AMENDMENT NO. 2
TO
REGIONAL JET SERVICES AGREEMENT
AMENDMENT NO. 2 TO REGIONAL JET SERVICES AGREEMENT (this
"Amendment") dated as of June 2, 1998 by and among MESABA
HOLDINGS, INC., a Minnesota corporation ("Holdings"), MESABA
AVIATION, INC., a Minnesota corporation ("Mesaba"), and Northwest
Airlines, Inc., a Minnesota corporation ("Northwest"). All
capitalized terms used herein and not otherwise defined shall
have the respective meanings provided such terms in the Regional
Jet Services Agreement referred to below.
WITNESSETH:
WHEREAS, Holdings, Mesaba and Northwest have entered into
the Regional Jet Services Agreement dated as of the 25th day of
October, 1996 (as amended to date, the "Agreement");
WHEREAS, Holdings, Mesaba and Northwest desire to amend the
Agreement in the manner set forth in this Amendment.
NOW, THEREFORE, in consideration of the premises and other
good and valuable consideration, the receipt and sufficiency of
which are hereby acknowledged, Holdings, Mesaba and Northwest do
hereby agree as follows:
1. AMENDMENT OF SECTION 2.01(b). Section 2.01(b) of the
Agreement is amended to read in its entirety as follows:
"(b) SUBLEASE OF THE AIRCRAFT. Mesaba and Northwest agree
to enter into (or, as to Northwest, Northwest agrees to cause
such Northwest Affiliate as Northwest may designate to enter
into) a sub-sublease, sublease or lease with respect to each of
the thirty-six (36) Avro Regional Jet aircraft to be purchased
pursuant to the Letter of Intent when, if and as Northwest takes
delivery of each such Avro Regional Jet aircraft."
2. BLOCK HOURS PAYMENT RATE ADJUSTMENT. The Block Hours
Payment Rates set forth in Exhibit A to the Agreement shall be
adjusted [*] to reflect [*] to the [*] through [*] Aircraft. The
parties shall execute an amendment reflecting the adjusted Block
Hour Payment Rates upon the mutual determination of [*].
3. STOCK PURCHASE WARRANT. Holdings agrees to deliver to
Northwest concurrently with the execution of this Amendment an
executed stock purchase warrant in the form attached hereto as
Exhibit A (the "Warrant").
* Confidential material omitted and filed separately with the
Securities and Exchange Commission pursuant to a request for
confidential treatment.
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4. SHARE AUTHORIZATION. Holdings agrees that it shall submit
to its shareholders for their approval, and shall recommend that
the shareholders approve, a proposal (the "Proposal") to increase
the number of authorized shares of common stock of Holdings so
that there shall be a sufficient number of authorized shares of
common stock of Holdings to provide for the exercise of the
purchase rights set forth in the Warrant (taking into account all
other outstanding options, warrants and convertible securities of
Holdings). Northwest agrees that it shall vote all shares of
common stock of Holdings held by it for the Proposal. In the
event the shareholders of Holdings fail to approve the Proposal,
this Amendment shall cease to be effective, the Agreement shall
continue in the form it existed prior to this Amendment, and
Northwest shall return the Warrant to Holdings.
5. MISCELLANEOUS. This Amendment may be executed in any number
of counterparts and by the different parties hereto on separate
counterparts, each of which counterparts when executed and
delivered shall be an original, but all of which shall together
constitute one and the same instrument. This Amendment and the
rights and obligations of the parties hereunder shall be
construed in accordance with and governed by the law of the State
of Minnesota. From and after the date hereof and so long as this
Amendment shall remain effective, all references in the Agreement
to the Agreement shall be deemed to be references to the
Agreement as amended hereby.
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IN WITNESS WHEREOF, the parties hereto have executed this
Amendment as of this date and year first set forth above.
MESABA HOLDINGS, INC.
By: /s/ Xxxxx X. Xxxxxxx
--------------------
Name: Xxxxx X. Xxxxxxx
Title: President and Chief
Executive Officer
MESABA AVIATION, INC.
By: /s/ Xxxxx X. Xxxxxxx
---------------------
Name: Xxxxx X. Xxxxxxx
Title: President and Chief
Executive Officer
NORTHWEST AIRLINES, INC.
By: /s/ J. Xxxxxxx Xxxxxxx
-----------------------
Name: J. Xxxxxxx Xxxxxxx
Title: Senior Vice President
Market Planning and Systems