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EXHIBIT 4.11
ASK JEEVES, INC.
and
AS DEPOSITARY
and
HOLDERS OF DEPOSITARY RECEIPTS
--------------------
DEPOSIT AGREEMENT
-------------------
Dated as of
[----------------]
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TABLE OF CONTENTS
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ARTICLE I
DEFINITIONS...............................................................................
1
ARTICLE II
FORM OF RECEIPTS, DEPOSIT OF STOCK, EXECUTION AND DELIVERY,
TRANSFER, SURRENDER
AND REDEMPTION AND REPURCHASE OF
RECEIPTS.................................................
2
Section 2.1
Form and Transfer of
Receipts....................................................
2
Section 2.2
Deposit of Stock; Execution and Delivery of Receipts in Respect
Thereof.......... 4
Section 2.3
Redemption and Repurchase of
Stock............................................... 4
Section 2.4
Register of Transfer of
Receipts.................................................
6
Section 2.5
Combination and Split-ups of
Receipts............................................ 6
Section 2.6
Surrender of Receipts and Withdrawal of
Stock.................................... 7
Section 2.7
Limitations on Execution and Delivery, Transfer, Split-up,
Combination
and Surrender of Receipts and Withdrawal or Deposit of
Stock..................... 7
Section 2.8
Lost Receipts,
etc...............................................................
8
Section 2.9
Cancellation and Destruction of Surrendered
Receipts............................. 8
Section 2.10
Conversion.......................................................................
8
ARTICLE III
CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE
COMPANY................................ 10
Section 3.1
Filing Proofs, Certificates and Other
Information................................ 10
Section 3.2
Payment of Taxes or Other Governmental
Charges................................... 10
Section 3.3
Withholding......................................................................
10
Section 3.4
Representations and Warranties as to
Stock....................................... 10
ARTICLE IV
THE STOCK,
NOTICES........................................................................
11
Section 4.1
Cash
Distributions...............................................................
11
Section 4.2
Distributions Other Than
Cash....................................................
11
Section 4.3
Subscription Rights, Preferences or
Privileges................................... 11
Section 4.4
Notice of Dividends, Fixing of Record Date for Holders of
Receipts............... 12
Section 4.5
Voting
Rights....................................................................
13
Section 4.6
Changes Affecting Stock and Reclassifications, Recapitalizations,
etc............ 13
Section 4.7
Reports..........................................................................
13
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TABLE OF CONTENTS
(continued)
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Section 4.8
Lists of Receipt
Holders.........................................................
13
ARTICLE V
THE DEPOSITARY, THE DEPOSITARY'S AGENTS, THE REGISTRAR AND THE
COMPANY.................... 14
Section 5.1
Maintenance of Offices, Agencies, Transfer Books by the Depositary;
the
Registrar........................................................................
14
Section 5.2
Prevention or Delay in Performance by the Depositary, the
Depositary's
Agents, the Registrar or the
Company............................................. 14
Section 5.3
Obligations of the Depositary, the Depositary's Agents, the
Registrar and
the
Company......................................................................
15
Section 5.4
Resignation and Removal of the Depositary, Appointment of
Successor
Depositary.......................................................................
16
Section 5.5
Corporate Notices and
Reports....................................................
17
Section 5.6
Deposit of Stock by the
Company..................................................
17
Section 5.7
Indemnification by the
Company...................................................
17
Section 5.8
Fees, Charges and
Expenses.......................................................
17
ARTICLE VI
AMENDMENT AND
TERMINATION.................................................................
17
Section 6.1
Amendment........................................................................
17
Section 6.2
Termination......................................................................
18
ARTICLE VII
MISCELLANEOUS.............................................................................
18
Section 7.1
Counterparts.....................................................................
18
Section 7.2
Exclusive Benefits of
Parties....................................................
19
Section 7.3
Invalidity of
Provisions.........................................................
19
Section 7.4
Notices..........................................................................
19
Section 7.5
Depositary's
Agents..............................................................
19
Section 7.6
Holders of Receipts Are
Parties..................................................
19
Section 7.7
Governing
Law....................................................................
20
Section 7.8
Headings.........................................................................
20
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DEPOSIT AGREEMENT
DEPOSIT
AGREEMENT, dated as of [___________________] among ASK JEEVES,
INC., a Delaware corporation,
[_______________], a under the laws of the State
of [__________________], as Depositary, and
all holders from time to time of
Receipts issued hereunder.
W I T N E S S E T H:
WHEREAS,
the Company desires to provide as hereinafter set forth in this
Deposit Agreement, for the deposit of
shares of the Stock with the Depositary,
as agent for the holders of the Receipts
evidencing Depositary Shares
representing an interest in the Stock so
deposited, for the purposes set forth
in this Deposit Agreement and for the
issuance hereunder of such Receipts; and
WHEREAS,
the Receipts are to be substantially in the form annexed as
Exhibit A to this Deposit Agreement, with
appropriate insertions, modifications
and omissions to reflect the terms of any
Certificate of Designation and
otherwise, as hereinafter provided in this
Deposit Agreement.
NOW,
THEREFORE, in consideration of the premises contained herein, it
is
agreed by and among the parties hereto as
follows:
ARTICLE I
DEFINITIONS
The
following definitions shall apply to the respective terms (in
the
singular and plural forms of such terms)
used in this Deposit Agreement and the
Receipts:
"CERTIFICATE OF DESIGNATION" shall mean the Certificate of
Designation
establishing and setting forth the rights,
preferences, privileges, limitations
and restrictions of the Stock, as filed
with the Secretary of State of the State
of Delaware.
"CERTIFICATE OF INCORPORATION" shall mean the Amended and
Restated
Certificate of Incorporation, as amended or
as amended and restated from time to
time, of the Company.
"COMPANY"
shall mean Ask Jeeves, Inc., a Delaware corporation, and its
successors.
"CORPORATE
OFFICE" shall mean the office of the Depositary in
[_______________], at which at any
particular time its business in respect of
matters governed by this Deposit Agreement
shall be administered, which at the
date of this Deposit Agreement is located
at [_________] .
"DEPOSIT
AGREEMENT" shall mean this agreement, as the same may be
amended,
modified or supplemented from time to time
to reflect the terms of any
Certificate of Designation or otherwise in
accordance with the provisions
hereof.
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"DEPOSITARY" shall mean [______________], as Depositary hereunder,
and any
successor as Depositary hereunder.
"DEPOSITARY SHARE" shall mean the rights evidenced by the
Receipts
executed and delivered hereunder, including
the interests in Stock granted to
holders of Receipts pursuant to the terms
and conditions of the Deposit
Agreement. Each Depositary Share shall
represent an interest in [_____________]
of one share of Stock deposited with the
Depositary hereunder and the same
proportionate interest in any and all other
property received by the Depositary
in respect of such share of Stock and held
under this Deposit Agreement. Subject
to the terms of this Deposit Agreement,
each record holder of a Receipt
evidencing a Depositary Share or Shares is
entitled, proportionately, to all the
rights, preferences and privileges, and
subject to all the qualifications and
restrictions, of the Stock represented by
such Depositary Share or Shares,
including any dividend, voting, conversion,
redemption, liquidation and sinking
fund rights contained in the Certificate of
Designation, and to the benefits of
all obligations and duties of the Company
in respect of the Stock under the
Certificate of Designation and the
Certificate of Incorporation.
"DEPOSITARY'S AGENT" shall mean an agent appointed by the
Depositary as
provided, and for the purposes specified,
in Section 7.5.
"RECEIPT"
shall mean a Depositary Receipt executed and delivered
hereunder, in substantially the form of
Exhibit A hereto, evidencing a
Depositary Share or Shares, as the same may
be amended from time to time to
reflect the terms of any Certificate of
Designation or otherwise in accordance
with the provisions hereof.
"RECORD
HOLDER" or "HOLDER" as applied to a Receipt shall mean the
person
in whose name a Receipt is registered on
the books maintained by or on behalf of
the Depositary for such purpose.
"REGISTRAR" shall mean any company appointed to register ownership
and
transfers of Receipts as herein
provided.
"SECURITIES ACT" shall mean the Securities Act of 1933, as
amended.
"STOCK"
shall mean shares of the Company's [_______]Preferred Stock,
Series [_______], par value $0.001 per
share.
ARTICLE II
FORM OF RECEIPTS, DEPOSIT OF STOCK, EXECUTION AND DELIVERY,
TRANSFER, SURRENDER AND REDEMPTION AND REPURCHASE OF RECEIPTS
SECTION
2.1 FORM AND TRANSFER OF RECEIPTS. Receipts shall be engraved
or
printed or lithographed unless they are
evidenced by a global receipt held by a
depositary for a clearing system and shall
be substantially in the form set
forth in Exhibit A annexed to this Deposit
Agreement, with appropriate
insertions, modifications and omissions to
reflect the terms of any Certificate
of Designation or otherwise, as hereinafter
provided. Receipts shall be executed
by the Depositary by the manual signature
of a duly authorized officer of the
Depositary; provided,
2
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however, that such signature may be a
facsimile if a Registrar (other than the
Depositary) shall have countersigned the
Receipts by manual signature of a duly
authorized officer of the Registrar.
Pending the preparation of definitive
Receipts, the Depositary, upon the written
order of the Company delivered in
accordance with Section 2.2, shall execute
and deliver temporary Receipts which
shall be printed, lithographed,
typewritten, or otherwise reproduced
substantially of the tenor of the
definitive Receipts in lieu of which they are
issued and with appropriate insertions,
modifications, omissions, substitutions
and other variations as the persons
executing such Receipts may determine are
necessary for such temporary Receipts, as
evidenced by their execution of such
temporary Receipts. If temporary Receipts
are issued, the Company and the
Depositary will cause definitive Receipts
to be prepared without unreasonable
delay; provided that if such temporary
Receipts are global Receipts held by a
depositary for a clearing system,
definitive Receipts need not be prepared until
the Receipts cease to be so held. After the
preparation of definitive Receipts,
the temporary Receipts shall be
exchangeable for definitive Receipts upon
surrender of the temporary Receipts at the
Corporate Office or such other office
as the Depositary may designate, without
charge to the holder. Upon surrender
for cancellation of any one or more
temporary Receipts, the Depositary shall
execute and deliver in exchange therefor
definitive Receipts representing the
same number of Depositary Shares as
represented by the surrendered temporary
Receipt or Receipts. Such exchange shall be
made at the Company's expense and
without any charge therefor. Until so
exchanged, the temporary Receipts shall in
all respects be entitled to the same
benefits under this Deposit Agreement, and
with respect to the Stock, as definitive
Receipts.
No Receipt
shall be entitled to any benefits under this Deposit Agreement
or be valid or obligatory for any purpose
unless it shall have been executed as
provided in the preceding paragraph.
The
Depositary shall record on its books each Receipt executed as
provided
above and delivered as hereinafter
provided. Receipts bearing the facsimile
signature of anyone who was at any time a
duly authorized officer of the
Depositary shall bind the Depositary,
notwithstanding that such officer has
ceased to hold such office prior to the
delivery of such Receipts.
Receipts
may be issued in denominations of any number of whole
Depositary
Shares. All Receipts shall be dated the
date of their execution.
Receipts
may be endorsed with or have incorporated in the text thereof
such legends or recitals or changes not
inconsistent with the provisions of this
Deposit Agreement as may be required by the
Depositary or required to comply
with any applicable law or regulation or
with the rules and regulations of any
securities exchange upon which the Stock or
the Depositary Shares may be listed
or to conform with any usage with respect
thereto, or to indicate any special
limitations or restrictions to which any
particular Receipts are subject by
reason of the date of issuance of the Stock
or otherwise.
Title to
any Receipt (and to the Depositary Shares evidenced by such
Receipt) that is properly endorsed or
accompanied by a properly executed
instrument of transfer shall be
transferable by delivery with the same effect as
in the case of investment securities in
general; provided, however, that the
Depositary may, notwithstanding any notice
to the contrary, treat the record
holder thereof at such time as the absolute
owner thereof for the purpose of
determining
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the person entitled to distributions of
dividends or other distributions or to
any notice provided for in this Deposit
Agreement and for all other purposes.
SECTION
2.2 DEPOSIT OF STOCK; EXECUTION AND DELIVERY OF RECEIPTS IN
RESPECT THEREOF. Subject to the terms and
conditions of this Deposit Agreement,
the Company or any holder of Stock may
deposit such Stock under this Deposit
Agreement by delivery to the Depositary of
a certificate or certificates for the
Stock to be deposited, properly endorsed or
accompanied, if required by the
Depositary, by a properly executed
instrument of transfer in form satisfactory
to the Depositary, together with (i) all
such certifications as may be required
by the Depositary in accordance with the
provisions of this Deposit Agreement
and (ii) a written order of the Company or
such holder, as the case may be,
directing the Depositary to execute and
deliver to or upon the written order of
the person or persons stated in such order
a Receipt or Receipts for the number
of Depositary Shares representing such
deposited Stock.
Upon
receipt by the Depositary of a certificate or certificates for
Stock
to be deposited hereunder, together with
the other documents specified above,
the Depositary shall, as soon as transfer
and registration can be accomplished,
present such certificate or certificates to
the registrar and transfer agent of
the Stock for transfer and registration in
the name of the Depositary or its
nominee of the Stock being deposited.
Deposited Stock shall be held by the
Depositary in an account to be established
by the Depositary at the Corporate
Office.
Upon
receipt by the Depositary of a certificate or certificates for
Stock
to be deposited hereunder, together with
the other documents specified above,
the Depositary, subject to the terms and
conditions of this Deposit Agreement,
shall execute and deliver, to or upon the
order of the person or persons named
in the written order delivered to the
Depositary referred to in the first
paragraph of this Section 2.2, a Receipt or
Receipts for the number of whole
Depositary Shares representing the Stock so
deposited and registered in such
name or names as may be requested by such
person or persons. The Depositary
shall execute and deliver such Receipt or
Receipts at the Corporate Office,
except that, at the request, risk and
expense of any person requesting such
delivery and for such person's account or,
upon the order of such person, any
other person's account, such delivery may
be made at such other place as may be
designated by such person. In each case,
delivery will be made only upon payment
to the Depositary of all taxes and other
governmental charges and any fees
payable in connection with such deposit and
the transfer of the deposited Stock.
The
Company shall deliver to the Depositary from time to time such
quantities of Receipts as the Depositary
may request to enable the Depositary to
perform its obligations under this Deposit
Agreement.
SECTION
2.3 REDEMPTION AND REPURCHASE OF STOCK. Whenever the Company
shall
redeem shares of Stock in accordance with a
Certificate of Designation, it shall
(unless otherwise agreed in writing with
the Depositary) give the Depositary in
its capacity as Depositary not less than 3
business days' prior notice of the
proposed date of the mailing of a notice of
redemption of Stock and the
simultaneous redemption of the Depositary
Shares representing the Stock to be
redeemed and of the number of such shares
of Stock held by the Depositary to be
redeemed. Unless the Certificate of
Designation for a specific series of Stock
provides for a different notice period with
respect to that Stock in the event
of its redemption, the Depositary shall, as
directed
4
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by the Company in writing, mail, first
class postage prepaid, notice of the
redemption of Stock and the proposed
simultaneous redemption of the Depositary
Shares representing the Stock to be
redeemed not less than 30 and not more than
60 days prior to the date fixed for
redemption of such Stock and Depositary
Shares, to the record holders of the
Receipts evidencing the Depositary Shares
to be so redeemed at the addresses of such
holders as the same appear on the
records of the Depositary or any
Depositary's Agent or Registrar.
Notwithstanding the foregoing, neither
failure to mail or publish any such
notice to one or more such holders nor any
defect in any notice shall affect the
sufficiency of the proceedings for
redemption. The Company shall provide the
Depositary with such notice, and each such
notice shall state the method for
determining the amount payable per
Depositary Share, the redemption date, and
the number of Depositary Shares to be
redeemed, and such notice shall call upon
each holder of Depositary Shares to
surrender, on the redemption date and at the
place or places designated by the Company,
the Receipts evidencing Depositary
Shares to be redeemed. On the date of any
such redemption the Depositary shall
surrender the certificate or certificates
held by the Depositary evidencing the
number of shares of Stock to be redeemed in
the manner specified in the notice
of redemption of Stock provided by the
Company pursuant to the applicable
Certificate of Designation. The Depositary
shall, thereafter, redeem the number
of Depositary Shares representing such
redeemed Stock upon the surrender of
Receipts evidencing such Depositary Shares
in the manner provided in the notice
sent to record holders of Receipts.
Notice
having been mailed by the Depositary as aforesaid, from and
after
the redemption date (unless the Company
shall have failed to redeem the shares
of Stock to be redeemed by it upon the
surrender of the certificate or
certificates therefor by the Depositary as
described in the preceding
paragraph), the Depositary Shares called
for redemption shall be deemed no
longer to be outstanding and all rights of
the holders of Receipts evidencing
such Depositary Shares (except the right to
receive the cash, securities or
other property payable upon redemption upon
surrender of such Receipts) shall,
to the extent of such Depositary Shares,
cease and terminate. The foregoing
shall be subject further to the terms and
conditions of the applicable
Certificate of Designation.
If fewer
than all the Depositary Shares are to be redeemed, the
Depositary
Shares to be redeemed will be selected by
lot or proportionately, as may be
determined by the Depositary. If fewer than
all of the Depositary Shares
evidenced by a Receipt are called for
redemption, the Depositary will deliver to
the holder of such Receipt upon its
surrender to the Depositary, cash,
securities or other property payable upon
redemption in respect of the
Depositary Shares called for redemption and
a new Receipt evidencing the
Depositary Shares evidenced by such prior
Receipt and not called for redemption.
The
Depositary shall not be required to transfer or exchange for
another
Receipt any Receipt evidencing Depositary
Shares called or being called for
redemption, in whole or in part except as
provided in the immediately preceding
paragraph of this Section 2.3.
Whenever
the Company shall be required to make an offer to repurchase
Depositary Shares representing Stock in
accordance with a Certificate of
Designation, it shall (unless otherwise
agreed in writing with the Depositary)
give the Depositary in its capacity as
Depositary not less than 3 business days'
prior notice of the required date of the
mailing of a notice of the repurchase
offer. The Depositary shall, as directed by
the Company in writing, mail,
5
<PAGE>
first class postage prepaid, notice of the
relevant terms of the repurchase
offer, as provided by the Company, to the
record holders of the Receipts at the
addresses of such holders as the same
appear on the records of the Depositary or
any Depositary's Agent or Registrar,
including: (i) that such notice is being
given pursuant to a repurchase offer, (ii)
the number of Depositary Shares and
Stock for which the offer is being made,
(iii) the method for determining the
amount payable per Depositary Share, (iv)
the last date, which, unless the
Certificate of Designation for a specific
series of Stock provides for a
different period with respect to that Stock
in the event that the Company is
required to make an offer to repurchase it,
shall not be less than 30 nor more
than 60 days after the date of such notice,
by which a holder must elect to
accept the repurchase offer, (v) the
procedures that such holder must follow to
exercise its rights, and (vi) the
procedures for withdrawing an election.
The
Depositary shall, thereafter, receive from each holder electing
to
have Depositary Shares repurchased pursuant
to the repurchase offer in
accordance with the instructions in the
notice, the holder's Receipts, with an
appropriate form duly completed prior to
the repurchase date. Holders will be
entitled to withdraw an election by a
written notice of withdrawal delivered to
the Depositary prior to the close of
business on the repurchase date. The notice
of withdrawal shall state the number of
Depositary Shares and the Receipt
numbers to which the notice of withdrawal
relates and the number of Depositary
Shares and Receipt numbers, if any, which
remain subject to election. In case
the aggregate number of Depositary Shares
offered for repurchase by the holders
exceeds the amount of Depositary Shares
which the Company has offered to
repurchase pursuant to the repurchase
offer, the Depositary Shares to be
repurchased shall be selected by the
Depositary by lot or proportionately, as
may be determined by the Depositary. The
Depositary shall, at the direction of
the Company, cause payment to be mailed or
delivered to each tendering holder as
promptly as reasonably practicable after
the repurchase date, in the amount of
the repurchase price for the Depositary
Shares tendered, and any unpurchased
Depositary Shares to be returned to the
holder thereof. The foregoing is subject
further to the terms and conditions of the
applicable Certificate of
Designation.
SECTION 2.4
REGISTER OF TRANSFER OF RECEIPTS. Subject to the terms and
conditions of this Deposit Agreement, the
Depositary shall register on its books
from time to time transfers of Receipts
upon any surrender thereof at the
Corporate Office, or such other office as
the Depositary may designate for such
purpose, by the record holder in person or
by a duly authorized attorney,
properly endorsed or accompanied by a
properly executed instrument of transfer,
together with evidence of the payment of
any transfer taxes as may be required
by law. Upon such surrender, the Depositary
shall execute a new Receipt or
Receipts and deliver the same to or upon
the order of the person entitled
thereto evidencing the same aggregate
number of Depositary Shares evidenced by
the Receipt or Receipts surrendered.
SECTION
2.5 COMBINATION AND SPLIT-UPS OF RECEIPTS. Upon surrender of a
Receipt or Receipts at the Corporate
Office, or such other office as the
Depositary may designate for the purpose of
effecting a split-up or combination
of Receipts, subject to the terms and
conditions of this Deposit Agreement, the
Depositary shall execute and deliver a new
Receipt or Receipts in the authorized
denominations requested evidencing the same
aggregate number of Depositary
Shares evidenced by the Receipt or Receipts
surrendered; provided, however, that
the Depositary shall not issue any Receipt
evidencing a fractional Depositary
Share.
6
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SECTION
2.6 SURRENDER OF RECEIPTS AND WITHDRAWAL OF STOCK. Any holder of
a
Receipt, including the Company, shall have
the right, upon payment of any amount
due to the Depositary with respect to the
Receipt, to withdraw any or all of the
Stock (but only in whole shares of Stock)
represented by the Depositary Shares
and all money and other property, if any,
represented by such Depositary Shares
by surrendering the Receipt or Receipts
evidencing such Depositary Shares at the
Corporate Office, or at such other office
as the Depositary may designate for
such withdrawals (and cancellation of the
surrendered Receipts as provided in
Section 2.9). After such surrender, without
unreasonable delay, the Depositary
shall deliver to the holder the whole
number of shares of Stock and all such
money and other property, if any,
represented by the Depositary Shares evidenced
by the Receipt or Receipts so surrendered
for withdrawal. If the Receipt or
Receipts delivered by the holder to the
Depositary in connection with such
withdrawal shall evidence a number of
Depositary Shares in excess of the number
of whole Depositary Shares representing the
whole number of shares of Stock to
be withdrawn, the Depositary shall at the
same time, in addition to such whole
number of shares of Stock and such money
and other property, if any, to be
withdrawn, deliver to the holder, or
(subject to Section 2.4) upon its order, a
new Receipt or Receipts evidencing such
excess number of whole Depositary
Shares.
Delivery
of the Stock and such money and other property being withdrawn
may be made by the delivery of such
certificates, documents of title and other
instruments as the Depositary may deem
appropriate, which, if required by the
Depositary, shall be properly endorsed or
accompanied by proper instruments of
transfer.
The
Depositary shall deliver the Stock and the money and other
property,
if any, represented by the Depositary
Shares evidenced by Receipts surrendered
for withdrawal, without unreasonable delay,
at the office at which such Receipts
were surrendered, except that, at the
request, risk and expense of the Company
such delivery may be made, without
unreasonable delay, at such other place as
may be designated by the Company.
For
purposes of determining the number of Depositary Shares outstanding
on
any dividend payment date, the Receipts
representing Depositary Shares acquired
by the Company on or prior to such dividend
payment date and not theretofore
delivered to the Depositary for withdrawal
and cancellation shall be deemed to
be outstanding.
SECTION
2.7 LIMITATIONS ON EXECUTION AND DELIVERY, TRANSFER, SPLIT-UP,
COMBINATION AND SURRENDER OF RECEIPTS AND
WITHDRAWAL OR DEPOSIT OF STOCK. As a
condition precedent to the execution and
delivery, registration of transfer,
split-up, combination, or surrender of any
Receipt, the delivery of any
distribution thereon or withdrawal or
deposit of Stock, or the exercise of any
conversion right referred to in Section
2.10, the Depositary, any of the
Depositary's Agents, the Registrar or the
Company may require any or all of the
following: (i) payment to it of a sum
sufficient for the payment (or, in the
event that the Depositary or the Company
shall have made such payment, the
reimbursement to it) of any tax or other
governmental charge or fee with respect
thereto (including any such tax or charge
or fee with respect to the Stock being
deposited or the Stock being withdrawn or
with respect to property of the
Company being issued upon redemption or
conversion); (ii) production of proof
satisfactory to it as to the identity and
genuineness of any signature; and
(iii) compliance with such
7
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reasonable regulations, if any, as the
Depositary or the Company may establish
not inconsistent with the provisions of
this Deposit Agreement.
The
deposit of Stock may be refused, or the registration of
transfer,
split-up, combination or surrender of
outstanding Receipts and the withdrawal of
deposited Stock or the exercise of any
conversion right referred to in Section
2.10 may be suspended (i) during any period
when the register of stockholders of
the Company is closed, (ii) if any such
action is deemed necessary or advisable
by the Depositary, any of the Depositary's
Agents or the Company at any time or
from time to time because of any
requirement of law or of any government or
governmental body or commission, or under
any provision of this Deposit
Agreement, or (iii) with the approval of
the Company, for any other reason.
Without limitation of the foregoing, the
Depositary shall not knowingly accept
for deposit under this Deposit Agreement
any shares of Stock that are required
to be registered under the Securities Act
unless a registration statement under
the Securities Act is in effect as to such
shares of Stock.
SECTION
2.8 LOST RECEIPTS, ETC. In case any Receipt shall be mutilated
or
destroyed or lost or stolen, the Depositary
shall execute and deliver a Receipt
of like form and tenor in exchange and
substitution for such mutilated Receipt
or in lieu of and in substitution for such
destroyed, lost or stolen Receipt
unless the Depositary has notice that such
Receipt has been acquired by a bona
fide purchaser; provided, however, that the
holder thereof provides the
Depositary with (i) evidence satisfactory
to the Depositary of such destruction,
loss or theft of such Receipt, of the
authenticity thereof and of his ownership
thereof, (ii) reasonable indemnification
satisfactory to the Depositary or the
payment of any charges incurred by the
Depositary in obtaining insurance in lieu
of such indemnification and (iii) payment
of any expense (including fees,
charges and expenses of the Depositary) in
connection with such execution and
delivery.
SECTION
2.9 CANCELLATION AND DESTRUCTION OF SURRENDERED RECEIPTS. All
Receipts surrendered to the Depositary or
any Depositary's Agent shall be
cancelled by the Depositary. Except as
prohibited by applicable law or
regulation, the Depositary is authorized to
destroy such Receipts so canceled.
SECTION
2.10 CONVERSION. In the event that the Stock, in accordance
with
its Certificate of Designation, is
convertible into the Company's common stock
or other securities, subject to the terms
and conditions of this Deposit
Agreement, a holder of a Receipt or
Receipts may surrender such Receipt or
Receipts at the Corporate Office or at such
other office or to a Depositary's
Agent that the Depositary may designate for
such purpose, together with a notice
of conversion duly completed and executed,
thereby directing the Depositary or
such Depositary's Agent to instruct the
Company to cause the conversion of the
number of shares of Stock specified in such
notice of conversion into shares of
the Company's common stock or other
securities at the rate specified in the
applicable Certificate of Designation, and
an assignment of such Receipt or
Receipts to the Company or in blank, duly
completed and executed, along with any
other documents or instruments and any
amounts required by the applicable
Certificate of Designation.
Upon
receipt by the Depositary or a Depositary's Agent of a Receipt
or
Receipts, together with a notice of
conversion, duly completed and executed,
directing the Depositary or
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such Depositary's Agent to instruct the
Company to cause the conversion of a
specified number of shares of Stock at the
rate specified in the applicable
Certificate of Designation, and an
assignment of such Receipt or Receipts to the
Company or in blank, duly completed and
executed, along with any other documents
or instruments or amounts referred to in
the preceding paragraph, the Depositary
or such Depositary's Agent shall instruct
the Company, subject to any adjustment
provided for in the applicable Certificate
of Designation, (i) to cause the
conversion at the rate specified in the
applicable Certificate of Designation of
the number of shares of Stock represented
by the Depositary Shares evidenced by
the Receipt or Receipts so surrendered for
conversion as specified in the
written notice to the Depositary or such
Depositary's Agent and (ii) to cause
the delivery to the holder of such Receipt
or Receipts of (a) a certificate or
certificates evidencing the number of whole
shares of the Company's common stock
or other securities into which such Stock
has been converted, and (b) the amount
of cash or other property, if any, to which
such holder is entitled in lieu of
fractional shares of, or fractional
interests in, the Company's common stock or
other securities otherwise deliverable by
the Company upon such conversion,
calculated in accordance with the
applicable Certificate of Designation. The
Company shall as promptly as practicable
after receipt thereof cause the
delivery of the certificate or certificates
and cash or other property, if any,
referred to in clauses (a) and (b) above,
and such conversion shall be deemed to
have been effected immediately prior to the
close of business on the date of
such receipt and shall occur at the rate
specified in the Certificate of
Designation in effect at such time and on
such date. Upon such conversion, the
Depositary or such Depositary's Agent (i)
shall deliver to the holder a Receipt
evidencing the number of Depositary Shares
evidenced by the surrendered Receipt
or Receipts in excess of the number of
Depositary Shares evidenced by such
Receipt or Receipts that have been so
converted, (ii) shall cancel the Receipts
surrendered for conversion and (iii) shall
deliver to the Company for
cancellation the number of shares of Stock
evidenced by the Receipts so
surrendered and so converted. Upon the
delivery of the shares of Stock to be
cancelled due to such conversion by the
Depositary or such Depositary's Agent to
the Company, the Company shall deliver to
the Depositary or such Depositary's
Agent, as applicable, a certificate or
certificates evidencing the number of
shares of Stock, if any, that equals the
excess of the number of shares
evidenced by the surrendered certificate
over the number of shares evidenced by
that certificate that have been so
converted. Depositary Shares converted in
connection with conversion of the Stock
represented thereby shall only be
converted in whole, and not in part.
Upon the
conversion of any Stock for which a notice of conversion has
been
provided to the Depositary or a
Depositary's Agent by the holder of the Receipt
or Receipts representing such Stock, the
Depositary Shares evidenced by such
Receipt or Receipts shall be deemed no
longer outstanding, all rights of the
holder of the Receipt or Receipts
evidencing such Depositary Shares (except the
right to receive (i) the Company's common
stock or other securities to which
such holder is entitled upon conversion in
accordance with the applicable
Certificate of Designation, (ii) any cash
or other property payable in
accordance with the applicable Certificate
of Designation with respect to any
fractional shares or other fractional
interests in the Company's common stock or
other securities otherwise deliverable by
the Company upon conversion, (iii) any
Receipts evidencing Depositary Shares
representing Stock which was not so
converted and (iv) any other securities,
property or cash to which such holder
is entitled under this Deposit Agreement)
shall cease and terminate, and the
Receipt or Receipts evidencing such
Depositary Shares shall be cancelled.
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No
fractional shares or other fractional interests in the Company's
common
stock or other securities shall be
deliverable by the Company upon conversion of
the Stock represented by the Depositary
Shares.
ARTICLE III
CERTAIN OBLIGATIONS OF HOLDERS OF RECEIPTS AND THE COMPANY
SECTION
3.1 FILING PROOFS, CERTIFICATES AND OTHER INFORMATION. Any
person
presenting Stock for deposit or any holder
of a Receipt may be required from
time to time to file such proof of
residence or other information, to execute
such certificates and to make such
representations and warranties as the
Depositary or the Company may reasonably
deem necessary or proper. The
Depositary or the Company may withhold or
delay the delivery of any Receipt, the
registration of transfer or redemption of
any Receipt, the withdrawal of the
Stock represented by the Depositary Shares
evidenced by any Receipt, the
distribution of any dividend or other
distribution or the exercise of any
conversion right referred to in Section
2.10, or refuse to accept Receipts that
are delivered for surrender, until such
proof or other information is filed,
such certificates are executed or such
representations and warranties are made.
SECTION
3.2 PAYMENT OF TAXES OR OTHER GOVERNMENTAL CHARGES. If any tax
or
other governmental charge or fee shall
become payable by or on behalf of the
Depositary with respect to (i) any Receipt,
(ii) the Depositary Shares evidenced
by such Receipt, (iii) the Stock (or
fractional interest therein) or other
property represented by such Depositary
Shares, or (iv) any transaction referred
to in Section 4.6, such tax (including
transfer, issuance or acquisition taxes,
if any) or governmental charge or fee shall
be payable by the holder of such
Receipt, who shall pay the amount thereof
to the Depositary. Until such payment
is made, registration or transfer of any
Receipt or any split-up or combination
thereof or any withdrawal of the Stock or
money or other property, if any,
represented by the Depositary Shares
evidenced by such Receipt or Receipts
delivered for surrender or the exercise of
any conversion right referred to in
Section 2.10 may be refused, any dividend
or other distribution may be withheld
and any part or all of the Stock or other
property represented by the Depositary
Shares evidenced by such Receipt may be
sold for the account of the holder
thereof (after attempting by reasonable
means to notify such holder prior to
such sale). Any dividend or other
distribution so withheld and the proceeds of
any such sale may be applied to any payment
of such tax or other governmental
charge or fee, the holder of such Receipt
remaining liable for any deficiency.
SECTION
3.3 WITHHOLDING. The Depositary shall act as the tax
withholding
agent for any payments, distributions made
with respect to the Depositary Shares
and Receipts, and the Stock. The Depositary
shall be responsible with respect to
the Depositary Shares, Receipts and Stock
for the timely (i) collection and
deposit of any required withholding or
backup withholding tax, and (ii) filing
of any information returns or other
documents with federal (and other
applicable) taxing authorities.
SECTION
3.4 REPRESENTATIONS AND WARRANTIES AS TO STOCK. In the case of
the
initial deposit of the Stock, the Company
and, in the case of subsequent
deposits thereof, each person so depositing
Stock under this Deposit Agreement
shall be deemed thereby to represent and
warrant that such Stock and each
certificate therefor are valid and that the
person making such
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deposit is duly authorized to do so. Such
representations and warranties shall
survive the deposit of the Stock and the
issuance of Receipts therefor.
ARTICLE IV
THE STOCK, NOTICES
SECTION
4.1 CASH DISTRIBUTIONS. Whenever the Depositary shall receive
any
cash dividend or other cash distribution on
the Stock (other than cash dividends
or cash distributions paid by the Company
in lieu of fractional shares or other
fractional interests in the Company's
common stock or other securities otherwise
deliverable by the Company in accordance
with the applicable Certificate of
Designation), the Depositary shall, subject
to Section 3.2, distribute to record
holders of Receipts on the record date
fixed pursuant to Section 4.4 such
amounts of such sum as are, as nearly as
practicable, in proportion to the
respective numbers of Depositary Shares
evidenced by the Receipts held by such
holders; provided, however, that in case
the Company or the Depositary shall be
required by law to withhold and does
withhold from any cash dividend or other
cash distribution in respect of the Stock
an amount on account of taxes, the
amount made available for distribution or
distributed in respect of Depositary
Shares shall be reduced accordingly. The
Depositary shall distribute or make
available for distribution, as the case may
be, only such amount, however, as
can be distributed without attributing to
any holder of Depositary Shares a
fraction of one cent and any balance not so
distributable shall be held by the
Depositary (without liability for interest
thereon) and shall be added to and be
treated as part of the next sum received by
the Depositary for distribution to
record holders of Receipts then
outstanding.
SECTION
4.2 DISTRIBUTIONS OTHER THAN CASH. Whenever the Depositary
shall
receive any distribution other than cash,
rights, preferences or privileges upon
the Stock, the Depositary shall, subject to
Section 3.2, distribute to record
holders of Receipts on the record date
fixed pursuant to Section 4.4 such
amounts of the securities or property
received by it as are, as nearly as
practicable, in proportion to the
respective numbers of Depositary Shares
evidenced by the Receipts held by such
h