Document:

exv10w2

 

Exhibit 10.2

SECOND AMENDMENT

Dated as of September 17, 2007

to

WARRANT AGREEMENT

Dated as of December 30, 2005

between

IDLEAIRE TECHNOLOGIES CORPORATION

and

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Warrant Agent

Warrants to Purchase Shares of Common Stock

 

 

     This SECOND AMENDMENT TO THE WARRANT AGREEMENT (the “Warrant Amendment”), dated as of
September 17, 2007, is entered into by and among IDLEAIRE TECHNOLOGIES CORPORATION, a Delaware
corporation (the “Company”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking
association, as Warrant Agent (the “Warrant Agent”).

Preliminary Statements

     A. The Company and the Warrant Agent entered into a Warrant Agreement, dated as of December
30, 2005, as amended (the “Warrant Agreement”), pursuant to which the Company issued to the holders
of certain notes of the Company (the “Holders”) 320,000 warrants (the “Warrants”) to purchase
shares of common stock representing 30% of the Company’s Common Stock on a fully-diluted basis (the
“Warrant Shares”). Capitalized terms used in this Warrant Amendment but not otherwise defined
herein have the meanings ascribed to them in the Warrant Agreement and in the Warrants.

     B. Section 19 of the Warrant Agreement provides that the Warrant Agreement may be amended with
the consent of the Holders of at least a majority of the Warrants then outstanding (“Requisite
Consents”).

     C. The Company desires and has requested the Warrant Agent to join with it in entering into
this Warrant Amendment for the purpose of amending the Warrant Agreement in certain respects as
permitted by Section 19 of the Warrant Agreement.

     D. The execution and delivery of this Warrant Amendment has been authorized by the Board of
Directors of the Company.

     E. The Company circulated a Consent Solicitation Statement dated August 15, 2007, requesting
that the Holders as of the record date of August 14, 2007 give their written consent to implement
certain amendments to the Warrant Agreement embodied in this Warrant Amendment.

     F. The Company has received the Requisite Consents and has satisfied all other conditions
precedent, if any, provided under the Warrant Agreement to enable the Company and the Warrant Agent
to enter into this Warrant Amendment.

     NOW, THEREFORE, in consideration of the foregoing and of other valuable consideration, receipt
of which is hereby acknowledged, the parties hereby agree as set forth in this Warrant Amendment.

     1. Amendment of the Warrant Agreement. The Warrant Agreement is hereby amended as follows:

     (a) Amendment to Section 1. Section 1 of the Warrant Agreement is hereby amended to
add the following definitions:

     “Qualified Public Offering” means the closing on or before June 30, 2008 of the
initial underwritten public offering of Common Stock pursuant to an effective

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registration statement under the Securities Act of 1933, as amended, in which the
aggregate net proceeds to the Company from such offering (before underwriters discounts and
commissions) are not less than $100 million.

     (b) Addition of New Section 11A. The Warrant Agreement is hereby amended to add a
new Section 11A as follows:

     “Section 11A. Lock-Up on Qualified Public Offering.

     (a) The holders of any Warrant outstanding at the time of a Qualified Public
Offering will not, during the period ending 180 days after the date of the
prospectus relating to the Qualified Public Offering (the “Prospectus”), (1) offer,
pledge, announce the intention to sell, sell, contract to sell, sell any option or
contract to purchase, purchase any option or contract to sell, grant any option,
right or warrant to purchase, or otherwise transfer or dispose of, directly or
indirectly, any shares of Common Stock or any securities convertible into or
exercisable or exchangeable for Common Stock (including without limitation, Common
Stock which may be deemed to be beneficially owned by the undersigned in accordance
with the rules and regulations of the Securities and Exchange Commission and
securities which may be issued upon exercise of a stock option or warrant) or (2)
enter into any swap or other agreement that transfers, in whole or in part, any of
the economic consequences of ownership of the Common Stock, whether any such
transaction described in clause (1) or (2) above is to be settled by delivery of
Common Stock or such other securities, in cash or otherwise. In addition, the
undersigned agrees that, without the prior written consent of the underwriters of
the Qualified Public Offering, it will not, during the period ending 180 days after
the date of the Prospectus, make any demand for or exercise any right with respect
to, the registration of any shares of Common Stock or any security convertible into
or exercisable or exchangeable for Common Stock. Notwithstanding the foregoing, if
(1) during the last 17 days of the 180-day restricted period, the Company issues an
earnings release or material news or a material event relating to the Company
occurs; or (2) prior to the expiration of the 180-day restricted period, the Company
announces that it will release earnings results during the 16-day period beginning
on the last day of the 180-day period, the restrictions imposed by this provision
shall continue to apply until the expiration of the 18-day period beginning on the
issuance of the earnings release or the occurrence of the material news or material
event.

     (b) In furtherance of the foregoing, the Company, and any duly appointed transfer agent for
the registration or transfer of the securities described herein, are hereby authorized to decline
to make any transfer of securities if such transfer would constitute a violation or breach of this
Agreement.”

     2. Defined Terms. For all purposes of this Warrant Amendment, except as otherwise defined or
unless the context otherwise requires, terms used herein in capitalized form and defined in the
Warrant Agreement shall have the meanings specified in the Warrant Agreement.

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     3. Warrant Agreement. Except as amended hereby, the Warrant Agreement is in all respects
ratified and confirmed and all the terms thereof shall remain in full force and effect. This
Warrant Amendment shall form a part of the Warrant Agreement for all purposes, and every holder of
the Warrants heretofore or hereafter authenticated and delivered under the Warrant Agreement shall
be bound by the Warrant Agreement as amended hereby. In the case of conflict between the Warrant
Agreement and this Warrant Amendment, the provisions of this Warrant Amendment shall control.

     4. Governing Law. This Warrant Amendment will be governed by, and construed in accordance
with, the laws of the state of New York.

     5. Successors. All agreements of the Company and the Warrant Agent in this Warrant Amendment
and the Warrants shall bind their respective successors.

     6. Counterparts. The parties may sign any number of copies of this Warrant Amendment. Each
signed copy shall be an original, but all of them together shall represent the same agreement.

     7. Severability. In case any one or more of the provisions in this Warrant Amendment or in
the Warrants shall be held invalid, illegal or unenforceable, in any respect for any reason, the
validity, legality and enforceability of any such provision in every other respect and of the
remaining provisions shall not in any way be affected or impaired thereby, it being intended that
all of the provisions hereof shall be enforceable to the full extent permitted by law.

     8. Warrant Agent Disclaimer. The Warrant Agent makes no representation as to the validity or
sufficiency of this Warrant Amendment. The recitals to this Warrant Amendment are the statements
of the Company and the Warrant Agent shall have no responsibility for such recitals.

[Signatures set forth on following page.]

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     IN WITNESS WHEREOF, the parties have caused this Warrant Amendment to be duly executed by and
through their respective officers, thereunto duly authorized, all as of the date and year first
written above.

	 	 	 	 	 
	 	 	IDLEAIRE TECHNOLOGIES CORPORATION
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Michael C. Crabtree
	 

	 	 	 	 
	 

	 	Name:
	 	Michael C. Crabtree
	 

	 	Title:
	 	Chief Executive Officer
	 
	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL ASSOCIATION, a

national banking association, as Warrant Agent
	 
	 	 	 	 
	 

	 	By:
	 	/s/ Jane Y. Schweiger
	 

	 	 	 	 
	 

	 	 	 	Name: Jane Y. Schweiger
	 

	 	 	 	Title: Vice President

5exv10w2

 

EXHIBIT 10.2

AMENDMENT TO THE SPIRIT AEROSYSTEMS HOLDINGS, INC.

SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN

     This Amendment to the Spirit AeroSystems Holdings, Inc. Supplemental Executive Retirement Plan
is made this 30th day of July, 2007.

     WHEREAS, Spirit AeroSystems Holdings, Inc. (the “Company”) maintains the Spirit AeroSystems
Holdings, Inc. Supplemental Executive Retirement Plan (the “Plan”); and

     WHEREAS, the Company has reserved the right to amend the Plan.

     NOW,
THEREFORE in consideration of the foregoing premises, effective July 1, 2007, Section 5.02
shall be amended by adding the following new paragraphs at the end thereof:

     In the event payment hereunder is made in shares of stock, any required
withholdings or reductions may be accomplished by any of the following methods (or any
combination of the following methods), as determined by the Committee in its Sole
Discretion: (i) the total number of shares of stock to be transferred may be reduced by
a number of whole or fractional shares of stock (as determined by the Committee, in its
Sole Discretion), the value of which will be applied to satisfy such withholdings or
reductions, but if the value of the shares so withheld exceeds such withholdings or
reductions, such excess shall be paid in cash to the Participant
within
21/2 months after
the date the withholding occurs; (ii) the amount of the withholdings or reductions may
be withheld from other amounts payable to the Participant by the Employer, including,
but not limited to, other compensation; (iii) the Participant may be required, as a
condition precedent to transfer of the shares of stock, to make a payment to the
Employer in an amount equal to the amount of the withholdings or reductions (e.g. by
selling a sufficient number of shares); or (iv) such other method or combination of
methods as the Committee deems appropriate, in its Sole Discretion.

     Shares of stock transferred to a Participant (or Beneficiary) under the Plan (if
any) shall be subject to any and all terms, conditions, and restrictions, including, but
not limited to, restrictions on transfer, as are set forth in the Company’s articles of
incorporation, bylaws, and any stockholders agreement or other agreement entered into
with respect to such Stock, all as in effect from time to time. The Committee shall have
the right, in its Sole Discretion, to require, as a condition precedent to the transfer
of any share of stock hereunder, that the transferee execute a stockholders agreement
and/or such other agreement(s) or documents (e.g., power of attorney) as the Committee
deems necessary or appropriate, in such form and substance as may be satisfactory to the
Committee.

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     IN WITNESS WHEREOF, the foregoing amendment is executed as of the day, month, and year first
appearing above.

	 	 	 	 	 
	 	Spirit AeroSystems Holdings, Inc.

 	 
	 	By  	/s/
Gloria Farha Flentje	 
	 	 	Gloria Farha Flentje
V. P.
General Counsel and Secretary	 
	 

	 	 	 	 	 
	ATTEST: 

 	 	 
	/s/
F. J. Dodds III	 	 
	F. J. Dodds III
Deputy General Counsel

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