<PAGE>
EXHIBIT 10.2
STOCKHOLDER AGREEMENT
dated as of
October 1, 2005
between
VISTEON CORPORATION
and
FORD MOTOR COMPANY
<PAGE>
TABLE OF CONTENTS
<TABLE>
<CAPTION>
PAGE
----
<S>
<C>
ARTICLE 1
DEFINITIONS
Section 1.01.
Definitions................................................
1
ARTICLE 2
REGISTRATION RIGHTS
Section 2.01. Shelf
Registration......................................... 4
Section 2.02. Demand
Registration........................................ 4
Section 2.03.
Postponement...............................................
7
Section 2.04. Piggyback
Registration..................................... 8
Section 2.05.
Expenses...................................................
9
Section 2.06. Registration and
Qualification............................. 9
Section 2.07. Underwriting; Due
Diligence................................ 12
Section 2.08. Indemnification and
Contribution........................... 13
Section 2.09. Rule 144 and Form
S-3...................................... 17
Section 2.10. Lock-Up
Agreements......................................... 17
Section 2.11. Inconsistent
Agreements.................................... 18
ARTICLE 3
VOTING
Section 3.01. Voting of Warrant
Shares................................... 18
ARTICLE 4
STANDSTILL
Section 4.01.
Standstill.................................................
19
ARTICLE 5
HEDGING
Section 5.01. Limitations on
Hedging..................................... 21
Section 5.02.
Notice.....................................................
21
</TABLE>
i
<PAGE>
<TABLE>
<S>
<C>
ARTICLE 6
TRANSFER RESTRICTIONS
Section 6.01. Transfers; Rights of
Transferees of Registrable
Securities; Legends........................................
22
ARTICLE 7
MISCELLANEOUS
Section 7.01.
Remedies...................................................
23
Section 7.02. Waiver; Consents to
Amendments............................. 23
Section 7.03. Successors and
Assigns..................................... 23
Section 7.04.
Severability...............................................
24
Section 7.05. Counterparts; Effectiveness; Third Party
Beneficiaries.... 24
Section 7.06. Descriptive Headings;
Interpretation....................... 24
Section 7.07. Governing
Law.............................................. 24
Section 7.08. Dispute
Resolution......................................... 24
Section 7.09.
Jurisdiction...............................................
25
Section 7.10. WAIVER OF JURY
TRIAL....................................... 26
Section 7.11. Addresses and
Notices...................................... 26
Section 7.12. Business
Days.............................................. 27
</TABLE>
ii
<PAGE>
STOCKHOLDER AGREEMENT
AGREEMENT (this
"AGREEMENT") dated as of October 1, 2005 between Ford Motor
Company, a Delaware corporation ("FORD"),
and Visteon Corporation, a Delaware
corporation (the "COMPANY").
WITNESSETH:
WHEREAS,
pursuant to the Visteon "A" Transaction Agreement dated as of
September 12, 2005 between Ford and the
Company (the "TRANSACTION AGREEMENT"),
among other things Ford is acquiring a
warrant for the purchase of shares of
common stock, par value $1.00 per share, of
the Company (the "COMMON STOCK");
and
WHEREAS, the
parties hereto desire to enter into this Agreement to govern
certain of their rights, duties and
obligations after consummation of the
transactions contemplated by the
Transaction Agreement;
NOW, THEREFORE,
in consideration of the mutual promises made herein and
other good and valuable consideration, the
receipt and sufficiency of which are
hereby acknowledged, the parties hereto,
intending to be legally bound, agree as
follows:
ARTICLE 1
DEFINITIONS
Section 1.01.
Definitions. (a) The following capitalized terms shall have
the meanings set forth below:
"AFFILIATE"
means, with respect to any Person, any other Person directly or
indirectly controlling, controlled by, or
under common control with such other
Person. For the purpose of this definition,
the term "control" (including, with
correlative meanings, the terms
"controlling", "controlled by" and "under common
control with"), as used with respect to any
Person, means having the right to
elect a majority of the board of directors
or other comparable body responsible
for management and direction of a Person,
or otherwise having, directly or
indirectly, the power to direct or cause
the direction of the management and
policies of such Person, by contract or by
virtue of share ownership.
"BENEFICIAL
OWNERSHIP" shall be determined in accordance with Rule 13d-3
under the 1934 Act.
"BOARD OF
DIRECTORS" means the board of directors of the Company.
<PAGE>
"BUSINESS DAY"
means a day, other than Saturday, Sunday or other day on
which commercial banks in Detroit, Michigan
are authorized or required by law to
close.
"CLOSING" means
the date on which the transactions contemplated by the
Transaction Agreement are consummated.
"HEDGING
TRANSACTION" means, with respect to any security, a short sale
with respect to such security, entering
into or acquiring an offsetting
derivative contract with respect to such
security, entering into or acquiring a
futures or forward contract to deliver such
security or entering into any other
hedging or other derivative transaction
that has the effect of materially
changing the economic benefits and risks of
ownership.
"HOLDER" means
Ford and, subject to Article 6, any Permitted Transferees.
"INITIAL
REQUESTING HOLDER" means the Requesting Holders initiating the
registration pursuant to the first sentence
of Section 2.02(a).
"MAJORITY
HOLDERS" means the Holders holding a majority in aggregate of
the
Registrable Securities held by all
Holders.
"1933 ACT" means
the Securities Act of 1933, as amended, and the rules and
regulations promulgated thereunder.
"1934 ACT" means
the Securities Exchange Act of 1934, as amended, and the
rules and regulations promulgated
thereunder.
"OTHER
SECURITIES" has the meaning ascribed thereto in Section
2.04(a).
"PERMITTED
TRANSFEREE" means any Person to whom the Registrable Securities
are transferred in accordance with Article
6.
"PERSON" means an
individual, corporation, partnership, limited liability
company, association, trust or other entity
or organization, including a
government or political subdivision or an
agency or instrumentality thereof.
"REGISTRABLE
SECURITIES" means (i) the Warrant Shares and (ii) any
securities issued directly or indirectly
with respect to such securities by way
of a split, dividend, or other division of
securities, or in connection with a
combination of securities,
recapitalization, merger, consolidation or other
reorganization of the Company. As to any
particular Registrable Securities, such
Registrable Securities shall cease to be
Registrable Securities when they (A)
have been effectively registered under the
1933 Act and disposed of in
accordance with the registration statement
covering them, (B) have been sold
pursuant to Rule 144 under the 1933 Act,
(C) could immediately be sold pursuant
to Rule 144(k) under the 1933 Act or (D)
have been repurchased by the Company or
otherwise cease to be outstanding.
2
<PAGE>
"REGISTRATION
EXPENSES" means any and all expenses incident to performance
of or compliance with any registration or
marketing of securities pursuant to
Article 2, including (i) the fees,
disbursements and expenses of the Company's
counsel and accountants in connection with
this Agreement and the performance of
the Company's obligations hereunder
(including the expenses of any annual audit
letters and "cold comfort" letters required
or incidental to the performance of
such obligations); (ii) all expenses,
including filing fees, in connection with
the preparation, printing and filing of the
registration statement, any
preliminary prospectus or final prospectus,
any other offering document and
amendments and supplements thereto and the
mailing and delivering of copies
thereof to any underwriters and dealers;
(iii) the cost of printing and
producing any agreements among
underwriters, underwriting agreements, selling
group agreements and any other customary
documents in connection with the
marketing of securities pursuant to Article
2; (iv) all expenses in connection
with the qualification of the securities to
be disposed of for offering and sale
under state securities laws, including the
reasonable fees and disbursements of
counsel for the underwriters or the Holders
of securities in connection with
such qualification and in connection with
any blue sky and legal investment
surveys, including the cost of printing and
producing any such blue sky or legal
investment surveys; (v) the filing fees
incident to securing any required review
by the National Association of Securities
Dealers, Inc. of the terms of the
securities being registered pursuant to
Article 2; (vi) transfer agents' and
registrars' fees and expenses and the fees
and expenses of any other agent or
trustee appointed in connection with such
offering; (vii) all security engraving
and security printing expenses; (viii) all
fees and expenses payable in
connection with the listing of the
securities on any securities exchange or
automated interdealer quotation system;
(ix) the costs and expenses of the
Company and its officers relating to
analyst or investor presentations, if any,
or any "road show" undertaken in connection
with the registration and/or
marketing of any Registrable Securities;
and (x) the reasonable fees and
expenses (up to a maximum of Thirty
Thousand Dollars ($30,000) in the aggregate
for all registrations contemplated by this
Agreement) of no more than one legal
counsel to the Holders selected by Holders
holding a majority of the Registrable
Securities included in the relevant
registration statement, as applicable. In no
event shall Registration Expenses be deemed
to include underwriting discounts
and commissions, brokerage fees and
transfer taxes, if any.
"REQUESTING
HOLDERS" means the Holders requesting the registration of their
Registrable Securities pursuant to Section
2.02(a) or 2.02(f).
"RULE 415
OFFERING" means an offering on a delayed or continuous basis
pursuant to Rule 415 (or any successor rule
to similar effect) promulgated under
the 1933 Act.
"SEC" means the
Securities and Exchange Commission.
3
<PAGE>
"SELLING HOLDER"
means a Holder of Registrable Securities included in the
relevant registration statement.
"SHELF
REGISTRATION STATEMENT" means a "shelf" registration statement
of
the Company relating to a Rule 415 Offering
which covers all of the Registrable
Securities held by the Holders, on Form S-3
under the 1933 Act, and all
amendments and supplements to such
registration statement, including
post-effective amendments, in each case
including the Prospectus contained
therein, all exhibits thereto and all
materials incorporated by reference
therein.
"WARRANT" means
the Warrant to purchase shares of Common Stock as described
in the Transaction Agreement.
"WARRANT SHARES"
means the shares of Common Stock deliverable upon exercise
of the Warrant, as adjusted from time to
time.
ARTICLE 2
REGISTRATION RIGHTS
Section 2.01.
Shelf Registration. Provided that the Company is eligible to
file a registration statement on Form S-3,
it shall, not later than 270 days
after the date hereof or, if later, as soon
as is reasonably practicable after
it becomes eligible to file a registration
statement on Form S-3, cause to be
filed a Shelf Registration Statement, and
shall use its reasonable best efforts
to have such Shelf Registration Statement
declared effective by the SEC within
one year after the date hereof or as soon
as is reasonably practicable after it
becomes eligible to use Form S-3.
(b) Subject to
the terms of this Agreement, the Company agrees to use
reasonable best efforts to keep the Shelf
Registration Statement continuously
effective from the date the SEC declares
the Shelf Registration Statement
effective until the first date that the
Holders cease to hold any Registrable
Securities.
Section 2.02.
Demand Registration. If at any time after the first
anniversary of the Closing or after a
Change of Control (as defined in the
Warrant), a Shelf Registration Statement is
not effective (subject to any
permitted postponement pursuant to Section
2.03), the Majority Holders may
request in writing that the Company effect
the registration under the 1933 Act
of any or all of the Registrable Securities
held by such requesting Holders,
which notice shall specify the intended
method or methods of disposition of such
Registrable Securities. Except as otherwise
provided herein, the Company shall
prepare and (within ninety (90) days after
such request has been given) file
with the SEC a registration statement with
respect to (x) all Registrable
Securities included in such request and (y)
all Registrable Securities included
in any request delivered
4
<PAGE>
by the Requesting Holders pursuant to
Section 2.02(f), and thereafter use its
reasonable best efforts to effect the
registration under the 1933 Act and
applicable state securities laws of such
Registrable Securities for disposition
in accordance with the intended method or
methods of disposition stated in such
request; provided that the Company shall
not be obligated to effect any such
registration pursuant to this Section
2.02(a) if (i) within thirty (30) days of
receipt of a written request from the
Requesting Holders, the Company gives
notice to the Requesting Holders that the
Company intends to effect an offering
of the Company's securities for the
Company's account and has taken substantial
steps (including, but not limited to,
selecting a managing underwriter or
placement agent for such offering) and is
proceeding with reasonable diligence
to effect such offering (provided that in
such case, the Company shall, subject
to Section 2.04(c), use its reasonable best
efforts to include in the
registration relating to such public
offering all Registrable Securities
requested to be included by any Holder
pursuant to Section 2.04(c) and, in the
event Section 2.04(c) applies to such
registration, shall include in such
registration a number of such Registrable
Securities that is equal to at least
25% of the shares of Common Stock (on an
as-converted basis, with respect to
securities convertible into or exchangeable
for Common Stock to be included in
such registration) that the Company is
registering pursuant to such
registration) or (ii) the Requesting
Holders propose to sell less than all
Registrable Securities then held by them
pursuant to such registration statement
and the estimated aggregate price to the
public of such Registrable Securities
is less than Five Million Dollars
($5,000,000).
(b) The Majority
Holders may collectively exercise their rights under this
Section 2.02 on not more than three
occasions.
(c) The Holders
shall not have the right to require the filing of a
registration statement pursuant to this
Section 2.02 while any registration
statement that has been filed pursuant to
this Section 2.02 has yet to become
effective or within six months following
the effectiveness of any registration
statement on Form S-1 that was filed
pursuant to this Section 2.02.
(d) A
registration pursuant to this Section 2.02 shall not be deemed
to
have been effected (and, therefore, rights
of a Requesting Holder shall be
deemed not to have been exercised for
purposes of paragraph (a) above) (i) if it
has not become effective, (ii) if after it
has become effective such
registration (or the use of the prospectus
contained in such registration
statement) is (A) interfered with by any
stop order, injunction or other order
or requirement of the SEC or other
governmental agency or court for any reason
other than a misrepresentation or an
omission by any Holder or underwriter or
(B) delayed, withdrawn, suspended or
terminated and, in each case, as a result
thereof, the Registrable Securities
requested to be registered cannot be
completely distributed in accordance with
the plan of distribution set forth in
the related registration statement (until
such time as the Registrable
Securities requested to be registered may
be completely distributed in
accordance with the plan of distribution
set forth in the related
5
<PAGE>
registration statement) or (iii) if the
conditions to closing specified in any
purchase agreement or underwriting
agreement containing customary terms for
secondary offerings by selling
securityholders entered into by the Company in
connection with such registration are not
satisfied or waived other than because
of some act or omission by any Holder or
underwriter.
(e) In the event
that any registration pursuant to Section 2.02(a) shall
involve, in whole or in part, an
underwritten offering, the Holders of a
majority of the Registrable Securities to
be registered shall select the lead
underwriter or underwriters (which
selection or selections shall be subject to
the approval of the Company, which approval
shall not be unreasonably withheld),
as well as counsel for the Holders, with
respect to such registration. The
parties hereto acknowledge and agree that
the Company shall have sole discretion
with respect to the selection of
underwriters for any registration pursuant to
Section 2.04 that involves an underwritten
offering.
(f) Upon receipt
of a written request from the Initial Requesting Holders
pursuant to the first sentence of Section
2.02(a), the Company shall promptly
give written notice of such requested
registration to all other Holders of
Registrable Securities and the intended
method or methods of disposition stated
in such request. Each other Holder may, by
written notice to the Company to be
delivered within ten (10) days of the
delivery of the Company's notice, request
the inclusion in such registration of any
Registrable Securities held by such
other Holder. The Company shall promptly
after the expiration of such 10-day
period notify each Requesting Holder of (i)
the identity of the other Requesting
Holders and (ii) the number of Registrable
Securities requested to be included
therein by each Requesting Holder. In the
event that the Initial Requesting
Holders intend to distribute the
Registrable Securities covered by their request
by means of an underwriting, the right of
any Holder to include all or any
portion of its Registrable Securities in
such registration shall be conditioned
upon such Holder's participation in such
underwriting and the inclusion of such
Holder's Registrable Securities in the
underwriting to the extent provided
herein. All Holders proposing to distribute
all of any portion of their
Registrable Securities through such
underwriting shall enter into an
underwriting agreement in customary form
(for secondary sales by selling
stockholders) with the underwriter or
underwriters selected pursuant to Section
2.02(e).
(g) The Company
shall have the right to cause the registration of
additional equity securities for sale for
the account of any Person that is not
a Holder (including the Company and any
directors, officers or employees of the
Company (such additional equity securities,
the "ADDITIONAL EQUITY SECURITIES"))
in any registration of Registrable
Securities requested by the Requesting
Holders; provided that if such registration
is to be an underwritten
registration and such Requesting Holders
are advised in writing (with a copy to
the Company) by a nationally recognized
investment banking firm selected
pursuant to paragraph (e) above that, in
such firm's good faith view, all or a
part of the equity securities to
6
<PAGE>
be included in such registration (including
any Additional Equity Securities)
cannot be sold and the inclusion of all or
part of the equity securities that
would otherwise be included in such
registration would be likely to have an
adverse effect on the price, timing or
distribution of the offering and sale of
the equity securities to be included in
such registration, then the Company
shall exclude from such registration such
Additional Equity Securities or part
thereof, to the nearest extent possible on
a pro rata basis, in which case the
Company shall include in such
registration:
(i) first, up to the full number of Registrable Securities and
(ii) second, up to the full number of any other Additional
Equity
Securities, if
any, in excess of the Registrable Securities to be sold in
such offering
which, in the good faith view of such investment banking
firm, can be so
sold without so adversely affecting such offering in the
manner described
above.
In the event that the
number of Registrable Securities requested to be
included in a registration statement that
will not include any Additional Equity
Securities by the Requesting Holders
exceeds the number which, in the good faith
view of such investment banking firm, can
be sold without adversely affecting
the price, timing, distribution or sale of
securities in the offering, the
number shall be allocated pro rata among
all of the Requesting Holders on the
basis of the relative number of Registrable
Securities then held by each such
Requesting Holder (with any number in
excess of a Requesting Holder's request
reallocated among the remaining Requesting
Holders in a like manner).
Section 2.03.
Postponement. The Company shall be entitled to postpone for a
reasonable period of time up to ninety (90)
days the filing of any registration
statement or any amendment or supplement
thereto otherwise required to be
prepared and filed by it pursuant to
Section 2.01 or 2.02 if the Company
furnishes to the Holders a certified
resolution of the Board of Directors (the
"CERTIFIED RESOLUTION") stating that the
Company or any of its Subsidiaries is
engaged in confidential negotiations or
other confidential business activities
(or the Board of Directors determines that
the Company is at such time otherwise
in possession of material non-public
information with respect to the Company or
any of its Subsidiaries), disclosure of
which would be required in such
registration statement, and the Board of
Directors determines in good faith that
such disclosure would be materially
detrimental to the Company and its
stockholders other than the Holders. A
deferral of the filing of a registration
statement pursuant to this Section 2.03
shall be lifted, and the registration
statement shall be filed forthwith, if the
negotiations or other activities are
terminated or publicly disclosed (or such
material non-public information has
been publicly disclosed by the Company). In
order to defer the filing of a
registration statement pursuant to this
Section 2.03, the Company shall promptly
(but in any event within ten (10) days),
upon determining to seek such deferral,
deliver to the Holders (subject to
7
<PAGE>
the Holders entering into a customary
confidentiality obligation as to such
information, which the Holders hereby agree
to do) the Certified Resolution
stating that the Company is deferring such
filing pursuant to this Section 2.03
and an approximation of the anticipated
delay. Notwithstanding anything to the
contrary contained herein, the Company may
not postpone a filing under this
Section 2.03 more than once in any 180 day
period.
Section 2.04.
Piggyback Registration. In the event that the Company
proposes to register any of its Common
Stock, any other of its equity securities
or securities convertible into or
exchangeable for its equity securities
(collectively, including Common Stock,
"OTHER SECURITIES") under the 1933 Act,
whether or not for sale for its own
account, in a manner that would permit
registration of Registrable Securities for
sale for cash to the public under the
1933 Act, it shall so long as Holders own
Registrable Securities, give prompt
written notice to each Holder of its
intention to do so and of the rights of
such Holder under this Section 2.04.
Subject to the terms and conditions hereof,
such notice shall offer each such Holder
the opportunity to include in such
registration statement such number of
Registrable Securities as such Holder may
request. Upon the written request of any
such Holder made within ten (10) days
after the receipt of the Company's notice
(which request shall specify the
number of Registrable Securities intended
to be disposed of and the intended
method of disposition thereof), the Company
shall use its reasonable best
efforts to effect, in connection with the
registration of the Other Securities,
the registration under the 1933 Act of all
Registrable Securities which the
Company has been so requested to register,
to the extent required to permit the
disposition (in accordance with such
intended methods thereof) of the
Registrable Securities so requested to be
registered. Notwithstanding the
immediately preceding sentence, in the
event that the holders of the Other
Securities intend to distribute the Other
Securities covered by such
registration by means of an underwriting,
the right of any Holder to include all
or any portion of its Registrable
Securities in such registration shall be
conditioned upon such Holder's
participation in such underwriting and the
inclusion of such Holder's Registrable
Securities in the underwriting to the
extent provided herein. All Holders
proposing to distribute all or any portion
of their Registrable Securities through
such underwriting shall enter into an
underwriting agreement in customary form
(for secondary sales by selling
stockholders) with the underwriter or
underwriters.
(b) If, at any
time after giving a written notice of its intention to
register any Other Securities and prior to
the effective date of the
registration statement filed in connection
with such registration, the Company
shall determine for any reason not to
register the Other Securities, the Company
may, at its election, give written notice
of such determination to such Holders
and thereupon the Company shall be relieved
of its obligation to register such
Registrable Securities in connection with
the registration of such Other
Securities, without prejudice, however, to
the rights of the Holders immediately
to request that such registration be
effected as a registration under Section
2.02 to the extent permitted
thereunder.
8
<PAGE>
(c) If the
registration referred to in the first sentence of Section
2.04(a) is to be an underwritten
registration and a nationally recognized
investment banking firm selected by the
Company advises the Company in writing
that, in such firm's good faith view, the
inclusion of all or a part of such
Registrable Securities in such registration
would be likely to have an adverse
effect upon the price, timing or
distribution of the offering and sale of the
Other Securities then contemplated, the
Company shall include in such
registration:
(i) first, all Other Securities the Company proposes to sell for
its
own account,
(ii) second, any securities of the Company to be registered
pursuant
to "demand"
registration rights existing as of the date hereof, and
(iii) third, up to the full number of Registrable Securities held
by
Holders of
Registrable Securities in excess of the number of Other
Securities to be
sold in such offering which, in the good faith view of
such investment
banking firm, can be so sold without so adversely affecting
such offering in
the manner described above.
(d) The Company
shall not be required to effect any registration of
Registrable Securities under this Section
2.04 incidental to the registration of
any of its securities in connection with
mergers, acquisitions, exchange offers,
subscription offers, dividend reinvestment
plans or stock option or other
executive or employee benefit or
compensation plans or in connection with the
filing of a Form S-4 or Form S-8
registration statement.
(e) No
registration of Registrable Securities effected under this
Section
2.04 shall relieve the Company of its
obligation to effect a registration of
Registrable Securities pursuant to Section
2.01 or 2.02.
Section 2.05.
Expenses. Except as provided herein, the Company shall pay
all Registration Expenses under this
Article 2 with respect to a particular
offering (or proposed offering). Each
Selling Holder shall bear the fees and
expenses of its own counsel as well as all
underwriting discounts and
commissions, brokerage fees and taxes,
except that reasonable fees and expenses
(up to a maximum of Thirty Thousand Dollars
($30,000) in the aggregate for all
registrations contemplated by this
Agreement) of one counsel representing all
Selling Holders selected by the Selling
Holders holding a majority of the
Registrable Securities included in the
relevant registration statement, as
applicable, will constitute Registration
Expenses.
Section 2.06.
Registration and Qualification. If the Company is required to
effect the registration of any Registrable
Securities under the 1933 Act as
provided in Section 2.01, 2.02 or 2.04, the
Company shall as promptly as
practicable, but subject to the other
provisions of this Agreement:
9
<PAGE>
(a) prepare,
file and use its reasonable best efforts to cause to become
effective a registration statement under
the 1933 Act relating to the
Registrable Securities to be offered in
accordance with the intended method of
disposition thereof;
(b) prepare and
file with the SEC such amendments and supplements to such
registration statement and the prospectus
used in connection therewith as may be
necessary to keep such registration
statement continuously effective and to
comply with the provisions of the 1933 Act
with respect to the disposition of
all such Registrable Securities until such
time as all of such Registrable
Securities have been disposed of in
accordance with the intended methods of
disposition set forth in such registration
statement; provided that the Company
will, at least five (5) Business Days prior
to filing a registration statement
or prospectus or any amendment or
supplement thereto, furnish to each Selling
Holder copies of such registration
statement or prospectus (or amendment or
supplement) as proposed to be filed
(including, upon the request of such Holder,
documents to be incorporated by reference
therein) which documents will be
subject to the reasonable review and
comments of such Holder (and its attorneys)
during such 5 business-day period and the
Company will not file any registration
statement, any prospectus or any amendment
or supplement thereto (or any such
documents incorporated by reference)
containing any statements with respect to
such Holder to which such Holder shall
reasonably object in writing; it being
agreed that there is no need to pre-deliver
or give a right to review of any
1934 Act filing that is fully incorporated
by reference;
(c) furnish to
the Selling Holders and to any underwriter of such
Registrable Securities such number of
conformed copies of such registration
statement and of each such amendment and
supplement thereto (in each case
including all exhibits), such number of
copies of the prospectus included in
such registration statement (including each
preliminary prospectus and any
summary prospectus), in conformity with the
requirements of the 1933 Act, such
documents incorporated by reference in such
registration statement or
prospectus, and such other documents as the
Selling Holders or such underwriter
may reasonably request, and, upon the
request of the Selling Holders or such
underwriter, a copy of any and all
transmittal letters or other correspondence
to or received from, the SEC or any other
governmental agency or self-regulatory
body or other body having jurisdiction
(including any domestic or foreign
securities exchange) relating to such
offering;
(d) after the
filing of the registration statement, promptly notify each
Selling Holder in writing of the
effectiveness thereof and of any stop order
issued or, to the knowledge of the Company,
threatened by the SEC and use its
reasonable best efforts to prevent the
entry of such stop order or to promptly
remove it if entered and promptly notify
each Selling Holder of such lifting or
withdrawal of such order;
10
<PAGE>
(e) use its
reasonable best efforts to register or qualify all Registrable
Securities covered by such registration
statement under the securities or blue
sky laws of such U.S. jurisdictions as may
be necessary and as the Selling
Holders or any underwriter of such
Registrable Securities shall reasonably
request, and use its reaso