Common use of ISSUANCE OF SPECIAL PREFERRED STOCK Clause in Contracts

ISSUANCE OF SPECIAL PREFERRED STOCK. Immediately following the Effective Time, pursuant to the applicable collective bargaining agreement which shall be assumed by the B Surviving Entity by operation of law in the B Merger and be binding on the Company (regardless of whether any Drop-Down Condition is satisfied) from and after the Effective Time, as evidenced by instruments of assumption to be delivered to each union party thereto immediately after the Effective Time, the Company shall issue (a) to the Association of Flight Attendants one share of Series D Special Preferred Stock, par value $.01 per share, of the Company, (b) to the International Association of Machinists one share of Series E Special Preferred Stock, par value $.01 per share, of the Company and (c) to the Hawaiian Master Executive Counsel c/o the Air Line Pilots Association one share of Series F Special Preferred Stock, par value $.01 per share, of the Company. The rights of such shares shall be as set forth in the Certificate of Incorporation attached hereto as EXHIBIT C.

ISSUANCE OF SPECIAL PREFERRED STOCK. Immediately following the Effective Time, pursuant to the applicable collective bargaining agreement which shall be assumed by the B Surviving Entity by operation of law in the B Merger and be binding on the Company (regardless of whether any Drop-Down Condition is satisfied) from and after the Effective Time, as evidenced by instruments of assumption to be delivered to each union party thereto immediately after the Effective Time, the Company shall issue (a) to the Association of Flight Attendants one share of Series D Special Preferred Stock, par value $.01 per share, of the Company, (b) to the International Association of Machinists one share of Series E Special Preferred Stock, par value $.01 per share, of the Company and (c) to the Hawaiian Master Executive Counsel c/o the Air Line Pilots Association one share of Series F Special Preferred Stock, par value $.01 per share, of the Company. The rights of such shares shall be as set forth in the Certificate of Incorporation attached hereto as EXHIBIT Exhibit C.