Document:

Exhibit 4.4

CUSTODY AGREEMENT

SHARESAVE
PLANS

THIS
AGREEMENT has been made as of May 1, 2006, between Imperial Tobacco
Group PLC, a public limited company organized under the laws of England and
Wales with its principal place of business at Upton Road, Bristol BS99 7UJ,
England (“Company”) acting as agent for certain of its employees, and the
HSBC Bank USA, National Association, a national banking organization with a
principal place of business at One HSBC Center, Buffalo, New York 14203 (“Custodian”).

RECITALS

WHEREAS, the
Company acting as agent for certain of its employees who have directed the
Company to act as their agent for that purpose the (“Agent”), desires to
establish a custody account (“Account”) for the purpose of holding the savings
contributions of those employees as individual participants in the Imperial
Tobacco Group International Sharesave Plan; and

WHEREAS, the Agent
wishes to appoint the Custodian to hold the savings contributions, and the
Custodian is willing to accept such appointment subject to the terms and
conditions herein set forth;

NOW, THEREFORE,
the Agent and the Custodian agree as follows:

1.  Appointment and Duties of Custodian.  The Agent hereby appoints the Custodian to
hold and pay amounts from assets held from time to time in the Account.  The Custodian accepts such appointment and
agrees that it will have custody and be responsible for the safekeeping of
assets comprising the Account.  The
Custodian may register any assets of the Account in the name of its nominee and
may use the depository facilities of the Federal Reserve Bank, or the
Depository Trust Company, or may make any other reasonable depository
arrangement.

2.  Assets of Account.  The assets shall consist initially of such
cash as the Agent delivers to the Custodian and shall be subject subsequently
to such additions and/or withdrawals as the Agent shall from time to time
direct.

3.  General Investment Operations.  The Custodian will invest the assets of the
Account in the HSBC Investor U.S. Treasury Money Market Fund managed by HSBC
Asset Management Americas, Inc.

4.  Collection of Income.  The Custodian will collect income paid with
respect to assets of the Account and will add it to the assets at month end.

5.  Payments of Benefits and Expenses.  The Custodian shall make payments and pay
expenses and other amounts only when it receives (and in accordance with)
written instructions of the Agent indicating the amount of payment and the name
and address of the recipient.  The Custodian
shall not be liable to make such payments unless sufficient funds are available
in the Account.  The Custodian need not
inquire into whether any payment it is so instructed to make is consistent with
applicable law or otherwise proper.  The
Custodian shall not be liable in any way for any payment made by the Custodian
in accordance with such instructions.

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The Custodian may
pay any amount by mailing its check for the amount thereof to the person
designated by the Agent as entitled to receive such payment to such address as
may have last been furnished to the Custodian by the Agent.  If no such address has been so furnished,
amounts may be mailed by the Custodian to such person in care of the Agent.

If a dispute
arises as to the payment of any funds or delivery of any assets by the Custodian,
the Custodian may withhold such payment or delivery until the dispute is
determined by a court of competent jurisdiction, is finally settled in writing
by the parties concerned, or until it is indemnified against loss to its
satisfaction.

6.  Transaction Statements and Recordkeeping.  The Custodian will supply the Agent with
periodic statements showing transactions involving the Account, including
receipts, disbursements, purchases, sales and the market value of the assets.  The Custodian will provide periodic balance
sheets or summaries of income and expenses and will maintain accounts showing
the interests of individuals in the Account.

7.  Assumptions of Custodian.  The Custodian may assume, and shall be fully
protected in assuming, that any communication received by it under this
Agreement is from the party purporting to have sent it and is genuine in all
respects, and does not violate any law or administrative rule or regulation.

8.  Fees and Expenses of Custodian.  The compensation to which the Custodian is
entitled shall be evidenced by the attached fee schedule, dated and signed,
which becomes a part of this Agreement. 
The Custodian shall provide written notification to the Agent of any
change in the fee schedule and the effective date of said change.  The schedule, as amended, shall become
effective unless the Custodian receives the written objection of the Agent
within 30 days of the notification.

9.  Taxes. 
All taxes that may be levied or assessed upon or in respect of the
Account shall be paid from the Account. 
The Custodian shall notify the Agent of any proposed or final
assessments of taxes and may assume that any such taxes are lawfully levied or
assessed unless the Agent advises it in writing to the contrary within fifteen
days after receiving the above notice from the Custodian.  If the Agent contests the validity of any
such taxes, it shall so notify the Custodian and the Custodian shall make no
payments respecting such tax unless instructed to do so by the Agent or
compelled to do so by governmental authority. 
If the Agent contests any such proposed levy or assessment, the
Custodian shall provide such information and cooperation as the Agent
reasonably requests.  The Custodian shall
have no responsibility or liability for any obligations now or hereafter
imposed on the Agent, the Account or the Custodian as custodian of the Account
by the tax law of the United States of America or any state or political
subdivision thereof.  It shall be the
responsibility of the Agent to notify the Custodian of the obligations imposed
on the Agent, the Account or the Custodian as custodian of the Account by the
tax law of jurisdictions other than those mentioned in the above sentence,
including responsibility for withholding and other taxes, assessments or other
governmental charges, certifications and governmental reporting.

10.  Retention of Advisors.  The Custodian may reasonably consult legal
counsel and other professional advisors who may, but need not, be its counsel
or advisor or counsel or advisor to any party having an interest in or
connected with the Account or the Agent, with respect to the meaning and
construction of this Agreement or its power, obligations, and conduct
hereunder.  The Custodian shall be entitled
to reasonable reimbursement for such legal counsel’s and other professional
advisor’s fees.  The Custodian shall not
be liable for the consequences of, and shall be fully protected in acting
pursuant to or relying upon, the advice of such legal counsel or advisors.

11.  Liability and Immunities of Custodian.  The Custodian shall be fully protected in
relying upon any written instruction, direction or approval of the Agent.

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The Custodian
shall be fully protected in acting upon any instrument, certificate, or paper
believed by it to be genuine and to be signed or presented by the proper person
or persons, and may accept the same as conclusive evidence of the truth and
accuracy of the statements therein contained.

All persons
dealing with the Custodian are released from inquiry into the decision or
authority of the Custodian.

Except as
specifically provided elsewhere in this Agreement, neither the Custodian nor
any of its officers, directors, or employees, nor any agent of or counsel for
any of the foregoing, shall be liable to anyone at any time interested in the
Account, for any act or omission in the administration of this Agreement.

The Custodian
shall not be liable to make payments of any kind unless sufficient funds are
available therefor in the Account.  The
Custodian shall be responsible only for such money and other property as are
received by it as Custodian under this Agreement.

12.  Tax Representations.  The Custodian makes no representations to any
party to this Agreement or any other person as to the tax consequences of any
transactions involving the assets in the Account.

13.  Proof of Matters.  Whenever the Custodian shall deem it
desirable for a matter to be proved or established before taking, permitting,
or omitting any act, the matter (unless other evidence in respect thereof is
specifically prescribed in this Agreement) may be deemed to be conclusively
established by a certification signed by the Agent and delivered to the
Custodian, and the Custodian shall be fully protected in relying on such an
instrument.

14.  Resignation or Removal of Custodian.  The Custodian may resign as Custodian under
this Agreement at any time by a written instrument delivered to the Agent
giving notice of such resignation, which shall be effective sixty days after
receipt or at such other time as is agreed by the Agent and the Custodian.  The Custodian may be removed at any time by
the Agent by a written resolution delivered to the Custodian, which shall be
effective thirty days after receipt or at such other time as is agreed between
the Agent and the Custodian.

If the Custodian
resigns or is removed, it shall deliver any assets of the Account in its
possession to a successor custodian or the Agent as soon as is reasonably
practicable after such resignation or removal or at such earlier time as shall
be agreed on by the Agent and the Custodian.

The Custodian may,
however, reserve such sum of money as it deems advisable for payment of its
fees and expenses in connection with its administration of the Account or for
payment of all taxes that have been or the Custodian reasonably believes will
be assessed on or in respect of the Account or the income thereof for the
period before its removal or resignation. 
The Custodian shall pay over to the successor custodian or the Agent any
balance of such reserve remaining after the payment of such fees, expenses and
taxes. The delivery of assets of the Account to the successor custodian or the
Agent shall not be deemed a waiver by the Custodian of any lien or claim it may
have on the Account for its fees or expenses.

15.  Communications.  Communications to the Custodian shall be sent
to its Trust Division at HSBC Bank USA, National Association, One HSBC Center,
Buffalo, New York 14203.

16.  Indemnification.  In the event a claim is asserted by any
person or persons against the Custodian where the Custodian has acted in good
faith in reliance on directions or communications of the Agent or in the event
the Custodian is involved in litigation in connection with any matter arising
under this Agreement, it shall be indemnified by the Agent against any
liability imposed against it as a result thereof or incurred by reason of its
holding of the assets, including legal fees incurred unless such litigation or
claim asserted against the Custodian results in a determination that there has
been a breach by the Custodian of its legal obligations

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gross and or
willful negligence and or misconduct. 
The Custodian acting in good faith shall not be liable for any action,
omission, information or recommendation in connection with this Agreement,
except in the case of the Custodian’s actual misconduct or willful violation of
any applicable statue.

17.  Applicable Law.  This Agreement shall be construed in
accordance with the laws of the State of New York.

18.  Amendment.  This Agreement may be amended at any time and
from time to time by a written instrument signed by the Custodian and the
Agent.  The instrument of amendment shall
specify its effective date and amendments may be made effective retroactively.

19.  Severability.  Should any provision of this Agreement be
deemed or held invalid or unlawful for any reason, such fact shall not
adversely affect the other provisions of this Agreement unless such invalidity
shall render impossible or impractical the functioning of the Agreement.

20.  Counterparts.  This agreement may be executed in one or more
counterparts and by the parties hereto in separate counterparts, each of which
when so executed shall be deemed to be an original and all of which when taken
together shall constitute one and the same agreement.

     IN WITNESS WHEREOF, the parties hereto
have caused this Agreement to be executed as of the date and year first above
written.

	
  

  	
  AS AGENT FOR CERTAIN OF ITS EMPLOYEES

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ ROBERT DYRBUS

  	
   

  
	
   

  	
   

  	
   

  	
    Robert Dyrbus, Director

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  CUSTODIAN

  
	
   

  	
   

  	
  HSBC Bank USA, National Association

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ JAMES T
  BUCCELLA

  	
   

  
	
   

  	
   

  	
   

  	
    James T. Buccella, First Vice President

  	
   

  
	
   

  	
   

  	
   

  
						

 

 4Exhibit 10.1

UNITED STATES DISTRICT COURT

DISTRICT OF CONNECTICUT

	
  IN RE: PRICELINE.COM, INC.
  SECURITIES LITIGATION

  	
   

  	
   

  	
   

  	
   

  
	
  This document
  relates to:

  	
   

  	
   

  	
   

  	
  MASTER FILE NO. 

  3:00CV01884(AVC)

  
	
  ALL ACTIONS

  	
   

  	
   

  	
   

  	
   

  

 

STIPULATION AND AGREEMENT OF SETTLEMENT

This Stipulation and Agreement of Settlement
(the “Stipulation”) is submitted pursuant to Rule 23 of the Federal Rules of
Civil Procedure.  Subject to the approval
of the Court, this Stipulation is entered into among class representatives R.
Warren Ross, Thomas Linton, and John Anderson (“Class Plaintiffs”), on behalf
of themselves and the “Class” (as defined below) and Defendants Priceline.com
Incorporated. (“Priceline.com”), Jay Walker (“Walker”), Dan Schulman (“Schulman”),
Richard Braddock (“Braddock”) and N. J. Nicholas (“Nicholas”) (Walker,
Schulman, Braddock and Nicholas are collectively referred to as the “Individual
Defendants”) (Priceline.com and the Individual Defendants are collectively
referred to as the “Settling Defendants”), by and through their respective
counsel.

 

WHEREAS:

A.            Beginning on October 2, 2000, twenty-two (22)
related putative securities class actions — including, Twardy, et al v. Priceline.com, Inc, et al., No.
3:00-cv-01884-AVC; Weingarten v.
Priceline.com, Inc., et al., No. 3:00-cv-01901-DJS; Berdakina v. Priceline.com, Inc, et al., No.
3:00-cv-01902-DJS; Howard Gunty Plan v.
Priceline.com, Inc, et al., No. 3:00-cv-01917-DJS; Cerelli v. Priceline.com Inc, et al., No.
3:00-cv-01918-DJS; Mayer v.
Priceline.com, Inc, et al., No. 3:00-cv-01923-DJS; Mazzo v. Priceline.com, Inc, et al., No. 3:00-

cv-01924-DJS; Anish v.
Priceline.com, Inc, et al., No. 3:00-cv-01948-DJS; Fialkov v. Priceline.com,
Inc, et al., No. 3:00-cv-01954-DJS; Zia
v. Priceline. com, Inc, et al., No. 3:00-cv-01968-DJS; Mazzo v. Priceline. com, Inc, et al., No.
3:00-cv-01980-DJS; Atkin v. Priceline.com,
Inc, et al., No. 3:00-cv-01994-DJS; Licht
v. Priceline.com, Inc, et al., No. 3:00-cv-02049-DJS; Ayach, et al v. Priceline.com, Inc, et al.,
No. 3:00-cv-02062-DJS; Lyon v.
Priceline.com, Inc, et al., No. 3:00-cv-02066-DJS; Kwan v. Priceline.com, Inc, et al., No.
3:00-cv-02069-DJS; Krim v. Priceline.com,
Inc, et al., No. 3:00-cv-02083-DJS; Bazag
v. Priceline. com, Inc, et al., No. 3:00-cv-02122-DJS; Breier v. Priceline.com, Inc, et al., No.
3:00-cv-02146-DJS; Caswell v. Priceline.com,
Inc, et al., No. 3:00-cv-02169-DJS; Farzam,
et al v. Priceline. com, Inc, et al., No. 3:00-cv-02176-DJS; Karas v. Priceline.com Inc, et al., No.
3:00-cv-02232-DJS — were filed in this Court and were subsequently consolidated
under the above caption, and are hereinafter referred to as the “Action.” The
Court appointed lead plaintiffs and appointed Scott + Scott, LLP, Johnson &
Perkinson and Stull, Stull & Brody as Plaintiffs’ lead counsel;

B.            The Consolidated Amended Complaint dated October 29,
2001  (the
“Complaint”) filed in the Action generally alleges that Settling Defendants and
Deloitte & Touche LLP (“Deloitte”), inter
alia, issued false and misleading press releases and other
statements regarding Priceline.com’s financial condition and business prospects
during the “Class Period” — January 27, 2000, through and including October 4, 2000  — in a scheme to artificially inflate
the value of Priceline.com’s securities;

C.            The Complaint further alleges that Class Members (as
defined below) purchased the securities of Priceline.com during the Class
Period at prices artificially inflated as a result of, inter alia, the Settling Defendants’ and
Deloitte’s dissemination of allegedly materially false and misleading
statements regarding Priceline.com in violation of Sections 10(b) and
20(a) of the Securities Exchange Act of 1934, and Rule 10b-5 promulgated
thereunder;

D.            The Settling Defendants and Deloitte moved to dismiss the
claims raised in the Complaint.  The
Court, by Memorandum of Decision dated October 7, 2004, denied in part and
granted in part the Settling Defendants’ motion to dismiss and granted Deloitte’s
motion to dismiss without prejudice.

E.             The case was certified as a class action on April 4, 2006 and the Court appointed Thomas
Linton, Mark B. Weiss, Marilyn Egel, R. Warren Ross and John Anderson as the
Class Plaintiffs and appointed Scott + Scott, LLP and Johnson & Perkinson
as Class Plaintiffs’ 

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Counsel.  The
Court denied the appointment of the Leisinger Pension Fund as a class
representative.

F.             The Settling Defendants deny any wrongdoing whatsoever
and this Stipulation shall in no event be construed or deemed to be evidence of
or an admission or concession on the part of any Settling Defendant with
respect to any claim or of any fault or liability or wrongdoing or damage
whatsoever, or any infirmity in the defenses that the Settling Defendants have
asserted.  The parties to this
Stipulation recognize that the litigation is being voluntarily settled after
advice of counsel, and that the terms of the settlement are fair, adequate and
reasonable.  This Stipulation shall not
be construed or deemed to be a concession by any Plaintiff or Class Member of any
infirmity in the claims asserted in the Action;

G.            Class Plaintiffs’ Counsel (as defined below) represent
that they have conducted an extensive investigation relating to the claims and
the underlying events and transactions alleged in the Complaint and that Class
Plaintiffs’ Counsel have analyzed the evidence produced by Priceline.com as
well as non parties and have researched the applicable law with respect to the
claims of Plaintiffs and the Class against the Settling Defendants and the
potential defenses thereto;

H.            Over the past three and one half years, with the
assistance of retired United States District Judge Nicholas H. Politan and
Robert A. Meyer, Esq., acting as special mediators, Plaintiffs, by their
counsel, have conducted numerous discussions and arm’s length negotiations with
counsel for Settling Defendants over the course of four extensive mediation
sessions with respect to a compromise and settlement of the Action as against
the Settling Defendants with a view to settling the issues in dispute and
achieving the best relief possible consistent with the interests of the Class;
and

I.              Based upon their investigation and review as set forth
above, Plaintiffs and Class Plaintiffs’ Counsel have concluded that the terms
and conditions of this Stipulation are fair, reasonable and adequate to the
Class Members, and in their best interests, and have agreed to settle the
claims raised in the Action pursuant to the terms and provisions of this
Stipulation, after considering (a) the substantial benefits that
Plaintiffs and the members of the Class will receive from settlement of the
Action, (b) the attendant risks of litigation, and (c) the desirability of
permitting the Settlement (as defined below) to be consummated as provided by
the terms of this Stipulation.

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NOW THEREFORE, without any admission or
concession on the part of Plaintiffs of any lack of merit of the Action
whatsoever, and without any admission or concession of any liability or
wrongdoing or lack of merit in the defenses whatsoever by the Settling
Defendants, it is hereby STIPULATED AND AGREED, by and among the parties to
this Stipulation, through their respective attorneys, subject to approval of
the Court pursuant to Rule 23(e) of the Federal Rules of Civil Procedure,
in consideration of the benefits flowing to the parties hereto from the
Settlement, that all Settled Claims (as defined below) as against the Released
Parties (as defined below) and all Settled Defendants’ Claims (as defined
below) shall be compromised, settled, released and dismissed with prejudice,
upon and subject to the following terms and conditions:

CERTAIN
DEFINITIONS

1.             As used in this
Stipulation, the following terms shall have the following meanings:

(a)           “Authorized Claimant”
means a Class Member who submits a timely and valid Proof of Claim form to the
Claims Administrator.

(b)           “Claims
Administrator” means the person or entity appointed by the Court to administer
the Settlement hereunder in the Court’s order preliminarily approving the
Settlement and implementing the Notice.

(c)           “Class” and “Class
Members” mean, for the purposes of this Settlement only, all persons and
entities who purchased or otherwise acquired securities of Priceline.com during
the Class Period and were damaged thereby. Excluded from the Class are (i) the
Settling Defendants, (ii) the officers and directors of Priceline.com at all
relevant times, (iii) members of Settling Defendants’ immediate families and
their legal representatives, heirs, successors or assigns, (iv) any entity in
which Settling Defendants have or at any time had a Controlling Interest (as
defined below), and (v) Deloitte, or any of Deloitte’s partners, officers and
directors.  Also excluded from the Class
are any putative Class Members who exclude themselves by filing a request for
exclusion in accordance with the requirements set forth in the Notice.

(d)           “Class Period”
means, for the purposes of this Settlement only, the period of time between
January 27, 2000 and October 4, 2000, inclusive.

(e)           “Class Plaintiffs’
Counsel” means the law firms of Scott + Scott LLP and Johnson & Perkinson.

(f)            “Controlling
Interest” shall include any interest of ten percent (10%) or 

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more of the
common stock and/or voting rights of any entity, and any other interest in an
entity that is sufficient to allow the party with such interest directly or
indirectly to direct or cause the direction of the management and policies of
the entity, whether through the ownership of voting shares, by contract, or
otherwise.

(g)           “Effective Date of
Settlement” or “Effective Date” means the date upon which the Settlement
contemplated by this Stipulation shall become effective, as set forth in ¶29
below.

(h)           “Final Order” means
an order as to which there is no pending appeal, stay, motion for
reconsideration or motion to vacate or similar request for relief, and as to
which the period of time for a party to appeal has expired.  For purposes hereof if no appeal or motion
for reconsideration, to vacate, or for similar relief is filed within thirty
(30) days after entry of the order in the District Court, the order shall be
deemed to be a Final Order.

(i)            “Notice” means the
Notice of Pendency of Class Action and Proposed Settlement with Settling
Defendants, Motion for Attorneys’ Fees and Settlement Fairness Hearing, which
is to be sent to members of the Class substantially in the form attached hereto
as Exhibit 1 to Exhibit A.

(j)            “Order and Final
Judgment” means the proposed order to be entered approving the Settlement
substantially in the form attached hereto as Exhibit B.

(k)           “Order for Notice
and Hearing” means the proposed order preliminarily approving the Settlement
and directing notice thereof to the Class substantially in the form attached
hereto as Exhibit A.

(l)            “Plaintiffs’
Counsel” means Class Plaintiffs’ Counsel and all other counsel representing
Plaintiffs in the Action.

(m)          “Proof of Claim”
means the Proof of Claim and Release, which is to be sent to members of the
Class substantially in the form attached hereto as Exhibit 2 to Exhibit A.

(n)           “Publication Notice”
means the summary notice of proposed Settlement and hearing for publication
substantially in the form attached as Exhibit 3 to Exhibit A.

(o)           “Released Parties”
means any and all of the Settling Defendants, their past or present
subsidiaries, parents, successors and predecessors, general partners, estates
and assigns and all of the aforementioned persons’ and entities’ current or
former officers, directors, agents, legal representatives, trustees, employees,
attorneys, advisors, insurers, and investment 

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advisors,
auditors, accountants, underwriters and insurers of the foregoing, and any
person, firm, trust, corporation, officer, director or other individual or
entity in which any Settling Defendant has or at any time had a Controlling
Interest or which is or at any time was related to or affiliated with any of
the Settling Defendants (including, but not limited to, the Priceline WebHouse
Club, Inc., Perfect Yardsale, Walker Digital LLC and Walker Digital Corp., and
the accountants and auditors of any of them, in their capacities as such), and
the estates, legal representatives, heirs, successors in interest or assigns of
the Settling Defendants.  Notwithstanding
the prior sentence, “Released Parties” does not include Deloitte in its
capacity as the independent auditor of Priceline.com, or with respect to any
liability Deloitte may have under the federal securities laws arising as a
result of services performed, knowledge obtained or statements or omissions
made in connection with (a) Deloitte’s engagement by Priceline.com as described
in the engagement letters between Deloitte and Priceline.com dated May 3, 1999
and August 4, 2000, and/or (b) Deloitte’s audit opinion dated January 27, 2000
(and March 17, 2000 as to note 15).

(p)           “Settled Claims”
means any and all claims, debts, demands, rights or causes of action or
liabilities whatsoever (including, but not limited to, any claims for damages,
interest, attorneys’ fees, expert or consulting fees, and any other costs,
expenses or liability whatsoever), whether based on federal, state, local,
statutory or common law, or any other law, rule or regulation, whether foreign
or domestic, fixed or contingent, accrued or unaccrued, liquidated or
unliquidated, at law or in equity, matured or unmatured, foreseen or unforeseen,
whether class or individual in nature, including both known claims and Unknown
Claims (as defined below), (i) that have been asserted in this Action by the
Class Members or any of them against any of the Released Parties (whether
pleaded in the Complaint or not), or (ii) that could have been asserted from
the beginning of time to the end of time in any forum by the Class Members or
any of them against any of the Released Parties, which arise out of, relate in
any way to, or are based upon the allegations, transactions, facts, matters or
occurrences, representations or omissions involved in, set forth in, or
referred to, or that could have been asserted in the Complaint and relate to
the purchase, sale, transfer or acquisition of securities of Priceline.com
during the Class Period, or any actions, representations or omissions that were
alleged or might have been alleged to affect the price of publicly traded
securities of Priceline.com during the Class Period.  Notwithstanding the prior sentence, “Settled
Claims” does not include any claims Class Members may have against Deloitte in
its capacity as the 

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independent
auditor of Priceline.com, or with respect to any liability Deloitte may have
under the federal securities laws arising as a result of services performed,
knowledge obtained or statements or omissions made in connection with (a)
Deloitte’s engagement by Priceline.com as described in the engagement letters
between Deloitte and Priceline.com dated May 3, 1999 and August 4, 2000, and/or
(b) Deloitte’s audit opinion dated January 27, 2000 (and March 17, 2000 as to
note 15).  “Settled Claims” also
does not include any claims that were asserted in the consolidated class action
In re Initial Public Offering Securities Litigation,
21 M.C. 92 (S.A.S.) (S.D.N.Y.) (consolidating cases including In re Priceline.com, Inc. Initial Public Offering Securities Litigation,
01 Civ. 2261 (SAS)(LTS) (S.D.N.Y.)), or in In re Initial Public
Offering Antitrust Litigation, 01-Civ.-2014 (WHP) (S.D.N.Y.).

(q)           “Settled Defendants’
Claims” means any and all claims, rights or causes of action or liabilities
whatsoever, whether based on United States federal, state, local, statutory or
common law, or any other law, rule or regulation, including both known claims
and Unknown Claims, that have been or could have been asserted in the Action or
any forum by any of the Released Parties or any of them or the successors and
assigns of any of them against any of the Plaintiffs, Class Members or their
attorneys, which arise out of or relate in any way to the institution,
prosecution, or settlement of the Action (except for claims to enforce the
Settlement).

(r)            “Settlement” means
the settlement contemplated by this Stipulation.

(s)           “Settling Defendants” means Priceline.com and the Individual
Defendants.

(t)            “Settling
Defendants’ Counsel” means the law firms of Hennigan,
Bennett & Dorman, LLP and Day Pitney LLP (representing Defendant
Walker) and Cravath, Swaine & Moore LLP and Robinson & Cole LLP
(representing all other Settling Defendants)

(u)           “Unknown Claims”
means any and all Settled Claims which any Plaintiff or Class Member does not
know or suspect to exist in his, her or its favor at the time of the release of
the Released Parties, and any Settled Defendants’ Claims which any Settling Defendant
does not know or suspect to exist in his or its favor, which if known by him or
it might have affected his or its decision(s) with respect to the
Settlement.  With respect to any and all
Settled Claims and Settled Defendants’ Claims, the parties stipulate and agree
that upon the Effective Date, the Plaintiffs and the Settling Defendants shall
expressly waive, and each Class Member shall be deemed to have waived, and by
operation of the Judgment shall have expressly waived, any and all provisions, rights
and benefits conferred by any law of any state or territory 

 7
 

of the United
States, or principle of common law, which is similar, comparable, or equivalent
to Cal. Civ. Code § 1542, which provides:

A general
release does not extend to claims which the creditor does not know or suspect
to exist in his or her favor at the time of executing the release, which if
known by him or her must have materially affected his settlement with the
debtor.

Plaintiffs and Settling Defendants
acknowledge, and Class Members by operation of law shall be deemed to have
acknowledged, that the inclusion of “Unknown Claims” in the definition of
Settled Claims and Settled Defendants’ Claims was separately bargained for and
was a key element of the Settlement.

SCOPE AND
EFFECT OF SETTLEMENT

2.             The obligations
incurred pursuant to this Stipulation shall be in full and final disposition of
the Action as against the Settling Defendants and any and all Settled Claims as
against all Released Parties and any and all Settled Defendants’ Claims.

3.             (a)           By operation of the Order and Final
Judgment, upon the Effective Date of this Settlement, Plaintiffs and members of
the Class on behalf of themselves and their respective estates, heirs,
executors, administrators, successors and assigns and all persons acting in
concert with, or who purport to act through, such persons, shall have waived,
released, forever discharged and dismissed and agreed not to institute,
maintain or prosecute, and shall forever be enjoined from commencing or
prosecuting, each and every Settled Claim either directly, indirectly, or in a
representative or any other capacity against any or all of the Released
Parties.

(b)           By operation of the
Order and Final Judgment, upon the Effective Date of this Settlement, each of
the Settling Defendants, on behalf of themselves and the Released Parties,
shall release and forever discharge each and every of the Settled Defendants’
Claims, and shall forever be enjoined from prosecuting the Settled Defendants’ Claims.

(c)           Upon the Effective
Date of this Settlement, the Released Parties shall obtain bar order protection
substantially in the form appearing in the Order and Final Judgment annexed
hereto as Exhibit B.

THE SETTLEMENT
CONSIDERATION

4.             Within fifteen (15)
business days of the entry of the order preliminarily approving the Settlement,
Priceline.com shall cause to be paid $80 million (the “Cash Settlement Amount”)
into escrow for the benefit of Plaintiffs and the Class.  The Cash Settlement Amount and any interest
earned thereon shall be the “Gross Settlement Fund”.

 8
 

 

5.             (a)           The Gross Settlement Fund, net of any
Taxes (as defined below) on the income thereof, shall be used to pay (i) the
Notice and administration costs referred to in ¶7 hereof, (ii) the attorneys’
fee and expense award referred to in ¶8 hereof, and (iii) the remaining
administration expenses referred to in ¶9 hereof and any other costs, payments
or awards approved by the Court.  The
balance of the Gross Settlement Fund after the above payments shall be the “Net
Settlement Fund,” which shall be distributed to the Authorized Claimants as
provided in ¶10-12 hereof. Any portions of the Gross Settlement Fund required
to be held in escrow prior to the Effective Date pursuant to ¶4 hereof shall be
held by Sovereign Bank and Boston Private Bank & Trust Company (the “Escrow
Agent”) for the Settlement Fund. 
Priceline.com’s payment pursuant to ¶4 hereof can be made to either
bank.  Within three (3) days of the payment pursuant to ¶4 hereof,
Sovereign Bank and Boston Private Bank & Trust Company will each hold
one-half (1/2) of the Cash Settlement Amount. 
The Gross Settlement Fund held by the Escrow Agent shall be deemed to be
in the custody of the Court and shall remain subject to the jurisdiction of the
Court until such time as the Net Settlement Fund shall be distributed to
Authorized Claimants, or returned to the Settling Defendants pursuant to this
Stipulation and/or further order of the Court. 
The Escrow Agent shall invest any funds in excess of $100,000 in short
term United States Agency or Treasury Securities (or a mutual fund invested
solely in such instruments), and shall collect and reinvest all interest
accrued thereon.  Any funds held in
escrow in an amount of less than $100,000 may be held in an interest bearing
bank account insured by the FDIC.  The
parties hereto agree that the Settlement Fund is intended to be a Qualified
Settlement Fund within the meaning of Treasury Regulation § 1.46813-1 and that
the Escrow Agent, as administrator of the Settlement Fund within the meaning of
Treasury Regulation § 1.46813-2(k)(3), shall be responsible for filing tax
returns for the Settlement Fund and paying from the Settlement Fund any Taxes
owed with respect to the Settlement Fund. 
Counsel for Settling Defendants agree to provide promptly to the Escrow
Agent the statement described in Treasury Regulation § 1.46813-3(e).

(b)           All (i) taxes on the
income of the Gross Settlement Fund and (ii) expenses and costs incurred in
connection with the taxation of the Gross Settlement Fund (including, without
limitation, expenses of tax attorneys and accountants) (collectively “Taxes”)
shall be paid out of the Gross Settlement Fund, shall be considered to be a
cost of administration of the Settlement and shall be timely paid by the Escrow
Agent without prior Order of the Court. 
The 

 9
 

Settling
Defendants and Released Parties shall have no liability or responsibility for
the payment of any Taxes.  The Gross
Settlement Fund shall indemnify and hold the Settling Defendants and Released
Parties harmless for any Taxes (including, without limitation, Taxes payable by
reason of any such indemnification).

ADMINISTRATION

6.             The Claims
Administrator shall administer the Settlement subject to the jurisdiction of
the Court.  Except as stated in ¶14
hereof, Settling Defendants shall have no responsibility for the administration
of the Settlement and shall have no liability to the Class in connection with
such administration.  To the extent they
are in the possession of the requested information, Settling Defendants’
Counsel shall cooperate in the administration of the Settlement to the extent
reasonably necessary to effectuate its terms, including providing without
charge all information from Priceline.com’s transfer records, if available,
concerning the identity of Class Members and their transactions.

7.             Class Plaintiffs’
Counsel may pay from the Cash Settlement Amount, without further approval from
the Settling Defendants or the Court, the reasonable costs and expenses up to
the sum of $300,000 associated with identifying members of the Class and
effecting mail Notice and Publication Notice to the Class, and the
administration of the Settlement, including without limitation, the actual
costs of publication, printing and mailing the Notice, reimbursements to nominee
owners for forwarding notice to their beneficial owners, and the administrative
expenses incurred and fees charged by the Claims Administrator in connection
with providing notice and processing the submitted claims.

ATTORNEYS’
FEES AND EXPENSES

8.             Class Plaintiffs’
Counsel will apply to the Court for an award from the Gross Settlement Fund of
attorneys’ fees not to exceed one-third (33 1/3%) of the Gross Settlement Fund
and reimbursement of expenses, plus interest. 
Such attorneys’ fees, expenses, and interest as are awarded by the Court
shall be paid from the Gross Settlement Fund to Class Plaintiffs’ Counsel
immediately upon award, notwithstanding the existence of any timely filed
objections thereto, or potential for appeal therefrom, or collateral attack on
the settlement or any part thereof, subject to Plaintiffs’ Co-Lead Counsel’s obligation to make
appropriate refunds or repayments to the Settlement Fund plus accrued interest
at the same net rate as is earned by the Gross Settlement Fund, if and when, as
a result of any appeal and/or further proceedings on

 10

 

remand, or
successful collateral attack, the fee or cost award is reduced or reversed, or
return of the Gross Settlement Fund is required consistent with the provisions
of ¶25 hereof.  Notwithstanding any other
provision of this Stipulation to the contrary, the procedure for the allowance
(in whole or in part) by the Court of any application by Class Plaintiffs’
Counsel for attorney’s fees, costs, and expenses, to be paid out of the Gross
Settlement Fund are to be considered by the Court separately and apart from its
consideration of the fairness, reasonableness, and adequacy of the Settlement,
and any order or proceeding relating to the award of fees and expenses, or any
appeal of any order relating thereto, shall not operate to terminate or cancel
this Stipulation and Settlement of this Action.

ADMINISTRATION
EXPENSES

9.             Class Plaintiffs’
Counsel will apply to the Court, on notice to Settling Defendants’ Counsel, for
an order (the “Class Distribution Order”) approving the Claims Administrator’s
administrative determinations concerning the acceptance and rejection of the
claims submitted herein and approving any fees and expenses not previously
applied for, including the fees and expenses of the Claims Administrator and/or
Class Plaintiffs’ Counsel, and, if the Effective Date has occurred, directing
payment of the Net Settlement Fund to Authorized Claimants.

DISTRIBUTION
TO AUTHORIZED CLAIMANTS

10.           The Claims
Administrator shall determine each Authorized Claimant’s pro rata share of the “Net Settlement Fund”
based upon each Authorized Claimant’s Recognized Claim as defined in the Plan
of Allocation described in the Notice annexed hereto as Exhibit 1 to Exhibit A,
or in such other Plan of Allocation as the Court approves.

11.           The Plan of
Allocation proposed in the Notice is not a necessary term of this Stipulation
and it is not a condition of this Stipulation that any particular Plan of
Allocation be approved.

12.           Each
Authorized Claimant shall be allocated a pro
rata share of the Net Settlement Fund based on his or her Recognized
Claim compared to the total Recognized Claims of all accepted claimants.  This is not a claims-made settlement.  The Settling Defendants shall not be entitled
to get back any of the settlement monies, or interest earned thereon, once the
Settlement becomes final.  The Settling
Defendants shall have no involvement in reviewing or challenging claims.

 11
 

 

ADMINISTRATION OF THE SETTLEMENT

13.           Any member of the
Class who does not submit a valid Proof of Claim will not be entitled to
receive any of the proceeds from the Net Settlement Amount but will otherwise
be bound by all of the terms of this Stipulation and the Settlement, including
the terms of the Judgment to be entered in the Action and the releases provided
for herein, and will be barred from bringing any action against the Released
Parties concerning the Settled Claims.

14.           The Claims
Administrator shall process the Proofs of Claim and, after entry of the Class
Distribution Order, distribute the Net Settlement Fund to the Authorized Claimants.  Except for their obligation to pay the
Settlement Amount, and to cooperate in the production of information with
respect to the identification of Class Members from Priceline.com’s shareholder
transfer records, as provided herein, Settling Defendants shall have no
liability, obligation or responsibility for the administration of the
Settlement or disbursement of the Net Settlement Fund.  Class Plaintiffs’ Counsel shall have the
right, but not the obligation, to advise the Claims Administrator to waive what
Class Plaintiffs’ Counsel deem to be formal or technical defects in any Proofs
of Claim submitted in the interests of achieving substantial justice.

15.           For purposes of
determining the extent, if any, to which a Class Member shall be entitled to be
treated as an Authorized Claimant, the following conditions shall apply:

(a)           Each Class Member
shall be required to submit a Proof of Claim (see attached Exhibit 2 to Exhibit
A), supported by such documents as are designated therein, including proof of
the transactions claimed and the losses incurred thereon, or such other
documents or proof as the Claims Administrator, in its discretion may deem
acceptable;

(b)           All
Proofs of Claim must be submitted by the date specified in the Notice, unless
such period is extended by Order of the Court. 
Any Class Member who fails to submit a Proof of Claim by such date shall
be forever barred from receiving any payment pursuant to this Stipulation
(unless, by Order of the Court, a later submitted Proof of Claim by such Class
Member is approved), but shall in all other respects be bound by all of the
terms of this Stipulation and the Settlement including the terms of the
Judgment to be entered in the Action and the releases provided for herein, and
will be barred from bringing any action against the Released Parties concerning
the Settled Claims.  Provided that it is
received before the motion for the Class Distribution Order is filed, a Proof
of Claim shall be deemed to have been submitted when posted, if received with a
postmark indicated on the envelope and if mailed by

 12
 

 

first-class
mail and addressed in accordance with the instructions thereon.  In all other cases, the Proof of Claim shall
be deemed to have been submitted when actually received by the Claims
Administrator;

(c)           Each Proof of Claim
shall be submitted to and reviewed by the Claims Administrator, who shall
determine in accordance with this Stipulation and the approved Plan of
Allocation the extent, if any, to which each claim shall be allowed, subject to
review by the Court pursuant to subparagraph (e) below;

(d)           Proofs of Claim that
do not meet the submission requirements may be rejected.  Prior to rejection of a Proof of Claim, the
Claims Administrator shall communicate with the Claimant in order to remedy the
curable deficiencies in the Proofs of Claim submitted.  The Claims Administrator shall notify, in a
timely fashion and in writing, all Claimants whose Proofs of Claim they propose
to reject in whole or in part, setting forth the reasons therefor, and shall
indicate in such notice that the Claimant whose claim is to be rejected has the
right to a review by the Court if the Claimant so desires and complies with the
requirements of subparagraph (e) below;

(e)           If any Claimant
whose claim has been rejected in whole or in part desires to contest such
rejection, the Claimant must, within twenty (20) days after the date of mailing
of the notice required in subparagraph (d) above, serve upon the Claims
Administrator a notice and statement of reasons indicating the Claimant’s
grounds for contesting the rejection along with any supporting documentation,
and requesting a review thereof by the Court. 
If a dispute concerning a claim cannot be otherwise resolved, Class
Plaintiffs’ Counsel shall thereafter present the request for review to the
Court; and

(f)            The administrative
determinations of the Claims Administrator accepting and rejecting claims shall
be presented to the Court, on notice to Settling Defendants’ Counsel, for
approval by the Court in the Class Distribution Order.

16.           Each
Claimant shall be deemed to have submitted to the jurisdiction of the Court
with respect to the Claimant’s claim, and the claim will be subject to
investigation and discovery under the Federal Rules of Civil Procedure,
provided that such investigation and discovery shall be limited to that
Claimant’s status as a Class Member and the validity and amount of the Claimant’s
claim.  With regard to any discovery
pursuant to this paragraph, no discovery shall be allowed to be directed to any
of the Individual Defendants.  No
discovery shall be allowed on the

 13
 

 

merits of the Action or Settlement in connection with processing of the
Proofs of Claim.

17.           Payment pursuant to
this Stipulation shall be deemed final and conclusive against all Class Members.  All Class Members whose claims are not
approved by the Court shall be barred from participating in distributions from
the Net Settlement Fund, but otherwise shall be bound by all of the terms of
this Stipulation and the Settlement, including the terms of the Judgment to be
entered in the Action and the releases provided for herein, and will be barred
from bringing any action against the Released Parties concerning the Settled
Claims.

18.           All proceedings with
respect to the administration, processing and determination of claims described
by ¶15 of this Stipulation and the determination of all controversies relating
thereto, including disputed questions of law and fact with respect to the
validity of claims, shall be subject to the jurisdiction of the Court.

19.           The Net Settlement
Fund shall be distributed to Authorized Claimants by the Claims Administrator
only after the Effective Date and after: (i) all Claims have been
processed, and all Claimants whose Claims have been rejected or disallowed, in
whole or in part, have been notified and provided the opportunity to be heard
concerning such rejection or disallowance; (ii) all objections with
respect to all rejected or disallowed claims have been resolved by the Court,
and all appeals therefrom have been resolved or the time therefor has expired;
(iii) all matters with respect to attorneys’ fees, costs, and
disbursements have been resolved by the Court, all appeals therefrom have been
resolved or the time therefor has expired; and (iv) all fees and costs of
administration have been paid.

TERMS OF ORDER FOR NOTICE AND HEARING

20.           Promptly after this
Stipulation has been fully executed, Class Plaintiffs’ Counsel and Settling
Defendants’ Counsel jointly shall apply to the Court for entry of an Order for
Notice and Hearing, substantially in the form annexed hereto as Exhibit A.  Class Plaintiffs’ Counsel and Settling
Defendants’ Counsel shall jointly request that the postmark deadline for
submitting exclusions from this Settlement be set at least 14 calendar days
prior to the Settlement Fairness Hearing. 
Upon receiving any request(s) for exclusion pursuant to the Notice, the
Claims Administrator shall promptly notify Class Plaintiffs’ Counsel and
Settling Defendants’ Counsel of such request(s) for exclusion.

TERMS OF ORDER AND FINAL JUDGMENT

21.           If
the Settlement contemplated by this Stipulation is approved by the Court,

 14
 

 

counsel for
the parties shall request that the Court enter an Order and Final Judgment
substantially in the form annexed hereto as Exhibit B.

OPT-OUT TERMINATION RIGHT

22.           Simultaneously
herewith, Class Plaintiffs’ Counsel and Settling Defendants’ Counsel are
executing a “Supplemental Agreement” setting forth certain conditions under
which this Stipulation may be withdrawn or terminated by the Settling
Defendants if Class Members who purchased or otherwise acquired in excess of a
certain number of Priceline.com securities purchased or acquired during the
Class Period exclude themselves from the Class subject to the terms and
conditions set forth in the Supplemental Agreement.  The Supplemental Agreement shall not be filed
prior to the Settlement Fairness Hearing unless a dispute arises as to its
terms.  In the event of a withdrawal from
this Stipulation pursuant to the Supplemental Agreement, this Stipulation shall
become null and void and of no further force and effect and the provisions of
paragraph 25 shall apply. 
Notwithstanding the foregoing, this Stipulation shall not become null
and void as a result of the election by the Settling Defendants to exercise
their option to withdraw from the Stipulation pursuant to the Supplemental
Agreement until the conditions set forth in the Supplemental Agreement have
been satisfied.

EFFECTIVE DATE OF SETTLEMENT, WAIVER OR TERMINATION

23.           The Effective Date
of Settlement shall be the date when all the following shall have occurred:

(a)           approval by the
Court of the Settlement, following notice to the Class and a hearing, as
prescribed by Rule 23 of the Federal Rules of Civil Procedure; and

(b)           entry by the Court
of an Order and Final Judgment, substantially in the form set forth in
Exhibit B annexed hereto, and the expiration of any time for appeal or
review of such Order and Final Judgment, or, if any appeal is filed and not
dismissed, after such Order and Final Judgment is upheld on appeal in all
material respects and is no longer subject to review upon appeal or review by
writ of certiorari, or, in the event that the Court enters an order and final
judgment in form other than that provided above (“Alternative Judgment”) and
none of the parties hereto elect to terminate this Settlement, the date that
such Alternative Judgment becomes final and no longer subject to appeal or
review.

24.           Settling
Defendants or Class Plaintiffs’ Counsel shall have the right to terminate the
Settlement and this Stipulation by providing written notice of their election
to do so

 15
 

 

(“Termination
Notice”) to all other parties hereto within thirty (30) days of: (a) the
Court’s declining to enter the Order for Notice and Hearing or declining to
enter any material part of that order; (b) the Court’s refusal to approve this
Stipulation or any material part of it; (c) the Court’s declining to enter the
Order and Final Judgment or declining to enter any material part of that order;
(d) the date upon which the Order and Final Judgment is modified or reversed in
any material respect by the Court of Appeals or the Supreme Court; or (e) the
date upon which an Alternative Judgment is modified or reversed in any material
respect by the Court of Appeals or the Supreme Court.  Notwithstanding the prior paragraph, Settling
Defendants shall also have the right to terminate the Settlement and this
Stipulation pursuant to the terms set forth in the Supplemental Agreement.

25.           Except as otherwise
provided herein, in the event the Settlement is terminated, vacated, or fails
to become effective for any reason, then the parties to this Stipulation shall
be deemed to have reverted to their respective status in the Action as of 5:00
p.m. (Eastern Time), March 29, 2007, and, except as otherwise expressly
provided, the parties shall proceed in all respects as if this Stipulation and
any related orders had not been entered, and the entirety of the Gross
Settlement Amount (including, but not limited to, any attorneys fees and costs
awarded to Plaintiffs’ Counsel or any of them), together with any interest
earned thereon, less any Taxes due with respect to such income, and less costs
of administration and notice actually incurred and paid or payable from the
Settlement Amount (not to exceed $300,000 without the prior approval of
Settling Defendants or the Court) shall be returned pro rata to the persons
paying the same.

NO ADMISSION OF WRONGDOING

26.           This Stipulation,
whether or not consummated, and any proceedings taken pursuant to it:

(a)           shall not be offered
or received against the Settling Defendants as evidence of or construed as or
deemed to be evidence of any presumption, concession, or admission by any of
the Settling Defendants with respect to the truth of any fact alleged by any of
the Plaintiffs or Class Members or the validity of any claim that has been or
could have been asserted in the Action or in any litigation, or the deficiency
of any defense that has been or could have been asserted in the Action or in any
litigation, or of any liability, negligence, fault, or wrongdoing of the
Settling Defendants;

(b)           shall
not be offered or received against the Settling Defendants as

 16
 

 

evidence of a
presumption, concession or admission of any fault, misrepresentation or
omission with respect to any statement or written document approved or made by
any Settling Defendant;

(c)           shall not be offered
or received against the Settling Defendants as evidence of a presumption,
concession or admission with respect to any liability, negligence, fault or
wrongdoing, or in any way referred to for any other reason as against any of
the Settling Defendants, in any other civil, criminal or administrative action
or proceeding, other than such proceedings as may be necessary to effectuate the
provisions of this Stipulation; provided, however, that if this Stipulation is
approved by the Court, Settling Defendants may refer to it to effectuate the
liability protection granted them hereunder;

(d)           shall not be
construed against the Settling Defendants as an admission or concession that
the consideration to be given hereunder represents the amount which could be or
would have been recovered after trial; and

(e)           shall not be
construed as or received in evidence as an admission, concession or presumption
against Plaintiffs or any of the Class Members that any of their claims are
without merit, or that any defenses asserted by the Settling Defendants have
any merit, or that damages recoverable under the Complaint would not have
exceeded the Gross Settlement Fund.

MISCELLANEOUS
PROVISIONS

27.           All of the exhibits attached hereto
are hereby incorporated by reference as though fully set forth herein.

28.           Each Settling Defendant warrants as
to himself or itself that, as to the payments made by or on behalf of him or
it, at the time of such payment that the Settling Defendant made or caused to
be made pursuant to ¶4 above, he or it was not insolvent nor will the payment
required to be made by or on behalf of him or it render such Settling Defendant
insolvent within the meaning of and/or for the purposes of the United States
Bankruptcy Code, including §§ 101 and 547 thereof.  This warranty is made by each such Settling
Defendant and not by such Settling Defendant’s Counsel.

29.           The
parties to this Stipulation intend the Settlement to be a final and complete
resolution of all disputes asserted or which could be asserted by the Class
Members against the Released Parties with respect to the Settled Claims.  Accordingly, Plaintiffs and Settling
Defendants agree not to assert in any forum that the litigation was brought by
Plaintiffs or defended by Settling Defendants in bad faith or without a
reasonable basis.  The parties hereto

 17
 

 

shall assert no claims of
any violation of Rule 11 of the Federal Rules of Civil Procedure relating to
the prosecution, defense, or settlement of the Action.  The parties agree that the amount paid and
the other terms of the Settlement were negotiated at arm’s length in good faith
by the parties, and reflect a settlement that was reached voluntarily after
consultation with experienced legal counsel.

30.           This Stipulation may
not be modified or amended, nor may any of its provisions be waived except by a
writing signed by all parties hereto.

31.           The headings herein
are used for the purpose of convenience only and are not meant to have legal
effect.

32.           The administration
and consummation of the Settlement as embodied in this Stipulation shall be
under the authority of the Court and the Court shall retain jurisdiction for
the purpose of entering orders providing for awards of attorneys’ fees and
expenses to Plaintiffs’ Counsel and enforcing the terms of this Stipulation.

33.           The waiver by one
party of any breach of this Stipulation by any other party shall not be deemed
a waiver of any other prior or subsequent breach of this Stipulation.

34.           This Stipulation and
its exhibits constitute the entire agreement among the parties hereto
concerning the Settlement of the Action, and no representations, warranties, or
inducements have been made by any party hereto concerning this Stipulation and
its exhibits other than those contained and memorialized in such documents.

35.           This Stipulation may
be executed in one or more counterparts. 
All executed counterparts and each of them shall be deemed to be one and
the same instrument provided that counsel for the parties to this Stipulation
shall exchange among themselves original signed counterparts.

36.           This Stipulation
shall be binding upon, and inure to the benefit of, the successors and assigns
of the parties hereto.

37.           The
construction, interpretation, operation, effect and validity of this
Stipulation, and all documents necessary to effectuate it, shall be governed by
the internal laws of the State of Connecticut, without regard to conflicts of
laws, except to the extent that federal law requires that federal law governs.

 18
 

 

38.           This Stipulation
shall not be construed more strictly against one party than another merely by
virtue of the fact that it, or any part of it, may have been prepared by
counsel for one of the parties, it being recognized that it is the result of
arm’s-length negotiations between the parties and all parties have contributed
substantially and materially to the preparation of this Stipulation.

39.           All counsel and any
other person executing this Stipulation and any of the exhibits hereto, or any
related Settlement documents, warrant and represent that they have the full
authority to do so and that they have the authority to take appropriate action
required or permitted to be taken pursuant to the Stipulation to effectuate its
terms.

40.           Class Plaintiffs’
Counsel and Settling Defendants’ Counsel agree to cooperate fully with one
another in seeking Court approval of the Order for Notice and Hearing, the
Stipulation and the Settlement, and to promptly agree upon and execute all such
other documentation as may be reasonably required to obtain final approval by
the District Court of the Settlement.

	
  Dated:

  	
  By:

  	
   

  	
   

  
	
   

  	
  David R. Scott (ct16080)

  
	
   

  	
  SCOTT + SCOTT LLC

  
	
   

  	
  108 Norwich Ave,

  
	
   

  	
  Colchester CT 06415

  
	
   

  	
   

  
	
  Dated: 

  	
  By: 

  	
   

  	
   

  
	
   

  	
  Jacob B. Perkinson

  
	
   

  	
  JOHNSON & PERKINSON

  
	
   

  	
  1690 Williston Road

  
	
   

  	
  South Burlington, VT 05403

  
	
   

  	
   

  
	
   

  	
  Attorneys for Class Plaintiffs

  

 

 19
 

 

	
  Dated: 

  	
  By

  	
   

  	
   

  
	
   

  	
  Daniel Slifkin (ct21203)

  
	
   

  	
  CRAVATH, SWAINE & MOORE LLP

  
	
   

  	
  Worldwide Plaza

  
	
   

  	
  825 Eighth Avenue

  
	
   

  	
  New York, NY 10019

  
	
   

  	
  Telephone: (212) 474-1000

  
	
   

  	
  Fax: (212) 474-3700

  
	
   

  	
  -and-

  
	
   

  	
  Joseph L. Clasen (ct04090)

  
	
   

  	
  ROBINSON & COLE, LLP

  
	
   

  	
  Financial Centre

  
	
   

  	
  695 East Main Street

  
	
   

  	
  P.O. Box 10305

  
	
   

  	
  Stamford, CT 06904-2305

  
	
   

  	
  Telephone: (203) 462-7500

  
	
   

  	
  Fax: (203) 462-7599

  
	
   

  	
   

  
	
   

  	
  Attorneys for Defendants Priceline.com Inc.,
  N.J. Nicholas, Daniel Schulman and Richard S. Braddock

  

 

 20
 

 

	
  Dated: 

  	
  By

  	
   

  	
   

  
	
   

  	
  Jeanne E. Irving
  (phv01118)

  
	
   

  	
  HENNIGAN, BENNETT
  & DORMAN LLP

  
	
   

  	
  865 South
  Figueroa Street, Suite 2900

  
	
   

  	
  Los Angeles,
  California 90017

  
	
   

  	
  Telephone: (213)
  694-1200

  
	
   

  	
  Fax: (213)
  694-1234

  
	
   

  	
  -and-

  
	
   

  	
  Thomas D.
  Goldberg (ct04386)

  
	
   

  	
  DAY PITNEY LLP

  
	
   

  	
  One Canterbury
  Green

  
	
   

  	
  Stamford, CT
  06901

  
	
   

  	
  Phone: 

  	
  (203) 977-7300

  
	
   

  	
  Fax: 

  	
  (203) 977-7301

  
	
   

  	
   

  
	
   

  	
  Attorneys for Defendant Jay S. Walker

  
					

 

 21

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