Document:

abwn_ex43.htm

EXHIBIT 4.3

 

WARRANT AGENCY AGREEMENT

 

WARRANT AGENCY AGREEMENT, dated as of April [  ], 2017 (“Agreement”), between Airborne Wireless Network, a Nevada corporation (the “Company”), and Columbia Stock Transfer Company, an Idaho corporation (the “Warrant Agent”).

 

WITNESSETH

 

WHEREAS, pursuant to a registered offering by the Company of shares of Series A Convertible Preferred Stock, par value $0.001 per share (the “Preferred Stock”) and warrants (the “Warrants”) to purchase shares of common stock, par value $0.001 (the “Common Stock”), pursuant to an effective registration statement on Form S-1 (File No. 333-220295), as amended (the “Registration Statement”), the Company wishes to issue Warrants in book entry form entitling the respective holders of the Warrants (the “Holders”, which term shall include a Holder’s transferees, successors and assigns and “Holder” shall include, if the Warrants are held in “street name”, a Participant (as defined below) or a designee appointed by such Participant) to purchase an aggregate of up to [  ] shares of Common Stock upon the terms and subject to the conditions hereinafter set forth (the “Offering”);

 

WHEREAS, the shares of Preferred Stock and Warrants to be issued in connection with the Offering shall be immediately separable and will be issued separately, but will be purchased together in the Offering; and

 

WHEREAS, the Company wishes the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, exercise and replacement of the Warrants and, in the Warrant Agent’s capacity as the Company’s transfer agent, the delivery of the Warrant Shares.

 

NOW, THEREFORE, in consideration of the premises and the mutual agreements herein set forth, the parties hereby agree as follows:

 

Section 1. Certain Definitions. For purposes of this Agreement, the following terms have the meanings indicated:

 

(a) “Affiliate” has the meaning ascribed to it in Rule 12b-2 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”).

 

(b) “Business Day” means any day except any Saturday, any Sunday, any day which is a federal legal holiday in the United States or any day on which the Nasdaq Stock Market is authorized or required by law or other governmental action to close.

 

(c) “Close of Business” on any given date means 5:00 p.m., New York City time, on such date; provided, however, that if such date is not a Business Day it means 5:00 p.m., New York City time, on the next succeeding Business Day.

 

(d) “Person” means an individual, corporation, association, partnership, limited liability company, joint venture, trust, unincorporated organization, government or political subdivision thereof or governmental agency or other entity.

 
	 
	1
	

 
	 

 

(e) “Warrant Certificate” means a certificate in substantially the form attached as Exhibit 1 hereto, representing such number of Warrant Shares as is indicated therein, provided that any reference to the delivery of a Warrant Certificate in this Agreement shall include delivery of notice from the Depositary or a Participant (each as defined below) of the transfer or exercise of Warrant in the form of a Global Warrant (as defined below).

 

(f) “Warrant Shares” means the shares of Common Stock underlying the Warrants and issuable upon exercise of the Warrants.

 

All other capitalized terms used but not otherwise defined herein shall have the meaning ascribed to such terms in the Warrant Certificate.

 

Section 2. Appointment of Warrant Agent. The Company hereby appoints the Warrant Agent to act as agent for the Company in accordance with the terms and conditions hereof, and the Warrant Agent hereby accepts such appointment. The Company may from time to time appoint a Co-Warrant Agent as it may, in its sole discretion, deem necessary or desirable. The Warrant Agent shall have no duty to supervise, and will in no event be liable for the acts or omissions of, any co-Warrant Agent.

 

Section 3. Global Warrants.

 

(a) The Warrants shall be issuable in book entry form (the “Global Warrants”). All of the Warrants shall initially be represented by one or more Global Warrants deposited with the Warrant Agent and registered in the name of Cede & Co., a nominee of The Depository Trust Company (the “Depositary”), or as otherwise directed by the Depositary. Ownership of beneficial interests in the Warrants shall be shown on, and the transfer of such ownership shall be effected through, records maintained by (i) the Depositary or its nominee for each Global Warrant or (ii) institutions that have accounts with the Depositary (such institution, with respect to a Warrant in its account, a “Participant”).

 

(b) If the Depositary subsequently ceases to make its book-entry settlement system available for the Warrants, the Company may instruct the Warrant Agent regarding other arrangements for book-entry settlement. In the event that the Warrants are not eligible for, or it is no longer necessary to have the Warrants available in, book-entry form, the Warrant Agent shall provide written instructions to the Depositary to deliver to the Warrant Agent for cancellation each Global Warrant, and the Company shall instruct the Warrant Agent to deliver to each Holder a Warrant Certificate.

	 
	2
	

 
	 

 

(c) A Holder has the right to elect at any time or from time to time a Warrant Exchange (as defined below) pursuant to a Warrant Certificate Request Notice (as defined below). Upon written notice by a Holder to the Warrant Agent for the exchange of some or all of such Holder’s Global Warrants for a Warrant Certificate evidencing the same number of Warrants, which request shall be in the form attached hereto as Annex A (a “Warrant Certificate Request Notice” and the date of delivery of such Warrant Certificate Request Notice by the Holder, the “Warrant Certificate Request Notice Date” and the deemed surrender upon delivery by the Holder of a number of Global Warrants for the same number of Warrants evidenced by a Warrant Certificate, a “Warrant Exchange”), the Warrant Agent and the Company shall promptly effect the Warrant Exchange by the Company promptly issuing and delivering and shall promptly issue and deliver to the Holder a Warrant Certificate for such number of Warrants in the name set forth in the Warrant Certificate Request Notice. Such Warrant Certificate shall be dated the original issue date of the Warrants, shall be manually executed by an authorized signatory of the Company, shall be in the form attached hereto as Exhibit 1. In connection with a Warrant Exchange, the Company agrees to deliver the Warrant Certificate to the Holder within three (3) Business Days of the Warrant Certificate Request Notice pursuant to the delivery instructions in the Warrant Certificate Request Notice (“Warrant Certificate Delivery Date”). If the Company fails for any reason to deliver to the Holder the Warrant Certificate subject to the Warrant Certificate Request Notice by the Warrant Certificate Delivery Date, the Company shall pay to the Holder, in cash, as liquidated damages and not as a penalty, for each $1,000 of Warrant Shares evidenced by such Warrant Certificate (based on the VWAP (as defined in the Warrants) of the Common Stock on the Warrant Certificate Request Notice Date), $10 per Business Day (increasing to $20 per Trading Day on the fifth Trading Day after such liquidated damages begin to accrue) for each Business Day after such Warrant Certificate Delivery Date until such Warrant Certificate is delivered or, prior to delivery of such Warrant Certificate, the Holder rescinds such Warrant Exchange. The Company covenants and agrees that, upon the date of delivery of the Warrant Certificate Request Notice, the Holder shall be deemed to be the holder of the Warrant Certificate and, notwithstanding anything to the contrary set forth herein, the Warrant Certificate shall be deemed for all purposes to contain all of the terms and conditions of the Warrants evidenced by such Warrant Certificate and the terms of this Agreement, other than Sections 3(c) and 9 herein, shall not apply to the Warrants evidenced by the Warrant Certificate.

 

Section 4. Form of Warrant Certificates. The Warrant Certificate, together with the form of election to purchase Common Stock (“Exercise Notice”) and the form of assignment to be printed on the reverse thereof, shall be in the form of Exhibit 1 hereto.

 

Section 5. Countersignature and Registration. The Warrant Certificates shall be executed on behalf of the Company by its Chief Executive Officer, Chief Financial Officer or Vice President, either manually or by facsimile signature. The Warrant Certificates shall be countersigned by the Warrant Agent either manually or by facsimile signature and shall not be valid for any purpose unless so countersigned. In case any officer of the Company who shall have signed any of the Warrant Certificates shall cease to be such officer of the Company before countersignature by the Warrant Agent and issuance and delivery by the Company, such Warrant Certificates, nevertheless, may be countersigned by the Warrant Agent, issued and delivered with the same force and effect as though the person who signed such Warrant Certificate had not ceased to be such officer of the Company; and any Warrant Certificate may be signed on behalf of the Company by any person who, at the actual date of the execution of such Warrant Certificate, shall be a proper officer of the Company to sign such Warrant Certificate, although at the date of the execution of this Warrant Agreement any such person was not such an officer.

 

The Warrant Agent will keep or cause to be kept, at one of its offices, or at the office of one of its agents, books for registration and transfer of the Warrant Certificates issued hereunder. Such books shall show the names and addresses of the respective Holders of the Warrant Certificates, the number of warrants evidenced on the face of each of such Warrant Certificate and the date of each of such Warrant Certificate. The Warrant Agent will create a special account for the issuance of Warrant Certificates.

 
	 
	3
	

 
	 

 

Section 6. Transfer, Split Up, Combination and Exchange of Warrant Certificates; Mutilated, Destroyed, Lost or Stolen Warrant Certificates. With respect to the Global Warrant, subject to the provisions of the Warrant Certificate and the last sentence of this first paragraph of Section 6 and subject to applicable law, rules or regulations, or any “stop transfer” instructions the Company may give to the Warrant Agent, at any time after the closing date of the Offering, and at or prior to the Close of Business on the Termination Date (as such term is hereinafter defined), any Warrant Certificate or Warrant Certificates or Global Warrant or Global Warrants may be transferred, split up, combined or exchanged for another Warrant Certificate or Warrant Certificates or Global Warrant or Global Warrants, entitling the Holder to purchase a like number of shares of Common Stock as the Warrant Certificate or Warrant Certificates or Global Warrant or Global Warrants surrendered then entitled such Holder to purchase. Any Holder desiring to transfer, split up, combine or exchange any Warrant Certificate or Global Warrant shall make such request in writing delivered to the Warrant Agent, and shall surrender the Warrant Certificate or Warrant Certificates to be transferred, split up, combined or exchanged at the principal office of the Warrant Agent, provided that no such surrender is applicable to the Holder of a Global Warrant. Any requested transfer of Warrants, whether in book-entry form or certificate form, shall be accompanied by reasonable evidence of authority of the party making such request that may be required by the Warrant Agent. Thereupon the Warrant Agent shall, subject to the last sentence of this first paragraph of Section 6, countersign and deliver to the Person entitled thereto a Warrant Certificate or Warrant Certificates, as the case may be, as so requested. The Company may require payment from the Holder of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer, split up, combination or exchange of Warrant Certificates. The Company shall compensate the Warrant Agent per the fee schedule mutually agreed upon by the parties hereto and provided separately on the date hereof.

 

Upon receipt by the Warrant Agent of evidence reasonably satisfactory to it of the loss, theft, destruction or mutilation of a Warrant Certificate, which evidence shall include an affidavit of loss, or in the case of mutilated certificates, the certificate or portion thereof remaining, and, in case of loss, theft or destruction, of indemnity in customary form and amount, and satisfaction of any other reasonable requirements established by Section 8-405 of the Uniform Commercial Code as in effect in the State of Nevada, and reimbursement to the Company and the Warrant Agent of all reasonable expenses incidental thereto, and upon surrender to the Warrant Agent and cancellation of the Warrant Certificate if mutilated, the Company will make and deliver a new Warrant Certificate of like tenor to the Warrant Agent for delivery to the Holder in lieu of the Warrant Certificate so lost, stolen, destroyed or mutilated.

 

Section 7. Exercise of Warrants; Exercise Price; Termination Date.

 

(a) The Warrants shall be exercisable commencing on the Initial Exercise Date. The Warrants shall cease to be exercisable and shall terminate and become void, and all rights thereunder and under this Agreement shall cease, at or prior to the Close of Business on the Termination Date. Subject to the foregoing and to Section 7(b) below, the Holder of a Warrant may exercise the Warrant in whole or in part upon surrender of the Warrant Certificate, if required, with the executed Exercise Notice and payment of the Exercise Price, which may be made, at the option of the Holder, by wire transfer or by certified or official bank check in United States dollars, to the Company at the principal office of the Company or to the office of one of its agents as may be designated by the Company from time to time. In the case of the Holder of a Global Warrant, the Holder shall deliver the executed Exercise Notice and the payment of the Exercise Price as described herein. Notwithstanding any other provision in this Agreement, a holder whose interest in a Global Warrant is a beneficial interest in a Global Warrant held in book-entry form through the Depositary (or another established clearing corporation performing similar functions), shall effect exercises by delivering to the Depositary (or such other clearing corporation, as applicable) the appropriate instruction form for exercise, complying with the procedures to effect exercise that are required by the Depositary (or such other clearing corporation, as applicable).

 

	 
	4
	

 
	 

 

(b) Upon receipt of an Exercise Notice for a Cashless Exercise, the Company will promptly calculate and transmit to the Warrant Agent the number of Warrant Shares issuable in connection with such Cashless Exercise and deliver a copy of the Exercise Notice to the Warrant Agent, which shall issue such number of Warrant Shares in connection with such Cashless Exercise.

 

(c) Upon the Warrant Agent’s receipt of a Warrant Certificate at or prior to the Close of Business on the Termination Date set forth in such Warrant Certificate, with the executed Exercise Notice, accompanied by payment of the Exercise Price for the shares to be purchased (other than in the case of a Cashless Exercise) and an amount equal to any applicable tax, governmental charge or expense reimbursement referred to in Section 6 in cash, or by certified check or bank draft payable to the order of the Company (or, in the case of the Holder of a Global Warrant, the delivery of the executed Exercise Notice and the payment of the Exercise Price (other than in the case of a Cashless Exercise) and any other applicable amounts as set forth herein), the Warrant Agent shall cause the Warrant Shares underlying such Warrant Certificate or Global Warrant to be delivered to or upon the order of the Holder of such Warrant Certificate or Global Warrant, registered in such name or names as may be designated by such Holder, no later than the Warrant Share Delivery Date. If the Company is then a participant in the DWAC system of the Depositary and either (A) there is an effective registration statement permitting the issuance of the Warrant Shares to or resale of the Warrant Shares by Holder or (B) the Warrant is being exercised via Cashless Exercise, then the certificates for Warrant Shares shall be transmitted by the Warrant Agent to the Holder by crediting the account of the Holder’s broker with the Depositary through its DWAC system. For the avoidance of doubt, if the Company becomes obligated to pay any amounts to any Holders pursuant to Section 2(d)(i) or 2(d)(iv) of the Warrant Certificate, such obligation shall be solely that of the Company and not that of the Warrant Agent. Notwithstanding anything else to the contrary in this Agreement, except in the case of a Cashless Exercise, if any Holder fails to duly deliver payment to the Warrant Agent of an amount equal to the aggregate Exercise Price of the Warrant Shares to be purchased upon exercise of such Holder’s Warrant as set forth in Section 7(a) hereof, the Warrant Agent will not obligated to deliver certificates representing any such Warrant Shares (via DWAC or otherwise) until following receipt of such payment, and the applicable Warrant Share Delivery Date shall be deemed extended by one day for each day (or part thereof) until such payment is delivered to the Warrant Agent.

 

(d) In case the Holder of any Warrant Certificate shall exercise fewer than all Warrants evidenced thereby, a new Warrant Certificate evidencing the number of Warrants equivalent to the number of Warrants remaining unexercised may be issued by the Warrant Agent to the Holder of such Warrant Certificate or to his duly authorized assigns in accordance with Section 2(d)(ii) of the Warrant Certificate, subject to the provisions of Section 6 hereof.

 
	 
	5
	

 
	 

 

Section 8. Cancellation and Destruction of Warrant Certificates. All Warrant Certificates surrendered for the purpose of exercise, transfer, split up, combination or exchange shall, if surrendered to the Company or to any of its agents, be delivered to the Warrant Agent for cancellation or in canceled form, or, if surrendered to the Warrant Agent, shall be canceled by it, and no Warrant Certificates shall be issued in lieu thereof except as expressly permitted by any of the provisions of this Agreement. The Company shall deliver to the Warrant Agent for cancellation and retirement, and the Warrant Agent shall so cancel and retire, any other Warrant Certificate purchased or acquired by the Company otherwise than upon the exercise thereof.

 

Section 9. Certain Representations; Reservation and Availability of Shares of Common Stock or Cash.

 

(a) This Agreement has been duly authorized, executed and delivered by the Company and, assuming due authorization, execution and delivery hereof by the Warrant Agent, constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, and the Warrants have been duly authorized, executed and issued by the Company and, assuming due authentication thereof by the Warrant Agent pursuant hereto and payment therefor by the Holders as provided in the Registration Statement, constitute valid and legally binding obligations of the Company enforceable against the Company in accordance with their terms and entitled to the benefits hereof; in each case except as enforceability may be limited by bankruptcy, insolvency, reorganization, moratorium and other similar laws relating to or affecting creditors’ rights generally or by general equitable principles (regardless of whether such enforceability is considered in a proceeding in equity or at law).

 

(b) As of April 9, 2018, the authorized capital stock of the Company consists of (i) 350,000,000 shares of Common Stock, of which 97,582,620 shares of Common Stock are issued and outstanding, and (ii) 10,000,000 shares of Preferred Stock, of which no shares are issued and outstanding. Except as disclosed in the Registration Statement, there are no other outstanding obligations, warrants, options or other rights to subscribe for or purchase from the Company any class of capital stock of the Company.

 

(c) The Company covenants and agrees that it will cause to be reserved and kept available out of its authorized and unissued shares of Common Stock or its authorized and issued shares of Common Stock held in its treasury, free from preemptive rights, the number of shares of Common Stock that will be sufficient to permit the exercise in full of all outstanding Warrants.

 

(d) The Warrant Agent will create a special reserve for the issuance of Common Stock upon the exercise of Warrants.

 

(e) The Company further covenants and agrees that it will pay when due and payable any and all federal and state transfer taxes and charges which may be payable in respect of the original issuance or delivery of the Warrant Certificates or certificates evidencing Common Stock upon exercise of the Warrants. The Company shall not, however, be required to pay any tax or governmental charge which may be payable in respect of any transfer involved in the transfer or delivery of Warrant Certificates or the issuance or delivery of certificates for Common Stock in a name other than that of the Holder of the Warrant Certificate evidencing Warrants surrendered for exercise or to issue or deliver any certificate for shares of Common Stock upon the exercise of any Warrants until any such tax or governmental charge shall have been paid (any such tax or governmental charge being payable by the Holder of such Warrant Certificate at the time of surrender) or until it has been established to the Company’s reasonable satisfaction that no such tax or governmental charge is due.

 
	 
	6
	

 
	 

 

Section 10. Common Stock Record Date. Each Person in whose name any certificate for shares of Common Stock is issued (or to whose broker’s account is credited shares of Common Stock through the DWAC system) upon the exercise of Warrants shall for all purposes be deemed to have become the holder of record for the Common Stock represented thereby on, and such certificate shall be dated, the date upon which the Warrant Certificate evidencing such Warrant was duly surrendered (but only if required herein) and payment of the Exercise Price (and any applicable transfer taxes) and submission of the Exercise Notice was made; provided, however, that if the date of such surrender (if applicable), payment and submission is a date upon which the Common Stock transfer books of the Company are closed, such Person shall be deemed to have become the record holder of such shares on, and such certificate shall be dated, the next succeeding day on which the Common Stock transfer books of the Company are open.

 

Section 11. Adjustment of Exercise Price, Number of Shares of Common Stock or Number of the Company Warrants. The Exercise Price, the number of shares covered by each Warrant and the number of Warrants outstanding are subject to adjustment from time to time as provided in Section 3 of the Warrant Certificate. In the event that at any time, as a result of an adjustment made pursuant to Section 3 of the Warrant Certificate, the Holder of any Warrant thereafter exercised shall become entitled to receive any shares of capital stock of the Company other than shares of Common Stock, thereafter the number of such other shares so receivable upon exercise of any Warrant shall be subject to adjustment from time to time in a manner and on terms as nearly equivalent as practicable to the provisions with respect to the shares contained in Section 3 of the Warrant Certificate, and the provisions of Sections 7, 9 and 13 of this Agreement with respect to the shares of Common Stock shall apply on like terms to any such other shares. All Warrants originally issued by the Company subsequent to any adjustment made to the Exercise Price pursuant to the Warrant Certificate shall evidence the right to purchase, at the adjusted Exercise Price, the number of shares of Common Stock purchasable from time to time hereunder upon exercise of the Warrants, all subject to further adjustment as provided herein.

 

Section 12. Certification of Adjusted Exercise Price or Number of Shares of Common Stock. Whenever the Exercise Price or the number of shares of Common Stock issuable upon the exercise of each Warrant is adjusted as provided in Section 11 or 13, the Company shall (a) promptly prepare a certificate setting forth the Exercise Price of each Warrant as so adjusted, and a brief statement of the facts accounting for such adjustment, (b) promptly file with the Warrant Agent and with each transfer agent for the Common Stock a copy of such certificate and (c) instruct the Warrant Agent to send a brief summary thereof to each Holder of a Warrant Certificate.

 

Section 13. Fractional Shares of Common Stock.

 

(a) The Company shall not issue fractions of Warrants or distribute Warrant Certificates which evidence fractional Warrants. Whenever any fractional Warrant would otherwise be required to be issued or distributed, the actual issuance or distribution shall reflect a rounding of such fraction to the nearest whole Warrant (rounded up).

 
	 
	7
	

 
	 

 

(b) The Company shall not issue fractions of shares of Common Stock upon exercise of Warrants or distribute stock certificates which evidence fractional shares of Common Stock. Whenever any fraction of a share of Common Stock would otherwise be required to be issued or distributed, the actual issuance or distribution in respect thereof shall be made in accordance with Section 2(d)(v) of the Warrant Certificate.

 

Section 14. Conditions of the Warrant Agent’s Obligations. The Warrant Agent accepts its obligations herein set forth upon the terms and conditions hereof, including the following to all of which the Company agrees and to all of which the rights hereunder of the Holders from time to time of the Warrant Certificates shall be subject:

 

	(a)	Compensation and Indemnification. The Company agrees promptly to pay the Warrant Agent the compensation detailed on Exhibit 2 hereto for all services rendered by the Warrant Agent and to reimburse the Warrant Agent for reasonable out-of-pocket expenses (including reasonable counsel fees) incurred without gross negligence, bad faith or willful misconduct by the Warrant Agent in connection with the services rendered hereunder by the Warrant Agent. The Company also agrees to indemnify the Warrant Agent for, and to hold it harmless against, any loss, liability or expense incurred without gross negligence, bad faith or willful misconduct on the part of the Warrant Agent, arising out of or in connection with its acting as Warrant Agent hereunder, including the reasonable costs and expenses of defending against any claim of such liability.
	
 
	
 

	(b)	Agent for the Company. In acting under this Warrant Agreement and in connection with the Warrant Certificates, the Warrant Agent is acting solely as agent of the Company and does not assume any obligations or relationship of agency or trust for or with any of the Holders of Warrant Certificates or beneficial owners of Warrants.
	
 
	
 

	(c)	Counsel. The Warrant Agent may consult with counsel satisfactory to it, which may include counsel for the Company, and the written advice of such counsel shall be full and complete authorization and protection in respect of any action taken, suffered or omitted by it hereunder in good faith and in accordance with the advice of such counsel.
	
 
	
 

	(d)	Documents. The Warrant Agent shall be protected and shall incur no liability for or in respect of any action taken or omitted by it in reliance upon any Warrant Certificate, notice, direction, consent, certificate, affidavit, statement or other paper or document reasonably believed by it to be genuine and to have been presented or signed by the proper parties.
	
 
	
 

	(e)	Certain Transactions. The Warrant Agent, and its officers, directors and employees, may become the owner of, or acquire any interest in, Warrants, with the same rights that it or they would have if it were not the Warrant Agent hereunder, and, to the extent permitted by applicable law, it or they may engage or be interested in any financial or other transaction with the Company and may act on, or as depositary, trustee or agent for, any committee or body of Holders of Warrant Securities or other obligations of the Company as freely as if it were not the Warrant Agent hereunder. Nothing in this Warrant Agreement shall be deemed to prevent the Warrant Agent from acting as trustee under any indenture to which the Company is a party.

 

	 
	8
	

 
	 

 

	(f)	No Liability for Interest. Unless otherwise agreed with the Company, the Warrant Agent shall have no liability for interest on any monies at any time received by it pursuant to any of the provisions of this Agreement or of the Warrant Certificates.
	
 
	
 

	(g)	No Liability for Invalidity. The Warrant Agent shall have no liability with respect to any invalidity of this Agreement or any of the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon).
	
 
	
 

	(h)	No Responsibility for Representations. The Warrant Agent shall not be responsible for any of the recitals or representations herein or in the Warrant Certificates (except as to the Warrant Agent’s countersignature thereon), all of which are made solely by the Company.
	
 
	
 

	(i)	No Implied Obligations. The Warrant Agent shall be obligated to perform only such duties as are herein and in the Warrant Certificates specifically set forth and no implied duties or obligations shall be read into this Agreement or the Warrant Certificates against the Warrant Agent. The Warrant Agent shall not be under any obligation to take any action hereunder which may tend to involve it in any expense or liability, the payment of which within a reasonable time is not, in its reasonable opinion, assured to it. The Warrant Agent shall not be accountable or under any duty or responsibility for the use by the Company of any of the Warrant Certificates authenticated by the Warrant Agent and delivered by it to the Company pursuant to this Agreement or for the application by the Company of the proceeds of the Warrant Certificates. The Warrant Agent shall have no duty or responsibility in case of any default by the Company in the performance of its covenants or agreements contained herein or in the Warrant Certificates or in the case of the receipt of any written demand from a Holder of a Warrant Certificate with respect to such default, including, without limiting the generality of the foregoing, any duty or responsibility to initiate or attempt to initiate any proceedings at law.

 

Section 15. Purchase or Consolidation or Change of Name of Warrant Agent. Any corporation into which the Warrant Agent or any successor Warrant Agent may be merged or with which it may be consolidated, or any corporation resulting from any merger or consolidation to which the Warrant Agent or any successor Warrant Agent shall be party, or any corporation succeeding to the corporate trust business of the Warrant Agent or any successor Warrant Agent, shall be the successor to the Warrant Agent under this Agreement without the execution or filing of any paper or any further act on the part of any of the parties hereto, provided that such corporation would be eligible for appointment as a successor Warrant Agent under the provisions of Section 17. In case at the time such successor Warrant Agent shall succeed to the agency created by this Agreement any of the Warrant Certificates shall have been countersigned but not delivered, any such successor Warrant Agent may adopt the countersignature of the predecessor Warrant Agent and deliver such Warrant Certificates so countersigned; and in case at that time any of the Warrant Certificates shall not have been countersigned, any successor Warrant Agent may countersign such Warrant Certificates either in the name of the predecessor Warrant Agent or in the name of the successor Warrant Agent; and in all such cases such Warrant Certificates shall have the full force provided in the Warrant Certificates and in this Agreement.

 
	 
	9
	

 
	 

 

In case at any time the name of the Warrant Agent shall be changed and at such time any of the Warrant Certificates shall have been countersigned but not delivered, the Warrant Agent may adopt the countersignature under its prior name and deliver Warrant Certificates so countersigned; and in case at that time any of the Warrant Certificates shall not have been countersigned, the Warrant Agent may countersign such Warrant Certificates either in its prior name or in its changed name; and in all such cases such Warrant Certificates shall have the full force provided in the Warrant Certificates and in this Agreement.

 

Section 16. Duties of Warrant Agent. The Warrant Agent undertakes the duties and obligations imposed by this Agreement upon the following terms and conditions, by all of which the Company, by its acceptance hereof, shall be bound:

 

(a) The Warrant Agent may consult with legal counsel reasonably acceptable to the Company (who may be legal counsel for the Company), and the opinion of such counsel shall be full and complete authorization and protection to the Warrant Agent as to any action taken or omitted by it in good faith and in accordance with such opinion.

 

(b) Whenever in the performance of its duties under this Agreement the Warrant Agent shall deem it necessary or desirable that any fact or matter be proved or established by the Company prior to taking or suffering any action hereunder, such fact or matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a certificate signed by the Chief Executive Officer, Chief Financial Officer or Vice President of the Company; and such certificate shall be full authentication to the Warrant Agent for any action taken or suffered in good faith by it under the provisions of this Agreement in reliance upon such certificate.

 

(c) Subject to the limitation set forth in Section 14, the Warrant Agent shall be liable hereunder only for its own gross negligence, bad faith or willful misconduct, or for a breach by it of this Agreement.

 

(d) The Warrant Agent shall not be liable for or by reason of any of the statements of fact or recitals contained in this Agreement or in the Warrant Certificates (except its countersignature thereof) by the Company or be required to verify the same, but all such statements and recitals are and shall be deemed to have been made by the Company only.

 

(e) The Warrant Agent shall not be under any responsibility in respect of the validity of this Agreement or the execution and delivery hereof (except the due execution hereof by the Warrant Agent) or in respect of the validity or execution of any Warrant Certificate (except its countersignature thereof); nor shall it be responsible for any breach by the Company of any covenant or condition contained in this Agreement or in any Warrant Certificate; nor shall it be responsible for the adjustment of the Exercise Price or the making of any change in the number of shares of Common Stock required under the provisions of Section 11 or 13 or responsible for the manner, method or amount of any such change or the ascertaining of the existence of facts that would require any such adjustment or change (except with respect to the exercise of Warrants evidenced by Warrant Certificates after actual notice of any adjustment of the Exercise Price); nor shall it by any act hereunder be deemed to make any representation or warranty as to the authorization or reservation of any shares of Common Stock to be issued pursuant to this Agreement or any Warrant Certificate or as to whether any shares of Common Stock will, when issued, be duly authorized, validly issued, fully paid and nonassessable.

 
	 
	10
	

 
	 

 

(f) Each party hereto agrees that it will perform, execute, acknowledge and deliver or cause to be performed, executed, acknowledged and delivered all such further and other acts, instruments and assurances as may reasonably be required by the other party hereto for the carrying out or performing by any party of the provisions of this Agreement.

 

(g) The Warrant Agent is hereby authorized to accept instructions with respect to the performance of its duties hereunder from the Chief Executive Officer, Chief Financial Officer or Vice President of the Company, and to apply to such officers for advice or instructions in connection with its duties, and it shall not be liable and shall be indemnified and held harmless for any action taken or suffered to be taken by it in good faith in accordance with instructions of any such officer, provided Warrant Agent carries out such instructions without gross negligence, bad faith or willful misconduct.

 

(h) The Warrant Agent and any shareholder, director, officer or employee of the Warrant Agent may buy, sell or deal in any of the Warrants or other securities of the Company or become pecuniarily interested in any transaction in which the Company may be interested, or contract with or lend money to the Company or otherwise act as fully and freely as though it were not Warrant Agent under this Agreement. Nothing herein shall preclude the Warrant Agent from acting in any other capacity for the Company or for any other legal entity.

 

(i) The Warrant Agent may execute and exercise any of the rights or powers hereby vested in it or perform any duty hereunder either itself or by or through its attorney or agents, and the Warrant Agent shall not be answerable or accountable for any act, default, neglect or misconduct of any such attorney or agents or for any loss to the Company resulting from any such act, default, neglect or misconduct, provided reasonable care was exercised in the selection and continued employment thereof.

 

Section 17. Change of Warrant Agent. The Warrant Agent may resign and be discharged from its duties under this Agreement upon 30 days’ notice in writing sent to the Company and to each transfer agent of the Common Stock, and to the Holders of the Warrant Certificates. The Company may remove the Warrant Agent or any successor Warrant Agent upon 30 days’ notice in writing, sent to the Warrant Agent or successor Warrant Agent, as the case may be, and to each transfer agent of the Common Stock, and to the Holders of the Warrant Certificates. If the Warrant Agent shall resign or be removed or shall otherwise become incapable of acting, the Company shall appoint a successor to the Warrant Agent. If the Company shall fail to make such appointment within a period of 30 days after such removal or after it has been notified in writing of such resignation or incapacity by the resigning or incapacitated Warrant Agent or by the Holder of a Warrant Certificate (who shall, with such notice, submit his Warrant Certificate for inspection by the Company), then the Holder of any Warrant Certificate may apply to any court of competent jurisdiction for the appointment of a new Warrant Agent, provided that, for purposes of this Agreement, the Company shall be deemed to be the Warrant Agent until a new warrant agent is appointed. Any successor Warrant Agent, whether appointed by the Company or by such a court, shall be a corporation organized and doing business under the laws of the United States or of a state thereof, in good standing, which is authorized under such laws to exercise corporate trust powers and is subject to supervision or examination by federal or state authority and which has at the time of its appointment as Warrant Agent a combined capital and surplus of at least $50,000,000. After appointment, the successor Warrant Agent shall be vested with the same powers, rights, duties and responsibilities as if it had been originally named as Warrant Agent without further act or deed; but the predecessor Warrant Agent shall deliver and transfer to the successor Warrant Agent any property at the time held by it hereunder, and execute and deliver any further assurance, conveyance, act or deed necessary for the purpose. Not later than the effective date of any such appointment, the Company shall file notice thereof in writing with the predecessor Warrant Agent and each transfer agent of the Common Stock, and mail a notice thereof in writing to the Holders of the Warrant Certificates. However, failure to give any notice provided for in this Section 17, or any defect therein, shall not affect the legality or validity of the resignation or removal of the Warrant Agent or the appointment of the successor Warrant Agent, as the case may be.

 
	 
	11
	

 
	 

 

Section 18. Issuance of New Warrant Certificates. Notwithstanding any of the provisions of this Agreement or of the Warrants to the contrary, the Company may, at its option, issue new Warrant Certificates evidencing Warrants in such form as may be approved by its Board of Directors to reflect any adjustment or change in the Exercise Price per share and the number or kind or class of shares of stock or other securities or property purchasable under the several Warrant Certificates made in accordance with the provisions of this Agreement.

 

Section 19. Notices. Notices or demands authorized by this Agreement to be given or made (i) by the Warrant Agent or by the Holder of any Warrant Certificate to or on the Company, (ii) subject to the provisions of Section 17, by the Company or by the Holder of any Warrant Certificate to or on the Warrant Agent or (iii) by the Company or the Warrant Agent to the Holder of any Warrant Certificate, shall be deemed given (a) on the date delivered, if delivered personally, (b) on the first Business Day following the deposit thereof with Federal Express or another recognized overnight courier, if sent by Federal Express or another recognized overnight courier, (c) on the fourth Business Day following the mailing thereof with postage prepaid, if mailed by registered or certified mail (return receipt requested), and (d) the date of transmission, if such notice or communication is delivered via facsimile or email attachment at or prior to 5:30 p.m. (New York City time) on a Business Day and (e) the next Business Day after the date of transmission, if such notice or communication is delivered via facsimile or email attachment on a day that is not a Business Day or later than 5:30 p.m. (New York City time) on any Business Day, in each case to the parties at the following addresses (or at such other address for a party as shall be specified by like notice):

 

	
 
	(a)	If to the Company, to:
	
 
	
 
	
  

	
 
		
Airborne Wireless Network

4115 Guardian Street, Suite C

Simi Valley, CA 93063

Attention: President

Email: j.edward@airbornewirelessnetwork.com

	
 
	
 
	
  

	
 
	(b)	If to the Warrant Agent, to:
	
 
	
 
	
  

	
 
		
Columbia Stock Transfer Company

1869 E Seltice Way #292

Post Falls ID 83854

Phone: 208-777-8998

Fax: 855-664-3544

michelle@columbiastock.com

  
	 
	12
	

 
	 

 

For any notice delivered by email to be deemed given or made, such notice must be followed by notice sent by overnight courier service to be delivered on the next business day following such email, unless the recipient of such email has acknowledged via return email receipt of such email.

 

(c) If to the Holder of any Warrant Certificate, to the address of such Holder as shown on the registry books of the Company. Any notice required to be delivered by the Company to the Holder of any Warrant may be given by the Warrant Agent on behalf of the Company. Notwithstanding any other provision of this Agreement, where this Agreement provides for notice of any event to a Holder of any Warrant, such notice shall be sufficiently given if given to the Depositary (or its designee) pursuant to the procedures of the Depositary or its designee.

 

Section 20. Supplements and Amendments.

 

(a) The Company and the Warrant Agent may from time to time supplement or amend this Agreement without the approval of any Holders of Global Warrant Certificates in order to add to the covenants and agreements of the Company for the benefit of the Holders of the Global Warrant Certificates or to surrender any rights or power reserved to or conferred upon the Company in this Agreement, provided that such addition or surrender shall not adversely affect the interests of the Holders of the Global Warrant Certificates in any material respect.

 

(b) In addition to the foregoing, with the consent of Holders of Warrants entitled, upon exercise thereof, to receive not less than a majority of the shares of Common Stock issuable thereunder, the Company and the Warrant Agent may modify this Agreement for the purpose of adding any provisions to or changing in any manner or eliminating any of the provisions of this Warrant Agreement or modifying in any manner the rights of the Holders of the Global Warrant Certificates; provided, however, that no modification of the terms (including but not limited to the adjustments described in Section 11) upon which the Warrants are exercisable or reducing the percentage required for consent to modification of this Agreement may be made without the consent of the Holder of each outstanding warrant certificate affected thereby. As a condition precedent to the Warrant Agent’s execution of any amendment, the Company shall deliver to the Warrant Agent a certificate from a duly authorized officer of the Company that states that the proposed amendment complies with the terms of this Section 20.

 
	 
	13
	

 
	 

 

Section 21. Successors. All covenants and provisions of this Agreement by or for the benefit of the Company or the Warrant Agent shall bind and inure to the benefit of their respective successors and assigns hereunder.

 

Section 22. Benefits of this Agreement. Nothing in this Agreement shall be construed to give any Person other than the Company, the Holders of Warrant Certificates and the Warrant Agent any legal or equitable right, remedy or claim under this Agreement; but this Agreement shall be for the sole and exclusive benefit of the Company, the Warrant Agent and the Holders of the Warrant Certificates.

 

Section 23. Governing Law. This Agreement and each Warrant Certificate issued hereunder shall be governed by, and construed in accordance with, the laws of the State of New York without giving effect to the conflicts of law principles thereof.

 

Section 24. Counterparts. This Agreement may be executed in any number of counterparts and each of such counterparts shall for all purposes be deemed to be an original, and all such counterparts shall together constitute but one and the same instrument.

 

Section 25. Captions. The captions of the sections of this Agreement have been inserted for convenience only and shall not control or affect the meaning or construction of any of the provisions hereof.

 

Section 26. Information. The Company agrees to promptly provide to the Holders of the Warrants any information it provides to the holders of the Common Stock, except to the extent any such information is publicly available on the EDGAR system (or any successor thereof) of the Securities and Exchange Commission.

 

[Signature Page Follows]

 
	 
	14
	

 
	 

 

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

 

		AIRBORNE WIRELESS NETWORK	
		  		
		By:		
	
	
  
	Michael J. Warren, Chief Executive Officer	
		Title:		
		  		
	
	
COLUMBIA STOCK TRANSFER COMPANY
	

	
	
  
	
	

	
	
By:
	
	

	
	
Name:
	
Michelle White
	

	
	
Title:
	
	

 

[Signature Page to Warrant Agent Agreement]

 

	 
	15
	

 
	 

 

Annex A: Form of Warrant Certificate Request Notice

 

WARRANT CERTIFICATE REQUEST NOTICE

 

To: Columbia Stock Transfer Company as Warrant Agent for Airborne Wireless Network (the “Company”)

 

The undersigned Holder of Common Stock Purchase Warrants (“Warrants”) in the form of Global Warrants issued by the Company hereby elects to receive a Warrant Certificate evidencing the Warrants held by the Holder as specified below:

 

	1.	Name of Holder of Warrants in form of Global Warrants: _____________________________
	
 
	
 

	2.	Name of Holder in Warrant Certificate (if different from name of Holder of Warrants in form of Global Warrants): ___________________________
	
 
	
 

	3.	Number of Warrants in name of Holder in form of Global Warrants: ___________________
	
 
	
 

	4.	Number of Warrants for which Warrant Certificate shall be issued: __________________
	
 
	
 

	5.	Number of Warrants in name of Holder in form of Global Warrants after issuance of Warrant Certificate, if any: ___________
	
 
	
 

	6.	Warrant Certificate shall be delivered to the following address:

 

______________________________

 

______________________________

 

______________________________

 

The undersigned hereby acknowledges and agrees that, in connection with this Warrant Exchange and the issuance of the Warrant Certificate, the Holder is deemed to have surrendered the number of Warrants in form of Global Warrants in the name of the Holder equal to the number of Warrants evidenced by the Warrant Certificate.

 

[SIGNATURE OF HOLDER]

 

Name of Investing Entity: ____________________________________________________

 

Signature of Authorized Signatory of Investing Entity: ______________________________

 

Name of Authorized Signatory: ________________________________________________

 

Title of Authorized Signatory: _________________________________________________

 

Date: _______________________________________________________________

 
	 
	16
	

 
	 

 

Exhibit 1: Form of Warrant Certificate

 

 

 

 

 

 

 

 

 

 

 

	17Exhibit

Exhibit 10.1

SETTLEMENT AGREEMENT AND MUTUAL RELEASE
This Settlement Agreement and Mutual Release (the "Agreement") is entered into by and between Wynn Resorts, Limited ("Wynn Resorts"), Stephen A. Wynn, Elaine P. Wynn and Kimmarie Sinatra (the "Parties").  Wynn Resorts, Stephen A. Wynn and Kimmarie Sinatra are hereinafter collectively referred to as “the Wynn Parties” and Stephen A. Wynn, Elaine P. Wynn and Kimmarie Sinatra are hereinafter collectively referred to as “the Individuals”.  In consideration of the mutual covenants and agreements of the Parties, and other good and valuable consideration, the receipt of which is hereby acknowledged, the Parties, intending to be legally bound, agree as follows:
1.    BACKGROUND
1.1    Wynn Resorts commenced the action styled Wynn Resorts, Limited v. Kazuo Okada, et al., Case No. A-12-656710-B, in the Eighth Judicial District Court, Clark County, Nevada, asserting various claims against Kazuo Okada, Universal Entertainment Corp. ("Universal") and Aruze USA, Inc. ("Aruze") (collectively, the "Universal Parties"), including requesting declaratory relief as to the propriety of Wynn Resorts’ redemption of shares of its stock held by Aruze as of February 18, 2012.  
1.2    In response, the Universal Parties filed various counterclaims against Wynn Resorts and directors of Wynn Resorts who participated in the redemption, including Elaine P. Wynn.
1.3    Elaine P. Wynn filed crossclaims against Wynn Resorts, Stephen A. Wynn, and Kimmarie Sinatra, in which she alleged, inter alia, that the Amended and Restated Stockholders Agreement dated January 6, 2010 (the "Stockholders Agreement") entered into by Elaine P. Wynn, Stephen A. Wynn, and Aruze was invalid and/or unenforceable; that Stephen A. Wynn breached the Stockholders Agreement; that Stephen A. Wynn breached an implied covenant of good faith and fair dealing in the Stockholders Agreement; and that Wynn Resorts and Kimmarie Sinatra intentionally interfered with Stephen A. Wynn’s performance of the Stockholders Agreement ("the Elaine Wynn Claims").  
1.4    On September 7, 2017, Kimmarie Sinatra filed a counterclaim and crossclaim against Elaine P. Wynn alleging abuse of process.  
1.5    On March 14, 2018, Stephen A. Wynn and Elaine P. Wynn entered into a Stipulation, and the Eighth Judicial District Court entered an Order dismissing with prejudice Claims 1-5, 7 and 10 contained in Elaine P. Wynn’s Sixth Amended Counterclaim and Crossclaim on grounds of mootness, because Stephen A. Wynn agreed that the Stockholders Agreement was invalid and unenforceable.
1.6    All claims, crossclaims, and counterclaims made by Wynn Resorts, Stephen A. Wynn, Elaine P. Wynn, and Kimmarie Sinatra in the case captioned Wynn Resorts Limited, a Nevada corporation vs. Kazuo Okada, an individual, et al. and all related claims, Case No. A-12-656710-B, brought between the Parties to this Agreement, as well as all claims made by Wynn Resorts in 

1

the case captioned Wynn Resorts Limited, a Nevada Corporation, vs. Elaine P. Wynn, an individual, Case No. A-17-753173-B, are referred to herein as the "Litigation."
1.7    This Agreement shall only become effective (the "Effective Date") upon its execution by all Parties.  The failure of any Party to execute this Agreement by 5 pm Pacific time on Monday, April 16, 2018 shall render this Agreement void ab initio.
2.    TERMS OF AGREEMENT
The Parties hereby agree to the following terms and conditions and further agree to perform any and all acts and execute any and all documents necessary or appropriate to implement the following agreement, on or after the Effective Date:
2.1    On or before Thursday, April 19, 2018, Stephen A. Wynn shall pay to Elaine P. Wynn by wire transfer $25,000,000 to settle the aforementioned crossclaims asserted against him by Elaine P. Wynn in connection with the Litigation.  The date on which Stephen A. Wynn pays to Elaine P. Wynn the funds contemplated in this Section 2.1 is referred to as the “Payment Date.”
2.2.     Elaine P. Wynn shall provide wiring instructions within three (3) days after the Effective Date.
2.3    On the later of the Effective Date or the Payment Date, the Parties — by and through their counsel — shall immediately execute and file the forms of Stipulation of Dismissal, attached hereto as Exhibit A, dismissing with prejudice all remaining claims in the Litigation.
2.4    Except for the rights and obligations set forth in this Agreement and in exchange for the valuable consideration set forth above, each of the Individuals, and to the extent applicable, their respective predecessors, successors, officers, directors, corporate affiliates, parents, owners, insurers, agents, attorneys and assigns hereby unconditionally and irrevocably release, acquit and forever discharge each of the other Individuals and Wynn Resorts, as well as, to the extent applicable, their respective predecessors, successors, former and current officers, former and current directors, former and current employees, offspring, corporate affiliates, parents, owners, insurers, agents, representatives, attorneys and assigns of and from the affirmative claims expressly pled by the Individuals in the Litigation, alleging breach of the Stockholders Agreement, fraudulent inducement into the Stockholders Agreement, and claims for interference with the Stockholders Agreement, as well as any claims or motions that Elaine P. Wynn or Stephen A. Wynn could bring against each other in the action styled Stephen A. Wynn v. Elaine P. Wynn, Case No. D-09-407951-D, premised on information disclosed or actions taken in the Litigation.  For the avoidance of doubt, Elaine P. Wynn and Stephen A. Wynn are not releasing any claims, other than (a) the specific affirmative claims pled by the Individuals in the Litigation, alleging breach of the Stockholders Agreement, fraudulent inducement into the Stockholders Agreement, and claims for interference with the Stockholders Agreement, and (b) any claims or motions that Elaine P. Wynn or Stephen A. Wynn could bring against each other in the action styled Stephen A. Wynn v. Elaine P. Wynn, Case No. D-09-407951-D, premised on information disclosed or actions taken in the Litigation.  Elaine P. Wynn, Stephen A. Wynn, Kimmarie Sinatra, and Wynn Resorts agree that they will not attempt to argue or assert that any claims, other than (a) the specific affirmative claims pled by the Individuals in the Litigation, alleging breach of the Stockholders Agreement, fraudulent inducement into the Stockholders Agreement, and claims for interference with the Stockholders Agreement, and (b) any 

2

claims or motions that Elaine P. Wynn or Stephen A. Wynn could bring against each other in the action styled Stephen A. Wynn v. Elaine P. Wynn, Case No. D-09-407951-D, are barred by res judicata or collateral estoppel. 
2.5     Except for the rights and obligations set forth in this Agreement and in exchange for the valuable consideration set forth above, Wynn Resorts, and to the extent applicable, its respective predecessors, successors, officers, directors, corporate affiliates, parents, owners, insurers, agents, attorneys and assigns hereby unconditionally and irrevocably release, acquit and forever discharge Elaine P. Wynn, as well as, to the extent applicable, her respective predecessors, successors, former and current officers, former and current directors, former and current employees, offspring, corporate affiliates, parents, owners, insurers, agents, representatives, attorneys and assigns of and from the affirmative claims expressly pled by Wynn Resorts in the case captioned Wynn Resorts Limited, a Nevada Corporation, vs. Elaine P. Wynn, an individual, Case No. A-17-753173-B alleging that Elaine P. Wynn improperly copied Company documents on January 26, 2013 and subsequently used those documents.  For the avoidance of doubt, Wynn Resorts is not releasing any claims against Elaine P. Wynn other than the specific affirmative claim alleging that Elaine P. Wynn improperly copied Company documents on January 26, 2013 and subsequently used those documents.  Elaine P. Wynn agrees that she will not attempt to argue or assert that any claims, other than the alleged improper copying of Company documents on January 26, 2013 and subsequent use of those documents, are barred by res judicata or collateral estoppel.  
2.6    It is expressly understood and agreed, and made a part hereof, that the execution of this Agreement shall not be construed as an admission of any fact or liability on the part of any Party, but is in compromise, settlement, accord and full satisfaction and discharge of loss and damages, claims, actions, causes of action, suits and liability which are each and all uncertain and disputed.
2.7    In consideration of this Agreement, the Parties hereto represent and warrant to each other as of the Effective Date that they will forever refrain from instituting and/or prosecuting a lawsuit against any of the Parties hereto or any of their respective related agents, successors, entities, parents, affiliates (whether an entity or individual), subsidiaries, officers, directors, insurance carriers, and employees, representatives, attorneys or assigns for any of the released claims. 
2.8    The Parties cannot disparage each other in press releases relating to this Settlement or express an opinion on the merits of the claims being released.  The Parties will exchange drafts of their press releases for approval by the other Parties before executing this Settlement, which approval shall not be unreasonably withheld.   
3.    COSTS AND ATTORNEYS' FEES
If any legal action or other proceeding is brought by any of the Parties hereto relating to this Agreement or to recover damages or equitable relief for a breach or threatened breach thereof, the prevailing party shall recover its costs, expert witness fees, consulting fees, and reasonable attorneys' fees incurred in such an action or proceeding, which amount shall be determined by a court and not a jury.

3

4.    ENTIRE AGREEMENT
All prior or contemporaneous understandings or agreements between the Parties as they relate to the Agreement are merged into this Agreement (along with the Stipulations), and this Agreement alone expresses the agreement of the Parties.  This Agreement may be modified only in writing, signed by all the Parties hereto, and no term or provision may be waived except by such writing.  There are no other agreements or representations, express or implied, either oral or in writing, between the Parties, concerning the subject matter of this Agreement, except as specifically set forth in this Agreement.  There are no promises, agreements or expectations of the Parties unless otherwise stated in this Agreement.  The Parties have been represented by counsel in connection with the preparation of this Agreement.  The merger clause embodied in this Paragraph shall not be construed to apply to that certain Marital Settlement Agreement dated November 19, 2009 by and between Stephen A. Wynn and Elaine P. Wynn or to any of the Individual’s rights to indemnification or indemnification agreements.
5.    APPLICABLE LAW
This Agreement was drafted through the joint efforts of the Parties and/or through counsel, and shall not be read for or against any Party to this Agreement on that account.  This Agreement is intended to be enforced according to its written terms under the laws of the State of Nevada.  Venue for any legal action concerning this Agreement shall lie exclusively in the State or Federal court of Nevada.  All Parties consent to jurisdiction and venue in Nevada for any claims arising out of this Agreement.
6.    BENEFIT
This Agreement shall be binding upon and inure to the benefit of the Parties, and each of them, their successors, assigns, personal representatives, agents, employees, directors, officers, and servants.
7.    COUNTERPARTS
This Agreement may be executed in any number of counterparts and each counterpart executed by any of the undersigned together with all other counterparts so executed shall constitute a single instrument and agreement of the Parties.  Facsimile or electronic copies hereof and facsimile or electronic signatures hereon shall have the same force and effect as originals.
8.    MUTUAL WARRANTIES
Each Party to this Agreement warrants and represents to the other that they have not assigned or transferred to any person or entity not a Party hereto any released claim, or any part or portion thereof, and that each Party has the authority to sign this Agreement, and each individual executing this Agreement on behalf of any entity or person specifically warrants that he or she has the authority and legal capacity to sign this Agreement.

4

9.    NOTICE
All notices or demands of any kind that any Party is required to or desires to give in connection with this Agreement shall be in writing and shall be delivered by facsimile and/or by depositing the notice or demand in the United States mail, postage prepaid, and addressed to the Parties as follows:
		
	1)
	If to Wynn Resorts:

General Counsel
Attn. Kimmarie Sinatra
Wynn Las Vegas
3131 Las Vegas Blvd. South 
Las Vegas, NV 89109

James J. Pisanelli, Esq. 
Todd L. Bice, Esq.
Debra L. Spinelli, Esq. 
PISANELLI BICE PLLC 
400 South 7th Street, Suite 300 
Las Vegas, Nevada 89101 
Office: (702) 214-2100 
Facsimile: (702) 214-2101

Mark Holscher, Esq. 
KIRKLAND & ELLIS LLP
333 S. Hope Street, 29th Floor
Los Angeles, California 90071
Office: (213) 680-8400
Facsimile: (213) 680-8500

		
	2)
	If to Stephen A. Wynn:

Donald J. Campbell, Esq.
J. Colby Williams, Esq.
CAMPBELL & WILLIAMS
700 South Seventh Street
Las Vegas, Nevada 89101
Office: (702) 382-5222
Facsimile: (702) 382-0540

		
	3)
	If to Kimmarie Sinatra:

Melinda Haag, Esq.
James N. Kramer, Esq.
ORRICK, HERRINGTON & SUTCLIFFE LLP

5

The Orrick Building
405 Howard Street
San Francisco, California 94105
Office: (415) 773-5700
Facsimile: (415) 773-5759

		
	4)
	If to Elaine P. Wynn:

James M. Cole, Esq.
SIDLEY AUSTIN, LLP
1501 K. Street, N.W.
Washington, D.C. 20005
Office: (202) 736-8246
Facsimile: (202) 736-8711

Scott D. Stein, Esq.
SIDLEY AUSTIN, LLP
One South Dearborn Street
Chicago, IL 60603
Office: (312) 853-7520
Facsimile: (312) 753-7036

Mark Ferrario
Greenberg Traurig LLP
3773 Howard Hughes Parkway, Suite 400 North
Las Vegas, NV 89169
Office: (702) 792-3773
Facsimile: (702) 792-9002

[remainder of page intentionally left blank]

6

IN WITNESS WHEREOF, the Parties hereby execute this Agreement. 

Dated:     4/16/18        /s/ Matt Maddox                        
WYNN RESORTS, LIMITED.
BY Matt Maddox      its, CEO                

Dated:     4/16/18        /s/ Stephen A. Wynn                    
STEPHEN A. WYNN

Dated:     4/16/18        /s/ Kimmarie Sinatra                    
KIMMARIE SINATRA

Dated:     4/16/18        /s/ Elaine P. Wynn                        
ELAINE P. WYNN

7

EXHIBIT A

     8

James J. Pisanelli, Esq., Bar No. 4027
JJP@pisanellibice.com
Todd L. Bice, Esq., Bar No. 4534
TLB@pisanellibice.com
Debra L. Spinelli, Esq., Bar No. 9695
DLS@pisanellibice.com
PISANELLI BICE PLLC
400 South 7th Street, Suite 300
Las Vegas, Nevada 89101
Telephone:  702.214.2100

Barry B. Langberg, Esq. (admitted pro hac vice)
BBL@pisanellibice.com
PISANELLI BICE PLLC
136 West Canon Perdido Street
Santa Barbara, CA  93101

Attorneys for Plaintiff Wynn Resorts, Limited

DISTRICT COURT
 
CLARK COUNTY, NEVADA

	
		
	WYNN RESORTS, LIMITED, a Nevada Corporation, 

      Plaintiff,

vs.

ELAINE P. WYNN, an individual,

      Defendant.

	Case No.:   A-17-753173-B
Dept. No.:   XV

STIPULATION AND ORDER TO DISMISS

 

Wynn Resorts, Limited and Elaine P. Wynn have entered into a Settlement Agreement dated April 16, 2018, providing for the dismissal of this action.  Accordingly, the parties, by and through their undersigned counsel, hereby stipulate, pursuant to NRCP 41, to the dismissal of this action with prejudice, as provided in and subject to the terms of the April 16, 2018 Settlement Agreement.  Each party shall bear its own costs and fees.     

1

The trial date of September 4, 2018 is hereby vacated.
DATED this 16th day of April, 2018.
	
		
	

PISANELLI BICE PLLC

By:                                                        
James J. Pisanelli Esq., Bar No. 4027
Todd L. Bice, Esq., Bar No. 4534
Debra L. Spinelli, Esq., Bar No. 9695
400 South 7th Street, Suite 300
Las Vegas, Nevada  89101

Barry B. Langberg, Esq.
136 West Canon Perdido Street
Santa Barbara, CA  93101

Attorneys for Wynn Resorts, Limited

	

GREENBERG TRAURIG, LLP

By:                                                        
   Mark E. Ferrario, Esq., Bar No. 1625
   3773 Howard Hughes Pkwy, Suite 400
   Las Vegas, Nevada 89169
   William R. Urga, Esq., Bar No. 1195
   David J. Malley, Esq., Bar No. 8171
   JOLLEY URGA WOODBURY & 
     LITTLE
   330 S. Rampart Blvd., Suite 380
   Las Vegas, Nevada 89145

   James M. Cole, Esq.,
   Eric D. McArthur, Esq.
   SIDLEY AUSTIN LLP
   1501 K Street, N.W.
   Washington, DC 20005

   Scott D. Stein, Esq.
   Kathleen L. Carlson, Esq.
   SIDLEY AUSTIN LLP
   One South Dearborn St.
   Chicago, IL 60603

Attorneys for Defendant, Elaine P. Wynn

IT IS SO ORDERED.
DATED:                      

                                                    
DISTRICT COURT JUDGE

2

Respectfully Submitted by:

PISANELLI BICE PLLC

By: __________________________________
James J. Pisanelli, Esq., Bar No. 4027
Todd L. Bice, Esq., Bar No. 4534
Debra L. Spinelli, Esq., Bar No. 9695
400 South 7th Street, Suite 300
Las Vegas, Nevada  89101

Attorneys for Wynn Resorts, Limited

3

James J. Pisanelli, Esq., Bar No. 4027 
JJP@pisanellibice.com 
Todd L. Bice, Esq., Bar No. 4534 
TLB@pisanellibice.com 
Debra L. Spinelli, Esq., Bar No. 9695 
DLS@pisanellibice.com 
PISANELLI BICE PLLC 
400 South 7th Street, Suite 300 
Las Vegas, NV  89101 
Telephone:  702.214.2100
Robert L. Shapiro, Esq. (pro hac vice admitted)        
RS@glaserweil.com                     
GLASER WEIL FINK HOWARD                   
AVCHEN & SHAPIRO LLP                  
10250 Constellation Boulevard, 19th Floor               
Los Angeles, CA 90067                       
Telephone:  310.553.3000

Mitchell J. Langberg, Esq., Bar No. 10118
mlangberg@bhfs.com
BROWNSTEIN HYATT FARBER SCHRECK LLP
100 North City Parkway, Suite 1600
Las Vegas, Nevada  89106
Telephone:  702.382.2101

Attorneys for Wynn Resorts, Limited 
and Kimmarie Sinatra

DISTRICT COURT

CLARK COUNTY, NEVADA

1

	
		
	ELAINE P. WYNN, an individual, 

      Plaintiff,
vs.

STEPHEN A. WYNN, an individual; WYNN RESORTS, LIMITED, a Nevada Corporation; KIMMARIE SINATRA, an individual,

      Defendants.
                                                                       
KIMMARIE SINATRA,

      Counterclaimant,

vs.

ELAINE P. WYNN,

      Counterdefendant.

	Case No.:     A-12-656710-B
Dept. No.:      XI

STIPULATION AND ORDER OF DISMISSAL

Elaine P. Wynn, Stephen A. Wynn, Wynn Resorts, Limited, and Kimmarie Sinatra have entered into a Settlement Agreement dated April 16, 2018, providing for the dismissal of this action.  Accordingly, the parties, by and through their undersigned counsel, hereby stipulate, pursuant to NRCP 41, to the dismissal of this action with prejudice, as provided in and subject to the terms of the April 16, 2018 Settlement Agreement.  Each party shall bear its own costs and fees.   The trial date of April 16, 2018 is hereby vacated.
DATED this ____ day of April, 2018.

2

	
		
	CAMPBELL & WILLIAMS

By:                                              
   Donald J. Campbell, Esq.
   J. Colby Williams, Esq.
   700 South 7th Street
   Las Vegas, NV  89101

Attorneys for Stephen A. Wynn

By:                                              
   William R. Urga, Esq.
   David J. Malley, Esq.
   JOLLEY URGA WOODBURY    HOLTHUS & ROSE
   330 S. Rampart Boulevard, #380
   Las Vegas, NV  89145

   Mark E. Ferrario, Esq.
   Tami D. Cowden, Esq.
   GREENBERG TRAURIG, LLP
   3773 Howard Hughes Parkway,   Suite 400
   Las Vegas, NV 89169

   Daniel F. Polsenberg, Esq.
   Joel D. Henriod, Esq.
   LEWIS ROCA ROTHGERBER    CHRISTIE
   3993 Howard Hughes Parkway
   Suite 600
   Las Vegas, NV  89169

   James M. Cole, Esq.
   SIDLEY AUSTIN LLP
   1501 K. Street N.W.
   Washington, DC  20005

   Scott D. Stein, Esq. 
   SIDLEY AUSTIN, LLP
   One South Dearborn St.
   Chicago, IL 60603

Attorneys for Elaine P. Wynn
	PISANELLI BICE PLLC

By:                                                  
   James J. Pisanelli, Esq., Bar No. 4027
   Todd L. Bice, Esq., Bar No. 4534
   Debra L. Spinelli, Esq., Bar No. 9695
   400 South 7th Street, Suite 300
   Las Vegas, Nevada  89101

   Robert L. Shapiro, Esq. (pro hac vice admitted)
   GLASER WEIL FINK HOWARD 
   AVCHEN & SHAPIRO LLP
   10250 Constellation Boulevard, 19th Floor
   Los Angeles, California  90067
   
   Mitchell J. Langberg Esq., Bar No. 10118
   BROWNSTEIN HYATT FARBER 
   SCHRECK, LLP
   100 North City Parkway, Suite 1600
   Las Vegas, Nevada  89106
   
Attorneys for Wynn Resorts, Limited
and Kimmarie Sinatra

3

IT IS HEREBY ORDERED that the above-captioned matter is dismissed with prejudice.

DATED:                 
                                                    
DISTRICT COURT JUDGE
Respectfully Submitted by:

PISANELLI BICE PLLC

By: __________________________
James J. Pisanelli, Esq., Bar No. 4027
Todd L. Bice, Esq., Bar No. 4534
Debra L. Spinelli, Esq., Bar No. 9695
400 South 7th Street, Suite 300
Las Vegas, Nevada  89101

Attorneys for Wynn Resorts, Limited

4

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00282-of-00352.parquet"}]]