Document:

Exhibit 10.1

 

CHARTER AGREEMENT

 

This
CHARTER AGREEMENT (the “Agreement”) is made and entered into as of April 29,
2005, by and between PROFLITE LLC, a Delaware limited liability company, having
its principal place of business at 233 Industrial Avenue, Teterboro, New
Jersey, 07608 (“ProFlite”) and MONSTER WORLDWIDE, INC., a Delaware corporation,
having its principal place of business at 622 Third Avenue, New York, New York,
10017 (“Customer”).

 

W I T N E S S E T H:

 

WHEREAS,
ProFlite is in the business of operating and chartering aircraft and is the
holder of a valid Air Carrier Certificate issued by the FAA under Part 135
of the Federal Aviation Regulations (“FARs”);

 

WHEREAS,
ProFlite has placed a Gulfstream Aerospace G-V aircraft, manufacturer’s Serial
Number 592, Federal Aviation Administration (“FAA”) Registration Number N90AM
with two (2) BMW Rolls-Royce BR710 engines, Serial Numbers 11291 and 11292
(the “Aircraft”) on ProFlite’s FAA Air Carrier Certificate No. U8FA077C;

 

WHEREAS,
Customer desires to charter the Aircraft from ProFlite and ProFlite desires to
charter the Aircraft to Customer.

 

NOW,
THEREFORE, in consideration of the foregoing recitals, the mutual promises,
covenants, agreements, representations and warranties contained in this
Agreement, the parties agree as follows:

 

1.                                       Term.  The term of this Agreement shall commence on
the date hereof and end on May 1, 2006 (“Expiration Date”).  In the event neither party gives the other
party written notice of termination at least thirty (30) days prior to the
Expiration Date, this Agreement shall be automatically renewed for a one (1) year
period upon the same terms and conditions. 
Further, this Agreement shall continue to be automatically renewed for
additional one (1) year periods on the same terms and conditions if no
notice of termination is received by either party at least thirty (30) days
prior to the end of the preceding one (1) year extension period.  (The initial period and any extensions
thereof shall hereinafter be referred to as the “Term”.)  Notwithstanding anything to the contrary set
forth above, (i) Customer or ProFlite may terminate the Agreement at any
time upon giving the other party at least thirty (30) days written notice and (ii) Customer
may terminate this Agreement immediately upon (a) suspension or revocation
of ProFlite’s Part 135 certificate or (b) if in any year, aircraft
operated by ProFlite are involved in more than two (2) incidents or
accidents reportable to the Federal Aviation Administration (the “FAA”) under
its rules and regulations as incidents or accidents and as a result of the
circumstances of such incidents or accidents the FAA suspends the ProFlite’s
pilot in command’s commercial pilot certificate or otherwise determines that
the incidents or accidents were ProFlite’s fault.

 

 

2.                                       Charter
Services and Operation.

 

a)                                      Charter
Services.  ProFlite shall operate all
flights conducted pursuant to this Agreement in accordance with the applicable
provisions of Part 135 of the FARs. 
In addition, ProFlite shall provide the following services as requested
by Customer and as appropriate:  i) schedule and
dispatch flight; ii) arrange ground transportation requirements for Aircraft
passengers; iii) arrange for catering; iv) arrange for landing permits,
clearances, and ground handling for domestic and international destinations;
and v) coordinate aircraft movements to support Customer’s travel schedule.

 

b)                                     Operational
Control.  It is hereby jointly agreed
and acknowledged between ProFlite and Customer that during all phases of all
flights conducted with the Aircraft under this Agreement, ProFlite shall have
and retain exclusive operational control and possession, command and control
over the Aircraft and the flight crew, and shall exercise sole authority over
initiating, conducting or terminating any flight.

 

c)                                      Discretion
of Pilot in Command.  ProFlite and
Customer expressly agree that the pilot-in-command of the Aircraft may, in his
or her sole discretion, terminate any flight, refuse to commence any flight, or
take any other flight-related action which, in the judgment of the
pilot-in-command, is necessary to ensure the safety of the Aircraft, the
passengers and the flight crew.  The
pilot-in-command shall have final and complete authority to postpone or cancel
any flight for any reason or condition which, in his or her judgment, would
compromise the safety of the flight.

 

3.                                       Fees
and Expenses.

 

a)                                      Charter
Rate.  Customer shall be entitled to
One Hundred Fifty (150) charter hours of flight time on the Aircraft per year
during each twelve month period of the Term of this Agreement beginning on the
date hereof.  Customer shall pay a
charter rate of Six Thousand United States Dollars (US$6,000.00) per charter
hour on the Aircraft (the “Charter Rate”). 
The number of charter hours shall be computed in hours and tenths of
hours from the time of Aircraft liftoff at the departure point to the time of
Aircraft touchdown at the arrival airport. 
If any charter flight for Customer involves positioning or repositioning
of the Aircraft, the number of charter hours required for such positioning
flights shall be included in the number of charter hours utilized and payable
by Customer at the Charter Rate.

 

b)                                     Invoice.  ProFlite shall send Customer an invoice of
flat fee charter hours flown plus any applicable taxes due and payable by
Customer. Payment is due within forty (five) days of receipt of the invoice
from ProFlite.

 

4.                                       Use
and Scheduling.

 

a)                                      Scheduling.  Customer charter
flights will be scheduled through ProFlite by Customer’s designated representatives.  Those persons listed in Exhibit A are
authorized to schedule the use of the Aircraft under this Agreement.  Customer will give ProFlite reasonable
advance notice to schedule flights, notify the flight crew, and prepare
the Aircraft for departure.

 

2

 

Notice given to ProFlite
should include the following information: 
i) departure and destination airports; ii) departure date and time; iii)
number of passengers; iv) nature and extent of baggage; and v) any other
information reasonably requested by ProFlite. 
Upon receipt of such notice, ProFlite shall use its best efforts to
assure that the Aircraft and flight crew are prepared and ready for departure at
least one (1) hour prior to the proposed departure time.  Customer may cancel or delay any scheduled
charter flight without penalty.

 

b)                                     Alternative
Charter Services.  In the event that
ProFlite is unable to schedule or perform any charter flight utilizing the
Aircraft for any reason, ProFlite shall promptly notify the Customer and shall
provide Customer with information regarding the availability and cost of
alternative charter services that may reasonably satisfy Customer’s travel
requirements.

 

5.                                       Representations
and Covenants of ProFlite.  ProFlite
represents, warrants and covenants that it is, and at all times during the Term
of this Agreement will continue to be, the holder of FAA Air Carrier
Certificate No U8FA077C; that it is, and at all times during the Term of this
Agreement will continue to be, knowledgeable and experienced in the conduct of Part 135
operations; and that it has, and at all times during the Term of this Agreement
will continue to have, the personnel and facilities necessary to fully
discharge its obligations on the terms and conditions set forth herein; that
prior to or as of the execution of this Agreement, all corporate authority
requisite for the execution of this Agreement and to carry out the transactions
contemplated hereunder, will have been obtained; that it has, and at all times
during the Term of this Agreement will continue to have, all approvals,
licenses, permits and other authorizations from any governmental authority
necessary to perform its obligations under this Agreement; that it will comply
with all laws and regulations of any governmental authority applicable to this
Agreement and the performance of its obligations hereunder, including, but not
limited to, regulations promulgated by the FAA; and that it will have
operational control and possession, command and control of the Aircraft during
all Part 135 flights.

 

6.                                       Insurance.  During the Term of this Agreement, ProFlite
will maintain or cause to be maintained in full force and effect, at its own
expense, Aircraft liability insurance, including passenger liability, with a
combined single limit of not less than Two Hundred Million United States
Dollars (US$200,000,000) applicable to bodily injury to or death of persons and
loss of or damage to property in any one occurrence.  Such liability insurance shall name Customer
and its subsidiaries, affiliates, officers, agents and employees as additional
insureds and the Aircraft hull insurance shall provide for a waiver of
subrogation against Customer and its subsidiaries, affiliates, officers, agents
and employees.  Further, the liability
coverage shall not be considered contributory insurance with respect to any
insurance policies of Customer or its subsidiaries or affiliates.  ProFlite shall provide Customer with a
certificate of insurance evidencing the insurance required hereunder.  The certificate shall provide that thirty
(30) days prior written notice shall be given to Customer in the event of
cancellation or material change in the policies (except ten (10) days
written notice with respect to cancellation for non-payment of premium and such
shorter period as is customarily available with respect to war risk insurance).

 

3

 

7.                                       General
Provisions.

 

a)                                      Relationship
of the Parties.  The parties intend
this Agreement to provide solely for the charter of the Aircraft.  Nothing contained in this Agreement shall in
any way create any association, partnership, joint venture or principal and
agent relationship between the parties hereto or be construed to evidence the
intention of the parties to constitute such.

 

b)                                     Headings.  The headings of the sections of this
Agreement are included for convenience only and shall not affect the
construction or interpretation of any of its provisions.

 

c)                                      Entire
Agreement.  This Agreement
constitutes the entire agreement between the parties pertaining to the subject
matter contained in it and supersedes all prior and contemporaneous agreements,
representations and understandings of the parties.  No supplement, modification or amendment of
this Agreement shall be binding unless executed in writing by all the parties.

 

d)                                     Counterparts.  This Agreement may be executed simultaneously
in one or more counterparts, each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument.  The parties may exchange executed copies
transmitted by facsimile, and the parties agree that executed originals will be
forwarded by mail or courier.

 

e)                                      Successors
and Assigns.  This Agreement shall be
binding on, and shall inure to the benefit of, the parties to it and their
respective heirs, legal representatives, successors and assigns; provided,
however, that neither party may assign any of its rights under this Agreement
without the prior written consent of the other party.

 

f)                                        Survival.  All representations, warranties,
indemnifications, covenants and agreements of the parties contained in this
Agreement, or in any instrument, certificate, exhibit, schedule, or other
writing provided for in it, shall survive the Term.

 

g)                                     Notices.  All notices or other communications which
shall or may be given pursuant to this Agreement shall be in writing, shall be
delivered by certified mail or registered mail with postage prepaid, return
receipt requested, by facsimile transmission or by hand.  Such communication shall be deemed given and
received upon dispatch, if sent by facsimile transmission, or upon delivery if
hand delivered; or within three (3) days of mailing, if sent by certified
or registered mail, at the addresses set forth below.  Any address for notice to a party may be
changed at any time by written notice to the other parties:

 

	
  To ProFlite at:

  	
  ProFlite LLC

  
	
   

  	
  233 Industrial
  Avenue

  
	
   

  	
  Teterboro, New
  Jersey 07608

  
	
   

  	
  Attn: Ted Button

  
	
   

  	
  Phone: 201-288-5762

  
	
   

  	
  Facsimile: 201-288-5741

  

 

4

 

	
  To Customer at:

  	
  Monster
  Worldwide, Inc.

  
	
   

  	
  622 Third Avenue

  
	
   

  	
  New York, New
  York

  
	
   

  	
  Attn: Lanny
  Baker

  
	
   

  	
  Phone: 212-351-7005

  
	
   

  	
  Facsimile: 917-256-8017

  

 

h)                                     Governing
Law.  This Agreement shall be construed
in accordance with, and governed by, the laws of the State of New York.

 

i)                                         Partial
Invalidity.  If any provision of this
Agreement is held invalid or unenforceable by any court of final jurisdiction,
it is the intent of the parties that all other provisions of this Agreement be
construed to remain fully valid, enforceable and binding on the parties.

 

IN
WITNESS WHEREOF, the parties hereunto have each caused this Agreement to be
duly executed as of the day and year first written above:

 

	
  Monster
  Worldwide, Inc.

  	
   

  	
  ProFlite
  LLC

  
	
   

  	
   

  	
   

  
	
  By:

  	
   /s/ 
  Myron Olesnyckyj

  	
   

  	
  By:

  	
   /s/ 
  Ted Button

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Title: 

  	
   Senior Vice President

  	
   

  	
  Title:

  	
  President

  
								

 

5

 

EXHIBIT A

 

The following individuals are authorized to schedule the
use of the Aircraft under this Agreement:

 

Nancy Rooney

 

6Exhibit 10(a)

 

[SUTHERLAND ASBILL & BRENNAN LLP
LETTERHEAD]

 

 

	
  DAVID S. GOLDSTEIN

  
	
  DIRECT LINE:
  202.383.0606

  
	
  Internet:
  david.goldstein@sablaw.com

  

 

 

April 27, 2005

 

 

Board of Directors

Protective Life Insurance Company

2801 Highway 201 South

Birmingham, Alabama 35223

 

Directors:

 

We hereby consent to the reference to our
name under the caption “Legal Matters” in the statement of additional
information filed as part of post-effective amendment number 1 to the
registration statement on Form N-4 (File No. 333-116813) filed by Protective
Life Insurance Company and Protective Variable Annuity Separate Account with
the Securities and Exchange Commission. 
In giving this consent, we do not admit that we are in the category of
persons whose consent is required under Section 7 of the Securities Act of
1933.

 

 

	
   

  	
  Sincerely,

  
	
   

  	
   

  	
   

  
	
   

  	
  SUTHERLAND ASBILL & BRENNAN LLP

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
    /s/ David S. Goldstein

  	
   

  
	
   

  	
   

  	
         David
  S. Goldstein

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