Exhibit 10.2
VOTING AGREEMENT
This Voting
Agreement (“ Agreement ”) is made and entered
into as of July 18, 2007, by and between Ristretto Group
S.a r.l., a Luxembourg company (the “ Parent ”), and the undersigned
stockholder (the “ Stockholder ”) in Williams
Scotsman International, Inc., a Delaware corporation (the “
Company ”).
Certain capitalized terms used in this Agreement are defined in
Section 6 hereof and certain other capitalized terms used in this
Agreement that are not defined herein shall have the meaning given
to such terms in the Merger Agreement (as defined
below).
RECITALS
WHEREAS , the
Stockholder is the holder of record and/or the “beneficial
owner” (within the meaning of Rule 13d-3 under the Securities
Exchange Act of 1934, as amended) of Company Common Stock;
WHEREAS ,
concurrently with the execution and delivery of this Agreement, the
Company, Ristretto Holdings SCA, a Luxembourg company, Parent and
Ristretto Acquisition Corp., a Delaware corporation and a wholly
owned subsidiary of Parent (the “ Merger Sub ”), are entering into
an Agreement and Plan of Merger, dated as of the date hereof (the
“ Merger Agreement
”), which provides, upon the terms and subject to the
conditions set forth therein, for the merger of Merger Sub with and
into the Company (the “ Merger ”); and
WHEREAS , as a
condition and inducement to Parent’s willingness to enter
into the Merger Agreement, the Stockholder has agreed to execute
and deliver this Agreement.
AGREEMENT
NOW, THEREFORE ,
the parties to this Agreement, intending to be legally bound, agree
as follows:
1.
Agreement to Vote Subject Securities . Prior to the
Termination Date, at every meeting of the stockholders of the
Company called with respect to any of the following, and at every
adjournment or postponement thereof, and on every action or
approval by written consent of the stockholders of the Company with
respect to any of the following, the Stockholder shall vote or
cause to be voted the Subject Securities: (a) in favor of (i)
adoption of the Merger Agreement and (ii) any other matter
contemplated under the Merger Agreement or that could reasonably be
expected to facilitate the Merger that is put to a vote of the
stockholders of the Company and (b) against any proposal for
any Company Acquisition Proposal (as defined in the Merger
Agreement) other than the Merger, between the Company and any
person or entity (other than Parent and Merger Sub) and (c) against
any other action or agreement that would result in a breach of any
covenant, representation or warranty or any other obligation or
agreement of the Company under the Merger Agreement or which would
result in any of the conditions to the consummation of the Merger
under the Merger Agreement not being fulfilled or which would
reasonably be expected to prevent, impede, frustrate, interfere
with, delay, postpone or adversely affect the Merger and the other
transactions contemplated by the Merger Agreement.
2.
Irrevocable Proxy . Concurrently with the execution of
this Agreement, the Stockholder agrees to deliver to Parent a proxy
in the form attached hereto as Exhibit A (the “
Proxy ”), which shall
be irrevocable, prior to the Termination Date and to the fullest
extent permitted by law and except as otherwise set forth therein,
with respect to the Subject Securities referred to therein.
3.
Agreement to Retain Subject Securities .
(a)
Restriction on Transfer . During the period from the
date of this Agreement until the earlier to occur of (i) the
obtaining of the Requisite Stockholder Vote (as defined in the
Merger Agreement) and (ii) the Termination Date, the Stockholder
shall not, directly or indirectly, except as contemplated by this
clause (a), cause or permit any Transfer of any of the Subject
Securities to be effected other than pursuant to the Merger.
Notwithstanding the foregoing, the Stockholder may cause or permit
any Transfer of any of the Subject Securities to any of its
Affiliates (as defined in the Merger Agreement), provided that the
effectiveness of any such Transfer shall be conditioned on the
transferee agreeing in writing to be bound by the provisions of
this Agreement in a form reasonably satisfactory to Parent.
(b)
Restriction on Transfer of Voting Rights .
During the period from the date of this Agreement through the
Termination Date, the Stockholder shall ensure that, without
Parent’s prior written consent: (a) none of the Subject
Securities is deposited into a voting trust; and (b) no proxy
(other than the Proxy granted herein) is granted, and no voting
agreement or similar agreement is entered into, with respect to any
of the Subject Securities.
4.
Representations, Warranties and Covenants of the
Stockholder . The Stockholder hereby represents
and warrants to Parent as follows:
(a)
Due Authorization, Etc . All consents, approvals,
authorizations and orders necessary for the execution and delivery
by such Stockholder of this Agreement and the Proxy have been
obtained, and such Stockholder has all legal capacity, full right,
power and authority to enter into this Agreement and the Proxy, and
perform such Stockholder’s obligations hereunder. This
Agreement and the Proxy have been duly executed and delivered by
such Stockholder and constitute valid and binding agreements of
such Stockholder enforceable in accordance with their terms, except
as the same may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar laws now or hereafter in
effect relating to creditors’ rights generally and subject to
general principles of equity.
(b)
No Conflict . The execution and delivery of this
Agreement and the Proxy by such Stockholder does not, and the
performance of and under this Agreement and the Proxy by such
Stockholder will not (i) conflict with or violate any Law
applicable to the Subject Securities held by such Stockholder or
(ii) result in, give rise to or constitute a violation or breach of
or a default (or any event which with notice or lapse of time or
both would become a violation, breach or default) under any of the
terms of any understanding, agreement or other instrument or
obligation to which such Stockholder is a party or by which such
Stockholder or any of the Subject Securities may be bound.
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(c)
Title to Securities . As of the date of this
Agreement: (a) such Stockholder holds of record (free and clear of
any encumbrances or restrictions) the number of outstanding shares
of Company Common Stock set forth under the headings “Shares
of Company Common Stock Held of Record” on the signature page
hereof; (b) such Stockholder Owns the additional securities of the
Company set forth under the heading “Additional Securities
Beneficially Owned” on the signature page hereof; and (c)
such Stockholder and its Affiliates (other than any other
stockholder of the Company entering into a voting agreement with
Parent substantially similar to this Agreement as of the date
hereof) do not directly or indirectly Own any shares of capital
stock or other securities of the Company, or any option, warrant or
other right to acquire (by purchase, conversion or otherwise) any
shares of capital stock or other securities of the Company, other
than the shares and options, warrants and other rights set forth on
the signature page hereof.
(d)
Reliance by Parent . Such Stockholder understands and
acknowledges that Parent is entering into the Merger Agreement in
reliance upon the execution and delivery of this Agreement by such
Stockholder, the performance by such Stockholder of its obligations
hereunder and the compliance by such Stockholder with the terms
hereof.
5.
Additional Covenants of the Stockholder .
(a)
Further Assurances . From time to time and without
additional consideration, the Stockholder shall execute and
deliver, or cause to be executed and delivered, such additional
instruments, and shall take such further actions, as Parent may
reasonably request for the purpose of carrying out and furthering
the intent of this Agreement.
(b)
Appraisal Rights . The Stockholder hereby waives any
rights of appraisal or rights to dissent from the Merger or the
adoption of the Merger Agreement that it may have under applicable
law and shall not permit any such rights of appraisal or rights of
dissent to be exercised with respect to the Subject
Securities.
(c)
No Solicitation . The Stockholder shall not take any
action that the Company is prohibited from taking under Section 6.5
of the Merger Agreement. Notwithstanding the foregoing and
the provisions of Section 6.5 of the Merger Agreement, the
Stockholder shall be expressly entitled to take any action that the
Company or the Board of Directors of the Company is entitled to
take under Section 6.5 the Merger Agreement.
(d)
Board Duties . Notwithstanding the foregoing, nothing
in this Agreement shall limit, restrict or otherwise affect any
actions taken in compliance with the Merger Agreement by any person
affiliated with the Stockholder solely in his or her capacity as a
member of the Board of Directors of the Company or any committee
thereof.
6.
Certain Definitions . For purposes of this
Agreement,
(a)
“ Company Common
Stock ” means the common stock, $.01 par value per
share, of the Company.
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(b)
The Stockholder is deemed to “ Own ” or to have acquired “
Ownership ” of a
security if such Stockholder is the “beneficial owner”
of such security within the meaning of Rule 13d-3 under the
Securities Exchange Act of 1934, as amended.
(c)
“ Subject Securities ” means:
(i
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