture, for the due execution
thereof by the Issuers and the Guarantors or for the recitals contained herein,
which are the Issuers’ and the Guarantors’ responsibilities.

 

ARTICLE
THREE

MISCELLANEOUS
PROVISIONS

 

                SECTION 3.01.  Instruments to be Read Together. This Supplemental Indenture
is an indenture supplemental to and in implementation of the Existing
Indenture, and said Existing Indenture and this Supplemental Indenture shall
henceforth be read together.

 

                SECTION 3.02.  Confirmation. The Existing Indenture as amended and
supplemented by this Supplemental Indenture is in all respects confirmed and
preserved.

 

                SECTION 3.03.  Terms Defined. Capitalized terms used herein without
definition shall have the meanings assigned to them in the Existing Indenture.

 

                SECTION 3.04.  Counterparts. This Supplemental Indenture may be signed in
any number of counterparts each of which so executed shall be deemed to be an
original, but all such counterparts shall together constitute but one and the
same instrument.

 

                SECTION 3.05.  Effect of Headings. The Section headings herein are for
convenience only and shall not affect the construction hereof.

 

9

 

                SECTION 3.06.  Effectiveness. The provisions of this Supplemental Indenture
will take effect immediately upon execution thereof by the parties hereto and
will become operative to amend the Existing Indenture as provided in Article
One hereof on the Operative Date of this Supplemental Indenture. If the Tender
Offer Condition does not occur, the terms of this Supplemental Indenture shall be
null and void.

 

                SECTION 3.07.  Governing Law. The laws of the State of New York shall
govern this Supplemental Indenture without regard to principles of conflicts of
law.

 

[remainder
of the page intentionally left blank]

 

 

10

 

                IN
WITNESS WHEREOF, the parties hereto have caused this Supplemental Indenture to
be duly executed as of the date first above written.

 

 

	
   

  	
  EURAMAX INTERNATIONAL,
  INC.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ R. SCOTT VANSANT

  	
   

  
	
   

  	
   

  	
  Name:

  	
  R. Scott Vansant

  
	
   

  	
  Title:

  	
  Chief Financial Officer

  
						

 

 

 

 

 

	
   

  	
  EURAMAX INTERNATIONAL
  HOLDINGS B.V.

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ ROBERT A. G. DRESEN

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Robert A. G. Dresen

  
	
   

  	
   

  	
  Title:

  	
  Managing Director

  
						

 

 

	
   

  ,

  	
   

  
	
   

  	
  AMERIMAX
  BUILDING PRODUCTS, INC.,

  
	
   

  	
  AMERIMAX
  DIVERSIFIED PRODUCTS, INC.,

  
	
   

  	
  AMERIMAX
  FABRICATED PRODUCTS, INC.,

  
	
   

  	
  AMERIMAX
  FINANCE COMPANY, INC.,

  
	
   

  	
  AMERIMAX
  HOME PRODUCTS, INC.,

  
	
   

  	
  AMERIMAX
  RICHMOND COMPANY,

  
	
   

  	
  BERGER
  BUILDING PRODUCTS, INC.,

  
	
   

  	
  BERGER
  HOLDINGS, LTD.,

  
	
   

  	
  FABRAL
  HOLDINGS, INC.,

  
	
   

  	
  FABRAL,
  INC.,

  
	
   

  	
  GUTTER
  ACQUISITION, INC.,

  
	
   

  	
  as
  Guarantors

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   By:

  	
  /s/
  R. SCOTT VANSANT

  	
   

  
	
   

  	
   

  	
  Name:

  	
  R.
  Scott Vansant

  
	
   

  	
   

  	
  Title:

  	
  Chief
  Financial Officer

  
					

 

 

 

 

	
   

  	
  AMERIMAX UK, INC.,

  	
   

  
	
   

  	
  as a Guarantor

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   By:

  	
  /s/ IAN PITTENDREIGH

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Ian Pittendreigh

  
	
   

  	
   

  	
  Title:

  	
  Secretary

  
					

 

 

 

	
   

  	
   

  	
   

  	
   

  
	
   

  	
  JPMORGAN CHASE BANK, N.A.,
  as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   By:

  	
  /s/ JENNIFER H. MCCOURT

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Jennifer H. McCourt

  
	
   

  	
  Title:

  	
  Vice PresidentExhibit
10.1

 

 

 

REGISTRATION RIGHTS
AGREEMENT

 

Concerning

 

NEW SKIES SATELLITES
HOLDINGS, LTD.

 

 

 

Dated as of May 13, 2005

 

 

 

 

Registration Rights Agreement

 

 

TABLE OF CONTENTS

 

	
  Section 1.
  Definitions

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 2.
  Registration Under the Securities Act

  	
   

  
	
  (a)

  	
  Required Registration

  	
   

  
	
  (b)

  	
  Incidental Registration

  	
   

  
	
  (c)

  	
  Expenses

  	
   

  
	
  (d)

  	
  Effective Registration Statement;
  Suspension

  	
   

  
	
  (e)

  	
  Selection of Underwriters

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 3.
  Restrictions on Public Sale

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 4. Registration
  Procedures

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 5. Indemnification; Contribution

  	
   

  
	
   

  	
   

  	
   

  
	
  (a)

  	
  Indemnification by the Company

  	
   

  
	
  (b)

  	
  Indemnification by Holders

  	
   

  
	
  (c)

  	
  Conduct of Indemnification
  Proceedings

  	
   

  
	
  (d)

  	
  Contribution

  	
   

  
	
   

  	
   

  	
   

  
	
  Section 6. Miscellaneous

  	
   

  
	
   

  	
   

  	
   

  
	
  (a)

  	
  No Inconsistent Agreements

  	
   

  
	
  (b)

  	
  Amendments and Waivers

  	
   

  
	
  (c)

  	
  Investor Action

  	
   

  
	
  (d)

  	
  Notices

  	
   

  
	
  (e)

  	
  Successors and Assigns

  	
   

  
	
  (f)

  	
  Recapitalizations, Exchanges,
  etc., Affecting Registrable Securities

  	
   

  
	
  (g)

  	
  Relative Registration Rights.

  	
   

  
	
  (h)

  	
  Counterparts

  	
   

  
	
  (i)

  	
  Descriptive Headings, etc.

  	
   

  
	
  (j)

  	
  Severability

  	
   

  
	
  (k)

  	
  Governing Law

  	
   

  
	
  (l)

  	
  Specific Performance

  	
   

  
	
  (m)

  	
  Jurisdiction

  	
   

  
	
  (n)

  	
  Waiver of
  Jury Trial

  	
   

  
	
  (o)

  	
  Entire
  Agreement

  	
   

  

 

i

 

REGISTRATION RIGHTS
AGREEMENT, dated as of
May 13, 2005 (the “Agreement”), by and between New Skies Satellites
Holdings Ltd., a limited liability company organized under the laws of Bermuda (the “Company”), the Blackstone
Investors (as hereinafter defined), and the Senior Managers (as hereinafter
defined) and any other Person that shall from and after the date hereof acquire
or otherwise be the transferee of any Registrable Securities and who shall
become a signatory hereto (herein referred to collectively as the “Holders”
and individually as a “Holder”).

 

WHEREAS, the Company has agreed to provide registration
rights on the terms and subject to the conditions provided herein.

 

NOW, THEREFORE, in consideration of the premises and the
representations, warranties and agreements contained herein, and for other good
and valuable consideration, the receipt and sufficiency of which is hereby
acknowledged, and intending to be legally bound hereby, the parties hereto
agree as follows:

 

Section 1.   Definitions.

 

As used in this Agreement, the following terms shall
have the following meanings:

 

“Affiliate” shall have the meaning
ascribed thereto in Rule 12b-2 promulgated under the Exchange Act, as in effect
on the date hereof.

 

“Blackstone Investors” shall mean the parties
identified on the signature pages hereto as a “Blackstone Investor”.

 

“Company” shall have the meaning set forth in
the preamble and shall also include the Company’s successors.

 

“Company Notice” shall have the meaning set
forth in Section 2(b)(i).

 

“Eligible Holders” shall have the meaning set
forth in Section 2(b)(i).

 

“Exchange Act” shall mean the
Securities Exchange Act of 1934, as amended from time to time.

 

“Family
Trust” means a trust solely for the benefit of a Senior Manager and any
member of the immediate family of such Senior Manager (which shall mean, any
parent, spouse, child or other lineal descendants (including by adoption),
brother or sister thereof or any spouse of any of the foregoing), (ii) each
trust created for the benefit of a Senior Manager or in which one or more
members of such Senior Manager’s immediate family has a beneficial interest and
(iii) any Person who is controlled by any such immediate family member or trust
(including each custodian of property for one or more such Persons).

 

“Holder” shall have the meaning set forth in
the preamble.

 

 

“Incidental Registration” shall mean a
registration required to be effected by the Company pursuant to Section 2(b).

 

“Incidental Registration Statement” shall
mean a registration statement of the Company as provided in Section 2(b), which
covers any of the Registrable Securities on an appropriate form in accordance
with the Securities Act and all amendments and supplements to such registration
statement, including post-effective amendments, in each case including the
Prospectus contained therein, all exhibits thereto and all material
incorporated by reference therein.

 

“IPO” means an initial firm commitment
underwritten public offering of Securities pursuant to an effective
registration statement under the Securities Act, other than pursuant to a
registration statement on Form S-4 or Form S-8 or other limited purpose form.

 

“Law”
means any statute, law, regulation, ordinance, rule, injunction, order, decree,
governmental approval, directive, requirement, or other governmental
restriction or any similar form of decision of, or determination by, or any
interpretation or administration of any of the foregoing by, any Governmental
Authority.

 

“Majority Holders” shall mean Holders of
Securities representing in the aggregate a majority of the aggregate number of
outstanding Securities beneficially owned by all Holders.

 

“Management Representative” shall mean Daniel
S. Goldberg.

 

“NASD” shall mean the National
Association of Securities Dealers, Inc.

 

“Person” means
an individual, a partnership, a corporation, a limited liability company, an
association, a joint stock company, a trust, a joint venture, an unincorporated
organization and a governmental entity or any department, agency or political
subdivision thereof.

 

“Prospectus” shall mean the prospectus
included in a Registration Statement, including any preliminary Prospectus, and
any such Prospectus as amended or supplemented by any prospectus supplement
with respect to the terms of the offering of any portion of the Registrable
Securities and by all other amendments and supplements to such Prospectus,
including post-effective amendments, and in each case including all material
incorporated by reference therein.

 

“Registrable Securities” shall mean (i) any
Shares acquired by any Holder and (ii) any securities of the Company issued or
issuable directly or indirectly with respect to or in exchange, or substitution
for, or conversion of the securities referred to in clause (i) above by way of
dividend or distribution, recapitalization, merger, consolidation, exchange or
other reorganization.  As to any
particular Registrable Securities, such securities shall cease to be
Registrable Securities when they have been distributed to the public pursuant
to an offering registered under the Securities Act or sold to the public
through a broker, dealer or market maker in compliance with Rule 144 under the
Securities Act (or any similar rule then in force).

 

2

 

“Registration Expenses” shall mean all (i)
registration, qualification and filing fees, (ii) fees and expenses of
compliance with securities or blue sky laws (including reasonable fees and
disbursements of a qualified independent underwriter, if any, counsel in
connection therewith and the reasonable fees and disbursements of counsel in
connection with blue sky qualifications of the Registrable Securities), (iii)
printing expenses, (iv) internal expenses of the Company (including, without
limitation, all salaries and expenses of officers and employees performing
legal or accounting duties), (v) fees and disbursements of counsel for the
Company, (vi) customary fees and expenses for independent certified public
accountants retained by the Company (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) fees and expenses of
any special experts retained by the Company in connection with such
registration, (viii) reasonable fees and expenses of one separate firm of
attorneys for the Holders (which counsel shall be selected by the Holders
selling securities constituting a majority of all securities to be included in
such registration) and (ix) fees and expenses of listing the Registrable
Securities on a securities exchange; but shall not include any Selling
Expenses.

 

“Registration Statement” shall mean any
registration statement of the Company which covers any Registrable Securities
and all amendments and supplements to any such Registration Statement,
including post-effective amendments, in each case including the Prospectus
contained therein, all exhibits thereto and all material incorporated by
reference therein.

 

“Request” shall have the meaning set forth in
Section 2(a)(i)(A).

 

“Required Registration” shall mean any
registration required to be effected pursuant to Section 2(a)(i)(A).

 

“Required Registration Statement” shall mean
a Registration Statement which covers the Registrable Securities requested to
be included therein pursuant to a Required Registration on an appropriate form
pursuant to the Securities Act (including pursuant to Rule 415 thereunder or
any similar rule then in force), and which form shall be available for the sale
of the Registrable Securities in accordance with the intended method or methods
of distribution thereof, and all amendments and supplements to such
Registration Statement, including post-effective amendments, in each case
including the Prospectus contained therein, all exhibits thereto and all
material incorporated by reference therein.

 

“SEC” shall mean the United States Securities
and Exchange Commission.

 

“Securities” or “Shares” shall mean
the ordinary shares or common shares of the Company.

 

“Securities Act” means the Securities
Act of 1933, and the rules and regulations promulgated thereunder, as the same
may be amended from time to time.

 

“Selling Expenses” shall mean underwriting
discounts, selling commissions and stock transfer taxes applicable to the
Securities registered by the Holders.

 

3

 

“Senior Managers” shall mean the parties
identified on the signature pages hereto as “Senior Managers”.

 

“Shelf Registration” shall have the meaning
set forth in Section 2(a)(i)(A).

 

“Underwriter” shall have the meaning set
forth in Section 5(a).

 

“Underwritten Offering” shall mean a sale of
securities of the Company to an Underwriter or Underwriters for reoffering to
the public.

 

Section 2.   Registration Under the Securities Act.

 

(a)  Required Registration.

 

(i)                                     Right to Require Registration.

 

(A)  At any time after the date of this Agreement,
the Blackstone Investors shall have the right to deliver a request in writing
to the Company (a “Request”) (which Request shall specify the
Registrable Securities intended to be disposed, the identity of the Person(s)
within the Blackstone Investors intending to dispose of such Registrable Securities,
and the intended method of distribution thereof) that the Company register the
Registrable Securities held by the specified Person(s) within the Blackstone
Investors (including, if available, by means of a shelf offering pursuant to
Rule 415 under the Securities Act (or any similar rule then in force) (a “Shelf
Registration”)) by filing with the SEC a Required Registration Statement.

 

(B)  Upon the receipt of any Request by the
Blackstone Investors in which the Blackstone Investors are proposing to sell
Registrable Securities, the Company will, subject to the other provisions of
this Section 2(a), not later than the 60th day after the receipt of such a
Request by the Company cause to be filed with the SEC a Required Registration
Statement covering the Registrable Securities which the Company has been so
requested to register in such Request, all to the extent necessary to permit
the disposition of such Registrable Securities so to be registered in accordance
with the intended methods of distribution thereof specified in such Request or
further requests.

 

(C)  Upon the
receipt of any Request, the Company will, by the tenth day thereafter, give
written notice of such requested registration to all Holders of Registrable
Securities, and each such Holder shall be entitled to notify the Company within
ten days of receipt of notice of such Request of such Holder’s election to
include all or a portion of its Registrable Securities in such
registration.  Not later than the 60th
day after the receipt of such a Request by the Company, the Company will,
subject to the other provisions of this Section 2(a), cause to be filed with
the SEC a Required Registration Statement covering the Registrable Securities
which the Company has been so requested to register in such Request and all
other Registrable Securities which the Company has been requested to register
by Holders thereof other than the Holder(s) who are 

 

4

 

members of the Blackstone Investors initiating such Request,
all to the extent necessary to permit the disposition of such Registrable
Securities so to be registered in accordance with the intended methods of
distribution thereof specified in such Request or further requests.

 

(D)  For any
Required Registration Statement prepared and filed pursuant to Section 2(a)(i),
the Company shall use all reasonable efforts to have such Required Registration
Statement declared effective by the SEC as soon as practicable after the filing
of such Required Registration Statement and to keep such Required Registration
Statement continuously effective (x) for a period of at least 60 days, in the
case of a Required Registration other than a Shelf Registration (or, in the
case of an Underwritten Offering, such period as the Underwriters shall
reasonably require) following the date on which such Required Registration
Statement is declared effective (or such shorter period which will terminate
when all of the Registrable Securities covered by such Required Registration
Statement have been sold pursuant thereto) or (y) until all of the
Registrable Securities that are the subject of such Required Registration
Statement have been disposed of pursuant thereto, in the case of a Shelf
Registration, including, in
either case, if necessary, by filing with the SEC a post-effective amendment or
a supplement to the Required Registration Statement or the related Prospectus
or any document incorporated therein by reference or by filing any other
required document or otherwise supplementing or amending the Required
Registration Statement, if required by the rules, regulations or instructions
applicable to the registration form used by the Company for such Required
Registration Statement or by the Securities Act, the Exchange Act, any state
securities or blue sky laws, or any rules and regulations thereunder.

 

(E)  The Company shall not be required to effect,
pursuant to this Section 2(a)(i), (w) more than one Required Registration
within any continuous three month period, or (x) any Underwritten Offering
covering Registrable Securities with gross proceeds reasonably expected by the
Holders to be less than $25 million.  The
Senior Managers shall have no right to, and shall not, make a Request that the
Company effect a Required Registration under Section 2(a)(i)(A) at any time; provided,
however, that nothing herein shall limit or restrict the Senior Managers
rights under Section 2(a)(i)(C) or 2(b)(i). For the avoidance of doubt, subject
to this Section 2(a)(i)(E), the Blackstone Investors shall not be limited as to
the number of Required Registrations which it is entitled to request under this
Section 2(a)(i).

 

(F)  A Request may be withdrawn prior to the
filing of the Required Registration Statement by the Blackstone Investors who
made such Request and a Required Registration Statement may be withdrawn prior
to the effectiveness thereof by the Holders of a majority of the Registrable
Securities included therein, and, in either such event, such withdrawal shall
not be treated as a Required Registration for purposes of clause (w) of the
immediately preceding paragraph.

 

5

 

(G)  The registration rights granted pursuant to
the provisions of this Section 2(a)(i) shall be in addition to the registration
rights granted pursuant to the other provisions of this Section 2.

 

(ii)                                  Priority
in Required Registrations.  If a
Required Registration pursuant to this Section 2(a) involves an Underwritten
Offering, and the sole Underwriter or the lead managing Underwriter, as the
case may be, of such Underwritten Offering shall advise the Company in writing
(with a copy to each Holder requesting registration) that, in its opinion, the
amount of Registrable Securities requested to be included in such Required
Registration exceeds the amount which can be sold in such offering without
adversely affecting the distribution of the Registrable Securities being
offered, the Company will include in such Required Registration only the amount
of Registrable Securities that the Company is so advised can be sold in such
offering without so adversely affecting such distribution; provided,
however, that the Company shall be
required to include in such Required Registration first,
all Registrable Securities requested to be included in the Required
Registration by the Blackstone Investors and, if any, the Senior Managers and,
to the extent not all such Registrable Securities can be included in such
Required Registration, the number of Registrable Securities to be included
shall be allocated pro  rata among the Blackstone Investors and the Senior Managers
on the basis of the number of Registrable Securities requested to be included
in such Required Registration by each such Blackstone Investor or Senior
Manager or on such other basis as shall be agreed among the Blackstone
Investors and the Management Representative (if the Senior Managers have
requested Registrable Securities to be included in the Required Registration); second, all Registrable Securities requested to be included
in such Required Registration by the other Holders and, to the extent not all
such Registrable Securities can be included in such Required Registration, the
number of Registrable Securities to be included shall be allocated pro rata among such other Holders on the
basis of the number of Registrable Securities requested to be included in such
Required Registration by each such Holder and third,
all other securities requested, in accordance with any registration rights
which are granted in compliance with Section 6(a), to be included in such
Required Registration which are of the same class as the Registrable Securities
otherwise to be included in such Required Registration and, to the extent not
all such securities can be included in such Required Registration, the number
of securities to be included shall be allocated pro
rata among the holders thereof
requesting inclusion in such Required Registration on the basis of the number
of securities requested to be included by all such holders.

 

(b)  Incidental
Registration.

 

(i)                                     Right to Include Registrable Securities.  If
at any time after the date hereof, the Company proposes to register any
Securities under the Securities Act (other than (A) any registration of public
sales or distributions solely by and for the account of the Company of
securities issued (x) pursuant to any employee benefit or similar plan or any
dividend reinvestment plan or (y) in any acquisition by the Company or
financing thereof, or (B) pursuant to Section 2(a) hereof (it being understood
that such Section 2(a) provides for incidental registration rights with respect
to registrations conducted thereunder)) in connection with a primary offering
for cash for the account of 

 

6

 

the Company or any secondary offering, the Company
will, each time it intends to effect such a registration, subject to the
following qualifications, give written notice (the “Company Notice), to
all Holders of Registrable Securities (including the Blackstone Investors and
the Senior Managers), at least ten but no more than 45 days prior to the
expected initial filing of a Registration Statement with the SEC pertaining
thereto, informing such Holders entitled to receive the Company Notice (the “Eligible
Holders”) of its intent to file such Registration Statement, the expected
filing date, and of the Eligible Holders’ rights to request the registration of
the Registrable Securities held by the Eligible Holders under this Section
2(b).  Upon the written request of any
such Eligible Holder made within fifteen days after any such Company Notice is
given (which request shall specify the Registrable Securities intended to be
disposed of by such Eligible Holder and, unless the applicable registration is
intended to effect a primary offering of Securities for cash for the account of
the Company, the intended method of distribution thereof), the Company will use
all reasonable efforts to effect the registration under the Securities Act of
all Registrable Securities which the Company has been so requested to register
by such Eligible Holders to the extent required to permit the disposition (in
accordance with the intended methods of distribution thereof or, in the case of
a registration which is intended to effect a primary offering for cash for the
account of the Company, in accordance with the Company’s intended method of
distribution) of the Registrable Securities so requested to be registered,
including, if necessary, by filing with the SEC a post-effective amendment or a
supplement to the Incidental Registration Statement or the related Prospectus
or any document incorporated therein by reference or by filing any other
required document or otherwise supplementing or amending the Incidental
Registration Statement, if required by the rules, regulations or instructions
applicable to the registration form used by the Company for such Incidental
Registration Statement or by the Securities Act, any state securities or blue
sky laws, or any rules and regulations thereunder; provided,
however, that if, at
any time after giving written notice of its intention to register any
securities and prior to the effective date of the Incidental Registration
Statement filed in connection with such registration, the Company shall
determine for any reason not to register or to delay registration of all of the
securities to be registered under such Incidental Registration Statement, the
Company may, at its election, give written notice of such determination to each
Eligible Holder and, thereupon, (A) in the case of a determination not to
register, the Company shall be relieved of its obligation to register any
Registrable Securities in connection with such registration (but not from its
obligation to pay the Registration Expenses incurred in connection therewith),
and (B) in the case of a determination to delay such registration, the Company
shall be permitted to delay registration of any Registrable Securities
requested to be included in such Incidental Registration Statement for the same
period as the delay in registering such other securities to be included
therein.

 

The registration rights
granted pursuant to the provisions of this Section 2(b)(i) shall be in addition
to the registration rights granted pursuant to the other provisions of this
Section 2.

 

(ii)                                  Priority in Incidental Registrations.  If a
registration pursuant to this Section 2(b) involves an Underwritten Offering of
the securities so being registered, whether or not for sale for the account of
the Company, and the sole Underwriter or the 

 

7

 

lead managing Underwriter, as the case may be, of such
Underwritten Offering shall advise the Company in writing (with a copy to each
Holder of Registrable Securities requesting registration) that, in its opinion,
the amount of securities (including Registrable Securities) requested to be
included in such registration exceeds the amount which can be sold in (or
during the time of) such offering without adversely affecting the distribution
of the securities being offered, then the Company will be required to include
in such registration, first, all the
securities entitled to be sold pursuant to such Registration Statement without
reference to the incidental registration rights of any holder (including
Holders); second all Registrable Securities
requested to be included in the Underwritten Offering by the Blackstone
Investors and the Senior Managers and, to the extent not all such Registrable
Securities can be included in such Underwritten Offering, the number of
Registrable Securities to be included shall be allocated pro
rata among the Blackstone Investors and
the Senior Managers on the basis of the number of Registrable Securities
requested to be included in the Underwritten Offering by the Blackstone
Investors and the Senior Managers or on such other basis as shall be agreed
among the Blackstone Investors and the Management Representative (if the Senior
Managers have requested Registrable Securities to be included in such Required
Registration) (provided that, the provisions under this clause “second” shall have priority over the
foregoing clause “first” if
Blackstone gives notice to the Company that Blackstone is electing to have the
applicable Underwritten Offering constitute a Required Registration); third, all Registrable Securities requested to be included
in such Underwritten Offering by the other Holders and, to the extent not all
such Registrable Securities can be included in such Underwritten Offering, the
number of Registrable Securities to be included shall be allocated pro  rata among such
other Holders on the basis of the number of Registrable Securities requested to
be included in such Underwritten Offering by all such Holders and fourth, all other securities requested, in accordance with
any registration rights which are granted in compliance with Section 6(a), to
be included in such Underwritten Offering which are of the same class as the
Registrable Securities otherwise to be included in such Required Registration
and, to the extent not all such securities can be included in such Underwritten
Offering, the number of securities to be included shall be allocated pro  rata among the
holders thereof requesting inclusion in such Underwritten Offering on the basis
of the number of securities requested to be included by all such holders; provided, however, that
in the event the Company will not, by virtue of this paragraph, include in any
such registration all of the Registrable Securities of any Holder requested to
be included in such registration, such Holder may, upon written notice to the
Company given within three days of the time such Holder first is notified of
such matter, reduce the amount of Registrable Securities it desires to have
included in such registration, whereupon only the Registrable Securities, if
any, it desires to have included will be so included and the Holders not so
reducing shall be entitled to a corresponding increase in the amount of
Registrable Securities to be included in such registration.

 

(c)  Expenses.  The Company agrees to (i) pay all Registration
Expenses in connection with each of the registrations requested pursuant to
Section 2(a) and (ii) pay all Registration Expenses in connection with each
registration as to which Holders request inclusion of Registrable Securities
pursuant to Section 2(b).  All Selling
Expenses relating to securities 

 

8

 

registered on behalf of Holders shall be borne by the Holders of
securities included in such registration pro rata on the
basis of the number of such Holders’ securities so registered.

 

(d)  Effective
Registration Statement; Suspension. 
Subject to Section 2(a)(i)(F), a Registration Statement pursuant to
Section 2(a) will not be deemed to have become effective (and the related
registration will not be deemed to have been effected) unless it has been
declared effective by the SEC or, in the case of a Registration Statement filed
pursuant to Rule 415 (or any similar rule then in force) in connection with a
Shelf Registration, unless Registrable Securities have been disposed of
pursuant thereto, prior to a request by the Holders of a majority of the
Registrable Securities included in such registration that such Registration
Statement be withdrawn; provided, however, that if, after it has been declared effective, the
offering of any Registrable Securities pursuant to such Registration Statement
is interfered with by any stop order, injunction or other order or requirement
of the SEC or any other governmental agency or court, such Registration
Statement will be deemed not to have become effective and the related
registration will not be deemed to have been effected.

 

(e)  Selection
of Underwriters.  At any time or from
time to time, the holder (including the Company, if applicable) of the greatest
number of Registrable Securities covered by a Registration Statement may elect
to have such Registrable Securities sold in an Underwritten Offering and may
select the investment banker or investment bankers and manager or managers that
will serve as lead and co-managing Underwriters with respect to the offering of
such Registrable Securities, subject to the consent of the Company, which shall
not be unreasonably withheld.  No Holder
may participate in any Underwritten Offering hereunder unless such Holder (i)
agrees to sell such Holder’s securities on the basis provided in any
underwriting arrangements approved by the Persons entitled hereunder to approve
such arrangements and (ii) completes and executes all questionnaires, powers of
attorney, custody agreements, indemnities, underwriting agreements and other
documents required under the terms of such Underwritten Offering.

 

Section 3.   Restrictions on Public Sale.

 

(a)  If requested by the sole Underwriter or lead
managing Underwriter(s) in an Underwritten Offering, the Company agrees not to
effect any public sale or distribution (other than, in the case of the Company,
public sales or distributions solely by and for the account of the Company of
securities issued pursuant to any employee benefit or similar plan or any
dividend reinvestment plan) of any Securities (or equity or equity-linked
securities) during the period commencing on the date the Company receives a
Request from any Holder and continuing until one hundred eighty (180) days
after the effective date of any Underwritten Offering (or for such shorter
period as the sole or lead managing Underwriter shall request) unless earlier
terminated by the sole Underwriter or lead managing Underwriter(s) in such
Underwritten Offering; provided however,
that in the case of a Shelf Registration pursuant to Rule 415 of the Securities
Act (or any similar rule then in force), the provisions set forth in this
Section 3(a) shall only apply for the period commencing on the date of any
underwritten take-down and continuing until one hundred and eighty (180) days
following the date of such underwritten take-down (or for such shorter period
as the sole or lead managing Underwriter shall request) unless earlier
terminated by the sole Underwriter or lead managing Underwriter(s) in such
underwritten take-down.

 

9

 

(b)  If requested by the sole Underwriter or lead
managing Underwriter(s) in an Underwritten Offering, the Holders shall not sell
or otherwise transfer or dispose of any Securities (or equity or equity-linked
securities) of the Company held by the Holders (other than those included in
the registration) during the fourteen (14) day period prior to and the one
hundred eighty (180) day period following the effective date (including such
effective date), of any offering, or in the case of a Shelf Registration
pursuant to Rule 415 of the Securities Act (or any similar rule then in force),
the 180 day period following the date of any underwritten take-down, or in
either case such shorter period as the sole Underwriter or lead managing Underwriter(s)
may request, provided that the obligations
described in this Section 3(b) shall not apply to a registration relating
solely to the sale of securities to employees of the Company pursuant to a
stock option, stock purchase or similar plan or Rule 145 (or any similar rule
then in force) or similar transaction. 
The Company may impose stop-transfer instructions with respect to the
Securities (or equity or equity-linked securities) subject to the foregoing
restriction until the end of the applicable period pursuant to the first
sentence of this Section 3(b).

 

Section 4.   Registration Procedures.

 

In connection with the obligations of the Company
pursuant to Section 2 or, for the avoidance of doubt, in connection with a sale
of any Registrable Securities pursuant to an underwritten take-down in the case
of a Shelf Registration pursuant to Rule 415 of the Securities Act (or any
similar rule then in force), the Company shall use all reasonable efforts to effect
the registration of the Registrable Securities under the Securities Act to
permit the sale of such Registrable Securities by the Holders in accordance
with their intended method or methods of distribution, and the Company shall:

 

(a)  (i)  prepare and file a Registration Statement
with the SEC which (x) shall be on Form S-3 (or any successor to such
form), if available, (y) shall be available for the sale or exchange of the
Registrable Securities in accordance with the intended method or methods of
distribution by the selling Holders thereof, and (z) shall comply as to form
with the requirements of the applicable form and include all financial
statements required by the SEC to be filed therewith and all other information
reasonably requested by the lead managing Underwriter or sole Underwriter, if
applicable, to be included therein, (ii)
use all reasonable efforts to cause such Registration Statement to become
effective and remain effective in accordance with Section 2, (iii) use all reasonable efforts to not take any
action that would cause a Registration Statement to contain a material
misstatement or omission or to be not effective and usable for resale of
Registrable Securities during the period that such Registration Statement is
required to be effective and usable, and (iv)
cause each Registration Statement and the related Prospectus and any amendment
or supplement thereto, as of the effective date of such Registration Statement,
amendment or supplement (x) to comply in all material respects with any requirements
of the Securities Act and the rules and regulations of the SEC and (y) not to
contain any untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein
not misleading;

 

(b)  subject to paragraph (j) of this
Section 4, prepare and file with the SEC such amendments and
post-effective amendments to each such Registration Statement, as may be
necessary to keep such Registration Statement effective for the applicable
period; cause each such Prospectus to be supplemented by any required
prospectus supplement, and as so 

 

10

 

supplemented to be filed pursuant to Rule 424 under the Securities Act
(or any similar rule then in force); and comply with the provisions of the
Securities Act with respect to the disposition of all securities covered by
each Registration Statement during the applicable period in accordance with the
intended method or methods of distribution by the selling Holders thereof, as
set forth in such registration statement;

 

(c)  furnish to each Holder of Registrable
Securities and to each Underwriter of an Underwritten Offering of Registrable
Securities, if any, without charge, as many copies of each Prospectus, including
each preliminary Prospectus, and any amendment or supplement thereto and such
other documents as such Holder or Underwriter may reasonably request in order
to facilitate the public sale or other disposition of the Registrable
Securities; the Company hereby consents to the use of the Prospectus, including
each preliminary Prospectus, by each Holder of Registrable Securities and each
Underwriter of an Underwritten Offering of Registrable Securities, if any, in
connection with the offering and sale of the Registrable Securities covered by
the Prospectus or the preliminary Prospectus;

 

(d)  (i)  use all reasonable efforts to register or
qualify the Registrable Securities, no later than the time the applicable
Registration Statement is declared effective by the SEC, under all applicable
state securities or “blue sky” laws of such jurisdictions as each Underwriter,
if any, or any Holder of Registrable Securities covered by a Registration
Statement, shall reasonably request; (ii)
use all reasonable efforts to keep each such registration or qualification
effective during the period such Registration Statement is required to be kept
effective; and (iii) do any and all other
acts and things which may be reasonably necessary or advisable to enable each
such Underwriter, if any, and Holder to consummate the disposition in each such
jurisdiction of such Registrable Securities owned by such Holder; provided, however, that
the Company shall not be obligated to qualify as a foreign corporation or as a
dealer in securities in any jurisdiction in which it is not so qualified or to
consent to be subject to general service of process (other than service of
process in connection with such registration or qualification or any sale of
Registrable Securities in connection therewith) in any such jurisdiction;

 

(e)  notify each Holder of Registrable Securities
promptly, and, if requested by such Holder, confirm such advice in writing, (i)
when a Registration Statement has become effective and when any post-effective
amendments and supplements thereto become effective, (ii) of the issuance by
the SEC or any state securities authority of any stop order, injunction or
other order or requirement suspending the effectiveness of a Registration
Statement or the initiation of any proceedings for that purpose, (iii) if,
between the effective date of a Registration Statement and the closing of any
sale of securities covered thereby pursuant to any agreement to which the
Company is a party, the representations and warranties of the Company contained
in such agreement cease to be true and correct in all material respects or if
the Company receives any notification with respect to the suspension of the
qualification of the Registrable Securities for sale in any jurisdiction or the
initiation of any proceeding for such purpose, and (iv) of the happening of any
event during the period a Registration Statement is effective as a result of
which such Registration Statement or the related Prospectus contains any 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;

 

11

 

(f)  furnish counsel for each such Underwriter, if
any, and for the Holders of Registrable Securities copies of any request by the
SEC or any state securities authority for amendments or supplements to a
Registration Statement and Prospectus or for additional information;

 

(g)  use all reasonable efforts to obtain the
withdrawal of any order suspending the effectiveness of a Registration
Statement at the earliest possible time;

 

(h)  upon request, furnish to the sole Underwriter
or lead managing Underwriter of an Underwritten Offering of Registrable
Securities, if any, without charge, at least one signed copy of each
Registration Statement and any post-effective amendment thereto, including
financial statements and schedules, all documents incorporated therein by
reference and all exhibits; and furnish to each Holder of Registrable Securities,
without charge, at least one conformed copy of each Registration Statement and
any post-effective amendment thereto (without documents incorporated therein by
reference or exhibits thereto, unless requested);

 

(i)  cooperate with the selling Holders of Registrable
Securities and the sole Underwriter or lead managing Underwriter of an
Underwritten Offering of Registrable Securities, if any, to facilitate the
timely preparation and delivery of certificates representing Registrable
Securities to be sold and not bearing any restrictive legends; and enable such
Registrable Securities to be in such denominations (consistent with the
provisions of the governing documents thereof) and registered in such names as
the selling Holders or the sole Underwriter or lead managing Underwriter of an
Underwritten Offering of Registrable Securities, if any, may reasonably request
at least five days prior to any sale of Registrable Securities;

 

(j)  upon the occurrence of any event contemplated
by paragraph (e)(iv) of this Section, use all reasonable efforts to prepare a
supplement or post-effective amendment to a Registration Statement or the
related Prospectus, or any document incorporated therein by reference, or file
any other required document so that, as thereafter delivered to the purchasers
of the Registrable Securities, such Prospectus will not contain any untrue
statement of a material fact or omit to state a material fact required to be
stated therein or necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading;

 

(k)  enter into customary agreements (including,
in the case of an Underwritten Offering, underwriting agreements in customary
form, and including provisions with respect to indemnification and contribution
in customary form and consistent with the provisions relating to
indemnification and contribution contained herein) and take all other customary
and appropriate actions in order to expedite or facilitate the disposition of
such Registrable Securities and in connection therewith:

 

(1)  make such representations
and warranties to the Holders of such Registrable Securities and the
Underwriters, if any, in form, substance and scope as are customarily made by
issuers to underwriters in similar underwritten offerings;

 

12

 

(2)  obtain opinions of counsel
to the Company and updates thereof (which counsel and opinions (in form, scope
and substance) shall be reasonably satisfactory to the lead managing Underwriter,
if any, and the Holders of a majority of the Registrable Securities being sold
by all Holders in such offering) addressed to each selling Holder and the
Underwriters, if any, covering the matters customarily covered in opinions
requested in sales of securities or underwritten offerings and such other
matters as may be reasonably requested by such Holders and Underwriters;

 

(3)  obtain “cold comfort”
letters and updates thereof from the Company’s independent certified public
accountants addressed to the selling Holders of Registrable Securities, if
permissible, and the Underwriters, if any, which letters shall be customary in
form and shall cover matters of the type customarily covered in “cold comfort”
letters to underwriters in connection with primary underwritten offerings;

 

(4)  to the extent requested and
customary for the relevant transaction, enter into a securities sales agreement
with the Holders providing for, among other things, the appointment of such
representative as agent for the selling Holders for the purpose of soliciting
purchases of Registrable Securities, which agreement shall be customary in
form, substance and scope and shall contain customary representations,
warranties and covenants; and

 

(5)  deliver such customary
documents and certificates as may be reasonably requested by the Majority
Holders selling Registrable Securities in such offering or by the managing
Underwriters, if any.

 

The above shall be done (i)
at the effectiveness of such Registration Statement (and each post-effective
amendment thereto) in connection with any registration, and (ii) at each
closing under any underwriting or similar agreement as and to the extent
required thereunder;

 

(l)  make available for inspection by
representatives of the Holders of the Registrable Securities and any
Underwriters participating in any disposition pursuant to a Registration
Statement and any counsel or accountant retained by such Holders or
Underwriters, all relevant financial and other records, pertinent corporate
documents and properties of the Company and cause the respective officers,
directors and employees of the Company to supply all information reasonably
requested by any such representative, Underwriter, counsel or accountant in
connection with a Registration Statement;

 

(m) (i)  within a reasonable time prior to the filing
of any Registration Statement, any Prospectus, any amendment to a Registration
Statement or amendment or supplement to a Prospectus, provide copies of such
document to the Holders of Registrable Securities and to counsel to such
Holders and to the Underwriter or Underwriters of an Underwritten Offering of
Registrable Securities, if any; fairly consider such reasonable changes in any
such document prior to or after the filing thereof as the counsel to the Holders
or the Underwriter or the Underwriters may request and not file any such
document in a form to which Holders of a majority of the Registrable Securities
being sold by all Holders in such offering or any 

 

13

 

Underwriter shall reasonably object; and make such of the
representatives of the Company as shall be reasonably requested by the Holders
of Registrable Securities being registered or any Underwriter available for
discussion of such document;

 

(ii)                                  within a reasonable time prior to the filing
of any document which is to be incorporated by reference into a Registration
Statement or a Prospectus, provide copies of such document to counsel for the
Holders; fairly consider such reasonable changes in such document prior to or
after the filing thereof as counsel for such Holders or such Underwriter shall
request; and make such of the representatives of the Company as shall be
reasonably requested by such counsel available for discussion of such document;

 

(n)  cause all Registrable Securities to be
qualified for inclusion in or listed on The New York Stock Exchange, the NASDAQ
National Market or any other securities exchange or quotation system on which
securities of the same class issued by the Company are then so qualified or
listed if so requested by the Holders of a majority of the Registrable Securities
being sold by all Holders in such offering, or if so requested by the
Underwriter or Underwriters of an Underwritten Offering of Registrable
Securities, if any;

 

(o)  otherwise use all reasonable efforts to
comply with all applicable rules and regulations of the SEC, including making
available to its security holders an earnings statement covering at least 12
months which shall satisfy the provisions of Section 11(a) of the Securities
Act and Rule 158 thereunder (or any similar provision then in force);

 

(p)  cooperate and assist in any filings required
to be made with the NASD and in the performance of any due diligence
investigation by any Underwriter in an Underwritten Offering; and

 

(q)  use all reasonable efforts to facilitate the
distribution and sale of any Registrable Securities to be offered pursuant to
this Agreement, including without limitation by making road show presentations,
holding meetings with potential investors and taking such other actions as
shall be requested by the Holders of a majority of the Registrable Securities
being sold by all Holders in such offering or the lead managing Underwriter of
an Underwritten Offering; provided that the
Company shall not be required to make road show presentations in connection
with any Underwritten Offering of Registrable Securities that would not
reasonably be expected to have gross proceeds of at least $50 million.

 

Each selling Holder of Registrable Securities as to
which any registration is being effected pursuant to this Agreement agrees, as
a condition to the registration obligations with respect to such Holder
provided herein, to furnish to the Company such information regarding such
Holder required to be included in the Registration Statement, the ownership of
Registrable Securities by such Holder and the proposed distribution by such
Holder of such Registrable Securities as the Company may from time to time
reasonably request in writing.

 

Each Holder agrees that, upon receipt of any notice
from the Company of the happening of any event of the kind described in
paragraph (e)(iv) of this Section, such Holder will forthwith discontinue
disposition of Registrable Securities pursuant to the affected 

 

14

 

Registration Statement until such Holder’s receipt of the copies of the
supplemented or amended Prospectus, contemplated by paragraph (j) of this
Section, and, if so directed by the Company, such Holder will deliver to the
Company (at the expense of the Company), all copies in its possession, other
than permanent file copies then in such Holder’s possession, of the Prospectus
covering such Registrable Securities which was current at the time of receipt of
such notice.

 

Section 5.   Indemnification; Contribution.

 

(a)  Indemnification
by the Company.  In the event any
Registrable Securities are included in a Registration Statement under this
Agreement or sold pursuant to an underwritten take-down in the case of a Shelf
Registration pursuant to Rule 415 of the Securities Act (or any similar rule
then in force), the Company agrees to indemnify and hold harmless each Person
who participates in the sale of Registrable Securities hereunder as an
underwriter (any such Person being an “Underwriter”), each Holder and
their respective partners, directors, officers and employees and each Person,
if any, who controls any Holder or Underwriter within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act as follows:

 

(i)                                     against any and all losses, liabilities,
claims, damages, judgments and reasonable expenses whatsoever, as incurred,
arising out of any untrue statement or alleged untrue statement of a material
fact contained in any Registration Statement pursuant to which Registrable
Securities were registered under the Securities Act, including all documents
incorporated therein by reference, or the omission or alleged omission therefrom
of a material fact required to be stated therein or necessary to make the
statements therein not misleading, or arising out of any untrue statement or
alleged untrue statement of a material fact contained in any Prospectus,
including all documents incorporated therein by reference, or the omission or
alleged omission therefrom of a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were
made, not misleading;

 

(ii)                                  against any and all losses, liabilities,
claims, damages, judgments and reasonable expenses whatsoever, as incurred, to
the extent of the aggregate amount paid in settlement of any litigation,
investigation or proceeding by any governmental agency or body, commenced or
threatened, or of any other claim whatsoever based upon any such untrue
statement or omission, or any such alleged untrue statement or omission, if
such settlement is effected with the written consent of the Company or any
violation by the Company of the Securities Act or the Exchange Act or any rule
or regulation thereunder applicable to the Company and relating to action or
inaction required of the Company in connection with any such registration,
qualification or compliance; and

 

(iii)                               against any and all reasonable expense
whatsoever (including fees and disbursements of counsel), as incurred in
investigating, preparing or defending against any litigation, investigation or
proceeding by any governmental agency or body, commenced or threatened, in each
case whether or not such Person is a party, or any claim whatsoever based upon
any such untrue statement or omission, or any such alleged untrue statement or
omission, to the extent that any such expense is not paid under sub-paragraph
(i) or (ii) above;

 

15

 

provided, however, that
this indemnity agreement does not apply to any Holder or Underwriter with
respect to any loss, liability, claim, damage, judgment or expense to the
extent arising out of any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement (or any amendment
thereto) or any Prospectus (or any amendment or supplement thereto), or the
omission or alleged omission therefrom of a material fact necessary to make the
statements therein, in the light of the circumstances under which they were
made, not misleading, in any such case made in reliance upon and in conformity
with written information furnished to the Company by such Holder or Underwriter
expressly for use in a Registration Statement (or any amendment thereto) or any
Prospectus (or any amendment or supplement thereto); provided, further,
that the Company shall not be liable to any Holder with respect to any
preliminary prospectus to the extent that any such loss, liability, claim,
damage, cost or expense results from the fact that such Holder sold Registrable
Securities to a Person to whom there was not sent or given, at or prior to the
written confirmation of such sale, a copy of the final prospectus if the
Company has previously and timely furnished copies thereof to such Holder and
if such final prospectus would have corrected such untrue statement or
omission.  Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of
any Holder Indemnified Party and shall survive the transfer of such securities
by any Holder.

 

(b)  Indemnification
by Holders.  Each selling Holder
severally but not jointly agrees to indemnify and hold harmless the Company,
each Underwriter, the other selling Holders and the Blackstone Investors, and
each of their respective partners, managers, officers and employees (including
each officer of the Company who signed the Registration Statement), and each
Person, if any, who controls the Company, any Underwriter or any other selling
Holder or the Blackstone Investors within the meaning of Section 15 of the
Securities Act, against any and all losses, liabilities, claims, damages,
judgments and expenses described in the indemnity contained in paragraph (a) of
this Section (provided that any settlement of the
type described therein is effected with the written consent of such selling
Holder), as incurred, but only with respect to untrue statements or alleged
untrue statements of a material fact contained in any Registration Statement or
Prospectus or omissions, or alleged omissions therefrom of a material fact
necessary to make the statements therein, in the light of the circumstances
under which they were made, not misleading, in any such case made in reliance
upon and in conformity with written information furnished to the Company by
such selling Holder expressly for use in such Registration Statement (or any
amendment thereto) or such Prospectus (or any amendment or supplement thereto).

 

(c)  Conduct
of Indemnification Proceedings.  Each
indemnified party or parties shall give reasonably prompt notice to each
indemnifying party or parties of any action or proceeding commenced against it
in respect of which indemnity may be sought hereunder, but failure so to notify
an indemnifying party or parties shall not relieve it or them from any
liability which it or they may have under this indemnity agreement, except to
the extent that the indemnifying party is materially prejudiced by such failure
to give notice.  If the indemnifying
party or parties so elects within a reasonable time after receipt of such
notice, the indemnifying party or parties may assume the defense of such action
or proceeding at such indemnifying party’s or parties’ expense with counsel
chosen by the indemnifying party or parties and approved by the indemnified
party defendant in such action or proceeding, which approval shall not be
unreasonably withheld; provided, however, that, if such indemnified party or parties 

 

16

 

determine in good faith that a conflict of interest exists and that
therefore it is advisable for such indemnified party or parties to be
represented by separate counsel or that, upon advice of counsel, there may be
legal defenses available to it or them which are different from or in addition
to those available to the indemnifying party, then the indemnifying party or
parties shall not be entitled to assume such defense and the indemnified party
or parties shall be entitled to separate counsel (limited in each jurisdiction
to one counsel for all Underwriters and separate counsel for each of the other
indemnified parties under this Agreement) at the indemnifying party’s or
parties’ expense.  If an indemnifying
party or parties is or are not so entitled to assume the defense of such action
or does or do not assume such defense, after having received the notice
referred to in the first sentence of this paragraph, the indemnifying party or
parties will pay the reasonable fees and expenses of counsel for the
indemnified party or parties (limited in each jurisdiction to one counsel for
all Underwriters and another counsel for all other indemnified parties under
this Agreement).  No indemnifying party
or parties will be liable for any settlement effected without the written
consent of such indemnifying party or parties. 
No indemnifying Party, in the defense of any such claim or litigation
shall, except with the consent of each indemnified Party, consent to entry of
any judgment or enter into any settlement which does not include as an unconditional
term thereof the giving by the claimant or plaintiff to such indemnified Party
of a release from all liability in respect to such claim or litigation.  Each indemnified Party shall furnish such
information regarding itself or the claim in question as an indemnifying Party
may reasonably request in writing and as shall be reasonably required in
connection with the defense of such claim and litigation resulting
therefrom.  If an indemnifying party is
entitled to assume, and assumes, the defense of such action or proceeding in
accordance with this paragraph, such indemnifying party or parties shall not be
liable for any fees and expenses of counsel for the indemnified parties
incurred thereafter in connection with such action or proceeding.

 

(d) 
Contribution.  (i)  In order to provide for just and equitable
contribution in circumstances in which the indemnity agreement provided for in
this Section is for any reason held to be unenforceable by the indemnified
parties although applicable in accordance with its terms in respect of any
losses, liabilities, claims, damages, judgments and expenses suffered by an
indemnified party referred to herein, each applicable 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,
liabilities, claims, damages, judgments and expenses in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one
hand and of the indemnified party (including, in each case, that of their
respective officers, directors, employees and agents) on the other in
connection with the statements or omissions which resulted in such losses,
liabilities, claims, damages, judgments or expenses, as well as any other
relevant equitable considerations.  The
relative fault of the indemnifying party on the one hand and of the indemnified
party (including, in each case, that of their respective officers, managers,
employees and agents) on the other 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 the indemnified party, on the one hand, or by or on
behalf of the indemnifying party, on the other, and the parties’ relative
intent, knowledge, access to information and opportunity to correct or prevent
such statement or omission.  The amount
paid or payable by a party as a result of the losses, liabilities, claims,
damages, judgments and 

 

17

 

expenses referred to above shall be deemed to include,
subject to the limitations set forth in paragraph (c) of this Section, any
reasonable legal or other fees or expenses reasonably incurred by such party in
connection with investigating or defending any action or claim.

 

(ii)                                  The Company and each Holder of Registrable
Securities agree that it would not be just and equitable if contribution
pursuant to this paragraph (d) were determined by pro rata
allocation or by any other method of allocation which does not take account of
the equitable considerations referred to in sub-paragraph (i) above.  Notwithstanding the provisions of this
paragraph (d), in the case of distributions to the public, an indemnifying
Holder shall not be required to contribute any amount in excess of the amount
by which (A) the total price at which the Registrable Securities sold by such
indemnifying Holder and its affiliated indemnifying Holders and distributed to
the public were offered to the public exceeds (B) the amount of any damages
which such indemnifying Holder 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.

 

(iii)                               For purposes of this Section, each Person, if
any, who controls a Holder or an Underwriter within the meaning of Section 15
of the Securities Act (and their respective partners, directors, officers and
employees) shall have the same rights to contribution as such Holder or
Underwriter; and each director of the Company, each officer of the Company who
signed the Registration Statement, and each Person, if any, who controls the
Company within the meaning of Section 15 of the Securities Act, shall have the
same rights to contribution as the Company.

 

Section 6.   Miscellaneous.

 

(a)  No Inconsistent Agreements.  The Company will not on or after the date of
this Agreement enter into any agreement which conflicts with the provisions of
this Agreement or which grants registration or similar rights without the prior
written consent of the Blackstone Investors.

 

(b)  Amendments
and Waivers.  The provisions of this
Agreement, including the provisions of this sentence, may not be amended,
modified or supplemented unless the Company has obtained (i) the prior written
consent of the Holders of a majority of the Registrable Securities, and (ii) if
any such amendment, modification or supplement would adversely affect the
rights, privileges or interests of the Blackstone Investors or the Senior
Managers hereunder, the prior written consent of the Blackstone Investors or
the Management Representative, respectively.

 

(c)  Notices.  Any notice, demand, request, waiver, or other
communication under this Agreement shall be personally served in writing, shall
be deemed to have been given on the date of service, and shall be addressed as
follows:

 

18

 

	
  To the Company:

  	
   

  	
  New Skies Satellites Holdings Ltd.

  
	
   

  	
   

  	
  Rooseveltplantsoen
  4

  
	
   

  	
   

  	
  2517 KR The
  Hague

  
	
   

  	
   

  	
  The
  Netherlands

  
	
   

  	
   

  	
  Fax:
  +31 (0) 70 306 4201

  
	
   

  	
   

  	
   

  
	
  With copies to:

  	
   

  	
  Thai
  E. Rubin

  
	
   

  	
   

  	
  Simpson
  Thacher & Bartlett LLP

  
	
   

  	
   

  	
  425
  Lexington Avenue

  
	
   

  	
   

  	
  New
  York, NY 10017

  
	
   

  	
   

  	
  Attention:
  Ed Chung

  
	
   

  	
   

  	
  Fax:
  (212) 455-2502

  
	
   

  	
   

  	
   

  
	
  To Blackstone Investors:

  	
   

  	
  The
  Blackstone Group

  
	
   

  	
   

  	
  345
  Park Avenue, 31st Floor

  
	
   

  	
   

  	
  New
  York, NY 10154

  
	
   

  	
   

  	
  Attention:
  Mark T. Gallogly

  
	
   

  	
   

  	
  Fax:
  (212) 583-5257

  
	
   

  	
   

  	
   

  
	
  With a copy to:

  	
   

  	
  Simpson
  Thacher & Bartlett LLP

  
	
   

  	
   

  	
  425
  Lexington Avenue

  
	
   

  	
   

  	
  New
  York, NY 10017

  
	
   

  	
   

  	
  Attention:
  Ed Chung

  
	
   

  	
   

  	
  Fax:
  (212) 455-2502

  
	
   

  	
   

  	
   

  
	
  To any Senior Manager:

  	
   

  	
  c/o
  New Skies Satellites Holdings Ltd.

  
	
   

  	
   

  	
  Rooseveltplantsoen
  4

  
	
   

  	
   

  	
  2517 KR The
  Hague

  
	
   

  	
   

  	
  The
  Netherlands

  
	
   

  	
   

  	
  Fax:
  +31 (0) 70 306 4201

  
	
   

  	
   

  	
   

  
	
  To any other Holder:

  	
   

  	
  At
  the address set forth on the attached signature page.

  

 

(d)  Successors
and Assigns.  This Agreement shall
inure to the benefit of and be binding upon the successors, assigns and
transferees of each of the parties, including, without the need for an express
assignment, subsequent Holders.  If any
successor, assignee or transferee of any Holder shall acquire Registrable
Securities in any manner, whether by operation of law or otherwise, such
Registrable Securities shall be held subject to all of the terms of this
Agreement, and by taking and holding such Registrable Securities such Person
shall be conclusively deemed to have agreed to be bound by and to perform all
of the terms and provisions of this Agreement. For purposes of this Agreement, “successor”
for any entity other than a natural person shall mean 

 

19

 

a successor to such entity as a result of such entity’s merger,
consolidation, liquidation, dissolution, sale of substantially all of its
assets, or similar transaction.

 

(e)  Recapitalizations,
Exchanges, etc., Affecting Registrable Securities.  The provisions of this Agreement shall apply,
to the full extent set forth herein with respect to the Registrable Securities,
to any and all securities or capital stock of the Company or any successor or
assign of the Company (whether by merger, consolidation, sale of assets or
otherwise) which may be issued in respect of, in exchange for, or in
substitution of such Registrable Securities, by reason of any dividend, split,
issuance, reverse split, combination, recapitalization, reclassification,
merger, consolidation or otherwise.

 

(f)  Counterparts.  This Agreement may be executed in two or more
counterparts, each of which, when so executed and delivered, shall be deemed to
be an original, but all of which counterparts, taken together, shall constitute
one and the same instrument.

 

(g)  Descriptive
Headings, etc.  The headings in this
Agreement are for convenience of reference only and shall not limit or
otherwise affect the meaning of terms contained herein.  Unless the context of this Agreement
otherwise requires:  (1) words of any gender shall be deemed to
include each other gender; (2) words
using the singular or plural number shall also include the plural or singular
number, respectively; (3) the words “hereof”,
“herein” and “hereunder” and words of similar import when used in this
Agreement shall refer to this Agreement as a whole and not to any particular
provision of this Agreement, and Article, Section and paragraph references are
to the Articles, Sections and paragraphs to this Agreement unless otherwise
specified; (4) the word “including” and
words of similar import when used in this Agreement shall mean “including,
without limitation,” unless otherwise specified; (5) “or” is not exclusive; and (6)
provisions apply to successive events and transactions.

 

(h)  Severability.  In the event that any one or more of the
provisions, paragraphs, words, clauses, phrases or sentences 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, paragraph, word, clause, phrase or
sentence in every other respect and of the other remaining provisions,
paragraphs, words, clauses, phrases or sentences hereof shall not be in any way
impaired, it being intended that all rights, powers and privileges of the
parties hereto shall be enforceable to the fullest extent permitted by law.

 

(i)  Governing
Law.  THIS AGREEMENT SHALL BE
CONSTRUED IN ACCORDANCE WITH, AND GOVERNED BY, THE LAWS OF THE STATE OF NEW
YORK.

 

(j)  Specific
Performance.  The parties hereto
acknowledge that there would be no adequate remedy at law if any party fails to
perform in any material respect any of its obligations hereunder, and
accordingly agree that each party, in addition to any other remedy to which it
may be entitled at law or in equity, shall be entitled to compel specific
performance of the obligations of any other party under this Agreement in
accordance with the terms and conditions of this Agreement.

 

20

 

(k)  Jurisdiction.  The parties hereby irrevocably and
unconditionally consent to submit to the exclusive jurisdiction of the courts
of the State of New York for any
actions, suits or proceedings arising out of or relating to this agreement and
the transactions contemplated hereby (and agree not to commence any action,
suit or proceeding relating thereto except in such courts, and further agree
that service of any process, summons, notice or document by U.S. registered
mail to the address specified in Section 6(d) shall be effective service of
process for any action, suit or proceeding brought against such party in any
such court).  The parties herby
irrevocably and unconditionally waive any objection to the laying of venue of
any action, suit or proceeding arising out of this agreement or the
transactions contemplated hereby in the courts of the State of New York, and
hereby further irrevocably and unconditionally waive and agree not to plead or
claim in any such court that any such action, suit or proceeding brought in any
such court has been brought in an inconvenient forum.

 

(l)  Waiver
of Jury Trial.  EACH OF THE PARTIES HERETO HEREBY
IRREVOCABLY WAIVES ANY AND ALL RIGHT TO TRIAL BY JURY IN ANY LEGAL PROCEEDING
ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED
HEREBY.

 

(m)  Entire
Agreement.  This Agreement is
intended by the parties as a final expression of their agreement and intended
to be a complete and exclusive statement of the agreement and understanding of
the parties hereto in respect of the subject matter contained herein.  This Agreement supersedes all prior
agreements and understandings between the Company, on the one hand, and the
other parties to this Agreement, on the other, with respect to such subject
matter.

 

*                    *                    *

 

21

 

IN WITNESS WHEREOF, the parties hereto have caused this
Agreement to be duly executed as of the date first written above.

 

 

	
   

  	
  Blackstone Investors:

  
	
   

  	
   

  	
   

  
	
   

  	
  BLACKSTONE NSS
  COMMUNICATIONS PARTNERS

  (CAYMAN) L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A.
  Magliano

  	
   

  
	
   

  	
   

  	
  By:

  	
  Blackstone
  Communications Management 

  
	
   

  	
   

  	
  Associates
  (Cayman), L.P., its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A.
  Magliano

  	
   

  
	
   

  	
   

  	
  By:

  	
  Blackstone FI
  Communications Associates 

  
	
   

  	
   

  	
  (Cayman) LDC,
  its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BLACKSTONE
  FAMILY COMMUNICATIONS

  PARTNERSHIP (CAYMAN) L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A.
  Magliano

  	
   

  
	
   

  	
   

  	
  By:

  	
  Blackstone
  Communications Management

  Associates (Cayman) L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A.
  Magliano

  	
   

  
	
   

  	
   

  	
  By:

  	
  Blackstone FI
  Communications Associates

  (Cayman) LDC, its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BLACKSTONE
  CAPITAL PARTNERS (CAYMAN) IV

  L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A.
  Magliano

  	
   

  
	
   

  	
   

  	
  By:  Blackstone Management Associates (Cayman) 

  IV L.P., its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A.
  Magliano

  	
   

  
	
   

  	
   

  	
  By:  Blackstone LR Associates (Cayman) IV Ltd.

  
					

 

Signature Page to
Registration Rights Agreement

 

 

	
   

  	
  BLACKSTONE CAPITAL
  PARTNERS (CAYMAN) IV-

  A L.P.

  
	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A. Magliano

  	
   

  
	
   

  	
   

  	
  By:  Blackstone Management Associates (Cayman)

  IV L.P., its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A. Magliano

  	
   

  
	
   

  	
   

  	
  By:  Blackstone LR Associates (Cayman) IV Ltd.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  BLACKSTONE FAMILY
  INVESTMENT

  PARTNERSHIP (CAYMAN) IV-A L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A. Magliano

  	
   

  
	
   

  	
   

  	
  By:  Blackstone Management Associates (Cayman)

  IV L.P., its General Partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ John A. Magliano

  	
   

  
	
   

  	
   

  	
  By:  Blackstone LR Associates (Cayman) IV Ltd.

  

 

 

	
   

  	
   

  	
  Senior Managers:

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Daniel S. Goldberg

  	
   

  
	
   

  	
   

  	
  Name: Daniel S. Goldberg

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Andrew M. Browne

  	
   

  
	
   

  	
   

  	
  Name: Andrew M. Browne

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Thai E. Rubin

  	
   

  
	
   

  	
   

  	
  Name: Thai E. Rubin

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Michael C. Schwartz

  	
   

  
	
   

  	
   

  	
  Name: Michael C. Schwartz

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Scott J. Sprague

  	
   

  
	
   

  	
   

  	
  Name: Scott J. Sprague

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  /s/ Stephen J. Stott

  	
   

  
	
   

  	
   

  	
  Name: Stephen J. Stott

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00085-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00085-of-00352.parquet"}]]