Preview of our top selling Contribution Agreement
Visteon - Contribution Agreement, Dated As of September 12, 2005
CONTRIBUTION AGREEMENT
dated as of
September 12, 2005
between
VISTEON CORPORATION
and
VFH HOLDINGS, INC.
TABLE OF CONTENTS
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ARTICLE 1
DEFINITIONS
Section 1.01. Definitions............................................. 2 Section 1.02. Other Definitional and Interpretative Provisions........ 11
ARTICLE 2
CONTRIBUTION
Section 2.01. Contribution............................................ 12 Section 2.02. Excluded Assets......................................... 15 Section 2.03. Assumed Liabilities..................................... 17 Section 2.04. Visteon Retained Liabilities............................ 17 Section 2.05. Transfer or Assignment of Contributed Contracts and
Rights.................................................. 20 Section 2.06. Closing................................................. 20 Section 2.07. Deliveries at Closing................................... 21
ARTICLE 3
REPRESENTATIONS AND WARRANTIES OF VISTEON
Section 3.01. Corporate Existence and Power........................... 23 Section 3.02. Corporate Authorization................................. 23 Section 3.03. Governmental Authorization.............................. 24 Section 3.04. Noncontravention........................................ 24 Section 3.05. Statement of Assets; Financial Statements............... 24 Section 3.06. Absence of Certain Changes.............................. 25 Section 3.07. Material Contracts...................................... 26 Section 3.08. Litigation.............................................. 28 Section 3.09. Compliance with Laws and Court Orders................... 28 Section 3.10. Properties.............................................. 28 Section 3.11. Sufficiency of and Title to the Contributed Assets...... 29 Section 3.12. Products................................................ 30 Section 3.13. Intellectual Property................................... 30 Section 3.14. Customs................................................. 32 Section 3.15. Licenses and Permits.................................... 32 Section 3.16. Inventories............................................. 33 Section 3.17. Taxes................................................... 33 Section 3.18. ERISA Representations................................... 33 Section 3.19. Employees............................................... 35 Section 3.20. Labor Matters........................................... 35 Section 3.21. Environmental Compliance................................ 36
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---- Section 3.22. Finders' Fees........................................... 37 Section 3.23. No Other Representations or Warranties.................. 38
ARTICLE 4
COVENANTS OF VISTEON
Section 4.01. Conduct of the Business................................. 38 Section 4.02. Formation of Company Subsidiaries Prior to Closing...... 41 Section 4.03. Delivery of Final Statement of Assets................... 41 Section 4.04. Confidentiality......................................... 41 Section 4.05. Notices of Certain Events............................... 41 Section 4.06. Employee Matters........................................ 42 Section 4.07. Title Insurance and Surveys............................. 42
ARTICLE 5
COVENANTS OF THE COMPANY AND VISTEON
Section 5.01. Commercially Reasonable Efforts; Further Assurances..... 43 Section 5.02. Certain Filings......................................... 43 Section 5.03. Software License Fees................................... 43 Section 5.04. Access after Closing.................................... 44 Section 5.05. Public Announcements.................................... 45 Section 5.06. Salaried Employee Leasing............................... 45 Section 5.07. Mexican Assets.......................................... 45 Section 5.08. Agreement with respect to Certain Shared-Use Offsite
Tooling................................................. 46
ARTICLE 6
TAX MATTERS
Section 6.01. Allocation of Consideration............................. 46 Section 6.02. Filing of Returns and Payment of Taxes.................. 47 Section 6.03. Refunds and Credits..................................... 47 Section 6.04. Property Taxes.......................................... 48 Section 6.05. Transfer Taxes.......................................... 48 Section 6.06. Cooperation............................................. 48
ARTICLE 7
CONDITIONS TO CLOSING
Section 7.01. Conditions to Obligations of the Company and Visteon.... 49 Section 7.02. Conditions to Obligation of the Company................. 49 Section 7.03. Condition to Obligation of Visteon...................... 51
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ARTICLE 8
SURVIVAL; INDEMNIFICATION
Section 8.01. Survival................................................ 51 Section 8.02. Indemnification......................................... 51 Section 8.03. Procedures.............................................. 52 Section 8.04. Mitigation.............................................. 54 Section 8.05. Calculation of Losses................................... 54 Section 8.06. No Consequential Damages................................ 55 Section 8.07. Exclusive Remedy........................................ 55 Section 8.08. No Double Recovery...................................... 55
ARTICLE 9
TERMINATION
Section 9.01. Grounds for Termination................................. 56 Section 9.02. Effect of Termination................................... 56
ARTICLE 10
MISCELLANEOUS
Section 10.01. Notices................................................. 57 Section 10.02. Amendments and Waivers.................................. 58 Section 10.03. Expenses................................................ 59 Section 10.04. Successors and Assigns.................................. 59 Section 10.05. Governing Law........................................... 59 Section 10.06. Dispute Resolution...................................... 59 Section 10.07. Jurisdiction............................................ 60 Section 10.08. WAIVER OF JURY TRIAL.................................... 61 Section 10.09. Counterparts; Effectiveness; Third Party Beneficiaries.. 61 Section 10.10. Entire Agreement........................................ 61 Section 10.11. Bulk Sales Laws......................................... 61 Section 10.12. Severability............................................ 61 Section 10.13. Specific Performance.................................... 61
Exhibit A Assignment and Assumption Agreement Exhibit B Bill of Sale Exhibit C Company-Visteon Purchase and Supply Agreement Exhibit D Intellectual Property Contribution Agreement Exhibit E Master Services Agreement Exhibit F Mexico Asset Purchase Agreements Exhibit G Software License and Contribution Agreement Exhibit H Visteon-Company Purchase and Supply Agreement Exhibit I Visteon Hourly Employee Lease Agreement Exhibit J Visteon Salaried Employee Lease Agreement Exhibit K VPAC Agreement Exhibit L VTC Agreement
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CONTRIBUTION AGREEMENT
CONTRIBUTION AGREEMENT (this "AGREEMENT") dated as of September 12, 2005 between Visteon Corporation, a Delaware corporation ("VISTEON"), and VFH Holdings, Inc., a Delaware corporation (the "COMPANY").
WITNESSETH:
WHEREAS, Visteon and its Affiliates (as defined below) conduct the Business (as defined below);
WHEREAS, Visteon formed the Company pursuant to the Delaware General Corporation Law by filing the Certificate of Incorporation of the Company with the office of the Secretary of State of the State of Delaware on July 15, 2005;
WHEREAS, Ford Motor Company, a Delaware corporation ("FORD"), and Visteon are parties to a Master Agreement (the "MASTER AGREEMENT") dated as of the date hereof pursuant to which, among other things, Visteon has agreed to enter into this Agreement with the Company and to consummate, subject to the terms and conditions set forth herein, the contribution of certain assets related to the Business as set forth herein to one or more newly-formed, wholly-owned Subsidiaries of the Company and the assumption by the Company of certain liabilities related to the Business as set forth herein; and
WHEREAS, Ford and Visteon have entered into, concurrently with the execution and delivery of this Agreement by Visteon and the Company, (i) a Visteon "B" Purchase Agreement (the "VISTEON "B" PURCHASE AGREEMENT") pursuant to which, among other things, Visteon has agreed to sell to Ford, and Ford has agreed to purchase from Visteon, on the day following the Closing Date (as defined below), all of the