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Full Doc  | 2003 |
Separation Agreement
Separation Agreement (141K)
Doc #113636: Click preview link for longer preview.
SEPARATION AGREEMENT
BETWEEN
CENTERPOINT ENERGY, INC.
AND
TEXAS GENCO HOLDINGS, INC.
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I DEFINITIONS....................................................................................... 2
1.1 Action.................................................................................. 2
1.2 Affiliates.............................................................................. 2
1.3 Ancillary Agreements.................................................................... 2
1.4 Business................................................................................ 2
1.5 Business Day............................................................................ 2
1.6 Business Separation Plan................................................................ 2
1.7 CenterPoint's Auditors.................................................................. 2
1.8 CenterPoint Business.................................................................... 2
1.9 CenterPoint Field of Use................................................................ 3
1.10 CenterPoint Group....................................................................... 3
1.11 CenterPoint Indemnitees................................................................. 3
1.12 CenterPoint Intellectual Property....................................................... 3
1.13 Code.................................................................................... 3
1.14 Commission.............................................................................. 3
1.15 Distribution Shares..................................................................... 3
1.16 Exchange Act............................................................................ 3
1.17 Final Order............................................................................. 3
1.18 Genco Assets............................................................................ 3
1.19 Genco Auditors.......................................................................... 3
1.20 Genco Balance Sheet..................................................................... 3
1.21 Genco Business.......................................................................... 4
1.22 Genco Common Stock...................................................................... 4
1.23 Genco Debt Obligations.................................................................. 4
1.24 Genco Distribution Agent................................................................ 4
1.25 Genco Distribution Date................................................................. 4
1.26 Genco Excluded Liabilities.............................................................. 4
1.27 Genco Group............................................................................. 4
1.28 Genco Indemnitees....................................................................... 4
1.29 Genco Intellectual Property............................................................. 4
1.30 Genco Liabilities....................................................................... 4
1.31 Genco LP................................................................................ 5
1.32 Genco Option............................................................................ 5
1.33 Genco Option Agreement.................................................................. 5
1.34 Genco Option Agreement Undertaking...................................................... 5
1.35 Genco Separation Date................................................................... 5
1.36 Genco Tax Allocation Agreement.......................................................... 5
1.37 Genco Transition Services Agreement..................................................... 5
1.38 Governmental Approvals.................................................................. 6
1.39 Governmental Authority.................................................................. 6
1.40 Holding Company Restructuring........................................................... 6
1.41 Indebtedness............................................................................ 6
1.42 Indemnifying Party...................................................................... 6
{/TABLE}
{PAGE}
{TABLE}
{S} {C}
1.43 Indemnitee.............................................................................. 6
1.44 Indemnity Payment....................................................................... 6
1.45 Information............................................................................. 6
1.46 Insurance Proceeds...................................................................... 6
1.47 Intellectual Property................................................................... 7
1.48 Liabilities............................................................................. 7
1.49 Losses.................................................................................. 7
1.50 Master Separation Agreement............................................................. 7
1.51 NYSE.................................................................................... 7
1.52 Person.................................................................................. 7
1.53 PUCT.................................................................................... 7
1.54 Record Date............................................................................. 7
1.55 Regulatory Proceedings.................................................................. 8
1.56 REI..................................................................................... 8
1.57 Resources............................................................................... 8
1.58 Subsidiary.............................................................................. 8
1.59 Taxes................................................................................... 8
1.60 Technical Services Agreement............................................................ 8
1.61 Technical Services Assignment and Assumption Agreement.................................. 8
1.62 Third Party Claim....................................................................... 8
1.63 Utilities Code.......................................................................... 8
ARTICLE II THE GENCO DISTRIBUTION AND THE ACTIONS PENDING................................................... 9
2.1 Delivery of Shares for Genco Distribution............................................... 9
2.2 Actions Prior to the Genco Distribution................................................. 9
2.3 Conditions Precedent to the Genco Distribution.......................................... 9
2.4 Cooperation............................................................................ 10
2.5 Fractional Shares...................................................................... 10
ARTICLE III MUTUAL RELEASES; INDEMNIFICATION............................................................... 11
3.1 Release of Pre-Distribution Claims..................................................... 11
3.2 Indemnification by Genco............................................................... 13
3.3 Indemnification by CenterPoint......................................................... 13
3.4 Indemnification Obligations Net of Insurance Proceeds and Other Amounts................ 14
3.5 Procedures for Indemnification of Third Party Claims................................... 15
3.6 Additional Matters..................................................................... 16
3.7 Remedies Cumulative.................................................................... 16
3.8 Survival of Indemnities................................................................ 16
3.9 Indemnification of Directors and Officers.............................................. 17
ARTICLE IV CORPORATE GOVERNANCE AND CERTAIN OTHER MATTERS.................................................. 17
4.1 Charter, Bylaws and Board of Directors of Genco........................................ 17
4.2 Issuance of Stock...................................................................... 17
ARTICLE V INTELLECTUAL PROPERTY............................................................................ 17
{/TABLE}
ii
{PAGE}
{TABLE}
{S} {C}
5.1 Assignment............................................................................. 17
5.2 License Grants......................................................................... 17
5.3 Cooperation and Further Undertakings................................................... 18
5.4 CenterPoint Disclaimer of Warranties................................................... 18
5.5 Genco Disclaimer of Warranties......................................................... 18
ARTICLE VI ENVIRONMENTAL MATTERS........................................................................... 18
6.1 Definitions............................................................................ 18
6.2 Environmental Liabilities.............................................................. 20
6.3 Genco Excluded Liabilities............................................................. 20
6.4 Genco Liabilities...................................................................... 20
6.5 Post-Separation Date Environmental Arrangements........................................ 20
ARTICLE VII ARBITRATION; DISPUTE RESOLUTION................................................................ 21
7.1 Agreement to Arbitrate................................................................. 21
7.2 Escalation............................................................................. 21
7.3 Demand for Arbitration................................................................. 22
7.4 Arbitrators............................................................................ 22
7.5 Hearings............................................................................... 23
7.6 Discovery and Certain Other Matters.................................................... 24
7.7 Certain Additional Matters............................................................. 24
7.8 Continuity of Service and Performance.................................................. 25
7.9 Law Governing Arbitration Procedures................................................... 25
ARTICLE VIII COVENANTS AND OTHER MATTERS................................................................... 25
8.1 Other Agreements....................................................................... 25
8.2 Agreement for Exchange of Information.................................................. 26
8.3 Auditors and Audits; Annual and Quarterly Statements and Accounting.................... 27
8.4 Audit Rights........................................................................... 29
8.5 Preservation of Legal Privileges....................................................... 29
8.6 Payment of Expenses.................................................................... 30
8.7 Governmental Approvals................................................................. 30
8.8 Regulatory Proceedings................................................................. 30
8.9 Continuance of CenterPoint Credit Support; Borrowings.................................. 31
8.10 [Reserved Section]..................................................................... 32
8.11 Confidentiality........................................................................ 32
8.12 Capacity Auctions...................................................................... 33
8.13 Nuclear Decommissioning Trust and Investment........................................... 33
ARTICLE IX MISCELLANEOUS................................................................................... 33
9.1 Limitation of Liability................................................................ 33
9.2 Entire Agreement....................................................................... 34
9.3 Governing Law.......................................................................... 34
9.4 Termination............................................................................ 34
9.5 Notices................................................................................ 34
{/TABLE}
iii
{PAGE}
{TABLE}
{S} {C}
9.6 Counterparts........................................................................... 34
9.7 Binding Effect; Assignment............................................................. 34
9.8 Severability........................................................................... 34
9.9 Failure or Indulgence Not Waiver; Remedies Cumulative.................................. 35
9.10 Amendment.............................................................................. 35
9.11 Authority.............................................................................. 35
9.12 Interpretation......................................................................... 35
9.13 Conflicting Agreements................................................................. 35
{/TABLE}
iv
{PAGE}
SEPARATION AGREEMENT
THIS SEPARATION AGREEMENT (this "Agreement") is entered into
effective as of August 31, 2002 between CenterPoint Energy, Inc., a Texas
corporation ("CenterPoint"), and Texas Genco Holdings, Inc., a Texas corporation
("Genco"). Capitalized terms used herein and not otherwise defined shall have
the meanings assigned to them in Article I hereof.
RECITALS
WHEREAS, Genco was incorporated on August 24, 2001 and
organized as a wholly owned direct Subsidiary of Reliant Energy, Incorporated, a
Texas corporation ("REI"), on September 21, 2001; and
WHEREAS, effective August 31, 2002, REI consummated a
restructuring transaction (the "Holding Company Restructuring") as a result of
which it became an indirect wholly owned subsidiary of CenterPoint; and
WHEREAS, as part of the Holding Company Restructuring, REI
conveyed the Genco Assets to Genco and Genco contributed the Genco Assets to
Texas Genco, LP, a Texas limited partnership and a wholly owned subsidiary of
Genco ("Genco LP"); and
WHEREAS, as part of the Holding Company Restructuring REI was
converted into a Texas limited liability company named CenterPoint Energy
Houston Electric, LLC ("CenterPoint Houston"); and
WHEREAS, under the Texas Electric Choice Plan (the "Texas
Electric Restructuring Law"), CenterPoint Houston is entitled to recover its
"stranded costs" associated with the Genco Assets; and
WHEREAS, the Texas Electric Restructuring Law allows alternate
methods for establishing a market value for the Genco Assets, and under the
Business Separation Plan, REI agreed that the fair market value of the Genco
Assets will be determined using the partial stock market valuation method
permitted under the law; and
WHEREAS, CenterPoint intends to distribute (the "Genco
Distribution") approximately 19% of the outstanding shares of Genco Common Stock
to CenterPoint's common shareholders on a pro rata basis in order to effect the
partial stock valuation method for the Genco Assets as contemplated under the
Business Separation Plan; and
WHEREAS, in 2004 following the Genco Distribution, Reliant
Resources, Inc., a Delaware corporation ("Resources"), will have the option
purchase all of the shares of Genco Common Stock then owned by CenterPoint
pursuant to the Genco Option Agreement; and
WHEREAS, the parties intend in this Agreement, including the
Exhibits and Schedules hereto, to set forth the principal arrangements between
them regarding the separation of the Genco Business from the CenterPoint
Business and the Genco Distribution.
1
{PAGE}
NOW, THEREFORE, in consideration of the foregoing and the
covenants and agreements set forth below, the parties hereto agree as follows:
ARTICLE I
DEFINITIONS
1.1 Action. "Action" means any demand, action, suit, countersuit,
arbitration, inquiry, proceeding or investigation by or before any federal,
state, local, foreign or international Governmental Authority or any arbitration
or mediation tribunal.
1.2 Affiliates. An "Affiliate" of any Person means another Person
that directly, or indirectly through one or more intermediaries, controls, is
controlled by, or is under common control with, such Person. For this purpose
"control" means the possession, directly or indirectly, of the power to direct
or cause the direction of the management and policies of the Person controlled,
whether through ownership of voting securities, by contract or otherwise. The
fact that any Person may be deemed at any time an Affiliate of another Person
for purposes of the Utilities Code shall not create any implication that such
Persons are "affiliates" for purposes of this Agreement. Notwithstanding
anything herein to the contrary, no member of the Genco Group shall be deemed an
Affiliate of any member of the CenterPoint Group and no member of the
CenterPoint Group shall be deemed an Affiliate of any member of the Genco Group.
1.3 Ancillary Agreements. "Ancillary Agreements" means (i) the
Genco Transition Services Agreement and the Genco Tax Allocation Agreement
between the parties hereto of even date herewith, (ii) the conveyances and other
related documents delivered in connection with the transfer of the Genco Assets
to Genco LP in connection with the Holding Company Restructuring, (iii) the
Technical Services Assignment and Assumption Agreement, (iv) the Genco Option
Agreement Undertaking, and (v) such other agreements, documents or instruments
as the parties may agree are necessary or desirable and which specifically state
that they are Ancillary Agreements within the meaning of this Agreement.
1.4 Business. "Business" means either of the CenterPoint Business
or the Genco Business, as the context requires.
1.5 Business Day. "Business Day" means a day other than a
Saturday, a Sunday or a day on which banking institutions located in the State
of Texas are authorized or obligated by law or executive order to close.
1.6 Business Separation Plan. "Business Separation Plan" means the
Business Separation Plan, as amended, filed by REI with the PUCT in accordance
with Section 39.051 of the Utilities Code and approved by the PUCT at its open
meeting on December 1, 2000 (Docket No. 21956).
1.7 CenterPoint's Auditors. "CenterPoint's Auditors" means
CenterPoint's independent certified public accountants.
1.8 CenterPoint Business. "CenterPoint Business" means any
business of CenterPoint and its Subsidiaries other than the Genco Business.
113636
|
CenterPoint Energy, Inc.
As referenced in this Separation Agreement:
CENTERPOINT ENERGY, INC –
{DOCUMENT}
{TYPE}EX-10.CC1
{SEQUENCE}30
{PAGE}
EXHIBIT 10(cc)(1)
SEPARATION AGREEMENT
BETWEEN
CENTERPOINT ENERGY, INC .
AND
TEXAS GENCO HOLDINGS, INC.
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I DEFINITIONS....................................................................................... 2
1.1 Action.................................................................................. 2
_____________
CenterPoint Energy, Inc – Conflicting Agreements................................................................. 35
{/TABLE}
iv
{PAGE}
SEPARATION AGREEMENT
THIS SEPARATION AGREEMENT (this "Agreement") is entered into
effective as of August 31, 2002 between CenterPoint Energy, Inc ., a Texas
corporation ("CenterPoint"), and Texas Genco Holdings, Inc., a Texas corporation
("Genco"). Capitalized terms used herein and not otherwise defined shall
_____________
CENTERPOINT ENERGY, INC – other agreement shall prevail.
35
{PAGE}
WHEREFORE, the parties have signed this Separation Agreement effective
as of the date first set forth above.
CENTERPOINT ENERGY, INC .
By: /s/ DAVID M. MCCLANAHAN
-------------------------------------
David M. McClanahan
President and Chief Executive Officer
TEXAS GENCO HOLDINGS, INC.
By: /s/ DAVID G. TEES
-------------------------------------
_____________
dt 442656
;
|
Texas Genco
As referenced in this Separation Agreement:
TEXAS GENCO HOLDINGS, INC –
{DOCUMENT}
{TYPE}EX-10.CC1
{SEQUENCE}30
{PAGE}
EXHIBIT 10(cc)(1)
SEPARATION AGREEMENT
BETWEEN
CENTERPOINT ENERGY, INC.
AND
TEXAS GENCO HOLDINGS, INC .
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
ARTICLE I DEFINITIONS....................................................................................... 2
1.1 Action.................................................................................. 2
1.2 Affiliates.............................................................................. 2
1.
_____________
Texas Genco Holdings, Inc – THIS SEPARATION AGREEMENT (this "Agreement") is entered into
effective as of August 31, 2002 between CenterPoint Energy, Inc., a Texas
corporation ("CenterPoint"), and Texas Genco Holdings, Inc ., a Texas corporation
("Genco"). Capitalized terms used herein and not otherwise defined shall have
the meanings assigned to them in Article I
_____________
TEXAS GENCO HOLDINGS, INC – of the date first set forth above.
CENTERPOINT ENERGY, INC.
By: /s/ DAVID M. MCCLANAHAN
-------------------------------------
David M. McClanahan
President and Chief Executive Officer
TEXAS GENCO HOLDINGS, INC .
By: /s/ DAVID G. TEES
-------------------------------------
David G. Tees
President and Chief Executive Officer
36
{PAGE}
SCHEDULE 1.27
Genco Group Subsidiaries
{TABLE}
{
_____________
dt 309988
|
| Preview
Full Doc | 2003 |
Transaction Agreement
Transaction Agreement (30K)
Doc #176592: Click preview link for longer preview.
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among ONEOK, Inc., an Oklahoma corporation (the Company), WESTAR ENERGY, Inc., a Kansas corporation (Parent), and WESTAR INDUSTRIES, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (the Shareholder).
W I T N E S S E T H:
WHEREAS, the parties desire for the Shareholder to effect an underwritten public offering (the Offering) of common stock, par value $0.01 per share, of the Company, (the Common Stock) issuable upon conversion of certain shares of the $0.925 Series D Non-Cumulative Convertible Preferred Stock, par value $0.01 per share, of the Company (the Series D Preferred Stock) held by the Shareholder, except as otherwise set forth herein;
WHEREAS, concurrently with the consummation of the Offering, the Shareholder desires to sell to the Company certain shares of Common Stock, par value $0.01 per share, of the Company currently held by the Shareholder; and
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows.
ARTICLE I.
DEFINITIONS
Section 1.1. Certain Definitions. As used herein, the following terms shall have the following meaning:
Business Day shall mean any day, other than a Saturday, Sunday or a day on which banking institutions in Tulsa, Oklahoma and New York, New York are authorized or obligated by law or executive order to close.
Closing shall mean the consummation of the Offering described in Section 2.1(a) hereof.
Exchange Act Regulations shall mean the regulations promulgated by the SEC under the Securities Exchange Act of 1934.
Gross Repurchase Amount shall mean $50,000,000.
KCC shall mean the Kansas Corporation Commission.
Law shall mean any federal, state, local or foreign law, statute, ordinance, rule, regulation, judgment, injunction, order or decree.
Lock-Up Provision shall mean the lock-up provision set forth in Section 2.3 of the Prior Transaction Agreement.
176592
|
ONEOK
As referenced in this Transaction Agreement:
ONEOK, INC –
TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
EX-99.1 3 dex991.htm TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
Exhibit 99.1
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY,
_____________
ONEOK, INC –
TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
EX-99.1 3 dex991.htm TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
Exhibit 99.1
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of
_____________
ONEOK, INC. –
TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
EX-99.1 3 dex991.htm TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
Exhibit 99.1
TRANSACTION AGREEMENT
among
ONEOK, INC. ,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of
_____________
ONEOK, Inc. – INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among ONEOK, Inc. , an Oklahoma corporation (the Company), WESTAR ENERGY, Inc., a Kansas corporation (Parent), and WESTAR INDUSTRIES, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (the Shareholder).
_____________
ONEOK, Inc. – or certified mail, postage prepaid, return receipt requested), or when received by facsimile transmission if promptly confirmed by one of the foregoing means, as follows:
10
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Executive Officer
Fax: (918) 588-7961
with copies to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief
_____________
dt 1501220
;
ONEOK
As referenced in this Transaction Agreement:
ONEOK, INC –
TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
EX-99.1 3 dex991.htm TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
Exhibit 99.1
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY,
_____________
ONEOK, INC –
TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
EX-99.1 3 dex991.htm TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
Exhibit 99.1
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of
_____________
ONEOK, INC. –
TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
EX-99.1 3 dex991.htm TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
Exhibit 99.1
TRANSACTION AGREEMENT
among
ONEOK, INC. ,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of
_____________
ONEOK, Inc. – INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among ONEOK, Inc. , an Oklahoma corporation (the Company), WESTAR ENERGY, Inc., a Kansas corporation (Parent), and WESTAR INDUSTRIES, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (the Shareholder).
_____________
ONEOK, Inc. – or certified mail, postage prepaid, return receipt requested), or when received by facsimile transmission if promptly confirmed by one of the foregoing means, as follows:
10
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Executive Officer
Fax: (918) 588-7961
with copies to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief
_____________
dt 1501276
;
|
Westar Energy
As referenced in this Transaction Agreement:
WESTAR ENERGY, INC – ONEOK, INC AN OKLAHOMA CORP
EX-99.1 3 dex991.htm TRANSACTION AGREEMENT AMONG ONEOK, INC AN OKLAHOMA CORP
Exhibit 99.1
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC .,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among
_____________
WESTAR ENERGY, Inc – INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among ONEOK, Inc., an Oklahoma corporation (the Company), WESTAR ENERGY, Inc ., a Kansas corporation (Parent), and WESTAR INDUSTRIES, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (the Shareholder).
W I T N E S S E
_____________
Westar Energy, Inc – Oklahoma 74103
Attention: Chief Financial Officer
Fax: (918) 588-7961
and
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: General Counsel
Fax: (918) 588-7971
If to Parent:
Westar Energy, Inc .
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (785) 575-8061
with a copy to:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: Corporate Secretary
Fax: (
_____________
Westar Energy, Inc – 74103
Attention: General Counsel
Fax: (918) 588-7971
If to Parent:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (785) 575-8061
with a copy to:
Westar Energy, Inc .
818 Kansas Avenue
Topeka, Kansas 66612
Attention: Corporate Secretary
Fax: (785) 575-1936
If to the Shareholder:
Westar Industries, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (
_____________
WESTAR ENERGY, INC – as of the date set forth at the head of this Agreement.
ONEOK, INC.
By:
/s/ David L. Kyle
Name:
Title:
David L. Kyle
Chairman, President and
Chief Executive Officer
WESTAR ENERGY, INC .
By:
/s/ James S. Haines, Jr.
Name:
Title:
James S. Haines, Jr.
Chief Executive Officer and President
WESTAR INDUSTRIES, INC.
By:
/s/ James S. Haines, Jr.
Name:
Title:
James
_____________
dt 1428911
;
Westar Industries, Inc.
|
| Preview
Full Doc | 2003 |
Transaction Agreement
Transaction Agreement (30K)
Doc #176602: Click preview link for longer preview.
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among ONEOK, Inc., an Oklahoma corporation (the Company), WESTAR ENERGY, Inc., a Kansas corporation (Parent), and WESTAR INDUSTRIES, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (the Shareholder).
W I T N E S S E T H:
WHEREAS, the parties desire for the Shareholder to effect an underwritten public offering (the Offering) of common stock, par value $0.01 per share, of the Company, (the Common Stock) issuable upon conversion of certain shares of the $0.925 Series D Non-Cumulative Convertible Preferred Stock, par value $0.01 per share, of the Company (the Series D Preferred Stock) held by the Shareholder, except as otherwise set forth herein;
WHEREAS, concurrently with the consummation of the Offering, the Shareholder desires to sell to the Company certain shares of Common Stock, par value $0.01 per share, of the Company currently held by the Shareholder; and
NOW, THEREFORE, in consideration of the mutual covenants and agreements set forth herein and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree as follows.
ARTICLE I.
DEFINITIONS
Section 1.1 Certain Definitions. As used herein, the following terms shall have the following meaning:
Business Day shall mean any day, other than a Saturday, Sunday or a day on which banking institutions in Tulsa, Oklahoma and New York, New York are authorized or obligated by law or executive order to close.
Closing shall mean the consummation of the Offering described in Section 2.1(a) hereof.
Exchange Act Regulations shall mean the regulations promulgated by the SEC under the Securities Exchange Act of 1934.
Gross Repurchase Amount shall mean $50,000,000.
KCC shall mean the Kansas Corporation Commission.
Law shall mean any federal, state, local or foreign law, statute, ordinance, rule, regulation, judgment, injunction, order or decree.
Lock-Up Provision shall mean the lock-up provision set forth in Section 2.3 of the Prior Transaction Agreement.
NYSE shall mean the New York Stock Exchange.
Offering Price shall mean the per share offering price of the Common Stock in the Offering before deducting the Offering Expenses.
Offering Expenses shall mean all fees, expenses, underwriting commissions and discounts, incurred or paid in connection with the Offering, including without limitation,
176602
|
ONEOK
As referenced in this Transaction Agreement:
ONEOK, INC. –
Transaction Agreement
EX-10.1 4 dex101.htm TRANSACTION AGREEMENT
Exhibit 10.1
TRANSACTION AGREEMENT
among
ONEOK, INC. ,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of
_____________
ONEOK, Inc. – INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among ONEOK, Inc. , an Oklahoma corporation (the Company), WESTAR ENERGY, Inc., a Kansas corporation (Parent), and WESTAR INDUSTRIES, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (the Shareholder).
_____________
ONEOK, Inc. – registered or certified mail, postage prepaid, return receipt requested), or when received by facsimile transmission if promptly confirmed by one of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Executive Officer
Fax: (918) 588-7961
with copies to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief
_____________
ONEOK, Inc. – of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Executive Officer
Fax: (918) 588-7961
with copies to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Financial Officer
Fax: (918) 588-7961
and
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: General Counsel
Fax: (
_____________
ONEOK, Inc. – 74103
Attention: Chief Executive Officer
Fax: (918) 588-7961
with copies to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Financial Officer
Fax: (918) 588-7961
and
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: General Counsel
Fax: (918) 588-7971
10
If to Parent:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
_____________
dt 1501221
;
ONEOK
As referenced in this Transaction Agreement:
ONEOK, INC. –
Transaction Agreement
EX-10.1 4 dex101.htm TRANSACTION AGREEMENT
Exhibit 10.1
TRANSACTION AGREEMENT
among
ONEOK, INC. ,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of
_____________
ONEOK, Inc. – INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among ONEOK, Inc. , an Oklahoma corporation (the Company), WESTAR ENERGY, Inc., a Kansas corporation (Parent), and WESTAR INDUSTRIES, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (the Shareholder).
_____________
ONEOK, Inc. – registered or certified mail, postage prepaid, return receipt requested), or when received by facsimile transmission if promptly confirmed by one of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Executive Officer
Fax: (918) 588-7961
with copies to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief
_____________
ONEOK, Inc. – of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Executive Officer
Fax: (918) 588-7961
with copies to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Financial Officer
Fax: (918) 588-7961
and
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: General Counsel
Fax: (
_____________
ONEOK, Inc. – 74103
Attention: Chief Executive Officer
Fax: (918) 588-7961
with copies to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: Chief Financial Officer
Fax: (918) 588-7961
and
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: General Counsel
Fax: (918) 588-7971
10
If to Parent:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
_____________
dt 1501277
;
|
Westar Energy
As referenced in this Transaction Agreement:
WESTAR ENERGY, INC –
Transaction Agreement
EX-10.1 4 dex101.htm TRANSACTION AGREEMENT
Exhibit 10.1
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC .,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among
_____________
WESTAR ENERGY, Inc – INC.,
a Delaware corporation
Dated as of August 4, 2003
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of August 4, 2003 (this Agreement) among ONEOK, Inc., an Oklahoma corporation (the Company), WESTAR ENERGY, Inc ., a Kansas corporation (Parent), and WESTAR INDUSTRIES, Inc., a Delaware corporation and a wholly owned direct subsidiary of Parent (the Shareholder).
W I T N E S S E
_____________
Westar Energy, Inc – 74103
Attention: Chief Financial Officer
Fax: (918) 588-7961
and
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma 74103
Attention: General Counsel
Fax: (918) 588-7971
10
If to Parent:
Westar Energy, Inc .
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (785) 575-8061
with a copy to:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: Corporate Secretary
Fax: (
_____________
Westar Energy, Inc – Attention: General Counsel
Fax: (918) 588-7971
10
If to Parent:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (785) 575-8061
with a copy to:
Westar Energy, Inc .
818 Kansas Avenue
Topeka, Kansas 66612
Attention: Corporate Secretary
Fax: (785) 575-1936
If to the Shareholder:
Westar Industries, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (
_____________
WESTAR ENERGY, INC – as of the date set forth at the head of this Agreement.
ONEOK, INC.
By:
/s/ David L. Kyle
Name:
Title:
David L. Kyle
Chairman, President and
Chief Executive Officer
WESTAR ENERGY, INC .
By:
/s/ James S. Haines, Jr.
Name:
Title:
James S. Haines, Jr
Chief Executive Officer and President
WESTAR INDUSTRIES, INC
By:
/s/ James S. Haines, Jr.
Name:
Title:
James
_____________
dt 1428912
;
Westar Industries, Inc.
|
| Preview
Full Doc | 2003 |
Transaction Agreement
Transaction Agreement (42K)
Doc #177040: Click preview link for longer preview.
--------------------------------------------------------------------------------
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of January 9, 2003
--------------------------------------------------------------------------------
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I
DEFINITIONS
Section 1.1. Certain Definitions..............................................1
Section 1.2. Other Defined Terms..............................................3
ARTICLE II
THE OFFERING; THE REPURCHASE
Section 2.1. The Offering.....................................................5
Section 2.2. The Repurchase...................................................5
Section 2.3. Lock-Up..........................................................6
Section 2.4. Waiver; Consent..................................................6
ARTICLE III
SHAREHOLDER AGREEMENT; REGISTRATION RIGHTS AGREEMENT;
THE EXCHANGE
Section 3.1. Effectiveness of Transaction Documents...........................6
Section 3.2. The Exchange.....................................................7
Section 3.3. The Closing......................................................7
Section 3.4. Shelf Registration...............................................8
ARTICLE IV
REPRESENTATIONS AND WARRANTIES
Section 4.1. Representations and Warranties of the Company....................8
Section 4.2. Representations and Warranties of the Parent and the
Shareholder....................................................10
ARTICLE V
COVENANTS
Section 5.1. Commercially Reasonable Efforts.................................11
-i-
{PAGE}
Page
----
Section 5.2. KCC Approval....................................................11
ARTICLE VI
CONDITIONS TO THE REPURCHASE AND THE EXCHANGE
Section 6.1. Conditions to Obligations of Each Party.........................12
Section 6.2. Conditions to the Obligations of Parent and the Shareholder.....12
Section 6.3. Conditions to the Obligations of the Company....................13
ARTICLE VII
TERMINATION
Section 7.1. Termination.....................................................13
ARTICLE VIII
MISCELLANEOUS
Section 8.1. Injunctive Relief...............................................14
Section 8.2. Successors and Assigns..........................................14
Section 8.3. Amendments; Waiver..............................................14
Section 8.4. Notices.........................................................15
Section 8.5. APPLICABLE LAW..................................................16
Section 8.6. Headings........................................................16
Section 8.7. Integration.....................................................17
Section 8.8. Severability....................................................17
Section 8.9. Consent to Jurisdiction.........................................17
Section 8.10. Counterparts....................................................17
Exhibit A - Form of Certificate of Designations
Exhibit B - Form of Amended and Restated Rights Agreement
-ii-
{PAGE}
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of January 9, 2003 (this "Agreement" among
ONEOK, Inc., an Oklahoma corporation (the "Company"), WESTAR ENERGY, Inc., a
Kansas corporation ("Parent"), and WESTAR INDUSTRIES, Inc., a Delaware
corporation and a wholly owned direct subsidiary of Parent (the "Shareholder").
W I T N E S S E T H:
WHEREAS, the Company intends to make a public offering (the "Offering") of
shares of the common stock, par value $0.01 per share, of the Company (the
"Common Stock") and such other securities as the Company may offer (the "Other
Securities");
WHEREAS, the Company desires to use a portion of the proceeds of the
Offering to repurchase (the "Repurchase") from the Shareholder a portion of the
shares of the Series A Convertible Preferred Stock, par value $0.01 per share,
of the Company (the "Series A Preferred Stock") and the Shareholder desires to
sell such shares of the Series A Preferred Stock to the Company; and
WHEREAS, the Company desires to modify the terms of the Series A Preferred
Stock by exchanging (the "Exchange") shares of newly issued $0.925 Series D
Non-Cumulative Convertible Preferred Stock, par value $0.01 per share, of the
Company (the "Series D Preferred Stock") for the shares of the Series A
Preferred Stock held by the Shareholder.
NOW, THEREFORE, in consideration of the mutual covenants and agreements set
forth herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto hereby agree as
follows:
ARTICLE I
DEFINITIONS
Section 1.1. Certain Definitions. As used herein, the following terms shall
have the following meaning:
"Business Day" shall mean any day, other than a Saturday, Sunday or a day
on which banking institutions in Tulsa, Oklahoma and New York, New York are
authorized or obligated by law or executive order to close.
"Cash Equivalents" shall mean (i) marketable securities (A) issued or
directly and unconditionally guaranteed as to interest and principal by the
United States of America or (B) issued by any agency of the United States of
America the obligations of which are backed by the full faith and credit of the
United States of America, in each case maturing within one
{PAGE}
year after such date; (ii) marketable direct obligations issued by any state of
the United States of America or the District of Columbia or any political
subdivision or instrumentality thereof, in each case maturing within one year
after such date and having, at the time of the acquisition thereof, a rating of
at least A-1 from Standard & Poor's Ratings Group, a division of The McGraw Hill
Corporation ("S&P") or at least P-1 from Moody's Investor Services, Inc.
("Moody's"); (iii) commercial paper maturing no more than one year from the date
of creation thereof and having, at the time of acquisition thereof, a rating of
at least A-1 from S&P or at least P-1 from Moody's; (iv) certificates of
deposit, time deposits, eurodollar time deposits, overnight bank deposits or
bankers' acceptances maturing within one year after such date and issued or
accepted by, and money market deposit accounts issued or offered by, any
domestic office of any commercial bank organized under the laws of the United
States of America or any state thereof or the District of Columbia that has
combined capital and surplus and undivided profits of not less than
$500,000,000; (v) fully collateralized repurchase agreements with a terms of not
more than 30 days for securities described in clause (i) or (ii) above and
entered into with any commercial bank satisfying the requirements of clause (iv)
above; and (vi) shares of any money market mutual fund that (a) complies with
the criteria set forth in Securities and Exchange Commission Rule 2a-7 under the
Investment Company Act of 1940, (b) had net assets of not less than
$500,000,000, and (c) has the highest rating obtainable from either S&P or
Moody's.
"Conversion Factor" shall be an amount equal to, at any time, the number of
shares of Common Stock into which one share of Series A Preferred Stock is then
convertible.
"Gross Repurchase Amount" shall mean the sum of the Repurchase Amount and
the Shareholder Allocated Expenses.
"KCC" shall mean the Kansas Corporation Commission.
"Law" shall mean any federal, state, local or foreign law, statute,
ordinance, rule, regulation, judgment, injunction, order or decree.
"Net Proceeds" shall mean the proceeds of the Offering after deducting the
Offering Expenses.
"NYSE" shall mean the New York Stock Exchange.
"Offering Price" shall mean the per share offering price of the Common
Stock in the Offering before deducting the Offering Expenses.
"Offering Expenses" shall mean all fees, expenses, underwriting commissions
and discounts, incurred or paid by the Company in connection with the Offering,
including, without limitation, attorneys' and accountants' fees, filing fees and
printing costs.
177040
|
ONEOK
As referenced in this Transaction Agreement:
ONEOK, INC. –
{DOCUMENT}
{TYPE}EX-6
{SEQUENCE}3
{FILENAME}oneok13dano9ex6.txt
{DESCRIPTION}TRANSACTION AGREEMENT
{TEXT}
EXHIBIT 6
--------------------------------------------------------------------------------
TRANSACTION AGREEMENT
among
ONEOK, INC. ,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of January 9, 2003
--------------------------------------------------------------------------------
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I
_____________
ONEOK, Inc. – A - Form of Certificate of Designations
Exhibit B - Form of Amended and Restated Rights Agreement
-ii-
{PAGE}
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of January 9, 2003 (this "Agreement" among
ONEOK, Inc. , an Oklahoma corporation (the "Company"), WESTAR ENERGY, Inc., a
Kansas corporation ("Parent"), and WESTAR INDUSTRIES, Inc., a Delaware
corporation and a wholly owned direct subsidiary of Parent (the "Shareholder").
_____________
ONEOK, Inc. – registered or certified mail, postage prepaid, return
receipt requested), or when received by facsimile transmission if promptly
confirmed by one of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: Chief Executive Officer
Fax: (918) 588-7961
with a copy to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: General Counsel
_____________
ONEOK, Inc. – of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: Chief Executive Officer
Fax: (918) 588-7961
with a copy to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: General Counsel
Fax: (918) 588-7971
12
{PAGE}
If to Parent:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
_____________
ONEOK, INC. – Company, Parent and the Shareholder have caused
this Agreement to be duly executed by their respective authorized officers as of
the date set forth at the head of this Agreement.
ONEOK, INC.
/s/ David L. Kyle
By:
--------------------------------------------------
Name: David L. Kyle
Title: Chairman, President and Chief
Executive Officer
WESTAR ENERGY, INC.
/s/ James S. Haines, Jr.
By:
--------------------------------------------------
Name: James S. Haines,
_____________
dt 1501223
;
ONEOK
As referenced in this Transaction Agreement:
ONEOK, INC. –
{DOCUMENT}
{TYPE}EX-6
{SEQUENCE}3
{FILENAME}oneok13dano9ex6.txt
{DESCRIPTION}TRANSACTION AGREEMENT
{TEXT}
EXHIBIT 6
--------------------------------------------------------------------------------
TRANSACTION AGREEMENT
among
ONEOK, INC. ,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of January 9, 2003
--------------------------------------------------------------------------------
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I
_____________
ONEOK, Inc. – A - Form of Certificate of Designations
Exhibit B - Form of Amended and Restated Rights Agreement
-ii-
{PAGE}
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of January 9, 2003 (this "Agreement" among
ONEOK, Inc. , an Oklahoma corporation (the "Company"), WESTAR ENERGY, Inc., a
Kansas corporation ("Parent"), and WESTAR INDUSTRIES, Inc., a Delaware
corporation and a wholly owned direct subsidiary of Parent (the "Shareholder").
_____________
ONEOK, Inc. – registered or certified mail, postage prepaid, return
receipt requested), or when received by facsimile transmission if promptly
confirmed by one of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: Chief Executive Officer
Fax: (918) 588-7961
with a copy to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: General Counsel
_____________
ONEOK, Inc. – of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: Chief Executive Officer
Fax: (918) 588-7961
with a copy to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: General Counsel
Fax: (918) 588-7971
12
{PAGE}
If to Parent:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
_____________
ONEOK, INC. – Company, Parent and the Shareholder have caused
this Agreement to be duly executed by their respective authorized officers as of
the date set forth at the head of this Agreement.
ONEOK, INC.
/s/ David L. Kyle
By:
--------------------------------------------------
Name: David L. Kyle
Title: Chairman, President and Chief
Executive Officer
WESTAR ENERGY, INC.
/s/ James S. Haines, Jr.
By:
--------------------------------------------------
Name: James S. Haines,
_____________
dt 1501279
;
Westar Energy
As referenced in this Transaction Agreement:
WESTAR ENERGY, INC –
{DOCUMENT}
{TYPE}EX-6
{SEQUENCE}3
{FILENAME}oneok13dano9ex6.txt
{DESCRIPTION}TRANSACTION AGREEMENT
{TEXT}
EXHIBIT 6
--------------------------------------------------------------------------------
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC .,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of January 9, 2003
--------------------------------------------------------------------------------
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I
DEFINITIONS
Section 1.1. Certain Definitions..............................................
_____________
WESTAR ENERGY, Inc – B - Form of Amended and Restated Rights Agreement
-ii-
{PAGE}
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of January 9, 2003 (this "Agreement" among
ONEOK, Inc., an Oklahoma corporation (the "Company"), WESTAR ENERGY, Inc ., a
Kansas corporation ("Parent"), and WESTAR INDUSTRIES, Inc., a Delaware
corporation and a wholly owned direct subsidiary of Parent (the "Shareholder").
W I T N E S S E
_____________
Westar Energy, Inc – Executive Officer
Fax: (918) 588-7961
with a copy to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: General Counsel
Fax: (918) 588-7971
12
{PAGE}
If to Parent:
Westar Energy, Inc .
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (785) 575-8061
with a copy to:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: Corporate Secretary
Fax: (
_____________
Westar Energy, Inc – General Counsel
Fax: (918) 588-7971
12
{PAGE}
If to Parent:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (785) 575-8061
with a copy to:
Westar Energy, Inc .
818 Kansas Avenue
Topeka, Kansas 66612
Attention: Corporate Secretary
Fax: (785) 575-1936
If to the Shareholder:
Westar Industries, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
Fax: (
_____________
WESTAR ENERGY, INC – as of
the date set forth at the head of this Agreement.
ONEOK, INC.
/s/ David L. Kyle
By:
--------------------------------------------------
Name: David L. Kyle
Title: Chairman, President and Chief
Executive Officer
WESTAR ENERGY, INC .
/s/ James S. Haines, Jr.
By:
--------------------------------------------------
Name: James S. Haines, Jr.
Title: President and Chief Executive Officer
WESTAR INDUSTRIES, INC.
/s/ James S. Haines, Jr.
By:
--------------------------------------------------
Name: James S.
_____________
dt 1428914
;
|
Western
As referenced in this Transaction Agreement:
Western
Resources, Inc – General Corporation Act.
"Prior Registration Rights Agreement" shall mean the Registration Rights
Agreement, dated as of November 26, 1997, between WAI, Inc. and Western
Resources, Inc .
"Prior Shareholder Agreement" shall mean the Shareholder Agreement, dated
as of November 26, 1997, between WAI, Inc. and Western Resources, Inc.
"Repurchase
_____________
Western Resources, Inc – Inc. and Western
Resources, Inc.
"Prior Shareholder Agreement" shall mean the Shareholder Agreement, dated
as of November 26, 1997, between WAI, Inc. and Western Resources, Inc .
"Repurchase Amount" shall be an amount equal to 50% of the Net Proceeds (or
such greater percentage of the Net Proceeds as
_____________
dt 143334
;
Westar Industries, Inc.;
Oneok Inc /new/
(westar Industries Inc)
|
| Preview
Full Doc | 2003 |
Transaction Agreement
Transaction Agreement (42K)
Doc #177041: Click preview link for longer preview.
TRANSACTION AGREEMENT
among
ONEOK, INC.,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of January 9, 2003
--------------------------------------------------------------------------------
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I
DEFINITIONS
Section 1.1. Certain Definitions..............................................1
Section 1.2. Other Defined Terms..............................................3
ARTICLE II
THE OFFERING; THE REPURCHASE
Section 2.1. The Offering.....................................................5
Section 2.2. The Repurchase...................................................5
Section 2.3. Lock-Up..........................................................6
Section 2.4. Waiver; Consent..................................................6
ARTICLE III
SHAREHOLDER AGREEMENT; REGISTRATION RIGHTS AGREEMENT;
THE EXCHANGE
Section 3.1. Effectiveness of Transaction Documents...........................6
Section 3.2. The Exchange.....................................................7
Section 3.3. The Closing......................................................7
Section 3.4. Shelf Registration...............................................8
ARTICLE IV
REPRESENTATIONS AND WARRANTIES
Section 4.1. Representations and Warranties of the Company....................8
Section 4.2. Representations and Warranties of the Parent and the
Shareholder....................................................10
ARTICLE V
COVENANTS
Section 5.1. Commercially Reasonable Efforts.................................11
-i-
{PAGE}
Page
----
Section 5.2. KCC Approval....................................................11
ARTICLE VI
CONDITIONS TO THE REPURCHASE AND THE EXCHANGE
Section 6.1. Conditions to Obligations of Each Party.........................12
Section 6.2. Conditions to the Obligations of Parent and the Shareholder.....12
Section 6.3. Conditions to the Obligations of the Company....................13
ARTICLE VII
TERMINATION
Section 7.1. Termination.....................................................13
ARTICLE VIII
MISCELLANEOUS
Section 8.1. Injunctive Relief...............................................14
Section 8.2. Successors and Assigns..........................................14
Section 8.3. Amendments; Waiver..............................................14
Section 8.4. Notices.........................................................15
Section 8.5. APPLICABLE LAW..................................................16
Section 8.6. Headings........................................................16
Section 8.7. Integration.....................................................17
Section 8.8. Severability....................................................17
Section 8.9. Consent to Jurisdiction.........................................17
Section 8.10. Counterparts....................................................17
Exhibit A - Form of Certificate of Designations
Exhibit B - Form of Amended and Restated Rights Agreement
-ii-
{PAGE}
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of January 9, 2003 (this "Agreement" among
ONEOK, Inc., an Oklahoma corporation (the "Company"), WESTAR ENERGY, Inc., a
Kansas corporation ("Parent"), and WESTAR INDUSTRIES, Inc., a Delaware
corporation and a wholly owned direct subsidiary of Parent (the "Shareholder").
W I T N E S S E T H:
WHEREAS, the Company intends to make a public offering (the "Offering") of
shares of the common stock, par value $0.01 per share, of the Company (the
"Common Stock") and such other securities as the Company may offer (the "Other
Securities");
WHEREAS, the Company desires to use a portion of the proceeds of the
Offering to repurchase (the "Repurchase") from the Shareholder a portion of the
shares of the Series A Convertible Preferred Stock, par value $0.01 per share,
of the Company (the "Series A Preferred Stock") and the Shareholder desires to
sell such shares of the Series A Preferred Stock to the Company; and
WHEREAS, the Company desires to modify the terms of the Series A Preferred
Stock by exchanging (the "Exchange") shares of newly issued $0.925 Series D
Non-Cumulative Convertible Preferred Stock, par value $0.01 per share, of the
Company (the "Series D Preferred Stock") for the shares of the Series A
Preferred Stock held by the Shareholder.
NOW, THEREFORE, in consideration of the mutual covenants and agreements set
forth herein and for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, the parties hereto hereby agree as
follows:
ARTICLE I
DEFINITIONS
Section 1.1. Certain Definitions. As used herein, the following terms shall
have the following meaning:
"Business Day" shall mean any day, other than a Saturday, Sunday or a day
on which banking institutions in Tulsa, Oklahoma and New York, New York are
authorized or obligated by law or executive order to close.
"Cash Equivalents" shall mean (i) marketable securities (A) issued or
directly and unconditionally guaranteed as to interest and principal by the
United States of America or (B) issued by any agency of the United States of
America the obligations of which are backed by the full faith and credit of the
United States of America, in each case maturing within one
{PAGE}
year after such date; (ii) marketable direct obligations issued by any state of
the United States of America or the District of Columbia or any political
subdivision or instrumentality thereof, in each case maturing within one year
after such date and having, at the time of the acquisition thereof, a rating of
at least A-1 from Standard & Poor's Ratings Group, a division of The McGraw Hill
Corporation ("S&P") or at least P-1 from Moody's Investor Services, Inc.
("Moody's"); (iii) commercial paper maturing no more than one year from the date
of creation thereof and having, at the time of acquisition thereof, a rating of
at least A-1 from S&P or at least P-1 from Moody's; (iv) certificates of
deposit, time deposits, eurodollar time deposits, overnight bank deposits or
bankers' acceptances maturing within one year after such date and issued or
accepted by, and money market deposit accounts issued or offered by, any
domestic office of any commercial bank organized under the laws of the United
States of America or any state thereof or the District of Columbia that has
combined capital and surplus and undivided profits of not less than
$500,000,000; (v) fully collateralized repurchase agreements with a terms of not
more than 30 days for securities described in clause (i) or (ii) above and
entered into with any commercial bank satisfying the requirements of clause (iv)
above; and (vi) shares of any money market mutual fund that (a) complies with
the criteria set forth in Securities and Exchange Commission Rule 2a-7 under the
Investment Company Act of 1940, (b) had net assets of not less than
$500,000,000, and (c) has the highest rating obtainable from either S&P or
Moody's.
"Conversion Factor" shall be an amount equal to, at any time, the number of
shares of Common Stock into which one share of Series A Preferred Stock is then
convertible.
"Gross Repurchase Amount" shall mean the sum of the Repurchase Amount and
the Shareholder Allocated Expenses.
"KCC" shall mean the Kansas Corporation Commission.
"Law" shall mean any federal, state, local or foreign law, statute,
ordinance, rule, regulation, judgment, injunction, order or decree.
"Net Proceeds" shall mean the proceeds of the Offering after deducting the
Offering Expenses.
"NYSE" shall mean the New York Stock Exchange.
"Offering Price" shall mean the per share offering price of the Common
Stock in the Offering before deducting the Offering Expenses.
"Offering Expenses" shall mean all fees, expenses, underwriting commissions
and discounts, incurred or paid by the Company in connection with the Offering,
including, without limitation, attorneys' and accountants' fees, filing fees and
printing costs.
2
{PAGE}
"OGCA" shall mean the Oklahoma General Corporation Act.
"Prior Registration Rights Agreement" shall mean the Registration Rights
Agreement, dated as of November 26, 1997, between WAI, Inc. and Western
Resources, Inc.
"Prior Shareholder Agreement" shall mean the Shareholder Agreement, dated
as of November 26, 1997, between WAI, Inc. and Western Resources, Inc.
"Repurchase Amount" shall be an amount equal to 50% of the Net Proceeds (or
such greater percentage of the Net Proceeds as the Company may, in its sole
discretion, determine), not to exceed $250,000,000.
"Securities Act" shall mean the Securities Act of 1933, as amended.
"SEC" shall mean the United States Securities and Exchange Commission.
"Shareholder Allocated Expenses" shall mean an amount equal to the Offering
Expenses multiplied by a fraction, the numerator of which is the Repurchase
Amount and the denominator of which is the Net Proceeds.
"Shares" shall mean all the shares of Common Stock or Series D Preferred
Stock held by the Shareholder upon consummation of the Exchange and all shares
of Common Stock issued or issuable upon conversion of the Series D Preferred
Stock held upon consummation of the Exchange by the Shareholder and all shares
of Common Stock issued or issuable, directly or indirectly, with respect to such
shares of Common Stock by way of stock dividend, stock split or combination of
shares.
"Termination Date" shall mean February 28, 2003 or such later date as may
be mutually agreed upon by the parties hereto.
"Transaction Documents" shall mean this Agreement, the Shareholder
Agreement and the Registration Rights Agreement.
Section 1.2. Other Defined Terms. The following terms shall have the
meanings defined for such terms in the Sections set forth
below
Term Location
177041
|
ONEOK
As referenced in this Transaction Agreement:
ONEOK, INC. –
{DOCUMENT}
{TYPE}EX-10.1
{SEQUENCE}3
{FILENAME}westar8k010903ex101new.txt
{DESCRIPTION}TRANSACTION AGREEMENT
{TEXT}
EXHIBIT 10.1
--------------------------------------------------------------------------------
TRANSACTION AGREEMENT
among
ONEOK, INC. ,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of January 9, 2003
--------------------------------------------------------------------------------
{PAGE}
TABLE OF CONTENTS
Page
----
ARTICLE I
_____________
ONEOK, Inc. – A - Form of Certificate of Designations
Exhibit B - Form of Amended and Restated Rights Agreement
-ii-
{PAGE}
TRANSACTION AGREEMENT
TRANSACTION AGREEMENT, dated as of January 9, 2003 (this "Agreement" among
ONEOK, Inc. , an Oklahoma corporation (the "Company"), WESTAR ENERGY, Inc., a
Kansas corporation ("Parent"), and WESTAR INDUSTRIES, Inc., a Delaware
corporation and a wholly owned direct subsidiary of Parent (the "Shareholder").
_____________
ONEOK, Inc. – registered or certified mail, postage prepaid, return
receipt requested), or when received by facsimile transmission if promptly
confirmed by one of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: Chief Executive Officer
Fax: (918) 588-7961
with a copy to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: General Counsel
_____________
ONEOK, Inc. – of the foregoing means, as follows:
If to the Company:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: Chief Executive Officer
Fax: (918) 588-7961
with a copy to:
ONEOK, Inc.
100 W. Fifth Street
Tulsa, Oklahoma
Attention: General Counsel
Fax: (918) 588-7971
12
{PAGE}
If to Parent:
Westar Energy, Inc.
818 Kansas Avenue
Topeka, Kansas 66612
Attention: President
_____________
ONEOK, INC. – Company, Parent and the Shareholder have caused
this Agreement to be duly executed by their respective authorized officers as of
the date set forth at the head of this Agreement.
ONEOK, INC.
/s/ David L. Kyle
By:
--------------------------------------------------
Name: David L. Kyle
Title: Chairman, President and Chief
Executive Officer
WESTAR ENERGY, INC.
/s/ James S. Haines, Jr.
By:
--------------------------------------------------
Name: James S. Haines,
_____________
dt 1501224
;
ONEOK
As referenced in this Transaction Agreement:
ONEOK, INC. –
{DOCUMENT}
{TYPE}EX-10.1
{SEQUENCE}3
{FILENAME}westar8k010903ex101new.txt
{DESCRIPTION}TRANSACTION AGREEMENT
{TEXT}
EXHIBIT 10.1
--------------------------------------------------------------------------------
TRANSACTION AGREEMENT
among
ONEOK, INC. ,
an Oklahoma corporation,
WESTAR ENERGY, INC.,
a Kansas corporation,
and
WESTAR INDUSTRIES, INC.,
a Delaware corporation
Dated as of January 9, 2003
--------------------------------------------------------------------------------
{PAGE}
TABLE OF CONTENTS
Page
|