CHART INDUSTRIES, INC. 12,612,648 Shares Common Stock, par value $0.01 per Share Underwriting Agreement
Exhibit 1.1
CHART INDUSTRIES, INC.
12,612,648 Shares
Common Stock, par value $0.01 per Share
Common Stock, par value $0.01 per Share
Underwriting Agreement
, 2007
Xxxxxx Xxxxxxx & Co. Incorporated
Xxxxxxx, Sachs & Co.
Xxxxxx Brothers Inc.
Natexis Bleichroeder Inc.
Xxxxxxx & Company International
Xxxxxxx, Sachs & Co.
Xxxxxx Brothers Inc.
Natexis Bleichroeder Inc.
Xxxxxxx & Company International
c/o Morgan Xxxxxxx & Co. Incorporated
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
0000 Xxxxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Ladies and Gentlemen:
FR X Chart Holdings LLC, a Delaware limited liability company (“Chart Holdings”), and the
Individuals named in Schedule I hereto (the “Management Selling Stockholders,” and together with
Chart Holdings, the “Selling Stockholders”), propose to sell to the several Underwriters named in
Schedule II hereto (the “Underwriters”), 12,612,648 shares (the “Firm Shares”) of the common stock,
par value $0.01 per share, of Chart Industries, Inc., a corporation organized under the laws of
Delaware (the “Company”).
The Company also proposes to issue and sell to the several Underwriters not more than an
additional 1,891,897 shares of common stock, par value $0.01 per share, of the Company (the
“Additional Shares”) if and to the extent that Xxxxxx Xxxxxxx & Co. Incorporated (“Xxxxxx
Xxxxxxx”), Xxxxxx Brothers Inc. (“Xxxxxx”) and Xxxxxxx, Xxxxx & Co. (“Goldman,” together with
Xxxxxx Xxxxxxx and Xxxxxx, the “Managers”), as Managers of the offering, shall have determined to
exercise, on behalf of the Underwriters, the right to purchase such shares of common stock granted
to the Underwriters in Section 3 hereof. The Firm Shares and the Additional Shares are hereinafter
collectively referred to as the “Shares.” The shares of common stock, par value $0.01 per share,
of the Company are hereinafter referred to as the “Common Stock.”
The Company has filed with the Securities and Exchange Commission (the “Commission”) a
registration statement, including a prospectus, relating to the Shares. The registration statement
as amended at the time it becomes effective, including the information (if any) deemed to be part
of the registration statement at the time of effectiveness pursuant to Rule 430A under the
Securities Act of 1933, as amended (the “Securities Act”), is hereinafter
referred to as the “Registration Statement”; the prospectus in the form first used to confirm sales of
Shares (or in the form first made available to the Underwriters by the Company to meet requests of
purchasers pursuant to Rule 173 under the Securities Act) is hereinafter referred to as the
“Prospectus.” If the Company has filed an abbreviated registration statement to register
additional shares of Common Stock pursuant to Rule 462(b) under the Securities Act (the “Rule 462
Registration Statement”), then any reference herein to the term “Registration Statement” shall be
deemed to include such Rule 462 Registration Statement.
For purposes of this Agreement, “free writing prospectus” has the meaning set forth in Rule
405 under the Securities Act; “Time of Sale Prospectus” means the preliminary prospectus included
in the Registration Statement at the time it became effective, together with the free writing
prospectuses, if any, identified or included in Schedule III hereto and other pricing information,
if any, identified or included in Schedule III hereto; and “road show” has the meaning set forth in
Rule 433(h)(4) under the Securities Act.
1. Representations and Warranties. The Company represents and warrants to each
Underwriter as set forth below in this Section 1:
(a) The Registration Statement has become effective; no stop order suspending the
effectiveness of the Registration Statement is in effect, and no proceedings for such purpose are
pending before or threatened by the Commission.
(b) (i) The Registration Statement, when it became effective, did not contain and, as amended
or supplemented, if applicable, will not contain any untrue statement of a material fact or omit to
state any material fact required to be stated therein or necessary to make the statements therein
not misleading, (ii) the Registration Statement and the Prospectus comply and, as amended or
supplemented, if applicable, will comply in all material respects with the Securities Act and the
applicable rules and regulations of the Commission thereunder, (iii) the Time of Sale Prospectus
does not, and at the time of each sale of the Shares in connection with the offering when the
Prospectus is not yet available to prospective purchasers and at the Closing Date (as defined in
Section 5), the Time of Sale Prospectus, as then amended or supplemented by the Company, if
applicable, will not, contain any untrue statement of a material fact or omit to state a material
fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading, (iv) each issuer free writing prospectus as defined in Rule 433 under
the Act, if any, when considered together with the Time of Sale Prospectus, does not contain any
untrue statement of a material fact or omit to state a material fact necessary to make the
statements therein, in the light of the circumstances under which they were made, not misleading
and (v) the Prospectus does not, as of its date, contain and, as then amended or supplemented, if
applicable, will not contain any untrue statement of a material fact or omit to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided, however, that the Company makes no
representation or warranty as to the information contained in or omitted from the Registration
Statement, the Time of Sale Prospectus or the Prospectus, or any amendment or supplement thereto,
in reliance upon and in conformity with information furnished in writing to the Company by or on
behalf of the Underwriters through the Managers specifically for inclusion therein.
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(c) The Company is not an “ineligible issuer” in connection with the offering pursuant to
Rules 164, 405 and 433 under the Securities Act. Any free writing prospectus that the Company is
required to file pursuant to Rule 433(d) under the Securities Act has been, or will be, filed with
the Commission in accordance with the requirements of the Securities Act and the applicable rules
and regulations of the Commission thereunder. Each free writing prospectus that the Company has
filed, or is required to file, pursuant to Rule 433(d) under the Securities Act or that was
prepared by or on behalf of or used or referred to by the Company complies or will comply in all
material respects with the requirements of the Securities Act and the applicable rules and
regulations of the Commission thereunder and does not conflict with the information contained in
the Registration Statement, the Time of Sale Prospectus or Prospectus. Except for the free writing
prospectuses, if any, identified or included in Schedule III hereto and other pricing information,
if any, identified or included in Schedule III hereto, and road shows, if any, furnished to you
before first use, the Company has not prepared, used or referred to, and will not, without your
prior consent, prepare, use or refer to, any free writing prospectus or any notice, circular,
advertisement, letter or other communication published or transmitted pursuant to Rule 134 of the
Securities Act.
(d) The Company is not, and after giving effect to the offering and the sale of the Shares and
the application of the proceeds thereof as described in the Prospectus will not be, an “investment
company” as defined in the Investment Company Act, without taking account of any exemption arising
out of the number of holders of the Company’s securities.
(e) The Company has not paid or agreed to pay to any person any compensation for soliciting
another to purchase any securities of the Company (except as contemplated in this Agreement).
(f) Neither the Company nor any of its subsidiaries has taken or will take, directly or
indirectly, any action designed to or that has constituted or that would reasonably be expected to
cause or result, under the Exchange Act or otherwise, in unlawful stabilization or manipulation of
the price of any security of the Company to facilitate the sale or resale of the Shares.
(g) The Company and each of its “significant subsidiaries” (as defined in Regulation S-X under
the Securities Act) has been duly incorporated or formed and is validly existing as an entity in
good standing under the laws of the jurisdiction in which it is chartered or organized with full
corporate or other organizational power and authority to own or lease, as the case may be, and to
operate its properties and conduct its business as described in the Time of Sale Prospectus and the
Prospectus, and is duly qualified to do business as a foreign corporation or other entity and is in
good standing under the laws of each jurisdiction where the ownership or leasing of its properties
or the conduct of its business requires such qualification except where the failure to be so
incorporated or formed or existing or qualified, have such power or authority or be in good
standing would not reasonably be expected to have a material adverse effect on the condition
(financial or other), business, properties or results of operations of the Company and its
subsidiaries, taken as a whole (a “Material Adverse Effect”). The Company’s “significant
subsidiaries” are listed on Schedule IV hereto.
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(h) All the outstanding shares of capital stock, membership interests and limited partnership
interests, as applicable, of each significant subsidiary of the Company have been duly authorized
and validly issued and are fully paid and nonassessable, and, except as otherwise set forth in the
Time of Sale Prospectus and the Prospectus, all outstanding shares of capital stock, membership
interests and limited partnership interests, as applicable, of each significant subsidiary of the
Company are owned by the Company either directly or through wholly owned subsidiaries free and
clear of any security interest, claim, lien or encumbrance (other than liens, encumbrances and
restrictions imposed in favor of the lenders under the Company’s existing senior secured credit
facility described in the Time of Sale Prospectus and the Prospectus or permitted thereunder).
(i) (a) This Agreement has been duly authorized, executed and delivered by the Company; (b)
the Shares to be sold by the Selling Stockholders have been duly authorized and are validly issued,
fully paid and non-assessable and are not subject to any preemptive or similar rights; and (c) the
Additional Shares to be sold by the Company have been duly authorized and, when issued and
delivered in accordance with the terms of this Agreement, will be validly issued, fully paid and
non-assessable, and the issuance of the Additional Shares will not be subject to any preemptive or
similar rights.
(j) The authorized capital stock of the Company conforms as to legal matters to the
description thereof contained in the Time of Sale Prospectus and the Prospectus.
(k) No consent, approval, authorization, filing with or order of any court or governmental
agency or body is required in connection with the execution, delivery and performance of this
Agreement (including without limitation the issuance of any Additional Shares), except such (i) as
may be required under the blue sky laws of any jurisdiction in which the Shares are offered and
sold or (ii) as shall have been obtained or made prior to the Closing Date.
(l) None of the execution and delivery of this Agreement by the Company, the issuance and sale
of the Shares or the consummation of any of the transactions herein contemplated will conflict with
or result in a breach or violation or imposition of any lien, charge or encumbrance upon any
property or assets of the Company or any of its subsidiaries pursuant to (i) the charter or bylaws
or other organizational document of the Company or any of its significant subsidiaries; (ii) the
terms of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement or
other agreement, obligation, condition, covenant or instrument to which the Company or any of its
significant subsidiaries is a party or bound or to which its or their property is subject; or (iii)
any statute, law, rule, regulation, judgment, order or decree of any court, regulatory body,
administrative agency, governmental body, arbitrator or other authority having jurisdiction over
the Company or any of its significant subsidiaries or any of its or their properties other than in
the case of clauses (ii) and (iii), such conflicts, breaches, violations, liens, charges or
encumbrances that would not, individually or in the aggregate, reasonably be expected to have a
Material Adverse Effect.
(m) The consolidated historical financial statements of the Company (including those of the
predecessor company) included in the Time of Sale Prospectus, the Prospectus and the Registration
Statement present fairly the financial condition, results of
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operations and cash flows of the Company as of the dates and for the periods indicated, comply
as to form with the applicable accounting requirements of the Securities Act and have been prepared
in conformity with generally accepted accounting principles in the United States applied on a
consistent basis throughout the periods involved (except as otherwise noted therein); the selected
financial data set forth under the captions “Summary Historical Financial Information” and
“Selected Historical Consolidated Financial Data” in the Time of Sale Prospectus, the Prospectus
and the Registration Statement fairly present, on the basis stated in the Time of Sale Prospectus,
the Prospectus and the Registration Statement, the information included therein.
(n) No action, suit or proceeding by or before any court or governmental agency, authority or
body or any arbitrator involving the Company or any of its subsidiaries or its or their property is
pending or, to the best knowledge of the Company, threatened that (i) would reasonably be expected
to have a Material Adverse Effect on the performance of this Agreement or the consummation of any
of the transactions contemplated hereby or (ii) would reasonably be expected to have a Material
Adverse Effect, except as set forth in or contemplated in the Time of Sale Prospectus and the
Prospectus (exclusive of any amendment or supplement thereto).
(o) Each of the Company and its subsidiaries owns or leases all such properties as are
necessary to the conduct of its respective operations as presently conducted except as would not
reasonably be expected to have a Material Adverse Effect.
(p) Neither the Company nor any of its subsidiaries is in violation or default of (i) any
provision of its charter or bylaws or any equivalent organizational document; (ii) the terms of any
indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement or other
agreement, obligation, condition, covenant or instrument to which it is a party or bound or to
which its property is subject; or (iii) any statute, law, rule, regulation, judgment, order or
decree applicable to the Company or any of its subsidiaries of any court, regulatory body,
administrative agency, governmental body, arbitrator or other authority having jurisdiction over
the Company or such subsidiary or any of its properties, as applicable, other than in the cases of
clauses (ii) and (iii), such violations and defaults that would not reasonably be expected to have
a Material Adverse Effect.
(q) Ernst & Young LLP, who have audited certain financial statements of the Company and
delivered their reports with respect to the audited consolidated financial statements included in
the Time of Sale Prospectus and the Prospectus, is an independent registered public accounting firm
with respect to the Company within the meaning of the Securities Act.
(r) The Company has filed all non-U.S., U.S. federal, state and local tax returns that are
required to be filed or has requested extensions thereof (except in any case in which the failure
so to file would not reasonably be expected to have a Material Adverse Effect and except as set
forth in or contemplated in the Time of Sale Prospectus and the Prospectus (exclusive of any
amendment or supplement thereto)) and has paid all taxes required to be paid by it and any other
assessment, fine or penalty levied against it, to the extent that any of the foregoing is due and
payable, except for any such assessment, fine or penalty that is currently being contested in good
faith or as would not reasonably be expected to have a Material Adverse
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Effect and except as set forth in or contemplated in the Time of Sale Prospectus and the
Prospectus (exclusive of any amendment or supplement thereto).
(s) No labor problem or dispute with the employees of the Company or any of its subsidiaries
exists or, to the Company’s knowledge, is threatened or imminent, and the Company is not aware of
any existing or imminent labor disturbance by its employees or any of its or its subsidiaries’
employees, except as would not reasonably be expected to have a Material Adverse Effect and except
as set forth in or contemplated in the Time of Sale Prospectus and the Prospectus (exclusive of any
amendment or supplement thereto).
(t) The Company and each of its subsidiaries are insured against such losses and risks and in
such amounts as are prudent and customary in the businesses in which they are engaged or as
required by law, except as would not reasonably be expected to have a Material Adverse Effect.
(u) No subsidiary of the Company is currently prohibited, directly or indirectly, from paying
any dividends to the Company or any other subsidiary, from making any other distribution on such
subsidiary’s capital stock, from repaying to the Company or any other subsidiary any loans or
advances to such subsidiary from the Company or any other subsidiary or from transferring any of
such subsidiary’s property or assets to the Company or any other subsidiary of the Company, except
as described in or contemplated in the Time of Sale Prospectus and the Prospectus (exclusive of any
amendment or supplement thereto) and except for any prohibitions imposed under the Company’s
existing senior secured credit facility and the indenture governing the Company’s outstanding 9
1/8% senior subordinated notes due 2015.
(v) The Company and its subsidiaries possess all licenses, certificates, permits and other
authorizations issued by the appropriate U.S. federal, state or non-U.S. regulatory authorities
necessary to conduct their respective businesses, except where the failure to possess such
licenses, certificates, permits and other authorizations would not reasonably be expected to have a
Material Adverse Effect, and neither the Company nor any of its subsidiaries has received any
notice of proceedings relating to the revocation or modification of any such certificate,
authorization or permit which, singly or in the aggregate, if the subject of an unfavorable
decision, ruling or finding, would have a Material Adverse Effect, except as set forth in or
contemplated in the Time of Sale Prospectus and the Prospectus (exclusive of any amendment or
supplement thereto).
(w) Except as described in the Time of Sale Prospectus and the Prospectus (exclusive of any
amendment or supplement thereto), the Company and each of its subsidiaries maintain a system of
internal accounting controls sufficient to provide reasonable assurance that (i) transactions are
executed in accordance with management’s general or specific authorizations; (ii) transactions are
recorded as necessary to permit preparation of financial statements in conformity with generally
accepted accounting principles and to maintain asset accountability; (iii) access to assets is
permitted only in accordance with management’s general or specific authorization; and (iv) the
recorded accountability for assets is compared with the existing assets at reasonable intervals and
appropriate action is taken with respect to any differences.
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(x) Except as set forth in or contemplated in the Time of Sale Prospectus and the Prospectus
(exclusive of any amendment or supplement thereto), the Company and its subsidiaries are (i) in
compliance with any and all applicable non-U.S., U.S. federal, state and local laws and regulations
relating to the protection of human health and safety, the environment or hazardous or toxic
substances or wastes, pollutants or contaminants (“Environmental Laws”); (ii) have received and are
in compliance with all permits, licenses or other approvals required of them under applicable
Environmental Laws to conduct their respective businesses; (iii) have not received notice of any
actual or potential liability under any Environmental Law; and (iv) have not been named as a
“potentially responsible party” under the Comprehensive Environmental Response, Compensation, and
Liability Act of 1980, as amended, except where such non-compliance with Environmental Laws,
failure to receive required permits, licenses or other approvals, liability or naming as a
“potentially responsible party” would not, individually or in the aggregate, reasonably be expected
to have a Material Adverse Effect.
(y) Each U.S. pension plan and welfare plan established or maintained by the Company and/or
one or more of its subsidiaries is in compliance with the currently applicable provisions of ERISA
and the Code, except where noncompliance would not reasonably be expected to have a Material
Adverse Effect; and neither the Company nor any of its subsidiaries has incurred or could
reasonably be expected to incur any withdrawal liability under Section 4201 of ERISA, any liability
under Section 4062, 4063 or 4064 of ERISA or any other liability under Title IV of ERISA that would
reasonably be expected to have a Material Adverse Effect.
(z) No forward-looking statement (within the meaning of Section 27A of the Securities Act and
Section 21E of the Exchange Act) or presentation of market-related or statistical data contained in
the Time of Sale Prospectus, the Prospectus or Registration Statement has been made or reaffirmed
without a reasonable basis or has been disclosed in other than good faith.
(aa) No holders of the Company’s Common Stock, other than the Selling Stockholders, the
Individuals named in Schedule V hereto (the “Management Stockholders”) and the Individuals named in
Schedule VI hereto, have rights to include such Common Stock with the Shares in the Registration
Statement.
(bb) Except as described in the Time of Sale Prospectus and the Prospectus (exclusive of any
amendments or supplements thereto subsequent to the date of this Agreement), the Company has not
sold, issued or distributed any shares of Common Stock during the six-month period preceding the
date hereof, including any sales pursuant to Rule 144A under, or Regulation D or Regulation S of,
the Securities Act, other than shares issued pursuant to employee benefit plans, qualified stock
option plans or other employee compensation plans or pursuant to outstanding options, rights or
warrants.
(cc) There is and has been no failure on the part of the Company and any of the Company’s
directors or officers, in their capacities as such, to comply with any provision of the Sarbanes
Oxley Act of 2002 and the rules and regulations promulgated in connection therewith (the “Sarbanes
Oxley Act”), including Section 402 related to loans and Sections 302 and 906 related to
certifications, solely to the extent that the Sarbanes Oxley Act has been applicable to the
Company.
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(dd) Neither the Company nor any of its subsidiaries nor, to the knowledge of the Company, any
director, officer, agent, employee or affiliate of the Company or any of its subsidiaries is
currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the
U.S. Treasury Department (“OFAC”); and the Company will not directly or indirectly use the proceeds
of the offering, or lend, contribute or otherwise make available such proceeds to any subsidiary,
joint venture partner or other person or entity, for the purpose of financing the activities of any
person currently subject to any U.S. sanctions administered by OFAC.
Any certificate signed by any officer of the Company and delivered to the Underwriters or
counsel for the Underwriters in connection with the sale of the Shares by the Selling Stockholders
and the sale of any Additional Shares by the Company, respectively, shall be deemed a
representation and warranty by the Company, as to matters covered thereby, to each Underwriter.
2. Representations and Warranties of the Selling Stockholders. Each of the Selling
Stockholders severally, but not jointly, represents and warrants to and agrees with the
Underwriters that:
(a) This Agreement has been duly authorized, executed and delivered by or on behalf of such
Selling Stockholder.
(b) The execution and delivery by such Selling Stockholder of, and the performance by such
Selling Stockholder of its obligations, as applicable, under, this Agreement, the Custody Agreement
(in the case of Management Selling Stockholders) signed by the Management Selling Stockholders and
Chart Industries, Inc., as Custodian, relating to the deposit of the Shares to be sold by the
Management Selling Stockholders (the “Custody Agreement”) and the Power of Attorney (in the case of
Management Selling Stockholders) appointing certain individuals as such Management Selling
Stockholder’s attorneys-in-fact to the extent set forth therein, relating to the transactions
contemplated hereby and by the Registration Statement (the “Power of Attorney”) will not contravene
(i) any provision of applicable law, (ii) solely in the case of Chart Holdings, the certificate of
formation or operating agreement, (iii) any agreement or other instrument binding upon such Selling
Stockholder or (iv) any judgment, order or decree of any governmental body, agency or court having
jurisdiction over such Selling Stockholder, except in the case of clauses (i) and (iii) as would
not individually or in the aggregate have a material adverse effect on the ability of such Selling
Stockholder to consummate the transactions contemplated by this Agreement, or the Custody Agreement
(in the case of the Management Selling Stockholders) or Power of Attorney (in the case of the
Management Selling Stockholders) and no consent, approval, authorization or order of, or
qualification with, any governmental body or agency is required for the performance by such Selling
Stockholder of its respective obligations under this Agreement, or the Custody Agreement or Power
of Attorney, as applicable, except for the registration of the Shares under the Securities Act and
such as may be required to be obtained or made under state securities or “blue sky” laws or by the
rules and regulations of the NASD in connection with the purchase and sale of the Shares by the
Underwriters.
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(c) Such Selling Stockholder has, and on the Closing Date will have, valid title to, or a
valid “security entitlement” within the meaning of Section 8-501 of the New York Uniform Commercial
Code in respect of, the Shares to be sold by such Selling Stockholder free and clear of all
security interests, claims, liens, equities or other encumbrances and the legal right and power,
and all authorization and approval required by law, to enter into this Agreement, the Custody
Agreement and the Power of Attorney, as applicable, and to sell, transfer and deliver the Shares to
be sold by such Selling Stockholder or a security entitlement in respect of the Shares.
(d) In the case of the Management Selling Stockholders, the Custody Agreement and the Power of
Attorney have been duly authorized, executed and delivered by the Management Selling Stockholders
and are valid and binding agreements of the Management Selling Stockholders.
(e) Upon payment for the Shares to be sold by such Selling Stockholder pursuant to this
Agreement, delivery of the Shares, as directed by the Underwriters, to Cede & Co. (“Cede”) or such
other nominee as may be designated by The Depository Trust Company (“DTC”), registration of the
Shares in the name of Cede or such other nominee and the crediting of the Shares on the books of
DTC to securities accounts of the Underwriters (assuming that neither DTC nor the Underwriters has
notice of any adverse claim (within the meaning of Section 8-105 of the New York Uniform Commercial
Code (the “UCC”)) to the Shares), (A) DTC shall be a “protected purchaser” of the Shares within the
meaning of Section 8-303 of the UCC, (B) under Section 8-501 of the UCC, the Underwriters will
acquire a valid security entitlement in respect of the Shares and (C) no action based on any
“adverse claim”, within the meaning of Section 8-102 of the UCC, to the Shares may be asserted
against the Underwriters with respect to such security entitlement; for purposes of this
representation, such Selling Stockholder may assume that when such payment, delivery and crediting
occur, (x) the Shares will have been registered in the name of Cede or another nominee designated
by DTC, in each case on the Company’s share registry in accordance with its certificate of
incorporation, bylaws and applicable law, (y) DTC will be registered as a “clearing corporation”
within the meaning of Section 8-102 of the UCC and (z) appropriate entries to the accounts of the
Underwriters on the records of DTC will have been made pursuant to the UCC.
(f) Such Selling Stockholder is not prompted to sell its Shares pursuant to this Agreement by
any material information concerning the Company or its subsidiaries that has not been publicly
disclosed.
(g) (i) Each part of the Registration Statement, when it became effective, did not contain
and, as amended or supplemented, if applicable, will not contain any untrue statement of a material
fact or omit to state a material fact required to be stated therein or necessary to make the
statements therein not misleading, (ii) the Time of Sale Prospectus does not, and at the time of
each sale of the Shares and at the Closing Date, the Time of Sale Prospectus, as then amended or
supplemented by the Company, if applicable, will not, contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein, in the light of the
circumstances under which they were made, not misleading, (iii) the Prospectus does not contain
and, as amended or supplemented, if applicable, will not contain any untrue statement of a material
fact or omit to state a material fact necessary to make the statements therein, in the light of the
circumstances under which they were made,
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not misleading; provided that each of the representations and warranties set forth in
clauses (i) to (iii) of this Paragraph 2(g) is limited solely to statements or omissions made in
reliance upon information relating to such Selling Stockholder furnished in writing to the Company
by such Selling Stockholder expressly for use in the Registration Statement, the Time of Sale
Prospectus, the Prospectus or any amendments or supplements thereto.
Any certificate signed by any officer, acting as such, on behalf of a Selling Stockholder and
delivered to the Underwriters or counsel for the Underwriters in connection with the offering of
the Shares shall be deemed a representation and warranty by such Selling Stockholder, as to matters
covered thereby, to the Underwriters.
3. Agreements to Sell and Purchase. The Selling Stockholders hereby agree, severally
and not jointly, to sell to the several Underwriters, and each Underwriter, upon the basis of the
representations and warranties herein contained, but subject to the conditions hereinafter stated,
agrees, severally and not jointly, to purchase from the Selling Stockholders at $• a share (the
“Purchase Price”) the respective numbers of Firm Shares set forth in Schedule II hereto opposite
its name.
On the basis of the representations and warranties contained in this Agreement, and subject to
its terms and conditions, the Company agrees to sell to the Underwriters the Additional Shares, and
the Underwriters shall have the right to purchase, severally and not jointly, up to 1,891,897
Additional Shares at the Purchase Price. You may exercise this right on behalf of the Underwriters
in whole or from time to time in part by giving written notice of each election to exercise the
option not later than 30 days after the date of this Agreement. Any exercise notice shall specify
the number of Additional Shares to be purchased by the Underwriters and the date on which such
shares are to be purchased. Each purchase date must be at least one business day after the written
notice is given and may not be earlier than the closing date for the Firm Shares nor later than ten
business days after the date of such notice. Additional Shares may be purchased as provided in
Section 5 hereof solely for the purpose of covering over-allotments made in connection with the
offering of the Firm Shares. On each day, if any, that Additional Shares are to be purchased (an
“Option Closing Date”), each Underwriter agrees, severally and not jointly, to purchase the number
of Additional Shares (subject to such adjustments to eliminate fractional shares as you may
determine) that bears the same proportion to the total number of Additional Shares to be purchased
on such Option Closing Date as the number of Firm Shares set forth in Schedule II hereto opposite
the name of such Underwriter bears to the total number of Firm Shares.
The Company hereby agrees that, without the prior written consent of the Managers on behalf of
the Underwriters, it will not, during the period ending 90 days after the date of the Prospectus,
(i) offer, pledge, sell, contract to sell, sell any option or contract to purchase, purchase any
option or contract to sell, grant any option, right or warrant to purchase, lend, or otherwise
transfer or dispose of, directly or indirectly, any shares of Common Stock or any securities
convertible into or exercisable or exchangeable for Common Stock or (ii) enter into any swap or
other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of the Common Stock, whether any such transaction described in clause (i) or (ii)
above is to be settled by delivery of Common Stock or such other securities, in cash or otherwise
or (iii) file any registration statement with the Commission (other
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than a registration statement on Form S-8) relating to the offering of any shares of Common
Stock or any securities convertible into or exercisable or exchangeable for Common Stock.
The restrictions contained in the preceding paragraph shall not apply to (A) the Shares to be
sold hereunder, (B) the issuance by the Company of shares of Common Stock upon the exercise of an
option or warrant or the conversion of a security outstanding on the date hereof of which the
Underwriters have been advised in writing, (C) grants, issuances or exercises under any existing
employee benefits plans or (D) the issuance of Common Stock in connection with the acquisition of,
or joint venture with, another company; provided that in the case of any transfer,
distribution or issuance pursuant to clause (D), (i) each distributee or recipient shall sign and
deliver a lock-up letter substantially in the form of Exhibit A hereto and (ii) each distributee or
the recipient shall not be required to, and shall not voluntarily, file a report under the Exchange
Act, reporting a reduction in beneficial ownership of shares of Common Stock during the restricted
period referred to in the preceding paragraph.
Each of the Company and the Selling Stockholders also agree and consent to the entry of stop
transfer instructions with the Company’s transfer agent and registrar against the transfer of
shares of Common Stock except in compliance with the foregoing restrictions.
4. Terms of Public Offering. The Company and the Selling Stockholders are advised by
you that the Underwriters propose to make a public offering of their respective portions of the
Shares as soon after the Registration Statement and this Agreement have become effective as in your
judgment is advisable. The Company and the Selling Stockholders are further advised by you that
the Shares are to be offered to the public initially at $· a share (the “Public Offering
Price”) and to certain dealers selected by you at a price that represents a concession not in
excess of $· a share under the Public Offering Price.
5. Payment and Delivery. Payment for the Firm Shares shall be made to the Selling
Stockholders to such accounts as they may direct in writing in Federal or other funds immediately
available in New York City against delivery of such Firm Shares for the respective accounts of the
several Underwriters at 10:00 a.m., New York City time, on , 2007, or at such other time or such
other date, not later than , 2007, as shall be designated in writing by you. The time and date of
such payment are hereinafter referred to as the “Closing Date.”
Payment for any Additional Shares shall be made to the Company in Federal or other funds
immediately available in New York City against delivery of such Additional Shares for the
respective accounts of the several Underwriters at 10:00 a.m., New York City time, on the date
specified in the corresponding notice described in Section 3 or at such other time on the same or
on such other date, in any event not later than , 2007, as shall be designated in writing by you.
The time and date of such payment are hereinafter referred to as the “Option Closing Date.”
The Firm Shares and Additional Shares shall be registered in such names and in such
denominations as you shall request in writing not later than two full business days prior to the
Closing Date or the applicable Option Closing Date, as the case may be. The Firm Shares and
Additional Shares shall be delivered to you on the Closing Date or an Option Closing Date,
11
as the case may be, for the respective accounts of the several Underwriters, with any transfer
taxes payable in connection with the transfer of the Shares to the Underwriters duly paid, against
payment of the Purchase Price therefor.
6. Agreements. The Company agrees with each Underwriter that:
(a) The Company will furnish to each Underwriter and to counsel for the Underwriters, without
charge, signed copies of the Registration Statement (including exhibits thereto) and will furnish
to the Underwriters during the period referred to in paragraph (c) below, as many copies of the
Time of Sale Prospectus, the Prospectus and any amendments and supplements thereto as they may
reasonably request no later than 5:00 p.m., New York City time, on the day immediately following
the date hereof.
(b) The Company will not make any amendment or supplement to the Time of Sale Prospectus or
the Prospectus without the prior written consent of the Managers (not to be unreasonably withheld
or delayed).
(c) The Company will furnish each Underwriter a copy of each proposed free writing prospectus
to be prepared by or on behalf of, used by, or referred to by the Company and shall not use or
refer to any proposed free writing prospectus to which the Underwriters reasonably object.
(d) The Company will not take any action that would result in an Underwriter or the Company
being required to file with the Commission pursuant to Rule 433(d) under the Securities Act a free
writing prospectus or Company information prepared by or on behalf of the Underwriter that the
Underwriter otherwise would not have been required to file thereunder.
(e) If the Time of Sale Prospectus is being used to solicit offers to buy the Shares at a time
when the Prospectus is not yet available to prospective purchasers and any event shall occur or
condition exist as a result of which, in the opinion of counsel for the Underwriters or counsel for
the Company, it is necessary to amend or supplement the Time of Sale Prospectus in order to make
the statements therein, in the light of the circumstances, not misleading, or if any event shall
occur or condition exist as a result of which, in the opinion of counsel for the Underwriters or
counsel for the Company, the Time of Sale Prospectus conflicts with the information contained in
the Registration Statement then on file, or if, in the opinion of counsel for the Underwriters or
counsel for the Company, it is necessary to amend or supplement the Time of Sale Prospectus to
comply with applicable law, the Company will promptly prepare, file with the Commission and
furnish, at its own expense, to the Underwriters and to any dealer upon request, either amendments
or supplements to the Time of Sale Prospectus so that the statements in the Time of Sale Prospectus
as so amended or supplemented will not, in the light of the circumstances when delivered to a
prospective purchaser, be misleading or so that the Time of Sale Prospectus, as amended or
supplemented, will no longer conflict with the Registration Statement, or so that the Time of Sale
Prospectus, as amended or supplemented, will comply with applicable law.
(f) If at any time when a prospectus (or in lieu thereof the notice referred to in Rule 173(a)
under the Securities Act) relating to the Shares is required to be delivered under the
12
Securities Act, any event occurs as a result of which, in the opinion of counsel for the
Underwriters and counsel for the Company, it is necessary to amend or supplement the Prospectus, as
then amended or supplemented, (i) in order that the Prospectus would not include any untrue
statement of a material fact or omit to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not misleading, or (ii) to
comply with applicable law, the Company will promptly (A) notify the Underwriters of any such
event; (B) subject to the requirements of paragraph (b) of this Section 6, prepare an amendment or
supplement that will correct such statement or omission or effect such compliance; and (C) supply
any supplemented or amended Prospectus to the several Underwriters and counsel for the Underwriters
without charge in such quantities as they may reasonably request.
(g) The Company will arrange, if necessary, for the qualification of the Shares for sale by
the Underwriters under the laws of such jurisdictions as the Underwriters may designate and will
maintain such qualifications in effect so long as required for the sale of the Shares;
provided that in no event shall the Company be obligated to qualify to do business in any
jurisdiction where it is not now so qualified or to take any action that would subject it to
service of process in suits, other than those arising out of the offering or sale of the Shares, in
any jurisdiction where it is not now so subject or to subject itself to taxation in excess of a
nominal amount in respect of doing business in any jurisdiction. The Company will promptly advise
the Underwriters of the receipt by the Company of any notification with respect to the suspension
of the qualification of the Shares for sale in any jurisdiction or the initiation or threatening of
any proceeding for such purpose.
(h) The Company will not take, directly or indirectly, any action designed to or which has
constituted or which might reasonably be expected to cause or result, under the Exchange Act or
otherwise, in unlawful stabilization or manipulation of the price of any security of the Company to
facilitate the sale or resale of the Shares.
(i) The Company agrees to pay the costs and expenses relating to the following matters: (i)
the preparation, printing (or reproduction), delivery (including postage, air freight charges and
charges for counting and packaging) and filing of copies of any preliminary prospectus, the Time of
Sale Prospectus, the Prospectus, any free writing prospectus prepared by or on behalf of, used by
or referred to by the Company and the Registration Statement, and all amendments or supplements to
any of the foregoing, as may, in each case, be reasonably requested for use in connection with the
offering and sale of the Shares; (ii) any stamp or transfer taxes in connection with the original
issuance of any Additional Shares and the sale and delivery of the Shares; (iii) the printing (or
reproduction) and delivery of this Agreement and any blue sky memorandum delivered to investors in
connection with the offering of the Shares; (iv) any registration or qualification of the Shares
for offer and sale under the securities or blue sky laws of the several states and any other
jurisdictions specified pursuant to Section 6(g) (including filing fees and the reasonable fees
relating to such registration and qualification and expenses of one counsel for the Underwriters in
each jurisdiction in which such registration and qualification is required); (v) all filing fees
and the reasonable fees and disbursements of one counsel to the Underwriters incurred in connection
with the review and qualification of the offering of the Shares by the National Association of
Securities Dealers, Inc.; (vi) all costs and expenses
13
incident to listing the Shares on the Nasdaq Global Market; (vii) the cost of printing
certificates representing the Shares; (viii) the costs and charges of any transfer agent, registrar
or depositary; (ix) the transportation and other expenses (collectively, the “Road Show Expenses”)
incurred by or on behalf of the representatives of the Company and the Selling Stockholders in
connection with presentations to prospective purchasers of the Shares; (x) the fees and expenses of
the Company’s accountants and the fees and expenses of counsel (including local and special
counsel) for the Company and one counsel for the Selling Stockholders (selected by Chart Holdings);
and (xi) all other costs and expenses incident to the performance by the Company and/or the Selling
Stockholders of their respective obligations hereunder; provided, however, that the
Underwriters will pay one-half of the Road Show Expenses including one-half of the cost of any
chartered aircraft used in connection with presentations to prospective purchasers of the Shares;
provided, further, that all underwriting discounts, commissions and other amounts payable
to underwriters or brokers for Firm Shares will be borne by the respective Selling Stockholders.
(j) The Company will use its best efforts to cause the Registration Statement, if not
effective at the Execution Time, and any amendment thereof, to become effective. Prior to the
termination of the offering of the Shares, the Company will not file any amendment of the
Registration Statement or supplement to the Time of Sale Prospectus or Prospectus or any Rule
462(b) Registration Statement unless the Company has furnished you a copy for your review prior to
filing and will not file any such proposed amendment or supplement to which you reasonably object.
Subject to the foregoing sentence, if the Registration Statement has become or becomes effective
pursuant to Rule 430A, or filing of the Prospectus is otherwise required under Rule 424(b), the
Company will cause the Prospectus, properly completed, and any supplement thereto to be filed in a
form approved by the Managers with the Commission pursuant to the applicable paragraph of Rule
424(b) within the time period prescribed and will provide evidence satisfactory to the Managers of
such timely filing. The Company will promptly advise the Managers (1) when the Registration
Statement, if not effective at the Execution Time, shall have become effective, (2) when the
Prospectus, and any supplement thereto, shall have been filed (if required) with the Commission
pursuant to Rule 424(b) or when any Rule 462(b) Registration Statement shall have been filed with
the Commission, (3) when, prior to termination of the offering of the Shares, any amendment to the
Registration Statement shall have been filed or become effective, (4) of any request by the
Commission or its staff for any amendment of the Registration Statement, or any Rule 462(b)
Registration Statement, or for any supplement to the Prospectus or for any additional information,
(5) of the issuance by the Commission of any stop order suspending the effectiveness of the
Registration Statement or the institution or threatening of any proceeding for that purpose and (6)
of the receipt by the Company of any notification with respect to the suspension of the
qualification of the Shares for sale in any jurisdiction or the institution or threatening of any
proceeding for such purpose. The Company will use its best efforts to prevent the issuance of any
such stop order or the suspension of any such qualification and, if issued, to obtain as soon as
possible the withdrawal thereof.
(k) The Company will comply with all applicable securities and other applicable laws, rules
and regulations, including, without limitation, the Sarbanes Oxley Act, and use its best efforts to
cause the Company’s directors and officers, in their capacities as such, to
14
comply with such laws, rules and regulations, including, without limitation, the provisions of
the Sarbanes Oxley Act.
(l) As soon as practicable, the Company will make generally available to its security holders
and to the Managers an earnings statement or statements of the Company and its subsidiaries which
will satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 under the
Securities Act.
(m) The Company will use the net proceeds received by it from the sale of the Additional
Shares in the manner specified in the Prospectus under “Use of Proceeds.”
7. Selling Stockholders’ Agreements. Each of the Selling Stockholders agrees severally, but
not jointly, with each Underwriter that:
(a) The Selling Stockholder will not take any action that would result in an Underwriter or
the Company being required to file with the Commission pursuant to Rule 433(d) under the Securities
Act a free writing prospectus or Company information prepared by or on behalf of the Underwriter
that the Underwriter otherwise would not have been required to file thereunder.
(b) Other than as contemplated under this Agreement, the Selling Stockholder agrees that it
will not take, directly or indirectly, any action designed to or which has constituted or which
might reasonably be expected to cause or result, under the Exchange Act or otherwise, in unlawful
stabilization or manipulation of the price of any security of the Company to facilitate the sale or
resale of the Shares.
8. Covenants of the Underwriters. Each Underwriter severally covenants with the
Company not to take any action that would result in the Company being required to file with the
Commission under Rule 433(d) of the Securities Act a free writing prospectus or Company information
prepared by or on behalf of such Underwriter that otherwise would not be required to be filed by
the Company thereunder, but for the action of the Underwriter.
9. Conditions to the Obligations of the Underwriters. The obligations of the Selling
Stockholders to sell the Firm Shares and the obligations of the Company to sell any Additional
Shares, respectively, to the Underwriters and the several obligations of the Underwriters to
purchase and pay for the Shares shall be subject to the accuracy in all material respects of the
representations and warranties of the Company and the Selling Stockholders contained herein that
are not qualified by materiality and to the accuracy of the representations and warranties of the
Company and the Selling Stockholders contained herein that are qualified by materiality at the date
hereof, the Closing Date, and any Option Closing Date, if applicable, to the accuracy of the
statements of the Company and the Selling Stockholders made in any certificates pursuant to the
provisions hereof, to the performance by the Company and the Selling Stockholders of their
respective obligations hereunder and to the following additional conditions:
(a) The Company shall have requested and caused (i) Xxxxxxx Xxxxxxx & Xxxxxxxx LLP, counsel
for the Company, to furnish to the Underwriters their opinion and negative assurance statement,
each dated the Closing Date and, if applicable, any Option Closing Date,
15
and addressed to the Underwriters and substantially in the form of Exhibits B and C hereto;
and (ii) Xxxxxxx X. Xxxxxx, Vice President, General Counsel and Secretary of the Company, to
furnish to the Underwriters his opinion dated the Closing Date and, if applicable, any Option
Closing Date, addressed to the Underwriters and substantially in the form of Exhibit D hereto.
(b) The Selling Stockholders shall have requested and caused (i) Xxxxxxx Xxxxxxx & Xxxxxxxx
LLP, counsel for Chart Holdings and the Management Selling Stockholders relating to certain matters
under the New York Uniform Commercial Code, to furnish to the Underwriters their opinion dated the
Closing Date, and if applicable, the Option Closing Date, and addressed to the Underwriters and
substantially in the form of Exhibit E hereto; and (ii) Xxxxxxx X. Xxxxxx, Vice President, General
Counsel and Secretary of the Company, to furnish to the Underwriters his opinion on certain matters
in respect of the Management Selling Stockholders dated the Closing Date and, if applicable, any
Option Closing Date, addressed to the Underwriters and substantially in the form of Exhibit F
hereto.
(c) The Underwriters shall have received from Shearman & Sterling LLP, counsel for the
Underwriters, such opinion or opinions, dated the Closing Date and, if applicable, any Option
Closing Date, and addressed to the Underwriters, with respect to the offer and sale of the Shares,
the Time of Sale Prospectus, the Prospectus and Registration Statement and other related matters as
the Underwriters may reasonably require, and the Company shall have furnished to such counsel such
documents as they request for the purpose of enabling them to pass upon such matters.
(d) The Company shall have furnished to the Underwriters a certificate of the Company, signed
by (x) the Chief Executive Officer or the President and (y) the principal financial or accounting
officer of the Company, dated the Closing Date and, if applicable, any Option Closing Date, to the
effect that the signers of such certificate have carefully examined the Time of Sale Prospectus,
the Prospectus and Registration Statement, any amendment or supplement to the Time of Sale
Prospectus, the Prospectus and Registration Statement and this Agreement and that:
(i) the representations and warranties of the Company in this Agreement that
are not qualified by materiality are true and correct in all material respects, and
the representations and warranties of the Company in this Agreement that are
qualified by materiality are true and correct, in each case, on and as of the
Closing Date or any Option Closing Date, as the case may be, with the same effect as
if made on the Closing Date, or such Option Closing Date, as the case may be, and
the Company has complied with all the agreements and satisfied all the conditions on
its part to be performed or satisfied hereunder at or prior to the Closing Date, or
any Option Closing Date, as the case may be; and
(ii) since the date of the most recent financial statements included in the
Time of Sale Prospectus and the Registration Statement (exclusive of any amendment
or supplement thereto), there has been no material adverse change in the condition,
financial or otherwise, or in the earnings, business, properties or results of
operations of the Company and its subsidiaries, taken as a whole, from
16
that set forth in the Time of Sale Prospectus and the Prospectus (exclusive of
any amendments or supplements thereto subsequent to the date of this Agreement).
(e) (i) Chart Holdings shall have furnished to the Underwriters a certificate, signed by an
executive officer of Chart Holdings, dated the Closing Date to the effect that the representations
and warranties it has made in this Agreement that are not qualified by materiality are true and
correct in all material respects and the representations and warranties it has made that are
qualified by materiality are true and correct on and as of the Closing Date with the same effect as
if made on the Closing Date and it has complied with all the agreements and satisfied all the
conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date; and
(ii) each Management Selling Stockholder shall have furnished to the Underwriters a certificate,
each dated the Closing Date to the effect that the representations and warranties of such
Management Selling Stockholder in this Agreement that are not qualified by materiality are true and
correct in all material respects and the representations and warranties of such Management Selling
Stockholder that are qualified by materiality are true and correct on and as of the Closing Date
with the same effect as if made on the Closing Date and such Management Selling Stockholder has
complied with all the agreements and satisfied all the conditions on its part to be performed or
satisfied hereunder at or prior to the Closing Date.
(f) The Management Selling Stockholders shall have furnished to the Underwriters a Custody
Agreement substantially in the form of Exhibit G hereto.
(g) At the date hereof and at the Closing Date, the Company shall have requested and caused
Ernst & Young LLP to furnish to the Underwriters a “comfort” letter, dated as of the date hereof,
and a bring-down “comfort” letter (i) on and dated as of the Closing Date and (ii) if applicable,
on and dated as of any Option Closing Date, each in form and substance satisfactory to the
Managers, confirming that it is an independent registered public accounting firm within the meaning
of the Exchange Act and the applicable published rules and regulations thereunder and confirming
certain matters with respect to the audited and unaudited financial statements and other financial
and accounting information contained in the Time of Sale Prospectus, the Prospectus and
Registration Statement; provided that the letter delivered on the Closing Date shall use a
“cut-off” date no more than three days prior to the date of such letter.
All references in this Section 9(g) to the Time of Sale Prospectus, the Prospectus and
Registration Statement include any amendment or supplement thereto at the date of the applicable
letter.
(h) The “lock-up” agreements, each substantially in the form of Exhibit A hereto, between you
and each executive officer and director of the Company and the Management Selling Stockholders,
each listed on Schedule V hereto, relating to sales and certain other dispositions of shares of
Common Stock or certain other securities, delivered to you on or before the date hereof, shall be
in full force and effect on the Closing Date.
(i) Subsequent to the execution and delivery of this Agreement and prior to the Closing Date
or, if applicable, any Option Closing Date:
17
(i) there shall not have occurred any downgrading, nor shall any notice have
been given of any intended or potential downgrading or of any review for a possible
change that does not indicate the direction of the possible change, in the rating
accorded any of the Company’s securities by any “nationally recognized statistical
rating organization,” as such term is defined for purposes of Rule 436(g)(2) under
the Securities Act; and
(ii) there shall not have occurred any change, or any development involving a
prospective change, in the condition, financial or otherwise, or in the earnings,
business, properties or results of operations of the Company and its subsidiaries,
taken as a whole, from that set forth in the Time of Sale Prospectus (exclusive of
any amendments or supplements thereto subsequent to the date of this Agreement)
that, in your judgment, is material and adverse and that makes it, in your judgment,
impracticable to market the Shares on the terms and in the manner contemplated in
the Time of Sale Prospectus.
(j) Prior to the Closing Date, or, if applicable, any Option Closing Date, the Company and/or
the Selling Stockholders shall have furnished to the Underwriters such further information,
certificates and documents as the Underwriters may reasonably request.
(k) The Shares shall have been listed on the Nasdaq Global Market.
(l) On the Closing Date, and, if applicable, any Option Closing Date, the Registration
Statement shall be effective, no stop order suspending the effectiveness of the Registration
Statement shall be in effect, and no proceedings for such purpose shall be pending before or
threatened by the Commission.
(m) No Underwriter shall have notice of an adverse claim on the Shares within the meaning of
Section 8-102 of the UCC.
If any of the conditions specified in this Section 9 shall not have been fulfilled when and as
provided in this Agreement, or if any of the opinions, letters, evidence and certificates mentioned
above in this Section 9 shall not be reasonably satisfactory in form and substance to the Managers
and counsel for the Underwriters, this Agreement and all obligations of the Underwriters hereunder
may be cancelled at, or at any time prior to, the Closing Date or, if applicable, any Option
Closing Date (solely with respect to the obligations of the Underwriters to purchase Additional
Shares on such date) by the Underwriters. Notice of such cancellation shall be given to the
Company in writing or by telephone or facsimile confirmed in writing.
The documents required to be delivered by this Section 9 will be delivered at the office of
counsel for the Underwriters, at 000 Xxxxxxxxx Xxxxxx, Xxx Xxxx, Xxx Xxxx 00000, on the Closing
Date or, if applicable, the Option Closing Date.
10. Reimbursement of Expenses. If the sale of the Shares provided for herein is not
consummated because any condition to the obligations of the Underwriters set forth in Section 9
hereof is not satisfied, because of any termination pursuant to Section 13 hereof or because of any
refusal, inability or failure on the part of the Company or the Selling
18
Stockholders to perform any agreement herein or comply with any provision hereof other than by
reason of a default by any of the Underwriters, including any default pursuant to Section 12
hereof, the Company will reimburse the Underwriters severally through the Managers on demand for
all reasonable expenses (including reasonable fees and disbursements of counsel) that shall have
been incurred by them in connection with the proposed purchase and sale of the Shares.
11. Indemnification and Contribution. (a) The Company agrees to indemnify and hold
harmless each Underwriter, the directors, officers and Affiliates of each Underwriter and each
person who controls any Underwriter within the meaning of either the Securities Act or the Exchange
Act against any and all losses, claims, damages or liabilities, joint or several, to which they or
any of them may become subject under the Securities Act, the Exchange Act or other U.S. federal or
state statutory law or regulation, at common law or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in the Registration Statement,
any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing prospectus as
defined in Rule 433(h) under the Securities Act, any Company information that the Company has
filed, or is required to file, pursuant to Rule 433(d) of the Securities Act (provided that the
Company’s indemnification obligation shall not extend to any free writing prospectus or Company
information required to be filed by the Company due to an Underwriter’s breach of Section 8) or the
Prospectus, or in any amendment or supplement thereto or arise out of or are based upon the
omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading, and (subject to the limitations set forth in the proviso to this sentence)
agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses
reasonably incurred by it in connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that the Company will not be liable
in any such case to the extent that any such loss, claim, damage or liability arises out of or is
based upon any such untrue statement or alleged untrue statement or omission or alleged omission
made in the Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any
issuer free writing prospectus as defined in Rule 433(h) under the Securities Act, any Company
information that the Company has filed, or is required to file, pursuant to Rule 433(d) of the
Securities Act, or the Prospectus, or in any amendment or supplement thereto, in reliance upon and
in conformity with written information furnished to the Company by or on behalf of (i) one or more
Selling Stockholders or (ii) any Underwriter through the Managers specifically for inclusion
therein. This indemnity agreement will be in addition to any liability that the Company may
otherwise have. The Company shall not be liable under this Section 11 to any indemnified party
regarding any settlement or compromise or consent to the entry of any judgment with respect to any
pending or threatened claim, action, suit or proceeding in respect of which indemnification or
contribution may be sought hereunder (whether or not the indemnified parties are actual or
potential parties to such claim or action) unless such settlement, compromise or consent is
consented to by the Company, which consent shall not be unreasonably withheld.
(b) Each Selling Stockholder severally, and not jointly, agrees to indemnify and hold harmless
each Underwriter, the directors, officers and Affiliates of each Underwriter and each person who
controls any Underwriter within the meaning of either the Securities Act or
19
the Exchange Act against any and all losses, claims, damages or liabilities, joint or several,
to which they or any of them may become subject under the Securities Act, the Exchange Act or other
U.S. federal or state statutory law or regulation, at common law or otherwise, insofar as such
losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based
upon any untrue statement or alleged untrue statement of a material fact contained in the
Registration Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free
writing prospectus as defined in Rule 433(h) under the Securities Act, any Company information that
the Company has filed, or is required to file, pursuant to Rule 433(d) of the Securities Act, or
the Prospectus, or in any amendment or supplement thereto or arise out of or are based upon the
omission or alleged omission to state therein a material fact required to be stated therein or
necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading, and (subject to the limitations set forth in the proviso to this sentence)
agrees to reimburse each such indemnified party, as incurred, for any legal or other expenses
reasonably incurred by it in connection with investigating or defending any such loss, claim,
damage, liability or action; provided, however, that each Selling Stockholder will
only be liable in any such case to the extent that any such loss, claim, damage or liability arises
out of or is based upon any such untrue statement or alleged untrue statement or omission or
alleged omission made in the Registration Statement, any preliminary prospectus, the Time of Sale
Prospectus, any issuer free writing prospectus as defined in Rule 433(h) under the Securities Act,
any Company information that the Company has filed, or is required to file, pursuant to Rule 433(d)
of the Securities Act, or the Prospectus, or in any amendment or supplement thereto, in reliance
upon and in conformity with written information furnished by or on behalf of the Selling
Stockholders specifically for inclusion therein. The liability of each Selling Stockholder under
the indemnity agreement contained in this paragraph shall be limited to an amount equal to the
aggregate net proceeds from the sale of the Shares sold by such Selling Stockholder under this
Agreement. The Underwriters acknowledge that the information in any preliminary prospectus, the
Time of Sale Prospectus and the Prospectus contained under the caption “Principal and Selling
Stockholders,” insofar as it relates to the Selling Stockholders and the beneficial ownership of
the Selling Stockholders’ shares, constitutes the only information furnished in writing by or on
behalf of the Selling Stockholders for inclusion in the Registration Statement, any preliminary
prospectus, the Time of Sale Prospectus, the Prospectus, or in any amendment of supplement thereto.
This indemnity agreement will be in addition to any liability that the Selling Stockholders may
otherwise have. The Selling Stockholders shall not be liable under this Section 11 to any
indemnified party regarding any settlement or compromise or consent to the entry of any judgment
with respect to any pending or threatened claim, action, suit or proceeding in respect of which
indemnification or contribution may be sought hereunder (whether or not the indemnified parties are
actual or potential parties to such claim or action) unless such settlement, compromise or consent
is consented to by the Selling Stockholders, which consent shall not be unreasonably withheld.
(c) Each Underwriter severally, and not jointly, agrees to indemnify and hold harmless the
Company and the Selling Stockholders, the Company’s directors, officers and Affiliates, and each
person who controls the Company or the Selling Stockholders within the meaning of either the
Securities Act or the Exchange Act, to the same extent as the foregoing indemnity from the Company
and the Selling Stockholders to each Underwriter, but only with reference to written information
relating to such Underwriter furnished to the Company by or on
20
behalf of such Underwriter through the Managers specifically for inclusion in the Registration
Statement, any preliminary prospectus, the Time of Sale Prospectus, any issuer free writing
prospectus or the Prospectus (or in any amendment or supplement thereto). This indemnity agreement
will be in addition to any liability that any Underwriter may otherwise have. The Company and the
Selling Stockholders acknowledge that, under the heading “Underwriting,” [the table after the first
paragraph, the eleventh, twelfth, thirteen and fourteenth] paragraph in any preliminary prospectus,
the Time of Sale Prospectus and the Prospectus constitute the only information furnished in writing
by or on behalf of the Underwriters for inclusion in the Registration Statement, any preliminary
prospectus, the Time of Sale Prospectus, any issuer free writing prospectus or the Prospectus or in
any amendment or supplement thereto.
(d) Promptly after receipt by an indemnified party under this Section 11 of notice of the
commencement of any action, such indemnified party will, if a claim in respect thereof is to be
made against the indemnifying party under this Section 11, notify the indemnifying party in writing
of the commencement thereof; but the failure so to notify the indemnifying party (i) will not
relieve it from liability under paragraph (a), (b) or (c) above unless and to the extent it did not
otherwise learn of such action and such failure results in the forfeiture by the indemnifying party
of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party
from any obligations to any indemnified party other than the indemnification obligation provided in
paragraph (a), (b) or (c) above. The indemnifying party shall be entitled to appoint counsel
(including local counsel) of the indemnifying party’s choice at the indemnifying party’s expense to
represent the indemnified party in any action for which indemnification is sought (in which case
the indemnifying party shall not thereafter be responsible for the fees and expenses of any
separate counsel, other than local counsel if not appointed by the indemnifying party, retained by
the indemnified party or parties except as set forth below); provided, however,
that such counsel shall be reasonably satisfactory to the indemnified party. Notwithstanding the
indemnifying party’s election to appoint counsel (including local counsel) to represent the
indemnified party in an action, the indemnified party shall have the right to employ separate
counsel (including local counsel), and the indemnifying party shall bear the reasonable fees, costs
and expenses of such separate counsel if (i) the use of counsel chosen by the indemnifying party to
represent the indemnified party would present such counsel with a conflict of interest (based on
the advise of counsel to the indemnified person); (ii) such action includes both the indemnified
party and the indemnifying party and the indemnified party shall have reasonably concluded (based
on the advise of counsel to the indemnified person) that there may be legal defenses available to
it and/or other indemnified parties that are different from or additional to those available to the
indemnifying party; (iii) the indemnifying party shall not have employed counsel reasonably
satisfactory to the indemnified party to represent the indemnified party within a reasonable time
after notice of the institution of such action; or (iv) the indemnifying party shall authorize the
indemnified party to employ separate counsel at the expense of the indemnifying party. It is
understood and agreed that the indemnifying party shall not, in connection with any proceeding or
related proceeding in the same jurisdiction, be liable for the reasonable fees and expenses of more
than one separate firm (in addition to any local counsel) for all indemnified parties. Any such
separate firm for any Underwriter, its directors, officers and Affiliates and any control person
shall be designated in writing by the Managers and any such separate firm for any of the Company,
its directors, officers and Affiliates and any control person shall be designated in writing by the
Company and any such
21
separate firm for the Selling Stockholders and any control person shall be designated in writing by the Selling
Stockholders. An indemnifying party will not, without the prior written consent of the indemnified
parties, settle or compromise or consent to the entry of any judgment with respect to any pending
or threatened claim, action, suit or proceeding in respect of which indemnification or contribution
may be sought hereunder (whether or not the indemnified parties are actual or potential parties to
such claim or action) unless such settlement, compromise or consent includes an unconditional
release of each indemnified party from all liability arising out of such claim, action, suit or
proceeding and does not include any statement as to, or any admission of, fault, culpability or
failure to act by or on behalf of any indemnified party.
(e) In the event that the indemnity provided in paragraph (a), (b) or (c) of this Section 11
is unavailable to or insufficient to hold harmless an indemnified party for any reason, the
Company, the Selling Stockholders and the Underwriters severally agree to contribute to the
aggregate losses, claims, damages and liabilities (including legal or other expenses reasonably
incurred in connection with investigating or defending any loss, claim, damage, liability or
action) (collectively, “Losses”) to which the Company, the Selling Stockholders and one or more of
the Underwriters may be subject in such proportion as is appropriate to reflect the relative
benefits received by the Company and the Selling Stockholders on the one hand and by the
Underwriters on the other from the offering of the Shares; provided, however, that
in no case shall any Underwriter be responsible for any amount in excess of the purchase discount
or commission applicable to the Shares purchased by such Underwriter hereunder. If the allocation
provided by the immediately preceding sentence is unavailable for any reason, the Company, the
Selling Stockholders and the Underwriters severally shall contribute in such proportion as is
appropriate to reflect not only such relative benefits but also the relative fault of the Company
and the Selling Stockholders on the one hand and the Underwriters on the other in connection with
the statements or omissions that resulted in such Losses, as well as any other relevant equitable
considerations. Benefits received by the Company and a Selling Stockholder shall be deemed to be
equal to the total net proceeds from the offering (before deducting expenses) received by the
Company or such Selling Stockholder, and benefits received by the Underwriters shall be deemed to
be equal to the total purchase discounts and commissions. Relative fault shall be determined by
reference to, among other things, whether any untrue or alleged untrue statement of a material fact
or the omission or alleged omission to state a material fact relates to information provided by the
Company or the Selling Stockholders on the one hand or the Underwriters on the other, the intent of
the parties and their relative knowledge, access to information and opportunity to correct or
prevent such untrue statement or omission and any other equitable considerations appropriate in the
circumstance. The Company, the Selling Stockholders and the Underwriters agree that it would not
be just and equitable if the amount of such contribution were determined by pro rata allocation or
any other method of allocation that does not take account of the equitable considerations referred
to above. Notwithstanding the provisions of this paragraph (e), no person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. The
Underwriters’ obligations to contribute pursuant to this Section 11 are several in proportion to
their respective obligations and not joint. The liabilities of each Selling Stockholder in this
paragraph (e) shall be limited to the amount equal to the net proceeds from the sale of the Shares
sold by such Selling Stockholder under the Agreement. For purposes of this Section 11, each person
who controls an Underwriter
22
within the meaning of either the Securities Act or the Exchange Act and each director,
officer, employee, Affiliate and agent of an Underwriter shall have the same rights to contribution
as such Underwriter, and each person who controls the Company within the meaning of either the
Securities Act or the Exchange Act and each officer and director of the Company shall have the same
rights to contribution as the Company and each person who controls a Selling Stockholder within the
meaning of either the Securities Act or the Exchange Act shall have the same rights to contribution
as such Selling Stockholder, subject in each case to the applicable terms and conditions of this
paragraph (e).
12. Default by an Underwriter. If any one or more Underwriters shall fail to purchase
and pay for any of the Shares agreed to be purchased by such Underwriter or Underwriters hereunder
and such failure to purchase shall constitute a default in the performance of its or their
obligations under this Agreement, the remaining Underwriters shall be obligated severally to take
up and pay for (in the respective proportions which the principal amount of Shares set forth
opposite their names in Schedule II hereto bears to the aggregate principal amount of Shares set
forth opposite the names of all the remaining Underwriters) the Shares which the defaulting
Underwriter or Underwriters agreed but failed to purchase; provided, however, that
in the event that the aggregate principal amount of Shares which the defaulting Underwriter or
Underwriters agreed but failed to purchase shall exceed 10% of the aggregate principal amount of
Shares set forth in Schedule II hereto, the Company and the Selling Stockholders shall be entitled
to a further period of 36 hours within which to procure another party or parties reasonably
satisfactory to the nondefaulting Underwriter or Underwriters to purchase no less than the amount
of such unpurchased Shares that exceeds 10% of the principal amount thereof upon such terms herein
set forth. If, however, the Company and the Selling Stockholders shall not have completed such
arrangements within 72 hours after such default and the principal amount of such unpurchased Shares
exceeds 10% of the principal amount of such Shares to be purchased on such date, then this
Agreement will terminate without liability to any nondefaulting Underwriter, the Company or the
Selling Stockholders. In the event of a default by any Underwriter as set forth in this Section
12, the Closing Date shall be postponed for such period, not exceeding five Business Days, as the
Underwriters, the Company, the Selling Stockholders and their respective counsel shall determine in
order that the required changes in the Time of Sale Prospectus, the Prospectus or in any other
documents or arrangements may be effected. Nothing contained in this Agreement shall relieve any
defaulting Underwriter of its liability, if any, to the Company or the Selling Stockholders or any
nondefaulting Underwriter for damages occasioned by its default hereunder.
13. Termination. This Agreement shall be subject to termination in the absolute
discretion and in the sole judgment of the Managers, by notice given to the Company prior to
delivery of and payment for the Shares, if at any time prior to such time (i) trading generally
shall have been suspended or materially limited on, or by, as the case may be, any of the New York
Stock Exchange or the Nasdaq National Market, (ii) trading of any securities of the Company shall
have been suspended on any exchange or in any over-the-counter market, (iii) a material disruption
in securities settlement, payment or clearance services in the United States shall have occurred,
(iv) any moratorium on commercial banking activities shall have been declared by Federal or New
York State authorities or (v) there shall have occurred any outbreak or escalation of hostilities,
or any change in financial markets or any calamity or crisis that, in
23
your sole judgment, is material and adverse and which, singly or together with any other event
specified in this clause (v), makes it, in your sole judgment, impracticable or inadvisable to
proceed with the offer, sale or delivery of the Shares on the terms and in the manner contemplated
in the Time of Sale Prospectus or the Prospectus (exclusive of any amendment or supplement
thereto).
14. Entire Agreement. (a) This Agreement, together with any contemporaneous written
agreements and any prior written agreements (to the extent not superseded by this Agreement) that
relate to the offering of the Shares, represents the entire agreement among the Company, the
Selling Stockholders and the Underwriters with respect to the preparation of any preliminary
prospectus, the Time of Sale Prospectus, the Prospectus, the conduct of the offering, and the
purchase and sale of the Shares.
(b) The Company and the Selling Stockholders acknowledge that in connection with the offering
of the Shares: (i) the Underwriters have acted at arm’s length from, are not agents of, and owe no
fiduciary duties to, the Company, the Selling Stockholders or any other person, (ii) the
Underwriters owe the Company and the Selling Stockholders only those duties and obligations set
forth in this Agreement and prior or contemporaneous written agreements (to the extent not
superseded by this Agreement), if any, and (iii) the Underwriters may have interests that differ
from those of the Company and the Selling Stockholders. The Company will not, and each Selling
Stockholder agrees that it will not, claim that the Underwriters, or any of them, has rendered
advisory services of any nature or respect, or owed or owes a fiduciary or similar duty to the
Company or any Selling Stockholder, in connection with such transaction or the process leading
thereto.
15. Representations and Indemnities to Survive. The respective agreements,
representations, warranties, indemnities and other statements of the Company, the Selling
Stockholders or their respective officers and of the Underwriters set forth in or made pursuant to
this Agreement will remain in full force and effect, regardless of any investigation made by or on
behalf of the Underwriters, the Company or the Selling Stockholders or any of the indemnified
persons referred to in Sections 11 hereof, and will survive delivery of and payment for the Shares.
The provisions of Sections 10 and 11 hereof shall survive the termination or cancellation of this
Agreement.
16. Notices. All communications hereunder will be in writing and effective only on
receipt, and, if sent to the Underwriters, will be mailed, delivered or telefaxed to the Xxxxxx
Xxxxxxx Global Capital Markets, attention of Xxxx Xxxxxx (fax no.: (000) 000-0000) and confirmed to
Xxxxxx Xxxxxxx at 0000 Xxxxxxxx, Xxx Xxxx, Xxx Xxxx 00000, attention of General Counsel; if sent to
the Company, will be mailed, delivered or telefaxed to (000) 000-0000 and confirmed to it at One
Infinity Xxxxxxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxx Xxxxxxx, Xxxx, 00000, attention of General
Counsel; if sent to Chart Holding, will be mailed, delivered or telefaxed to • and confirmed to it
at First Reserve Corporation, Xxx Xxxxxxxxx Xxxxx, Xxxxxxxxx, Xxxxxxxxxxx 00000; or if sent to a
Management Selling Stockholder, will be mailed, delivered or telefaxed to (000) 000-0000 and
confirmed to it at c/o Xxxxxxx X. Xxxxxx, One Infinity Xxxxxxxxx Xxxxxx Xxxxx, Xxxxx 000, Xxxxxxxx
Xxxxxxx, Xxxx, 00000, as attorney-in-fact.
24
17. Successors. This Agreement will inure to the benefit of and be binding upon the
parties hereto and their respective successors and the indemnified persons referred to in Sections
11 hereof and their respective successors, and no other person will have any right or obligation
hereunder. No purchaser of Shares from any Underwriters shall be deemed to be a successor merely
by reason of such purchase.
18. Applicable Law. This Agreement will be governed by and construed in accordance
with the laws of the State of New York applicable to contracts made and to be performed within the
State of New York. The parties hereto each hereby waive any right to trial by jury in any action,
proceeding or counterclaim arising out of or relating to this Agreement.
19. Counterparts. This Agreement may be signed in one or more counterparts (which may
be delivered in original form or telecopier), each of which when so executed shall constitute an
original and all of which together shall constitute one and the same agreement.
20. Headings. The section headings used herein are for convenience only and shall not
affect the construction hereof.
21. Definitions. The terms that follow, when used in this Agreement, shall have the
meanings indicated.
“Affiliate” shall have the meaning specified in Rule 501(b) of Regulation D.
“Business Day” shall mean any day other than a Saturday, a Sunday or a legal holiday or a day
on which banking institutions or trust companies are authorized or obligated by law to close in The
City of New York.
“Code” shall mean the Internal Revenue Code of 1986, as amended.
“Commission” shall mean the Securities and Exchange Commission.
“Exchange Act” shall mean the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder.
“Execution Time” shall mean the date and time that this Agreement is executed and delivered by
the parties hereto.
“Investment Company Act” shall mean the Investment Company Act of 1940, as amended, and the
rules and regulations of the Commission promulgated thereunder.
“NASD” shall mean the National Association of Securities Dealers, Inc.
“Regulation D” shall mean Regulation D under the Act.
“Securities Act” shall mean the Securities Act of 1933, as amended, and the rules and
regulations of the Commission promulgated thereunder.
25
If the foregoing is in accordance with your understanding of our agreement, please sign and
return to us the enclosed duplicate hereof, whereupon this letter and your acceptance shall
represent a binding agreement among the Company, the Selling Stockholders and the several
Underwriters.
Very truly yours, |
||||
CHART INDUSTRIES, INC. |
||||
By: | ||||
Name: | ||||
Title: |
||||
FR X CHART HOLDINGS LLC |
||||
By: | ||||
Name: | ||||
Title: |
||||
THE MANAGEMENT SELLING STOCKHOLDERS NAMED IN SCHEDULE I |
||||
By: | ||||
Name: | ||||
Title: Attorney-in-fact |
The foregoing Agreement is hereby
confirmed and accepted as of the
date first above written.
confirmed and accepted as of the
date first above written.
Xxxxxx Xxxxxxx & Co. Incorporated
Xxxxxxx, Sachs & Co.
Xxxxxx Brothers Inc.
Natexis Bleichroeder Inc.
Xxxxxxx & Company International
Xxxxxxx, Sachs & Co.
Xxxxxx Brothers Inc.
Natexis Bleichroeder Inc.
Xxxxxxx & Company International
By:
|
Xxxxxx Xxxxxxx & Co. Incorporated |
|
By: |
||
Name: | ||
Title: |
||
By:
|
Xxxxxxx, Sachs & Co. |
|
By: |
||
Xxxxxxx, Xxxxx & Co. |
||
By:
|
Xxxxxx Brothers Inc. |
|
By: |
||
Name: | ||
Title: |
For themselves and the other several
Underwriters named in Schedule I
to the foregoing Agreement.
Underwriters named in Schedule I
to the foregoing Agreement.
SCHEDULE I
List of Management Selling Stockholders
Xxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxx
Xxx Xxxxxxxx
Xxxxx X. Xxxxxx
Xxxxxx X. Xxxxx
Xxxxx Xxxxxxxx
Xxxxxxx X. Xxxxxxx
Xxxx Xxxxxxxxxxxx
Xxxx X. Xxxxxx
Xxxx X. Xxxxx
Xxxx X. Xxxxxxx
Xxxxxx X. Xxxx
Xxxxxxx X. Xxxx
Xxxxxxx X. Xxxxx
Xxx Xxxxxxxx
Xxxxx X. Xxxxxx
Xxxxxx X. Xxxxx
Xxxxx Xxxxxxxx
Xxxxxxx X. Xxxxxxx
Xxxx Xxxxxxxxxxxx
Xxxx X. Xxxxxx
Xxxx X. Xxxxx
Xxxx X. Xxxxxxx
Xxxxxx X. Xxxx
Xxxxxxx X. Xxxx
SCHEDULE II
Number of Firm Shares | ||||
Underwriter | To Be Purchased | |||
Xxxxxx Xxxxxxx & Co. Incorporated. |
||||
Xxxxxx Brothers Inc. |
||||
Xxxxxxx, Xxxxx & Co. |
||||
Natexis Bleichroeder Inc. |
||||
Xxxxxxx & Company International |
||||
Total: |
12,612,648 |
SCHEDULE III
Free Writing Prospectus or other Pricing Information
Free Writing Prospectus included in the Time of Sale Prospectus:
Pricing Information: Price to Public and Number of Shares
SCHEDULE IV
List of Significant Subsidiaries
Chart Inc.
Chart Energy & Chemicals, Inc.
Chart Biomedical Limited
Chart Ferox, a.s.
Chart Energy & Chemicals, Inc.
Chart Biomedical Limited
Chart Ferox, a.s.
SCHEDULE V
List of Persons Subject to Lock-Up Agreements
Xxxxxx X. Xxxxxx
Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxxx
Xxxxx X. Xxxxxx, Xx
Xxxxxxx X. Xxxxx
Xxxxxxx X. Day
Xxxxxx X. Xxxxxxx
Xxxxxxx X. Press
Xxxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxx, Xx. 2006 GRAT
Xxx Xxxxxxxx
Xxxxx X. Xxxxxx
Xxxxxx X. Xxxxx
Xxxxx Xxxxxxxx
Xxxxxxx Xxxxxxx
Xxxx Xxxxxxxxxxxx
Xxxx X. Xxxxxx
Xxxx X. Xxxxx
Xxxx X. Xxxxxxx
Xxxxxx X. Xxxx
Xxxxxxx X. Xxxx
Xxxxxxx X. Xxxxx
Xxxxxxx X. Xxxxxx
Xxxxx X. Xxxxxx, Xx
Xxxxxxx X. Xxxxx
Xxxxxxx X. Day
Xxxxxx X. Xxxxxxx
Xxxxxxx X. Press
Xxxxxxx X. Xxxxxxxx
Xxxxxx X. Xxxxxx, Xx. 2006 GRAT
Xxx Xxxxxxxx
Xxxxx X. Xxxxxx
Xxxxxx X. Xxxxx
Xxxxx Xxxxxxxx
Xxxxxxx Xxxxxxx
Xxxx Xxxxxxxxxxxx
Xxxx X. Xxxxxx
Xxxx X. Xxxxx
Xxxx X. Xxxxxxx
Xxxxxx X. Xxxx
Xxxxxxx X. Xxxx
SCHEDULE VI
EXHIBIT A
Form of Lock-up Letter
___________, 2007
Xxxxxx Xxxxxxx & Co. Incorporated
Xxxxxxx, Sachs & Co.
Xxxxxx Brothers Inc.
Natexis Bleichroeder Inc.
Xxxxxxx & Company International
Xxxxxxx, Sachs & Co.
Xxxxxx Brothers Inc.
Natexis Bleichroeder Inc.
Xxxxxxx & Company International
c/o Morgan Xxxxxxx & Co. Incorporated
0000 Xxxxxxxx
Xxx Xxxx, XX 00000
0000 Xxxxxxxx
Xxx Xxxx, XX 00000
Dear Sirs and Mesdames:
The undersigned understands that Xxxxxx Xxxxxxx & Co. Incorporated (“Xxxxxx Xxxxxxx”), Xxxxxx
Brothers Inc. (“Xxxxxx”) and Xxxxxxx, Xxxxx & Co. (“Goldman,” together with Xxxxxx Xxxxxxx and
Xxxxxx, the “Managers”) propose to enter into an Underwriting Agreement (the “Underwriting
Agreement”) with FR X Chart Holdings LLC, a Delaware limited liability company (“Chart Holdings”)
and the Individuals named in Schedule I to the Underwriting Agreement (“Management Stockholders”,
and together with Chart Holdings, the “Selling Stockholders”), providing for the public offering
(the “Public Offering”) by the several underwriters named in Schedule II to the Underwriting
Agreement (the “Underwriters”), of 12,612,648 shares (the “Shares”) of the Common Stock, par value
$0.01 (the “Common Stock”) of Chart Industries, Inc., a corporation organized under the laws of
Delaware (the “Company”).
To induce the Underwriters that may participate in the Public Offering to continue their
efforts in connection with the Public Offering, the undersigned hereby agrees that, without the
prior written consent of the Managers on behalf of the Underwriters, it will not, during the period
commencing on the date hereof and ending 90 days after the date of the final prospectus relating to
the Public Offering (the “Prospectus”), (1) offer, pledge, sell, contract to sell, sell any option
or contract to purchase, purchase any option or contract to sell, grant any option, right or
warrant to purchase, lend, or otherwise transfer or dispose of, directly or indirectly, any shares
of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock
or (2) enter into any swap or other arrangement that transfers to another, in whole or in part, any
of the economic consequences of ownership of Common Stock, whether any such transaction described
in clause (1) or (2) above is to be settled by delivery of Common Stock or such other securities,
in cash or otherwise. The foregoing sentence shall not apply to transactions relating to (A)
shares of Common Stock or other securities acquired in open market transactions after the
completion of the offering of the Shares; provided that no filing by any
party under the Exchange Act shall be required or shall be voluntarily made in connection with
subsequent sales of Common Stock or other securities acquired in such open market transactions, (B)
the exercise of such number of options or warrants outstanding on the date hereof to acquire shares
of Common Stock that will provide the undersigned with such number of shares of Common Stock, after
taking into account the number of shares of Common Stock owned by the undersigned, that is equal to
the number of shares of Common Stock the undersigned has undertaken to sell in accordance with the
terms of the Underwriting Agreement, (C) transfers of shares of Common Stock or any security
convertible, exchangeable for or exercisable into Common Stock as a bona fide gift or gifts as a
result of the operation of law or testate or intestate succession, (D) transfers by the undersigned
to a trust, partnership, limited liability company or other entity, all of the beneficial interests
of which are held, directly or indirectly, by the undersigned or his or her spouse or children, or
(E) distributions of shares of Common Stock or any security convertible, exchangeable for or
exercisable into Common Stock to limited partners or stockholders of the undersigned;
provided that in the case of any transfer or distribution pursuant to clause (C), (D) or
(E), (i) each donee or distributee shall sign and deliver a
lock-up letter substantially
in the form of this letter and (ii) the undersigned and recipient shall not be required to, and
shall not voluntarily, file a report under the Exchange Act, reporting a reduction in beneficial
ownership of shares of Common Stock during the restricted period referred to in the foregoing
sentence. In addition, the undersigned agrees that, without the prior written consent of the
Managers on behalf of the Underwriters, it will not, during the period commencing on the date
hereof and ending 90 days after the date of the Prospectus, make any demand for or exercise any
right with respect to, the registration of any shares of Common Stock or any security convertible
into or exercisable or exchangeable for Common Stock, unless the Managers have waived the lock-up
restrictions imposed on the Company in connection with the Public Offering. The undersigned also
agrees and consents to the entry of stop transfer instructions with the Company’s transfer agent
and registrar against the transfer of the undersigned’s shares of Common Stock except in compliance
with the foregoing restrictions.
It is understood that, if the Company and the Selling Stockholders notify the undersigned in
writing that they do not intend to proceed with the Public Offering, if the Underwriting Agreement
does not become effective on or before August 31, 2007, or if the Underwriting Agreement (other
than the provisions thereof that survive termination) shall terminate or be terminated prior to
payment for and delivery of the Shares, the undersigned will be released from the obligations under
this agreement.
The undersigned understands that the Company, the Selling Stockholders and the Underwriters
are relying upon this agreement in proceeding toward consummation of the Public Offering. The
undersigned further understands that this agreement is irrevocable and shall be binding upon the
undersigned’s heirs, legal representatives, successors and assigns.
Whether or not the Public Offering actually occurs depends on a number of factors, including
market conditions. Any Public Offering will only be made pursuant to an Underwriting Agreement,
the terms of which are subject to negotiation among the Company, the Selling Stockholders, and the
Underwriters.
Very truly yours, |
||
(Name) |
||
(Address) |