Document:

exv10w21

 

Exhibit 10.21

ISSUING AND PAYING AGENCY AGREEMENT

     This Agreement, dated as of March 23, 2005, is by and between Oracle Corporation, a Delaware
corporation (the “Issuer") and JPMorgan Chase Bank, National Association (“JPMorgan").

1. APPOINTMENT AND ACCEPTANCE

     The Issuer hereby appoints JPMorgan as its issuing and paying agent in connection with the
issuance and payment of certain short-term promissory notes of the Issuer (the “Notes"), as further
described herein, and JPMorgan agrees to act as such agent upon the terms and conditions contained
in this Agreement.

2. COMMERCIAL PAPER PROGRAMS

     The Issuer may establish one or more commercial paper programs under this Agreement by
delivering to JPMorgan a completed program schedule (the “Program Schedule"), with respect to each
such program. JPMorgan has given the Issuer a copy of the current form of Program Schedule and the
Issuer shall complete and return its first Program Schedule to JPMorgan prior to or simultaneously
with the execution of this Agreement. In the event that any of the information provided in, or
attached to, a Program Schedule shall change, the Issuer shall promptly inform JPMorgan of such
change in writing.

3. NOTES

     All Notes issued by the Issuer under this Agreement shall be short-term promissory notes,
exempt from the registration requirements of the Securities Act of 1933, as amended, as indicated
on the Program Schedules, and from applicable state securities laws. The Notes may be placed by
dealers (the “Dealers") pursuant to Section 4 hereof. Notes shall be issued in either certificated
or book-entry form.

4. AUTHORIZED REPRESENTATIVES

     The Issuer shall deliver to JPMorgan a duly adopted corporate resolution from the Issuer’s
Board of Directors (or a duly authorized committee thereof) authorizing the issuance of Notes under
each program established pursuant to this Agreement and a certificate of incumbency, with specimen
signatures attached, of those officers, employees and agents of the Issuer authorized to take
certain actions with respect to the Notes as provided in this Agreement (each such person is
hereinafter referred to as an “Authorized Representative"). Until JPMorgan receives any subsequent
incumbency certificates of the Issuer, JPMorgan shall be entitled to rely on the last incumbency
certificate delivered to it for the purpose of determining the Authorized Representatives. The
Issuer represents and warrants that each Authorized Representative may appoint other officers,
employees and agents of the Issuer (the “Delegates"), including without limitation any Dealers, to
issue instructions to JPMorgan under this Agreement, and take other actions on the Issuer’s behalf
hereunder, provided that notice of the appointment of each Delegate is delivered to JPMorgan in
writing. Each such appointment shall remain in effect unless and until revoked by the Issuer in a
written notice to JPMorgan.

5. CERTIFICATED NOTES

     If and when the Issuer intends to issue certificated notes (“Certificated Notes"), the Issuer
and JPMorgan shall agree upon the form of such Notes. Thereafter, the Issuer shall from time to
time deliver to JPMorgan adequate supplies of Certificated Notes which will be in bearer form,
serially numbered, and shall be executed by the manual or facsimile signature of an Authorized
Representative. JPMorgan will acknowledge receipt of any supply of Certificated Notes received
from the Issuer, noting any exceptions to the shipping manifest or transmittal letter

 

 

(if any), and will hold the Certificated Notes in safekeeping for the Issuer with all due care in
accordance with JPMorgan’s customary practices. JPMorgan shall not have any liability to the
Issuer to determine by whom or by what means a facsimile signature may have been affixed on
Certificated Notes, or to determine whether any facsimile or manual signature is genuine, if such
facsimile or manual signature resembles the specimen signature attached to the Issuer’s certificate
of incumbency with respect to such Authorized Representative, except for JPMorgan’s own negligence,
willful misconduct or bad faith. Any Certificated Note bearing the manual or facsimile signature
of a person who is an Authorized Representative on the date such signature was affixed shall bind
the Issuer after completion thereof by JPMorgan, notwithstanding that such person shall have ceased
to hold his or her office on the date such Note is countersigned or delivered by JPMorgan.

6. BOOK-ENTRY NOTES

     The Issuer’s book-entry notes (“Book-Entry Notes") shall not be issued in physical form, but
their aggregate face amount shall be represented by a master note (the “Master Note") in the form
of Exhibit A executed by the Issuer pursuant to the book-entry commercial paper program of The
Depository Trust Company (“DTC”). JPMorgan shall maintain the Master Note with all due care in
safekeeping, in accordance with its customary practices, on behalf of Cede & Co., the registered
owner thereof and nominee of DTC. As long as Cede & Co. is the registered owner of the Master
Note, the beneficial ownership interest therein shall be shown on, and the transfer of ownership
thereof shall be effected through, entries on the books maintained by DTC and the books of its
direct and indirect participants. The Master Note and the Book-Entry Notes shall be subject to
DTC’s rules and procedures, as amended from time to time. JPMorgan shall not be liable or
responsible for sending transaction statements of any kind to DTC’s participants or the beneficial
owners of the Book-Entry Notes, or for maintaining, supervising or reviewing the records of DTC or
its participants with respect to such Notes. In connection with DTC’s program, the Issuer
understands that as one of the conditions of its participation therein, it shall be necessary for
the Issuer and JPMorgan to enter into a Letter of Representations, in the form of Exhibit B hereto,
and for DTC to receive and accept such Letter of Representations. In accordance with DTC’s
program, JPMorgan shall obtain from the CUSIP Service Bureau a written list of CUSIP numbers for
Issuer’s Book-Entry Notes, and JPMorgan shall deliver such list to DTC. The CUSIP Service Bureau
shall bill the Issuer directly for the fee or fees payable for the list of CUSIP numbers for the
Issuer’s Book-Entry Notes.

7. ISSUANCE INSTRUCTIONS TO JPMORGAN; PURCHASE PAYMENTS

     The Issuer understands that all instructions under this Agreement are to be directed to
JPMorgan’s Commercial Paper Operations Department. JPMorgan shall provide the Issuer, or, if
applicable, the Issuer’s Dealers, with access to JPMorgan’s Money Market Issuance System or other
electronic means (collectively, the “System") in order that JPMorgan may receive electronic
instructions for the issuance of Notes. Electronic instructions must be transmitted in accordance
with the procedures furnished by JPMorgan to the Issuer or its Dealers in connection with the
System. These transmissions shall be the equivalent to the giving of a duly authorized written and
signed instruction which JPMorgan may act upon without liability. In the event that the System is
inoperable at any time, an Authorized Representative or a Delegate may deliver written, telephone
or facsimile instructions to JPMorgan, which instructions shall be verified in accordance with any
security procedures agreed upon by the parties. JPMorgan shall incur no liability to the Issuer in
acting upon instructions believed by JPMorgan in good faith to have been given by an Authorized
Representative or a Delegate. In the event that a discrepancy exists between a telephonic
instruction and a written confirmation, the telephonic instruction will be deemed the controlling
and proper instruction. JPMorgan may electronically record any conversations made pursuant to this
Agreement, and the Issuer hereby consents to such recordings. All issuance instructions regarding
the Notes must be received by 1:00 P.M. New York time in order for the Notes to be issued or
delivered on the same day.

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(a) Issuance and Purchase of Book-Entry Notes. Upon receipt of issuance
instructions from
the Issuer or its
Dealers with respect
to Book-Entry Notes,
JPMorgan shall
transmit such
instructions to DTC
and direct DTC to
cause appropriate
entries of the
Book-Entry Notes to
be made in
accordance with
DTC’s applicable
rules, regulations
and procedures for
book-entry
commercial paper
programs. JPMorgan
shall assign CUSIP
numbers to the
Issuer’s Book-Entry
Notes to identify
the Issuer’s
aggregate principal
amount of
outstanding
Book-Entry Notes in
DTC’s system,
together with the
aggregate unpaid
interest (if any) on
such Notes.
Promptly following
DTC’s established
settlement time on
each issuance date,
JPMorgan shall
access DTC’s system
to verify whether
settlement has
occurred with
respect to the
Issuer’s Book-Entry
Notes. Prior to the
close of business on
such business day,
JPMorgan shall
deposit immediately
available funds in
the amount of the
proceeds due the
Issuer (if any) to
the Issuer’s account
at JPMorgan and
designated in the
applicable Program
Schedule (the
“Account"),
provided, that
JPMorgan has
received DTC’s
confirmation that
the Book-Entry Notes
have settled in
accordance with
DTC’s applicable
rules, regulations
and procedures.
JPMorgan shall have
no liability to the
Issuer whatsoever if
any DTC participant
purchasing a
Book-Entry Note
fails to settle or
delays in settling
its balance with DTC
or if DTC fails to
perform in any
respect.

(b) Issuance and Purchase of Certificated Notes. Upon receipt of issuance
instructions with
respect to
Certificated Notes,
JPMorgan shall: (a)
complete each
Certificated Note as
to principal amount,
date of issue,
maturity date, place
of payment, and rate
or amount of
interest (if such
Note is interest
bearing) in
accordance with such
instructions; (b)
countersign each
Certificated Note;
and (c) deliver each
Certificated Note in
accordance with the
Issuer’s
instructions, except
as otherwise set
forth below.
Whenever JPMorgan is
instructed to
deliver any
Certificated Note by
mail, JPMorgan shall
strike from the
Certificated Note
the word “Bearer,”
insert as payee the
name of the person
so designated by the
Issuer and effect
delivery by
certified or
registered mail to
such payee or to
such other person as
is specified in such
instructions to
receive the
Certificated Note.
The Issuer
understands that, in
accordance with the
custom prevailing in
the commercial paper
market, delivery of
Certificated Notes
shall be made before
the actual receipt
of payment for such
Notes in immediately
available funds,
even if the Issuer
instructs JPMorgan
to deliver a
Certificated Note
against payment.
Therefore, once
JPMorgan has
delivered a
Certificated Note to
the designated
recipient, the
Issuer shall bear
the risk that such
recipient may fail
to remit payment of
such Note or return
such Note to
JPMorgan. Delivery
of Certificated
Notes shall be
subject to the rules
of the New York
Clearing House in
effect at the time
of such delivery.
Funds received in
payment of
Certificated Notes
shall be credited to
the Account.

8. USE OF SALES PROCEEDS IN ADVANCE OF PAYMENT

     JPMorgan shall not be obligated to credit the Issuer’s Account unless and until payment of the
purchase price of each Note is received by JPMorgan. From time to time, JPMorgan, in its sole
discretion, may permit the Issuer to have use of funds payable with respect to a Note prior to
JPMorgan’s receipt of the sales proceeds of such Note. If JPMorgan makes a deposit, payment or
transfer of funds on behalf of the Issuer before JPMorgan receives payment for any Note, such
deposit, payment or transfer of funds shall represent an advance by JPMorgan to the Issuer to be
repaid promptly, and in any event on the same day as it is made, from the proceeds of the sale of
such Note, or by the Issuer if such proceeds are not received by JPMorgan.

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9. PAYMENT OF MATURED NOTES

     Notice that the Issuer will not redeem any Note on the relative Initial Redemption Date (as
defined in the applicable Extendible Commercial Note Announcement) must be received in writing by
JPMorgan by 11:00 A.M. New York time on such Initial Redemption Date. On any other day when a Note
matures or is prepaid, the Issuer shall transmit, or cause to be transmitted, to the Account, prior
to 2:00 P.M. New York time on the same day, an amount of immediately available funds sufficient to
pay the aggregate principal amount of such Note and any applicable interest due. JPMorgan shall
pay the interest (if any) and principal on a Book-Entry Note to DTC in immediately available funds,
which payment shall be made by net settlement of JPMorgan’s account at DTC. JPMorgan shall pay
Certificated Notes upon presentment. JPMorgan shall have no obligation under the Agreement to make
any payment for which there is not sufficient, available and collected funds in the Account, and
JPMorgan may, without liability to the Issuer, refuse to pay any Note that would result in an
overdraft to the Account.

10. OVERDRAFTS

(a) Intraday overdrafts with respect to each Account shall be subject to
JPMorgan’s policies as in effect from time to time.

(b) An overdraft will exist in an Account if JPMorgan, in its sole discretion, (i)
permits an advance to be made pursuant to Section 8 and, notwithstanding the
provisions of Section 8, such advance is not repaid in full on the same day as it
is made, or (ii) pays a Note pursuant to Section 9 in excess of the available
collected balance in such Account. Overdrafts shall be subject to JPMorgan’s
established banking practices, including, without limitation, the imposition of
interest, funds usage charges and administrative fees, at rates previously
negotiated between the Issuer and JPMorgan. The Issuer shall repay any such
overdraft, fees and charges no later than the next business day, together with
interest on the overdraft at the rate established by JPMorgan for the Account,
computed from and including the date of the overdraft to the date of repayment.

11. NO PRIOR COURSE OF DEALING

     No prior action or course of dealing on the part of JPMorgan with respect to advances of the
purchase price or payments of matured Notes shall give rise to any claim or cause of action by the
Issuer against JPMorgan in the event that JPMorgan refuses to pay or settle any Notes for which the
Issuer has not timely provided funds as required by this Agreement.

12. RETURN OF CERTIFICATED NOTES

     JPMorgan will in due course cancel any Certificated Note presented for payment and return such
Note to the Issuer. JPMorgan shall also cancel and return to the Issuer any spoiled or voided
Certificated Notes. Promptly upon written request of the Issuer or at the termination of this
Agreement, JPMorgan shall destroy all blank, unissued Certificated Notes in its possession and
furnish a certificate to the Issuer certifying such actions.

13. INFORMATION FURNISHED BY JPMORGAN

     Upon the reasonable request of the Issuer, JPMorgan shall promptly provide the Issuer with
information with respect to any Note issued and paid hereunder, provided, that the Issuer
delivers such request in writing and, to the extent applicable, includes the serial number or note
number, principal amount, payee, date of issue, maturity date, amount of interest (if any) and
place of payment of such Note.

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14. REPRESENTATIONS AND WARRANTIES

     The Issuer represents and warrants that: (i) it has the right, capacity and authority to enter
into this Agreement; and (ii) it will comply with all of its obligations and duties under this
Agreement. The Issuer further represents and agrees that each Note issued and distributed upon its
instruction pursuant to this Agreement shall constitute the Issuer’s representation and warranty to
JPMorgan that such Note is a legal, valid and binding obligation of the Issuer, and that such Note
is being issued in a transaction which is exempt from registration under the Securities Act of
1933, as amended, and any applicable state securities law.

15. DISCLAIMERS

     Neither JPMorgan nor its directors, officers, employees or agents shall be liable for any act
or omission under this Agreement except in the case of gross negligence or willful misconduct. IN
NO EVENT SHALL JPMORGAN BE LIABLE FOR SPECIAL, INDIRECT OR CONSEQUENTIAL LOSS OR DAMAGE OF ANY KIND
WHATSOEVER (INCLUDING BUT NOT LIMITED TO LOST PROFITS), EVEN IF JPMORGAN HAS BEEN ADVISED OF THE
LIKELIHOOD OF SUCH LOSS OR DAMAGE AND REGARDLESS OF THE FORM OF ACTION. In no event shall JPMorgan
be considered negligent in consequence of complying with DTC’s rules, regulations and procedures.
The duties and obligations of JPMorgan, its directors, officers, employees or agents shall be
determined by the express provisions of this Agreement and they shall not be liable except for the
performance of such duties and obligations as are specifically set forth herein and no implied
covenants shall be read into this Agreement against them. Neither JPMorgan nor its directors,
officers, employees or agents shall be required to ascertain whether any issuance or sale of any
Notes (or any amendment or termination of this Agreement) has been duly authorized or is in
compliance with any other agreement to which the Issuer is a party (whether or not JPMorgan is also
a party to such agreement).

16. INDEMNIFICATION

     The Issuer agrees to indemnify, defend and hold harmless JPMorgan, its directors, officers,
employees and agents (collectively, “indemnitees”) from and against any and all liabilities,
claims, losses, damages, penalties, costs and expenses (including attorneys’ fees and
disbursements) suffered or incurred by or asserted or assessed against any indemnitee arising out
of any of them acting as the Issuer’s agent under this Agreement, except in respect of any
indemnitee for any such liability, claim, loss, damage, penalty, cost or expense resulting from the
gross negligence, bad faith or willful misconduct of such indemnitee. The Issuer shall not be
liable for any settlement of any proceeding effected without its consent, and such consent shall
not be unreasonably withheld, but if settled with such consent or if there be a final judgment for
the plaintiff, the Issuer agrees to indemnify the indemnitees from and against any loss or
liability by reason of such settlement or judgment. This indemnity will survive the termination of
this Agreement.

17. OPINION OF COUNSEL

     The Issuer shall deliver to JPMorgan all documents it may reasonably request relating to the
corporate existence of the Issuer and authority of the Issuer to enter into this Agreement,
including, without limitation, an opinion or opinions of counsel, substantially in the form of
Exhibit C hereto.

18. NOTICES

     All notices, confirmations and other communications hereunder shall (except to the extent
otherwise expressly provided) be in writing and shall be sent by first-class mail, postage prepaid,
by telecopier or by hand, addressed as follows, or to such other address as the party receiving
such notice shall have previously specified to the party sending such notice:

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	If to the Issuer:

	 	Geri Westphal, Vice President and Assistant Treasurer
	

	 	c/o Delphi Asset Management Corporation
	

	 	6005 Plumas Street, Suite 202
	

	 	Reno, NV 89509-6000
	

	 	Telephone Number: 1-775-689-3402
	

	 	Fax Number: 1-775-828-6270
	 
	 	 
	With copies to:

	 	Daniel Cooperman
	

	 	Senior Vice President, General Counsel and Secretary
	

	 	Oracle Corporation
	

	 	500 Oracle Parkway, Mailstop 5OP7
	

	 	Redwood Shores, CA 94065
	

	 	Telephone Number: 1-650-506-5500
	

	 	Fax Number: 1-650-506-7114

If to JPMorgan concerning the daily issuance and redemption of Notes:

	 	 	 	 	 
	 	 	Attention: Commercial Paper Operations
	 	 	227 West Monroe, 26th Floor
	 	 	Chicago, IL 60606
	

	 	Telephone:
	 	(312) 267-5100
	

	 	Facsimile:
	 	(312) 267-5202
	 
	 	 	 	 
	All other:	 	Attention: Commercial Paper Client Services
	 	 	227 West Monroe, 26th Floor
	 	 	Chicago, IL 60606
	

	 	Telephone:
	 	(312) 267-5044
	

	 	Facsimile:
	 	(312) 267-5212

19. COMPENSATION

     The Issuer shall pay compensation for services pursuant to this Agreement in accordance with
the pricing schedules furnished by JPMorgan to the Issuer from time to time and upon such payment
terms as the parties shall determine. The Issuer shall also reimburse JPMorgan for any fees and
charges imposed by DTC with respect to services provided in connection with the Book-Entry Notes.

20. BENEFIT OF AGREEMENT

     This Agreement is solely for the benefit of the parties hereto and no other person (other than
the indemnitee identified in Section 16) shall acquire or have any right under or by virtue hereof.

21. TERMINATION

     This Agreement may be terminated at any time by either party by thirty (30) days’ prior
written notice to the other, but such termination shall not affect the respective liabilities of
the parties hereunder arising prior to such termination, provided that JPMorgan shall continue
acting as agent hereunder until a successor agent has been appointed. If the Issuer has failed to
appoint a successor prior to the expiration of thirty (30) days following receipt of the notice of
resignation or removal of JPMorgan, JPMorgan, at the Issuer’s expense, may petition any court of
competent jurisdiction for the appointment of a successor and any such resulting appointment shall
be binding upon the Issuer.

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22. FORCE MAJEURE

     In no event shall JPMorgan be liable for any failure or delay in the performance of its
obligations hereunder because of circumstances beyond JPMorgan’s control, including, but not
limited to, acts of God, flood, war (whether declared or undeclared), terrorism, fire, riot,
strikes or work stoppages for any reason, embargo, government action, including any laws,
ordinances, regulations or the like which restrict or prohibit the providing of the services
contemplated by this Agreement, inability to obtain material, equipment, or communications or
computer facilities, or the failure of equipment or interruption of communications or computer
facilities, and other causes beyond JPMorgan’s control whether or not of the same class or kind as
specifically named above.

23. ENTIRE AGREEMENT

     This Agreement, together with the exhibits attached hereto, constitutes the entire agreement
between JPMorgan and the Issuer with respect to the subject matter hereof and supersedes in all
respects all prior proposals, negotiations, communications, discussions and agreements between the
parties concerning the subject matter of this Agreement.

24. WAIVERS AND AMENDMENTS

     No failure or delay on the part of any party in exercising any power or right under this
Agreement shall operate as a waiver, nor does any single or partial exercise of any power or right
preclude any other or further exercise, or the exercise of any other power or right. Any such
waiver shall be effective only in the specific instance and for the purpose for which it is given.
No amendment, modification or waiver of any provision of this Agreement shall be effective unless
the same shall be in writing and signed by the Issuer and JPMorgan.

25. BUSINESS DAY

     Whenever any payment to be made hereunder shall be due on a day which is not a business day
for JPMorgan in New York City, then such payment shall be made on JPMorgan’s next succeeding
business day.

26. COUNTERPARTS

     This Agreement may be executed in counterparts, each of which shall be deemed an original and
such counterparts together shall constitute but one instrument.

27. HEADINGS

     The headings in this Agreement are for purposes of reference only and shall not in any way
limit or otherwise affect the meaning or interpretation of any of the terms of this Agreement.

28. GOVERNING LAW

     This Agreement and the Notes shall be governed by and construed in accordance with the laws of
the State of New York, without regard to the conflict of laws provisions thereof.

29. JURISDICTION AND VENUE

     Each party hereby irrevocably and unconditionally submits to the jurisdiction of the United
States District Court for the Southern District of New York and any New York State court located in
the Borough of Manhattan in New York City and of any appellate court from any thereof for the
purposes of any legal suit, action or proceeding arising out of or relating to this Agreement (a
“Proceeding"). Each party hereby irrevocably agrees that all claims in respect of any Proceeding
may be heard and determined in such Federal or New York State court and irrevocably waives, to

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the fullest extent it may effectively do so, any objection it may now or hereafter have to the
laying of venue of any Proceeding in any of the aforementioned courts and the defense of an
inconvenient forum to the maintenance of any Proceeding.

30. WAIVER OF TRIAL BY JURY

     EACH PARTY HEREBY WAIVES ALL RIGHT TO TRIAL BY JURY IN ANY PROCEEDING ARISING OUT OF OR
RELATING TO ANY OF THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

31. ACCOUNT CONDITIONS

     Each Account shall be subject to JPMorgan’s account conditions, as in effect from time to
time, and furnished in writing to the Issuer.

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     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be executed on their
behalf by duly authorized officers as of the day and year first-above written.

	 	 	 	 	 	 	 
	JPMORGAN CHASE BANK,	 	ORACLE CORPORATION
	  NATIONAL ASSOCIATION	 	 	 	 
	 
	 	 	 	 	 	 
	By:

	 	 
	 	By:
	 	 
	

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Name:

	 	 
	 	Name:
	 	 
	

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Title:

	 	 
	 	Title:
	 	 
	

	 	 
	 	 	 	 
	 
	 	 	 	 	 	 
	Date:

	 	 
	 	Date:
	 	 
	

	 	 
	 	 	 	 

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EXHIBIT A

(DTC Master Note)

EXHIBIT B

(DTC Letter of Representations)

TO FOLLOW

AND

EXHIBIT C

(Form Of Opinion)

SEE DEALER AGREEMENTexv10w1

 

EXHIBIT 10.1 SUMMARY SHEET: 2005 EXECUTIVE OFFICER ANNUAL BASE SALARY

	 	 	 	 	 	 	 	 	 
	 
	 	Name	 	 	Title	 	 	2005 Base Salary	 
	 	G. Thomas Graves III
	 	 	President and Chief Executive Officer	 	 	$390,000	 
	 	Douglas W. Weir
	 	 	Senior Vice President – Chief Financial Officer	 	 	$205,000	 
	 	Michael J. FitzGerald
	 	 	Senior Vice President – Exploration and Production	 	 	$200,000

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