Document:

exhibit10-101.htm

Exhibit 10.101

 

AMENDMENT TO

 

MANAGEMENT COMPENSATION AGREEMENT

 

AMENDMENT dated as of March 20, 2012, to the Management Compensation Agreement for the Vice President and Chief Operating Officer of Pinnacle Airlines Corp. dated as of October 1, 2011 (the “Agreement”) by and between Pinnacle Airlines Corp., a Delaware corporation (“Company”) and JOHN SPANJERS (“Executive”).

 

RECITALS

 

WHEREAS, Executive’s responsibilities have increased, inter alia, due to the impending departure of Edward M. Christie as Vice President and Chief Financial Officer of the Company and the Company’s restructuring initiatives, and will henceforth include, but not be limited to, the following additional responsibilities: (a) overseeing the Company’s purchasing function, (b) overseeing the Company’s IT department and technology initiatives, (c) overseeing and coordinating the Company’s interactions with regulatory authorities, (d) negotiating with key partners and stakeholders in connection with an operational restructuring and (e) structuring and implementing any fleet rationalization plan.

 

WHEREAS, Company and Executive wish to amend the Agreement on the terms set forth herein.

 

NOW, THEREFORE, in consideration of the mutual promises and agreements contained herein, Company and Executive, intending to be legally bound, hereby agree as follows:

 

1.           Defined Terms; References.  Unless otherwise specifically defined herein, each term used herein that is defined in the Agreement has the meaning assigned to such term in the Agreement.  Each reference to “hereof”, “hereunder”, “herein” and “hereby” and each other similar reference and each reference to “this Agreement” and each other similar reference contained in the Agreement shall, after this Amendment becomes effective, refer to the Agreement as amended hereby.

 

2.           Position.  The Agreement is amended by changing “Vice President and Chief Operating Officer” to “Executive Vice President and Chief Operating Officer” in each place that such phrase appears in the Agreement, including in Section 1.2 thereof and in the “Position” provision of Attachment “A” thereof.

 

3.           Base Salary.  The Base Salary provision in Attachment “A” to the Agreement is amended by changing “$275,000” to “$400,000”.

 

4.           Governing Law.  The validity, interpretation, construction and performance of this Amendment shall be governed by the laws of the State of Tennessee, without regard to principles of conflicts of laws.

 

5.           Counterparts. This Amendment may be signed in any number of counterparts, each of which shall be an original, with the same effect as if the signatures thereto and hereto were upon the same instrument.

 

IN WITNESS WHEREOF, Company and Executive have executed this Agreement as of the day and year first above written.

 

 

	 	 PINNACLE AIRLINES CORP.
	 	 
	 By:	/s/ Donald J. Breeding
	 	 Donald J. Breeding
	 	 Chairman of the Board

 

	 	EXECUTIVE
	 	 
	 By:	/s/ John Spanjers
	 	 John SpanjersForm of Subscription Rights Certificate

 Exhibit 4.1 

 

					
	RIGHTS CERTIFICATE #:	  	NUMBER OF RIGHTS	 	

	  
 THE TERMS AND CONDITIONS OF THE RIGHTS
OFFERING ARE SET FORTH IN THE COMPANY’S PROSPECTUS
 DATED
                 , 2012 (THE “PROSPECTUS”) AND ARE INCORPORATED HEREIN BY REFERENCE. COPIES OF

THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM PHOENIX ADVISORY PARTNERS, THE INFORMATION AGENT.

 
 Motricity, Inc.

Incorporated under the laws of the State of Delaware

 
 SUBSCRIPTION RIGHTS CERTIFICATE

 

Evidencing Subscription Rights to Purchase Units Consisting of      
        Shares of Common Stock and              Shares
 of 8% Redeemable Series J Preferred Stock of Motricity, Inc.
  
 Subscription Price: $             per Unit
  

THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE 5:00 P.M., NEW YORK CITY TIME,

ON                  , 2012, UNLESS EXTENDED BY THE BOARD
OF DIRECTORS OF THE COMPANY
  
 REGISTERED

         OWNER:

 
	 
	THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the owner of the number of subscription rights set forth above. Each whole subscription right entitles the
holder thereof to subscribe for and purchase one unit consisting of              shares of common stock, par value $0.001 per share and
             shares of 8% Redeemable Series J preferred stock, which is referred to as “Series J preferred stock,” par value $0.001 per share, of Motricity, Inc., a Delaware
corporation, at a subscription price of $             per unit, pursuant to a rights offering (the “Rights Offering”), on the terms and subject to the conditions set forth in the
Prospectus and the “Instructions as to Use of Subscription Rights Certificates” accompanying this Subscription Rights Certificate.	  	If any units available for purchase in the Rights Offering are not purchased by other holders of subscription rights pursuant to the exercise of their basic subscription privilege,
any rights holder that exercises its basic subscription privilege may exercise its over-subscription privilege and subscribe for a number of unsubscribed units, pursuant to the terms and conditions of the Rights Offering, subject to proration and
certain limitations, as described in the Prospectus. The rights represented by this Subscription Rights Certificate may be exercised by completing Form 1 and any other appropriate forms on the reverse side hereof and by returning the full payment of
the subscription price for each unit in accordance with the “Instructions as to Use of Subscription Rights Certificates” that accompany this Subscription Rights Certificate.	 
	  
 This Subscription Rights Certificate is not valid
unless countersigned by the subscription agent and registered by the registrar.
  
 Witness the seal of Motricity, Inc. and the signatures of its duly authorized officers.
  

Dated:
	 

  

					
	  
	 		 	  

	President, Chief Executive Officer	 		 	 Chief Financial Officer, Treasurer and

	and Principal Executive Officer	 		 	 Principal Financial Officer

 DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE 

Delivery other than in the manner or to the addresses listed below will not constitute valid delivery. 

American Stock Transfer & Trust Company, LLC 
 Attn: Corporate Actions 
 6201 15th Avenue 

Brooklyn, New York 11219 
 PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY. 

 

 FORM 1-EXERCISE OF SUBSCRIPTION RIGHTS 
 To subscribe for units pursuant to your basic subscription privilege, please complete lines (a) and (c) and sign under Form 4 below. To subscribe for units pursuant to your over-subscription
privilege, please also complete line (b) and sign under Form 4 below. To the extent you subscribe for more units than you are entitled under either the basic subscription privilege or the over-subscription privilege, you will be deemed to have
elected to purchase the maximum number of units for which you are entitled to subscribe under the basic subscription privilege or over-subscription privilege, as applicable. To the extent that you properly exercise your rights for a number of units
that exceeds the number of unsubscribed units that are available to you, any excess subscription payments will be returned to you as soon as practicable, without interest or penalty, following the expiration of the Rights Offering. 

(a) EXERCISE OF BASIC SUBSCRIPTION PRIVILEGE: 
  

									
	I apply for	 	  
	 	units x $            	 	= $	 	  

		 	(no. of new units)	 	              (subscription price)	 		 	(amount enclosed)

 (b) EXERCISE OF OVER-SUBSCRIPTION PRIVILEGE: 
 If you have exercised your basic subscription privilege and wish to subscribe for additional units pursuant to your over-subscription privilege: 

 

									
	I apply for	 	  
	 	units x $            	 	= $	 	  

		 	(no. of new units)	 	              (subscription price)	 		 	(amount enclosed)

 (c) Total Amount of Payment Enclosed =
$                    

 METHOD OF PAYMENT (CHECK ONE) 

 

			
	 ̈	  	 Certified or uncertified check payable to “American Stock Transfer & Trust Company, LLC as Subscription
Agent.”

		
	 ̈	  	 Bank draft (cashier’s check) payable to “American Stock Transfer & Trust Company, LLC as Subscription
Agent.”

		
	 ̈	  	 U.S. postal money order payable to “American Stock Transfer & Trust Company, LLC as Subscription
Agent.”

		
	 ̈	  	 Wire transfer of immediately available funds directly to the account maintained by American Stock Transfer & Trust
Company, LLC, as Subscription Agent, for purposes of accepting subscriptions in this Rights Offering at JPMorgan Chase Bank, 55 Water Street, New York, New York 10005, ABA #021000021, Account # 530-354624 American Stock Transfer FBO Motricity, Inc.,
with reference to the rights holder’s name.

 FORM 2-TRANSFER TO DESIGNATED TRANSFEREE 
 To transfer your subscription rights to another person, complete this Form 2 and have your signature guaranteed under Form 5. 
 For value received                      of the subscription rights represented by this Subscription
Rights Certificate are assigned to: 
  
  

 
  
  

			
	Social Security #	 	  

			
		
	Signature(s):	 	  

 IMPORTANT: The signature(s) must correspond with the name(s) as printed on the reverse of this Subscription Rights
Certificate in every particular, without alteration or enlargement, or any other change whatsoever. 

 

 FORM 3-DELIVERY TO DIFFERENT ADDRESS 
 If you wish for shares of Series J preferred stock or common stock underlying your subscription rights to be delivered to an address different from that shown on the face of this Subscription Rights
Certificate, please enter the alternate address below, sign under Form 4 and have your signature guaranteed under Form 5. 
  

 
  

 
  

 
 FORM 4-SIGNATURE 

TO SUBSCRIBE: I acknowledge that I have received the Prospectus for this Rights Offering and I hereby irrevocably subscribe for the number of units
indicated above on the terms and conditions specified in the Prospectus.

			
	Signature(s):	 	  

 IMPORTANT: The signature(s) must correspond with the name(s) as printed on the reverse of this Subscription Rights
Certificate in every particular, without alteration or enlargement, or any other change whatsoever. 
 FORM 5-SIGNATURE GUARANTEE

 This form must be completed if you have completed any portion of Forms 2 or 3. 

 

			
	Signature Guaranteed:	 	  

		 	(Name of Bank or Firm)    

			
		
	By:	 	  

		 	     (Signature of Officer)

 IMPORTANT: The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker,
savings & loan association or credit union) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15.

 

  
 FOR INSTRUCTIONS ON
THE USE OF MOTRICITY, INC.’S SUBSCRIPTION RIGHTS CERTIFICATES, CONSULT PHOENIX ADVISORY PARTNERS, THE INFORMATION AGENT, AT 800-499-6377 (FOR INDIVIDUALS) OR 212-493-3910 (FOR BANKS AND BROKERS)

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