Document:

Exhibit 4.2

 

CUSIP NO. 579780AF4

 

REGISTERED

PRINCIPAL AMOUNT U.S.$250,000,000

No. 1

 

McCORMICK &
COMPANY, INCORPORATED

U.S.$250,000,000
5.75% NOTES DUE 2017

 

                If the registered
owner of this Security (as indicated below) is The Depository Trust Company (the
“Depository”) or a nominee of the Depository, this Security is a Global
Security and the following two legends apply:

 

UNLESS THIS CERTIFICATE IS PRESENTED BY AN AUTHORIZED REPRESENTATIVE OF
THE DEPOSITORY TRUST COMPANY (55 WATER STREET, NEW YORK, NEW YORK) TO THE
ISSUER OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND SUCH
CERTIFICATE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO., OR SUCH
OTHER NAME AS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY, ANY
TRANSFER, PLEDGE OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON
IS WRONGFUL, SINCE THE REGISTERED OWNER HEREOF, CEDE & CO., HAS AN
INTEREST HEREIN.

 

UNLESS AND UNTIL THIS CERTIFICATE IS EXCHANGED IN WHOLE OR IN PART FOR
SECURITIES IN CERTIFICATED FORM, THIS CERTIFICATE MAY NOT BE TRANSFERRED EXCEPT
AS A WHOLE BY THE DEPOSITORY TO A NOMINEE THEREOF OR BY A NOMINEE THEREOF TO
THE DEPOSITORY OR ANOTHER NOMINEE OF THE DEPOSITORY OR BY THE DEPOSITORY OR ANY
SUCH NOMINEE TO A SUCCESSOR OF THE DEPOSITORY OR A NOMINEE OF SUCH SUCCESSOR.

 

IF APPLICABLE, THE “TOTAL AMOUNT OF OID”, “YIELD TO MATURITY” AND “INITIAL
ACCRUAL PERIOD OID” (COMPUTED UNDER THE APPROXIMATE METHOD) BELOW WILL BE
COMPLETED SOLELY FOR THE PURPOSES OF APPLYING THE FEDERAL INCOME TAX ORIGINAL
ISSUE DISCOUNT (“OID”) RULES.

 

 

1

 

 

	
  ISSUE PRICE: $249,900,000

  	
   

  	
  OPTION TO ELECT REPAYMENT:

  
	
   

  	
   

  	
  o YES x NO

  
	
   

  	
   

  	
   

  
	
  ORIGINAL ISSUE DATE: December 7, 2007

  	
   

  	
  OPTIONAL REPAYMENT DATES:

  
	
   

  	
   

  	
   

  
	
  STATED MATURITY DATE: December 15, 2017

  	
   

  	
  MINIMUM DENOMINATION:

  
	
   

  	
   

  	
  o $1,000

  x Other:
  $2,000

  
	
   

  	
   

  	
   

  
	
  SPECIFIED CURRENCY:

  United States Dollars:

  x YES o NO

  	
   

  	
  ADDITIONAL AMOUNTS:

  

  DEFEASANCE: x YES o NO

  
	
   

  	
   

  	
   

  
	
  Foreign Currency:

  	
   

  	
  COVENANT DEFEASANCE:

  
	
   

  	
   

  	
  x YES o NO

  
	
   

  	
   

  	
   

  
	
  EXCHANGE RATE AGENT:

  	
   

  	
  TOTAL AMOUNT OF OID:

  
	
   

  	
   

  	
   

  
	
  OPTION TO RECEIVE PAYMENTS IN SPECIFIED

  CURRENCY OTHER THAN U.S. DOLLARS:o YES

  x NO

  	
   

  	
  YIELD TO MATURITY: 5.755%

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
  INITIAL ACCRUAL PERIOD OID:

  
	
   

  	
   

  	
   

  
	
  INTEREST RATE: 5.75%

  	
   

  	
  SINKING FUND:

  
	
   

  	
   

  	
   

  
	
  PRINCIPAL FINANCIAL CENTER:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  INTEREST PAYMENT DATES IF OTHER THAN APRIL 15 AND
  OCTOBER 15: June 15 and December 15

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  REGULAR RECORD DATES IF OTHER THAN APRIL 1 AND
  OCTOBER 1: June 1 and December 1

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  OPTIONAL REDEMPTION: x YES o NO

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  INITIAL REDEMPTION DATE:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  INITIAL REDEMPTION PERCENTAGE:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  ANNUAL REDEMPTION PERCENTAGE

  REDUCTION:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  OTHER/DIFFERENT PROVISIONS:

  	
   

  	
   

  

 

                McCORMICK &
COMPANY, INCORPORATED, a Maryland corporation (herein referred to as the “Company”,
which term includes any successor corporation under the Indenture hereinafter
referred to), for value received, hereby promises to pay to Cede & Co., or
registered assigns, the principal sum of $250,000,000 on the Stated Maturity
Date shown above (except to the extent redeemed or repaid prior to the Stated
Maturity Date) and to pay interest, if any, thereon at the Interest Rate shown
above from the Original Issue Date shown above or from the most recent Interest
Payment Date to which interest, if any, has been paid or duly provided for,
semiannually on June 15 and December 15 of each year (unless other Interest
Payment Dates are shown on the face hereof) (each, an “Interest Payment Date”)
until the principal hereof is paid or made available for payment and on the
Stated Maturity Date, any Redemption Date or Repayment Date (such terms are
together hereinafter referred to as the “Maturity Date” with respect to the
principal repayable on such date); provided, however, that any payment of
principal (or premium, if any) or interest, if any, to be made on any Interest
Payment Date or on the Maturity Date that is not a Business Day (as defined
below) shall be made on the next succeeding Business Day with the same force
and effect as if made on such Interest Payment Date or the Maturity Date, as
the case may be, and no additional interest, if any, shall accrue on the amount
so payable as a result of such delayed payment. For purposes of this Security,
unless otherwise specified on the face

 

 

2

 

hereof, “Business Day” means any day that is not a Saturday or Sunday
and that is neither a legal holiday nor a day on which commercial banks are
authorized or required by law, regulation or executive order to close in The
City of New York; provided, however, that, if the Specified Currency shown
above is a foreign currency, such day is also not a day on which commercial
banks are authorized or required by law, regulation or executive order to close
in the Principal Financial Center (as defined below) of the country issuing the
Specified Currency (or, if the Specified Currency is the euro, such day is also
a day on which the Trans-European Automated Real-Time Gross
Settlement Express Transfer (TARGET) System is open). “Principal Financial
Center” means the capital city of the country issuing the Specified Currency
except that with respect to United States dollars, Australian dollars, Canadian
dollars, Deutsche marks, Dutch guilders, South African rand and Swiss francs,
the “Principal Financial Center” shall be The City of New York, Sydney and (solely
in the case of the Specified Currency) Melbourne, Toronto, Frankfurt,
Amsterdam, Johannesburg and Zurich, respectively.

 

                Any interest
hereon will accrue from, and including, the immediately preceding Interest
Payment Date in respect of which interest, if any, has been paid or duly
provided for (or from, and including, the Original Issue Date if no interest
has been paid or duly provided for) to, but excluding, the succeeding Interest
Payment Date or the Maturity Date, as the case may be. The interest, if any, so
payable, and punctually paid or duly provided for, on any Interest Payment Date
will, as provided in the Indenture and subject to certain exceptions described
herein (referred to on the reverse hereof), be paid to the person (the “Holder”)
in whose name this Security (or one or more Predecessor Securities) is
registered at the close of business on the June 1 or December 1
(whether or not a Business Day), as the case may be, next preceding such
Interest Payment Date (unless other Regular Record Dates are specified on the
face hereof) (each, a “Regular Record Date”); provided, however, that, if this
Security was issued between a Regular Record Date and the initial Interest
Payment Date relating to such Regular Record Date, interest, if any, for the
period beginning on the Original Issue Date and ending on such initial Interest
Payment Date shall be paid on the Interest Payment Date following the next
succeeding Regular Record Date to the Holder hereof on such next succeeding
Regular Record Date; and provided further that interest, if any, payable on the
Maturity Date will be payable to the person to whom the principal hereof shall
be payable. Any such interest not so punctually paid or duly provided for on
any Interest Payment Date other than the Maturity Date (“Defaulted Interest”)
will forthwith cease to be payable to the Holder on such Regular Record Date
and may either be paid to the person in whose name this Security (or one or
more Predecessor Securities) is registered at the close of business on a
special record date (the “Special Record Date”) for the payment of such
Defaulted Interest to be fixed by the Trustee (referred to on the reverse
hereof), notice whereof shall be given to the Holder of this Security not less
than ten days prior to such Special Record Date, or may be paid at any time in
any other lawful manner, all as more fully provided in the Indenture.

 

                Unless otherwise
specified above, all payments in respect of this Security will be made in U.S.
dollars regardless of the Specified Currency shown above unless the Holder
hereof makes the election described below. If the Specified Currency shown
above is other than U.S. dollars, the Exchange Rate Agent (referred to on the
reverse hereof) will arrange to convert any such amounts so payable in respect
hereof into U.S. dollars in the manner described on the reverse hereof;
provided, however, that the Holder hereof may, if so indicated above, elect to
receive all or any specified portion of any payment of principal, premium, if
any, and/or interest, if any, in respect of this Security in such Specified
Currency by delivery of a written request to the corporate trust office of the
Trustee in The City of New York, currently the office of the Trustee located at
The Bank of New York, 101 Barclay Street, Floor 8W, New York, New York 10286,
or at such other office in The City of New York, as the Company may determine,
on or prior to the applicable Regular Record Date or at least fifteen days
prior to the Maturity Date, as the case may be. Such request may be in writing
(mailed or hand delivered) or by cable, telex or other form of facsimile
transmission. The Holder hereof may elect to receive payment in such Specified
Currency for all principal, premium, if any, and interest payments, if any, and
need not file a separate election for each payment. Such election will remain
in effect until revoked by written notice to the Trustee, but written notice of
any such revocation must be received by the Trustee on or prior to the
applicable Regular Record Date or at least fifteen days prior to the Maturity
Date, as the case may be.

 

                Notwithstanding
the foregoing, if the Company determines that the Specified Currency is not
available for making payments in respect hereof due to the imposition of
exchange controls or other circumstances beyond the Company’s control, or is no
longer used by the government of the country issuing such currency or for the
settlement of transactions by public institutions of or within the
international banking community, then the Holder hereof may not so elect to
receive payments in the Specified Currency and any such outstanding election
shall be automatically suspended, until the Company determines that the
Specified Currency is again available for making such payments. Any payment
made under such circumstances in U.S. dollars where the required payment is in
a Specified Currency will not constitute a default under the Indenture.

 

                In the event of an
official redenomination of the Specified Currency, the obligations of the
Company with respect to payments on this Security, in all cases, shall be
deemed immediately following such redenomination to provide for payment of that
amount of redenominated currency representing the amount of such obligations
immediately before such redenomination. In no event shall any adjustment be
made to any amount payable hereunder as a result of any change in the value of
the Specified Currency shown above relative to any other currency due solely to
fluctuations in exchange rates.

 

 

3

 

                Until this
Security is paid in full or payment therefor in full is duly provided for, the
Company will at all times maintain a Paying Agent (which Paying Agent may be
the Trustee) in The City of New York, currently the office of the Trustee
located at The Bank of New York, 101 Barclay Street, Floor 8W, New York, New
York 10286, or at such other office in The City of New York, as the Company may
determine (which, unless otherwise specified above, shall be the “Place of
Payment”). The Company has initially appointed The Bank of New York, at its
office in The City of New York, currently the office of the Trustee located at
The Bank of New York, 101 Barclay Street, Floor 8W, New York, New York 10286,
or at such other office in The City of New York, as the Company may determine
as Paying Agent.

 

                Unless otherwise
shown above, payment of interest on this Security (other than on the Maturity
Date) will be made by check mailed to the registered address of the Holder
hereof as of the Regular Record Date; provided, however, that, if (i) the
Specified Currency is U.S. dollars and this is a Global Security (as defined on
the reverse hereof) or (ii) the Specified Currency is a Foreign Currency,
and the Holder has elected to receive payments in such Specified Currency as
provided for above, such interest payments will be made by transfer of
immediately available funds, but only if appropriate wire transfer instructions
have been received in writing by the Trustee on or prior to the applicable Regular
Record Date. Simultaneously with any election by the Holder hereof to receive
payments in respect hereof in the Specified Currency (if other than U.S.
dollars), such Holder may provide appropriate wire transfer instructions to the
Trustee, and all such payments will be made in immediately available funds to
an account maintained by the payee with a bank, but only if such bank has
appropriate facilities therefor. Unless otherwise specified above, the
principal hereof (and premium, if any) and interest, if any, hereon payable on
the Maturity Date will be paid in immediately available funds upon surrender of
this Security at the office of the Trustee maintained for that purpose in The
City of New York, currently the office of the Trustee located at The Bank of
New York, 101 Barclay Street, Floor 8W, New York, New York 10286, or at such
other office in The City of New York, as the Company may determine. The Company
will pay any administrative costs imposed by banks in making payments in
immediately available funds but, except as otherwise provided under Additional
Amounts above, any tax, assessment or governmental charge imposed upon payments
will be borne by the Holders of the Securities in respect of which such
payments are made.

 

                Interest on this
Security, if any, will be computed on the basis of a 360-day year of
twelve 30-day months.

 

                REFERENCE IS
HEREBY MADE TO THE FURTHER PROVISIONS OF THIS SECURITY SET FORTH ON THE REVERSE
HEREOF, WHICH FURTHER PROVISIONS SHALL FOR ALL PURPOSES HAVE THE SAME EFFECT AS
IF SET FORTH AT THIS PLACE.

 

                Unless the
certificate of authentication hereon has been executed by the Trustee by manual
signature, this Security shall not be entitled to any benefit under the
Indenture or be valid or obligatory for any purpose.

 

 

4

 

                IN WITNESS
WHEREOF, the Company has caused this instrument to be duly executed under its
facsimile corporate seal.

 

	
   

  	
  McCORMICK & COMPANY, INCORPORATED

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Paul C. Beard 

  
	
   

  	
   

  	
  Title:

  	
  Vice President Finance and Treasurer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Gordon M. Stetz, Jr.

  
	
   

  	
   

  	
  Title:

  	
  Executive Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
  [CORPORATE SEAL]

  	
   

  	
   

  	
   

  
					

 

	
  Attest:

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  W. Geoffrey Carpenter

  	
   

  
	
   

  	
  Title:

  	
  Associate General Counsel and

  	
   

  
	
   

  	
   

  	
  Assistant Secretary

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
  Dated:

  	
  December 7, 2007

  	
   

  

 

 

5

 

 

TRUSTEE’S
CERTIFICATE OF AUTHENTICATION

 

	
   

  	
  This is one of the Securities of the series designated therein
  referred to in the within-mentioned Indenture

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  The Bank of New York, as Trustee

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Authorized Signatory

  
						

Dated:  December 7, 2007

 

 

6

 

 

McCORMICK &
COMPANY, INCORPORATED

U.S.
$250,000,000 5.75% NOTE DUE 2017

                Section 1.  General.  This Security is one of a duly authorized
issue of securities (herein called the “Securities”) of the Company, issued and
to be issued in one or more series under that certain Indenture, dated as of
December 7, 2007, as it may be supplemented from time to time (herein
called the “Indenture”), between the Company and The Bank of New York, Trustee
(herein called the “Trustee”, which term includes any successor trustee under
the Indenture with respect to a series of which this Security is a part), to
which Indenture and all indentures supplemental thereto, reference is hereby
made for a statement of the respective rights, limitations of rights, duties
and immunities thereunder of the Company, the Trustee and the Holders of the
Securities, and of the terms upon which the Securities are, and are to be,
authenticated and delivered.

                Section 2.  Payments.  If the Specified Currency is other than U.S.
dollars and the Holder hereof fails to elect payment in such Specified Currency
in accordance with the procedures set forth on the face hereof, the amount of
U.S. dollar payments to be made in respect hereof will be determined by the
Exchange Rate Agent specified on the face hereof or a successor thereto (the “Exchange
Rate Agent”) based on the highest bid quotation in The City of New York at
approximately 11:00 A.M., New York City time, on the second Business Day
preceding the applicable payment date received by the Exchange Rate Agent from
three recognized foreign exchange dealers (one of whom may be the Exchange Rate
Agent) selected by the Exchange Rate Agent and approved by the Company for the
purchase by the quoting dealer of the Specified Currency for U.S. dollars for
settlement on such payment date in the aggregate amount of the Specified
Currency payable to all holders of Securities scheduled to receive U.S. dollar
payments and at which the applicable dealer commits to execute a contract. If
three such bid quotations are not available, payments will be made in the
Specified Currency.

 

                If the Specified
Currency is other than U.S. dollars and the Holder hereof has elected payment
in such Specified Currency in accordance with the procedures set forth on the
face hereof and the Specified Currency is not available due to the imposition
of exchange controls or to other circumstances beyond the Company’s control,
the Company will be entitled to satisfy its obligations to the Holder of this
Security by making such payment in U.S. dollars on the basis of the noon buying
rate in The City of New York for cable transfers of such Specified Currency as
certified for customs purposes (or, if not so certified, as otherwise
determined) by the Federal Reserve Bank of New York (the “Market Exchange Rate”)
as computed by the Exchange Rate Agent on the second Business Day prior to the
applicable payment date or, if the Market Exchange Rate is then not available,
on the basis of the most recently available Market Exchange Rate or as
otherwise indicated above. Any payment made under such circumstances in U.S.
dollars where the required payment is in a Specified Currency will not
constitute a default under the Indenture.

 

                All determinations
referred to above made by the Exchange Rate Agent shall be at its sole
discretion (except to the extent expressly provided that any determination is
subject to approval by the Company) and, in the absence of manifest error,
shall be conclusive for all purposes and binding on the Holder of this
Security, and the Exchange Rate Agent shall have no liability therefor.

 

                All currency
exchange costs will be borne by the Company.

 

                References
herein to “U.S. dollars” or “U.S. $” or “$” are to the currency of the United
States of America.

                Section 3.  Redemption.  If so specified on the face hereof, the
Company may at its option redeem this Security in whole or from time to time in
part in increments of $1,000 (provided that any remaining principal amount of
this Security shall not be less than the Minimum Denomination specified on the
face hereof) at a Redemption Price equal to the greater of (i) 100% of the principal
amount hereof and (ii) the sum of the present values of the remaining scheduled
payments of principal and interest thereon (exclusive of interest accrued to
the Redemption Date) discounted to the Redemption Date on a semiannual basis
(assuming a 360-day year consisting of twelve 30-day months) at the Treasury
Rate plus 30 basis points, plus, in either case, accrued and unpaid interest
thereon to the Redepmtion Date.  The
Company may exercise such option by causing the Trustee to mail a notice of such
redemption at least 30 but not more than 60 days prior to the Redemption
Date.  In the event of redemption of this
Security in part only, a new Security or Securities for the unredeemed portion
hereof shall be issued in the name of the Holder hereof upon the cancellation
hereof.  If less than all of the
Securities with like tenor and terms to this Security are to be redeemed, the
Securities to be redeemed shall be selected by the Trustee by such method as
the Trustee shall deem fair and appropriate. 
However, if less than all the Securities of the series with differing
tenor and terms to this Security are to be redeemed, then the Company in its
sole discretion shall select the particular Securities to be redeemed and shall
notify the Trustee in writing thereof at least 45 days prior to the relevant
Redemption Date.

 

                For purposes of
the foregoing:

 

 

7

 

                ‘‘Treasury Rate’’
means, with respect to any Redemption Date, (a) the yield, under the heading
which represents the average for the immediately preceding week, appearing in
the most recently published statistical release published by the Board of
Governors of the Federal Reserve System designated as ‘‘Statistical Release
H.15(519)’’ or any successor publication which is published weekly by the Board
of Governors of the Federal Reserve System and which establishes yields on
actively traded United States Treasury securities adjusted to constant maturity
under the caption ‘‘Treasury Constant Maturities,’’ for the maturity
corresponding to the Comparable Treasury Issue (if no maturity is within three
months before or after the maturity date, yields for the two published
maturities most closely corresponding to the Comparable Treasury Issue shall be
determined and the Treasury Rate shall be interpolated or extrapolated from
such yields on a straight line basis, rounding to the nearest month), or (b) if
such release (or any successor release) is not published during the week
preceding the calculation date or does not contain such yields, the rate per
year equal to the semiannual equivalent yield to maturity of the Comparable
Treasury Issue, calculated using a price for the Comparable Treasury Issue
(expressed as a percentage of its principal amount) equal to the Comparable
Treasury Price for such Redemption Date. The Treasury Rate shall be calculated
on the third business day preceding the Redemption Date.

 

                ‘‘Comparable
Treasury Issue’’ means the United States Treasury security selected by an
Independent Investment Banker as having an actual or interpolated maturity
comparable to the remaining term of the notes to be redeemed that would be
utilized, at the time of selection and in accordance with customary financial
practice, in pricing new issues of corporate debt securities of a comparable
maturity to the remaining term of such notes.

 

                ‘‘Independent
Investment Banker’’ means Wachovia Capital Markets, LLC or Banc of America
Securities LLC or either of their respective successors, or if both such firms
are unwilling or unable to select the Comparable Treasury Issue, an independent
investment banking institution of national standing appointed by the Trustee
after consultation with us.

 

                ‘‘Comparable
Treasury Price’’ means, with respect to any Redemption Date, (1) the average of
the Reference Treasury Dealer Quotations for such Redemption Date, after
excluding the highest and lowest such Reference Treasury Dealer Quotations, or
(2) if the Trustee obtains fewer than four such Reference Treasury Dealer
Quotations, the average of all such quotations.

 

                ‘‘Reference
Treasury Dealer’’ means (1) Banc of America Securities LLC or its affiliates
which are primary U.S. Government securities dealers in The City of New York (a
‘‘Primary Treasury Dealer’’), and its successors, and (2) three other Primary
Treasury Dealers selected by us; provided, however,
that if any of the foregoing or their affiliates shall cease to be a Primary
Treasury Dealer, we shall substitute therefor another Primary Treasury Dealer.

 

                ‘‘Reference
Treasury Dealer Quotations’’ means, with respect to each Reference Treasury
Dealer and any Redemption Date, the average, as determined by the Trustee, of
the bid and asked prices for the Comparable Treasury Issue (expressed in each
case as a percentage of its principal amount) quoted in writing to the Trustee
by such Reference Treasury Dealer at 5:00 p.m., New York time, on the third
business day preceding such Redemption Date.

                Section 4.  Repayment.  If so specified on the face hereof, this
Security shall be repayable prior to the Stated Maturity Date at the option of
the Holder on each applicable Optional Repayment Date shown on the face hereof
at a repayment price equal to 100% of the principal amount to be repaid,
together with accrued interest, if any, to the Repayment Date. In order for
this Security to be repaid, the Trustee must receive at least 30 but not more
than 45 days prior to an Optional Repayment Date, this Security with the form
attached hereto entitled “Option to Elect Repayment” duly completed. Any tender
of this Security for repayment shall be irrevocable. The repayment option may
be exercised by the Holder of this Security in whole or in part in increments
of $1,000 (provided that any remaining principal amount of this Security shall
not be less than the Minimum Denomination specified on the face hereof). Upon
any partial repayment, this Security shall be canceled and a new Security or
Securities for the remaining principal amount hereof shall be issued in the
name of the Holder of this Security.

 

                Section 5.  Change of Control Redemption.  If a Change of Control Triggering Event, as
defined below, occurs, each Holder of this Security will have the right to
require the Company to repurchase all or any part (equal to $2,000 or an
integral multiple of $1,000 in excess thereof) of this Security pursuant to the
offer described below (the “Change of Control Offer”) on the terms set forth
herein.  In the Change of Control Offer,
the Company will be required to offer payment in cash equal to 101% of the
aggregate principal amount of this Security repurchased plus accrued and unpaid
interest, if any, on the Security repurchased, to the date of purchase (the “Change
of Control Payment”).  Within 30 days
following any Change of Control Triggering Event, the Company will send notice
of such Change of Control Offer (the “Change of Control Offer Notice”) by
first-class mail, with a copy to the Trustee, to each Holder of this Security
to the address of such Holder appearing in the security register or otherwise
in accordance with the procedures of The Depository Trust Company (the “Depositary”)
with a

 

 

8

 

copy to the Trustee, with the following information: (a) that the
Change of Control Offer is being made pursuant to the provisions of the
Indenture and that each Security properly tendered pursuant to such Change of
Control Offer will be accepted for payment by the Company; (b) the date of the
Change of Control Triggering Event; (c) the date, which will be no earlier than
30 days and no later than 60 days after the date the Change of Control Offer
Notice is mailed, by which the Company must purchase the Security (the “Change
of Control Payment Date”); (d) the price that the Company must pay for the
Security the Company is obligated to purchase; (e) the name and address of the
Trustee; (f) that any Security not properly tendered will remain outstanding
and continue to accrue interest; (g) that unless the Company defaults in the
payment of the Change of Control Payment, each Security accepted for payment
pursuant to the Change of Control Offer will cease to accrue interest on the
Change of Control Payment Date; (h) the procedures for surrendering the
Security for payment; and (i) the procedures by which a Holder may withdraw such
a tender after it is given.

 

                The Company must
comply with the requirements of Rule 14e-1 under the Exchange Act and any other
securities laws and regulations thereunder to the extent those laws and
regulations are applicable in connection with the purchase of this Security as
a result of a Change of Control Triggering Event.  To the extent that the provisions of any
securities laws or regulations conflict with the Change of Control provisions
of this Security, the Company will be required to comply with the applicable
securities laws and regulations and will not be deemed to have breached its
obligations under the Change of Control provisions of this Security by virtue
of such conflicts.

 

                On the Change of
Control Payment Date, the Company will be required, to the extent lawful, to:
(a) accept for payment all or a part of this Security properly tendered
pursuant to the Change of Control Offer; (b) deposit with the paying agent an
amount equal to the Change of Control Payment in respect of all or the part of this
Security properly tendered; and (c) deliver or cause to be delivered to the
Trustee each Security properly accepted.

 

                For purposes of
the foregoing:

 

                “Below Investment
Grade Rating Event” means this Security is rated below an Investment Grade
Rating by each of the Rating Agencies (as defined below) on any date from the
date of the public notice of an arrangement that could result in a Change of
Control until the end of the 60-day period following public notice of the
occurrence of the Change of Control (which 60-day period shall be extended so
long as the rating of this Security is under publicly announced consideration
for possible downgrade by either of the Rating Agencies).

 

                “Change of Control”
means the occurrence of any of the following: (1) the direct or indirect sale,
transfer, conveyance or other disposition (other than by way of merger or
consolidation), in one or a series of related transactions, of all or
substantially all of the properties or assets of the Company and its
subsidiaries taken as a whole to any person (as such term is used in Section
13(d) of the Exchange Act) other than the Company or one of its subsidiaries;
(2) the consummation of any transaction (including, without limitation, any
merger or consolidation) the result of which is that any person (as such term
is used in Section 13(d) of the Exchange Act) becomes the beneficial owner,
directly or indirectly, of more than 50% of the then outstanding number of
shares of the Company’s voting stock; or (3) the first day on which a majority
of the members of the Company’s Board of Directors are not Continuing
Directors.

 

                “Change of Control
Triggering Event” means the occurrence of both a Change of Control and a Below
Investment Grade Rating Event.

 

                “Continuing
Directors” means, as of any date of determination, any member of the Company
who (1) was a member of such Board of Directors on the date of the issuance of
this Security; or (2) was nominated for election or elected to such Board of
Directors with the approval of a majority of the Continuing Directors who the
were members of such Board of Directors at the time of such nomination or
election (either by a specific vote or by approval of the Company’s proxy
statement in which such member was named as a nominee for election as a director,
without objection to such nomination).

 

                “Investment Grade
Rating” means a rating equal to or higher than Baa3 (or the equivalent) by
Moody’s and BBB- (or the equivalent) by S&P.

 

                “Moody’s” means
Moody’s Investors Service, Inc.

 

                “Rating Agencies”
means (1) each of Moody’s and S&P; and (2) if either of Moody’s or S&P
ceases to rate this Security or fails to make a rating of this Security
publicly available for reasons outside of the Company’s control, a “nationally
recognized statistical rating organization” within the meaning of Rule
15c3-1(c)(2)(vi)(F) under the Exchange Act, selected by the Company (as
certified by a resolution of the Company’s Board of Directors) as a replacement
agency for Moody’s or S&P, or both of them, as the case may be.

 

 

9

 

                “S&P”
means Standard and Poor’s Ratings Services, a division of The McGraw-Hill
Companies, Inc.

                Section 6.  Discount
Securities.  If this Security (such a
Security being referred to as a “Discount Security”) (a) has been issued
at an Original Issue Price lower, by more than a de minimis amount (as
determined under United States federal income tax rules applicable to
original issue discount instruments), than the stated redemption price at
maturity (as defined below) hereof and (b) would be considered an original
issue discount security for United States federal income tax purposes, then the
amount payable on this Security in the event of redemption by the Company,
repayment at the option of the Holder or acceleration of the maturity hereof,
in lieu of the principal amount due at the Stated Maturity Date hereof, shall
be the Amortized Face Amount (as defined below) of this Security as of the date
of such redemption, repayment or acceleration. The “Amortized Face Amount” of
this Security shall be the amount equal to the sum of (a) the Issue Price
(as set forth on the face hereof) plus (b) the aggregate of the portions
of the original issue discount (the excess of the amounts considered as part of
the “stated redemption price at maturity” of this Security within the meaning
of Section 1273(a)(2) of the Internal Revenue Code of 1986, as
amended (the “Code”), whether denominated as principal or interest, over the
Issue Price of this Security) which shall theretofore have accrued pursuant to
Section 1272 of the Code (without regard to
Section 1272(a)(7) of the Code) from the date of issue of this
Security to the date of determination, minus (c) any amount considered as
part of the “stated redemption price at maturity” of this Security which has
been paid on this Security from the date of issue to the date of determination.

                Section 7.  Modification
and Waivers; Obligation of the Company Absolute.  The Indenture permits, with certain
exceptions as therein provided, the amendment thereof and the modification of
the rights and obligations of the Company and the rights of the Holders of the
Securities of each series. Such amendment may be effected under the Indenture
at any time by the Company and the Trustee with the consent of the Holders of
not less than a majority in principal amount of Outstanding Securities of each
series affected thereby. The Indenture also contains provisions permitting the
Holders of not less than a majority in principal amount of the Outstanding
Securities of any series, on behalf of the Holders of all Outstanding
Securities of such series, to waive compliance by the Company with certain
provisions of the Indenture. Provisions in the Indenture also permit the
Holders of not less than a majority in principal amount of all Outstanding
Securities of any series to waive on behalf of all of the Holders of Securities
of such series certain past defaults under the Indenture and their
consequences. Any such consent or waiver shall be conclusive and binding upon
the Holder of this Security and upon all future Holders of this Security and of
any Security issued upon the registration of transfer hereof or in exchange
herefor or in lieu hereof, whether or not notation of such consent or waiver is
made upon this Security.

 

                The Securities are
unsecured and rank pari passu with all other unsecured and unsubordinated
indebtedness of the Company.

 

                No
reference herein to the Indenture and no provision of this Security or of the
Indenture shall alter or impair the obligation of the Company, which is
absolute and unconditional, to pay the principal of (and premium, if any) and
interest, if any, on this Security at the times, place and rate, and in the
Specified Currency herein prescribed, except as set forth in Section 2
hereof.

                Section 8.  Defeasance
and Covenant Defeasance.  The Indenture
contains provisions for defeasance at any time of (a) the entire
indebtedness of the Company on this Security and (b) certain restrictive
covenants and the related defaults and Events of Default, upon compliance by
the Company with certain conditions set forth therein, which provisions apply
to this Security, unless otherwise specified on the face hereof.

                Section 9.  Minimum
Denomination; Authorized Denominations. 
Unless otherwise provided on the face hereof, this Security is issuable
only in registered form without coupons in denominations of $2,000 or any
amount in excess thereof which is an integral multiple of $1,000. If this
Security is denominated in a Specified Currency other than U.S. dollars or is a
Discount Security, this Security shall be issuable in the denominations set
forth on the face hereof.

                Section 10.  Registration
of Transfer.  As provided in the
Indenture and subject to certain limitations herein and therein set forth, the
transfer of this Security is registrable in the Security Register upon
surrender of this Security for registration of transfer at a Place of Payment
for the series of Securities of which this Security forms a part, duly endorsed
by, or accompanied by a written instrument of transfer in form satisfactory to
the Company and the Security Registrar duly executed by, the Holder hereof or
his attorney duly authorized in writing, and thereupon one or more new
Securities of this series, of like authorized denominations and for the same
aggregate principal amount, will be issued to the designated transferee or
transferees.

 

                If the registered
owner of this Security is the Depository (such a Security being referred to as
a “Global Security”), and (i) the Depository is at any time unwilling or
unable to continue as depository and a successor depository is not appointed by
the Company within 90 days following notice to the Company or (ii) an
Event of Default occurs, the Company will issue Securities in certificated form
in exchange for this Global Security. In addition, the Company may at any time,
and in its sole discretion,

 

 

10

 

determine not to have Securities represented by a Global Security and,
in such event, will issue Securities in certificated form in exchange in whole
for this Global Security. In any exchange pursuant to this paragraph, the
Company will execute, and the Trustee, upon receipt of a Company Order for the
authentication and delivery of individual Securities of this series in exchange
for this Global Security, will authenticate and deliver individual Securities
of this series in certificated form in an aggregate principal amount equal to
the principal amount of this Global Security in exchange herefor. Securities
issued in exchange for this Global Security pursuant to this paragraph shall be
registered in such names and in such authorized denominations as the
Depository, pursuant to instructions from its direct or indirect participants or
otherwise, shall instruct the Trustee. None of the Company, the Trustee, any
Paying Agent or the Security Registrar will have any responsibility or
liability for any aspect of the records relating to or payments made on account
of beneficial ownership interests in this Global Security or for maintaining,
supervising or reviewing any records relating to such beneficial ownership
interests. For purposes of the Indenture, this Global Security constitutes a
Security issued in permanent global form. Securities so issued in certificated
form will be issued in denominations of $2,000 (or such other denomination as
shall be specified on the face hereof) or any amount in excess thereof which is
an integral multiple of $1,000 and will be issued in registered form only,
without coupons.

 

                As provided in the
Indenture and subject to certain limitations therein and herein set forth, this
Security is exchangeable for a like aggregate principal amount of Securities of
this series of different authorized denominations but otherwise having the same
terms and conditions, as requested by the Holder hereof surrendering the same.

 

                No service charge
shall be made for any such registration of transfer or exchange, but the
Company may require payment of a sum sufficient to cover any tax or other
governmental charge payable in connection therewith.

 

                Prior to due
presentment of this Security for registration of transfer, the Company, the
Trustee and any agent of the Company or the Trustee may treat the Holder as the
owner hereof for all purposes, whether or not this Security be overdue, and
none of the Company, the Trustee nor any such agent shall be affected by notice
to the contrary.

                Section 11.  Events
of Default.  If an Event of Default with
respect to the Securities of the series of which this Security forms a part
shall have occurred and be continuing, the principal of this Security may be
declared due and payable in the manner and with the effect provided in the
Indenture.

                Section 12.  Defined
Terms.  All terms used in this Security
which are defined in the Indenture and are not otherwise defined herein shall
have the meanings assigned to them in the Indenture.

                Section 13.  Governing
Law.  Unless otherwise specified on the
face hereof, this Security shall be governed by and construed in accordance
with the law of the State of New York.

 

* * * * *

 

11

 

ABBREVIATIONS

 

                The following
abbreviations, when used in the inscription on the face of this instrument,
shall be construed as though they were written out in full according to
applicable laws or regulations:

 

	
  TEN COM

  	
   

  	
  —

  	
   

  	
  as tenants in common

  
	
  TEN ENT

  	
   

  	
  —

  	
   

  	
  as tenants by the
  entireties

  
	
  JT TEN

  	
   

  	
  —

  	
   

  	
  as joint tenants with
  right of survivorship and not as tenants in common

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  UNIF GIFT MIN ACT

  	
   

  	
  —

  	
   

  	
  CUSTODIAN

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  (Cust.)                (Minor)

  UNDER UNIFORM GIFTS TO MINORS ACT

  
	
   

  	
   

  	
  (State)

  

 

Additional abbreviations may also be used though not in the above list.

 

FOR VALUE RECEIVED, the undersigned

hereby sell(s), assign(s) and transfer(s)
unto

 

	
   

  	
  PLEASE INSERT SOCIAL SECURITY OR

  	
   

  
	
   

  	
  OTHER 

  	
   

  
	
   

  	
  IDENTIFYING NUMBER OF ASSIGNEE

  	
   

  
	
   

  	
   

  	
   

  
	 
	
   

  	 

	 
	
  Please
  print or type name and address, including zip code of assignee 

  	 

	 
	
  the
  within Security of McCORMICK & COMPANY, INCORPORATED and all rights
  thereunder and does hereby irrevocably constitute and appoint 

  	 

	 
	
  Attorney to transfer the
  said Security on the books of  the
  within-named Company, with full power of substitution in the premises. 

  	 

					

 

Dated

 

	
  SIGNATURE GUARANTEED:

  	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  NOTICE: The signature to this assignment must correspond with the
  name as it appears upon the face of the Security in every particular, without
  alteration or enlargement or any change whatsoever.

  

 

 

12Exhibit
10.1

 

AGREEMENT AND
GENERAL RELEASE

 

Orbitz
Worldwide, Inc. (“Orbitz Worldwide”) and  Orbitz, L.L.C.
(collectively with their subsidiaries, the “Company”) and Bahman Koohestani
(hereinafter collectively with his heirs, executors, administrators, successors
and assigns, “EXECUTIVE”), mutually desire to enter into this Agreement and
General Release (“Agreement” or “Agreement and General Release”) and agree
that:

 

The terms of this Agreement are the products of
mutual negotiation and compromise between EXECUTIVE and the Company; and

 

The meaning, effect and terms of this Agreement have
been fully explained to EXECUTIVE; and

 

EXECUTIVE is hereby advised, in writing, by the
Company that he should consult with an attorney prior to executing this
Agreement; and

 

EXECUTIVE is being afforded at twenty-one (21) days
from his Last Day of Employment to consider the meaning and effect of this
Agreement; and EXECUTIVE may execute this Agreement after the Last Day
of Employment but may  not execute it more than twenty-one (21)
days after the Last Day of Employment; and

 

EXECUTIVE understands and acknowledges that, if he
executes this Agreement before the Last Day of Employment, it shall be null and
void and of no effect; and

 

EXECUTIVE understands that he may revoke this
Agreement for a period of seven (7) calendar days following the day he executes
this Agreement and this Agreement shall not become effective or enforceable
until the revocation period has expired, and no revocation has occurred (“the
Effective Date”). Any revocation within this period must be submitted,
in writing, to the Company’s Human Resources Department and state, “I hereby
revoke my acceptance of your Agreement and General Release.”  Said revocation must be personally delivered
to the Company’s Human Resources Department, or mailed to the Company’s Human
Resources Department and postmarked within seven (7) calendar days of execution
of this Agreement; and

 

EXECUTIVE has carefully considered other
alternatives to executing this Agreement and General Release.

 

THEREFORE, EXECUTIVE and the Company, for the full
and sufficient consideration set forth below, agree as follows:

 

1.             EXECUTIVE’S
Last Date of Employment shall be December 7, 2007 and EXECUTIVE shall receive
all wages earned through his Last Date of Employment, less applicable taxes,
withholding and other lawful deductions. Other than as set forth below,
EXECUTIVE shall not be eligible for any other payments from the Company.

 

 

2.             In
consideration for the execution by EXECUTIVE of this Agreement and compliance
with the promises made in this Agreement, pursuant to the letter agreement
between EXECUTIVE and the Company (“the Letter Agreement”) that EXECUTIVE
signed on August 13, 2007, the Company agrees:

 

a.               to pay EXECUTIVE consideration in a lump sum
amount of three hundred twenty-five thousand dollars and no cents
($325,000.00), subject to applicable taxes, withholding and deductions. This
amount represents one year of EXECUTIVE’s current base annual salary and is
paid pursuant to the first bullet on page two of the Letter Agreement.

 

b.              to pay EXECUTIVE consideration in a lump sum
amount of two hundred forty-three thousand seven hundred fifty dollars and no
cents ($243,750.00), subject to applicable taxes, withholding and deductions. This
amount represents an amount equal to EXECUTIVE’s current annual target bonus
and is paid pursuant to the second bullet on page two of the Letter Agreement.

 

c.               to pay EXECUTIVE consideration in a lump sum
amount of one hundred four thousand four hundred sixty-one dollars and
sixty-four cents ($104,461.64), subject to applicable taxes, withholding and
deductions. This amount represents an amount equal to EXECUTIVE’s prorated
target bonus for the second half of 2007 and is paid pursuant to the third
bullet on page two of the Letter Agreement.

 

d.              to continue EXECUTIVE’s health plan coverage
through the end of the month in which his last date of employment occurs. Thereafter,
EXECUTIVE will be eligible to continue health plan coverage pursuant to the
terms of the Consolidated Omnibus Budget Reconciliation Act (“COBRA”). If
EXECUTIVE elects to continue health plan coverage pursuant to COBRA, the
Company will subsidize his COBRA payments for the first twelve (12)  months so that EXECUTIVE will pay the same monthly premiums
as active employees for the same coverage; provided, however, that if EXECUTIVE
is eligible for another group health plan coverage prior to the end of this
period, the Company shall not be responsible for any further payments;
provided, further, however, that the Company may, in its sole discretion,
provide EXECUTIVE with a lump sum payment in lieu of providing a COBRA subsidy.
Thereafter, EXECUTIVE will be responsible for the full payment of any COBRA
premiums through the remainder of his eligibility.

 

2

 

e.               to pay EXECUTIVE consideration in a lump sum
amount that, after applicable taxes, withholding and deductions, equals
thirty-seven thousand five hundred dollars and no cents, in lieu of any
relocation benefits following EXECUTIVE’s Last Date of Employment. In addition,
the Company shall continue EXECUTIVE’s relocation benefits through his Last
Date of Employment. For the avoidance of doubt, any expenses or costs related
to EXECUTIVE’s relocation and incurred after his Last Date of Employment are
the sole and complete responsibility of EXECUTIVE, not the Company.

 

f.                 to
provide EXECUTIVE with
outplacement benefits pursuant to Company policy.

 

g.              to provide EXECUTIVE with vesting of any
equity-based awards held by EXECUTIVE with respect to Orbitz Worldwide, Inc.
as, and to the extent, described in the definitive documentation related to
such awards.

 

h.              to
provide EXECUTIVE with a neutral reference to any entity other than the
Released Parties. Upon inquiry to the Human Resources department, prospective
employers (other than the Released Parties) will be advised only as to the
dates of EXECUTIVE’s employment and his most recent job title. Last salary will
be provided if EXECUTIVE has provided a written release for the same.

 

The
payments herein will be made as soon as reasonably practicable once this
Agreement has taken effect, but in no case more than sixty (60) days after
EXECUTIVE’s Last Date of Employment. This Agreement is intended to comply with
the requirements of Section 409A of the Internal Revenue Code (“Section 409A”)
and regulations promulgated thereunder.  To the extent that any provision
in this agreement is ambiguous as to its compliance with Section 409A, the
provision shall be read in such a manner so that all payments under this
agreement shall not incur an “additional tax” within the meaning of Section
409A(a)(1)(B) of the Code.

 

3.             EXECUTIVE
is obligated to pay any local, state or federal taxes that may become due and
owing on the payments and benefits provided under this Agreement and in this
regard agrees to hold the Company, their current and former parents, and their
shareholders, affiliates, subsidiaries, divisions, predecessors, successors and
assigns and the employees, officers, directors, advisors and agents thereof
(collectively referred to throughout this Agreement as the “Released Parties”,
or a “Released Party”) harmless for any taxes, interest or penalties deemed by
the government as due thereon from the Company or from him.

 

4.             EXECUTIVE
understands and agrees that he would not receive the monies and/or benefits
specified in paragraph 2 above, except for his execution of this Agreement, and
the fulfillment of the promises contained herein, and that such consideration
is greater than any amount to which he would otherwise be entitled as an
employee of the Company.

 

5.             Except as otherwise expressly provided by this Agreement
or the right to enforce the terms of this Agreement, EXECUTIVE, of his own free
will knowingly and voluntarily releases and forever discharges the Released
Parties, of and from any and all actions or causes of action,

 

3

 

suits,
claims, charges, complaints, promises demands and contracts (whether oral or
written, express or implied from any source), or any nature whatsoever, known
or unknown, suspected or unsuspected, which against the Released Parties
EXECUTIVE or EXECUTIVE’S heirs, executors, administrators, successors or
assigns ever had, now have or hereafter can shall or may have by reason of any
matter, cause or thing whatsoever arising any time prior to the time EXECUTIVE
executes this Agreement, including, but not limited to:

 

a.               any and all matters arising
out of EXECUTIVE’s employment by the Company or any of the Released Parties and
the termination of that employment, and that includes but is not limited to any
claims for salary, allegedly unpaid wages, bonuses, commissions, retention pay,
severance pay, vacation pay, or any alleged violation of the National Labor
Relations Act, any claims for discrimination of any kind under the Age
Discrimination in Employment Act of 1967 as amended by the Older Workers
Benefit Protection Act, Title VII of the Civil Rights Act of 1964, Sections
1981 through 1988 of Title 42 of the United States Code, any claims under the
Employee Retirement Income Security Act of 1974 (except for vested benefits
which are not affected by this Agreement), the Americans With Disabilities Act
of 1990, the Fair Labor Standards Act (to the extent such claims can be
released), the Occupational Safety and Health Act, the Consolidated Omnibus
Budget Reconciliation Act of 1985, the Federal Family and Medical Leave Act (to
the extent such claims can be released);

 

b.              Illinois Human Rights Act;
Minimum Wage Law; Equal Wage Act; Equal Pay Act of 2003; Wages for Women and
Minors Act; Religious Freedom Restoration Act Statutory Provision Regarding
Retaliation/Discrimination for Filing a Worker’s Compensation Claim; Equal Pay
Laws; School Visitation Rights Act; AIDS Confidentiality Act; Right to Privacy
Law; Genetic Information Privacy Act; the Cook County Human Rights Ordinance;
the Chicago Human Rights Ordinance, as amended; 
and

 

c.               any other federal, state or
local civil or human rights law, or any other alleged violation of any local,
state or federal law, regulation or ordinance, and/or public policy, implied or
expressed contract, fraud, negligence, estoppel, defamation, infliction of
emotional distress or other tort or common-law claim having any bearing
whatsoever on the terms and conditions and/or termination of his employment
with the Company including, but not limited to, any statutes or claims
providing for the award of costs, fees, or other expenses, including reasonable
attorneys’ fees, incurred in these matters.

 

Nothing
in the general release of claims in this paragraph 5 shall affect any vested
equity granted to EXECUTIVE under the Orbitz Worldwide, Inc. 2007 Equity and
Incentive Plan (“the Orbitz Plan”) and any vested equity granted to EXECUTIVE
under the TDS Investor (Cayman) L.P. 2006 Interest Plan (“the Travelport Plan”)
and the award agreements issued under the Orbitz Plan and the Travelport Plan.

 

6.             EXECUTIVE
also acknowledges that he does not have any current charge, claim or lawsuit
against one or more of the Released Parties pending before any local, state or
federal agency or court regarding his employment and his separation from
employment. EXECUTIVE understands that nothing in this release prevents him
from filing a charge or complaint with or

 

4

 

from
participating in an investigation or proceeding conducted by the Equal
Employment Opportunity Commission (“EEOC”) or any other federal, state or local
agency charged with the enforcement of any employment or labor laws, although
by signing this Agreement EXECUTIVE is giving up any right to monetary recovery
that is based on any of the claims he has released. EXECUTIVE also understands
that if he files such a charge or
complaint, he has, as part of this Agreement, waived the right to receive any
remuneration beyond what EXECUTIVE has received in this Agreement.

 

7.             EXECUTIVE
shall not seek or be entitled to any personal recovery, in any action or
proceeding that may be commenced on EXECUTIVE’s behalf in any way arising out
of or relating to the matters released under this Agreement.

 

8.             EXECUTIVE represents that he has
not and agrees that he will not in any way disparage the Company or any
Released Party, their current and former officers, directors and employees, or
make or solicit any comments, statements, or the like to the media or to others
that may be considered to be derogatory or detrimental to the good name or
business reputation of any of the aforementioned parties or entities.

 

9.             EXECUTIVE acknowledges that in
connection with his employment, EXECUTIVE has had access to information of a
nature not generally disclosed to the public. EXECUTIVE agrees to keep
confidential and not disclose to anyone, unless legally compelled to do so, Confidential
and Proprietary Information. “Confidential and Proprietary Information”
includes but is not limited to all Company or any Released Party’s business and
strategic plans, financial details, computer programs, manuals, contracts,
current and prospective client and supplier lists, and all other documentation,
business knowledge, data, material, property and supplier lists, and
developments owned, possessed or controlled by the Company or any Released
Party, regardless of whether possessed or developed by EXECUTIVE in the course
of his employment. Such Confidential and Proprietary Information may or may not
be formally designated as confidential or proprietary and may be oral, written
or electronic media. Regardless of any formal designation, EXECUTIVE understands
and agrees that the Confidential and Proprietary Information is subject to
protection under this Agreement. EXECUTIVE understands that such information is
owned and shall continue to be owned solely by the Released Parties. EXECUTIVE
agrees that he will not use or disclose, directly or indirectly, in whole or in
part, any Confidential and Proprietary Information. EXECUTIVE acknowledges that
he has complied and will continue to comply with this commitment, both as an
employee and after the termination of his employment. EXECUTIVE also
acknowledges his continuing obligations under the Orbitz Worldwide, Inc. Code
of Business Conduct and Ethics. Nothing in this provision is intended to or may
be construed to limit in any way the full protection of trade secrets or
confidential information under applicable law.

 

10.           EXECUTIVE understands that if this
Agreement were not signed, he would have the right to voluntarily assist other
individuals or entities in bringing claims against Released Parties. EXECUTIVE
hereby waives that right and agrees that he will not provide any such
assistance other than assistance in an investigation or proceeding conducted by
the United States Equal Employment Opportunity Commission or other federal,
state or local agency, or pursuant to a valid subpoena or court order. EXECUTIVE
agrees that if such a request for assistance if by any agency of the federal,
state or local government, or pursuant to a valid subpoena or court order, he
shall advise the Company in writing of such a request no later than three (3)
days after receipt of such request.

 

5

 

11.           EXECUTIVE
acknowledges and confirms that he has returned all company property to the
Company, including his identification card, and computer hardware and software,
all paper or computer based files, business documents, and/or other records as
well as all copies thereof, credit cards, keys and any other Company supplies
or equipment in his possession. In addition, any business related expenses for
which he seeks reimbursement have been documented and submitted to the Company.
Finally, any amounts owed to the Company have been paid.

 

12.           a.             For
a twelve (12) month period following the date he ceases to be employed by the
Company (the “Restricted Period”), i.e. December
7, 2008, EXECUTIVE shall not use his status with the Company to obtain loans,
goods or services from another organization on terms that would not be
available to him in the absence of his relationship to the Company.

 

b.             During the Restricted Period,
EXECUTIVE shall not make any statements or perform any acts intended to or
which may have the effect of advancing the interest of any Competitors of the
Company or in any way injuring the interests of the Company and the Company
shall not make or authorize any person to make any statement that would in any
way injure the personal or business reputation or interests of EXECUTIVE;
provided however, that, nothing herein shall preclude the Company or EXECUTIVE
from giving truthful testimony under oath in response to a subpoena or other
lawful process or truthful answers in response to questions from a government
investigation; provided, further, however, that nothing herein shall prohibit
the Company from disclosing the fact of any termination of EXECUTIVE’s
employment or the circumstances for such a termination. For purposes of this
Agreement, the term “Competitor” means any enterprise or business that is
engaged in, or has plans to engage in, at any time during the Restricted Period,
any activity that competes with the businesses conducted during or at the
termination of EXECUTIVE’s employment, or then proposed to be conducted, by the
Company in a manner that is or would be material in relation to the businesses
of the Company or the prospects for the businesses of the Company (in each
case, within 100 miles of any geographical area where the Company manufactures,
produces, sells, leases, rents, licenses or otherwise provides its products or
services). During the Restricted Period, EXECUTIVE, without prior express
written approval by the Orbitz Worldwide, Inc. Board of Directors (“the Board
of Directors”), shall not (A) engage in, or directly or indirectly (whether for
compensation or otherwise) manage, operate, or control, or join or participate
in the management, operation or control of a Competitor, in any capacity
(whether as an employee, officer, director, partner, consultant, agent,
advisor, or otherwise) or (B) develop, expand or promote, or assist in the
development, expansion or promotion of, any division of an enterprise or the
business intended to become a Competitor at any time after the end of the
Restricted Period or (C) own or hold a Proprietary Interest in, or directly
furnish any capital to, any Competitor of the Company. EXECUTIVE acknowledges
that the Company’s businesses are conducted nationally and internationally and
agree that the provisions in the foregoing sentence shall operate throughout
the United States and the world (subject to the definition of “Competitor”).

 

c.             During the Restricted Period,
EXECUTIVE, without express prior written approval from the Board of Directors,
shall not solicit any members or the then current clients of the

 

6

 

Company for any
existing business of the Company or discuss with any employee of the Company
information or operations of any business intended to compete with the Company.

 

d.             During the Restricted Period,
EXECUTIVE shall not interfere with the employees or affairs of the Company or
solicit or induce any person who is an employee of the Company to terminate any
relationship such person may have with the Company, nor shall EXECUTIVE during
such period directly or indirectly engage, employ or compensate, or cause or
permit any person with which he may be affiliated, to engage, employ or
compensate, any employee of the Company.

 

e.             For the purposes of this Agreement,
“Proprietary Interest” means any legal, equitable or other ownership, whether
through stock holding or otherwise, of an interest in a business, firm or
entity; provided, that ownership of less than 5% of any class of equity
interest in a publicly held company shall not be deemed a Proprietary Interest.

 

f.              The period of time during which
the provisions of this section shall be in effect shall be extended by the
length of time during which EXECUTIVE is in breach of the terms hereof as
determined by any court of competent jurisdiction on the Company’s application
for injunctive relief.

 

g.             EXECUTIVE agrees that the restrictions contained in this
section are an essential element of the payments and benefits he is granted
hereunder and but for his agreement to comply with such restrictions, the
Company would not have entered into this Agreement.

 

h.             It is expressly understood and agreed that although
EXECUTIVE and the Company consider the restrictions contained in this section
to be reasonable, if a final judicial determination is made by a court of
competent jurisdiction that the time or territory or any other restriction contained
in this Agreement is an unenforceable restriction against EXECUTIVE, the
provisions of this Agreement shall not be rendered void but shall be deemed
amended to apply as to such maximum time and territory and to such maximum
extent as such court may judicially determine or indicate to be enforceable. Alternatively,
if any court of competent jurisdiction finds that any restriction contained in
this Agreement is unenforceable, and such restriction cannot be amended so as
to make it enforceable, such finding shall not affect the enforceability of any
of the other restrictions contained herein.

 

i.              EXECUTIVE acknowledges and agrees
that the Company’s remedies at law for a breach or threatened breach of any of
the provisions of this section would be inadequate and the Company would
suffer irreparable damages as a result of such breach or threatened breach. In
recognition of this fact, EXECUTIVE agrees that, in the event of such a breach
or threatened breach, in addition to any remedies at law, the Company, without
posting any bond, shall be entitled to cease making any payments or providing
any benefit otherwise required by this agreement and obtain equitable relief in
the form of specific performance, temporary restraining order, temporary or
permanent injunction or any other equitable remedy which may then be available.
Without limiting the generality of the foregoing, neither party shall oppose
any motion the other party may make for any expedited discovery or hearing in
connection with any alleged breach of this paragraph 12.

 

7

 

13.           This
Agreement is made in the State of Illinois and shall be interpreted under the
laws of said State. Its language shall be construed as a whole, according to
its fair meaning, and not strictly for or against either party. Should any
provision of this Agreement be declared illegal or unenforceable by any court
of competent jurisdiction and cannot be modified to be enforceable, including
the general release language, such provision shall immediately become null and
void, leaving the remainder of this in full force and effect. However, if as a
result of any action initiated by EXECUTIVE, any portion of the general release
language were ruled to be unenforceable for any reason, EXECUTIVE shall return
the payments and benefits paid under this Agreement to the Company.

 

14.           EXECUTIVE
agrees that neither this Agreement nor the furnishing of the consideration for
this Agreement shall be deemed or construed at any time for any purpose as an admission
by the Company of any liability or unlawful conduct of any kind, all of which
the Company denies.

 

15.           This Agreement may not be modified, altered or changed
except upon express written consent of both parties wherein specific reference
is made to this Agreement.

 

16.           This
Agreement sets forth the entire agreement between the parties hereto, and fully
supersedes any prior agreements or understandings between the parties, with the
exception of any non-compete, non-solicit or confidentiality agreement between
EXECUTIVE and the Company or one of their affiliates, which agreement(s) shall
survive the termination of EXECUTIVE’s employment in accordance with its own
terms.

 

17.           EXECUTIVE agrees to cooperate with
and make himself readily available to Orbitz Worldwide and its General Counsel,
as the Company may reasonably request, to assist it in any matter regarding the
Company or their affiliates, subsidiaries, and predecessors, including giving
truthful testimony in any litigation or potential litigation involving the
Company and their affiliates, subsidiaries, and their predecessors, over which
EXECUTIVE has knowledge or information. The Company will reimburse EXECUTIVE
for any and all reasonable expenses reasonably incurred in connection with
EXECUTIVE’s compliance with this paragraph.

 

18.           In
consideration for the payments and benefits provided to EXECUTIVE under this
Agreement, EXECUTIVE warrants and affirms to the Company that he has at all
times conducted himself as a fiduciary of, and with sole regard to that which
is in best interests of, Orbitz Worldwide and its affiliates and their
predecessors. He affirms that in conducting business for Orbitz Worldwide and
its affiliates and their predecessors, he has done so free from the influence
of any conflicting personal or professional interests, without favor for or
regard of personal considerations, and that he has not in any way violated the
Orbitz Worldwide Code of Business Conduct and Ethics, the Business Ethics
policy or any other of the Core Policies. Toward that end, EXECUTIVE
understands that this affirmation is a material provision of this Agreement,
and, should the Company determine that EXECUTIVE has engaged in business
practices inconsistent with the affirmation set forth herein then EXECUTIVE agrees
that he shall have committed a material breach of this Agreement, and any
payments and benefits provided to EXECUTIVE under this Agreement shall not have
been earned. In that case, EXECUTIVE shall be liable for the return of all
payments and benefits made to him or on his behalf under this Agreement.

 

8

 

19.           At
the same time EXECUTIVE executes this Agreement, EXECUTIVE agrees to execute
and return with this Agreement the attached resignation letter concerning his
appointment as director, officer, and/or any other position of responsibility
requiring notification to a public registrar, or regulatory or governing body.

 

THE PARTIES HAVE READ AND FULLY CONSIDERED THIS
AGREEMENT AND GENERAL RELEASE AND ARE MUTUALLY DESIROUS OF ENTERING INTO SUCH
AGREEMENT AND GENERAL RELEASE. EXECUTIVE UNDERSTANDS THAT THIS DOCUMENT
SETTLES, BARS AND WAIVES ANY AND ALL CLAIMS HE 
HAD OR MIGHT HAVE AGAINST THE COMPANY; AND HE ACKNOWLEDGES THAT HE IS
NOT RELYING ON ANY OTHER REPRESENTATIONS, WRITTEN OR ORAL, NOT SET FORTH IN
THIS DOCUMENT. HAVING ELECTED TO EXECUTE THIS AGREEMENT AND GENERAL RELEASE, TO
FULFILL THE PROMISES SET FORTH HEREIN, AND TO RECEIVE THEREBY THE SUMS AND
BENEFITS SET FORTH IN PARAGRAPH 2 ABOVE, EXECUTIVE FREELY AND KNOWINGLY, AND
AFTER DUE CONSIDERATION, ENTERS INTO THIS AGREEMENT AND GENERAL RELEASE. IF
THIS DOCUMENT IS RETURNED EARLIER THAN 21 DAYS FROM THE LAST DATE OF
EMPLOYMENT, THEN EXECUTIVE ADDITIONALLY
ACKNOWLEDGES AND WARRANTS THAT HE HAS VOLUNTARILY AND KNOWINGLY WAIVED THE 21
DAY REVIEW PERIOD, AND THIS DECISION TO ACCEPT A SHORTENED PERIOD OF TIME IS
NOT INDUCED BY THE COMPANY THROUGH FRAUD, MISREPRESENTATION, A THREAT TO
WITHDRAW OR ALTER THE OFFER PRIOR TO THE EXPIRATION OF THE 21 DAYS, OR BY PROVIDING
DIFFERENT TERMS TO EMPLOYEES WHO SIGN RELEASES PRIOR TO THE EXPIRATION OF SUCH
TIME PERIOD.

 

9

 

THEREFORE, the parties to this Agreement and General
Release now voluntarily and knowingly execute this Agreement.

 

	
   

  	
   

  	
   

  	
  EXECUTIVE

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  /s/ Bahman Koohestani

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  BAHMAN KOOHESTANI

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Signed and sworn before me

  	
   

  	
   

  	
   

  	
   

  
	
  this 7th day of December, 2007.

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Chennin
  Kenyon

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Notary Public

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ORBITZ WORLDWIDE, INC.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Katherine Andreasen

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  K. Andreasen 

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  SVP, HR

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Signed and sworn to before me

  	
   

  	
   

  	
   

  	
   

  
	
  this 7th day of December, 2007.

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Chennin
  Kenyon

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Notary Public

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  ORBITZ, L.L.C.

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  /s/ Katherine Andreasen

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  Name:

  	
  K. Andreasen 

  	
   

  
	
   

  	
   

  	
   

  	
  Title:

  	
  SVP, HR

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Signed and sworn to before me

  	
   

  	
   

  	
   

  	
   

  
	
  this 7th day of December, 2007.

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  /s/ Chennin
  Kenyon

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Notary Public

  	
   

  	
   

  	
   

  	
   

  
												

 

10

 

To
the Board of Directors of

Orbitz
Worldwide, Inc.

500
West Madison

Chicago,
IL

 

In
connection with my employment within the Orbitz Worldwide, Inc. group of
companies which, for the avoidance of doubt means Orbitz Worldwide, Inc. and/or
its affiliates and subsidiaries (“Orbitz  Group”) and my appointment as director, officer, and/or any
other position of responsibility requiring notification to a public registrar,
or regulatory or governing body (“Executive Appointments”).

 

I
hereby resign from all and any Executive Appointments (as described above)
pertaining to my employment with the Orbitz Group with effect on my last day of
employment with the Orbitz  Group.

 

 

Sincerely,

 

 

	
  /s/
  Bahman Koohestani

  	
   

  
	
  Bahman
  Koohestani

  
	
   

  
	
   

  
	
  Date:
  12/07/07

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00133-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00133-of-00352.parquet"}]]