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Exhibit 6
SONERA AGREEMENT
POWERTEL STOCKHOLDERS AGREEMENT
This Powertel Stockholders Agreement (this "AGREEMENT") dated as of
August 26, 2000 is by and among VoiceStream Wireless Corporation, a Delaware
corporation ("VOICESTREAM"), and the entity or entities set forth on Schedule I
hereto (each, a "STOCKHOLDER" and, collectively, the "STOCKHOLDERS").
WHEREAS, simultaneously with the execution of this Agreement,
Powertel, Inc., a Delaware corporation ("POWERTEL") and VoiceStream are entering
into an Agreement and Plan of Reorganization (as amended or modified from time
to time, the "VOICESTREAM REORGANIZATION AGREEMENT"), dated as of the date
hereof, providing for, among other things, the merger of a subsidiary of
VoiceStream with and into Powertel and the consummation of certain other
transactions (collectively, the "VOICESTREAM REORGANIZATION") if, but only if,
the DT Merger (as defined below) is not consummated;
WHEREAS, simultaneously with the execution of this Agreement,
Powertel and Deutsche Telekom AG, an Aktiengesellschaft organized and existing
under the laws of the Federal Republic of Germany ("DT") are entering into an
Agreement and Plan of Merger dated as of the date hereof providing for, among
other things, the merger (the "DT MERGER") of a subsidiary of DT with and into
Powertel (as amended or modified from time to time, the "DT MERGER AGREEMENT");
and
WHEREAS, VoiceStream has agreed to enter into the VoiceStream
Reorganization Agreement only if all the parties hereto enter into this
Agreement;
NOW THEREFORE, in consideration of the foregoing and the mutual
premises, representations, warranties, covenants and agreements contained herein
and in the VoiceStream Reorganization Agreement, the parties hereto, intending
to be legally bound hereby, agree as follows:
1. CERTAIN DEFINITIONS. This Agreement is one of the Powertel
Stockholders Agreements referred to in the recitals to the VoiceStream
Reorganization Agreement. Capitalized terms used but not defined in this
Agreement are used in this Agreement with the meanings given to such terms in
the VoiceStream Reorganization Agreement. In addition, for purposes of this
Agreement, the following terms shall have the following meanings:
"BENEFICIALLY OWNED" or "BENEFICIAL OWNERSHIP" shall include, with
respect to any securities, the beneficial ownership of such securities by a
Stockholder and by any direct or indirect Subsidiary of a Stockholder.
"VOICESTREAM/DT MERGER AGREEMENT" means the Agreement and Plan of
Merger between VoiceStream and DT dated as of July 23, 2000, as it may be
amended or modified from time to time.
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"VOICESTREAM PRINCIPAL STOCKHOLDER'S SHARES" shall mean the number
of shares of VoiceStream Common Stock or VoiceStream preferred stock owned of
record or beneficially owned by a VoiceStream Principal Stockholder (including
such shares as are owned of record or beneficially owned by any direct or
indirect Subsidiary of such VoiceStream Principal Stockholder), together with
any shares of VoiceStream Common Stock or other voting capital stock of
VoiceStream owned of record or beneficially owned or acquired by such
VoiceStream Principal Stockholder or direct or indirect Subsidiary thereof after
the date hereof, whether upon the exercise of warrants or options, conversion of
VoiceStream preferred stock or any convertible securities or otherwise.
"TRANSFER" means, with respect to any security, the sale, transfer,
pledge, hypothecation, encumbrance, assignment or other disposition of such
security or the Beneficial Ownership thereof, the offer to make such a sale,
transfer, or other disposition, and each agreement, arrangement or
understanding, whether or not in writing, to effect any of the foregoing.
2. REPRESENTATIONS, WARRANTIES AND COVENANTS OF EACH STOCKHOLDER.
Each Stockholder hereby represents and warrants, severally and not jointly, to
VoiceStream, solely with respect to itself, as of the date hereof, as follows:
2.1 TITLE. As of the date hereof, such Stockholder is the sole
record and Beneficial Owner of the number of shares of Powertel Stock set forth
opposite such Stockholder's name on SCHEDULE I attached hereto (with respect to
each Stockholder, such Stockholder's "EXISTING SHARES" and, together with the
record ownership or Beneficial Ownership of any shares of Powertel Stock or
other voting capital stock of Powertel acquired after the date hereof, whether
upon the exercise of warrants or options, conversion of the Powertel Preferred
Stock or any convertible securities or otherwise, such Stockholder's "SHARES"),
and/or the number of warrants, options or other rights to acquire or receive
such Powertel Stock, as the case may be, set forth opposite such Stockholder's
name on SCHEDULE I attached hereto (with respect to each Stockholder, such
Stockholder's "EXISTING RIGHTS" and, together with record ownership or
Beneficial Ownership of any warrants, options or other rights to acquire or
receive such shares of Powertel Stock or other voting capital stock of Powertel
acquired after the date hereof, such Stockholder's "RIGHTS"). Such Stockholder
is the lawful owner of such Existing Shares and Existing Rights, free and clear
of all liens, claims, charges, security interests or other encumbrances, except
as disclosed on SCHEDULE I. As of the date hereof, such Existing Shares
constitute all of the capital stock of Powertel Beneficially Owned or owned of
record by such Stockholder (excluding the Existing Rights) and such Stockholder
does not own of record or Beneficially Own or have any right to acquire (whether
currently, upon lapse of time, following the satisfaction of any conditions,
upon the occurrence of any event or any combination of the foregoing) any shares
of Powertel Stock or any other securities convertible into or exchangeable or
exercisable for shares of Powertel Stock, except pursuant to such Existing
Rights.
2.2 RIGHT TO VOTE. Except as disclosed on SCHEDULE I, such
Stockholder has, with respect to all of such Stockholder's Existing Shares, and
(subject to the provisions of
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Section 3.1) will have at the Powertel Stockholders Meeting, with respect to all
of such Stockholder's Shares listed on Schedule I and acquired subsequent to the
date hereof and prior to the record date for the Powertel Stockholders Meeting,
sole voting power, sole power of disposition or sole power to issue instructions
with respect to the matters set forth in SECTION 4 hereof and to fulfill its
obligations under such Section and shall not take any action or grant any person
any proxy (revocable or irrevocable) or power-of-attorney with respect to any
Shares or Rights inconsistent with its obligations as provided by SECTION 4 and
SECTION 5 hereof. Each Stockholder hereby revokes any and all proxies with
respect to such Stockholder's Existing Shares or Existing Rights to the extent
they are inconsistent with such Stockholder's obligations under this Agreement.
2.3 AUTHORITY. Such Stockholder has full legal power, authority,
legal capacity and right to execute and deliver, and to perform its or his
obligations under, this Agreement. No other proceedings or actions on the part
of such Stockholder are necessary to authorize the execution, delivery or
performance of this Agreement or the consummation of the transactions
contemplated hereby. This Agreement has been duly and validly executed and
delivered by such Stockholder and constitutes a valid and binding agreement of
such Stockholder enforceable against such Stockholder in accordance with its
terms, subject to (i) bankruptcy, insolvency, moratorium and other similar laws
now or hereafter in effect relating to or affecting creditors' rights generally
and (ii) general principles of equity (regardless of whether considered in a
proceeding at law or in equity).
2.4 CONFLICTING INSTRUMENTS. Neither the execution and delivery of
this Agreement nor the performance by such Stockholder of its agreements and
obligations hereunder will result in any breach or violation of, or be in
conflict with or constitute a default under, any term of any agreement,
judgment, injunction, order, decree, law or regulation to which such Stockholder
is a party or by which such Stockholder or any of its assets is bound.
2.5 RELIANCE. Such Stockholder understands and acknowledges that
VoiceStream is entering into the VoiceStream Reorganization Agreement in
reliance upon such Stockholder's execution, delivery and performance of this
Agreement.
3. RESTRICTION ON TRANSFER; OTHER RESTRICTIONS.
3.1 Each Stockholder agrees not to Transfer or agree to Transfer any
Shares or Rights owned of record or Beneficially Owned by such Stockholder,
except as otherwise permitted by this SECTION 3 or pursuant to the VoiceStream
Reorganization Agreement or the DT Merger Agreement, Transfers to any Affiliate
of the Stockholder who agrees in writing to be bound by the terms of this
Agreement or Transfers which occur by operation of law if the transferee
remains, or agrees in writing to remain, bound by the terms of this Agreement,
other than, in each case, with VoiceStream's prior written consent.
3.2 From the date hereof until the later of January 1, 2001 and the
date of the Powertel Stockholders Meeting, each Stockholder agrees not to
Transfer any Shares or Rights owned of record or Beneficially Owned by such
Stockholder, provided, however, that this
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SECTION 3.2 shall cease to be of any force or effect immediately upon
termination of the VoiceStream Reorganization Agreement.
3.3 From the later of January 1, 2001 and the date of the Powertel
Stockholders Meeting, until the earlier of the Effective Time or the termination
of the VoiceStream Reorganization Agreement, each Stockholder may Transfer only
up to 25% of such Stockholder's Total Number of Shares; provided however, that
if during such period any VoiceStream Principal Stockholder shall Transfer
(other than Exempt Transfers) more than 25% of such VoiceStream Principal
Stockholder's Shares (individually or in the aggregate with other Transfers made
during such period), except for TDS Exempt Sales, then each Stockholder may
Transfer a percentage of such Stockholder's Total Number of Shares (even if such
percentage is more than 25%), as permitted by its existing registration rights
agreement with Powertel or otherwise, equal to the largest percentage of such
VoiceStream Principal Stockholder's Shares Transferred, registered or proposed
to be registered by such VoiceStream Principal Stockholder during such period.
"TDS EXEMPT SALES" shall mean sales by Telephone and Data Systems, Inc. ("TDS")
made to manage certain investment company matters as permitted pursuant to that
certain Side Letter Agreement dated as of the date of this Agreement between TDS
and Powertel. For purposes hereof, such percentage of a VoiceStream Principal
Stockholder's Shares shall be calculated by dividing the number of such
VoiceStream Principal Stockholder's Shares to be Transferred or Registered by
the total number of such VoiceStream Principal Stockholder's Shares. "EXEMPT
TRANSFERS" shall mean Transfers to any Affiliate of the VoiceStream Principal
Stockholder who agrees in writing to be bound by the terms of the VoiceStream
Stockholder Agreements or Transfers which occur by operation of law if the
transferee remains, or agrees in writing to remain, bound by the terms of the
VoiceStream Stockholder Agreements.
3.4 From the Effective Time through and including the six-month
anniversary of the Effective Time, each Stockholder agrees not to Transfer any
VoiceStream Common Stock received in the Merger, except in accordance with Rules
144 and 145 promulgated under the Securities Act ("RULES 144 AND 145"); provided
however, that if during such period any VoiceStream Principal Stockholder shall
propose to Transfer more than the number of such VoiceStream Principal
Stockholder's Shares that such VoiceStream Principal Stockholder is permitted to
Transfer under Rule 144, including the volume restrictions contained therein
(individually or in the aggregate with other Transfers made during such period),
except for TDS Exempt Sales, then the Stockholders may Transfer a percentage of
their Total Number of Shares, equal to the largest percentage of any VoiceStream
Principal Stockholder's Shares so Transferred by any VoiceStream Principal
Stockholder during such period pursuant to (a) piggyback registration rights
with respect to the VoiceStream Principal Stockholder's registration statement
filed with respect to any such Transfer of a VoiceStream Principal Stockholder's
Shares, or (b) the registration rights agreement attached hereto as Annex A.
3.5 From the day following the six month anniversary of the
Effective Time, each Stockholder may Transfer its shares in accordance with
applicable securities laws, including pursuant to the registration rights
agreement attached hereto as Annex A, provided however, such registration rights
shall not be available under this SECTION 3.5 if a Stockholder, as of the time
of the proposed Transfer, may then Transfer all of its shares of VoiceStream
Common Stock pursuant to Rule 144 or 145 during a single three month period.
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3.6 For purposes of SECTION 3.3, a Stockholder's "Total Number of
Shares" is equal to the sum of (i) the number of shares of Powertel Stock owned
of record or Beneficially Owned by the Stockholder as of the later of January 1,
2001 and the date of the Powertel Stockholders Meeting, including any shares of
Powertel Common Stock issuable upon conversion of any shares of Powertel
Preferred Stock owned by the Stockholder and (ii) the number of shares of
Powertel Common Stock owned of record or Beneficially Owned by the Stockholder
as a result of the exercise or conversion, as applicable, of any options,
warrants or convertible securities (other than Powertel Preferred Stock) to
acquire shares of Powertel Common Stock, during the period from the later of
January 1, 2001 and the date of the Powertel Stockholders Meeting, until the
earlier of the Effective Time and the termination of the VoiceStream
Reorganization Agreement. For purposes of SECTION 3.4, a Stockholder's Total
Number of Shares is equal to the sum of (i) the number of VoiceStream Common
Stock which the Stockholder is or may be entitled to receive as the merger
consideration pursuant to the VoiceStream Reorganization Agreement in respect of
the Initial Number of Shares and (ii) the number of shares of VoiceStream Common
Stock owned of record or Beneficially Owned by the Stockholder as a result of
the exercise or conversion, as applicable, of any options, warrants or
convertible securities to acquire VoiceStream Common Stock (other than any such
options, warrants or convertible securities included in the calculation of the
Initial Number of Shares), during the relevant periods specified in such
subsection if the VoiceStream Reorganization Agreement has been consummated at
the Effective Time.
3.7 The foregoing limitations set forth in SECTION 3.3 shall not
apply to any Transfers pursuant to a tender offer, self-tender offer, exchange
offer or other transaction offered generally to holders of VoiceStream Common
Stock and approved or not opposed by VoiceStream's Board of Directors, and
securities subject to a Transfer made pursuant to this SECTION 3.7 shall be
deemed continued to be owned by the Stockholder for purposes of the calculations
made under SECTION 3.3.
3.8 Each Stockholder agrees, prior to the Effective Time, not to
effect, directly or indirectly, or through any arrangement with a third party
pursuant to which such third party may effect, directly or indirectly, any short
sales of any Powertel Stock except in accordance with the limitations of SECTION
3.3.
4. AGREEMENT TO VOTE. Each Stockholder hereby irrevocably and
unconditionally agrees to vote or to cause to be voted, or provide a consent
with respect to, all Shares that it owns of record or that are Beneficially
Owned as of the record date for the Powertel Stockholders Meeting at the
Powertel Stockholders Meeting and at any other annual or special meeting of
stockholders of Powertel or action by written consent where matters relating to
the VoiceStream Reorganization arise (a) in favor of the VoiceStream
Reorganization and the VoiceStream Reorganization Agreement and approval of the
terms thereof and each of the other transactions contemplated thereby, and (b)
against, and will not consent to, (i) approval of any Alternative Transaction or
(ii) the liquidation or winding up of Powertel. The obligations of each such
Stockholder specified in this SECTION 4 shall apply whether or not the Board of
Directors of Powertel makes a Subsequent Determination.
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5. DELIVERY OF PROXY. In furtherance of the agreements contained in
SECTION 4 hereof, each Stockholder hereby agrees (a) to complete and send the
proxy card received by such Stockholder with the Joint Proxy Statement, so that
such proxy card is received by Powertel, as prescribed by the Joint Proxy
Statement, not later than the fifth Business Day preceding the day of the
Powertel Stockholders Meeting, (b) to vote, by completing such proxy card but
not otherwise, all the Shares it owns of record or Beneficially Owns as of the
record date for the Powertel Stockholders Meeting (i) in favor of the
VoiceStream Reorganization and the VoiceStream Reorganization Agreement and (ii)
if the opportunity to do so is presented to such Stockholder on the proxy card,
against any Alternative Transaction and (c) not to revoke any such proxy.
6. NO SOLICITATION. From and after the date hereof, the Stockholders
shall not, nor shall they authorize or permit any of their respective
Subsidiaries to, nor shall they authorize or permit any of their respective
officers, directors, members or employees to, and shall use their reasonable
best efforts to cause any investment banker, financial advisor, attorney,
accountants or other representatives retained by them or any of their respective
Subsidiaries not to, directly or indirectly through another person, (i) solicit,
initiate or encourage (including by way of furnishing information), or knowingly
take any other action designed to facilitate, any Alternative Transaction, or
(ii) participate in any discussions or negotiations regarding any Alternative
Transaction, provided that nothing herein shall affect the ability of any
Stockholder in its capacity as an officer, director, employee or advisor to
Powertel to take any action permissible under the VoiceStream Reorganization
Agreement.
7. AMENDMENT OF REGISTRATION RIGHTS. The registration rights held by
the Stockholders pursuant to the Stock Purchase Agreement by and between
Powertel and the Stockholders dated March 4, 1996 and the Put Agreement between
Powertel and Sonera Holding, B.V., dated May 30, 2000, and the
rights/obligations to purchase Shares pursuant to the Stock Purchase Agreement
by and between the Stockholders dated May 30, 2000, and Powertel shall, in
consideration of the undertakings by VoiceStream under this Agreement and the
VoiceStream Reorganization Agreement, be terminated and be of no further force
or effect effective at the Effective Time. Each of the Stockholders agrees that
(a) until the earlier of (x) the later of January 1, 2001 and the date of the
Powertel Stockholders Meeting, and (y) the termination of the VoiceStream
Reorganization Agreement, such Stockholder shall not exercise any registration
rights other than as permitted in Section 3 above and (b) from the date hereof
until the earlier of the termination of the VoiceStream Reorganization Agreement
or the Effective Time, such Stockholder shall not be entitled to the benefit of
any preemption rights that such Stockholder may have under the agreements listed
in the immediately preceding sentence. None of the agreements so listed shall be
amended or modified in a manner inconsistent with the terms of this Agreement
without VoiceStream's prior written approval.
8. ADDITIONAL SHARES AND ADDITIONAL RIGHTS. If, after the date
hereof, a Stockholder acquires record ownership or Beneficial Ownership of any
additional shares of capital stock of Powertel (any such shares, "ADDITIONAL
SHARES"), including, without limitation, upon exercise of any option, warrant or
right to acquire shares of capital stock of Powertel through the conversion of
the Powertel Preferred Stock or through any stock dividend or stock
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split, or record ownership or Beneficial Ownership of any additional options,
warrants or rights to acquire shares of capital stock of Powertel (any such
options, warrants, or rights, "ADDITIONAL RIGHTS"), the provisions of this
Agreement applicable to the Shares and the Rights shall be applicable to such
Additional Shares and Additional Rights from and after the date of acquisition
thereof. The provisions of the immediately preceding sentence shall be effective
with respect to Additional Shares or Additional Rights without action by any
person immediately upon the acquisition by any Stockholder of record ownership
or Beneficial Ownership of such Additional Shares or Additional Rights,
respectively.
9. AMENDMENT OF EXISTING VOTING AGREEMENTS. Certain stockholders of
VoiceStream (the "VOICESTREAM STOCKHOLDERS") are parties to a Voting Agreement
dated February 25, 2000 (as amended May 4, 2000), and a First Amended and
Restated Voting Agreement dated July 23, 2000 which will take effect in
accordance with its terms (collectively the "EXISTING VOTING AGREEMENTS")
pursuant to which they have agreed to vote all shares of VoiceStream Common
Stock and VoiceStream preferred stock beneficially owned by each of them at the
time of such vote in favor of directors in accordance with the procedures and
provisions set forth in such agreements. On or before the Effective Time,
VoiceStream agrees to execute and deliver, and to use its reasonable best
efforts to cause the VoiceStream Stockholders to execute and deliver, an amended
voting agreement (the "AMENDED VOTING AGREEMENT") on terms mutually satisfactory
to VoiceStream, Powertel, the Stockholders, and the other parties who are
presently parties to the Existing Voting Agreements, providing for: (i) the
nomination of one representative of the Powertel stockholders to the VoiceStream
Board of Directors who shall be initially designated by the Powertel Board of
Directors and who shall also be reasonably satisfactory to VoiceStream; (ii) the
creation of a vacancy on the VoiceStream Board of Directors (and the approval of
any Bylaw amendments or other actions required to do so); (iii) the appointment
of such nominee (and any successor nominee) to a newly created vacancy on the
VoiceStream Board of Directors; and (iv) an agreement to vote all shares of
VoiceStream Common Stock and other voting securities of VoiceStream (and all
securities received in exchange, replacement or substitution therefor, or as a
dividend or result of a stock split with respect thereto) for such nominee (and
any successor nominee) at the first two annual meetings after the Effective
Time. If VoiceStream and the VoiceStream Principal Stockholders are unable to
cause the execution of an Amended Voting Agreement by the other parties to the
Existing Voting Agreement, the Stockholders, VoiceStream and the VoiceStream
Principal Stockholders shall execute a new voting agreement with such other
VoiceStream stockholders who agree to enter into such separate voting agreement
on terms and conditions substantially similar to the Existing Voting Agreements
containing substantially the same additional provisions as set forth in the
preceding sentence. Prior to the Effective Time, the Powertel Board of Directors
may make such provisions as it deems appropriate for successor nominees each of
which shall be reasonably satisfactory to VoiceStream. After the Effective Time,
any nominee or successor nominee shall be selected by mutual agreement of ITC
Holding Company, Inc., a Delaware corporation, ("ITCORP") and SCANA
Communications Holdings, Inc., a Delaware corporation ("SCORP") or, if no such
agreement can be reached, by whichever of ITCORP and SCORP beneficially owns the
larger number of Shares of VoiceStream Common Stock (including VoiceStream
preferred stock on an as-if-converted basis).
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10. MISCELLANEOUS.
10.1 ENTIRE AGREEMENT. This Agreement constitutes the entire
agreement among the parties with respect to the subject matter hereof and,
except for the Powertel Stockholders Agreement, as defined in the DT Merger
Agreement and the Stockholders Agreements as defined in the VoiceStream/DT
Merger Agreement, supercedes all other prior agreements and understandings both
written and oral, among the parties hereto with respect to the Transfer or
voting of Shares as contemplated hereby. This Agreement is not intended to
confer upon any Person other than the Parties hereto any rights or remedies
hereunder.
10.2 COSTS AND EXPENSES. All costs and expenses incurred in
connection with this Agreement and the transactions contemplated hereby shall be
paid by the Party incurring such expenses.
10.3 INVALID PROVISIONS. If any provision of this Agreement shall be
invalid or unenforceable under applicable law, such provision shall be
ineffective to the extent of such invalidity or unenforceability only, without
it affecting the remaining provisions of this Agreement.
10.4 EXECUTION IN COUNTERPARTS; SEVERAL OBLIGATIONS. This Agreement
may be executed in counterparts each of which shall be an original with the same
effect as if the signatures hereto and thereto were upon the same instrument.
The obligations of the Stockholders hereunder are several and not joint and the
covenants and agreements of the Stockholders herein are made only in their
capacity as stockholders of Powertel and not in any other capacity (including as
directors or officers).
10.5 SPECIFIC PERFORMANCE. Each Stockholder agrees with VoiceStream
as to itself that if for any reason such Stockholder fails to perform any of its
agreements or obligations under this Agreement, irreparable harm or injury to
VoiceStream would be caused as to which money damages would not be an adequate
remedy. Accordingly, each Stockholder agrees that, in seeking to enforce this
Agreement against such Stockholder, VoiceStream shall be entitled, in addition
to any other remedy available at law, equity or otherwise, to injunctive and
other equitable relief. The provisions of this SECTION 10.5 are without
prejudice to any other rights or remedies, whether at law or in equity,
VoiceStream may have against such Stockholder for any failure to perform any of
its agreements or obligations under this Agreement.
10.6 AMENDMENTS; TERMINATION.
(a) This Agreement may not be modified, amended, altered or
supplemented, except upon the execution and delivery of a written agreement
executed by the parties hereto.
(b) The provisions of this Agreement (other than SECTIONS 3, 4 AND
5) shall terminate upon the earliest to occur of (i) the Effective Time, (ii)
the date that is two (2) years after the date hereof, and (iii) the termination
of the VoiceStream Reorganization Agreement. The provisions of SECTIONS 3.2
through 3.5 of this Agreement shall terminate when the applicable time periods
set forth therein lapse and the remaining provisions of SECTION 3 of this
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Agreement shall terminate when each of SECTIONS 3.2 through 3.5 of this
Agreement have terminated. The provisions of SECTIONS 4 AND 5 of this Agreement
shall terminate upon the earlier to occur of the Effective Time and termination
of the VoiceStream Reorganization Agreement.
10.7 GOVERNING LAW; SUBMISSION AND JURISDICTION.
(a) This Agreement shall be governed by and construed in accordance
with the laws of the State of Delaware without giving effect to the principles
of conflicts of laws thereof.
(b) Each of the parties hereof irrevocably agrees that any legal
action or proceeding with respect to this Agreement or for recognition and
enforcement of any judgment in respect hereof brought by the other Party hereto
or its successors or assigns shall be brought and determined only in the United
States District Court for the State of Delaware or, in the event (but only in
the event) that such court does not have subject matter jurisdiction over such
action or proceeding in the courts of the State of Delaware. Each of the parties
hereto hereby irrevocable submits with regard to any such action or proceeding
for itself and in respect to its property, generally and unconditionally, to the
personal jurisdiction of the aforesaid courts. Each of the parties hereto hereby
irrevocably waives, and agrees not to assert, by way of motion, as a defense,
counterclaim or otherwise, in any action or proceeding with respect to this
Agreement, (i) any claim that it is not personally subject to the jurisdiction
of the above-named courts for any reason other than the failure to serve in
accordance with this SECTION 10.7(b) or that it or its property is exempt or
immune from jurisdiction of any such court or from any legal process commenced
in such courts (whether through service of notice, attachment prior to judgment,
attachment in aid of execution of judgment, execution of judgment or otherwise),
and (ii) to the fullest extent permitted by the applicable law, that (x) the
suit, action or proceeding in such court is brought in an inconvenient forum,
(y) the venue of such suit, action or proceeding is improper and (z) this
Agreement, or the subject matter hereof, may not be enforced in or by such
courts. Without limiting the foregoing, each party agrees that service of
process on such party as provided in SECTION 10.9 shall be deemed effective
service of process on such party.
10.8 SUCCESSORS AND ASSIGNS. The provisions of this Agreement shall
be binding upon and inure to the benefit of the parties hereto and their
respective legal successors (including, in the case of such Stockholder or any
other individual, any executors, administrators, estates, legal representatives
and heirs of such Stockholder or such individual) and permitted assigns;
provided that, except as otherwise provided in this Agreement, no party may
assign, delegate or otherwise transfer any of its rights or obligations under
this Agreement.
10.9 NOTICES. All notices and other communications given or made
pursuant hereto shall be in writing and shall be deemed to have been duly given
or made as of the date of receipt and shall be delivered personally or sent by
overnight courier or sent by telecopy, to the parties at the following addresses
or telecopy numbers (or at such other address or telecopy number for a party as
shall be specified by like notice):
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(a) if to a Stockholder, at such Stockholder's address appearing on
Schedule I hereto or at any other address that such Stockholder may have
provided in writing to VoiceStream, Powertel and the other Stockholders.
(b) if to VoiceStream:
VoiceStream Wireless Holding Corporation
3650 131st Avenue SE, Suite 400
Bellevue, WA 98006
Attn: General Counsel
Telecopy No.: 425-586-8080
with a copy to:
Preston Gates & Ellis LLP
701 Fifth Avenue, Suite 5000
Seattle, WA 98104
Attn: Richard B. Dodd, Esq.
Telecopy No: 206-623-7022
10.10 WAIVER OF IMMUNITY. Stockholder and VoiceStream each agree
that, to the extent that it or any of its property is or becomes entitled at any
time to any immunity on the grounds of sovereignty or otherwise based upon its
status as an agency or instrumentality of government from any legal action, suit
or proceeding or from setoff or counterclaim relating to this Agreement from the
jurisdiction of any competent court, from service of process, from attachment
prior to judgment, from attachment in aid of execution of a judgment, from
execution pursuant to a judgment or arbitral award, or from any other legal
process in any jurisdiction, it, for itself and its property expressly,
irrevocably and unconditionally waives, and agrees not to plead or claim, any
such immunity with respect to such matters arising with respect to this
Agreement or the subject matter hereof (including any obligation for the payment
of money). Stockholder and VoiceStream each agree that the waiver in this
provision is irrevocable and is not subject to withdrawal in any jurisdiction or
under any statute, including the Foreign Sovereign Immunities Act, 28 U.S.C.
Section 1602 et seq. The foregoing waiver shall constitute a present waiver of
immunity at any time any action is initiated against Stockholder or VoiceStream
with respect to this Agreement.
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IN WITNESS WHEREOF, the parties hereto have executed this Powertel
Stockholders Agreement as of this 26th day of August, 2000.
VOICESTREAM WIRELESS CORPORATION
By: /s/ Cregg B. Baumbaugh
--------------------------------
Name: Cregg Baumbaugh
Title: Executive Vice
President--Finance, Strategy and
Development
STOCKHOLDERS:
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<CAPTION>
<S> <C>
SONERA CORPORATION SONERA HOLDING, B.V.
By: /s/ Olli T. Tuohimaa By: /s/ Olli T. Tuohimaa
Name: Olli T. Tuohimaa Name: Olli T. Tuohimaa
Title: General Counsel of Sonera Corp. U.S. Title: General Counsel of Sonera Corp. U.S.
Attorney in Fact Attorney in Fact
</TABLE>
Signature page to Powertel Stockholders Agreement -- VoiceStream Merger
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SCHEDULE I
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Number and Description of
Stockholder Name and Address Number of Existing Shares Existing Rights
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<S> <C> <C>
Sonera Corporation 100,000 Powertel Series A 4,626,744 shares of Powertel
P.O. Box 106 Preferred Stock purchased Common Stock currently
FIN-00051-SONERA from Ericsson, Inc. in 1999 issuable upon conversion of
Teollisuuskatu 15, Helsinki, (Ericsson's purchase was Powertel Series A Preferred
Finland under Stock Purchase Stock
Attn: Kaj-Erik Relander, Agreement dated March 4, 1996)
Deputy Chief Executive Officer
Facsimile: 011 358 2040 3770
Sonera Holding, B.V. Right/Obligation to purchase
P.O. Box 106 1,740,947 shares of Powertel
FIN-00051-SONERA Common Stock pursuant and
Teollisuuskatu 15, Helsinki, subject to the Stock Purchase
Finland Agreement dated May 30, 2000,
Attn: Kaj-Erik Relander, and 1,044,568 shares of
Deputy Chief Executive Officer Powertel Common Stock
Facsimile: 011 358 2040 3770 pursuant and subject to the
Put Agreement dated May 30,
2000
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ANNEX A
REGISTRATION RIGHTS
(a) The Stockholder shall have the right at any time after the Effective Time to
make THREE requests of VoiceStream in writing for registration under the
Securities Act of shares of VoiceStream Common Stock into which the shares of
Powertel Preferred Stock held by the Stockholder were converted, the shares of
VoiceStream Powertel Common Stock received pursuant to the VoiceStream
Reorganization Agreement, the Stock Purchase Agreement between Sonera Holding
B.V. and Powertel, dated May 30, 2000, or the Put Agreement, between Sonera
Holding B.V. and Powertel, dated May 30, 2000 (the "SECURITIES"): with respect
to the first such request to register under the Securities Act at least $20
million in market value of Securities Beneficially Owned by the Stockholder (the
shares subject to any such request hereunder being referred to as the "SUBJECT
STOCK"), and with each subsequent such request being at least 6 months following
the completion of the prior offering pursuant to a registration statement with
respect to the Subject Stock which was effective until the earlier of the
completion of such offering or three months. VoiceStream shall use all
reasonable efforts to cause the Subject Stock to be registered under the
Securities Act as soon as reasonably practicable after receipt of a request so
as to permit promptly the sale thereof, and in connection therewith, VoiceStream
shall prepare and file, on such appropriate form as VoiceStream in its
discretion shall determine, a registration statement under the Securities Act to
effect such registration. VoiceStream shall use all reasonable efforts to list
all Subject Stock covered by such registration statement on any national
securities exchange on which the VoiceStream Common Stock is then listed or to
list such Subject Stock on the National Association of Securities Dealers, Inc.
Automated Quotation System or National Market System. The Stockholder hereby
undertakes to provide all such information and materials and take all such
action as may be required in order to permit VoiceStream to comply with all
applicable requirements of the United States Securities and Exchange Commission
("COMMISSION") and to obtain any desired acceleration of the effective date of
such registration statement. Any registration statement filed at the
Stockholder's request hereunder will not count as a requested registration
unless effectiveness is maintained until the earlier of completion of the
offering or three months. Notwithstanding the foregoing, VoiceStream (i) shall
not be obligated to cause any special audit to be undertaken in connection with
any such registration (provided that this provision shall not relieve
VoiceStream of its obligation to obtain any required consents with respect to
financial statements in prior periods) and (ii) shall be entitled to postpone
for a reasonable period (not to exceed 90 days) of time the filing of any
registration statement otherwise required to be prepared and filed by
VoiceStream if VoiceStream is, at such time, either (A) conducting, or proposing
to file with the Commission within 90 days a registration statement with respect
to, an underwritten public offering for the account of VoiceStream of equity
securities (or securities convertible into equity securities) or is subject to a
contractual obligation not to engage in a public offering and is advised in
writing by its managing underwriter or underwriters (with a copy to the
Stockholder) that such offering would in its or their opinion be adversely
affected by the registration so requested or (B) subject to an existing
contractual obligation to its underwriters not to engage in a public offering.
Notwithstanding any other provision of this Annex, VoiceStream may postpone
action under this
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Annex for as long as it reasonably deems necessary (but no longer than 90 days)
if VoiceStream determines, in its reasonable discretion, that effecting the
registration at such time might (i) adversely affect a pending or contemplated
financing, acquisition, disposition of assets or stock, merger or other
significant transaction, or (ii) require VoiceStream to make public disclosure
of information the public disclosure of which at such time VoiceStream in good
faith believes could have a significant adverse effect upon VoiceStream.
No securities may be registered on a registration statement requested by
the Stockholder pursuant to the first paragraph of paragraph (a) of this Annex
without the Stockholder's express written consent, unless the amount of such
securities is subject to reduction prior to any reduction in the number of
securities originally requested by the Stockholder in the event the lead
underwriter of the related offering believes that the success of such offering
would be materially and adversely affected by inclusion of all the securities
requested to be included therein.
At any time after the Effective Time, if VoiceStream proposes to file a
registration statement under the Securities Act with respect to an offering of
its equity securities (i) for its own account (other than a registration
statement on Form S-4 or S-8 (or any substitute form that may be adopted by the
Commission)) or (ii) for the account of any homers of its schedules (including
pursuant to a demand registration), then VoiceStream shall give written notice
of such proposed filing to the Stockholder as soon as practicable (but in any
event not less than 5 Business Days before the anticipated filing date), and
such notice shall offer the Stockholder the opportunity to register such, number
of shares of Securities as the Stockholder requests. If the Stockholder wishes
to register securities of the same class or series as VoiceStream or such
holder, such registration shall be on the same terms and conditions as the
registration of VoiceStream's or such holders' securities (a "PIGGYBACK
REGISTRATION"). Notwithstanding anything contained herein, if the lead
underwriter of an offering involving a Piggyback Registration delivers a written
opinion to VoiceStream that the success of such offering would be materially and
adversely affected by inclusion of all the securities requested to be included,
then the number of securities to be registered by the Stockholder shall be
reduced prior, to any reduction in the number of securities originally requested
by them; provided, however, that VoiceStream must provide prompt written notice
of such written opinion to the Stockholder. The Stockholder shall have the right
at any time to convert its request for a Piggyback Registration into a requested
registration pursuant to the first paragraph of paragraph (a) of this Annex.
(b) In connection with any offering of shares of Subject Stock
registered pursuant to this Annex, VoiceStream (i) shall furnish to the
Stockholder such number of copies of any prospectus (including any preliminary
prospectus) as it may reasonably request in order to effect the offering and
sale of the Subject Stock to be offered and sold, but only while VoiceStream
shall be required under the provisions hereof to cause the registration
statement to remain current and (ii) take such action as shall be necessary to
qualify the shares covered by such registration statement under such "blue sky"
or other state securities laws for offer and sale as the Stockholder shall
reasonably request; provided, however, that VoiceStream shall not be obligated
to qualify as a foreign corporation to do business under the laws of any
jurisdiction in which it shall not then be qualified or to file any general
consent to service of process in any jurisdiction
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in which such a consent has not been previously filed. If applicable,
VoiceStream shall enter into an underwriting agreement with a managing
underwriter or underwriters selected by the Stockholder (reasonably satisfactory
to VoiceStream) containing representations, warranties, indemnities and
agreements then customarily included by an issuer in underwriting agreements
with respect to secondary distributions; provided, however, that such
underwriter or underwriters shall agree to use their best efforts to ensure that
the offering results in a distribution of the Subject Stock sold in accordance
with the terms of this Agreement. In connection with any offering of Subject
Stock registered pursuant to this Annex, VoiceStream shall (x) furnish to the
underwriter, at VoiceStream's expense, unlegended certificates representing
ownership of the Subject Stock being sold in such denominations as reasonably
requested and (y) instruct any transfer agent and registrar of the Subject Stock
to release any stop transfer orders with respect to such Subject Stock. Upon any
registration becoming effective pursuant to this Annex, VoiceStream shall use
all reasonable efforts to keep such registration statement current for such
period as shall be required for the disposition of all of said Subject Stock;
provided, however, that such period need not exceed three months.
(c) The Stockholder shall pay all underwriting discounts and commissions
related to shares of Subject Stock being sold by the Stockholder and the fees
and disbursements of counsel and other advisors to the Stockholder. All other
fees and expenses in connection with the first requested registration pursuant
to the first paragraph of paragraph (a) of this Annex, including, without
limitation, all registration and filing fees, all fees and expenses of complying
with securities or "blue sky" laws, fees and disbursements of VoiceStream's
counsel and accountants (including the expenses of "cold comfort" letters
required by or incident to such performance and compliance) and any fees and
disbursements of underwriters customarily paid by issuers in secondary
offerings, shall be paid by VoiceStream, and all such other fees and expenses in
connection with the second and third requested registration pursuant to this
Annex shall be borne equally by the Stockholder and VoiceStream.
(d) In the case of any offering registered pursuant to this Annex,
VoiceStream agrees to indemnify and hold the Stockholder, each underwriter of
Securities under such registration and each person who controls any of the
foregoing within the meaning of Section 15 of the Securities Act and the
directors and officers of the Stockholder, harmless against any and all losses,
claims, damages, liabilities or action to which they or any of them may become
subject under the Securities Act or any other statute or common law or
otherwise, and to reimburse them for any legal or other expenses reasonably
incurred by them in connection with investigating any claims and defending any
actions, insofar as any such losses, claims, damages, liabilities or actions
shah arise out, of or shall be based upon (i) any untrue statement or alleged
untrue statement of a material fact contained in the registration statement
relating to the sale of such Subject Stock, or the omission or alleged omission
to state therein a material fact required to be stated therein or necessary to
make the statements therein, in light of the circumstances under which they were
made, not misleading or (ii) any untrue statement or alleged untrue statement of
a material fact contained in any preliminary prospectus (as amended or
supplemented if VoiceStream shall have filed with the Commission any amendment
thereof or supplement thereto), if used prior to the effective date of such
registration statement, or contained in the prospectus (as amended or
supplemented if VoiceStream shall have filed with the Commission any amendment
thereof or
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supplement thereto), or the omission or alleged omission to state therein a
material fact necessary in order to make the statements therein, in light of the
circumstances under which they were made, not misleading; provided, however,
that the indemnification agreement contained in this paragraph (d) shall not
apply to such losses, claims, damages, liabilities or actions which shall arise
from the sale of Subject Stock by the Stockholder if such losses, claims,
damages, liabilities or actions shall arise out of or shall be based upon any
such untrue statement or alleged untrue statement, or any such omission or
alleged omission, (x) made in reliance upon and in conformity with information
furnished in writing to VoiceStream by the Stockholder or any such underwriter
specifically for use in connection with the preparation of the registration
statement or any preliminary prospectus or prospectus contained in the
registration statement or any such amendment thereof or supplement thereto or
(y) made in any preliminary prospectus, and the prospectus contained in the
registration statement in the form filed by VoiceStream with the Commission
pursuant to Rule 424(b) under the Securities Act shall have corrected such
statement or omission and a copy of such prospectus shall not have been sent or
given to such person at or prior to the confirmation of such sale to him.
(e) In the case of each offering registered pursuant to this Annex, the
Stockholder and each underwriter participating therein shall agree, in the same
manner and to the same extent as set forth in paragraph (d) of this Annex,
severally to indemnify and hold harmless VoiceStream and each person, if any,
who controls VoiceStream within the meaning of Section 15 of the Securities Act,
and the directors and officers of VoiceStream, and in the case of each such
underwriter, the Stockholder, each person, if any, who controls the Stockholder
within the meaning of the Securities Act and the directors, officers and
partners of the Stockholder, with respect to any statement in or omission from
such registration statement or any preliminary prospectus (as amended or as
supplemented, if amended or supplemented as aforesaid) or prospectus contained
in such registration statement (as amended or as supplemented, if amended or
supplemented as aforesaid), if such statement or omission shall have been made
in reliance upon and in conformity with information furnished in writing to
VoiceStream by the Stockholder or such underwriter specifically for use in
connection with the preparation of such registration statement or any
preliminary prospectus or prospectus contained in such registration statement or
any such amendment thereof or supplement thereto.
(f) Each party indemnified under paragraph (d) or (e) of this Annex
shall, promptly after receipt of notice of the commencement of any action
against such indemnified party in respect of which indemnity may be sought
hereunder, notify the indemnifying party in writing of the commencement thereof.
The omission of any indemnified party to so notify an indemnifying party of any
such action shall not relieve the indemnifying party from any liability in
respect of such action which it may have to such indemnified party on account of
the indemnity agreement contained in paragraph (d) or (e) of this Annex, unless
the indemnifying party was prejudiced by such omission, and in no event shall
relieve the indemnifying party from any other liability which it may have to
such indemnified party. In case any such action shall be brought against any
indemnified party and it shall notify an indemnifying party of the commencement
thereof, the indemnifying party shall be entitled to participate therein and, to
the extent that it may desire, jointly with any other indemnifying party
similarly notified, to assume the defense thereof, and after notice from the
indemnifying party to such indemnified party of its election so to assume
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the defense thereof, the indemnifying party shall not be liable to such
indemnified party under paragraph (d) or (e) of this Annex for any legal or
other expenses subsequently incurred by such indemnified party in connection
with the defense thereof, other than reasonable costs of investigation;
provided, however, that if there exists or is reasonably likely to exist a
conflict of interest that would make it inappropriate in the judgment of the
indemnified party, in its sole and absolute discretion, for the same counsel to
represent both the indemnified party and the indemnifying party, then the
indemnified party shall be entitled to retain its own counsel, in each
jurisdiction for which the indemnified party determines counsel is required, at
the expense of the indemnifying party. No such third party claim may be settled
by the indemnifying party or the indemnified party without the prior written
consent of the other, which consent shall not be unreasonably withheld.
(g) If the indemnification provided for under paragraph (d) or (e) shall
for any reason be held by a court to be unavailable to an indemnified party
under paragraph (d) or (e) hereof in respect of any loss, claim, damage or
liability, or any action in respect thereof, then, in lieu of the amount paid or
payable under paragraph (d) or (e) hereof, the indemnified party and the
indemnifying party under paragraph (d) or (e) hereof shall contribute to the
aggregate losses, claims, damages and liabilities (including legal or other
expenses reasonably incurred in connection with investigating the same), (i) in
such proportion as is appropriate to reflect the relative fault of VoiceStream
and the prospective seller of Securities covered by the registration statement
which resulted in such loss, claim, damage or liability, or action in respect
thereof, with respect to the statements or omissions which resulted in such
loss, claim, damage or liability, or action in respect thereof, as well as any
other relevant equitable considerations or (ii) if the allocation provided by
clause (i) above is not permitted by applicable law, in such proportion as shall
be appropriate to reflect the relative benefits received by VoiceStream and such
prospective seller from the offering of the securities covered by such
registration statement. No Person guilty of fraudulent misrepresentation (within
the meaning of Section 11(f) of the Securities Act) shall be entitled to
contribution from any Person who was not guilty of such fraudulent
misrepresentation. In addition, no Person shall be obligated to contribute
hereunder any amounts in payment for any settlement of any action or claim
effected without such Person's consent, which consent shall not be unreasonably
withheld.
(h) Notwithstanding anything to the contrary contained in this
Agreement, the maximum amount of indemnifiable losses which may be recovered
from an indemnifying party arising out of or resulting from the causes
enumerated in paragraph (d) or (e) shall be an amount equal to the gross
proceeds from the applicable offering received by the Stockholder.
(i) Capitalized terms not defined in this Annex shall have the meanings
set forth in the Agreement and the VoiceStream Reorganization Agreement, as
defined in the Agreement.
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