CONFIDENTIAL INFORMATION, STANDSTILL AND NONDISCLOSURE AGREEMENT
May 25, 2007
Page 1
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EXHIBIT 7
May 25, 2007
VIA ELECTRONIC MAIL
Highland Capital Management, L.P.
13455 Xxxx Road, Suite 0000
Xxx Xxxxxxxx Xxxxx
Xxxxxx, XX 00000
Attn: Xx. Xxxxxxx X. Xxxxxxxxx
13455 Xxxx Road, Suite 0000
Xxx Xxxxxxxx Xxxxx
Xxxxxx, XX 00000
Attn: Xx. Xxxxxxx X. Xxxxxxxxx
Dear Sir or Madam:
CONFIDENTIAL INFORMATION, STANDSTILL
AND NONDISCLOSURE AGREEMENT
AND NONDISCLOSURE AGREEMENT
This letter agreement relates to discussions involving Highland Capital Management, L.P. and
its affiliates (“Investor” collectively or individually as appropriate, “you” or “your”), involving
Delphi Corporation (“Delphi’s, a debtor and debtor-in-possession in chapter 11 cases (the “Chapter
11 Cases”) in the United States Bankruptcy Court for the Southern District of New York (the
“Bankruptcy Court”) concerning possible negotiated business arrangements among you, Pardus European
Special Opportunities Master Fund L.P. and its affiliates (“Pardus”) and the Company (defined
below)in our mutual interest involving the Company in the Chapter 11 Cases in which Pardus would be
the lead investor (such business arrangement, the “Transaction”). It is hereby understood that,
unless otherwise determined by the Company, you will only contact the Company through Pardus in
connection with matters set forth in this letter agreement. In connection with your and Pardus’
interest in and review of certain matters relating to Delphi and its subsidiaries and affiliates
(together with their respective officers, directors, employees, agents, affiliates and other
representatives, the “Company”), the Company may furnish to you directly or indirectly through
Pardus, you or your respective Representatives (as defined below) certain non-public, confidential
and/or proprietary information pertaining to the Company which is reasonably necessary in order for
you to evaluate a Transaction and which the Company reasonably determines is not competitively
sensitive or legally privileged. Such information, in whole or in part, whether written or oral,
together with any analyses, summaries, compilations, studies, forecasts, abstracts or documents
prepared during the review of the Company by Pardus, you or your respective Representatives (as
defined below) which contain, are based upon or otherwise reflect such information, is hereinafter
referred to as the “Evaluation Material.” The term “Evaluation Material” does not include any
information which you demonstrate: (a) previously was available to you on a non-confidential basis
or by virtue of your
becoming a member, if ever, of an official committee in the Chapter 11 Cases (provided,
however, that any information made available to any of you in your capacity as a member of a
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May 25, 2007
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statutory committee shall be kept confidential as may be required pursuant to agreements between
such statutory committee and the Company and any applicable duties and obligations you may have as
a member of such committee); (b) was obtained from a third person which, insofar as you know,
following reasonable inquiry, is not subject to any prohibition against disclosure; or (c) is or
becomes generally available to the public other than as a result of disclosure by you or any of
your Representatives in violation of this letter agreement.
You will use the Evaluation Material solely for the purpose of: (1) considering the
Transaction, and (2) to the extent such Transaction is acceptable to the Company, implementation of
such Transaction, and you will not use the Evaluation Material for any other business or
competitive purpose. Except as required by law, rule or regulation, without the prior written
consent of the Company, you will keep the Evaluation Material strictly confidential and will not
disclose the Evaluation Material to any person or entity (including any person or entity acting in
their capacity as a member of the official or unofficial committee in the Chapter 11 Cases), except
that you may disclose the Evaluation Material or portions thereof to (a) those of your directors,
officers, partners, employees, agents, financial institutions, attorneys, advisors and accountants
(collectively, “Representatives”) who need to know such information for the purpose of evaluating
on your behalf a Transaction and who also execute an acknowledgment wherein they agree to be bound
by the confidentiality provisions of this letter agreement as if they were parties hereto, (b)
Pardus and (c) any Co-Investor (as such term is defined in the letter agreement dated as of April
24, 2007 between the Company and Pardus, which is attached hereto as Exhibit B without the exhibits
thereto (the “Pardus NDA”)) (each such person or entity, a “Co-Investor”), provided, however, with
respect to substantive matters regarding the Transaction only (i) in the presence of Pardus or (ii)
so long as Pardus is informed on a reasonably prompt basis. Without the prior written consent of
the Company, neither you nor your Representatives will disclose to any person or entity (including
any official or unofficial committee in the Chapter 11 Cases) the existence of this letter
agreement, the fact that the Evaluation Material has been made available or that discussions
between you, Pardus and/or the Company concerning a Transaction are taking place or any term,
condition or other fact relating to such business arrangement (except as required by law, rule or
regulation and subject to any applicable fiduciary duties as a committee member)., provided,
however, that you may disclose to Pardus and, only so long as Pardus is informed on a reasonably
prompt basis, any Co-Investor, (1) on a confidential basis, any term, condition or other facts
relating to such business arrangement that does not include Evaluation Material and (2) the
existence of this letter agreement. You will be responsible for any breach of this letter agreement
by you or any of your Representatives. Prior to the Release Date (as such term is defined in the
Pardus NDA and as such term may be amended and supplemented from time to time) (the “Pardus Release
Date”), unless otherwise agreed to by the Company in writing, you agree, in your individual
capacity and not as a committee member, if ever applicable, to engage (along with your
Representatives) in discussions and negotiate exclusively through Pardus with the Company and its
legal and financial advisors with respect to a Transaction.
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May 25, 2007
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Unless otherwise agreed to by the Company, you agree that Pardus shall coordinate and handle
all requests and inquiries to the Company from you and your Representatives, including
requests and inquiries regarding the Transaction and the Evaluation Material. In particular,
you acknowledge that if you have any request or inquiry that has previously been made to the
Company by Pardus or any of Pardus’ Representatives (as such term is defined in the Pardus NDA)
(the “Pardus Representatives,” it being agreed that references herein to “respective
Representatives” shall be deemed to be references to your Representatives and the Pardus
Representatives), and which the Company has addressed with Pardus or the Pardus Representatives,
Pardus or the Pardus Representatives shall address such request or inquiry without the Company’s
involvement.
The Company may designate any Evaluation Material in its sole discretion as “Highly
Confidential” (the “Highly Confidential Information”). Evaluation Material shall be designated as
“Highly Confidential” (a) by placing or affixing the words “Highly Confidential” on each such
Evaluation Material, (b) by written notice to you or Pardus or (c) by virtue of the fact that any
such Evaluation Material is otherwise already labeled as “Highly Confidential.” Inadvertent failure
to designate materials as “Highly Confidential” at the time of delivery may be remedied at any time
thereafter by supplemental written notice (which may be by e-mail) delivered within seven days
after the delivery of such materials. Upon such notice, the identified Evaluation Material shall be
fully subject to this letter agreement as if such materials had been initially designated as
“Highly Confidential.” Unless otherwise agreed to by the Company in writing, Evaluation Material
designated as “Highly Confidential” pursuant to this letter agreement, shall only be disseminated
to and inspected by (a) the Designated Advisors (as defined in the Pardus NDA) and (b) your legal
counsel, your financial advisors or your other advisors each as set forth on Exhibit A hereto which
exhibit may be supplemented by mutual agreement of the parties (collectively, the advisors in
clauses (a) and (b), the “Permitted Advisors”), and the Permitted Advisors or any other person who
receives any Highly Confidential Information shall not reveal or discuss such information, or any
information derived therefrom, to or with any person other than a Permitted Advisor. Highly
Confidential Information, or any information derived therefrom, shall be used by the Permitted
Advisors solely for the purposes set forth in the first full paragraph on page 2 of this letter
agreement.
All written Evaluation Material shall be transmitted by the Company only to Designated
Advisors, provided, however, that if written Evaluation Material is transmitted to you such
materials shall continue to be deemed to be Evaluation Material.
You hereby represent that you have, and will have at all times after the execution of this
letter agreement and prior to the Pardus Release Date, a “Net Long Position” (as defined below)
with respect to the Company. At the Company’s request you agree promptly to provide the Company
with reasonable information which supports the initial representation in the prior sentence and
your continued compliance with the prior sentence and the next sentence. In addition, subject to
the second paragraph following this paragraph prior to the Pardus Release Date, you will not sell,
dispose of or otherwise transfer any equity or debt securities, equity or
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May 25, 2007
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fixed income related
credit derivatives or other instruments (including put equivalent and call equivalent instruments)
issued by, guaranteed by or relating to the Company. With respect to the Company, a “Net Long
Position” means that, on an aggregate basis with respect to all equity or debt securities, equity
or fixed income related credit derivatives or other instruments (including put equivalent and call
equivalent instruments) issued by, guaranteed by or relating to the
Company, your portfolio of such securities, derivatives and other instruments would be
reasonably likely to gain in value if an event occurred which would be reasonably likely to cause
the credit quality of the Company to improve.
In addition, you hereby represent that you do not have, and will not have at any time after
the execution of this letter agreement and prior to the Pardus Release Date, a Net Short Position
(as defined below) with respect to General Motors Corporation (“GM”). At the Company’s request you
agree promptly to provide the Company with reasonable information on a confidential basis which
supports your continued compliance with the prior sentence and the next sentence. In addition,
prior to the Pardus Release Date, you will not sell, dispose of or otherwise transfer any equity or
debt securities, equity or fixed income related, credit derivatives or other instruments (including
put equivalent and call equivalent instruments) issued by, guaranteed by or relating to GM, other
than to GM or in connection with a public tender offer for any such securities. A “Net Short
Position” with respect to GM means that, on an aggregate basis with respect to all equity or debt
securities, equity or fixed income related credit derivatives or other instruments (including put
equivalent and call equivalent instruments) issued by, guaranteed by or relating to GM, your
portfolio of such securities, derivatives and other instruments would be reasonably likely to gain
in value if an event occurred which would be reasonably likely to cause the credit quality of GM to
decline.
In addition, you hereby represent that you are not acting on behalf of any investment
partnership, or similar investment fund or other investment vehicle for which Investor serves as
investment manager or investment advisor that is registered pursuant to the Investment Company Act
of 1940, as amended (an “Investor Registered Fund”), and that you will not share any Evaluation
Material with any Investor Registered Fund (or any person acting on such Investor Registered Fund’s
behalf). You also hereby represent that you maintain and will continue to maintain after the
execution of this letter agreement, policies and procedures reasonably designed to prevent access
to and use of Evaluation Material by any Investor Registered Fund (or any person acting on such
Investor Registered Fund’s behalf). It is therefore understood and agreed that no Investor
Registered Fund is bound by the terms hereof.
Notwithstanding the foregoing, nothing in this letter agreement shall prohibit the Investor
from participating in a rights offering or transferring or exercising rights in connection
therewith in accordance with applicable law. Notwithstanding anything in this letter agreement to
the contrary, nothing in this letter agreement shall be deemed to restrict in any way any transfer,
exchange or receipt of any securities or other instruments to or from the Company or in accordance
with the consummation of any Plan or Transaction. In the event the EPCA is terminated, this
paragraph shall automatically be modified to add the following sentence:
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“Notwithstanding anything
in this agreement to the contrary, nothing in this agreement shall be deemed to restrict any
transfer or delivery of any debt or equity securities of the Company in connection with a public
tender offer for such securities.”
In the event that you or any of your Representatives are legally required (by deposition,
interrogatories, requests for documents, subpoena, civil investigation demand or similar process)
to disclose any of the Evaluation Material, or if you or any of your Representatives are legally
required (by deposition, interrogatories, requests for documents, subpoena, civil investigation
demand or similar process) to disclose the fact that the Evaluation Material has been made
available or that discussions between you, Pardus, the Co-Investors (if applicable) and the Company
are taking place or any other fact relating to a Transaction, you will provide to the extent
practicable, the Company with prompt prior written notice of such requirement so that the Company
may, at its sole cost, (a) seek a protective order or other appropriate remedy or (b) in its sole
discretion, waive compliance with the terms of this letter agreement. If a protective order or
other remedy is not obtained within a reasonable period of time, or the Company waives compliance
with the terms of this letter agreement, you or your Representatives, as applicable, will disclose
only that which you or your Representatives are legally required to disclose or which is necessary
to avoid sanction for contempt of court and you or your Representatives, as applicable, will
exercise commercially reasonable efforts (which efforts will consist of at least the efforts you
undertake in connection with ensuring the confidential treatment of your non-public, confidential
and/or proprietary information), at the Company’s cost, to ensure confidential treatment of (x) the
Evaluation Material, (y) the fact that the Evaluation Material has been made available or that
discussions between you, Pardus, the Co-Investors (if applicable) and the Company are taking place,
and (z) any other fact you are prohibited from disclosing pursuant to this letter agreement.
You agree that if you determine that you do not intend to proceed with a Transaction you shall
promptly (but in no event later than 24 hours after such a determination is made) notify the
Company in writing of such determination (the “Investor Notice”).
If (i) Pardus does not proceed with a Transaction, (ii) Pardus delivers a Pardus Notice (as
such term is defined in the Pardus NDA) which the Company subsequently provides to you, (iii) you
do not proceed with a Transaction, or (iv) you deliver an Investor Notice, if the Company so
requests, you will promptly return to the Company all copies (including originals) of the
Evaluation Material in your possession or .in the possession of your Representatives, and you will
promptly destroy all Evaluation Material which constitutes copies (including originals) of any
analyses, studies, abstracts or other documents prepared by you or your Representatives or for your
or your Representatives’ use, and any such destruction shall be certified in writing to us by a
duly authorized Representative of yours; provided, however, that you may maintain copies of any
Evaluation Material in order to comply with any of your document retention policies that are
mandated by law, rule or regulation. Notwithstanding the return or destruction of Evaluation
Material, you and your Representatives will continue to be bound by your obligations of
confidentiality hereunder for the period commencing on the date hereof through the first
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anniversary of the date of the consummation of a plan of reorganization in the Chapter 11 Cases (a
“Plan of Reorganization”).
You understand and agree that except as set forth in written definitive agreements in
connection with a Transaction, neither the Company, nor Pardus has made or is making any
representation or warranty, express or implied, as to the accuracy or completeness of the
Evaluation Material, and neither the Company, Pardus nor any of their respective affiliates or any
of their respective officers, directors, employees, agents, affiliates, attorneys, advisors or
accountants have any liability to you or any other person or entity relating to or resulting from
the use of the Evaluation Material or any errors therein or omissions therefrom.
Notwithstanding anything contained herein, if you ever become a member of an official
committee in the Chapter 11 Cases you shall voluntarily recuse yourself with respect to all issues
and matters that are considered or discussed by an official committee in the Chapter 11 Cases that
is related to (i) Pardus, you or any Co-Investor, (ii) any proposal made by Pardus, you or any
Co-Investor (either collectively or individually) to or with respect to the Company or (iii) any
other related matters.
For the period commencing on the date hereof through the Pardus Release Date (unless the
Company is determined by a final order of the Bankruptcy Court to have failed to perform in all
material respects all of its obligations hereunder), you will not seek, and will cause each of your
affiliates not to, directly or indirectly, knowingly seek, or solicit or induce, or attempt to
solicit or induce a third party to seek, or support a third party that may seek or is seeking to
shorten or terminate the Company’s exclusive periods (the “Exclusive Periods”) to propose and/or
solicit a Plan of Reorganization; provided, however, that if you become a member of an official
committee in the Chapter 11 Cases, then in your capacity as a member of such committee you may
participate in committee discussions, committee meetings and committee votes with respect to the
foregoing matters consistent with your fiduciary duties as a member of such committee.
Until the later of the Pardus Release Date and the date upon which you are no longer in
possession of material, non-public information about the Company (unless the Company is determined
by a final order of the Bankruptcy Court to have failed to perform in all material respects all of
its obligations hereunder), without the prior written consent of the Company, you will not, and
will cause each of your affiliates and Representatives (in their capacity as such) not to, singly
or as part of a group, in any manner, directly or indirectly: (i) participate in any solicitation
of proxies or become a participant in any election contest with respect to the Company; (ii) form,
join or in any way participate in a “group” (within the meaning of Section 13(d)(3) of the
Securities Exchange Act of 1934, as amended) with respect to Delphi’s common stock other than in
connection with a Transaction; provided, however, that this clause (ii) shall not prohibit you from
forming, joining or in any way participating in a “group” (if one is deemed to exist) that solely
consists of you and your affiliates as described in the Schedule 13D filed by you and your
affiliates and dated December 22, 2006, as subsequently amended prior to the date
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hereof, to the
extent that such “group” (if one is deemed to exist) would not violate that certain trading order
issued by the Bankruptcy Court; and (iii) sell, dispose of or otherwise transfer any equity
securities of the Company (“Equity Securities”), any debt securities of the Company (“Debt
Securities”), or assets of or claims against the Company, or any rights to acquire any Equity
Securities, Debt Securities, or assets of or claims against the Company.
Notwithstanding the foregoing, nothing in this letter agreement shall prohibit the Investor
from participating in a rights offering or transferring or exercising rights in connection
therewith in accordance with applicable law.
You agree that money damages would not be a sufficient remedy for any breach of this letter
agreement by you or your Representatives and that, in addition to all other remedies, the Company
will be entitled to equitable relief, including specific performance and injunctive or other
equitable relief, in the event of any breach or threatened breach of any provision of this
letter agreement. In the event of litigation relating to this letter agreement, each party
shall pay its own expenses.
You acknowledge and agree that the Company is free to terminate discussions and negotiations
with you and/or Pardus at any time after the Pardus Release Date and for any reason (provided,
however, that the Company will not be limited in any way by the terms of this letter agreement in
allocating, prioritizing and directing its resources and personnel, including its employees, agents
and representatives, to discussions and negotiations with other parties in connection with the
Chapter 11 Cases or other matter) and unless and until a written definitive agreement concerning a
Transaction has been executed and approved by the Bankruptcy Court, neither the Company nor any of
our affiliates or any of our or their respective officers, directors, employees, agents,
affiliates, attorneys, advisors or accountants will have any liability to you with respect to any
business arrangement, whether by virtue of this letter agreement, any other written or oral
expression with respect to any Transaction or otherwise.
Subject to the second to last sentence of this paragraph, you acknowledge that, upon the
Company’s request, Pardus has agreed in the Pardus NDA to inform and update the Company in
reasonable detail on the status and substance of your discussions with Pardus or Co-Investors which
relates to (i) any conditions or any material impediments to consummating the Transaction, (ii) the
material terms of governance arrangements of the Company after consummation of the Transaction and
(iii) any other matters relating to the Transaction that reasonably would be expected to be
material to the Company (the items set forth in clauses (i) through (iii) hereof, the “Disclosable
Items”). Subject to the second to last sentence of this paragraph, you hereby represent that you
have not entered into any material written agreement with Pardus or any Co-Investor with respect to
Disclosable Items, and any such written agreement hereafter entered into between you and either
Pardus or a Co-Investor will be disclosed promptly to Pardus (so that Pardus can make such
disclosure to the Company as required by the Pardus NDA). Subject to the second to last sentence of
this paragraph, when you become aware that a person or entity is deemed to be a Co-Investor
pursuant to the terms hereof,
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you will promptly disclose to Pardus (so that Pardus can make such
disclosure to the Company as required by the Pardus NDA) (i) any such material written agreement
with respect to Disclosable Items entered into between you and any such Co-Investor and (ii) any
material written agreement, to your knowledge, to which any such Co-Investor is a party with
respect to Disclosable Items. Notwithstanding anything to the contrary contained in this paragraph
and subject to applicable law, the Company and you acknowledge that neither you nor Pardus shall be
required to inform and update the Company, or disclose the terms of any written agreement involving
you and Pardus or you and any Co-Investor, with respect to: (i) any improved or enhanced economic
terms that Pardus, you and any Co-Investor may make (including subject to any conditions) in
connection with the Transaction, (ii) any bidding strategy (including bidding reserves) in
connection with the Transaction and (iii) any other related strategic matters with respect to the
Transaction. The parties agree that this paragraph is the paragraph that is referred to as the
“comparable paragraph” in the Pardus NDA.
You acknowledge that Pardus, you and your respective Representatives may receive material
non-public information in connection with your evaluation of any Transaction and you
are aware that the United States securities laws impose restrictions on trading in securities
when in possession of such information.
The Company understands that you would prefer not to be in possession of material non-public
information at the time a Plan of Reorganization becomes effective. In this regard, the Company
will use commercially reasonable efforts to avoid providing you with information that the Company
expects is likely to be material non-public information as of the effective date of such a Plan of
Reorganization (the “Information Deadline”) and you shall follow appropriate procedures to screen
information the Company provides to you to avoid being in possession or having knowledge of
material, non-public information as of the Information Deadline. If, however, you believe that you
are in possession of material non-public information as of the Information Deadline, you may
request that Pardus request the Company to make appropriate public disclosure such that the
information would no longer be non-public, and the Company will make such public disclosure if the
Company reasonably determines that such public disclosure would be in the best interests of the
Company and its constituents. Notwithstanding anything herein to the contrary, in the event (1) the
Company agrees to modify the Information Deadline (or comparable term or provision) in a
confidentiality agreement among the Company, Appaloosa Management L.P. and Harbinger Capital
Partners Master Fund I, Ltd., to a date that is earlier than the date a Plan of Reorganization is
declared effective (an “Earlier Information Deadline”), the Company shall notify you, in writing,
and the Information Deadline set forth in this letter agreement shall automatically be modified to
be the date of the Earlier Information Deadline or (2) the EPCA is terminated, the Information
Deadline set forth herein shall automatically be modified to be the earlier of the (a) date a
disclosure statement is approved by the Bankruptcy Court or (b) the Information Deadline (or
comparable term or provision) set forth in any confidentiality agreement among the Company and any
potential investor including, but not limited to, any party to the EPCA.
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May 25, 2007
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If information subject to a claim of attorney-client privilege, work product doctrine or any
other ground on which production of such information should not be made is nevertheless
inadvertently produced by the Company to Pardus, you or your respective Representatives, such
production shall in no way prejudice or otherwise constitute a waiver of, or estoppel as to, any
claim of privilege, work product or other ground for withholding production to which the Company
would otherwise be entitled. If a claim of inadvertent production is made pursuant to this
paragraph with respect to information then in the custody of Pardus, you or your respective
Representatives, then Pardus, you or your respective Representatives, as the case may be, shall,
upon request, promptly return to the Company that material (including all copies thereof) as to
which the claim of inadvertent production has been made, and Pardus, you and your respective
Representatives shall not further use such information for any purpose.
This letter agreement is solely for the benefit of the Company and its respective successors
and assigns. The rights of the Company under this letter agreement may be assigned in whole or in
part to any purchaser of the Company or any substantial part thereof, which purchaser shall be
entitled to enforce this letter agreement to the same extent and in the same manner as the Company
is entitled to enforce this letter agreement.
No failure or delay by the Company in the exercise of any right, power or privilege hereunder
will operate as a waiver thereof. This letter agreement can only be modified or waived in writing.
Notices required or permitted by this letter agreement shall be given by certified mail,
return receipt requested, overnight courier service or facsimile to the following notice addresses:
A. For the Company:
Xxxxx X. Xxxxxxx, Esq.
Vice President, General Counsel
and Chief Compliance Officer
Delphi Corporation
0000 Xxxxxx Xxxxx
Xxxx, Xxxxxxxx 00000-0000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Vice President, General Counsel
and Chief Compliance Officer
Delphi Corporation
0000 Xxxxxx Xxxxx
Xxxx, Xxxxxxxx 00000-0000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
with a copy to:
Xxxx Xx. Xxxxxx, Jr., Esq.
Skadden, Arps, Slate,
Xxxxxxx & Xxxx LLP
000 Xxxx Xxxxxx Xxxxx
Xxxxx 0000
Xxxxxxx, XX 00000-0000
Skadden, Arps, Slate,
Xxxxxxx & Xxxx LLP
000 Xxxx Xxxxxx Xxxxx
Xxxxx 0000
Xxxxxxx, XX 00000-0000
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May 25, 2007
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Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Facsimile: (000) 000-0000
For Investor:
Xxxxxxx X. Xxxxxxxxx
Highland Capital Management, L.P.
00000 Xxxx Xxxx, Xxxxx 000
Xxx Xxxxxxxx Xxxxx
Xxxxxx, XX 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Highland Capital Management, L.P.
00000 Xxxx Xxxx, Xxxxx 000
Xxx Xxxxxxxx Xxxxx
Xxxxxx, XX 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
with a copy to:
Xxxxxx X. Xxxxxxx, Esq.
Xxxxxx and Xxxxx, LLP
0000 XxXxxxxx, Xxxxx 0000
Xxxxxxx, XX 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Xxxxxx and Xxxxx, LLP
0000 XxXxxxxx, Xxxxx 0000
Xxxxxxx, XX 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Xxxxxx X. Xxxxxx, Esq.
Xxxxxx and Xxxxx, LLP
000 Xxxx Xxxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Xxxxxx and Xxxxx, LLP
000 Xxxx Xxxxxx, Xxxxx 0000
Xxxxxx, XX 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Any proceeding relating to this letter agreement shall be brought in the Bankruptcy Court during
the pendency of the Chapter 11 Cases and thereafter in a federal or state court of New York. You
and the Company hereby consent to personal jurisdiction in any such action and to service of
process by mail, and waive, any objection to venue in any such court. This letter shall be governed
by the internal laws of the State of New York and shall inure to the benefit of and be binding upon
the Company and you and our respective affiliates, successors and assigns, including any successor
to the Company or you or substantially all of the Company’s or your assets or business.
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May 25, 2007
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Please acknowledge your acceptance of the terms and conditions stated herein by signing and
returning this letter agreement to the Company.
DELPHI CORPORATION | ||||||
/s/ Xxxx X. Xxxxxxx | ||||||
Name: | Xxxx X. Xxxxxxx | |||||
Title: | VP and Chief Restructuring Officer
|
|||||
ACCEPTED AND AGREED:
HIGHLAND CAPITAL MANAGEMENT, L.P.
By: Strand Advisors, Inc., its General Partner
By: Strand Advisors, Inc., its General Partner
/s/ Xxxxxxx X. Xxxxxxxxx | ||||
Name:
|
Xxxxxxx X. Xxxxxxxxx | |||
Title:
|
Secretary |
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