Document:

exv10w2

 

Exhibit 10.2

Summary of Compensatory Arrangements with Executive Officers

Set forth below is a summary of the compensation paid by Lamar Advertising Company (the “Company”)
to its executive officers effective January 1, 2005. All of the Company’s executive officers are
at-will employees whose compensation and employment status may be changed at any time at the
discretion of the Company’s Board of Directors or the Compensation Committee of the Board of
Directors (the “Compensation Committee”) pursuant to authority delegated to it by the Board of
Directors.

Base Salary. Effective January 1, 2005, the Company’s executive officers are scheduled to receive
the following annual base salaries in their current positions:

	 	 	 
	Name and Current Position	 	2005 Salary
	Kevin P. Reilly, Jr.
	 	 
	President and Chief Executive Officer
	 	$550,000
	Sean E. Reilly
	 	 
	Chief Operating Officer and Vice President
	 	$425,000
	Keith A. Istre
	 	 
	Chief Financial Officer and Treasurer
	 	$425,000

Annual Incentive Bonus. The Company’s executive officers are also eligible to receive an annual
cash bonus. Each year the Compensation Committee determines the annual bonuses for each executive
officer based, in part, upon the recommendations of the Chief Executive Officer in conjunction with
an evaluation of individual and Company performance.

Benefits and Other Arrangements

In addition to base salary and bonus, each of the Company’s executive officers is eligible to
participate in the following:

	•  	The Company’s 1996 Equity Incentive Plan (filed as Exhibit 10.2
to the Company’s Form 10-Q for the period ended June 30,
2004),
under which stock options and other equity compensation may be
granted at the discretion of the Compensation Committee.

	•  	The Company’s Deferred Compensation Plan (filed as Exhibit 10.15
to the Company’s Form 10-K for the year ended December 31, 2004),
under which the Company makes an annual contribution on behalf of
eligible employees who satisfy certain age, years of service and
management classification requirements.

	•  	The Company’s 401(k) profit-sharing plan and other health and
benefit plans generally available to officers/employees of the
Company.

Additional information about compensation for the Company’s executive officers, including 2004 cash
bonus awards and equity awards, is set forth in the Proxy Statement for the Company’s 2005 Annual
Meeting of Stockholders, which was filed with the SEC on April 22, 2005.exv10w3

 

Exhibit 10.3

Lamar Advertising Company

Non-Management Director Compensation Plan

(effective October 1, 2004)

Director Fees

	 	 	 	 	 	 	 	 	 
	Recipient	 	Annual Fee	 	Payment Schedule
	Each non-management director
	 	$	36,000	*	 	monthly
	 
	 	 	 	 	 	 	 	 
	Each
director who serves on at least one Committee of the Board
of Directors
	 	$	9,000	 	 	quarterly
	 
	 	 	 	 	 	 	 	 
	Chair of the Audit Committee
	 	$	9,000	 	 	quarterly
	 
	 	 	 	 	 	 	 	 
	Chair of Compensation Committee and
Nominating and Governance
Committee1
	 	$	4,500	 	 	quarterly

*Non-management directors are also reimbursed for travel expenses incurred to attend board and
committee meetings and expenses incurred to perform other, related responsibilities.

Stock Options

      At the discretion our Compensation Committee, our independent, non-management directors may
also receive option grants from time to time.

	1	The same director currently serves as chair of both committees.<PAGE>

                                    AMENDMENT
                                     TO THE
                             CROSSTEX ENERGY GP, LLC
                            LONG-TERM INCENTIVE PLAN

                  WHEREAS, Crosstex Energy GP, LLC (the "Company") is the
general partner of Crosstex Energy GP, L.P., which is the general partner of
Crosstex Energy, L.P.;

                  WHEREAS, the Board of Directors of the Company (the "Board")
has previously adopted the Crosstex Energy GP, LLC Long-Term Incentive Plan (the
"Plan"); and

                  WHEREAS, on May 2, 2005, pursuant to the terms of the Plan,
the Compensation Committee approved and adopted the amendment to the Plan as set
forth herein.

                  NOW THEREFORE, the Company does hereby amend the Plan, as
follows:

         1. Section 4(a) of the Plan is deleted in its entirety and the
following is substituted in its place:

                  "(a) Units Available. Subject to adjustment as provided in
         Section 4(c), the number of Units with respect to which Restricted
         Units and Options may be granted under the Plan is 1,800,000. If any
         Option or Restricted Unit is forfeited or otherwise terminates or is
         canceled without the delivery of Units, then the Units covered by such
         Award, to the extent of such forfeiture, termination or cancellation,
         shall again be Units with respect to which Options or Restricted Units
         may be granted, as the case may be."

         2. This Amendment shall amend only the provision of the Plan set forth
herein, and those Sections, paragraphs and sentences not expressly amended
hereby shall remain in full force and effect.

         3. This Amendment shall become effective as of May 2, 2005.

<PAGE>

                  IN WITNESS WHEREOF, the undersigned has executed this
Amendment as of May 2, 2005.

                               CROSSTEX ENERGY, L.P.

                               By: Crosstex Energy GP, L.P., its General Partner

                               By: Crosstex Energy GP, LLC, its General Partner

                               By:      /s/ William W. Davis
                                   --------------------------------------------
                                        William W. Davis
                                        Executive Vice President and
                                        Chief Financial Officerexv10w1

 

Exhibit 10.1

LIN TELEVISION CORPORATION

$175,000,000

6 1/2% Senior Subordinated Notes due 2013

EXCHANGE AND REGISTRATION RIGHTS AGREEMENT

January 28, 2005

J. P. MORGAN SECURITIES INC.

DEUTSCHE BANK SECURITIES INC.

BANC OF AMERICA SECURITIES LLC

BEAR, STEARNS & CO. INC.

MORGAN STANLEY & CO. INCORPORATED

SCOTIA CAPITAL (USA) INC.

c/o J.P. Morgan Securities Inc.

270 Park Avenue, 5th Floor

New York, New York 10017

Ladies and Gentlemen:

          LIN Television Corporation, a Delaware corporation (the “Company”), proposes to issue
and sell to J.P. Morgan Securities Inc., Deutsche Bank Securities Inc., Banc of America Securities
LLC, Bear Stearns & Co. Inc., Morgan Stanley & Co. Incorporated and Scotia Capital (USA) Inc.
(together, the “Initial Purchasers”), upon the terms and subject to the conditions set
forth in a purchase agreement dated January 13, 2005 (the “Purchase Agreement”) between the
Company, the Guarantors identified on the signature pages hereto (together with the Company, the
“Issuers”) and the Initial Purchasers, $175,000,000 aggregate principal amount of its 61/2%
Senior Subordinated Notes due 2013 (the “Notes”). The Notes will be guaranteed on an
unsecured senior subordinated basis (the “Guarantees” and, together with the Notes, the
“Securities”) by the Guarantors. Capitalized terms used but not defined herein shall have
the meanings given to such terms in the Purchase Agreement.

          As an inducement to the Initial Purchasers to enter into the Purchase Agreement and in
satisfaction of a condition to the obligations of the Initial Purchasers thereunder, the Issuers
agree with the Initial Purchasers, for the benefit of the holders (including the Initial
Purchasers) of the Securities, the Exchange Securities (as defined herein) and the Private Exchange
Securities (as defined herein) (collectively, the “Holders”), as follows:

          1. Registered Exchange Offer. The Issuers shall (i) use their reasonable best efforts
to prepare and, not later than 90 days following the date of original issuance of the Securities
(the “Issue Date”), file with the Commission a registration statement (the “Exchange
Offer Registration Statement”) on an appropriate form under the Securities Act with respect to
a proposed offer to the Holders of the Securities (the “Registered Exchange Of-

 

 

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fer”) to issue and deliver to such Holders, in exchange for the Securities, a like
aggregate principal amount of debt securities of the Company that are identical in all material
respects to the Notes and are unconditionally guaranteed by the Guarantors (the “Exchange
Securities”), except that the Exchange Securities will not contain terms with respect to
transfer restrictions, (ii) use their reasonable best efforts to cause the Exchange Offer
Registration Statement to become effective under the Securities Act no later than 180 days after
the Issue Date and the Registered Exchange Offer to be consummated no later than 225 days after the
Issue Date and (iii) keep the Exchange Offer Registration Statement effective for not less than 30
days (or longer, if required by applicable law) after the date on which notice of the Registered
Exchange Offer is mailed to the Holders (such period being called the “Exchange Offer
Registration Period”). The Exchange Securities will be issued under the Indenture or an
indenture (the “Exchange Securities Indenture”) between the Company, the Guarantors party
thereto and the Trustee or such other bank or trust company that is reasonably satisfactory to the
Initial Purchasers, as trustee (the “Exchange Securities Trustee”), such indenture to be
identical in all material respects to the Indenture, except with respect to the transfer
restrictions relating to the Securities (as described above).

          Upon the effectiveness of the Exchange Offer Registration Statement, the Issuers shall as soon
as practicable commence the Registered Exchange Offer, it being the objective of such Registered
Exchange Offer to enable each Holder electing to exchange Securities for Exchange Securities
(assuming that such Holder (a) is not an affiliate (as defined in Rule 405 under the Securities
Act) of the Issuers or an Exchanging Dealer (as defined herein) not complying with the requirements
of the next sentence, (b) is not an Initial Purchaser holding Securities that have, or that are
reasonably likely to have, the status of an unsold allotment in an initial distribution, (c)
acquires the Exchange Securities in the ordinary course of such Holder’s business, and (d) has no
arrangements or understandings with any person to participate in the distribution of the Exchange
Securities) and to trade such Exchange Securities from and after their receipt without any
limitations or restrictions under the Securities Act and without material restrictions under the
securities laws of the several states of the United States. Each Issuer, each Initial Purchaser
and each Exchanging Dealer acknowledges that, pursuant to current interpretations by the
Commission’s staff of Section 5 of the Securities Act, (i) each Holder that is a broker-dealer
electing to exchange Securities acquired for its own account as a result of market-making
activities or other trading activities for Exchange Securities (an “Exchanging Dealer”) is
required to deliver a prospectus containing substantially the information set forth in Annex
A hereto on the cover of such prospectus, in Annex B hereto in the “Exchange Offer
Procedures” and “Purpose of the Exchange Offer” sections of such prospectus, and in Annex C
hereto in the “Plan of Distribution” section of such prospectus in connection with a sale of any
such Exchange Securities received by such Exchanging Dealer pursuant to the Registered Exchange
Offer and (ii) if any Initial Purchaser elects to sell Private Exchange Securities (as defined
below) acquired in exchange for Securities constituting any portion of an unsold allotment, it is
required to deliver a prospectus containing the information required by Items 507 and 508 of
Regulation S-K under the Securities Act and the Exchange Act (“Regulation S-K”), as
applicable, in connection with such sale.

 

 

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          Upon consummation of the Registered Exchange Offer in accordance with this Section 1, the
provisions of this Agreement shall continue to apply, mutatis mutandis, solely with respect to
Transfer Restricted Securities (as defined) that are Private Exchange Securities, Exchange
Securities as to which clause (v) of the first paragraph of Section 2 is applicable and Exchange
Securities held by Exchanging Dealers, and the Issuers shall have no further obligations to
register Transfer Restricted Securities (other than Private Exchange Securities and other than in
respect of any Exchange Securities as to which clause (v) of the first paragraph of Section 2
hereof applies) pursuant to Section 2 hereof.

          If, prior to the consummation of the Registered Exchange Offer, any Holder holds any
Securities acquired by it that have, or that are reasonably likely to be determined to have, the
status of an unsold allotment in an initial distribution, or any Holder is not entitled to
participate in the Registered Exchange Offer, the Issuers shall, upon the request of any such
Holder, simultaneously with the delivery of the Exchange Securities in the Registered Exchange
Offer, issue and deliver to any such Holder, in exchange for the Securities held by such Holder
(the “Private Exchange”), a like aggregate principal amount of debt securities of the
Company and the Guarantors that are identical in all material respects to the Exchange Securities
(the “Private Exchange Securities”), except with respect to the transfer restrictions
relating to such Private Exchange Securities. The Private Exchange Securities will be issued under
the same indenture as the Exchange Securities, and the Company shall use its reasonable best
efforts to cause the Private Exchange Securities to bear the same CUSIP number as the Exchange
Securities.

          In connection with the Registered Exchange Offer, the Issuers shall:

     (a) mail to each Holder a copy of the prospectus forming part of the Exchange Offer
Registration Statement, together with an appropriate letter of transmittal and related
documents;

     (b) keep the Registered Exchange Offer open for not less than 30 days (or longer, if
required by applicable law) after the date on which notice of the Registered Exchange Offer
is mailed to the Holders;

     (c) utilize the services of a depositary for the Registered Exchange Offer with an
address in the Borough of Manhattan, The City of New York;

     (d) permit Holders to withdraw tendered Securities at any time prior to the close of
business, New York City time, on the last business day on which the Registered Exchange
Offer shall remain open; and

     (e) otherwise comply in all respects with all laws that are applicable to the
Registered Exchange Offer.

          As soon as practicable after the close of the Registered Exchange Offer and any Private
Exchange, as the case may be, the Issuers shall:

 

 

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     (a) accept for exchange all Securities tendered and not validly withdrawn pursuant to
the Registered Exchange Offer and the Private Exchange Offer;

     (b) deliver to the Trustee for cancellation all Securities so accepted for exchange;
and

     (c) cause the Trustee or the Exchange Securities Trustee, as the case may be, promptly
to authenticate and deliver to each Holder, Exchange Securities or Private Exchange
Securities, as the case may be, equal in principal amount to the Securities of such Holder
so accepted for exchange.

          The Issuers shall use their reasonable best efforts to keep the Exchange Offer Registration
Statement effective and to amend and supplement the prospectus contained therein in order to permit
such prospectus to be used by all persons subject to the prospectus delivery requirements of the
Securities Act for such period of time as such persons must comply with such requirements in order
to resell the Exchange Securities; provided that the Issuers shall make such prospectus and
any amendment or supplement thereto available to any broker-dealer for use in connection with any
resale of any Exchange Securities for a period of 90 days after the consummation of the Registered
Exchange Offer.

          The Indenture or the Exchange Securities Indenture, as the case may be, shall provide that the
Securities, the Exchange Securities and the Private Exchange Securities shall vote and consent
together on all matters as one class and that none of the Securities, the Exchange Securities or
the Private Exchange Securities will have the right to vote or consent as a separate class on any
matter.

          Interest on each Exchange Security and Private Exchange Security issued pursuant to the
Registered Exchange Offer and in the Private Exchange will accrue from the last interest payment
date on which interest was paid on the Securities surrendered in exchange therefor or, if no
interest has been paid on the Securities, from the Issue Date.

          Each Holder participating in the Registered Exchange Offer shall be required to represent to
the Issuers that at the time of the consummation of the Registered Exchange Offer (i) any Exchange
Securities received by such Holder will be acquired in the ordinary course of business, (ii) such
Holder will have no arrangements or understanding with any person to participate in the
distribution of the Securities or the Exchange Securities within the meaning of the Securities Act
and (iii) such Holder is not an affiliate (as defined in Rule 405 under the Securities Act) of any
of the Issuers or, if it is such an affiliate, such Holder will comply with the registration and
prospectus delivery requirements of the Securities Act to the extent applicable.

          Notwithstanding any other provisions hereof, each of the Issuers will ensure that (i) any
Exchange Offer Registration Statement and any amendment thereto and any prospectus forming part
thereof and any supplement thereto complies in all material respects with the Securities Act and
the rules and regulations of the Commission thereunder, (ii) any Exchange Offer Registration
Statement and any amendment thereto does not, when it be-

 

 

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comes effective, contain an untrue statement of a material fact or omit to state a material
fact required to be stated therein or necessary to make the statements therein not misleading, and
(iii) any prospectus forming part of any Exchange Offer Registration Statement, and any supplement
to such prospectus, does not, as of the consummation of the Registered Exchange Offer, include an
untrue statement of a material fact or omit to state a material fact necessary in order to make the
statements therein, in the light of the circumstances under which they were made, not misleading.

          2. Shelf Registration. If (i) because of any change in law or applicable
interpretations thereof by the Commission’s staff the Issuers are not permitted to effect the
Registered Exchange Offer as contemplated by Section 1 hereof, or (ii) any Securities validly
tendered pursuant to the Registered Exchange Offer are not exchanged for Exchange Securities within
225 days after the Issue Date, or (iii) any Initial Purchaser so requests in writing within 90 days
after the Registered Exchange Offer with respect to Private Exchange Securities, or (iv) any
applicable law or interpretations do not permit any Holder to participate in the Registered
Exchange Offer, or (v) any Holder that participates in the Registered Exchange Offer does not
receive freely transferable Exchange Securities in exchange for tendered Securities, or (vi) the
Issuers so elect, then the following provisions shall apply:

     (a) The Issuers shall use their reasonable best efforts to file as promptly as
practicable (but in no event more than 90 days after so required or requested, in each case
pursuant to this Section 2) with the Commission, and thereafter shall use their reasonable
best efforts to cause to be declared effective, a shelf registration statement on an
appropriate form under the Securities Act relating to the offer and sale of the Transfer
Restricted Securities by the Holders thereof from time to time in accordance with the
methods of distribution set forth in such registration statement (hereafter, a “Shelf
Registration Statement” and, together with any Exchange Offer Registration Statement, a
“Registration Statement”); provided, however, that no Holder of
Securities or Exchange Securities (other than the Initial Purchasers) shall be entitled to
have Securities or Exchange Securities held by it covered by such Shelf Registration
Statement, unless such Holder agrees in writing to be bound by all of the provisions of this
Agreement applicable to such Holder.

     (b) The Issuers shall use their reasonable best efforts to keep the Shelf Registration
Statement continuously effective in order to permit the prospectus forming part thereof to
be used by Holders of Transfer Restricted Securities for a period ending on the earlier of
two years from the Issue Date or the date on which all the Transfer Restricted Securities
covered by the Shelf Registration Statement have been sold pursuant thereto (in any such
case, such period being called the “Shelf Registration Period”). The Issuers shall
be deemed not to have used their reasonable best efforts to keep the Shelf Registration
Statement effective during the requisite period if they voluntarily take any action that
would result in Holders of Transfer Restricted Securities covered thereby not being able to
offer and sell such Transfer Restricted Securities during that period, unless such action is
required by applicable law; provided, however, that the foregoing shall not
apply to actions taken by the Issuers in good faith and for valid business reasons (not
including avoidance of their

 

 

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obligations hereunder), including, without limitation, the acquisition or divestiture
of assets, so long as the Issuers within 120 days thereafter comply with the requirements of
Section 4(j) hereof. Any such period during which the Issuers fail to keep the Shelf
Registration Statement effective and usable for offers and sales of Securities and Exchange
Securities is referred to as a “Suspension Period.” A Suspension Period shall commence on
and include the date that the Issuers give notice that the Shelf Registration Statement is
no longer effective or the prospectus included therein is no longer usable for offers and
sales of Securities and Exchange Securities and shall end on the date when each Holder of
Securities and Exchange Securities covered by such registration statement either receives
the copies of the supplemented or amended prospectus contemplated by Section 4(j) hereof or
is advised in writing by the Issuers that use of the prospectus may be resumed. If one or
more Suspension Periods occur, the two-year period referenced above shall be extended by the
aggregate of the number of days included in each Suspension Period.

     (c) Notwithstanding any other provisions hereof, the Issuers will ensure that (i) any
Shelf Registration Statement and any amendment thereto and any prospectus forming part
thereof and any supplement thereto complies in all material respects with the Securities Act
and the rules and regulations of the Commission thereunder, (ii) any Shelf Registration
Statement and any amendment thereto (in either case, other than with respect to information
included therein in reliance upon or in conformity with written information furnished to the
Issuers by or on behalf of any Holder specifically for use therein (the “Holders’
Information”)) does not contain an untrue statement of a material fact or omit to state
a material fact required to be stated therein or necessary to make the statements therein
not misleading and (iii) any prospectus forming part of any Shelf Registration Statement,
and any supplement to such prospectus (in either case, other than with respect to Holders’
Information), does not include an untrue statement of a material fact or omit to state a
material fact necessary in order to make the statements therein, in the light of the
circumstances under which they were made, not misleading.

          3. Liquidated Damages. (a) The parties hereto agree that the Holders of Transfer
Restricted Securities will suffer damages if the Issuers fail to fulfill their obligations under
Section 1 or Section 2, as applicable, and that it would not be feasible to ascertain the extent of
such damages. Accordingly, if (i) the applicable Registration Statement is not filed with the
Commission on or prior to 90 days after the Issue Date, (ii) the Exchange Offer Registration
Statement or the Shelf Registration Statement, as the case may be, is not declared effective within
180 days after the Issue Date (or in the case of a Shelf Registration Statement required to be
filed in response to a change in law or the applicable interpretations of the Commission’s staff,
if later, within 45 days after publication of the change in law or interpretation), (iii) the
Registered Exchange Offer is not consummated on or prior to 225 days after the Issue Date, or (iv)
the Shelf Registration Statement is filed and declared effective within 180 days after the Issue
Date (or in the case of a Shelf Registration Statement required to be filed in response to a change
in law or the applicable interpretations of the Commission’s staff, if later, within 45 days after
publication of the change in law or interpretation) but shall thereafter cease to be effective (at
any time that the Issuers are obligated to

 

 

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maintain the effectiveness thereof) without being succeeded within 60 days by an additional
Registration Statement filed and declared effective (each such event referred to in clauses (i)
through (iv), a “Registration Default”), the Company and the Guarantors (other than LIN TV
Corp.) will, jointly and severally, be obligated to pay liquidated damages to each Holder of
Transfer Restricted Securities, during the period of one or more such Registration Defaults, in an
amount equal to $ 0.10 per week per $1,000 principal amount of Transfer Restricted Securities held
by such Holder until (a) the applicable Registration Statement is filed, (b) the Exchange Offer
Registration Statement is declared effective, (c) the Registered Exchange Offer is consummated, (d)
the Shelf Registration Statement is declared effective, (e) the Shelf Registration Statement again
becomes effective, or (f) the Shelf Registration Period shall have ended, as the case may be.
Following the cure of all Registration Defaults, the accrual of liquidated damages will cease. As
used herein, the term “Transfer Restricted Securities” means (i) each Security until the
date on which such Security has been exchanged for a freely transferable Exchange Security in the
Registered Exchange Offer, (ii) each Security or Private Exchange Security until the date on which
it has been effectively registered under the Securities Act and disposed of in accordance with the
Shelf Registration Statement or (iii) each Security or Private Exchange Security until the date on
which it is distributed to the public pursuant to Rule 144 under the Securities Act or is saleable
pursuant to Rule 144(k) under the Securities Act. Notwithstanding anything to the contrary in this
Section 3(a), the Company and the Guarantors (other than LIN TV Corp.) shall not be required to pay
liquidated damages to a Holder of Transfer Restricted Securities if such Holder failed to comply
with its obligations to make the representations set forth in the second to last paragraph of
Section 1 or failed to provide the information required to be provided by it, if any, pursuant to
Section 4(n).

          (b) The Issuers shall notify the Trustee and the Paying Agent under the Indenture immediately
upon the happening of each and every Registration Default. The Company and the Guarantors (other
than LIN TV Corp.) shall, jointly and severally, pay the liquidated damages due on the Transfer
Restricted Securities by depositing with the Paying Agent (which may not be any of the Issuers for
these purposes), in trust, for the benefit of the Holders thereof, prior to 10:00 a.m., New York
City time, on the next interest payment date specified by the Indenture and the Securities, sums
sufficient to pay the liquidated damages then due. The liquidated damages due shall be payable on
each interest payment date specified by the Indenture and the Securities to the Holder of record
entitled to receive the interest payment to be made on such date. Each obligation to pay
liquidated damages shall be deemed to accrue from and including the date of the applicable
Registration Default.

          (c) The parties hereto agree that the liquidated damages provided for in this Section 3
constitute a reasonable estimate of and are intended to constitute the sole damages that will be
suffered by Holders of Transfer Restricted Securities by reason of the failure of (i) the Shelf
Registration Statement or the Exchange Offer Registration Statement to be filed, (ii) the Shelf
Registration Statement to remain effective or (iii) the Exchange Offer Registration Statement to be
declared effective and the Registered Exchange Offer to be consummated, in each case to the extent
required by this Agreement.

 

 

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          4. Registration Procedures. In connection with any Registration Statement, the
following provisions shall apply:

     (a) The Issuers shall (i) furnish to each Initial Purchaser, prior to the filing
thereof with the Commission, a copy of the Registration Statement and each amendment thereof
and each supplement, if any, to the prospectus included therein and shall use its reasonable
best efforts to reflect in each such document, when so filed with the Commission, such
comments as any Initial Purchaser may reasonably propose; (ii) if applicable, include the
information set forth in Annex A hereto on the cover, in Annex B hereto in
the “Exchange Offer Procedures” and “Purpose of the Exchange Offer” sections and in
Annex C hereto in the “Plan of Distribution” section of the prospectus forming a
part of the Exchange Offer Registration Statement, and include the information set forth in
Annex D hereto in the Letter of Transmittal delivered pursuant to the Registered
Exchange Offer; and (iii) if requested by any Initial Purchaser, include the information
required by Items 507 or 508 of Regulation S-K, as applicable, in the prospectus forming a
part of the Exchange Offer Registration Statement.

     (b) The Issuers shall advise each Initial Purchaser, each Exchanging Dealer and the
Holders (if applicable) and, if requested by any such person, confirm such advice in writing
(which advice pursuant to clauses (ii)-(v) hereof shall be accompanied by an instruction to
suspend the use of the prospectus until the requisite changes have been made):

     (i) when any Registration Statement and any amendment thereto has been filed
with the Commission and when such Registration Statement or any post-effective
amendment thereto has become effective;

     (ii) of any request by the Commission for amendments or supplements to any
Registration Statement or the prospectus included therein or for additional
information;

     (iii) of the issuance by the Commission of any stop order suspending the
effectiveness of any Registration Statement or the initiation of any proceedings for
that purpose;

     (iv) of the receipt by the Issuers of any notification with respect to the
suspension of the qualification of the Securities, the Exchange Securities or the
Private Exchange Securities for sale in any jurisdiction or the initiation or
threatening of any proceeding for such purpose; and

     (v) of the happening of any event that requires the making of any changes in
any Registration Statement or the prospectus included therein in order that the
statements therein are not misleading and do not omit to state a material fact
required to be stated therein or necessary to make the statements therein not
misleading.

 

 

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     (c) The Issuers will make every reasonable effort to obtain the withdrawal at the
earliest possible time of any order suspending the effectiveness of any Registration
Statement.

     (d) The Issuers will furnish to each Holder of Transfer Restricted Securities included
within the coverage of any Shelf Registration Statement, without charge, at least one
conformed copy of such Shelf Registration Statement and any post-effective amendment
thereto, including financial statements and schedules and, if any such Holder so requests in
writing, all exhibits thereto (including those, if any, incorporated by reference).

     (e) The Issuers will, during the Shelf Registration Period, promptly deliver to each
Holder of Transfer Restricted Securities included within the coverage of any Shelf
Registration Statement, without charge, as many copies of the prospectus (including each
preliminary prospectus) included in such Shelf Registration Statement and any amendment or
supplement thereto as such Holder may reasonably request; and the Issuers consent to the use
of such prospectus or any amendment or supplement thereto by each of the selling Holders of
Transfer Restricted Securities in connection with the offer and sale of the Transfer
Restricted Securities covered by such prospectus or any amendment or supplement thereto.

     (f) The Issuers will furnish to each Initial Purchaser and each Exchanging Dealer, and
to any other Holder who so requests, without charge, at least one conformed copy of the
Exchange Offer Registration Statement and any post-effective amendment thereto, including
financial statements and schedules and, if any Initial Purchaser or Exchanging Dealer or any
such Holder so requests in writing, all exhibits thereto (including those, if any,
incorporated by reference).

     (g) The Issuers will, during the Exchange Offer Registration Period or the Shelf
Registration Period, as applicable, promptly deliver to each Initial Purchaser, each
Exchanging Dealer and such other persons that are required to deliver a prospectus following
the Registered Exchange Offer, without charge, as many copies of the final prospectus
included in the Exchange Offer Registration Statement or the Shelf Registration Statement
and any amendment or supplement thereto as such Initial Purchaser, Exchanging Dealer or
other persons may reasonably request; and the Issuers consent to the use of such prospectus
or any amendment or supplement thereto by any such Initial Purchaser, Exchanging Dealer or
other persons, as applicable, as aforesaid.

     (h) Prior to the effective date of any Registration Statement, the Issuers will use
their reasonable best efforts to register or qualify, or cooperate with the Holders of
Securities, Exchange Securities or Private Exchange Securities included therein and their
respective counsel in connection with the registration or qualification of, such Securities,
Exchange Securities or Private Exchange Securities for offer and sale under the securities
or blue sky laws of such jurisdictions as any such Holder reasonably requests in writing and
do any and all other acts or things necessary or

 

 

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advisable to enable the offer and sale in such jurisdictions of the Securities,
Exchange Securities or Private Exchange Securities covered by such Registration Statement;
provided that the Issuers will not be required to qualify generally to do business
in any jurisdiction where they are not then so qualified or to take any action which would
subject them to general service of process or to taxation in any such jurisdiction where
they are not then so subject.

     (i) The Issuers will cooperate with the Holders of Securities, Exchange Securities or
Private Exchange Securities to facilitate the timely preparation and delivery of
certificates representing Securities, Exchange Securities or Private Exchange Securities to
be sold pursuant to any Registration Statement free of any restrictive legends and in such
denominations and registered in such names as the Holders thereof may request in writing
prior to sales of Securities, Exchange Securities or Private Exchange Securities pursuant to
such Registration Statement.

     (j) If (i) any event contemplated by Section 4(b)(ii) through (v) occurs during the
period for which the Issuers are required to maintain an effective Registration Statement,
or (ii) any Suspension Period remains in effect more than 120 days after the occurrence
thereof, the Issuers will promptly prepare and file with the Commission a post-effective
amendment to the Registration Statement or a supplement to the related prospectus or file
any other required document so that, as thereafter delivered to purchasers of the
Securities, Exchange Securities or Private Exchange Securities from a Holder, the prospectus
will not include an untrue statement of a material fact or omit to state a material fact
necessary in order to make the statements therein, in the light of the circumstances under
which they were made, not misleading.

     (k) Not later than the effective date of the applicable Registration Statement, the
Issuers will provide a CUSIP number for the Securities, the Exchange Securities and the
Private Exchange Securities, as the case may be, and provide the applicable trustee with
printed certificates for the Securities, the Exchange Securities or the Private Exchange
Securities, as the case may be, in a form eligible for deposit with The Depository Trust
Company.

     (l) Each of the Issuers will comply with all applicable rules and regulations of the
Commission and will make generally available to its security holders as soon as practicable
after the effective date of the applicable Registration Statement an earnings statement
satisfying the provisions of Section 11(a) of the Securities Act; provided that in
no event shall such earnings statement be delivered later than 45 days after the end of a
12-month period (or 90 days, if such period is a fiscal year) beginning with the first month
of such Issuer’s first fiscal quarter commencing after the effective date of the applicable
Registration Statement, which statement shall cover such 12-month period.

     (m) The Issuers will cause the Indenture or the Exchange Securities Indenture, as the
case may be, to be qualified under the Trust Indenture Act as required by applicable law in
a timely manner.

 

 

-11-

     (n) The Issuers may require each Holder of Transfer Restricted Securities to be
registered pursuant to any Shelf Registration Statement to furnish to the Issuers such
information concerning the Holder and the distribution of such Transfer Restricted
Securities as the Issuers may from time to time reasonably require for inclusion in such
Shelf Registration Statement, and the Issuers may exclude from such registration the
Transfer Restricted Securities of any Holder that fails to furnish such information within a
reasonable time after receiving such request.

     (o) In the case of a Shelf Registration Statement, each Holder of Transfer Restricted
Securities to be registered pursuant thereto agrees by acquisition of such Transfer
Restricted Securities that, upon receipt of any notice from the Issuers (i) of a Suspension
Period under Section 2(b) hereof or (ii) pursuant to Section 4(b)(ii) through (v) hereof,
such Holder will discontinue disposition of such Transfer Restricted Securities until such
Holder’s receipt of (x) notice that the Suspension Period has ended or (y) copies of the
supplemental or amended prospectus contemplated by Section 4(j) hereof, as the case may be,
or until advised in writing (the “Advice”) by the Issuers that the use of the
applicable prospectus may be resumed. If the Issuers shall give any notice under Section
4(b)(ii) through (v) during the period that the Issuers are required to maintain an
effective Registration Statement (the “Effectiveness Period”), such Effectiveness
Period shall be extended by the number of days during such period from and including the
date of the giving of such notice to and including the date when each seller of Transfer
Restricted Securities covered by such Registration Statement shall have received (x) the
copies of the supplemental or amended prospectus contemplated by Section 4(j) (if an amended
or supplemental prospectus is required) or (y) the Advice (if no amended or supplemental
prospectus is required).

     (p) In the case of a Shelf Registration Statement, the Issuers shall enter into such
customary agreements (including, if requested, an underwriting agreement in customary form)
and take all such other action, if any, as Holders of a majority in aggregate principal
amount of the Securities, Exchange Securities and Private Exchange Securities being sold or
the managing underwriters (if any) shall reasonably request in order to facilitate any
disposition of Securities, Exchange Securities or Private Exchange Securities pursuant to
such Shelf Registration Statement.

     (q) In the case of a Shelf Registration Statement, the Issuers shall (i) make
reasonably available for inspection by a representative of, and Special Counsel (as defined
below) acting for, Holders of a majority in aggregate principal amount of the Securities,
Exchange Securities and Private Exchange Securities being sold and any underwriter
participating in any disposition of Securities, Exchange Securities or Private Exchange
Securities pursuant to such Shelf Registration Statement, all relevant financial and other
records, pertinent corporate documents and properties of the Issuers and their respective
subsidiaries and (ii) use their reasonable best efforts to have their officers, directors,
employees, accountants and counsel supply all relevant information reasonably requested by
such representative, Special Counsel or any such underwriter (an “Inspector”) in
connection with such Shelf Registration Statement; provided that the Inspectors
shall first agree in writing with the Company that

 

 

-12-

any information that is reasonably designated by the Company as confidential at the
time of delivery of such information shall be kept confidential by such persons and shall be
used solely for the purposes of exercising rights under this Agreement, unless (i)
disclosure of such information is required by court or administrative order or is necessary
to respond to inquiries of regulatory authorities, (ii) disclosure of such information is
required by law (including any disclosure requirements pursuant to federal securities laws
in connection with the filing of any Registration Statement or the use of any prospectus
referred to in this Agreement), (iii) such information becomes generally available to the
public other than as a result of a disclosure or failure to safeguard by any such person,
(iv) such information becomes available to any such person from a source other than the
Issuers and such source is not bound by a confidentiality agreement, or (v) such information
relates to the U.S. federal income tax treatment or U.S. federal income tax structure of the
Transactions or materials of any kind relating to such tax treatment or tax structure,
including opinions or other tax analyses. Any person legally compelled to disclose any such
confidential information made available for inspection shall provide the Company with prompt
prior written notice of such requirement so that the Company may seek a protective order or
other appropriate remedy.

     (r) In the case of a Shelf Registration Statement, the Issuers shall, if requested by
Holders of a majority in aggregate principal amount of the Securities, Exchange Securities
and Private Exchange Securities being sold, their Special Counsel or the managing
underwriters (if any) in connection with such Shelf Registration Statement, use their
reasonable best efforts to cause (i) their counsel to deliver an opinion relating to the
Shelf Registration Statement and the Securities, Exchange Securities or Private Exchange
Securities, as applicable, in customary form and (ii) their officers to execute and deliver
all customary documents and certificates requested by Holders of a majority in aggregate
principal amount of the Securities, Exchange Securities and Private Exchange Securities
being sold, their Special Counsel or the managing underwriters (if any). In addition, in
the case of a Shelf Registration Statement, the Issuers shall, if requested by Holders of a
majority in aggregate principal amount of the Securities, Exchange Securities and Private
Exchange Securities being sold, their Special Counsel, or the managing underwriters (if any)
in connection with such Shelf Registration Statement, but only if the registration is an
underwritten registration, use their reasonable best efforts to cause their independent
public accountants to provide a comfort letter or letters in customary form, subject to
receipt of appropriate documentation as contemplated, and only if permitted, by Statement of
Auditing Standards No. 72.

          5. Registration Expenses. The Issuers will, jointly and severally, bear all expenses
incurred in connection with the performance of their obligations under Sections 1, 2, 3 and 4 and
the Issuers will, jointly and severally, reimburse the Initial Purchasers and the Holders for the
reasonable fees and disbursements of one firm of attorneys (in addition to any local counsel)
chosen by the Holders of a majority in aggregate principal amount of the Securities, the Exchange
Securities and the Private Exchange Securities to be sold pursuant

 

 

-13-

to each Registration Statement (the “Special Counsel”) acting for the Initial
Purchasers or Holders in connection therewith.

          6. Indemnification. (a) In the event of a Shelf Registration Statement or in
connection with any prospectus delivery pursuant to an Exchange Offer Registration Statement by an
Initial Purchaser or Exchanging Dealer, as applicable, the Issuers shall, jointly and severally,
indemnify and hold harmless each Holder (including, without limitation, any such Initial Purchaser
or Exchanging Dealer), its affiliates, each person who controls such Holder or such affiliates
within the meaning of the Securities Act or Exchange Act and their respective officers, directors,
employees, representatives and agents (collectively referred to for purposes of this Section 6 and
Section 7 as a “Holder”) from and against any loss, claim, damage or liability, joint or
several, or any action in respect thereof (including, without limitation, any loss, claim, damage,
liability or action relating to purchases and sales of Securities, Exchange Securities or Private
Exchange Securities), to which that Holder may become subject, whether commenced or threatened,
under the Securities Act, the Exchange Act, any other federal or state statutory law or regulation,
at common law or otherwise, insofar as such loss, claim, damage, liability or action arises out of,
or is based upon, (i) any untrue statement or alleged untrue statement of a material fact contained
in any such Registration Statement or any prospectus forming part thereof or in any amendment or
supplement thereto or (ii) the omission or alleged omission to state therein a material fact
required to be stated therein or necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading, and shall, jointly and severally,
reimburse each Holder promptly upon demand for any legal or other expenses reasonably incurred by
that Holder in connection with investigating or defending or preparing to defend against or
appearing as a third party witness in connection with any such loss, claim, damage, liability or
action as such expenses are incurred; provided, however, that the Issuers shall not
be liable in any such case to the extent that any such loss, claim, damage, liability or action
arises out of, or is based upon, an untrue statement or alleged untrue statement in or omission or
alleged omission from any of such documents in reliance upon and in conformity with any Holders’
Information; and provided further, however, that with respect to any such
untrue statement in or omission from any related preliminary prospectus (as amended or
supplemented) or, if amended or supplemented, any related final prospectus (excluding the
correcting amendment or supplement), the indemnity agreement contained in this Section 6(a) shall
not inure to the benefit of any such Holder from whom the person asserting any such loss, claim,
damage, liability or action received Securities, Exchange Securities or Private Exchange Securities
to the extent that such loss, claim, damage, liability or action of or with respect to such Holder
results from the fact that both (A) a copy of the final prospectus (together with any correcting
amendments or supplements) was not sent or given to such person at or prior to the written
confirmation of the sale of such Securities, Exchange Securities or Private Exchange Securities to
such person and (B) the untrue statement in or omission from any related preliminary prospectus (as
amended or supplemented) or, if amended or supplemented, any related final prospectus (excluding
the correcting amendment or supplement) was corrected in the final prospectus or, if applicable, an
amendment or supplement thereto and the final prospectus (as amended or supplemented) does not
contain any other untrue statement or omission or alleged untrue statement or omission of a
material fact

 

 

-14-

unless, in either case, such failure to deliver the final prospectus was a result of
non-compliance by the Issuers with Sections 4(d), 4(f) or 4(g).

          (b) In the event of a Shelf Registration Statement, each Holder, severally and not jointly,
shall indemnify and hold harmless the Issuers, their respective affiliates, each person who
controls any such Issuer or any such affiliates within the meaning of the Securities Act or
Exchange Act and their respective officers, directors, employees, representatives and agents
(collectively referred to for purposes of this Section 6(b) and Section 7 as the “Issuers”), from
and against any loss, claim, damage or liability, joint or several, or any action in respect
thereof, to which the Issuers may become subject, whether commenced or threatened, under the
Securities Act, the Exchange Act, any other federal or state statutory law or regulation, at common
law or otherwise, insofar as such loss, claim, damage, liability or action arises out of, or is
based upon, (i) any untrue statement or alleged untrue statement of a material fact contained in
any such Registration Statement or any prospectus forming part thereof or in any amendment or
supplement thereto or (ii) the omission or alleged omission to state therein a material fact
required to be stated therein or necessary in order to make the statements therein, in the light of
the circumstances under which they were made, not misleading, but in each case only to the extent
that the untrue statement or alleged untrue statement or omission or alleged omission was made in
reliance upon and in conformity with any Holders’ Information furnished to the Issuers by such
Holder, and shall reimburse the Issuers for any legal or other expenses reasonably incurred by the
Issuers in connection with investigating or defending or preparing to defend against or appearing
as a third party witness in connection with any such loss, claim, damage, liability or action as
such expenses are incurred; provided, however, that no such Holder shall be liable
for any indemnity claims hereunder in excess of the amount of net proceeds received by such Holder
from the sale of Securities, Exchange Securities or Private Exchange Securities pursuant to such
Shelf Registration Statement.

          (c) Promptly after receipt by an indemnified party under this Section 6 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 indemnifying party pursuant to Section 6(a) or 6(b), notify the indemnifying
party in writing of the claim or the commencement of that action; provided,
however, that the failure to notify the indemnifying party shall not relieve it from any
liability which it may have under this Section 6 except to the extent that it has been materially
prejudiced by such failure; and provided further, however, 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 this Section 6. 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 under this Section 6 for any legal
or other expenses subsequently incurred by the indemnified party in connection with the defense
thereof other than the reasonable costs of investigation; provided, however, that
an indemnified party shall have the right to employ its own counsel in any such action, but the
fees, ex-

 

 

-15-

penses and other charges of such counsel for the indemnified party will be at the expense of
such indemnified party unless (1) the employment of counsel by the indemnified party has been
authorized in writing by the indemnifying party, (2) the indemnified party has reasonably concluded
(based upon advice of counsel to the indemnified party) that there may be legal defenses available
to it or other indemnified parties that are different from or in addition to those available to the
indemnifying party, (3) a conflict or potential conflict exists (based upon advice of counsel to
the indemnified party) between the indemnified party and the indemnifying party (in which case the
indemnifying party will not have the right to direct the defense of such action on behalf of the
indemnified party) or (4) the indemnifying party has not in fact employed counsel reasonably
satisfactory to the indemnified party to assume the defense of such action within a reasonable time
after receiving notice of the commencement of the action, in each of which cases the reasonable
fees, disbursements and other charges of counsel will be at the expense of the indemnifying party
or parties. It is understood that the indemnifying party or parties shall not, in connection with
any proceeding or related proceedings in the same jurisdiction, be liable for the reasonable fees,
disbursements and other charges of more than one separate firm of attorneys (in addition to any
local counsel) at any one time for all such indemnified party or parties. Each indemnified party,
as a condition of the indemnity agreements contained in Sections 6(a) and 6(b), shall use all
reasonable efforts to cooperate with the indemnifying party in the defense of any such action or
claim. No indemnifying party shall be liable for any settlement of any such action effected
without its written consent (which consent shall not be unreasonably withheld), but if settled with
its written consent or if there be a final judgment for the plaintiff in any such action, the
indemnifying party agrees to indemnify and hold harmless any indemnified party from and against any
loss or liability by reason of such settlement or judgment. No indemnifying party shall, without
the prior written consent of the indemnified party (which consent shall not be unreasonably
withheld), effect any settlement of any pending or threatened proceeding in respect of which any
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 on claims that are the subject matter of such proceeding.

          7. Contribution. If the indemnification provided for in Section 6 is unavailable or
insufficient to hold harmless an indemnified party under Section 6(a) or 6(b), then each
indemnifying party shall, in lieu of indemnifying such indemnified party, contribute to the amount
paid or payable by such indemnified party as a result of such loss, claim, damage or liability, or
action in respect thereof, (i) in such proportion as shall be appropriate to reflect the relative
benefits received by the Issuers from the offering and sale of the Securities, on the one hand, and
a Holder with respect to the sale by such Holder of Securities, Exchange Securities or Private
Exchange Securities, on the other, or (ii) if the allocation provided by clause (i) above is not
permitted by applicable law, in such proportion as is appropriate to reflect not only the relative
benefits referred to in clause (i) above but also the relative fault of the Issuers on the one hand
and such Holder on the other with respect to the statements or omissions that resulted in such
loss, claim, damage or liability, or action in respect thereof, as well as any other relevant
equitable considerations. The relative benefits received by the Issuers, on the one hand, and a
Holder, on the other, with respect to such offering and such sale shall be deemed to be in the same
proportion as the total net pro-

 

 

-16-

ceeds from the offering of the Securities (before deducting expenses) received by or on behalf
of the Issuers, on the one hand, bear to the total proceeds received by such Holder with respect to
its sale of Securities, Exchange Securities or Private Exchange Securities, on the other. The
relative fault shall be determined by reference to, among other things, whether the untrue or
alleged untrue statement of a material fact or the omission or alleged omission to state a material
fact relates to the Issuers or information supplied by the Issuers, on the one hand, or to any
Holders’ Information supplied by such Holder, on the other, the intent of the parties and their
relative knowledge, access to information and opportunity to correct or prevent such untrue
statement or omission. The parties hereto agree that it would not be just and equitable if
contributions pursuant to this Section 7 were to be determined by pro rata allocation or by any
other method of allocation that does not take into account the equitable considerations referred to
herein. The amount paid or payable by an indemnified party as a result of the loss, claim, damage
or liability, or action in respect thereof, referred to above in this Section 7 shall be deemed to
include, for purposes of this Section 7, any legal or other expenses reasonably incurred by such
indemnified party in connection with investigating or defending or preparing to defend any such
action or claim. Notwithstanding the provisions of this Section 7, an indemnifying party that is a
Holder of Securities, Exchange Securities or Private Exchange Securities shall not be required to
contribute any amount in excess of the amount by which the total price at which the Securities,
Exchange Securities or Private Exchange Securities sold by such indemnifying party to any purchaser
exceeds the amount of any damages which such indemnifying party has otherwise paid or become liable
to pay by reason of any untrue or alleged untrue statement or omission or alleged omission. No
person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any person who was not guilty of such
fraudulent misrepresentation.

          8. Rules 144 and 144A. Each of the Issuers shall use its commercially reasonable best
efforts to file the reports required to be filed by it under the Securities Act and the Exchange
Act in a timely manner and, if at any time such Issuer is not required to file such reports, it
will, upon the written request of any Holder of Transfer Restricted Securities, make publicly
available other information for so long as necessary to permit sales of such Holder’s securities
pursuant to Rules 144 and 144A. Each of the Issuers covenants that it will take such further
action as any Holder of Transfer Restricted Securities may reasonably request, all to the extent
required from time to time to enable such Holder to sell Transfer Restricted Securities without
registration under the Securities Act within the limitation of the exemptions provided by Rules 144
and 144A (including, without limitation, the requirements of Rule 144A(d)(4)). Upon the written
request of any Holder of Transfer Restricted Securities, each of the Issuers shall deliver to such
Holder a written statement as to whether it has complied with such requirements. Notwithstanding
the foregoing, nothing in this Section 8 shall be deemed to require any of the Issuers to register
any of its securities pursuant to the Exchange Act.

          9. Underwritten Registrations. If any of the Transfer Restricted Securities covered
by any Shelf Registration Statement are to be sold in an underwritten offering, the investment
banker or investment bankers and manager or managers that will administer the offering will be
selected by the Holders of a majority in aggregate principal amount of such

 

 

-17-

Transfer Restricted Securities included in such offering, subject to the consent of the
Issuers (which shall not be unreasonably withheld or delayed), and such Holders shall be
responsible for all underwriting commissions and discounts in connection therewith.

          No person may participate in any underwritten registration hereunder unless such person (i)
agrees to sell such person’s Transfer Restricted Securities on the basis reasonably provided in any
underwriting arrangements approved by the persons entitled hereunder to approve such arrangements
and (ii) completes and executes all questionnaires, powers of attorney, indemnities, underwriting
agreements and other documents reasonably required under the terms of such underwriting
arrangements.

          10. Miscellaneous. (a) Amendments and Waivers. The provisions of this
Agreement may not be amended, modified or supplemented, and waivers or consents to departures from
the provisions hereof may not be given, unless the Issuers have obtained the written consent of
Holders of a majority in aggregate principal amount of the Securities, the Exchange Securities and
the Private Exchange Securities, taken as a single class. Notwithstanding the foregoing, a waiver
or consent to depart from the provisions hereof with respect to a matter that relates exclusively
to the rights of Holders whose Securities, Exchange Securities or Private Exchange Securities are
being sold pursuant to a Registration Statement and that does not directly or indirectly affect the
rights of other Holders may be given by Holders of a majority in aggregate principal amount of the
Securities, the Exchange Securities and the Private Exchange Securities being sold by such Holders
pursuant to such Registration Statement.

          (b) Notices. All notices and other communications provided for or permitted hereunder
shall be made in writing by hand-delivery, first-class mail, telecopier or air courier guaranteeing
next-day delivery:

     (i) if to a Holder, at the most current address given by such Holder to the Issuers in
accordance with the provisions of this Section 10(b), which address initially is, with
respect to each Holder, the address of such Holder maintained by the Registrar under the
Indenture, with a copy in like manner to J.P. Morgan Securities Inc., Deutsche Bank
Securities Inc., Banc of America Securities LLC, Bear, Stearns & Co. Inc., Morgan Stanley &
Co. Incorporated and Scotia Capital (USA) Inc.

     (ii) if to an Initial Purchaser, initially to J.P. Morgan Securities Inc. at its
address set forth in the Purchase Agreement; and

     (iii) if to the Issuers, initially at the address of the Company set forth in the
Purchase Agreement.

          All such notices and communications shall be deemed to have been duly given: when delivered
by hand, if personally delivered; one business day after being delivered to a next-day air courier;
five business days after being deposited in the mail; and when receipt is acknowledged by the
recipient’s telecopier machine, if sent by telecopier.

 

 

-18-

          (c) Successors and Assigns. This Agreement shall be binding upon the Issuers and
their successors and assigns.

          (d) Counterparts. This Agreement may be executed in any number of counterparts (which
may be delivered in original form or by telecopier) and by the parties hereto in separate
counterparts, each of which when so executed shall be deemed to be an original and all of which
taken together shall constitute one and the same agreement.

          (e) Definition of Terms. For purposes of this Agreement, (a) the term “business
day” means any day on which the New York Stock Exchange, Inc. is open for trading, (b) the term
“subsidiary” has the meaning set forth in Rule 405 under the Securities Act and (c) except
where otherwise expressly provided, the term “affiliate” has the meaning set forth in Rule
405 under the Securities Act.

          (f) Headings. The headings in this Agreement are for convenience of reference only
and shall not limit or otherwise affect the meaning hereof.

          (g) Governing Law. This Agreement shall be governed by and construed in accordance
with the laws of the State of New York without regard to conflicts of law provisions thereof to the
extent the application of the laws of another jurisdiction would be required thereby.

          (h) Remedies. In the event of a breach by the Issuers or by any Holder of any of
their obligations under this Agreement, each Holder or the Issuers, as the case may be, in addition
to being entitled to exercise all rights granted by law, including recovery of damages (other than
the recovery of damages for a breach by the Issuers of their obligations under Sections 1 or 2
hereof for which liquidated damages have been paid pursuant to Section 3 hereof), will be entitled
to specific performance of its rights under this Agreement. The Issuers and each Holder agree that
monetary damages would not be adequate compensation for any loss incurred by reason of a breach by
it of any of the provisions of this Agreement and hereby further agree that, in the event of any
action for specific performance in respect of such breach, it shall waive the defense that a remedy
at law would be adequate.

          (i) No Inconsistent Agreements. The Issuers represent, warrant and agree that (i)
they have not entered into, and shall not, on or after the date of this Agreement, enter into, any
agreement that is inconsistent with the rights granted to the Holders in this Agreement or
otherwise conflicts with the provisions hereof, (ii) they have not previously entered into any
agreement which remains in effect granting any registration rights with respect to any of their
debt securities to any person except for the obligation to maintain the effectiveness of the
Registration Statement on Form S-3 relating to the Company’s 2.50% Exchangeable Senior Subordinated
Debentures due 2033 and (iii) without limiting the generality of the foregoing, without the written
consent of the Holders of a majority in aggregate principal amount of the then outstanding Transfer
Restricted Securities, they shall not grant to any person the right to request any of the Issuers
to register any debt securities of such Issuer under the Securities Act unless the rights so
granted are not in conflict or inconsistent with the provisions of this Agreement.

 

 

-19-

          (j) No Piggyback on Registrations. Neither the Issuers nor any of their respective
security holders (other than the Holders of Transfer Restricted Securities in such capacity) shall
have the right to include any securities of the Issuers in any Shelf Registration or Registered
Exchange Offer other than Transfer Restricted Securities.

          (k) Severability. The remedies provided herein are cumulative and not exclusive of any
remedies provided by law. If any term, provision, covenant or restriction of this Agreement is
held by a court of competent jurisdiction to be invalid, illegal, void or unenforceable, the
remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in
full force and effect and shall in no way be affected, impaired or invalidated, and the parties
hereto shall use their reasonable best efforts to find and employ an alternative means to achieve
the same or substantially the same result as that contemplated by such term, provision, covenant or
restriction. It is hereby stipulated and declared to be the intention of the parties that they
would have executed the remaining terms, provisions, covenants and restrictions without including
any of such that may be hereafter declared invalid, illegal, void or unenforceable.

[Remainder of page intentionally left blank]

 

 

-20-

          Please confirm that the foregoing correctly sets forth the agreement between the Issuers and
the Initial Purchasers.

	 	 	 	 	 
	 	Very truly yours,

LIN TELEVISION CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 	 	 
	 	LIN TV CORP.,

as Guarantor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

-21-

	 	 	 	 	 
	 	 	AIRWAVES, INC.
	 	 	KXAN, INC.
	 	 	KXTX HOLDINGS, INC.
	 	 	LINBENCO, INC.
	 	 	LIN SPORTS, INC.
	 	 	LIN TELEVISION OF SAN JUAN, INC.
	 	 	LIN TELEVISION OF TEXAS, INC.
	 	 	NORTH TEXAS BROADCASTING
	 	 	   CORPORATION
	 	 	PRIMELAND TELEVISION, INC.
	 	 	WAPA AMERICA, INC.
	 	 	WNJX-TV, INC.
	 	 	WOOD TELEVISION, INC.
	 	 	WTNH BROADCASTING, INC.
	 	 	TVL BROADCASTING, INC.
	 	 	  as Guarantors
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	

	 	 	 	Name:
	

	 	 	 	Title:
	 
	 	 	 	 
	 	 	TELEVICENTRO OF PUERTO RICO, LLC,
	 	 	as a Guarantor
	 
	 	 	 	 
	

	 	By:
	 	LIN Television of San Juan, Inc.,
	

	 	 	 	its Managing Member
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	

	 	 	 	Name:
	

	 	 	 	Title:

 

 

-22-

	 	 	 	 	 
	 	 	INDIANA BROADCASTING, LLC
	 	 	LIN AIRTIME, LLC
	 	 	PROVIDENCE BROADCASTING, LLC
	 	 	WAVY BROADCASTING, LLC
	 	 	WIVB BROADCASTING, LLC
	 	 	WOOD LICENSE CO., LLC
	 	 	WWLP BROADCASTING, LLC,
	 	 	  as Guarantors
	 
	 	 	 	 
	

	 	By:
	 	LIN Television Corporation,
	

	 	 	 	its Managing Member
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	

	 	 	 	Name:
	

	 	 	 	Title:

 

 

-23-

	 	 	 	 	 
	 	 	LIN TELEVISION OF TEXAS, L.P.,
	 	 	as a Guarantor
	 
	 	 	 	 
	

	 	By:
	 	LIN Television of Texas, Inc.,
	

	 	 	 	its General Partner
	

	 	By:	 	 
	

	 	 	 	 
	

	 	 	 	Name:
	

	 	 	 	Title:
	 
	 	 	 	 
	 	 	TVL BROADCASTING OF RHODE ISLAND, LLC
	 	 	WDTN BROADCASTING, LLC
	 	 	WUPW BROADCASTING, LLC,
	 	 	   as Guarantors
	 
	 	 	 	 
	

	 	By:
	 	TVL Broadcasting, Inc.,
	

	 	 	 	its Managing Member
	 
	 	 	 	 
	

	 	By:	 	 
	

	 	 	 	 
	

	 	 	 	Name:
	

	 	 	 	Title:

 

 

-24-

	 	 	 	 	 
	Accepted by:	 	 
	 
	 	 	 	 
	J.P. MORGAN SECURITIES INC.	 	 
	 
	 	 	 	 
	For itself and on behalf of the several	 	 
	Initial Purchasers named in Schedule I hereto.	 	 
	 
	 	 	 	 
	By:
	 	 	 	 
	

	 	 	 	 
	

	 	Authorized Signatory	 	 

 

 

SCHEDULE I

Initial Purchasers

J.P. Morgan Securities Inc.

Deutsche Bank Securities Inc.

Banc of America Securities LLC

Bear, Stearns & Co. Inc.

Morgan Stanley & Co. Incorporated

Scotia Capital (USA) Inc.

 

 

ANNEX A

          Each broker-dealer that receives Exchange Securities for its own account pursuant to the
Registered Exchange Offer must acknowledge that it will deliver a prospectus in connection with any
resale of such Exchange Securities. The Letter of Transmittal states that by so acknowledging and
by delivering a prospectus, a broker-dealer will not be deemed to admit that it is an “underwriter”
within the meaning of the Securities Act. This Prospectus, as it may be amended or supplemented
from time to time, may be used by a broker-dealer in connection with resales of Exchange Securities
received in exchange for Securities where such Securities were acquired by such broker-dealer as a
result of market-making activities or other trading activities. The Issuers have agreed that, for
a period of 90 days after the Expiration Date (as defined herein), they will make this Prospectus
available to any broker-dealer for use in connection with any such resale. See “Plan of
Distribution.”

 

 

ANNEX B

          Each broker-dealer that receives Exchange Securities for its own account in exchange for
Securities, where such Securities were acquired by such broker-dealer as a result of market-making
activities or other trading activities, must acknowledge that it will deliver a prospectus in
connection with any resale of such Exchange Securities. See “Plan of Distribution.”

 

 

ANNEX C

PLAN OF DISTRIBUTION

          Each broker-dealer that receives Exchange Securities for its own account pursuant to the
Registered Exchange Offer must acknowledge that it will deliver a prospectus in connection with any
resale of such Exchange Securities. This Prospectus, as it may be amended or supplemented from
time to time, may be used by a broker-dealer in connection with resales of Exchange Securities
received in exchange for Securities where such Securities were acquired as a result of
market-making activities or other trading activities. The Issuers have agreed that, for a period
of 90 days after the Expiration Date, they will make this prospectus, as amended or supplemented,
available to any broker-dealer for use in connection with any such resale. In addition, until
[DATE], all dealers effecting transactions in the Exchange Securities may be required to deliver a
prospectus.

          The Issuers will not receive any proceeds from any sale of Exchange Securities by
broker-dealers. Exchange Securities received by broker-dealers for their own account pursuant to
the Registered Exchange Offer may be sold from time to time in one or more transactions in the
over-the-counter market, in negotiated transactions, through the writing of options on the Exchange
Securities or a combination of such methods of resale, at market prices prevailing at the time of
resale, at prices related to such prevailing market prices or at negotiated prices. Any such
resale may be made directly to purchasers or to or through brokers or dealers who may receive
compensation in the form of commissions or concessions from any such broker-dealer or the
purchasers of any such Exchange Securities. Any broker-dealer that resells Exchange Securities
that were received by it for its own account pursuant to the Registered Exchange Offer and any
broker or dealer that participates in a distribution of such Exchange Securities may be deemed to
be an “underwriter” within the meaning of the Securities Act and any profit on any such resale of
Exchange Securities and any commission or concessions received by any such persons may be deemed to
be underwriting compensation under the Securities Act. The Letter of Transmittal states that, by
acknowledging that it will deliver and by delivering a prospectus, a broker-dealer will not be
deemed to admit that it is an “underwriter” within the meaning of the Securities Act.

          For a period of 90 days after the Expiration Date the Issuers will promptly send additional
copies of this Prospectus and any amendment or supplement to this Prospectus to any broker-dealer
that requests such documents in the Letter of Transmittal. The Issuers have agreed to pay all
expenses incident to the Registered Exchange Offer (including the expenses of one counsel for the
Holders of the Securities) other than commissions or concessions of any broker-dealers and will
indemnify the Holders of the Securities (including any broker-dealers) against certain liabilities,
including liabilities under the Securities Act.

 

 

ANNEX D

	 	 	 	 	 	 	 
	 	 	CHECK HERE IF YOU ARE A BROKER-DEALER AND WISH TO RECEIVE 10
ADDITIONAL COPIES OF THE PROSPECTUS AND 10 COPIES OF ANY AMENDMENTS OR SUPPLEMENTS
THERETO.
	 
	 	 	 	 	 	 
	

	 	Name:	 	 	 	 
	

	 	 	 	 	 	 
	

	 	Address:	 	 	 	 
	

	 	 	 	 	 	 

If the undersigned is not a broker-dealer, the undersigned represents that it is not engaged in,
and does not intend to engage in, a distribution of Exchange Securities. If the undersigned is a
broker-dealer that will receive Exchange Securities for its own account in exchange for Securities
that were acquired as a result of market-making activities or other trading activities, it
acknowledges that it will deliver a prospectus in connection with any resale of such Exchange
Securities; however, by so acknowledging and by delivering a prospectus, the undersigned will not
be deemed to admit that it is an “underwriter” within the meaning of the Securities Act.

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