Document:

exv4w4

Exhibit 4.4

REGISTRATION RIGHTS AGREEMENT

by and between

VANGUARD HEALTH SYSTEMS, INC.

and

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

Goldman, Sachs & Co.

Morgan Stanley & Co. Incorporated

Dated as of January 26, 2011

 

 

REGISTRATION RIGHTS AGREEMENT

     This Registration Rights Agreement (this “Agreement”) is made and entered into as of January
26, 2011, by and between Vanguard Health Systems, Inc., a Delaware corporation (the “Issuer”), and
Merrill Lynch, Pierce, Fenner & Smith Incorporated and Barclays Capital Inc. on behalf of
themselves and as representatives of the several initial purchasers listed on Schedule I hereto
(collectively, the “Initial Purchasers”), each of whom has agreed to purchase the Issuer’s 10.375%
Senior Discount Notes due 2016 (the “Initial Securities”) pursuant to the Purchase Agreement (as
defined below).

     This Agreement is made pursuant to the Purchase Agreement, dated January 21, 2011 (the
“Purchase Agreement”), between the Issuer and the Initial Purchasers (i) for the benefit of the
Initial Purchasers and (ii) for the benefit of the holders from time to time of the Initial
Securities, including the Initial Purchasers. In order to induce the Initial Purchasers to
purchase the Initial Securities, the Issuer has agreed to provide the registration rights set forth
in this Agreement. The execution and delivery of this Agreement is a condition to the obligations
of the Initial Purchasers set forth in Section 5(f) of the Purchase Agreement.

     The parties hereby agree as follows:

     SECTION 1. Definitions. As used in this Agreement, the following capitalized terms shall have
the following meanings:

     Accreted Value: As defined in the Indenture.

     Additional Interest: As defined in Section 5 hereof.

     Broker-Dealer: Any broker or dealer registered under the Exchange Act.

     Business Day: Any day other than a Saturday, Sunday or U.S. federal holiday or a day on which
banking institutions or trust companies located in New York, New York are authorized or obligated
to be closed.

     Closing Date: The date of this Agreement.

     Commission: The Securities and Exchange Commission.

     Consummate: A registered Exchange Offer shall be deemed “Consummated” for purposes of this
Agreement upon the occurrence of (i) the filing and effectiveness under the Securities Act of the
Exchange Offer Registration Statement relating to the Exchange Securities to be issued in the
Exchange Offer, (ii) the maintenance of such Registration Statement continuously effective and the
keeping of the Exchange Offer open for a period not less than the minimum period required pursuant
to Section 3(b) hereof, and (iii) the delivery by the Issuer to the Registrar under the Indenture
of Exchange Securities in the same aggregate principal amount at maturity as the aggregate
principal amount at maturity of Initial Securities that were tendered by Holders thereof pursuant
to the Exchange Offer.

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     Exchange Act: The Securities Exchange Act of 1934, as amended.

     Exchange Offer: The registration by the Issuer under the Securities Act of the Exchange
Securities pursuant to a Registration Statement pursuant to which the Issuer offers the Holders of
all outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding
Transfer Restricted Securities held by such Holders for Exchange Securities in an aggregate
principal amount at maturity equal to the aggregate principal amount at maturity of the Transfer
Restricted Securities tendered in such exchange offer by such Holders.

     Exchange Offer Registration Statement: The Registration Statement relating to the Exchange
Offer, including the related Prospectus.

     Exempt Resales: The transactions in which the Initial Purchasers propose to sell the Initial
Securities to certain “qualified institutional buyers,” as such term is defined in Rule 144A under
the Securities Act and to certain non-U.S. persons pursuant to Regulation S under the Securities
Act.

     Exchange Securities: The 10.375% Senior Discount Notes due 2016, of the same series under the
Indenture as the Initial Securities attached thereto, to be issued to Holders in exchange for
Transfer Restricted Securities pursuant to this Agreement.

     FINRA: The Financial Industry Regulatory Authority.

     Holders: As defined in Section 2(b) hereof.

     Indemnified Holder: As defined in Section 8(a) hereof.

     Indenture: The Indenture, dated as of January 26, 2010, by and between the Issuer and U.S.
Bank National Association, as trustee (the “Trustee”), pursuant to which the Initial Securities are
to be issued, as such Indenture is amended or supplemented from time to time in accordance with the
terms thereof.

     Initial Purchasers: As defined in the preamble hereto.

     Initial Placement: The issuance and sale by the Issuer of the Initial Securities to the
Initial Purchasers pursuant to the Purchase Agreement.

     Initial Securities. As defined in the preamble hereto.

     Person: An individual, partnership, corporation, trust or unincorporated organization, or a
government or agency or political subdivision thereof.

     Prospectus: The prospectus included in a Registration Statement, as amended or supplemented
by any prospectus supplement and by all other amendments thereto, including post-effective
amendments, and all material incorporated by reference into such Prospectus.

     Registration Default: As defined in Section 5 hereof.

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     Registration Statement: Any registration statement of the Issuer relating to (a) an offering
of Exchange Securities pursuant to an Exchange Offer or (b) the registration for resale of Transfer
Restricted Securities pursuant to the Shelf Registration Statement, which is filed pursuant to the
provisions of this Agreement, in each case, including the Prospectus included therein, all
amendments and supplements thereto (including post-effective amendments) and all exhibits and
material incorporated by reference therein.

     Securities Act: The Securities Act of 1933, as amended.

     Shelf Filing Deadline: As defined in Section 4(a) hereof.

     Shelf Registration Statement: As defined in Section 4(a) hereof.

     Shelf Suspension Period: As defined in Section 4(a) hereof.

     Transfer Restricted Securities: Each Initial Security, until the earliest to occur of (a) the
date on which such Initial Security is exchanged in the Exchange Offer for an Exchange Security
entitled to be resold to the public by the Holder thereof without complying with the prospectus
delivery requirements of the Securities Act, (b) the date on which such Initial Security has been
effectively registered under the Securities Act and disposed of in accordance with a Shelf
Registration Statement, (c) the date on which such Initial Security is distributed to the public by
a Broker-Dealer pursuant to the “Plan of Distribution” contemplated by the Exchange Offer
Registration Statement (including delivery of the Prospectus contained therein) and (d) the later
of (x) the date which is two years after the date the Initial Securities were originally issued and
(y) the date upon which such Initial Security has been resold in compliance with Rule 144 under the
Securities Act; provided that such Initial Security no longer bears any restrictive legend relating
to the Securities Act and does not bear a restricted CUSIP number.

     Trust Indenture Act: The Trust Indenture Act of 1939, as amended.

     Underwritten Registration or Underwritten Offering: A registration in which securities of the
Issuer are sold to an underwriter for reoffering to the public.

     SECTION 2. Securities Subject to this Agreement.

     (a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement
are the Transfer Restricted Securities.

     (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer
Restricted Securities (each, a “Holder”) whenever such Person owns Transfer Restricted Securities.

     SECTION 3. Registered Exchange Offer.

     (a) Unless the Exchange Offer shall not be permissible under applicable law or Commission
policy (after the procedures set forth in Section 6(a) hereof have been complied with), the Issuer
shall use its reasonable best efforts to (i) cause to be filed with the Commission

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a Registration Statement under the Securities Act relating to the Exchange Securities and the
Exchange Offer, (ii) cause such Registration Statement to become effective at the earliest possible
time, (iii) in connection with the foregoing, file (A) all pre-effective amendments to such
Registration Statement as may be necessary in order to cause such Registration Statement to become
effective, (B) if applicable, a post-effective amendment to such Registration Statement pursuant to
Rule 430A under the Securities Act and (C) cause all necessary filings in connection with the
registration and qualification of the Exchange Securities to be made under the state securities or
blue sky laws of such jurisdictions as are necessary to permit Consummation of the Exchange Offer,
and (iv) upon the effectiveness of such Registration Statement, commence the Exchange Offer. The
Exchange Offer shall be on the appropriate form permitting registration of the Exchange Securities
to be offered in exchange for the Transfer Restricted Securities and to permit resales of Initial
Securities held by Broker-Dealers as contemplated by Section 3(c) hereof.

     (b) The Issuer shall cause the Exchange Offer Registration Statement to be effective
continuously and shall keep the Exchange Offer open for a period of not less than the minimum
period required under applicable federal and state securities laws to Consummate the Exchange
Offer; provided, however, that in no event shall such period be less than 20 Business Days after
the date notice of the Exchange Offer is mailed to the Holders. The Issuer shall cause the
Exchange Offer to comply with all applicable federal and state securities laws. No securities
other than the Exchange Securities, Vanguard Health Holding Company II, LLC’s and Vanguard Holding
Company II, Inc.’s 8% Senior Notes due 2018 and their 7.750% Senior Notes due 2019 shall be
included in the Exchange Offer Registration Statement. The Issuer shall use its reasonable best
efforts to cause the Exchange Offer to be Consummated on the earliest practicable date after the
Exchange Offer Registration Statement has become effective, but in no event later than 360 days
after the Closing Date (or if such 360th day is not a Business Day, the next succeeding Business
Day).

     (c) The Issuer shall indicate in a “Plan of Distribution” section contained in the Prospectus
forming a part of the Exchange Offer Registration Statement that any Broker-Dealer who holds
Initial Securities that are Transfer Restricted Securities and that were acquired for its own
account as a result of market-making activities or other trading activities (other than Transfer
Restricted Securities acquired directly from the Issuer), may exchange such Initial Securities
pursuant to the Exchange Offer; however, such Broker-Dealer may be deemed to be an “underwriter”
within the meaning of the Securities Act and must, therefore, deliver a prospectus meeting the
requirements of the Securities Act in connection with any resales of the Exchange Securities
received by such Broker-Dealer in the Exchange Offer, which prospectus delivery requirement may be
satisfied by the delivery by such Broker-Dealer of the Prospectus contained in the Exchange Offer
Registration Statement. Such “Plan of Distribution” section shall also contain all other
information with respect to such resales by Broker-Dealers that the Commission may require in order
to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such
Broker-Dealer or disclose the amount of Initial Securities held by any such Broker-Dealer except to
the extent required by the Commission as a result of a change in policy after the date of this
Agreement.

     The Issuer shall use its reasonable best efforts to keep the Exchange Offer Registration
Statement continuously effective, supplemented and amended as required by the provisions of

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Section 6(c) hereof to the extent necessary to ensure that it is available for resales of
Initial Securities acquired by Broker-Dealers for their own accounts as a result of market-making
activities or other trading activities, and to ensure that it conforms with the requirements of
this Agreement, the Securities Act and the policies, rules and regulations of the Commission as
announced from time to time, for a period ending on the earlier of (i) 180 days from the date on
which the Exchange Offer Registration Statement is declared effective and (ii) the date on which a
Broker-Dealer is no longer required to deliver a prospectus in connection with market-making or
other trading activities.

     The Issuer shall provide sufficient copies of the latest version of such Prospectus to
Broker-Dealers promptly upon request at any time during such 180-day (or shorter as provided in the
foregoing sentence) period in order to facilitate such resales.

     SECTION 4. Shelf Registration.

     (a) Shelf Registration. If (i) the Issuer is not required to file an Exchange Offer
Registration Statement or to consummate the Exchange Offer because the Exchange Offer is not
permitted by applicable law or Commission policy (after the procedures set forth in Section 6(a)
hereof have been complied with), (ii) for any reason the Exchange Offer is not Consummated within
360 days after the Closing Date (or if such 360th day is not a Business Day, the next succeeding
Business Day), or (iii) with respect to any Holder of Transfer Restricted Securities (A) such
Holder is prohibited by applicable law or Commission policy from participating in the Exchange
Offer, or (B) such Holder may not resell the Exchange Securities acquired by it in the Exchange
Offer to the public without delivering a prospectus and that the Prospectus contained in the
Exchange Offer Registration Statement is not appropriate or available for such resales by such
Holder, or (C) such Holder is a Broker-Dealer and holds Initial Securities acquired directly from
the Issuer or one of its affiliates, then, upon such Holder’s request, the Issuer shall

     (x) cause to be filed a shelf registration statement pursuant to Rule 415 under the
Securities Act, which may be an amendment to the Exchange Offer Registration Statement (in
either event, the “Shelf Registration Statement”) on or prior to the earliest to occur of
(1) the 90th day after the date on which the Issuer determines that it is not required to
file the Exchange Offer Registration Statement and (2) the 90th day after the date on which
the Issuer receives notice from a Holder of Transfer Restricted Securities as contemplated
by clause (ii) above (such date being the “Shelf Filing Deadline”), which Shelf Registration
Statement shall provide for resales of all Transfer Restricted Securities the Holders of
which shall have provided the information required pursuant to Section 4(b) hereof; and

     (y) use its reasonable best efforts to cause such Shelf Registration Statement to be
declared effective by the Commission on or before the 90th day after the Shelf Filing
Deadline (or if such 90th day is not a Business Day, the next succeeding Business Day).

     The Issuer shall use its reasonable best efforts to keep such Shelf Registration Statement
continuously effective, supplemented and amended as required by the provisions of Sections 6(b) and
(c) hereof to the extent necessary to ensure that it is available for resales of Initial Securities

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by the Holders of Transfer Restricted Securities entitled to the benefit of this Section 4(a),
and to ensure that it conforms with the requirements of this Agreement, the Securities Act and the
policies, rules and regulations of the Commission as announced from time to time, for a period of
at least two years following the effective date of such Shelf Registration Statement (or shorter
period that will terminate when all the Initial Securities covered by such Shelf Registration
Statement have been sold pursuant to such Shelf Registration Statement).

     Notwithstanding anything to the contrary in this Agreement, at any time the Issuer may delay
the filing of any Shelf Registration Statement or delay or suspend the effectiveness thereof, for a
reasonable period of time, but not in excess of 60 consecutive days or more than three (3) times
during any calendar year (each, a “Shelf Suspension Period”), if the Board of Directors of
the Issuer determines reasonably and in good faith that the filing of any such initial Shelf
Registration Statement or the continuing effectiveness thereof would require the disclosure of
material non-public information that, in the reasonable judgment of the Board of Directors of the
Issuer, would be detrimental to the Issuer if so disclosed or would otherwise materially adversely
affect a financing, acquisition, disposition, merger or other material transaction or such action
is required by applicable law.

     (b) Provision by Holders of Certain Information in Connection with the Shelf Registration
Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted
Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such
Holder furnishes to the Issuer in writing, within 20 Business Days after receipt of a request
therefor, such information as the Issuer may reasonably request for use in connection with any
Shelf Registration Statement or Prospectus or preliminary Prospectus included therein. Each Holder
as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the
Issuer all information required to be disclosed in order to make the information previously
furnished to the Issuer by such Holder not materially misleading.

     SECTION 5. Additional Interest. If (i) the Exchange Offer has not been Consummated within 360
days after the Closing Date or (ii) any Registration Statement required by this Agreement is filed
and declared effective but shall thereafter cease to be effective or fail to be usable for its
intended purpose without being succeeded immediately by a post-effective amendment to such
Registration Statement that cures such failure and that is itself immediately declared effective
(each such event referred to in clauses (i) and (ii), a “Registration Default”), the Issuer hereby
agrees that the interest rate borne by the Transfer Restricted Securities shall be increased by
0.25% per annum on the then Accreted Value of the Transfer Restricted Securities during the 90-day
period immediately following the occurrence of any Registration Default and shall increase by 0.25%
per annum on the then Accreted Value of the Transfer Restricted Securities at the end of each
subsequent 90-day period (such increases, “Additional Interest”), but in no event shall
such increase exceed 1.00% per annum. Any amounts of Additional Interest due pursuant to this
Section 5 shall be added to the Accreted Value of the Transfer Restricted Securities. Following
the cure of all Registration Defaults relating to any particular Transfer Restricted Securities,
the interest rate borne by the relevant Transfer Restricted Securities will be reduced to the
original interest rate borne by such Transfer Restricted Securities; provided, however, that, if
after any such reduction in interest rate, a different Registration Default occurs, the interest
rate borne by the relevant Transfer Restricted Securities shall again be increased pursuant to the
foregoing

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provisions. Notwithstanding any other provisions of this Section 5, the Issuer shall
not be obligated to pay Additional Interest provided in this Section 5 during a Shelf Suspension
Period permitted by Section 4 (a) hereof.

     All obligations of the Issuer set forth in the preceding paragraph that are outstanding with
respect to any Transfer Restricted Security at the time such security ceases to be a Transfer
Restricted Security shall survive until such time as all such obligations with respect to such
security shall have been satisfied in full.

     SECTION 6. Registration Procedures.

     (a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Issuer
shall comply with all of the provisions of Section 6(c) hereof, shall use its reasonable best
efforts to effect such exchange to permit the sale of Transfer Restricted Securities being sold in
accordance with the intended method or methods of distribution thereof, and shall comply with all
of the following provisions:

     (i) If in the reasonable opinion of counsel to the Issuer there is a question as to
whether the Exchange Offer is permitted by applicable law and it is advisable to do so, the
Issuer hereby agrees to seek a no-action letter or other favorable decision from the
Commission allowing the Issuer to Consummate an Exchange Offer for such Initial Securities.
The Issuer hereby agrees to pursue the issuance of such a decision to the Commission staff
level but shall not be required to take action to effect a change of Commission policy. The
Issuer hereby agrees, however, to (A) participate in telephonic conferences with the
Commission, (B) deliver to the Commission staff an analysis prepared by counsel to the
Issuer setting forth the legal bases, if any, upon which such counsel has concluded that
such an Exchange Offer should be permitted and (C) diligently pursue a resolution by the
Commission staff of such submission.

     (ii) As a condition to its participation in the Exchange Offer pursuant to the terms of
this Agreement, each Holder of Transfer Restricted Securities shall furnish, upon the
request of the Issuer, prior to the Consummation thereof, a written representation to the
Issuer (which may be contained in the letter of transmittal contemplated by the Exchange
Offer Registration Statement) to the effect that (A) it is not an affiliate of the Issuer,
(B) it is not engaged in, and does not intend to engage in, and has no arrangement or
understanding with any Person to participate in, a distribution of the Exchange Securities
to be issued in the Exchange Offer and (C) it is acquiring the Exchange Securities in its
ordinary course of business. In addition, all such Holders of Transfer Restricted
Securities shall otherwise cooperate in the Issuer’s preparations for the Exchange Offer.
Each Holder including any Holder that is a Broker-Dealer, hereby acknowledges and agrees
that any such Holder using the Exchange Offer to participate in a distribution of the
securities to be acquired in the Exchange Offer (1) could not under Commission policy as in
effect on the date of this Agreement rely on the position of the Commission enunciated in
Morgan Stanley & Co., Inc. (available June 5, 1991) and Exxon Capital Holdings
Corporation (available May 13, 1988), as interpreted in the Commission’s letter to
Shearman & Sterling dated July 2, 1993, and similar no-action letters (which may include any
no-action letter obtained pursuant to clause (i) above), and (2) must comply with the
registration

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and prospectus delivery requirements of the Securities Act in connection with a
secondary resale transaction and that such a secondary resale transaction should be covered
by an effective registration statement containing the selling security holder information
required by Item 507 or 508, as applicable, of Regulation S-K if the resales are of Exchange
Securities obtained by such Holder in exchange for Initial Securities acquired by such
Holder directly from the Issuer.

     (b) Shelf Registration Statement. In connection with the Shelf Registration Statement, the
Issuer shall comply with all the provisions of Section 6(c) hereof and shall use its reasonable
best efforts to effect such registration to permit the sale of the Transfer Restricted Securities
being sold in accordance with the intended method or methods of distribution thereof, and pursuant
thereto the Issuer will as expeditiously as possible prepare and file with the Commission a
Registration Statement relating to the registration on any appropriate form under the Securities
Act, which form shall be available for the sale of the Transfer Restricted Securities in accordance
with the intended method or methods of distribution thereof.

     (c) General Provisions. In connection with any Registration Statement and any Prospectus
required by this Agreement to permit the sale or resale of Transfer Restricted Securities
(including, without limitation, any Registration Statement and the related Prospectus required to
permit resales of Initial Securities by Broker-Dealers), the Issuer shall:

     (i) use its reasonable best efforts to keep such Registration Statement continuously
effective and provide all requisite financial statements; upon the occurrence of any event
that would cause any such Registration Statement or the Prospectus contained therein (A) to
contain an untrue statement of material fact or omit to state a material fact necessary to
make the statements therein not misleading or (B) not to be effective and usable for resale
of Transfer Restricted Securities during the period required by this Agreement, the Issuer
shall file promptly an appropriate amendment to such Registration Statement or supplement to
the Prospectus or documents incorporated by reference, in the case of clause (A), correcting
any such misstatement or omission, and, in the case of either clause (A) or (B), use its
reasonable best efforts to cause such amendment to be declared effective and such
Registration Statement and the related Prospectus to become usable for their intended
purpose(s) as soon as practicable thereafter;

     (ii) prepare and file with the Commission such amendments and post-effective amendments
to the applicable Registration Statement as may be necessary to keep the Registration
Statement effective for the applicable period set forth in Section 3 or 4 hereof, as
applicable, or such shorter period as will terminate when all Transfer Restricted Securities
covered by such Registration Statement have been sold; cause the Prospectus to be
supplemented by any required Prospectus supplement, and as so supplemented to be filed
pursuant to Rule 424 under the Securities Act, and to comply fully with the applicable
provisions of Rules 424 and 430A under the Securities Act in a timely manner; and comply
with the provisions of the Securities Act with respect to the disposition of all securities
covered by such Registration Statement during the applicable period in accordance with the
intended method or methods of distribution by the sellers thereof set forth in such
Registration Statement or supplement to the Prospectus;

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     (iii) advise the underwriter(s), if any, and selling Holders promptly and, if requested
by such Persons, to confirm such advice in writing, (A) when the Prospectus or any
Prospectus supplement or post-effective amendment has been filed, and, with respect to any
Registration Statement or any post-effective amendment thereto, when the same has become
effective, (B) of any request by the Commission for amendments to the Registration Statement
or amendments or supplements to the Prospectus or for additional information relating
thereto, (C) of the issuance by the Commission of any stop order suspending the
effectiveness of the Registration Statement under the Securities Act or of the suspension by
any state securities commission of the qualification of the Transfer Restricted Securities
for offering or sale in any jurisdiction, or the initiation of any proceeding for any of the
preceding purposes and (D) of the existence of any fact or the happening of any event that
makes any statement of a material fact made in the Registration Statement, the Prospectus,
any amendment or supplement thereto, or any document incorporated by reference therein
untrue, or that requires the making of any additions to or changes in the Registration
Statement or the Prospectus in order to make the statements therein not misleading. If at
any time the Commission shall issue any stop order suspending the effectiveness of the
Registration Statement, or any state securities commission or other regulatory authority
shall issue an order suspending the qualification or exemption from qualification of the
Transfer Restricted Securities under state securities or blue sky laws, the Issuer shall use
its reasonable best efforts to obtain the withdrawal or lifting of such order at the
earliest possible time;

     (iv) furnish without charge to counsel for the Initial Purchasers, each selling Holder
named in any Registration Statement, and each of the underwriter(s), if any, at least one
copy before filing with the Commission, of any Registration Statement or any Prospectus
included therein or any amendments or supplements to any such Registration Statement or
Prospectus (including, if requested by any such Person, all documents incorporated by
reference after the initial filing of such Registration Statement if not available on the
Commission’s EDGAR database), which documents will be subject to the review of the Initial
Purchasers in connection with such sale, if any, for a period of at least five Business
Days, and the Issuer will not file any such Registration Statement or Prospectus or any
amendment or supplement to any such Registration Statement or Prospectus (including all such
documents incorporated by reference) to which an Initial Purchaser of Transfer Restricted
Securities covered by such Registration Statement or the underwriter, if any, shall
reasonably object in writing within five Business Days after the receipt thereof (such
objection to be deemed timely made upon confirmation of telecopy transmission within such
period). The objection of an Initial Purchaser or underwriter, if any, shall be deemed to
be reasonable if such Registration Statement, amendment, Prospectus or supplement, as
applicable, as proposed to be filed, contains an untrue statement of a material fact or
omits to state a material fact necessary to make the statements therein not misleading;

     (v) promptly prior to the filing of any document that is to be incorporated by
reference into a Registration Statement or Prospectus, provide copies of such document to
the Initial Purchasers, each selling Holder named in any Registration Statement, and to the
underwriter(s), if any, make the Issuer’s representatives available for discussion of

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such document and other customary due diligence matters, and include such information
in such document prior to the filing thereof as such selling Holders or underwriter(s), if
any, reasonably may request;

     (vi) make available at reasonable times for inspection by the Initial Purchasers, the
managing underwriter(s), if any, participating in any disposition pursuant to such
Registration Statement and any attorney or accountant retained by such Initial Purchasers or
any of the underwriter(s), all pertinent financial and other records, pertinent corporate
documents and properties of the Issuer and cause the Issuer’s officers, directors and
employees to supply all information reasonably requested by any such Holder, underwriter,
attorney or accountant in connection with such Registration Statement or any post-effective
amendment thereto subsequent to the filing thereof and prior to its effectiveness, in each
case, as shall be reasonably necessary to enable such persons to conduct an investigation
within the meaning of Section 11 of the Securities Act; provided, however, (A) that the
foregoing inspection and information gathering shall be coordinated on behalf of the Initial
Purchasers by Cahill, Gordon & Reindel llp and on behalf of any other parties by
one counsel designated by and on behalf of such other parties as described in Section 7
hereof, and (B) that any information that is reasonably and in good faith designated by the
Issuer in writing as confidential at the time of delivery of such information shall be kept
confidential by the Initial Purchasers, the Holders, or any such underwriter, attorney,
accountant or other agent, unless (1) disclosure of such information is required by court or
administrative order or is necessary to respond to inquiries of regulatory authorities, (2)
disclosure of such information is required by law (including any disclosure requirements
pursuant to federal securities laws in connection with the filing of such Registration
Statement or the use of any Prospectus), (3) such information becomes generally available to
the public other than as a result of a disclosure or failure to safeguard such information
by such person or (4) such information becomes available to such Initial Purchaser, Holder,
underwriter, attorney, accountant or other agent from a source other than the Issuer and
such source is not known by the relevant Initial Purchaser, Holder, underwriter, attorney,
accountant or other agent to be bound by a confidentiality agreement or is not otherwise
under a duty of trust to the Issuer;

     (vii) if requested by any selling Holders or the underwriter(s), if any, promptly
incorporate in any Registration Statement or Prospectus, pursuant to a supplement or
post-effective amendment if necessary, such information as such selling Holders and
underwriter(s), if any, may reasonably request to have included therein, including, without
limitation, information relating to the “Plan of Distribution” of the Transfer Restricted
Securities, information with respect to the principal amount at maturity of Transfer
Restricted Securities being sold to such underwriter(s), the purchase price being paid
therefor and any other terms of the offering of the Transfer Restricted Securities to be
sold in such offering; and make all required filings of such Prospectus supplement or
post-effective amendment as soon as practicable after the Issuer is notified of the matters
to be incorporated in such Prospectus supplement or post-effective amendment;

     (viii) use reasonable best efforts to confirm that the ratings assigned to the Initial
Securities will apply to the Transfer Restricted Securities covered by the Registration

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Statement, if so requested by the Holders of a majority in aggregate principal amount
at maturity of Initial Securities covered thereby or the underwriter(s), if any;

     (ix) furnish to each Initial Purchaser, each selling Holder and each of the
underwriter(s), if any, without charge, at least one copy of the Registration Statement, as
first filed with the Commission, and of each amendment thereto, including financial
statements and schedules and if requested all documents incorporated by reference therein
and all exhibits (including exhibits incorporated therein by reference);

     (x) deliver to each selling Holder and each of the underwriter(s), if any, without
charge, as many copies of the Prospectus (including each preliminary prospectus) and any
amendment or supplement thereto as such Persons reasonably may request; the Issuer hereby
consents to the use of the Prospectus and any amendment or supplement thereto by each of the
selling Holders and each of the underwriter(s), if any, in connection with the offering and
the sale of the Transfer Restricted Securities covered by the Prospectus or any amendment or
supplement thereto;

     (xi) enter into such agreements (including an underwriting agreement), and make such
representations and warranties, and take all such other actions in connection therewith in
order to expedite or facilitate the disposition of the Transfer Restricted Securities
pursuant to any Registration Statement contemplated by this Agreement, all to such extent as
may be reasonably requested by an Initial Purchaser or by any Holder of Transfer Restricted
Securities or underwriter in connection with any sale or resale pursuant to any Registration
Statement contemplated by this Agreement; and whether or not an underwriting agreement is
entered into and whether or not the registration is an Underwritten Registration, the Issuer
shall:

     (A) furnish to each Initial Purchaser, each selling Holder and each
underwriter, if any, in such substance and scope as they may reasonably request and
as are customarily made by issuers to underwriters in primary underwritten
offerings, upon the date of the effectiveness of the Shelf Registration Statement:

     (1) a certificate, dated the date of effectiveness of the Shelf
Registration Statement signed by (y) the President or any Vice President and
(z) a principal financial or accounting officer of the Issuer, confirming,
as of the date thereof, the matters set forth in paragraphs (i), (ii) and
(iii) of Section 5(e) of the Purchase Agreement and such other matters as
such parties may reasonably request;

     (2) an opinion, dated the date of effectiveness of the Shelf
Registration Statement of counsel for the Issuer, in form, scope and
substance reasonably satisfactory to the managing underwriter, addressed to
the underwriters covering the matters customarily covered in opinions,
reasonably requested in underwritten offerings, and in any event including a
statement to the effect that such counsel has participated in conferences
with officers and other representatives of the Issuer, the Initial
Purchasers’ representatives and the Initial Purchasers’ counsel in
connection with the

-12-

 

preparation of such Registration Statement and the related Prospectus
and have considered the matters required to be stated therein and the
statements contained therein, although such counsel has not independently
verified the accuracy, completeness or fairness of such statements; and that
such counsel advises that, on the basis of the foregoing (relying as to
materiality to a large extent upon facts provided to such counsel by
officers and other representatives of the Issuer and without independent
check or verification), no facts came to such counsel’s attention that
caused such counsel to believe that the Registration Statement, at the time
such Registration Statement or any post-effective amendment thereto became
effective, contained an untrue statement of a material fact or omitted to
state a material fact required to be stated therein or necessary to make the
statements therein not misleading, or that the Prospectus contained in such
Registration Statement as of its date contained an untrue statement of a
material fact or omitted to state a material fact necessary in order to make
the statements therein, in light of the circumstances under which they were
made, not misleading. Without limiting the foregoing, such counsel may
state further that such counsel assumes no responsibility for, and has not
independently verified, the accuracy, completeness or fairness of the
financial statements, notes and schedules and other financial data included
in any Registration Statement contemplated by this Agreement or the related
Prospectus; and

     (3) a customary comfort letter, dated the date of effectiveness of the
Shelf Registration Statement in form, scope and substance reasonably
satisfactory to the managing underwriter, from the Issuer’s independent
accountants, in the customary form and covering matters of the type
customarily requested to be covered in comfort letters by underwriters in
connection with primary underwritten offerings;

     (B) set forth in full or incorporate by reference in the underwriting
agreement, if any, the indemnification provisions and procedures of Section 8 hereof
with respect to all parties to be indemnified pursuant to said Section; and

     (C) deliver such other documents and certificates as may be reasonably
requested by such parties to evidence compliance with Section 6(c)(xi)(A) hereof and
with any customary conditions contained in the underwriting agreement or other
agreement entered into by the Issuer pursuant to this Section 6(c)(xi), if any.

     If at any time the representations and warranties of the Issuer contemplated in Section
6(c)(xi)(A)(1) hereof cease to be true and correct, the Issuer shall so advise the Initial
Purchasers and the underwriter(s), if any, and each selling Holder promptly and, if
requested by such Persons, shall confirm such advice in writing;

     (xii) prior to any public offering of Transfer Restricted Securities, cooperate with
the selling Holders, the underwriter(s), if any, and their respective counsel in connection
with the registration and qualification of the Transfer Restricted Securities under

-13-

 

the state securities or blue sky laws of such jurisdictions as the selling Holders or
underwriter(s), if any, may reasonably request and do any and all other acts or things
necessary or advisable to enable the disposition in such jurisdictions of the Transfer
Restricted Securities covered by the Shelf Registration Statement; provided, however, that
the Issuer shall not be required to register or qualify as a foreign corporation where it is
not then so qualified or to take any action that would subject it to the service of process
in suits or to taxation, other than as to matters and transactions relating to the
Registration Statement, in any jurisdiction where it is not then so subject;

     (xiii) shall issue, upon the request of any Holder of Initial Securities covered by and
sold pursuant to the Shelf Registration Statement, Exchange Securities having an aggregate
principal amount at maturity equal to the aggregate principal amount at maturity of Initial
Securities surrendered to the Issuer by such Holder in exchange therefor or being sold by
such Holder; such Exchange Securities to be registered in the name of such Holder or in the
name of the purchaser(s) of such Exchange Securities, as the case may be; in return, the
Initial Securities held by such Holder shall be surrendered to the Issuer for cancellation;

     (xiv) cooperate with the selling Holders and the underwriter(s), if any, to facilitate
the timely preparation and delivery of certificates representing Transfer Restricted
Securities to be sold and not bearing any restrictive legends; and enable such Transfer
Restricted Securities to be in such denominations and registered in such names as the
Holders or the underwriter(s), if any, may reasonably request at least two Business Days
prior to any sale of Transfer Restricted Securities made by such Holders or underwriter(s);

     (xv) use its reasonable best efforts to cause the Transfer Restricted Securities
covered by the Registration Statement to be registered with or approved by such other
governmental agencies or authorities as may be necessary to enable the seller or sellers
thereof or the underwriter(s), if any, to consummate the disposition of such Transfer
Restricted Securities, subject to the proviso contained in Section 6(c)(xii) hereof;

     (xvi) if any fact or event contemplated by Section 6(c)(iii)(D) hereof shall exist or
have occurred, prepare a supplement or post-effective amendment to the Registration
Statement or related Prospectus or any document incorporated therein by reference or file
any other required document so that, as thereafter delivered to the purchasers of Transfer
Restricted Securities, the Prospectus will not contain an untrue statement of a material
fact or omit to state any material fact necessary in order to make the statements therein,
in light of the circumstances under which they were made, not misleading;

     (xvii) provide a CUSIP number for all Initial Securities not later than the effective
date of the Registration Statement covering such Initial Securities and provide the Trustee
under the Indenture with printed certificates for such Initial Securities which are in a
form eligible for deposit with The Depository Trust Company;

     (xviii) cooperate and assist in any filings required to be made with the FINRA and in
the performance of any due diligence investigation by any underwriter (including

-14-

 

any “qualified independent underwriter”) that is required to be retained in accordance
with the rules and regulations of the FINRA;

     (xix) otherwise use its reasonable best efforts to comply with all applicable rules and
regulations of the Commission, and make generally available to its security holders, as soon
as practicable, a consolidated earning statement meeting the requirements of Rule 158 (which
need not be audited) for the twelve-month period (A) commencing at the end of any fiscal
quarter in which Transfer Restricted Securities are sold to underwriters in a firm
commitment or best efforts Underwritten Offering or (B) if not sold to underwriters in such
an offering, beginning with the first month of the Issuer’s first fiscal quarter commencing
after the effective date of the Registration Statement;

     (xx) cause the Indenture to be qualified under the Trust Indenture Act not later than
the effective date of the first Registration Statement required by this Agreement, and, in
connection therewith, cooperate with the Trustee and the Holders of Initial Securities to
effect such changes to the Indenture as may be required for such Indenture to be so
qualified in accordance with the terms of the Trust Indenture Act; and to execute and use
its reasonable best efforts to cause the Trustee to execute, all documents that may be
required to effect such changes and all other forms and documents required to be filed with
the Commission to enable such Indenture to be so qualified in a timely manner; and

     (xxi) provide promptly to each Holder upon request each document filed with the
Commission pursuant to the requirements of Section 13 and Section 15 of the Exchange Act.

     Each Holder agrees by acquisition of a Transfer Restricted Security that, upon receipt of any
notice from the Issuer of the existence of any fact of the kind described in Section 6(c)(iii)(D)
hereof, such Holder will forthwith discontinue disposition of Transfer Restricted Securities
pursuant to the applicable Registration Statement until such Holder’s receipt of the copies of the
supplemented or amended Prospectus contemplated by Section 6(c)(xvi) hereof, or until it is advised
in writing (the “Advice”) by the Issuer that the use of the Prospectus may be resumed, and has
received copies of any additional or supplemental filings that are incorporated by reference in the
Prospectus. If so directed by the Issuer, each Holder will deliver to the Issuer (at the Issuer’s
expense) all copies, other than permanent file copies then in such Holder’s possession, of the
Prospectus covering such Transfer Restricted Securities that was current at the time of receipt of
such notice. In the event the Issuer shall give any such notice, the time period regarding the
effectiveness of such Registration Statement set forth in Section 3 or 4 hereof, as applicable,
shall be extended by the number of days during the period from and including the date of the giving
of such notice pursuant to Section 6(c)(iii)(D) hereof to and including the date when each selling
Holder covered by such Registration Statement shall have received the copies of the supplemented or
amended Prospectus contemplated by Section 6(c)(xvi) hereof or shall have received the Advice;
provided, however, that no such extension shall be taken into account in determining whether
Additional Interest is due pursuant to Section 5 hereof or the amount of such Additional Interest.

-15-

 

     SECTION 7. Registration Expenses.

     All expenses incident to the Issuer’s performance of or compliance with this Agreement will be
borne by the Issuer regardless of whether a Registration Statement becomes effective, including,
without limitation: (i) all registration and filing fees and expenses (including filings made by
any Initial Purchaser or Holder with the FINRA (and, if applicable, the fees and expenses of any
“qualified independent underwriter” and its counsel that may be required by the rules and
regulations of the FINRA)); (ii) all fees and expenses of compliance with federal securities and
state securities or blue sky laws; (iii) all expenses of printing (including printing of
Prospectuses), messenger and delivery services and telephone; (iv) all fees and disbursements of
counsel for the Issuer; and (v) all application and filing fees in connection with listing the
Exchange Securities on a securities exchange or automated quotation system pursuant to the
requirements thereof, if applicable; all fees and disbursements of independent certified public
accountants of the Issuer (including the expenses of any special audit and comfort letters required
by or incident to such performance).

     The Issuer will, in any event, bear its internal expenses (including, without limitation, all
salaries and expenses of its officers and employees performing legal or accounting duties), the
expenses of any annual audit and the fees and expenses of any Person, including special experts,
retained by the Issuer.

     SECTION 8. Indemnification.

     (a) The Issuer agrees to indemnify and hold harmless (i) each Holder and (ii) each Person, if
any, who controls (within the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act) any Holder (any of the Persons referred to in this clause (ii) being hereinafter
referred to as a “controlling person”) and (iii) the respective officers, directors, partners,
employees, representatives and agents of any Holder or any controlling person (any Person referred
to in clause (i), (ii) or (iii) may hereinafter be referred to as an “Indemnified Holder”), to the
fullest extent lawful, from and against any and all losses, claims, damages, liabilities,
judgments, actions and expenses (including, without limitation, and as incurred, reimbursement of
all reasonable costs of investigating, preparing, pursuing, settling, compromising, paying or
defending any claim or action, or any investigation or proceeding by any governmental agency or
body, commenced or threatened, including the reasonable fees and expenses of counsel to any
Indemnified Holder), joint or several, directly or indirectly caused by, related to, based upon,
arising out of or in connection with any untrue statement or alleged untrue statement of a material
fact contained in any Registration Statement or Prospectus (or any amendment or supplement
thereto), or any omission or alleged omission to state therein a material fact required to be
stated therein or necessary to make the statements therein not misleading, except insofar as such
losses, claims, damages, liabilities or expenses are caused by an untrue statement or omission or
alleged untrue statement or omission that is made in reliance upon and in conformity with
information relating to any of the Holders furnished in writing to the Issuer by any of the Holders
expressly for use therein. This indemnity agreement shall be in addition to any liability which
the Issuer may otherwise have.

     In case any action or proceeding (including any governmental or regulatory investigation or
proceeding) shall be brought or asserted against any of the Indemnified Holders with respect

-16-

 

to which indemnity may be sought against the Issuer, such Indemnified Holder (or the
Indemnified Holder controlled by such controlling person) shall promptly notify the Issuer in
writing; provided, however, that the failure to give such notice shall not relieve the Issuer of
its obligations pursuant to this Agreement except to the extent it is materially prejudiced as a
proximate result of such failure). In case any such action is brought against any Indemnified
Holder and such Indemnified Holder seeks or intends to seek indemnity from the Issuer, the Issuer
will be entitled to participate in and, to the extent that it shall elect, jointly with all other
indemnifying parties similarly notified, by written notice delivered to the Indemnified Holder
promptly after receiving the aforesaid notice from such Indemnified Holder, to assume the defense
thereof with counsel reasonably satisfactory to such Indemnified Holder; provided, however, if the
defendants in any such action include both the Indemnified Holder and the Issuer and the
Indemnified Holder shall have reasonably concluded (based on the advice of counsel) that a conflict
may arise between the positions of the Issuer and the Indemnified Holder in conducting the defense
of any such action or that there may be legal defenses available to it and/or other Indemnified
Holders which are different from or additional to those available to the Issuer, the Indemnified
Holder or Holders shall have the right to select separate counsel to assume such legal defenses and
to otherwise participate in the defense of such action on behalf of such Indemnified Holder or
Holders. Upon receipt of notice from the Issuer to such Indemnified Holder of the Issuer’s
election so to assume the defense of such action and approval by the Indemnified Holder of counsel,
the Issuer will not be liable to such Indemnified Holder under this Section 8 for any legal or
other expenses subsequently incurred by such Indemnified Holder in connection with the defense
thereof unless (i) the Indemnified Holder shall have employed separate counsel in accordance with
the proviso to the next preceding sentence (it being understood, however, that the Issuer shall not
be liable for the expenses of more than one separate counsel (together with local counsel (in each
jurisdiction)), approved by the Issuer (Indemnified Holder or Holders, in the case of 8(b) and 8(c)
hereof), representing the Indemnified Holders who are parties to such action) or (ii) the Issuer
shall not have employed counsel reasonably satisfactory to the Indemnified Holder to represent the
Indemnified Holder within a reasonable time after notice of commencement of the action, in each of
which cases the fees and expenses of counsel shall be at the expense of the Issuer. It is
understood and agreed that the Issuer shall not, in connection with any proceeding or related
proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more than
one separate firm (together with any local counsel) for all Indemnified Holders. Each Indemnified
Holder, as a condition to indemnification hereunder, shall use all reasonable efforts to cooperate
with the Issuer in the defense of any such action or claim. The Issuer shall not be liable for any
settlement of any such action or proceeding effected without the Issuer’s prior written consent,
but if settled with such consent or if there is a final judgment for the plaintiff, the Issuer
agrees to indemnify and hold harmless any Indemnified Holder from and against any loss, claim,
damage, liability or expense by reason of such settlement or judgment. The Issuer shall not,
without the prior written consent of each Indemnified Holder, settle or compromise or consent to
the entry of judgment in or otherwise seek to terminate any pending or threatened action, claim,
litigation or proceeding in respect of which indemnification or contribution may be sought
hereunder (whether or not any Indemnified Holder is a party thereto), unless such settlement,
compromise, consent or termination includes an unconditional release of each Indemnified Holder
from all liability arising out of such action, claim, litigation or proceeding.

-17-

 

     (b) Each Holder of Transfer Restricted Securities agrees, severally and not jointly, to
indemnify and hold harmless the Issuer and its directors, officers, partners, employees,
representatives, and agents of the Issuer who sign a Registration Statement, and any Person
controlling (within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange
Act) the Issuer, and the officers, directors, partners, employees, representatives and agents of
each such Person, to the same extent as the foregoing indemnity from Issuer to each of the
Indemnified Holders, but only with respect to claims and actions based on information relating to
such Holder furnished in writing by such Holder expressly for use in any Registration Statement.
In case any action or proceeding shall be brought against the Issuer or its directors, officers,
partners, employees, representatives, and agents or any such controlling person in respect of which
indemnity may be sought against a Holder of Transfer Restricted Securities, such Holder shall have
the rights and duties given the Issuer, and the Issuer, its directors, officers, partners,
employees, representatives, and agents and such controlling person shall have the rights and duties
given to each Holder by the preceding paragraph.

     (c) If the indemnification provided for in this Section 8 is unavailable to an indemnified
party under Section 8(a) or (b) hereof (other than by reason of exceptions provided in those
Sections, including by reason of failure to notify the Issuer of indemnification obligations
thereunder to the extent that they are materially prejudiced as a proximate result of such failure)
in respect of any losses, claims, damages, liabilities, judgments, actions or expenses referred to
therein, then 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, claims, damages, liabilities or expenses in such proportion as is appropriate to reflect
the relative benefits received by the Issuer, on the one hand, and the Holders, on the other hand,
from the Initial Placement (which in the case of the Issuer shall be deemed to be equal to the
total gross proceeds to the Issuer from the Initial Placement), the amount of Additional Interest
which did not become payable as a result of the filing of the Registration Statement resulting in
such losses, claims, damages, liabilities, judgments actions or expenses, and such Registration
Statement, or if such allocation is not permitted by applicable law, the relative fault of the
Issuer on the one hand, and the Holders, on the other hand, in connection with the statements or
omissions which resulted in such losses, claims, damages, liabilities or expenses, as well as any
other relevant equitable considerations. The relative fault of the Issuer on the one hand and of
the Indemnified Holder 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 Issuer, on the one hand,
or the Indemnified Holders, on the other hand, 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, claims, damages, liabilities and expenses referred
to above shall be deemed to include, subject to the limitations set forth in the second paragraph
of Section 8(a) hereof, any legal or other fees or expenses reasonably incurred by such party in
connection with investigating or defending any action or claim.

     The Issuer and each Holder of Transfer Restricted Securities agree that it would not be just
and equitable if contribution pursuant to this Section 8(c) were determined by pro rata allocation
(even if the Holders were treated as one entity for such purpose) or by any other method of
allocation which does not take account of the equitable considerations referred to in the

-18-

 

immediately preceding paragraph. The amount paid or payable by an indemnified party as a result
of the losses, claims, damages, liabilities or expenses referred to in the immediately preceding
paragraph shall be deemed to include, subject to the limitations set forth above, any legal or
other expenses reasonably incurred by such indemnified party in connection with investigating or
defending any such action or claim. Notwithstanding the provisions of this Section 8, none of the
Holders (and its related Indemnified Holders) shall be required to contribute, in the aggregate,
any amount in excess of the amount by which the net proceeds received by such Holder from the sale
of the Initial Securities pursuant to a Registration Statement exceeds the amount of any damages
which such 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. The Holders’ obligations to
contribute pursuant to this Section 8(c) are several in proportion to the respective principal
amount at maturity of Initial Securities held by each of the Holders hereunder and not joint.

     SECTION 9. Rule 144A. The Issuer hereby agrees with each Holder, for so long as any Transfer
Restricted Securities remain outstanding, to make available to any Holder or beneficial owner of
Transfer Restricted Securities in connection with any sale thereof and any prospective purchaser of
such Transfer Restricted Securities from such Holder or beneficial owner, the information required
by Rule 144A(d)(4) under the Securities Act in order to permit resales of such Transfer Restricted
Securities pursuant to Rule 144A under the Securities Act.

     SECTION 10. Participation in Underwritten Registrations. No Holder may participate in any
Underwritten Registration hereunder unless such Holder (a) agrees to sell such Holder’s Transfer
Restricted Securities on the basis provided in any underwriting arrangements approved by the
Persons entitled hereunder to approve such arrangements and (b) completes and executes all
reasonable questionnaires, powers of attorney, indemnities, underwriting agreements, lock-up
letters and other documents required under the terms of such underwriting arrangements.

     SECTION 11. Selection of Underwriters. The Holders of Transfer Restricted Securities covered
by the Shelf Registration Statement who desire to do so may sell such Transfer Restricted
Securities in an Underwritten Offering. In any such Underwritten Offering, the investment
banker(s) and managing underwriter(s) that will administer such offering will be selected by the
Holders of a majority in aggregate principal amount at maturity of the Transfer Restricted
Securities included in such offering; provided, however, that such investment banker(s) and
managing underwriter(s) must be reasonably satisfactory to the Issuer.

     SECTION 12. Miscellaneous.

     (a) Remedies. The Issuer hereby agrees that monetary damages would not be adequate
compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement
and hereby agrees to waive the defense in any action for specific performance that a remedy at law
would be adequate.

     (b) No Inconsistent Agreements. The Issuer will not on or after the date of this Agreement
enter into any agreement with respect to its securities that is inconsistent with the

-19-

 

rights granted to the Holders in this Agreement or otherwise conflicts with the provisions
hereof. The Issuer has not previously entered into any agreement granting any registration rights
with respect to its securities to any Person pursuant to which any such Person would have the right
to include any securities in any Registration Statement to be filed with the Commission as required
under this Agreement other than Vanguard Health Holding Company II, LLC’s and Vanguard Holding
Company II, Inc.’s registration rights agreement with respect to their 8% Senior Notes due 2018 and
the agreement dated the date hereof with respect to their 7.750% Senior Notes due 2019. The rights
granted to the Holders hereunder do not in any way conflict with and are not inconsistent with the
rights granted to the holders of the Issuer’s other securities under any agreement in effect on the
date hereof.

     (c) Adjustments Affecting the Securities. The Issuer will not take any action, or permit any
change to occur, with respect to the Initial Securities that would materially and adversely affect
the ability of the Holders to Consummate any Exchange Offer.

     (d) Amendments and Waivers. The provisions of this Agreement may not be amended, modified or
supplemented, and waivers or consents to or departures from the provisions hereof may not be given
unless the Issuer (i) in the case of Section 5 hereof and this Section 12(d)(i), has obtained the
written consent of Holders of all outstanding Transfer Restricted Securities and (ii) in the case
of all other provisions hereof, has obtained the written consent of Holders of a majority of the
outstanding principal amount at maturity of Transfer Restricted Securities (excluding any Transfer
Restricted Securities held by the Issuer or its respective Affiliates). Notwithstanding the
foregoing, a waiver or consent to departure from the provisions hereof that relates exclusively to
the rights of Holders whose securities are being tendered pursuant to the Exchange Offer and that
does not affect directly or indirectly the rights of other Holders whose securities are not being
tendered pursuant to such Exchange Offer may be given by the Holders of a majority of the
outstanding principal amount at maturity of Transfer Restricted Securities being tendered or
registered; provided, however, that, with respect to any matter that directly or indirectly affects
the rights of any Initial Purchaser hereunder, the Issuer shall obtain the written consent of each
such Initial Purchaser with respect to which such amendment, qualification, supplement, waiver,
consent or departure is to be effective.

     (e) Notices. All notices and other communications provided for or permitted hereunder shall
be made in writing by hand-delivery, first-class mail (registered or certified, return receipt
requested), telex, telecopier, or air courier guaranteeing overnight delivery:

     (i) if to a Holder, at the address set forth on the records of the Registrar under the
Indenture, with a copy to the Registrar under the Indenture; and

     (ii)  if to the Issuer

Vanguard Health Systems, Inc.

20 Burton Hills Boulevard

Suite 100

Nashville, Tennessee 37215

Facsimile: (615) 665-6197

Attention: Ronald P. Soltman, General Counsel

-20-

 

     (iii) with a copy to:

Simpson Thacher & Bartlett LLP

425 Lexington Avenue

New York, New York 10017

Facsimile: (212) 455-2502

Attention: Risë B. Norman, Esq.

     All such notices and communications shall be deemed to have been duly given: at the time
delivered by hand, if personally delivered; five Business Days after being deposited in the mail,
postage prepaid, if mailed; when answered back, if telexed; when receipt acknowledged, if
telecopied; and on the next Business Day, if timely delivered to an air courier guaranteeing
overnight delivery.

     Copies of all such notices, demands or other communications shall be concurrently delivered by
the Person giving the same to the Trustee at the address specified in the Indenture.

     (f) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and assigns of each of the parties, including, without limitation, and without the
need for an express assignment, subsequent Holders of Transfer Restricted Securities; provided,
however, that this Agreement shall not inure to the benefit of or be binding upon a successor or
assign of a Holder unless and to the extent such successor or assign acquired Transfer Restricted
Securities from such Holder.

     (g) Counterparts. This Agreement may be executed in any number of counterparts and by the
parties hereto in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement.

     (h) Headings. The headings in this Agreement are for convenience of reference only and shall
not limit or otherwise affect the meaning hereof.

     (i) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK. EACH OF THE PARTIES HEREBY WAIVES ANY RIGHT TO TRIAL BY JURY IN ANY
ACTION, PROCEEDING OR COUNTERCLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

     (j) Severability. In the event that any one or more of the provisions contained herein, or
the application thereof in any circumstance, is held invalid, illegal or unenforceable, the
validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions contained herein shall not be affected or impaired thereby.

     (k) Entire Agreement. This Agreement, together with the Purchase Agreement and the Indenture,
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

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in respect of the subject matter contained herein. There are no restrictions, promises,
warranties or undertakings, other than those set forth or referred to herein with respect to the
registration rights granted by the Issuer with respect to the Transfer Restricted Securities. This
Agreement supersedes all prior agreements and understandings between the parties with respect to
such subject matter.

[Signature Pages Follow]

-22-

 

     IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written
above.

	 	 	 	 	 
	 	Vanguard Health Systems, Inc.

 	 
	 	By:  	/s/ Ronald P. Soltman
 	 
	 	 	Name:  	Ronald P. Soltman 	 
	 	 	Title:  	Executive Vice President 	 
	 

[Senior Discount Notes Registration Rights Agreement Signature Page]

 

 

     The foregoing Registration Rights Agreement is hereby confirmed and accepted as of the date
first above written:

MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED

BARCLAYS CAPITAL INC.

CITIGROUP GLOBAL MARKETS INC.

DEUTSCHE BANK SECURITIES INC.

GOLDMAN, SACHS & CO.

MORGAN STANLEY & CO. INCORPORATED

	 	 	 	 	 

	By:

	 	Merrill Lynch, Pierce, Fenner & Smith Incorporated,	 	 
	 

	 	as a Representative of the Initial Purchasers	 	 
	 
	 	 	 	 
	By:

	 	/s/ Garrett P. Carpenter	 	 
	 

	 	 

Name: Garrett P. Carpenter
	 	 
	 

	 	Title: Director	 	 
	 
	 	 	 	 
	By:

	 	Barclays Capital Inc.	 	 
	 

	 	as a Representative of the Initial Purchasers	 	 
	 
	 	 	 	 
	By:

	 	/s/ John Skrobe	 	 
	 

	 	 

Name: John Skrobe
	 	 
	 

	 	Title: Managing Director	 	 

[Senior Discount Notes Registration Rights Agreement Signature]

 

 

SCHEDULE I

Merrill Lynch, Pierce, Fenner & Smith Incorporated

Barclays Capital Inc.

Citigroup Global Markets Inc.

Deutsche Bank Securities Inc.

Goldman, Sachs & Co.

Morgan Stanley & Co. Incorporated

Schedule IExhibit 10.1

Exhibit 10.1

OPNEXT, INC.

46429 Landing Parkway

Fremont, California 94538

This Employment Agreement (this “Agreement”) is entered into as of January 26, 2011, by and
between Opnext, Inc., a Delaware corporation (“Opnext” or the “Company”), and Harry L. Bosco
(“Executive”).

	 	 	 
	1. Employer:

	 	Opnext, Inc.
	 
	 	 
	2. Employee:

	 	Harry L. Bosco
	 
	 	 
	3. Position and
Duties:

	 	Effective as of December 10, 2010, Executive shall be the Chief Executive Officer and President of
Opnext and shall have the normal duties, responsibilities, functions and authority of a Chief Executive
Officer and President of a company the size and structure of Opnext. Executive shall report directly to
the Board of Directors of Opnext (the “Board”). All other senior executives of Opnext shall report to
Executive. Executive shall exercise such responsibilities and perform such duties as directed from time
to time by the Board.
	 
	 	 
	4. Base Salary:

	 	$500,000 per annum effective as of December 10, 2010.
	 
	 	 
	5. Annual Bonus:

	 	Unless otherwise determined by the Board in its sole discretion, Executive will not be eligible to
receive an annual incentive bonus or to participate in the Company’s annual incentive bonus plan.
	 
	 	 
	6. Opnext
Stock Options:

	 	Subject to approval by the Compensation Committee of the Board and subject to
the terms and conditions set forth in the Company’s Second Amended and Restated 2001 Long
Term Stock Incentive Plan (as amended from time to time, the “Plan”) and in the Stock Option
Agreement (as defined below), provided that Executive is employed by the Company on the date
of grant, the Company shall, on the Company’s next regular equity award grant date for
employees following the date hereof, grant Executive a non-qualified stock option (the
“Stock Option”) to purchase 375,000 shares of common stock of Opnext (the “Shares”). The
Stock Option will have a per share exercise price equal to the closing price of a share of
Opnext common stock on the date of grant as reported by NASDAQ. Subject to Executive’s
continued employment with the Company, the Shares subject to the Stock Option shall vest and
become exercisable in twelve (12) equal installments on each monthly anniversary of December
10, 2010; provided, however, that 100% of the Shares subject to the Stock Option shall vest
and become exercisable in full on the earliest to occur of (i) the date on

 

 

 

	 	 	 
	 

	 	 which Executive’s employment is
terminated by Opnext without Cause (as defined in Section 12 hereof), (ii)
the date on which the Board appoints a Chief Executive Officer and President
of Opnext to succeed Executive, (iii) the date on which Executive’s
employment is terminated by reason of Executive’s death or Disability (as
defined below), or (iv) the date of the occurrence of a Change in Control
(as defined in the Plan). The Stock Option shall have a term of seven (7)
years. The Stock Option shall be subject to the terms and conditions set
forth in the paragraphs below and in a Stock Option Agreement in a form
prescribed by the Company which shall evidence the grant of the Stock Option
(the “Stock Option Agreement”) and the Plan.
	 
	 	 
	 

	 	Any portion of the Stock Option that remains unvested as of the termination
of Executive’s employment (after giving effect to any accelerated vesting
that occurs in connection therewith) shall automatically be cancelled upon
Executive’s termination of employment.
	 
	 	 
	 

	 	As used herein, the term “Disability” shall mean that Executive is unable to
effectively perform his duties and responsibilities, as determined by the
Board for more than 180 days during any twelve (12) month period by reason
or any physical or mental injury, illness or incapacity.
	 
	 	 
	 

	 	In the event of a conflict between any term or provision contained in this
Agreement and the Stock Option Agreement, the terms and provisions of the
Stock Option Agreement will govern and prevail.
	 
	 	 
	7. Opnext
Restricted Stock
Units:

	 	Subject to approval by the Compensation Committee of the Board and subject to the terms
and conditions set forth in the Plan and in the RSU Agreement (as defined below), provided
that Executive is employed by the Company on the date of grant, the Company shall, on the
Company’s next regular equity award grant date for employees following the date hereof,
grant Executive 75,000 restricted stock units (the “RSUs”). Subject to Executive’s
continued employment with the Company, 100% of the RSUs shall vest in full on June 10, 2011;
provided, however, that 100% of the RSUs shall immediately vest in full on the earliest to
occur of (i) the date on which Executive’s employment is terminated by Opnext without Cause
(as defined in Section 12 hereof), (ii) the date on which the Board appoints a Chief
Executive Officer and President of Opnext to succeed Executive, (iii) the date on which
Executive’s employment is terminated by reason of Executive’s death or Disability (as
defined in Section 6 hereof), or (iv) the date of the occurrence of a Change in Control.
The RSUs shall be subject to the terms and conditions set forth in the paragraph below and
in a Restricted Stock Unit Award Agreement in a form prescribed by the Company which shall
evidence the grant of the RSUs (the “RSU Agreement”) and the Plan.

 

2

 

	 	 	 
	 

	 	Any RSUs that remain unvested as of the termination of Executive’s
employment (after giving effect to any accelerated vesting that occurs in
connection therewith) shall automatically be cancelled upon Executive’s
termination of employment.
	 
	 	 
	 

	 	In the event of a conflict between any term or provision contained in this
Agreement and the RSU Agreement, the terms and provisions of the RSU
Agreement will govern and prevail.
	 
	 	 
	8. Employment
Term:

	 	The term (the “Term”) of Executive’s employment
under this Agreement with Opnext shall commence on
the date hereof and shall end on the earlier to
occur of (i) January 26, 2012, or (ii) the
effective date of the Board’s appointment of a
Chief Executive Officer and President of Opnext to
succeed Executive, subject to earlier termination
in the event that Executive’s employment with the
Company is terminated sooner.
	 
	 	 
	9. Benefits:

	 	Executive will be eligible to receive group
welfare and retirement benefits in accordance with
Opnext plans or policies as in effect from time to
time.
	 
	 	 
	10. Vacation:

	 	Executive will accrue paid vacation time at the
rate of four (4) weeks per annum.
	 
	 	 
	11. Termination
Without Cause:

	 	In the event that Executive incurs a “separation
from service” (within the meaning of Section
409A(a)(2)(A)(i) of the Internal Revenue Code of
1986, as amended (the “Code”), and Treasury
Regulation Section 1.409A-1(h)) (“Separation from
Service”) by reason of a termination of
Executive’s employment by the Company without
Cause (as defined in Section 12 hereof), the
Company shall pay Executive as severance a
lump-sum cash payment equal to 100% of his
then-current annual base salary (the “Severance
Payment”). Subject to the Payment Delay (as
defined below), the Severance Payment shall be
made to Executive on the sixtieth (60th) day after
the date of such Separation from Service.
Executive’s right to receive the Severance Payment
is conditioned on and subject to Executive’s
execution within 21 days (or, to the extent
required by applicable law, 45 days) following the
date of Executive’s Separation from Service and
non-revocation by Executive of a general release
of claims substantially in the form attached
hereto as Exhibit A. For purposes of
clarification, a termination of Executive’s
employment by reason of Executive’s death or
Disability (as defined in Section 6 hereof) shall
not be deemed to be a termination by the Company
“without Cause” for purposes of this Agreement.
Notwithstanding the foregoing, in no event shall a
termination of Executive’s employment by reason of
the Board’s appointment of a Chief Executive
Officer and President of Opnext to succeed
Executive or by reason of the expiration of the
Term be
deemed to constitute a termination of Executive’s employment by the Company without Cause.

 

3

 

	 	 	 
	 

	 	The Severance Payment is intended to satisfy the short-term deferral
exemption under Treasury Regulation Section 1.409A-1(b)(4) and shall be made
not later than the last day of the applicable two and one-half (2 1/2) month
short-term deferral period with respect to the Severance Payment, within the
meaning of Treasury Regulation Section 1.409A-1(b)(4).
	 
	 	 
	 

	 	Except as set forth above, upon a termination of Executive’s employment by
Opnext without Cause, Executive shall not be entitled to receive any further
compensation or payments hereunder (except for Executive’s unpaid then
current base salary, accrued vacation and expense reimbursements relating to
the period prior to the date of termination of employment). In the event of
such a termination, any stock options or other equity-based awards held by
Executive shall be subject to the provisions of the incentive award plan and
applicable award agreement pursuant to which such awards were granted.
	 
	 	 
	 

	 	Notwithstanding anything to the contrary in this Agreement, no compensation
or benefits, including without limitation, the Severance Payment, shall be
paid to Executive during the six-month period following Executive’s
Separation from Service if the Company determines that paying such amounts
at the time or times indicated in this Agreement would be a prohibited
distribution under Section 409A(a)(2)(B)(i) of the Code. If the payment of
any such amounts is delayed as a result of the previous sentence (the
“Payment Delay”), then on the first business day following the end of such
six-month period (or such earlier date upon which such amount can be paid
under Section 409A of the Code without resulting in a prohibited
distribution, including as a result of Executive’s death), the Company shall
pay Executive a lump-sum amount equal to the cumulative amount that would
have otherwise been payable to Executive during such six-month period.

 

4

 

	 	 	 
	12. Termination
For Cause:

	 	“Cause” as utilized herein shall mean:
	 

	 	(i) the commission of a felony or the commission of any other act or
omission involving dishonesty or fraud with respect to Opnext or any of its
subsidiaries or affiliates or any of their customers or suppliers;
	 
	 	 
	 

	 	(ii) conduct that brings Opnext or any of its subsidiaries or affiliates
into substantial public disgrace or disrepute;
	 
	 	 
	 

	 	(iii) any material breach of the confidentiality agreement referred to in
Section 13 hereof;
	 
	 	 
	 

	 	(iv) fraud or embezzlement with respect to Opnext or any of its subsidiaries
or affiliates;
	 
	 	 
	 

	 	(v) gross negligence or willful misconduct with respect to Opnext or any of
its subsidiaries or affiliates; or
	 
	 	 
	 

	 	(vi) repeated failure to perform in any material respect Executive’s duties
as directed by the Board;
	 
	 	 
	 

	 	Upon notice by Opnext to Executive of a termination for Cause, the
“Termination Date” shall be the date on which such notice is mailed or
hand-delivered, or as otherwise specified in the notice of termination, to
Executive. Upon a termination by the Company for Cause, by Executive for
any reason, or by reason of the expiration of the Term, Executive shall not
be entitled to receive any severance or further compensation or payments
hereunder (except for Executive’s unpaid then current base salary, accrued
vacation and expense reimbursements relating to the period prior to the
Termination Date). In the event of any such termination, any unvested stock
options or other equity-based awards held by Executive shall be subject to
the provisions of the incentive award plan and applicable award agreement.
	 
	 	 
	13. Confidentiality
Agreement:

	 	Executive acknowledges and agrees that he has
previously executed a confidentiality agreement
with Opnext in part to restrict the disclosure by
Executive of such trade secrets and other
confidential information and that such agreement
remains in full force and effect and is a
condition of Executive’s employment with Opnext.
	 
	 	 
	14. Restrictions:

	 	Executive represents and warrants to Opnext that
there are no restrictions or agreements or
limitations on Executive’s right or ability to
enter into this Agreement or perform the terms set
forth herein.

 

5

 

	 	 	 
	15. Withholdings:

	 	All payments set forth herein which are subject to
withholding shall be made less any required
withholdings.
	 
	 	 
	16. Binding
Arbitration:

	 	Any controversy arising out of or relating to this
Agreement or the Non-Competition/Confidentiality
Agreement shall be settled by binding arbitration
in the San Jose, California area in accordance
with the Commercial Arbitration Rules of the
American Arbitration Association. The award
rendered in any such proceeding shall be final and
binding, and judgment upon the award may be
entered in any court having jurisdiction thereof.
The costs of any such arbitration proceedings
shall be borne equally by Opnext and Executive.
Neither party shall be entitled to recover
attorneys’ fee or costs expended in the course of
such arbitration or enforcement of the award
rendered thereunder.
	 
	 	 
	17. Governing Law:

	 	All issues and questions concerning the
construction, validity, enforcement and
interpretation of this Agreement shall be governed
by, and construed in accordance with, the internal
laws of the State of Delaware, without giving
effect to any choice of law or conflict of law
provision or rule (whether of the State of
Delaware or any other jurisdiction) that would
cause the application of the laws of any
jurisdiction other than the State of Delaware.
	 
	 	 
	18. Notices:

	 	All notices in connection herewith or provided for
hereunder shall be validly given or made only if
made in writing and delivered personally or mailed
by registered or certified mail, return receipt
requested, postage prepaid, to the party entitled
or required to receive the same, as follows:
	 
	 	 
	 

	 	If to Executive, addressed to him at his most recent address
on the records of the Company.

	 

	 	If to the Company, addressed to:

Opnext, Inc.

46429 Landing Parkway

Fremont, California 94538

Attention: General Counsel

 

6

 

	 	 	 
	19. Section 409A:

	 	To the extent applicable, this Agreement shall be
interpreted and applied consistent and in
accordance with Section 409A of the Code and
Department of Treasury regulations and other
interpretive guidance issued thereunder.
Notwithstanding any provision of this Agreement to
the contrary, if the Company determines that any
compensation or benefits payable under this
Agreement may not be either exempt from or
compliant with Section 409A of the Code and related
Department of Treasury guidance, the Company may in
its sole discretion adopt such amendments to this
Agreement or adopt other policies and procedures
(including
amendments, policies and procedures with retroactive effect), or take any
other actions, that the Company determines are necessary or appropriate to
(i) exempt the compensation and benefits payable under this Agreement from
Section 409A of the Code and/or preserve the intended tax treatment of such
compensation and benefits, or (ii) comply with the requirements of Section
409A of the Code and related Department of Treasury guidance; provided,
however, that this Section 19 shall not create any obligation on the part of
the Company to adopt any such amendment, policy or procedure or take any
such other action.
	 
	 	 
	 

	 	To the extent permitted under Section 409A of the Code, any separate payment
or benefit under this Agreement or otherwise shall not be deemed
“nonqualified deferred compensation” subject to Section 409A of the Code and
the Payment Delay pursuant to Section 11 hereof to the extent provided in
the exceptions in Treasury Regulation Section 1.409A-1(b)(4), Section
1.409A-1(b)(9) or any other applicable exception or provision of Section
409A of the Code.
	 
	 	 
	 

	 	To the extent that any payments or reimbursements provided to Executive
under this Agreement are deemed to constitute compensation to which Treasury
Regulation Section 1.409A-3(i)(1)(iv) would apply, such amounts shall be
paid or reimbursed to Executive reasonably promptly, but not later than
December 31 of the year following the year in which the expense was
incurred. The amount of any such payments eligible for reimbursement in one
year shall not affect the payments or expenses that are eligible for payment
or reimbursement in any other taxable year, and Executive’s right to such
payments or reimbursement shall not be subject to liquidation or exchange
for any other benefit.

[Signature Page Follows]

 

7

 

SIGNATURE PAGE TO AGREEMENT

IN WITNESS WHEREOF, the parties hereto have duly executed this Agreement as of the day and year
first above written.

	 	 	 	 	 
	 	OPNEXT, INC.

 	 
	 	By:  	/s/ Justin J. O’Neill
 	 
	 	 	Justin J. O’Neill 	 
	 	 	Senior Vice President and
General Counsel 	 

	 	 	 	 	 
	 	AGREED TO AND ACCEPTED:

 	 
	 	/s/ Harry L. Bosco
 	 
	 	Harry L. Bosco 	 

 

8

 

	 	 	 	 	 

EXHIBIT A

GENERAL RELEASE OF CLAIMS

For valuable consideration, the receipt and adequacy of which are hereby acknowledged, the
undersigned does hereby release and forever discharge the “Releasees” hereunder, consisting of
Opnext, Inc. and each of its partners, associates, affiliates, subsidiaries, successors, heirs,
assigns, agents, directors, officers, employees, shareholders, representatives, lawyers,
accountants, insurers, and all persons acting by, through, under or in concert with them, or any of
them, of and from any and all manner of action or actions, cause or causes of action, in law or in
equity, suits, debts, liens, contracts, agreements, promises, liability, claims, demands, damages,
losses, costs, attorneys’ fees or expenses, of any nature whatsoever, known or unknown, fixed or
contingent (hereinafter called “Claims”), which the undersigned now has or may hereafter have
against the Releasees, or any of them, by reason of any matter, cause, or thing whatsoever from the
beginning of time to the date hereof. The Claims released herein include, without limiting the
generality of the foregoing, any Claims in any way arising out of, based upon, or related to the
employment or termination from employment of the undersigned by the Releasees, or any of them; any
Claim for benefits under any stock option or other equity-based incentive plan of the Releasees (or
any related agreement to which any Releasee is a party); any alleged breach of any express or
implied contract of employment; any alleged torts or other alleged legal restrictions on the
Releasees’ right to terminate the employment of the undersigned; and any alleged violation of any
federal, state or local statute or ordinance including, without limitation, Title VII of the Civil
Rights Act of 1964, the Age Discrimination In Employment Act, the Americans With Disabilities Act,
and the California Fair Employment and Housing Act. Notwithstanding the foregoing, this Release
shall not operate to release any Claims which the undersigned may have to payments or benefits
under Section 11 of that certain Employment Agreement, dated as of January 26, 2011, by and between
Opnext, Inc. and the undersigned.

THE UNDERSIGNED ACKNOWLEDGES THAT HE HAS BEEN ADVISED BY LEGAL COUNSEL AND IS FAMILIAR WITH
THE PROVISIONS OF CALIFORNIA CIVIL CODE SECTION 1542, WHICH PROVIDES AS FOLLOWS:

“A GENERAL RELEASE DOES NOT EXTEND TO CLAIMS WHICH THE CREDITOR DOES NOT KNOW OR SUSPECT TO
EXIST IN HIS FAVOR AT THE TIME OF EXECUTING THE RELEASE, WHICH IF KNOWN BY HIM MUST HAVE MATERIALLY
AFFECTED HIS SETTLEMENT WITH THE DEBTOR.”

THE UNDERSIGNED, BEING AWARE OF SAID CODE SECTION, HEREBY EXPRESSLY WAIVES ANY RIGHTS HE MAY
HAVE THEREUNDER, AS WELL AS UNDER ANY OTHER STATUTES OR COMMON LAW PRINCIPLES OF SIMILAR EFFECT.

 

1

 

IN ACCORDANCE WITH THE OLDER WORKERS BENEFIT PROTECTION ACT OF 1990, THE UNDERSIGNED IS HEREBY
ADVISED AS FOLLOWS:

(1) HE HAS THE RIGHT TO CONSULT WITH AN ATTORNEY BEFORE SIGNING THIS RELEASE;

(2) HE HAS TWENTY-ONE (21) DAYS TO CONSIDER THIS RELEASE BEFORE SIGNING IT; AND

(3) HE HAS SEVEN (7) DAYS AFTER SIGNING THIS RELEASE TO REVOKE IT, AND THIS RELEASE WILL
BECOME EFFECTIVE UPON THE EXPIRATION OF THAT REVOCATION PERIOD.

The undersigned represents and warrants that there has been no assignment or other transfer of
any interest in any Claim which he may have against the Releasees, or any of them, and the
undersigned agrees to indemnify and hold the Releasees, and each of them, harmless from any
liability, Claims, demands, damages, costs, expenses and attorneys’ fees incurred by the Releasees,
or any of them, as the result of any such assignment or transfer or any rights or Claims under any
such assignment or transfer. It is the intention of the parties that this indemnity does not
require payment as a condition precedent to recovery by the Releasees against the undersigned under
this indemnity.

The undersigned agrees that if he hereafter commences any suit arising out of, based upon, or
relating to any of the Claims released hereunder or in any manner asserts against the Releasees, or
any of them, any of the Claims released hereunder, then the undersigned agrees to pay to the
Releasees, and each of them, in addition to any other damages caused to the Releasees thereby, all
attorneys’ fees incurred by the Releasees in defending or otherwise responding to said suit or
Claim.

The undersigned further understands and agrees that neither the payment of any sum of money
nor the execution of this Release shall constitute or be construed as an admission of any liability
whatsoever by the Releasees, or any of them, who have consistently taken the position that they
have no liability whatsoever to the undersigned.

IN WITNESS WHEREOF, the undersigned has executed this Release this
 _____ 

day of                      20_.

	 	 	 	 	 
	 	 	 	 

 

2

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