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ARTICLE I | THE MERGER | |||||
1.1 | The Merger | 1 | ||||
1.2 | Closing | 2 | ||||
1.3 | Effective Time | 2 | ||||
1.4 | Effects | 2 | ||||
1.5 | Certificates of Incorporation and By-Laws | 2 | ||||
1.6 | Alternative Structure | 3 | ||||
ARTICLE II | EFFECT ON CAPITAL STOCK; EXCHANGE OF CERTIFICATES | |||||
2.1 | Effect on Capital Stock | 3 | ||||
2.2 | Exchange of Certificates | 4 | ||||
ARTICLE III | REPRESENTATIONS AND WARRANTIES OF UNITED AND MERGER SUB | |||||
3.1 | Corporate Organization | 7 | ||||
3.2 | Capitalization | 8 | ||||
3.3 | Authority; No Violation | 10 | ||||
3.4 | Consents and Approvals | 12 | ||||
3.5 | Reports | 13 | ||||
3.6 | Financial Statements | 13 | ||||
3.7 | Brokers’ Fees | 14 | ||||
3.8 | Absence of Certain Changes or Events | 15 | ||||
3.9 | Legal Proceedings | 15 | ||||
3.10 | Taxes and Tax Returns | 15 | ||||
3.11 | Employee Benefit Plans | 16 | ||||
3.12 | Labor and Employment Matters | 20 | ||||
3.13 | Internal Control | 20 | ||||
3.14 | Compliance with Laws; Licenses | 20 | ||||
3.15 | Certain Contracts | 21 | ||||
3.16 | Environmental Liability | 22 | ||||
3.17 | State Takeover Laws | 24 | ||||
3.18 | United Information | 24 | ||||
3.19 | Affiliate Transactions | 24 | ||||
3.20 | Aircraft | 24 | ||||
3.21 | United Slots and Operating Rights | 26 | ||||
3.22 | Intellectual Property | 26 | ||||
3.23 | Major United Airports | 27 | ||||
3.24 | Foreign Corrupt Practices Act | 27 |
(continued)
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3.25 | U.S. Citizen; Air Carrier | 28 | ||||
3.26 | Fairness Opinions | 28 | ||||
ARTICLE IV | REPRESENTATIONS AND WARRANTIES OF CONTINENTAL | |||||
4.1 | Corporate Organization | 28 | ||||
4.2 | Capitalization. | 29 | ||||
4.3 | Authority; No Violation | 31 | ||||
4.4 | Consents and Approvals | 32 | ||||
4.5 | Reports | 32 | ||||
4.6 | Financial Statements | 33 | ||||
4.7 | Brokers’ Fees | 34 | ||||
4.8 | Absence of Certain Changes or Events | 34 | ||||
4.9 | Legal Proceedings | 34 | ||||
4.10 | Taxes and Tax Returns | 34 | ||||
4.11 | Employee Benefit Plans | 35 | ||||
4.12 | Labor and Employment Matters | 39 | ||||
4.13 | Internal Control | 39 | ||||
4.14 | Compliance with Laws; Licenses | 39 | ||||
4.15 | Certain Contracts | 40 | ||||
4.16 | Environmental Liability | 41 | ||||
4.17 | State Takeover Laws | 42 | ||||
4.18 | Continental Information | 42 | ||||
4.19 | Affiliate Transactions | 42 | ||||
4.20 | Aircraft | 42 | ||||
4.21 | Continental Slots and Operating Rights | 44 | ||||
4.22 | Intellectual Property | 44 | ||||
4.23 | Major Continental Airports | 45 | ||||
4.24 | Foreign Corrupt Practices Act | 45 | ||||
4.25 | U.S. Citizen; Air Carrier | 46 | ||||
4.26 | Fairness Opinions | 46 | ||||
ARTICLE V | COVENANTS RELATING TO CONDUCT OF BUSINESS | |||||
5.1 | Conduct of Businesses Prior to the Effective Time | 46 | ||||
5.2 | United Forbearances | 47 | ||||
5.3 | Continental Forbearances | 51 | ||||
5.4 | Control of Other Party’s Business | 56 | ||||
5.5 | No Solicitation | 57 |
(continued)
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ARTICLE VI | ADDITIONAL AGREEMENTS | |||||
6.1 | Preparation of the Form S-4 and the Joint Proxy Statement; Stockholders Meetings | 61 | ||||
6.2 | Access to Information; Confidentiality | 63 | ||||
6.3 | Required Actions | 64 | ||||
6.4 | Stock Plans | 67 | ||||
6.5 | Actions with Respect to Certain Continental Debt | 69 | ||||
6.6 | Indemnification and Directors and Officers Insurance | 70 | ||||
6.7 | Fees and Expenses | 70 | ||||
6.8 | Certain Tax Matters | 73 | ||||
6.9 | Transaction Litigation | 73 | ||||
6.10 | Section 16 Matters | 74 | ||||
6.11 | Governance Matters | 74 | ||||
6.12 | Employee Matters | 76 | ||||
6.13 | Collective Bargaining Agreement Commitments. | 78 | ||||
ARTICLE VII | CONDITIONS PRECEDENT | |||||
7.1 | Conditions to Each Party’s Obligation To Effect the Merger | 78 | ||||
7.2 | Conditions to Obligations of United | 79 | ||||
7.3 | Conditions to Obligations of Continental | 80 | ||||
ARTICLE VIII | TERMINATION AND AMENDMENT | |||||
8.1 | Termination | 80 | ||||
8.2 | Effect of Termination | 82 | ||||
8.3 | Amendment | 82 | ||||
8.4 | Extension; Waiver | 82 | ||||
ARTICLE IX | GENERAL PROVISIONS | |||||
9.1 | Nonsurvival of Representations and Warranties | 83 | ||||
9.2 | Notices | 83 | ||||
9.3 | Definitions | 84 | ||||
9.4 | Interpretation | 89 | ||||
9.5 | Severability | 90 | ||||
9.6 | Counterparts | 90 | ||||
9.7 | Entire Agreement; No Third Party Beneficiaries | 90 | ||||
9.8 | GOVERNING LAW | 91 | ||||
9.9 | Assignment | 91 |
(continued)
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9.10 | Specific Enforcement | 91 | ||||
9.11 | Jurisdiction | 92 | ||||
9.12 | Waiver of Jury Trial | 92 | ||||
9.13 | Publicity | 92 | ||||
Annex A | Cross-Reference Table | A-1 | ||||
Annex B | Continental Employee Commitments | B-1 | ||||
Exhibit A | Certificate of Incorporation of the Surviving Corporation | |||||
Exhibit B-1 | Restated Charter of United | |||||
Exhibit B-2 | Restated Bylaws of United | |||||
Exhibit C-1 | Form of Opinion of Cravath, Swaine & Moore LLP | |||||
Exhibit C-2 | Form of United Representation Letter | |||||
Exhibit D-1 | Form of Opinion of Jones Day | |||||
Exhibit D-2 | Form of Continental Representation Letter |
THE MERGER
2
EFFECT ON CAPITAL STOCK;
EXCHANGE OF CERTIFICATES
3
4
5
6
REPRESENTATIONS AND WARRANTIES OF UNITED AND MERGER SUB
7
8
9
10
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12
13
14
15
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27
REPRESENTATIONS AND WARRANTIES OF CONTINENTAL
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29
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35
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38
39
40
41
42
43
44
45
COVENANTS RELATING TO CONDUCT OF BUSINESS
46
47
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50
51
52
53
54
55
56
57
58
59
60
ADDITIONAL AGREEMENTS
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63
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73
74
75
76
77
CONDITIONS PRECEDENT
78
79
TERMINATION AND AMENDMENT
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82
GENERAL PROVISIONS
77 W. Wacker Dr.
Chicago, Illinois 60601
Phone: (312) 997-8000
Facsimile: (312) 997-8180
Worldwide Plaza
825 Eighth Avenue
New York, New York 10019
Phone: (212) 474-1000
Facsimile: (212) 474-3700
George E. Zobitz, Esq.
83
1600 Smith Street, HQSEO
Houston, Texas 77002
Phone: (713) 324-5207
Facsimile: (713) 324-1230
717 Texas Ave., Suite 3300
Houston, Texas 77002
Phone: (832) 239-3939
Facsimile: (832) 239-3600
Robert A. Profusek, Esq.
1001 Fannin, Suite 2500
Houston, Texas 77002
Phone: (713) 758-2222
Facsimile: (713) 615-5967
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UAL CORPORATION | ||||
By: | /s/ Glenn F. Tilton | |||
Name: | Glenn F. Tilton | |||
Title: | Chairman, President and Chief Executive Officer | |||
CONTINENTAL AIRLINES, INC. | ||||
By: | /s/ Jeffery A. Smisek | |||
Name: | Jeffery A. Smisek | |||
Title: | Chairman, President and Chief Executive Officer | |||
JT MERGER SUB INC. | ||||
By: | /s/ Kathryn A. Mikells | |||
Name: | Kathryn A. Mikells | |||
Title: | President | |||
OF UNITED CONTINENTAL HOLDINGS, INC.
Exhibit B-1 - 1
Exhibit B-1 - 2
Exhibit B-1 - 3
Exhibit B-1 - 4
Exhibit B-1 - 5
Exhibit B-1 - 6
Exhibit B-1 - 7
Exhibit B-1 - 8
Exhibit B-1 - 9
Exhibit B-1 - 10
Exhibit B-1 - 11
Exhibit B-1 - 12
Exhibit B-1 - 13
Exhibit B-1 - 14
Exhibit B-1 - 15
Exhibit B-1 - 16
Exhibit B-1 - 17
Exhibit B-1 - 18
Exhibit B-1 - 19
Exhibit B-1 - 20
Exhibit B-1 - 21
Exhibit B-1 - 22
EXHIBIT B-1
Exhibit B-1 - 23
OF UNITED CONTINENTAL HOLDINGS, INC.
Exhibit B-2 - 1
Exhibit B-2 - 2
Exhibit B-2 - 3
Exhibit B-2 - 4
Exhibit B-2 - 5
Exhibit B-2 - 6
Exhibit B-2 - 7
Exhibit B-2 - 8
Exhibit B-2 - 9
Exhibit B-2 - 10
Exhibit B-2 - 11
Exhibit B-2 - 12
Exhibit B-2 - 13
Exhibit B-2 - 14
Exhibit B-2 - 15
Powers And Duties
Exhibit B-2 - 16
Exhibit B-2 - 17
Exhibit B-2 - 18
Exhibit B-2 - 19
Exhibit B-2 - 20
Miscellaneous
Exhibit B-2 - 21
Exhibit B-2 - 22