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Title: |
Distribution Agreement |
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Entities: |
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Date: |
2000 |
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Preview shows 10KB of 63KB total |
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Price: |
$46 |
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ID: |
#252100 |
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DISTRIBUTION AGREEMENT
dated as of
, 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...................................................... 1
Section 1.01. Definitions................................................ 1
ARTICLE II THE DISTRIBUTION................................................ 4
Section 2.01. The Distribution........................................... 4
Section 2.02. Securities Filings......................................... 4
ARTICLE III CROSS INDEMNIFICATION.......................................... 4
Section 3.01. Indemnification by New Fluor............................... 4
Section 3.02. Indemnification by Massey.................................. 5
Section 3.03. Overriding Provisions...................................... 5
ARTICLE IV INDEMNIFICATION PROCEDURES...................................... 6
Section 4.01. Notice and Payment of Claims............................... 6
Section 4.02. Defense of Third-Party Claims.............................. 6
Section 4.03. Dispute Resolution......................................... 6
ARTICLE V OTHER AGREEMENTS................................................. 7
Section 5.01. Asset Transfers............................................ 7
Section 5.02. Further Assurances and Consents............................ 7
Section 5.03. No Representation or Warranty.............................. 7
Section 5.04. Registration and Listing................................... 7
Section 5.05. Conduct of Businesses Pending Distribution................. 8
Section 5.06. Intercompany Accounts...................................... 8
Section 5.07. Intellectual Property...................................... 8
Section 5.08. Insurance.................................................. 8
Section 5.09. Retained Liabilities....................................... 9
Section 5.10. Composition of Boards...................................... 9
Section 5.11. Capital Structure.......................................... 9
ARTICLE VI INFORMATION AND SERVICES........................................ 9
Section 6.01. Provision of Corporate Records............................. 9
Section 6.02. Access to Information...................................... 9
Section 6.03. Production of Witnesses.................................... 9
Section 6.04. Reimbursement.............................................. 10
Section 6.05. Retention of Records....................................... 10
Section 6.06. Confidentiality............................................ 10
Section 6.07. Information and Services Relating to Taxes................. 10
ARTICLE VII EMPLOYEE BENEFITS.............................................. 10
Section 7.01. Fluor Employee Benefit Plans............................... 10
Section 7.02. Massey Employee Benefit Plans.............................. 10
Section 7.03. Fluor Plans--Change of Sponsorship......................... 10
Section 7.04. Master Trust Changes....................................... 11
Section 7.05. Indemnification by New Fluor............................... 11
Section 7.06. Indemnification by Massey.................................. 11
ARTICLE VIII INTERCOMPANY AGREEMENTS....................................... 12
Section 8.01. Termination................................................ 12
ARTICLE IX TERMINATION; SURVIVAL........................................... 12
Section 9.01. Termination................................................ 12
Section 9.02. Survival................................................... 12
ARTICLE X MISCELLANEOUS.................................................... 12
Section 10.01. Expenses.................................................. 12
Section 10.02. Notices................................................... 13
Section 10.03. Amendment and Waiver...................................... 13
{/TABLE}
i
{PAGE}
{TABLE}
{CAPTION}
Page
----
{S} {C}
Section 10.04. Counterparts.............................................. 13
Section 10.05. Governing Law............................................. 13
Section 10.06. Consent to Jurisdiction................................... 13
Section 10.07. Entire Agreement.......................................... 14
Section 10.08. Parties in Interest....................................... 14
Section 10.09. Attorneys' Fees........................................... 14
{/TABLE}
{TABLE}
{S} {C}
SCHEDULE 1 NEW FLUOR GROUP
SCHEDULE 2 OLD FLUOR/MASSEY GROUP
{/TABLE}
ii
{PAGE}
DISTRIBUTION AGREEMENT
DISTRIBUTION AGREEMENT (the "Agreement") dated as of , 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, but excluding DRIH Corporation, 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 interests 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 ("Parent Common Stock") all of the outstanding shares of common stock
of New Fluor ("New Fluor Common Stock") as set forth herein;
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
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
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