STOCKHOLDER TENDER AGREEMENT
Exhibit 99.3
STOCKHOLDER TENDER AGREEMENT (this “Agreement”), dated as of September 2, 2010 is by
and between Burger King Holdings, Inc., a Delaware corporation (the “Company”), and the
stockholders listed on the signature pages hereto (each a “Stockholder”).
WHEREAS, each Stockholder is, as of the date hereof, the record and/or beneficial owner (as
defined in Rule 13d-3 under the Securities Exchange Act of 1934, as amended (the “Exchange
Act”), which meaning will apply for all purposes of this Agreement) of the number of shares of
Common Stock, par value $0.01 (the “Company Common Stock”), set forth opposite the name of
such Stockholder on Schedule I hereto;
WHEREAS, concurrently with the execution and delivery of this Agreement, the Company is
entering into an Agreement and Plan of Merger, in the form attached hereto as Exhibit A (the
“Merger Agreement”) with Blue Acquisition Holding Corporation, a Delaware corporation
(“Parent”), Blue Acquisition Sub, Inc., a Delaware corporation and a wholly owned
subsidiary of Parent (“Merger Sub”), that provides, among other things, for Merger Sub to
commence a cash tender offer for all of the issued and outstanding shares of Company Common Stock
(the “Offer”) and, regardless of whether the Offer is consummated, the merger of Merger
Sub with and into the Company (the “Merger”) upon the terms and subject to the conditions
set forth in the Merger Agreement (capitalized terms used herein without definition shall have the
respective meanings specified in the Merger Agreement); and
WHEREAS, as a condition to the willingness of the Company, Parent and Merger Sub to enter
into the Merger Agreement and as an inducement and in consideration therefor, each Stockholder has
agreed to enter into this Agreement.
NOW, THEREFORE, in consideration of the foregoing and the mutual covenants and agreements set
forth herein and in the Merger Agreement, and intending to be legally bound hereby, the parties
hereto agree as follows:
SECTION 1. Representations and Warranties of Stockholder. Each Stockholder
hereby represents and warrants to the Company as follows:
(a) Such Stockholder (i) is the record and/or beneficial owner of the shares of Company
Common Stock (together with any shares of Company Common Stock that such Stockholder may acquire
at any time in the future during the term of this Agreement, the “Shares”) set forth
opposite such Stockholder’s name on Schedule I to this Agreement and (ii) neither holds nor has
any beneficial ownership interest in any other shares of Company Common Stock except for the
Shares set forth on Schedule I to this Agreement or any performance based stock units, restricted
stock, deferred stock units, option (including any granted pursuant to a Company Stock Plan), or
warrants to acquire shares of Company Common Stock or other right or security convertible into or
exercisable or exchangeable for shares of Company Common Stock.
(b) Such Stockholder has the legal capacity to execute and deliver this Agreement and
to consummate the transactions contemplated hereby.
(c) This Agreement has been validly executed and delivered by such Stockholder and,
assuming this Agreement constitutes a valid and binding obligation of the Company, constitutes the
valid and binding obligation of such Stockholder, enforceable against such Stockholder in
accordance with its terms, except (i) as limited by applicable bankruptcy, insolvency,
reorganization, moratorium, fraudulent conveyance and other laws of general application affecting
enforcement of creditors’ rights generally, and (ii) that the availability of the remedy of
specific performance or injunctive or other forms of equitable relief may be subject to equitable
defenses and would be subject to the discretion of the court before which any proceeding therefor
may be brought.
(d) Neither the execution and delivery of this Agreement nor the consummation by such
Stockholder of the transactions contemplated hereby will result in a violation of, or a default
under, or conflict with, any contract, trust, commitment, agreement, understanding, arrangement or
restriction of any kind to which Stockholder is a party or by which Stockholder or Stockholder’s
assets are bound, other than the Amended and Restated Shareholders’ Agreement, dated as of May 17,
2006, by and among the parties listed therein (the “Amended and Restated Shareholders’
Agreement”). The consummation by such Stockholder of the transactions contemplated by this
Agreement will not (i) violate any provision of any judgment, order or decree applicable to such
Stockholder or (ii) require any consent, approval, or notice under any statute, law, rule or
regulation applicable to Stockholder other than (x) as required under the Exchange Act and the
rules and regulations promulgated thereunder and (y) where the failure to obtain such consents or
approvals or to make such notifications, would not, individually or in the aggregate, prevent or
materially delay the performance by Stockholder of any of its obligations under this Agreement.
(e) The Shares and the certificates, if any, representing the
Shares owned by such Stockholder are now, and at all times during the term hereof will be, held by
such Stockholder, by a nominee or custodian for the benefit of such Stockholder or by the Paying
Agent for the Offer, free and clear of all liens, claims, security interests, proxies, voting
trusts or agreements, options, rights (other than community property interests), understandings or
arrangements or any other encumbrance or restriction whatsoever on title, transfer, or exercise of
any rights of a Stockholder in respect of such Shares (collectively, “Encumbrances”),
except for (i) any such Encumbrances arising hereunder (in connection therewith any restrictions on
transfer or any other Encumbrances have been waived by appropriate consent), (ii) any rights,
agreements, understandings or arrangements that represent solely a financial interest in cash
received upon sale of the Shares, (iii) any rights, agreements, understandings or arrangements by
and among the Stockholders and (iv) Encumbrances imposed by federal or state securities laws
(collectively, “Permitted Encumbrances”).
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(f) Such Stockholder understands and acknowledges that the Company, Parent and Merger
Sub are entering into the Merger Agreement in reliance upon Stockholder’s execution and
delivery of this Agreement.
(g) No broker, investment bank, financial advisor or other person is entitled to any
broker’s, finder’s, financial adviser’s or similar fee or commission in connection with the
transactions contemplated hereby based upon arrangements made by or on behalf of such Stockholder
(except for fees payable by the Company to Xxxxxx Xxxxxxx & Co. Incorporated and Xxxxxxx, Sachs &
Co. as advisors to the Company).
SECTION 2. Representations and Warranties of the Company. The Company hereby
represents and warrants to each Stockholder as follows:
(a) The Company is a corporation duly organized, validly
existing and in good standing under the laws of the State of Delaware, and the Company has all
requisite corporate power and authority to execute and deliver this Agreement and the Merger
Agreement and to consummate the transactions contemplated hereby and thereby, and has taken all
necessary corporate action to authorize the execution, delivery and performance of this Agreement
and the Merger Agreement.
(b) This Agreement and the Merger Agreement have been duly authorized, executed and
delivered by the Company, and constitutes the valid and binding obligations of the Company,
enforceable against it in accordance with their terms, except (i) as limited by applicable
bankruptcy, insolvency, reorganization, fraudulent conveyance, moratorium and other laws of
general application affecting enforcement of creditors’ rights generally and (ii) the availability
of the remedy of specific performance or injunctive or other forms of equitable relief may be
subject to equitable defenses and would be subject to the discretion of the court before which any
proceeding therefor may be brought.
(c) Neither the execution and delivery of this Agreement or the Merger Agreement by the
Company nor the consummation by the Company of the transactions contemplated hereby or thereby
will result in a violation of, or a default under, any contract, trust, commitment, agreement,
understanding, arrangement or restriction of any kind to which the Company is a party or by which
the Company or its assets are bound. The consummation by the Company of the transactions
contemplated by this Agreement will not (i) violate any provision of any judgment, order or
decree applicable to the Company or (ii) require any consent, approval, order, authorization or
permit of, or declaration, registration, filing with, or notification to, any Governmental
Authority, except for (w) applicable requirements, if any, of (A) the Exchange Act, including,
without limitation, the filing with the SEC of the Schedule TO, (B) the General Corporation Law
of the State of Delaware (“DGCL”) and (C) the
New York Stock Exchange (“NYSE”), (x) those
required by the HSR Act, (y) the filing of customary applications and notices, as applicable with
any regulatory authority, and (z) where the failure to obtain such consents or approvals or to
make such notifications, would not, individually or in the aggregate, prevent or materially delay
the performance by the Company of any of its obligations under this Agreement and the Merger
Agreement.
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SECTION 3. Tender of the Shares.
(a) Unless the Offer is terminated or withdrawn by Merger Sub or the Merger Agreement is
terminated in accordance with its terms, each Stockholder hereby agrees that it shall irrevocably,
subject to the terms of this Agreement, tender (and deliver any certificates evidencing) its
Shares, or cause its Shares to be irrevocably, subject to the terms of this Agreement, tendered,
into the Offer promptly following, and in any event no later than the tenth (10th) business day
following the commencement of the Offer pursuant to Section 1.01 of the Merger Agreement in
accordance with the procedures set forth in the Offer Documents, free and clear of all Encumbrances
(other than Permitted Encumbrances); provided, that the Company agrees that each
Stockholder may withdraw its Shares from the Offer at any time following the termination of this
Agreement or as otherwise provided pursuant to this Section 3 or Section 8 hereof.
(b) Each Stockholder agrees that once the Shares are tendered
into the Offer, Stockholder will not withdraw any Shares from the Offer unless and until (i) the
Offer shall have been terminated in accordance with the terms of the Merger Agreement or the Merger
Agreement is terminated in accordance with its terms or (ii) this Agreement shall have been
terminated in accordance with Section 8.
(c) Each Stockholder hereby waives, on its own behalf on behalf of any recordholder of any
of the Shares, any rights of appraisal or rights to dissent from the Merger that Stockholder or any
such recordholder may have under Section 262 of the DGCL, and hereby agrees not to assert any such
rights of appraisal or dissent.
SECTION 4. Transfer of the Shares; Other Actions.
(a) Each Stockholder hereby waives and agrees not to assert any right to limit or restrict
the transfer of Company Common Stock by any other stockholder in the Offer or the Merger pursuant
to Section 4.1 of the Amended and Restated Shareholders’ Agreement. If requested by the Company,
each Stockholder shall take all actions within its power to terminate the Amended and Restated
Shareholders’ Agreement upon consummation of the Offer, unless such agreement shall have earlier
terminated pursuant to its terms.
(b) Prior to the termination of this Agreement, except as
otherwise provided herein or in the Merger Agreement, each Stockholder shall not: (i) transfer,
assign, sell, gift-over, hedge, pledge or otherwise dispose (whether by sale, liquidation,
dissolution, dividend or distribution) of, enter into any derivative arrangement with respect to,
create or suffer to exist any Encumbrances (other than Permitted Encumbrances) on or consent to any
of the foregoing (“Transfer”), any or all of the Shares or any right or interest therein;
(ii) enter into any contract, option or other agreement, arrangement or understanding with respect
to any Transfer; (iii) grant any proxy, power-of-attorney or other authorization or consent with
respect to any of the Shares with respect to any matter that is, or that is reasonably likely to be
exercised in a manner, inconsistent with the transactions contemplated by the Merger Agreement or
the provisions thereof; (iv) deposit any of the Shares into a voting trust, or enter into a voting
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agreement or arrangement with respect to any of the Shares; or (v) knowingly, directly or
indirectly, take or cause the taking of any other action that would restrict, limit or interfere
with the performance of such Stockholder’s obligations hereunder or the transactions contemplated
hereby, excluding any bankruptcy filing.
(c) Each Stockholder agrees that it shall not become a member of a “group” (as that term
is used in Section 13(d) of the Exchange Act) (other than with the parties to the Amended and
Restated Shareholders’ Agreement) with respect to any shares of Company Common Stock, Company
Stock Options, Company Equity Awards or any other voting securities of the Company for the purpose
of opposing or competing with or taking any actions inconsistent with the transactions
contemplated by the Merger Agreement; provided, however, this Section 4(c) shall not apply if (i)
the Merger Agreement is terminated in accordance with its terms prior to the purchase of the
Shares in the Offer or (ii) this Agreement shall have been terminated in accordance with Section
8.
(d) Notwithstanding the foregoing, each Stockholder may make (i) Transfers of Shares by
will or by operation of law or other transfers for estate planning purposes, (ii) Transfers of
Shares to an Affiliate, in each of (i) and (ii), such transferee shall agree in writing to be
bound by this Agreement prior to the consummation of any such Transfer, and (iii) as the Company
may otherwise agree in writing in its sole discretion.
(e) Upon receipt of payment in full for all of its Shares pursuant to the Merger
Agreement, each Stockholder agrees that any and all rights incident to its ownership of Shares
(including any rights to recover amounts, if any, that maybe determined to be due to any
stockholder or former stockholders of the Company), including but not limited to rights arising
out of such Stockholder’s ownership of Shares prior to the transfer of such Shares to Merger Sub
or Parent pursuant to the Offer or the Merger Agreement, shall be transferred to Merger Sub and
Parent upon the transfer to Merger Sub or Parent of such Stockholder’s Shares.
SECTION 5. Voting Agreement. If requested by Parent, Stockholder will execute a
customary voting agreement with Parent to vote the maximum number of shares of Company Common Stock
beneficially owned in support of the Merger without causing a “Change of Control” (as defined in
the Amended and Restated Credit Agreement, dated as of February 15, 2006, by and among the parties
listed therein (the “Credit Agreement”)) under the Credit Agreement.
SECTION 6. Directors and Officers. This Agreement shall apply to each
Stockholder solely in such Stockholder’s capacity as a holder of Company Common Stock, and not to
any Stockholder or any representative of a Stockholder serving as a director of the Company in such
capacity or in any other capacity.
SECTION 7. Further Assurances. Each party shall execute and deliver any additional
documents and take such further actions as may be reasonably necessary or desirable to carry out
all of the provisions hereof, including all of the parties’ obligations
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under this Agreement, including without limitation to vest in Parent the power to vote the Shares
to the extent contemplated by Section 5 hereof.
SECTION 8. Termination.
(a) This Agreement, and all rights and obligations of the parties hereunder, shall
terminate immediately upon the earliest to occur of the following:
(i) termination of the Merger Agreement in accordance with its terms;
(ii) the Effective Time; or
(iii) the mutual written consent of the Company and the Stockholders.
(b) The Stockholders shall have the right to terminate this
Agreement following (i) any decrease in the price per share of Common Stock payable in the Offer;
(ii) any change in the form of consideration payable in the Offer; or (iii) any extension of the
term of the Offer beyond the Outside Date.
(c) Upon termination of this Agreement, except in the case of liability for any willful
breach by any party to this Agreement prior to termination from which liability termination shall
not relieve any such party, (i) all obligations of the parties under this Agreement will
terminate, without any liability or other obligation on the part of any party hereto to any
Person in respect hereof or the transactions contemplated hereby, and no party shall have any
claim against another (and no person shall have any rights against such party), whether under
contract, tort or otherwise, and (ii) each Stockholder shall be permitted to withdraw, and shall
be deemed to have validly and timely withdrawn, their Shares pursuant to the Offer, provided
however, that the termination of this Agreement shall not relieve any party from liability from
any willful breach prior to such termination.
(d) Sections 9 and 12(e) hereof shall survive the termination of this Agreement.
SECTION 9. Expenses. All fees and expenses incurred in connection with this
Agreement and the transactions contemplated hereby shall be paid by the party incurring such fees
or expenses, whether or not the Offer or the Merger is consummated.
SECTION 10. Public Announcements. Each Stockholder (in its capacity as a
stockholder of the Company and/or signatory to this Agreement) shall not, nor shall it permit any
of its Representatives to, make any public announcement regarding this Agreement and the
transactions contemplated hereby, except (x) with the prior written consent of the Company, (y) as
required for a Stockholder to comply with its obligations under the Exchange Act (including, but
not limited to, the filing of an amendment to the Form 4 and/or Schedule 13-G previously filed with
the SEC by the Stockholders), the Bank Holding Company Act or rules of the NYSE or (z) as required
by the SEC or any
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Governmental Authority. Each Stockholder (i) consents to and authorizes the publication and
disclosure by the Company, Parent or Merger Sub and their its Affiliates of its identity and
holding of the Shares and the nature of its commitments and obligations under this Agreement in any
announcement or disclosure required by the SEC or other Governmental Authority in connection with
the Offer, or in any other disclosure document in connection with the Offer, the Merger or in any
of the other transactions contemplated by the Merger Agreement or this Agreement, and (ii) agrees
promptly to give to the Company, Parent or Merger Sub any information it may reasonably require for
the preparation of any such disclosure documents; provided, that the Stockholders shall
have a reasonable opportunity to review and comment on any such announcement or disclosure prior to
its publication, filing or disclosure. Stockholder agrees to promptly notify the Company, Parent
and Merger Sub of any required corrections with respect to any written information supplied by it
specifically for use in any such disclosure document, if and to the extent that any shall have
become false or misleading in any material respect.
SECTION 11. Adjustments. In the event of (a) any stock dividend, stock split,
merger, recapitalization, reclassification, combination, exchange of shares or the like of the
capital stock of the Company on, of or affecting the Shares or (b) that any Stockholder shall
become the beneficial owner of any additional shares of Company Common Stock, then the terms of
this Agreement shall apply to the shares of Company Common Stock held by such Stockholder
immediately following the effectiveness of the events described in clause (a) or such Stockholder
becoming the beneficial owner thereof as described in clause (b), as though, in either case, they
were Shares hereunder. In the event that Stockholder shall become the beneficial owner of any other
securities entitling the holder thereof to vote or give consent with respect to the matters set
forth in Section 5 hereof, then the terms of Section 5 hereof shall apply to such other securities
as though they were Shares hereunder.
SECTION 12. Miscellaneous.
(a) Other Activities. Notwithstanding anything to the contrary in this Agreement,
nothing herein shall in any way limit a Stockholder or any affiliate of a Stockholder from
engaging in any brokerage, investment advisory, financial advisory, anti-raid advisory, principal
investing, merger advisory, financing, asset management, trading, market making, arbitrage,
investment activity and other similar activities conducted in the ordinary course of their
business.
(b) Notices. All notices, requests, claims, demands and other communications
under this Agreement shall be in writing and shall be deemed given if delivered personally, sent
via electronic mail (receipt confirmed), facsimile (receipt confirmed) or sent by a nationally
recognized overnight courier (providing proof of delivery) to the parties at the following
addresses (or at such other address for a party as shall be specified by like notice):
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If to Stockholders, to:
TPG BK Holdco LLC
000 Xxxxxxxx Xxxxxx, Xxxxx 0000
Xxxx Xxxxx, XX 00000
Fax No.: (000) 000-0000
Attention: Xxxxxx Xxxx
000 Xxxxxxxx Xxxxxx, Xxxxx 0000
Xxxx Xxxxx, XX 00000
Fax No.: (000) 000-0000
Attention: Xxxxxx Xxxx
If to the Company, to:
Burger King Holdings, Inc.
0000 Xxxx Xxxxxx Xxxxx
Xxxxx, Xxxxxxx 00000
Fax No.: (000) 000-0000
Attention: Xxxx Xxxxx
0000 Xxxx Xxxxxx Xxxxx
Xxxxx, Xxxxxxx 00000
Fax No.: (000) 000-0000
Attention: Xxxx Xxxxx
with a copy (which shall not constitute notice) to:
Skadden, Arps, Slate, Xxxxxxx & Xxxx LLP
Xxxx Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Attention: Xxxxxx X. Xxxxxx, Esq.
Xxxx Xxxxx Xxxxxx
Xxx Xxxx, Xxx Xxxx 00000
Telephone: (000) 000-0000
Facsimile: (000) 000-0000
Attention: Xxxxxx X. Xxxxxx, Esq.
Xxxxxxx X. Xxxxxxxx, Esq.
Xxxxxx Xxxxxxxxx, Esq.
Xxxxxx Xxxxxxxxx, Esq.
and
Holland & Knight LLP
000 Xxxxxxxx Xxxxxx
Xxxxx 0000
Xxxxx, Xxxxxxx 00000
Fax No.: (000) 000-0000
Attention: Xxxx XxxXxxxxxxx, Esq.
000 Xxxxxxxx Xxxxxx
Xxxxx 0000
Xxxxx, Xxxxxxx 00000
Fax No.: (000) 000-0000
Attention: Xxxx XxxXxxxxxxx, Esq.
(c) Headings. The headings contained in this Agreement are for reference purposes
only and shall not affect in any way the meaning or interpretation of this Agreement.
(d) Counterparts. This Agreement may be executed in two or
more counterparts, all of which shall be considered one and the same agreement and shall become
effective when one or more counterparts have been signed by each of the parties and delivered to
the other parties.
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(e) Entire Agreement, Third-Party Beneficiaries.
This
Agreement constitutes the entire agreement, and supersedes all prior agreements and understandings,
both written and oral, among the parties with respect to the subject matter of this Agreement and
(b) is not intended to confer, nor shall it confer, upon any Person other than the parties hereto
any rights or remedies or benefits of any nature whatsoever; provided, that the Company and
Stockholder acknowledge and agree that Parent and Merger Sub shall each be a third party
beneficiary only with respect to Section 3, Section 4 and Section 5 of this Agreement.
(f) Governing Law, Jurisdiction. This Agreement shall be
governed in all respects, including validity, interpretations and effect, by the laws of the State
of Delaware applicable to contracts executed and to be performed wholly within such state without
giving effect to the choice of law principles of such state.
(g) Waiver of Jury Trial. THE COMPANY AND EACH
STOCKHOLDER HEREBY IRREVOCABLY WAIVE ALL RIGHT TO TRIAL BY JURY IN ANY ACTION, PROCEEDING OR
COUNTERCLAIM (WHETHER BASED ON CONTRACT, TORT OR OTHERWISE) ARISING OUT OF OR RELATING TO THIS
AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREBY OR THE ACTIONS OF THE COMPANY OR STOCKHOLDER IN
THE NEGOTIATION, ADMINISTRATION, PERFORMANCE AND ENFORCEMENT OF THIS AGREEMENT. EACH PARTY
CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS
REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION,
SEEK TO ENFORCE EITHER OF SUCH WAIVERS, (B) IT UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF
SUCH WAIVERS, (C) IT MAKES SUCH WAIVERS VOLUNTARILY, AND (D) IT HAS BEEN INDUCED TO ENTER INTO THIS
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 12(g).
(h) Assignment. Prior to the earlier to occur of (i) the termination of the Merger
Agreement in accordance with its terms or (ii) the consummation of the Merger, neither this
Agreement nor any of the rights, interests or obligations under this Agreement shall be assigned,
in whole or in part, by operation of law or otherwise by any of the parties hereto without the
prior written consent of the other parties, except that the Company may assign, in its sole
discretion and without the consent of any other party, any or all of its rights, interests and
obligations hereunder to one or more affiliates of the Company, and any such assignee may
thereafter assign, in its sole discretion and without the consent of any other party, any or all of
its rights, interests and obligations hereunder to one or more additional affiliates of the
Company; provided, that no such assignment shall relieve the Company of any of its
obligations under this Agreement. Any assignment in violation of the preceding sentence shall be
void. Subject to the preceding two sentences, this Agreement will be binding upon, inure to the
benefit of, and be enforceable by, the parties and their respective successors and assigns.
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(i) Severability of Provisions. If any term or other provision of this Agreement
is invalid, illegal or incapable of being enforced by any rule of law or public policy, all other
conditions and provisions of this Agreement shall nevertheless remain in full force and effect,
insofar as the foregoing can be accomplished without materially affecting the economic benefits
anticipated by the parties to this Agreement. Upon such determination that any term or other
provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in
good faith to modify this Agreement so as to effect the original intent of the parties as closely
as possible to the fullest extent permitted by applicable Law in an acceptable manner to the end
that the transactions contemplated hereby are fulfilled to the extent possible.
(j) Specific Performance. The parties agree that irreparable
damage would occur and that the parties would not have any adequate remedy at law in the event that
any of the provisions of this Agreement were not performed in accordance with their specific terms
or were otherwise breached. It is accordingly agreed that the parties shall be entitled to an
injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions of this Agreement in any federal court located in the State of Delaware or in
Delaware state court, this being in addition to any other remedy to which they are entitled at law
or in equity.
(k) Amendment. No amendment or modification of this
Agreement shall be effective unless it shall be in writing and signed by each of the parties
hereto, and no waiver or consent hereunder shall be effective against any party unless it shall be
in writing and signed by such party.
(1) Binding Nature. This Agreement is binding upon and is solely for the
benefit of the parties hereto and their respective successors, legal representatives and
assigns.
(m) No Recourse. The Company agrees that no Stockholder (in its capacity as a
stockholder of the Company) will be liable for claims, losses, damages, liabilities or other
obligations resulting from or related to the Merger Agreement or the Offer, including the Company’s
breach of the Merger Agreement.
(n) No Ownership Interest. Except as otherwise provided herein, nothing contained
in this Agreement shall be deemed to vest in the Company any direct or indirect ownership or
incidence of ownership of or with respect to the Shares. All rights, ownership and economic
benefits of and relating to the Shares shall remain vested in and belong to Stockholder, and the
Company shall not have authority to exercise any power or authority to direct Stockholder in the
voting of any of the Shares.
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IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly executed
and delivered as of the date first written above.
TPG BK HOLDCO LLC |
||||
By: | /s/ Xxxxxx Xxxx | |||
Name: | Xxxxxx Cami | |||
Title: | Vice President | |||
[Signature Page to Stockholder Tender Agreement — TPG]
IN WITNESS WHEREOF, each of the parties hereto has caused this Agreement to be duly
executed and delivered as of the date first written above.
BURGER KING HOLDINGS, INC. |
||||
By: | /s/ Xxxx Xxxxx | |||
Name: | Xxxx Xxxxx | |||
Title: | General Counsel | |||
[Signature Page to Stockholder Tender Agreement — TPG]
SCHEDULE I
Company | ||||
Common | ||||
Name and Address | Stock | |||
TPG BK
Holdco LLC 000 Xxxxxxxx Xxxxxx, Xxxxx 0000 Xxxx Xxxxx, XX 00000 |
15,131,497 | |||
Total |
15,131,497 |