|
|
|
|
Document Preview Distribution Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Distribution Agreement |
|||
|
Entities: |
||||
|
Date: |
2000 |
|||
|
Size: |
Preview shows 14KB of 94KB total |
|||
|
Price: |
$43 |
|||
|
ID: |
#252070 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
DISTRIBUTION AGREEMENT
dated as of
November 30, 2000
between
FLUOR CORPORATION,
a Delaware corporation
incorporated in 2000
and
FLUOR CORPORATION,
a Delaware corporation
incorporated in 1978
(to be renamed Massey Energy Company
on the Distribution Date described herein)
{PAGE}
TABLE OF CONTENTS
-----------------
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I DEFINITIONS.................................................................. 2
----------------------
Section 1.01. Definitions...................................................... 2
ARTICLE II THE DISTRIBUTION............................................................ 6
Section 2.01. The Distribution................................................. 6
Section 2.02. Securities Filings............................................... 7
ARTICLE III CROSS INDEMNIFICATION...................................................... 7
Section 3.01. Indemnification by New Fluor..................................... 7
Section 3.02. Indemnification by Massey........................................ 8
Section 3.03. Overriding Provisions............................................ 9
ARTICLE IV INDEMNIFICATION PROCEDURES.................................................. 9
Section 4.01. Notice and Payment of Claims..................................... 9
Section 4.02. Defense of Third-Party Claims.................................... 10
Section 4.03. Dispute Resolution............................................... 10
ARTICLE V OTHER AGREEMENTS............................................................. 11
Section 5.01. Asset Transfers.................................................. 11
Section 5.02. Further Assurances and Consents.................................. 11
Section 5.03. No Representation or Warranty.................................... 12
Section 5.04. Registration and Listing......................................... 12
Section 5.05. Conduct of Businesses Pending Distribution....................... 13
Section 5.06. Intercompany Accounts............................................ 13
Section 5.07. Intellectual Property............................................ 13
Section 5.08. Insurance........................................................ 13
Section 5.09. Retained Liabilities............................................. 15
{/TABLE}
i
{PAGE}
{TABLE}
{S} {C}
Section 5.10. Composition of Boards............................................ 15
Section 5.11. Capital Structure................................................ 15
Section 5.12. Additional Settlement Matters.................................... 16
--------------------------------------------
Section 5.13. Cooperation with SEC Filings..................................... 17
-------------------------------------------
Section 5.14. Agreement to Close Books......................................... 17
---------------------------------------
ARTICLE VI INFORMATION AND SERVICES.................................................... 17
Section 6.01. Provision of Corporate Records................................... 17
Section 6.02. Access to Information............................................ 17
Section 6.03. Production of Witnesses.......................................... 17
Section 6.04. Reimbursement.................................................... 17
Section 6.05. Retention of Records............................................. 18
Section 6.06. Confidentiality.................................................. 18
Section 6.07. Information and Services Relating to Taxes....................... 18
ARTICLE VII EMPLOYEE BENEFITS.......................................................... 18
Section 7.01. Fluor Employee Benefit Plans..................................... 18
Section 7.02. Massey Employee Benefit Plans.................................... 18
Section 7.03. Fluor Plans - Change of Sponsorship.............................. 19
Section 7.04. Master Trust Changes............................................. 20
Section 7.05. Indemnification by New Fluor..................................... 20
Section 7.06. Indemnification by Massey........................................ 21
ARTICLE VIII INTERCOMPANY AGREEMENTS................................................... 21
Section 8.01. Termination...................................................... 21
ARTICLE IX TERMINATION; SURVIVAL....................................................... 22
Section 9.01. Termination...................................................... 22
Section 9.02. Survival......................................................... 22
{/TABLE}
ii
{PAGE}
{TABLE}
{S} {C}
ARTICLE X MISCELLANEOUS................................................................ 22
Section 10.01. Expenses........................................................ 22
Section 10.02. Notices......................................................... 23
Section 10.03. Amendment and Waiver............................................ 23
Section 10.04. Counterparts.................................................... 24
Section 10.05. Governing Law................................................... 24
Section 10.06. Consent to Jurisdiction......................................... 24
Section 10.07. Entire Agreement................................................ 24
Section 10.08. Parties in Interest............................................. 24
Section 10.09. Attorneys' Fees................................................. 24
{/TABLE}
SCHEDULE 1 NEW FLUOR GROUP
SCHEDULE 2 OLD FLUOR/MASSEY GROUP
iii
{PAGE}
DISTRIBUTION AGREEMENT
DISTRIBUTION AGREEMENT (the "Agreement") dated as of November 30,
2000 between Fluor Corporation, a Delaware corporation, which shall be renamed
Massey Energy Company in connection with the transactions contemplated herein
(together with its successors and permitted assigns, "Parent"), and Fluor
Corporation, a Delaware corporation (together with its successors and permitted
assigns, "New Fluor").
W I T N E S S E T H
- - - - - - - - - -
WHEREAS, Parent acting through its direct and indirect
subsidiaries currently conducts a number of businesses, including, without
limitation, (i) provision of engineering, procurement and construction services,
outsourcing and asset management solutions and business administration and
support services (together with all other businesses now or formerly conducted
by Parent and any of its subsidiaries, but excluding the Massey Business as
defined below, the "Fluor Business") and (ii) mining, processing, brokering and
selling coal (together with all other businesses now or formerly conducted by
A.T. Massey Coal Company, Inc. or any of its subsidiaries, including, without
limitation, Appalachian Synfuel, LLC, the "Massey Business");
WHEREAS, the Board of Directors of Parent has determined that it
is in the best interest of Parent's shareholders, as well as of Parent and its
businesses, to reorganize Parent by separating from Parent all businesses
currently conducted by Parent other than the Massey Business and to cause such
businesses to be owned and conducted, directly or indirectly, by New Fluor;
WHEREAS, in order to effect such separation, the Board of
Directors of Parent has determined that it is appropriate, desirable and in the
best interest of Parent's shareholders, as well as of Parent and its businesses,
for Parent (i) to take certain steps to reorganize Parent's subsidiaries and
businesses and (ii) to distribute to the holders of Parent's common stock, par
value $0.625 per share, all of the outstanding shares of common stock of New
Fluor as set forth herein in what the parties intend to be a tax-free
distribution pursuant to Section 355 of the Internal Revenue Code;
WHEREAS, each of Parent and New Fluor has determined that it is
necessary and desirable, on or prior to the Distribution Date (as defined
herein), to allocate and transfer those assets and allocate and assign
responsibility for those liabilities in respect of activities of the businesses
of such entities;
WHEREAS, each of Parent and New Fluor has determined that it is
necessary and desirable to set forth the principal corporate transactions
required to effect such distribution and to set forth other agreements that will
govern certain other matters following such distribution; and
{PAGE}
WHEREAS, in connection with such distribution, Parent is
concurrently herewith entering into a Tax Sharing Agreement dated as of the date
hereof with New Fluor.
NOW, THEREFORE, in consideration of the mutual agreements,
provisions and covenants contained in this Agreement, the parties hereby agree
as follows:
ARTICLE I
DEFINITIONS
Section 1.01. Definitions. As used herein, the following terms
-----------
shall have the following meanings:
"Affiliate" means, with respect to any person, another person
directly or indirectly controlling, controlled by or under common control with
such person; provided, however, that for the purposes of this Agreement, no
-------- -------
member of the Massey Group shall be deemed an Affiliate of any member of the New
Fluor Group and vice versa.
"Agent" means ChaseMellon Shareholder Services, LLC, as
distribution agent hereunder.
"Agreement" is defined in the preamble to this Agreement.
"Assets" means all assets of any nature whatsoever that would be
reflected on a balance sheet of Parent as of the Distribution Date prepared in
accordance with generally accepted accounting principles consistently applied
and in accordance with existing management practices including, without
limitation: all cash equivalents; accounts receivable; notes receivable;
contract work in progress (costs and earnings in excess of billings);
inventories; pre-paid taxes (current and non-current); property, plant and
equipment; pension assets; goodwill (excess of cost over net assets of acquired
companies); investments; and other current and non-current assets.
"Cumulative Cash Flow" is defined in Section 5.11 of this
Agreement.
"Distribution" means the distribution contemplated by Section
2.02 of this Agreement.
"Distribution Date" means such date as shall be agreed upon by
Parent and New Fluor on which the Distribution shall occur.
"Distribution Record Date" means the date set by the Board of
Directors of Parent for the determination of holders of record of Parent Common
Stock entitled to participate in the Distribution.
"DRIH Grid Note" means that certain note defined and described in
|
End of Preview |
Home Intelligence Services Subscriptions News About Us