Document:

EX-10.6

Exhibit 10.6

CONSULTING AGREEMENT

          This CONSULTING AGREEMENT (this “Agreement”) is made and entered into as of February
2, 2009 (the “Effective Date”) by and among Premier Exhibitions, Inc., a Florida
corporation, and its subsidiaries (the “Company”), Foxdale Management, LLC, an Illinois limited
liability company (the “Consulting Company”), and Mr. Samuel Weiser (“Consultant”).

          WHEREAS, the Company is engaged in the business of developing and touring museum quality
exhibitions (the “Business”); and

          WHEREAS, in connection with the Business, the Company desires to retain the Consulting Company
and Consultant to provide consulting services as may be necessary and desirable to enable the
Company to conduct the Business as is more fully described below (the “Consulting
Services”); and

          WHEREAS, the Company desires to contract with Consulting Company and Consultant, and
Consulting Company and Consultant desire to accept such engagement from the Company, for the
provision of the Consulting Services upon the terms and conditions hereinafter set forth.

          NOW, THEREFORE, in consideration of the mutual covenants and conditions contained herein and
other good and valuable consideration, and intending to be legally bound hereby, the Consulting
Company, Consultant and the Company agree as follows:

     Section 1. Consulting Services.

          (a) During the Term (as defined below), Consulting Company shall make Consultant available to
undertake and complete the Consulting Services and agrees not to assign or delegate the Consulting
Services to any other party.

          (b) Consultant shall be engaged to act as the interim Chief Operating Officer of the Company,
authorized, as such, to execute documents and agreements on behalf of the Company. Consultant’s
engagement with the Company shall be full-time. During the Term, Consultant shall devote all of
his time, attention, skill and ability as required during usual business hours (and outside those
hours, when reasonably necessary to his duties hereunder) to the faithful and diligent performance
of such duties and the exercise of such powers as may from time to time be assigned to or vested in
Consultant by the Board of Directors of the Company.

          (c) It is understood and agreed that (i) the Consulting Services shall be undertaken (A) at
the current offices of the Company located at 3340 Peachtree Road, Suite 2250, Atlanta, Georgia
30326 (the “Company Headquarters”) or (B) from such other location or locations as the Company may
reasonably determine; and (ii) Consultant shall be provided use of adequate office space and
secretarial support at the Company Headquarters throughout the Term.

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     Section 2. Compensation.

          (a) As compensation for the Consulting Services under this Agreement, the Company shall pay to
Consulting Company a consulting fee of One Thousand Two Hundred Fifty Dollars ($1,250) per day, not
to exceed sixteen days (16) days per month, payable at the end of each month during the Term.

          (b) After three (3) months of continuous service, Consultant shall be eligible to receive
additional compensation in the form of an incentive award or bonus payable in cash, stock or a
combination of cash
and stock in an amount to be determined by the Compensation Committee of the Board or
Directors of the Company based on performance objectives and criteria established by the interim
Chief Executive Officer and the Board of Directors of the Company. Payment of an incentive award
is discretionary and not a requirement for Consultant’s performance under this Agreement.

          (c) In the event that Consultant is engaged as an employee pursuant to an employment
agreement, Consultant (i) shall be eligible to participate in any bonus or incentive programs which
the Company institutes from time to time for the Company’s similarly situated executive officers,
subject to and on a basis consistent with the terms, conditions, and overall administration of such
bonus or incentive programs by the Company; and (ii) shall be entitled to participate in and to
receive benefits under all benefit plans and arrangements offered by the Company from time to time
to its similarly situated executive officers, subject to and on a basis consistent with the terms,
conditions, and overall administration of such plans and arrangements by the Company.
Notwithstanding the foregoing, nothing in this Agreement is intended, or shall be construed, to
require or preclude the Company from instituting or maintaining any bonus or incentive programs or
benefit plans or arrangements, nor shall the right of the Company to modify, suspend or discontinue
any and all bonus or incentive programs or benefit plans or arrangements be limited.

     Section 3. Certain Expenses.

          (a) Consultant shall be entitled to reimbursement from the Company for all reasonable expenses
actually incurred by Consultant in connection with the performance of the Consulting Services;
provided that such expenses are reasonably documented and pre-approved by the Company.

     Section 4. Term; Termination.

          (a) The Term of this Agreement (the “Term”) shall commence on the Effective Date and shall
continue until February 28, 2009. The Term shall automatically be extended by successive one (1)
month periods, unless, at least thirty (30) days prior to the end of the applicable renewal Term,
the Company shall deliver to Consulting Company and Consultant, or Consulting Company and
Consultant shall deliver to the Company, written notice that the Term shall not be so extended.

          (b) Death of Consultant. This Agreement shall terminate automatically upon Consultant’s
death. Upon the termination of Consultant’s engagement due to death, the Company shall pay to
Consultant’s heirs as soon as practicable after the effective date of such termination, any unpaid
compensation earned by Consultant through the effective date of such termination.

          (c) Disability of Consultant. For purposes of this Agreement, Consultant shall be deemed to
be under a “Disability” if Consultant shall be unable, by virtue of illness, physical or mental
incapacity, or disability (from any cause or causes whatsoever), to perform Consultant’s essential
job functions hereunder, whether with or without reasonable accommodation, in substantially the
manner and to the extent required hereunder prior to the commencement of such disability, for a
period exceeding thirty (30) consecutive calendar days. In the event Consultant shall remain under
a Disability for a period exceeding thirty (30) days (whether business or non-business days and
whether consecutive or non-consecutive), the Company shall have the right to terminate Consultant’s
engagement hereunder at the end of any calendar month.

          (d) Payments Following Termination. Upon termination of Consultant’s engagement pursuant to
any of the foregoing provisions of this Section 4, any right or benefit accrued by Consultant or
the Company or to which Consultant or the Company had become entitled pursuant to this Agreement
prior to such termination or expiration, and any Consultant or Company obligation with respect to
any such right or benefit, shall

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not be extinguished by reason of such termination or expiration
and shall be paid to the Company by Consultant or to Consultant by the Company, as the case may be.
Company shall have the right to offset any amounts due Company from Consultant from any amounts to
be paid to Consultant pursuant to this Agreement or otherwise.

     Section 5. Indemnification. During the Term, the Company shall indemnify and hold
harmless Consulting Company and Consultant from, against and in respect of any and all losses
arising out of or relating to Consultant’s performance of the Consulting Services; provided,
however, the Company shall have no obligation under this Section 5 to indemnify Consulting Company
and/or Consultant for any losses to the extent that such
losses resulted from (i) the gross negligence or willful misconduct of Consultant in his
performance of the Consulting Services, (ii) any violation of law by Consultant in his performance
of the Consulting Services, or (iii) breach of the terms of this Agreement by Consulting Company
and/or Consultant.

     Section 6. Relationship.

          (a) Consultant and the Company shall not be construed as joint venturers or partners as a
consequence of the relationship contemplated under this Agreement. Neither Consultant nor the
Company shall have the power to bind or obligate the other.

          (b) It is expressly intended by the parties hereto that Consultant be, vis-à-vis the Company,
an independent contractor and that Consultant will maintain the sole direction and control of the
manner and means of performing any requested Consulting Services. The specific means of
accomplishing the Consulting Services requested by the Company shall be left to the discretion of
Consultant.

     Section 7. Confidential Information. 

          (a) Consultant hereby covenants and agrees that, during the Term, he will hold in confidence
all Confidential Information (as defined below) of the Company and will not disclose, publish or
make use of such Confidential Information, except as is necessary to perform the Consulting
Services. Upon the request of the Company and, in any event, upon the termination of Consultant’s
engagement hereunder, Consultant will deliver to the Company all memoranda, notes, records, manuals
or other documents (including, but not limited to, written instruments, voice or data recordings,
or computer tapes, disks or files of any nature), including all copies of such materials and all
documentation prepared or produced in connection therewith, pertaining to the performance of the
Consulting Services, the business of the Company, or containing Trade Secrets (as defined below) or
Confidential Information regarding either the Company’s business, whether made or compiled by
Consultant or furnished to Consultant by virtue of his performance of the Consulting Services
hereunder.

          (b) For the purposes of this Section 7:

     (i) “Confidential Information” means any data or information (other
than Trade Secrets) that is valuable to the Company or any of its Subsidiaries (or,
if owned by someone else, is valuable to that third party) and not generally known
to the public or to competitors in the industry, including, but not limited to, any
non-public information (regardless of whether in writing or retained as personal
knowledge) pertaining to research and development; product costs and processes;
stockholder information; pricing, costs or profit factors; quality programs; annual
budget and long-range business plans; marketing plans and methods; contracts and
bids; and personnel.

     (ii) “Trade Secret” means information including, but not limited to, any
technical or nontechnical data, formula, pattern, compilation, program, device,
method, technique, drawing, process, financial data, financial plan, product plan,
list of actual or potential customers or suppliers or other information similar to
any of the foregoing, which (A) derives economic value, actual or potential, from
not being generally known to, and not being readily ascertainable by proper means
by, other persons who can derive economic value from its disclosure or use, and (B)
is the subject of efforts that are reasonable under the circumstances to maintain
its secrecy.

     Section 8. Assignment. The rights and obligations of Consultant under this Agreement
are personal to Consultant and may not be assigned or transferred to any other party. The Company
may assign its rights and obligations under this Agreement to any of its affiliates or
subsidiaries. Otherwise, the Company may assign its rights and obligations under this Agreement
only with the express written consent of Consultant; and any such

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assignment shall be of no force
and effect unless and until the assignee thereunder shall assume, in writing, any and all
obligations of the Company arising under this Agreement.

     Section 9. General Matters.

          (a) Captions. The captions utilized in this Agreement are for the purposes of
identification only and shall not control or affect the meaning or construction of any of the
provisions hereof.

          (b) Integration. This Agreement constitutes the entire agreement between the parties
with respect to the subject matter hereof and will supersede all previous negotiations,
representations, commitments and writings relating to the Consulting Services.

          (c) Modification and Waiver. This Agreement may not be amended, released, discharged,
rescinded or abandoned, except by a written agreement duly executed by each of the parties hereto.
The failure of any party hereto at any time to enforce any of the provisions of this Agreement will
in no way constitute or be construed as a waiver of such provision or of any other provision
hereof, nor in any way affect the validity of, or the right thereafter to enforce, each and every
provision of this Agreement.

          (d) Governing Law. This Agreement and its validity, construction, administration and
all rights hereunder, will be governed by the laws of the State of Illinois without regard to its
conflict of laws provisions.

          (e) Arbitration. Any controversy, dispute, disagreement, difference or claim arising
out of, under, in connection with or related to this Agreement shall be finally determined by
arbitration in accordance with the rules of the American Arbitration Association (“AAA”) then in
effect. The arbitration shall take place in Chicago, Illinois before an arbitral panel of three
arbitrators unless the parties agree that the matter shall be presented to a single arbitrator.
The arbitrators shall be chosen, subject to such time delays or periods as are fixed under the
aforesaid applicable rules, as follows. Each party shall select one arbitrator. If either party
fails to select an arbitrator, the arbitrator selected by the one party shall act as sole
arbitrator. If each party has selected an arbitrator, then the two arbitrators shall select a
third. If the two arbitrators do not agree on the selection of a third within fifteen (15) days
after having been requested to do so by either party or by the AAA, the third arbitrator shall be
selected by the AAA. Judgment upon any award rendered may be entered in any court having
jurisdiction. The prevailing party, or substantially prevailing party (if applicable), shall
recover its reasonable attorney’s fees together with its arbitrator fees and filing and other costs
of the arbitration proceeding.

          (f) Severability. The invalidity or unenforceability of any particular provision of
this Agreement shall not affect the other provisions hereof, and this Agreement shall be construed
in all respects as if such invalid or unenforceable provisions were omitted.

          (g) Notices. Wherever provision is made in this Agreement for the giving, service or
delivery of any notice, statement or other instrument, such notice shall be in writing and shall be
deemed to have been duly given, served and delivered, if delivered by hand or mailed by United
States registered or certified mail, addressed as follows:

	 	 	 	 	 	 	 
	 

	 	If to the Company:
	 	 	 	Premier Exhibitions, Inc.
	 

	 	 	 	 	 	3340 Peachtree Road, Suite 2250
	 

	 	 	 	 	 	Atlanta, Georgia 30326
	 

	 	 	 	 	 	Attn: Christopher J. Davino, Interim Chief Executive Officer

	 

	 	 	 	 	 	Fax: 404.842.2626
	 
	 	 	 	 	 	 
	 

	 	With a copy to:
	 	 	 	Thompson Hine LLP
	 

	 	 	 	 	 	335 Madison Avenue, 12th Floor
	 

	 	 	 	 	 	New York, New York 10017
	 

	 	 	 	 	 	Attn: Richard S. Heller, Esq.
	 

	 	 	 	 	 	Fax: 212.344.6101

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	 	If to Consulting Company:
	 	 	 	Foxdale Management, LLC
	 

	 	 	 	 	 	565 Willow Road
	 

	 	 	 	 	 	Winnetka, Illinois 60093
	 

	 	 	 	 	 	Attn: Samuel Weiser
	 

	 	 	 	 	 	Fax: 847.501.2671
	 
	 	 	 	 	 	 
	 

	 	If to Consultant:
	 	 	 	Samuel Weiser
	 

	 	 	 	 	 	565 Willow Road
	 

	 	 	 	 	 	Winnetka, Illinois 60093
	 

	 	 	 	 	 	Fax: 847.501.2671

     Each party hereto may change its mailing address by giving to the other, by hand delivery or
United States registered or certified mail, written notice of election to change such address and
of such new address.

          (h) Counterparts. This Agreement may be executed simultaneously in several
counterparts, each of which shall be deemed to be an original, but all of which shall constitute
one and the same instrument.

[Signature Page Follows.]

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     IN WITNESS WHEREOF, and intending to be legally bound hereby, the parties have executed this
Agreement as of the Effective Date.

	 	 	 	 	 	 	 
	 	 	COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	PREMIER EXHIBITIONS, INC.	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Christopher J. Davino
 

	 	 
	 	 	Name: Christopher J. Davino	 	 
	 	 	Title: Interim Chief Executive Officer	 	 
	 
	 	 	 	 	 	 
	 	 	CONSULTING COMPANY:	 	 
	 
	 	 	 	 	 	 
	 	 	FOXDALE MANAGEMENT, LLC	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Samuel Weiser
 

	 	 
	 	 	Name: Samuel Weiser	 	 
	 	 	Title: Managing Member	 	 
	 
	 	 	 	 	 	 
	 	 	CONSULTANT:	 	 
	 
	 	 	 	 	 	 
	 	 	/s/ Samuel Weiser	 	 
	 	 	 	 	 
	 	 	Mr. Samuel Weiser	 	 

6Unassociated Document

    WARRANT
TO PURCHASE COMMON STOCK

     

     

    THE
SECURITIES REPRESENTED BY THIS INSTRUMENT HAVE NOT BEEN REGISTERED UNDER THE
SECURITIES ACT OF 1933, AS AMENDED, OR THE SECURITIES LAWS OF ANY STATE AND MAY
NOT BE TRANSFERRED, SOLD OR OTHERWISE DISPOSED OF EXCEPT WHILE A REGISTRATION
STATEMENT RELATING THERETO IS IN EFFECT UNDER SUCH ACT AND APPLICABLE STATE
SECURITIES LAWS OR PURSUANT TO AN EXEMPTION FROM REGISTRATION UNDER SUCH ACT OR
SUCH LAWS.  THIS INSTRUMENT IS ISSUED SUBJECT TO THE RESTRICTIONS ON
TRANSFER AND OTHER PROVISIONS OF A SECURITIES PURCHASE AGREEMENT BETWEEN THE
ISSUER OF THESE SECURITIES AND THE INVESTOR REFERRED TO THEREIN, A COPY OF WHICH
IS ON FILE WITH THE ISSUER.  THE SECURITIES REPRESENTED BY THIS
INSTRUMENT MAY NOT BE SOLD OR OTHERWISE TRANSFERRED EXCEPT IN COMPLIANCE WITH
SAID AGREEMENT.  ANY SALE OR OTHER TRANSFER NOT IN COMPLIANCE WITH
SAID AGREEMENT WILL BE VOID.

     

     

    WARRANT

    to
purchase

     

     

    13,049,451

    Shares
of Common Stock

     

     

    of
LINCOLN NATIONAL CORPORATION

     

     

    Issue
Date: July 10, 2009

     

     

    1. Definitions.  Unless
the context otherwise requires, when used herein the following terms shall have
the meanings indicated.

     

     

    “Affiliate” has the meaning
ascribed to it in the Purchase Agreement.

     

     

    “Appraisal Procedure” means a
procedure whereby two independent appraisers, one chosen by the Company and one
by the Original Warrantholder, shall mutually agree upon the determinations then
the subject of appraisal.  Each party shall deliver a notice to the
other appointing its appraiser within 15 days after the Appraisal Procedure is
invoked.  If within 30 days after appointment of the two appraisers
they are unable to agree upon the amount in question, a third independent
appraiser shall be chosen within 10 days thereafter by the mutual consent of
such first two appraisers.  The decision of the third appraiser so
appointed and chosen shall be given within 30 days after the selection of such
third appraiser.  If three appraisers shall be appointed and the
determination of one appraiser is disparate from the middle determination

     

     

    
      
        
        

      

      
        
        

        
          

        

      

      
        
        

      

    

     

    by more
than twice the amount by which the other determination is disparate from the
middle determination, then the determination of such appraiser shall be
excluded, the remaining two determinations shall be averaged and such average
shall be binding and conclusive upon the Company and the Original Warrantholder;
otherwise, the average of all three determinations shall be binding upon the
Company and the Original Warrantholder.  The costs of conducting any
Appraisal Procedure shall be borne by the Company.

     

    “Board of Directors” means the
board of directors of the Company, including any duly authorized committee
thereof.

     

    “Business Combination” means a
merger, consolidation, statutory share exchange or similar transaction that
requires the approval of the Company’s stockholders.

     

    “business day” means any day
except Saturday, Sunday and any day on which banking institutions in the State
of New York generally are authorized or required by law or other governmental
actions to close.

     

    “Capital Stock” means (A) with
respect to any Person that is a corporation or company, any and all shares,
interests, participations or other equivalents (however designated) of capital
or capital stock of such Person and (B) with respect to any Person that is not a
corporation or company, any and all partnership or other equity interests of
such Person.

     

    “Charter” means, with respect
to any Person, its certificate or articles of incorporation, articles of
association, or similar organizational document.

     

    “Common Stock” has the meaning
ascribed to it in the Purchase Agreement.

     

    “Company” means the Person
whose name, corporate or other organizational form and jurisdiction of
organization is set forth in Item 1 of Schedule A hereto.

     

    “conversion” has the meaning
set forth in Section 13(B).

     

    “convertible securities” has
the meaning set forth in Section 13(B).

     

    “CPP” has the meaning ascribed
to it in the Purchase Agreement.

     

    “Exchange Act” means the
Securities Exchange Act of 1934, as amended, or any successor statute, and the
rules and regulations promulgated thereunder.

     

    “Exercise Price” means the
amount set forth in Item 2 of Schedule A hereto.

     

    “Expiration Time” has the
meaning set forth in Section 3.

     

    “Fair Market Value” means,
with respect to any security or other property, the fair market value of such
security or other property as determined by the Board of Directors, acting in
good faith or, with respect to Section 14, as determined by the Original
Warrantholder acting in good faith.  For so long as the Original
Warrantholder holds this Warrant or any portion thereof, it may object in
writing to the Board of Director’s calculation of fair market value within

     

     

    
      
        
        

      

      
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    10 days
of receipt of written notice thereof.  If the Original Warrantholder
and the Company are unable to agree on fair market value during the 10-day
period following the delivery of the Original Warrantholder’s objection, the
Appraisal Procedure may be invoked by either party to determine Fair Market
Value by delivering written notification thereof not later than the 30th day
after delivery of the Original Warrantholder’s objection.

     

    “Governmental Entities” has
the meaning ascribed to it in the Purchase Agreement.

     

    “Initial Number” has the
meaning set forth in Section 13(B).

     

    “Issue Date” means the date
set forth in Item 3 of Schedule A hereto.

     

    “Market Price” means, with
respect to a particular security, on any given day, the last reported sale price
regular way or, in case no such reported sale takes place on such day, the
average of the last closing bid and ask prices regular way, in either case on
the principal national securities exchange on which the applicable securities
are listed or admitted to trading, or if not listed or admitted to trading on
any national securities exchange, the average of the closing bid and ask prices
as furnished by two members of the Financial Industry Regulatory Authority, Inc.
selected from time to time by the Company for that purpose.  “Market
Price” shall be determined without reference to after hours or extended hours
trading.  If such security is not listed and traded in a manner that
the quotations referred to above are available for the period required
hereunder, the Market Price per share of Common Stock shall be deemed to be (i)
in the event that any portion of the Warrant is held by the Original
Warrantholder, the fair market value per share of such security as determined in
good faith by the Original Warrantholder or (ii) in all other circumstances, the
fair market value per share of such security as determined in good faith by the
Board of Directors in reliance on an opinion of a nationally recognized
independent investment banking corporation retained by the Company for this
purpose and certified in a resolution to the Warrantholder.  For the
purposes of determining the Market Price of the Common Stock on the “trading
day” preceding, on or following the occurrence of an event, (i) that trading day
shall be deemed to commence immediately after the regular scheduled closing time
of trading on the New York Stock Exchange or, if trading is closed at an earlier
time, such earlier time and (ii) that trading day shall end at the next regular
scheduled closing time, or if trading is closed at an earlier time, such earlier
time (for the avoidance of doubt, and as an example, if the Market Price is to
be determined as of the last trading day preceding a specified event and the
closing time of trading on a particular day is 4:00 p.m. and the specified event
occurs at 5:00 p.m. on that day, the Market Price would be determined by
reference to such 4:00 p.m. closing price).

     

    “Ordinary Cash Dividends”
means a regular quarterly cash dividend on shares of Common Stock out of surplus
or net profits legally available therefor (determined in accordance with
generally accepted accounting principles in effect from time to time), provided that Ordinary Cash
Dividends shall not include any cash dividends paid subsequent to the Issue Date
to the extent the aggregate per share dividends paid on the outstanding Common
Stock in any quarter exceed the amount set forth in Item 4 of Schedule A hereto,
as adjusted for any stock split, stock dividend, reverse stock split,
reclassification or similar transaction.

     

     

    
      
        
        

      

      
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    “Original Warrantholder” means
the United States Department of the Treasury.  Any actions specified
to be taken by the Original Warrantholder hereunder may only be taken by such
Person and not by any other Warrantholder.

     

    “Permitted Transactions” has
the meaning set forth in Section 13(B).

     

    “Person” has the meaning given
to it in Section 3(a)(9) of the Exchange Act and as used in Sections 13(d)(3)
and 14(d)(2) of the Exchange Act.

     

    “Per Share Fair Market Value”
has the meaning set forth in Section 13(C).

     

    “Preferred Shares” means the
perpetual preferred stock issued to the Original Warrantholder on the Issue Date
pursuant to the Purchase Agreement.

     

    “Pro Rata Repurchases” means
any purchase of shares of Common Stock by the Company or any Affiliate thereof
pursuant to (A) any tender offer or exchange offer subject to Section 13(e) or
14(e) of the Exchange Act or Regulation 14E promulgated thereunder or (B) any
other offer available to substantially all holders of Common Stock, in the case
of both (A) or (B), whether for cash, shares of Capital Stock of the Company,
other securities of the Company, evidences of indebtedness of the Company or any
other Person or any other property (including, without limitation, shares of
Capital Stock, other securities or evidences of indebtedness of a subsidiary),
or any combination thereof, effected while this Warrant is
outstanding.  The “Effective Date” of a Pro Rata
Repurchase shall mean the date of acceptance of shares for purchase or exchange
by the Company under any tender or exchange offer which is a Pro Rata Repurchase
or the date of purchase with respect to any Pro Rata Repurchase that is not a
tender or exchange offer.

     

    “Purchase Agreement” means the
Securities Purchase Agreement – Standard Terms incorporated into the Letter
Agreement, dated as of the date set forth in Item 5 of Schedule A hereto, as
amended from time to time, between the Company and the United States Department
of the Treasury (the “Letter
Agreement”), including all annexes and schedules thereto.

     

    “Qualified Equity Offering”
has the meaning ascribed to it in the Purchase Agreement.

     

    “Regulatory Approvals” with
respect to the Warrantholder, means, to the extent applicable and required to
permit the Warrantholder to exercise this Warrant for shares of Common Stock and
to own such Common Stock without the Warrantholder being in violation of
applicable law, rule or regulation, the receipt of any necessary approvals and
authorizations of, filings and registrations with, notifications to, or
expiration or termination of any applicable waiting period under, the
Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, and the rules
and regulations thereunder.

     

    “SEC” means the U.S.
Securities and Exchange Commission.

     

    “Securities Act” means the
Securities Act of 1933, as amended, or any successor statute, and the rules and
regulations promulgated thereunder.

     

     

    
      
        
        

      

      
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    “Shares” has the meaning set
forth in Section 2.

     

    “trading day” means (A) if the
shares of Common Stock are not traded on any national or regional securities
exchange or association or over-the-counter market, a business day or (B) if the
shares of Common Stock are traded on any national or regional securities
exchange or association or over-the-counter market, a business day on which such
relevant exchange or quotation system is scheduled to be open for business and
on which the shares of Common Stock (i) are not suspended from trading on any
national or regional securities exchange or association or over-the-counter
market for any period or periods aggregating one half hour or longer; and (ii)
have traded at least once on the national or regional securities exchange or
association or over-the-counter market that is the primary market for the
trading of the shares of Common Stock.

     

    “U.S. GAAP” means United
States generally accepted accounting principles.

     

    “Warrantholder” has the
meaning set forth in Section 2.

     

    “Warrant” means this Warrant,
issued pursuant to the Purchase Agreement.

     

    2. Number of Shares; Exercise
Price.  This certifies that, for value received, the United
States Department of the Treasury or its permitted assigns (the “Warrantholder”) is entitled,
upon the terms and subject to the conditions hereinafter set forth, to acquire
from the Company, in whole or in part, after the receipt of all applicable
Regulatory Approvals, if any, up to an aggregate of the number of fully paid and
nonassessable shares of Common Stock set forth in Item 6 of Schedule A hereto,
at a purchase price per share of Common Stock equal to the Exercise
Price.  The number of shares of Common Stock (the “Shares”) and the Exercise
Price are subject to adjustment as provided herein, and all references to
“Common Stock,” “Shares” and “Exercise Price” herein shall be deemed to include
any such adjustment or series of adjustments.

     

    3. Exercise of Warrant;
Term.  Subject to Section 2, to the extent permitted by
applicable laws and regulations, the right to purchase the Shares represented by
this Warrant is exercisable, in whole or in part by the Warrantholder, at any
time or from time to time after the execution and delivery of this Warrant by
the Company on the date hereof, but in no event later than 5:00 p.m., New York
City time on the tenth anniversary of the Issue Date (the “Expiration Time”), by (A) the
surrender of this Warrant and Notice of Exercise annexed hereto, duly completed
and executed on behalf of the Warrantholder, at the principal executive office
of the Company located at the address set forth in Item 7 of Schedule A hereto
(or such other office or agency of the Company in the United States as it may
designate by notice in writing to the Warrantholder at the address of the
Warrantholder appearing on the books of the Company), and (B) payment of the
Exercise Price for the Shares thereby purchased:

     

    (i) by having
the Company withhold, from the shares of Common Stock that would otherwise be
delivered to the Warrantholder upon such exercise, shares of Common stock
issuable upon exercise of the Warrant equal in value to the aggregate Exercise
Price as to which this Warrant is so exercised based on the Market Price of the
Common Stock on the trading day on which this Warrant is exercised and the
Notice of Exercise is delivered to the Company pursuant to this Section 3,
or

     

     

    
      
        
        

      

      
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    (ii) with the
consent of both the Company and the Warrantholder, by tendering in cash, by
certified or cashier’s check payable to the order of the Company, or by wire
transfer of immediately available funds to an account designated by the
Company.

     

    If the
Warrantholder does not exercise this Warrant in its entirety, the Warrantholder
will be entitled to receive from the Company within a reasonable time, and in
any event not exceeding three business days, a new warrant in substantially
identical form for the purchase of that number of Shares equal to the difference
between the number of Shares subject to this Warrant and the number of Shares as
to which this Warrant is so exercised.  Notwithstanding anything in
this Warrant to the contrary, the Warrantholder hereby acknowledges and agrees
that its exercise of this Warrant for Shares is subject to the condition that
the Warrantholder will have first received any applicable Regulatory
Approvals.

     

    4. Issuance of Shares;
Authorization; Listing.  Certificates for Shares issued upon
exercise of this Warrant will be issued in such name or names as the
Warrantholder may designate and will be delivered to such named Person or
Persons within a reasonable time, not to exceed three business days after the
date on which this Warrant has been duly exercised in accordance with the terms
of this Warrant.  The Company hereby represents and warrants that any
Shares issued upon the exercise of this Warrant in accordance with the
provisions of Section 3 will be duly and validly authorized and issued, fully
paid and nonassessable and free from all taxes, liens and charges (other than
liens or charges created by the Warrantholder, income and franchise taxes
incurred in connection with the exercise of the Warrant or taxes in respect of
any transfer occurring contemporaneously therewith).  The Company
agrees that the Shares so issued will be deemed to have been issued to the
Warrantholder as of the close of business on the date on which this Warrant and
payment of the Exercise Price are delivered to the Company in accordance with
the terms of this Warrant, notwithstanding that the stock transfer books of the
Company may then be closed or certificates representing such Shares may not be
actually delivered on such date.  The Company will at all times
reserve and keep available, out of its authorized but unissued Common Stock,
solely for the purpose of providing for the exercise of this Warrant, the
aggregate number of shares of Common Stock then issuable upon exercise of this
Warrant at any time.  The Company will (A) procure, at its sole
expense, the listing of the Shares issuable upon exercise of this Warrant at any
time, subject to issuance or notice of issuance, on all principal stock
exchanges on which the Common Stock is then listed or traded and (B) maintain
such listings of such Shares at all times after issuance.  The Company
will use reasonable best efforts to ensure that the Shares may be issued without
violation of any applicable law or regulation or of any requirement of any
securities exchange on which the Shares are listed or traded.

     

    5. No Fractional Shares or
Scrip.  No fractional Shares or scrip representing fractional
Shares shall be issued upon any exercise of this Warrant.  In lieu of
any fractional Share to which the Warrantholder would otherwise be entitled, the
Warrantholder shall be entitled to receive a cash payment equal to the Market
Price of the Common Stock on the last trading day preceding the date of exercise
less the pro-rated Exercise Price for such fractional share.

     

     

    
      
        
        

      

      
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    6. No Rights as Stockholders;
Transfer Books.  This Warrant does not entitle the
Warrantholder to any voting rights or other rights as a stockholder of the
Company prior to the date of exercise hereof.  The Company will at no
time close its transfer books against transfer of this Warrant in any manner
which interferes with the timely exercise of this Warrant.

     

    7. Charges, Taxes and
Expenses.  Issuance of certificates for Shares to the
Warrantholder upon the exercise of this Warrant shall be made without charge to
the Warrantholder for any issue or transfer tax or other incidental expense in
respect of the issuance of such certificates, all of which taxes and expenses
shall be paid by the Company.

     

    8. Transfer/Assignment.

     

    (A) Subject
to compliance with clause (B) of this Section 8, this Warrant and all rights
hereunder are transferable, in whole or in part, upon the books of the Company
by the registered holder hereof in person or by duly authorized attorney, and a
new warrant shall be made and delivered by the Company, of the same tenor and
date as this Warrant but registered in the name of one or more transferees, upon
surrender of this Warrant, duly endorsed, to the office or agency of the Company
described in Section 3. All expenses (other than stock transfer taxes) and other
charges payable in connection with the preparation, execution and delivery of
the new warrants pursuant to this Section 8 shall be paid by the
Company.

     

    (B) The
transfer of the Warrant and the Shares issued upon exercise of the Warrant are
subject to the restrictions set forth in Section 4.4 of the Purchase
Agreement.  If and for so long as required by the Purchase Agreement,
this Warrant shall contain the legends as set forth in Sections 4.2(a) and
4.2(b) of the Purchase Agreement.

     

    9. Exchange and Registry of
Warrant.  This Warrant is exchangeable, upon the surrender
hereof by the Warrantholder to the Company, for a new warrant or warrants of
like tenor and representing the right to purchase the same aggregate number of
Shares.  The Company shall maintain a registry showing the name and
address of the Warrantholder as the registered holder of this
Warrant.  This Warrant may be surrendered for exchange or exercise in
accordance with its terms, at the office of the Company, and the Company shall
be entitled to rely in all respects, prior to written notice to the contrary,
upon such registry.

     

    10. Loss, Theft, Destruction or
Mutilation of Warrant.  Upon receipt by the Company of evidence
reasonably satisfactory to it of the loss, theft, destruction or mutilation of
this Warrant, and in the case of any such loss, theft or destruction, upon
receipt of a bond, indemnity or security reasonably satisfactory to the Company,
or, in the case of any such mutilation, upon surrender and cancellation of this
Warrant, the Company shall make and deliver, in lieu of such lost, stolen,
destroyed or mutilated Warrant, a new Warrant of like tenor and representing the
right to purchase the same aggregate number of Shares as provided for in such
lost, stolen, destroyed or mutilated Warrant.

     

    11. Saturdays, Sundays,
Holidays, etc.  If the last or appointed day for the taking of
any action or the expiration of any right required or granted herein shall not
be a business day, then such action may be taken or such right may be exercised
on the next succeeding day that is a business day.

     

     

    
      
        
        

      

      
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    12. Rule 144
Information.  The Company covenants that it will use its
reasonable best efforts to timely file all reports and other documents required
to be filed by it under the Securities Act and the Exchange Act and the rules
and regulations promulgated by the SEC thereunder (or, if the Company is not
required to file such reports, it will, upon the request of any Warrantholder,
make publicly available such information as necessary to permit sales pursuant
to Rule 144 under the Securities Act), and it will use reasonable best efforts
to take such further action as any Warrantholder may reasonably request, in each
case to the extent required from time to time to enable such holder to, if
permitted by the terms of this Warrant and the Purchase Agreement, sell this
Warrant without registration under the Securities Act within the limitation of
the exemptions provided by (A) Rule 144 under the Securities Act, as such rule
may be amended from time to time, or (B) any successor rule or regulation
hereafter adopted by the SEC.  Upon the written request of any
Warrantholder, the Company will deliver to such Warrantholder a written
statement that it has complied with such requirements.

     

    13. Adjustments and Other
Rights.  The Exercise Price and the number of Shares issuable
upon exercise of this Warrant shall be subject to adjustment from time to time
as follows; provided,
that if more than one subsection of this Section 13 is applicable to a single
event, the subsection shall be applied that produces the largest adjustment and
no single event shall cause an adjustment under more than one subsection of this
Section 13 so as to result in duplication:

     

    (A) Stock Splits, Subdivisions,
Reclassifications or Combinations.  If the Company shall (i)
declare and pay a dividend or make a distribution on its Common Stock in shares
of Common Stock, (ii) subdivide or reclassify the outstanding shares of Common
Stock into a greater number of shares, or (iii) combine or reclassify the
outstanding shares of Common Stock into a smaller number of shares, the number
of Shares issuable upon exercise of this Warrant at the time of the record date
for such dividend or distribution or the effective date of such subdivision,
combination or reclassification shall be proportionately adjusted so that the
Warrantholder after such date shall be entitled to purchase the number of shares
of Common Stock which such holder would have owned or been entitled to receive
in respect of the shares of Common Stock subject to this Warrant after such date
had this Warrant been exercised immediately prior to such date.  In
such event, the Exercise Price in effect at the time of the record date for such
dividend or distribution or the effective date of such subdivision, combination
or reclassification shall be adjusted to the number obtained by dividing (x) the
product of (1) the number of Shares issuable upon the exercise of this Warrant
before such adjustment and (2) the Exercise Price in effect immediately prior to
the record or effective date, as the case may be, for the dividend,
distribution, subdivision, combination or reclassification giving rise to this
adjustment by (y) the new number of Shares issuable upon exercise of the Warrant
determined pursuant to the immediately preceding sentence.

     

    (B) Certain Issuances of Common
Shares or Convertible Securities.  Until the earlier of (i) the
date on which the Original Warrantholder no longer holds this Warrant or any
portion thereof and (ii) the third anniversary of the Issue Date, if the Company
shall issue shares of Common Stock (or rights or warrants or other securities
exercisable or convertible into or exchangeable (collectively, a “conversion”) for shares of
Common Stock) (collectively, “convertible securities”)
(other than in Permitted Transactions (as defined below) or a transaction to
which subsection (A) of this Section 13 is applicable) without consideration or
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    consideration
per share (or having a conversion price per share) that is less than 90% of the
Market Price on the last trading day preceding the date of the agreement on
pricing such shares (or such convertible securities) then, in such
event:

     

    (A) the
number of Shares issuable upon the exercise of this Warrant immediately prior to
the date of the agreement on pricing of such shares (or of such convertible
securities) (the “Initial
Number”) shall be increased to the number obtained by multiplying the
Initial Number by a fraction (A) the numerator of which shall be the sum of (x)
the number of shares of Common Stock of the Company outstanding on such date and
(y) the number of additional shares of Common Stock issued (or into which
convertible securities may be exercised or convert) and (B) the denominator of
which shall be the sum of (I) the number of shares of Common Stock outstanding
on such date and (II) the number of shares of Common Stock which the aggregate
consideration receivable by the Company for the total number of shares of Common
Stock so issued (or into which convertible securities may be exercised or
convert) would purchase at the Market Price on the last trading day preceding
the date of the agreement on pricing such shares (or such convertible
securities); and

     

    (B) the
Exercise Price payable upon exercise of the Warrant shall be adjusted by
multiplying such Exercise Price in effect immediately prior to the date of the
agreement on pricing of such shares (or of such convertible securities) by a
fraction, the numerator of which shall be the number of shares of Common Stock
issuable upon exercise of this Warrant prior to such date and the denominator of
which shall be the number of shares of Common Stock issuable upon exercise of
this Warrant immediately after the adjustment described in clause (A)
above.

     

    For
purposes of the foregoing, the aggregate consideration receivable by the Company
in connection with the issuance of such shares of Common Stock or convertible
securities shall be deemed to be equal to the sum of the net offering price
(including the Fair Market Value of any non-cash consideration and after
deduction of any related expenses payable to third parties) of all such
securities plus the minimum aggregate amount, if any, payable upon exercise or
conversion of any such convertible securities into shares of Common Stock; and
“Permitted
Transactions” shall mean issuances (i) as consideration for or to fund
the acquisition of businesses and/or related assets, (ii) in connection with
employee benefit plans and compensation related arrangements in the ordinary
course and consistent with past practice approved by the Board of Directors,
(iii) in connection with a public or broadly marketed offering and sale of
Common Stock or convertible securities for cash conducted by the Company or its
affiliates pursuant to registration under the Securities Act or Rule 144A
thereunder on a basis consistent with capital raising transactions by comparable
financial institutions and (iv) in connection with the exercise of preemptive
rights on terms existing as of the Issue Date.  Any adjustment made
pursuant to this Section 13(B) shall become effective immediately upon the date
of such issuance.

     

    (C) Other
Distributions.  In case the Company shall fix a record date for
the making of a distribution to all holders of shares of its Common Stock of
securities, evidences of indebtedness, assets, cash, rights or warrants
(excluding Ordinary Cash Dividends, dividends of its Common Stock and other
dividends or distributions referred to in Section 13(A)), in each 

     

     

    
      
        
        

      

      
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    such
case, the Exercise Price in effect prior to such record date shall be reduced
immediately thereafter to the price determined by multiplying the Exercise Price
in effect immediately prior to the reduction by the quotient of (x) the Market
Price of the Common Stock on the last trading day preceding the first date on
which the Common Stock trades regular way on the principal national securities
exchange on which the Common Stock is listed or admitted to trading without the
right to receive such distribution, minus the amount of cash and/or the Fair
Market Value of the securities, evidences of indebtedness, assets, rights or
warrants to be so distributed in respect of one share of Common Stock (such
amount and/or Fair Market Value, the “Per Share Fair Market Value”)
divided by (y) such Market Price on such date specified in clause (x); such
adjustment shall be made successively whenever such a record date is
fixed.  In such event, the number of Shares issuable upon the exercise
of this Warrant shall be increased to the number obtained by dividing (x) the
product of (1) the number of Shares issuable upon the exercise of this Warrant
before such adjustment, and (2) the Exercise Price in effect immediately prior
to the distribution giving rise to this adjustment by (y) the new Exercise Price
determined in accordance with the immediately preceding sentence.  In
the case of adjustment for a cash dividend that is, or is coincident with, a
regular quarterly cash dividend, the Per Share Fair Market Value would be
reduced by the per share amount of the portion of the cash dividend that would
constitute an Ordinary Cash Dividend.  In the event that such
distribution is not so made, the Exercise Price and the number of Shares
issuable upon exercise of this Warrant then in effect shall be readjusted,
effective as of the date when the Board of Directors determines not to
distribute such shares, evidences of indebtedness, assets, rights, cash or
warrants, as the case may be, to the Exercise Price that would then be in effect
and the number of Shares that would then be issuable upon exercise of this
Warrant if such record date had not been fixed.

     

    (D) Certain Repurchases of
Common Stock.  In case the Company effects a Pro Rata
Repurchase of Common Stock, then the Exercise Price shall be reduced to the
price determined by multiplying the Exercise Price in effect immediately prior
to the Effective Date of such Pro Rata Repurchase by a fraction of which the
numerator shall be (i) the product of (x) the number of shares of Common Stock
outstanding immediately before such Pro Rata Repurchase and (y) the Market Price
of a share of Common Stock on the trading day immediately preceding the first
public announcement by the Company or any of its Affiliates of the intent to
effect such Pro Rata Repurchase, minus (ii) the aggregate purchase price of the
Pro Rata Repurchase, and of which the denominator shall be the product of (i)
the number of shares of Common Stock outstanding immediately prior to such Pro
Rata Repurchase minus the number of shares of Common Stock so repurchased and
(ii) the Market Price per share of Common Stock on the trading day immediately
preceding the first public announcement by the Company or any of its Affiliates
of the intent to effect such Pro Rata Repurchase.  In such event, the
number of shares of Common Stock issuable upon the exercise of this Warrant
shall be increased to the number obtained by dividing (x) the product of (1) the
number of Shares issuable upon the exercise of this Warrant before such
adjustment, and (2) the Exercise Price in effect immediately prior to the Pro
Rata Repurchase giving rise to this adjustment by (y) the new Exercise Price
determined in accordance with the immediately preceding sentence.  For
the avoidance of doubt, no increase to the Exercise Price or decrease in the
number of Shares issuable upon exercise of this Warrant shall be made pursuant
to this Section 13(D).

     

     

    
      
        
        

      

      
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    (E) Business
Combinations.  In case of any Business Combination or
reclassification of Common Stock (other than a reclassification of Common Stock
referred to in Section 13(A)), the Warrantholder’s right to receive Shares upon
exercise of this Warrant shall be converted into the right to exercise this
Warrant to acquire the number of shares of stock or other securities or property
(including cash) which the Common Stock issuable (at the time of such Business
Combination or reclassification) upon exercise of this Warrant immediately prior
to such Business Combination or reclassification would have been entitled to
receive upon consummation of such Business Combination or reclassification; and
in any such case, if necessary, the provisions set forth herein with respect to
the rights and interests thereafter of the Warrantholder shall be appropriately
adjusted so as to be applicable, as nearly as may reasonably be, to the
Warrantholder’s right to exercise this Warrant in exchange for any shares of
stock or other securities or property pursuant to this paragraph.  In
determining the kind and amount of stock, securities or the property receivable
upon exercise of this Warrant following the consummation of such Business
Combination, if the holders of Common Stock have the right to elect the kind or
amount of consideration receivable upon consummation of such Business
Combination, then the consideration that the Warrantholder shall be entitled to
receive upon exercise shall be deemed to be the types and amounts of
consideration received by the majority of all holders of the shares of common
stock that affirmatively make an election (or of all such holders if none make
an election).

     

    (F) Rounding of Calculations;
Minimum Adjustments.  All calculations under this Section 13
shall be made to the nearest one-tenth (1/10th) of a cent or to the nearest
one-hundredth (1/100th) of a share, as the case may be.  Any provision
of this Section 13 to the contrary notwithstanding, no adjustment in the
Exercise Price or the number of Shares into which this Warrant is exercisable
shall be made if the amount of such adjustment would be less than $0.01 or
one-tenth (1/10th) of a share of Common Stock, but any such amount shall be
carried forward and an adjustment with respect thereto shall be made at the time
of and together with any subsequent adjustment which, together with such amount
and any other amount or amounts so carried forward, shall aggregate $0.01 or
1/10th of a share of Common Stock, or more.

     

    (G) Timing of Issuance of
Additional Common Stock Upon Certain Adjustments.  In any case
in which the provisions of this Section 13 shall require that an adjustment
shall become effective immediately after a record date for an event, the Company
may defer until the occurrence of such event (i) issuing to the Warrantholder of
this Warrant exercised after such record date and before the occurrence of such
event the additional shares of Common Stock issuable upon such exercise by
reason of the adjustment required by such event over and above the shares of
Common Stock issuable upon such exercise before giving effect to such adjustment
and (ii) paying to such Warrantholder any amount of cash in lieu of a fractional
share of Common Stock; provided, however, that the Company
upon request shall deliver to such Warrantholder a due bill or other appropriate
instrument evidencing such Warrantholder’s right to receive such additional
shares, and such cash, upon the occurrence of the event requiring such
adjustment.

     

    (H) Completion of Qualified
Equity Offering.  In the event the Company (or any successor by
Business Combination) completes one or more Qualified Equity Offerings on or
prior to December 31, 2009 that result in the Company (or any such successor )
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    aggregate
gross proceeds of not less than 100% of the aggregate liquidation preference of
the Preferred Shares (and any preferred stock issued by any such successor to
the Original Warrantholder under the CPP), the number of shares of Common Stock
underlying the portion of this Warrant then held by the Original Warrantholder
shall be thereafter reduced by a number of shares of Common Stock equal to the
product of (i) 0.5 and (ii) the number of shares underlying the Warrant on the
Issue Date (adjusted to take into account all other theretofore made adjustments
pursuant to this Section 13).

     

    (I) Other
Events.  For so long as the Original Warrantholder holds this
Warrant or any portion thereof, if any event occurs as to which the provisions
of this Section 13 are not strictly applicable or, if strictly applicable, would
not, in the good faith judgment of the Board of Directors of the Company, fairly
and adequately protect the purchase rights of the Warrants in accordance with
the essential intent and principles of such provisions, then the Board of
Directors shall make such adjustments in the application of such provisions, in
accordance with such essential intent and principles, as shall be reasonably
necessary, in the good faith opinion of the Board of Directors, to protect such
purchase rights as aforesaid.  The Exercise Price or the number of
Shares into which this Warrant is exercisable shall not be adjusted in the event
of a change in the par value of the Common Stock or a change in the jurisdiction
of incorporation of the Company.

     

    (J) Statement Regarding
Adjustments.  Whenever the Exercise Price or the number of
Shares into which this Warrant is exercisable shall be adjusted as provided in
Section 13, the Company shall forthwith file at the principal office of the
Company a statement showing in reasonable detail the facts requiring such
adjustment and the Exercise Price that shall be in effect and the number of
Shares into which this Warrant shall be exercisable after such adjustment, and
the Company shall also cause a copy of such statement to be sent by mail, first
class postage prepaid, to each Warrantholder at the address appearing in the
Company’s records.

     

    (K) Notice of Adjustment
Event.  In the event that the Company shall propose to take any
action of the type described in this Section 13 (but only if the action of the
type described in this Section 13 would result in an adjustment in the Exercise
Price or the number of Shares into which this Warrant is exercisable or a change
in the type of securities or property to be delivered upon exercise of this
Warrant), the Company shall give notice to the Warrantholder, in the manner set
forth in Section 13(J), which notice shall specify the record date, if any, with
respect to any such action and the approximate date on which such action is to
take place.  Such notice shall also set forth the facts with respect
thereto as shall be reasonably necessary to indicate the effect on the Exercise
Price and the number, kind or class of shares or other securities or property
which shall be deliverable upon exercise of this Warrant.  In the case
of any action which would require the fixing of a record date, such notice shall
be given at least 10 days prior to the date so fixed, and in case of all other
action, such notice shall be given at least 15 days prior to the taking of such
proposed action.  Failure to give such notice, or any defect therein,
shall not affect the legality or validity of any such action.

     

    (L) Proceedings Prior to Any
Action Requiring Adjustment.  As a condition precedent to the
taking of any action which would require an adjustment pursuant to this Section
13, the Company shall take any action which may be necessary, including
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    or
stockholder approvals or exemptions, in order that the Company may thereafter
validly and legally issue as fully paid and nonassessable all shares of Common
Stock that the Warrantholder is entitled to receive upon exercise of this
Warrant pursuant to this Section 13.

     

    (M) Adjustment
Rules.  Any adjustments pursuant to this Section 13 shall be
made successively whenever an event referred to herein shall
occur.  If an adjustment in Exercise Price made hereunder would reduce
the Exercise Price to an amount below par value of the Common Stock, then such
adjustment in Exercise Price made hereunder shall reduce the Exercise Price to
the par value of the Common Stock.

     

    14. Exchange.  At
any time following the date on which the shares of Common Stock of the Company
are no longer listed or admitted to trading on a national securities exchange
(other than in connection with any Business Combination), the Original
Warrantholder may cause the Company to exchange all or a portion of this Warrant
for an economic interest (to be determined by the Original Warrantholder after
consultation with the Company) of the Company classified as permanent equity
under U.S. GAAP having a value equal to the Fair Market Value of the portion of
the Warrant so exchanged.  The Original Warrantholder shall calculate
any Fair Market Value required to be calculated pursuant to this Section 14,
which shall not be subject to the Appraisal Procedure.

     

    15. No
Impairment.  The Company will not, by amendment of its Charter
or through any reorganization, transfer of assets, consolidation, merger,
dissolution, issue or sale of securities or any other voluntary action, avoid or
seek to avoid the observance or performance of any of the terms to be observed
or performed hereunder by the Company, but will at all times in good faith
assist in the carrying out of all the provisions of this Warrant and in taking
of all such action as may be necessary or appropriate in order to protect the
rights of the Warrantholder.

     

    16. Governing
Law.  This
Warrant will be governed by and construed in accordance with the federal law of
the United States if and to the extent such law is applicable, and otherwise in
accordance with the laws of the State of New York applicable to contracts made
and to be performed entirely within such State.  Each of the Company
and the Warrantholder agrees (a) to submit to the exclusive jurisdiction and
venue of the United States District Court for the District of Columbia for any
civil action, suit or proceeding arising out of or relating to this Warrant or
the transactions contemplated hereby, and (b) that notice may be served upon the
Company at the address in Section 20 below and upon the Warrantholder at the
address for the Warrantholder set forth in the registry maintained by the
Company pursuant to Section 9 hereof.  To the extent permitted by
applicable law, each of the Company and the Warrantholder hereby unconditionally
waives trial by jury in any civil legal action or proceeding relating to the
Warrant or the transactions contemplated hereby or thereby.

     

    17. Binding
Effect.  This Warrant shall be binding upon any successors or
assigns of the Company.

     

     

    
      
        
        

      

      
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    18. Amendments.  This
Warrant may be amended and the observance of any term of this Warrant may be
waived only with the written consent of the Company and the
Warrantholder.

     

    19. Prohibited
Actions.  The Company agrees that it will not take any action
which would entitle the Warrantholder to an adjustment of the Exercise Price if
the total number of shares of Common Stock issuable after such action upon
exercise of this Warrant, together with all shares of Common Stock then
outstanding and all shares of Common Stock then issuable upon the exercise of
all outstanding options, warrants, conversion and other rights, would exceed the
total number of shares of Common Stock then authorized by its
Charter.

     

    20. Notices.  Any
notice, request, instruction or other document to be given hereunder by any
party to the other will be in writing and will be deemed to have been duly given
(a) on the date of delivery if delivered personally, or by facsimile, upon
confirmation of receipt, or (b) on the second business day following the date of
dispatch if delivered by a recognized next day courier service.  All
notices hereunder shall be delivered as set forth in Item 8 of Schedule A
hereto, or pursuant to such other instructions as may be designated in writing
by the party to receive such notice.

     

    21. Entire
Agreement.  This Warrant, the forms attached hereto and
Schedule A hereto (the terms of which are incorporated by reference herein), and
the Letter Agreement (including all documents incorporated therein), contain the
entire agreement between the parties with respect to the subject matter hereof
and supersede all prior and contemporaneous arrangements or undertakings with
respect thereto.

     

     

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    [Form
of Notice of Exercise]

    Date:
_________

     

     

    TO:           Lincoln National
Corporation

     

     

    RE:           Election
to Purchase Common Stock

     

     

    The
undersigned, pursuant to the provisions set forth in the attached Warrant,
hereby agrees to subscribe for and purchase the number of shares of the Common
Stock set forth below covered by such Warrant.  The undersigned, in
accordance with Section 3 of the Warrant, hereby agrees to pay the aggregate
Exercise Price for such shares of Common Stock in the manner set forth
below.  A new warrant evidencing the remaining shares of Common Stock
covered by such Warrant, but not yet subscribed for and purchased, if any,
should be issued in the name set forth below.

     

     

    Number of
Shares of Common Stock   _________________

     

     

    Method of
Payment of Exercise Price (note if cashless exercise pursuant to Section 3(i) of
the Warrant or cash exercise pursuant to Section 3(ii) of the Warrant, with
consent of the Company and the
Warrantholder)    _________________

     

     

    Aggregate
Exercise Price:   __________________

     

    
      
        
          
            
              
                	
                        Holder:

                      	 
      
	
                        By:

                      	 
      
	
                        Name:

                      	 
      
	
                        Title:

                      	 
      

              

            

          

        

      

    

     

     

     

    
      
        
        

      

      
        15

        
          

        

      

      
        
        

      

    

     

    IN
WITNESS WHEREOF, the Company has caused this Warrant to be duly executed by a
duly authorized officer.

     

     

    Dated:
July 10, 2009

     

    
      
        
          
            
              
                
                  
                    	
                            Lincoln
      National Corporation

                          
	 
	 
	
                            By:

                          	
                            /s/Dennis R. Glass

                          
	 
      	
                            Name:  Dennis
      R. Glass

                          
	 
      	
                            Title:  President
      and Chief Executive Officer

                          
	 	 
	 	 
	
                            Attest:

                          
	 
	 
	
                            By:

                          	
                            /s/Dennis L. Schoff

                          
	 
      	
                            Name: 
      Dennis L. Schoff

                          
	 
      	
                            Title: 
      Senior Vice President and General
Counsel

                          

                  

                

              

            

          

        

      

    

     

    

     

    
      
        
        

      

      
        16

        
          

        

      

      
        
        

      

    

    

     

    SCHEDULE
A

     

     

    Item 1

    Name:  Lincoln
National Corporation

    Corporate
or other organizational form:  Corporation

    Jurisdiction
of organization:  Indiana

     

     

    Item 2

    Exercise
Price:  $10.92

     

     

    Item 3

    Issue
Date:  July 10, 2009

     

     

    Item 4

    Amount of
last dividend declared prior to the Issue Date:  $0.01

     

     

    Item 5

    Date of
Letter Agreement between the Company and the United States Department of the
Treasury:  July 10, 2009

     

     

    Item 6

    Number of
shares of Common Stock:  13,049,451

     

     

    Item 7

    Company’s
address:  150 N. Radnor Chester Road, Radnor,
Pennsylvania  19087

     

     

    Item 8

    Notice
information:

     

    
      	 
      	
              Frederick
      J. Crawford

            	
              Dennis
      L. Schoff

            
	 
      	
              Executive
      Vice President and

            	
              Senior
      Vice President and

            
	 
      	
              Chief
      Financial Officer

            	
              General
      Counsel

            
	 
      	
              Lincoln
      National Corporation

            	
              Lincoln
      National Corporation

            
	 
      	
              150
      N. Radnor Chester Road

            	
              150
      N. Radnor Chester Road

            
	 
      	
              Radnor,
      Pennsylvania  19087

            	
              Radnor,
      Pennsylvania  19087

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00160-of-00352.parquet"}]]