Document:

Exhibit 10.04

 

THE OFFER AND SALE OF THE
WARRANT REPRESENTED BY THIS CERTIFICATE AND THE UNDERLYING SHARES OF STOCK HAVE
NOT BEEN REGISTERED PURSUANT TO THE SECURITIES ACT OF 1933, AS AMENDED, OR ANY
STATE SECURITIES LAW.  NEITHER THIS
WARRANT NOR THE UNDERLYING STOCK, NOR ANY PORTION THEREOF OR INTEREST THEREIN,
MAY BE SOLD, TRANSFERRED OR OTHERWISE DISPOSED OF UNLESS THE SAME IS REGISTERED
AND QUALIFIED IN ACCORDANCE WITH SAID ACT AND ANY APPLICABLE STATE SECURITIES
LAW, OR, IN THE OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY, SUCH
REGISTRATION AND QUALIFICATION ARE NOT REQUIRED.

 

	
  Warrant No.

  	
   

  	
  March 13, 2006

  

 

WARRANT

to Purchase the Common Stock of 

Hawaiian Holdings, Inc.

 

THIS CERTIFIES THAT, for value received,                            
at the address set forth on the books and records of the Company, or registered
assigns, is entitled to purchase from Hawaiian Holdings, Inc., a Delaware
corporation, or any successor (the “Company”), in whole or in part, at a
purchase price of $5.00 per share (subject to adjustment as provided herein),
at any time, from and after the date of occurrence, if any, of the Triggering
Event to and including March 13, 2009,             
shares of the fully paid and nonassessable Common Stock (as herein defined) (as
such number may be adjusted as provided herein).  If the Triggering Event does not occur on or
before the date that is 120 days after the Closing Date, then this Warrant
shall be cancelled immediately on such date and be of no further force or
effect.

 

The shares of Common Stock which may be purchased pursuant to this Warrant
are referred to herein as the “Aggregate Number”.  Certain terms used in this Warrant are defined
in Section 6.

 

This Warrant is being issued in connection with the provision of additional
credit by Holder or an affiliate thereof under the Credit Agreement, as
modified by an amendment of even date herewith.

 

The number of shares of Common Stock purchasable hereunder (“Warrant
Shares”) is subject to adjustment as hereinafter set forth.  This Warrant is subject to the following
provisions, terms and conditions:

 

1.           (a)   Exercise of
Warrant.  The rights represented by
this Warrant may be exercised by the Holder hereof, in whole or in part (but
not as to a fractional share of Common Stock), by (A) the delivery of this
Warrant, together with a properly completed Subscription Form in the form
attached hereto, to the principal office of the Company at 3375 Koapaka Street,
Suite G-350, Honolulu, HI 96819 (or to such other address as it may designate
by notice in writing to the Holder) and (B) payment to the Company of the
Warrant Purchase Price for the Warrant Shares being purchased (i) by cash or by
certified check or bank draft, (ii) as provided in Section 1(b) or (iii) any
combination thereof.  The Company agrees
that the shares so purchased shall be deemed

 

 

to be issued to the Holder as the record owner of such
shares as of the close of business on the date on which this Warrant shall have
been delivered to the Company and payment made for such shares as
aforesaid.  Certificates for the shares
so purchased shall be delivered to the Holder within two (2) Business Days
after the rights represented by this Warrant shall have been so exercised, and,
unless this Warrant has expired, a new Warrant representing, and with an
Aggregate Number equal to, the number of Warrant Shares, if any, with respect
to which this Warrant shall not then have been exercised, in all other respects
identical with this Warrant, shall also be issued and delivered to the Holder
within such time, or, at the request of such Holder, appropriate notation may
be made on this Warrant and signed by the Company and the same returned to such
Holder.

 

(b)         Exercise
by Reduction in Term Loan Amount.  In
lieu of paying cash as provided in Section 1(a), the Holder shall have the
right to exercise this Warrant by reducing the principal amount of such Holder’s
Term Loan (as defined in the Credit Agreement) by an amount equal to the
aggregate Warrant Purchase Price for the Warrant Shares being purchased
hereunder.

 

(c)         Exercise at the Option of the
Company.  If, for a period of thirty
(30) consecutive calendar days, the average closing price of the Common Stock
on the American Stock Exchange  (or, if
the Common Stock is no longer listed on the American Stock Exchange, on such
other national securities exchange on which the Common Stock is then listed or
admitted to trading) is equal to or greater than $9.00 per share, the Company
shall have the right and option  (the “Forced
Exercise Option”) to cause the Holder to exercise all of its rights under
this Warrant and to pay to the Company the aggregate Warrant Purchase Price for
all the Warrant Shares represented by this Warrant.  The Business Day immediately following such
thirty (30) day period is referred to herein as the “Forced Exercise Date.”  To exercise the Forced Exercise Option, the
Company must deliver to the Holder at its principal offices, at any time after
the Forced Exercise Date (and provided that the Warrant Shares are covered by
an effective registration statement, and the disposition of such Warrant Shares
is not restricted by the blackout provisions contained in Section 2.05 of the
Registration Rights Agreement), a written notice of exercise of the Force
Exercise Option (the “Forced Exercise Notice”). Within ten (10) Business
Days upon receipt of such Forced Exercise Notice, the Holder shall elect to
exercise this Warrant either as set forth in Section 1(a) or Section 1(b) and
shall submit a properly completed Subscription Form to the Company.  If the Holder fails to exercise this Warrant
as so required by the end of such ten (10) Business Day period, then this
Warrant shall be deemed cancelled and of no further force or effect, and all of
Holder’s rights hereunder shall automatically terminate without the necessity
of any further action.

 

(d)         Transfer
Restriction Legend.  Each certificate
for Warrant Shares issued upon exercise of this Warrant, unless at the time of
exercise the offer and sale of such Warrant Shares are registered under the
Securities Act, shall bear the following legend (and any additional legend
required by applicable law or rule) on the face thereof:

 

The offer and sale
of the shares of stock represented hereby have not been registered pursuant to
the Securities Act of 1933, as amended, or any state securities law.  Neither these shares, nor any portion thereof
or interest therein, may be sold, transferred or otherwise disposed of unless
the

 

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same are registered
and qualified in accordance with said Act and any applicable state securities
law, or, in the opinion of counsel reasonably satisfactory to the Company, such
registration and qualification are not required.

 

The
provisions of Section 2 shall be binding upon all holders of certificates for
Warrant Shares bearing the above legend and shall also be applicable to all
holders of this Warrant.

 

(e)   Expenses
and Taxes on Exercise.  The Company
shall pay all expenses, taxes and other charges payable in connection with the
preparation, execution and delivery of any stock certificates and substitute
Warrants pursuant to this Section 1, except that, in case such stock
certificates or Warrants shall be registered in a name or names other than the
name of the holder of this Warrant, funds sufficient to pay all stock transfer
taxes which shall be payable upon the execution and delivery of such stock
certificates or Warrants shall be paid by the Holder to the Company at the time
the Company delivers such stock certificates or Warrants to the Company for
exercise.

 

2.           (a)   Warrants and
Warrant Shares Not Registered; Transferee Restrictions.  Each Holder, by acceptance thereof,
represents and acknowledges that the offer and sale of this Warrant and the
Warrant Shares which may be purchased upon exercise of this Warrant are not
being registered under the Securities Act, that the issuance of this Warrant
and the offering and sale of such Warrant Shares are being made in reliance on
the exemption from registration under Section 4(2) of the Securities Act as not
involving any public offering and that the Company’s reliance on such exemption
is predicated in part on the representations made by the initial Holder of this
Warrant to the Company that such Holder (i) is acquiring this Warrant for
investment purposes for its own account, with no present intention of reselling
or otherwise distributing the same in violation of the Securities Act, subject,
nevertheless, to any requirement of law that the disposition of its property
shall at all times be within its control, (ii) is an “accredited investor” as
defined in Regulation D under the Securities Act and (iii) has such knowledge
and experience in financial and business matters that it is capable of
evaluating the merits and risks of the investments made or to be made in
connection with the acquisition and exercise of this Warrant.  Neither this Warrant nor the related Warrant
Shares may be transferred except pursuant to an effective registration
statement under the Securities Act or upon the conditions specified in Section
2(b).

 

(b)   Notice
of Transfer, Opinion of Counsel. 
Each Holder, by acceptance hereof, agrees that prior to the disposition
of this Warrant or of any Warrant Shares, other than pursuant to an effective
registration under the Securities Act, such Holder will give written notice to
the Company expressing such Holder’s intention to effect such disposition and
describing briefly such Holder’s intention as to the manner in which this
Warrant or the Warrant Shares theretofore issued or thereafter issuable upon
exercise hereof, are to be disposed together with an opinion of counsel as may
be designated by such Holder and reasonably satisfactory to the Company as to
the necessity or non-necessity of registration under the Securities Act.  If in the opinion of such counsel, the
proposed disposition does not require registration under the Securities Act of
the disposition of this Warrant and/or the Warrant Shares issuable or issued
upon the exercise of this Warrant, such Holder shall be entitled to dispose of
this Warrant and/or the Warrant Shares theretofore issued upon the exercise
hereof, all in accordance with the terms of the notice

 

3

 

delivered by such Holder
to the Company.  The Company is entitled
to rely on the most recent written notice from the Holder with respect to the
ownership of the Warrant.

 

3.           Representations,
Warranties and Covenants of the Company.

 

(a)         The Company hereby represents and
warrants that:

 

(A)          The Company has full corporate power
and authority to execute and deliver this Warrant.

 

(B)           The execution and delivery of this
Warrant and the consummation by the Company of the transactions contemplated
hereby have been duly and validly approved by all necessary corporate action on
the part of the Company.

 

(C)           This Warrant has been duly executed
and delivered by the Company and constitutes the legal, valid and binding
obligation of the Company, enforceable in accordance with its terms.

 

(D)          The Holder of this Warrant, when such
Warrant is issued by the Company to such Holder, shall have good title thereto
free from all taxes, liens and charges with respect to the issuance thereof.

 

(b)         The Company covenants and agrees that:

 

(A)          Reservation of Shares.  During the period within which the rights
represented by this Warrant may be exercised, the Company will have at all
times authorized, and reserved for the purpose of issue or transfer upon
exercise of the rights evidenced by this Warrant, a sufficient number of shares
of the Common Stock to provide therefore.

 

(B)           Issuance of Shares.  The Warrant Shares issued pursuant to the
exercise of this Warrant will, upon issuance, be duly and validly issued, fully
paid and nonassessable and the Holder of such Warrant Shares shall have good
title to such Warrant Shares free from all taxes, liens and charges with
respect to the issuance thereof.

 

(C)           Listing on Securities Exchanges.  The Company promptly will procure at its sole
expense the listing (subject to issuance or notice of issuance) of all Warrant
Shares, following registration of such Warrant Shares under the Securities Act,
on all stock exchanges on which the shares of Common Stock are then listed.

 

4.           Participation
in Distributions of Common Stock and Certain Adjustments.

 

Under certain conditions, the Aggregate Number is subject to adjustment
as set forth in this Section 4.  No
adjustments shall be made under this Section 4 as a result of the issuance
by the Company of the Warrant Shares upon exercise of this Warrant.

 

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(a)         Adjustments.  The Aggregate Number, after taking into
consideration any prior adjustments pursuant to this Section 4, shall be
subject to adjustment from time to time as follows and, thereafter, as adjusted,
shall be deemed to be the Aggregate Number hereunder.  No adjustment shall be made under this
Section 4(a) upon the issuance of Convertible Securities or Common Stock
issuable upon exercise or conversion of such Convertible Securities if an adjustment
shall previously have been made upon the issuance of such Convertible
Securities pursuant to Section 4(c).

 

(i)            Stock Dividends;
Subdivisions and Combinations.  In
case at any time or from time to time the Company shall:

 

(A)          issue to the holders of the Common
Stock a dividend payable in, or other distribution of, Common Stock (a “Stock
Dividend”),

 

(B)           subdivide its outstanding shares of
Common Stock into a larger number of shares of Common Stock, including without
limitation by means of a stock split (a “Stock Subdivision”), or

 

(C)           combine its outstanding shares of
Common Stock into a smaller number of shares of Common Stock (a “Stock
Combination”),

 

then the Aggregate Number in effect immediately prior thereto shall be
(1) proportionately increased in the case of a Stock Dividend or a Stock
Subdivision and (2) proportionately decreased in the case of a Stock
Combination.  In the event the Company
shall declare or pay, without consideration, any dividend on the Common Stock
payable in any right to acquire Common Stock for no consideration, then the
Company shall be deemed to have made a Stock Dividend in an amount of shares
equal to the maximum number of shares issuable upon exercise of such rights to
acquire Common Stock.

 

(ii)           Other
Distributions.  In case at any time
or from time to time the Company shall take a record of the holders of the
Common Stock for the purpose of entitling them to receive any dividend or other
distribution, other than a distribution of Common Stock, Convertible Securities
or options, warrants or other rights to subscribe for or purchase any
Convertible Securities (collectively, a “Distribution”), of:

 

(A)          Cash (other than regular quarterly
dividends payable out of current consolidated earnings);

 

(B)           any evidences of its indebtedness,
any shares of its Capital Stock (other than Common Stock) or any other
securities or property of any nature whatsoever (other than cash); or

 

(C)           any options, warrants or other rights
to subscribe for or purchase any of the following: any evidences of its
indebtedness, any shares of its Capital Stock (other than Common Stock) or any
other securities or property of any nature whatsoever (other than cash),

 

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then the Holder shall be entitled to receive such Distribution as if
the Holder had fully exercised this Warrant upon the exercise of this Warrant
at any time on or after the taking of such record, the number of Warrant Shares
to be received upon exercise of this Warrant determined as stated herein and,
in addition and without further payment, the cash, evidences of indebtedness,
stock, securities, other property, options, warrants and/or other rights (or
any portion thereof) to which the Holder would have been entitled by way of
such Distribution and subsequent dividends and distributions through the date
of exercise as if such Holder (x) had fully exercised this Warrant immediately
prior to such Distribution and (y) had retained the Distribution in respect of
the Common Stock and all subsequent dividends and distributions of any nature
whatsoever in respect of any stock or securities paid as dividends and
distributions and originating directly or indirectly from such Common Stock.

 

A reclassification of the Common Stock into shares of
Common Stock and shares of any other class of stock shall be deemed a
Distribution by the Company to the holders of the Common Stock of such shares
of such other class of stock and, if the outstanding shares of Common Stock
shall be changed into a larger or smaller number of shares of Common Stock as a
part of such reclassification, such event shall be deemed a Stock Subdivision
or Stock Combination, as the case may be, of the outstanding shares of Common
Stock within the meaning of Section 4(a)(i) hereof.

 

(iii)          Issuance of
Common Stock.  If at any time or from
time to time the Company shall (except as hereinafter provided in this Section
4(a)(iii)) issue or sell any additional shares of Common Stock for a
consideration per share less than the Fair Market Value, then, effective on the
date specified below, the Aggregate Number shall be adjusted by multiplying (A)
the Aggregate Number immediately prior thereto by (B) a fraction, the numerator
of which shall be the sum of the number of shares of Common Stock outstanding immediately
prior to the issuance of such additional shares of Common Stock (calculated on
a Fully Diluted basis) and the number of such additional shares of Common Stock
so issued and the denominator of which shall be the sum of the number of shares
of Common Stock outstanding immediately prior to the issuance of such
additional shares of Common Stock (calculated on a Fully Diluted basis) and the
number of shares of Common Stock which the aggregate consideration for the
total number of such additional shares of Common Stock so issued would purchase
at the Fair Market Value.  The date as of
which the Fair Market Value shall be computed shall be the earlier of the date
on which the Company shall enter into a firm contract or commitment for the
issuance of such additional shares of Common Stock or the date of actual
issuance of such additional shares of Common Stock.

 

The provisions of this Section 4(a)(iii) shall
not apply to any issuance of additional shares of Common Stock for which an
adjustment is otherwise provided under

 

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Section 4(a)(i) hereof.  No adjustment of the Aggregate Number shall
be made under this Section 4(a)(iii) upon:

 

(A)          the issuance of any additional shares
of Common Stock which are issued pursuant to (x) the exercise of other
subscription or purchase rights or (y) the exercise of any conversion or
exchange rights in any Convertible Securities, provided that for purposes of
clauses (x) or (y) an adjustment shall previously have been made upon the
issuance of such other rights or upon the issuance of such Convertible
Securities pursuant to Section 4(a)(iv) or (v) hereof or no such
adjustment shall have been required upon the issuance of such other rights or
Convertible Securities;

 

(B)           the issuance of Common Stock in any
merger or other acquisition of a business or Person approved by the Board of
Directors of the Company;

 

(C)           the issuance of Common Stock in a
Qualified Public Offering;

 

(D)          the issuance of up to 1,500,000 shares
of Common Stock issuable to employees of Hawaiian Airlines, Inc. pursuant to
the Hawaiian Airlines, Inc. Stock Bonus Plan;

 

(E)           the issuance of shares of Common
Stock upon the exercise of stock options or other awards made or denominated in
shares of Common Stock under the Company’s 2005 Stock Incentive Plan or any of
the Company’s other stock plans including any stock option, stock purchase,
restricted stock or similar plan hereafter adopted by the Board of Directors of
the Company and, if required by applicable law or stock exchange requirement,
approved by the stockholders of the Company;

 

(F)           the issuance of Common Stock on
exercise or conversion of Convertible Securities outstanding on the Closing
Date; or

 

(G)           the issuance of Common Stock pursuant
to Convertible Securities to financial institutions or similar entities in
transactions approved by the Board of Directors of the Company, the principal
purpose of which is not raising capital through the sale of equity securities.

 

(iv)          Warrants and
Options.  If at any time or from time
to time the Company shall take a record of the holders of the Common Stock for
the purpose of entitling them to receive a distribution of, or shall in any
manner (whether directly, by assumption in a merger in which the Company is the
surviving corporation and in which the shareholders of the Company immediately
prior to the merger continue to own more than fifty percent (50%) of the
outstanding Common Stock immediately after the merger and for a period of one
hundred eighty (180) days thereafter, or otherwise) issue or sell any warrants,
options or other rights to subscribe for

 

7

 

or purchase,
directly or indirectly, any Convertible Securities, whether or not the rights
to subscribe, purchase, exchange or convert thereunder are immediately
exercisable, and the consideration per share for which additional shares of
Common Stock may at any time thereafter be issuable pursuant to such warrants,
options or other rights or pursuant to the terms of such Convertible Securities
shall be less than the Fair Market Value, then the Aggregate Number shall be
adjusted as provided in Section 4(a)(iii) hereof on the basis that (A) the
maximum number of additional shares of Common Stock issuable pursuant to all such
warrants, options or other rights or necessary to effect the conversion or
exchange of all such Convertible Securities shall be deemed to have been issued
as of the date of the determination of the Fair Market Value as hereinafter
provided and (B) the aggregate consideration for such maximum number of
additional shares of Common Stock shall be deemed to be the minimum
consideration received and receivable by the Company for the issuance of such
additional shares of Common Stock pursuant to the terms of such warrants,
options or other rights or such Convertible Securities.  For purposes of this Section 4(a)(iv),
the effective date of such adjustment and the date as of which the Fair Market
Value shall be computed shall be the earliest of (x) the date on which the
Company shall take a record of the holders of the Common Stock for the purpose
of entitling them to receive any such warrants, options or other rights, (y)
the date on which the Company shall enter into a firm contract or commitment
for the issuance of such warrants, options or other rights and (z) the date of
actual issuance of such warrants, options or other rights.

 

No adjustment of the Aggregate Number shall be made
under this Section 4(a)(iv) upon:

 

(A)          the issuance of any warrants, options
or other rights which are issued pursuant to the exercise of any warrants,
options or other rights if an adjustment shall have been made or is
contemporaneously made or if no such adjustment shall have been required upon
the issuance of such warrants, options or other rights, pursuant to this
Section 4(a)(iv);

 

(B)           the issuance of warrants, options or
other rights to subscribe for or purchase Convertible Securities in any merger
or other acquisition of a business or Person approved by the Board of Directors
of the Company;

 

(C)           the issuance of warrants, options or
other rights to subscribe for or purchase shares of Common Stock or other
awards made or denominated in shares of Common Stock under the Company’s 2005
Stock Incentive Plan or any of the Company’s other stock plans including any
stock option, stock purchase, restricted stock or similar plan hereafter
adopted by the Board of Directors of the Company and, if required by applicable
law or stock exchange requirement, approved by the stockholders of the Company;
or

 

8

 

(D)          the issuance of options, warrants or
other rights to subscribe for or purchase Convertible Securities to financial
institutions or similar entities in transactions approved by the Board of Directors
of the Company, the principal purpose of which is not raising capital through
the sale of equity securities.

 

(v)           Convertible
Securities.  If at any time or from
time to time the Company shall take a record of the holders of the Common Stock
for the purpose of entitling them to receive a distribution of or shall in any
manner (whether directly, by assumption in a merger in which the Company is the
surviving corporation and in which the shareholders of the Company immediately
prior to the merger continue to own more than fifty percent (50%) of the
outstanding Common Stock immediately after the merger and for a period of one
hundred eighty (180) days thereafter, or otherwise) issue or sell Convertible
Securities, whether or not the rights to exchange or convert thereunder are
immediately exercisable, and the consideration per share for the additional
shares of Common Stock which may at any time thereafter be issuable pursuant to
the terms of such Convertible Securities shall be less than the Fair Market
Value, then the Aggregate Number shall be adjusted as provided in
Section 4(a)(iii) hereof on the basis that (A) the maximum number of
additional shares of Common Stock necessary to effect the conversion or
exchange of all such Convertible Securities shall be deemed to have been issued
as of the date of the determination of the Fair Market Value as herein provided
and (B) the aggregate consideration for such maximum number of additional
shares of Common Stock shall be deemed to be the minimum consideration received
and receivable by the Company for the issuance of such additional shares of
Common Stock pursuant to the terms of such Convertible Securities.  For purposes of this Section 4(a)(v), the
effective date of such adjustment and the date as of which the Fair Market
Value shall be computed shall be the earliest of (x) the date on which the
Company shall take a record of the holders of the Common Stock for the purpose
of entitling them to receive any such Convertible Securities, (y) the date on
which the Company shall enter into a firm contract or commitment for the
issuance of such Convertible Securities and (z) the date of actual issuance of
such Convertible Securities.

 

No adjustment of the Aggregate Number shall be made
under this Section 4(a)(v) upon:

 

(A)          the issuance of any Convertible
Securities which are issued pursuant to the exercise of any warrants, options
or other subscription or purchase rights if an adjustment shall previously have
been made or is contemporaneously made or if no such adjustment shall have been
required upon the issuance of such warrants, options or other rights pursuant
to Section 4(a)(iv) hereof;

 

9

 

(B)           the issuance of Convertible
Securities in any merger or other acquisition of a business or Person approved
by the Board of Directors of the Company;

 

(C)           the issuance of Convertible
Securities upon the exercise, conversion or the extension of the term of
Convertible Securities outstanding on the Closing Date or the cancellation and
reissuance with identical terms and conditions except for a longer term of any
such Convertible Securities outstanding on the Closing Date; or

 

(D)          the issuance of Convertible Securities
to financial institutions or similar entities in transactions approved by the
Board of Directors of the Company, the principal purpose of which is not
raising capital through the sale of equity securities.

 

(vi)          Subsequent
Adjustments.  If at any time after
any adjustment of the Aggregate Number shall have been made pursuant to Section 4(a)
(iv) or (v) hereof on the basis of the issuance of warrants, options or other
rights or the issuance of Convertible Securities, or after any new adjustments
of the Aggregate Number shall have been made pursuant to this Section 4(a)(vi),
then:

 

(A)          such warrants, options or rights or
the right of conversion or exchange in such Convertible Securities shall
expire, and all or a portion of such warrants, options or rights, or the right
of conversion or exchange in respect of all or a portion of such Convertible
Securities, as the case may be, shall not have been exercised prior to such
expiration, then

 

(B)           such previous adjustment shall be
rescinded and annulled and the additional shares of Common Stock which were
deemed to have been issued by virtue of the computation made in connection with
such adjustment shall no longer be deemed to have been issued by virtue of such
computation;

 

(C)           simultaneously therewith, a
recomputation shall be made of the effect of such warrants, options or rights
or Convertible Securities on the determination of the Aggregate Number, which
shall be made on the basis of treating the number of additional shares of
Common Stock, if any, theretofore actually issued pursuant to any previous
exercise of such warrants, options or rights or such right of conversion or
exchange as having been issued on the date or dates of such exercise and, in
the case of a recomputation of a calculation originally made pursuant to
Section 4(a)(iv) or (v), for the consideration actually received and
receivable therefor;

 

and, if and to the extent called for by the foregoing
provisions of Section 4(a)(vi) on the basis aforesaid, a new adjustment of
the Aggregate Number shall be made, such new adjustment shall supersede the
previous adjustment so rescinded and annulled.

 

10

 

(vii)         Miscellaneous.  The following provisions shall be applicable
to the making of adjustments of the Aggregate Number provided above in this
Section 4(a):

 

(A)          Whenever the Aggregate Number is
adjusted pursuant to this Section 4(a), the Warrant Purchase Price per Warrant
Share payable upon exercise of this Warrant shall be adjusted by multiplying
the Warrant Purchase Price immediately prior to such adjustment by a fraction,
the numerator of which shall be the Aggregate Number prior to such adjustment,
and the denominator of which shall be the Aggregate Number following such
adjustment.

 

(B)           The sale or other disposition of any
issued shares of Common Stock owned or held by or for the account of the
Company or any of its Subsidiaries shall be deemed an issuance thereof for the
purposes of this Section 4(a).

 

(C)           To the extent that any additional
shares of Common Stock or any Convertible Securities or any warrants, options or
other rights to subscribe for or purchase any Convertible Securities (1) are
issued solely for cash consideration, the consideration received by the Company
therefor shall be deemed to be the amount of the cash received by the Company
therefor or (2) are offered by the Company for subscription, the consideration
received by the Company shall be deemed to be the subscription price, in any
such case excluding any amounts paid or receivable for accrued interest or
accrued or accumulated  dividends.  To the extent that such issuance shall be for
a consideration other than cash, or partially for cash and partially for other
consideration, then the amount of such consideration shall be deemed to be the
fair market value of such other consideration plus, if applicable, the amount
of such cash at the time of such issuance, determined in the manner set forth
in Section 4(d)(ii).  In case any
additional shares of Common Stock or any Convertible Securities or any
warrants, options or other rights to subscribe for or purchase any Convertible
Securities shall be issued in connection with any merger in which the Company
is the survivor and issues any securities, the amount of consideration therefor
shall be deemed to be the fair market value of such additional shares of Common
Stock, Convertible Securities, warrants, options or other rights, as the case
may be, determined in the manner set forth in Section 4(d)(ii).

 

The consideration for any shares of Common Stock
issuable pursuant to the terms of any Convertible Securities shall be equal to
(x) the consideration received by the Company for issuing any warrants, options
or other rights to subscribe for or purchase such Convertible Securities, plus
(y) the consideration paid or payable to the Company in respect of the subscription
for or purchase of such Convertible Securities, plus (z) the consideration, if
any, payable to the Company upon the exercise of the right of conversion or
exchange of such Convertible Securities.

 

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In case of the issuance at any time of any additional
shares of Common Stock or Convertible Securities in payment or satisfaction of
any dividend upon any class of stock other than Common Stock or interest on any
indebtedness, the Company shall be deemed to have received for such additional
shares of Common Stock or Convertible Securities a consideration equal to the
amount of such dividend or interest so paid or satisfied.

 

(D)          The adjustments required by the
preceding paragraphs of this Section 4(a) shall be made whenever and as
often as any specified event requiring an adjustment shall occur, except that
no adjustment of the Aggregate Number that would otherwise be required shall be
made if the amount of such adjustment shall be less than one percent (1%) of
the number of Warrant Shares issuable upon exercise of the Warrants immediately
prior to such adjustment.  Any adjustment
representing a change of less than such minimum amount (except as aforesaid)
shall be carried forward and made as soon as such adjustment, together with
other adjustments required by this Section 4(a) and not previously made,
would result in a minimum adjustment. 
For the purpose of any adjustment, any specified event shall be deemed
to have occurred at the close of business on the date of its occurrence.

 

(E)           In computing adjustments under this
Section 4(a), fractional interests in Common Stock shall be taken into
account to the nearest one-thousandth of a share.

 

(F)           If the Company shall take a record of
the holders of the Common Stock for the purpose of entitling them to receive a
dividend or distribution or subscription or purchase rights and shall,
thereafter and before the distribution to shareholders thereof, legally abandon
its plan to pay or deliver such dividend, distribution, subscription or
purchase rights, then no adjustment shall be required by reason of the taking
of such record and any such adjustment previously made in respect thereof shall
be rescinded and annulled.

 

(b)         Changes
in Common Stock.  In case at any time
the Company shall initiate any transaction or be a party to any transaction
(including, without limitation, a merger, consolidation, share exchange, sale,
lease or other disposition of all or substantially all of the Company’s assets,
liquidation, recapitalization or reclassification of the Common Stock) in
connection with which the previous outstanding Common Stock shall be changed
into or exchanged for different securities of the Company or Capital Stock or
other securities of another corporation or interests in a non-corporate entity
or other property (including cash) or any combination of the foregoing (each
such transaction being herein called a “Transaction”), then, as a
condition of the consummation of the Transaction and without duplication of any
adjustment made pursuant to Section 4(a)(i), lawful, enforceable and
adequate provision shall be made so that the Holder shall be entitled to
receive upon exercise of this Warrant at any time on or after the consummation
of the Transaction, in lieu of the Warrant Shares issuable upon such exercise
prior to such consummation, the securities or other property (including cash)
to which such Holder would have been entitled upon consummation of the
Transaction if such Holder had exercised this Warrant immediately prior thereto
(subject to adjustments from and after the consummation date, other

 

12

 

than in the case of a Transaction in which Common Stock was exchanged
solely for cash, as nearly equivalent as possible to the adjustments provided
for in this Section 4).  The
foregoing provisions of this Section 4(b) shall similarly apply to
successive Transactions.

 

(c)         Other
Action Affecting Capital Stock.  In
case at any time or from time to time the Company shall take any action of the
type contemplated in Section 4(a) or (b) hereof but not expressly provided for
by such provisions (other than the granting of stock appreciation rights,
phantom stock rights or other rights with equity features) other than cash
bonuses, then, unless in the opinion of the Company’s Board of Directors such
action will not have a material adverse effect upon the rights of the Holder
(taking into consideration, if necessary, any prior actions which the Company’s
Board of Directors deemed not to materially adversely affect the rights of the
Holder), the Aggregate Number shall be adjusted in such manner and at such time
as the Company’s Board of Directors may in good faith determine to be equitable
in the circumstances.

 

(d)         Notices.

 

(i)      Notice of Proposed
Actions.  In case the Company shall
propose (A) to pay any dividend payable in stock of any class to the holders of
the Common Stock or to make any other distribution to the holders of the Common
Stock, (B) to offer to the holders of the Common Stock rights to subscribe for
or to purchase any Convertible Securities or additional shares of Common Stock
or shares of stock of any class or any other securities, warrants, rights or
options, (other than the exercise of pre-emptive rights by such a holder) (C)
to effect any reclassification of the Common Stock, (D) to effect any
recapitalization, stock subdivision, stock combination or other capital
reorganization, (E) to effect any consolidation or merger, share exchange, or
sale, lease or other disposition of all or substantially all of its property,
assets or business, (F) to effect the liquidation, dissolution or winding up of
the Company, or (G) to effect any other action which would require an
adjustment under this Section 4, then in each such case the Company shall
give to the Holder written notice of such proposed action, which shall specify
the date on which a record is to be taken for the purposes of such stock
dividend, stock subdivision, stock combination, distribution or rights, or the
date on which such reclassification, recapitalization, reorganization,
consolidation, merger, share exchange, sale, lease, transfer, disposition,
liquidation, dissolution, winding up or other transaction is to take place and
the date of participation therein by the holders of Common Stock, if any such
date is to be fixed, or the date on which the transfer of Common Stock is to
occur, and shall also set forth such facts with respect thereto as shall be
reasonably necessary to indicate the effect of such action on the Common Stock
and on the Aggregate Number after giving effect to any adjustment which will be
required as a result of such action. 
Such notice shall be so given in the case of any action covered by
clause (A) or (B) above at least ten (10) days prior to the record date for
determining holders of the Common Stock for purposes of such action and, in the
case of any other such action, at least ten (10) days prior to the earlier of
the date of

 

13

 

the taking of such proposed action or the date of participation therein
by the holders of Common Stock.

 

(ii)           Adjustment
Notice.  Whenever the Aggregate
Number is to be adjusted pursuant to this Section 4, unless otherwise agreed by
the Holder, the Company shall promptly (and in any event within twenty (20)
Business Days after the event requiring the adjustment) prepare a certificate
signed by the Chief Financial Officer of the Company, setting forth, in
reasonable detail, the event requiring the adjustment and the method by which
such adjustment is to be calculated.  The
Company shall keep at its principal office copies of all such certificates and
cause the same to be available for inspection at said office during normal
business hours by the Holder or any prospective purchaser of the Warrant (in
whole or in part) if so designated by the Holder.

 

5.             No Dilution or
Impairment.  The Company will not, by
amendment of its Certificate of Incorporation or through any reorganization,
recapitalization, transfer of assets, consolidation, merger, share exchange,
dissolution or any other voluntary action, avoid or seek to avoid the
observance or performance of any of the terms of this Warrant, including,
without limitation, the adjustments required under Section 4 hereof, and will
at all times in good faith assist in the carrying out of all such terms and in
taking of all such action as may be necessary or appropriate to protect the
rights of the Holder against dilution or other impairment.  Without limiting the generality of the foregoing
and notwithstanding any other provision of this Warrant to the contrary
(including by way of implication), the Company (a) will not increase the par
value of any shares of Common Stock receivable on the exercise of this Warrant
above the amount payable therefor on such exercise or (b) will take all such
action as may be necessary or appropriate so that the Company may validly and
legally issue fully paid and nonassessable shares of Common Stock on the
exercise of this Warrant.

 

6.             Definitions.  The terms defined in this Section 6, whenever
used in this Warrant, shall, unless the context otherwise requires, have the
respective meanings hereinafter specified:

 

(a)      “Aggregate
Number” shall have the meaning set forth in the recitals hereto.

 

(b)      “Business
Day” shall mean any day other than a Saturday, Sunday or other day on which
commercial banks in The City of New York are authorized or required by law or
executive order to close.

 

(c)      “Capital
Stock” shall mean (a) with respect to any Person that is a corporation, any
and all shares, interests or equivalents in capital stock (whether voting or
nonvoting, and whether common or preferred) of such corporation, and (b) with
respect to any Person that is not a corporation, any and all partnership,
membership, limited liability company or other equity interests of such Person
that confer on a Person the right to receive a share of the profits and losses
of, or the distribution of assets of, the issuing Person; and in each case, any
and all warrants, rights or options to purchase, and all conversion or exchange
rights, voting rights, calls or rights of any character with respect to, any of
the foregoing, including, without limitation, any rights in respect of any
change in the value of any of the foregoing, including stock appreciation

 

14

 

rights and similar
interests.

 

(d)      “Closing
Date” shall mean March 13, 2006.

 

(e)      “Common
Stock” shall mean the Common Stock, par value $.01 per share, of the
Company or any other Capital Stock of the Company into which such stock is
reclassified or reconstituted.

 

(f)       “Company”
shall have the meaning set forth in the introductory paragraph hereto.

 

(g)      “Convertible
Securities” shall mean evidences of indebtedness, shares of stock or other
securities (including, without limitation, options and warrants) which are
directly or indirectly convertible, exercisable or exchangeable, with or
without payment of additional consideration in cash or property, for shares of
Common Stock, either immediately or upon the onset of a specified date or the
happening of a specified event.

 

(h)      “Credit
Agreement” shall mean that certain Credit Agreement, dated June 2, 2005 (as
amended, restated, supplemented or otherwise modified from time to time, including
without limitation the amendment of even date herewith), by and among the
Company, Hawaiian Airlines, Inc., a Delaware corporation, as borrower, the
lenders that are from time to time parties thereto, and Canyon Capital
Advisors, LLC, as agent.

 

(i)       “Distribution”
shall have the meaning set forth in Section 4(a)(ii).

 

(j)       “Fair
Market Value” shall mean, with respect to a share of Common Stock on any
date: (i) the fair market value of the outstanding Common Stock over then ten
(10) trading days prior to the date of calculation based upon (a) if the Common
Stock is listed on a national securities exchange, the closing price per share
of Common Stock on each such day published in The Wall Street Journal (National
Edition) or, if no such closing price on each such day is published in The Wall
Street Journal (National Edition), the average of the closing bid and asked
prices on each such day, as officially reported on the principal national
securities exchange on which the Common Stock is then listed or admitted to
trading; (b) if the Common Stock is not then listed or admitted to trading on
any national securities exchange, but is designated as a national market system
security, the last trading price of the Common Stock on each such day; and (c)
if there shall have been no trading on any such day or if the Common Stock is
not so designated, the average of the reported closing bid and asked price of
the Common Stock, on each such day as shown by NASDAQ and reported by any
member firm of the NYSE selected by the Company; (ii) if none of (i)(a), (b) or
(c) is applicable, a market price per share determined in good faith by the
Board of Directors of the Company, which shall be deemed to be “Fair Market
Value”; or (iii) such other measure of fair market value as is required by a
national securities exchange on which the Common Stock is then listed if such
exchange’s measure of fair market value is applicable to the transaction in
question.

 

(k)      “Forced
Exercise Date” shall have the meaning set forth in Section 1(c).

 

(l)       “Forced
Exercise Notice” shall have the meaning set forth in Section 1(c).

 

15

 

(m)     “Forced
Exercise Option” shall have the meaning set forth in Section 1(c).

 

(n)      “Fully
Diluted” shall mean, with respect to the Common Stock as of a particular
time, the total number of outstanding shares of Common Stock as of such time as
determined by treating (i) the shares issuable under the Warrants as having
been issued and (ii) all outstanding and “in-the-money” and then exercisable
Convertible Securities, as having been converted, exercised or exchanged and
the shares issuable thereunder as having been issued.

 

(o)      “Holder”
shall mean any holder of an interest in the Warrant or the outstanding Warrant
Shares who becomes a holder in compliance with Section 2 hereof.

 

(p)      “Person”
shall mean any individual, firm, corporation, limited liability company,
partnership, trust, incorporated or unincorporated association, joint venture,
joint stock company, Governmental Authority or other entity of any kind, and
shall include any successor (by merger or otherwise) of such entity.

 

(q)      “Qualified
Public Offering” shall mean the consummation of a firm commitment public
offering of the Common Stock of the Company by a nationally recognized
investment banking firm pursuant to an effective registration statement under
the Securities Act covering the offer and sale of such securities for cash for
the account of the Company.

 

(r)       “Registration
Rights Agreement” shall mean that certain Registration Rights Agreement,
dated the Closing Date, by and among the Company and the other parties thereto,
relating to the Warrant Shares and the other registrable securities referenced
therein.

 

(s)      “Required
Holders” shall mean the holders of a majority of the Total Warrant Shares.

 

(t)       Securities
Act” shall mean the Securities Act of 1933, as amended, or any similar
federal statute, and the rules and regulations thereunder as the same shall be
in effect at the time.

 

(u)      “Stock
Combination” shall have the meaning set forth in Section 4(a)(i).

 

(v)      “Stock
Dividend” shall have the meaning set forth in Section 4(a)(i).

 

(w)     “Stock
Subdivision” shall have the meaning set forth in Section 4(a)(i).

 

(x)      “Total
Warrants” shall mean this Warrant, together with any portions thereof
assigned or transferred.

 

(y)      “Total
Warrant Shares” shall mean the shares of Common Stock issuable upon
exercise of the Total Warrants and which have not been so exercised.

 

(z)      “Transaction”
shall have the meaning set forth in Section 4(b).

 

(aa)    “Triggering
Event” shall have the meaning ascribed to the term “Additional Warrants
Triggering Event” in the Credit Agreement.

 

16

 

(bb)   “Warrant
Purchase Price” shall mean the purchase price of $5.00 per share of Common
Stock payable upon exercise of this Warrant, as adjusted as provided herein.

 

(cc)    “Warrants”
shall mean this Warrant and all Warrants issued in exchange, transfer or
replacement thereof.

 

(dd)   “Warrant
Shares” shall have the meaning set forth in the fourth paragraph hereto.

 

(ee)    As used
herein, any reference to a specified percentage of Warrants or Warrant Shares
shall exclude any Warrants or Warrant Shares held by the Company or a
subsidiary thereof.

 

7.             Exchange,
Replacement and Assignability .  This
Warrant is exchangeable, upon the surrender hereof by the Holder at the office
or agency of the Company described in Section 1, for new Warrants of like tenor
and date representing in the aggregate the right to purchase the number of
shares which may be purchased hereunder, each of such new Warrants to represent
the right to purchase such number of shares as shall be designated by such
Holder at the time of such surrender. 
Upon receipt of evidence satisfactory to the Company of the loss, theft,
destruction or mutilation of Warrants and, in the case of any such loss, theft
or destruction, of an indemnity letter (reasonably satisfactory to the Company)
of an institutional holder of such Warrants, or in other cases, of a bond of indemnity
or other security satisfactory to the Company, or, in the case of any such
mutilation, upon surrender or cancellation of Warrants, the Company will issue
to the Holder a new Warrant of like tenor and date, in lieu of this Warrant or
such new Warrants, representing the right to purchase the number of shares
which may be purchased hereunder. 
Subject to compliance with Section 2, this Warrant and all rights
hereunder are transferable in whole or in part upon the books of the Company by
the registered holder hereof in person or by duly authorized attorney, and new
Warrants shall be made and delivered by the Company, of the same tenor and date
as this Warrant but registered in the name of the transferees, upon surrender
of this Warrant, duly endorsed, to the appropriate office or agency of the
Company.  All expenses, taxes (other than
stock transfer taxes) and other charges payable in connection with the
preparation, execution and delivery of Warrants pursuant to this Section 7
shall be paid by the Company.

 

8.             Transfer Books,
No Rights as Stockholder, Survival of Rights.  The Company will at no time close its
transfer books against the transfer of this Warrant or any Warrant Shares in
any manner which interferes with the timely exercise of this Warrant.  Except as expressly provided herein, this
Warrant shall not entitle the Holder to any voting rights or any rights as a
stockholder of the Company.  The rights
and obligations of the Company, of the Holder of this Warrant and of any Holder
of Warrant Shares issued upon exercise of this Warrant pursuant to the terms of
this Warrant shall survive the exercise of this Warrant.

 

9.             Omissions and
Indulgences; Amendment and Waiver.

 

(a)      It is
agreed that any waiver, permit, consent or approval of any kind or character on
the Holder’s part of any breach or default under this Warrant, or any waiver on
the Holder’s part of any provisions or conditions of this Warrant must be in
writing.

 

17

 

(b)      Any
amendment, supplement or modification of or to any provision of this Warrant,
any waiver of any provision of this Warrant and any consent to any departure by
any party from the terms of any provision of this Warrant shall be effective
only if it is made or given in writing and signed by the Company and the
Required Holders; provided, however, that no such amendment,
supplement or modification may be made without the written consent of the
Holder if such amendment, supplement or modification changes the Aggregate
Number, the Warrant Purchase Price or the expiration date of this Warrant.

 

(c)      Any
amendment or waiver consented to as provided in this Section 9 is binding upon
each future holder of this Warrant and upon the Company without regard to
whether this Warrant has been marked to indicate such amendment or waiver.

 

10.           Rights of
Transferees.  Subject to compliance
with Section 2, the rights granted to the Holder hereunder of this Warrant
shall pass to and inure to the benefit of all subsequent transferees of all or
any portion of the Warrant (provided that the Holder and any transferee shall
hold such rights in proportion to their respective ownership of the Warrant and
Warrant Shares) until extinguished pursuant to the terms hereof.

 

11.           Captions.  The titles and captions of the Sections and
other provisions of this Warrant are for convenience of reference only and are
not to be considered in construing this Warrant.

 

12.           Notices.  All notices, demands and other communications
provided for or permitted hereunder shall be made in writing and shall be by
registered or certified first-class mail, return receipt requested, telecopy,
overnight courier service or personal delivery:

 

(a)      if to
the Company:

 

Hawaiian Holdings, Inc.

3375 Koapaka Street

Suite G-350

Honolulu, Hawaii 
96819

 

Attention: Chief
Executive Officer

Facsimile: (808) 835-3690

 

with copies to:

 

Dechert LLP

30 Rockefeller
Plaza

New York, New York
10112

Attention: Charles
I. Weissman, Esq.

Facsimile: (212)
698-3599

 

(b)           if
to the Holder, at such Holder’s address as set forth on the books and records
of the Company

 

18

 

All such notices and communications shall be deemed to have been duly
given: when delivered by hand, if personally delivered; when delivered by
courier, if delivered by commercial overnight courier service; five (5)
Business Days after being deposited in the mail, postage prepaid, if mailed;
and when receipt is acknowledged, if telecopied.

 

13.           Successors and
Assigns.  This Warrant shall be
binding upon and inure to the benefit of the parties hereto and their
respective successors or heirs and personal representatives and permitted
assigns; provided, that the Company shall have no right to assign its
rights, or to delegate its obligations, hereunder without the prior written
consent of the Holder.

 

14.           Governing Law.  THIS WARRANT IS TO BE CONSTRUED AND ENFORCED
IN ACCORDANCE WITH AND GOVERNED BY THE LAWS OF THE STATE OF DELAWARE AND
WITHOUT REGARD TO THE PRINCIPLES OF CONFLICTS OF LAW OF SUCH STATE.

 

15.           Severability.  If any one or more of the provisions
contained herein, or the application thereof in any circumstance, is held
invalid, illegal or unenforceable in any respect for any reason, the validity,
legality and enforceability of any such provision in every other respect and of
the remaining provisions hereof shall not be in any way impaired, unless the
provisions held invalid, illegal or unenforceable shall substantially impair
the benefits of the remaining provisions hereof.  The parties hereto further agree to replace
such invalid, illegal or unenforceable provision of this Warrant with a valid,
legal and enforceable provision that will achieve, to the extent possible, the
economic, business and other purposes of such invalid, illegal or unenforceable
provision.

 

16.           Entire Agreement.  This Warrant contains the entire agreement
among the parties with respect to the subject matter hereof and thereby
supercedes all prior and contemporaneous agreements or understandings with
respect thereto.

 

17.           No Strict
Construction.  The Company and the
Holder each acknowledge that they have been represented by counsel in
connection with this Warrant.  The
Company and the Holder have participated jointly in the negotiation and
drafting of this Warrant.  In the event
an ambiguity or question of intent or interpretation arises under any provision
of this Warrant, this Warrant shall be construed as if drafted jointly by the
parties thereto, and no presumption or burden of proof shall arise favoring or
disfavoring any party by virtue of the authorship of any of the provisions of
this Warrant.

 

[REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

 

19

 

IN WITNESS WHEREOF, Hawaiian Holdings, Inc. has caused this Warrant to
be signed by its duly authorized officer under its corporate seal, duly
attested by its authorized officer, and dated as of the date first above
written.

 

 

	
  HAWAIIAN HOLDINGS, INC.

  	
   

  
	
   

  	
   

  
	
   

  	
   

  
	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Peter R. Ingram

  
	
   

  	
   

  	
  Title:

  	
  Chief Financial Officer
  and Treasurer

  
					

 

 

SUBSCRIPTION FORM

 

	
  To:

  	
  Hawaiian
  Holdings, Inc.

  
	
   

  	
  3375
  Koapaka Street

  
	
   

  	
  Suite
  G-350

  
	
   

  	
  Honolulu,
  HI 96819

  
	
   

  	
  Attention: Chief
  Executive Officer

  
	
   

  	
  Facsimile: (808)
  835-3690

  

 

 

1.             The undersigned, pursuant to the provisions of the
attached Warrant, hereby elects to exercise this Warrant with respect to             
shares of Common Stock (the “Exercise Amount”).  Capitalized terms used but not otherwise
defined herein have the meanings ascribed thereto in the attached Warrant.

 

2.             The undersigned herewith tenders payment for such shares
in the following manner (please check type, or types, of payment and indicate
the portion of the Exercise Price to be paid by each type of payment):

 

	
  o

  	
  Exercise for Cash

  	
   

  
	
  o

  	
  Reduction in Term Loan

  	
   

  

 

3.             Please issue a certificate or certificates representing
the shares issuable in respect hereof under the terms of the attached Warrant,
as follows:

 

	
   

  
	
  (Name of Record Holder/Transferee)

  

 

and deliver such certificate or certificates to the following address:

 

	
   

  
	
  (Address of Record Holder/Transferee)

  

 

4.             The undersigned represents that the aforesaid shares are
being acquired for the

account of the undersigned for investment and not with
a view to, or for resale in connection with, the distribution thereof and that
the undersigned has no present intention of distributing or reselling such
shares.

 

5.             If the Exercise Amount is less than all of the shares of
Common Stock purchasable hereunder, please issue a new warrant representing the
remaining balance of such shares, as follows:

 

	
   

  
	
  (Name of Record Holder/Transferee)

  

 

 

and deliver such warrant to the following address:

 

	
   

  
	
  (Address of Record Holder/Transferee)

  

 

 

	
   

  	
   

  
	
   

  	
   

  	
  (Signature)

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  (Date)

  	
   

  

 

2Exhibit 10.05

 

 

 

REGISTRATION RIGHTS AGREEMENT

 

BY AND AMONG

 

HAWAIIAN HOLDINGS, INC.

 

AND

 

THE HOLDERS PARTY HERETO

 

DATED AS OF MARCH 13, 2006

 

 

 

 

TABLE OF CONTENTS

 

	
   

  	
   

  	
   

  	
  Page

  
	
   

  	
   

  	
   

  	
   

  
	
  ARTICLE I.

  	
  DEFINITIONS

  	
  1

  
	
   

  	
   

  
	
   

  	
  Section 1.01.

  	
  Definitions

  	
  1

  
	
   

  	
   

  
	
  ARTICLE II.

  	
  REGISTRATION
  RIGHTS

  	
  4

  
	
   

  	
   

  
	
   

  	
  Section 2.01.

  	
  Demand Registration.

  	
  4

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 2.02.

  	
  Piggy-Back Registration

  	
  5

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 2.03.

  	
  Registration Expenses

  	
  6

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 2.04.

  	
  Registration Procedures

  	
  6

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 2.05.

  	
  Blackout Provisions

  	
  9

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 2.06.

  	
  Liquidated Damages

  	
  10

  
	
   

  	
   

  
	
  ARTICLE III.

  	
  INDEMNIFICATION

  	
  11

  
	
   

  	
   

  
	
   

  	
  Section 3.01.

  	
  Indemnification by the
  Company

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 3.02.

  	
  Indemnification by the
  Holders

  	
  11

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 3.03.

  	
  Conduct of
  Indemnification Proceedings

  	
  12

  
	
   

  	
   

  
	
  ARTICLE IV.

  	
  MISCELLANEOUS

  	
  13

  
	
   

  	
   

  
	
   

  	
  Section 4.01.

  	
  Rule 144 Reporting

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.02.

  	
  Holdback Agreement

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.03.

  	
  Termination of
  Registration Rights

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.04.

  	
  Amendment and
  Modification

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.05.

  	
  Binding Effect; Entire
  Agreement

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.06.

  	
  Severability

  	
  13

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.07.

  	
  Notices and Addresses

  	
  14

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.08.

  	
  Governing Law

  	
  14

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.09.

  	
  Headings

  	
  14

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.10.

  	
  Counterparts

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.11.

  	
  Further Assurances

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.12.

  	
  Remedies

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.13.

  	
  Pronouns

  	
  15

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Section 4.14.

  	
  Jurisdiction

  	
  15

  
											

 

i

 

REGISTRATION
RIGHTS AGREEMENT

 

REGISTRATION
RIGHTS AGREEMENT, dated as of March 13, 2006 (this “Agreement”), by
and among Hawaiian Holdings, Inc., a Delaware corporation (the “Company”),
and the Holders executing a signature page hereto. Unless otherwise
provided, capitalized terms used herein are defined in Article I below.

 

RECITALS:

 

A.                                   The Company, Hawaiian Airlines, Inc., a
Delaware corporation, as borrower (“Hawaiian”), Canyon Capital
Advisors, LLC, a Delaware limited liability company, as agent, and the lenders from time to time party thereto (the “Lenders”)
are party to that certain Credit Agreement, dated June 2, 2005 (as
amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”).

 

B.                                     Pursuant to an amendment to the Credit
Agreement of even date herewith, the Lenders are willing to provide additional
financing to Hawaiian pursuant to the terms and conditions set forth therein.

 

C.                                     In connection with the consummation of the
transactions contemplated by the Credit Agreement, warrants to purchase an
aggregate of 4,050,000 shares of Common Stock of the Company shall be issued or
issuable to the Lenders or their Affiliates (the “Warrants”).

 

D.                                    Pursuant
to the terms and conditions set forth in this Agreement, the Company herein grants
to the Lenders or their Affiliates registration rights with respect to the
shares of Common Stock of the Company issuable on the exercise of the Warrants.

 

E.                                      The
Company and the Holders party hereto desire to set forth certain agreements
herein.

 

AGREEMENT:

 

NOW, THEREFORE, in
consideration of the foregoing premises and the mutual covenants and agreements
contained herein and for other good and valuable consideration, the receipt and
adequacy of which are hereby acknowledged, intending to be legally bound, the
parties hereto agree as follows:

 

ARTICLE I.

DEFINITIONS

 

Section 1.01.                             Definitions.
The following terms shall have the meanings ascribed to them below:

 

“Affiliate”  has the meaning set forth in the Credit
Agreement.

 

 

“Agreement” means
this Agreement, as amended, modified or supplemented from time to time, in
accordance with the terms hereof, together with any exhibits, schedules or
other attachments thereto.

 

“Board” or “Board
of Directors” shall mean the Board of Directors of the Company.

 

“Commission” means
the United States Securities and Exchange Commission, or any other federal agency
at the time administering the Securities Act.

 

“Common Stock”
means the common stock, par value $0.01 per share, of the Company or other
publicly traded securities into which the Warrants are exercisable.

 

“Company” has the
meaning set forth in the preamble to this Agreement.

 

“Credit Agreement”
has the meaning set forth in recitals to this Agreement.

 

“Damages” has the
meaning set forth in Section 3.01.

 

“Demand Registration”
has the meaning set forth in Section 2.01(a).

 

“Designated
Registration Statement” shall mean Company’s Form S-1 Registration Statement, File No. 333-129503.

 

“Effectiveness
Date” means the date that is four months following the Filing Date.

 

“Exchange Act”
means the Securities Exchange Act of 1934, as amended, or any successor statute,
and the rules and regulations of the Commission thereunder, all as the
same shall be in effect at the time.

 

“Filing
Date” means the date that is two months following the date hereof.

 

“Hawaiian”
means Hawaiian Airlines, Inc., a Delaware corporation and wholly-owned
subsidiary of the Company.

 

“Holder” means any
Person owning of record Registrable Securities that have not been sold to the
public or any permitted assignee of record of such Registrable Securities.

 

“Indemnified Party”
has the meaning set forth in Section 3.03(c).

 

“Indemnifying Party”
has the meaning set forth in Section 3.03(c).

 

“Law” means any treaty, statute, ordinance, code,
rule, regulation, order or other legal requirement enacted, adopted,
promulgated, applied or followed by any governmental body.

 

“Lenders” has the
meaning set forth in the recitals to this Agreement.

 

2

 

“Person” means any
natural person, corporation, partnership, joint venture, association,
joint-stock company, trust, unincorporated organization or government or other
agency or political subdivision thereof.

 

“Piggy-Back
Registration” has the meaning set forth in Section 2.02(a).

 

“Registration Expenses”
has the meaning set forth in Section 2.03.

 

“Registrable Securities”
means the shares of Common Stock into which the Warrants are exercisable and
any additional shares of Common Stock acquired by the Holders by way of a
dividend, stock split, preemptive rights, recapitalization or other
distribution in respect of the Warrants, including additional shares of Common
Stock that may be issued pursuant to Section 2.06 hereof. As to any
particular Registrable Securities, once issued such securities shall cease to
be Registrable Securities when (i) a Registration Statement with respect
to the sale of such shares of Common Stock has been declared effective by the
Commission and such shares of Common Stock have been disposed of pursuant to
such effective Registration Statement, (ii) such shares of Common Stock
shall have been or all remaining Registrable Securities held by such Holder could
be sold under circumstances in which all of the applicable conditions of Rule 144(k)
(or any similar provisions then in force) under the Securities Act are met, (iii) such
shares of Common Stock have been otherwise transferred and the Company has
delivered a new certificate or other evidence of ownership for such Common
Stock not bearing a restrictive legend and not subject to any stop order and
such Common Stock may be publicly resold by the Person receiving such
certificate without complying with the registration requirements of the
Securities Act, or (iv) such shares of Common Stock shall have ceased to
be outstanding.

 

“Registration
Statement” means any registration statement of the Company which covers any
of the Registrable Securities pursuant to the provisions of this Agreement
(which registration statement may include the Designated Registration
Statement, if such
registration statement covers any of the Registrable Securities), including
the prospectus, amendments and supplements to such Registration Statement,
including post-effective amendments, all exhibits and all material incorporated
by reference in such Registration Statement.

 

“Securities Act”
means the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder, all as the same shall be
in effect at the time.

 

“Shelf Registration”
means a Registration Statement pursuant to a non-underwritten offering to be
made on a continuous basis pursuant to Rule 415 of the Securities Act.

 

“Underwriter”
means a securities dealer who purchases any Registrable Securities as principal
in an underwritten offering and not as part of such dealer’s market-making
activities.

 

“Warrants” has the meaning set forth
in the recitals.

 

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ARTICLE II.

REGISTRATION RIGHTS

 

Section 2.01.                             Demand
Registration.

 

(a)                                  Demand
Registration. Subject to the blackout provisions contained in Section 2.05,
the Holders shall have the right to require the Company to file a Registration
Statement under the Securities Act (a “Demand Registration”) covering
all or any part of their respective Registrable Securities, pursuant to a
non-underwritten offering to be made on a continuous basis pursuant to Rule 415
of the Securities Act, by delivering a written request therefor to the Company
specifying the number of Registrable Securities to be included in such
registration by such Holder or Holders and the intended method of distribution
thereof. As soon as practicable after the receipt of such demand, the Company
will use its commercially reasonable efforts to effect such registration
(including, without limitation, appropriate qualification under applicable blue
sky or other state securities laws and appropriate compliance with applicable
regulations issued under the Securities Act and any other governmental
requirements or regulations) of the Registrable Securities which the Company has
been so requested to register for distribution in accordance with such intended
method of distribution; provided, however, that the Company shall not be
obligated to take any action to effect any such Demand Registration, pursuant
to this Section 2.01(a):

 

(i)                                     if
Registrable Securities corresponding to at least 25% of the originally issued Registrable
Securities or having an aggregate market value of at least $5,000,000 (which
market value shall be determined by multiplying the number of Registrable
Securities to be included in the Demand Registration by the proposed per share
offering price) are not included in the Demand Registration;

 

(ii)                                  during
the period of time starting with the date 60 days immediately prior to the
Company’s estimated date of filing of, and ending on the date 90 days (or 180
days in the case of an underwritten public offering) immediately following the
effective date of any registration statement pertaining to securities issued
for the account of the Company (other than a registration of securities in a Rule 145
transaction or with respect to an employee benefit plan); provided that the
Company is actively employing in good faith all reasonable efforts to cause
such registration statement to become effective; provided, further, that the
Company shall not exercise such right more than once in any 12-month period; or

 

(iii)                               of
any Registrable Securities if such Registrable Securities are then covered by
an effective Registration Statement.

 

(b)                                 Effective
Registration. A registration will not be deemed to have been effected as a
Demand Registration unless it has been declared effective by the Commission and
the Company has complied in all material respects with its obligations under
this Agreement with respect thereto; provided that if, after it has become
effective, such registration or the related offer, sale or distribution of Registrable
Securities thereunder is or becomes the subject of any stop order, injunction
or other order or requirement of the Commission or any other governmental or
administrative agency, or if any court prevents or otherwise limits the sale of
the Registrable Securities pursuant to the registration, and, as a result
thereof, two-thirds of the Registrable Securities covered thereby have not been
sold, then such registration will be deemed not to have been effected. If (i) a
registration requested pursuant to this Section 2.01 is deemed not to have
been effected or (ii) the registration requested pursuant to this Section 2.01
does not

 

4

 

remain effective until
such time as when two-thirds of the Registrable Securities covered thereby have
been sold, then the Company shall continue to be obligated to effect such
registration pursuant to this Section 2.01 without giving effect to such
requested registration. Each Holder of Registrable Securities shall be
permitted to withdraw all or any part of its Registrable Securities from a
Demand Registration at any time prior to the effective date of such Demand
Registration, provided that such registration shall nonetheless count as a
Demand Registration under Section 2.01(a) hereof unless such
withdrawing Holder(s) agree(s) to be responsible for all reasonable fees and
expenses (including reasonable fees and expenses of counsel) incurred by the
Company prior to such withdrawal.

 

Section 2.02.                             Piggy-Back
Registration.

 

(a)                                  Notice
of Registration. If at any time the Company proposes to file a registration
statement under the Securities Act with respect to an offering by the Company
for its own account (other than a registration statement on Form S-4 or
S-8 (or any substitute form that may be adopted by the Commission))
or for the account of any of its security holders, the Company will give each
Holder written notice of such filing at least 20 days (5 days in the case of
the Designated Registration Statement) prior to filing such registration
statement and such notice shall offer each Holder the opportunity to register
the number of Registrable Securities as such Holder may request in writing.
Upon the written request of such Holder made within ten days (4 days in the
case of the Designated Registration Statement) after receipt of such notice by
the Company (which request shall specify the Registrable Securities intended to
be disposed of by such Holder), the Company shall include in such registration
all of the Registrable Securities specified in such request or requests in
accordance with the provisions of this Section 2.02(a) (a “Piggy-Back
Registration”).

 

(b)                                 Underwriting.
If the registration of which the Company gives notice is for a registered
public offering involving an underwriting, the Company shall so advise the Holders
as a part of the written notice given pursuant to Section 2.02(a) hereof.
In such event, the right of any Holder to registration pursuant to Section 2.02(a) hereof
shall be conditioned upon such Holder’s participation in such underwriting and
the inclusion of the Registrable Securities in the underwriting to the extent
provided herein. All Holders proposing to distribute their securities through
such underwriting shall (together with the Company) enter into an underwriting
agreement in customary form with the managing Underwriter selected for
such underwriting by the Company. The Company shall use its commercially
reasonable efforts to cause the managing Underwriter to permit the Registrable
Securities requested to be included in a Piggy-Back Registration to be included
on the same terms and conditions as any similar securities of the Company
(whether sold by the Company or a security holder other than the Holders)
included therein and to permit the sale or other disposition of such Registrable
Securities in accordance with the intended method of distribution thereof. Notwithstanding
anything to the contrary contained herein, if the managing underwriter advises
the Company in writing that in its reasonable opinion the number of equity
securities requested to be included in such Piggy-Back Registration exceeds the
number which can be sold in such offering, the Company will include in such
Piggy-Back Registration: (i) first, the number of shares of Common Stock
requested to be included by the holders of the Company exercising their demand
registration rights, if any, (ii) second, the number of shares to be
offered by the Company, and (iii) third, that number of other

 

5

 

shares of Common Stock
proposed to be included in such Piggy-Back Registration; and the Company shall
so advise all Holders of such limitation (or exclusion, if applicable).

 

(c)                                  Right
to Terminate Registration.

 

(i)                                     The
Company shall have the right to terminate or withdraw any registration
initiated by it under this Section 2.02 prior to the effectiveness of the
related Registration Statement and shall have no obligation to register any Registrable
Securities in connection with such registration, except to the extent provided
herein. The Registration Expenses of such withdrawn Piggy-Back Registration
shall be borne by the Company in accordance with Section 2.03 hereof.

 

(ii)                                  Any
Holder shall have the right to withdraw its request for inclusion of the
Registrable Securities in any Piggy-Back Registration by giving written notice
to the Company of its request to withdraw prior to the planned effective date
of the related Registration Statement.

 

Section 2.03.                             Registration
Expenses. In connection with registrations pursuant to Sections 2.01 and 2.02
hereof, the Company shall pay all of the registration expenses incurred in
connection with the registration thereunder (the “Registration Expenses”),
including, without limitation, all: (i) reasonable registration and filing
fees, (ii) reasonable fees and expenses of compliance with securities or
blue sky laws (including reasonable fees and disbursements of counsel in
connection with blue sky qualifications of the Registrable Securities), (iii) reasonable
processing, duplicating and printing expenses, (iv) of the Company’s
internal expenses (including, without limitation, all salaries and expenses of
its officers and employees performing legal or accounting duties), (v) fees
and expenses incurred in connection with the listing of the Registrable
Securities, (vi) fees and disbursements of counsel for the Company and
fees and expenses for independent certified public accountants retained by the
Company (including the expenses of any comfort letters or costs associated with
the delivery by independent certified public accountants of a comfort letter or
comfort letters requested but not the cost of any audit other than a year end
audit), (vii) fees and expenses of any special experts retained by the
Company in connection with such registration, and (viii) reasonable fees
and expenses of one firm of counsel for the Holders to be selected by the Holders
of a majority of the Registrable Securities to be included in such registration,
which must be the same firm used for any other secondary shares covered by such
registration (“Holders’ Counsel”), in an amount not to exceed $35,000. Notwithstanding
the foregoing, each Holder shall be responsible for any underwriting fees,
discounts or commissions attributable to the sale of the Registrable Securities
pursuant to a Registration Statement under the Securities Act.

 

Section 2.04.                             Registration
Procedures. In the case of each registration effected by the Company
pursuant to this Agreement, the Company will keep each Holder advised in
writing as to the initiation of each registration and as to the completion
thereof. In connection with any such registration:

 

(a)                                  The
Company will promptly prepare and file with the Commission a Registration
Statement on Form S-3 (unless the Company does not qualify for use of Form S-3,
in which case such registration statement shall be a Form S-1 or other form that
the Company is

 

6

 

eligible to use) under
the Securities Act (or another appropriate form reasonably acceptable to
the Holders) and use its commercially reasonable efforts to cause such
Registration Statement to become and remain effective until the completion of
the distribution contemplated thereby; provided, however, the Company shall not
be required to keep such Registration Statement effective for more than 180
days in the case of registrations effected pursuant to Sections 2.01 and 2.02
hereof (or such shorter period which will terminate when all Registrable
Securities covered by such Registration Statement have been sold); provided,
further, however that, in the case of a Shelf Registration, the Company shall
be required to keep such Registration Statement effective until the date when all Registrable Securities
covered by such Registration Statement cease to be Registrable Securities.

 

(b)                                 The
Company will promptly prepare and file with the Commission such amendments and
post-effective amendments to each Registration Statement as may be
necessary to keep such Registration Statement effective for as long as such
registration is required to remain effective pursuant to the terms hereof;
cause the prospectus to be supplemented by any required prospectus supplement,
and, as so supplemented, to be filed pursuant to Rule 424 under the
Securities Act; and comply with the provisions of the Securities Act applicable
to it with respect to the disposition of all Registrable Securities covered by
such Registration Statement during the applicable period in accordance with the
intended methods of disposition by the Holders set forth in such Registration
Statement or supplement to the prospectus.

 

(c)                                  The
Company, at least 10 days prior to filing a Registration Statement or at least
five days prior to filing a prospectus or any amendment or supplement to such
Registration Statement or prospectus, will furnish to (i) each Holder, (ii) Holders’
Counsel and (iii) each Underwriter, if any, of the Registrable Securities
covered by such Registration Statement copies of such Registration Statement
and each amendment or supplement as proposed to be filed, together with
exhibits thereto, which documents will be subject to reasonable review and
approval (which approval may not be unreasonably withheld) by each of the
foregoing within five days after delivery (except that such review and approval
of any prospectus or any amendment or supplement to such Registration Statement
or prospectus must be within three days), and thereafter, furnish to such
Holders, Holders’ Counsel and Underwriters, if any, such number of copies of
such Registration Statement, each amendment and supplement thereto (in each
case including all exhibits thereto and documents incorporated by reference
therein), the prospectus included in such Registration Statement (including
each preliminary prospectus) and such other documents or information as such
Holder, Holders’ Counsel or Underwriters may reasonably request in order
to facilitate the disposition of the Registrable Securities; provided, however,
that notwithstanding the foregoing, if the Company intends to file any
prospectus, prospectus supplement or prospectus sticker which does not make any
material changes in the documents already filed (including, without limitation,
any prospectus under Rule 430A, 430B, 430C or 424(b)), then Holders’
Counsel will be afforded such opportunity to review such documents prior to
filing consistent with the time constraints involved in filing such document,
but in any event no less than one day.

 

(d)                                 The
Company will promptly notify each Holder of any stop order issued or threatened
by the Commission and take all reasonable actions required to prevent the entry
of such stop order or to remove it at the earliest possible moment if entered.

 

7

 

(e)                                  On
or prior to the date on which the Registration Statement is declared effective,
the Company shall use its best efforts to register or qualify such Registrable
Securities under such other securities or “blue sky” laws of such jurisdictions
as any Holder reasonably requests and do any and all other acts and things
which may be necessary or advisable to enable the Holders to consummate
the disposition in such jurisdictions of such Registrable Securities; use
commercially reasonable efforts to keep each such registration or qualification
(or exemption therefrom) effective during the period which the Registration
Statement is required to be kept effective; and use commercially reasonable
efforts to do any and all other acts or things necessary or advisable to enable
the disposition in such jurisdictions of the Registrable Securities covered by
the applicable Registration Statement; provided that the Company will not be
required to (i) qualify generally to do business in any jurisdiction where
it would not otherwise be required to qualify but for this paragraph (e), (ii) subject
itself to taxation in any such jurisdiction or (iii) consent to general
service of process in any such jurisdiction.

 

(f)                                    The
Company will notify each Holder, Holders’ Counsel and any Underwriter promptly
and (if requested by any such Person) confirm such notice in writing, (i) when
a prospectus or any prospectus supplement or post-effective amendment has been
filed and, with respect to a Registration Statement or any post-effective
amendment, when the same has become effective, (ii) of any request by the
Commission or any other federal or state governmental authority for amendments
or supplements to a Registration Statement or prospectus or for additional
information to be included in any Registration Statement or prospectus or
otherwise, (iii) of the issuance by any state securities commission or
other regulatory authority of any order suspending the qualification or
exemption from qualification of any of the Registrable Securities under state
securities or “blue sky” laws or the initiation of any proceedings for that
purpose, and (iv) of the happening of any event which makes any statement
made in a Registration Statement or related prospectus or any document
incorporated or deemed to be incorporated by reference therein untrue or which
requires the making of any changes in such Registration Statement, prospectus
or documents so that they will not contain any untrue statement of a material
fact or omit to state any material fact required to be stated therein or
necessary to make the statements in the Registration Statement and prospectus
not misleading in light of the circumstances in which they were made; and, as
promptly as practicable thereafter, prepare and file with the Commission and
furnish a supplement or amendment to such prospectus so that, as thereafter
deliverable to the purchasers of such Registrable Securities, such prospectus
will not contain any untrue statement of a material fact or omit to state a
material fact necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading. Each Holder hereby
agrees to keep any disclosures under subsection (iv) above
confidential until such time as a supplement or amendment is filed.

 

(g)                                 The
Company will make generally available an earnings statement satisfying the
provisions of Section 11(a) of the Securities Act no later than 90
days after the end of the 12-month period beginning with the first day of the
Company’s first fiscal quarter commencing after the effective date of a
Registration Statement, which earnings statement shall cover said 12-month
period, and which requirement will be deemed to be satisfied if the Company
timely files complete and accurate information on Forms 10-Q, 10-K and 8-K
under the Exchange Act and otherwise complies with Rule 158 under the
Securities Act.

 

8

 

(h)                                 The
Company will enter into customary agreements reasonably satisfactory to the
Company (including, if applicable, an underwriting agreement in customary form and
which is reasonably satisfactory to the Company) and take such other actions as
are reasonably required in order to expedite or facilitate the disposition of
such Registrable Securities.

 

(i)                                     The
Company, during the period when the prospectus is required to be delivered
under the Securities Act, promptly will file all documents required to be filed
with the Commission pursuant to Section 13(a), 13(c), 14 or 15(d) of
the Exchange Act.

 

(j)                                     The
Company shall cause all such Registrable Securities registered hereunder to be
listed on each securities exchange on which similar securities of the same class issued
by the Company are then listed.

 

(k)                                  The
Company shall otherwise comply with all applicable rules and regulations
of the Commission.

 

The
Company may require each Holder to promptly furnish in writing to the
Company such information regarding the distribution of the Registrable
Securities as the Company may from time to time reasonably request and
such other information as may be legally required in connection with such
registration, including, without limitation, all such information as may be
requested by the Commission or the National Association of Securities Dealers, Inc.

 

Each
Holder agrees that, upon receipt of any notice from the Company of the
happening of any event of the kind described in Section 2.04(f) hereof,
such Holder will forthwith discontinue disposition of Registrable Securities
pursuant to the Registration Statement covering such Registrable Securities
until such Holder’s receipt of the copies of the supplemented or amended
Prospectus contemplated by Section 2.04(f) hereof, and, if so
directed by the Company, such Holder will deliver to the Company all copies,
other than permanent file copies then in such Holder’s possession, of the most
recent prospectus covering such Registrable Securities at the time of receipt
of such notice. In the event the Company shall give such notice, the Company
shall extend the period during which such Registration Statement shall be
maintained effective (including the period referred to in Section 2.04(a) hereof)
by the number of days during the period from and including the date of the
giving of notice pursuant to Section 2.04(f) hereof to the date when
the Company shall make available to the Holders a prospectus supplemented or
amended to conform with the requirements of Section 2.04(f) hereof.

 

Section 2.05.                             Blackout
Provisions.

 

(a)                                  Notwithstanding
anything in this Agreement to the contrary, by delivery of written notice to
any of the participating Holders (a “Suspension Notice”), stating which
one or more of the following limitations shall apply to the addressee of such
Suspension Notice, the Company may (1) postpone effecting a registration
under this Agreement, or (2) require such addressee to refrain from
disposing of Registrable Securities under the registration, in either case for
a period of no more than 90 consecutive days from the delivery of such
Suspension Notice (which period may not be extended or renewed). The
Company may postpone effecting a

 

9

 

registration or apply the limitations on dispositions specified in
clause 2 if (x) the Company in good faith determines that such registration or
disposition would materially impede, delay or interfere with any material
financing, offer or sale of equity securities of the Company, acquisition,
disposition or other material transaction by the Company or any of its material
subsidiaries, (y) an investment banking firm of recognized national standing
shall advise the Company in writing that effecting the registration or the
disposition by such person of Registrable Securities or other equity securities
of the Company, as the case may be, would materially and adversely affect
an offering of equity securities of the Company, by the Company for its own
account the preparation of which had then been commenced, or (z) the Company in
good faith determines that the Company is in possession of material non-public
information the disclosure of which during the period specified in such notice
the Company reasonably believes would not be in the best interests of the
Company; provided that the Company may not take any action pursuant to
this Section 2.05 for a period of time in excess of 120 days in any one
year period.

 

(b)                                 If
the Company shall take any action pursuant to clause 2 of Section 2.05(a) with
respect to any participating Holder in a period during which the Company shall
be required under Section 2.04(a) to cause the Registration Statement
to remain effective under the Securities Act and the prospectus to remain
current, such period shall be extended for such person by one day beyond the
end of such period for each day that, pursuant to Section 2.05(a), the
Company shall require such person to refrain from disposing of Registrable
Securities owned by such person.

 

Section 2.06.                             Liquidated
Damages.

 

(a)                                  Notwithstanding
anything herein to the contrary, if: (i) a Registration Statement is not
filed with the Commission on or prior to the Filing Date, or (ii) a
Registration Statement is not declared effective by the Commission on or prior
to the Effectiveness Date (any such failure being referred to as an “Event” and
the date on which such Event occurs being referred to as the “Event Date”),
then in addition to any other rights the Holders may have hereunder or
under applicable law: (x) on each such Event Date the Company shall pay to each
Holder, pro-rata in accordance with the number of Registrable Securities held
by each Holder, an amount equal to $75,000, payable at the Company’s option, in
either cash or additional shares of Common Stock, as liquidated damages; and
(y) on each monthly anniversary of each such Event Date (if the applicable
Event shall not have been cured by such date) until the applicable Event is
cured, the Company shall pay to each Holder, pro-rata in accordance with the
number of Registrable Securities held by each Holder, an amount equal to
$75,000, payable at the Company’s option, in either cash or additional shares
of Common Stock, as liquidated damages. Cash liquidated damages shall be paid
to the Holders of Registrable Securities entitled to receive such liquidated
damages by wire transfer in immediately available funds to the accounts designated
by such Holders.

 

(b)                                 In the event the filing or effectiveness of a
Registration Statement is delayed pursuant to the blackout provisions contained
in Section 2.05 hereof (other than any such delay relating to the
Designated Registration Statement, if such registration statement does not
cover the Registrable Securities), the Filing Date or the Effectiveness Date
(for the purposes

 

10

 

of calculating liquidated
damages pursuant to this Section 2.06), as applicable, shall be extended
for that number of days equal to such blackout period, not to exceed 120 days.

 

(c)                                  Notwithstanding
the foregoing, if an Event occurs solely because one or more Holders electing
to include Registrable Securities in the Registration Statement did not provide
the Company with information which is required to be disclosed in the
Registration Statement and which the Company reasonably required the Holders to
so provide in writing at least 15 days prior to the Filing Date and/or
Effectiveness Date, as the case may be, the Company’s obligation to pay
liquidated damages to such Holder(s) with respect thereto will not begin to
accrue until five business days after such information has been provided.

 

ARTICLE III.

INDEMNIFICATION

 

Section 3.01.                             Indemnification
by the Company. The Company agrees to indemnify and hold harmless, to the
fullest extent permitted by law, each Holder, each of its partners, officers,
directors, employees and agents, and each Person, if any, who controls such
Holder within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act, together with the partners, officers, directors, employees
and agents of such controlling Person (collectively, the “Controlling
Persons”), from and against any loss, claim, damage, liability, attorneys’
fees, costs and expenses of investigating and defending any such claim
(collectively, the “Damages”) and any action in respect thereof to which
such Holder, its partners, officers, directors, employees and agents, and any
such Controlling Person may become subject under the Securities Act or
otherwise, insofar as such Damages (or proceedings in respect thereof) arise
out of, or are based upon, any untrue statement or alleged untrue statement of
a material fact contained in any Registration Statement or prospectus or any
preliminary prospectus, or arise out of, or are based upon, any omission or
alleged omission to state therein a material fact required to be stated therein
or necessary to make the statements therein not misleading in light of the
circumstances in which they were made, except insofar as the same are based
upon information furnished in writing to the Company by such Holder expressly
for use therein, and shall reimburse such Holder, its partners, officers,
directors, employees and agents, and each such Controlling Person for any legal
and other expenses reasonably incurred by such Holder, its partners, officers,
directors, employees and agents, or any such Controlling Person in investigating
or defending or preparing to defend against any such Damages or proceedings.

 

Section 3.02.                             Indemnification by the Holders. Each Holder agrees, severally but not
jointly, to indemnify and hold harmless the Company, its officers, directors,
employees and agents and each Person, if any, who controls the Company within
the meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act, together with the partners, officers, directors, employees and
agents of such controlling Person, to the same extent as the foregoing
indemnity from the Company to the Holders, but only with reference to
information related to the Holders, or their plan of distribution, furnished in
writing by the Holders expressly for use in any Registration Statement or prospectus,
or any amendment or supplement thereto, or any preliminary prospectus. The
Holders not shall be required to indemnify any Person pursuant to

 

11

 

this
Section 3.02 for any amount in excess of the net proceeds of the Registrable
Securities sold for the account of the Holders.

 

Section 3.03.                             Conduct
of Indemnification Proceedings. Promptly after receipt by any Person in
respect of which indemnity may be sought pursuant to Section 3.01 or 3.02
(an “Indemnified Party”) of notice of any claim or the commencement of
any action, the Indemnified Party shall, if a claim in respect thereof is to be
made against the Person against whom such indemnity may be sought (an “Indemnifying
Party”), notify the Indemnifying Party in writing of the claim or the
commencement of such action; provided that the failure to notify the
Indemnifying Party shall not relieve it from any liability which it may have
to an Indemnified Party otherwise than under Section 3.01 or 3.02 except
to the extent of any actual prejudice resulting therefrom. If any such claim or
action shall be brought against an Indemnified Party, and it shall notify the
Indemnifying Party thereof, the Indemnifying Party shall be entitled to
participate therein, and, to the extent that it wishes, jointly with any other
similarly notified Indemnifying Party, to assume the defense thereof with
counsel reasonably satisfactory to the Indemnified Party. After notice from the
Indemnifying Party to the Indemnified Party of its election to assume the
defense of such claim or action, the Indemnifying Party shall not be liable to
the Indemnified Party for any legal or other expenses subsequently incurred by
the Indemnified Party in connection with the defense thereof other than reasonable
costs of investigation; provided, that, the Indemnified Party shall have the
right to employ separate counsel to represent the Indemnified Party and its
Controlling Persons who may be subject to liability arising out of any
claim in respect of which indemnity may be sought by the Indemnified Party
against the Indemnifying Party, but the fees and expenses of such counsel shall
be for the account of such Indemnified Party unless (i) the Indemnifying
Party and the Indemnified Party shall have mutually agreed to the retention of
such counsel or (ii) in the reasonable opinion of counsel to such
Indemnified Party, representation of both parties by the same counsel would be
inappropriate due to actual or potential conflicts of interest between them, it
being understood, however, that the Indemnifying Party shall not, in connection
with any one such claim or action or separate but substantially similar or
related claims or actions in the same jurisdiction arising out of the same
general allegations or circumstances, be liable for the fees and expenses of
more than one separate firm of attorneys who shall represent any other holders
of Registrable Securities whose securities were included in the same
registration statement absent any such conflict or potential conflict of
interest (together with appropriate local counsel) at any time for all
Indemnified Parties. No Indemnifying Party shall, without the prior written
consent of the Indemnified Party, effect any settlement of any claim or pending
or threatened proceeding in respect of which the Indemnified Party is or could
have been a party and indemnity could have been sought hereunder by such
Indemnified Party, unless such settlement includes an unconditional release of
such Indemnified Party from all liability arising out of such claim or
proceeding. Whether or not the defense of any claim or action is assumed by the
Indemnifying Party, such Indemnifying Party will not be subject to any
liability for any settlement made without its consent, which consent will not
be unreasonably withheld.

 

12

 

ARTICLE IV.

MISCELLANEOUS

 

Section 4.01.                             Rule 144
Reporting. With a view to making available the benefits of certain rules and
regulations of the Commission which may at any time permit the sale of the
Registrable Securities to the public without registration, the Company agrees,
so long as there are outstanding Registrable Securities, to use its
commercially reasonable efforts to file with the Commission in a timely manner
all reports and other documents as the Commission may prescribe under Section 13(a) or
15(d) of the Exchange Act at any time while the Company is subject to such
reporting requirements of the Exchange Act.

 

Section 4.02.                             Holdback
Agreement. Subject to the provisions hereof, in the event the Company
proposes to enter into an underwritten public offering, each Holder who
beneficially owns 5% or more of the outstanding Common Stock agrees to enter
into a customary agreement with the managing Underwriters not to effect any
sale or distribution of equity securities of the Company, or any securities
convertible, exchangeable or exercisable for or into such securities, during
the period beginning on the date of such offering and extending for up to 90
days if so requested by the Company and the Underwriters; provided that no
Holder shall be so obligated unless the Company and each other stockholder
beneficially owning 5% or more of the outstanding Common Stock enter into the
same or comparable lock-up agreement for the same period; provided, further,
that no Holder shall be obligated to enter into more than one such agreement in
any twelve-month period.

 

Section 4.03.                             Termination
of Registration Rights. The rights granted under this Agreement shall terminate
on the date on which the Holders no longer own Registrable Securities.

 

Section 4.04.                             Amendment
and Modification. This Agreement may be amended, modified and
supplemented, and any of the provisions contained herein may be waived,
only by a written instrument signed by the Company and each Holder.

 

Section 4.05.                             Binding
Effect; Entire Agreement. This Agreement and all of the provisions hereof
shall be binding upon and inure to the benefit of the parties hereto and their
respective successors and assigns and executors, administrators and heirs;
provided that any assigns of the Holders (including assigns of such assigns)
must execute a counterpart of this Agreement and agree to be fully bound
by the provisions contained herein; provided further that no transferee of a Holders,
except an Affiliate of such Holders (including a transferee of the assigns of a
Holders) shall have the benefit of such rights unless such transferee
beneficially owns at least 3% of the outstanding Common Stock after giving
effect to such transfer. This Agreement sets forth the entire agreement and
understanding between the parties as to the subject matter hereof and merges
and supersedes all prior discussions, agreements and understandings of any and
every nature among them.

 

Section 4.06.                             Severability.
In the event that any provision of this Agreement or the application of any
provision hereof is declared to be illegal, invalid or otherwise unenforceable
by a court of competent jurisdiction, the remainder of this Agreement shall not
be affected except to the extent necessary to delete such illegal, invalid or
unenforceable provision unless that provision held invalid shall substantially
impair the benefits of the remaining portions of this Agreement.

 

13

 

Section 4.07.                             Notices
and Addresses. Any notice, demand, request, waiver, or other communication
under this Agreement shall be in writing and shall be deemed to have been duly
given on the date of service, if personally served or sent by facsimile; on the
business day after notice is delivered to a courier or mailed by express mail,
if sent by courier delivery service or express mail for next day delivery; and
on the third day after mailing, if mailed to the party to whom notice is to be
given, by first class mail, registered, return receipt requested, postage
prepaid and addressed as follows:

 

If
to the Company:

 

Hawaiian Holdings, Inc. 

3375 Koapaka Street, Suite G-350 

Honolulu, HI 96819

Attention:  Peter R. Ingram, Chief
Financial Officer

Facsimile: (808) 835-3690

Telephone:  (808) 835-3030

 

with
a copy to:

 

Dechert
LLP

30
Rockefeller Plaza

New
York, New York 10112

Attention:  Charles I. Weissman , Esq.

Facsimile:   (212) 698-3599

Telephone:  (212) 698-3847

 

If to a Holder, at such address and facsimile number
listed on Schedule 1 hereto.

 

with a copy to:

 

Sidley
Austin LLP

555
West Fifth Street, 40th Floor

Los
Angeles, CA 90013

Attention:
Gary J. Cohen, Esq.

Facsimile:
(213) 896-6600

Telephone:
(213) 896-6013

 

Section 4.08.                             Governing
Law. This Agreement and (unless otherwise provided) all amendments hereof
and waivers and consents hereunder shall be governed by the internal Laws of
the State of Delaware, without regard to the conflicts of Law principles
thereof which would specify the application of the Law of another jurisdiction.

 

Section 4.09.                             Headings.
The headings in this Agreement are for convenience of reference only and shall
not constitute a part of this Agreement, nor shall they affect their
meaning, construction or effect.

 

14

 

Section 4.10.                             Counterparts.
This Agreement may be executed via facsimile and in any number of
counterparts, each of which shall be deemed to be an original instrument and
all of which together shall constitute one and the same instrument.

 

Section 4.11.                             Further
Assurances. Each party shall cooperate and take such action as may be
reasonably requested by another party in order to carry out the provisions and
purposes of this Agreement and the transactions contemplated hereby.

 

Section 4.12.                             Remedies.
In the event of a breach or a threatened breach by any party to this Agreement
of its obligations under this Agreement, any party injured or to be injured by
such breach will be entitled to specific performance of its rights under this
Agreement or to injunctive relief, in addition to being entitled to exercise
all rights provided in this Agreement and granted by law, it being agreed by
the parties that the remedy at law, inducing monetary damages, for breach of
any such provision will be inadequate compensation for any loss and that any
defense or objection in any action for specific performance or injunctive
relief that a remedy at law would be adequate is waived.

 

Section 4.13.                             Pronouns.
Whenever the context may require, any pronouns used herein shall be deemed
also to include the corresponding neuter, masculine or feminine forms.

 

Section 4.14.                             Jurisdiction.
Each Holder and the Company (a) hereby irrevocably and unconditionally
submits to the exclusive jurisdiction of any state or federal court sitting in the
State of Delaware for the purposes of any suit, action or other proceeding
arising out of this Agreement or the subject matter hereof brought by the
Company or any Holder, and (b) hereby waives and agrees not to assert, by
way of motion, as a defense, or otherwise, in any such suit, action or
proceeding, any claim that it is not subject personally to the jurisdiction of
the above-named courts, that its property is exempt or immune from attachment
or execution, that the suit, action or proceeding is brought in an inconvenient
forum, that the venue of the suit, action or proceeding is improper or that
this Agreement or the subject matter hereof may not be enforced in or by
such court.

 

[SIGNATURE PAGES FOLLOW]

 

15

 

IN
WITNESS WHEREOF, the parties hereto have executed this Agreement on the day and
year first above written.

 

	
   

  	
  HAWAIIAN HOLDINGS, INC.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
  Peter R. Ingram

  
	
   

  	
   

  	
  Title:

  	
  Chief Financial Officer and Treasurer

  
					

 

[Signature Page to Registration
Rights Agreement]

 

 

	
   

  	
  HOTEL ALPHA HOLDING COMPANY, LLC

  
	
   

  
	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  	
   

  	
   

  
	
   

  	
   

  	
  Title:

  
						

 

[Signature Page to Registration
Rights Agreement]

 

 

	
   

  	
  D.B. ZWIRN SPECIAL OPPORTUNITIES

  
	
   

  	
  FUND, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  D.B. Zwirn Partners, LLC,

  	
   

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Zwirn Holdings, LLC,

  	
   

  
	
   

  	
   

  	
  its managing member

  
	
   

  
	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
							

 

[Signature Page to Registration
Rights Agreement]

 

 

	
   

  	
  QVT FUND LP

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By: its general partner, QVT Associates GP LLC

  	
   

  
	
   

  
	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
					

 

[Signature Page to Registration Rights Agreement]

 

 

	
   

  	
  DEUTSCHE BANK AG, LONDON BRANCH

  
	
   

  	
   

  	
   

  
	
   

  	
  By:  its investment manager,
  QVT Financial LP

  
	
   

  	
   

  	
   

  
	
   

  	
  By:  its general partner, QVT
  Financial GP LLC

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  
					

 

[Signature Page to Registration
Rights Agreement]

 

 

	
   

  	
  ORE HILL FUND LP

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

[Signature Page to Registration
Rights Agreement]

 

 

	
   

  	
  GOLDENTREE CAPITAL SOLUTIONS FUND

  
	
   

  	
  FINANCING

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

[Signature Page to Registration
Rights Agreement]

 

 

	
   

  	
  GOLDENTREE CAPITAL OPPORTUNITIES, LP

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

[Signature Page to Registration
Rights Agreement]

 

 

	
   

  	
  CONTEXT CONVERTIBLE ARBITRAGE FUND,

  
	
   

  	
  L.P.

  
	
   

  	
   

  
	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

[Signature Page to Registration
Rights Agreement]

 

 

	
   

  	
  CONTEXT CONVERTIBLE ARBITRAGE

  
	
   

  	
  OFFSHORE, LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
   

  
	
   

  	
   

  	
  Name:

  
	
   

  	
   

  	
  Title:

  

 

[Signature Page to Registration
Rights Agreement]

 

 

Schedule 1 
-  Holders

 

	
  Name

  	
   

  	
  Address and Facsimile Number

  
	
   

  	
   

  	
   

  
	
  HOTEL ALPHA HOLDINGS, LLC

  	
   

  	
  9665 Wilshire Boulevard, Suite 200

  
	
   

  	
   

  	
  Beverly Hills, CA 90212

  
	
   

  	
   

  	
  Attention: Jack Hersch

  
	
   

  	
   

  	
  Facsimile: (310) 247-2701

  
	
   

  	
   

  	
   

  
	
  D.B. ZWIRN SPECIAL
  OPPORTUNITIES FUND, L.P.

  	
   

  	
  745 Fifth Avenue, 18th Floor

  
	
   

  	
   

  	
  New York, NY 10151

  
	
   

  	
   

  	
  Attention: Vasan Kesavan

  
	
   

  	
   

  	
  Facsimile: (646) 720-9105

  
	
   

  	
   

  	
   

  
	
  QVT FUND LP

  	
   

  	
  527 Madison Avenue, 8th Floor

  
	
   

  	
   

  	
  New York, NY 10022

  
	
   

  	
   

  	
  Attention: Fati Sadeghi-Nejad

  
	
   

  	
   

  	
  Facsimile: (212) 705-8820

  
	
   

  	
   

  	
   

  
	
  DEUTSCHE BANK AG, LONDON BRANCH

  	
   

  	
  c/o QVT Financial LP

  
	
   

  	
   

  	
  527 Madison Avenue, 8th Floor

  
	
   

  	
   

  	
  New York, NY 10022

  
	
   

  	
   

  	
  Attention: Fati Sadeghi-Nejad

  
	
   

  	
   

  	
  Facsimile: (212) 705-8820

  
	
   

  	
   

  	
   

  
	
  ORE HILL FUND LP

  	
   

  	
  650 Fifth Avenue, 9th Floor

  
	
   

  	
   

  	
  New York, New York 10019

  
	
   

  	
   

  	
  Attention: Claude A. Baum

  
	
   

  	
   

  	
  Facsimile: (212) 389-2332

  
	
   

  	
   

  	
   

  
	
  GOLDENTREE CAPITAL SOLUTIONS FUND FINANCING

  	
   

  	
  300 Park Avenue, 21st Floor

  
	
   

  	
   

  	
  New York, NY 10022

  
	
   

  	
   

  	
  Attention: Barry Ritholz

  
	
   

  	
   

  	
  Facsimile: (212) 847-3537

  
	
   

  	
   

  	
   

  
	
  GOLDENTREE CAPITAL OPPORTUNITIES

  	
   

  	
  300 Park Avenue, 21st Floor

  
	
   

  	
   

  	
  New York, NY 10022

  
	
   

  	
   

  	
  Attention: Barry Ritholz

  
	
   

  	
   

  	
  Facsimile: (212) 847-3537

  
	
   

  	
   

  	
   

  
	
  CONTEXT CONVERTIBLE ARBITRAGE FUND, L.P.

  	
   

  	
  12626 High Bluff Drive

  
	
   

  	
   

  	
  Suite 440

  
	
   

  	
   

  	
  San Diego, CA 92130

  
	
   

  	
   

  	
  Attention: Michael Escobedo

  
	
   

  	
   

  	
  Facsimile: (858) 481-3667

  

 

 

	
  CONTEXT CONVERTIBLE ARBITRAGE OFFSHORE, LTD.

  	
   

  	
  12626 High Bluff Drive

  
	
   

  	
   

  	
  Suite 440

  
	
   

  	
   

  	
  San Diego, CA 92130

  
	
   

  	
   

  	
  Attention: Michael Escobedo

  
	
   

  	
   

  	
  Facsimile: (858) 481-3667

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