CONTRIBUTION AGREEMENT AMONG TIME WARNER INC. GOOGLE INCContribution Agreement |
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Exhibit 10.21
CONTRIBUTION AGREEMENT
AMONG
TIME WARNER INC.
GOOGLE INC.
and
AMERICA ONLINE, INC.
TABLE OF CONTENTS
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Page |
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ARTICLE I Pre-Closing Actions |
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SECTION 1.01. |
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Formation of NewCo |
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1 |
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SECTION 1.02. |
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Contribution of AOL to NewCo |
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1 |
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SECTION 1.03. |
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Conversion of AOL |
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1 |
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SECTION 1.04. |
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Formation of HoldCo |
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1 |
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SECTION 1.05. |
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AOL Transfers to NewCo |
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2 |
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ARTICLE II Closing Date Actions |
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SECTION 2.01. |
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NewCo Borrowing |
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3 |
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SECTION 2.02. |
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Closing |
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4 |
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SECTION 2.03. |
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Time and Place of Closing |
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5 |
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ARTICLE III General Representations and Warranties of Time Warner |
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SECTION 3.01. |
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Organization, Standing and Power |
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5 |
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SECTION 3.02. |
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Authority; Execution and Delivery; Enforceability |
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5 |
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SECTION 3.03. |
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No Conflicts; Consents |
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6 |
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SECTION 3.04. |
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Membership Interests |
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7 |
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SECTION 3.05. |
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Equity Interests in AOL |
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7 |
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ARTICLE IV Specified Representations and Warranties of Time Warner |
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SECTION 4.01. |
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AOL Subsidiaries |
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7 |
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SECTION 4.02. |
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SEC Documents |
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8 |
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SECTION 4.03. |
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Absence of Certain Changes or Events |
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8 |
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SECTION 4.04. |
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Compliance with Applicable Laws |
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9 |
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SECTION 4.05. |
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Ownership of Permits; Title to Assets |
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9 |
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SECTION 4.06. |
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Adequacy of Internal Controls |
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9 |
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ARTICLE V Representations and Warranties of Google |
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SECTION 5.01. |
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Organization, Standing and Power |
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9 |
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SECTION 5.02. |
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Authority; Execution and Delivery; Enforceability |
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10 |
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SECTION 5.03. |
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No Conflicts; Consents |
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10 |
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SECTION 5.04. |
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Accredited Investor |
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10 |
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ARTICLE VI Pre-Closing Covenants |
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SECTION 6.01. |
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Best Efforts |
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11 |
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SECTION 6.02. |
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Regulatory Filings |
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11 |
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ARTICLE VII Additional Covenants |
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SECTION 7.01. |
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Contribution of AOLA Assets |
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11 |
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SECTION 7.02. |
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Cash Contribution |
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11 |
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SECTION 7.03. |
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Tax Characterization |
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12 |
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ARTICLE VIII Conditions Precedent |
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SECTION 8.01. |
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Conditions to each Party’s Obligations |
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12 |
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SECTION 8.02. |
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Conditions to Obligations of Google |
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12 |
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SECTION 8.03. |
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Conditions to Obligations of Time Warner, Etc |
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13 |
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ARTICLE IX Termination; Waiver |
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SECTION 9.01. |
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Termination |
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13 |
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SECTION 9.02. |
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Extension; Waiver |
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15 |
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ARTICLE X Miscellaneous |
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SECTION 10.01. |
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Survival of Representations and Warranties |
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15 |
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SECTION 10.02. |
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Definitions |
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15 |
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SECTION 10.03. |
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Notices |
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16 |
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SECTION 10.04. |
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Failure to Pursue Remedies |
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17 |
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SECTION 10.05. |
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Cumulative Remedies |
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17 |
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SECTION 10.06. |
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Parties in Interest |
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17 |
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SECTION 10.07. |
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Headings |
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18 |
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SECTION 10.08. |
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Severability |
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18 |
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SECTION 10.09. |
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Counterparts |
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18 |
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SECTION 10.10. |
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Entire Agreement |
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18 |
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SECTION 10.11. |
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Governing Law; Waiver of Jury Trial |
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18 |
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SECTION 10.12. |
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Absence of Presumption |
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18 |
iii
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SCHEDULES |
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Schedule A |
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Initial Members and Membership Interests |
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Schedule B |
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Minority and Non-AOL Investments |
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Schedule C |
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HoldCo Adjusted Balance Sheet |
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Schedule D |
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AOL Guarantees |
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